<SEC-DOCUMENT>0000950142-22-002300.txt : 20220722
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<ACCEPTANCE-DATETIME>20220722163045
ACCESSION NUMBER:		0000950142-22-002300
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20220721
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20220722
DATE AS OF CHANGE:		20220722

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AVIS BUDGET GROUP, INC.
		CENTRAL INDEX KEY:			0000723612
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AUTO RENTAL & LEASING (NO DRIVERS) [7510]
		IRS NUMBER:				060918165
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10308
		FILM NUMBER:		221100238

	BUSINESS ADDRESS:	
		STREET 1:		6 SYLVAN WAY
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
		BUSINESS PHONE:		973-496-4700

	MAIL ADDRESS:	
		STREET 1:		6 SYLVAN WAY
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENDANT CORP
		DATE OF NAME CHANGE:	19971218

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CUC INTERNATIONAL INC /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMP U CARD INTERNATIONAL INC
		DATE OF NAME CHANGE:	19870914
</SEC-HEADER>
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<p style="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><b>WASHINGTON, D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b></b></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>PURSUANT TO SECTION&#160;13 OR 15(d)&#160;OF THE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><b>SECURITIES EXCHANGE ACT OF 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><b></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its charter)</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center">(Registrant&#8217;s telephone number, including
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

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<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Segoe UI Symbol,sans-serif"><span id="xdx_902_edei--PreCommencementIssuerTenderOffer_c20220721__20220721_zzbNrrLUMgKj"><ix:nonNumeric contextRef="From2022-07-21to2022-07-21" format="ixt:booleanfalse" name="dei:PreCommencementIssuerTenderOffer">&#9744;</ix:nonNumeric></span></span></td><td style="text-align: left">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left">Securities registered pursuant to Section&#160;12(b)&#160;of
the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left; text-indent: 0">Emerging growth company&#160;<span style="font-family: Segoe UI Symbol,sans-serif"><span id="xdx_905_edei--EntityEmergingGrowthCompany_c20220721__20220721_zBuQ7uuY7Wqh"><ix:nonNumeric contextRef="From2022-07-21to2022-07-21" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act.&#160;<span style="font-family: Segoe UI Symbol,sans-serif">&#9744;</span></p>

<p style="margin: 0">&#160;</p>



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<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

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<p style="margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

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<td style="width: 0"></td><td style="width: 51.5pt"><b>Item 1.01</b></td><td><b>Entry into a Material Definitive Agreement. </b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On July 21, 2022 (the &#8220;Closing Date&#8221;), our Avis Budget
Rental Car Funding (AESOP) LLC subsidiary (&#8220;ABRCF&#8221;) issued $396 million of asset-backed securities with a maturity of three
years, comprised of $321.75 million aggregate principal amount of Series 2022-3 4.62%, Class A notes, $45 million aggregate principal
amount of Series 2022-3 5.31%, Class B notes and $29.25 million aggregate principal amount of Series 2022-3 6.48%, Class C notes.  Additionally, ABRCF will retain $54 million aggregate
principal amount of Series 2022-3 8.42%, Class D notes, which may be issued on a future date. The Class D notes are subordinated to the
Class A notes, Class B notes and Class C notes. ABRCF also issued $24.75 million aggregate principal amount of Series 2022-3 9.381%, Class
R notes, which are subordinated to the Class A notes, the Class B notes, the Class C notes and the Class D notes and were issued to comply
with applicable U.S. risk retention rules. The Class R notes are held by our AESOP Leasing L.P. subsidiary. The notes were issued under
the Series 2022-3 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee
and Series 2022-3 Agent (the &#8220;Series 2022-3 Supplement&#8221;), to the Second Amended and Restated Base Indenture, dated as of June 3,
2004 (as amended, the &#8220;Base Indenture&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On the Closing Date, ABRCF also issued $374 million of asset-backed
securities with a maturity of five years, comprised of $303.75 million aggregate principal amount of Series 2022-4 4.77%, Class A notes,
$42.5 million aggregate principal amount of Series 2022-4 5.46%, Class B notes and $27.625 million aggregate principal amount of Series
2022-4 6.68%, Class C notes. Additionally, ABRCF will retain $51 million aggregate principal amount of Series 2022-4 8.61%, Class D notes,
which may be issued on a future date. The Class D notes are subordinated to the Class A notes, Class B notes and Class C notes. ABRCF
also issued $23.4 million aggregate principal amount of Series 2022-4 9.585%, Class R notes, which are subordinated to the Class A notes,
the Class B notes, the Class C notes and the Class D notes and were issued to comply with applicable U.S. risk retention rules. The Class
R notes are held by our AESOP Leasing L.P. subsidiary. The notes were issued under the Series 2022-4 Supplement, dated as of the Closing
Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2022-4 Agent (the &#8220;Series 2022-4
Supplement&#8221;), to the Base Indenture.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On the Closing Date and subsequent to the closing of the issuances
of the Series 2022-3 notes and the Series 2022-4 notes, ABRCF irrevocably reduced to zero the commitment amounts available under the
Series 2022-2 Supplement, dated as of June 7, 2022 among ABRCF, Avis Budget Car Rental, LLC, as Administrator, JPMorgan Chase Bank, N.A.,
as Administrative Agent, the Non-Conduit Purchasers, the CP Conduit Purchasers, the Committed Note Purchasers, the APA Banks and the
Funding Agents named therein, and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2022-2 Agent, to the Base
Indenture.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The notes are secured under the Base Indenture primarily by vehicles
in our domestic fleet and other related assets. The foregoing summary of the notes is qualified in its entirety by reference to the full
text of the Series 2022-3 Supplement, a copy of which is attached hereto as Exhibit 10.1 and the Series 2022-4 Supplement, a copy of which
is attached hereto as Exhibit 10.2, respectively, and, in each case, which is incorporated by reference herein.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Certain purchasers of the notes, the trustee and their respective
affiliates have performed, and may in the future perform, various commercial banking, investment banking and other financial advisory
services for us and our subsidiaries for which they have received, and will receive, customary fees and expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 51.5pt"><b>Item 2.03</b></td><td><b>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. </b></td></tr></table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">The information described above under Item 1.01 of this report is
incorporated into this Item 2.03 by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following exhibits are filed as part of this report:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    No.</b></span></td>
    <td style="width: 3%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: Black 1pt solid; text-align: left; width: 88%; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">10.1</span></td>
    <td>&#160;</td>
    <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><a href="eh220272511_ex1001.htm">Series 2022-3 Supplement, dated as of July 21, 2022, between Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2022-3 Agent.</a></p></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td>&#160;</td>
    <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><a href="eh220272511_ex1002.htm">Series 2022-4 Supplement, dated as of July 21, 2022, between Avis Budget Rental Car Funding (AESOP) LLC and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2022-4 Agent.</a></p></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
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    <td>&#160;</td>
    <td><span style="font-size: 10pt">The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"><b>&#160;</b></p>



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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="text-transform: uppercase"><b>SIGNATURE</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: left; text-indent: 0.5in">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"></p>

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<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td colspan="2"><span style="font: 10pt Times New Roman, Times, Serif"><b>AVIS BUDGET GROUP, INC.</b></span></td>
  <td>&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td style="width: 55%">&#160;</td>
  <td style="width: 5%">&#160;</td>
  <td style="width: 30%">&#160;</td>
  <td style="width: 10%">&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td>
  <td>&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>By:</td>
  <td style="border-bottom: Black 1pt solid">/s/ Jean Sera</td>
  <td>&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>Name:</td>
  <td>Jean Sera</td>
  <td>&#160;</td></tr>
<tr style="vertical-align: top; text-align: left">
  <td>&#160;</td>
  <td>Title:</td>
  <td>Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary</td>
  <td>&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-indent: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0">Date: July 22, 2022</p>

<p style="margin: 0pt 0 0">&#160;</p>

<p style="margin: 0pt 0 0">&#160;</p>

<p style="margin: 0"></p>

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<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: right"><B>EXHIBIT 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: right"><B>EXECUTION VERSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">AVIS BUDGET RENTAL CAR FUNDING (AESOP) LLC,<BR>
as Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,<BR>
as Trustee and Series 2022-3 Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">SERIES 2022-3 SUPPLEMENT<BR>
dated as of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">July 21, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">SECOND AMENDED AND RESTATED BASE INDENTURE<BR>
dated as of June 3, 2004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-3 4.62% Rental Car Asset Backed Notes,
Class A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-3 5.31% Rental Car Asset Backed Notes,
Class B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-3 6.48% Rental Car Asset Backed Notes,
Class C</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-3 8.42% Rental Car Asset Backed Notes,
Class D</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-3 9.381% Rental Car Asset Backed Notes,
Class R</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>TABLE OF CONTENTS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><I>&nbsp;</I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right"><U>Page</U></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE I DEFINITIONS</TD>
    <TD STYLE="text-align: right">2</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE II SERIES 2022-3 ALLOCATIONS</TD>
    <TD STYLE="text-align: right">29</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left; width: 15%">Section 2.1.</TD>
    <TD STYLE="text-align: left; width: 80%">Establishment of Series 2022-3 Collection Account, Series 2022-3 Excess Collection Account and Series 2022-3 Accrued Interest Account</TD>
    <TD STYLE="text-align: right; width: 5%">29</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.2.</TD>
    <TD STYLE="text-align: left">Allocations with Respect to the Series 2022-3 Notes</TD>
    <TD STYLE="text-align: right">29</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.3.</TD>
    <TD STYLE="text-align: left">Payments to Noteholders</TD>
    <TD STYLE="text-align: right">34</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.4.</TD>
    <TD STYLE="text-align: left">Payment of Note Interest</TD>
    <TD STYLE="text-align: right">38</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.5.</TD>
    <TD STYLE="text-align: left">Payment of Note Principal</TD>
    <TD STYLE="text-align: right">38</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.6.</TD>
    <TD STYLE="text-align: left">Administrator&#8217;s Failure to Instruct the Trustee to Make a Deposit, Draw or Payment</TD>
    <TD STYLE="text-align: right">43</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.7.</TD>
    <TD STYLE="text-align: left">Series 2022-3 Reserve Account</TD>
    <TD STYLE="text-align: right">44</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.8.</TD>
    <TD STYLE="text-align: left">Multi-Series Letters of Credit and Series 2022-3 Cash Collateral Account</TD>
    <TD STYLE="text-align: right">46</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.9.</TD>
    <TD STYLE="text-align: left">Series 2022-3 Distribution Account</TD>
    <TD STYLE="text-align: right">50</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.10.</TD>
    <TD STYLE="text-align: left">Series 2022-3 Accounts Permitted Investments</TD>
    <TD STYLE="text-align: right">52</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.11.</TD>
    <TD STYLE="text-align: left">Series 2022-3 Demand Notes Constitute Additional Collateral for Series 2022-3 Senior Notes</TD>
    <TD STYLE="text-align: right">52</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 2.12.</TD>
    <TD STYLE="text-align: left">Subordination of the Class B Notes, Class C Notes, Class D Notes, Class E Notes and the Class R Notes</TD>
    <TD STYLE="text-align: right">53</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE III AMORTIZATION EVENTS</TD>
    <TD STYLE="text-align: right">55</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE IV FORM OF SERIES 2022-3 NOTES</TD>
    <TD STYLE="text-align: right">56</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 4.1.</TD>
    <TD STYLE="text-align: left">Restricted Global Series 2022-3 Notes</TD>
    <TD STYLE="text-align: right">56</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 4.2.</TD>
    <TD STYLE="text-align: left">Temporary Global Series 2022-3 Notes; Permanent Global Series 2022-3 Notes</TD>
    <TD STYLE="text-align: right">56</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE V GENERAL</TD>
    <TD STYLE="text-align: right">57</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.1.</TD>
    <TD STYLE="text-align: left">Optional Repurchase</TD>
    <TD STYLE="text-align: right">57</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.2.</TD>
    <TD STYLE="text-align: left">Information</TD>
    <TD STYLE="text-align: right">58</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.3.</TD>
    <TD STYLE="text-align: left">Exhibits</TD>
    <TD STYLE="text-align: right">58</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.4.</TD>
    <TD STYLE="text-align: left">Ratification of Base Indenture</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.5.</TD>
    <TD STYLE="text-align: left">Counterparts</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.6.</TD>
    <TD STYLE="text-align: left">Governing Law</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.7.</TD>
    <TD STYLE="text-align: left">Amendments</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.8.</TD>
    <TD STYLE="text-align: left">Discharge of Base Indenture</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.9.</TD>
    <TD STYLE="text-align: left">Notice to Rating Agencies</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.10.</TD>
    <TD STYLE="text-align: left">Capitalization of ABRCF</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.11.</TD>
    <TD STYLE="text-align: left">Required Noteholders</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.12.</TD>
    <TD STYLE="text-align: left">Series 2022-3 Demand Notes</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.13.</TD>
    <TD STYLE="text-align: left">Termination of Supplement</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.14.</TD>
    <TD STYLE="text-align: left">Noteholder Consent to Certain Amendments</TD>
    <TD STYLE="text-align: right">61</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.15.</TD>
    <TD STYLE="text-align: left">Issuance of Class E Notes and Additional Class R Notes</TD>
    <TD STYLE="text-align: right">61</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.16.</TD>
    <TD STYLE="text-align: left">Confidential Information</TD>
    <TD STYLE="text-align: right">63</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-align: left">Section 5.17.</TD>
    <TD STYLE="text-align: left">Capitalized Cost Covenant</TD>
    <TD STYLE="text-align: right">64</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><U>Page</U></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="width: 15%; text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">Section 5.18.</TD>
    <TD STYLE="width: 80%; text-align: left; padding-top: 0in; padding-bottom: 0pt">Further Limitation of Liability</TD>
    <TD STYLE="width: 5%; text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">Section 5.19.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">Series 2022-3 Agent</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">Section 5.20.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">Force Majeure</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">Section 5.21.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">Waiver of Jury Trial, etc</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">Section 5.22.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">Submission to Jurisdiction</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">Section 5.23.</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">Additional Terms of the Series 2022-3 Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">66</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">SERIES 2022-3 SUPPLEMENT,
dated as of July 21, 2022 (this &#8220;<U>Supplement</U>&#8221;), among AVIS BUDGET RENTAL CAR FUNDING (AESOP) LLC, a special purpose
limited liability company established under the laws of Delaware (&#8220;<U>ABRCF</U>&#8221;), <FONT STYLE="text-transform: uppercase">The
Bank of New York Mellon Trust Company, N.A. (</FONT>formerly known as The Bank of New York), a limited purpose national banking association
with trust powers, as trustee (in such capacity, and together with its successors in trust thereunder as provided in the Base Indenture
referred to below, the &#8220;<U>Trustee</U>&#8221;), and <FONT STYLE="text-transform: uppercase">The Bank of New York Mellon Trust Company,
N.A. (</FONT>formerly known as The Bank of New York), as agent (in such capacity, the &#8220;<U>Series 2022-3 Agent</U>&#8221;) for the
benefit of the Series 2022-3 Noteholders, to the Second Amended and Restated Base Indenture, dated as of June 3, 2004, between ABRCF and
the Trustee (as amended, modified or supplemented from time to time, exclusive of Supplements creating a new Series of Notes, the &#8220;<U>Base
Indenture</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center"><B>PRELIMINARY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">WHEREAS, Sections 2.2 and
12.1 of the Base Indenture provide, among other things, that ABRCF and the Trustee may at any time and from time to time enter into a
supplement to the Base Indenture for the purpose of authorizing the issuance of one or more Series of Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">NOW, THEREFORE, the parties
hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center"><B>DESIGNATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">There is hereby created a
Series of Notes to be issued pursuant to the Base Indenture and this Supplement, and such Series of Notes shall be designated generally
as the &#8220;Series 2022-3 Rental Car Asset Backed Notes&#8221;. The Series 2022-3 Notes shall be issued in up to six Classes, the first
of which shall be known as the &#8220;Class A Notes&#8221;, the second of which shall be known as the &#8220;Class B Notes&#8221;, the
third of which shall be known as the &#8220;Class C Notes&#8221;, the fourth of which shall be known as the &#8220;Class D Notes&#8221;,
the fifth of which shall be known as the &#8220;Class R Notes&#8221; and the sixth of which, if issued, shall be known as the &#8220;Class
E Notes&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">On the Series 2022-3 Closing
Date, ABRCF shall issue (i) one tranche of Class A Notes, which shall be designated as the &#8220;Series 2022-3 4.62% Rental Car Asset
Backed Notes, Class A&#8221;, (ii) one tranche of Class B Notes, which shall be designated as the &#8220;Series 2022-3 5.31% Rental Car
Asset Backed Notes, Class B&#8221;, (iii) one tranche of Class C Notes, which shall be designated as the &#8220;Series 2022-3 6.48% Rental
Car Asset Backed Notes, Class C&#8221;, (iv)&nbsp;one tranche of Class D Notes, which shall be designated the &#8220;Series 2022-3 8.42%
Rental Car Asset Backed Notes, Class D&#8221; and (v)&nbsp;one tranche of Class R Notes, which shall be designated the &#8220;Series 2022-3
9.381% Rental Car Asset Backed Notes, Class R&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">Subsequent to the Series
2022-3 Closing Date, ABRCF may on any date during the Series 2022-3 Revolving Period offer and sell additional Series 2022-3 Notes subject
to the conditions set forth in Section 5.15. Such additional Series 2022-3 Notes, if issued, shall be designated as the &#8220;Series
2022-3 Rental Car Asset Backed Notes, Class E&#8221; and shall be referred to herein as the &#8220;Class E Notes&#8221;.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">The Class A Notes, Class
B Notes, Class C Notes, Class D Notes, Class E Notes, if issued, and Class R Notes collectively, constitute the Series 2022-3 Notes. The
Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class C Notes shall
be subordinated in right of payment to the Class A Notes and Class B Notes, to the extent set forth herein. The Class D Notes shall be
subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class&nbsp;E
Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes, Class C Notes and Class D Notes, to the
extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes, the Class
D Notes and (if issued) the Class E Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">The proceeds from the sale
of the Class A Notes, Class B Notes, Class C Notes, Class D Notes and Class R Notes shall be deposited in the Collection Account and shall
be deemed to be Principal Collections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">The Series 2022-3 Notes are
a non&#45;Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to
&#8220;all&#8221; Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references
to &#8220;all&#8221; Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE I<BR>
<BR>
DEFINITIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
capitalized terms not otherwise defined herein are defined in the Definitions List attached to the Base Indenture as Schedule I thereto.
All Article, Section, Subsection or Exhibit references herein shall refer to Articles, Sections, Subsections or Exhibits of this Supplement,
except as otherwise provided herein. Unless otherwise stated herein, as the context otherwise requires or if such term is otherwise defined
in the Base Indenture, each capitalized term used or defined herein shall relate only to the Series 2022-3 Notes and not to any other
Series of Notes issued by ABRCF. In the event that a term used herein shall be defined both herein and in the Base Indenture, the definition
of such term herein shall govern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following words and phrases shall have the following meanings with respect to the Series 2022-3 Notes and the definitions of such terms
are applicable to the singular as well as the plural form of such terms and to the masculine as well as the feminine and neuter genders
of such terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>ABCR</U>&#8221;
means Avis Budget Car Rental, LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Additional Class
R Notes</U>&#8221; has the meaning set forth in Section 5.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Additional Notes
Closing Date</U>&#8221; has the meaning set forth in Section 5.15.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Adjusted Net Book
Value</U>&#8221; means, as of any date of determination, with respect to each Adjusted Program Vehicle as of such date, the product of
0.965 and the Net Book Value of such Adjusted Program Vehicle as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Applicable Distribution
Date</U>&#8221; means each Distribution Date occurring after the later of (i) the Optional Repurchase Distribution Date and (ii) the first
Distribution Date occurring during the Series 2022-3 Controlled Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Business Day</U>&#8221;
means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in New York City or in the city in which
the corporate trust office of the Trustee is located are authorized or obligated by law or executive order to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Certificate of
Lease Deficit Demand</U>&#8221; means a certificate substantially in the form of <U>Annex A</U> to any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Certificate of
Termination Date Demand</U>&#8221; means a certificate substantially in the form of <U>Annex D</U> to any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Certificate of
Termination Demand</U>&#8221; means a certificate substantially in the form of <U>Annex C</U> to any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Certificate of
Unpaid Demand Note Demand</U>&#8221; means a certificate substantially in the form of <U>Annex B</U> to any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class</U>&#8221;
means a class of the Series 2022-3 Notes, which may be the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes, the
Class E Notes (if issued) or the Class R Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Carryover
Controlled Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period,
the amount, if any, by which the portion of the Monthly Total Principal Allocation paid to the Class A Noteholders pursuant to Section
2.5(e)(i) for the previous Related Month was less than the Class A Controlled Distribution Amount for the previous Related Month; <U>provided</U>,
<U>however</U>, that for the first Related Month in the Series 2022-3 Controlled Amortization Period, the Class A Carryover Controlled
Amortization Amount shall be zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Controlled
Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period, $53,625,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Controlled
Distribution Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period, an amount
equal to the sum of the Class A Controlled Amortization Amount and any Class A Carryover Controlled Amortization Amount for such Related
Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class A Notes, which is $321,750,000.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class A Initial Invested Amount <U>minus</U> (b)
the amount of principal payments made to Class A Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Monthly
Interest</U>&#8221; means, with respect to (i) the initial Series 2022-3 Interest Period, an amount equal to $1,280,028.75 and (ii) any
other Series 2022-3 Interest Period, an amount equal to the product of (A) one-twelfth of the Class A Note Rate and (B) the Class A Invested
Amount on the first day of such Series 2022-3 Interest Period, after giving effect to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Note</U>&#8221;
means any one of the Series 2022-3 4.62% Rental Car Asset Backed Notes, Class A, executed by ABRCF and authenticated by or on behalf of
the Trustee, substantially in the form of <U>Exhibit A&#45;1</U>, <U>Exhibit A-2</U> or <U>Exhibit A-3</U>. Definitive Class A Notes shall
have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Note Rate</U>&#8221;
means 4.62% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Noteholder</U>&#8221;
means the Person in whose name a Class A Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Carryover
Controlled Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period,
the amount, if any, by which the portion of the Monthly Total Principal Allocation paid to the Class B Noteholders pursuant to Section
2.5(e)(ii) for the previous Related Month was less than the Class B Controlled Distribution Amount for the previous Related Month; <U>provided</U>,
<U>however</U>, that for the first Related Month in the Series 2022-3 Controlled Amortization Period, the Class B Carryover Controlled
Amortization Amount shall be zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Controlled
Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period, $7,500,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Controlled
Distribution Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period, an amount
equal to the sum of the Class B Controlled Amortization Amount and any Class B Carryover Controlled Amortization Amount for such Related
Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class B Notes, which is $45,000,000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class B Initial Invested Amount <U>minus</U> (b)
the amount of principal payments made to Class B Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Monthly
Interest</U>&#8221; means, with respect to (i) the initial Series 2022-3 Interest Period, an amount equal to $205,762.50 and (ii) any
other Series 2022-3 Interest Period,</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">an amount equal to the product of (A) one-twelfth
of the Class B Note Rate and (B) the Class B Invested Amount on the first day of such Series 2022-3 Interest Period, after giving effect
to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Note</U>&#8221;
means any one of the Series 2022-3 5.31% Rental Car Asset Backed Notes, Class B, executed by ABRCF and authenticated by or on behalf of
the Trustee, substantially in the form of <U>Exhibit B&#45;1</U>, <U>Exhibit B&#45;2</U> or <U>Exhibit B&#45;3</U>. Definitive Class B
Notes shall have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Note Rate</U>&#8221;
means 5.31% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Noteholder</U>&#8221;
means the Person in whose name a Class B Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Carryover
Controlled Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period,
the amount, if any, by which the portion of the Monthly Total Principal Allocation paid to the Class C Noteholders pursuant to Section
2.5(e)(iii) for the previous Related Month was less than the Class C Controlled Distribution Amount for the previous Related Month; <U>provided</U>,
<U>however</U>, that for the first Related Month in the Series 2022-3 Controlled Amortization Period, the Class C Carryover Controlled
Amortization Amount shall be zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Controlled
Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period, $4,875,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Controlled
Distribution Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period, an amount
equal to the sum of the Class C Controlled Amortization Amount and any Class C Carryover Controlled Amortization Amount for such Related
Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class C Notes, which is $29,250,000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class C Initial Invested Amount <U>minus</U> (b)
the amount of principal payments made to Class C Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Monthly
Interest</U>&#8221; means, with respect to (i) the initial Series 2022-3 Interest Period, an amount equal to $163,215.00 and (ii) any
other Series 2022-3 Interest Period, an amount equal to the product of (A) one-twelfth of the Class C Note Rate and (B) the Class C Invested
Amount on the first day of such Series 2022-3 Interest Period, after giving effect to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Note</U>&#8221;
means any one of the Series 2022-3 6.48% Rental Car Asset Backed Notes, Class C, executed by ABRCF and authenticated by or on behalf of
the Trustee,</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">substantially in the form of <U>Exhibit C&#45;1</U>,
<U>Exhibit C&#45;2</U> or <U>Exhibit C&#45;3</U>. Definitive Class C Notes shall have such insertions and deletions as are necessary to
give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Note Rate</U>&#8221;
means 6.48% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Noteholder</U>&#8221;
means the Person in whose name a Class C Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(iii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Carryover
Controlled Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period,
the amount, if any, by which the portion of the Monthly Total Principal Allocation paid to the Class D Noteholders pursuant to Section
2.5(e)(iv) for the previous Related Month was less than the Class D Controlled Distribution Amount for the previous Related Month; provided,
however, that for the first Related Month in the Series 2022-3 Controlled Amortization Period, the Class D Carryover Controlled Amortization
Amount shall be zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Controlled
Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period, $ 9,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Controlled
Distribution Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-3 Controlled Amortization Period, an amount
equal to the sum of the Class D Controlled Amortization Amount and any Class D Carryover Controlled Amortization Amount for such Related
Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class D Notes, which is $54,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class D Initial Invested Amount <U>minus</U> (b)
the amount of principal payments made to Class D Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Monthly
Interest</U>&#8221; means, (A) for so long as ABRCF owns 100% of the Class D Notes, $0 and (B) if ABRCF owns less than 100% of the Class
D Notes, with respect to (i) the initial Series 2022-3 Interest Period, an amount equal to $391,530.00 and (ii) any other Series 2022-3
Interest Period, an amount equal to the product of (A) one-twelfth of the Class D Note Rate and (B) the Class D Invested Amount on the
first day of such Series 2022-3 Interest Period, after giving effect to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Note</U>&#8221;
means any one of the Series 2022-3 8.42% Rental Car Asset Backed Notes, Class D, executed by ABRCF and authenticated by or on behalf of
the Trustee, substantially in the form of <U>Exhibit D&#45;1</U>, <U>Exhibit D&#45;2</U> or <U>Exhibit D&#45;3</U>. Definitive Class D
Notes shall have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Note Rate</U>&#8221;
means 8.42% per annum.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Noteholder</U>&#8221;
means the Person in whose name a Class D Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(iv).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class E Noteholder</U>&#8221;
means the Person in whose name a Class E Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class E Notes</U>&#8221;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Controlled
Amortization Amount</U>&#8221; means, (i) with respect to any Related Month during the Series 2022-3 Controlled Amortization Period other
than the Related Month immediately preceding the Series 2022-3 Expected Final Distribution Date, $0 and (ii)&nbsp;with respect to the
Related Month immediately preceding the Series 2022-3 Expected Final Distribution Date, the sum of (x)&nbsp;$24,750,000 and (y)&nbsp;the
aggregate principal amount of any Additional Class R Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class R Notes, which is $24,750,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class R Initial Invested Amount plus (b) the aggregate
principal amount of any Additional Class R Notes issued on or prior to such date <U>minus</U> (b) the amount of principal payments made
to Class R Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Monthly
Interest</U>&#8221; means, with respect to (i) the initial Series 2022-3 Interest Period, an amount equal to $199,932.56 and (ii) any
other Series 2022-3 Interest Period, an amount equal to the product of (A) one-twelfth of the Class R Note Rate and (B) the Class R Invested
Amount on the first day of such Series 2022-3 Interest Period, after giving effect to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Note</U>&#8221;
means any one of the Series 2022-3 9.381% Rental Car Asset Backed Notes, Class R, executed by ABRCF and authenticated by or on behalf
of the Trustee, substantially in the form of <U>Exhibit E&#45;1</U>, <U>Exhibit E&#45;2</U> or <U>Exhibit E&#45;3</U>. Definitive Class
R Notes shall have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Note Rate</U>&#8221;
means 9.381% per annum</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Noteholder</U>&#8221;
means the Person in whose name a Class R Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Clean-up Repurchase</U>&#8221;
means any optional repurchase pursuant to Section 5.1(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Clean-up Repurchase
Distribution Date</U>&#8221; has the meaning set forth in Section 5.1(a).</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Confirmation Condition</U>&#8221;
means, with respect to any Bankrupt Manufacturer which is a debtor in Chapter 11 Proceedings, a condition that shall be satisfied upon
the bankruptcy court having competent jurisdiction over such Chapter 11 Proceedings issuing an order that remains in effect approving
(i) the assumption of such Bankrupt Manufacturer&#8217;s Manufacturer Program (and the related Assignment Agreements) by such Bankrupt
Manufacturer or the trustee in bankruptcy of such Bankrupt Manufacturer under Section 365 of the Bankruptcy Code and at the time of such
assumption, the payment of all amounts due and payable by such Bankrupt Manufacturer under such Manufacturer Program and the curing of
all other defaults by the Bankrupt Manufacturer thereunder or (ii) the execution, delivery and performance by such Bankrupt Manufacturer
of a new post&#45;petition Manufacturer Program (and the related Assignment Agreements) on the same terms and covering the same Vehicles
as such Bankrupt Manufacturer&#8217;s Manufacturer Program (and the related Assignment Agreements) in effect on the date such Bankrupt
Manufacturer became subject to such Chapter 11 Proceedings and, at the time of the execution and delivery of such new post&#45;petition
Manufacturer Program, the payment of all amounts due and payable by such Bankrupt Manufacturer under such Manufacturer Program and the
curing of all other defaults by the Bankrupt Manufacturer thereunder; <U>provided</U>, <U>however</U>, that notwithstanding the foregoing,
the Confirmation Condition shall be deemed satisfied until the 90<SUP>th</SUP> calendar day following the initial filing in respect of
such Chapter&nbsp;11 Proceedings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>Daily Simple SOFR</U>&#8221;
means, for any day (a &#8220;<U>SOFR Rate Day</U>&#8221;), SOFR for the day (such day, a &#8220;<U>SOFR Determination Date</U>&#8221;)
that is five (5) U.S. Government Securities Business Days prior to (i) if such SOFR Rate Day is a U.S. Government Securities Business
Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities
Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator&#8217;s
Website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Demand Note Issuer</U>&#8221;
means each issuer of a Series 2022-3 Demand Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Disbursement</U>&#8221;
means any Lease Deficit Disbursement, any Unpaid Demand Note Disbursement, any Termination Date Disbursement or any Termination Disbursement
under a Multi-Series Letter of Credit, or any combination thereof, as the context may require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Discounted Value</U>&#8221;
means, for each Remaining Distribution Amount, the amount obtained by discounting such Remaining Distribution Amount from the applicable
Distribution Date to the Optional Repurchase Distribution Date in accordance with accepted financial practice and at a discount factor
equal to the Reinvestment Yield with respect to such Remaining Distribution Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Finance Guide</U>&#8221;
means the Black Book Official Finance/Lease Guide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Fitch</U>&#8221;
means Fitch Ratings, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class A
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class B
Notes</U>&#8221; is defined in Section 4.2.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class C
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class D
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class R
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Initial Purchaser</U>&#8221;
means one or more placement agents or initial purchasers selected by ABRCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Lease Deficit Disbursement</U>&#8221;
means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Lease Deficit Demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Make Whole Payment</U>&#8221;
means, with respect to any Series 2022-3 Note on any Optional Repurchase Distribution Date, the <I>pro rata </I>share with respect to
such Series 2022-3 Note of the excess, if any, of (x) the sum of the Discounted Values for each Remaining Distribution Amount with respect
to each Applicable Distribution Date over (y) the Series 2022-3 Invested Amount as of such Optional Repurchase Distribution Date (determined
after giving effect to any payments made pursuant to Section 2.5(a) on such Distribution Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Market Value Average</U>&#8221;
means, as of any day, the percentage equivalent of a fraction, the numerator of which is the average of the Selected Fleet Market Value
as of the preceding Determination Date and the two Determination Dates precedent thereto and the denominator of which is the sum of (a)
the average of the aggregate Net Book Value of all Non&#45;Program Vehicles (excluding (i)&nbsp;any Unaccepted Program Vehicles, (ii)&nbsp;any
Excluded Redesignated Vehicles and (iii) any other Non&#45;Program Vehicles that are subject to a Manufacturer Program with an Eligible
Non&#45;Program Manufacturer with respect to which no Manufacturer Event of Default has occurred and is continuing) and (b) the average
of the aggregate Adjusted Net Book Value of all Adjusted Program Vehicles, in the case of each of clause (a) and (b) leased under the
AESOP I Operating Lease and the Finance Lease as of the preceding Determination Date and the two Determination Dates precedent thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Monthly Total Principal
Allocation</U>&#8221; means for any Related Month the sum of all Series 2022-3 Principal Allocations with respect to such Related Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Moody&#8217;s Excluded
Manufacturer Amount</U>&#8221; means, as of any date of determination, an amount equal to the excess, if any, of (x) the sum of the following
amounts with respect to each Moody&#8217;s Non-Investment Grade Manufacturer as of such date: the product of (i) to the extent such amounts
are included in the calculation of AESOP I Operating Lease Loan Agreement Borrowing Base as of such date, all amounts receivable as of
such date by AESOP Leasing or the Intermediary from such Moody&#8217;s Non-Investment Grade Manufacturer and (ii) the Moody&#8217;s Excluded
Manufacturer Receivable Specified Percentage for such Moody&#8217;s Non-Investment Grade Manufacturer as of such date over (y) the sum
of the following amounts with respect to each Moody&#8217;s Non-Investment Grade Manufacturer as of such date: the product of (i) the
aggregate Net Book Value of any Vehicles subject to a Manufacturer Program from such Manufacturer that have had a Turnback Date but for
which (A) AESOP Leasing or its Permitted Nominee continues to be named as the owner of the Vehicle on the Certificate of Title for such
Vehicle and (B) AESOP Leasing or its agent continues to hold the Certificate of Title</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">for such Vehicle and (ii) the Moody&#8217;s
Turnback Vehicle Specified Percentage for such Moody&#8217;s Non-Investment Grade Manufacturer as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Moody&#8217;s Excluded
Manufacturer Receivable Specified Percentage</U>&#8221; means, as of any date of determination, with respect to each Moody&#8217;s Non&#45;Investment
Grade Manufacturer as of such date, the percentage (not to exceed 100%) most recently specified in writing by Moody&#8217;s to ABRCF and
the Trustee and consented to by the Requisite Series 2022-3 Noteholders with respect to such Moody&#8217;s Non&#45;Investment Grade Manufacturer;
<U>provided</U>, <U>however</U>, that as of the Series 2022-3 Closing Date the Moody&#8217;s Excluded Manufacturer Receivable Specified
Percentage for each Moody&#8217;s Non&#45;Investment Grade Manufacturer shall be 100%; <U>provided</U>, <U>further</U>, that the initial
Moody&#8217;s Excluded Manufacturer Receivable Specified Percentage with respect to any Manufacturer that becomes a Moody&#8217;s Non&#45;Investment
Grade Manufacturer after the Series 2022-3 Closing Date shall be 100%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Moody&#8217;s Non&#45;Investment
Grade Manufacturer</U>&#8221; means, as of any date of determination, any Manufacturer that (i) is not a Bankrupt Manufacturer and (ii)
does not have either (A) a long-term corporate family rating of at least &#8220;Baa3&#8221; from Moody&#8217;s or (B) if such Manufacturer
does not have a long-term corporate family rating from Moody&#8217;s as of such date, a long-term senior unsecured debt rating of at least
&#8220;Ba1&#8221; from Moody&#8217;s; <U>provided</U>, <U>however</U>, that any Manufacturer whose long-term corporate family rating is
downgraded from at least &#8220;Baa3&#8221; to below &#8220;Baa3&#8221; by Moody&#8217;s or whose long-term senior unsecured debt rating
is downgraded from at least &#8220;Ba1&#8221; to below &#8220;Ba1&#8221; by Moody&#8217;s, as applicable, after the Series 2022-3 Closing
Date shall not be deemed a Moody&#8217;s Non-Investment Grade Manufacturer until the thirtieth (30<SUP>th</SUP>) calendar day following
such downgrade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Moody&#8217;s Turnback
Vehicle Specified Percentage</U>&#8221; means, as of any date of determination: (i) with respect to each Moody&#8217;s Non-Investment
Grade Manufacturer that has a long-term corporate family rating from Moody&#8217;s on such date of determination of at least &#8220;Ba3&#8221;
(or, if such Moody&#8217;s Non-Investment Grade Manufacturer does not have a long-term corporate family rating from Moody&#8217;s as of
such date, a long-term senior unsecured debt rating of at least &#8220;B1&#8221;), 65%; (ii) with respect to each Moody&#8217;s Non-Investment
Grade Manufacturer that has a long-term corporate family rating from Moody&#8217;s on such date of determination of at least &#8220;B3&#8221;
but less than &#8220;Ba3&#8221; (or, if such Moody&#8217;s Non-Investment Grade Manufacturer does not have a long-term corporate family
rating from Moody&#8217;s as of such date, a long-term senior unsecured debt rating of at least &#8220;Caa1&#8221; but less than &#8220;B1&#8221;),
25%; and (iii) with respect to any other Moody&#8217;s Non-Investment Grade Manufacturer, 0%; <U>provided</U>, <U>however</U>, that any
Manufacturer whose long-term corporate family rating or long-term senior unsecured debt rating from Moody&#8217;s is downgraded after
the Series 2022-3 Closing Date shall be deemed to retain its long-term corporate family rating or long-term senior unsecured debt rating,
as applicable, from Moody&#8217;s in effect immediately prior to such downgrade until the thirtieth (30<SUP>th</SUP>) calendar day following
such downgrade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Multi-Series Letter
of Credit</U>&#8221; means an irrevocable letter of credit, if any, substantially in the form of <U>Exhibit G</U> issued by a Series 2022-3
Eligible Letter of Credit Provider in favor of the Trustee for the benefit, in whole or in part, of the Series 2022-3 Noteholders (<U>provided</U>
that a Multi-Series Letter of Credit may also benefit Noteholders of certain other Series).</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Multi-Series Letter
of Credit Expiration Date</U>&#8221; means, with respect to any Multi-Series Letter of Credit, the expiration date set forth in such Multi-Series
Letter of Credit, as such date may be extended in accordance with the terms of such Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Multi-Series Letter
of Credit Provider</U>&#8221; means any issuer of any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Multi-Series Letter
of Credit Termination Date</U>&#8221; means the first to occur of (a)&nbsp;the date on which the Series 2022-3 Notes are fully paid and
(b) the Series 2022-3 Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>NYFRB</U>&#8221; means
the Federal Reserve Bank of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>NYFRB&#8217;s Website</U>&#8221;
means the website of the NYFRB at http://www.newyorkfed.org, or any successor source.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Optional Repurchase</U>&#8221;
is defined in Section 5.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Optional Repurchase
Distribution Date</U>&#8221; is defined in Section 5.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Past Due Rent Payment</U>&#8221;
is defined in Section 2.2(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class A Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class B Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class C Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class D Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class R Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Series 2022-3 Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Pre&#45;Preference
Period Demand Note Payments</U>&#8221; means, as of any date of determination, the aggregate amount of all proceeds of demands made on
the Series 2022-3 Demand Notes included in the Series 2022-3 Demand Note Payment Amount as of the Multi-Series Letter of Credit Termination
Date that were paid by the Demand Note Issuers more than one year before such date of determination; <U>provided</U>, <U>however</U>,
that if an Event of Bankruptcy (or the occurrence of an event described in clause (a) of the definition thereof, without the lapse of
a period of sixty (60) consecutive days) with respect to a Demand Note Issuer occurs during such one&#45;year period, (x) the Pre&#45;Preference
Period Demand Note Payments as of any date during the period from and including the date of the occurrence of such Event of Bankruptcy
to and including the conclusion or dismissal of the proceedings giving rise to such Event of Bankruptcy without continuing jurisdiction
by the court in such proceedings shall equal the Pre&#45;Preference Period Demand Note Payments as of the date of such occurrence for
all Demand Note Issuers and (y) the Pre&#45;Preference Period Demand Note Payments as of any date after the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">conclusion or dismissal of such proceedings
shall equal the Series 2022-3 Demand Note Payment Amount as of the date of the conclusion or dismissal of such proceedings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Principal Deficit
Amount</U>&#8221; means, as of any date of determination, the excess, if any, of (i) the Series 2022-3 Senior Invested Amount on such
date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution
Date) over (ii) the Series 2022-3 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; <U>provided</U>, <U>however</U>,
that the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of
the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall
have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating
Lease, shall mean the excess, if any, of (x) the Series 2022-3 Senior Invested Amount on such date (after giving effect to the distribution
of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2022-3
AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2022-3 Liquidity Amount on such
date and (b) the Series 2022-3 Required Liquidity Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Proposed Class
E Notes</U>&#8221; has the meaning set forth in Section 5.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Pro Rata Share</U>&#8221;
means, with respect to any Multi-Series Letter of Credit Provider as of any date, the fraction (expressed as a percentage) obtained by
dividing (A) the available amount allocated to the Series 2022-3 Notes under such Multi-Series Letter of Credit Provider&#8217;s Multi-Series
Letter of Credit as of such date by (B) an amount equal to the aggregate available amount allocated to the Series 2022-3 Notes under all
Multi-Series Letters of Credit as of such date; <U>provided</U>, <U>however</U>, that only for purposes of calculating the Pro Rata Share
with respect to any Multi-Series Letter of Credit Provider as of any date, if such Multi-Series Letter of Credit Provider has not complied
with its obligation to pay the Trustee the amount of any draw under the Multi-Series Letter of Credit made prior to such date, the available
amount under such Multi-Series Letter of Credit as of such date shall be treated as reduced (for calculation purposes only) by the amount
of such unpaid demand and shall not be reinstated for purposes of such calculation unless and until the date as of which such Multi-Series
Letter of Credit Provider has paid such amount to the Trustee and been reimbursed by the Lessee or the applicable Demand Note Issuer,
as the case may be, for such amount (<U>provided</U>, <U>however</U>, that the foregoing calculation shall not in any manner reduce the
undersigned&#8217;s actual liability in respect of any failure to pay any demand under the Multi-Series Letter of Credit).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Reinvestment Yield</U>&#8221;
means, with respect to any Remaining Distribution Amount, the sum of (i) 0.25% and (ii) the greater of (x) 0% and (y) the U.S. Treasury
Rate with respect to such Remaining Distribution Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Remaining Distribution
Amount</U>&#8221; means, with respect to each Applicable Distribution Date, the sum of (i) the sum of (x) an amount equal to the Class
A Controlled Amortization Amount with respect to the Related Month immediately preceding such Applicable Distribution Date (or, if the
Optional Repurchase Distribution Date occurs after the September 2025 Distribution Date, the Class A Controlled Distribution Amount with
respect to the Related</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Month preceding the first such Applicable Distribution
Date) and (y) the interest that will accrue on such amount from the Optional Repurchase Distribution Date to such Applicable Distribution
Date at the Class A Note Rate, (ii) the sum of (x) an amount equal to the Class B Controlled Amortization Amount with respect to the Related
Month immediately preceding such Applicable Distribution Date (or, if the Optional Repurchase Distribution Date occurs after the September
2025 Distribution Date, the Class B Controlled Distribution Amount with respect to the Related Month preceding the first such Applicable
Distribution Date) and (y) the interest that will accrue on such amount from the Optional Repurchase Distribution Date to such Applicable
Distribution Date at the Class B Note Rate, (iii) the sum of (x) an amount equal to the Class C Controlled Amortization Amount with respect
to the Related Month immediately preceding such Applicable Distribution Date (or, if the Optional Repurchase Distribution Date occurs
after the September 2025 Distribution Date, the Class C Controlled Distribution Amount with respect to the Related Month preceding the
first such Applicable Distribution Date) and (y) the interest that will accrue on such amount from the Optional Repurchase Distribution
Date to such Applicable Distribution Date at the Class C Note Rate, (iv) the sum of (x) an amount equal to the Class D Controlled Amortization
Amount with respect to the Related Month immediately preceding such Applicable Distribution Date (or, if the Optional Repurchase Distribution
Date occurs after the September 2025 Distribution Date, the Class D Controlled Distribution Amount with respect to the Related Month preceding
the first such Applicable Distribution Date) and (y) the interest that will accrue on such amount from the Optional Repurchase Distribution
Date to such Applicable Distribution Date at the Class D Note Rate and (v) the sum of (x) an amount equal to the Class R Controlled Amortization
Amount with respect to the Related Month immediately preceding such Applicable Distribution Date (or, if the Optional Repurchase Distribution
Date occurs after the September 2025 Distribution Date, the Class R Controlled Amortization Amount with respect to the Related Month preceding
the first such Applicable Distribution Date) and (y) the interest that will accrue on such amount from the Optional Repurchase Distribution
Date to such Applicable Distribution Date at the Class R Note Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Required Controlling
Class Series 2022-3 Noteholders</U>&#8221; means (i) for so long as any Class A Notes are outstanding, Class A Noteholders holding more
than 50% of the Class A Invested Amount, (ii) if no Class A Notes are outstanding and for so long as any Class B Notes are outstanding,
Class B Noteholders holding more than 50% of the Class B Invested Amount, (iii) if no Class A Notes or Class B Notes are outstanding,
Class C Noteholders holding more than 50% of the Class C Invested Amount, (iv) if no Class A Notes, Class B Notes or Class C Notes are
outstanding, Class D Noteholders holding more than 50% of the Class C Invested Amount (excluding, for the purposes of making any of the
foregoing calculations, any Series 2022-3 Notes held by ABCR or any Affiliate of ABCR unless ABCR or such Affiliate is the sole Series
2022-3 Noteholder) and (v) if no Class A Notes, Class B Notes, Class C Notes or Class D Notes are outstanding, Class R Noteholders holding
more than 50% Class R Invested Amount (excluding, for the purposes of making any of the foregoing calculations, any Series 2022-3 Notes
held by ABCR or any Affiliate of ABCR unless ABCR or such Affiliate is the sole Series 2022-3 Noteholder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Requisite Series
2022-3 Noteholders</U>&#8221; means Class A Noteholders, Class B Noteholders, Class C Noteholders, Class D Noteholders and/or Class R
Noteholders holding, in the aggregate, more than 50% of the Series 2022-3 Invested Amount (excluding, for the purposes</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">of making the foregoing calculation, any Series
2022-3 Notes held by ABCR or any Affiliate of ABCR or such Affiliate unless ABCR is the sole Series 2022-3 Noteholder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class A Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class B Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class C Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class D Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class R Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Selected Fleet
Market Value</U>&#8221; means, with respect to all Adjusted Program Vehicles and all Non&#45;Program Vehicles (excluding (i) any Unaccepted
Program Vehicles, (ii)&nbsp;any Excluded Redesignated Vehicles and (iii) any other Non&#45;Program Vehicles that are subject to a Manufacturer
Program with an Eligible Non&#45;Program Manufacturer with respect to which no Manufacturer Event of Default has occurred and is continuing)
as of any date of determination, the sum of the respective Market Values of each such Adjusted Program Vehicle and each such Non&#45;Program
Vehicle, in each case subject to the AESOP I Operating Lease or the Finance Lease as of such date. For purposes of computing the Selected
Fleet Market Value, the &#8220;Market Value&#8221; of an Adjusted Program Vehicle or a Non&#45;Program Vehicle means the market value
of such Vehicle as specified in the most recently published NADA Guide for the model class and model year of such Vehicle based on the
average equipment and the average mileage of each Vehicle of such model class and model year then leased under the AESOP I Operating Lease
and the Finance Lease; <U>provided</U>, <U>however</U>, that if the NADA Guide is not being published or the NADA Guide is being published
but such Vehicle is not included therein, the Market Value of such Vehicle shall be based on the market value specified in the most recently
published Finance Guide for the model class and model year of such Vehicle based on the average equipment and the average mileage of each
Vehicle of such model class and model year then leased under the AESOP I Operating Lease or the Finance Lease; <U>provided</U>, <U>further</U>,
that if the Finance Guide is being published but such Vehicle is not included therein, the Market Value of such Vehicle shall mean (x)
in the case of an Adjusted Program Vehicle, the Adjusted Net Book Value of such Adjusted Program Vehicle and (y) in the case of a Non&#45;Program
Vehicle, the Net Book Value of such Non&#45;Program Vehicle <U>provided</U>, <U>further</U>, that if the Finance Guide is not being published,
the Market Value of such Vehicle shall be based on an independent third&#45;party data source selected by the Administrator and approved
by each Rating Agency that is rating any Series of Notes at the request of ABRCF based on the average equipment and average mileage of
each Vehicle of such model class and model year then leased under the AESOP I Operating Lease or the Finance Lease; <U>provided</U>, <U>further</U>,
that if no such third&#45;party data source or methodology shall have been so approved or any such third&#45;party data source or methodology
is not available, the Market Value of such Vehicle shall be equal to a reasonable estimate of the wholesale market value of such Vehicle
as determined by the Administrator, based on the Net Book Value of such Vehicle and any other factors deemed relevant by the Administrator.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2010-6 Notes</U>&#8221;
means the Series of Notes designated as the Series 2010-6 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2011-4 Notes</U>&#8221;
means the Series of Notes designated as the Series 2011-4 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2015-3 Notes</U>&#8221;
means the Series of Notes designated as the Series 2015-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2017-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2017-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2017-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2017-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2018-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2018-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2018-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2018-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2019-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2019-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2019-3 Notes</U>&#8221;
means the Series of Notes designated as the Series 2019-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2020-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2020-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2020-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2020-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2021-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2021-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2021-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2021-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2022-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2022-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Accounts</U>&#8221;
means each of the Series 2022-3 Distribution Account, the Series 2022-3 Reserve Account, the Series 2022-3 Collection Account, the Series
2022-3 Excess Collection Account and the Series 2022-3 Accrued Interest Account.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Accrued
Interest Account</U>&#8221; is defined in Section 2.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 AESOP
I Operating Lease Loan Agreement Borrowing Base</U>&#8221; means, as of any date of determination, the product of (a) the Series 2022-3
AESOP I Operating Lease Vehicle Percentage as of such date and (b) the excess of (i)&nbsp;the AESOP I Operating Lease Loan Agreement Borrowing
Base as of such date <U>over</U> (ii)&nbsp;the Moody&#8217;s Excluded Manufacturer Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 AESOP
I Operating Lease Vehicle Percentage</U>&#8221; means, as of any date of determination, a fraction, expressed as a percentage (which percentage
shall never exceed 100%), the numerator of which is the Series 2022-3 Required AESOP I Operating Lease Vehicle Amount as of such date
and the denominator of which is the sum of the Required AESOP I Operating Lease Vehicle Amounts for all Series of Notes as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Agent</U>&#8221;
is defined in the recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Allocated
Cash Amount</U>&#8221; means, as of any date of determination, an amount equal to (x) all cash on deposit in the Collection Account as
of such date <I>times</I> (y) the Series 2022-3 Invested Percentage (calculated with respect to Principal Collections) as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Allocated
Multi-Series Letter of Credit Amount</U>&#8221; means, as of any date of determination, the lesser of (a) the Series 2022-3 Allocated
Multi-Series Letter of Credit Liquidity Amount on such date and (b) the aggregate outstanding principal amount of the Series 2022-3 Demand
Notes on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Allocated
Multi-Series Letter of Credit Liquidity Amount</U>&#8221; means, as of any date of determination, the sum of (a) the Series 2022-3 Applicable
Multi-Series L/C Amount as of such date under each Multi-Series Letters of Credit on which no draw has been made pursuant to Section 2.8(c),
and (b) if the Series 2022-3 Cash Collateral Account has been established and funded pursuant to Section&nbsp;2.8, the Series 2022-3 Available
Cash Collateral Account Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Applicable
Multi-Series L/C Amount</U>&#8221; means, as of any date of determination, an amount equal to the sum, for each Multi-Series Letter of
Credit, of (1) the aggregate amount available to be drawn on such date under such Multi-Series Letter of Credit <I>times</I> (2) an amount
(expressed as a percentage) equal to the Series 2022-3 Required Liquidity Amount divided by &#8220;Required Liquidity Amount&#8221; for
each applicable Series for which such Multi-Series Letter of Credit is providing credit enhancement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Available
Cash Collateral Account Amount</U>&#8221; means, as of any date of determination, the amount on deposit in the Series 2022-3 Cash Collateral
Account (after giving effect to any deposits thereto and withdrawals and releases therefrom on such date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Available
Reserve Account Amount</U>&#8221; means, as of any date of determination, the amount on deposit in the Series 2022-3 Reserve Account (after
giving effect to any deposits thereto and withdrawals and releases therefrom on such date).</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Cash
Collateral Account</U>&#8221; is defined in Section&nbsp;2.8(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Cash
Collateral Account Collateral</U>&#8221; is defined in Section&nbsp;2.8(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Cash
Collateral Account Surplus</U>&#8221; means, with respect to any Distribution Date, the lesser of (a) the Series 2022-3 Available Cash
Collateral Account Amount and (b) the lesser of (A) the excess, if any, of the Series 2022-3 Liquidity Amount (after giving effect to
any withdrawal from the Series 2022-3 Reserve Account on such Distribution Date) over the Series 2022-3 Required Liquidity Amount on such
Distribution Date and (B) the excess, if any, of the Series 2022-3 Enhancement Amount (after giving effect to any withdrawal from the
Series 2022-3 Reserve Account on such Distribution Date) over the Series 2022-3 Required Enhancement Amount on such Distribution Date;
<U>provided</U>, <U>however</U>, that, on any date after the Multi-Series Letter of Credit Termination Date, the Series 2022-3 Cash Collateral
Account Surplus shall mean the excess, if any, of (x) the Series 2022-3 Available Cash Collateral Account Amount over (y) the Series 2022-3
Demand Note Payment Amount <U>minus</U> the Pre&#45;Preference Period Demand Note Payments as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Cash
Collateral Percentage</U>&#8221; means, as of any date of determination, the percentage equivalent of a fraction, the numerator of which
is the Series 2022-3 Available Cash Collateral Account Amount as of such date and the denominator of which is the Series 2022-3 Allocated
Multi-Series Letter of Credit Liquidity Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Closing
Date</U>&#8221; means July 21, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Collateral</U>&#8221;
means the Collateral, the Multi-Series Letters of Credit, each Series 2022-3 Demand Note, the Series 2022-3 Distribution Account Collateral,
the Series 2022-3 Cash Collateral Account Collateral and the Series 2022-3 Reserve Account Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Collection
Account</U>&#8221; is defined in Section 2.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Controlled
Amortization Period</U>&#8221; means the period commencing upon the close of business on July 31, 2025 (or, if such day is not a Business
Day, the Business Day immediately preceding such day) and continuing to the earliest of (i) the commencement of the Series 2022-3 Rapid
Amortization Period, (ii) the date on which the Series 2022-3 Notes are fully paid and (iii) the termination of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Demand
Note</U>&#8221; means each demand note made by a Demand Note Issuer, substantially in the form of <U>Exhibit F</U>, as amended, modified
or restated from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Demand
Note Payment Amount</U>&#8221; means, as of the Multi-Series Letter of Credit Termination Date, the aggregate amount of all proceeds of
demands made on the Series 2022-3 Demand Notes pursuant to Section&nbsp;2.5(b) or (c) that were deposited into the Series 2022-3 Distribution
Account and paid to the Series 2022-3 Noteholders during the one year period ending on the Multi-Series Letter of Credit Termination Date;
<U>provided</U>, <U>however</U>, that if an Event of Bankruptcy (or the occurrence of an event described in clause (a) of the definition
thereof, without the lapse of a period of sixty (60) consecutive days) with respect to a Demand Note Issuer shall have occurred during
such one year period, the Series 2022-3 Demand Note</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Payment Amount as of the Multi-Series Letter
of Credit Termination Date shall equal the Series 2022-3 Demand Note Payment Amount as if it were calculated as of the date of such occurrence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Deposit
Date</U>&#8221; is defined in Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Distribution
Account</U>&#8221; is defined in Section 2.9(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Distribution
Account Collateral</U>&#8221; is defined in Section 2.9(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Eligible
Letter of Credit Provider</U>&#8221; means a Person satisfactory to ABCR and the Demand Note Issuers and having, at the time of the issuance
of the related Multi-Series Letter of Credit, a long-term senior unsecured debt rating (or the equivalent thereof) of at least &#8220;Al&#8221;
from Moody&#8217;s and at least &#8220;A+&#8221; from Fitch and a short-term senior unsecured debt rating of at least &#8220;P-1&#8221;
from Moody&#8217;s and at least &#8220;F1&#8221; from Fitch that is (a) a commercial bank having total assets in excess of $500,000,000,
(b) a finance company, insurance company or other financial institution that in the ordinary course of business issues letters of credit
and has total assets in excess of $200,000,000 or (c) any other financial institution; <U>provided</U>, <U>however</U>, that if a Person
is not a Multi-Series Letter of Credit Provider (or a letter of credit provider under the Series Supplement for any other Series of Notes),
then such Person shall not be a Series 2022-3 Eligible Letter of Credit Provider until ABRCF has provided 10 days&#8217; prior notice
to the Rating Agencies that such Person has been proposed as a Multi-Series Letter of Credit Provider.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Enhancement</U>&#8221;
means the Series 2022-3 Cash Collateral Account Collateral, the Multi-Series Letters of Credit, the Series 2022-3 Demand Notes, the Series
2022-3 Overcollateralization Amount and the Series 2022-3 Required Reserve Account Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Enhancement
Amount</U>&#8221; means, as of any date of determination, the sum of (i) the Series 2022-3 Overcollateralization Amount as of such date,
(ii) the Series 2022-3 Allocated Multi-Series Letter of Credit Amount as of such date, (iii) the Series 2022-3 Available Reserve Account
Amount as of such date and (iv) the amount of cash and Permitted Investments on deposit in the Series 2022-3 Collection Account (not including
amounts allocable to the Series 2022-3 Accrued Interest Account) and the Series 2022-3 Excess Collection Account as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Enhancement
Deficiency</U>&#8221; means, on any date of determination, the amount by which the Series 2022-3 Enhancement Amount is less than the Series
2022-3 Required Enhancement Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Excess
Collection Account</U>&#8221; is defined in Section 2.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Expected
Final Distribution Date</U>&#8221; means the February 2026 Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Final
Distribution Date</U>&#8221; means the February 2027 Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Interest
Period</U>&#8221; means a period commencing on and including a Distribution Date and ending on and including the day preceding the next
succeeding</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Distribution Date; <U>provided</U>, <U>however</U>,
that the initial Series 2022-3 Interest Period shall commence on and include the Series 2022-3 Closing Date and end on and include August
21, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Invested
Amount</U>&#8221; means, as of any date of determination, the sum of the Class A Invested Amount as of such date, the Class B Invested
Amount as of such date, the Class C Invested Amount as of such date, the Class D Invested Amount as of such date and the Class R Invested
Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Invested
Percentage</U>&#8221; means as of any date of determination:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;when
used with respect to Principal Collections, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator
of which shall be equal to the sum of the Series 2022-3 Invested Amount and the Series 2022-3 Overcollateralization Amount, determined
during the Series 2022-3 Revolving Period as of the end of the Related Month (or, until the end of the initial Related Month, on the Series
2022-3 Closing Date), or, during the Series 2022-3 Controlled Amortization Period and the Series 2022-3 Rapid Amortization Period, as
of the end of the Series 2022-3 Revolving Period, and the denominator of which shall be the greater of (I) the Aggregate Asset Amount
as of the end of the Related Month or, until the end of the initial Related Month, as of the Series 2022-3 Closing Date, and (II) as of
the same date as in clause (I), the sum of the numerators used to determine the invested percentages for allocations with respect to Principal
Collections (for all Series of Notes and all classes of such Series of Notes); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;when
used with respect to Interest Collections, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator
of which shall be the Accrued Amounts with respect to the Series 2022-3 Notes on such date of determination, and the denominator of which
shall be the aggregate Accrued Amounts with respect to all Series of Notes on such date of determination. For so long as ABRCF owns 100%
of the Class D Notes, the accrued and unpaid interest with respect to the Class D Notes shall be $0 for purposes of calculating the Accrued
Amounts with respect to the Series 2022-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Lease
Interest Payment Deficit</U>&#8221; means, on any Distribution Date, an amount equal to the excess, if any, of (1) the excess, if any,
of (a) the aggregate amount of Interest Collections which pursuant to Section 2.2(a), (b), (c) or (d) would have been allocated to the
Series 2022-3 Accrued Interest Account if all payments of Monthly Base Rent required to have been made under the Leases from and excluding
the preceding Distribution Date to and including such Distribution Date were made in full over (b) the aggregate amount of Interest Collections
which pursuant to Section 2.2(a), (b), (c) or (d) have been allocated to the Series 2022-3 Accrued Interest Account (excluding any amounts
paid into the Series 2022-3 Accrued Interest Account pursuant to the proviso in Sections 2.2(c)(ii) and/or 2.2(d)(ii)) from and excluding
the preceding Distribution Date to and including the Business Day immediately preceding such Distribution Date over (2) the Class R Monthly
Interest with respect to the Series 2022-3 Interest Period ended on the day preceding such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Lease
Payment Deficit</U>&#8221; means either a Series 2022-3 Lease Interest Payment Deficit or a Series 2022-3 Lease Principal Payment Deficit.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Lease
Principal Payment Carryover Deficit</U>&#8221; means (a) for the initial Distribution Date, zero and (b) for any other Distribution Date,
the excess of (x) the Series 2022-3 Lease Principal Payment Deficit, if any, on the preceding Distribution Date <U>over</U> (y) the amount
deposited in the Distribution Account on such preceding Distribution Date pursuant to Section 2.5(b) on account of such Series 2022-3
Lease Principal Payment Deficit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Lease
Principal Payment Deficit</U>&#8221; means on any Distribution Date, the sum of (a) the Series 2022-3 Monthly Lease Principal Payment
Deficit for such Distribution Date and (b) the Series 2022-3 Lease Principal Payment Carryover Deficit for such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Limited
Liquidation Event of Default</U>&#8221; means, so long as such event or condition continues, any event or condition of the type specified
in clauses (a) through (g) of Article III; <U>provided</U>, <U>however</U>, that any event or condition of the type specified in clauses
(a) through (g) of Article III shall not constitute a Series 2022-3 Limited Liquidation Event of Default if the Trustee shall have received
the written consent of the Requisite Series 2022-3 Noteholders waiving the occurrence of such Series 2022-3 Limited Liquidation Event
of Default. The Trustee shall promptly (but in any event within two (2) days) provide the Rating Agencies with written notice of such
waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Liquidity
Amount</U>&#8221; means, as of any date of determination, the sum of (a) the Series 2022-3 Allocated Multi-Series Letter of Credit Liquidity
Amount on such date and (b) the Series 2022-3 Available Reserve Account Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Amounts</U>&#8221; means, collectively, the Series 2022-3 Maximum Non-Program Vehicle Amount, the Series 2022-3 Maximum Jaguar Amount,
Series 2022-3 Maximum Tesla Amount, the Series 2022-3 Maximum Land Rover Amount, the Series 2022-3 Maximum Mitsubishi Amount, the Series
2022-3 Maximum Isuzu Amount, the Series 2022-3 Maximum Subaru Amount, the Series 2022-3 Maximum Hyundai Amount, the Series 2022-3 Maximum
Kia Amount, the Series 2022-3 Maximum Suzuki Amount, the Series 2022-3 Maximum Specified States Amount (if applicable), the Series 2022-3
Maximum Non-Perfected Vehicle Amount, the Series 2022-3 Maximum Non-Eligible Manufacturer Amount, the Series 2022-3 Maximum Used Vehicle
Amount and the Series 2022-3 Maximum Medium/Heavy Duty Truck Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Hyundai Amount</U>&#8221; means, as of any day, an amount equal to 55% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Isuzu Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Jaguar Amount</U>&#8221; means, as of any day, an amount equal to 12.5% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Kia Amount</U>&#8221; means, as of any day, an amount equal to 55% of the aggregate Net Book Value of all Vehicles leased under the Leases
on such day.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Land Rover Amount</U>&#8221; means, as of any day, an amount equal to 12.5% of the aggregate Net Book Value of all Vehicles leased under
the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Medium/Heavy Duty Truck Amount</U>&#8221; means, as of any day, an amount equal to 5% of the aggregate Net Book Value of all Vehicles
leased under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Mitsubishi Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased under
the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Non-Eligible Manufacturer Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles
leased under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Non-Perfected Vehicle Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased
under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Non-Program Vehicle Amount</U>&#8221; means, as of any day, an amount equal to the Series 2022-3 Maximum Non-Program Vehicle Percentage
of the aggregate Net Book Value of all Vehicles leased under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Non-Program Vehicle Percentage</U>&#8221; means, as of any date of determination, the sum of (a) 85% and (b) a fraction, expressed as
a percentage, the numerator of which is the aggregate Net Book Value of all Redesignated Vehicles manufactured by a Bankrupt Manufacturer
or a Manufacturer with respect to which a Manufacturer Event of Default has occurred, and in each case leased under the AESOP I Operating
Lease or the Finance Lease as of such date, and the denominator of which is the aggregate Net Book Value of all Vehicles leased under
the Leases as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Specified States Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased
under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Subaru Amount</U>&#8221; means, as of any day, an amount equal to 12.5% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Suzuki Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Tesla Amount</U>&#8221; means, as of any day, an amount equal to 15% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Maximum
Used Vehicle Amount</U>&#8221; means, as of any day, an amount equal to 25% of the aggregate Net Book Value of all Vehicles leased under
the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Monthly
Lease Principal Payment Deficit</U>&#8221; means, on any Distribution Date, an amount equal to the excess, if any, of (1) the excess,
if any, of (a) the aggregate amount of Principal Collections which pursuant to Section 2.2(a), (b), (c) or (d) would have been allocated
to the Series 2022-3 Collection Account if all payments required to have been made under the Leases from and excluding the preceding Distribution
Date to and including such Distribution Date were made in full over (b) the aggregate amount of Principal Collections which pursuant to
Section&nbsp;2.2(a), (b), (c) or (d) have been allocated to the Series 2022-3 Collection Account (without giving effect to any amounts
paid into the Series 2022-3 Accrued Interest Account pursuant to the proviso in Sections 2.2(c)(ii) and/or 2.2(d)(ii)) from and excluding
the preceding Distribution Date to and including the Business Day immediately preceding such Distribution Date over (2) the principal
due and payable with respect to the Class R Notes on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Highest Enhanced Vehicle Percentage</U>&#8221; means, as of any date of determination, a fraction, expressed as a percentage, (a) the
numerator of which is the aggregate Net Book Value of all Vehicles (other than &#8220;medium duty&#8221; and &#8220;heavy duty&#8221;
trucks) leased under the AESOP I Operating Lease that are either not subject to a Manufacturer Program or not eligible for repurchase
under a Manufacturer Program as of such date and (b) the denominator of which is the aggregate Net Book Value of all Vehicles leased under
the AESOP I Operating Lease as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Highest Enhancement Rate</U>&#8221; means, as of any date of determination, the sum of (a) 13.75%, (b) the greater of (x)&nbsp;the highest,
for any calendar month within the preceding 12 calendar months, of an amount (not less than zero) equal to 100% <U>minus</U> the Measurement
Month Average for the immediately preceding Measurement Month and (y) the highest, for any calendar month within the preceding 3 calendar
months, of an amount (not less than zero) equal to 100% <U>minus</U> the Market Value Average as of the Determination Date within such
calendar month (excluding the Market Value Average for any Determination Date which has not yet occurred) and (c) if (x) the Non-Program
Vehicle Amount is less than or equal to the Series 2022-3 Maximum Non-Program Vehicle Amount as of such date of determination, 0.00%,
(y) the Non-Program Vehicle Amount exceeds the Series 2022-3 Maximum Non-Program Vehicle Amount as of such date of determination but is
less than or equal to 87.5% of the aggregate Net Book Value of all Vehicles leased under the Leases as of such date of determination,
0.50% and (z) the Non-Program Vehicle Amount is greater than 87.5% of the aggregate Net Book Value of all Vehicles leased under the Leases
as of such date of determination, 1.00%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Intermediate Enhanced Vehicle Percentage</U>&#8221; means, as of any date of determination, 100% <U>minus</U> the sum of (a) the Series
2022-3 Moody&#8217;s Lowest Enhanced Vehicle Percentage, (b) the Series 2022-3 Moody&#8217;s Highest Enhanced Vehicle Percentage and (c)
the Series 2022-3 Moody&#8217;s Trucks Percentage.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Intermediate Enhancement Rate</U>&#8221; means, as of any date of determination, 9.15%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Lowest Enhanced Vehicle Percentage</U>&#8221; means, as of any date of determination, a fraction, expressed as a percentage, (a) the numerator
of which is the sum, without duplication, of (1) the aggregate Net Book Value of all Program Vehicles (other than &#8220;medium duty&#8221;
and &#8220;heavy duty&#8221; trucks) leased under the AESOP I Operating Lease that are manufactured by Eligible Program Manufacturers
having a long&#45;term corporate family rating of &#8220;Baa3&#8221; or higher from Moody&#8217;s as of such date (or, if any Eligible
Program Manufacturer does not have a long-term corporate family rating from Moody&#8217;s as of such date, a long-term senior unsecured
debt rating of at least &#8220;Ba1&#8221; from Moody&#8217;s as of such date), and (2) so long as any Eligible Non&#45;Program Manufacturer
has a long&#45;term corporate family rating of &#8220;Baa3&#8221; or higher from Moody&#8217;s as of such date (or, if any Eligible Non-Program
Manufacturer does not have a long-term corporate family rating from Moody&#8217;s as of such date, a long-term senior unsecured debt rating
of at least &#8220;Ba1&#8221; from Moody&#8217;s as of such date) and no Manufacturer Event of Default has occurred and is continuing
with respect to such Eligible Non&#45;Program Manufacturer, the aggregate Net Book Value of all Non&#45;Program Vehicles (other than &#8220;medium
duty&#8221; and &#8220;heavy duty&#8221; trucks) leased under the AESOP I Operating Lease manufactured by each such Eligible Non&#45;Program
Manufacturer that are subject to a Manufacturer Program and remain eligible for repurchase thereunder as of such date and (b) the denominator
of which is the aggregate Net Book Value of all Vehicles leased under the AESOP I Operating Lease as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Lowest Enhancement Rate</U>&#8221; means, as of any date of determination, 5.65%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Required Enhancement Amount</U>&#8221; means, as of any date of determination, the product of (i) the Series 2022-3 Moody&#8217;s Required
Enhancement Percentage as of such date and (ii) <FONT STYLE="font-size: 10pt">an amount equal to </FONT>the Series 2022-3 Senior Invested
Amount as of such date <I>minus</I> the Series 2022-3 Allocated Cash Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Required Enhancement Percentage</U>&#8221; means, as of any date of determination, the sum of (i) the product of (A) the Series 2022-3
Moody&#8217;s Lowest Enhancement Rate as of such date and (B) the Series 2022-3 Moody&#8217;s Lowest Enhanced Vehicle Percentage as of
such date, (ii) the product of (A) the Series 2022-3 Moody&#8217;s Intermediate Enhancement Rate as of such date and (B) the Series 2022-3
Moody&#8217;s Intermediate Enhanced Vehicle Percentage as of such date, (iii) the product of (A) the Series 2022-3 Moody&#8217;s Highest
Enhancement Rate as of such date and (B) the Series 2022-3 Moody&#8217;s Highest Enhanced Vehicle Percentage as of such date and (iv)
the product of (A) the Series 2022-3 Moody&#8217;s Trucks Enhancement Rate as of such date and (B) the Series 2022-3 Moody&#8217;s Trucks
Percentage as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Trucks Percentage</U>&#8221; means, as of any date of determination, a fraction, expressed as a percentage, (a) the numerator of which
is the aggregate Net Book Value of all Vehicles leased under the AESOP I Operating Lease that are that are &#8220;medium duty&#8221; or
&#8220;heavy duty&#8221; trucks as of such date and (b) the denominator of which is the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">aggregate Net Book Value of all Vehicles leased
under the AESOP I Operating Lease as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Moody&#8217;s
Trucks Enhancement Rate</U>&#8221; means, as of any date of determination, 35.65%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Note
Owner</U>&#8221; means each beneficial owner of a Series 2022-3 Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Noteholder</U>&#8221;
means any Class A Noteholder, any Class B Noteholder, any Class C Noteholder, any Class D Noteholder, any Class R Noteholder or, if the
Class E Notes have been issued, any Class E Noteholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Notes</U>&#8221;
means, collectively, the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes, the Class E Notes (if issued), and the
Class R Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Overcollateralization
Amount</U>&#8221; means the excess, if any, of (x) the Series 2022-3 AESOP I Operating Lease Loan Agreement Borrowing Base as of such
date over (y) the Series 2022-3 Senior Invested Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Past
Due Rent Payment</U>&#8221; is defined in Section 2.2(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Percentage</U>&#8221;
means, as of any date of determination, a fraction, expressed as a percentage, the numerator of which is the Series 2022-3 Invested Amount
as of such date and the denominator of which is the Aggregate Invested Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Principal
Allocation</U>&#8221; is defined in Section 2.2(a)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Rapid
Amortization Period</U>&#8221; means the period beginning at the close of business on the Business Day immediately preceding the day on
which an Amortization Event is deemed to have occurred with respect to the Series 2022-3 Notes and ending upon the earliest to occur of
(i) the date on which the Series 2022-3 Notes are fully paid, (ii) the Series 2022-3 Final Distribution Date and (iii) the termination
of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Reimbursement
Agreement</U>&#8221; means any and each agreement providing for the reimbursement of a Multi-Series Letter of Credit Provider for draws
under its Multi-Series Letter of Credit as the same may be amended, supplemented, restated or otherwise modified from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Repurchase
Amount</U>&#8221; is defined in Section 5.1(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Required
AESOP I Operating Lease Vehicle Amount</U>&#8221; means, as of any date of determination, the sum of the Series 2022-3 Invested Amount
and the Series 2022-3 Required Overcollateralization Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Required
Enhancement Amount</U>&#8221; means, as of any date of determination, the sum (without duplication) of (i) the Series 2022-3 Moody&#8217;s
Required Enhancement Amount as of such date, (ii)&nbsp;the Series 2022-3 AESOP I Operating Lease Vehicle</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Percentage as of the immediately preceding
Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Mitsubishi and leased under the Leases
as of such date over the Series 2022-3 Maximum Mitsubishi Amount as of such date, (iii) the Series 2022-3 AESOP I Operating Lease Vehicle
Percentage as of the immediately preceding Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured
by Isuzu and leased under the Leases as of such date over the Series 2022-3 Maximum Isuzu Amount as of such date, (iv) the Series 2022-3
AESOP I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of the aggregate Net Book
Value of all Vehicles manufactured by Subaru and leased under the Leases as of such date over the Series 2022-3 Maximum Subaru Amount
as of such date, (v) the Series 2022-3 AESOP I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the
excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Hyundai and leased under the Leases as of such date over
the Series 2022-3 Maximum Hyundai Amount as of such date, (vi) the Series 2022-3 AESOP I Operating Lease Vehicle Percentage as of the
immediately preceding Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Kia and leased
under the Leases as of such date over the Series 2022-3 Maximum Kia Amount as of such date, (vii) the Series 2022-3 AESOP I Operating
Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles
manufactured by Suzuki and leased under the Leases as of such date over the Series 2022-3 Maximum Suzuki Amount as of such date, (viii)
the Series 2022-3 AESOP I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of the
aggregate Net Book Value of all Vehicles manufactured by Tesla and leased under the Leases as of such date over the Series 2022-3 Maximum
Tesla Amount as of such date, (ix) the Series 2022-3 AESOP I Operating Lease Vehicle Percentage as of the immediately preceding Business
Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Land Rover and leased under the Leases as of
such date over the Series 2022-3 Maximum Land Rover Amount as of such date, (x) the Series 2022-3 AESOP I Operating Lease Vehicle Percentage
as of the immediately preceding Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Jaguar
and leased under the Leases as of such date over the Series 2022-3 Maximum Jaguar Amount as of such date, (xi) the Series 2022-3 AESOP
I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of (x) Springing Amendment Condition
(Non-Perfected Lien) is not satisfied, the Specified States Amount as of such date over the Series 2022-3 Maximum Specified States Amount
or (y) if the Springing Amendment Condition (Non-Perfected Lien) is satisfied, the Net Book Value of all Vehicles leased under the Operating
Leases with respect to which the lien under the Indenture is not perfected through a notation of such lien on the Certificate of Title
or otherwise over the Series 2022-3 Maximum Non-Perfected Vehicle Amount (as applicable) as of such date, (xii) the Series 2022-3 AESOP
I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of the Non-Eligible Manufacturer
Amount as of such date over the Series 2022-3 Maximum Non-Eligible Manufacturer Amount as of such date, (xiii) the Series 2022-3 AESOP
I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of the Net Book Value of all
Vehicles leased under the Leases as of such date that were used vehicles at the time of acquisition over the Series 2022-3 Maximum Used
Vehicle Amount as of such date and (xiv) if the Springing Amendment Condition (Trucks) has been satisfied, the Series 2022-3 AESOP I Operating
Lease Vehicle Percentage as of the immediately</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">preceding Business Day of the excess, if any,
of the Net Book Value of all Vehicles leased under the Leases as of such date that were &#8220;medium duty&#8221; or &#8220;heavy duty&#8221;
trucks at the time of acquisition over the Series 2022-3 Maximum Medium/Heavy Duty Truck Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Required
Liquidity Amount</U>&#8221; means, as of any date of determination, an amount equal to the product of 3.50% and the Series 2022-3 Senior
Invested Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Required
Overcollateralization Amount</U>&#8221; means, as of any date of determination, the excess, if any, of the Series 2022-3 Required Enhancement
Amount over the sum of (i) the Series 2022-3 Allocated Multi-Series Letter of Credit Amount as of such date, (ii) the Series 2022-3 Available
Reserve Account Amount on such date and (iii) the amount of cash and Permitted Investments on deposit in the Series 2022-3 Collection
Account (not including amounts allocable to the Series 2022-3 Accrued Interest Account) and the Series 2022-3 Excess Collection Account
on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Required
Reserve Account Amount</U>&#8221; means, for any date of determination, an amount equal to the greater of (a)&nbsp;the excess, if any,
of the Series 2022-3 Required Liquidity Amount as of such date over the Series 2022-3 Allocated Multi-Series Letter of Credit Liquidity
Amount as of such date and (b) the excess, if any, of the Series 2022-3 Required Enhancement Amount as of such date over the Series 2022-3
Enhancement Amount (excluding therefrom the Series 2022-3 Available Reserve Account Amount and calculated after giving effect to any payments
of principal to be made on the Series 2022-3 Notes) as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Reserve
Account</U>&#8221; is defined in Section 2.7(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Reserve
Account Collateral</U>&#8221; is defined in Section 2.7(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Reserve
Account Surplus</U>&#8221; means, with respect to any Distribution Date, the excess, if any, of the Series 2022-3 Available Reserve Account
Amount over the Series 2022-3 Required Reserve Account Amount on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Revolving
Period</U>&#8221; means the period from and including the Series 2022-3 Closing Date to the earlier of (i)&nbsp;the commencement of the
Series 2022-3 Controlled Amortization Period and (ii) the commencement of the Series 2022-3 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Senior
Invested Amount</U>&#8221; means, on any date, the sum of the Class A Invested Amount on such date, the Class B Invested Amount on such
date, the Class C Invested Amount on such date and the Class D Invested Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Senior
Monthly Interest</U>&#8221; means, with respect to any Distribution Date, the sum of the Class A Monthly Interest, the Class B Monthly
Interest, the Class C Monthly Interest and the Class D Monthly Interest, in each case with respect to the Series 2022-3 Interest Period
ended on the day preceding such Distribution Date.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Senior
Notes</U>&#8221; means, collectively, the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Shortfall</U>&#8221;
means, on any Distribution Date, the sum of the Class A Shortfall, the Class B Shortfall, the Class C Shortfall and the Class D Shortfall
on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Termination
Date</U>&#8221; means the February 2027 Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Trustee&#8217;s
Fees</U>&#8221; means, for any Distribution Date during the Series 2022-3 Rapid Amortization Period on which there exists a Series 2022-3
Lease Interest Payment Deficit, a portion of the fees payable to the Trustee in an amount equal to the product of (i) the Series 2022-3
Percentage as of the beginning of the Series 2022-3 Interest Period ending on the day preceding such Distribution Date and (ii) the fees
owing to the Trustee under the Base Indenture; <U>provided</U>, <U>however</U>, that the Series 2022-3 Trustee&#8217;s Fees in the aggregate
for all Distribution Dates shall not exceed 1.1% of the Series 2022-3 Required AESOP I Operating Lease Vehicle Amount as of the last day
of the Series 2022-3 Revolving Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Notes</U>&#8221;
means the Series of Notes designated as the Series 2022-4 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>SOFR</U>&#8221; means
a rate per annum equal to the secured overnight financing rate as administered by the SOFR Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>SOFR Administrator</U>&#8221;
means the NYFRB (or a successor administrator of the secured overnight financing rate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>SOFR Administrator&#8217;s
Website</U>&#8221; means the NYFRB&#8217;s Website, or any successor source for the secured overnight financing rate identified as such
by the SOFR Administrator from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Springing Amendment
Condition (Non-Perfected Lien)</U>&#8221; means a condition that will be satisfied if ABRCF confirms to the Trustee in writing that is
has implemented, in accordance with the terms of the Related Documents, the amendments set forth in <U>Exhibits J</U>, <U>K</U>, <U>L</U>,
<U>M</U>, <U>N</U>, <U>O</U> and <U>R</U> that ABRCF has determined are required to remove the limitations in the Related Documents related
to Vehicles titled in Ohio, Oklahoma and Nebraska (the liens on which are not perfected) and replace such references with limitations
that would allow a limited amount of Vehicles titled anywhere in the United States to be subject to liens that are not perfected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Springing Amendment
Condition (Trucks)</U>&#8221; means a condition that will be satisfied if ABRCF confirms to the Trustee in writing that is has implemented,
in accordance with the terms of the Related Documents, the amendments set forth in <U>Exhibits J</U>, <U>K</U>, <U>L</U>, <U>M</U>, <U>N</U>,
<U>O</U> and <U>R</U> that ABRCF has determined are required to allow for &#8220;medium duty&#8221; and &#8220;heavy duty&#8221; trucks
to be considered an &#8220;Eligible Vehicle&#8221; under the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Supplement</U>&#8221;
is defined in the preamble hereto.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class A Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class B Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class C Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class D Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class R Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Series 2022-3 Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Termination Date
Disbursement</U>&#8221; means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Date Demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Termination Disbursement</U>&#8221;
means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Transferee</U>&#8221;
has the meaning set forth in Section 5.23(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Transferor</U>&#8221;
has the meaning set forth in Section 5.23(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Trustee</U>&#8221;
is defined in the recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Unpaid Demand Note
Disbursement</U>&#8221; means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Unpaid Demand Note Demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>U.S. Government Securities
Business Day</U>&#8221; means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial
Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in
United States government securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>U.S. Risk Retention
Rules</U>&#8221; means the federal interagency credit risk retention rules, codified at 17 C.F.R. Part 246.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>U.S. Treasury Rate</U>&#8221;
means, with respect to any Remaining Distribution Amount, a rate determined one Business Day prior to the Optional Repurchase Distribution
Date that is equal to the U.S. Treasury rate on such date (determined by reference to Bloomberg Financial Markets Commodities News) with
a maturity equal to the period from such Optional Repurchase Distribution Date to the Applicable Distribution Date with respect to such
Remaining Distribution Amount (or, if such maturity is unavailable, such rate shall be determined by linear interpolation using the U.S.
Treasury rates with the two closest maturities to such period).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
amounts calculated by reference to the Series 2022-3 Invested Amount (or any component thereof) on any date shall, unless otherwise stated,
be calculated after giving effect to any payment of principal made to the applicable Class A Noteholders, applicable Class B Noteholders,
applicable Class C Noteholders, applicable Class D Noteholders and applicable Class R Noteholders on such date.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"><B>ARTICLE II<BR>
<BR>
SERIES 2022-3 ALLOCATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">With respect to the Series
2022-3 Notes, the following shall apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Establishment of Series 2022-3 Collection Account, Series 2022-3 Excess Collection Account and Series 2022-3 Accrued Interest
Account</U>.</P>

<P STYLE="margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All Collections allocable to the Series 2022-3 Notes shall
be allocated to the Collection Account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee will create three administrative subaccounts within the Collection Account for the benefit of the Series 2022-3 Noteholders:
the Series 2022-3 Collection Account (such sub&#45;account, the &#8220;<U>Series 2022-3 Collection Account</U>&#8221;), the Series 2022-3
Excess Collection Account (such sub&#45;account, the &#8220;<U>Series 2022-3 Excess Collection Account</U>&#8221;) and the Series 2022-3
Accrued Interest Account (such sub&#45;account, the &#8220;<U>Series 2022-3 Accrued Interest Account</U>&#8221;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations with Respect to the Series 2022-3 Notes</U>. The net proceeds from the initial sale of the Class A Notes, Class
B Notes, Class C Notes, Class D Notes and Class R Notes will be deposited into the Collection Account on the Series 2022-3 Closing Date
and the net proceeds from any issuance of Class E Notes and Additional Class R Notes shall be deposited into the Collection Account on
the Additional Notes Closing Date. On each Business Day on which Collections are deposited into the Collection Account (each such date,
a &#8220;<U>Series 2022-3 Deposit Date</U>&#8221;), the Administrator will direct the Trustee in writing pursuant to the Administration
Agreement to allocate all amounts deposited into the Collection Account in accordance with the provisions of this Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations of Collections During the Series 2022-3 Revolving Period</U>. During the Series 2022-3 Revolving Period, the Administrator
will direct the Trustee in writing pursuant to the Administration Agreement to allocate, prior to 11:00&nbsp;a.m. (New York City time)
on each Series 2022-3 Deposit Date, all amounts deposited into the Collection Account as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-3 Collection Account an amount equal to the Series 2022-3 Invested Percentage (as of such day) of the
aggregate amount of Interest Collections on such day. All such amounts allocated to the Series 2022-3 Collection Account shall be further
allocated to the Series 2022-3 Accrued Interest Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-3 Excess Collection Account an amount equal to the Series 2022-3 Invested Percentage (as of such day)
of the aggregate amount of Principal Collections on such day (for any such day, the &#8220;<U>Series 2022-3 Principal Allocation</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations of Collections During the Series 2022-3 Controlled Amortization Period</U>. With respect to the Series 2022-3 Controlled
Amortization Period, the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Administrator will direct the Trustee in writing
pursuant to the Administration Agreement to allocate, prior to 11:00 a.m. (New York City time) on any Series 2022-3 Deposit Date, all
amounts deposited into the Collection Account as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-3 Collection Account an amount determined as set forth in Section 2.2(a)(i) above for such day, which
amount shall be further allocated to the Series 2022-3 Accrued Interest Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>allocate
to the Series 2022-3 Collection Account an amount equal to the Series 2022-3 Principal Allocation for such day, which amount shall be
used to make principal payments in respect of the Series 2022-3 Notes in accordance with Section 2.5, (A) first, in respect of the Class
A Notes in an amount equal to the Class A Controlled Distribution Amount, (B) second, in respect of the Class B Notes in an amount equal
to the Class B Controlled Distribution Amount, (C) third, in respect of the Class C Notes in an amount equal to the Class C Controlled
Distribution Amount, (D)&nbsp;fourth, in respect of the Class D Notes in an amount equal to the Class D Controlled Distribution Amount
and (E)&nbsp;fifth, in respect of the Class R Notes in an amount equal to the Class R Controlled Amortization Amount, in each case with
respect to the Related Month; <U>provided</U>, <U>however</U>, that if the Monthly Total Principal Allocation exceeds the sum of the
Class A Controlled Distribution Amount, the Class B Controlled Distribution Amount, the Class C Controlled Distribution Amount, the Class
D Controlled Distribution Amount and the Class R Controlled Amortization Amount, in each case with respect to the Related Month, then
the amount of such excess shall be allocated to the Series 2022-3 Excess Collection Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations of Collections During the Series 2022-3 Rapid Amortization Period</U>. With respect to the Series 2022-3 Rapid Amortization
Period, other than after the occurrence of an Event of Bankruptcy with respect to ABCR, any other Lessee or any Permitted Sublessee, the
Administrator will direct the Trustee in writing pursuant to the Administration Agreement to allocate, prior to 11:00 a.m. (New&nbsp;York
City time) on any Series 2022-3 Deposit Date, all amounts deposited into the Collection Account as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-3 Collection Account an amount determined as set forth in Section 2.2(a)(i) above for such day, which
amount shall be further allocated to the Series 2022-3 Accrued Interest Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>allocate
to the Series 2022-3 Collection Account an amount equal to the Series 2022-3 Principal Allocation for such day, which amount shall be
used in accordance with Section 2.5 to make principal payments in respect of the Class A Notes until the Class A Notes have been paid
in full, and after the Class A Notes have been paid in full shall be used to make principal payments in respect of the Class B Notes
until the Class B Notes have been paid in full, and after the Class A Notes and the Class B Notes have been paid in full shall be used
to make principal payments in respect of the Class C Notes until the Class C Notes have been paid in full, and after the Class A Notes,
the Class B Notes and the Class C Notes have been paid in full shall be used to make principal payments in respect of the Class D Notes
until the Class D Notes have been paid in full, and after the Class A Notes, the Class B Notes, the Class C Notes and the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Class D Notes have been paid in full
(including interest thereon) shall be used to make principal payments in respect of the Class R Notes until the Class R Notes have been
paid in full; <U>provided</U>, <U>however</U>, that if on any Determination Date (A) the Administrator determines that the amount anticipated
to be available from Interest Collections allocable to the Series 2022-3 Notes and other amounts available pursuant to Section 2.3 to
pay the sum of (x) the Series 2022-3 Senior Monthly Interest for the next succeeding Distribution Date and (y) any unpaid Series 2022-3
Shortfall on such Distribution Date (together with interest on such Series 2022-3 Shortfall) will be less than the sum of (I) the Series
2022-3 Senior Monthly Interest for such Distribution Date and (II) such Series 2022-3 Shortfall (together with interest thereon) and (B)
the Series 2022-3 Enhancement Amount is greater than zero, then the Administrator shall direct the Trustee in writing to reallocate a
portion of the Principal Collections allocated to the Series 2022-3 Notes during the Related Month equal to the lesser of such insufficiency
and the Series 2022-3 Enhancement Amount to the Series 2022-3 Accrued Interest Account to be treated as Interest Collections on such Distribution
Date; <U>provided further</U>, <U>however</U>, that if on any Determination Date the Administrator determines that, after giving effect
the preceding proviso, the amount anticipated to be available from Interest Collections allocable to the Series 2022-3 Notes and other
amounts available pursuant to <U>Section 2.3</U> to pay the sum of (x) the Series 2022-3 Senior Monthly Interest for the next succeeding
Distribution Date and (y) any unpaid Series 2022-3 Shortfall on such Distribution Date (together with interest on such Series 2022-3 Shortfall)
will be less than the sum of (I) the Series 2022-3 Senior Monthly Interest for such Distribution Date and (II) such Series 2022-3 Shortfall
(together with interest thereon), then the Administrator shall direct the Trustee in writing to reallocate a portion of the Principal
Collections allocated to the Series 2022-3 Notes during the Related Month equal to the lesser of (1) the amount of such Principal Collections
that is anticipated to remain after the payment of the Series 2022-3 Senior Invested Amount in full, and (2) any such interest due and
owing in respect of the Class A Notes, the Class B Notes, the Class C Notes or the Class D Notes to the 2022-3 Accrued Interest Account
to be treated as Interest Collections on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations of Collections after the Occurrence of an Event of Bankruptcy</U>. After the occurrence of an Event of Bankruptcy
with respect to ABCR, any other Lessee or any Permitted Sublessee, the Administrator will direct the Trustee in writing pursuant to the
Administration Agreement to allocate, prior to 11:00 a.m. (New&nbsp;York City time) on any Series 2022-3 Deposit Date, all amounts attributable
to the AESOP I Operating Lease Loan Agreement deposited into the Collection Account as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-3 Collection Account an amount equal to the Series 2022-3 AESOP I Operating Lease Vehicle Percentage
as of the date of the occurrence of such Event of Bankruptcy of the aggregate amount of Interest Collections made under the AESOP I Operating
Lease Loan Agreement for such day. All such amounts allocated to the Series 2022-3 Collection Account shall be further allocated to the
Series 2022-3 Accrued Interest Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-3 Collection Account an amount equal to the Series 2022-3 AESOP I Operating Lease Vehicle Percentage
as of the date of the occurrence of such Event of Bankruptcy of the aggregate amount of Principal Collections</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">made under the AESOP I Operating Lease
Loan Agreement, which amount shall be used in accordance with <U>Section 2.5</U>, to make principal payments in respect of the Class A
Notes until the Class A Notes have been paid in full, and after the Class A Notes have been paid in full shall be used to make principal
payments in respect of the Class B Notes until the Class B Notes have been paid in full, and after the Class A Notes and the Class B Notes
have been paid in full shall be used to make principal payments in respect of the Class C Notes until the Class C Notes have been paid
in full, and after the Class A Notes, the Class B Notes and the Class C Notes have been paid in full shall be used to make principal payments
in respect of the Class D Notes until the Class D Notes have been paid in full, and after the Class A Notes, the Class B Notes, the Class
C Notes and the Class D Notes have been paid in full (including interest thereon), shall be used to make principal payments in respect
of the Class R Notes until the Class R Notes have been paid in full; <U>provided</U>, <U>however</U>, that if on any Determination Date
(A) the Administrator determines that the amount anticipated to be available from Interest Collections allocable to the Series 2022-3
Notes and other amounts available pursuant to <U>Section 2.3</U> to pay the sum of (x) the Series 2022-3 Senior Monthly Interest for the
next succeeding Distribution Date and (y) any unpaid Series 2022-3 Shortfall on such Distribution Date (together with interest on such
Series 2022-3 Shortfall) will be less than the sum of (I) the Series 2022-3 Senior Monthly Interest for such Distribution Date and (II)
such Series 2022-3 Shortfall (together with interest thereon) and (B) the Series 2022-3 Enhancement Amount is greater than zero, then
the Administrator shall direct the Trustee in writing to reallocate a portion of the Principal Collections allocated to the Series 2022-3
Notes during the Related Month equal to the lesser of such insufficiency and the Series 2022-3 Enhancement Amount to the Series 2022-3
Accrued Interest Account to be treated as Interest Collections on such Distribution Date; <U>provided further</U>, <U>however</U>, that
if on any Determination Date the Administrator determines that, after giving effect the preceding proviso, the amount anticipated to be
available from Interest Collections allocable to the Series 2022-3 Notes and other amounts available pursuant to <U>Section 2.3</U> to
pay the sum of (x) the Series 2022-3 Senior Monthly Interest for the next succeeding Distribution Date and (y) any unpaid Series 2022-3
Shortfall on such Distribution (together with interest in such Series 2022-3 Shortfall), will be less than the sum of (I) the Series 2022-3
Senior Monthly Interest for such Distribution Date and (II) such Series 2022-3 Shortfall (together with interest thereon), then the Administrator
shall direct the Trustee in writing to reallocate any portion of the Principal Collections allocated to the Series 2022-3 Notes during
the Related Month equal to the lesser of (1) the amount of such Principal Collections that is anticipated to remain after the payment
of the Series 2022-3 Senior Invested Amount in full, and (2) any such interest due and owing in respect of the Class A Notes, the Class
B Notes, the Class C Notes or the Class D Notes to the 2022-3 Accrued Interest Account to be treated as Interest Collections on such Distribution
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-3 Excess Collection Account</U>. Amounts allocated to the Series 2022-3 Excess Collection Account on any Series
2022-3 Deposit Date will be (w) first, deposited in the Series 2022-3 Reserve Account in an amount up to the excess, if any, of the Series
2022-3 Required Reserve Account Amount for such date over the Series 2022-3 Available Reserve Account Amount for such date, (x) second,
used to pay the principal amount of other Series of Notes that are then in amortization, (y) third, released to AESOP Leasing in an amount
equal to the product of (A) the Loan Agreement&#8217;s Share with respect to the AESOP I Operating</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Lease Loan Agreement as of such date and (B)
100% <U>minus</U> the Loan Payment Allocation Percentage with respect to the AESOP I Operating Lease Loan Agreement as of such date and
(C) the amount of any remaining funds and (z) fourth, paid to ABRCF for any use permitted by the Related Documents including to make Loans
under the Loan Agreements to the extent the Borrowers have requested Loans thereunder and Eligible Vehicles are available for financing
thereunder; <U>provided</U>, <U>however</U>, that in the case of clauses (x), (y) and (z), that no Amortization Event, Series 2022-3 Enhancement
Deficiency or AESOP I Operating Lease Vehicle Deficiency would result therefrom or exist immediately thereafter. Upon the occurrence of
an Amortization Event and once a Trust Officer has actual knowledge of the Amortization Event, funds on deposit in the Series 2022-3 Excess
Collection Account will be withdrawn by the Trustee, deposited in the Series 2022-3 Collection Account and allocated as Principal Collections
to reduce the Series 2022-3 Invested Amount on the immediately succeeding Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations From Other Series</U>. Amounts allocated to other Series of Notes that have been reallocated by ABRCF to the Series
2022-3 Notes (i) during the Series 2022-3 Revolving Period shall be allocated to the Series 2022-3 Excess Collection Account and applied
in accordance with Section 2.2(e) and (ii) during the Series 2022-3 Controlled Amortization Period or the Series 2022-3 Rapid Amortization
Period shall be allocated to the Series 2022-3 Collection Account and applied in accordance with Section&nbsp;2.2(b) or 2.2(c), as applicable,
to make principal payments in respect of the Series 2022-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Past Due Rent Payments</U>. Notwithstanding the foregoing, if in the case of Section 2.2(a) or (b), after the occurrence of
a Series 2022-3 Lease Payment Deficit, the Lessees shall make payments of Monthly Base Rent or other amounts payable by the Lessees under
the Leases on or prior to the fifth Business Day after the occurrence of such Series 2022-3 Lease Payment Deficit (a &#8220;<U>Past Due
Rent Payment</U>&#8221;), the Administrator shall direct the Trustee in writing pursuant to the Administration Agreement to allocate to
the Series 2022-3 Collection Account an amount equal to the Series 2022-3 Invested Percentage as of the date of the occurrence of such
Series 2022-3 Lease Payment Deficit of the Collections attributable to such Past Due Rent Payment (the &#8220;<U>Series 2022-3 Past Due
Rent Payment</U>&#8221;). The Administrator shall instruct the Trustee in writing pursuant to the Administration Agreement to withdraw
from the Series 2022-3 Collection Account and apply the Series 2022-3 Past Due Rent Payment in the following order:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the occurrence of such Series 2022-3 Lease Payment Deficit resulted in one or more Lease Deficit Disbursements being made under
the Multi-Series Letters of Credit, pay to each Multi-Series Letter of Credit Provider who made such a Lease Deficit Disbursement for
application in accordance with the provisions of the applicable Series 2022-3 Reimbursement Agreement an amount equal to the lesser of
(x)&nbsp;the unreimbursed amount of such Multi-Series Letter of Credit Provider&#8217;s Lease Deficit Disbursement and (y) such Multi-Series
Letter of Credit Provider&#8217;s Pro Rata Share of the Series 2022-3 Past Due Rent Payment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the occurrence of such Series 2022-3 Lease Payment Deficit resulted in a withdrawal being made from the Series 2022-3 Cash Collateral
Account, deposit in the Series 2022-3 Cash Collateral Account an amount equal to the lesser of (x) the amount of the Series 2022-3 Past
Due Rent Payment remaining after any payment</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">pursuant to clause (i) above and (y)
the amount withdrawn from the Series 2022-3 Cash Collateral Account on account of such Series 2022-3 Lease Payment Deficit;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the occurrence of such Series 2022-3 Lease Payment Deficit resulted in a withdrawal being made from the Series 2022-3 Reserve
Account pursuant to Section 2.3(d), deposit in the Series 2022-3 Reserve Account an amount equal to the lesser of (x) the amount of the
Series 2022-3 Past Due Rent Payment remaining after any payments pursuant to clauses (i) and (ii) above and (y) the excess, if any, of
the Series 2022-3 Required Reserve Account Amount over the Series 2022-3 Available Reserve Account Amount on such day;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-3 Accrued Interest Account the amount, if any, by which the Series 2022-3 Lease Interest Payment Deficit,
if any, relating to such Series 2022-3 Lease Payment Deficit exceeds the amount of the Series 2022-3 Past Due Rent Payment applied pursuant
to clauses (i), (ii) and (iii) above; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>treat the remaining amount of the Series 2022-3 Past Due Rent Payment as Principal Collections allocated to the Series 2022-3 Notes
in accordance with Section 2.2(a)(ii) or 2.2(b)(ii), as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Payments
to Noteholders</U>. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent in writing pursuant
to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance with such
instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section&nbsp;2.3(a) below in
respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the holders
of the Series 2022-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Note
Interest with Respect to the Series 2022-3 Notes</U>. On each Determination Date, the Administrator shall instruct the Trustee and the
Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to Section 2.4 from
the Series 2022-3 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections allocable to
the Series 2022-3 Notes processed from but not including the preceding Distribution Date through the succeeding Distribution Date in
respect of (i) an amount equal to the Class A Monthly Interest for the Series 2022-3 Interest Period ending on the day preceding the
related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date (together
with any accrued interest on such Class A Shortfall), (iii) an amount equal to the Class B Monthly Interest for the Series 2022-3 Interest
Period ending on the day preceding the related Distribution Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall
as of the preceding Distribution Date (together with any accrued interest on such Class B Shortfall), (v) an amount equal to the Class
C Monthly Interest for the Series 2022-3 Interest Period ending on the day preceding the related Distribution Date, (vi) an amount equal
to the amount of any unpaid Class C Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class
C Shortfall), (vii) an amount equal to the Class D Monthly Interest for the Series 2022-3 Interest Period ending on the day preceding
the related Distribution Date, (viii) an amount equal to the amount of any unpaid Class D Shortfall as of the preceding Distribution
Date (together</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">with any accrued interest on such Class D Shortfall),
(ix) an amount equal to the Class R Monthly Interest for the Series 2022-3 Interest Period ending on the day preceding the related Distribution
Date and (x) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued
interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first
sentence of this Section 2.3(a) from the Series 2022-3 Accrued Interest Account and deposit such amounts in the Series 2022-3 Distribution
Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class D Notes for so long as ABRCF
owns 100% of the Class D Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Lease Payment Deficit Notice</U>. On or before 3:00 p.m. (New York City time) on the Business Day immediately preceding each
Distribution Date, the Administrator shall notify the Trustee of the amount of any Series 2022-3 Lease Payment Deficit, such notification
to be in the form of <U>Exhibit H</U> (each a &#8220;<U>Lease Payment Deficit Notice</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Draws on Multi-Series Letters of Credit For Series 2022-3 Lease Interest Payment Deficits</U>. If the Administrator determines
on the Business Day immediately preceding any Distribution Date that on such Distribution Date there will exist a Series 2022-3 Lease
Interest Payment Deficit, the Administrator shall, on or prior to 3:00 p.m. (New York City time) on such Business Day, instruct the Trustee
in writing to draw on the Multi-Series Letters of Credit, if any, and, the Trustee shall, by 5:00 p.m. (New York City time) on such Business
Day draw an amount as set forth in such notice equal to the least of (i) such Series 2022-3 Lease Interest Payment Deficit, (ii) the excess,
if any, of the sum of (A) the amounts described in clauses (i) through (vi) of Section 2.3(a) above for such Distribution Date and (B)
during the Series 2022-3 Rapid Amortization Period, the Series 2022-3 Trustee&#8217;s Fees for such Distribution Date, over the amounts
available from the Series 2022-3 Accrued Interest Account and (iii) the Series 2022-3 Allocated Multi-Series Letter of Credit Liquidity
Amount on the Multi-Series Letters of Credit by presenting to each Multi-Series Letter of Credit Provider a draft accompanied by a Certificate
of Lease Deficit Demand and shall cause the Lease Deficit Disbursements to be deposited in the Series 2022-3 Distribution Account on such
date; <U>provided</U>, <U>however</U>, that if the Series 2022-3 Cash Collateral Account has been established and funded, the Trustee
shall withdraw from the Series 2022-3 Cash Collateral Account and deposit in the Series 2022-3 Distribution Account an amount equal to
the lesser of (x) the Series 2022-3 Cash Collateral Percentage on such date of the least of the amounts described in clauses (i), (ii)
and (iii) above and (y) the Series 2022-3 Available Cash Collateral Account Amount on such date and draw an amount equal to the remainder
of such amount on the Multi-Series Letters of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Withdrawals from Series 2022-3 Reserve Account</U>. If the Administrator determines on any Distribution Date that the amounts
available from the Series 2022-3 Accrued Interest Account <U>plus</U> the amount, if any, to be drawn under the Multi-Series Letters of
Credit and/or withdrawn from the Series 2022-3 Cash Collateral Account pursuant to Section 2.3(c) are insufficient to pay the sum of (A)
the amounts described in clauses (i) through (vi) of Section&nbsp;2.3(a) above on such Distribution Date and (B) during the Series 2022-3
Rapid Amortization Period, the Series 2022-3 Trustee&#8217;s Fees for such Distribution Date, the Administrator shall instruct the Trustee
in writing to withdraw from the Series 2022-3 Reserve Account and deposit in the Series 2022-3 Distribution Account on such Distribution
Date an amount equal to the lesser of the Series 2022-3 Available Reserve Account Amount and such</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">insufficiency. The Trustee shall withdraw such
amount from the Series 2022-3 Reserve Account and deposit such amount in the Series 2022-3 Distribution Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[RESERVED].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Balance</U>. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee
and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section
2.4), if any, of the amounts available from the Series 2022-3 Accrued Interest Account and the Series 2022-3 Distribution Account, <U>plus</U>
the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2022-3 Cash Collateral Account pursuant
to Section 2.3(c) <U>plus</U> the amount, if any, withdrawn from the Series 2022-3 Reserve Account pursuant to Section 2.3(d) as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on each Distribution Date during the Series 2022-3 Revolving Period or the Series 2022-3 Controlled Amortization Period, (1) first,
to the Administrator, an amount equal to the Series 2022-3 Percentage as of the beginning of the Series 2022-3 Interest Period ending
on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause
(iii) of the definition thereof) for such Series 2022-3 Interest Period, (2) second, to the Trustee, an amount equal to the Series 2022-3
Percentage as of the beginning of such Series 2022-3 Interest Period of the fees owing to the Trustee under the Base Indenture for such
Series 2022-3 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to
whom such amounts are owed, an amount equal to the Series 2022-3 Percentage as of the beginning of such Series 2022-3 Interest Period
of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-3 Interest Period and (4) fourth, the balance,
if any, shall be withdrawn by the Paying Agent from the Series 2022-3 Collection Account and deposited in the Series 2022-3 Excess Collection
Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on each Distribution Date during the Series 2022-3 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the
Series 2022-3 Percentage as of the beginning of such Series 2022-3 Interest Period ending on the day preceding such Distribution Date
of the fees owing to the Trustee under the Base Indenture for such Series 2022-3 Interest Period, (2) second, to the Administrator, an
amount equal to the Series 2022-3 Percentage as of the beginning of such Series 2022-3 Interest Period of the portion of the Monthly Administration
Fee (as specified in clause (iii) of the definition thereof) payable by ABRCF for such Series 2022-3 Interest Period, (3) third, to pay
any Carrying Charges (other than Carrying Charges provided for above) to the Persons to whom such amounts are owed, an amount equal to
the Series 2022-3 Percentage as of the beginning of such Series 2022-3 Interest Period of such Carrying Charges (other than Carrying Charges
provided for above) for such Series 2022-3 Interest Period and (4) fourth, so long as the Series 2022-3 Invested Amount is greater than
the Monthly Total Principal Allocations for the Related Month, an amount equal to the excess of the Series 2022-3 Invested Amount over
the Monthly Total Principal Allocations for the Related Month shall be treated as Principal Collections.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <U>Shortfalls</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> If the amounts described in Section 2.3 are insufficient to pay the Class A Monthly Interest on any Distribution Date, payments
of interest to the Class A Noteholders will be reduced on a <U>pro rata</U> basis by the amount of such deficiency. The aggregate amount,
if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to
all prior Distribution Dates, shall be referred to as the &#8220;<U>Class A Shortfall</U>&#8221;. Interest shall accrue on the Class A
Shortfall at the Class A Note Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) and (ii) of Section 2.3(a)
and the Class B Monthly Interest on any Distribution Date, payments of interest to the Class B Noteholders will be reduced on a <U>pro
rata</U> basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which deficiency
on any Distribution Date shall not exceed the Class B Monthly Interest for the Series 2022-3 Interest Period ended on the day preceding
such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates,
shall be referred to as the &#8220;<U>Class B Shortfall</U>&#8221;. Interest shall accrue on the Class B Shortfall at the Class B Note
Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) through (iv) of Section 2.3(a)
and the Class C Monthly Interest on any Distribution Date, payments of interest to the Class C Noteholders will be reduced on a <U>pro
rata</U> basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which deficiency
on any Distribution Date shall not exceed the Class C Monthly Interest for the Series 2022-3 Interest Period ended on the day preceding
such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates,
shall be referred to as the &#8220;<U>Class C Shortfall</U>&#8221;. Interest shall accrue on the Class C Shortfall at the Class C Note
Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) through (vi) of Section 2.3(a)
and the Class D Monthly Interest on any Distribution Date, payments of interest to the Class D Noteholders will be reduced on a <U>pro
rata</U> basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which deficiency
on any Distribution Date shall not exceed the Class D Monthly Interest for the Series 2022-3 Interest Period ended on the day preceding
such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates,
shall be referred to as the &#8220;<U>Class D Shortfall</U>&#8221;. Interest shall accrue on the Class D Shortfall at the Class D Note
Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) through (viii) of Section
2.3(a) and the Class R Monthly Interest on any Distribution Date, payments of interest to the Class R Noteholders will be reduced on a
<U>pro rata</U> basis by the amount of such deficiency. The aggregate amount, if</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">any, of such deficiency on any Distribution
Date (which deficiency on any Distribution Date shall not exceed the Class R Monthly Interest for the Series 2022-3 Interest Period ended
on the day preceding such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior
Distribution Dates, shall be referred to as the &#8220;<U>Class R Shortfall</U>&#8221;. Interest shall accrue on the Class R Shortfall
at the Class R Note Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Note Interest</U>. (a) On each Distribution Date, subject to Section 9.8 of the Base Indenture, the Paying Agent
shall, in accordance with Section 6.1 of the Base Indenture, pay the following amounts in the following order of priority from amounts
deposited into the Series 2022-3 Distribution Account pursuant to Section 2.3:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>first</U>, to the Class A Noteholders, the amounts due to the Class A Noteholders described in Sections 2.3(a)(i) and (ii);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>second</U>, to the Class B Noteholders, the amounts due to the Class B Noteholders described in Sections 2.3(a)(iii) and (iv);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>third</U>, to the Class C Noteholders, the amounts due to the Class C Noteholders described in Sections 2.3(a)(v) and (vi);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>fourth</U>, to the Class D Noteholders, the amounts due to the Class D Noteholders described in Sections 2.3(a)(vii) and (viii);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>fifth</U>, to the Class R Noteholders, the amounts due to the Class R Noteholders described in Sections 2.3(a)(ix) and (x).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Note Principal</U>.</P>

<P STYLE="text-align: justify; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Monthly Payments During Controlled Amortization Period
or Rapid Amortization Period</U>. On each Determination Date, commencing on the second Determination Date during the Series 2022-3 Controlled
Amortization Period or the first Determination Date after the commencement of the Series 2022-3 Rapid Amortization Period, the Administrator
shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement and in accordance with this Section&nbsp;2.5
as to (1) the amount allocated to the Series 2022-3 Notes during the Related Month pursuant to Section 2.2(b)(ii), (c)(ii) or (d)(ii),
as the case may be, (2) any amounts to be drawn on the Series 2022-3 Demand Notes and/or on the Multi-Series Letters of Credit (or withdrawn
from the Series 2022-3 Cash Collateral Account) pursuant to this Section 2.5 and (3) any amounts to be withdrawn from the Series 2022-3
Reserve Account pursuant to this Section 2.5 and deposited into the Series 2022-3 Distribution Account. On the Distribution Date following
each such Determination Date, the Trustee shall withdraw the amount allocated to the Series 2022-3 Notes during the Related Month pursuant
to Section 2.2(b)(ii), (c)(ii) or (d)(ii), as the case may be, from the Series 2022-3 Collection Account and deposit such amount in the
Series 2022-3 Distribution Account, to be paid to the holders of the Series 2022-3 Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Principal Draws on Multi-Series Letters of Credit</U>. If the Administrator determines on the Business Day immediately preceding
any Distribution Date during the Series</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">2022-3 Rapid Amortization Period that on such
Distribution Date there will exist a Series 2022-3 Lease Principal Payment Deficit, the Administrator shall instruct the Trustee in writing
to draw on the Multi-Series Letters of Credit, if any, as provided below. Upon receipt of a notice by the Trustee from the Administrator
in respect of a Series 2022-3 Lease Principal Payment Deficit on or prior to 3:00 p.m. (New York City time) on the Business Day immediately
preceding a Distribution Date, the Trustee shall, by 5:00 p.m. (New York City time) on such Business Day draw an amount as set forth in
such notice equal to the least of (i) such Series 2022-3 Lease Principal Payment Deficit, (ii) the Principal Deficit Amount for such Distribution
Date and (iii)&nbsp;the Series 2022-3 Allocated Multi-Series Letter of Credit Liquidity Amount on the Multi-Series Letters of Credit by
presenting to each Multi-Series Letter of Credit Provider a draft accompanied by a Certificate of Lease Deficit Demand and shall cause
the Lease Deficit Disbursements to be deposited in the Series 2022-3 Distribution Account on such date; <U>provided</U>, <U>however</U>,
that if the Series 2022-3 Cash Collateral Account has been established and funded, the Trustee shall withdraw from the Series 2022-3 Cash
Collateral Account and deposit in the Series 2022-3 Distribution Account an amount equal to the lesser of (x) the Series 2022-3 Cash Collateral
Percentage for such date of the lesser of the Series 2022-3 Lease Principal Payment Deficit and the Principal Deficit Amount for such
Distribution Date and (y) the Series 2022-3 Available Cash Collateral Account Amount on such date and draw an amount equal to the remainder
of such amount on the Multi-Series Letters of Credit. Notwithstanding any of the preceding to the contrary, during the period after the
date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code until the date on which each
of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made
under the AESOP I Operating Lease, the Administrator shall only instruct the Trustee to draw on the Multi-Series Letters of Credit (or
withdraw from the Series 2022-3 Cash Collateral Account, if applicable) pursuant to this Section 2.5(b), and the Trustee shall only draw
(or withdraw), an amount equal to the lesser of (i) the amount determined as provided in the preceding sentence and (ii) the excess, if
any, of (x) the Series 2022-3 Liquidity Amount on such date over (y) the Series 2022-3 Required Liquidity Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Final Distribution Date</U>. Each of the entire Class A Invested Amount, the entire Class B Invested Amount, the entire Class
C Invested Amount, the entire Class D Invested Amount and the entire Class R Invested Amount shall be due and payable on the Series 2022-3
Final Distribution Date. In connection therewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Demand Note Draw</U>. If the amount to be deposited in the Series 2022-3 Distribution Account in accordance with Section 2.5(a)
together with any amounts to be deposited therein in accordance with Section 2.5(b) on the Series 2022-3 Final Distribution Date is less
than the Series 2022-3 Senior Invested Amount and there are any Multi-Series Letters of Credit on such date, then, prior to 10:00 a.m.
(New York City time) on the second Business Day prior to the Series 2022-3 Final Distribution Date, the Administrator shall instruct the
Trustee in writing to make a demand (a &#8220;<U>Demand Notice</U>&#8221;) substantially in the form attached hereto as <U>Exhibit I</U>
on the Demand Note Issuers for payment under the Series 2022-3 Demand Notes in an amount equal to the lesser of (i) such insufficiency
and (ii) the Series 2022-3 Allocated Multi-Series Letter of Credit Amount. The Trustee shall, prior to 12:00 noon (New York City time)
on the second Business Day preceding such Series 2022-3 Final Distribution Date deliver such</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Demand Notice to the Demand Note Issuers;
<U>provided</U>, <U>however</U>, that if an Event of Bankruptcy (or the occurrence of an event described in clause (a) of the definition
thereof, without the lapse of a period of sixty (60) consecutive days) with respect to a Demand Note Issuer shall have occurred and be
continuing, the Trustee shall not be required to deliver such Demand Notice to such Demand Note Issuer. The Trustee shall cause the proceeds
of any demand on the Series 2022-3 Demand Notes to be deposited into the Series 2022-3 Distribution Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Letter of Credit Draw</U>. In the event that either (x) on or prior to 10:00 a.m. (New York City time) on the Business Day immediately
preceding the Series 2022-3 Final Distribution Date a Demand Notice has been transmitted by the Trustee to the Demand Note Issuers pursuant
to clause (i) of this Section 2.5(c) and any Demand Note Issuer shall have failed to pay to the Trustee or deposit into the Series 2022-3
Distribution Account the amount specified in such Demand Notice in whole or in part or (y) due to the occurrence of an Event of Bankruptcy
(or the occurrence of an event described in clause (a) of the definition thereof, without the lapse of a period of sixty (60) consecutive
days) with respect to one or more of the Demand Note Issuers, the Trustee shall not have delivered such Demand Notice to any Demand Note
Issuer on the second Business Day preceding the Series 2022-3 Final Distribution Date, then, in the case of (x) or (y) the Trustee shall
draw on the Multi-Series Letters of Credit by 12:00 noon (New York City time) on such Business Day an amount equal to the lesser of (a)
the amount that the Demand Note Issuers so failed to pay under the Series 2022-3 Demand Notes (or, the amount that the Trustee failed
to demand for payment thereunder) and (b) the Series 2022-3 Allocated Multi-Series Letter of Credit Amount on such Business Day by presenting
to each Multi-Series Letter of Credit Provider a draft accompanied by a Certificate of Unpaid Demand Note Demand; <U>provided</U>, <U>however</U>,
that if the Series 2022-3 Cash Collateral Account has been established and funded, the Trustee shall withdraw from the Series 2022-3 Cash
Collateral Account and deposit in the Series 2022-3 Distribution Account an amount equal to the lesser of (x) the Series 2022-3 Cash Collateral
Percentage on such Business Day of the amount that the Demand Note Issuers so failed to pay under the Series 2022-3 Demand Notes (or,
the amount that the Trustee failed to demand for payment thereunder) and (y) the Series 2022-3 Available Cash Collateral Account Amount
on such Business Day and draw an amount equal to the remainder of the amount that the Demand Note Issuers failed to pay under the Series
2022-3 Demand Notes (or, the amount that the Trustee failed to demand for payment thereunder) on the Multi-Series Letters of Credit. The
Trustee shall deposit, or cause the deposit of, the applicable portion of the proceeds of any draw on the Multi-Series Letters of Credit
related to the Series 2022-3 Notes and the proceeds of any withdrawal from the Series 2022-3 Cash Collateral Account to be deposited in
the Series 2022-3 Distribution Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reserve Account Withdrawal</U>. If, after giving effect to the deposit into the Series 2022-3 Distribution Account of the amount
to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount
to be deposited in the Series 2022-3 Distribution Account with respect to the Series 2022-3 Final Distribution Date is or will be less
than the Series 2022-3 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Business Day prior to such Series 2022-3
Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2022-3 Reserve Account, an
amount equal to the lesser of the Series 2022-3 Available Reserve Account Amount and such remaining insufficiency and deposit it in the
Series 2022-3 Distribution Account on such Series 2022-3 Final Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Principal Deficit Amount</U>. On each Distribution Date, other than the Series 2022-3 Final Distribution Date, on which the
Principal Deficit Amount is greater than zero, amounts shall be transferred to the Series 2022-3 Distribution Account as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Demand Note Draw</U>. If on any Determination Date, the Administrator determines that the Principal Deficit Amount with respect
to the next succeeding Distribution Date will be greater than zero and there are any Multi-Series Letters of Credit on such date, prior
to 10:00 a.m. (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee
in writing to deliver a Demand Notice to the Demand Note Issuers demanding payment of an amount equal to the lesser of (A) the Principal
Deficit Amount and (B) the Series 2022-3 Allocated Multi-Series Letter of Credit Amount. The Trustee shall, prior to 12:00 noon (New York
City time) on the second Business Day preceding such Distribution Date, deliver such Demand Notice to the Demand Note Issuers; <U>provided</U>,
<U>however</U>, that if an Event of Bankruptcy (or the occurrence of an event described in clause (a) of the definition thereof, without
the lapse of a period of sixty (60) consecutive days) with respect to a Demand Note Issuer shall have occurred and be continuing, the
Trustee shall not be required to deliver such Demand Notice to such Demand Note Issuer. The Trustee shall cause the proceeds of any demand
on the Series 2022-3 Demand Note to be deposited into the Series 2022-3 Distribution Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Letter of Credit Draw</U>. In the event that either (x) on or prior to 10:00 a.m. (New York City time) on the Business Day prior
to such Distribution Date, any Demand Note Issuer shall have failed to pay to the Trustee or deposit into the Series 2022-3 Distribution
Account the amount specified in such Demand Notice in whole or in part or (y) due to the occurrence of an Event of Bankruptcy (or the
occurrence of an event described in clause (a) of the definition thereof, without the lapse of a period of sixty (60) consecutive days)
with respect to any Demand Note Issuer, the Trustee shall not have delivered such Demand Notice to any Demand Note Issuer on the second
Business Day preceding such Distribution Date, then, in the case of (x) or (y) the Trustee shall on such Business Day draw on the Multi-Series
Letters of Credit an amount equal to the lesser of (i)&nbsp;Series 2022-3 Allocated Multi-Series Letter of Credit Amount and (ii)&nbsp;the
aggregate amount that the Demand Note Issuers failed to pay under the Series 2022-3 Demand Notes (or, the amount that the Trustee failed
to demand for payment thereunder) by presenting to each Multi-Series Letter of Credit Provider a draft accompanied by a Certificate of
Unpaid Demand Note Demand; <U>provided</U>, <U>however</U>, that if the Series 2022-3 Cash Collateral Account has been established and
funded, the Trustee shall withdraw from the Series 2022-3 Cash Collateral Account and deposit in the Series 2022-3 Distribution Account
an amount equal to the lesser of (x) the Series 2022-3 Cash Collateral Percentage on such Business Day of the aggregate amount that the
Demand Note Issuers so failed to pay under the Series 2022-3 Demand Notes (or, the amount that</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">the Trustee failed to demand for payment
thereunder) and (y) the Series 2022-3 Available Cash Collateral Account Amount on such Business Day and draw an amount equal to the remainder
of the aggregate amount that the Demand Note Issuers failed to pay under the Series 2022-3 Demand Notes (or, the amount that the Trustee
failed to demand for payment thereunder) on the Multi-Series Letters of Credit. The Trustee shall deposit into, or cause the deposit of,
the portion of the proceeds of any draw on the Multi-Series Letters of Credit related to the Series 2022-3 Notes and the proceeds of any
withdrawal from the Series 2022-3 Cash Collateral Account to be deposited in the Series 2022-3 Distribution Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reserve Account Withdrawal</U>. If the Series 2022-3 Allocated Multi-Series Letter of Credit Amount will be less than the Principal
Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution
Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2022-3 Reserve Account, an amount equal to the
lesser of (x) the Series 2022-3 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the
amounts to be deposited in the Series 2022-3 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit
it in the Series 2022-3 Distribution Account on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Distributions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class A Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-3 Collection
Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2022-3 Distribution Account pursuant to Section 2.5(b), (c)
or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to each Class A Noteholder from
the Series 2022-3 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c) or (d), to the extent necessary
to pay the Class A Controlled Distribution Amount during the Series 2022-3 Controlled Amortization Period or to the extent necessary to
pay the Class A Invested Amount during the Series 2022-3 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class B Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-3 Collection
Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2022-3 Distribution Account pursuant to Section 2.5(b), (c)
or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to each Class B Noteholder from
the Series 2022-3 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c) or (d) less the aggregate amount
applied to make the payments required pursuant to Section 2.5(e)(i), to the extent necessary to pay the Class B Controlled Distribution
Amount during the Series 2022-3 Controlled Amortization Period or to the extent necessary to pay the Class B Invested Amount during the
Series 2022-3 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class C Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-3 Collection
Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2022-3 Distribution Account pursuant to Section 2.5(b), (c)
or (d) the Paying Agent shall, in accordance with Section 6.1 of the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Base Indenture, pay <U>pro rata</U> to
each Class C Noteholder from the Series 2022-3 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c)
or (d) less the aggregate amount applied to make the payments required pursuant to Section 2.5(e)(i) and Section 2.5(e)(ii), to the extent
necessary to pay the Class C Controlled Distribution Amount during the Series 2022-3 Controlled Amortization Period or to the extent necessary
to pay the Class C Invested Amount during the Series 2022-3 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class D Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-3 Collection
Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2022-3 Distribution Account pursuant to Section 2.5(b), (c)
or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to each Class D Noteholder from
the Series 2022-3 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c) or (d) less the aggregate amount
applied to make the payments required pursuant to Section 2.5(e)(i), Section 2.5(e)(ii) and Section 2.5(e)(iii), to the extent necessary
to pay the Class D Controlled Distribution Amount during the Series 2022-3 Controlled Amortization Period or to the extent necessary to
pay the Class D Invested Amount during the Series 2022-3 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class R Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-3 Collection
Account pursuant to Section 2.5(a) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to
each Class R Noteholder from the Series 2022-3 Distribution Account the amount deposited therein pursuant to Section 2.5(a) less the aggregate
amount applied to make the payments required pursuant to Section 2.5(e)(i), Section 2.5(e)(ii), Section 2.5(e)(iii) and Section 2.5(e)(iv),
to the extent necessary to pay the Class R Controlled Amortization Amount during the Series 2022-3 Controlled Amortization Period or to
the extent necessary to pay the Class R Invested Amount during the Series 2022-3 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administrator&#8217;s Failure to Instruct the Trustee to Make a Deposit, Draw or Payment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Administrator fails to give notice or instructions to make (i) any payment from or deposit into the Collection Account,
(ii) any draw on the Series 2022-3 Demand Notes or the Multi-Series Letters of Credit or (iii) any withdrawals from any Account, in each
case required to be given by the Administrator, at the time specified in the Administration Agreement or any other Related Document (including
applicable grace periods), the Trustee shall make such payment or deposit into or from the Collection Account, such draw on the Series
2022-3 Demand Notes or the Multi-Series Letters of Credit, or such withdrawal from such Account, in each case without such notice or instruction
from the Administrator; provided, however, that the Administrator, upon request of the Trustee, promptly provides the Trustee with all
information necessary to allow the Trustee to make such a payment, deposit, draw or withdrawal. When any payment, deposit, draw or withdrawal
hereunder or under any other Related Document is required to be made by the Trustee or the Paying Agent at or prior to a</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">specified time, the Administrator shall deliver
any applicable written instructions with respect thereto reasonably in advance of such specified time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-3 Reserve Account</U>.</P>

<P STYLE="text-align: justify; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Establishment of Series 2022-3 Reserve Account</U>. ABRCF
shall establish and maintain in the name of the Series 2022-3 Agent for the benefit of the Class A Noteholders, the Class B Noteholders,
the Class C Noteholders and the Class D Noteholders, or cause to be established and maintained, an account (the &#8220;<U>Series 2022-3
Reserve Account</U>&#8221;), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the
Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders. The Series 2022-3 Reserve Account
shall be maintained (i) with a Qualified Institution, or (ii) as a segregated trust account with the corporate trust department of a
depository institution or trust company having corporate trust powers and acting as trustee for funds deposited in the Series 2022-3
Reserve Account; <U>provided</U>, <U>however</U>, that, if at any time such Qualified Institution is no longer a Qualified Institution
or the credit rating of any securities issued by such depositary institution or trust company shall be reduced to below &#8220;Baa3&#8221;
by Moody&#8217;s or &#8220;BBB-&#8221; by Fitch, then ABRCF shall, within thirty (30) days of such reduction, establish a new Series
2022-3 Reserve Account with a new Qualified Institution. If the Series 2022-3 Reserve Account is not maintained in accordance with the
previous sentence, ABRCF shall establish a new Series 2022-3 Reserve Account, within ten (10) Business Days after obtaining knowledge
of such fact, which complies with such sentence, and shall instruct the Series 2022-3 Agent in writing to transfer all cash and investments
from the non&#45;qualifying Series 2022-3 Reserve Account into the new Series 2022-3 Reserve Account. Initially, the Series 2022-3 Reserve
Account will be established with The Bank of New York Mellon Trust Company, N.A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administration of the Series 2022-3 Reserve Account</U>. The Administrator may instruct the institution maintaining the Series
2022-3 Reserve Account to invest funds on deposit in the Series 2022-3 Reserve Account from time to time in Permitted Investments; <U>provided</U>,
<U>however</U>, that any such investment shall mature not later than the Business Day prior to the Distribution Date following the date
on which such funds were received, unless any Permitted Investment held in the Series 2022-3 Reserve Account is held with the Paying Agent,
then such investment may mature on such Distribution Date and such funds shall be available for withdrawal on or prior to such Distribution
Date; <U>provided further</U>, that in the case of Permitted Investments held in the Series 2022-3 Reserve Account and so long as any
Series 2022-3 Note is rated by Fitch (x) any Permitted Investment set forth in clauses (ii), (iii), (vi) and (vii) of the definition thereof
will have a rating of &#8220;AA-&#8221; or &#8220;F1+&#8221; by Fitch and (y) any Permitted Investment set forth in clause (v) of the
definition thereof will either have a rating of &#8220;AAAmmf&#8221; by Fitch or, if such fund is not rated by Fitch, the then highest
rating from two nationally recognized investment rating agencies (other than Fitch). All such Permitted Investments will be credited to
the Series 2022-3 Reserve Account and any such Permitted Investments that constitute (i)&nbsp;physical property (and that is not either
a United States security entitlement or a security entitlement) shall be physically delivered to the Trustee; (ii)&nbsp;United States
security entitlements or security entitlements shall be controlled (as defined in Section 8&#45;106 of the New&nbsp;York UCC) by the Trustee
pending maturity or disposition, and (iii)&nbsp;uncertificated securities (and not United States security entitlements) shall be delivered
to the Trustee by causing the Trustee to become the registered holder of such securities. The Trustee shall, at the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">expense of ABRCF, take such action as is required
to maintain the Trustee&#8217;s security interest in the Permitted Investments credited to the Series 2022-3 Reserve Account. ABRCF shall
not direct the Trustee to dispose of (or permit the disposal of) any Permitted Investment prior to the maturity thereof to the extent
such disposal would result in a loss of the purchase price of such Permitted Investment. In the absence of written investment instructions
hereunder, funds on deposit in the Series 2022-3 Reserve Account shall remain uninvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Earnings from Series 2022-3 Reserve Account</U>. All interest and earnings (net of losses and investment expenses) paid on funds
on deposit in the Series 2022-3 Reserve Account shall be deemed to be on deposit therein and available for distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-3 Reserve Account Constitutes Additional Collateral for Series 2022-3 Senior Notes</U>. In order to secure and provide
for the repayment and payment of the ABRCF Obligations with respect to the Series 2022-3 Senior Notes, ABRCF hereby grants a security
interest in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the Class A Noteholders, the Class
B Noteholders, the Class C Noteholders and the Class D Noteholders, all of ABRCF&#8217;s right, title and interest in and to the following
(whether now or hereafter existing or acquired): (i) the Series 2022-3 Reserve Account, including any security entitlement thereto; (ii)
all funds on deposit therein from time to time; (iii) all certificates and instruments, if any, representing or evidencing any or all
of the Series 2022-3 Reserve Account or the funds on deposit therein from time to time; (iv)&nbsp;all investments made at any time and
from time to time with monies in the Series 2022-3 Reserve Account, whether constituting securities, instruments, general intangibles,
investment property, financial assets or other property; (v) all interest, dividends, cash, instruments and other property from time to
time received, receivable or otherwise distributed in respect of or in exchange for the Series 2022-3 Reserve Account, the funds on deposit
therein from time to time or the investments made with such funds; and (vi) all proceeds of any and all of the foregoing, including, without
limitation, cash (the items in the foregoing clauses (i)&nbsp;through (vi) are referred to, collectively, as the &#8220;<U>Series 2022-3
Reserve Account Collateral</U>&#8221;). The Trustee shall possess all right, title and interest in and to all funds on deposit from time
to time in the Series 2022-3 Reserve Account and in all proceeds thereof, and shall be the only person authorized to originate entitlement
orders in respect of the Series 2022-3 Reserve Account. The Series 2022-3 Reserve Account Collateral shall be under the sole dominion
and control of the Trustee for the benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class
D Noteholders. The Series 2022-3 Agent hereby agrees (i) to act as the securities intermediary (as defined in Section 8&#45;102(a)(14)
of the New&nbsp;York UCC) with respect to the Series 2022-3 Reserve Account; (ii) that its jurisdiction as securities intermediary is
New&nbsp;York; (iii) that each item of property (whether investment property, financial asset, security, instrument or cash) credited
to the Series 2022-3 Reserve Account shall be treated as a financial asset (as defined in Section 8&#45;102(a)(9) of the New&nbsp;York
UCC) and (iv) to comply with any entitlement order (as defined in Section 8&#45;102(a)(8) of the New&nbsp;York UCC) issued by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-3 Reserve Account Surplus</U>. In the event that the Series 2022-3 Reserve Account Surplus on any Distribution Date,
after giving effect to all withdrawals from the Series 2022-3 Reserve Account, is greater than zero, if no Series 2022-3 Enhancement Deficiency
or AESOP I Operating Lease Vehicle Deficiency would result therefrom or exist thereafter, the Trustee, acting in accordance with the written
instructions of the Administrator</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">pursuant to the Administration Agreement, shall
withdraw from the Series 2022-3 Reserve Account an amount equal to the Series 2022-3 Reserve Account Surplus and shall pay such amount
to ABRCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Series 2022-3 Reserve Account</U>. Upon the termination of the Indenture pursuant to Section 11.1 of the Base
Indenture, the Trustee, acting in accordance with the written instructions of the Administrator, after the prior payment of all amounts
owing to the Series 2022-3 Noteholders and payable from the Series 2022-3 Reserve Account as provided herein, shall withdraw from the
Series 2022-3 Reserve Account all amounts on deposit therein for payment to ABRCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Multi-Series Letters of Credit and Series 2022-3 Cash Collateral Account</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Multi-Series Letters
of Credit and Series 2022-3 Cash Collateral Account Constitute Additional Collateral for Series 2022-3 Senior Notes</U>. In order to
secure and provide for the repayment and payment of the ABRCF Obligations with respect to the Series 2022-3 Senior Notes, ABRCF hereby
grants a security interest in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the holders of
the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders, all of ABRCF&#8217;s right, title
and interest in and to the following (whether now or hereafter existing or acquired): (i)&nbsp;each applicable Multi-Series Letter of
Credit (except for any right, title and interest in such Multi-Series Letter of Credit related to supporting another Series of Notes);
(ii)&nbsp;the Series 2022-3 Cash Collateral Account, including any security entitlement thereto; (iii)&nbsp;all funds on deposit in the
Series 2022-3 Cash Collateral Account from time to time; (iv)&nbsp;all certificates and instruments, if any, representing or evidencing
any or all of the Series 2022-3 Cash Collateral Account or the funds on deposit therein from time to time; (v)&nbsp;all investments made
at any time and from time to time with monies in the Series 2022-3 Cash Collateral Account, whether constituting securities, instruments,
general intangibles, investment property, financial assets or other property; (vi)&nbsp;all interest, dividends, cash, instruments and
other property from time to time received, receivable or otherwise distributed in respect of or in exchange for the Series 2022-3 Cash
Collateral Account, the funds on deposit therein from time to time or the investments made with such funds; and (vii)&nbsp;all proceeds
of any and all of the foregoing, including, without limitation, cash (the items in the foregoing clauses (ii) through (vii)&nbsp;are
referred to, collectively, as the &#8220;<U>Series 2022-3 Cash Collateral Account Collateral</U>&#8221;). The Trustee shall, for the
benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders, possess all right,
title and interest in all funds on deposit from time to time in the Series 2022-3 Cash Collateral Account and in all proceeds thereof,
and shall be the only person authorized to originate entitlement orders in respect of the Series 2022-3 Cash Collateral Account. The
Series 2022-3 Cash Collateral Account shall be under the sole dominion and control of the Trustee for the benefit of the Class A Noteholders,
the Class B Noteholders, the Class C Noteholders and the Class D Noteholders. The Series 2022-3 Agent hereby agrees (i) to act as the
securities intermediary (as defined in Section 8&#45;102(a)(14) of the New&nbsp;York UCC) with respect to the Series 2022-3 Cash Collateral
Account; (ii) that its jurisdiction as a securities intermediary is New York, (iii) that each item of property (whether investment property,
financial asset, security, instrument or cash) credited to the Series 2022-3 Cash Collateral Account shall be treated as a financial
asset (as defined in Section 8&#45;102(a)(9) of the New&nbsp;York UCC) and (iv) to comply with</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">any entitlement order (as defined in Section
8&#45;102(a)(8) of the New&nbsp;York UCC) issued by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Multi-Series Letter of Credit Expiration Date</U>. If prior to the date which is ten (10) days prior to the then&#45;scheduled
Multi-Series Letter of Credit Expiration Date with respect to any Multi-Series Letter of Credit, excluding the amount allocated to the
Series 2022-3 Notes and available to be drawn under such Multi-Series Letter of Credit but taking into account the amount allocated to
the Series 2022-3 Notes under each substitute Multi-Series Letter of Credit which has been obtained from a Series 2022-3 Eligible Letter
of Credit Provider and is in full force and effect on such date, the Series 2022-3 Enhancement Amount would be equal to or more than the
Series 2022-3 Required Enhancement Amount and the Series 2022-3 Liquidity Amount would be equal to or greater than the Series 2022-3 Required
Liquidity Amount, then the Administrator shall notify the Trustee in writing no later than two (2) Business Days prior to such Multi-Series
Letter of Credit Expiration Date of such determination. If prior to the date which is ten (10) days prior to the then&#45;scheduled Multi-Series
Letter of Credit Expiration Date with respect to any Multi-Series Letter of Credit, excluding the amount allocated to the Series 2022-3
Notes and available to be drawn under such Multi-Series Letter of Credit but taking into account the amount allocated to the Series 2022-3
Notes under each substitute Multi-Series Letter of Credit which has been obtained from a Series 2022-3 Eligible Letter of Credit Provider
and is in full force and effect on such date, the Series 2022-3 Enhancement Amount would be less than the Series 2022-3 Required Enhancement
Amount or the Series 2022-3 Liquidity Amount would be less than the Series 2022-3 Required Liquidity Amount, then the Administrator shall
notify the Trustee in writing no later than two (2) Business Days prior to such Multi-Series Letter of Credit Expiration Date of (x) the
greater of (A) the excess, if any, of the Series 2022-3 Required Enhancement Amount over the Series 2022-3 Enhancement Amount, excluding
the amount allocated to the Series 2022-3 Notes and available amount under such expiring Multi-Series Letter of Credit but taking into
account the amount allocated to the Series 2022-3 Notes under any substitute Multi-Series Letter of Credit which has been obtained from
a Series 2022-3 Eligible Letter of Credit Provider and is in full force and effect, on such date, and (B) the excess, if any, of the Series
2022-3 Required Liquidity Amount over the Series 2022-3 Liquidity Amount, excluding the amount allocated to the Series 2022-3 Notes and
available amount under such expiring Multi-Series Letter of Credit but taking into account the amount allocated to the Series 2022-3 Notes
under any substitute Multi-Series Letter of Credit which has been obtained from a Series 2022-3 Eligible Letter of Credit Provider and
is in full force and effect, on such date, and (y) the amount allocated to the Series 2022-3 Notes and available to be drawn on such expiring
Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time)
on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to
the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw the lesser
of the amounts set forth in clauses (x) and (y) above on such expiring Multi-Series Letter of Credit by presenting a draft accompanied
by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2022-3 Cash Collateral
Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">If the Trustee does not receive
the notice from the Administrator described in the first paragraph of this Section 2.8(b) on or prior to the date that is two (2) Business
Days prior to each Multi-Series Letter of Credit Expiration Date, the Trustee shall, by 12:00 noon (New York</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">City time) on such Business Day draw the full
amount allocated to the Series 2022-3 Notes under such Multi-Series Letter of Credit by presenting a draft accompanied by a Certificate
of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2022-3 Cash Collateral Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Multi-Series Letter of Credit Providers</U>. The Administrator shall notify the Trustee in writing within one (1) Business Day
of becoming aware that (i) the long&#45;term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen
below &#8220;A1&#8221; as determined by Moody&#8217;s or &#8220;A+&#8221; as determined by Fitch or (ii) the short&#45;term senior unsecured
debt credit rating of any Multi-Series Letter of Credit Provider has fallen below &#8220;P-1&#8221; as determined by Moody&#8217;s or
&#8220;F1&#8221; as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i)&nbsp;the greater of (A) the
excess, if any, of the Series 2022-3 Required Enhancement Amount over the Series 2022-3 Enhancement Amount, excluding the amount allocated
to the Series 2022-3 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider,
on such date, and (B) the excess, if any, of the Series 2022-3 Required Liquidity Amount over the Series 2022-3 Liquidity Amount, excluding
the amount allocated to the Series 2022-3 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii)&nbsp;the
amount allocated to the Series 2022-3 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt
of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New
York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00
noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser
of the amounts in clause (i)&nbsp;and clause (ii)&nbsp;of the immediately preceding sentence on such Business Day by presenting a draft
accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2022-3 Cash
Collateral Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination Date Demands on the Multi-Series Letters of Credit</U>. Prior to 10:00 a.m. (New York City time) on the Business
Day immediately succeeding the Multi-Series Letter of Credit Termination Date, the Administrator shall determine the Series 2022-3 Demand
Note Payment Amount, if any, as of the Multi-Series Letter of Credit Termination Date and, if the Series 2022-3 Demand Note Payment Amount
is greater than zero, instruct the Trustee in writing to draw on the Multi-Series Letters of Credit. Upon receipt of any such notice by
the Trustee on or prior to 11:00 a.m. (New York City time) on a Business Day, the Trustee shall, by 12:00 noon (New York City time) on
such Business Day draw an amount equal to the lesser of (i)&nbsp;the Series 2022-3 Demand Note Payment Amount and (ii)&nbsp;the Series
2022-3 Allocated Multi-Series Letter of Credit Liquidity Amount on the Multi-Series Letters of Credit by presenting to each Multi-Series
Letter of Credit Provider a draft accompanied by a Certificate of Termination Date Demand and shall cause the Termination Date Disbursement
to be deposited in the Series 2022-3 Cash Collateral Account; <U>provided</U>, <U>however</U>, that if the Series 2022-3 Cash Collateral
Account has been established and funded, the Trustee shall draw an amount equal to the product of (a)&nbsp;100% <U>minus</U> the Series
2022-3 Cash Collateral Percentage and (b) the lesser of the amounts referred to in clause (i) and (ii) on such Business Day on the Multi-Series
Letters of Credit as calculated by the Administrator and provided in writing to the Trustee.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <U>Draws on the Multi-Series Letters of Credit</U>. If there is more than one Multi-Series Letter of Credit on the date of any
draw on the Multi-Series Letters of Credit pursuant to the terms of this Supplement, the Administrator shall instruct the Trustee, in
writing, to draw on each Multi-Series Letter of Credit in an amount equal to the Pro Rata Share of the Multi-Series Letter of Credit Provider
issuing such Multi-Series Letter of Credit of the amount of such draw on the Multi-Series Letters of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Establishment of Series 2022-3 Cash Collateral Account</U>. On or prior to the date of any drawing under a Multi-Series Letter
of Credit pursuant to Section&nbsp;2.8(b), (c) or (d) above, ABRCF shall establish and maintain in the name of the Trustee for the benefit
of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders, or cause to be established and
maintained, an account (the &#8220;<U>Series 2022-3 Cash Collateral Account</U>&#8221;), bearing a designation clearly indicating that
the funds deposited therein are held for the benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and
the Class D Noteholders. The Series 2022-3 Cash Collateral Account shall be maintained (i)&nbsp;with a Qualified Institution, or (ii)&nbsp;as
a segregated trust account with the corporate trust department of a depository institution or trust company having corporate trust powers
and acting as trustee for funds deposited in the Series 2022-3 Cash Collateral Account; <U>provided</U>, <U>however</U>, that if at any
time such Qualified Institution is no longer a Qualified Institution or the credit rating of any securities issued by such depository
institution or trust company shall be reduced to below &#8220;Baa3&#8221; by Moody&#8217;s or &#8220;BBB-&#8221; by Fitch, then ABRCF
shall, within thirty (30) days of such reduction, establish a new Series 2022-3 Cash Collateral Account with a new Qualified Institution
or a new segregated trust account with the corporate trust department of a depository institution or trust company having corporate trust
powers and acting as trustee for funds deposited in the Series 2022-3 Cash Collateral Account. If a new Series 2022-3 Cash Collateral
Account is established, ABRCF shall instruct the Trustee in writing to transfer all cash and investments from the non&#45;qualifying Series
2022-3 Cash Collateral Account into the new Series 2022-3 Cash Collateral Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administration of the Series 2022-3 Cash Collateral Account</U>. ABRCF may instruct (by standing instructions or otherwise)
the institution maintaining the Series 2022-3 Cash Collateral Account to invest funds on deposit in the Series 2022-3 Cash Collateral
Account from time to time in Permitted Investments; <U>provided</U>, <U>however</U>, that any such investment shall mature not later than
the Business Day prior to the Distribution Date following the date on which such funds were received, unless any Permitted Investment
held in the Series 2022-3 Cash Collateral Account is held with the Paying Agent, in which case such investment may mature on such Distribution
Date so long as such funds shall be available for withdrawal on or prior to such Distribution Date; <U>provided further</U>, that in the
case of Permitted Investments held in the Series 2022-3 Cash Collateral Account and so long as any Series 2022-3 Note is rated by Fitch
(x) any Permitted Investment set forth in clauses (ii), (iii), (vi) and (vii) of the definition thereof will have a rating of &#8220;AA-&#8221;
or &#8220;F1+&#8221; by Fitch and (y) any Permitted Investment set forth in clause (v) of the definition thereof will either have a rating
of &#8220;AAAmmf&#8221; by Fitch or, if such fund is not rated by Fitch, the then highest rating from two nationally recognized investment
rating agencies (other than Fitch). All such Permitted Investments will be credited to the Series 2022-3 Cash Collateral Account and any
such Permitted Investments that constitute (i)&nbsp;physical property (and that is not either a United States security entitlement or
a security entitlement) shall be physically delivered to the Trustee; (ii)&nbsp;United States security entitlements or security entitlements
shall be</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">controlled (as defined in Section 8&#45;106
of the New York UCC) by the Trustee pending maturity or disposition, and (iii)&nbsp;uncertificated securities (and not United States security
entitlements) shall be delivered to the Trustee by causing the Trustee to become the registered holder of such securities. The Trustee
shall, at the expense of ABRCF, take such action as is required to maintain the Trustee&#8217;s security interest in the Permitted Investments
credited to the Series 2022-3 Cash Collateral Account. ABRCF shall not direct the Trustee to dispose of (or permit the disposal of) any
Permitted Investment prior to the maturity thereof to the extent such disposal would result in a loss of the purchase price of such Permitted
Investment. In the absence of written investment instructions hereunder, funds on deposit in the Series 2022-3 Cash Collateral Account
shall remain uninvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Earnings from Series 2022-3 Cash Collateral Account</U>. All interest and earnings (net of losses and investment expenses) paid
on funds on deposit in the Series 2022-3 Cash Collateral Account shall be deemed to be on deposit therein and available for distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-3 Cash Collateral Account Surplus</U>. In the event that the Series 2022-3 Cash Collateral Account Surplus on any
Distribution Date (or, after the Multi-Series Letter of Credit Termination Date, on any date) is greater than zero, the Trustee, acting
in accordance with the written instructions of the Administrator, shall withdraw from the Series 2022-3 Cash Collateral Account an amount
equal to the Series 2022-3 Cash Collateral Account Surplus and shall pay such amount: <U>first</U>, to the Multi-Series Letter of Credit
Providers to the extent of any unreimbursed drawings under the related Series 2022-3 Reimbursement Agreement, for application in accordance
with the provisions of the related Series 2022-3 Reimbursement Agreement, and, <U>second</U>, to ABRCF any remaining amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Series 2022-3 Cash Collateral Account</U>. Upon the termination of this Supplement in accordance with its terms,
the Trustee, acting in accordance with the written instructions of the Administrator, after the prior payment of all amounts owing to
the Series 2022-3 Noteholders and payable from the Series 2022-3 Cash Collateral Account as provided herein, shall withdraw from the Series
2022-3 Cash Collateral Account all amounts on deposit therein (to the extent not withdrawn pursuant to Section&nbsp;2.8(i) above) and
shall pay such amounts: <U>first</U>, to the Multi-Series Letter of Credit Providers to the extent of any unreimbursed drawings under
the related Series 2022-3 Reimbursement Agreement, for application in accordance with the provisions of the related Series 2022-3 Reimbursement
Agreement, and, <U>second</U>, to ABRCF any remaining amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-3 Distribution Account</U>.</P>

<P STYLE="text-align: justify; text-indent: 1in; margin: 0"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Establishment of Series 2022-3 Distribution Account</U>.
ABRCF shall establish and maintain in the name of the Trustee for the benefit of the Series 2022-3 Noteholders, or cause to be established
and maintained, an account (the &#8220;<U>Series 2022-3 Distribution Account</U>&#8221;), bearing a designation clearly indicating that
the funds deposited therein are held for the benefit of the Series 2022-3 Noteholders. The Series 2022-3 Distribution Account shall be
maintained (i) with a Qualified Institution, or (ii) as a segregated trust account with the corporate trust department of a depository
institution or trust company having corporate trust powers and acting as trustee for funds deposited in the Series 2022-3 Distribution
Account; provided, however, that if at any time such Qualified Institution is no longer a Qualified</FONT></P>


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<P STYLE="text-align: justify; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Institution or the credit rating of any securities issued by such depositary institution
or trust company shall be reduced to below &#8220;Baa3&#8221; by Moody&#8217;s or &#8220;BBB-&#8221; by Fitch, then ABRCF shall, within
thirty (30) days of such reduction, establish a new Series 2022-3 Distribution Account with a new Qualified Institution. If the Series
2022-3 Distribution Account is not maintained in accordance with the previous sentence, ABRCF shall establish a new Series 2022-3 Distribution
Account, within ten (10) Business Days after obtaining knowledge of such fact, which complies with such sentence, and shall instruct
the Series 2022-3 Agent in writing to transfer all cash and investments from the non&#45;qualifying Series 2022-3 Distribution Account
into the new Series 2022-3 Distribution Account. Initially, the Series 2022-3 Distribution Account will be established with The Bank
of New York Mellon Trust Company, N.A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administration of the Series 2022-3 Distribution Account</U>. The Administrator may instruct the institution maintaining the
Series 2022-3 Distribution Account to invest funds on deposit in the Series 2022-3 Distribution Account from time to time in Permitted
Investments; <U>provided</U>, <U>however</U>, that any such investment shall mature not later than the Business Day prior to the Distribution
Date following the date on which such funds were received, unless any Permitted Investment held in the Series 2022-3 Distribution Account
is held with the Paying Agent, then such investment may mature on such Distribution Date and such funds shall be available for withdrawal
on or prior to such Distribution Date. All such Permitted Investments will be credited to the Series 2022-3 Distribution Account and any
such Permitted Investments that constitute (i)&nbsp;physical property (and that is not either a United States security entitlement or
a security entitlement) shall be physically delivered to the Trustee; (ii)&nbsp;United States security entitlements or security entitlements
shall be controlled (as defined in Section&nbsp;8&#45;106 of the New&nbsp;York UCC) by the Trustee pending maturity or disposition, and
(iii)&nbsp;uncertificated securities (and not United States security entitlements) shall be delivered to the Trustee by causing the Trustee
to become the registered holder of such securities. The Trustee shall, at the expense of ABRCF, take such action as is required to maintain
the Trustee&#8217;s security interest in the Permitted Investments credited to the Series 2022-3 Distribution Account. ABRCF shall not
direct the Trustee to dispose of (or permit the disposal of) any Permitted Investment prior to the maturity thereof to the extent such
disposal would result in a loss of the purchase price of such Permitted Investment. In the absence of written investment instructions
hereunder, funds on deposit in the Series 2022-3 Distribution Account shall remain uninvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Earnings from Series 2022-3 Distribution Account</U>. All interest and earnings (net of losses and investment expenses) paid
on funds on deposit in the Series 2022-3 Distribution Account shall be deemed to be on deposit and available for distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-3 Distribution Account Constitutes Additional Collateral for Series 2022-3 Notes</U>. In order to secure and provide
for the repayment and payment of the ABRCF Obligations with respect to the Series 2022-3 Notes, ABRCF hereby grants a security interest
in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the Series 2022-3 Noteholders, all of ABRCF&#8217;s
right, title and interest in and to the following (whether now or hereafter existing or acquired): (i) the Series 2022-3 Distribution
Account, including any security entitlement thereto; (ii) all funds on deposit therein from time to time; (iii) all certificates and instruments,
if any, representing or evidencing any or all of the Series 2022-3 Distribution Account or the funds on deposit therein from time to time;
(iv) all investments made at any time and from time to time with monies in the Series 2022-3 Distribution Account,</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">whether constituting securities, instruments,
general intangibles, investment property, financial assets or other property; (v) all interest, dividends, cash, instruments and other
property from time to time received, receivable or otherwise distributed in respect of or in exchange for the Series 2022-3 Distribution
Account, the funds on deposit therein from time to time or the investments made with such funds; and (vi)&nbsp;all proceeds of any and
all of the foregoing, including, without limitation, cash (the items in the foregoing clauses (i) through (vi) are referred to, collectively,
as the &#8220;<U>Series 2022-3 Distribution Account Collateral</U>&#8221;). The Trustee shall possess all right, title and interest in
all funds on deposit from time to time in the Series 2022-3 Distribution Account and in and to all proceeds thereof, and shall be the
only person authorized to originate entitlement orders in respect of the Series 2022-3 Distribution Account. The Series 2022-3 Distribution
Account Collateral shall be under the sole dominion and control of the Trustee for the benefit of the Series 2022-3 Noteholders. The Series
2022-3 Agent hereby agrees (i) to act as the securities intermediary (as defined in Section 8&#45;102(a)(14) of the New&nbsp;York UCC)
with respect to the Series 2022-3 Distribution Account; (ii)&nbsp;that its jurisdiction as securities intermediary is New York, (iii)
that each item of property (whether investment property, financial asset, security, instrument or cash) credited to the Series 2022-3
Distribution Account shall be treated as a financial asset (as defined in Section 8&#45;102(a)(9) of the New&nbsp;York UCC) and (iv) to
comply with any entitlement order (as defined in Section&nbsp;8&#45;102(a)(8) of the New&nbsp;York UCC) issued by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Series 2022-3 Accounts Permitted Investments</U>. ABRCF shall not, and shall not permit, funds on deposit in the Series 2022-3
Accounts to be invested in:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Permitted Investments that do not mature at least one (1) Business Day before the next Distribution Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>demand
deposits, time deposits or certificates of deposit with a maturity in excess of 360 days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>commercial paper which is not rated &#8220;P&#45;1&#8221; by Moody&#8217;s;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>money
market funds or eurodollar time deposits which are not rated at least &#8220;P-1&#8221; by Moody&#8217;s;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>eurodollar
deposits that are not rated &#8220;P&#45;1&#8221; by Moody&#8217;s or that are with financial institutions not organized under the laws
of a G&#45;7 nation; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any investment, instrument or security not otherwise listed in clause (i)&nbsp;through (vi) of the definition of &#8220;Permitted
Investments&#8221; in the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Series 2022-3 Demand Notes Constitute Additional Collateral for Series 2022-3 Senior Notes</U>. In order to secure and provide
for the repayment and payment of the ABRCF Obligations with respect to the Series 2022-3 Senior Notes, ABRCF hereby grants a security
interest in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the Class A Noteholders, the Class
B Noteholders, the Class C Noteholders and the Class D Noteholders, all of ABRCF&#8217;s right, title and interest in and to the following
(whether now or hereafter existing or acquired): (i)&nbsp;the Series 2022-3 Demand Notes; (ii)&nbsp;all certificates and instruments,
if any, representing or evidencing the Series 2022-3 Demand Notes; and (iii)&nbsp;all</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">proceeds of any and all of the foregoing, including,
without limitation, cash. On the date hereof, ABRCF shall deliver to the Trustee, for the benefit of the Class A Noteholders, the Class
B Noteholders, the Class C Noteholders and the Class D Noteholders, each Series 2022-3 Demand Note, endorsed in blank. The Trustee, for
the benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders, shall be the only
Person authorized to make a demand for payments on the Series 2022-3 Demand Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Subordination of the Class B Notes, Class C Notes, Class D Notes, Class E Notes and the Class R Notes</U>.</P>

<P STYLE="text-align: justify; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything
to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class B Notes will be subordinate
in all respects to the Class A Notes as and to the extent set forth in this Section 2.12(a). No payments on account of principal shall
be made with respect to the Class B Notes on any Distribution Date during the Series 2022-3 Controlled Amortization Period unless an
amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and
no payments on account of principal shall be made with respect to the Class B Notes during the Series 2022-3 Rapid Amortization Period
or on the Series 2022-3 Final Distribution Date until the Class A Notes have been paid in full. No payments on account of interest shall
be made with respect to the Class B Notes on any Distribution Date until all payments of interest then due and payable with respect to
the Class A Notes (including, without limitation, all accrued interest, all Class A Shortfall and all interest accrued on such Class
A Shortfall) have been paid in full.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class C Notes will be
subordinate in all respects to the Class A Notes and the Class B Notes as and to the extent set forth in this Section 2.12(b). No payments
on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2022-3 Controlled Amortization
Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A
Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class
B Noteholders. No payments on account of principal shall be made with respect to the Class C Notes during the Series 2022-3 Rapid Amortization
Period or on the Series 2022-3 Final Distribution Date until the Class A Notes and the Class B Notes have been paid in full. No payments
on account of interest shall be made with respect to the Class C Notes on any Distribution Date until all payments of interest then due
and payable with respect to the Class A Notes and Class B Notes (including, without limitation, all accrued interest, all Class A Shortfall,
all interest accrued on such Class A Shortfall, all Class B Shortfall and all interest accrued on such Class B Shortfall) have been paid
in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class D Notes will be
subordinate in all respects to the Class A Notes, the Class B Notes and the Class C Notes as and to the extent set forth in this Section
2.12(c). No payments on account of principal shall be made with respect to the Class D Notes on any Distribution Date during the Series
2022-3 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Month shall have been paid to the Class A Noteholders,
an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class B Noteholders and
an amount equal to the Class C Controlled Distribution Amount for the Related Month shall have been paid to the Class C Noteholders. No
payments on account of principal shall be made with respect to the Class D Notes during the Series 2022-3 Rapid Amortization Period or
on the Series 2022-3 Final Distribution Date until the Class A Notes, the Class B Notes and the Class C Notes have been paid in full.
No payments on account of interest shall be made with respect to the Class D Notes on any Distribution Date until all payments of interest
then due and payable with respect to the Class A Notes, Class B Notes and Class C Notes (including, without limitation, all accrued interest,
all Class A Shortfall, all interest accrued on such Class A Shortfall, all Class B Shortfall, all interest accrued on such Class B Shortfall,
all Class C Shortfall and all interest accrued on such Class C Shortfall) have been paid in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class E Notes, if issued,
will be subordinate in all respects to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes as and to the extent
set forth in this Section 2.12(d). No payments on account of principal shall be made with respect to the Class E Notes on any Distribution
Date during the Series 2022-3 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for
the Related Month shall have been paid to the Class A Noteholders, an amount equal to the Class B Controlled Distribution Amount for the
Related Month shall have been paid to the Class B Noteholders, an amount equal to the Class C Controlled Distribution Amount for the Related
Month shall have been paid to the Class C Noteholders and an amount equal to the Class D Controlled Distribution Amount for the Related
Month shall have been paid to the Class D Noteholders. No payments on account of principal shall be made with respect to the Class E Notes
during the Series 2022-3 Rapid Amortization Period or on the Series 2022-3 Final Distribution Date until the Class A Notes, the Class
B Notes, the Class C Notes and the Class D Notes have been paid in full. No payments on account of interest shall be made with respect
to the Class E Notes on any Distribution Date until all payments of interest then due and payable with respect to the Class A Notes, Class
B Notes, Class C Notes and Class D Notes (including, without limitation, all accrued interest, all Class A Shortfall, all interest accrued
on such Class A Shortfall, all Class B Shortfall, all interest accrued on such Class B Shortfall, all Class C Shortfall, all interest
accrued on such Class C Shortfall, all Class D Shortfall and all interest accrued on such Class D Shortfall) have been paid in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class R Notes will be
subordinate in all respects to the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes (if issued),
as and to the extent set forth in this Section 2.12(e). No payments on account of principal shall be made with respect to the Class R
Notes during the Series 2022-3 Controlled Amortization Period or the Series 2022-3 Rapid Amortization Period or on the Series 2022-3 Final
Distribution Date until the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and, if issued, the Class E Notes have
been paid in full. No payments on account of interest shall be made with respect to the Class R Notes on any Distribution Date until all
payments of interest and principal due and payable on such Distribution Date with respect to the Class A Notes, the Class B Notes, the
Class C Notes, the Class D Notes and, if issued, Class E Notes (including, without limitation, all accrued interest, all Class A Shortfall,
all interest</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">accrued on such Class A Shortfall, all Class
B Shortfall, all interest accrued on such Class B Shortfall, all Class C Shortfall, all interest accrued on such Class C Shortfall, all
Class D Shortfall, all interest accrued on such Class D Shortfall, all due and unpaid interest on the Class&nbsp;E Notes (if issued) and
all interest accrued on such unpaid amounts) have been paid in full.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE III<BR>
<BR>
AMORTIZATION EVENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">In addition to the Amortization
Events set forth in Section 9.1 of the Base Indenture, any of the following shall be an Amortization Event with respect to the Series
2022-3 Notes and collectively shall constitute the Amortization Events set forth in Section 9.1(n) of the Base Indenture with respect
to the Series 2022-3 Notes (without notice or other action on the part of the Trustee or any holders of the Series 2022-3 Notes):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a Series 2022-3 Enhancement Deficiency shall occur and continue for at least two (2) Business Days; <U>provided</U>, <U>however</U>,
that such event or condition shall not be an Amortization Event if during such two (2) Business Day period such Series 2022-3 Enhancement
Deficiency shall have been cured in accordance with the terms and conditions of the Indenture and the Related Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Series 2022-3 Liquidity Amount shall be less than the Series 2022-3 Required Liquidity Amount for at least two (2) Business
Days; <U>provided</U>, <U>however</U>, that such event or condition shall not be an Amortization Event if during such two (2)&nbsp;Business
Day period such insufficiency shall have been cured in accordance with the terms and conditions of the Indenture and the Related Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Collection Account, the Series 2022-3 Collection Account, the Series 2022-3 Excess Collection Account or the Series 2022-3
Reserve Account shall be subject to an injunction, estoppel or other stay or a Lien (other than Liens permitted under the Related Documents);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all principal of and interest on any Class of the Series 2022-3 Notes is not paid in full on or before the Series 2022-3 Expected
Final Distribution Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any Multi-Series Letter of Credit shall not be in full force and effect for at least two (2) Business Days and (x) either a Series
2022-3 Enhancement Deficiency would result from excluding the Series 2022-3 Applicable Multi-Series L/C Amount attributable to such Multi-Series
Letter of Credit from the Series 2022-3 Enhancement Amount or (y) the Series 2022-3 Liquidity Amount, excluding therefrom the Series 2022-3
Applicable Multi-Series L/C Amount attributable to such Multi-Series Letter of Credit, would be less than the Series 2022-3 Required Liquidity
Amount;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>from and after the funding of the Series 2022-3 Cash Collateral Account, the Series 2022-3 Cash Collateral Account shall be subject
to an injunction, estoppel or other stay or a Lien (other than Liens permitted under the Related Documents) for at least two (2) Business
Days and either (x) a Series 2022-3 Enhancement Deficiency would result from</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">excluding the Series 2022-3 Available Cash
Collateral Account Amount from the Series 2022-3 Enhancement Amount or (y) the Series 2022-3 Liquidity Amount, excluding therefrom the
Series 2022-3 Available Cash Collateral Account Amount, would be less than the Series 2022-3 Required Liquidity Amount; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an Event of Bankruptcy shall have occurred with respect to any Multi-Series Letter of Credit Provider or any Multi-Series Letter
of Credit Provider repudiates its Multi-Series Letter of Credit or refuses to honor a proper draw thereon and either (x) a Series 2022-3
Enhancement Deficiency would result from excluding the Series 2022-3 Applicable Multi-Series L/C Amount attributable to such Multi-Series
Letter of Credit from the Series 2022-3 Enhancement Amount or (y)&nbsp;the Series 2022-3 Liquidity Amount, excluding therefrom the Series
2022-3 Applicable Multi-Series L/C Amount attributable to such Multi-Series Letter of Credit, would be less than the Series 2022-3 Required
Liquidity Amount.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE IV<BR>
<BR>
FORM OF SERIES 2022-3 NOTES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Restricted Global Series 2022-3 Notes</U>. Each Class of the Series 2022-3 Notes to be issued in the United States will be issued
in book&#45;entry form and represented by one or more permanent global Notes in fully registered form without interest coupons (each,
a &#8220;<U>Restricted Global Class A Note</U>&#8221;, a &#8220;<U>Restricted Global Class B Note</U>&#8221;, a &#8220;<U>Restricted Global
Class C Note</U>&#8221;, a &#8220;<U>Restricted Global Class D Note</U>&#8221; or a &#8220;<U>Restricted Global Class R Note</U>&#8221;,
as the case may be), substantially in the form set forth in <U>Exhibits A&#45;1</U>, <U>B-1</U>, <U>C&#45;1</U>, <U>D-1</U> and <U>E-1</U>,
with such legends as may be applicable thereto as set forth in the Base Indenture, and will be sold only in the United States (1) initially
to institutional accredited investors within the meaning of Regulation D under the Securities Act in reliance on an exemption from the
registration requirements of the Securities Act and (2)&nbsp;thereafter to qualified institutional buyers within the meaning of, and in
reliance on, Rule 144A under the Securities Act and shall be deposited on behalf of the purchasers of such Class of the Series 2022-3
Notes represented thereby, with the Trustee as custodian for DTC, and registered in the name of Cede as DTC&#8217;s nominee, duly executed
by ABRCF and authenticated by the Trustee in the manner set forth in Section 2.4 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Temporary Global Series 2022-3 Notes; Permanent Global Series 2022-3 Notes</U>. Each Class of the Series 2022-3 Notes to be
issued outside the United States will be issued and sold in transactions outside the United States in reliance on Regulation S under the
Securities Act, as provided in the applicable note purchase agreement, and shall initially be issued in the form of one or more temporary
notes in registered form without interest coupons (each, a &#8220;<U>Temporary Global Class A Note</U>&#8221;, a &#8220;<U>Temporary Global
Class B Note</U>&#8221;, a &#8220;<U>Temporary Global Class C Note</U>&#8221;, a &#8220;<U>Temporary Global Class D Note</U>&#8221; or
a &#8220;<U>Temporary Global Class R Note</U>&#8221;, as the case may be, and collectively the &#8220;<U>Temporary Global Series 2022-3
Notes</U>&#8221;), substantially in the form set forth in <U>Exhibits A&#45;2</U>, <U>B-2</U>, <U>C&#45;2</U>, <U>D-2</U> and E<U>-2</U>
which shall be deposited on behalf of the purchasers of such Class of the Series 2022-3 Notes represented thereby with a custodian for,
and registered in the name of a nominee of DTC, for the account of Euroclear Bank S.A./N.V., as operator of the Euroclear System, or for
Clearstream Banking, <I>soci&eacute;t&eacute; anonyme</I>, duly executed by ABRCF and authenticated by the Trustee in the manner set</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">forth in Section 2.4 of the Base Indenture.
Interests in each Temporary Global Series 2022-3 Note will be exchangeable, in whole or in part, for interests in one or more permanent
global notes in registered form without interest coupons (each, a &#8220;<U>Permanent Global Class A Note</U>&#8221;, a &#8220;<U>Permanent
Global Class B Note</U>&#8221;, a &#8220;<U>Permanent Global Class C Note</U>&#8221;, a &#8220;<U>Permanent Global Class D Note</U>&#8221;
or a &#8220;<U>Permanent Global Class R Note</U>&#8221;, as the case may be, and collectively the &#8220;<U>Permanent Global Series 2022-3
Notes</U>&#8221;), substantially in the form of <U>Exhibits A&#45;3</U>, <U>B-3</U>, <U>C&#45;3</U>, <U>D-3</U> and <U>E-3</U> in accordance
with the provisions of such Temporary Global Series 2022-3 Note and the Base Indenture (as modified by this Supplement). Interests in
a Permanent Global Series 2022-3 Note will be exchangeable for a definitive Series 2022-3 Note in accordance with the provisions of such
Permanent Global Series 2022-3 Note and the Base Indenture (as modified by this Supplement). The Restricted Global Class A Notes, the
Temporary Global Class A Notes and the Permanent Global Class A Notes are collectively referred to as the &#8220;<U>Global Class A Notes</U>&#8221;,
the Restricted Global Class B Notes, the Temporary Global Class B Notes and the Permanent Global Class B Notes are collectively referred
to as the &#8220;<U>Global Class B Notes</U>&#8221;, the Restricted Global Class C Notes, the Temporary Global Class C Notes and the Permanent
Global Class C Notes are collectively referred to as the &#8220;<U>Global Class C Notes</U>&#8221;, the Restricted Global Class D Notes,
the Temporary Global Class D Notes and the Permanent Global Class D Notes are collectively referred to as the &#8220;<U>Global Class D
Notes</U>&#8221; and the Restricted Global Class R Notes, the Temporary Global Class R Notes and the Permanent Global Class R Notes are
collectively referred to as the &#8220;<U>Global Class R Notes</U>&#8221;.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE V<BR>
<BR>
GENERAL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Optional Repurchase</U>.</P>

<P STYLE="text-align: justify; text-indent: 1in; margin: 0"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Series 2022-3 Notes shall be subject to repurchase
by ABRCF at its option in accordance with Section 6.3 of the Base Indenture on any Distribution Date (any such Distribution Date, a &#8220;<U>Clean-up
Repurchase Distribution Date</U>&#8221;) after the Series 2022-3 Invested Amount is reduced to an amount less than or equal to 10% of
the sum of the Class A Initial Invested Amount, the Class B Initial Invested Amount, the Class C Initial Invested Amount, the Class D
Initial Invested Amount, the initial invested amount of the Class E Notes (if issued), the Class R Initial Invested Amount and the aggregate
principal amount of any Additional Class R Notes (the &#8220;<U>Series 2022-3 Repurchase Amount</U>&#8221;). The repurchase price for
any Series 2022-3 Note subject to a Clean-up Repurchase shall equal the aggregate outstanding principal balance of such Series 2022-3
Note (determined after giving effect to any payments of principal and interest on such Distribution Date), <U>plus</U> accrued and unpaid
interest on such outstanding principal balance.</FONT></P>

<P STYLE="text-align: justify; text-indent: 1in; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Series 2022-3 Notes
shall also be subject to repurchase at the election of the ABRCF in accordance with Section 6.3 of the Base Indenture, in whole but not
in part, on any Distribution Date (any such Distribution Date, an &#8220;<U>Optional Repurchase Distribution Date</U>&#8221;) that occurs
prior to the earlier to occur of (x) the commencement of the Series 2022-3 Rapid Amortization Period and (y) the Clean-up Repurchase
Distribution Date (any such repurchase, an &#8220;<U>Optional Repurchase</U>&#8221;). The repurchase price for any Series 2022-3 Note
subject to an Optional Repurchase shall equal (1) the aggregate outstanding principal balance of such Series 2022-3</FONT></P>


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<P STYLE="text-align: justify; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">Note (determined after giving effect to any payments made pursuant to Section 2.5(a)
on such Distribution Date), <U>plus</U> (2) accrued and unpaid interest on such outstanding principal balance (determined after giving
effect to any payments made pursuant to Section 2.4 on such Distribution Date) <U>plus</U> (3) the Make Whole Payment with respect to
such Series 2022-3 Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Information</U>. The Trustee shall provide to the Series 2022-3 Noteholders, or their designated agent, copies of all information
furnished to the Trustee or ABRCF pursuant to the Related Documents, as such information relates to the Series 2022-3 Notes or the Series
2022-3 Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exhibits</U>. The following exhibits attached hereto supplement the exhibits included in the Base Indenture.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD STYLE="width: 15%"><FONT STYLE="font-size: 10pt"><U>Exhibit A-1</U>:</FONT></TD>
    <TD STYLE="width: 75%"><FONT STYLE="font-size: 10pt">Form of Restricted Global Class A Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit A-2</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Temporary Global Class A Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit A-3</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Permanent Global Class A Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit B-1</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Restricted Global Class B Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit B-2</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Temporary Global Class B Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit B-3</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Permanent Global Class B Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit C-1</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Restricted Global Class C Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit C-2</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Temporary Global Class C Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit C-3</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Permanent Global Class C Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit D-1</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Restricted Global Class D Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit D-2</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Temporary Global Class D Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit D-3</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Permanent Global Class D Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit E-1</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Restricted Global Class R Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit E-2</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Temporary Global Class R Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit E-3</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Permanent Global Class R Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit F</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Series 2022-3 Demand Note</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit G</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Letter of Credit</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit H</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Lease Payment Deficit Notice</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit I</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Demand Notice</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit J</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Supplemental Indenture No. 4 to the Base Indenture</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit K</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the AESOP I Operating Lease</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit L</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the Finance Lease</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit M:</U></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the AESOP I Operating Lease Loan Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit N:</U></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the AESOP I Finance Lease Loan Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit O</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the AESOP II Operating Lease</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit P</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to Master Exchange Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit Q</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the Escrow Agreement</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD STYLE="width: 15%"><U>Exhibit R</U>:</TD>
    <TD STYLE="width: 75%">Form of Amendment to Administration Agreement</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit S-1</U>:</TD>
    <TD>Form of Transfer Certificate for Class D Notes (Transferee)</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit S-2</U>:</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Form of Transfer Certificate for Class D Notes (Transferor)</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">Section 5.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Ratification of Base Indenture</U>. As supplemented by this Supplement, the Base Indenture is in all respects ratified and confirmed
and the Base Indenture as so supplemented by this Supplement shall be read, taken, and construed as one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts</U>. This Supplement may be executed in any number of counterparts, each of which so executed shall be deemed to
be an original, but all of such counterparts shall together constitute but one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law</U>. This Supplement shall be construed in accordance with the law of the State of New York, and the obligations,
rights and remedies of the parties hereto shall be determined in accordance with such law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendments</U>. This Supplement may be modified or amended from time to time in accordance with the terms of the Base Indenture;
<U>provided</U>, <U>however</U>, that if, pursuant to the terms of the Base Indenture or this Supplement, the consent of the Required
Noteholders is required for an amendment or modification of this Supplement or any other Related Document, such requirement shall be
satisfied if such amendment or modification is consented to by the Requisite Series 2022-3 Noteholders; <U>provided</U>, <U>further</U>,
that, (A) so long as (i) no Amortization Event has occurred and is continuing and (ii) the Rating Agency Consent Condition is met with
respect to the outstanding Series 2022-3 Notes, ABRCF shall be able to either (x) increase any of the Series 2022-3 Maximum Amounts (other
than the Series 2022-3 Maximum Non-Program Vehicle Amount or the Series 2022-3 Maximum Non-Perfected Vehicle Amount) by an amount not
to exceed 10% (or, in the case of the Series 2022-3 Maximum Tesla Amount, an amount not to exceed 15%) of the aggregate Net Book Value
of all Vehicles leased under the Leases or (y) include a new Series 2022-3 Maximum Amount and related amendments for any Manufacturer
that becomes an Eligible Non-Program Manufacturer or Eligible Program Manufacturer after the Series 2022-3 Closing Date, in each case,
at any time without the consent of the Series 2022-3 Noteholders, (B) ABRCF shall be able to modify or amend any Series 2022-3 Maximum
Amount at any time with the consent of a Requisite Series 2022-3 Noteholders and (C) ABRCF may amend or modify the terms of this Supplement
without the consent of any Series 2022-3 Noteholders to clarify that no interest has accrued with respect to the Class D Notes and no
Class D Monthly Interest is due with respect to the Class D Notes for so long as ABRCF retains 100% of the Class D Notes; <U>provided</U>,
<U>further</U>, that, notwithstanding anything in this Section 5.7 or Article 8 or Article 12 of the Base Indenture to the contrary,
this Supplement and any Related Documents relating solely to the Series 2022-3 Notes may be amended to provide for the issuance of any
Class E Notes or Additional Class R Notes in accordance with Section 5.15 without the consent of any Class A Noteholder, any Class B
Noteholder, any Class C Noteholder, any Class D Noteholder or any Class R Noteholder.</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Discharge of Base Indenture</U></font>. Notwithstanding
anything to the contrary contained in the Base Indenture, no discharge of the Indenture pursuant to Section 11.1(b) of the Base Indenture
will be effective as to the Series 2022-3 Notes without the consent of the Requisite Series 2022-3 Noteholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice to Rating Agencies</U>. The Trustee shall provide to each Rating Agency a copy of (x) each notice, opinion of counsel,
certificate or other item delivered to, or required to be provided by, the Trustee pursuant to this Supplement or any other Related Document
and (y) any amendment or modification hereto pursuant to this Supplement or any other Related Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Capitalization of ABRCF</U>. ABRCF agrees that on the Series 2022-3 Closing Date it will have capitalization in an amount equal
to or greater than 3% of the sum of (x) the Series 2022-3 Invested Amount and (y) the invested amount of the Series 2010-6 Notes, the
Series 2011-4 Notes, the Series 2015-3 Notes, the 2017-1 Notes, the 2017-2 Notes, the 2018-1 Notes, the Series 2018-2 Notes, the Series
2019-2 Notes, the Series 2019-3 Notes, the Series 2020-1 Notes, the Series 2020-2 Notes, the Series 2021-1 Notes, the Series 2021-2 Notes,
the Series 2022-1 Notes, the Series 2022-2 Notes and the Series 2022-4 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Required Noteholders</U>. Subject to Section 5.7 above, any action pursuant to Section 5.6, Section 8.13 or Article 9 of the
Base Indenture that requires the consent of, or is permissible at the direction of, the Required Noteholders with respect to the Series
2022-3 Notes pursuant to the Base Indenture shall only be allowed with the consent of, or at the direction of, the Required Controlling
Class Series 2022-3 Noteholders. Any other action pursuant to any Related Document which requires the consent or approval of, or the waiver
by, the Required Noteholders with respect to the Series 2022-3 Notes shall require the consent or approval of, or waiver by, the Requisite
Series 2022-3 Noteholders; <U>provided</U>, <U>however</U>, that, notwithstanding anything in this Section 5.11 or Article 8 or Article
12 of the Base Indenture to the contrary, any Related Document relating solely to the Series 2022-3 Notes may be amended to provide for
the issuance of any Class E Notes or Additional Class R Notes in accordance with Section 5.15 without the consent of any Class A Noteholder,
any Class B Noteholder, any Class&nbsp;C Noteholder, any Class D Noteholder or any Class R Noteholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-3 Demand Notes</U>. Other than pursuant to a demand thereon pursuant to Section&nbsp;2.5, ABRCF shall not reduce
the amount of the Series 2022-3 Demand Notes or forgive amounts payable thereunder so that the outstanding principal amount of the Series
2022-3 Demand Notes after such reduction or forgiveness is less than the Series 2022-3 Allocated Multi-Series Letter of Credit Liquidity
Amount. ABRCF shall not agree to any amendment of the Series 2022-3 Demand Notes without first satisfying the Rating Agency Confirmation
Condition and the Rating Agency Consent Condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Supplement</U>. This Supplement shall cease to be of further effect when all outstanding Series 2022-3 Notes
theretofore authenticated and issued have been delivered (other than destroyed, lost, or stolen Series 2022-3 Notes which have been replaced
or paid) to the Trustee for cancellation, ABRCF has paid all sums payable hereunder, and, if the Series 2022-3 Demand Note Payment Amount
on the Multi-Series Letter of Credit</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Termination Date was greater than zero, all
amounts have been withdrawn from the Series 2022-3 Cash Collateral Account in accordance with Section 2.8(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Noteholder Consent to Certain Amendments</U>. Each Series 2022-3 Noteholder, upon any acquisition of a Series 2022-3 Note, will
be deemed to agree and consent to (i) the execution by ABRCF of a Supplemental Indenture to the Base Indenture substantially in the form
of <U>Exhibit J</U> hereto, (ii) the execution of an amendment to the AESOP I Operating Lease substantially in the form of <U>Exhibit
K</U> hereto, (iii) the execution of an amendment to the Finance Lease substantially in the form of <U>Exhibit L</U> hereto, (iv) the
execution of an amendment to the AESOP I Operating Lease Loan Agreement substantially in the form of <U>Exhibit M</U> hereto, (v) the
execution of an amendment to the AESOP I Finance Lease Loan Agreement substantially in the form of <U>Exhibit N</U> hereto, (vi) the execution
of an amendment to the AESOP II Operating Lease substantially in the form of <U>Exhibit O</U> hereto, (vii) the execution of an amendment
to the Master Exchange Agreement substantially in the form of <U>Exhibit P</U> hereto, (viii) the execution of an amendment to the Escrow
Agreement substantially in the form of <U>Exhibit Q</U> hereto and (ix) the execution of an amendment to the Administration Agreement
substantially in the form of <U>Exhibit R</U> hereto. Such deemed consent will apply to each proposed amendment set forth in <U>Exhibits
J</U>, <U>K</U>, <U>L</U>, <U>M</U>, <U>N</U>, <U>O</U>, <U>P</U>, <U>Q</U> and <U>R</U> individually, and the failure to adopt any of
the amendments set forth therein will not revoke the consent with respect to any other amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Issuance of Class E Notes and Additional Class R Notes</U>. No Class&nbsp;E Notes shall be issued on the Series 2022-3 Closing
Date. On any date during the Series 2022-3 Revolving Period, ABRCF may (i) issue Class E Notes and (ii) issue additional Class R Notes
in connection with the issuance of Class E Notes, to the extent that ABRCF determines such issuance is required to comply with the U.S.
Risk Retention Rules (such notes, the &#8220;<U>Additional Class R Notes</U>&#8221;), subject to satisfaction of the following conditions
precedent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>ABRCF and the Trustee shall have entered into an amendment to this Supplement (i) providing that the Class E Notes will bear a
fixed rate of interest, determined on or prior the Additional Notes Closing Date, (ii) providing that the expected final payment date
for the Class E Notes will be the Series 2022-3 Expected Final Distribution Date, (iii) providing that the principal amount of the Class
E Notes will be due and payable on the Series 2022-3 Final Distribution Date, (iv) providing that the controlled amortization period with
respect to the Class&nbsp;E Notes will be the Series 2022-3 Controlled Amortization Period and (v) providing for payment mechanics with
respect to the Class E Notes substantially similar to those with respect to the Class A Notes, the Class B Notes, the Class C Notes and
the Class D Notes (other than as set forth below) and consistent with Section 2.12 and such other provisions with respect to the Class
E Notes and the Additional Class R Notes as may be required for such issuance;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received a Company Request at least two (2) Business Days (or such shorter time as is acceptable to the
Trustee) in advance of the proposed closing date for the issuance of the Class E Notes and the Additional Class R Notes (if any) (the
&#8220;<U>Additional Notes Closing Date</U>&#8221;) requesting that the Trustee authenticate and deliver the Class&nbsp;E Notes specified
in such Company Request (such specified Class E Notes, the &#8220;<U>Proposed Class E Notes</U>&#8221;) and the Additional Class R Notes,
if any, specified in such Company Request;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> The Trustee shall have received a Company Order authorizing and directing the authentication and delivery of the Proposed Class
E Notes and the Additional Class&nbsp;R Notes, if any, by the Trustee and specifying the designation of the Proposed Class E Notes, the
initial aggregate principal amount of the Proposed Class E Notes to be authenticated, the Note Rate with respect to the Proposed Class
E Notes and the initial aggregate principal amount of the Additional Class R Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received written confirmation that the Rating Agency Confirmation Condition shall have been satisfied with
respect to the issuance of the Proposed Class E Notes and Additional Class R Notes (if any) (including with respect to the Class A Notes,
the Class B Notes, the Class C Notes and the Class D Notes);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received an Officer&#8217;s Certificate of ABRCF dated as of the Additional Notes Closing Date to the effect
that (i) no Amortization Event with respect to the Series 2022-3 Notes, Aggregate Asset Amount Deficiency, Series 2022-3 Enhancement Deficiency,
Loan Event of Default, AESOP I Operating Lease Vehicle Deficiency, Manufacturer Event of Default, Lease Event of Default, Potential Amortization
Event with respect to the Series 2022-3 Notes, Potential Loan Event of Default, Potential Lease Event of Default, or Potential Manufacturer
Event of Default is continuing or will occur as a result of the issuance of the Proposed Class E Notes and Additional Class R Notes (if
any), (ii) the issuance of the Proposed Class E Notes and Additional Class R Notes (if any) will not result in any breach of any of the
terms, conditions or provisions of or constitute a default under any indenture, mortgage, deed of trust or other agreement or instrument
to which ABRCF is a party or by which it or its property is bound or any order of any court or administrative agency entered in any suit,
action or other judicial or administrative proceeding to which ABRCF is a party or by which it or its property may be bound or to which
it or its property may be subject, (iii) all conditions precedent provided in this Supplement and the Base Indenture with respect to the
authentication and delivery of the Proposed Class E Notes and Additional Class R Notes (if any) have been complied with and (iv) the issuance
of the Proposed Class E Notes and Additional Class R Notes (if any) and any related amendments to this Supplement and any Related Document
relating solely to the Series 2022-3 Notes will not reduce the availability of the Series 2022-3 Enhancement to support the payment of
interest on or principal of the Class A Notes, the Class B Notes, the Class C Notes or the Class D Notes in any material respect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No amendments to this Supplement or any Related Document relating solely to the Series 2022-3 Notes in connection with the issuance
of the Proposed Class E Notes and the Additional Class R Notes, if any, may provide for (i) the application of the amount allocated to
the Series 2022-3 Notes and available under the Multi-Series Letters of Credit or the Series 2022-3 Reserve Account to support the payment
of interest on or principal of the Class E Notes while any Class A Notes, Class B Notes, Class C Notes or Class D Notes remain outstanding,
(ii) any voting rights in respect of the Class E Notes for so long as any Class A Notes, Class B Notes, Class C Notes, Class D Notes or
Class R Notes are outstanding, other than with respect to any amendments to the Indenture or any Related Document pursuant to clauses
(i) and (ii) of Section 12.2 of the Base Indenture, (iii) the addition of any Amortization Event with respect to the Series 2022-3 Notes
other than those related to payment defaults on the Class E Notes similar to those in respect of the Class A Notes, the Class B Notes,
the Class C Notes, the Class D Notes or the Class R Notes and enhancement or liquidity deficiencies in respect of</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">the credit enhancement supporting the Class
E Notes similar to those in respect of the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes or (iv) the reallocation
of Principal Collections allocable to the Series 2022-3 Notes to pay interest on the Class E Notes while the Class A Notes, Class B Notes,
Class C Notes or the Class D Notes remain outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received opinions of counsel substantially similar to those received in connection with the offering and
sale of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class R Notes, including, without limitation,
opinions to the effect that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(x) the Proposed Class E Notes should be treated as indebtedness of ABRCF for federal and New York state income tax purposes, (y)
the issuance of the Proposed Class E Notes and Additional Class R Notes (if any) will not result in any of the Class A Notes, the Class
B Notes, the Class C Notes, the Class D Notes (to the extent the Class D Notes are characterized as debt for federal or New York state
income tax purposes) or any other outstanding Series of Notes (excluding the Class R Notes and any other Series identified as &#8220;Class
R&#8221;) failing to be characterized as debt for federal or New York state income tax purposes and (z) the issuance of the Proposed Class
E Notes will not impact the treatment of ABRCF as a partnership for U.S. federal income tax purposes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>all
conditions precedent provided for in the Base Indenture and this Supplement with respect to the authentication and delivery of the Proposed
Class E Notes and Additional Class R Notes (if any) has been complied with in all material respects; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>the
Proposed Class E Notes and Additional Class R Notes (if any) have been duly authorized and executed and, when authenticated and delivered
in accordance with the provisions of the Base Indenture and this Supplement, will constitute valid, binding and enforceable obligations
of ABRCF entitled to the benefits of the Base Indenture and this Supplement, subject, in the case of enforcement, to bankruptcy, insolvency,
reorganization, moratorium and other similar laws affecting creditors&#8217; rights generally and to general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Confidential Information</U>.</P>

<P STYLE="text-align: justify; margin: 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Trustee and each Series 2022-3 Note Owner agrees,
by its acceptance and holding of a beneficial interest in a Series 2022-3 Note, to maintain the confidentiality of all Confidential Information
in accordance with procedures adopted by the Trustee or such Series 2022-3 Note Owner in good faith to protect confidential information
of third parties delivered to such Person; <U>provided</U>, <U>however</U>, that such Person may deliver or disclose Confidential Information
to: (i) such Person&#8217;s directors, trustees, officers, employees, agents, attorneys, independent or internal auditors and affiliates
who agree to hold confidential the Confidential Information substantially in accordance with the terms of this Section 5.16; (ii) such
Person&#8217;s financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially
in accordance with the terms of this Section 5.16; (iii) any other Series 2022-3 Note Owner; (iv) any Person of the type that would be,
to such Person&#8217;s knowledge,</FONT></P>

<P STYLE="margin: 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="text-align: justify; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">permitted to acquire an interest in the Series 2022-3 Notes in accordance with the
requirements of the Indenture to which such Person sells or offers to sell any such Series 2022-3 Note or any part thereof and that agrees
to hold confidential the Confidential Information substantially in accordance with this Section 5.16 (or in accordance with such other
confidentiality procedures as are acceptable to ABRCF); (v) any federal or state or other regulatory, governmental or judicial authority
having jurisdiction over such Person; (vi)&nbsp;the National Association of Insurance Commissioners or any similar organization, or any
nationally recognized rating agency that requires access to information about the investment portfolio of such Person, (vii) any reinsurers
or liquidity or credit providers that agree to hold confidential the Confidential Information substantially in accordance with this Section
5.16 (or in accordance with such other confidentiality procedures as are acceptable to ABRCF); (viii) any other Person with the consent
of ABRCF; or (ix) any other Person to which such delivery or disclosure may be necessary or appropriate (A) to effect compliance with
any law, rule, regulation, statute or order applicable to such Person, (B) in response to any subpoena or other legal process upon prior
notice to ABRCF (unless prohibited by applicable law, rule, order or decree or other requirement having the force of law), (C) in connection
with any litigation to which such Person is a party upon prior notice to ABRCF (unless prohibited by applicable law, rule, order or decree
or other requirement having the force of law) or (D)&nbsp;if an Amortization Event with respect to the Series 2022-3 Notes has occurred
and is continuing, to the extent such Person may reasonably determine such delivery and disclosure to be necessary or appropriate in
the enforcement or for the protection of the rights and remedies under the Series 2022-3 Notes, the Indenture or any other Related Document;
<U>provided</U>, <U>further</U>, that delivery to any Series 2022-3 Note Owner of any report or information required by the terms of
the Indenture to be provided to such Series 2022-3 Note Owner shall not be a violation of this Section 5.16. Each Series 2022-3 Note
Owner agrees, by acceptance of a beneficial interest in a Series 2022-3 Note, except as set forth in clauses (v), (vi) and (ix) above,
that it shall use the Confidential Information for the sole purpose of making an investment in the Series 2022-3 Notes or administering
its investment in the Series 2022-3 Notes. In the event of any required disclosure of the Confidential Information by such Series 2022-3
Note Owner, such Series 2022-3 Note Owner agrees to use reasonable efforts to protect the confidentiality of the Confidential Information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For the purposes of this Section 5.16, &#8220;<U>Confidential Information</U>&#8221; means information delivered to the Trustee
or any Series 2022-3 Note Owner by or on behalf of ABRCF in connection with and relating to the transactions contemplated by or otherwise
pursuant to the Indenture and the Related Documents; <U>provided</U>, <U>however</U>, that such term does not include information that:
(i) was publicly known or otherwise known to the Trustee or such Series 2022-3 Note Owner prior to the time of such disclosure; (ii) subsequently
becomes publicly known through no act or omission by the Trustee, any Series 2022-3 Note Owner or any person acting on behalf of the Trustee
or any Series 2022-3 Note Owner; (iii) otherwise is known or becomes known to the Trustee or any Series 2022-3 Note Owner other than (x)
through disclosure by ABRCF or (y) as a result of the breach of a fiduciary duty to ABRCF or a contractual duty to ABRCF; or (iv) is allowed
to be treated as non&#45;confidential by consent of ABRCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Capitalized Cost Covenant</U>. ABRCF hereby agrees that it shall not permit the aggregate Capitalized Cost for all Vehicles
purchased in any model year that are not subject to a Manufacturer Program to exceed 85% of the aggregate MSRP (Manufacturer</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Suggested Retail Price) of all such Vehicles;
<U>provided</U>, <U>however</U>, that ABRCF shall not&nbsp;modify the customary buying patterns or purchasing criteria used by the Administrator
and its Affiliates with respect to the Vehicles if the primary purpose of such&nbsp;modification is&nbsp;to comply with this covenant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Further Limitation of Liability</U>. Notwithstanding anything in this Supplement to the contrary, in no event shall the Trustee
or its directors, officers, agents or employees be liable under this Supplement for special, indirect, punitive or consequential loss
or damage of any kind whatsoever (including, but not limited to, lost profits), even if the Trustee or its directors, officers, agents
or employees have been advised of the likelihood of such loss or damage and regardless of the form of action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Series 2022-3 Agent</U>. The Series 2022-3 Agent shall be entitled to the same rights, benefits, protections, indemnities and
immunities hereunder as are granted to the Trustee under the Base Indenture as if set forth fully herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.20.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Force Majeure</U>. In no event shall the Trustee be liable for any failure or delay in the performance of its obligations under
this Supplement because of circumstances beyond the Trustee&#8217;s control, including, but not limited to, a failure, termination, suspension
of a clearing house, securities depositary, settlement system or central payment system in any applicable part of the world or acts of
God, flood, war (whether declared or undeclared), civil or military disturbances or hostilities, nuclear or natural catastrophes, political
unrest, explosion, severe weather or accident, earthquake, terrorism, fire, riot, labor disturbances, strikes or work stoppages for any
reason, embargo, government action, including any laws, ordinances, regulations or the like (whether domestic, federal, state, county
or municipal or foreign) which delay, restrict or prohibit the providing of the services contemplated by this Supplement, or the unavailability
of communications or computer facilities, the failure of equipment or interruption of communications or computer facilities, or the unavailability
of the Federal Reserve Bank wire or telex or other wire or communication facility, or any other causes beyond the Trustee&#8217;s control
whether or not of the same class or kind as specified above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.21.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Waiver of Jury Trial, etc</U>. EACH OF THE PARTIES HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT
PERMITTED BY APPLICABLE LAW) ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER,
OR IN CONNECTION WITH, THIS SUPPLEMENT, THE SERIES 2022-3 NOTES, THE SERIES 2022-3 DEMAND NOTES, THE MULTI-SERIES LETTER OF CREDIT AND
ANY OTHER RELATED DOCUMENTS EXECUTED IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2022-3 NOTES, OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTIONS OF THE PARTIES HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PARTIES HERETO
TO ENTER INTO THIS SUPPLEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.22.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Submission to Jurisdiction</U>. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY SUBMITS (TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW) TO THE NON-EXCLUSIVE JURISDICTION OF ANY NEW YORK STATE OR FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN, NEW</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">YORK CITY, STATE OF NEW YORK, OVER ANY ACTION
OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENT, THE SERIES 2022-3 NOTES, THE SERIES 2022-3 DEMAND NOTES, THE MULTI-SERIES
LETTER OF CREDIT AND ANY OTHER RELATED DOCUMENTS EXECUTED IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2022-3 NOTES AND EACH OF THE PARTIES
HERETO HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK
STATE OR FEDERAL COURT. EACH OF THE PARTIES HERETO EACH HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION
EACH MAY NOW OR HEREAFTER HAVE, TO THE LAYING OF VENUE IN ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT AS WELL AS ANY RIGHT EACH MAY
NOW OR HEREAFTER HAVE, TO REMOVE ANY SUCH ACTION OR PROCEEDING, ONCE COMMENCED, TO ANOTHER COURT ON THE GROUNDS OF <U>FORUM NON CONVENIENS</U>
OR OTHERWISE. NOTHING CONTAINED HEREIN SHALL PRECLUDE ANY PARTY HERETO FROM BRINGING AN ACTION OR PROCEEDING ARISING OUT OF OR RELATING
TO THIS SUPPLEMENT, THE SERIES 2022-3 NOTES, THE SERIES 2022-3 DEMAND NOTES, THE MULTI-SERIES LETTER OF CREDIT AND ANY OTHER RELATED DOCUMENTS
EXECUTED IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2022-3 NOTES IN ANY OTHER COUNTRY, STATE OR PLACE HAVING JURISDICTION OVER SUCH
ACTION OR PROCEEDING.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.23.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Additional Terms of the Series 2022-3 Notes.</U> Solely with respect to this Supplement and the Series 2022-3 Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Opinion of Counsel set forth in Section 2.2(f)(i)(x) of the Base Indenture shall not be required with respect to the Class D Notes or
the Class R Notes. The Opinion of Counsel set forth in Section 2.2(f)(i)(y) of the Base Indenture shall not be required with respect to
the Class D Notes or the Class R Notes for any Series issued after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The terms Rating Agency Confirmation Condition and Rating Agency Consent Condition shall be deemed to be satisfied with respect
to Fitch if ABRCF notifies Fitch of the applicable action at least ten (10) calendar days prior to such action (or, if Fitch agrees to
less than ten (10) calendar days&#8217; notice, such lesser period) and Fitch has not notified ABRCF and the Trustee in writing that such
action will result in a reduction or withdrawal of the rating given to the Class A Notes, the Class B Notes or the Class C Notes by Fitch
within such ten (10) calendar day (or lesser) period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The transfer by a transferor (a &#8220;<U>Transferor</U>&#8221;) holding a beneficial interest in a Global Class D Note to a subsequent
transferee (a &#8220;<U>Transferee</U>&#8221;) who wishes to take delivery thereof in the form of a beneficial interest in such Global
Class D Note will be made upon receipt by the Trustee, at the office of the Trustee, of (x) a transfer certificate from the Transferee
substantially in the form of <U>Exhibit S-1</U> (unless the Transferee is (i) ABRCF in its capacity as initial Holder of Class D Notes
or (ii) an Initial Purchaser, in which case no such transfer certificate under this clause (x) will be required) and (y) a transfer certificate
from the Transferor substantially in the form of <U>Exhibit S-2</U> (unless the Transferor is an Initial Purchaser or transferring 100%
of its ownership interests in the Class D Notes to a single beneficial owner, in which case no such transfer certificate under this clause
(y) will be required). Delivery of any</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">such certificate to ABRCF shall be required
to be delivered to the email address set forth in <U>Exhibits S-1</U> and <U>S-2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, ABRCF
and the Trustee have caused this Supplement to be duly executed by their respective officers thereunto duly authorized as of the day
and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">AVIS BUDGET RENTAL CAR FUNDING
(AESOP) LLC</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="vertical-align: top; width: 35%">/s/  David Calabria</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Name:  David Calabria<BR>Title: Senior Vice President and Treasurer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><I>Signature
Page to AESOP 2022-3 Indenture Supplement</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in"></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Trustee</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="vertical-align: top; width: 35%">/s/   Vassilena Ouzounova</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: #000000 1px solid; vertical-align: top">Name:   Vassilena Ouzounova<BR>Title: Vice President</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in"></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Series 2022-3 Agent</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="vertical-align: top; width: 35%">/s/   Vassilena Ouzounova</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: #000000 1px solid; vertical-align: top">Name:   Vassilena Ouzounova<BR>Title: Vice President</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><I>Signature
Page to AESOP 2022-3 Indenture Supplement</I></FONT></P>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>eh220272511_ex1002.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>EXHIBIT 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>EXECUTION
VERSION</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">AVIS BUDGET RENTAL CAR FUNDING (AESOP) LLC,<BR>
as Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,<BR>
as Trustee and Series 2022-4 Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">SERIES 2022-4 SUPPLEMENT<BR>
dated as of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">July 21, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center">SECOND AMENDED AND RESTATED BASE INDENTURE<BR>
dated as of June 3, 2004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_____________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-4 4.77% Rental Car Asset Backed Notes,
Class A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-4 5.46% Rental Car Asset Backed Notes,
Class B</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-4 6.68% Rental Car Asset Backed Notes,
Class C</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-4 8.61% Rental Car Asset Backed Notes,
Class D</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Series 2022-4 9.585% Rental Car Asset Backed Notes,
Class R</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>TABLE OF CONTENTS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right"><U>Page</U></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE I DEFINITIONS</TD>
    <TD STYLE="text-align: right">2</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE II SERIES 2022-4 ALLOCATIONS</TD>
    <TD STYLE="text-align: right">29</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left; width: 15%">Section 2.1.</TD>
    <TD STYLE="text-align: left; width: 80%">Establishment of Series 2022-4 Collection Account, Series 2022-4 Excess Collection Account and Series 2022-4 Accrued Interest Account</TD>
    <TD STYLE="text-align: right; width: 5%">29</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.2.</TD>
    <TD STYLE="text-align: left">Allocations with Respect to the Series 2022-4 Notes</TD>
    <TD STYLE="text-align: right">29</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.3.</TD>
    <TD STYLE="text-align: left">Payments to Noteholders</TD>
    <TD STYLE="text-align: right">34</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.4.</TD>
    <TD STYLE="text-align: left">Payment of Note Interest</TD>
    <TD STYLE="text-align: right">38</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.5.</TD>
    <TD STYLE="text-align: left">Payment of Note Principal</TD>
    <TD STYLE="text-align: right">38</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.6.</TD>
    <TD STYLE="text-align: left">Administrator&#8217;s Failure to Instruct the Trustee to Make a Deposit, Draw or Payment</TD>
    <TD STYLE="text-align: right">43</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.7.</TD>
    <TD STYLE="text-align: left">Series 2022-4 Reserve Account</TD>
    <TD STYLE="text-align: right">44</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.8.</TD>
    <TD STYLE="text-align: left">Multi-Series Letters of Credit and Series 2022-4 Cash Collateral Account</TD>
    <TD STYLE="text-align: right">46</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.9.</TD>
    <TD STYLE="text-align: left">Series 2022-4 Distribution Account</TD>
    <TD STYLE="text-align: right">50</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.10.</TD>
    <TD STYLE="text-align: left">Series 2022-4 Accounts Permitted Investments</TD>
    <TD STYLE="text-align: right">52</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.11.</TD>
    <TD STYLE="text-align: left">Series 2022-4 Demand Notes Constitute Additional Collateral for Series 2022-4 Senior Notes</TD>
    <TD STYLE="text-align: right">52</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 2.12.</TD>
    <TD STYLE="text-align: left">Subordination of the Class B Notes, Class C Notes, Class D Notes, Class E Notes and the Class R Notes</TD>
    <TD STYLE="text-align: right">53</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE III AMORTIZATION EVENTS</TD>
    <TD STYLE="text-align: right">55</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE IV FORM OF SERIES 2022-4 NOTES</TD>
    <TD STYLE="text-align: right">56</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 4.1.</TD>
    <TD STYLE="text-align: left">Restricted Global Series 2022-4 Notes</TD>
    <TD STYLE="text-align: right">56</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 4.2.</TD>
    <TD STYLE="text-align: left">Temporary Global Series 2022-4 Notes; Permanent Global Series 2022-4 Notes</TD>
    <TD STYLE="text-align: right">56</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD COLSPAN="2" STYLE="text-align: left">ARTICLE V GENERAL</TD>
    <TD STYLE="text-align: right">57</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.1.</TD>
    <TD STYLE="text-align: left">Optional Repurchase</TD>
    <TD STYLE="text-align: right">57</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.2.</TD>
    <TD STYLE="text-align: left">Information</TD>
    <TD STYLE="text-align: right">58</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.3.</TD>
    <TD STYLE="text-align: left">Exhibits</TD>
    <TD STYLE="text-align: right">58</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.4.</TD>
    <TD STYLE="text-align: left">Ratification of Base Indenture</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.5.</TD>
    <TD STYLE="text-align: left">Counterparts</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.6.</TD>
    <TD STYLE="text-align: left">Governing Law</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.7.</TD>
    <TD STYLE="text-align: left">Amendments</TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.8.</TD>
    <TD STYLE="text-align: left">Discharge of Base Indenture</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.9.</TD>
    <TD STYLE="text-align: left">Notice to Rating Agencies</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.10.</TD>
    <TD STYLE="text-align: left">Capitalization of ABRCF</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.11.</TD>
    <TD STYLE="text-align: left">Required Noteholders</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.12.</TD>
    <TD STYLE="text-align: left">Series 2022-4 Demand Notes</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.13.</TD>
    <TD STYLE="text-align: left">Termination of Supplement</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.14.</TD>
    <TD STYLE="text-align: left">Noteholder Consent to Certain Amendments</TD>
    <TD STYLE="text-align: right">61</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.15.</TD>
    <TD STYLE="text-align: left">Issuance of Class E Notes and Additional Class R Notes</TD>
    <TD STYLE="text-align: right">61</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.16.</TD>
    <TD STYLE="text-align: left">Confidential Information</TD>
    <TD STYLE="text-align: right">63</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="vertical-align: top; text-indent: 10pt; text-align: left">Section 5.17.</TD>
    <TD STYLE="text-align: left">Capitalized Cost Covenant</TD>
    <TD STYLE="text-align: right">64</TD></TR>
</TABLE>

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<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt"><U>Page</U></TD></TR>
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    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt; padding-left: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 0in; padding-bottom: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">&nbsp;</TD></TR>
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    <TD STYLE="width: 15%; text-align: left; text-indent: 10pt">Section 5.18.</TD>
    <TD STYLE="width: 80%; text-align: left">Further Limitation of Liability</TD>
    <TD STYLE="width: 5%; text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
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    <TD STYLE="text-align: left; text-indent: 10pt">Section 5.19.</TD>
    <TD STYLE="text-align: left">Series 2022-4 Agent</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; text-indent: 10pt">Section 5.20.</TD>
    <TD STYLE="text-align: left">Force Majeure</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 10pt">Section 5.21.</TD>
    <TD STYLE="text-align: left">Waiver of Jury Trial, etc</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: rgb(198,244,249)">
    <TD STYLE="text-align: left; text-indent: 10pt">Section 5.22.</TD>
    <TD STYLE="text-align: left">Submission to Jurisdiction</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">65</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 10pt">Section 5.23.</TD>
    <TD STYLE="text-align: left">Additional Terms of the Series 2022-4 Notes.</TD>
    <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0pt">66</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">SERIES 2022-4 SUPPLEMENT,
dated as of July 21, 2022 (this &#8220;<U>Supplement</U>&#8221;), among AVIS BUDGET RENTAL CAR FUNDING (AESOP) LLC, a special purpose
limited liability company established under the laws of Delaware (&#8220;<U>ABRCF</U>&#8221;), <FONT STYLE="text-transform: uppercase">The
Bank of New York Mellon Trust Company, N.A. (</FONT>formerly known as The Bank of New York), a limited purpose national banking association
with trust powers, as trustee (in such capacity, and together with its successors in trust thereunder as provided in the Base Indenture
referred to below, the &#8220;<U>Trustee</U>&#8221;), and <FONT STYLE="text-transform: uppercase">The Bank of New York Mellon Trust Company,
N.A. (</FONT>formerly known as The Bank of New York), as agent (in such capacity, the &#8220;<U>Series 2022-4 Agent</U>&#8221;) for the
benefit of the Series 2022-4 Noteholders, to the Second Amended and Restated Base Indenture, dated as of June 3, 2004, between ABRCF and
the Trustee (as amended, modified or supplemented from time to time, exclusive of Supplements creating a new Series of Notes, the &#8220;<U>Base
Indenture</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center"><B>PRELIMINARY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">WHEREAS, Sections 2.2 and
12.1 of the Base Indenture provide, among other things, that ABRCF and the Trustee may at any time and from time to time enter into a
supplement to the Base Indenture for the purpose of authorizing the issuance of one or more Series of Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">NOW, THEREFORE, the parties
hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center"><B>DESIGNATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">There is hereby created a
Series of Notes to be issued pursuant to the Base Indenture and this Supplement, and such Series of Notes shall be designated generally
as the &#8220;Series 2022-4 Rental Car Asset Backed Notes&#8221;. The Series 2022-4 Notes shall be issued in up to six Classes, the first
of which shall be known as the &#8220;Class A Notes&#8221;, the second of which shall be known as the &#8220;Class B Notes&#8221;, the
third of which shall be known as the &#8220;Class C Notes&#8221;, the fourth of which shall be known as the &#8220;Class D Notes&#8221;,
the fifth of which shall be known as the &#8220;Class R Notes&#8221; and the sixth of which, if issued, shall be known as the &#8220;Class
E Notes&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">On the Series 2022-4 Closing
Date, ABRCF shall issue (i) one tranche of Class A Notes, which shall be designated as the &#8220;Series 2022-4 4.77% Rental Car Asset
Backed Notes, Class A&#8221;, (ii) one tranche of Class B Notes, which shall be designated as the &#8220;Series 2022-4 5.46% Rental Car
Asset Backed Notes, Class B&#8221;, (iii) one tranche of Class C Notes, which shall be designated as the &#8220;Series 2022-4 6.68% Rental
Car Asset Backed Notes, Class C&#8221;, (iv)&nbsp;one tranche of Class D Notes, which shall be designated the &#8220;Series 2022-4 8.61%
Rental Car Asset Backed Notes, Class D&#8221; and (v)&nbsp;one tranche of Class R Notes, which shall be designated the &#8220;Series 2022-4
9.585% Rental Car Asset Backed Notes, Class R&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">Subsequent to the Series
2022-4 Closing Date, ABRCF may on any date during the Series 2022-4 Revolving Period offer and sell additional Series 2022-4 Notes subject
to the conditions set forth in Section 5.15. Such additional Series 2022-4 Notes, if issued, shall be designated as the &#8220;Series
2022-4 Rental Car Asset Backed Notes, Class E&#8221; and shall be referred to herein as the &#8220;Class E Notes&#8221;.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">The Class A Notes, Class
B Notes, Class C Notes, Class D Notes, Class E Notes, if issued, and Class R Notes collectively, constitute the Series 2022-4 Notes. The
Class B Notes shall be subordinated in right of payment to the Class A Notes, to the extent set forth herein. The Class C Notes shall
be subordinated in right of payment to the Class A Notes and Class B Notes, to the extent set forth herein. The Class D Notes shall be
subordinated in right of payment to the Class A Notes, Class B Notes and Class C Notes, to the extent set forth herein. The Class&nbsp;E
Notes, if issued, shall be subordinated in right of payment to the Class A Notes, Class B Notes, Class C Notes and Class D Notes, to the
extent set forth herein. The Class R Notes shall be subordinated to the Class A Notes, the Class B Notes, the Class C Notes, the Class
D Notes and (if issued) the Class E Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">The proceeds from the sale
of the Class A Notes, Class B Notes, Class C Notes, Class D Notes and Class R Notes shall be deposited in the Collection Account and shall
be deemed to be Principal Collections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">The Series 2022-4 Notes are
a non&#45;Segregated Series of Notes (as more fully described in the Base Indenture). Accordingly, all references in this Supplement to
&#8220;all&#8221; Series of Notes (and all references in this Supplement to terms defined in the Base Indenture that contain references
to &#8220;all&#8221; Series of Notes) shall refer to all Series of Notes other than Segregated Series of Notes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE I<BR>
<BR>
DEFINITIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
capitalized terms not otherwise defined herein are defined in the Definitions List attached to the Base Indenture as Schedule I thereto.
All Article, Section, Subsection or Exhibit references herein shall refer to Articles, Sections, Subsections or Exhibits of this Supplement,
except as otherwise provided herein. Unless otherwise stated herein, as the context otherwise requires or if such term is otherwise defined
in the Base Indenture, each capitalized term used or defined herein shall relate only to the Series 2022-4 Notes and not to any other
Series of Notes issued by ABRCF. In the event that a term used herein shall be defined both herein and in the Base Indenture, the definition
of such term herein shall govern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following words and phrases shall have the following meanings with respect to the Series 2022-4 Notes and the definitions of such terms
are applicable to the singular as well as the plural form of such terms and to the masculine as well as the feminine and neuter genders
of such terms:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>ABCR</U>&#8221;
means Avis Budget Car Rental, LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Additional Class
R Notes</U>&#8221; has the meaning set forth in Section 5.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Additional Notes
Closing Date</U>&#8221; has the meaning set forth in Section 5.15.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Adjusted Net Book
Value</U>&#8221; means, as of any date of determination, with respect to each Adjusted Program Vehicle as of such date, the product of
0.965 and the Net Book Value of such Adjusted Program Vehicle as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Applicable Distribution
Date</U>&#8221; means each Distribution Date occurring after the later of (i) the Optional Repurchase Distribution Date and (ii) the first
Distribution Date occurring during the Series 2022-4 Controlled Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Business Day</U>&#8221;
means any day other than (a) a Saturday or a Sunday or (b) a day on which banking institutions in New York City or in the city in which
the corporate trust office of the Trustee is located are authorized or obligated by law or executive order to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Certificate of
Lease Deficit Demand</U>&#8221; means a certificate substantially in the form of <U>Annex A</U> to any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Certificate of
Termination Date Demand</U>&#8221; means a certificate substantially in the form of <U>Annex D</U> to any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Certificate of
Termination Demand</U>&#8221; means a certificate substantially in the form of <U>Annex C</U> to any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Certificate of
Unpaid Demand Note Demand</U>&#8221; means a certificate substantially in the form of <U>Annex B</U> to any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class</U>&#8221;
means a class of the Series 2022-4 Notes, which may be the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes, the
Class E Notes (if issued) or the Class R Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Carryover
Controlled Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period,
the amount, if any, by which the portion of the Monthly Total Principal Allocation paid to the Class A Noteholders pursuant to Section
2.5(e)(i) for the previous Related Month was less than the Class A Controlled Distribution Amount for the previous Related Month; <U>provided</U>,
<U>however</U>, that for the first Related Month in the Series 2022-4 Controlled Amortization Period, the Class A Carryover Controlled
Amortization Amount shall be zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Controlled
Amortization Amount</U>&#8221; means, (i) with respect to any Related Month during the Series 2022-4 Controlled Amortization Period other
than the Related Month immediately preceding the Series 2022-4 Expected Final Distribution Date, $50,645,833.33 and (ii) with respect
to the Related Month immediately preceding the Series 2022-4 Expected Final Distribution Date, $50,645,833.35.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Controlled
Distribution Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period, an amount
equal to the sum of the Class A Controlled Amortization Amount and any Class A Carryover Controlled Amortization Amount for such Related
Month.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class A Notes, which is $303,875,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class A Initial Invested Amount <U>minus</U> (b)
the amount of principal payments made to Class A Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Monthly
Interest</U>&#8221; means, with respect to (i) the initial Series 2022-4 Interest Period, an amount equal to $1,248,166.56 and (ii) any
other Series 2022-4 Interest Period, an amount equal to the product of (A) one-twelfth of the Class A Note Rate and (B) the Class A Invested
Amount on the first day of such Series 2022-4 Interest Period, after giving effect to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Note</U>&#8221;
means any one of the Series 2022-4 4.77% Rental Car Asset Backed Notes, Class A, executed by ABRCF and authenticated by or on behalf of
the Trustee, substantially in the form of <U>Exhibit A&#45;1</U>, <U>Exhibit A-2</U> or <U>Exhibit A-3</U>. Definitive Class A Notes shall
have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Note Rate</U>&#8221;
means 4.77% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Noteholder</U>&#8221;
means the Person in whose name a Class A Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class A Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Carryover
Controlled Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period,
the amount, if any, by which the portion of the Monthly Total Principal Allocation paid to the Class B Noteholders pursuant to Section
2.5(e)(ii) for the previous Related Month was less than the Class B Controlled Distribution Amount for the previous Related Month; <U>provided</U>,
<U>however</U>, that for the first Related Month in the Series 2022-4 Controlled Amortization Period, the Class B Carryover Controlled
Amortization Amount shall be zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Controlled
Amortization Amount</U>&#8221; means, (i) with respect to any Related Month during the Series 2022-4 Controlled Amortization Period other
than the Related Month immediately preceding the Series 2022-4 Expected Final Distribution Date, $7,083,333.33 and (ii) with respect to
the Related Month immediately preceding the Series 2022-4 Expected Final Distribution Date, $7,083,333.35.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Controlled
Distribution Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period, an amount
equal to the sum of the Class B Controlled Amortization Amount and any Class B Carryover Controlled Amortization Amount for such Related
Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class B Notes, which is $42,500,000.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class B Initial Invested Amount <U>minus</U> (b)
the amount of principal payments made to Class B Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Monthly
Interest</U>&#8221; means, with respect to (i) the initial Series 2022-4 Interest Period, an amount equal to $199,820.83 and (ii) any
other Series 2022-4 Interest Period, an amount equal to the product of (A) one-twelfth of the Class B Note Rate and (B) the Class B Invested
Amount on the first day of such Series 2022-4 Interest Period, after giving effect to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Note</U>&#8221;
means any one of the Series 2022-4 5.46% Rental Car Asset Backed Notes, Class B, executed by ABRCF and authenticated by or on behalf of
the Trustee, substantially in the form of <U>Exhibit B&#45;1</U>, <U>Exhibit B&#45;2</U> or <U>Exhibit B&#45;3</U>. Definitive Class B
Notes shall have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Note Rate</U>&#8221;
means 5.46% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Noteholder</U>&#8221;
means the Person in whose name a Class B Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class B Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Carryover
Controlled Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period,
the amount, if any, by which the portion of the Monthly Total Principal Allocation paid to the Class C Noteholders pursuant to Section
2.5(e)(iii) for the previous Related Month was less than the Class C Controlled Distribution Amount for the previous Related Month; <U>provided</U>,
<U>however</U>, that for the first Related Month in the Series 2022-4 Controlled Amortization Period, the Class C Carryover Controlled
Amortization Amount shall be zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Controlled
Amortization Amount</U>&#8221; means, (i) with respect to any Related Month during the Series 2022-4 Controlled Amortization Period other
than the Related Month immediately preceding the Series 2022-4 Expected Final Distribution Date, $4,604,166.67 and (ii) with respect to
the Related Month immediately preceding the Series 2022-4 Expected Final Distribution Date, $4,604,166.65.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Controlled
Distribution Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period, an amount
equal to the sum of the Class C Controlled Amortization Amount and any Class C Carryover Controlled Amortization Amount for such Related
Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class C Notes, which is $27,625,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class C Initial Invested Amount <U>minus</U> (b)
the amount of principal payments made to Class C Noteholders on or prior to such date.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Monthly
Interest</U>&#8221; means, with respect to (i) the initial Series 2022-4 Interest Period, an amount equal to $158,905.14 and (ii) any
other Series 2022-4 Interest Period, an amount equal to the product of (A) one-twelfth of the Class C Note Rate and (B) the Class C Invested
Amount on the first day of such Series 2022-4 Interest Period, after giving effect to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Note</U>&#8221;
means any one of the Series 2022-4 6.68% Rental Car Asset Backed Notes, Class C, executed by ABRCF and authenticated by or on behalf of
the Trustee, substantially in the form of <U>Exhibit C&#45;1</U>, <U>Exhibit C&#45;2</U> or <U>Exhibit C&#45;3</U>. Definitive Class C
Notes shall have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Note Rate</U>&#8221;
means 6.68% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Noteholder</U>&#8221;
means the Person in whose name a Class C Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class C Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(iii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Carryover
Controlled Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period,
the amount, if any, by which the portion of the Monthly Total Principal Allocation paid to the Class D Noteholders pursuant to Section
2.5(e)(iv) for the previous Related Month was less than the Class D Controlled Distribution Amount for the previous Related Month; provided,
however, that for the first Related Month in the Series 2022-4 Controlled Amortization Period, the Class D Carryover Controlled Amortization
Amount shall be zero.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Controlled
Amortization Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period, $8,500,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Controlled
Distribution Amount</U>&#8221; means, with respect to any Related Month during the Series 2022-4 Controlled Amortization Period, an amount
equal to the sum of the Class D Controlled Amortization Amount and any Class D Carryover Controlled Amortization Amount for such Related
Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class D Notes, which is $51,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class D Initial Invested Amount <U>minus</U> (b)
the amount of principal payments made to Class D Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Monthly
Interest</U>&#8221; means, (A) for so long as ABRCF owns 100% of the Class D Notes, $0 and (B) if ABRCF owns less than 100% of the Class
D Notes, with respect to (i) the initial Series 2022-4 Interest Period, an amount equal to $378,122.50 and (ii) any other Series 2022-4
Interest Period, an amount equal to the product of (A) one-twelfth of the Class D Note Rate and (B) the Class D Invested Amount on the
first day of such Series 2022-4 Interest Period, after giving effect to any principal payments made on such date.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Note</U>&#8221;
means any one of the Series 2022-4 8.61% Rental Car Asset Backed Notes, Class D, executed by ABRCF and authenticated by or on behalf of
the Trustee, substantially in the form of <U>Exhibit D&#45;1</U>, <U>Exhibit D&#45;2</U> or <U>Exhibit D&#45;3</U>. Definitive Class D
Notes shall have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Note Rate</U>&#8221;
means 8.61% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Noteholder</U>&#8221;
means the Person in whose name a Class D Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class D Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(iv).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class E Noteholder</U>&#8221;
means the Person in whose name a Class E Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class E Notes</U>&#8221;
has the meaning set forth in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Controlled
Amortization Amount</U>&#8221; means, (i) with respect to any Related Month during the Series 2022-4 Controlled Amortization Period other
than the Related Month immediately preceding the Series 2022-4 Expected Final Distribution Date, $0 and (ii)&nbsp;with respect to the
Related Month immediately preceding the Series 2022-4 Expected Final Distribution Date, the sum of (x)&nbsp;$23,400,000 and (y)&nbsp;the
aggregate principal amount of any Additional Class R Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Initial
Invested Amount</U>&#8221; means the aggregate initial principal amount of the Class R Notes, which is $23,400,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Invested
Amount</U>&#8221; means, when used with respect to any date, an amount equal to (a) the Class R Initial Invested Amount plus (b) the aggregate
principal amount of any Additional Class R Notes issued on or prior to such date <U>minus</U> (b) the amount of principal payments made
to Class R Noteholders on or prior to such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Monthly
Interest</U>&#8221; means, with respect to (i) the initial Series 2022-4 Interest Period, an amount equal to $193,137.75 and (ii) any
other Series 2022-4 Interest Period, an amount equal to the product of (A) one-twelfth of the Class R Note Rate and (B) the Class R Invested
Amount on the first day of such Series 2022-4 Interest Period, after giving effect to any principal payments made on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Note</U>&#8221;
means any one of the Series 2022-4 9.585% Rental Car Asset Backed Notes, Class R, executed by ABRCF and authenticated by or on behalf
of the Trustee, substantially in the form of <U>Exhibit E&#45;1</U>, <U>Exhibit E&#45;2</U> or <U>Exhibit E&#45;3</U>. Definitive Class
R Notes shall have such insertions and deletions as are necessary to give effect to the provisions of Section 2.18 of the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Note Rate</U>&#8221;
means 9.585% per annum.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Noteholder</U>&#8221;
means the Person in whose name a Class R Note is registered in the Note Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Class R Shortfall</U>&#8221;
has the meaning set forth in Section 2.3(g)(v).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Clean-up Repurchase</U>&#8221;
means any optional repurchase pursuant to Section 5.1(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Clean-up Repurchase
Distribution Date</U>&#8221; has the meaning set forth in Section 5.1(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Confirmation Condition</U>&#8221;
means, with respect to any Bankrupt Manufacturer which is a debtor in Chapter 11 Proceedings, a condition that shall be satisfied upon
the bankruptcy court having competent jurisdiction over such Chapter 11 Proceedings issuing an order that remains in effect approving
(i) the assumption of such Bankrupt Manufacturer&#8217;s Manufacturer Program (and the related Assignment Agreements) by such Bankrupt
Manufacturer or the trustee in bankruptcy of such Bankrupt Manufacturer under Section 365 of the Bankruptcy Code and at the time of such
assumption, the payment of all amounts due and payable by such Bankrupt Manufacturer under such Manufacturer Program and the curing of
all other defaults by the Bankrupt Manufacturer thereunder or (ii) the execution, delivery and performance by such Bankrupt Manufacturer
of a new post&#45;petition Manufacturer Program (and the related Assignment Agreements) on the same terms and covering the same Vehicles
as such Bankrupt Manufacturer&#8217;s Manufacturer Program (and the related Assignment Agreements) in effect on the date such Bankrupt
Manufacturer became subject to such Chapter 11 Proceedings and, at the time of the execution and delivery of such new post&#45;petition
Manufacturer Program, the payment of all amounts due and payable by such Bankrupt Manufacturer under such Manufacturer Program and the
curing of all other defaults by the Bankrupt Manufacturer thereunder; <U>provided</U>, <U>however</U>, that notwithstanding the foregoing,
the Confirmation Condition shall be deemed satisfied until the 90<SUP>th</SUP> calendar day following the initial filing in respect of
such Chapter&nbsp;11 Proceedings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>Daily Simple SOFR</U>&#8221;
means, for any day (a &#8220;<U>SOFR Rate Day</U>&#8221;), SOFR for the day (such day, a &#8220;<U>SOFR Determination Date</U>&#8221;)
that is five (5) U.S. Government Securities Business Days prior to (i) if such SOFR Rate Day is a U.S. Government Securities Business
Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities
Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator&#8217;s
Website.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Demand Note Issuer</U>&#8221;
means each issuer of a Series 2022-4 Demand Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Disbursement</U>&#8221;
means any Lease Deficit Disbursement, any Unpaid Demand Note Disbursement, any Termination Date Disbursement or any Termination Disbursement
under a Multi-Series Letter of Credit, or any combination thereof, as the context may require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Discounted Value</U>&#8221;
means, for each Remaining Distribution Amount, the amount obtained by discounting such Remaining Distribution Amount from the applicable
Distribution Date to the Optional Repurchase Distribution Date in accordance with accepted financial practice</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">and at a discount factor equal to the Reinvestment
Yield with respect to such Remaining Distribution Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Finance Guide</U>&#8221;
means the Black Book Official Finance/Lease Guide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Fitch</U>&#8221;
means Fitch Ratings, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class A
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class B
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class C
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class D
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Global Class R
Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Initial Purchaser</U>&#8221;
means one or more placement agents or initial purchasers selected by ABRCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Lease Deficit Disbursement</U>&#8221;
means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Lease Deficit Demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Make Whole Payment</U>&#8221;
means, with respect to any Series 2022-4 Note on any Optional Repurchase Distribution Date, the <I>pro rata </I>share with respect to
such Series 2022-4 Note of the excess, if any, of (x) the sum of the Discounted Values for each Remaining Distribution Amount with respect
to each Applicable Distribution Date over (y) the Series 2022-4 Invested Amount as of such Optional Repurchase Distribution Date (determined
after giving effect to any payments made pursuant to Section 2.5(a) on such Distribution Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Market Value Average</U>&#8221;
means, as of any day, the percentage equivalent of a fraction, the numerator of which is the average of the Selected Fleet Market Value
as of the preceding Determination Date and the two Determination Dates precedent thereto and the denominator of which is the sum of (a)
the average of the aggregate Net Book Value of all Non&#45;Program Vehicles (excluding (i)&nbsp;any Unaccepted Program Vehicles, (ii)&nbsp;any
Excluded Redesignated Vehicles and (iii) any other Non&#45;Program Vehicles that are subject to a Manufacturer Program with an Eligible
Non&#45;Program Manufacturer with respect to which no Manufacturer Event of Default has occurred and is continuing) and (b) the average
of the aggregate Adjusted Net Book Value of all Adjusted Program Vehicles, in the case of each of clause (a) and (b) leased under the
AESOP I Operating Lease and the Finance Lease as of the preceding Determination Date and the two Determination Dates precedent thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Monthly Total Principal
Allocation</U>&#8221; means for any Related Month the sum of all Series 2022-4 Principal Allocations with respect to such Related Month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Moody&#8217;s Excluded
Manufacturer Amount</U>&#8221; means, as of any date of determination, an amount equal to the excess, if any, of (x) the sum of the following
amounts with respect to each Moody&#8217;s Non-Investment Grade Manufacturer as of such date: the product</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">of (i) to the extent such amounts are included
in the calculation of AESOP I Operating Lease Loan Agreement Borrowing Base as of such date, all amounts receivable as of such date by
AESOP Leasing or the Intermediary from such Moody&#8217;s Non-Investment Grade Manufacturer and (ii) the Moody&#8217;s Excluded Manufacturer
Receivable Specified Percentage for such Moody&#8217;s Non-Investment Grade Manufacturer as of such date over (y) the sum of the following
amounts with respect to each Moody&#8217;s Non-Investment Grade Manufacturer as of such date: the product of (i) the aggregate Net Book
Value of any Vehicles subject to a Manufacturer Program from such Manufacturer that have had a Turnback Date but for which (A) AESOP Leasing
or its Permitted Nominee continues to be named as the owner of the Vehicle on the Certificate of Title for such Vehicle and (B) AESOP
Leasing or its agent continues to hold the Certificate of Title for such Vehicle and (ii) the Moody&#8217;s Turnback Vehicle Specified
Percentage for such Moody&#8217;s Non-Investment Grade Manufacturer as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Moody&#8217;s Excluded
Manufacturer Receivable Specified Percentage</U>&#8221; means, as of any date of determination, with respect to each Moody&#8217;s Non&#45;Investment
Grade Manufacturer as of such date, the percentage (not to exceed 100%) most recently specified in writing by Moody&#8217;s to ABRCF and
the Trustee and consented to by the Requisite Series 2022-4 Noteholders with respect to such Moody&#8217;s Non&#45;Investment Grade Manufacturer;
<U>provided</U>, <U>however</U>, that as of the Series 2022-4 Closing Date the Moody&#8217;s Excluded Manufacturer Receivable Specified
Percentage for each Moody&#8217;s Non&#45;Investment Grade Manufacturer shall be 100%; <U>provided</U>, <U>further</U>, that the initial
Moody&#8217;s Excluded Manufacturer Receivable Specified Percentage with respect to any Manufacturer that becomes a Moody&#8217;s Non&#45;Investment
Grade Manufacturer after the Series 2022-4 Closing Date shall be 100%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Moody&#8217;s Non&#45;Investment
Grade Manufacturer</U>&#8221; means, as of any date of determination, any Manufacturer that (i) is not a Bankrupt Manufacturer and (ii)
does not have either (A) a long-term corporate family rating of at least &#8220;Baa3&#8221; from Moody&#8217;s or (B) if such Manufacturer
does not have a long-term corporate family rating from Moody&#8217;s as of such date, a long-term senior unsecured debt rating of at least
&#8220;Ba1&#8221; from Moody&#8217;s; <U>provided</U>, <U>however</U>, that any Manufacturer whose long-term corporate family rating is
downgraded from at least &#8220;Baa3&#8221; to below &#8220;Baa3&#8221; by Moody&#8217;s or whose long-term senior unsecured debt rating
is downgraded from at least &#8220;Ba1&#8221; to below &#8220;Ba1&#8221; by Moody&#8217;s, as applicable, after the Series 2022-4 Closing
Date shall not be deemed a Moody&#8217;s Non-Investment Grade Manufacturer until the thirtieth (30<SUP>th</SUP>) calendar day following
such downgrade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Moody&#8217;s Turnback
Vehicle Specified Percentage</U>&#8221; means, as of any date of determination: (i) with respect to each Moody&#8217;s Non-Investment
Grade Manufacturer that has a long-term corporate family rating from Moody&#8217;s on such date of determination of at least &#8220;Ba3&#8221;
(or, if such Moody&#8217;s Non-Investment Grade Manufacturer does not have a long-term corporate family rating from Moody&#8217;s as of
such date, a long-term senior unsecured debt rating of at least &#8220;B1&#8221;), 65%; (ii) with respect to each Moody&#8217;s Non-Investment
Grade Manufacturer that has a long-term corporate family rating from Moody&#8217;s on such date of determination of at least &#8220;B3&#8221;
but less than &#8220;Ba3&#8221; (or, if such Moody&#8217;s Non-Investment Grade Manufacturer does not have a long-term corporate family
rating from Moody&#8217;s as of such date, a long-term senior unsecured debt rating of at least &#8220;Caa1&#8221; but less than &#8220;B1&#8221;),
25%; and (iii) with respect to any other Moody&#8217;s Non-Investment Grade Manufacturer, 0%; <U>provided</U>, <U>however</U>, that any
Manufacturer whose long-term corporate family rating or long-term senior unsecured debt rating from</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Moody&#8217;s is downgraded after the Series
2022-4 Closing Date shall be deemed to retain its long-term corporate family rating or long-term senior unsecured debt rating, as applicable,
from Moody&#8217;s in effect immediately prior to such downgrade until the thirtieth (30<SUP>th</SUP>) calendar day following such downgrade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Multi-Series Letter
of Credit</U>&#8221; means an irrevocable letter of credit, if any, substantially in the form of <U>Exhibit G</U> issued by a Series 2022-4
Eligible Letter of Credit Provider in favor of the Trustee for the benefit, in whole or in part, of the Series 2022-4 Noteholders (<U>provided</U>
that a Multi-Series Letter of Credit may also benefit Noteholders of certain other Series).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Multi-Series Letter
of Credit Expiration Date</U>&#8221; means, with respect to any Multi-Series Letter of Credit, the expiration date set forth in such Multi-Series
Letter of Credit, as such date may be extended in accordance with the terms of such Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Multi-Series Letter
of Credit Provider</U>&#8221; means any issuer of any Multi-Series Letter of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Multi-Series Letter
of Credit Termination Date</U>&#8221; means the first to occur of (a)&nbsp;the date on which the Series 2022-4 Notes are fully paid and
(b) the Series 2022-4 Termination Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>NYFRB</U>&#8221; means
the Federal Reserve Bank of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>NYFRB&#8217;s Website</U>&#8221;
means the website of the NYFRB at http://www.newyorkfed.org, or any successor source.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Optional Repurchase</U>&#8221;
is defined in Section 5.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Optional Repurchase
Distribution Date</U>&#8221; is defined in Section 5.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Past Due Rent Payment</U>&#8221;
is defined in Section 2.2(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class A Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class B Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class C Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class D Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Class R Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Permanent Global
Series 2022-4 Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Pre&#45;Preference
Period Demand Note Payments</U>&#8221; means, as of any date of determination, the aggregate amount of all proceeds of demands made on
the Series 2022-4 Demand Notes included in the Series 2022-4 Demand Note Payment Amount as of the Multi-</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Series Letter of Credit Termination Date that
were paid by the Demand Note Issuers more than one year before such date of determination; <U>provided</U>, <U>however</U>, that if an
Event of Bankruptcy (or the occurrence of an event described in clause (a) of the definition thereof, without the lapse of a period of
sixty (60) consecutive days) with respect to a Demand Note Issuer occurs during such one&#45;year period, (x) the Pre&#45;Preference Period
Demand Note Payments as of any date during the period from and including the date of the occurrence of such Event of Bankruptcy to and
including the conclusion or dismissal of the proceedings giving rise to such Event of Bankruptcy without continuing jurisdiction by the
court in such proceedings shall equal the Pre&#45;Preference Period Demand Note Payments as of the date of such occurrence for all Demand
Note Issuers and (y) the Pre&#45;Preference Period Demand Note Payments as of any date after the conclusion or dismissal of such proceedings
shall equal the Series 2022-4 Demand Note Payment Amount as of the date of the conclusion or dismissal of such proceedings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Principal Deficit
Amount</U>&#8221; means, as of any date of determination, the excess, if any, of (i) the Series 2022-4 Senior Invested Amount on such
date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution
Date) over (ii) the Series 2022-4 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; <U>provided</U>, <U>however</U>,
that the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of
the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall
have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating
Lease, shall mean the excess, if any, of (x) the Series 2022-4 Senior Invested Amount on such date (after giving effect to the distribution
of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2022-4
AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2022-4 Liquidity Amount on such
date and (b) the Series 2022-4 Required Liquidity Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Proposed Class
E Notes</U>&#8221; has the meaning set forth in Section 5.15.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Pro Rata Share</U>&#8221;
means, with respect to any Multi-Series Letter of Credit Provider as of any date, the fraction (expressed as a percentage) obtained by
dividing (A) the available amount allocated to the Series 2022-4 Notes under such Multi-Series Letter of Credit Provider&#8217;s Multi-Series
Letter of Credit as of such date by (B) an amount equal to the aggregate available amount allocated to the Series 2022-4 Notes under all
Multi-Series Letters of Credit as of such date; <U>provided</U>, <U>however</U>, that only for purposes of calculating the Pro Rata Share
with respect to any Multi-Series Letter of Credit Provider as of any date, if such Multi-Series Letter of Credit Provider has not complied
with its obligation to pay the Trustee the amount of any draw under the Multi-Series Letter of Credit made prior to such date, the available
amount under such Multi-Series Letter of Credit as of such date shall be treated as reduced (for calculation purposes only) by the amount
of such unpaid demand and shall not be reinstated for purposes of such calculation unless and until the date as of which such Multi-Series
Letter of Credit Provider has paid such amount to the Trustee and been reimbursed by the Lessee or the applicable Demand Note Issuer,
as the case may be, for such amount (<U>provided</U>, <U>however</U>, that the foregoing calculation shall not in any manner reduce the
undersigned&#8217;s actual liability in respect of any failure to pay any demand under the Multi-Series Letter of Credit).</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Reinvestment Yield</U>&#8221;
means, with respect to any Remaining Distribution Amount, the sum of (i) 0.25% and (ii) the greater of (x) 0% and (y) the U.S. Treasury
Rate with respect to such Remaining Distribution Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Remaining Distribution
Amount</U>&#8221; means, with respect to each Applicable Distribution Date, the sum of (i) the sum of (x) an amount equal to the Class
A Controlled Amortization Amount with respect to the Related Month immediately preceding such Applicable Distribution Date (or, if the
Optional Repurchase Distribution Date occurs after the September 2027 Distribution Date, the Class A Controlled Distribution Amount with
respect to the Related Month preceding the first such Applicable Distribution Date) and (y) the interest that will accrue on such amount
from the Optional Repurchase Distribution Date to such Applicable Distribution Date at the Class A Note Rate, (ii) the sum of (x) an amount
equal to the Class B Controlled Amortization Amount with respect to the Related Month immediately preceding such Applicable Distribution
Date (or, if the Optional Repurchase Distribution Date occurs after the September 2027 Distribution Date, the Class B Controlled Distribution
Amount with respect to the Related Month preceding the first such Applicable Distribution Date) and (y) the interest that will accrue
on such amount from the Optional Repurchase Distribution Date to such Applicable Distribution Date at the Class B Note Rate, (iii) the
sum of (x) an amount equal to the Class C Controlled Amortization Amount with respect to the Related Month immediately preceding such
Applicable Distribution Date (or, if the Optional Repurchase Distribution Date occurs after the September 2027 Distribution Date, the
Class C Controlled Distribution Amount with respect to the Related Month preceding the first such Applicable Distribution Date) and (y)
the interest that will accrue on such amount from the Optional Repurchase Distribution Date to such Applicable Distribution Date at the
Class C Note Rate, (iv) the sum of (x) an amount equal to the Class D Controlled Amortization Amount with respect to the Related Month
immediately preceding such Applicable Distribution Date (or, if the Optional Repurchase Distribution Date occurs after the September 2027
Distribution Date, the Class D Controlled Distribution Amount with respect to the Related Month preceding the first such Applicable Distribution
Date) and (y) the interest that will accrue on such amount from the Optional Repurchase Distribution Date to such Applicable Distribution
Date at the Class D Note Rate and (v) the sum of (x) an amount equal to the Class R Controlled Amortization Amount with respect to the
Related Month immediately preceding such Applicable Distribution Date (or, if the Optional Repurchase Distribution Date occurs after the
September 2027 Distribution Date, the Class R Controlled Amortization Amount with respect to the Related Month preceding the first such
Applicable Distribution Date) and (y) the interest that will accrue on such amount from the Optional Repurchase Distribution Date to such
Applicable Distribution Date at the Class R Note Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Required Controlling
Class Series 2022-4 Noteholders</U>&#8221; means (i) for so long as any Class A Notes are outstanding, Class A Noteholders holding more
than 50% of the Class A Invested Amount, (ii) if no Class A Notes are outstanding and for so long as any Class B Notes are outstanding,
Class B Noteholders holding more than 50% of the Class B Invested Amount, (iii) if no Class A Notes or Class B Notes are outstanding,
Class C Noteholders holding more than 50% of the Class C Invested Amount, (iv) if no Class A Notes, Class B Notes or Class C Notes are
outstanding, Class D Noteholders holding more than 50% of the Class C Invested Amount (excluding, for the purposes of making any of the
foregoing calculations, any Series 2022-4 Notes held by ABCR or any Affiliate of ABCR unless ABCR or such Affiliate is the sole Series
2022-4 Noteholder) and (v) if no Class A Notes, Class B Notes, Class C Notes or Class D</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Notes are outstanding, Class R Noteholders
holding more than 50% Class R Invested Amount (excluding, for the purposes of making any of the foregoing calculations, any Series 2022-4
Notes held by ABCR or any Affiliate of ABCR unless ABCR or such Affiliate is the sole Series 2022-4 Noteholder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Requisite Series
2022-4 Noteholders</U>&#8221; means Class A Noteholders, Class B Noteholders, Class C Noteholders, Class D Noteholders and/or Class R
Noteholders holding, in the aggregate, more than 50% of the Series 2022-4 Invested Amount (excluding, for the purposes of making the foregoing
calculation, any Series 2022-4 Notes held by ABCR or any Affiliate of ABCR or such Affiliate unless ABCR is the sole Series 2022-4 Noteholder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class A Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class B Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class C Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class D Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Restricted Global
Class R Note</U>&#8221; is defined in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Selected Fleet
Market Value</U>&#8221; means, with respect to all Adjusted Program Vehicles and all Non&#45;Program Vehicles (excluding (i) any Unaccepted
Program Vehicles, (ii)&nbsp;any Excluded Redesignated Vehicles and (iii) any other Non&#45;Program Vehicles that are subject to a Manufacturer
Program with an Eligible Non&#45;Program Manufacturer with respect to which no Manufacturer Event of Default has occurred and is continuing)
as of any date of determination, the sum of the respective Market Values of each such Adjusted Program Vehicle and each such Non&#45;Program
Vehicle, in each case subject to the AESOP I Operating Lease or the Finance Lease as of such date. For purposes of computing the Selected
Fleet Market Value, the &#8220;Market Value&#8221; of an Adjusted Program Vehicle or a Non&#45;Program Vehicle means the market value
of such Vehicle as specified in the most recently published NADA Guide for the model class and model year of such Vehicle based on the
average equipment and the average mileage of each Vehicle of such model class and model year then leased under the AESOP I Operating Lease
and the Finance Lease; <U>provided</U>, <U>however</U>, that if the NADA Guide is not being published or the NADA Guide is being published
but such Vehicle is not included therein, the Market Value of such Vehicle shall be based on the market value specified in the most recently
published Finance Guide for the model class and model year of such Vehicle based on the average equipment and the average mileage of each
Vehicle of such model class and model year then leased under the AESOP I Operating Lease or the Finance Lease; <U>provided</U>, <U>further</U>,
that if the Finance Guide is being published but such Vehicle is not included therein, the Market Value of such Vehicle shall mean (x)
in the case of an Adjusted Program Vehicle, the Adjusted Net Book Value of such Adjusted Program Vehicle and (y) in the case of a Non&#45;Program
Vehicle, the Net Book Value of such Non&#45;Program Vehicle <U>provided</U>, <U>further</U>, that if the Finance Guide is not being published,
the Market Value of such Vehicle shall be based on an independent third&#45;party data source selected by the Administrator and approved
by each Rating Agency that is rating any Series of Notes at the request of ABRCF based on the average equipment and average mileage of
each Vehicle of such model class and model year then leased under the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">AESOP I Operating Lease or the Finance Lease;
<U>provided</U>, <U>further</U>, that if no such third&#45;party data source or methodology shall have been so approved or any such third&#45;party
data source or methodology is not available, the Market Value of such Vehicle shall be equal to a reasonable estimate of the wholesale
market value of such Vehicle as determined by the Administrator, based on the Net Book Value of such Vehicle and any other factors deemed
relevant by the Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2010-6 Notes</U>&#8221;
means the Series of Notes designated as the Series 2010-6 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2011-4 Notes</U>&#8221;
means the Series of Notes designated as the Series 2011-4 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2015-3 Notes</U>&#8221;
means the Series of Notes designated as the Series 2015-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2017-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2017-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2017-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2017-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2018-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2018-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2018-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2018-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2019-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2019-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2019-3 Notes</U>&#8221;
means the Series of Notes designated as the Series 2019-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2020-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2020-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2020-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2020-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2021-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2021-1 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2021-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2021-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-1 Notes</U>&#8221;
means the Series of Notes designated as the Series 2022-1 Notes.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-2 Notes</U>&#8221;
means the Series of Notes designated as the Series 2022-2 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-3 Notes</U>&#8221;
means the Series of Notes designated as the Series 2022-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Accounts</U>&#8221;
means each of the Series 2022-4 Distribution Account, the Series 2022-4 Reserve Account, the Series 2022-4 Collection Account, the Series
2022-4 Excess Collection Account and the Series 2022-4 Accrued Interest Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Accrued
Interest Account</U>&#8221; is defined in Section 2.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 AESOP
I Operating Lease Loan Agreement Borrowing Base</U>&#8221; means, as of any date of determination, the product of (a) the Series 2022-4
AESOP I Operating Lease Vehicle Percentage as of such date and (b) the excess of (i)&nbsp;the AESOP I Operating Lease Loan Agreement Borrowing
Base as of such date <U>over</U> (ii)&nbsp;the Moody&#8217;s Excluded Manufacturer Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 AESOP
I Operating Lease Vehicle Percentage</U>&#8221; means, as of any date of determination, a fraction, expressed as a percentage (which percentage
shall never exceed 100%), the numerator of which is the Series 2022-4 Required AESOP I Operating Lease Vehicle Amount as of such date
and the denominator of which is the sum of the Required AESOP I Operating Lease Vehicle Amounts for all Series of Notes as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Agent</U>&#8221;
is defined in the recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Allocated
Cash Amount</U>&#8221; means, as of any date of determination, an amount equal to (x) all cash on deposit in the Collection Account as
of such date <I>times</I> (y) the Series 2022-4 Invested Percentage (calculated with respect to Principal Collections) as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Allocated
Multi-Series Letter of Credit Amount</U>&#8221; means, as of any date of determination, the lesser of (a) the Series 2022-4 Allocated
Multi-Series Letter of Credit Liquidity Amount on such date and (b) the aggregate outstanding principal amount of the Series 2022-4 Demand
Notes on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Allocated
Multi-Series Letter of Credit Liquidity Amount</U>&#8221; means, as of any date of determination, the sum of (a) the Series 2022-4 Applicable
Multi-Series L/C Amount as of such date under each Multi-Series Letters of Credit on which no draw has been made pursuant to Section 2.8(c),
and (b) if the Series 2022-4 Cash Collateral Account has been established and funded pursuant to Section&nbsp;2.8, the Series 2022-4 Available
Cash Collateral Account Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Applicable
Multi-Series L/C Amount</U>&#8221; means, as of any date of determination, an amount equal to the sum, for each Multi-Series Letter of
Credit, of (1) the aggregate amount available to be drawn on such date under such Multi-Series Letter of Credit <I>times</I> (2) an amount
(expressed as a percentage) equal to the Series 2022-4 Required Liquidity</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Amount divided by &#8220;Required Liquidity
Amount&#8221; for each applicable Series for which such Multi-Series Letter of Credit is providing credit enhancement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Available
Cash Collateral Account Amount</U>&#8221; means, as of any date of determination, the amount on deposit in the Series 2022-4 Cash Collateral
Account (after giving effect to any deposits thereto and withdrawals and releases therefrom on such date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Available
Reserve Account Amount</U>&#8221; means, as of any date of determination, the amount on deposit in the Series 2022-4 Reserve Account (after
giving effect to any deposits thereto and withdrawals and releases therefrom on such date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Cash
Collateral Account</U>&#8221; is defined in Section&nbsp;2.8(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Cash
Collateral Account Collateral</U>&#8221; is defined in Section&nbsp;2.8(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Cash
Collateral Account Surplus</U>&#8221; means, with respect to any Distribution Date, the lesser of (a) the Series 2022-4 Available Cash
Collateral Account Amount and (b) the lesser of (A) the excess, if any, of the Series 2022-4 Liquidity Amount (after giving effect to
any withdrawal from the Series 2022-4 Reserve Account on such Distribution Date) over the Series 2022-4 Required Liquidity Amount on such
Distribution Date and (B) the excess, if any, of the Series 2022-4 Enhancement Amount (after giving effect to any withdrawal from the
Series 2022-4 Reserve Account on such Distribution Date) over the Series 2022-4 Required Enhancement Amount on such Distribution Date;
<U>provided</U>, <U>however</U>, that, on any date after the Multi-Series Letter of Credit Termination Date, the Series 2022-4 Cash Collateral
Account Surplus shall mean the excess, if any, of (x) the Series 2022-4 Available Cash Collateral Account Amount over (y) the Series 2022-4
Demand Note Payment Amount <U>minus</U> the Pre&#45;Preference Period Demand Note Payments as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Cash
Collateral Percentage</U>&#8221; means, as of any date of determination, the percentage equivalent of a fraction, the numerator of which
is the Series 2022-4 Available Cash Collateral Account Amount as of such date and the denominator of which is the Series 2022-4 Allocated
Multi-Series Letter of Credit Liquidity Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Closing
Date</U>&#8221; means July 21, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Collateral</U>&#8221;
means the Collateral, the Multi-Series Letters of Credit, each Series 2022-4 Demand Note, the Series 2022-4 Distribution Account Collateral,
the Series 2022-4 Cash Collateral Account Collateral and the Series 2022-4 Reserve Account Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Collection
Account</U>&#8221; is defined in Section 2.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Controlled
Amortization Period</U>&#8221; means the period commencing upon the close of business on July 31, 2027 (or, if such day is not a Business
Day, the Business Day immediately preceding such day) and continuing to the earliest of (i) the commencement of the Series 2022-4 Rapid
Amortization Period, (ii) the date on which the Series 2022-4 Notes are fully paid and (iii) the termination of the Indenture.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Demand
Note</U>&#8221; means each demand note made by a Demand Note Issuer, substantially in the form of <U>Exhibit F</U>, as amended, modified
or restated from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Demand
Note Payment Amount</U>&#8221; means, as of the Multi-Series Letter of Credit Termination Date, the aggregate amount of all proceeds of
demands made on the Series 2022-4 Demand Notes pursuant to Section&nbsp;2.5(b) or (c) that were deposited into the Series 2022-4 Distribution
Account and paid to the Series 2022-4 Noteholders during the one year period ending on the Multi-Series Letter of Credit Termination Date;
<U>provided</U>, <U>however</U>, that if an Event of Bankruptcy (or the occurrence of an event described in clause (a) of the definition
thereof, without the lapse of a period of sixty (60) consecutive days) with respect to a Demand Note Issuer shall have occurred during
such one year period, the Series 2022-4 Demand Note Payment Amount as of the Multi-Series Letter of Credit Termination Date shall equal
the Series 2022-4 Demand Note Payment Amount as if it were calculated as of the date of such occurrence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Deposit
Date</U>&#8221; is defined in Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Distribution
Account</U>&#8221; is defined in Section 2.9(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Distribution
Account Collateral</U>&#8221; is defined in Section 2.9(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Eligible
Letter of Credit Provider</U>&#8221; means a Person satisfactory to ABCR and the Demand Note Issuers and having, at the time of the issuance
of the related Multi-Series Letter of Credit, a long-term senior unsecured debt rating (or the equivalent thereof) of at least &#8220;Al&#8221;
from Moody&#8217;s and at least &#8220;A+&#8221; from Fitch and a short-term senior unsecured debt rating of at least &#8220;P-1&#8221;
from Moody&#8217;s and at least &#8220;F1&#8221; from Fitch that is (a) a commercial bank having total assets in excess of $500,000,000,
(b) a finance company, insurance company or other financial institution that in the ordinary course of business issues letters of credit
and has total assets in excess of $200,000,000 or (c) any other financial institution; <U>provided</U>, <U>however</U>, that if a Person
is not a Multi-Series Letter of Credit Provider (or a letter of credit provider under the Series Supplement for any other Series of Notes),
then such Person shall not be a Series 2022-4 Eligible Letter of Credit Provider until ABRCF has provided 10 days&#8217; prior notice
to the Rating Agencies that such Person has been proposed as a Multi-Series Letter of Credit Provider.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Enhancement</U>&#8221;
means the Series 2022-4 Cash Collateral Account Collateral, the Multi-Series Letters of Credit, the Series 2022-4 Demand Notes, the Series
2022-4 Overcollateralization Amount and the Series 2022-4 Required Reserve Account Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Enhancement
Amount</U>&#8221; means, as of any date of determination, the sum of (i) the Series 2022-4 Overcollateralization Amount as of such date,
(ii) the Series 2022-4 Allocated Multi-Series Letter of Credit Amount as of such date, (iii) the Series 2022-4 Available Reserve Account
Amount as of such date and (iv) the amount of cash and Permitted Investments on deposit in the Series 2022-4 Collection Account (not including
amounts allocable to the Series 2022-4 Accrued Interest Account) and the Series 2022-4 Excess Collection Account as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Enhancement
Deficiency</U>&#8221; means, on any date of determination, the amount by which the Series 2022-4 Enhancement Amount is less than the Series
2022-4 Required Enhancement Amount as of such date.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Excess
Collection Account</U>&#8221; is defined in Section 2.1(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Expected
Final Distribution Date</U>&#8221; means the February 2028 Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Final
Distribution Date</U>&#8221; means the February 2029 Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Interest
Period</U>&#8221; means a period commencing on and including a Distribution Date and ending on and including the day preceding the next
succeeding Distribution Date; <U>provided</U>, <U>however</U>, that the initial Series 2022-4 Interest Period shall commence on and include
the Series 2022-4 Closing Date and end on and include August 21, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Invested
Amount</U>&#8221; means, as of any date of determination, the sum of the Class A Invested Amount as of such date, the Class B Invested
Amount as of such date, the Class C Invested Amount as of such date, the Class D Invested Amount as of such date and the Class R Invested
Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Invested
Percentage</U>&#8221; means as of any date of determination:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;when
used with respect to Principal Collections, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator
of which shall be equal to the sum of the Series 2022-4 Invested Amount and the Series 2022-4 Overcollateralization Amount, determined
during the Series 2022-4 Revolving Period as of the end of the Related Month (or, until the end of the initial Related Month, on the Series
2022-4 Closing Date), or, during the Series 2022-4 Controlled Amortization Period and the Series 2022-4 Rapid Amortization Period, as
of the end of the Series 2022-4 Revolving Period, and the denominator of which shall be the greater of (I) the Aggregate Asset Amount
as of the end of the Related Month or, until the end of the initial Related Month, as of the Series 2022-4 Closing Date, and (II) as of
the same date as in clause (I), the sum of the numerators used to determine the invested percentages for allocations with respect to Principal
Collections (for all Series of Notes and all classes of such Series of Notes); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;when
used with respect to Interest Collections, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator
of which shall be the Accrued Amounts with respect to the Series 2022-4 Notes on such date of determination, and the denominator of which
shall be the aggregate Accrued Amounts with respect to all Series of Notes on such date of determination. For so long as ABRCF owns 100%
of the Class D Notes, the accrued and unpaid interest with respect to the Class D Notes shall be $0 for purposes of calculating the Accrued
Amounts with respect to the Series 2022-4 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Lease
Interest Payment Deficit</U>&#8221; means, on any Distribution Date, an amount equal to the excess, if any, of (1) the excess, if any,
of (a) the aggregate amount of Interest Collections which pursuant to Section 2.2(a), (b), (c) or (d) would have been allocated to the
Series 2022-4 Accrued Interest Account if all payments of Monthly Base Rent required to have been made under the Leases from and excluding
the preceding Distribution Date to and including such Distribution Date were made in full over (b) the aggregate amount of Interest</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Collections which pursuant to Section 2.2(a),
(b), (c) or (d) have been allocated to the Series 2022-4 Accrued Interest Account (excluding any amounts paid into the Series 2022-4 Accrued
Interest Account pursuant to the proviso in Sections 2.2(c)(ii) and/or 2.2(d)(ii)) from and excluding the preceding Distribution Date
to and including the Business Day immediately preceding such Distribution Date over (2) the Class R Monthly Interest with respect to the
Series 2022-4 Interest Period ended on the day preceding such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Lease
Payment Deficit</U>&#8221; means either a Series 2022-4 Lease Interest Payment Deficit or a Series 2022-4 Lease Principal Payment Deficit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Lease
Principal Payment Carryover Deficit</U>&#8221; means (a) for the initial Distribution Date, zero and (b) for any other Distribution Date,
the excess of (x) the Series 2022-4 Lease Principal Payment Deficit, if any, on the preceding Distribution Date <U>over</U> (y) the amount
deposited in the Distribution Account on such preceding Distribution Date pursuant to Section 2.5(b) on account of such Series 2022-4
Lease Principal Payment Deficit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Lease
Principal Payment Deficit</U>&#8221; means on any Distribution Date, the sum of (a) the Series 2022-4 Monthly Lease Principal Payment
Deficit for such Distribution Date and (b) the Series 2022-4 Lease Principal Payment Carryover Deficit for such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Limited
Liquidation Event of Default</U>&#8221; means, so long as such event or condition continues, any event or condition of the type specified
in clauses (a) through (g) of Article III; <U>provided</U>, <U>however</U>, that any event or condition of the type specified in clauses
(a) through (g) of Article III shall not constitute a Series 2022-4 Limited Liquidation Event of Default if the Trustee shall have received
the written consent of the Requisite Series 2022-4 Noteholders waiving the occurrence of such Series 2022-4 Limited Liquidation Event
of Default. The Trustee shall promptly (but in any event within two (2) days) provide the Rating Agencies with written notice of such
waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Liquidity
Amount</U>&#8221; means, as of any date of determination, the sum of (a) the Series 2022-4 Allocated Multi-Series Letter of Credit Liquidity
Amount on such date and (b) the Series 2022-4 Available Reserve Account Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Amounts</U>&#8221; means, collectively, the Series 2022-4 Maximum Non-Program Vehicle Amount, the Series 2022-4 Maximum Jaguar Amount,
Series 2022-4 Maximum Tesla Amount, the Series 2022-4 Maximum Land Rover Amount, the Series 2022-4 Maximum Mitsubishi Amount, the Series
2022-4 Maximum Isuzu Amount, the Series 2022-4 Maximum Subaru Amount, the Series 2022-4 Maximum Hyundai Amount, the Series 2022-4 Maximum
Kia Amount, the Series 2022-4 Maximum Suzuki Amount, the Series 2022-4 Maximum Specified States Amount (if applicable), the Series 2022-4
Maximum Non-Perfected Vehicle Amount, the Series 2022-4 Maximum Non-Eligible Manufacturer Amount, the Series 2022-4 Maximum Used Vehicle
Amount and the Series 2022-4 Maximum Medium/Heavy Duty Truck Amount.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Hyundai Amount</U>&#8221; means, as of any day, an amount equal to 55% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Isuzu Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Jaguar Amount</U>&#8221; means, as of any day, an amount equal to 12.5% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Kia Amount</U>&#8221; means, as of any day, an amount equal to 55% of the aggregate Net Book Value of all Vehicles leased under the Leases
on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Land Rover Amount</U>&#8221; means, as of any day, an amount equal to 12.5% of the aggregate Net Book Value of all Vehicles leased under
the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Medium/Heavy Duty Truck Amount</U>&#8221; means, as of any day, an amount equal to 5% of the aggregate Net Book Value of all Vehicles
leased under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Mitsubishi Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased under
the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Non-Eligible Manufacturer Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles
leased under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Non-Perfected Vehicle Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased
under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Non-Program Vehicle Amount</U>&#8221; means, as of any day, an amount equal to the Series 2022-4 Maximum Non-Program Vehicle Percentage
of the aggregate Net Book Value of all Vehicles leased under the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Non-Program Vehicle Percentage</U>&#8221; means, as of any date of determination, the sum of (a) 85% and (b) a fraction, expressed as
a percentage, the numerator of which is the aggregate Net Book Value of all Redesignated Vehicles manufactured by a Bankrupt Manufacturer
or a Manufacturer with respect to which a Manufacturer Event of Default has occurred, and in each case leased under the AESOP I Operating
Lease or the Finance Lease as of such date, and the denominator of which is the aggregate Net Book Value of all Vehicles leased under
the Leases as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Specified States Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased
under the Leases on such day.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Subaru Amount</U>&#8221; means, as of any day, an amount equal to 12.5% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Suzuki Amount</U>&#8221; means, as of any day, an amount equal to 10% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Tesla Amount</U>&#8221; means, as of any day, an amount equal to 15% of the aggregate Net Book Value of all Vehicles leased under the
Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Maximum
Used Vehicle Amount</U>&#8221; means, as of any day, an amount equal to 25% of the aggregate Net Book Value of all Vehicles leased under
the Leases on such day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Monthly
Lease Principal Payment Deficit</U>&#8221; means, on any Distribution Date, an amount equal to the excess, if any, of (1) the excess,
if any, of (a) the aggregate amount of Principal Collections which pursuant to Section 2.2(a), (b), (c) or (d) would have been allocated
to the Series 2022-4 Collection Account if all payments required to have been made under the Leases from and excluding the preceding Distribution
Date to and including such Distribution Date were made in full over (b) the aggregate amount of Principal Collections which pursuant to
Section&nbsp;2.2(a), (b), (c) or (d) have been allocated to the Series 2022-4 Collection Account (without giving effect to any amounts
paid into the Series 2022-4 Accrued Interest Account pursuant to the proviso in Sections 2.2(c)(ii) and/or 2.2(d)(ii)) from and excluding
the preceding Distribution Date to and including the Business Day immediately preceding such Distribution Date over (2) the principal
due and payable with respect to the Class R Notes on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Highest Enhanced Vehicle Percentage</U>&#8221; means, as of any date of determination, a fraction, expressed as a percentage, (a) the
numerator of which is the aggregate Net Book Value of all Vehicles (other than &#8220;medium duty&#8221; and &#8220;heavy duty&#8221;
trucks) leased under the AESOP I Operating Lease that are either not subject to a Manufacturer Program or not eligible for repurchase
under a Manufacturer Program as of such date and (b) the denominator of which is the aggregate Net Book Value of all Vehicles leased under
the AESOP I Operating Lease as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Highest Enhancement Rate</U>&#8221; means, as of any date of determination, the sum of (a) 13.85%, (b) the greater of (x)&nbsp;the highest,
for any calendar month within the preceding 12 calendar months, of an amount (not less than zero) equal to 100% <U>minus</U> the Measurement
Month Average for the immediately preceding Measurement Month and (y) the highest, for any calendar month within the preceding 3 calendar
months, of an amount (not less than zero) equal to 100% <U>minus</U> the Market Value Average as of the Determination Date within such
calendar month (excluding the Market Value Average for any Determination Date which has not yet occurred) and (c) if (x) the Non-Program
Vehicle Amount is less than or equal to the Series 2022-4 Maximum Non-Program Vehicle Amount as of such date of determination, 0.00%,
(y) the Non-Program Vehicle Amount exceeds the Series 2022-4 Maximum Non-Program Vehicle Amount as of such date of determination but is
less than or equal to 87.5% of the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">aggregate Net Book Value of all Vehicles leased
under the Leases as of such date of determination, 0.50% and (z) the Non-Program Vehicle Amount is greater than 87.5% of the aggregate
Net Book Value of all Vehicles leased under the Leases as of such date of determination, 1.00%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Intermediate Enhanced Vehicle Percentage</U>&#8221; means, as of any date of determination, 100% <U>minus</U> the sum of (a) the Series
2022-4 Moody&#8217;s Lowest Enhanced Vehicle Percentage, (b) the Series 2022-4 Moody&#8217;s Highest Enhanced Vehicle Percentage and (c)
the Series 2022-4 Moody&#8217;s Trucks Percentage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Intermediate Enhancement Rate</U>&#8221; means, as of any date of determination, 9.25%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Lowest Enhanced Vehicle Percentage</U>&#8221; means, as of any date of determination, a fraction, expressed as a percentage, (a) the numerator
of which is the sum, without duplication, of (1) the aggregate Net Book Value of all Program Vehicles (other than &#8220;medium duty&#8221;
and &#8220;heavy duty&#8221; trucks) leased under the AESOP I Operating Lease that are manufactured by Eligible Program Manufacturers
having a long&#45;term corporate family rating of &#8220;Baa3&#8221; or higher from Moody&#8217;s as of such date (or, if any Eligible
Program Manufacturer does not have a long-term corporate family rating from Moody&#8217;s as of such date, a long-term senior unsecured
debt rating of at least &#8220;Ba1&#8221; from Moody&#8217;s as of such date), and (2) so long as any Eligible Non&#45;Program Manufacturer
has a long&#45;term corporate family rating of &#8220;Baa3&#8221; or higher from Moody&#8217;s as of such date (or, if any Eligible Non-Program
Manufacturer does not have a long-term corporate family rating from Moody&#8217;s as of such date, a long-term senior unsecured debt rating
of at least &#8220;Ba1&#8221; from Moody&#8217;s as of such date) and no Manufacturer Event of Default has occurred and is continuing
with respect to such Eligible Non&#45;Program Manufacturer, the aggregate Net Book Value of all Non&#45;Program Vehicles (other than &#8220;medium
duty&#8221; and &#8220;heavy duty&#8221; trucks) leased under the AESOP I Operating Lease manufactured by each such Eligible Non&#45;Program
Manufacturer that are subject to a Manufacturer Program and remain eligible for repurchase thereunder as of such date and (b) the denominator
of which is the aggregate Net Book Value of all Vehicles leased under the AESOP I Operating Lease as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Lowest Enhancement Rate</U>&#8221; means, as of any date of determination, 5.75%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Required Enhancement Amount</U>&#8221; means, as of any date of determination, the product of (i) the Series 2022-4 Moody&#8217;s Required
Enhancement Percentage as of such date and (ii) <FONT STYLE="font-size: 10pt">an amount equal to </FONT>the Series 2022-4 Senior Invested
Amount as of such date <I>minus</I> the Series 2022-4 Allocated Cash Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Required Enhancement Percentage</U>&#8221; means, as of any date of determination, the sum of (i) the product of (A) the Series 2022-4
Moody&#8217;s Lowest Enhancement Rate as of such date and (B) the Series 2022-4 Moody&#8217;s Lowest Enhanced Vehicle Percentage as of
such date, (ii) the product of (A) the Series 2022-4 Moody&#8217;s Intermediate Enhancement Rate as of such date and (B) the Series 2022-4
Moody&#8217;s Intermediate Enhanced Vehicle Percentage as of such date, (iii) the product of (A) the Series 2022-4 Moody&#8217;s Highest</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Enhancement Rate as of such date and (B) the
Series 2022-4 Moody&#8217;s Highest Enhanced Vehicle Percentage as of such date and (iv) the product of (A) the Series 2022-4 Moody&#8217;s
Trucks Enhancement Rate as of such date and (B) the Series 2022-4 Moody&#8217;s Trucks Percentage as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Trucks Percentage</U>&#8221; means, as of any date of determination, a fraction, expressed as a percentage, (a) the numerator of which
is the aggregate Net Book Value of all Vehicles leased under the AESOP I Operating Lease that are that are &#8220;medium duty&#8221; or
&#8220;heavy duty&#8221; trucks as of such date and (b) the denominator of which is the aggregate Net Book Value of all Vehicles leased
under the AESOP I Operating Lease as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Moody&#8217;s
Trucks Enhancement Rate</U>&#8221; means, as of any date of determination, 35.75%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Note
Owner</U>&#8221; means each beneficial owner of a Series 2022-4 Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Noteholder</U>&#8221;
means any Class A Noteholder, any Class B Noteholder, any Class C Noteholder, any Class D Noteholder, any Class R Noteholder or, if the
Class E Notes have been issued, any Class E Noteholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Notes</U>&#8221;
means, collectively, the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes, the Class E Notes (if issued), and the
Class R Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Overcollateralization
Amount</U>&#8221; means the excess, if any, of (x) the Series 2022-4 AESOP I Operating Lease Loan Agreement Borrowing Base as of such
date over (y) the Series 2022-4 Senior Invested Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Past
Due Rent Payment</U>&#8221; is defined in Section 2.2(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Percentage</U>&#8221;
means, as of any date of determination, a fraction, expressed as a percentage, the numerator of which is the Series 2022-4 Invested Amount
as of such date and the denominator of which is the Aggregate Invested Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Principal
Allocation</U>&#8221; is defined in Section 2.2(a)(ii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Rapid
Amortization Period</U>&#8221; means the period beginning at the close of business on the Business Day immediately preceding the day on
which an Amortization Event is deemed to have occurred with respect to the Series 2022-4 Notes and ending upon the earliest to occur of
(i) the date on which the Series 2022-4 Notes are fully paid, (ii) the Series 2022-4 Final Distribution Date and (iii) the termination
of the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Reimbursement
Agreement</U>&#8221; means any and each agreement providing for the reimbursement of a Multi-Series Letter of Credit Provider for draws
under its Multi-Series Letter of Credit as the same may be amended, supplemented, restated or otherwise modified from time to time.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Repurchase
Amount</U>&#8221; is defined in Section 5.1(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Required
AESOP I Operating Lease Vehicle Amount</U>&#8221; means, as of any date of determination, the sum of the Series 2022-4 Invested Amount
and the Series 2022-4 Required Overcollateralization Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Required
Enhancement Amount</U>&#8221; means, as of any date of determination, the sum (without duplication) of (i) the Series 2022-4 Moody&#8217;s
Required Enhancement Amount as of such date, (ii)&nbsp;the Series 2022-4 AESOP I Operating Lease Vehicle Percentage as of the immediately
preceding Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Mitsubishi and leased under
the Leases as of such date over the Series 2022-4 Maximum Mitsubishi Amount as of such date, (iii) the Series 2022-4 AESOP I Operating
Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles
manufactured by Isuzu and leased under the Leases as of such date over the Series 2022-4 Maximum Isuzu Amount as of such date, (iv) the
Series 2022-4 AESOP I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of the aggregate
Net Book Value of all Vehicles manufactured by Subaru and leased under the Leases as of such date over the Series 2022-4 Maximum Subaru
Amount as of such date, (v) the Series 2022-4 AESOP I Operating Lease Vehicle Percentage as of the immediately preceding Business Day
of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Hyundai and leased under the Leases as of such
date over the Series 2022-4 Maximum Hyundai Amount as of such date, (vi) the Series 2022-4 AESOP I Operating Lease Vehicle Percentage
as of the immediately preceding Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Kia
and leased under the Leases as of such date over the Series 2022-4 Maximum Kia Amount as of such date, (vii) the Series 2022-4 AESOP I
Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of the aggregate Net Book Value
of all Vehicles manufactured by Suzuki and leased under the Leases as of such date over the Series 2022-4 Maximum Suzuki Amount as of
such date, (viii) the Series 2022-4 AESOP I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess,
if any, of the aggregate Net Book Value of all Vehicles manufactured by Tesla and leased under the Leases as of such date over the Series
2022-4 Maximum Tesla Amount as of such date, (ix) the Series 2022-4 AESOP I Operating Lease Vehicle Percentage as of the immediately preceding
Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured by Land Rover and leased under the Leases
as of such date over the Series 2022-4 Maximum Land Rover Amount as of such date, (x) the Series 2022-4 AESOP I Operating Lease Vehicle
Percentage as of the immediately preceding Business Day of the excess, if any, of the aggregate Net Book Value of all Vehicles manufactured
by Jaguar and leased under the Leases as of such date over the Series 2022-4 Maximum Jaguar Amount as of such date, (xi) the Series 2022-4
AESOP I Operating Lease Vehicle Percentage as of the immediately preceding Business Day of the excess, if any, of (x) Springing Amendment
Condition (Non-Perfected Lien) is not satisfied, the Specified States Amount as of such date over the Series 2022-4 Maximum Specified
States Amount or (y) if the Springing Amendment Condition (Non-Perfected Lien) is satisfied, the Net Book Value of all Vehicles leased
under the Operating Leases with respect to which the lien under the Indenture is not perfected through a notation of such lien on the
Certificate of Title or otherwise over the Series 2022-4 Maximum Non-Perfected Vehicle Amount (as applicable) as of such date, (xii) the
Series 2022-4 AESOP I</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Operating Lease Vehicle Percentage as of the
immediately preceding Business Day of the excess, if any, of the Non-Eligible Manufacturer Amount as of such date over the Series 2022-4
Maximum Non-Eligible Manufacturer Amount as of such date, (xiii) the Series 2022-4 AESOP I Operating Lease Vehicle Percentage as of the
immediately preceding Business Day of the excess, if any, of the Net Book Value of all Vehicles leased under the Leases as of such date
that were used vehicles at the time of acquisition over the Series 2022-4 Maximum Used Vehicle Amount as of such date and (xiv) if the
Springing Amendment Condition (Trucks) has been satisfied, the Series 2022-4 AESOP I Operating Lease Vehicle Percentage as of the immediately
preceding Business Day of the excess, if any, of the Net Book Value of all Vehicles leased under the Leases as of such date that were
&#8220;medium duty&#8221; or &#8220;heavy duty&#8221; trucks at the time of acquisition over the Series 2022-4 Maximum Medium/Heavy Duty
Truck Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Required
Liquidity Amount</U>&#8221; means, as of any date of determination, an amount equal to the product of 3.50% and the Series 2022-4 Senior
Invested Amount as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Required
Overcollateralization Amount</U>&#8221; means, as of any date of determination, the excess, if any, of the Series 2022-4 Required Enhancement
Amount over the sum of (i) the Series 2022-4 Allocated Multi-Series Letter of Credit Amount as of such date, (ii) the Series 2022-4 Available
Reserve Account Amount on such date and (iii) the amount of cash and Permitted Investments on deposit in the Series 2022-4 Collection
Account (not including amounts allocable to the Series 2022-4 Accrued Interest Account) and the Series 2022-4 Excess Collection Account
on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Required
Reserve Account Amount</U>&#8221; means, for any date of determination, an amount equal to the greater of (a)&nbsp;the excess, if any,
of the Series 2022-4 Required Liquidity Amount as of such date over the Series 2022-4 Allocated Multi-Series Letter of Credit Liquidity
Amount as of such date and (b) the excess, if any, of the Series 2022-4 Required Enhancement Amount as of such date over the Series 2022-4
Enhancement Amount (excluding therefrom the Series 2022-4 Available Reserve Account Amount and calculated after giving effect to any payments
of principal to be made on the Series 2022-4 Notes) as of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Reserve
Account</U>&#8221; is defined in Section 2.7(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Reserve
Account Collateral</U>&#8221; is defined in Section 2.7(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Reserve
Account Surplus</U>&#8221; means, with respect to any Distribution Date, the excess, if any, of the Series 2022-4 Available Reserve Account
Amount over the Series 2022-4 Required Reserve Account Amount on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Revolving
Period</U>&#8221; means the period from and including the Series 2022-4 Closing Date to the earlier of (i)&nbsp;the commencement of the
Series 2022-4 Controlled Amortization Period and (ii) the commencement of the Series 2022-4 Rapid Amortization Period.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Senior
Invested Amount</U>&#8221; means, on any date, the sum of the Class A Invested Amount on such date, the Class B Invested Amount on such
date, the Class C Invested Amount on such date and the Class D Invested Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Senior
Monthly Interest</U>&#8221; means, with respect to any Distribution Date, the sum of the Class A Monthly Interest, the Class B Monthly
Interest, the Class C Monthly Interest and the Class D Monthly Interest, in each case with respect to the Series 2022-4 Interest Period
ended on the day preceding such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Senior
Notes</U>&#8221; means, collectively, the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Shortfall</U>&#8221;
means, on any Distribution Date, the sum of the Class A Shortfall, the Class B Shortfall, the Class C Shortfall and the Class D Shortfall
on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Termination
Date</U>&#8221; means the February 2029 Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Series 2022-4 Trustee&#8217;s
Fees</U>&#8221; means, for any Distribution Date during the Series 2022-4 Rapid Amortization Period on which there exists a Series 2022-4
Lease Interest Payment Deficit, a portion of the fees payable to the Trustee in an amount equal to the product of (i) the Series 2022-4
Percentage as of the beginning of the Series 2022-4 Interest Period ending on the day preceding such Distribution Date and (ii) the fees
owing to the Trustee under the Base Indenture; <U>provided</U>, <U>however</U>, that the Series 2022-4 Trustee&#8217;s Fees in the aggregate
for all Distribution Dates shall not exceed 1.1% of the Series 2022-4 Required AESOP I Operating Lease Vehicle Amount as of the last day
of the Series 2022-4 Revolving Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>SOFR</U>&#8221; means
a rate per annum equal to the secured overnight financing rate as administered by the SOFR Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>SOFR Administrator</U>&#8221;
means the NYFRB (or a successor administrator of the secured overnight financing rate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>SOFR Administrator&#8217;s
Website</U>&#8221; means the NYFRB&#8217;s Website, or any successor source for the secured overnight financing rate identified as such
by the SOFR Administrator from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Springing Amendment
Condition (Non-Perfected Lien)</U>&#8221; means a condition that will be satisfied if ABRCF confirms to the Trustee in writing that is
has implemented, in accordance with the terms of the Related Documents, the amendments set forth in <U>Exhibits J</U>, <U>K</U>, <U>L</U>,
<U>M</U>, <U>N</U>, <U>O</U> and <U>R</U> that ABRCF has determined are required to remove the limitations in the Related Documents related
to Vehicles titled in Ohio, Oklahoma and Nebraska (the liens on which are not perfected) and replace such references with limitations
that would allow a limited amount of Vehicles titled anywhere in the United States to be subject to liens that are not perfected.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Springing Amendment
Condition (Trucks)</U>&#8221; means a condition that will be satisfied if ABRCF confirms to the Trustee in writing that is has implemented,
in accordance with the terms of the Related Documents, the amendments set forth in <U>Exhibits J</U>, <U>K</U>, <U>L</U>, <U>M</U>, <U>N</U>,
<U>O</U> and <U>R</U> that ABRCF has determined are required to allow for &#8220;medium duty&#8221; and &#8220;heavy duty&#8221; trucks
to be considered an &#8220;Eligible Vehicle&#8221; under the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Supplement</U>&#8221;
is defined in the preamble hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class A Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class B Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class C Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class D Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Class R Note</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Temporary Global
Series 2022-4 Notes</U>&#8221; is defined in Section 4.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Termination Date
Disbursement</U>&#8221; means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Date Demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Termination Disbursement</U>&#8221;
means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Transferee</U>&#8221;
has the meaning set forth in Section 5.23(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Transferor</U>&#8221;
has the meaning set forth in Section 5.23(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Trustee</U>&#8221;
is defined in the recitals hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>Unpaid Demand Note
Disbursement</U>&#8221; means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Unpaid Demand Note Demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&#8220;<U>U.S. Government Securities
Business Day</U>&#8221; means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial
Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in
United States government securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>U.S. Risk Retention
Rules</U>&#8221; means the federal interagency credit risk retention rules, codified at 17 C.F.R. Part 246.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">&#8220;<U>U.S. Treasury Rate</U>&#8221;
means, with respect to any Remaining Distribution Amount, a rate determined one Business Day prior to the Optional Repurchase Distribution
Date that is equal to the U.S. Treasury rate on such date (determined by reference to Bloomberg Financial Markets Commodities News) with
a maturity equal to the period from such Optional Repurchase Distribution Date to the Applicable Distribution Date with respect to such
Remaining</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">Distribution Amount (or, if such maturity is
unavailable, such rate shall be determined by linear interpolation using the U.S. Treasury rates with the two closest maturities to such
period).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
amounts calculated by reference to the Series 2022-4 Invested Amount (or any component thereof) on any date shall, unless otherwise stated,
be calculated after giving effect to any payment of principal made to the applicable Class A Noteholders, applicable Class B Noteholders,
applicable Class C Noteholders, applicable Class D Noteholders and applicable Class R Noteholders on such date.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE II<BR>
<BR>
SERIES 2022-4 ALLOCATIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">With respect to the Series
2022-4 Notes, the following shall apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">Section 2.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Establishment of Series 2022-4 Collection Account, Series 2022-4 Excess Collection Account and Series 2022-4 Accrued Interest
Account</U>.</P>

<P STYLE="margin: 0pt 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All Collections allocable to the Series 2022-4 Notes
shall be allocated to the Collection Account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Trustee will create three administrative subaccounts within the Collection Account for the benefit of the Series 2022-4 Noteholders:
the Series 2022-4 Collection Account (such sub&#45;account, the &#8220;<U>Series 2022-4 Collection Account</U>&#8221;), the Series 2022-4
Excess Collection Account (such sub&#45;account, the &#8220;<U>Series 2022-4 Excess Collection Account</U>&#8221;) and the Series 2022-4
Accrued Interest Account (such sub&#45;account, the &#8220;<U>Series 2022-4 Accrued Interest Account</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">Section 2.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations with Respect to the Series 2022-4 Notes</U>. The net proceeds from the initial sale of the Class A Notes, Class
B Notes, Class C Notes, Class D Notes and Class R Notes will be deposited into the Collection Account on the Series 2022-4 Closing Date
and the net proceeds from any issuance of Class E Notes and Additional Class R Notes shall be deposited into the Collection Account on
the Additional Notes Closing Date. On each Business Day on which Collections are deposited into the Collection Account (each such date,
a &#8220;<U>Series 2022-4 Deposit Date</U>&#8221;), the Administrator will direct the Trustee in writing pursuant to the Administration
Agreement to allocate all amounts deposited into the Collection Account in accordance with the provisions of this Section 2.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Allocations
of Collections During the Series 2022-4 Revolving Period</U>. During the Series 2022-4 Revolving Period, the Administrator will direct
the Trustee in writing pursuant to the Administration Agreement to allocate, prior to 11:00&nbsp;a.m. (New York City time) on each Series
2022-4 Deposit Date, all amounts deposited into the Collection Account as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-4 Collection Account an amount equal to the Series 2022-4 Invested Percentage (as of such day) of the
aggregate amount of Interest Collections on such day. All such amounts allocated to the Series 2022-4</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Collection Account shall be further allocated
to the Series 2022-4 Accrued Interest Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-4 Excess Collection Account an amount equal to the Series 2022-4 Invested Percentage (as of such day)
of the aggregate amount of Principal Collections on such day (for any such day, the &#8220;<U>Series 2022-4 Principal Allocation</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations of Collections During the Series 2022-4 Controlled Amortization Period</U>. With respect to the Series 2022-4 Controlled
Amortization Period, the Administrator will direct the Trustee in writing pursuant to the Administration Agreement to allocate, prior
to 11:00 a.m. (New York City time) on any Series 2022-4 Deposit Date, all amounts deposited into the Collection Account as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-4 Collection Account an amount determined as set forth in Section 2.2(a)(i) above for such day, which
amount shall be further allocated to the Series 2022-4 Accrued Interest Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>allocate
to the Series 2022-4 Collection Account an amount equal to the Series 2022-4 Principal Allocation for such day, which amount shall be
used to make principal payments in respect of the Series 2022-4 Notes in accordance with Section 2.5, (A) first, in respect of the Class
A Notes in an amount equal to the Class A Controlled Distribution Amount, (B) second, in respect of the Class B Notes in an amount equal
to the Class B Controlled Distribution Amount, (C) third, in respect of the Class C Notes in an amount equal to the Class C Controlled
Distribution Amount, (D)&nbsp;fourth, in respect of the Class D Notes in an amount equal to the Class D Controlled Distribution Amount
and (E)&nbsp;fifth, in respect of the Class R Notes in an amount equal to the Class R Controlled Amortization Amount, in each case with
respect to the Related Month; <U>provided</U>, <U>however</U>, that if the Monthly Total Principal Allocation exceeds the sum of the
Class A Controlled Distribution Amount, the Class B Controlled Distribution Amount, the Class C Controlled Distribution Amount, the Class
D Controlled Distribution Amount and the Class R Controlled Amortization Amount, in each case with respect to the Related Month, then
the amount of such excess shall be allocated to the Series 2022-4 Excess Collection Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations of Collections During the Series 2022-4 Rapid Amortization Period</U>. With respect to the Series 2022-4 Rapid Amortization
Period, other than after the occurrence of an Event of Bankruptcy with respect to ABCR, any other Lessee or any Permitted Sublessee, the
Administrator will direct the Trustee in writing pursuant to the Administration Agreement to allocate, prior to 11:00 a.m. (New&nbsp;York
City time) on any Series 2022-4 Deposit Date, all amounts deposited into the Collection Account as set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-4 Collection Account an amount determined as set forth in Section 2.2(a)(i) above for such day, which
amount shall be further allocated to the Series 2022-4 Accrued Interest Account; and</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> allocate to the Series 2022-4 Collection Account an amount equal to the Series 2022-4 Principal Allocation for such day, which
amount shall be used in accordance with Section 2.5 to make principal payments in respect of the Class A Notes until the Class A Notes
have been paid in full, and after the Class A Notes have been paid in full shall be used to make principal payments in respect of the
Class B Notes until the Class B Notes have been paid in full, and after the Class A Notes and the Class B Notes have been paid in full
shall be used to make principal payments in respect of the Class C Notes until the Class C Notes have been paid in full, and after the
Class A Notes, the Class B Notes and the Class C Notes have been paid in full shall be used to make principal payments in respect of the
Class D Notes until the Class D Notes have been paid in full, and after the Class A Notes, the Class B Notes, the Class C Notes and the
Class D Notes have been paid in full (including interest thereon) shall be used to make principal payments in respect of the Class R Notes
until the Class R Notes have been paid in full; <U>provided</U>, <U>however</U>, that if on any Determination Date (A) the Administrator
determines that the amount anticipated to be available from Interest Collections allocable to the Series 2022-4 Notes and other amounts
available pursuant to Section 2.3 to pay the sum of (x) the Series 2022-4 Senior Monthly Interest for the next succeeding Distribution
Date and (y) any unpaid Series 2022-4 Shortfall on such Distribution Date (together with interest on such Series 2022-4 Shortfall) will
be less than the sum of (I) the Series 2022-4 Senior Monthly Interest for such Distribution Date and (II) such Series 2022-4 Shortfall
(together with interest thereon) and (B) the Series 2022-4 Enhancement Amount is greater than zero, then the Administrator shall direct
the Trustee in writing to reallocate a portion of the Principal Collections allocated to the Series 2022-4 Notes during the Related Month
equal to the lesser of such insufficiency and the Series 2022-4 Enhancement Amount to the Series 2022-4 Accrued Interest Account to be
treated as Interest Collections on such Distribution Date; <U>provided further</U>, <U>however</U>, that if on any Determination Date
the Administrator determines that, after giving effect the preceding proviso, the amount anticipated to be available from Interest Collections
allocable to the Series 2022-4 Notes and other amounts available pursuant to <U>Section 2.3</U> to pay the sum of (x) the Series 2022-4
Senior Monthly Interest for the next succeeding Distribution Date and (y) any unpaid Series 2022-4 Shortfall on such Distribution Date
(together with interest on such Series 2022-4 Shortfall) will be less than the sum of (I) the Series 2022-4 Senior Monthly Interest for
such Distribution Date and (II) such Series 2022-4 Shortfall (together with interest thereon), then the Administrator shall direct the
Trustee in writing to reallocate a portion of the Principal Collections allocated to the Series 2022-4 Notes during the Related Month
equal to the lesser of (1) the amount of such Principal Collections that is anticipated to remain after the payment of the Series 2022-4
Senior Invested Amount in full, and (2) any such interest due and owing in respect of the Class A Notes, the Class B Notes, the Class
C Notes or the Class D Notes to the 2022-4 Accrued Interest Account to be treated as Interest Collections on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations of Collections after the Occurrence of an Event of Bankruptcy</U>. After the occurrence of an Event of Bankruptcy
with respect to ABCR, any other Lessee or any Permitted Sublessee, the Administrator will direct the Trustee in writing pursuant to the
Administration Agreement to allocate, prior to 11:00 a.m. (New&nbsp;York City time) on any Series 2022-4 Deposit Date, all amounts attributable
to the AESOP I Operating Lease Loan Agreement deposited into the Collection Account as set forth below:</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> allocate to the Series 2022-4 Collection Account an amount equal to the Series 2022-4 AESOP I Operating Lease Vehicle Percentage
as of the date of the occurrence of such Event of Bankruptcy of the aggregate amount of Interest Collections made under the AESOP I Operating
Lease Loan Agreement for such day. All such amounts allocated to the Series 2022-4 Collection Account shall be further allocated to the
Series 2022-4 Accrued Interest Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-4 Collection Account an amount equal to the Series 2022-4 AESOP I Operating Lease Vehicle Percentage
as of the date of the occurrence of such Event of Bankruptcy of the aggregate amount of Principal Collections made under the AESOP I Operating
Lease Loan Agreement, which amount shall be used in accordance with <U>Section 2.5</U>, to make principal payments in respect of the Class
A Notes until the Class A Notes have been paid in full, and after the Class A Notes have been paid in full shall be used to make principal
payments in respect of the Class B Notes until the Class B Notes have been paid in full, and after the Class A Notes and the Class B Notes
have been paid in full shall be used to make principal payments in respect of the Class C Notes until the Class C Notes have been paid
in full, and after the Class A Notes, the Class B Notes and the Class C Notes have been paid in full shall be used to make principal payments
in respect of the Class D Notes until the Class D Notes have been paid in full, and after the Class A Notes, the Class B Notes, the Class
C Notes and the Class D Notes have been paid in full (including interest thereon), shall be used to make principal payments in respect
of the Class R Notes until the Class R Notes have been paid in full; <U>provided</U>, <U>however</U>, that if on any Determination Date
(A) the Administrator determines that the amount anticipated to be available from Interest Collections allocable to the Series 2022-4
Notes and other amounts available pursuant to <U>Section 2.3</U> to pay the sum of (x) the Series 2022-4 Senior Monthly Interest for the
next succeeding Distribution Date and (y) any unpaid Series 2022-4 Shortfall on such Distribution Date (together with interest on such
Series 2022-4 Shortfall) will be less than the sum of (I) the Series 2022-4 Senior Monthly Interest for such Distribution Date and (II)
such Series 2022-4 Shortfall (together with interest thereon) and (B) the Series 2022-4 Enhancement Amount is greater than zero, then
the Administrator shall direct the Trustee in writing to reallocate a portion of the Principal Collections allocated to the Series 2022-4
Notes during the Related Month equal to the lesser of such insufficiency and the Series 2022-4 Enhancement Amount to the Series 2022-4
Accrued Interest Account to be treated as Interest Collections on such Distribution Date; <U>provided further</U>, <U>however</U>, that
if on any Determination Date the Administrator determines that, after giving effect the preceding proviso, the amount anticipated to be
available from Interest Collections allocable to the Series 2022-4 Notes and other amounts available pursuant to <U>Section 2.3</U> to
pay the sum of (x) the Series 2022-4 Senior Monthly Interest for the next succeeding Distribution Date and (y) any unpaid Series 2022-4
Shortfall on such Distribution (together with interest in such Series 2022-4 Shortfall), will be less than the sum of (I) the Series 2022-4
Senior Monthly Interest for such Distribution Date and (II) such Series 2022-4 Shortfall (together with interest thereon), then the Administrator
shall direct the Trustee in writing to reallocate any portion of the Principal Collections allocated to the Series 2022-4 Notes during
the Related Month equal to the lesser of (1) the amount of such Principal Collections that is anticipated to remain after the payment
of the Series 2022-4 Senior Invested Amount in full, and (2) any such interest due and owing in respect of the Class</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">A Notes, the Class B Notes, the Class
C Notes or the Class D Notes to the 2022-4 Accrued Interest Account to be treated as Interest Collections on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Excess Collection Account</U>. Amounts allocated to the Series 2022-4 Excess Collection Account on any Series
2022-4 Deposit Date will be (w) first, deposited in the Series 2022-4 Reserve Account in an amount up to the excess, if any, of the Series
2022-4 Required Reserve Account Amount for such date over the Series 2022-4 Available Reserve Account Amount for such date, (x) second,
used to pay the principal amount of other Series of Notes that are then in amortization, (y) third, released to AESOP Leasing in an amount
equal to the product of (A) the Loan Agreement&#8217;s Share with respect to the AESOP I Operating Lease Loan Agreement as of such date
and (B) 100% <U>minus</U> the Loan Payment Allocation Percentage with respect to the AESOP I Operating Lease Loan Agreement as of such
date and (C) the amount of any remaining funds and (z) fourth, paid to ABRCF for any use permitted by the Related Documents including
to make Loans under the Loan Agreements to the extent the Borrowers have requested Loans thereunder and Eligible Vehicles are available
for financing thereunder; <U>provided</U>, <U>however</U>, that in the case of clauses (x), (y) and (z), that no Amortization Event, Series
2022-4 Enhancement Deficiency or AESOP I Operating Lease Vehicle Deficiency would result therefrom or exist immediately thereafter. Upon
the occurrence of an Amortization Event and once a Trust Officer has actual knowledge of the Amortization Event, funds on deposit in the
Series 2022-4 Excess Collection Account will be withdrawn by the Trustee, deposited in the Series 2022-4 Collection Account and allocated
as Principal Collections to reduce the Series 2022-4 Invested Amount on the immediately succeeding Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Allocations From Other Series</U>. Amounts allocated to other Series of Notes that have been reallocated by ABRCF to the Series
2022-4 Notes (i) during the Series 2022-4 Revolving Period shall be allocated to the Series 2022-4 Excess Collection Account and applied
in accordance with Section 2.2(e) and (ii) during the Series 2022-4 Controlled Amortization Period or the Series 2022-4 Rapid Amortization
Period shall be allocated to the Series 2022-4 Collection Account and applied in accordance with Section&nbsp;2.2(b) or 2.2(c), as applicable,
to make principal payments in respect of the Series 2022-4 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Past Due Rent Payments</U>. Notwithstanding the foregoing, if in the case of Section 2.2(a) or (b), after the occurrence of
a Series 2022-4 Lease Payment Deficit, the Lessees shall make payments of Monthly Base Rent or other amounts payable by the Lessees under
the Leases on or prior to the fifth Business Day after the occurrence of such Series 2022-4 Lease Payment Deficit (a &#8220;<U>Past Due
Rent Payment</U>&#8221;), the Administrator shall direct the Trustee in writing pursuant to the Administration Agreement to allocate to
the Series 2022-4 Collection Account an amount equal to the Series 2022-4 Invested Percentage as of the date of the occurrence of such
Series 2022-4 Lease Payment Deficit of the Collections attributable to such Past Due Rent Payment (the &#8220;<U>Series 2022-4 Past Due
Rent Payment</U>&#8221;). The Administrator shall instruct the Trustee in writing pursuant to the Administration Agreement to withdraw
from the Series 2022-4 Collection Account and apply the Series 2022-4 Past Due Rent Payment in the following order:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the occurrence of such Series 2022-4 Lease Payment Deficit resulted in one or more Lease Deficit Disbursements being made under
the Multi-Series Letters of Credit, pay to each Multi-Series Letter of Credit Provider who made such a</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Lease Deficit Disbursement for application
in accordance with the provisions of the applicable Series 2022-4 Reimbursement Agreement an amount equal to the lesser of (x)&nbsp;the
unreimbursed amount of such Multi-Series Letter of Credit Provider&#8217;s Lease Deficit Disbursement and (y) such Multi-Series Letter
of Credit Provider&#8217;s Pro Rata Share of the Series 2022-4 Past Due Rent Payment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the occurrence of such Series 2022-4 Lease Payment Deficit resulted in a withdrawal being made from the Series 2022-4 Cash Collateral
Account, deposit in the Series 2022-4 Cash Collateral Account an amount equal to the lesser of (x) the amount of the Series 2022-4 Past
Due Rent Payment remaining after any payment pursuant to clause (i) above and (y) the amount withdrawn from the Series 2022-4 Cash Collateral
Account on account of such Series 2022-4 Lease Payment Deficit;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the occurrence of such Series 2022-4 Lease Payment Deficit resulted in a withdrawal being made from the Series 2022-4 Reserve
Account pursuant to Section 2.3(d), deposit in the Series 2022-4 Reserve Account an amount equal to the lesser of (x) the amount of the
Series 2022-4 Past Due Rent Payment remaining after any payments pursuant to clauses (i) and (ii) above and (y) the excess, if any, of
the Series 2022-4 Required Reserve Account Amount over the Series 2022-4 Available Reserve Account Amount on such day;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>allocate to the Series 2022-4 Accrued Interest Account the amount, if any, by which the Series 2022-4 Lease Interest Payment Deficit,
if any, relating to such Series 2022-4 Lease Payment Deficit exceeds the amount of the Series 2022-4 Past Due Rent Payment applied pursuant
to clauses (i), (ii) and (iii) above; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>treat the remaining amount of the Series 2022-4 Past Due Rent Payment as Principal Collections allocated to the Series 2022-4 Notes
in accordance with Section 2.2(a)(ii) or 2.2(b)(ii), as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payments to Noteholders</U>. On each Determination Date, as provided below, the Administrator shall instruct the Paying Agent
in writing pursuant to the Administration Agreement to withdraw, and on the following Distribution Date the Paying Agent, acting in accordance
with such instructions, shall withdraw the amounts required to be withdrawn from the Collection Account pursuant to Section&nbsp;2.3(a)
below in respect of all funds available from Interest Collections processed since the preceding Distribution Date and allocated to the
holders of the Series 2022-4 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Note Interest with Respect to the Series 2022-4 Notes</U>. On each Determination Date, the Administrator shall instruct the
Trustee and the Paying Agent in writing pursuant to the Administration Agreement as to the amount to be withdrawn and paid pursuant to
Section 2.4 from the Series 2022-4 Accrued Interest Account to the extent funds are anticipated to be available from Interest Collections
allocable to the Series 2022-4 Notes processed from but not including the preceding Distribution Date through the succeeding Distribution
Date in respect of (i) an amount equal to the Class A Monthly Interest for the Series 2022-4 Interest Period ending on the day preceding
the related Distribution Date, (ii) an amount equal to the amount of any unpaid Class A Shortfall as of the preceding Distribution Date
(together with any</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">accrued interest on such Class A Shortfall),
(iii) an amount equal to the Class B Monthly Interest for the Series 2022-4 Interest Period ending on the day preceding the related Distribution
Date, (iv) an amount equal to the amount of any unpaid Class B Shortfall as of the preceding Distribution Date (together with any accrued
interest on such Class B Shortfall), (v) an amount equal to the Class C Monthly Interest for the Series 2022-4 Interest Period ending
on the day preceding the related Distribution Date, (vi) an amount equal to the amount of any unpaid Class C Shortfall as of the preceding
Distribution Date (together with any accrued interest on such Class C Shortfall), (vii) an amount equal to the Class D Monthly Interest
for the Series 2022-4 Interest Period ending on the day preceding the related Distribution Date, (viii) an amount equal to the amount
of any unpaid Class D Shortfall as of the preceding Distribution Date (together with any accrued interest on such Class D Shortfall),
(ix) an amount equal to the Class R Monthly Interest for the Series 2022-4 Interest Period ending on the day preceding the related Distribution
Date and (x) an amount equal to the amount of any unpaid Class R Shortfall as of the preceding Distribution Date (together with any accrued
interest on such Class R Shortfall). On the following Distribution Date, the Trustee shall withdraw the amounts described in the first
sentence of this Section 2.3(a) from the Series 2022-4 Accrued Interest Account and deposit such amounts in the Series 2022-4 Distribution
Account. For the avoidance of doubt, no interest shall accrue or be due and payable with respect to the Class D Notes for so long as ABRCF
owns 100% of the Class D Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Lease Payment Deficit Notice</U>. On or before 3:00 p.m. (New York City time) on the Business Day immediately preceding each
Distribution Date, the Administrator shall notify the Trustee of the amount of any Series 2022-4 Lease Payment Deficit, such notification
to be in the form of <U>Exhibit H</U> (each a &#8220;<U>Lease Payment Deficit Notice</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Draws on Multi-Series Letters of Credit For Series 2022-4 Lease Interest Payment Deficits</U>. If the Administrator determines
on the Business Day immediately preceding any Distribution Date that on such Distribution Date there will exist a Series 2022-4 Lease
Interest Payment Deficit, the Administrator shall, on or prior to 3:00 p.m. (New York City time) on such Business Day, instruct the Trustee
in writing to draw on the Multi-Series Letters of Credit, if any, and, the Trustee shall, by 5:00 p.m. (New York City time) on such Business
Day draw an amount as set forth in such notice equal to the least of (i) such Series 2022-4 Lease Interest Payment Deficit, (ii) the excess,
if any, of the sum of (A) the amounts described in clauses (i) through (vi) of Section 2.3(a) above for such Distribution Date and (B)
during the Series 2022-4 Rapid Amortization Period, the Series 2022-4 Trustee&#8217;s Fees for such Distribution Date, over the amounts
available from the Series 2022-4 Accrued Interest Account and (iii) the Series 2022-4 Allocated Multi-Series Letter of Credit Liquidity
Amount on the Multi-Series Letters of Credit by presenting to each Multi-Series Letter of Credit Provider a draft accompanied by a Certificate
of Lease Deficit Demand and shall cause the Lease Deficit Disbursements to be deposited in the Series 2022-4 Distribution Account on such
date; <U>provided</U>, <U>however</U>, that if the Series 2022-4 Cash Collateral Account has been established and funded, the Trustee
shall withdraw from the Series 2022-4 Cash Collateral Account and deposit in the Series 2022-4 Distribution Account an amount equal to
the lesser of (x) the Series 2022-4 Cash Collateral Percentage on such date of the least of the amounts described in clauses (i), (ii)
and (iii) above and (y) the Series 2022-4 Available Cash Collateral Account Amount on such date and draw an amount equal to the remainder
of such amount on the Multi-Series Letters of Credit.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <U>Withdrawals from Series 2022-4 Reserve Account</U>. If the Administrator determines on any Distribution Date that the amounts
available from the Series 2022-4 Accrued Interest Account <U>plus</U> the amount, if any, to be drawn under the Multi-Series Letters of
Credit and/or withdrawn from the Series 2022-4 Cash Collateral Account pursuant to Section 2.3(c) are insufficient to pay the sum of (A)
the amounts described in clauses (i) through (vi) of Section&nbsp;2.3(a) above on such Distribution Date and (B) during the Series 2022-4
Rapid Amortization Period, the Series 2022-4 Trustee&#8217;s Fees for such Distribution Date, the Administrator shall instruct the Trustee
in writing to withdraw from the Series 2022-4 Reserve Account and deposit in the Series 2022-4 Distribution Account on such Distribution
Date an amount equal to the lesser of the Series 2022-4 Available Reserve Account Amount and such insufficiency. The Trustee shall withdraw
such amount from the Series 2022-4 Reserve Account and deposit such amount in the Series 2022-4 Distribution Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>[RESERVED].</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Balance</U>. On or prior to the second Business Day preceding each Distribution Date, the Administrator shall instruct the Trustee
and the Paying Agent in writing pursuant to the Administration Agreement to pay the balance (after making the payments required in Section
2.4), if any, of the amounts available from the Series 2022-4 Accrued Interest Account and the Series 2022-4 Distribution Account, <U>plus</U>
the amount, if any, drawn under the Multi-Series Letters of Credit and/or withdrawn from the Series 2022-4 Cash Collateral Account pursuant
to Section 2.3(c) <U>plus</U> the amount, if any, withdrawn from the Series 2022-4 Reserve Account pursuant to Section 2.3(d) as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on each Distribution Date during the Series 2022-4 Revolving Period or the Series 2022-4 Controlled Amortization Period, (1) first,
to the Administrator, an amount equal to the Series 2022-4 Percentage as of the beginning of the Series 2022-4 Interest Period ending
on the day preceding such Distribution Date of the portion of the Monthly Administration Fee payable by ABRCF (as specified in clause
(iii) of the definition thereof) for such Series 2022-4 Interest Period, (2) second, to the Trustee, an amount equal to the Series 2022-4
Percentage as of the beginning of such Series 2022-4 Interest Period of the fees owing to the Trustee under the Base Indenture for such
Series 2022-4 Interest Period, (3) third to pay any Carrying Charges (other than Carrying Charges provided for above) to the Persons to
whom such amounts are owed, an amount equal to the Series 2022-4 Percentage as of the beginning of such Series 2022-4 Interest Period
of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-4 Interest Period and (4) fourth, the balance,
if any, shall be withdrawn by the Paying Agent from the Series 2022-4 Collection Account and deposited in the Series 2022-4 Excess Collection
Account; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on each Distribution Date during the Series 2022-4 Rapid Amortization Period, (1) first, to the Trustee, an amount equal to the
Series 2022-4 Percentage as of the beginning of such Series 2022-4 Interest Period ending on the day preceding such Distribution Date
of the fees owing to the Trustee under the Base Indenture for such Series 2022-4 Interest Period, (2) second, to the Administrator, an
amount equal to the Series 2022-4 Percentage as of the beginning of such Series 2022-4 Interest Period of the portion of the Monthly Administration
Fee (as specified in clause</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(iii) of the definition thereof) payable
by ABRCF for such Series 2022-4 Interest Period, (3) third, to pay any Carrying Charges (other than Carrying Charges provided for above)
to the Persons to whom such amounts are owed, an amount equal to the Series 2022-4 Percentage as of the beginning of such Series 2022-4
Interest Period of such Carrying Charges (other than Carrying Charges provided for above) for such Series 2022-4 Interest Period and (4)
fourth, so long as the Series 2022-4 Invested Amount is greater than the Monthly Total Principal Allocations for the Related Month, an
amount equal to the excess of the Series 2022-4 Invested Amount over the Monthly Total Principal Allocations for the Related Month shall
be treated as Principal Collections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Shortfalls</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> If the amounts described in Section 2.3 are insufficient to pay the Class A Monthly Interest on any Distribution Date, payments
of interest to the Class A Noteholders will be reduced on a <U>pro rata</U> basis by the amount of such deficiency. The aggregate amount,
if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to
all prior Distribution Dates, shall be referred to as the &#8220;<U>Class A Shortfall</U>&#8221;. Interest shall accrue on the Class A
Shortfall at the Class A Note Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) and (ii) of Section 2.3(a)
and the Class B Monthly Interest on any Distribution Date, payments of interest to the Class B Noteholders will be reduced on a <U>pro
rata</U> basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which deficiency
on any Distribution Date shall not exceed the Class B Monthly Interest for the Series 2022-4 Interest Period ended on the day preceding
such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates,
shall be referred to as the &#8220;<U>Class B Shortfall</U>&#8221;. Interest shall accrue on the Class B Shortfall at the Class B Note
Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) through (iv) of Section 2.3(a)
and the Class C Monthly Interest on any Distribution Date, payments of interest to the Class C Noteholders will be reduced on a <U>pro
rata</U> basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which deficiency
on any Distribution Date shall not exceed the Class C Monthly Interest for the Series 2022-4 Interest Period ended on the day preceding
such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates,
shall be referred to as the &#8220;<U>Class C Shortfall</U>&#8221;. Interest shall accrue on the Class C Shortfall at the Class C Note
Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) through (vi) of Section 2.3(a)
and the Class D Monthly Interest on any Distribution Date, payments of interest to the Class D Noteholders will be reduced on a <U>pro
rata</U> basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which deficiency
on any Distribution</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Date shall not exceed the Class D Monthly
Interest for the Series 2022-4 Interest Period ended on the day preceding such Distribution Date), together with the aggregate unpaid
amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the &#8220;<U>Class D Shortfall</U>&#8221;.
Interest shall accrue on the Class D Shortfall at the Class D Note Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the amounts described in Section 2.3 are insufficient to pay the amounts described in clauses (i) through (viii) of Section
2.3(a) and the Class R Monthly Interest on any Distribution Date, payments of interest to the Class R Noteholders will be reduced on a
<U>pro rata</U> basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date (which
deficiency on any Distribution Date shall not exceed the Class R Monthly Interest for the Series 2022-4 Interest Period ended on the day
preceding such Distribution Date), together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution
Dates, shall be referred to as the &#8220;<U>Class R Shortfall</U>&#8221;. Interest shall accrue on the Class R Shortfall at the Class
R Note Rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Note Interest</U>. (a) On each Distribution Date, subject to Section 9.8 of the Base Indenture, the Paying Agent
shall, in accordance with Section 6.1 of the Base Indenture, pay the following amounts in the following order of priority from amounts
deposited into the Series 2022-4 Distribution Account pursuant to Section 2.3:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>first</U>, to the Class A Noteholders, the amounts due to the Class A Noteholders described in Sections 2.3(a)(i) and (ii);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>second</U>, to the Class B Noteholders, the amounts due to the Class B Noteholders described in Sections 2.3(a)(iii) and (iv);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>third</U>, to the Class C Noteholders, the amounts due to the Class C Noteholders described in Sections 2.3(a)(v) and (vi);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>fourth</U>, to the Class D Noteholders, the amounts due to the Class D Noteholders described in Sections 2.3(a)(vii) and (viii);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>fifth</U>, to the Class R Noteholders, the amounts due to the Class R Noteholders described in Sections 2.3(a)(ix) and (x).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Note Principal</U>.</P>

<P STYLE="text-align: justify; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Monthly Payments During Controlled Amortization Period
or Rapid Amortization Period</U>. On each Determination Date, commencing on the second Determination Date during the Series 2022-4 Controlled
Amortization Period or the first Determination Date after the commencement of the Series 2022-4 Rapid Amortization Period, the Administrator
shall instruct the Trustee and the Paying Agent in writing pursuant to the Administration Agreement and in accordance with this Section&nbsp;2.5
as to (1) the amount allocated to the Series 2022-4 Notes during the Related Month pursuant to Section 2.2(b)(ii), (c)(ii) or (d)(ii),
as the case may be, (2) any amounts to be drawn on the Series 2022-4 Demand Notes and/or on the Multi-Series Letters of Credit (or withdrawn
from the Series 2022-4 Cash Collateral Account)</FONT></P>


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<P STYLE="text-align: justify; margin: 0 0 12pt"><FONT STYLE="font-size: 10pt">pursuant to this Section 2.5 and (3) any amounts to be withdrawn from the Series 2022-4
Reserve Account pursuant to this Section 2.5 and deposited into the Series 2022-4 Distribution Account. On the Distribution Date following
each such Determination Date, the Trustee shall withdraw the amount allocated to the Series 2022-4 Notes during the Related Month pursuant
to Section 2.2(b)(ii), (c)(ii) or (d)(ii), as the case may be, from the Series 2022-4 Collection Account and deposit such amount in the
Series 2022-4 Distribution Account, to be paid to the holders of the Series 2022-4 Notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Principal Draws on Multi-Series Letters of Credit</U>. If the Administrator determines on the Business Day immediately preceding
any Distribution Date during the Series 2022-4 Rapid Amortization Period that on such Distribution Date there will exist a Series 2022-4
Lease Principal Payment Deficit, the Administrator shall instruct the Trustee in writing to draw on the Multi-Series Letters of Credit,
if any, as provided below. Upon receipt of a notice by the Trustee from the Administrator in respect of a Series 2022-4 Lease Principal
Payment Deficit on or prior to 3:00 p.m. (New York City time) on the Business Day immediately preceding a Distribution Date, the Trustee
shall, by 5:00 p.m. (New York City time) on such Business Day draw an amount as set forth in such notice equal to the least of (i) such
Series 2022-4 Lease Principal Payment Deficit, (ii) the Principal Deficit Amount for such Distribution Date and (iii)&nbsp;the Series
2022-4 Allocated Multi-Series Letter of Credit Liquidity Amount on the Multi-Series Letters of Credit by presenting to each Multi-Series
Letter of Credit Provider a draft accompanied by a Certificate of Lease Deficit Demand and shall cause the Lease Deficit Disbursements
to be deposited in the Series 2022-4 Distribution Account on such date; <U>provided</U>, <U>however</U>, that if the Series 2022-4 Cash
Collateral Account has been established and funded, the Trustee shall withdraw from the Series 2022-4 Cash Collateral Account and deposit
in the Series 2022-4 Distribution Account an amount equal to the lesser of (x) the Series 2022-4 Cash Collateral Percentage for such date
of the lesser of the Series 2022-4 Lease Principal Payment Deficit and the Principal Deficit Amount for such Distribution Date and (y)
the Series 2022-4 Available Cash Collateral Account Amount on such date and draw an amount equal to the remainder of such amount on the
Multi-Series Letters of Credit. Notwithstanding any of the preceding to the contrary, during the period after the date of the filing by
any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code until the date on which each of the Lessees shall
have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating
Lease, the Administrator shall only instruct the Trustee to draw on the Multi-Series Letters of Credit (or withdraw from the Series 2022-4
Cash Collateral Account, if applicable) pursuant to this Section 2.5(b), and the Trustee shall only draw (or withdraw), an amount equal
to the lesser of (i) the amount determined as provided in the preceding sentence and (ii) the excess, if any, of (x) the Series 2022-4
Liquidity Amount on such date over (y) the Series 2022-4 Required Liquidity Amount on such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Final Distribution Date</U>. Each of the entire Class A Invested Amount, the entire Class B Invested Amount, the entire Class
C Invested Amount, the entire Class D Invested Amount and the entire Class R Invested Amount shall be due and payable on the Series 2022-4
Final Distribution Date. In connection therewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Demand Note Draw</U>. If the amount to be deposited in the Series 2022-4 Distribution Account in accordance with Section 2.5(a)
together with any</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">amounts to be deposited therein in accordance
with Section 2.5(b) on the Series 2022-4 Final Distribution Date is less than the Series 2022-4 Senior Invested Amount and there are any
Multi-Series Letters of Credit on such date, then, prior to 10:00 a.m. (New York City time) on the second Business Day prior to the Series
2022-4 Final Distribution Date, the Administrator shall instruct the Trustee in writing to make a demand (a &#8220;<U>Demand Notice</U>&#8221;)
substantially in the form attached hereto as <U>Exhibit I</U> on the Demand Note Issuers for payment under the Series 2022-4 Demand Notes
in an amount equal to the lesser of (i) such insufficiency and (ii) the Series 2022-4 Allocated Multi-Series Letter of Credit Amount.
The Trustee shall, prior to 12:00 noon (New York City time) on the second Business Day preceding such Series 2022-4 Final Distribution
Date deliver such Demand Notice to the Demand Note Issuers; <U>provided</U>, <U>however</U>, that if an Event of Bankruptcy (or the occurrence
of an event described in clause (a) of the definition thereof, without the lapse of a period of sixty (60) consecutive days) with respect
to a Demand Note Issuer shall have occurred and be continuing, the Trustee shall not be required to deliver such Demand Notice to such
Demand Note Issuer. The Trustee shall cause the proceeds of any demand on the Series 2022-4 Demand Notes to be deposited into the Series
2022-4 Distribution Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Letter of Credit Draw</U>. In the event that either (x) on or prior to 10:00 a.m. (New York City time) on the Business Day immediately
preceding the Series 2022-4 Final Distribution Date a Demand Notice has been transmitted by the Trustee to the Demand Note Issuers pursuant
to clause (i) of this Section 2.5(c) and any Demand Note Issuer shall have failed to pay to the Trustee or deposit into the Series 2022-4
Distribution Account the amount specified in such Demand Notice in whole or in part or (y) due to the occurrence of an Event of Bankruptcy
(or the occurrence of an event described in clause (a) of the definition thereof, without the lapse of a period of sixty (60) consecutive
days) with respect to one or more of the Demand Note Issuers, the Trustee shall not have delivered such Demand Notice to any Demand Note
Issuer on the second Business Day preceding the Series 2022-4 Final Distribution Date, then, in the case of (x) or (y) the Trustee shall
draw on the Multi-Series Letters of Credit by 12:00 noon (New York City time) on such Business Day an amount equal to the lesser of (a)
the amount that the Demand Note Issuers so failed to pay under the Series 2022-4 Demand Notes (or, the amount that the Trustee failed
to demand for payment thereunder) and (b) the Series 2022-4 Allocated Multi-Series Letter of Credit Amount on such Business Day by presenting
to each Multi-Series Letter of Credit Provider a draft accompanied by a Certificate of Unpaid Demand Note Demand; <U>provided</U>, <U>however</U>,
that if the Series 2022-4 Cash Collateral Account has been established and funded, the Trustee shall withdraw from the Series 2022-4 Cash
Collateral Account and deposit in the Series 2022-4 Distribution Account an amount equal to the lesser of (x) the Series 2022-4 Cash Collateral
Percentage on such Business Day of the amount that the Demand Note Issuers so failed to pay under the Series 2022-4 Demand Notes (or,
the amount that the Trustee failed to demand for payment thereunder) and (y) the Series 2022-4 Available Cash Collateral Account Amount
on such Business Day and draw an amount equal to the remainder of the amount that the Demand Note Issuers failed to pay under the Series
2022-4 Demand Notes (or, the amount that the Trustee failed to demand for payment thereunder) on the Multi-Series Letters of Credit. The
Trustee shall deposit, or cause the deposit of, the applicable portion of the proceeds of any draw on the Multi-Series Letters</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">of Credit related to the Series 2022-4
Notes and the proceeds of any withdrawal from the Series 2022-4 Cash Collateral Account to be deposited in the Series 2022-4 Distribution
Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reserve Account Withdrawal</U>. If, after giving effect to the deposit into the Series 2022-4 Distribution Account of the amount
to be deposited in accordance with Section 2.5(a) and the amounts described in clauses (i) and (ii) of this Section 2.5(c), the amount
to be deposited in the Series 2022-4 Distribution Account with respect to the Series 2022-4 Final Distribution Date is or will be less
than the Series 2022-4 Senior Invested Amount, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such
Series 2022-4 Final Distribution Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2022-4 Reserve
Account, an amount equal to the lesser of the Series 2022-4 Available Reserve Account Amount and such remaining insufficiency and deposit
it in the Series 2022-4 Distribution Account on such Series 2022-4 Final Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Principal Deficit Amount</U>. On each Distribution Date, other than the Series 2022-4 Final Distribution Date, on which the
Principal Deficit Amount is greater than zero, amounts shall be transferred to the Series 2022-4 Distribution Account as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Demand Note Draw</U>. If on any Determination Date, the Administrator determines that the Principal Deficit Amount with respect
to the next succeeding Distribution Date will be greater than zero and there are any Multi-Series Letters of Credit on such date, prior
to 10:00 a.m. (New York City time) on the second Business Day prior to such Distribution Date, the Administrator shall instruct the Trustee
in writing to deliver a Demand Notice to the Demand Note Issuers demanding payment of an amount equal to the lesser of (A) the Principal
Deficit Amount and (B) the Series 2022-4 Allocated Multi-Series Letter of Credit Amount. The Trustee shall, prior to 12:00 noon (New York
City time) on the second Business Day preceding such Distribution Date, deliver such Demand Notice to the Demand Note Issuers; <U>provided</U>,
<U>however</U>, that if an Event of Bankruptcy (or the occurrence of an event described in clause (a) of the definition thereof, without
the lapse of a period of sixty (60) consecutive days) with respect to a Demand Note Issuer shall have occurred and be continuing, the
Trustee shall not be required to deliver such Demand Notice to such Demand Note Issuer. The Trustee shall cause the proceeds of any demand
on the Series 2022-4 Demand Note to be deposited into the Series 2022-4 Distribution Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Letter of Credit Draw</U>. In the event that either (x) on or prior to 10:00 a.m. (New York City time) on the Business Day prior
to such Distribution Date, any Demand Note Issuer shall have failed to pay to the Trustee or deposit into the Series 2022-4 Distribution
Account the amount specified in such Demand Notice in whole or in part or (y) due to the occurrence of an Event of Bankruptcy (or the
occurrence of an event described in clause (a) of the definition thereof, without the lapse of a period of sixty (60) consecutive days)
with respect to any Demand Note Issuer, the Trustee shall not have delivered such Demand Notice to any Demand Note Issuer on the second
Business Day preceding such Distribution Date, then, in the case of (x) or (y) the Trustee shall on such Business Day draw on the Multi-Series
Letters of Credit an amount equal to the lesser of</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(i)&nbsp;Series 2022-4 Allocated Multi-Series
Letter of Credit Amount and (ii)&nbsp;the aggregate amount that the Demand Note Issuers failed to pay under the Series 2022-4 Demand Notes
(or, the amount that the Trustee failed to demand for payment thereunder) by presenting to each Multi-Series Letter of Credit Provider
a draft accompanied by a Certificate of Unpaid Demand Note Demand; <U>provided</U>, <U>however</U>, that if the Series 2022-4 Cash Collateral
Account has been established and funded, the Trustee shall withdraw from the Series 2022-4 Cash Collateral Account and deposit in the
Series 2022-4 Distribution Account an amount equal to the lesser of (x) the Series 2022-4 Cash Collateral Percentage on such Business
Day of the aggregate amount that the Demand Note Issuers so failed to pay under the Series 2022-4 Demand Notes (or, the amount that the
Trustee failed to demand for payment thereunder) and (y) the Series 2022-4 Available Cash Collateral Account Amount on such Business Day
and draw an amount equal to the remainder of the aggregate amount that the Demand Note Issuers failed to pay under the Series 2022-4 Demand
Notes (or, the amount that the Trustee failed to demand for payment thereunder) on the Multi-Series Letters of Credit. The Trustee shall
deposit into, or cause the deposit of, the portion of the proceeds of any draw on the Multi-Series Letters of Credit related to the Series
2022-4 Notes and the proceeds of any withdrawal from the Series 2022-4 Cash Collateral Account to be deposited in the Series 2022-4 Distribution
Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reserve Account Withdrawal</U>. If the Series 2022-4 Allocated Multi-Series Letter of Credit Amount will be less than the Principal
Deficit Amount on any Distribution Date, then, prior to 12:00 noon (New York City time) on the second Business Day prior to such Distribution
Date, the Administrator shall instruct the Trustee in writing to withdraw from the Series 2022-4 Reserve Account, an amount equal to the
lesser of (x) the Series 2022-4 Available Reserve Account Amount and (y) the amount by which the Principal Deficit Amount exceeds the
amounts to be deposited in the Series 2022-4 Distribution Account in accordance with clauses (i) and (ii) of this Section 2.5(d) and deposit
it in the Series 2022-4 Distribution Account on such Distribution Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Distributions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class A Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-4 Collection
Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2022-4 Distribution Account pursuant to Section 2.5(b), (c)
or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to each Class A Noteholder from
the Series 2022-4 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c) or (d), to the extent necessary
to pay the Class A Controlled Distribution Amount during the Series 2022-4 Controlled Amortization Period or to the extent necessary to
pay the Class A Invested Amount during the Series 2022-4 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class B Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-4 Collection
Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2022-4 Distribution Account pursuant to Section 2.5(b), (c)
or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to each Class B Noteholder from
the Series 2022-4</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">Distribution Account the amount deposited
therein pursuant to Section 2.5(a), (b), (c) or (d) less the aggregate amount applied to make the payments required pursuant to Section
2.5(e)(i), to the extent necessary to pay the Class B Controlled Distribution Amount during the Series 2022-4 Controlled Amortization
Period or to the extent necessary to pay the Class B Invested Amount during the Series 2022-4 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class C Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-4 Collection
Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2022-4 Distribution Account pursuant to Section 2.5(b), (c)
or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to each Class C Noteholder from
the Series 2022-4 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c) or (d) less the aggregate amount
applied to make the payments required pursuant to Section 2.5(e)(i) and Section 2.5(e)(ii), to the extent necessary to pay the Class C
Controlled Distribution Amount during the Series 2022-4 Controlled Amortization Period or to the extent necessary to pay the Class C Invested
Amount during the Series 2022-4 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class D Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-4 Collection
Account pursuant to Section 2.5(a) or amounts are deposited in the Series 2022-4 Distribution Account pursuant to Section 2.5(b), (c)
or (d) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to each Class D Noteholder from
the Series 2022-4 Distribution Account the amount deposited therein pursuant to Section 2.5(a), (b), (c) or (d) less the aggregate amount
applied to make the payments required pursuant to Section 2.5(e)(i), Section 2.5(e)(ii) and Section 2.5(e)(iii), to the extent necessary
to pay the Class D Controlled Distribution Amount during the Series 2022-4 Controlled Amortization Period or to the extent necessary to
pay the Class D Invested Amount during the Series 2022-4 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Class R Notes</U>. On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2022-4 Collection
Account pursuant to Section 2.5(a) the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay <U>pro rata</U> to
each Class R Noteholder from the Series 2022-4 Distribution Account the amount deposited therein pursuant to Section 2.5(a) less the aggregate
amount applied to make the payments required pursuant to Section 2.5(e)(i), Section 2.5(e)(ii), Section 2.5(e)(iii) and Section 2.5(e)(iv),
to the extent necessary to pay the Class R Controlled Amortization Amount during the Series 2022-4 Controlled Amortization Period or to
the extent necessary to pay the Class R Invested Amount during the Series 2022-4 Rapid Amortization Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administrator&#8217;s Failure to Instruct the Trustee to Make a Deposit, Draw or Payment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If the Administrator fails to give notice or instructions to make (i) any payment from or deposit into the Collection Account,
(ii) any draw on the Series 2022-4 Demand Notes or the Multi-Series Letters of Credit or (iii) any withdrawals from any Account, in each</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">case required to be given by the Administrator,
at the time specified in the Administration Agreement or any other Related Document (including applicable grace periods), the Trustee
shall make such payment or deposit into or from the Collection Account, such draw on the Series 2022-4 Demand Notes or the Multi-Series
Letters of Credit, or such withdrawal from such Account, in each case without such notice or instruction from the Administrator; provided,
however, that the Administrator, upon request of the Trustee, promptly provides the Trustee with all information necessary to allow the
Trustee to make such a payment, deposit, draw or withdrawal. When any payment, deposit, draw or withdrawal hereunder or under any other
Related Document is required to be made by the Trustee or the Paying Agent at or prior to a specified time, the Administrator shall deliver
any applicable written instructions with respect thereto reasonably in advance of such specified time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Reserve Account</U>.</P>

<P STYLE="text-align: justify; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Establishment of Series 2022-4 Reserve Account</U>. ABRCF
shall establish and maintain in the name of the Series 2022-4 Agent for the benefit of the Class A Noteholders, the Class B Noteholders,
the Class C Noteholders and the Class D Noteholders, or cause to be established and maintained, an account (the &#8220;<U>Series 2022-4
Reserve Account</U>&#8221;), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the
Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders. The Series 2022-4 Reserve Account
shall be maintained (i) with a Qualified Institution, or (ii) as a segregated trust account with the corporate trust department of a
depository institution or trust company having corporate trust powers and acting as trustee for funds deposited in the Series 2022-4
Reserve Account; <U>provided</U>, <U>however</U>, that, if at any time such Qualified Institution is no longer a Qualified Institution
or the credit rating of any securities issued by such depositary institution or trust company shall be reduced to below &#8220;Baa3&#8221;
by Moody&#8217;s or &#8220;BBB-&#8221; by Fitch, then ABRCF shall, within thirty (30) days of such reduction, establish a new Series
2022-4 Reserve Account with a new Qualified Institution. If the Series 2022-4 Reserve Account is not maintained in accordance with the
previous sentence, ABRCF shall establish a new Series 2022-4 Reserve Account, within ten (10) Business Days after obtaining knowledge
of such fact, which complies with such sentence, and shall instruct the Series 2022-4 Agent in writing to transfer all cash and investments
from the non&#45;qualifying Series 2022-4 Reserve Account into the new Series 2022-4 Reserve Account. Initially, the Series 2022-4 Reserve
Account will be established with The Bank of New York Mellon Trust Company, N.A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administration of the Series 2022-4 Reserve Account</U>. The Administrator may instruct the institution maintaining the Series
2022-4 Reserve Account to invest funds on deposit in the Series 2022-4 Reserve Account from time to time in Permitted Investments; <U>provided</U>,
<U>however</U>, that any such investment shall mature not later than the Business Day prior to the Distribution Date following the date
on which such funds were received, unless any Permitted Investment held in the Series 2022-4 Reserve Account is held with the Paying Agent,
then such investment may mature on such Distribution Date and such funds shall be available for withdrawal on or prior to such Distribution
Date; <U>provided further</U>, that in the case of Permitted Investments held in the Series 2022-4 Reserve Account and so long as any
Series 2022-4 Note is rated by Fitch (x) any Permitted Investment set forth in clauses (ii), (iii), (vi) and (vii) of the definition thereof
will have a rating of &#8220;AA-&#8221; or &#8220;F1+&#8221; by Fitch and (y) any Permitted Investment set forth in clause (v) of the
definition thereof will either have a rating of &#8220;AAAmmf&#8221;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">by Fitch or, if such fund is not rated by Fitch,
the then highest rating from two nationally recognized investment rating agencies (other than Fitch). All such Permitted Investments will
be credited to the Series 2022-4 Reserve Account and any such Permitted Investments that constitute (i)&nbsp;physical property (and that
is not either a United States security entitlement or a security entitlement) shall be physically delivered to the Trustee; (ii)&nbsp;United
States security entitlements or security entitlements shall be controlled (as defined in Section 8&#45;106 of the New&nbsp;York UCC) by
the Trustee pending maturity or disposition, and (iii)&nbsp;uncertificated securities (and not United States security entitlements) shall
be delivered to the Trustee by causing the Trustee to become the registered holder of such securities. The Trustee shall, at the expense
of ABRCF, take such action as is required to maintain the Trustee&#8217;s security interest in the Permitted Investments credited to the
Series 2022-4 Reserve Account. ABRCF shall not direct the Trustee to dispose of (or permit the disposal of) any Permitted Investment prior
to the maturity thereof to the extent such disposal would result in a loss of the purchase price of such Permitted Investment. In the
absence of written investment instructions hereunder, funds on deposit in the Series 2022-4 Reserve Account shall remain uninvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Earnings from Series 2022-4 Reserve Account</U>. All interest and earnings (net of losses and investment expenses) paid on funds
on deposit in the Series 2022-4 Reserve Account shall be deemed to be on deposit therein and available for distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Reserve Account Constitutes Additional Collateral for Series 2022-4 Senior Notes</U>. In order to secure and provide
for the repayment and payment of the ABRCF Obligations with respect to the Series 2022-4 Senior Notes, ABRCF hereby grants a security
interest in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the Class A Noteholders, the Class
B Noteholders, the Class C Noteholders and the Class D Noteholders, all of ABRCF&#8217;s right, title and interest in and to the following
(whether now or hereafter existing or acquired): (i) the Series 2022-4 Reserve Account, including any security entitlement thereto; (ii)
all funds on deposit therein from time to time; (iii) all certificates and instruments, if any, representing or evidencing any or all
of the Series 2022-4 Reserve Account or the funds on deposit therein from time to time; (iv)&nbsp;all investments made at any time and
from time to time with monies in the Series 2022-4 Reserve Account, whether constituting securities, instruments, general intangibles,
investment property, financial assets or other property; (v) all interest, dividends, cash, instruments and other property from time to
time received, receivable or otherwise distributed in respect of or in exchange for the Series 2022-4 Reserve Account, the funds on deposit
therein from time to time or the investments made with such funds; and (vi) all proceeds of any and all of the foregoing, including, without
limitation, cash (the items in the foregoing clauses (i)&nbsp;through (vi) are referred to, collectively, as the &#8220;<U>Series 2022-4
Reserve Account Collateral</U>&#8221;). The Trustee shall possess all right, title and interest in and to all funds on deposit from time
to time in the Series 2022-4 Reserve Account and in all proceeds thereof, and shall be the only person authorized to originate entitlement
orders in respect of the Series 2022-4 Reserve Account. The Series 2022-4 Reserve Account Collateral shall be under the sole dominion
and control of the Trustee for the benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class
D Noteholders. The Series 2022-4 Agent hereby agrees (i) to act as the securities intermediary (as defined in Section 8&#45;102(a)(14)
of the New&nbsp;York UCC) with respect to the Series 2022-4 Reserve Account; (ii) that its jurisdiction as securities intermediary is
New&nbsp;York; (iii) that each item of property (whether investment property, financial asset, security, instrument or cash) credited
to the Series</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">2022-4 Reserve Account shall be treated as
a financial asset (as defined in Section 8&#45;102(a)(9) of the New&nbsp;York UCC) and (iv) to comply with any entitlement order (as defined
in Section 8&#45;102(a)(8) of the New&nbsp;York UCC) issued by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Reserve Account Surplus</U>. In the event that the Series 2022-4 Reserve Account Surplus on any Distribution Date,
after giving effect to all withdrawals from the Series 2022-4 Reserve Account, is greater than zero, if no Series 2022-4 Enhancement Deficiency
or AESOP I Operating Lease Vehicle Deficiency would result therefrom or exist thereafter, the Trustee, acting in accordance with the written
instructions of the Administrator pursuant to the Administration Agreement, shall withdraw from the Series 2022-4 Reserve Account an amount
equal to the Series 2022-4 Reserve Account Surplus and shall pay such amount to ABRCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Series 2022-4 Reserve Account</U>. Upon the termination of the Indenture pursuant to Section 11.1 of the Base
Indenture, the Trustee, acting in accordance with the written instructions of the Administrator, after the prior payment of all amounts
owing to the Series 2022-4 Noteholders and payable from the Series 2022-4 Reserve Account as provided herein, shall withdraw from the
Series 2022-4 Reserve Account all amounts on deposit therein for payment to ABRCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Multi-Series Letters of Credit and Series 2022-4 Cash Collateral Account</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Multi-Series Letters
of Credit and Series 2022-4 Cash Collateral Account Constitute Additional Collateral for Series 2022-4 Senior Notes</U>. In order to
secure and provide for the repayment and payment of the ABRCF Obligations with respect to the Series 2022-4 Senior Notes, ABRCF hereby
grants a security interest in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the holders of
the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders, all of ABRCF&#8217;s right, title
and interest in and to the following (whether now or hereafter existing or acquired): (i)&nbsp;each applicable Multi-Series Letter of
Credit (except for any right, title and interest in such Multi-Series Letter of Credit related to supporting another Series of Notes);
(ii)&nbsp;the Series 2022-4 Cash Collateral Account, including any security entitlement thereto; (iii)&nbsp;all funds on deposit in the
Series 2022-4 Cash Collateral Account from time to time; (iv)&nbsp;all certificates and instruments, if any, representing or evidencing
any or all of the Series 2022-4 Cash Collateral Account or the funds on deposit therein from time to time; (v)&nbsp;all investments made
at any time and from time to time with monies in the Series 2022-4 Cash Collateral Account, whether constituting securities, instruments,
general intangibles, investment property, financial assets or other property; (vi)&nbsp;all interest, dividends, cash, instruments and
other property from time to time received, receivable or otherwise distributed in respect of or in exchange for the Series 2022-4 Cash
Collateral Account, the funds on deposit therein from time to time or the investments made with such funds; and (vii)&nbsp;all proceeds
of any and all of the foregoing, including, without limitation, cash (the items in the foregoing clauses (ii) through (vii)&nbsp;are
referred to, collectively, as the &#8220;<U>Series 2022-4 Cash Collateral Account Collateral</U>&#8221;). The Trustee shall, for the
benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders, possess all right,
title and interest in all funds on deposit from time to time in the Series 2022-4 Cash Collateral Account and in all proceeds thereof,
and shall be the only person authorized to</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">originate entitlement orders in respect of
the Series 2022-4 Cash Collateral Account. The Series 2022-4 Cash Collateral Account shall be under the sole dominion and control of the
Trustee for the benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders. The
Series 2022-4 Agent hereby agrees (i) to act as the securities intermediary (as defined in Section 8&#45;102(a)(14) of the New&nbsp;York
UCC) with respect to the Series 2022-4 Cash Collateral Account; (ii) that its jurisdiction as a securities intermediary is New York, (iii)
that each item of property (whether investment property, financial asset, security, instrument or cash) credited to the Series 2022-4
Cash Collateral Account shall be treated as a financial asset (as defined in Section 8&#45;102(a)(9) of the New&nbsp;York UCC) and (iv)
to comply with any entitlement order (as defined in Section 8&#45;102(a)(8) of the New&nbsp;York UCC) issued by the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Multi-Series Letter of Credit Expiration Date</U>. If prior to the date which is ten (10) days prior to the then&#45;scheduled
Multi-Series Letter of Credit Expiration Date with respect to any Multi-Series Letter of Credit, excluding the amount allocated to the
Series 2022-4 Notes and available to be drawn under such Multi-Series Letter of Credit but taking into account the amount allocated to
the Series 2022-4 Notes under each substitute Multi-Series Letter of Credit which has been obtained from a Series 2022-4 Eligible Letter
of Credit Provider and is in full force and effect on such date, the Series 2022-4 Enhancement Amount would be equal to or more than the
Series 2022-4 Required Enhancement Amount and the Series 2022-4 Liquidity Amount would be equal to or greater than the Series 2022-4 Required
Liquidity Amount, then the Administrator shall notify the Trustee in writing no later than two (2) Business Days prior to such Multi-Series
Letter of Credit Expiration Date of such determination. If prior to the date which is ten (10) days prior to the then&#45;scheduled Multi-Series
Letter of Credit Expiration Date with respect to any Multi-Series Letter of Credit, excluding the amount allocated to the Series 2022-4
Notes and available to be drawn under such Multi-Series Letter of Credit but taking into account the amount allocated to the Series 2022-4
Notes under each substitute Multi-Series Letter of Credit which has been obtained from a Series 2022-4 Eligible Letter of Credit Provider
and is in full force and effect on such date, the Series 2022-4 Enhancement Amount would be less than the Series 2022-4 Required Enhancement
Amount or the Series 2022-4 Liquidity Amount would be less than the Series 2022-4 Required Liquidity Amount, then the Administrator shall
notify the Trustee in writing no later than two (2) Business Days prior to such Multi-Series Letter of Credit Expiration Date of (x) the
greater of (A) the excess, if any, of the Series 2022-4 Required Enhancement Amount over the Series 2022-4 Enhancement Amount, excluding
the amount allocated to the Series 2022-4 Notes and available amount under such expiring Multi-Series Letter of Credit but taking into
account the amount allocated to the Series 2022-4 Notes under any substitute Multi-Series Letter of Credit which has been obtained from
a Series 2022-4 Eligible Letter of Credit Provider and is in full force and effect, on such date, and (B) the excess, if any, of the Series
2022-4 Required Liquidity Amount over the Series 2022-4 Liquidity Amount, excluding the amount allocated to the Series 2022-4 Notes and
available amount under such expiring Multi-Series Letter of Credit but taking into account the amount allocated to the Series 2022-4 Notes
under any substitute Multi-Series Letter of Credit which has been obtained from a Series 2022-4 Eligible Letter of Credit Provider and
is in full force and effect, on such date, and (y) the amount allocated to the Series 2022-4 Notes and available to be drawn on such expiring
Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time)
on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">given to the Trustee after 10:00 a.m. (New
York City time), by 12:00 noon (New York City time) on the next following Business Day), draw the lesser of the amounts set forth in clauses
(x) and (y) above on such expiring Multi-Series Letter of Credit by presenting a draft accompanied by a Certificate of Termination Demand
and shall cause the Termination Disbursement to be deposited in the Series 2022-4 Cash Collateral Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">If the Trustee does not receive
the notice from the Administrator described in the first paragraph of this Section 2.8(b) on or prior to the date that is two (2) Business
Days prior to each Multi-Series Letter of Credit Expiration Date, the Trustee shall, by 12:00 noon (New York City time) on such Business
Day draw the full amount allocated to the Series 2022-4 Notes under such Multi-Series Letter of Credit by presenting a draft accompanied
by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2022-4 Cash Collateral
Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Multi-Series Letter of Credit Providers</U>. The Administrator shall notify the Trustee in writing within one (1) Business Day
of becoming aware that (i) the long&#45;term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen
below &#8220;A1&#8221; as determined by Moody&#8217;s or &#8220;A+&#8221; as determined by Fitch or (ii) the short&#45;term senior unsecured
debt credit rating of any Multi-Series Letter of Credit Provider has fallen below &#8220;P-1&#8221; as determined by Moody&#8217;s or
&#8220;F1&#8221; as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i)&nbsp;the greater of (A) the
excess, if any, of the Series 2022-4 Required Enhancement Amount over the Series 2022-4 Enhancement Amount, excluding the amount allocated
to the Series 2022-4 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider,
on such date, and (B) the excess, if any, of the Series 2022-4 Required Liquidity Amount over the Series 2022-4 Liquidity Amount, excluding
the amount allocated to the Series 2022-4 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii)&nbsp;the
amount allocated to the Series 2022-4 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt
of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New
York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00
noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser
of the amounts in clause (i)&nbsp;and clause (ii)&nbsp;of the immediately preceding sentence on such Business Day by presenting a draft
accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2022-4 Cash
Collateral Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination Date Demands on the Multi-Series Letters of Credit</U>. Prior to 10:00 a.m. (New York City time) on the Business
Day immediately succeeding the Multi-Series Letter of Credit Termination Date, the Administrator shall determine the Series 2022-4 Demand
Note Payment Amount, if any, as of the Multi-Series Letter of Credit Termination Date and, if the Series 2022-4 Demand Note Payment Amount
is greater than zero, instruct the Trustee in writing to draw on the Multi-Series Letters of Credit. Upon receipt of any such notice by
the Trustee on or prior to 11:00 a.m. (New York City time) on a Business Day, the Trustee shall, by 12:00 noon (New York City time) on
such Business Day draw an amount equal to the lesser of (i)&nbsp;the Series 2022-4 Demand Note Payment Amount and (ii)&nbsp;the Series
2022-4 Allocated Multi-Series Letter of Credit Liquidity Amount on the Multi-Series Letters of Credit by presenting to</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">each Multi-Series Letter of Credit Provider
a draft accompanied by a Certificate of Termination Date Demand and shall cause the Termination Date Disbursement to be deposited in the
Series 2022-4 Cash Collateral Account; <U>provided</U>, <U>however</U>, that if the Series 2022-4 Cash Collateral Account has been established
and funded, the Trustee shall draw an amount equal to the product of (a)&nbsp;100% <U>minus</U> the Series 2022-4 Cash Collateral Percentage
and (b) the lesser of the amounts referred to in clause (i) and (ii) on such Business Day on the Multi-Series Letters of Credit as calculated
by the Administrator and provided in writing to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Draws on the Multi-Series Letters of Credit</U>. If there is more than one Multi-Series Letter of Credit on the date of any
draw on the Multi-Series Letters of Credit pursuant to the terms of this Supplement, the Administrator shall instruct the Trustee, in
writing, to draw on each Multi-Series Letter of Credit in an amount equal to the Pro Rata Share of the Multi-Series Letter of Credit Provider
issuing such Multi-Series Letter of Credit of the amount of such draw on the Multi-Series Letters of Credit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Establishment of Series 2022-4 Cash Collateral Account</U>. On or prior to the date of any drawing under a Multi-Series Letter
of Credit pursuant to Section&nbsp;2.8(b), (c) or (d) above, ABRCF shall establish and maintain in the name of the Trustee for the benefit
of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders, or cause to be established and
maintained, an account (the &#8220;<U>Series 2022-4 Cash Collateral Account</U>&#8221;), bearing a designation clearly indicating that
the funds deposited therein are held for the benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and
the Class D Noteholders. The Series 2022-4 Cash Collateral Account shall be maintained (i)&nbsp;with a Qualified Institution, or (ii)&nbsp;as
a segregated trust account with the corporate trust department of a depository institution or trust company having corporate trust powers
and acting as trustee for funds deposited in the Series 2022-4 Cash Collateral Account; <U>provided</U>, <U>however</U>, that if at any
time such Qualified Institution is no longer a Qualified Institution or the credit rating of any securities issued by such depository
institution or trust company shall be reduced to below &#8220;Baa3&#8221; by Moody&#8217;s or &#8220;BBB-&#8221; by Fitch, then ABRCF
shall, within thirty (30) days of such reduction, establish a new Series 2022-4 Cash Collateral Account with a new Qualified Institution
or a new segregated trust account with the corporate trust department of a depository institution or trust company having corporate trust
powers and acting as trustee for funds deposited in the Series 2022-4 Cash Collateral Account. If a new Series 2022-4 Cash Collateral
Account is established, ABRCF shall instruct the Trustee in writing to transfer all cash and investments from the non&#45;qualifying Series
2022-4 Cash Collateral Account into the new Series 2022-4 Cash Collateral Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administration of the Series 2022-4 Cash Collateral Account</U>. ABRCF may instruct (by standing instructions or otherwise)
the institution maintaining the Series 2022-4 Cash Collateral Account to invest funds on deposit in the Series 2022-4 Cash Collateral
Account from time to time in Permitted Investments; <U>provided</U>, <U>however</U>, that any such investment shall mature not later than
the Business Day prior to the Distribution Date following the date on which such funds were received, unless any Permitted Investment
held in the Series 2022-4 Cash Collateral Account is held with the Paying Agent, in which case such investment may mature on such Distribution
Date so long as such funds shall be available for withdrawal on or prior to such Distribution Date; <U>provided further</U>, that in the
case of Permitted Investments held in the Series 2022-4 Cash Collateral Account and so long as any Series 2022-4 Note is rated by Fitch
(x) any</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Permitted Investment set forth in clauses (ii),
(iii), (vi) and (vii) of the definition thereof will have a rating of &#8220;AA-&#8221; or &#8220;F1+&#8221; by Fitch and (y) any Permitted
Investment set forth in clause (v) of the definition thereof will either have a rating of &#8220;AAAmmf&#8221; by Fitch or, if such fund
is not rated by Fitch, the then highest rating from two nationally recognized investment rating agencies (other than Fitch). All such
Permitted Investments will be credited to the Series 2022-4 Cash Collateral Account and any such Permitted Investments that constitute
(i)&nbsp;physical property (and that is not either a United States security entitlement or a security entitlement) shall be physically
delivered to the Trustee; (ii)&nbsp;United States security entitlements or security entitlements shall be controlled (as defined in Section
8&#45;106 of the New York UCC) by the Trustee pending maturity or disposition, and (iii)&nbsp;uncertificated securities (and not United
States security entitlements) shall be delivered to the Trustee by causing the Trustee to become the registered holder of such securities.
The Trustee shall, at the expense of ABRCF, take such action as is required to maintain the Trustee&#8217;s security interest in the Permitted
Investments credited to the Series 2022-4 Cash Collateral Account. ABRCF shall not direct the Trustee to dispose of (or permit the disposal
of) any Permitted Investment prior to the maturity thereof to the extent such disposal would result in a loss of the purchase price of
such Permitted Investment. In the absence of written investment instructions hereunder, funds on deposit in the Series 2022-4 Cash Collateral
Account shall remain uninvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Earnings from Series 2022-4 Cash Collateral Account</U>. All interest and earnings (net of losses and investment expenses) paid
on funds on deposit in the Series 2022-4 Cash Collateral Account shall be deemed to be on deposit therein and available for distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Cash Collateral Account Surplus</U>. In the event that the Series 2022-4 Cash Collateral Account Surplus on any
Distribution Date (or, after the Multi-Series Letter of Credit Termination Date, on any date) is greater than zero, the Trustee, acting
in accordance with the written instructions of the Administrator, shall withdraw from the Series 2022-4 Cash Collateral Account an amount
equal to the Series 2022-4 Cash Collateral Account Surplus and shall pay such amount: <U>first</U>, to the Multi-Series Letter of Credit
Providers to the extent of any unreimbursed drawings under the related Series 2022-4 Reimbursement Agreement, for application in accordance
with the provisions of the related Series 2022-4 Reimbursement Agreement, and, <U>second</U>, to ABRCF any remaining amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Series 2022-4 Cash Collateral Account</U>. Upon the termination of this Supplement in accordance with its terms,
the Trustee, acting in accordance with the written instructions of the Administrator, after the prior payment of all amounts owing to
the Series 2022-4 Noteholders and payable from the Series 2022-4 Cash Collateral Account as provided herein, shall withdraw from the Series
2022-4 Cash Collateral Account all amounts on deposit therein (to the extent not withdrawn pursuant to Section&nbsp;2.8(i) above) and
shall pay such amounts: <U>first</U>, to the Multi-Series Letter of Credit Providers to the extent of any unreimbursed drawings under
the related Series 2022-4 Reimbursement Agreement, for application in accordance with the provisions of the related Series 2022-4 Reimbursement
Agreement, and, <U>second</U>, to ABRCF any remaining amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Distribution Account</U>.</P>


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<P STYLE="text-align: justify; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Establishment of Series 2022-4 Distribution Account</U>. ABRCF
shall establish and maintain in the name of the Trustee for the benefit of the Series 2022-4 Noteholders, or cause to be established
and maintained, an account (the &#8220;<U>Series 2022-4 Distribution Account</U>&#8221;), bearing a designation clearly indicating that
the funds deposited therein are held for the benefit of the Series 2022-4 Noteholders. The Series 2022-4 Distribution Account shall be
maintained (i) with a Qualified Institution, or (ii) as a segregated trust account with the corporate trust department of a depository
institution or trust company having corporate trust powers and acting as trustee for funds deposited in the Series 2022-4 Distribution
Account; provided, however, that if at any time such Qualified Institution is no longer a Qualified Institution or the credit rating
of any securities issued by such depositary institution or trust company shall be reduced to below &#8220;Baa3&#8221; by Moody&#8217;s
or &#8220;BBB-&#8221; by Fitch, then ABRCF shall, within thirty (30) days of such reduction, establish a new Series 2022-4 Distribution
Account with a new Qualified Institution. If the Series 2022-4 Distribution Account is not maintained in accordance with the previous
sentence, ABRCF shall establish a new Series 2022-4 Distribution Account, within ten (10) Business Days after obtaining knowledge of
such fact, which complies with such sentence, and shall instruct the Series 2022-4 Agent in writing to transfer all cash and investments
from the non&#45;qualifying Series 2022-4 Distribution Account into the new Series 2022-4 Distribution Account. Initially, the Series
2022-4 Distribution Account will be established with The Bank of New York Mellon Trust Company, N.A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Administration of the Series 2022-4 Distribution Account</U>. The Administrator may instruct the institution maintaining the
Series 2022-4 Distribution Account to invest funds on deposit in the Series 2022-4 Distribution Account from time to time in Permitted
Investments; <U>provided</U>, <U>however</U>, that any such investment shall mature not later than the Business Day prior to the Distribution
Date following the date on which such funds were received, unless any Permitted Investment held in the Series 2022-4 Distribution Account
is held with the Paying Agent, then such investment may mature on such Distribution Date and such funds shall be available for withdrawal
on or prior to such Distribution Date. All such Permitted Investments will be credited to the Series 2022-4 Distribution Account and any
such Permitted Investments that constitute (i)&nbsp;physical property (and that is not either a United States security entitlement or
a security entitlement) shall be physically delivered to the Trustee; (ii)&nbsp;United States security entitlements or security entitlements
shall be controlled (as defined in Section&nbsp;8&#45;106 of the New&nbsp;York UCC) by the Trustee pending maturity or disposition, and
(iii)&nbsp;uncertificated securities (and not United States security entitlements) shall be delivered to the Trustee by causing the Trustee
to become the registered holder of such securities. The Trustee shall, at the expense of ABRCF, take such action as is required to maintain
the Trustee&#8217;s security interest in the Permitted Investments credited to the Series 2022-4 Distribution Account. ABRCF shall not
direct the Trustee to dispose of (or permit the disposal of) any Permitted Investment prior to the maturity thereof to the extent such
disposal would result in a loss of the purchase price of such Permitted Investment. In the absence of written investment instructions
hereunder, funds on deposit in the Series 2022-4 Distribution Account shall remain uninvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Earnings from Series 2022-4 Distribution Account</U>. All interest and earnings (net of losses and investment expenses) paid
on funds on deposit in the Series 2022-4 Distribution Account shall be deemed to be on deposit and available for distribution.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <U>Series 2022-4 Distribution Account Constitutes Additional Collateral for Series 2022-4 Notes</U>. In order to secure and provide
for the repayment and payment of the ABRCF Obligations with respect to the Series 2022-4 Notes, ABRCF hereby grants a security interest
in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the Series 2022-4 Noteholders, all of ABRCF&#8217;s
right, title and interest in and to the following (whether now or hereafter existing or acquired): (i) the Series 2022-4 Distribution
Account, including any security entitlement thereto; (ii) all funds on deposit therein from time to time; (iii) all certificates and instruments,
if any, representing or evidencing any or all of the Series 2022-4 Distribution Account or the funds on deposit therein from time to time;
(iv) all investments made at any time and from time to time with monies in the Series 2022-4 Distribution Account, whether constituting
securities, instruments, general intangibles, investment property, financial assets or other property; (v) all interest, dividends, cash,
instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for the Series
2022-4 Distribution Account, the funds on deposit therein from time to time or the investments made with such funds; and (vi)&nbsp;all
proceeds of any and all of the foregoing, including, without limitation, cash (the items in the foregoing clauses (i) through (vi) are
referred to, collectively, as the &#8220;<U>Series 2022-4 Distribution Account Collateral</U>&#8221;). The Trustee shall possess all right,
title and interest in all funds on deposit from time to time in the Series 2022-4 Distribution Account and in and to all proceeds thereof,
and shall be the only person authorized to originate entitlement orders in respect of the Series 2022-4 Distribution Account. The Series
2022-4 Distribution Account Collateral shall be under the sole dominion and control of the Trustee for the benefit of the Series 2022-4
Noteholders. The Series 2022-4 Agent hereby agrees (i) to act as the securities intermediary (as defined in Section 8&#45;102(a)(14) of
the New&nbsp;York UCC) with respect to the Series 2022-4 Distribution Account; (ii)&nbsp;that its jurisdiction as securities intermediary
is New York, (iii) that each item of property (whether investment property, financial asset, security, instrument or cash) credited to
the Series 2022-4 Distribution Account shall be treated as a financial asset (as defined in Section 8&#45;102(a)(9) of the New&nbsp;York
UCC) and (iv) to comply with any entitlement order (as defined in Section&nbsp;8&#45;102(a)(8) of the New&nbsp;York UCC) issued by the
Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Accounts Permitted Investments</U>. ABRCF shall not, and shall not permit, funds on deposit in the Series 2022-4
Accounts to be invested in:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Permitted
Investments that do not mature at least one (1) Business Day before the next Distribution Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>demand
deposits, time deposits or certificates of deposit with a maturity in excess of 360 days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>commercial
paper which is not rated &#8220;P&#45;1&#8221; by Moody&#8217;s;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>money
market funds or eurodollar time deposits which are not rated at least &#8220;P-1&#8221; by Moody&#8217;s;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>eurodollar
deposits that are not rated &#8220;P&#45;1&#8221; by Moody&#8217;s or that are with financial institutions not organized under the laws
of a G&#45;7 nation; or</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> any investment, instrument or security not otherwise listed in clause (i)&nbsp;through (vi) of the definition of &#8220;Permitted
Investments&#8221; in the Base Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Demand Notes Constitute Additional Collateral for Series 2022-4 Senior Notes</U>. In order to secure and provide
for the repayment and payment of the ABRCF Obligations with respect to the Series 2022-4 Senior Notes, ABRCF hereby grants a security
interest in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the Class A Noteholders, the Class
B Noteholders, the Class C Noteholders and the Class D Noteholders, all of ABRCF&#8217;s right, title and interest in and to the following
(whether now or hereafter existing or acquired): (i)&nbsp;the Series 2022-4 Demand Notes; (ii)&nbsp;all certificates and instruments,
if any, representing or evidencing the Series 2022-4 Demand Notes; and (iii)&nbsp;all proceeds of any and all of the foregoing, including,
without limitation, cash. On the date hereof, ABRCF shall deliver to the Trustee, for the benefit of the Class A Noteholders, the Class
B Noteholders, the Class C Noteholders and the Class D Noteholders, each Series 2022-4 Demand Note, endorsed in blank. The Trustee, for
the benefit of the Class A Noteholders, the Class B Noteholders, the Class C Noteholders and the Class D Noteholders, shall be the only
Person authorized to make a demand for payments on the Series 2022-4 Demand Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 2.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Subordination of the Class B Notes, Class C Notes, Class D Notes, Class E Notes and the Class R Notes</U>.</P>

<P STYLE="text-align: justify; margin: 0 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything
to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class B Notes will be subordinate
in all respects to the Class A Notes as and to the extent set forth in this Section 2.12(a). No payments on account of principal shall
be made with respect to the Class B Notes on any Distribution Date during the Series 2022-4 Controlled Amortization Period unless an
amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A Noteholders and
no payments on account of principal shall be made with respect to the Class B Notes during the Series 2022-4 Rapid Amortization Period
or on the Series 2022-4 Final Distribution Date until the Class A Notes have been paid in full. No payments on account of interest shall
be made with respect to the Class B Notes on any Distribution Date until all payments of interest then due and payable with respect to
the Class A Notes (including, without limitation, all accrued interest, all Class A Shortfall and all interest accrued on such Class
A Shortfall) have been paid in full.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class C Notes will be
subordinate in all respects to the Class A Notes and the Class B Notes as and to the extent set forth in this Section 2.12(b). No payments
on account of principal shall be made with respect to the Class C Notes on any Distribution Date during the Series 2022-4 Controlled Amortization
Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall have been paid to the Class A
Noteholders and an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have been paid to the Class
B Noteholders. No payments on account of principal shall be made with respect to the Class C Notes during the Series 2022-4 Rapid Amortization
Period or on the Series 2022-4 Final Distribution Date until the Class A Notes and the Class B Notes have been paid in full. No payments
on account of interest shall be made with respect to the Class C Notes on any Distribution Date until all</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">payments of interest then due and payable with
respect to the Class A Notes and Class B Notes (including, without limitation, all accrued interest, all Class A Shortfall, all interest
accrued on such Class A Shortfall, all Class B Shortfall and all interest accrued on such Class B Shortfall) have been paid in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class D Notes will be
subordinate in all respects to the Class A Notes, the Class B Notes and the Class C Notes as and to the extent set forth in this Section
2.12(c). No payments on account of principal shall be made with respect to the Class D Notes on any Distribution Date during the Series
2022-4 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for the Related Month shall
have been paid to the Class A Noteholders, an amount equal to the Class B Controlled Distribution Amount for the Related Month shall have
been paid to the Class B Noteholders and an amount equal to the Class C Controlled Distribution Amount for the Related Month shall have
been paid to the Class C Noteholders. No payments on account of principal shall be made with respect to the Class D Notes during the Series
2022-4 Rapid Amortization Period or on the Series 2022-4 Final Distribution Date until the Class A Notes, the Class B Notes and the Class
C Notes have been paid in full. No payments on account of interest shall be made with respect to the Class D Notes on any Distribution
Date until all payments of interest then due and payable with respect to the Class A Notes, Class B Notes and Class C Notes (including,
without limitation, all accrued interest, all Class A Shortfall, all interest accrued on such Class A Shortfall, all Class B Shortfall,
all interest accrued on such Class B Shortfall, all Class C Shortfall and all interest accrued on such Class C Shortfall) have been paid
in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Supplement, the Base Indenture or in any other Related Document, the Class E Notes, if issued,
will be subordinate in all respects to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes as and to the extent
set forth in this Section 2.12(d). No payments on account of principal shall be made with respect to the Class E Notes on any Distribution
Date during the Series 2022-4 Controlled Amortization Period unless an amount equal to the Class A Controlled Distribution Amount for
the Related Month shall have been paid to the Class A Noteholders, an amount equal to the Class B Controlled Distribution Amount for the
Related Month shall have been paid to the Class B Noteholders, an amount equal to the Class C Controlled Distribution Amount for the Related
Month shall have been paid to the Class C Noteholders and an amount equal to the Class D Controlled Distribution Amount for the Related
Month shall have been paid to the Class D Noteholders. No payments on account of principal shall be made with respect to the Class E Notes
during the Series 2022-4 Rapid Amortization Period or on the Series 2022-4 Final Distribution Date until the Class A Notes, the Class
B Notes, the Class C Notes and the Class D Notes have been paid in full. No payments on account of interest shall be made with respect
to the Class E Notes on any Distribution Date until all payments of interest then due and payable with respect to the Class A Notes, Class
B Notes, Class C Notes and Class D Notes (including, without limitation, all accrued interest, all Class A Shortfall, all interest accrued
on such Class A Shortfall, all Class B Shortfall, all interest accrued on such Class B Shortfall, all Class C Shortfall, all interest
accrued on such Class C Shortfall, all Class D Shortfall and all interest accrued on such Class D Shortfall) have been paid in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary contained in this Supplement,</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify">the Base Indenture or in any other Related
Document, the Class R Notes will be subordinate in all respects to the Class A Notes, the Class B Notes, the Class C Notes, the Class
D Notes and the Class E Notes (if issued), as and to the extent set forth in this Section 2.12(e). No payments on account of principal
shall be made with respect to the Class R Notes during the Series 2022-4 Controlled Amortization Period or the Series 2022-4 Rapid Amortization
Period or on the Series 2022-4 Final Distribution Date until the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes
and, if issued, the Class E Notes have been paid in full. No payments on account of interest shall be made with respect to the Class R
Notes on any Distribution Date until all payments of interest and principal due and payable on such Distribution Date with respect to
the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and, if issued, Class E Notes (including, without limitation,
all accrued interest, all Class A Shortfall, all interest accrued on such Class A Shortfall, all Class B Shortfall, all interest accrued
on such Class B Shortfall, all Class C Shortfall, all interest accrued on such Class C Shortfall, all Class D Shortfall, all interest
accrued on such Class D Shortfall, all due and unpaid interest on the Class&nbsp;E Notes (if issued) and all interest accrued on such
unpaid amounts) have been paid in full.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE III<BR>
<BR>
AMORTIZATION EVENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">In addition to the Amortization
Events set forth in Section 9.1 of the Base Indenture, any of the following shall be an Amortization Event with respect to the Series
2022-4 Notes and collectively shall constitute the Amortization Events set forth in Section 9.1(n) of the Base Indenture with respect
to the Series 2022-4 Notes (without notice or other action on the part of the Trustee or any holders of the Series 2022-4 Notes):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a Series 2022-4 Enhancement Deficiency shall occur and continue for at least two (2) Business Days; <U>provided</U>, <U>however</U>,
that such event or condition shall not be an Amortization Event if during such two (2) Business Day period such Series 2022-4 Enhancement
Deficiency shall have been cured in accordance with the terms and conditions of the Indenture and the Related Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Series 2022-4 Liquidity Amount shall be less than the Series 2022-4 Required Liquidity Amount for at least two (2) Business
Days; <U>provided</U>, <U>however</U>, that such event or condition shall not be an Amortization Event if during such two (2)&nbsp;Business
Day period such insufficiency shall have been cured in accordance with the terms and conditions of the Indenture and the Related Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Collection Account, the Series 2022-4 Collection Account, the Series 2022-4 Excess Collection Account or the Series 2022-4
Reserve Account shall be subject to an injunction, estoppel or other stay or a Lien (other than Liens permitted under the Related Documents);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all principal of and interest on any Class of the Series 2022-4 Notes is not paid in full on or before the Series 2022-4 Expected
Final Distribution Date;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> any Multi-Series Letter of Credit shall not be in full force and effect for at least two (2) Business Days and (x) either a Series
2022-4 Enhancement Deficiency would result from excluding the Series 2022-4 Applicable Multi-Series L/C Amount attributable to such Multi-Series
Letter of Credit from the Series 2022-4 Enhancement Amount or (y) the Series 2022-4 Liquidity Amount, excluding therefrom the Series 2022-4
Applicable Multi-Series L/C Amount attributable to such Multi-Series Letter of Credit, would be less than the Series 2022-4 Required Liquidity
Amount;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>from and after the funding of the Series 2022-4 Cash Collateral Account, the Series 2022-4 Cash Collateral Account shall be subject
to an injunction, estoppel or other stay or a Lien (other than Liens permitted under the Related Documents) for at least two (2) Business
Days and either (x) a Series 2022-4 Enhancement Deficiency would result from excluding the Series 2022-4 Available Cash Collateral Account
Amount from the Series 2022-4 Enhancement Amount or (y) the Series 2022-4 Liquidity Amount, excluding therefrom the Series 2022-4 Available
Cash Collateral Account Amount, would be less than the Series 2022-4 Required Liquidity Amount; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an Event of Bankruptcy shall have occurred with respect to any Multi-Series Letter of Credit Provider or any Multi-Series Letter
of Credit Provider repudiates its Multi-Series Letter of Credit or refuses to honor a proper draw thereon and either (x) a Series 2022-4
Enhancement Deficiency would result from excluding the Series 2022-4 Applicable Multi-Series L/C Amount attributable to such Multi-Series
Letter of Credit from the Series 2022-4 Enhancement Amount or (y)&nbsp;the Series 2022-4 Liquidity Amount, excluding therefrom the Series
2022-4 Applicable Multi-Series L/C Amount attributable to such Multi-Series Letter of Credit, would be less than the Series 2022-4 Required
Liquidity Amount.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE IV<BR>
<BR>
FORM OF SERIES 2022-4 NOTES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">Section 4.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Restricted Global Series 2022-4 Notes</U>. Each Class of the Series 2022-4 Notes to be issued in the United States will be issued
in book&#45;entry form and represented by one or more permanent global Notes in fully registered form without interest coupons (each,
a &#8220;<U>Restricted Global Class A Note</U>&#8221;, a &#8220;<U>Restricted Global Class B Note</U>&#8221;, a &#8220;<U>Restricted Global
Class C Note</U>&#8221;, a &#8220;<U>Restricted Global Class D Note</U>&#8221; or a &#8220;<U>Restricted Global Class R Note</U>&#8221;,
as the case may be), substantially in the form set forth in <U>Exhibits A&#45;1</U>, <U>B-1</U>, <U>C&#45;1</U>, <U>D-1</U> and <U>E-1</U>,
with such legends as may be applicable thereto as set forth in the Base Indenture, and will be sold only in the United States (1) initially
to institutional accredited investors within the meaning of Regulation D under the Securities Act in reliance on an exemption from the
registration requirements of the Securities Act and (2)&nbsp;thereafter to qualified institutional buyers within the meaning of, and in
reliance on, Rule 144A under the Securities Act and shall be deposited on behalf of the purchasers of such Class of the Series 2022-4
Notes represented thereby, with the Trustee as custodian for DTC, and registered in the name of Cede as DTC&#8217;s nominee, duly executed
by ABRCF and authenticated by the Trustee in the manner set forth in Section 2.4 of the Base Indenture.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">Section 4.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Temporary Global Series 2022-4 Notes; Permanent Global Series 2022-4 Notes</U>. Each Class of the Series 2022-4 Notes to be
issued outside the United States will be issued and sold in transactions outside the United States in reliance on Regulation S under
the Securities Act, as provided in the applicable note purchase agreement, and shall initially be issued in the form of one or more temporary
notes in registered form without interest coupons (each, a &#8220;<U>Temporary Global Class A Note</U>&#8221;, a &#8220;<U>Temporary
Global Class B Note</U>&#8221;, a &#8220;<U>Temporary Global Class C Note</U>&#8221;, a &#8220;<U>Temporary Global Class D Note</U>&#8221;
or a &#8220;<U>Temporary Global Class R Note</U>&#8221;, as the case may be, and collectively the &#8220;<U>Temporary Global Series 2022-4
Notes</U>&#8221;), substantially in the form set forth in <U>Exhibits A&#45;2</U>, <U>B-2</U>, <U>C&#45;2</U>, <U>D-2</U> and E<U>-2
</U>which shall be deposited on behalf of the purchasers of such Class of the Series 2022-4 Notes represented thereby with a custodian
for, and registered in the name of a nominee of DTC, for the account of Euroclear Bank S.A./N.V., as operator of the Euroclear System,
or for Clearstream Banking, <I>soci&eacute;t&eacute; anonyme</I>, duly executed by ABRCF and authenticated by the Trustee in the manner
set forth in Section 2.4 of the Base Indenture. Interests in each Temporary Global Series 2022-4 Note will be exchangeable, in whole
or in part, for interests in one or more permanent global notes in registered form without interest coupons (each, a &#8220;<U>Permanent
Global Class A Note</U>&#8221;, a &#8220;<U>Permanent Global Class B Note</U>&#8221;, a &#8220;<U>Permanent Global Class C Note</U>&#8221;,
a &#8220;<U>Permanent Global Class D Note</U>&#8221; or a &#8220;<U>Permanent Global Class R Note</U>&#8221;, as the case may be, and
collectively the &#8220;<U>Permanent Global Series 2022-4 Notes</U>&#8221;), substantially in the form of <U>Exhibits A&#45;3</U>, <U>B-3</U>,
<U>C&#45;3</U>, <U>D-3</U> and <U>E-3</U> in accordance with the provisions of such Temporary Global Series 2022-4 Note and the Base
Indenture (as modified by this Supplement). Interests in a Permanent Global Series 2022-4 Note will be exchangeable for a definitive
Series 2022-4 Note in accordance with the provisions of such Permanent Global Series 2022-4 Note and the Base Indenture (as modified
by this Supplement). The Restricted Global Class A Notes, the Temporary Global Class A Notes and the Permanent Global Class A Notes are
collectively referred to as the &#8220;<U>Global Class A Notes</U>&#8221;, the Restricted Global Class B Notes, the Temporary Global
Class B Notes and the Permanent Global Class B Notes are collectively referred to as the &#8220;<U>Global Class B Notes</U>&#8221;, the
Restricted Global Class C Notes, the Temporary Global Class C Notes and the Permanent Global Class C Notes are collectively referred
to as the &#8220;<U>Global Class C Notes</U>&#8221;, the Restricted Global Class D Notes, the Temporary Global Class D Notes and the
Permanent Global Class D Notes are collectively referred to as the &#8220;<U>Global Class D Notes</U>&#8221; and the Restricted Global
Class R Notes, the Temporary Global Class R Notes and the Permanent Global Class R Notes are collectively referred to as the &#8220;<U>Global
Class R Notes</U>&#8221;.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; text-indent: 0in">ARTICLE V<BR>
<BR>
GENERAL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 1in">Section 5.1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Optional Repurchase</U>.</P>

<P STYLE="text-align: justify; margin: 0pt 0 12pt; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Series 2022-4 Notes shall be subject to
repurchase by ABRCF at its option in accordance with Section 6.3 of the Base Indenture on any Distribution Date (any such Distribution
Date, a &#8220;<U>Clean-up Repurchase Distribution Date</U>&#8221;) after the Series 2022-4 Invested Amount is reduced to an amount less
than or equal to 10% of the sum of the Class A Initial Invested Amount, the Class B Initial Invested Amount, the Class C Initial Invested
Amount, the Class D Initial Invested Amount, the initial invested amount of the Class E Notes (if issued), the</FONT></P>


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<P STYLE="margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-size: 10pt">Class R Initial Invested Amount and the aggregate principal amount
of any Additional Class R Notes (the &#8220;<U>Series 2022-4 Repurchase Amount</U>&#8221;). The repurchase price for any Series 2022-4
Note subject to a Clean-up Repurchase shall equal the aggregate outstanding principal balance of such Series 2022-4 Note (determined
after giving effect to any payments of principal and interest on such Distribution Date), <U>plus</U> accrued and unpaid interest on
such outstanding principal balance.</FONT></P>

<P STYLE="margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Series 2022-4 Notes shall also be subject to repurchase at the election of the ABRCF in accordance with Section 6.3 of the Base Indenture,
in whole but not in part, on any Distribution Date (any such Distribution Date, an &#8220;<U>Optional Repurchase Distribution Date</U>&#8221;)
that occurs prior to the earlier to occur of (x) the commencement of the Series 2022-4 Rapid Amortization Period and (y) the Clean-up
Repurchase Distribution Date (any such repurchase, an &#8220;<U>Optional Repurchase</U>&#8221;). The repurchase price for any Series
2022-4 Note subject to an Optional Repurchase shall equal (1) the aggregate outstanding principal balance of such Series 2022-4 Note
(determined after giving effect to any payments made pursuant to Section 2.5(a) on such Distribution Date), <U>plus</U> (2) accrued and
unpaid interest on such outstanding principal balance (determined after giving effect to any payments made pursuant to Section 2.4 on
such Distribution Date) <U>plus</U> (3) the Make Whole Payment with respect to such Series 2022-4 Note.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Information</U>. The Trustee shall provide to the Series 2022-4 Noteholders, or their designated agent, copies of all information
furnished to the Trustee or ABRCF pursuant to the Related Documents, as such information relates to the Series 2022-4 Notes or the Series
2022-4 Collateral.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exhibits</U>. The following exhibits attached hereto supplement the exhibits included in the Base Indenture.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD STYLE="width: 15%"><U>Exhibit A&#45;1</U>:</TD>
    <TD STYLE="width: 75%">Form of Restricted Global Class A Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit A&#45;2</U>:</TD>
    <TD>Form of Temporary Global Class A Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit A&#45;3</U>:</TD>
    <TD>Form of Permanent Global Class A Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit B&#45;1</U>:</TD>
    <TD>Form of Restricted Global Class B Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit B&#45;2</U>:</TD>
    <TD>Form of Temporary Global Class B Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit B&#45;3</U>:</TD>
    <TD>Form of Permanent Global Class B Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit C&#45;1</U>:</TD>
    <TD>Form of Restricted Global Class C Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit C&#45;2</U>:</TD>
    <TD>Form of Temporary Global Class C Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit C&#45;3</U>:</TD>
    <TD>Form of Permanent Global Class C Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit D&#45;1</U>:</TD>
    <TD>Form of Restricted Global Class D Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit D&#45;2</U>:</TD>
    <TD>Form of Temporary Global Class D Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit D&#45;3</U>:</TD>
    <TD>Form of Permanent Global Class D Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit E&#45;1</U>:</TD>
    <TD>Form of Restricted Global Class R Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit E&#45;2</U>:</TD>
    <TD>Form of Temporary Global Class R Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit E&#45;3</U>:</TD>
    <TD>Form of Permanent Global Class R Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit F</U>:</TD>
    <TD>Form of Series 2022-4 Demand Note</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><U>Exhibit G</U>:</TD>
    <TD>Form of Letter of Credit</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><U>Exhibit H</U>:</TD>
    <TD>Form of Lease Payment Deficit Notice</TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse; margin-left: 1in">
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD STYLE="width: 15%"><FONT STYLE="font-size: 10pt"><U>Exhibit I</U>:</FONT></TD>
    <TD STYLE="width: 75%"><FONT STYLE="font-size: 10pt">Form of Demand Notice</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit J</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Supplemental Indenture No. 4 to the Base Indenture</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit K</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the AESOP I Operating Lease</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit L</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the Finance Lease</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit M:</U></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the AESOP I Operating Lease Loan Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit N:</U></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the AESOP I Finance Lease Loan Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit O</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the AESOP II Operating Lease</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit P</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to Master Exchange Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit Q</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to the Escrow Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit R</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amendment to Administration Agreement</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(198,244,249)">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit S-1</U>:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Transfer Certificate for Class D Notes (Transferee)</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>Exhibit S-2</U>:</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Form of Transfer Certificate for Class D Notes (Transferor)</P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">Section 5.4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Ratification of Base Indenture</U>. As supplemented by this Supplement, the Base Indenture is in all respects ratified and confirmed
and the Base Indenture as so supplemented by this Supplement shall be read, taken, and construed as one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts</U>. This Supplement may be executed in any number of counterparts, each of which so executed shall be deemed to
be an original, but all of such counterparts shall together constitute but one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law</U>. This Supplement shall be construed in accordance with the law of the State of New York, and the obligations,
rights and remedies of the parties hereto shall be determined in accordance with such law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendments</U>. This Supplement may be modified or amended from time to time in accordance with the terms of the Base Indenture;
<U>provided</U>, <U>however</U>, that if, pursuant to the terms of the Base Indenture or this Supplement, the consent of the Required
Noteholders is required for an amendment or modification of this Supplement or any other Related Document, such requirement shall be satisfied
if such amendment or modification is consented to by the Requisite Series 2022-4 Noteholders; <U>provided</U>, <U>further</U>, that, (A)
so long as (i) no Amortization Event has occurred and is continuing and (ii) the Rating Agency Consent Condition is met with respect to
the outstanding Series 2022-4 Notes, ABRCF shall be able to either (x) increase any of the Series 2022-4 Maximum Amounts (other than the
Series 2022-4 Maximum Non-Program Vehicle Amount or the Series 2022-4 Maximum Non-Perfected Vehicle Amount) by an amount not to exceed
10% (or, in the case of the Series 2022-4 Maximum Tesla Amount, an amount not to exceed 15%) of the aggregate Net Book Value of all Vehicles
leased under the Leases or (y) include a new Series 2022-4 Maximum Amount and related amendments for any Manufacturer that becomes an
Eligible Non-Program Manufacturer or Eligible Program</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Manufacturer after the Series 2022-4 Closing
Date, in each case, at any time without the consent of the Series 2022-4 Noteholders, (B) ABRCF shall be able to modify or amend any Series
2022-4 Maximum Amount at any time with the consent of a Requisite Series 2022-4 Noteholders and (C) ABRCF may amend or modify the terms
of this Supplement without the consent of any Series 2022-4 Noteholders to clarify that no interest has accrued with respect to the Class
D Notes and no Class D Monthly Interest is due with respect to the Class D Notes for so long as ABRCF retains 100% of the Class D Notes;
<U>provided</U>, <U>further</U>, that, notwithstanding anything in this Section 5.7 or Article 8 or Article 12 of the Base Indenture to
the contrary, this Supplement and any Related Documents relating solely to the Series 2022-4 Notes may be amended to provide for the issuance
of any Class E Notes or Additional Class R Notes in accordance with Section 5.15 without the consent of any Class A Noteholder, any Class
B Noteholder, any Class C Noteholder, any Class D Noteholder or any Class R Noteholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Discharge of Base Indenture</U>. Notwithstanding anything to the contrary contained in the Base Indenture, no discharge of the
Indenture pursuant to Section 11.1(b) of the Base Indenture will be effective as to the Series 2022-4 Notes without the consent of the
Requisite Series 2022-4 Noteholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice to Rating Agencies</U>. The Trustee shall provide to each Rating Agency a copy of (x) each notice, opinion of counsel,
certificate or other item delivered to, or required to be provided by, the Trustee pursuant to this Supplement or any other Related Document
and (y) any amendment or modification hereto pursuant to this Supplement or any other Related Document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Capitalization of ABRCF</U>. ABRCF agrees that on the Series 2022-4 Closing Date it will have capitalization in an amount equal
to or greater than 3% of the sum of (x) the Series 2022-4 Invested Amount and (y) the invested amount of the Series 2010-6 Notes, the
Series 2011-4 Notes, the Series 2015-3 Notes, the 2017-1 Notes, the 2017-2 Notes, the 2018-1 Notes, the Series 2018-2 Notes, the Series
2019-2 Notes, the Series 2019-3 Notes, the Series 2020-1 Notes, the Series 2020-2 Notes, the Series 2021-1 Notes, the Series 2021-2 Notes,
the Series 2022-1 Notes, the Series 2022-2 Notes and the Series 2022-3 Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Required Noteholders</U>. Subject to Section 5.7 above, any action pursuant to Section 5.6, Section 8.13 or Article 9 of the
Base Indenture that requires the consent of, or is permissible at the direction of, the Required Noteholders with respect to the Series
2022-4 Notes pursuant to the Base Indenture shall only be allowed with the consent of, or at the direction of, the Required Controlling
Class Series 2022-4 Noteholders. Any other action pursuant to any Related Document which requires the consent or approval of, or the waiver
by, the Required Noteholders with respect to the Series 2022-4 Notes shall require the consent or approval of, or waiver by, the Requisite
Series 2022-4 Noteholders; <U>provided</U>, <U>however</U>, that, notwithstanding anything in this Section 5.11 or Article 8 or Article
12 of the Base Indenture to the contrary, any Related Document relating solely to the Series 2022-4 Notes may be amended to provide for
the issuance of any Class E Notes or Additional Class R Notes in accordance with Section 5.15 without the consent of any Class A Noteholder,
any Class B Noteholder, any Class&nbsp;C Noteholder, any Class D Noteholder or any Class R Noteholder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Demand Notes</U>. Other than pursuant to a demand thereon pursuant to Section&nbsp;2.5, ABRCF shall not reduce
the amount of the Series 2022-4 Demand Notes or forgive amounts payable thereunder so that the outstanding principal amount of the Series
2022-4 Demand Notes after such reduction or forgiveness is less than the Series 2022-4 Allocated Multi-Series Letter of Credit Liquidity
Amount. ABRCF shall not agree to any amendment of the Series 2022-4 Demand Notes without first satisfying the Rating Agency Confirmation
Condition and the Rating Agency Consent Condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Supplement</U>. This Supplement shall cease to be of further effect when all outstanding Series 2022-4 Notes
theretofore authenticated and issued have been delivered (other than destroyed, lost, or stolen Series 2022-4 Notes which have been replaced
or paid) to the Trustee for cancellation, ABRCF has paid all sums payable hereunder, and, if the Series 2022-4 Demand Note Payment Amount
on the Multi-Series Letter of Credit Termination Date was greater than zero, all amounts have been withdrawn from the Series 2022-4 Cash
Collateral Account in accordance with Section 2.8(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Noteholder Consent to Certain Amendments</U>. Each Series 2022-4 Noteholder, upon any acquisition of a Series 2022-4 Note, will
be deemed to agree and consent to (i) the execution by ABRCF of a Supplemental Indenture to the Base Indenture substantially in the form
of <U>Exhibit J</U> hereto, (ii) the execution of an amendment to the AESOP I Operating Lease substantially in the form of <U>Exhibit
K</U> hereto, (iii) the execution of an amendment to the Finance Lease substantially in the form of <U>Exhibit L</U> hereto, (iv) the
execution of an amendment to the AESOP I Operating Lease Loan Agreement substantially in the form of <U>Exhibit M</U> hereto, (v) the
execution of an amendment to the AESOP I Finance Lease Loan Agreement substantially in the form of <U>Exhibit N</U> hereto, (vi) the execution
of an amendment to the AESOP II Operating Lease substantially in the form of <U>Exhibit O</U> hereto, (vii) the execution of an amendment
to the Master Exchange Agreement substantially in the form of <U>Exhibit P</U> hereto, (viii) the execution of an amendment to the Escrow
Agreement substantially in the form of <U>Exhibit Q</U> hereto and (ix) the execution of an amendment to the Administration Agreement
substantially in the form of <U>Exhibit R</U> hereto. Such deemed consent will apply to each proposed amendment set forth in <U>Exhibits
J</U>, <U>K</U>, <U>L</U>, <U>M</U>, <U>N</U>, <U>O</U>, <U>P</U>, <U>Q</U> and <U>R</U> individually, and the failure to adopt any of
the amendments set forth therein will not revoke the consent with respect to any other amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Issuance of Class E Notes and Additional Class R Notes</U>. No Class&nbsp;E Notes shall be issued on the Series 2022-4 Closing
Date. On any date during the Series 2022-4 Revolving Period, ABRCF may (i) issue Class E Notes and (ii) issue additional Class R Notes
in connection with the issuance of Class E Notes, to the extent that ABRCF determines such issuance is required to comply with the U.S.
Risk Retention Rules (such notes, the &#8220;<U>Additional Class R Notes</U>&#8221;), subject to satisfaction of the following conditions
precedent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>ABRCF and the Trustee shall have entered into an amendment to this Supplement (i) providing that the Class E Notes will bear a
fixed rate of interest, determined on or prior the Additional Notes Closing Date, (ii) providing that the expected final payment date
for the Class E Notes will be the Series 2022-4 Expected Final Distribution Date, (iii) providing that the principal amount of the Class
E Notes will be due and payable on the Series 2022-4 Final Distribution Date, (iv) providing that the controlled amortization period with
respect to the Class&nbsp;E Notes will be the Series 2022-4 Controlled Amortization Period and (v) providing for</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">payment mechanics with respect to the Class
E Notes substantially similar to those with respect to the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes (other
than as set forth below) and consistent with Section 2.12 and such other provisions with respect to the Class E Notes and the Additional
Class R Notes as may be required for such issuance;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received a Company Request at least two (2) Business Days (or such shorter time as is acceptable to the
Trustee) in advance of the proposed closing date for the issuance of the Class E Notes and the Additional Class R Notes (if any) (the
&#8220;<U>Additional Notes Closing Date</U>&#8221;) requesting that the Trustee authenticate and deliver the Class&nbsp;E Notes specified
in such Company Request (such specified Class E Notes, the &#8220;<U>Proposed Class E Notes</U>&#8221;) and the Additional Class R Notes,
if any, specified in such Company Request;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received a Company Order authorizing and directing the authentication and delivery of the Proposed Class
E Notes and the Additional Class&nbsp;R Notes, if any, by the Trustee and specifying the designation of the Proposed Class E Notes, the
initial aggregate principal amount of the Proposed Class E Notes to be authenticated, the Note Rate with respect to the Proposed Class
E Notes and the initial aggregate principal amount of the Additional Class R Notes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received written confirmation that the Rating Agency Confirmation Condition shall have been satisfied with
respect to the issuance of the Proposed Class E Notes and Additional Class R Notes (if any) (including with respect to the Class A Notes,
the Class B Notes, the Class C Notes and the Class D Notes);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received an Officer&#8217;s Certificate of ABRCF dated as of the Additional Notes Closing Date to the effect
that (i) no Amortization Event with respect to the Series 2022-4 Notes, Aggregate Asset Amount Deficiency, Series 2022-4 Enhancement Deficiency,
Loan Event of Default, AESOP I Operating Lease Vehicle Deficiency, Manufacturer Event of Default, Lease Event of Default, Potential Amortization
Event with respect to the Series 2022-4 Notes, Potential Loan Event of Default, Potential Lease Event of Default, or Potential Manufacturer
Event of Default is continuing or will occur as a result of the issuance of the Proposed Class E Notes and Additional Class R Notes (if
any), (ii) the issuance of the Proposed Class E Notes and Additional Class R Notes (if any) will not result in any breach of any of the
terms, conditions or provisions of or constitute a default under any indenture, mortgage, deed of trust or other agreement or instrument
to which ABRCF is a party or by which it or its property is bound or any order of any court or administrative agency entered in any suit,
action or other judicial or administrative proceeding to which ABRCF is a party or by which it or its property may be bound or to which
it or its property may be subject, (iii) all conditions precedent provided in this Supplement and the Base Indenture with respect to the
authentication and delivery of the Proposed Class E Notes and Additional Class R Notes (if any) have been complied with and (iv) the issuance
of the Proposed Class E Notes and Additional Class R Notes (if any) and any related amendments to this Supplement and any Related Document
relating solely to the Series 2022-4 Notes will not reduce the availability of the Series 2022-4 Enhancement to support the payment of
interest on or principal of the Class A Notes, the Class B Notes, the Class C Notes or the Class D Notes in any material respect;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> No amendments to this Supplement or any Related Document relating solely to the Series 2022-4 Notes in connection with the issuance
of the Proposed Class E Notes and the Additional Class R Notes, if any, may provide for (i) the application of the amount allocated to
the Series 2022-4 Notes and available under the Multi-Series Letters of Credit or the Series 2022-4 Reserve Account to support the payment
of interest on or principal of the Class E Notes while any Class A Notes, Class B Notes, Class C Notes or Class D Notes remain outstanding,
(ii) any voting rights in respect of the Class E Notes for so long as any Class A Notes, Class B Notes, Class C Notes, Class D Notes or
Class R Notes are outstanding, other than with respect to any amendments to the Indenture or any Related Document pursuant to clauses
(i) and (ii) of Section 12.2 of the Base Indenture, (iii) the addition of any Amortization Event with respect to the Series 2022-4 Notes
other than those related to payment defaults on the Class E Notes similar to those in respect of the Class A Notes, the Class B Notes,
the Class C Notes, the Class D Notes or the Class R Notes and enhancement or liquidity deficiencies in respect of the credit enhancement
supporting the Class E Notes similar to those in respect of the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes
or (iv) the reallocation of Principal Collections allocable to the Series 2022-4 Notes to pay interest on the Class E Notes while the
Class A Notes, Class B Notes, Class C Notes or the Class D Notes remain outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Trustee shall have received opinions of counsel substantially similar to those received in connection with the offering and
sale of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class R Notes, including, without limitation,
opinions to the effect that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(x) the Proposed Class E Notes should be treated as indebtedness of ABRCF for federal and New York state income tax purposes, (y)
the issuance of the Proposed Class E Notes and Additional Class R Notes (if any) will not result in any of the Class A Notes, the Class
B Notes, the Class C Notes, the Class D Notes (to the extent the Class D Notes are characterized as debt for federal or New York state
income tax purposes) or any other outstanding Series of Notes (excluding the Class R Notes and any other Series identified as &#8220;Class
R&#8221;) failing to be characterized as debt for federal or New York state income tax purposes and (z) the issuance of the Proposed Class
E Notes will not impact the treatment of ABRCF as a partnership for U.S. federal income tax purposes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all conditions precedent provided for in the Base Indenture and this Supplement with respect to the authentication and delivery
of the Proposed Class E Notes and Additional Class R Notes (if any) has been complied with in all material respects; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 1in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Proposed Class E Notes and Additional Class R Notes (if any) have been duly authorized and executed and, when authenticated
and delivered in accordance with the provisions of the Base Indenture and this Supplement, will constitute valid, binding and enforceable
obligations of ABRCF entitled to the benefits of the Base Indenture and this Supplement, subject, in the case of enforcement, to bankruptcy,
insolvency, reorganization, moratorium and other similar laws affecting creditors&#8217; rights generally and to general principles of
equity.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information</U>.</P>

<P STYLE="margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Trustee and each Series 2022-4 Note Owner agrees,
by its acceptance and holding of a beneficial interest in a Series 2022-4 Note, to maintain the confidentiality of all Confidential Information
in accordance with procedures adopted by the Trustee or such Series 2022-4 Note Owner in good faith to protect confidential information
of third parties delivered to such Person; <U>provided</U>, <U>however</U>, that such Person may deliver or disclose Confidential Information
to: (i) such Person&#8217;s directors, trustees, officers, employees, agents, attorneys, independent or internal auditors and affiliates
who agree to hold confidential the Confidential Information substantially in accordance with the terms of this Section 5.16; (ii) such
Person&#8217;s financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially
in accordance with the terms of this Section 5.16; (iii) any other Series 2022-4 Note Owner; (iv) any Person of the type that would be,
to such Person&#8217;s knowledge, permitted to acquire an interest in the Series 2022-4 Notes in accordance with the requirements of
the Indenture to which such Person sells or offers to sell any such Series 2022-4 Note or any part thereof and that agrees to hold confidential
the Confidential Information substantially in accordance with this Section 5.16 (or in accordance with such other confidentiality procedures
as are acceptable to ABRCF); (v) any federal or state or other regulatory, governmental or judicial authority having jurisdiction over
such Person; (vi)&nbsp;the National Association of Insurance Commissioners or any similar organization, or any nationally recognized
rating agency that requires access to information about the investment portfolio of such Person, (vii) any reinsurers or liquidity or
credit providers that agree to hold confidential the Confidential Information substantially in accordance with this Section 5.16 (or
in accordance with such other confidentiality procedures as are acceptable to ABRCF); (viii) any other Person with the consent of ABRCF;
or (ix) any other Person to which such delivery or disclosure may be necessary or appropriate (A) to effect compliance with any law,
rule, regulation, statute or order applicable to such Person, (B) in response to any subpoena or other legal process upon prior notice
to ABRCF (unless prohibited by applicable law, rule, order or decree or other requirement having the force of law), (C) in connection
with any litigation to which such Person is a party upon prior notice to ABRCF (unless prohibited by applicable law, rule, order or decree
or other requirement having the force of law) or (D)&nbsp;if an Amortization Event with respect to the Series 2022-4 Notes has occurred
and is continuing, to the extent such Person may reasonably determine such delivery and disclosure to be necessary or appropriate in
the enforcement or for the protection of the rights and remedies under the Series 2022-4 Notes, the Indenture or any other Related Document;
<U>provided</U>, <U>further</U>, that delivery to any Series 2022-4 Note Owner of any report or information required by the terms of
the Indenture to be provided to such Series 2022-4 Note Owner shall not be a violation of this Section 5.16. Each Series 2022-4 Note
Owner agrees, by acceptance of a beneficial interest in a Series 2022-4 Note, except as set forth in clauses (v), (vi) and (ix) above,
that it shall use the Confidential Information for the sole purpose of making an investment in the Series 2022-4 Notes or administering
its investment in the Series 2022-4 Notes. In the event of any required disclosure of the Confidential Information by such Series 2022-4
Note Owner, such Series 2022-4 Note Owner agrees to use reasonable efforts to protect the confidentiality of the Confidential Information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For the purposes of this Section 5.16, &#8220;<U>Confidential Information</U>&#8221; means information delivered to the Trustee
or any Series 2022-4 Note Owner by or on behalf of ABRCF in connection with and relating to the transactions contemplated by or otherwise</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">pursuant to the Indenture and the Related Documents;
<U>provided</U>, <U>however</U>, that such term does not include information that: (i) was publicly known or otherwise known to the Trustee
or such Series 2022-4 Note Owner prior to the time of such disclosure; (ii) subsequently becomes publicly known through no act or omission
by the Trustee, any Series 2022-4 Note Owner or any person acting on behalf of the Trustee or any Series 2022-4 Note Owner; (iii) otherwise
is known or becomes known to the Trustee or any Series 2022-4 Note Owner other than (x) through disclosure by ABRCF or (y) as a result
of the breach of a fiduciary duty to ABRCF or a contractual duty to ABRCF; or (iv) is allowed to be treated as non&#45;confidential by
consent of ABRCF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Capitalized Cost Covenant</U>. ABRCF hereby agrees that it shall not permit the aggregate Capitalized Cost for all Vehicles
purchased in any model year that are not subject to a Manufacturer Program to exceed 85% of the aggregate MSRP (Manufacturer Suggested
Retail Price) of all such Vehicles; <U>provided</U>, <U>however</U>, that ABRCF shall not&nbsp;modify the customary buying patterns or
purchasing criteria used by the Administrator and its Affiliates with respect to the Vehicles if the primary purpose of such&nbsp;modification
is&nbsp;to comply with this covenant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Further Limitation of Liability</U>. Notwithstanding anything in this Supplement to the contrary, in no event shall the Trustee
or its directors, officers, agents or employees be liable under this Supplement for special, indirect, punitive or consequential loss
or damage of any kind whatsoever (including, but not limited to, lost profits), even if the Trustee or its directors, officers, agents
or employees have been advised of the likelihood of such loss or damage and regardless of the form of action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Series 2022-4 Agent</U>. The Series 2022-4 Agent shall be entitled to the same rights, benefits, protections, indemnities and
immunities hereunder as are granted to the Trustee under the Base Indenture as if set forth fully herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.20.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Force Majeure</U>. In no event shall the Trustee be liable for any failure or delay in the performance of its obligations under
this Supplement because of circumstances beyond the Trustee&#8217;s control, including, but not limited to, a failure, termination, suspension
of a clearing house, securities depositary, settlement system or central payment system in any applicable part of the world or acts of
God, flood, war (whether declared or undeclared), civil or military disturbances or hostilities, nuclear or natural catastrophes, political
unrest, explosion, severe weather or accident, earthquake, terrorism, fire, riot, labor disturbances, strikes or work stoppages for any
reason, embargo, government action, including any laws, ordinances, regulations or the like (whether domestic, federal, state, county
or municipal or foreign) which delay, restrict or prohibit the providing of the services contemplated by this Supplement, or the unavailability
of communications or computer facilities, the failure of equipment or interruption of communications or computer facilities, or the unavailability
of the Federal Reserve Bank wire or telex or other wire or communication facility, or any other causes beyond the Trustee&#8217;s control
whether or not of the same class or kind as specified above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.21.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Waiver of Jury Trial, etc</U>. EACH OF THE PARTIES HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT
PERMITTED BY APPLICABLE LAW) ANY RIGHTS IT MAY HAVE TO A</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">TRIAL BY JURY IN RESPECT OF ANY LITIGATION
BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS SUPPLEMENT, THE SERIES 2022-4 NOTES, THE SERIES 2022-4 DEMAND NOTES,
THE MULTI-SERIES LETTER OF CREDIT AND ANY OTHER RELATED DOCUMENTS EXECUTED IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2022-4 NOTES,
OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTIONS OF THE PARTIES HERETO. THIS PROVISION IS
A MATERIAL INDUCEMENT FOR THE PARTIES HERETO TO ENTER INTO THIS SUPPLEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.22.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Submission to Jurisdiction</U>. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY SUBMITS (TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW) TO THE NON-EXCLUSIVE JURISDICTION OF ANY NEW YORK STATE OR FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN, NEW YORK CITY, STATE
OF NEW YORK, OVER ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENT, THE SERIES 2022-4 NOTES, THE SERIES 2022-4 DEMAND
NOTES, THE MULTI-SERIES LETTER OF CREDIT AND ANY OTHER RELATED DOCUMENTS EXECUTED IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2022-4
NOTES AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND
DETERMINED IN SUCH NEW YORK STATE OR FEDERAL COURT. EACH OF THE PARTIES HERETO EACH HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY LAW, ANY OBJECTION EACH MAY NOW OR HEREAFTER HAVE, TO THE LAYING OF VENUE IN ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT AS WELL
AS ANY RIGHT EACH MAY NOW OR HEREAFTER HAVE, TO REMOVE ANY SUCH ACTION OR PROCEEDING, ONCE COMMENCED, TO ANOTHER COURT ON THE GROUNDS
OF <U>FORUM NON CONVENIENS</U> OR OTHERWISE. NOTHING CONTAINED HEREIN SHALL PRECLUDE ANY PARTY HERETO FROM BRINGING AN ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS SUPPLEMENT, THE SERIES 2022-4 NOTES, THE SERIES 2022-4 DEMAND NOTES, THE MULTI-SERIES LETTER OF CREDIT
AND ANY OTHER RELATED DOCUMENTS EXECUTED IN CONNECTION WITH THE ISSUANCE OF THE SERIES 2022-4 NOTES IN ANY OTHER COUNTRY, STATE OR PLACE
HAVING JURISDICTION OVER SUCH ACTION OR PROCEEDING.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">Section 5.23.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Additional Terms of the Series 2022-4 Notes.</U> Solely with respect to this Supplement and the Series 2022-4 Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Opinion of Counsel set forth in Section 2.2(f)(i)(x) of the Base Indenture shall not be required with respect to the Class D Notes or
the Class R Notes. The Opinion of Counsel set forth in Section 2.2(f)(i)(y) of the Base Indenture shall not be required with respect to
the Class D Notes or the Class R Notes for any Series issued after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The terms Rating Agency Confirmation Condition and Rating Agency Consent Condition shall be deemed to be satisfied with respect
to Fitch if ABRCF notifies Fitch of the applicable action at least ten (10) calendar days prior to such action (or, if Fitch agrees to
less than ten (10) calendar days&#8217; notice, such lesser period) and Fitch has not notified ABRCF and the Trustee in writing that such
action will result in a reduction or withdrawal of the rating</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">given to the Class A Notes, the Class B Notes
or the Class C Notes by Fitch within such ten (10) calendar day (or lesser) period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The transfer by a transferor (a &#8220;<U>Transferor</U>&#8221;) holding a beneficial interest in a Global Class D Note to a subsequent
transferee (a &#8220;<U>Transferee</U>&#8221;) who wishes to take delivery thereof in the form of a beneficial interest in such Global
Class D Note will be made upon receipt by the Trustee, at the office of the Trustee, of (x) a transfer certificate from the Transferee
substantially in the form of <U>Exhibit S-1</U> (unless the Transferee is (i) ABRCF in its capacity as initial Holder of Class D Notes
or (ii) an Initial Purchaser, in which case no such transfer certificate under this clause (x) will be required) and (y) a transfer certificate
from the Transferor substantially in the form of <U>Exhibit S-2</U> (unless the Transferor is an Initial Purchaser or transferring 100%
of its ownership interests in the Class D Notes to a single beneficial owner, in which case no such transfer certificate under this clause
(y) will be required). Delivery of any such certificate to ABRCF shall be required to be delivered to the email address set forth in <U>Exhibits
S-1</U> and <U>S-2</U>.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, ABRCF
and the Trustee have caused this Supplement to be duly executed by their respective officers thereunto duly authorized as of the day
and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">AVIS BUDGET RENTAL CAR FUNDING
(AESOP) LLC</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="vertical-align: top; width: 35%">/s/  David Calabria</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: #000000 1px solid; vertical-align: top">Name:  David Calabria<BR>Title: Senior Vice President and Treasurer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><I>Signature
Page to AESOP 2022-4 Indenture Supplement</I></FONT></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in"></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Trustee</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="vertical-align: top; width: 35%">/s/   Vassilena Ouzounova</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: #000000 1px solid; vertical-align: top">Name:   Vassilena Ouzounova<BR>Title: Vice President</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 1in"></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 10pt; text-indent: -10pt">THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Series 2022-4 Agent</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="vertical-align: top; width: 35%">/s/   Vassilena Ouzounova</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: #000000 1px solid; vertical-align: top">Name:   Vassilena Ouzounova<BR>Title: Vice President</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt"><I>Signature
Page to AESOP 2022-4 Indenture Supplement</I></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>car-20220721_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
<TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.22.2</span><table class="report" border="0" cellspacing="2" id="idm140196339398944">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Jul. 21, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jul. 21,  2022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-10308<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Avis Budget Group, Inc.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000723612<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">06-0918165<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">6 Sylvan Way<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Parsippany<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NJ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">07054<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">973<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">496-4700<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, par value $0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">CAR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
