Receivables Purchase Agreement
BMW FS SECURITIES LLC
FORM OF RECEIVABLES PURCHASE AGREEMENT
between
BMW BANK OF NORTH AMERICA,
as Seller,
and
BMW FS SECURITIES LLC,
as Depositor
Dated as of August 19, 2026
TABLE OF CONTENTS
PAGE
| ARTICLE I | CERTAIN DEFINITIONS | 1 |
| ARTICLE II | CONVEYANCE OF RECEIVABLES | 3 |
| SECTION 2.01 | Conveyance of Receivables | 3 |
| SECTION 2.02 | The Closing | 4 |
| ARTICLE III | REPRESENTATIONS AND WARRANTIES | 4 |
| SECTION 3.01 | Representations and Warranties of the Depositor | 4 |
| SECTION 3.02 | Representations and Warranties of the Seller | 6 |
| SECTION 3.03 | Perfection Representations, Warranties and Covenants | 12 |
| ARTICLE IV | CONDITIONS | 12 |
…