Extract to table

The organizational documents of the Issuer and each intermediate special purpose entity shall be governed by the laws of the State of Delaware

This collateral arrangement provides a built-in recovery mechanism: if a borrower defaults on a premium finance loan, the servicer initiates a cancellation of the underlying insurance policy, and the insurance carrier is required to refund the unearned portion of the premium directly to QPF (or its assignee)

4 shall be tested on each addition date during the revolving period at which new receivables are proposed for inclusion in the pool

Any receivable the addition of which would cause a breach of any concentration limit shall be deemed ineligible for inclusion in the pool, and QPF shall not transfer such receivable to QRH or QRF 2022-1

During the revolving period, the following requirements shall apply: • The aggregate outstanding pool balance must at all times equal or exceed $450,000,000 (the "Minimum Pool Balance")

• Each receivable added to the pool during the revolving period must satisfy all of the eligible receivables criteria set forth in Section 3