Attached files
file | filename |
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8-K - FORM 8-K - Fifth Third Holdings Funding, LLC | d739510d8k.htm |
EX-5.1 - EX-5.1 - Fifth Third Holdings Funding, LLC | d739510dex51.htm |
EX-1.1 - EX-1.1 - Fifth Third Holdings Funding, LLC | d739510dex11.htm |
Exhibit 8.1
Mayer Brown LLP 71 South Wacker Drive Chicago, Illinois 60606-4637 | ||
Main Tel (312) 782-0600 | ||
June 5, 2014 | Main Fax (312) 701-7711 www.mayerbrown.com |
Fifth Third Holdings Funding, LLC
1701 Golf Road, Tower 1, 9th Floor
Rolling Meadows, Illinois 60008
Re: | Fifth Third Holdings Funding, LLC |
Registration Statement on Form S-3 (No. 333-182215) |
Ladies and Gentlemen:
We have acted as special tax counsel to Fifth Third Holdings Funding, LLC (the Company) in connection with the above-captioned Registration Statement (the Registration Statement) and the offering of the Class A-1 Auto Loan Asset Backed Notes, the Class A-2-A Auto Loan Asset Backed Notes, the Class A-2-B Auto Loan Asset Backed Notes, the Class A-3 Auto Loan Asset Backed Notes and the Class A-4 Auto Loan Asset Backed Notes (collectively, the Notes) described in the final prospectus supplement dated June 4, 2014 (the Prospectus Supplement) and the base prospectus dated May 28, 2014 (the Base Prospectus, and collectively with the Prospectus Supplement, the Prospectus), which have been filed with the Securities and Exchange Commission pursuant to Rule 424(b) under the Securities Act of 1933, as amended (the Act). As described in the Prospectus, the Notes will be issued by Fifth Third Auto Trust 2014-2 (the Issuer), a trust formed by the Company pursuant to a trust agreement (the Trust Agreement) between the Company and Wilmington Trust, National Association, as owner trustee. The Notes will be issued pursuant to an Indenture (the Indenture) between the Issuer and Deutsche Bank Trust Company Americas, as indenture trustee (the Indenture Trustee).
In that connection, we generally are familiar with the proceedings required to be taken in connection with the proposed authorization and issuance of the Notes and have examined copies of such documents, corporate records and other instruments as we have deemed necessary or appropriate for the purpose of this opinion, including the Prospectus, the Trust Agreement and the forms of the Indenture and other documents prepared in connection with the issuance of the Notes (collectively, the Operative Documents).
The opinion set forth herein is based upon the applicable provisions of the Internal Revenue Code of 1986, as amended (the Code), Treasury regulations promulgated and proposed thereunder, current positions of the Internal Revenue Service (the IRS) contained in published Revenue Rulings and Revenue Procedures, current administrative positions of the IRS and existing judicial decisions. No tax rulings will be sought from the IRS with respect to any of the matters discussed herein. The statutory provisions, regulations and interpretations on which our opinions are based are subject to change, which changes could apply retroactively. In addition, there can be no assurance that positions contrary to those stated in our opinions may not be taken by the IRS.
Mayer Brown LLP operates in combination with other Mayer Brown entities with offices in Europe and Asia
and is associated with Tauil & Chequer Advogados, a Brazilian law partnership.
Mayer Brown LLP
Fifth Third Holdings Funding, LLC
June 5, 2014
Page 2
Based on the foregoing and assuming that the Operative Documents are executed and delivered in substantially the form we have examined and that the transactions contemplated to occur under the Operative Documents in fact occur in accordance with the terms thereof, we hereby confirm and adopt the opinions set forth in the Prospectus and in the Prospectus Supplement (to the extent they relate to federal income tax consequences) under the captions Summary of TermsTax Status and Material Federal Income Tax Consequences (as modified by the statements, if any, set forth under those same headings in the related Prospectus Supplement).
We know that we are referred to under the captions referred to above included in the Prospectus, and we hereby consent to the use of our name therein and to use of this opinion for filing of this opinion as Exhibit 8.1 to a Form 8-K filed in connection therewith, without admitting that we are experts within the meaning of the Act or the rules and regulations of the Securities and Exchange Commission issued thereunder, with respect to any part of the Registration Statement or the Prospectus.
Respectfully submitted, |
/s/ Mayer Brown LLP |
Mayer Brown LLP |