Exhibit 5.2
September 17, 2024
To Each of the Parties Listed
on Schedule A Attached Hereto
Re: | John Deere Owner Trust 2024-C |
Ladies and Gentlemen:
We have acted as special Delaware counsel to John Deere Owner Trust 2024-C, a statutory trust existing under the laws of the State of Delaware (the “Trust”), in connection with the transactions contemplated by (i) the Trust Agreement, dated as of September 16, 2024 (the “Trust Agreement”), between John Deere Receivables LLC, a Nevada limited liability company, as depositor (the “Depositor”), and Computershare Delaware Trust Company, a Delaware limited purpose trust company, as owner trustee (the “Owner Trustee”), and (ii) the Indenture, dated as of September 17, 2024 (the “Indenture”), between the Trust and U.S. Bank Trust Company, National Association, a national banking association, as indenture trustee (the “Indenture Trustee”). This opinion is being delivered to you at your request. Capitalized terms used herein and not otherwise defined are used as defined in, or by reference in, the Trust Agreement, except that references herein to any instrument shall mean such instrument as in effect on the date hereof.
We have examined originals or copies of the following documents:
To Each of the Parties Listed
on Schedule A Attached Hereto
September 17, 2024
Page 2
We have not reviewed any documents other than the foregoing documents for purposes of rendering our opinions as expressed herein, and we have assumed that there exists no provision of any such other document that bears upon or is inconsistent with our opinions as expressed herein. We have conducted no independent factual investigation of our own but have relied solely upon the foregoing documents, the statements and information set forth therein and the additional matters recited or assumed herein, all of which we have assumed to be true, complete and accurate in all material respects.
Based upon and subject to the foregoing and subject to the assumptions, exceptions, qualifications, and limitations set forth herein, it is our opinion that:
To Each of the Parties Listed
on Schedule A Attached Hereto
September 17, 2024
Page 3
The foregoing opinions are subject to the following exceptions, qualifications and assumptions:
To Each of the Parties Listed
on Schedule A Attached Hereto
September 17, 2024
Page 4
This opinion may be relied upon by you in connection with the matters set forth herein. Without our prior written consent, this opinion may not be relied upon by or furnished to any other person or entity for any purpose; provided, however, copies of this opinion may be posted by the Administrator to a password protected website accessible by any non-hired “nationally recognized statistical rating organization” (an “NRSRO”) that provides to the Administrator the certification required by subsection (e) of Rule 17g-5 under the Securities Exchange Act of 1934, as amended (or any successor provision to such subsection) (“Rule 17g-5”), and agrees to keep this opinion confidential as contemplated by Rule 17g-5; provided, that no such NRSRO will be entitled to rely on this opinion, and each such NRSRO, by accessing a copy
To Each of the Parties Listed
on Schedule A Attached Hereto
September 17, 2024
Page 5
of this opinion, will be deemed to have agreed to comply with the terms of this sentence and not to provide copies of this opinion to any other person.
We hereby consent to the filing of this opinion with the Securities and Exchange Commission as an exhibit to the Depositor's Form 8-K in connection with the Registration Statement for the Notes. In giving the foregoing consent, we do not thereby admit that we come within the category of Persons whose consent is required under Section 7 of the Securities Act of 1933, as amended, or the rules and regulations of the Securities and Exchange Commission thereunder with respect to any part of the Registration Statement, including this exhibit.
Very truly yours,
/s/ Richards, Layton & Finger, P.A.
TJH/KAC
SCHEDULE A
ISSUER
John Deere Owner Trust 2024-C
DEPOSITOR
John Deere Receivables LLC
ADMINISTRATOR
John Deere Capital Corporation
OWNER TRUSTEE
Computershare Delaware Trust Company
INDENTURE TRUSTEE
U.S. Bank Trust Company, National Association
UNDERWRITERS
BofA Securities, Inc.
TD Securities (USA) LLC
Citigroup Global Markets Inc.
MUFG Securities Americas Inc.
Credit Agricole Securities (USA) Inc.
RATING AGENCIES
Moody’s Investors Service, Inc.
Fitch Ratings, Inc.