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Exhibit 10.110
 
SUPPLEMENTAL AGREEMENT TO
PURCHASE AND SALE AGREEMENT

This SUPPLEMENTAL AGREEMENT TO PURCHASE AND SALE AGREEMENT, dated as of  August
9, 2010 (this “Agreement”), is made between World Financial Network National
Bank, a national banking association located in Wilmington, Delaware (the
“Resultant Bank”) and WFN Credit Company, LLC (“WFN Credit”) to the Purchase and
Sale Agreement, dated as of November 25, 1997, between World Financial Network
National Bank, a national banking association located in Columbus, Ohio (“Ohio
Bank”), successor to Spirit of America National Bank as Seller, and WFN Credit,
successor to Charming Shoppes Receivables Corp., as Purchaser (as amended as of
July 22, 1999, November 9, 2000, May 8, 2001, October 17, 2007, October 30,
2009, March 11, 2010 and June 9, 2010, and as modified by the Consent to the
Purchase and Sale Agreement, dated as of October 17, 2007, the “Purchase and
Sale Agreement”).  Capitalized terms used and not otherwise defined in this
Agreement are used as defined in the Purchase and Sale Agreement.

WHEREAS, pursuant to an Agreement to Merge, dated July 19, 2010, between Ohio
Bank and WFNNB Interim National Bank, a national banking association located in
Wilmington, Delaware (“Delaware Bank”), Ohio Bank will merge with and into
Delaware Bank and the resulting association shall be the Resultant Bank (such
transactions, the “Merger”); and

WHEREAS, the Resultant Bank desires to assume the performance of the covenants
and obligations of the Seller under the Purchase and Sale Agreement as of the
effective time of the Merger (“Effective Time”);

NOW THEREFORE, in consideration of the premises and for other good and valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
the parties hereto agree as follows:

SECTION 1.  Assumption of Obligations.  Effective as of the Effective Time, the
Resultant Bank assumes the performance of every covenant and obligation of the
Seller under the Purchase and Sale Agreement.

SECTION 2.  Conditions to Effectiveness.  This Agreement shall become effective
at the Effective Time; provided that the following conditions have been
satisfied:

(a)  counterparts of this Agreement have been duly executed by each of the
parties to this Agreement, and
 
(b)  each of the conditions precedent described in Section 4.2(a) of the
Purchase and Sale Agreement has been satisfied.
 
SECTION 3.  Effect of Agreement; Ratification. (a) On and after the Effective
Time, this Agreement shall be a part of the Purchase and Sale Agreement and each
reference in the Purchase and Sale Agreement to “this Agreement” or “hereof,”
“hereunder” or words of like import, and each reference in any other Transaction
Document to the Purchase and Sale Agreement shall mean and be a reference to the
Purchase and Sale Agreement as supplemented hereby.
 
Supplemental Agreement to Purchase and Sale
Agreement (Trust II)
 
 
 

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(b)           Except as expressly amended hereby, the Purchase and Sale
Agreement shall remain in full force and effect and is hereby ratified and
confirmed by the parties hereto.

SECTION 4.  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAWS PROVISIONS.

SECTION 5.  Section Headings. Headings used herein are for convenience of
reference only and shall not affect the meaning of this Agreement.

SECTION 6.  Counterparts. This Agreement may be executed in any number of
counterparts, and by the parties hereto on separate counterparts, each of which
shall be an original and all of which taken together shall constitute one and
the same agreement.

 [Signature Page Follows]
 
Supplemental Agreement to Purchase and Sale
Agreement (Trust II)
 
 
2

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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.
 

  WORLD FINANCIAL NETWORK NATIONAL BANK              
By:
 /s/ John J. Coane
    Name:  John J. Coane     Title:  Vice President and CFO

 
WFN CREDIT COMPANY, LLC
             
By:
/s/ Daniel T. Groomes
    Name:  Daniel T. Groomes     Title:  President

 
Acknowledged and accepted by:
     
U.S. BANK NATIONAL ASSOCIATION, as Trustee
            By: /s/ Tamara Schultz-Fugh   Name: Tamara Schultz-Fugh   Title: 
Vice President  

 
Supplemental Agreement to Purchase and Sale
Agreement (Trust II)
 
 

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