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Exhibit 10.128

 
SUPPLEMENTAL AGREEMENT TO
RECEIVABLES PURCHASE AGREEMENT

This SUPPLEMENTAL AGREEMENT TO RECEIVABLES PURCHASE 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
Receivables Purchase Agreement, dated as of September 28, 2001, between World
Financial Network National Bank, a national banking association located in
Columbus, Ohio (“Ohio Bank”), as RPA Seller, and WFN Credit, as Transferor (as
amended as of June 24, 2008 and March 30, 2010, and as may be further amended
from time to time, the “Receivables Purchase Agreement”).  Capitalized terms
used and not otherwise defined in this Agreement are used as defined in the
Receivables Purchase 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 RPA Seller under the Receivables Purchase 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
RPA Seller under the Receivables Purchase 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 9.5(a) of the
Receivables Purchase Agreement has been satisfied.

SECTION 3.  Effect of Agreement; Ratification. i) On and after the Effective
Time, this Agreement shall be a part of the Receivables Purchase Agreement and
each reference in the Receivables Purchase Agreement to “this Agreement” or
“hereof,” “hereunder” or words of like import, and each reference in any other
Transaction Document to the Receivables Purchase Agreement shall mean and be a
reference to the Receivables Purchase Agreement as supplemented hereby.
 
 
Supplemental Agreement to Receivables Purchase
Agreement (Trust III)
 
 
 

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(b)           Except as expressly amended hereby, the Receivables Purchase
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 Receivables Purchase
Agreement (Trust III)
 
 
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:     UNION BANK, N.A., as Trustee               By:
/s/ Eva Aryeetey   Name:   Eva Aryeetey   Title:   Vice President  

 
 
Supplemental Agreement to Receivables Purchase
Agreement (Trust III)
 
 

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