Exhibit 4.3


 Exhibit 4.3 
  
 EXECUTION COPY 
  
 SECOND AMENDMENT 
 TO 
 THE MBNA CREDIT CARD MASTER NOTE TRUST 
 INDENTURE 
  
 THIS SECOND AMENDMENT TO THE MBNA CREDIT CARD MASTER NOTE TRUST INDENTURE,
dated as of January 27, 2006 (this “Amendment”) is by and between the MBNA CREDIT CARD MASTER NOTE TRUST, as Issuer, and THE BANK OF NEW YORK, as Indenture Trustee. 
  
 WHEREAS the Issuer and the Indenture Trustee have executed that certain Indenture, dated as of May 24, 2001 (as amended
and supplemented through the date hereof and as the same may be further amended, supplemented or otherwise modified and in effect from time to time, the “Indenture”); 
  
 WHEREAS the Issuer and the Indenture Trustee wish to amend the Indenture as provided herein; 
  
 NOW THEREFORE, in consideration of the promises and the agreements contained
herein, the parties hereto agree to amend the provisions of the Indenture as follows: 
  
 SECTION 1. Amendment of Section 101. Section 101 of the Indenture is hereby amended by adding the following definitions in the appropriate alphabetical order: 
  
 “Regulation AB” means Subpart 229.1100
– Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1123, as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Commission in the adopting release
(Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (January 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time. 
  
 “Sarbanes Certification” is defined in
Section 1504(iii). 
  
 “Securitization Transaction” means any issuance of new Notes of any series, class or tranche, pursuant to Section 310, whether publicly offered or privately placed, rated or unrated. 
  
 “Servicing Criteria” means the
“servicing criteria” set forth in Item 1122(d) of Regulation AB, as such may be amended from time to time. 
  
 SECTION 2. Amendment of Section 310. Section 310(b) of the Indenture is hereby amended by adding the following sentence at the end of
such Section: 


 In addition, the Issuer agrees to provide notice of new issuances of series, classes or
tranches of Notes as may be required by and in accordance with Item 1121(a)(14) of Regulation AB. 
  
 SECTION 3. Amendment to the Indenture Supplement. The Indenture is hereby amended by adding the following new Article XV after Article XIV of the
Indenture: 
  
 ARTICLE XV 
 COMPLIANCE WITH REGULATION AB 
  
 Section 1501. Intent of the Parties; Reasonableness. MBNA and the Indenture Trustee acknowledge and agree that the purpose of
this Article XV is to facilitate compliance by MBNA with the provisions of Regulation AB and related rules and regulations of the Commission. MBNA shall not exercise its right to request delivery of information or other performance under
these provisions other than in good faith, or for purposes other than MBNA’s compliance with the Securities Act, the Securities Exchange Act and the rules and regulations of the Commission thereunder (or the provision in a private offering of
disclosure comparable to that required under the Securities Act). The Indenture Trustee agrees to cooperate in good faith with any reasonable request by MBNA for information regarding the Indenture Trustee which is required in order to enable MBNA
to comply with the provisions of Items 1109(a), 1109(b), 1117, 1118, 1119 and 1122 of Regulation AB as it relates to the Indenture Trustee or to the Indenture Trustee’s obligations under this Indenture or any Indenture Supplement. 

 
 Section 1502. Additional Representations and
Warranties of the Indenture Trustee. The Indenture Trustee shall be deemed to represent to MBNA, as of the date on which information is provided to MBNA under Section 1503 that, except as disclosed in writing to MBNA prior to such
date: (i) neither the execution or the delivery by the Indenture Trustee of this Indenture or any Indenture Supplement, the performance by the Indenture Trustee of its obligations under this Indenture or any Indenture Supplement nor the
consummation of any of the transactions by the Indenture Trustee contemplated thereby, is in violation of any indenture, mortgage, bank credit agreement, note or bond purchase agreement, long-term lease, license or other agreement or instrument to
which the Indenture Trustee is a party or by which it is bound, which violation would have a material adverse effect on the Indenture Trustee’s ability to perform its obligations under this Indenture or any Indenture Supplement, or of any
judgment or order applicable to the Indenture Trustee; and (ii) there are no proceedings pending or threatened against the Indenture Trustee in any court or before any governmental authority, agency or arbitration board or tribunal which,
individually or in the aggregate, would have a material adverse effect on the right, power and authority of the Indenture Trustee to enter into this Indenture or any Indenture Supplement or to perform its obligations under this Indenture or any
Indenture Supplement. 


 Section 1503. Information to Be Provided by the Indenture Trustee. The
Indenture Trustee shall (i) on or before the final Business Day of each month, provide to MBNA, in writing, such information regarding the Indenture Trustee as is requested for the purpose of compliance with Item 1117 of Regulation AB, and
(ii) as promptly as practicable following notice to or discovery by the Indenture Trustee of any changes to such information, provide to MBNA, in writing, such updated information. 
  
 (a) The Indenture Trustee shall (i) on or before the final Business Day of each January, April, July
and October, provide to MBNA such information regarding the Indenture Trustee as is requested for the purpose of compliance with Items 1103(a)(1), 1109(a), 1109(b), 1118 and 1119 of Regulation AB, and (ii) as promptly as practicable following
notice to or discovery by the Indenture Trustee of any changes to such information, provide to MBNA, in writing, such updated information. Such information shall include, at a minimum: 
  
 (A) the Indenture Trustee’s name and form of organization; 
  
 (B) a description of the extent to which the Indenture
Trustee has had prior experience serving as a trustee for asset-backed securities transactions involving credit card receivables; 
  
 (C) a description of any affiliation or relationship between the Indenture Trustee and any of the following parties to a Securitization
Transaction, as such parties are identified to the Indenture Trustee by MBNA in writing in advance of such Securitization Transaction: 
  
 (1) the sponsor; 
 (2) any depositor; 
 (3) the issuing entity; 
 (4) any servicer; 
 (5) any trustee; 
 (6) any originator; 
 (7) any significant obligor; 
 (8) any enhancement or support provider; and 
 (9) any other material transaction party.

  
 In connection with the above-listed parties, a description of
whether there is, and if so the general character of, any business relationship, agreement, arrangement, transaction or understanding that is entered into outside the ordinary course of business or is on terms other than would be obtained in an
arm’s length transaction with an unrelated third party, apart from the asset-backed securities transaction, that currently exists or that existed during the past two years and that is material to an investor’s understanding of the
asset-backed securities. 
  
 Section 1504.
Report on Assessment of Compliance and Attestation. On or before August 1 of each calendar year, commencing in 2006, the Indenture Trustee shall: 


 (i) deliver to MBNA a report regarding the Indenture Trustee’s assessment of
compliance with the Servicing Criteria during the immediately preceding fiscal year, as required under Rules 13a-18 and 15d-18 of the Securities Exchange Act and Item 1122 of Regulation AB. Such report shall be addressed to MBNA and signed by
an authorized officer of the Indenture Trustee, and shall address each of the Servicing Criteria specified in Exhibit F hereto or such criteria as mutually agreed upon by MBNA and the Indenture Trustee; 
  
 (ii) deliver to MBNA a report of a registered public
accounting firm reasonably acceptable to MBNA that attests to, and reports on, the assessment of compliance made by the Indenture Trustee and delivered pursuant to the preceding paragraph. Such attestation shall be in accordance with Rules
1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Securities Exchange Act; and 
  
 (iii) deliver to MBNA and any other Person that will be responsible for signing the certification (a “Sarbanes
Certification”) required by Rules 13a-14(d) and 15d-14(d) under the Securities Exchange Act (pursuant to Section 302 of the Sarbanes-Oxley Act of 2002) on behalf of the Issuer, the Master Trust or MBNA with respect to a Securitization
Transaction a certification substantially in the form attached hereto as Exhibit E or such form as mutually agreed upon by MBNA and the Indenture Trustee. 
  
 The Indenture Trustee acknowledges that the parties identified in clause (iii) above may rely on the certification provided by the Indenture Trustee
pursuant to such clause in signing a Sarbanes Certification and filing such with the Commission. 
  
 SECTION 4. Addition of Exhibits E and F to Indenture. The Indenture is hereby amended by adding new Exhibits E and F in their respective forms
attached hereto after Exhibit D-3 to the Indenture. 
  
 SECTION 5.
Effectiveness. The amendments provided for by this Amendment shall become effective upon the delivery of the following: 
  
 (a) A Master Trust Tax Opinion. 
  
 (b) An Issuer Tax Opinion. 
  
 (c) An officer’s certificate from the Issuer to the Indenture Trustee and the Owner Trustee to the effect that the Issuer reasonably believes that
this Amendment will not have an Adverse Effect and is not reasonably expected to have an Adverse Effect at any time in the future. 


 (d) Written confirmation from the Note Rating Agencies that this Amendment will not have a Ratings
Effect. 
  
 (e) Counterparts of this Amendment, duly executed by
the parties hereto. 
  
 SECTION 6. Indenture, Indenture
Supplement and terms documents in Full Force and Effect as Amended. Except as specifically amended or waived hereby, all of the terms and conditions of the Indenture and the Indenture Supplement and the terms documents shall remain in full force
and effect. All references to the Indenture and the Indenture Supplement and the terms documents in any other document or instrument shall be deemed to mean such Indenture, Indenture Supplement and terms documents as amended by this Amendment. This
Amendment shall not constitute a novation of the Indenture, the Indenture Supplement or the terms documents, but shall constitute an amendment thereof. The parties hereto agree to be bound by the terms and obligations of the Indenture and the
Indenture Supplement and the terms documents, as amended by this Amendment, as though the terms and obligations of the Indenture and the Indenture Supplement and the terms documents were set forth herein. 
  
 SECTION 7. Counterparts. This Amendment may be executed in any number
of counterparts and by separate parties hereto on separate counterparts, each of which when executed shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument. 
  
 SECTION 8. Governing Law; Submission to Jurisdiction; Agent for Service of
Process. This Amendment shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflict of laws. The parties hereto declare that it is their intention that this Amendment shall be
regarded as made under the laws of the State of Delaware and that the laws of said State shall be applied in interpreting its provisions in all cases where legal interpretation shall be required. Each of the parties hereto agrees (a) that this
Amendment involves at least $100,000.00, and (b) that this Amendment has been entered into by the parties hereto in express reliance upon 6 DEL. C. § 2708. Each of the parties hereto hereby irrevocably and unconditionally agrees
(a) to be subject to the jurisdiction of the courts of the State of Delaware and of the federal courts sitting in the State of Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of
Delaware, to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of legal process, and (2) that, to the fullest extent permitted by applicable law, service of process may also be made on such party
by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service constituting evidence of valid service, and that service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by
applicable law, have the same legal force and effect as if served upon such party personally within the State of Delaware. 
  
 SECTION 9. Defined Terms and Section References. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such
terms in the Indenture. All Section or subsection references herein shall mean Sections or subsections of the Indenture, except as otherwise provided herein. 


 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective
officers as of the day and year first above written. 
  

			
	 MBNA CREDIT CARD MASTER NOTE TRUST,
 by MBNA America Bank, National Association,
as Beneficiary

		
	By:	 	/S/  SCOTT W. MCCARTHY
	 	 	 Name: Scott W. McCarthy
 Title: Executive Vice President

	
	 THE BANK OF NEW YORK,
 as Indenture Trustee and not in its individual capacity

		
	By:	 	/S/  CATHERINE L. CERILLES
	 	 	 Name: Catherine L. Cerilles
 Title: Assistant Vice President



  

			
	 Acknowledged By:
  
 MBNA AMERICA BANK,
 NATIONAL ASSOCIATION,
 as Seller and Servicer

		
	By:	 	/S/  SCOTT W. MCCARTHY
	 	 	 Name: Scott W. McCarthy
 Title: Executive Vice President




 EXHIBIT E 
  

FORM OF ANNUAL CERTIFICATION 
  

	 	Re:	The indenture dated as of May 24, 2001 (as amended, supplemented or otherwise modified from time to time, the “Agreement”), between MBNA Credit Card Master Note Trust
and The Bank of New York 

  
 I,
                                        
        , the
                                        
         of [NAME OF COMPANY] (the “Company”), certify to MBNA America Bank, National Association (“MBNA”), and its officers, with the knowledge and intent that they will rely upon this
certification, that: 
  
 (1) I have reviewed the
report on assessment of the Company’s compliance provided in accordance with Rules 13a-18 and 15d-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing
Assessment”), and the registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation Report”) that
were delivered by the Company to MBNA pursuant to the Agreement (collectively, the “Company Information”); 
  
 (2) To the best of my knowledge, the Company Information, taken as a whole, does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Company Information; 
  
 (3) To the best of my knowledge, all of the Company
Information required to be provided by the Company under the Agreement has been provided to MBNA; and 
  
 (4) To the best of my knowledge, except as disclosed in the Compliance Statement, the Servicing Assessment or the Attestation Report, the
Company has fulfilled its obligations under the Agreement. 
  
  

			
		
	Date:	 	 
		
	By:	 	 
	 Name:
 Title:
	 	 




 EXHIBIT F 
  

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE 
  

The assessment of compliance to be delivered by the Indenture Trustee shall address, at a minimum, the criteria identified as below as “Applicable
Servicing Criteria”: 
  

					
	 	 
	 Servicing
Criteria
	  	 Applicable
Servicing Criteria

	 		 
	 Reference
	 	 Criteria
	  	 
	 		 
	 	 	 General Servicing Considerations
	  	 
	 		 
	 1122(d)(1)(i)
	 	 Policies and procedures are instituted to monitor any performance or other triggers and events of default in
accordance with the transaction agreements.
	  	 
	 		 
	 1122(d)(1)(ii)
	 	 If any material servicing activities are outsourced to third parties, policies and procedures are instituted
to monitor the third party’s performance and compliance with such servicing activities.
	  	 
	 		 
	 1122(d)(1)(iii)
	 	 Any requirements in the transaction agreements to maintain a back-up servicer for the credit card accounts or
accounts are maintained.
	  	 
	 		 
	 1122(d)(1)(iv)
	 	 A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing
function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.
	  	 
	 		 
	 	 	 Cash Collection and Administration
	  	 
	 		 
	 1122(d)(2)(i)
	 	 Payments on credit card accounts are deposited into the appropriate custodial bank accounts and related bank
clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.
	  	


 ü

	 		 
	 1122(d)(2)(ii)
	 	 Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized
personnel.
	  	
 ü

	 		 
	 1122(d)(2)(iii)
	 	 Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other
fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.
	  	 
	 		 
	 1122(d)(2)(iv)
	 	 The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of
overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.
	  	 
	 		 
	 1122(d)(2)(v)
	 	 Each custodial account is maintained at a federally insured depository institution as set forth in the
transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the
Securities Exchange Act.
	  	 
	 		 
	 1122(d)(2)(vi)
	 	 Unissued checks are safeguarded so as to prevent unauthorized access.
	  	 
	 		 
	 1122(d)(2)(vii)
	 	 Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts,
including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the
transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original
identification, or such other number of days specified in the transaction agreements.
	  	 

  

 2 




					
	 	 
	 Servicing
Criteria
	  	 Applicable
Servicing Criteria

	 		 
	 Reference
	 	 Criteria
	  	 
	 		 
	 1122(d)(3)(i)
	 	 Reports to investors, including those to be filed with the Commission, are maintained in accordance with the
transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with
the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of
credit card accounts serviced by the Servicer.
	  	 
	 		 
	 1122(d)(3)(ii)
	 	 Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and
other terms set forth in the transaction agreements.
	  	
 ü

	 		 
	 1122(d)(3)(iii)
	 	 Disbursements made to an investor are posted within two business days to the Servicer’s investor
records, or such other number of days specified in the transaction agreements.
	  	
 ü

	 		 
	 1122(d)(3)(iv)
	 	 Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment,
or custodial bank statements.
	  	
 ü

	 		 
	 	 	 Pool Asset Administration
	  	 
	 		 
	 1122(d)(4)(i)
	 	 Collateral or security on credit card accounts is maintained as required by the transaction agreements or
related asset pool documents.
	  	
 ü

	 		 
	 1122(d)(4)(ii)
	 	 Account and related documents are safeguarded as required by the transaction agreements
	  	 ü

	 		 
	 1122(d)(4)(iii)
	 	 Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with
any conditions or requirements in the transaction agreements.
	  	 
	 		 
	 1122(d)(4)(iv)
	 	 Payments on credit card accounts, including any payoffs, made in accordance with the related credit card
accounts documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items
(e.g., escrow) in accordance with the related asset pool documents.
	  	 
	 		 
	 1122(d)(4)(v)
	 	 The Servicer’s records regarding the accounts and the accounts agree with the Servicer’s records
with respect to an obligor’s unpaid principal balance.
	  	 
	 		 
	 1122(d)(4)(vi)
	 	 Changes with respect to the terms or status of an obligor’s account (e.g., loan modifications or
re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.
	  	 
	 		 
	 1122(d)(4)(vii)
	 	 Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure,
foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.
	  	 
	 		 
	 1122(d)(4)(viii)
	 	 Records documenting collection efforts are maintained during the period a Account is delinquent in accordance
with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent Accounts including, for
example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).
	  	 
	 		 
	 1122(d)(4)(ix)
	 	 Adjustments to interest rates or rates of return for Accounts with variable rates are computed based on the
related Account documents.
	  	 

  

 3 




					
	 	 
	 Servicing
Criteria
	  	 Applicable
Servicing Criteria

	 		 
	 Reference
	 	 Criteria
	  	 
	 		 
	 1122(d)(4)(x)
	 	 Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in
accordance with the obligor’s Account documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable Account
documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related Accounts, or such other number of days specified in the transaction agreements.
	  	 
	 		 
	 1122(d)(4)(xi)
	 	 Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related
penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in
the transaction agreements.
	  	 
	 		 
	 1122(d)(4)(xii)
	 	 Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from
the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.
	  	 
	 		 
	 1122(d)(4)(xiii)
	 	 Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records
maintained by the servicer, or such other number of days specified in the transaction agreements.
	  	 
	 		 
	 1122(d)(4)(xiv)
	 	 Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the
transaction agreements.
	  	 
	 		 
	 1122(d)(4)(xv)
	 	 Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of
Regulation AB, is maintained as set forth in the transaction agreements.
	  	 

  
  
  

			
	 [NAME OF INDENTURE TRUSTEE]

		
	Date:	 	 
		
	By:	 	 
	 Name:
 Title:
	 	 


  

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