<PAGE>

                  ASSIGNMENT No. 16 OF RECEIVABLES IN ADDITIONAL AC COUNTS,
dated as of July 1, 2001, by and between CHASE MANHATTAN BANK USA, NATIONAL
ASSOCIATION, a national banking corporation organized and existing under the
laws of the United States of America ("Chase USA"), and THE BANK OF NEW YORK, a
banking corporation organized and existing under the laws of the State of New
York (the "Trustee") pursuant to the Pooling and Servicing Agreement referred to
below.

                              W I T N E S S E T H:

                  WHEREAS, Chase USA, as Transferor on and after June 1, 1996,
The Chase Manhattan Bank, as Transferor prior to June 1, 1996 and as Servicer,
and the Trustee are parties to the Third Amended and Restated Pooling and
Servicing Agreement, dated as of November 15, 1999, as amended by the First
Amendment thereto dated as of March 31, 2001 (hereinafter as such agreement may
have been, or may from time to time be, amended, supplemented or otherwise
modified, the "Pooling and Servicing Agreement");

                  WHEREAS, pursuant to the Pooling and Servicing Agreement,
Chase USA wishes to designate Additional Accounts of Chase USA to be included as
Accounts and to convey the Receivables of such Additional Accounts, whether now
existing or hereafter created, to the Trust as part of the corpus of the Trust
(as each such term is defined in the Pooling and Servicing Agreement); and

                  WHEREAS, the Trustee is willing to accept such designation and
conveyance subject to the terms and conditions hereof;

                  NOW, THEREFORE, Chase USA and the Trustee hereby agree as
follows:

                           1.  Defined Terms.  All terms defined in the
         Pooling and Servicing Agreement and used herein shall have such
         defined meanings when used herein, unless otherwise defined herein.

                           "Addition Date" shall mean, with respect to the
         Additional Accounts designated hereby, July 1, 2001.


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                           "Notice Date" shall mean, with respect to the
         Additional Accounts designated hereby, June 7, 2001.

                           2. Designation of Additional Accounts. Chase USA
         shall deliver to the Trustee not later than five Business Days after
         the Addition Date, a computer file or microfiche list containing a true
         and complete list of each MasterCard and VISA account which as of the
         Addition Date shall be deemed to be an Additional Account, such
         accounts being identified by ac count number and by the amount of
         Receivables in such accounts as of the close of business on the
         Addition Date. Such list shall be delivered five Busi ness Days after
         the date of this Agreement and shall be marked as Schedule 1 to this
         Assignment and, as of the Addition Date, shall be incorporated into and
         made a part of this Assignment.

                           3.       Conveyance of Receivables.
                                    -------------------------

                           A. Chase USA does hereby transfer, assign, set-over
         and otherwise convey to the Trust for the benefit of the
         Certificateholders, without recourse on and after the Addition Date,
         all right, title and interest of Chase USA in and to the Receivables
         now existing and hereafter created in the Additional Accounts
         designated hereby, all monies due or to become due with respect thereto
         (including all Finance Charge Receivables) and all pro ceeds of such
         Receivables, Recoveries, Interchange, Insurance Proceeds relating to
         such Receivables and the proceeds of any of the foregoing.

                           B. In connection with such transfer, Chase USA agrees
         to record and file, at its own expense, a financing statement with
         respect to the Receivables now existing and hereafter created in the
         Additional Accounts designated hereby (which may be a single financing
         statement with respect to all such Receivables) for the transfer of
         accounts as defined in Section 9-102 of the UCC as in effect in the
         State of New York meeting the requirements of applicable state law in
         such manner and such jurisdictions as are necessary to perfect the
         assignment of such Receivables to the Trust, and to deliver a file-
         stamped copy of such financing statement or other evidence of such
         filing (which may, for purposes of this Section 3, consist of telephone
         confirmation of such filing) to the Trustee on or prior to the date of
         this Agreement.

                           C.  In connection with such transfer, Chase USA
         further agrees, at its own expense, on or prior to the date of this
         Assignment to indi cate in its computer files that Receivables created
         in connection with the

                                                  2

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         Additional Accounts designated hereby have been transferred to the
         Trust pursuant to this Assignment for the benefit of the
         Certificateholders.

                           D. Chase USA hereby grants to the Trustee a security
         interest in all of Chase USA's right, title and interest in, to and
         under the Receivables now existing and hereafter created in the
         Additional Accounts designated hereby, all monies due or to become due
         with respect to such Receivables, Insurance Proceeds relating to such
         Receivables, Recoveries, Interchange and the proceeds to any of the
         foregoing to secure a loan in an amount equal to the unpaid principal
         amount of the Investor Certificates issued or to be issued pursuant to
         the Pooling and Servicing Agreement and the interests accrued at the
         related Certificate Rates, and this Agreement shall constitute a
         security agreement under applicable law. Chase USA shall execute
         continuation statements and provide other further assurances to
         maintain the perfection and priority of such security interest of the
         Trust.

                           4. Acceptance by Trustee. The Trustee hereby
         acknowledges its acceptance on behalf of the Trust for the benefit of
         the Certificateholders of all right, title and interest previously held
         by Chase USA in and to the Re ceivables now existing and hereafter
         created, and declares that it shall main tain such right, title and
         interest, upon the Trust herein set forth, for the benefit of all
         Certificateholders.

                           5.  Representations and Warranties of Chase USA.
         Chase USA hereby represents and warrants to the Trust as of the
         Addition Date:

                           A. Legal, Valid and Binding Obligation. This
                  Assignment constitutes a legal, valid and binding obligation
                  of Chase USA en forceable against Chase USA in accordance with
                  its terms, except as such enforceability may be limited by
                  applicable bankruptcy, insol vency, reorganization, moratorium
                  or other similar laws now or here after in effect affecting
                  the enforcement of creditors' rights in general and the rights
                  of creditors of banking associations and except as such
                  enforceability may be limited by general principles of equity
                  (whether considered in a suit at law or in equity).

                           B.  Eligibility of Accounts and Receivables.  Each
                  Additional Account designated hereby is an Eligible Account
                  and each Receiv able in such Additional Account is an Eligible
                  Receivable.


                                                  3

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                           C.  Selection Procedures.  No selection procedures
                  believed by Chase USA to be materially adverse to the
                  interests of the Investor Certificateholders were utilized in
                  selecting the Additional Accounts designated hereby from the
                  available Eligible Accounts in the Bank Portfolio.

                           D.  Insolvency.  Chase USA is not insolvent and,
                  after giving effect to the conveyance set forth in Section 3
                  of this Assignment, will not be insolvent.

                           E. Security Interest. This Assignment constitutes
                  either: (i) a valid transfer and assignment to the Trust of
                  all right, title and interest of Chase USA in and to
                  Receivables now existing and hereafter creat ed in the
                  Additional Accounts designated hereby, and all proceeds (as
                  defined in the UCC) of such Receivables and Insurance Proceeds
                  relating thereto, and such Receivables and any proceeds
                  thereof and Insurance Proceeds relating thereto will be held
                  by the Trust free and clear of any Lien of any Person claiming
                  through or under Chase USA or any of its Affiliates except for
                  (x) Liens permitted under subsection 2.5(b) of the Pooling and
                  Servicing Agreement, (y) the interest of the holder of the
                  Transferor Certificate and (z) Chase USA's right to receive
                  interest accruing on, and investment earnings in respect of,
                  the Finance Charge Account and the Principal Account as
                  provided in the Pooling and Servicing Agreement; or (ii) a
                  valid and continuing security interest (as defined in the UCC)
                  in the Additional Accounts in favor of the Trust, the proceeds
                  (as defined in the UCC) thereof and Insurance Proceeds
                  relating thereto, upon the conveyance of such Re ceivables to
                  the Trust, which security interest is prior to all other
                  Liens, and is enforceable against creditors of and purchasers
                  from Chase USA, and which will be enforceable with respect to
                  the Receiv ables thereafter created in respect of Additional
                  Accounts designated hereby, the proceeds (as defined in the
                  UCC) thereof and Insurance Proceeds relating thereto, upon
                  such creation; and (iii) if this Assign ment constitutes the
                  grant of a security interest to the Trust in such property,
                  upon the filing of a financing statement described in Section
                  3 of this Assignment with respect to the Additional Accounts
                  desig nated hereby and in the case of the Receivables of such
                  Additional Accounts thereafter created and the proceeds (as
                  defined in the UCC) thereof, and Insurance Proceeds relating
                  to such Receivables, upon such creation, the Trust shall have
                  a first priority perfected security

                                                  4

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                  interest in such property (subject to Section 9-306 of the UCC
                  as in effect in the State of Delaware), except for Liens
                  permitted under subsection 2.5(b) of the Pooling and Servicing
                  Agreement. Chase USA has caused or will have caused, within
                  ten days, the filing of all appropriate financing statements
                  in the proper filing office in the appropriate jurisdictions
                  under applicable law in order to perfect the security interest
                  in the Receivables granted to the Trust hereunder. The
                  Receivables constitute "accounts" within the meaning of the
                  applicable UCC.

                           F. Other Liens. Other than the security interest
                  granted to the Trust pursuant to this Agreement, Chase USA has
                  not pledged, as signed, sold, granted a security interest in,
                  or otherwise conveyed any of the Receivables. Chase USA has
                  not authorized the filing of and is not aware of any financing
                  statements against Chase USA that include a description of
                  collateral covering the Receivables other than any financing
                  statement (i) relating to the security interest granted to the
                  Trust hereunder, (ii) that has been terminated, or (iii) that
                  names The Bank of New York as secured party. Chase USA is not
                  aware of any judgment or tax lien filings against Chase USA.
                  Chase USA owns and has good and marketable title to the
                  Receivables free and clear of any Lien, claim or encumbrance
                  of any Person.

                           G.  Breach of Representations and Warranties.  The
                  provision set forth in Section 2.4(d) of the Pooling and
                  Servicing Agreement shall be applicable to any breach of the
                  representations and warranties of this Section 5 with respect
                  to any Receivable.

                           6.       Conditions Precedent.  The acceptance by
                  the Trustee set forth in Section 4 and the amendment of the
                  Pooling and Servicing Agree ment set forth in Section 7 are
                  subject to the satisfaction, on or prior to the Addition Date,
                  of the following conditions precedent:

                                    A. Officer's Certificate. Chase USA shall
                  have deliv ered to the Trustee a certificate of a Vice
                  President or more senior officer substantially in the form of
                  Schedule 2 hereto, certifying that (i) all requirements set
                  forth in Section 2.6 of the Pooling and Servic ing Agreement
                  for designating Additional Accounts and conveying the
                  Principal Receivables of such Account, whether now existing or
                  hereafter created, have been satisfied and (ii) each of the


                                       5
<PAGE>

                  representa tions and warranties made by Chase USA in Section 5
                  is true and correct as of the Addition Date. The Trustee may
                  conclusively rely on such Officer's Certificate, shall have no
                  duty to make inquiries with regard to the matters set forth
                  therein, and shall incur no liability in so relying.

                                    B.  Opinion of Counsel.  Chase USA shall
                  have deliv ered to the Trustee an Opinion of Counsel with
                  respect to the Addi tional Accounts designated hereby
                  substantially in the form of Exhibit E to the Pooling and
                  Servicing Agreement.

                                    C.       Additional Information.  Chase
                  USA shall have delivered to the Trustee such information as
                  was reasonably re quested by the Trustee to satisfy itself as
                  to the accuracy of the repre sentation and warranty set forth
                  in subsection 5(d) to this Agreement.

                           7. Amendment of the Pooling and Servicing Agreement.
         The Pooling and Servicing Agreement is hereby amended to provide that
         all references therein to the "Pooling and Servicing Agreement," to
         "this Agree ment" and "herein" shall be deemed from and after the
         Addition Date to be a dual reference to the Pooling and Servicing
         Agreement as supplemented by this Assignment and by Assignment No. 1 of
         Receivables in Additional Accounts, dated as of July 1, 1996,
         Assignment No. 2 of Receivables in Additional Accounts, dated as of
         September 1, 1996, Assignment No.3 of Receivables in Additional
         Accounts, dated as of December 1, 1997, Assign ment No. 4 of
         Receivables in Additional Accounts, dated as of February 1, 1998,
         Assignment No. 5 of Receivables in Additional Accounts, dated as of
         April 1, 1998, Assignment No. 6 of Receivables in Additional Accounts,
         dated as of August 1, 1998, Assignment No. 7 of Receivables in
         Additional Accounts, dated as of November 1, 1998, Assignment No. 8 of
         Receivables in Additional Accounts, dated as of February 1, 1999,
         Assignment No. 9 of Receivables in Additional Accounts, dated as of
         April 1, 1999, Assignment No. 10 of Receivables in Additional Accounts,
         dated as of July 1, 1999, Assignment No. 11 of Receivables in
         Additional Accounts, dated as of October 1, 1999, Assignment No. 12 of
         Receivables in Additional Accounts, dated as of February 1, 2000,
         Assignment No. 13 of Receivables in Addi tional Accounts, dated as of
         April 1, 2000, Assignment No. 14 of Receivables in Additional Accounts,
         dated as of May 1, 2000, Assignment No. 15 of Receivables in Additional
         Accounts, dated as of August 1, 2000, Reassign ment No. 1 of
         Receivables in Removed Accounts, dated as of September 30,

                                        6

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         1997 and Reassignment No. 2 of Receivables in Removed Accounts, dated
         as of December 1, 1997. Except as expressly amended hereby, all of the
         representations, warranties, terms, covenants and conditions to the
         Pooling and Servicing Agreement shall remain unamended and shall
         continue to be, and shall remain, in full force and effect in
         accordance with its terms and except as expressly provided herein shall
         not constitute or be deemed to constitute a waiver of compliance with
         or a consent to noncompliance with any term or provisions of the
         Pooling and Servicing Agreement.

                           8. Survival. The representations, warranties and cove
         nants of the parties hereto shall survive the assignment of the
         Receivables pursuant to this Agreement and the termination of this
         Agreement, and shall inure to the benefit of the Trust. Notwithstanding
         to the contrary in this Agreement, the representations and warranties
         of the Chase USA herein shall not survive after the tenth (10th)
         anniversary of the Addition Date.

                           9. Waivers and Amendments. This Agreement may be
         amended, superseded, canceled, renewed or extended and the terms hereof
         may be waived, only by a written instrument signed by authorized
         representa tives of the parties or, in the case of a waiver, by an
         authorized representative of the party waiving compliance and, in all
         cases, subject to confirmation by each Rating Agency then rating any
         Investor Certificates. No such written instrument shall be effective
         unless it expressly recites that it is intended to amend, supersede,
         cancel, renew or extend this Agreement or to waive compliance with one
         or more of the terms hereof, as the case may be. No delay on the part
         of any party in exercising any right, power or privilege hereunder
         shall operate as a waiver thereof, nor shall any waiver on the part of
         any party of any such right, power or privilege, or any single or
         partial exercise of any such right, power or privilege, preclude any
         further exercise thereof or the exercise of any other such right, power
         or privilege.

                           10.      Counterparts.  This Assignment may be
                  executed in two or more counterparts (and by different parties
                  on separate counterparts), each of which shall be an original,
                  but all of which together shall constitute one and the same
                  instrument.


                                        7

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                           11. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED
         IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE
         TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND
         REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
         WITH SUCH LAWS.


                                        8

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                  IN WITNESS WHEREOF, the undersigned have caused this Assign
ment of Receivables in Additional Accounts to be duly executed and delivered by
their respective duly authorized officers on the day and year first above
written.

                                    CHASE MANHATTAN BANK USA,
                                    NATIONAL ASSOCIATION


                                    By: /s/ Patricia Garvey
                                       ----------------------------------
                                       Name:  Patricia Garvey
                                       Title: Vice President


                                    THE BANK OF NEW YORK,
                                      as Trustee


                                    By: /s/ Erwin Soriano
                                       ----------------------------------
                                       Name:  Erwin Soriano
                                       Title: Assistant Treasurer



                                       9

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                                                       Schedule 1
                                                       to Assignment of
                                                       Receivables in
                                                       Additional Accounts


                                         ADDITIONAL ACCOUNTS