EX-10.2



 Exhibit 10.2 

EXECUTION COPY 
 REASSIGNMENT NO.
16 OF RECEIVABLES IN REMOVED ACCOUNTS 
 REASSIGNMENT NO. 16 OF RECEIVABLES IN REMOVED ACCOUNTS (this “Reassignment”) dated
as of February 14, 2016, by and between CHASE CARD FUNDING LLC, a Delaware limited liability company, as Transferor (the “Transferor”), and the CHASE ISSUANCE TRUST (the “Trust”), pursuant to the Agreement
referred to below, and acknowledged by CHASE BANK USA, NATIONAL ASSOCIATION (the “Bank”) in its capacity as servicer under the Agreement referred to below (in such capacity, the “Servicer”), and WELLS FARGO BANK,
NATIONAL ASSOCIATION, a national banking association, in its capacity as indenture trustee (in such capacity, the “Indenture Trustee”) and collateral agent (in such capacity, the “Collateral Agent”) under the
Agreement referred to below. 
 W I T N E S S E T H: 

WHEREAS, the Bank, as Servicer and Administrator, the Transferor, Wells Fargo Bank, National Association, as Indenture Trustee and Collateral
Agent, and the Trust are parties to the Fourth Amended and Restated Transfer and Servicing Agreement, dated as of January 20, 2016 (hereinafter as such agreement may have been, or may from time to time be, amended, supplemented or otherwise
modified, the “Agreement”); 
 WHEREAS, pursuant to the Agreement, the Transferor wishes to remove from the Trust all
Receivables owned by the Trust in certain designated Accounts identified on Schedule 1 to this Reassignment (the “Removed Accounts”) and to cause the Trust to reconvey the Receivables of such Removed Accounts, whether now existing
or hereafter created, from the Trust to the Transferor; and 
 WHEREAS, the Trust is willing to accept such designation and to reconvey the
Receivables in the Removed Accounts subject to the terms and conditions hereof; 
 NOW, THEREFORE, the Transferor and the Trust, hereby
agree as follows: 
 1. Defined Terms. All terms defined in the Agreement and used herein shall have such defined meanings when used
herein, unless otherwise defined herein. 
 “Removal Cut-Off Date” shall mean, with respect to the Removed Accounts,
December 31, 2015. 
 “Removal Date” shall mean, with respect to the Removed Accounts, February 14, 2016. 

“Removal Notice Date” shall mean, with respect to the Removed Accounts, February 5, 2016. 







 2. Designation of Removed Accounts. Within five Business Days after the Removal Date, or
as otherwise agreed upon by the Transferor and the Owner Trustee, on behalf of the Trust, the Transferor will deliver to, or cause to be delivered to, the Collateral Agent, as designee, on behalf of the Trust, an accurate list, based on the computer
records of, or kept on behalf of, the Transferor (in the form of a computer file, microfiche list, CD-ROM or such other form as is agreed upon between the Transferor and the Owner Trustee) of all Removed Accounts identified by account reference
number and the aggregate amount of Principal Receivables in such Removed Accounts as of the Removal Cut-Off Date, which list shall, as of the Removal Date, modify and amend and be incorporated into and made a part of the Agreement. 

3. Reconveyance of Receivables. The Owner Trustee, on behalf of the Trust, does hereby sell, transfer, assign, set over and otherwise
reconvey to the Transferor, without recourse, on and after the Removal Date, all right, title and interest of the Trust in, to and under the Receivables now existing and hereafter created from time to time in the Removed Accounts identified on
Schedule 1 hereto, all Interchange and Recoveries related thereto, all monies due or to become due (including all Finance Charge Receivables) and all amounts received or receivable with respect thereto and all proceeds (as defined in the UCC as in
effect in the applicable jurisdiction) thereof (the “Removed Collateral”). 
 4. Representations and Warranties of the
Transferor. The Transferor hereby represents and warrants to the Trust as of the Removal Date that: 
 (a) Legal, Valid and Binding
Obligation. This Reassignment constitutes a legal, valid and binding obligation of the Transferor enforceable against the Transferor, in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws now or hereafter in effect affecting the enforcement of creditors’ rights in general and except as such enforceability may be limited by general principles of equity (whether
considered in a suit at law or in equity); 
 (b) Satisfaction of Additional Requirements. All of the requirements for the removal of
Accounts under the Asset Pool One Supplement have been satisfied; and 
 (c) Required Transferor Amount and Minimum Pool Balance. The
removal of any Receivable of any Removed Accounts on any Removal Date shall not, in the reasonable belief of the Transferor, cause, with respect to Asset Pool One in which such Receivables had been designated for inclusion, an Adverse Effect or the
Transferor Amount to be less than the Required Transferor Amount or the Pool Balance to be less than the Minimum Pool Balance for such Monthly Period in which such removal occurs. 

5. Representations and Warranties of the Servicer. No selection procedures believed by the Transferor to be materially adverse to the
interests of the Noteholders were utilized in selecting the Removed Accounts to be removed from the Trust and (I) a random selection procedure was used by the Servicer in selecting the 







 
Removed Accounts and only one such removal of randomly selected Accounts shall occur in the then current Monthly Period, (II) the Removed Accounts arose pursuant to an affinity, private-label,
agent-bank, co-branding or other arrangement with a third party that has been cancelled by such third party or has expired without renewal and which by its terms permits the third party to repurchase the Removed Accounts subject to such arrangement,
upon such cancellation or non-renewal and the third party has exercised such repurchase right or (III) the Removed Accounts were selected using another method that will not preclude transfers from satisfying the conditions for sale accounting
treatment under generally accepted accounting principles in effect for reporting periods before November 15, 2009. 
 6. Conditions
Precedent. The reassignment hereunder of the Receivables in the Removed Accounts and the amendment of the Agreement pursuant to Section 8 of this Reassignment are each subject to: 

(a) the satisfaction, on or prior to the Removal Date, of the conditions set forth in subsection 2.13(b) of the Agreement; and 

(b) the delivery, on or prior to the Removal Date, to the Owner Trustee by the Transferor and the Servicer of an Officer’s Certificate
substantially in the form of Schedule 2-A or 2-B to this Reassignment, as applicable. The Owner 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. 
 7. Representations and Warranties of the Trust. Since the date of the transfer by the
Transferor under the Agreement, the Owner Trustee, on behalf of the Trust, has not sold, transferred or encumbered any Receivable in any Removed Account or any interest therein. 

8. Amendment of the Transfer and Servicing Agreement. The Agreement is hereby amended to provide that all references therein to the
“Transfer and Servicing Agreement,” to “this Agreement” and to “herein” shall be deemed from and after the Removal Date to be a dual reference to the Agreement as supplemented by this Reassignment. All references
therein to the Accounts shall be deemed not to include the Removed Accounts designated hereunder and all references to Receivables shall be deemed not to include the Receivables reconveyed hereunder. Except as expressly amended hereby, all of the
representations, warranties, terms, covenants and conditions of the 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 provision of the Agreement. 

9. Release. 
 (a) The
Owner Trustee, on behalf of the Trust, hereby expressly terminates, relinquishes, releases, discharges and renders ineffective any and all security interests, liens, mortgages and encumbrances, as against the Transferor, any transferee of








 
the Transferor and any person claiming title to or an interest in the Removed Collateral through any such person, or any successor or assign of any of the foregoing (all such persons and entities
being referred to individually as a “Transferee” and collectively as the “Transferees”), and any and all right, title, benefit, interest or claim whatsoever, present or future, actual or contingent (collectively,
“Rights”), owned or held by the Trust to, against or in respect of the Removed Collateral. 
 (b) In case any provision of
this Reassignment shall be rendered invalid, illegal or unenforceable in any jurisdiction, the Owner Trustee, on behalf of the Trust, hereby acknowledges that the interest of the Trust in the Removed Collateral is subordinate and junior to the
security interest of any Transferee and hereby expressly agrees that any security interest it may have in any Removed Collateral is and shall remain subordinate and junior to all security interests granted by a Transferee, regardless of the time of
the recording, perfection or filing thereof or with respect thereto. 
 (c) The Owner Trustee, on behalf of the Trust, acknowledges and
agrees that the Transferees and their representatives are expressly entitled to rely on the provisions of this Section 9, it being the intent of the Owner Trustee, on behalf of the Trust, that the Transferees will acquire title to the Removed
Collateral purchased by them free of any Rights owned or held by the Trust to, against or in respect of the Removed Collateral. 
 10.
Counterparts. This Reassignment 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 shall constitute one and the same instrument. 

11. GOVERNING LAW. THIS REASSIGNMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, 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. 

12. Limitation of Liability. It is expressly understood and agreed by the parties hereto that (a) this Reassignment is executed
and delivered by Wilmington Trust Company (“WTC”), not individually or personally but solely as Owner Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it, (b) each of the
representations, undertakings and agreements herein made on the part of the Trust is made and intended not as personal representations, undertakings and agreements by WTC but is made and intended for the purpose of binding only the Trust,
(c) nothing herein contained shall be construed as creating any liability on WTC, individually or personally, to perform any covenant either expressed or implied contained herein of the Trust, all such liability, if any, being expressly waived
by the parties hereto and by any Person claiming by, through or under the parties hereto, (d) WTC has not verified and made no investigation as to the accuracy or completeness of any representations and warranties made by the Trust in this
Reassignment and (e) under no circumstances shall WTC be personally liable for the payment of any indebtedness or expenses of the Trust 







 
or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Reassignment or any other related documents. 

13. Authorization. The Owner Trustee, on behalf of the Trust, hereby authorizes the Transferor, or any agent designated by the
Transferor, to file any financing statements or continuation statements, and amendments to financing statements, in any jurisdictions and with any filing offices as the Transferor may determine, in its sole discretion, are necessary or advisable to
perfect the conveyance to the Transferor pursuant to Section 3 hereof. Such financing statements may describe the collateral in the same manner as described herein or may contain an indication or description of collateral that describes such
property in any other manner as the Transferor may determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in the collateral granted to the Transferor in connection herewith, including,
without limitation, describing such property as “all assets” or “all personal property.” 







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

			
	CHASE CARD FUNDING LLC, as Transferor
		
	By:	 	 /s/ Eve Ngan

	Name:	 	Eve Ngan
	Title:	 	Deputy Chief Executive Officer
	
	 CHASE ISSUANCE TRUST,
 as Issuing
Entity

		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Erwin M. Soriano

	Name:	 	Erwin M. Soriano
	Title:	 	Vice President


 Chase Issuance Trust Reassignment No. 16 – TSA 

Reassignment No. 16 of Receivables in Removed Accounts 








			
	Acknowledged by:
	
	 WELLS FARGO BANK,
 NATIONAL
ASSOCIATION,
 as Indenture Trustee and Collateral Agent

		
	By:	 	 /s/ Cheryl Zimmerman

	Name:	 	Cheryl Zimmerman
	Title:	 	Vice President
	
	 CHASE BANK USA,
 NATIONAL
ASSOCIATION,
 as Servicer

		
	By:	 	 /s/ Todd Lehner

	Name:	 	Todd Lehner
	Title:	 	Managing Director

 Chase Issuance Trust Reassignment No. 16 – TSA 

Reassignment No. 16 of Receivables in Removed Accounts 







 Schedule 1 

to Reassignment No. 16 
 of
Receivables 
 REMOVED ACCOUNTS 

[Delivered to the Owner Trustee]