Document:

Exhibit 4.5

 EXHIBIT 4.5 
  

 
  

CAPITAL ONE MULTI-ASSET EXECUTION TRUST 

as Issuer 
 and 

THE BANK OF NEW YORK MELLON 

as Indenture Trustee 
 CARD
SERIES INDENTURE SUPPLEMENT 
 Dated as of October 9, 2002 

As amended and restated as of March 17, 2016 

to 
 ASSET POOL 1 SUPPLEMENT

 dated as of October 9, 2002 

to 
 INDENTURE 

Dated as of October 9, 2002, 

As amended and restated as of January 13, 2006 and March 17, 2016 

 
  

 

 TABLE OF CONTENTS 

 

							
			
	 ARTICLE I
	  	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  	 	1	  
			
	 Section 1.01.
	  	 Definitions
	  	 	1	  
	 Section 1.02.
	  	 Governing Law
	  	 	23	  
	 Section 1.03.
	  	 Counterparts
	  	 	23	  
	 Section 1.04.
	  	 Ratification of Indenture and Asset Pool 1 Supplement
	  	 	23	  
			
	 ARTICLE II
	  	 THE NOTES
	  	 	24	  
			
	 Section 2.01.
	  	 Creation and Designation
	  	 	24	  
	 Section 2.02.
	  	 New Issuances of Notes
	  	 	24	  
			
	 ARTICLE III
	  	 ALLOCATIONS, DEPOSITS AND PAYMENTS
	  	 	26	  
			
	 Section 3.01.
	  	 Allocations of Card Series Finance Charge Amounts
	  	 	26	  
	 Section 3.02.
	  	 Targeted Deposits of Card Series Finance Charge Amounts to the Interest Funding Account
	  	 	27	  
	 Section 3.03.
	  	 Allocations of Card Series Finance Charge Amounts to Interest Funding sub-Accounts
	  	 	28	  
	 Section 3.04.
	  	 Amounts to be Treated as Card Series Finance Charge Amounts; Payments Received from Derivative Counterparties for Interest in
Foreign Currencies; Other Deposits to the Interest Funding sub-Accounts
	  	 	28	  
	 Section 3.05.
	  	 Allocations of Reductions to the Nominal Liquidation Amount Due to Investor
Charge-Offs
	  	 	30	  
	 Section 3.06.
	  	 Allocations of Reimbursements of Nominal Liquidation Amount Deficits
	  	 	33	  
	 Section 3.07.
	  	 Application of Card Series Principal Amounts
	  	 	34	  
	 Section 3.08.
	  	 Allocation of Reductions of Nominal Liquidation Amount of Subordinated Notes from Reallocations of Card Series Principal Amounts to
Cover Interest Funding Account Shortfalls or Servicing Fee Shortfalls
	  	 	37	  
	 Section 3.09.
	  	 Allocation of Servicing Fee Shortfalls
	  	 	41	  
	 Section 3.10.
	  	 Targeted Deposits of Card Series Principal Amounts to the Principal Funding Account
	  	 	41	  
	 Section 3.11.
	  	 Allocations among Principal Funding sub-Accounts
	  	 	43	  
	 Section 3.12.
	  	 Amounts to be Treated as Card Series Principal Amounts; Payments Received from Derivative Counterparties for Principal; Other
Deposits to Principal Funding sub-Accounts
	  	 	44	  
	 Section 3.13.
	  	 Withdrawals from Interest Funding Account
	  	 	45	  
	 Section 3.14.
	  	 Withdrawals from Principal Funding Account
	  	 	46	  
	 Section 3.15.
	  	 Limit on Deposits to the Principal Funding sub-Account of Subordinated Note; Limit on
Repayments of all Tranches
	  	 	48	  
	 Section 3.16.
	  	 Calculation of Nominal Liquidation Amount
	  	 	50	  
	 Section 3.17.
	  	 Reinvestment in the COMT Collateral Certificate
	  	 	51	  

  
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	 Section 3.18.
	  	 Netting of Deposits and Payments
	  	 	51	  
	 Section 3.19.
	  	 Pro rata Payments within a Tranche
	  	 	51	  
	 Section 3.20.
	  	 Sale of Collateral for Accelerated Notes
	  	 	51	  
	 Section 3.21.
	  	 Calculation of Prefunding Target Amount
	  	 	52	  
	 Section 3.22.
	  	 Targeted Deposits to the Class C Reserve Account
	  	 	55	  
	 Section 3.23.
	  	 Withdrawals from the Class C Reserve Account
	  	 	56	  
	 Section 3.24.
	  	 Targeted Deposits to the Accumulation Reserve Account
	  	 	57	  
	 Section 3.25.
	  	 Withdrawals from the Accumulation Reserve Account
	  	 	58	  
	 Section 3.26.
	  	 Computation of Interest
	  	 	58	  
	 Section 3.27.
	  	 Excess Finance Charge Amounts Sharing
	  	 	58	  
	 Section 3.28.
	  	 Excess Available Principal Amount Sharing
	  	 	59	  
	 Section 3.29.
	  	 Targeted Deposits to the Class D Reserve Account
	  	 	60	  
	 Section 3.30.
	  	 Withdrawals from the Class D Reserve Account
	  	 	61	  
			
	 ARTICLE IV
	  	 EARLY REDEMPTION OF NOTEs
	  	 	62	  
			
	 Section 4.01.
	  	 Early Redemption Events
	  	 	62	  
			
	 ARTICLE V
	  	 ISSUER ACCOUNTS AND INVESTMENTS
	  	 	63	  
			
	 Section 5.01.
	  	 Issuer Accounts
	  	 	63	  

  
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 EXHIBITS 
  

			
	 EXHIBIT A-1
	  	 [FORM OF] CLASS A NOTE

		
	 EXHIBIT A-2
	  	 [FORM OF] CLASS B NOTE

		
	 EXHIBIT A-3
	  	 [FORM OF] CLASS C NOTE

		
	 EXHIBIT A-4
	  	 [FORM OF] CLASS D NOTE

		
	 EXHIBIT B
	  	 [FORM OF] CARD SERIES SCHEDULE TO PAYMENT INSTRUCTIONS

		
	 EXHIBIT C
	  	 [FORM OF] CARD SERIES SCHEDULE TO MONTHLY NOTEHOLDERS’ STATEMENT

		
	 EXHIBIT D
	  	 THRESHOLD CONDITIONS

  
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 This CARD SERIES INDENTURE SUPPLEMENT (this “Indenture Supplement”), by and
between CAPITAL ONE MULTI-ASSET EXECUTION TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at E.A. Delle Donne Corporate
Center, Montgomery Building, 1011 Centre Road, Wilmington, Delaware 19805, and THE BANK OF NEW YORK MELLON, a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of
October 9, 2002, as amended and restated as of March 17, 2016. 
 Pursuant to this Indenture Supplement, the Issuer shall create a
new Series of Asset Pool 1 Notes and shall specify the principal terms thereof. 
 ARTICLE I 

Definitions and Other Provisions of General Application 

Section 1.01. Definitions. For all purposes of this Indenture Supplement, except as otherwise expressly provided or unless the
context otherwise requires: 
  

	 	(1)	the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 

 

	 	(2)	all other terms used herein which are defined in the Indenture or the Asset Pool 1 Supplement, either directly or by reference therein, have the meanings assigned to them therein; 

 

	 	(3)	all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term
“generally accepted accounting principles” with respect to any computation required or permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date of such computation;

  

	 	(4)	all references in this Indenture to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this Indenture Supplement. The
words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture Supplement as a whole and not to any particular Article, Section or other subdivision; 

 

	 	(5)	in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Indenture, the Asset Pool 1 Supplement or the Transfer and Administration
Agreement, the terms and provisions of this Indenture Supplement shall be controlling; 

	 	(6)	each capitalized term defined herein shall relate only to the Card Series Notes and no other Series of Notes issued by the Issuer; and 

 

	 	(7)	“including” and words of similar import will be deemed to be followed by “without limitation.” 

“Accumulation Commencement Date” means, for each Tranche of Notes, the first Business Day of the month that is twelve
(12) whole calendar months prior to the Expected Principal Payment Date for such Tranche of Notes; provided, however, that, if the Accumulation Period Length for such Tranche of Notes is less than twelve (12) months, the
Accumulation Commencement Date will be the first Business Day of the month that is the number of whole months prior to such Expected Principal Payment Date at least equal to the Accumulation Period Length such that the number of Monthly Periods
during the period from the Accumulation Commencement Date to such Expected Principal Payment Date will at least equal the Accumulation Period Length. 

“Accumulation Period” means, for any Tranche of Card Series Notes, each Monthly Period with respect to which a deposit is
required to be made into the Principal Funding sub-Account for such Tranche of Notes pursuant to Section 3.07(g) and Section 3.10. 

“Accumulation Period Amount” shall mean, for any Tranche of Notes for each Monthly Period, an amount equal to (x) for
any Tranche of Notes not in an Accumulation Period, zero and (y) otherwise, the product of (i) Available Expected Principal for such Monthly Period and (ii) a fraction, the numerator of which is the Principal Allocation Amount for
such Tranche of Notes and the denominator of which is the sum of (a) the Principal Allocation Amount for all Outstanding Tranches of Notes and (b) the Invested Amounts of all Variable Accumulation Series (as defined in the Series 2002-CC Supplement) of Investor Certificates issued by the Master Trust which are not scheduled to be in their revolving periods as of such Monthly Period; provided that, for purposes of this definition, the
commencement date of the accumulation period of each such Variable Accumulation Series shall be deemed to have been postponed to the latest permissible date, determined as if the provisions of Section 3.10(b)(ii) applied to each such
Series of Investor Certificates with such changes as may be specified with respect to such Series of Investor Certificates (applying such provisions first to the Variable Accumulation Series with the latest expected final payment date and next to
each Series of Investor Certificates with the next preceding expected final payment date). 
 “Accumulation Period Length”
is defined in Section 3.10(b)(ii). 
 “Accumulation Reserve Account” means the trust account designated as such
and established pursuant to Section 5.01(a). 
 “Accumulation Reserve
Sub-Account Earnings” means, for each Distribution Date, the investment earnings on funds in the Accumulation Reserve Account (net of investment expenses and losses) for the period from and including
the immediately preceding Distribution Date to but excluding such Distribution Date. 

  
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 “Aggregate Series Finance Charge Amounts Shortfall” means the sum of the Series
Finance Charge Amounts Shortfalls (as such term is defined in each of the related Indenture Supplements) for each Excess Finance Charge Amounts Sharing Series in Excess Finance Charge Amounts Sharing Group A. 

“Aggregate Series Principal Amounts Shortfall” means the sum of the Series Principal Amounts Shortfalls (as such term is
defined in each of the related Indenture Supplements) for each Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A. 

“Asset Pool 1 Supplement” means the Asset Pool 1 Supplement dated as of October 9, 2002, by and between the
Issuer and the Indenture Trustee, as the same may be amended, supplemented or otherwise modified from time to time. 
 “Asset Sales
Proceeds” means, for any Tranche of Notes, the proceeds of the sale of Collateral with respect to such Tranche pursuant to Section 3.20. Asset Sales Proceeds do not constitute Card Series Principal Amounts. 

“Asset Sales Proceeds Deposit Amount” means, for any Tranche of Notes in respect of which the Trust has received Asset Sales
Proceeds, the amount of Asset Sales Proceeds on deposit in the Principal Funding sub-Account for such Tranche. 

“Available Expected Principal” for any date of determination during each Monthly Period shall be equal to the excess of
(a) the Expected Monthly Principal for such Monthly Period over (b) the sum, without duplication, of all scheduled amortizations or accumulations of principal for such Monthly Period, including past due shortfalls as of such date of
determination, for all Nonvariable Accumulation Series (as defined in the Series 2002-CC Supplement) of Investor Certificates issued by the Master Trust which are not scheduled to be in their revolving periods
as of such Monthly Period. 
 “Beneficial Interest” has the meaning specified in the Trust Agreement. 

“Card Series Defaulted Amount” means, with respect to any Monthly Period, the portion of the Asset Pool 1 Defaulted
Amount allocated to the Card Series pursuant to Section 3.2(b) of the Asset Pool 1 Supplement. 
 “Card Series
Finance Charge Amounts” means, for any Distribution Date, the sum of (a) Asset Pool 1 Finance Charge Amounts allocated to the Card Series pursuant to Section 3.2(a) of the Asset Pool 1 Supplement, (b) any
amounts to be treated as Card Series Finance Charge Amounts pursuant to Sections 3.04(a) and 3.20(d) and (c) any amounts to be treated as Card Series Finance Charge Amounts pursuant to any Terms Document. 

  
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 “Card Series Notes” means the Series of Asset Pool 1 Notes created pursuant
to Section 2.01(a). 
 “Card Series Principal Amounts” means, for any Monthly Period, the sum of (a) Asset
Pool 1 Principal Amounts allocated to the Card Series pursuant to Section 3.3 of the Asset Pool 1 Supplement and (b) any amounts to be treated as Card Series Principal Amounts pursuant to Section 3.12(a). 

“Card Series Servicing Fee” means, with respect to any Monthly Period, the amount of the Asset Pool 1 Servicing Fee
allocated to the Card Series pursuant to Section 3.4(b) of the Asset Pool 1 Supplement. 
 “Card Series Servicing
Fee Percentage” means, for any Monthly Period, an amount equal to the Net Servicing Fee Rate (as defined in the Series 2002-CC Supplement); provided, however, that if any Collateral Certificate (other
than the COMT Collateral Certificate) is included in Asset Pool 1, the Card Series Servicing Fee Percentage will be the rate specified by the Administrator. 

“Class A Available Subordinated Amount of Class B Notes” means, for any Tranche of Class A Notes, with respect
to any Distribution Date, an amount equal to the Required Subordinated Amount of Class B Notes minus the Class A Usage Amount of Class B Notes, each for such Tranche of Class A Notes as of such Distribution Date. 

“Class A Available Subordinated Amount of Class C Notes” means, for any Tranche of Class A Notes, with respect
to any Distribution Date, an amount equal to the Required Subordinated Amount of Class C Notes minus the Class A Usage Amount of Class C Notes, each for such Tranche of Class A Notes as of such Distribution Date. 

“Class A Available Subordinated Amount of Class D Notes” means, for any Tranche of Class A Notes, with respect
to any Distribution Date, an amount equal to the Required Subordinated Amount of Class D Notes minus the Class A Usage Amount of Class D Notes, each for such Tranche of Class A Notes as of such Distribution Date. 

“Class A Available Subordinated Amount of Subordinated Notes” means, for any Tranche of Class A Notes, with respect
to any Distribution Date, an amount equal to the Required Subordinated Amount of Subordinated Notes minus the Class A Usage Amount of Subordinated Notes, each for such Tranche of Class A Notes as of such Distribution Date. 

“Class A Notes” means a Note specified in the applicable Terms Document as belonging to Class A. 

“Class A Usage Amount of Class B Notes” means, with respect to any Tranche of Class A Notes, on any
Distribution Date, an amount, not to exceed the Required Subordinated Amount of Class B Notes for such Tranche of Class A Notes, equal to the excess, if any, of the Class A Usage Amount of Subordinated Notes over the sum of the
Required Subordinated Amount of Class C Notes and the Required Subordinated Amount of Class D Notes, in each case for such Distribution Date, in each case, for such Tranche of Class A Notes. 

  
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 “Class A Usage Amount of Class C Notes” means, with respect to any
Tranche of Class A Notes for any Distribution Date, an amount, not to exceed the Required Subordinated Amount of Class C Notes for such Tranche of Class A Notes, equal to the excess, if any, of the Class A Usage Amount of
Subordinated Notes over the Required Subordinated Amount of Class D Notes, in each case, for such Tranche of Class A Notes. 

“Class A Usage Amount of Class D Notes” means, with respect to any Tranche of Class A Notes for any
Distribution Date, an amount, not to exceed the Required Subordinated Amount of Class D Notes for such Tranche of Class A Notes, equal to the Class A Usage Amount of Subordinated Notes. 

“Class A Usage Amount of Subordinated Notes” means, with respect to any Tranche of Class A Notes, zero on the date
of issuance of such Tranche and on any Distribution Date thereafter the Class A Usage Amount of Subordinated Notes as of the preceding date of determination for such Tranche, plus the sum of the following amounts (in each case, such
amount shall not exceed the Class A Available Subordinated Amount of Subordinated Notes for such Tranche after giving effect to the previous clauses, if any): 

(a) an amount equal to the product of (i) the aggregate amount allocated to the Class B Notes pursuant to
Section 3.05(a) on such date and (ii) a fraction, the numerator of which is the Class A Available Subordinated Amount of Class B Notes for such Tranche of Class A Notes and the denominator of which is the aggregate
Nominal Liquidation Amount of the Class B Notes as of the close of business on the last day of the preceding Monthly Period; plus 

(b) an amount equal to the product of (i) the aggregate amount allocated to the Class C Notes pursuant to
Section 3.05(a) on such date and (ii) a fraction, the numerator of which is the Class A Available Subordinated Amount of Class C Notes for such Tranche of Class A Notes and the denominator of which is the aggregate
Nominal Liquidation Amount of the Class C Notes as of the close of business on the last day of the preceding Monthly Period; plus 

(c) an amount equal to the product of (i) the aggregate amount allocated to the Class D Notes pursuant to
Section 3.05(a) on such date and (ii) a fraction, the numerator of which is the Class A Available Subordinated Amount of Class D Notes for such Tranche of Class A Notes and the denominator of which is the aggregate
Nominal Liquidation Amount of the Class D Notes as of the close of business on the last day of the preceding Monthly Period; plus 

(d) the aggregate amount reallocated from such Tranche of Class A Notes to the Class B Notes, Class C Notes or
Class D Notes pursuant to Section 3.05(b) on such date; plus 

  
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 (e) the aggregate amount of Card Series Principal Amounts allocated to the
Interest Funding sub-Account of such Tranche of Class A Notes pursuant to Section 3.07(a) on such date; plus 

(f) an amount equal to the product of (i) an amount, not less than zero, equal to the aggregate amount allocated to the
Class C Notes pursuant to Section 3.08(d)(i) on such date, minus the aggregate amount reallocated to the Class D Notes pursuant to Section 3.08(e) on such date and (ii) a fraction, the numerator of which
is the Class A Available Subordinated Amount of Class C Notes for such Tranche of Class A Notes and the denominator of which is the aggregate Nominal Liquidation Amount of the Class C Notes, in each case, after giving effect to
Section 3.05; plus 
 (g) an amount equal to the product of (i) the aggregate amount allocated to the
Class D Notes pursuant to Section 3.08(d)(ii) or reallocated to the Class D Notes pursuant to Section 3.08(e) on such date and (ii) a fraction, the numerator of which is the Class A Available Subordinated
Amount of Class D Notes and the denominator of which is the aggregate Nominal Liquidation Amount of the Class D Notes, in each case, after giving effect to Section 3.05; plus 

(h) an amount equal to the product of (i) the aggregate amount allocated to the Class D Notes pursuant to
Section 3.08(f) on such date and (ii) a fraction, the numerator of which is the Class A Available Subordinated Amount of Class D Notes for such Tranche of Class A Notes and the denominator of which is the aggregate
Nominal Liquidation Amount of the Class D Notes, in each case, after giving effect to Section 3.05; plus 

(i) the aggregate amount of Card Series Principal Amounts paid to the Servicer pursuant to Section 3.07(d) on such
date; plus 
 (j) an amount equal to the product of (i) an amount, not less than zero, equal to the aggregate
amount allocated to the Class C Notes pursuant to Section 3.08(j)(i) on such date, minus the aggregate amount reallocated to the Class D Notes pursuant to Section 3.08(k) on such date and (ii) a
fraction, the numerator of which is the Class A Available Subordinated Amount of Class C Notes for such Tranche of Class A Notes and the denominator of which is the aggregate Nominal Liquidation Amount of the Class C Notes, in
each case, after giving effect to Section 3.05; plus 
 (k) an amount equal to the product of (i) the
aggregate amount allocated to the Class D Notes pursuant to Section 3.08(j)(ii) or reallocated to the Class D Notes pursuant to Section 3.08(k) on such date and (ii) a fraction, the numerator of which is the
Class A Available Subordinated Amount of Class D Notes for such Tranche of Class A Notes and the denominator of which is the aggregate Nominal Liquidation Amount of the Class D Notes, in each case, after giving effect to
Section 3.05; plus 
 (l) an amount equal to the product of (i) the aggregate amount allocated to the
Class D Notes pursuant to Section 3.08(f) on such date and (ii) a fraction, the numerator 

  
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of which is the Class A Available Subordinated Amount of Class D Notes for such Tranche of Class A Notes and the denominator of which is the aggregate Nominal Liquidation Amount of
the Class D Notes, in each case, after giving effect to Section 3.05; minus 
 (m) an amount (not to
exceed the Class A Usage Amount of Class B Notes for such Tranche of Class A Notes after giving effect to the amounts computed pursuant to clauses (a) through (l) above) equal to the product of (i) the aggregate Nominal
Liquidation Amount Deficits of all Class B Notes which are reimbursed on such Distribution Date pursuant to Section 3.06 and (ii) a fraction, the numerator of which is the Class A Usage Amount of Class B Notes (prior
to giving effect to any reimbursement of Nominal Liquidation Amount Deficits on such Distribution Date) for such Tranche of Class A Notes and the denominator of which is the aggregate Nominal Liquidation Amount Deficits (prior to giving effect
to such reimbursement) of all Class B Notes; minus 
 (n) an amount (not to exceed the Class A Usage Amount
of Class C Notes for such Tranche of Class A Notes after giving effect to the amounts computed pursuant to clauses (a) through (l) above) equal to the product of (i) the aggregate Nominal Liquidation Amount Deficits of all
Class C Notes which are reimbursed on such Distribution Date pursuant to Section 3.06 and (ii) a fraction, the numerator of which is the Class A Usage Amount of Class C Notes (prior to giving effect to any
reimbursement of Nominal Liquidation Amount Deficits on such Distribution Date) for such Tranche of Class A Notes and the denominator of which is the aggregate Nominal Liquidation Amount Deficits (prior to giving effect to such reimbursement)
of all Class C Notes; minus 
 (o) an amount (not to exceed the Class A Usage Amount of Class D Notes
for such Tranche of Class A Notes after giving effect to the amounts computed pursuant to clauses (a) through (l) above) equal to the product of (i) the aggregate Nominal Liquidation Amount Deficits of all Class D Notes
which are reimbursed on such Distribution Date pursuant to Section 3.06 and (ii) a fraction, the numerator of which is the Class A Usage Amount of Class D Notes (prior to giving effect to any reimbursement of Nominal
Liquidation Amount Deficits on such Distribution Date) for such Tranche of Class A Notes and the denominator of which is the aggregate Nominal Liquidation Amount Deficits (prior to giving effect to such reimbursement) of all Class D Notes.

 “Class B Available Subordinated Amount of Class C Notes” means, for any Tranche of Class B Notes, with
respect to any Distribution Date, an amount equal to the Required Subordinated Amount of Class C Notes minus the Class B Usage Amount of Class C Notes, each for such Tranche of Class B Notes as of such Distribution Date.

 “Class B Available Subordinated Amount of Class D Notes” means, for any Tranche of Class B Notes, with
respect to any Distribution Date, an amount equal to the Required Subordinated Amount of Class D Notes minus the Class B Usage Amount of Class D Notes, each for such Tranche of Class B Notes as of such Distribution Date.

  
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 “Class B Available Subordinated Amount of Subordinated Notes” means, for
any Tranche of Class B Notes, with respect to any Distribution Date, an amount equal to the Required Subordinated Amount of Subordinated Notes minus the Class B Usage Amount of Subordinated Notes, each for such Tranche of
Class B Notes as of such Distribution Date. 
 “Class B Notes” means a Note specified in the applicable Terms
Document as belonging to Class B. 
 “Class B Principal Allocation” means, for any Monthly Period, an amount
equal to the product of (a) the aggregate amount of Asset Pool 1 Principal Amounts allocated to the Card Series pursuant to Section 3.3 of the Asset Pool 1 Supplement for such Monthly Period and (b) the percentage
equivalent of a fraction, the numerator of which is the sum of the Principal Allocation Amounts for such Monthly Period for all Class B Notes in the Card Series and the denominator of which is sum of the Principal Allocation Amounts for such
Monthly Period for all Notes in the Card Series. 
 “Class B Usage Amount of Class C Notes” means, with respect
to any Tranche of Class B Notes for any Distribution Date, an amount, not to exceed the Required Subordinated Amount of Class C Notes for such Tranche of Class B Notes, equal to the excess, if any, of the Class B Usage Amount of
Subordinated Notes over the Required Subordinated Amount of Class D Notes, in each case, for such Tranche of Class B Notes. 

“Class B Usage Amount of Class D Notes” means, with respect to any Tranche of Class B Notes for any
Distribution Date, an amount, not to exceed the Required Subordinated Amount of Class D Notes for such Tranche of Class B Notes, equal to the Class B Usage Amount of Subordinated Notes for such Tranche of Class B Notes. 

“Class B Usage Amount of Subordinated Notes” means, with respect to any Tranche of Outstanding Class B Notes, zero
on the date of issuance of such Tranche and on any Distribution Date thereafter the Class B Usage Amount of Subordinated Notes as of the preceding date of determination for such Tranche, plus the sum of the following amounts (in each case, such
amount shall not exceed the Class B Available Subordinated Amount of Subordinated Notes for such Tranche after giving effect to the previous clauses, if any): 

(a) an amount equal to the product of (i) the aggregate amount allocated to the Class C Notes pursuant to
Section 3.05(a) on such date and (ii) a fraction, the numerator of which is the Class B Available Subordinated Amount of Class C Notes for such Tranche of Class B Notes and the denominator of which is the aggregate
Nominal Liquidation Amount of the Class C Notes, in each case, after giving effect to Sections 3.05(a) and (b); plus 

(b) an amount equal to the product of (i) the aggregate amount reallocated pursuant to Section 3.05(b)(ii) on
such date from all Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero to the Class C Notes and (ii) a fraction, the numerator of which is the Class B Available Subordinated Amount of
Class C Notes for such Tranche of Class B Notes and the denominator of which is the aggregate Class B Available Subordinated Amount of Class C Notes for all Tranches of Class B Notes in the Card Series, in each case, after
giving effect to Sections 3.05(a) and (b); plus 

  
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 (c) an amount equal to the product of (i) the aggregate amount allocated to
the Class D Notes pursuant to Section 3.05(a) on such date and (ii) a fraction, the numerator of which is the Class B Available Subordinated Amount of Class D Notes for such Tranche of Class B Notes and the
denominator of which is the aggregate Nominal Liquidation Amount of the Class D Notes, in each case, after giving effect to Sections 3.05(a) and (b); plus 

(d) an amount equal to the product of (i) the aggregate amount reallocated pursuant to Section 3.05(b)(iii) on
such date from the Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero to the Class D Notes and (ii) a fraction, the numerator of which is the Class B Available Subordinated Amount of
Class D Notes for such Tranche of Class B Notes and the denominator of which is the aggregate Class B Available Subordinated Amount of Class D Notes for all Tranches of Class B Notes in the Card Series, in each case, after
giving effect to Sections 3.05(a) and (b); plus 
 (e) the aggregate amount reallocated from such
Tranche of Class B Notes to the Class C Notes or Class D Notes pursuant to Section 3.05(c) on such date; plus 

(f) an amount equal to the product of (i) an amount equal to the aggregate amount allocated to the Class C Notes
pursuant to Section 3.08(a)(ii) on such date with respect to Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero and (ii) a fraction, the numerator of which is the Class B Available
Subordinated Amount of Class C Notes for such Tranche of Class B Notes and the denominator of which is the aggregate Class B Available Subordinated Amount of Class C Notes for all Tranches of Class B Notes in the Card
Series, in each case, after giving effect to Section 3.05; plus 
 (g) an amount equal to the product of
(i) the aggregate amount allocated to the Class D Notes pursuant to Section 3.08(a)(iii) on such date with respect to Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero and
(ii) a fraction, the numerator of which is the Class B Available Subordinated Amount of Class D Notes for such Tranche of Class B Notes and the denominator of which is the aggregate Class B Available Subordinated Amount of
Class D Notes for all Tranches of Class B Notes in the Card Series, in each case, after giving effect to Section 3.05; plus 

(h) the aggregate amount reallocated from such Tranche of Class B Notes to the Class C Notes and Class D Notes
pursuant to Section 3.08(b) on such date; plus 
 (i) the aggregate amount of Card Series Principal
Amounts allocated to the Interest Funding sub-Account of such Tranche of Class B Notes pursuant to Section 3.07(b) on such date; plus 

  
 -9- 

 (j) an amount equal to the product of (i) the aggregate amount allocated to
the Class D Notes pursuant to Section 3.08(f) on such date and (ii) a fraction, the numerator of which is the Class B Available Subordinated Amount of Class D Notes for such Tranche of Class B Notes and the
denominator of which is the aggregate Nominal Liquidation Amount of the Class D Notes, in each case, after giving effect to Section 3.05 and Sections 3.08(a) through (e); plus 

(k) an amount equal to the product of (i) the aggregate amount allocated to the Class C Notes pursuant to
Section 3.08(g)(ii) on such date with respect to Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero and (ii) a fraction, the numerator of which is the Class B Available Subordinated
Amount of Class C Notes for such Tranche of Class B Notes and the denominator of which is the aggregate Class B Available Subordinated Amount of Class C Notes for all Tranches of Class B Notes in the Card Series, in each
case, after giving effect to Section 3.05 and Sections 3.08(a) through (f); plus 
 (l)
an amount equal to the product of (i) the aggregate amount allocated to the Class D Notes pursuant to Section 3.08(g)(iii) on such date with respect to Class A Notes with a Required Subordinated Amount of Class B
Notes greater than zero and (ii) a fraction, the numerator of which is the Class B Available Subordinated Amount of Class D Notes for such Tranche of Class B Notes and the denominator of which is the aggregate Class B
Available Subordinated Amount of Class D Notes for all Tranches of Class B Notes in the Card Series, in each case, after giving effect to Section 3.05 and Sections 3.08(a) through (f); plus 

(m) the aggregate amount reallocated from such Tranche of Class B Notes to the Class C Notes and Class D Notes
pursuant to Section 3.08(h) on such date; plus 
 (n) the aggregate amount of Card Series Principal
Amounts paid to the Servicer pursuant to Section 3.07(e) on such date; plus 
 (o) an amount equal to the
product of (i) the aggregate amount allocated to the Class D Notes pursuant to Section 3.08(l) on such date and (ii) a fraction, the numerator of which is the Class B Available Subordinated Amount of Class D
Notes for such Tranche of Class B Notes and the denominator of which is the aggregate Nominal Liquidation Amount of the Class D Notes, in each case, after giving effect to Section 3.05 and Sections 3.08(a) and
(k); minus 
 (p) an amount (not to exceed the Class B Usage Amount of Class C Notes for such Tranche
of Class B Notes after giving effect to the amounts computed pursuant to clauses (a) through (o) above) equal to the product of (i) the aggregate Nominal Liquidation Amount Deficits of all Class C Notes which are reimbursed
on such Distribution Date pursuant to Section 3.06 and (ii) a fraction, the numerator of which is the Class B Usage Amount of Class C Notes (prior to giving effect to any reimbursement of Nominal Liquidation Amount
Deficits on such Distribution Date) for such Tranche of Class B Notes and the denominator of which is the aggregate Nominal Liquidation Amount Deficits (prior to giving effect to such reimbursement) of all Class C Notes, minus; 

  
 -10- 

 (q) an amount (not to exceed the Class B Usage Amount of Class D Notes
for such Tranche of Class B Notes after giving effect to the amounts computed pursuant to clauses (a) through (o) above) equal to the product of (i) the aggregate Nominal Liquidation Amount Deficits of all Class D Notes
which are reimbursed on such Distribution Date pursuant to Section 3.06 and (ii) a fraction, the numerator of which is the Class B Usage Amount of Class D Notes (prior to giving effect to any reimbursement of Nominal
Liquidation Amount Deficits on such Distribution Date) for such Tranche of Class B Notes and the denominator of which is the aggregate Nominal Liquidation Amount Deficits (prior to giving effect to such reimbursement) of all Class D Notes;

 provided, however, that if on any date of determination the Required Subordinated Amount of Subordinated Notes for such Tranche of
Class B Notes changes pursuant to any Terms Document, after giving effect to such change, the Class B Usage Amount of Subordinated Notes will be an amount equal to the product of (a) the Required Subordinated Amount of Subordinated
Notes for such Tranche of Class B Notes after giving effect to such issuance and (b) a fraction, the numerator of which is the Class B Usage Amount of Subordinated Notes prior to giving effect to such issuance and the denominator of
which is the Required Subordinated Amount of Subordinated Notes for such Tranche of Class B Notes prior to giving effect to such issuance, subject to further adjustment as described above. 

“Class C Available Subordinated Amount of Class D Notes” means, for any Tranche of Class C Notes, with respect
to any Distribution Date, an amount equal to the Required Subordinated Amount of Class D Notes minus the Class C Usage Amount of Class D Notes, each for such Tranche of Class C Notes as of such Distribution Date. 

“Class C Notes” means a Note specified in the applicable Terms Document as belonging to Class C. 

“Class C Principal Allocation” means, for any Monthly Period, an amount equal to the product of (a) the aggregate
amount of Asset Pool 1 Principal Amounts allocated to the Card Series pursuant to Section 3.3 of the Asset Pool 1 Supplement for such Monthly Period and (b) the percentage equivalent of a fraction, the numerator of which
is the sum of the Principal Allocation Amounts for such Monthly Period for all Class C Notes in the Card Series and the denominator of which is sum of the Principal Allocation Amounts for such Monthly Period for all Notes in the Card Series.

 “Class C Reserve Account” means the trust account designated as such and established pursuant to
Section 5.01(a). 
 “Class C Usage Amount of Class D Notes” means, with respect to any Tranche of
Outstanding Class C Notes, zero on the date of issuance of such Tranche and on any Distribution Date thereafter the Class C Usage Amount of Class D Notes as of the preceding date of determination for such Tranche, plus the sum of the
following amounts (in each case, such amount shall not exceed the Class C Available Subordinated Amount of Class D Notes for such Tranche after giving effect to the previous clauses, if any): 

(a) an amount equal to the product of (i) the aggregate amount allocated to the Class D Notes pursuant to
Section 3.05(a) on such date and (ii) a fraction, the numerator of which is the Class C Available Subordinated Amount of Class D Notes for such Tranche of Class C Notes and the denominator of which is the aggregate
Nominal Liquidation Amount of the Class D Notes, in each case, after giving effect to Sections 3.05(a) and (b); plus 

  
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 (b) an amount equal to the product of (i) the aggregate amount reallocated
from the Class A Notes or the Class B Notes to the Class D Notes pursuant to Sections 3.05(b)(iii) and 3.05(c)(ii) on such date and (ii) a fraction, the numerator of which is the Class C Available
Subordinated Amount of Class D Notes for such Tranche of Class C Notes and the denominator of which is the aggregate Class C Available Subordinated Amount of Class D Notes for all Tranches of Class C Notes in the Card
Series, in each case, after giving effect to Sections 3.05(a) and (b); plus 
 (c) the aggregate
amount reallocated from such Tranche of Class C Notes to the Class D Notes pursuant to Section 3.05(d) on such date; plus 

(d) an amount equal to the product of (i) the aggregate amount allocated or reallocated to the Class D Notes pursuant
to Sections 3.08(a)(iii) and 3.08(b)(ii) on such date and (ii) a fraction, the numerator of which is the Class C Available Subordinated Amount of Class D Notes for such Tranche of Class C Notes and the
denominator of which is the aggregate Class C Available Subordinated Amount of Class D Notes for all Tranches of Class C Notes in the Card Series, in each case, after giving effect to Section 3.05; plus 

(e) an amount equal to the aggregate amount reallocated from such Tranche of Class C Notes to the Class D Notes
pursuant to Section 3.08(c) on such date; plus 
 (f) an amount equal to the product of (i) the
aggregate amount allocated to the Class D Notes pursuant to Section 3.08(d)(ii) on such date and (ii) a fraction, the numerator of which is the Class C Available Subordinated Amount of Class D Notes for such Tranche
of Class C Notes and the denominator of which is the aggregate Class C Available Subordinated Amount of Class D Notes for all Tranches of Class C Notes in the Card Series, in each case, after giving effect to
Section 3.05 and Sections 3.08(a) through (c); plus 
 (g) an amount equal to the
aggregate amount reallocated from such Tranche of Class C Notes to the Class D Notes pursuant to Section 3.08(e) on such date; plus 

(h) the aggregate amount of Card Series Principal Amounts allocated to the Interest Funding
sub-Account of such Tranche of Class C Notes pursuant to Section 3.07(c) on such date; plus 

  
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 (i) an amount equal to the product of (i) the aggregate amount allocated or
reallocated to the Class D Notes pursuant to Sections 3.08(g)(iii) and 3.08(h)(ii) on such date and (ii) a fraction, the numerator of which is the Class C Available Subordinated Amount of Class D Notes for such
Tranche of Class C Notes and the denominator of which is the aggregate Class C Available Subordinated Amount of Class D Notes for all Tranches of Class C Notes in the Card Series, in each case, after giving effect to
Section 3.05 and Sections 3.08(a) through (f); plus 
 (j) an amount equal to the
aggregate amount reallocated from such Tranche of Class C Notes to the Class D Notes pursuant to Section 3.08(i) on such date; plus 

(k) an amount equal to the product of (i) the aggregate amount allocated to the Class D Notes pursuant to
Section 3.08(j)(ii) on such date and (ii) a fraction, the numerator of which is the Class C Available Subordinated Amount of Class D Notes for such Tranche of Class C Notes and the denominator of which is the
aggregate Class C Available Subordinated Amount of Class D Notes for all Tranches of Class C Notes in the Card Series, in each case, after giving effect to Section 3.05 and Sections 3.08(a) through (i);
plus 
 (l) an amount equal to the aggregate amount reallocated from such Tranche of Class C Notes to the
Class D Notes pursuant to Section 3.08(k) on such date; plus 
 (m) the aggregate amount of Card
Series Principal Amounts paid to the Servicer pursuant to Section 3.07(f) on such date; minus 
 (n) an
amount (not to exceed the Class C Usage Amount of Class D Notes for such Tranche of Class C Notes after giving effect to the amounts computed pursuant to clauses (a) through (m) above) equal to the product of (i) the
aggregate Nominal Liquidation Amount Deficits of all Class D Notes which are reimbursed on such Distribution Date pursuant to Section 3.06 and (ii) a fraction, the numerator of which is the Class C Usage Amount of
Class D Notes (prior to giving effect to any reimbursement of Nominal Liquidation Amount Deficits on such Distribution Date) for such Tranche of Class C Notes and the denominator of which is the aggregate Nominal Liquidation Amount
Deficits (prior to giving effect to such reimbursement) of all Class D Notes; 
 provided, however, that if on any date of determination
the Required Subordinated Amount of Class D Notes for such Tranche of Class C Notes changes pursuant to any Terms Document, after giving effect to such change, the Class C Usage Amount of Class D Notes will be an amount equal to
the product of (a) the Required Subordinated Amount of Class D Notes for such Tranche of Class C Notes after giving effect to such issuance and (b) a fraction, the numerator of which is the Class C Usage Amount of
Class D Notes prior to giving effect to such issuance and the denominator of which is the Required Subordinated Amount of Class D Notes for such Tranche of Class C Notes prior to giving effect to such issuance, subject to further
adjustment as described above. 

  
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 “Class D Notes” means a Note specified in the applicable Terms Document as
belonging to Class D. 
 “Class D Principal Allocation” means, for any Monthly Period, an amount equal to the
product of (a) the aggregate amount of Asset Pool 1 Principal Amounts allocated to the Card Series pursuant to Section 3.3 of the Asset Pool 1 Supplement for such Monthly Period and (b) the percentage equivalent of a
fraction, the numerator of which is the sum of the Principal Allocation Amounts for such Monthly Period for all Class D Notes in the Card Series and the denominator of which is sum of the Principal Allocation Amounts for such Monthly Period for
all Notes in the Card Series. 
 “Class D Reserve Account” means the trust account designated as such and established
pursuant to Section 5.01(a). 
 “Derivative Accrual Date” means, for any Monthly Period with respect to any
Tranche of Notes which has a Performing Derivative Agreement for interest, the date in such Monthly Period corresponding numerically to the next payment date under the related Derivative Agreement following the end of the related Monthly Period.

 “Excess Finance Charges,” for the Card Series for any month, means the aggregate amount of Card Series Finance Charge
Amounts available after giving effect to Sections 3.01(a) through (k) for such month. 
 “Excess Spread
Amount” means, with respect to any Monthly Period, the aggregate amount of Card Series Finance Charge Amounts (exclusive of any amounts to be treated as Card Series Finance Charge Amounts pursuant to Section 3.04(a)(v))
minus the sum of the amounts, without duplication, determined pursuant to Sections 3.01(a) through (g). 

“Expected Monthly Principal” means, for any Monthly Period, an amount equal to the product of (i) the lowest of the
monthly principal payment rates (determined by dividing Collections of Principal Receivables during a calendar month by the amount of Principal Receivables in the Master Trust as of the last day of the preceding month, adjusted for additions to and
removals from the Master Trust occurring after such last day), expressed as a decimal for the 12 calendar months preceding the date of such calculation (or such lower principal payment rate as the Transferor may select) and (ii) the sum of
(A) the sum of the initial Invested Amounts of all outstanding Series of Investor Certificates issued by the Master Trust, other than Variable Funding Series and (B) the Principal Allocation Amount of each Tranche of Asset Pool 1
Notes. Capitalized terms used in this definition and not otherwise defined herein have the meaning given to such terms in the COMT Pooling and Servicing Agreement and the Series 2002-CC Supplement. 

“Finance Charge Shortfall” means, for the Card Series for any month, an amount equal to the excess, if any, of (a) the
sum of the amounts, without duplication, determined pursuant to Sections 3.01(a) through (k) over (b) the aggregate amount of Card Series Finance Charge Amounts. 

  
 -14- 

 “Floating Allocation Amount” means, for any Monthly Period, for any
Class or Tranche of Card Series Notes, the sum of: 
 (a) the Nominal Liquidation Amount of such Class or
Tranche of Card Series Notes as of the last day of the preceding Monthly Period, or with respect to the first Monthly Period for any Class or Tranche of Card Series Notes, the Initial Dollar Principal Amount of such Class or Tranche,
plus 
 (b) the aggregate amount of any increase in the Nominal Liquidation Amount of any Class or Tranche of
Card Series Notes during the current Monthly Period due to (x) the issuance of additional Notes of such Class or Tranche of Card Series Notes during such Monthly Period or (y) the accretion of principal on such Class or Tranche
of Card Series Discount Notes during such Monthly Period or (z) the release of Prefunding Excess Amounts (other than amount that were deposited into the applicable Principal Funding sub-Account for such
Class or Tranche of Card Series Notes during such Monthly Period) for such Class or Tranche of Card Series Notes from the applicable Principal Funding sub-Account. 

“Floating Allocation Percentage” means, for any Monthly Period, for the Card Series Notes, the percentage equivalent (which
percentage shall not exceed 100%) of a fraction, the numerator of which is the sum of the Floating Allocation Amounts of all Classes and Tranches of Card Series Notes for such Monthly Period (exclusive of (x) any Class or Tranche of Card
Series Notes which will be paid in full during such Monthly Period and (y) any Class or Tranche of Card Series Notes which will have a Nominal Liquidation Amount of zero during such Monthly Period) and the denominator of which is the sum
of the numerators used to calculate the Floating Allocation Percentages for all Series of Asset Pool 1 Notes for such Monthly Period. 

“IFA Reallocation Amount” means, with respect to any Tranche of Notes for any Distribution Date, the aggregate amount of Card
Series Principal Amounts allocated to the Interest Funding sub-Account for such Tranche of Notes pursuant to Section 3.07. 

“Indenture” means the Indenture dated as of October 9, 2002, as amended and restated as of January 13, 2006 and
March 17, 2016, by and between the Issuer and Indenture Trustee. 
 “Interest Funding Account” means the trust account
designated as such and established pursuant to Section 5.01(a). 
 “Interest Funding
sub-Account Earnings” means, with respect to each Distribution Date, the investment earnings on funds in the Interest Funding Account (net of investment expenses and losses) for the period from and
including the immediately preceding Distribution Date to but excluding such Distribution Date. 
 “Investor Charge-Offs” means, with respect to any Distribution Date, the aggregate amount, if any, by which the Card Series Defaulted Amount, if any, for the preceding Monthly Period exceeds the Card Series Finance
Charge Amounts for such Distribution Date available after giving effect to clauses (a) through (e) of Section 3.01. 

  
 -15- 

 “Monthly Interest Accrual Date” means, with respect to any Outstanding
Class or Tranche of Asset Pool 1 Notes: 
 (a) each Interest Payment Date for such Class or Tranche, or as otherwise
specified in the applicable Terms Document for such Tranche of Notes, and 
 (b) for any Monthly Period in which no Interest Payment Date
for such Class or Tranche occurs, the date in such Monthly Period corresponding numerically to the next Interest Payment Date for such Class or Tranche of Notes, or in the case of a Class or Tranche of Discount Notes, the Expected
Principal Payment Date for that Class or Tranche; provided, however, that 
 (i) for the Monthly Period in
which a Class or Tranche of Notes is issued, the date of issuance of such Class or Tranche will be the first Monthly Interest Accrual Date for such Monthly Period for such Class or Tranche of Notes, 

(ii) any date on which proceeds from a sale of assets following an Event of Default and acceleration of any Tranche of Notes
are deposited into the Interest Funding sub-Account for such Notes will be a Monthly Interest Accrual Date for such Tranche of Notes, 

(iii) if there is no such numerically corresponding date in such Monthly Period, then the Monthly Interest Accrual Date will be
the last Business Day of such Monthly Period, and 
 (iv) if such numerically corresponding date in such Monthly Period is
not a Business Day, then the Monthly Interest Accrual Date will be the next following Business Day (unless such Business Day would fall in the following Monthly Period in which case the Monthly Interest Accrual Date will be the last Business Day of
such earlier month). 
 “Monthly Principal Accrual Date” means, with respect to any Outstanding Class or Tranche of
Asset Pool 1 Notes: 
 (a) for any Monthly Period in which an Expected Principal Payment Date for such Class or Tranche occurs,
such Expected Principal Payment Date, or as otherwise specified in the applicable Terms Document for such Tranche of Notes, and 
 (b) for
any Monthly Period in which no Expected Principal Payment Date for such Class or Tranche occurs, the date in such Monthly Period corresponding numerically to the next Expected Principal Payment Date for such Tranche of Notes (or for any month
following the last Expected Principal Payment Date, the date in such month corresponding numerically to the preceding Expected Principal Payment Date for such Tranche of Notes), or as otherwise specified in the applicable Terms Document, for such
Tranche of Notes; provided, however, that: 
 (i) following a Pay Out Event as described in subsection
9.01(a) of the COMT Pooling and Servicing Agreement, the second Business Day following such Pay Out Event shall be a Monthly Principal Accrual Date, 

  
 -16- 

 (ii) any date on which Prefunded Excess Amounts are released from any Principal
Funding sub-Account and deposited into the Principal Funding sub-Account of any Tranche of Notes on or after the Expected Principal Payment Date for such Tranche of
Notes will be a Monthly Principal Accrual Date for such Tranche of Notes, 
 (iii) any date on which proceeds from a sale of
assets following an Event of Default and acceleration of any Tranche of Notes are deposited into the Principal Funding sub-Account for such Tranche of Notes will be a Monthly Principal Accrual Date for such
Tranche of Notes, 
 (iv) if there is no numerically corresponding date in such Monthly Period, then the Monthly Principal
Accrual Date will be the last Business Day of such Monthly Period, and 
 (v) if such numerically corresponding date in such
Monthly Period is not a Business Day, the Monthly Principal Accrual Date will be the next following Business Day (unless such Business Day would fall in the following month in which case the Monthly Principal Accrual Date will be the last Business
Day of such earlier Monthly Period). 
 “Monthly Principal Payment” means, for any Monthly Period for the Card Series
Notes, an amount, not less than zero, equal to (a) the Targeted Principal Deposit Amount, plus (b) the aggregate amount of Card Series Principal Amounts applied pursuant to Section 3.07(a) through (f),
minus (c) the aggregate amount of Card Series Finance Charge Amounts treated as Card Series Principal Amounts pursuant to Section 3.01(f) or (g), each with respect to such Monthly Period. 

“Nominal Liquidation Amount” means, with respect to any Tranche of Notes, the amount calculated pursuant to
Section 3.16 of this Indenture Supplement. The Nominal Liquidation Amount for the Card Series will be the sum of the Nominal Liquidation Amounts of all of the Tranches of Notes of the Card Series. 

“Nominal Liquidation Amount Deficit” means, with respect to any Tranche of Notes, the excess of the Adjusted Outstanding
Dollar Principal Amount of that Tranche over the Nominal Liquidation Amount of that Tranche. 
 “Performing” means, with
respect to any Derivative Agreement, no payment default or repudiation of performance by a Derivative Counterparty has occurred, and such Derivative Agreement has not been terminated. 

  
 -17- 

 “PFA Accumulation Earnings” means, with respect to each Distribution Date, the
investment earnings on funds in the Principal Funding Account (net of investment expenses and losses), other than funds in the Principal Funding Account in connection with any Prefunding Target Amounts, for the period from and including the
immediately preceding Distribution Date to but excluding such Distribution Date. 
 “PFA Accumulation Earnings
Shortfall” means, for any Distribution Date, 
 (a) the aggregate of the PFA Accumulation Earnings Target for
each Tranche of Card Series Notes for such Distribution Date, minus 
 (b) the PFA Accumulation Earnings for such
period. 
 “PFA Accumulation Earnings Target” means, for any Distribution Date, with respect to any amount on deposit in a
Principal Funding sub-Account (prior to giving effect to any deposits to be made on such date), other than any amount in connection with a Prefunding Target Amount, for a Tranche of Notes, the Dollar amount of
interest that would have accrued on such deposit (or portion thereof) for the period from and including the preceding Distribution Date to but excluding such Distribution Date if it had borne interest at the following rates: 

(a) in the case of a Tranche of Dollar Interest-bearing Notes with no Derivative
Agreement for interest, at the rate of interest applicable to that Tranche; 
 (b) in the case of a Tranche of Discount
Notes, at the rate of accretion (converted to an accrual rate) of that Tranche; 
 (c) in the case of a Tranche of Notes with
a Performing Derivative Agreement for interest, at the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue (prior to the netting of such payments, if applicable); and 

(d) in the case of a Tranche of Notes with a non-Performing Derivative Agreement for
interest, at the rate specified in the related Terms Document. 
 More than one of the aforementioned rates of interest may be applicable to amounts on
deposit in a Principal Funding sub-Account for a Tranche of Notes. 
 “PFA Prefunding
Earnings” means, with respect to each Distribution Date, the investment earnings on funds in the Principal Funding Account (net of investment expenses and losses) in connection with any Prefunding Target Amounts for the period from and
including the immediately preceding Distribution Date to but excluding such Distribution Date. 
 “PFA Prefunding Earnings
Shortfall” means, for any Distribution Date, 
 (a) the aggregate PFA Prefunding Earnings Targets for each
Tranche of Card Series Notes for such Distribution Date, minus 
 (b) the PFA Prefunding Earnings for such period.

  
 -18- 

 “PFA Prefunding Earnings Target” means, for any Distribution Date, with respect
to any amount on deposit in a Principal Funding sub-Account in connection with a Prefunding Target Amount for a Tranche of Notes, the Dollar amount of interest that would have accrued on such deposit (or
portion thereof) for the period from and including the preceding Distribution Date to but excluding such Distribution Date if it had borne interest at the following rates: 

(a) in the case of a Tranche of Dollar Interest-bearing Notes with no Derivative
Agreement for interest, at the rate of interest applicable to that Tranche; 
 (b) in the case of a Tranche of Discount
Notes, at the rate of accretion (converted to an accrual rate) of that Tranche; 
 (c) in the case of a Tranche of Notes with
a Performing Derivative Agreement for interest, at the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue (prior to the netting of such payments, if applicable); and 

(d) in the case of a Tranche of Notes with a non-Performing Derivative Agreement for
interest, at the rate specified in the related Terms Document. 
 More than one of the aforementioned rates of interest may be applicable to
amounts on deposit in a Principal Funding sub-Account for a Tranche of Notes. 
 “Prefunding
Excess Amount” means, with respect to any Senior Class of Notes for any date, after giving effect to all issuances, allocations, deposits and payments with respect to that date, the aggregate amounts on deposit in the Principal Funding
sub-Accounts of the Notes of that Class that are in excess of the aggregate amount targeted to be on deposit in those Principal Funding sub-Accounts pursuant to
Section 3.10. 
 “Prefunding Target Amount” means the amount calculated pursuant to Section 3.21.

 “Principal Allocation Amount” means, for any Monthly Period, for the Card Series Notes, 

(a) for all Classes or Tranches of Card Series Notes in an Accumulation Period, the Nominal Liquidation Amount of such
Class or Tranche of Card Series Notes as of the close of business on the day prior to the commencement of the most recent Accumulation Period for such Class or Tranche of the Card Series, and 

(b) for all other Classes or Tranches of Outstanding Card Series Notes, the sum of: 

(i) the Nominal Liquidation Amount of such Classes or Tranches of Card Series Notes, as of the close of business on the last
day of the immediately 

  
 -19- 

 
preceding Monthly Period, or with respect to the first Monthly Period for any Class or Tranche of Card Series Notes, the Initial Dollar Principal Amount of such Class or Tranche, and

 (ii) the aggregate amount of any increase in the Nominal Liquidation Amount of such Class or Tranche of Card Series
Notes during the current Monthly Period due to (x) the issuance of additional Notes of such Class or Tranche of Card Series Notes during such Monthly Period or (y) the accretion of principal on such Class or Tranche of Card
Series Discount Notes during such Monthly Period or (z) the release of Prefunding Excess Amounts (other than amounts that were deposited into the applicable Principal Funding sub-Account for such
Class or Tranche of Card Series Notes during such Monthly Period) for such Class or Tranche of Card Series Notes from the Principal Funding Account or applicable Principal Funding sub-Account; 

provided, however, that if after the commencement of an Accumulation Period for a Tranche of Notes, another Tranche of Notes that
was designated in or under the Terms Document therefor as a Tranche that is a “Paired Tranche” with respect to the first Tranche of Notes, the Administrator, on behalf of the Issuer, may, by written notice delivered to the Indenture
Trustee, designate an amount (the “Paired Amount”) to be subtracted from the amount calculated pursuant to clause (a) or (b) above for the second Tranche of Notes, provided that (x) such amount shall not exceed 90% of the
aggregate amount on deposit in the Principal Funding sub-Account for such first Tranche of Notes and (y) the Issuer shall have received written notice from each Note Rating Agency that such designation
will not have a Ratings Effect and shall have delivered copies of each such written notice to the Indenture Trustee and the Issuer shall have delivered to the Indenture Trustee an Officer’s Certificate to the effect that, based on the facts
known to such officer at that time, in the reasonable belief of the Issuer, such designation will not have an Adverse Effect with respect to any Outstanding Notes. 

“Principal Allocation Percentage” means, for any Monthly Period, for the Card Series Notes, the percentage equivalent (which
percentage shall not exceed 100%) of a fraction, the numerator of which is equal to the sum of the Principal Allocation Amounts for all Classes or Tranches of Card Series Notes (exclusive of (x) any Class or Tranche of Card Series Notes
which will be paid in full during such Monthly Period and (y) any Class or Tranche of Card Series Notes which will have a Nominal Liquidation Amount of zero during such Monthly Period) and the denominator of which is the sum of the
numerators used to calculate the Principal Allocation Percentages for all Series of Asset Pool 1 Notes for such Monthly Period. 

“Principal Funding Account” means the trust account designated as such and established pursuant to
Section 5.01(a). 
 “Principal Funding sub-Account Amount” means, with
respect to any Tranche of Notes as of any date, the amount on deposit in the Principal Funding sub-Account for such Tranche of Notes on such date. 

  
 -20- 

 “Principal Shortfall” means, for the Card Series for any month, an amount equal
to the excess, if any, of (a) the aggregate amount of Card Series Principal Amounts over (b) the sum of the amounts, without duplication, determined pursuant to Sections 3.07(a) through (g). 

“Reallocated Principal Amount” means, with respect to any Distribution Date, the aggregate amount of Card Series Principal
Amounts which are allocated to be deposited in the Interest Funding sub-Account of any Class A Notes, Class B Notes or Class C Notes pursuant to Section 3.07(a), (b) or
(c) or allocated to the Servicer pursuant to Section 3.07(d), (e) or (f) on such Distribution Date. 

“Required Excess Spread Amount” means, with respect to any Monthly Period, an amount equal to zero; provided,
however, that the Issuer may, from time to time, change such amount (which will never be less than zero) upon (i) written notice to the Indenture Trustee, (ii) prior written confirmation from the Note Rating Agencies that a Ratings
Effect will not occur with respect to such change and (iii) delivery by the Issuer of an Officer’s Certificate to the effect that, in its reasonable belief, such change will not have an Adverse Effect. 

“Required Subordinated Amount of Class B Notes” at any time, for any Tranche of Class A Notes, is defined in the
Terms Document for such Tranche of Class A Notes. 
 “Required Subordinated Amount of Class C Notes” at any time,
for any Tranche of Class A Notes or Class B Notes, is defined in the related Terms Document for such Tranche of Notes. 

“Required Subordinated Amount of Class D Notes” at any time, for any Tranche of Class A Notes, Class B Notes
or Class C Notes, is defined in the related Terms Document for such Tranche of Notes. 
 “Required Subordinated Amount of
Subordinated Notes” at any time, for any Tranche of Class A Notes, Class B Notes or Class C Notes, is equal to the sum of the Required Subordinated Amount of Class B Notes, if any, the Required Subordinated Amount of
Class C Notes, if any, and the Required Subordinated Amount of Class D Notes, if any, in each case, for such Tranche of Notes. 

“Senior Class” means (a) with respect to the Class B Notes, the Class A Notes, (b) with respect to the
Class C Notes, the Class A Notes or Class B Notes and (c) with respect to the Class D Notes, the Class A Notes, Class B Notes or Class C Notes. 

“Series Finance Charge Amounts Shortfall” means, with respect to any Distribution Date with respect to the Card Series, the
excess, if any, of (a) the aggregate amount targeted to be paid or applied pursuant to Sections 3.01(a) through (g) for any Distribution Date over (b) the Card Series Finance Charge Amounts (excluding any amounts to
be treated as Card Series Finance Charge Amounts pursuant to Section 3.27(a)) for such Distribution Date; provided, however, that the Issuer, when authorized by an Officer’s Certificate, may amend or otherwise modify
this definition of Series Finance Charge Amounts Shortfall provided the Note Rating Agencies confirm in writing that the amendment or modification will not cause a Ratings Effect with respect to any Outstanding Notes. 

  
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 “Series Principal Amounts Shortfall” means, with respect to any Distribution
Date with respect to the Card Series, the excess, if any, of (a) the aggregate amount targeted to be paid or applied pursuant to Sections 3.07(a) through (g) for any Distribution Date over (b) the Card Series
Principal Amounts (excluding any amounts to be treated as Card Series Principal Amounts pursuant to Section 3.28(a)) for such Distribution Date; provided, however, that the Issuer, when authorized by an Officer’s
Certificate, may amend or otherwise modify this definition of Series Principal Amounts Shortfall provided the Note Rating Agencies confirm in writing that the amendment or modification will not cause a Ratings Effect with respect to any Outstanding
Notes. 
 “Servicer” means the Servicer under the COMT Pooling and Servicing Agreement. 

“Servicing Fee Shortfall” means for any Distribution Date, the excess, if any, of (a) the aggregate amount payable to
the Servicer pursuant to Section 3.01(d) with respect to such Distribution Date, and (b) the aggregate amount of Card Series Finance Charge Amounts available after giving effect to Section 3.01(c) on such Distribution
Date. 
 “Shared Excess Finance Charge Amounts” means, with respect to any Distribution Date with respect to any Series of
Notes, either (a) the amount of Card Series Finance Charge Amounts for such Distribution Date available after application in accordance with Sections 3.01(a) through (k) or (b) the amounts allocated to other Series of
Notes or Investor Certificates which the applicable Indenture Supplements for such Series of Notes or the applicable Series Supplements for such Investor Certificates specify are to be treated as “Shared Excess Finance Charge Amounts. 

“Shared Excess Principal Amounts” means, with respect to any Distribution Date with respect to any Series of Notes, either
(a) the amount of Card Series Principal Amounts for such Distribution Date available after application in accordance with Sections 3.07(a) through (e) or (b) the amounts allocated to other Series of Notes or
Investor Certificates which the applicable Indenture Supplements for such Series specify are to be treated as “Shared Excess Principal Amounts.” 

“Spot Exchange Rate,” for any Tranche of Notes, has the meaning specified in the related Terms Document. 

“Subordinated Class” means (a) with respect to the Class A Notes, the Class B Notes, Class C Notes or
Class D Notes, (b) with respect to the Class B Notes, the Class C Notes or Class D Notes, and (c) with respect to the Class C Notes, the Class D Notes. 

“Targeted Interest Deposit Amount” means, with respect to the Card Series Notes for any Distribution Date, the aggregate
amount targeted to be deposited in the Interest Funding Account pursuant to Section 3.02 for such Distribution Date. 

  
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 “Targeted Principal Deposit Amount” means, with respect to the Card Series Notes
for any Distribution Date, the aggregate amount targeted to be deposited in the Principal Funding Account pursuant to Section 3.10 for such Distribution Date. 

“Threshold Conditions” shall mean the conditions listed on Exhibit D, which Exhibit D may be amended, modified or
supplemented by the Issuer upon receipt of the prior written consent of the Note Rating Agencies. 
 “Weighted Average Interest
Rates” means, with respect to any Outstanding Notes of a Class or Tranche of the Card Series, or of all of the Outstanding Notes of the Card Series, on any date, the weighted average (weighted based on the Outstanding Dollar Principal
Amount of the related Notes on such date) of the following rates of interest: 
 (a) in the case of a Tranche of Dollar Interest-bearing Notes with no Derivative Agreement for interest, the annualized rate of interest applicable to that Tranche on that date; 

(b) in the case of a Tranche of Discount Notes, the rate of accretion (converted to an annualized accrual rate) of that Tranche
on that date; 
 (c) in the case of a Tranche of Notes with a payment due under a Performing Derivative Agreement for
interest, the annualized rate at which payments by the Issuer to the applicable Derivative Counterparty accrue on that date (prior to the netting of such payments, if applicable); and 

(d) in the case of a Tranche of Notes with a non-Performing Derivative Agreement for
interest, the annualized rate specified for that date in the related Terms Document. 
 Section 1.02. Governing Law. THIS
INDENTURE SUPPLEMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, 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. 

Section 1.03. Counterparts. This Indenture Supplement may be executed in any number of counterparts, each of which so executed
will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04.
Ratification of Indenture and Asset Pool 1 Supplement. As supplemented by this Indenture Supplement, the Indenture and the Asset Pool 1 Supplement are in all respects ratified and confirmed and the Indenture and the Asset
Pool 1 Supplement as so supplemented by this Indenture Supplement shall be read, taken and construed as one and the same instrument. 

[END OF ARTICLE I] 

  
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 ARTICLE II 

The Notes 

Section 2.01. Creation and Designation. 

(a) There is hereby created a Series of Asset Pool 1 Notes to be issued pursuant to the Indenture, the Asset Pool 1 Supplement and
this Indenture Supplement to be known as “Capital One Multi-Asset Execution Trust, Card Series” or the “Card Series Notes.” The Card Series Notes will be issued in four Classes, the first
of which shall be known as the “Card Series Class A Notes,” the second of which shall be known as the “Card Series Class B Notes,” the third of which shall be known as the “Card Series Class C Notes” and
the fourth of which shall be known as the “Card Series Class D Notes.” 
 (b) The Card Series shall be an Excess Finance
Charge Amounts Sharing Series in Excess Finance Charge Amounts Sharing Group A and an Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A, and shall not be in any other Group. The Card Series Notes shall not be
subordinated to any other Series of Notes. 
 (c) Notwithstanding the allocation provisions of the Indenture, the Asset Pool 1
Supplement, each additional Asset Pool Supplement, this Indenture Supplement and the Indenture Supplements for each other Series of Notes, if any, to the extent that the Card Series Noteholders are deemed to have any interest in any assets of
the Issuer allocated to other Series of Notes secured by Asset Pool 1 or another Asset Pool, the Card Series Noteholders agree by acceptance of their Card Series Notes that their interest in those assets is subordinate to claims or rights of
the Noteholders of such other Series of Notes to those other assets. Further, the Card Series Noteholders shall agree by their acceptance of their Card Series Notes that such agreement constitutes a subordination agreement for purposes of
Section 510(a) of the Bankruptcy Code. 
 Section 2.02. New Issuances of Notes. The Issuer may issue new Tranches of Notes
(including additional Notes of an Outstanding Tranche) to be included in the Card Series, so long as the following conditions precedent are satisfied: 

(i) on or before the date that the new issuance is to occur, the Issuer shall have delivered to the Indenture Trustee a Terms
Document relating to the applicable Tranche of Notes; 
 (ii) if the issuance of Notes results in an increase in the targeted
deposit amount of any Class C Reserve sub-Account of a Tranche of Class C Notes or any Class D Reserve sub-Account of a Tranche of Class D Notes, on
such issuance date the Issuer shall have funded such increase with a cash deposit to such Class C Reserve sub-Account or Class D Reserve sub-Account, as
applicable; 
 (iii) unless the Threshold Conditions with respect to the related Class of Notes have been satisfied, the
conditions specified in Section 310 of the Indenture, as applicable, are satisfied; 

  
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 (iv) immediately after giving effect to such issuance, the Nominal Liquidation
Amount of the Class B Notes in the Card Series must be at least equal to the Class A Available Subordinated Amount of Class B Notes for all Class A Notes in the Card Series; 

(v) immediately after giving effect to such issuance, the Nominal Liquidation Amount of the Class C Notes in the Card
Series must be at least equal to the sum of (x) the aggregate Class A Available Subordinated Amount of Class C Notes for all Class A Notes in the Card Series with a Required Subordinated Amount of Class B Notes equal to zero
and (y) the aggregate Class B Available Subordinated Amount of Class C Notes for all Class B Notes in the Card Series; 

(vi) immediately after giving effect to such issuance, the Nominal Liquidation Amount of the Class D Notes in the Card
Series must be at least equal to the greater of (A) the sum of (x) the aggregate Class A Available Subordinated Amount of Class D Notes for all Class A Notes in the Card Series with a Required Subordinated Amount of
Class B Notes of zero and (y) the aggregate Class B Available Subordinated Amount of Class D Notes for all Class B Notes in the Card Series and (B) the aggregate Class C Available Subordinated Amount of
Class D Notes for all Class C Notes in the Card Series; and 
 (vii) any other conditions specified in the related
Terms Document. 
 [END OF ARTICLE II] 

  
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 ARTICLE III 

Allocations, Deposits and Payments 

Section 3.01. Allocations of Card Series Finance Charge Amounts. On each Distribution Date, the Indenture Trustee will apply Card
Series Finance Charge Amounts, as follows: 
 (a) first, to make the targeted deposits with respect to the Class A Notes to the
Interest Funding Account pursuant to Section 3.02; 
 (b) second, to make the targeted deposits with respect to the Class B
Notes to the Interest Funding Account pursuant to Section 3.02; 
 (c) third, to make the targeted deposits with respect to the
Class C Notes to the Interest Funding Account pursuant to Section 3.02; 
 (d) fourth, to pay the Card Series Servicing Fee
plus any previously due and unpaid Card Series Servicing Fee to the Servicer; 
 (e) fifth, to make the targeted deposits with
respect to the Class D Notes to the Interest Funding Account pursuant to Section 3.02; 
 (f) sixth, to be treated as Card
Series Principal Amounts for application in accordance with Section 3.07 in an amount equal to the Card Series Defaulted Amount, if any, for the preceding Monthly Period; 

(g) seventh, to be treated as Card Series Principal Amounts for application in accordance with Section 3.07 in an amount equal to
the aggregate Nominal Liquidation Amount Deficits, if any, of all Card Series Notes; 
 (h) eighth, to make the targeted deposit to the
Accumulation Reserve Account, if any, pursuant to Section 3.24; 
 (i) ninth, to make the targeted deposit to the Class C
Reserve Account, if any, pursuant to Section 3.22; 
 (j) tenth, to make the targeted deposit to the Class D Reserve
Account, if any, pursuant to Section 3.29; 
 (k) eleventh, to make any other payment or deposit required by the Terms Documents
of any Class or Tranche of Card Series Notes; 
 (l) twelfth, to be treated as Shared Excess Finance Charge Amounts for application in
accordance with Section 3.27; 

  
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 (m) thirteenth, to make any other payment or deposit required by the Terms Documents of any
Class or Tranche of Card Series Notes; and 
 (n) fourteenth, to the holder of Asset Pool 1 Transferor Interest or, provided that
the conditions set forth in Section 10.02 of the Trust Agreement with respect to transfers of a portion of the Beneficial Interest are met, to the designee of the holder of the Asset Pool 1 Transferor Interest as though such
designee were a transferee of such portion. 
 Section 3.02. Targeted Deposits of Card Series Finance Charge Amounts to the Interest
Funding Account. The aggregate amount of Card Series Finance Charge Amounts targeted to be deposited into the Interest Funding Account for each Tranche within the related Class of Notes pursuant to Sections 3.01(a), (b),
(c) or (e) on each Distribution Date is equal to the sum of the following amounts. The targeted deposit on any Distribution Date will also include any shortfall in the targeted deposit with respect to any prior Distribution
Date which has not been previously deposited. 
 (a) Specified Deposits. If the Terms Document for a Tranche of Notes specifies a
deposit to be made to the Interest Funding sub-Account for that Tranche, the deposit targeted for that Tranche of Notes with respect to that Distribution Date is such specified amount. 

(b) Interest Payments. The deposit targeted for any Tranche of Outstanding Interest-bearing
Notes on each Distribution Date will be equal to the amount of interest accrued on the Outstanding Dollar Principal Amount of that Tranche during the period from and including the first Monthly Interest Accrual Date in the prior Monthly Period to
but excluding the first Monthly Interest Accrual Date for the current Monthly Period. 
 (c) Amounts Owed to Derivative
Counterparties. If a Tranche of Outstanding Dollar Notes or foreign currency Notes that has a Performing or non-Performing Derivative Agreement for interest provides for a payment to the applicable
Derivative Counterparty, the deposit targeted for that Tranche of Notes on each Distribution Date with respect to any payment to the Derivative Counterparty will be specified in the related Terms Document. 

(d) Discount Notes. The deposit targeted for a Tranche of Outstanding Discount Notes on each Distribution Date is the amount of
accretion of principal of that Tranche of Notes from and including the prior Monthly Principal Accrual Date in the related Monthly Period (or in the case of the first Monthly Principal Accrual Date with respect to any Tranche of Discount Notes, from
and including the date of issuance of that Tranche of Notes) to but excluding the first Monthly Principal Accrual Date for the next month. 

(e) Additional Interest. Unless otherwise specified in the applicable Terms Document, the deposit targeted for any Tranche of
Outstanding Notes (other than Discount Notes) for any month that has previously due and unpaid interest will include the interest accrued on that overdue interest during the period from and including the first Monthly Interest Accrual Date in the
prior month to but excluding the first Monthly Interest Accrual Date for the current month at the rate of interest applicable to the principal of that Tranche during that period. 

  
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 Section 3.03. Allocations of Card Series Finance Charge Amounts to Interest Funding sub-Accounts. The aggregate amount to be deposited to the Interest Funding Account for a Class of Notes pursuant to Sections 3.01(a), (b), (c) or (e) for each
Monthly Period will be allocated, and a portion deposited into the Interest Funding sub-Account for each Tranche of Notes within such Class, as follows: 

(a) Card Series Finance Charge Amounts are at Least Equal to Targeted Amounts. If the amount of funds available for a Monthly Period
pursuant to Section 3.01 (after giving effect to any previous deposits pursuant to Section 3.01 on such Distribution Date) is at least equal to the aggregate amount of the deposits and payments targeted by
Section 3.02 for the related Class of Notes, then the targeted amount of each such deposit and payment will be made to the applicable Interest Funding sub-Accounts. 

(b) Card Series Finance Charge Amounts are Less than Targeted Amounts. If the amount of funds available for a Monthly Period pursuant
to Section 3.01 (after giving effect to any previous deposits pursuant to Section 3.01 on such Distribution Date) is less than the aggregate amount of the deposits targeted by Section 3.02 for the related
Class of Notes, then the amount available will be allocated to each Tranche within such Class of Notes pro rata based on the ratio of (A) the aggregate amount of the deposits targeted by Section 3.02 with respect to
that Tranche of Notes, to (B) the aggregate amount of the deposits targeted by Section 3.02 with respect to all Tranches within the related Class of Notes. 

Section 3.04. Amounts to be Treated as Card Series Finance Charge Amounts; Payments Received from Derivative Counterparties for
Interest in Foreign Currencies; Other Deposits to the Interest Funding sub-Accounts. The following deposits and payments will be made on the following dates: 

(a) Amounts to be Treated as Card Series Finance Charge Amounts. In addition to Asset Pool 1 Finance Charge Amounts allocated to
the Card Series pursuant to Section 3.2(a) of the Asset Pool 1 Supplement, the following amounts shall be treated as Card Series Finance Charge Amounts for application in accordance with this Article III for any Monthly
Period: 
 (i) PFA Accumulation Earnings Shortfall. The aggregate amount withdrawn from the Accumulation Reserve
Account pursuant to Section 3.25(a) will be treated as Card Series Finance Charge Amounts for such Monthly Period. 

(ii) PFA Prefunding Earnings Shortfall. On or prior to each Distribution Date, the Issuer will calculate the PFA
Prefunding Earnings Shortfall (if any) for the Principal Funding sub-Account for each Tranche of Notes. If there is any PFA Prefunding Earnings Shortfall for any Principal Funding sub-Account for that Distribution Date, or any unpaid PFA Prefunding Earnings Shortfall for any Principal Funding sub-Account from any earlier Distribution Date, in each case
for any Tranche of Notes, the Issuer will notify the Transferor and the Master Trust pursuant to the related Series Supplement of that amount. On each Distribution Date, the Indenture Trustee will treat as Card Series Finance Charge Amounts the
amount received by the Issuer in respect of segregated transferor interest finance charge amounts payable to the Issuer pursuant to the related 

  
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Series Supplement with respect to each Principal Funding sub-Account, if any; provided, however, that any such amounts paid to the Issuer
following an insolvency of the related transferor will be deposited directly into the applicable Interest Funding sub-Accounts pro rata based on the Floating Allocation Amount for such Monthly Period
for each Tranche with prefunded amounts in its Principal Funding sub-Account. 

(iii) Dollar Payments from Derivative Counterparties for Interest. Dollar payments received under Derivative Agreements
for interest for any Tranche of Notes will be treated as Card Series Finance Charge Amounts. 
 (iv) Sub-Account Earnings. Any PFA Accumulation Earnings, any PFA Prefunding Earnings, any Accumulation Reserve Account Earnings and any Interest Funding sub-Account Earnings
for any Distribution Date will be treated as Card Series Finance Charge Amounts for such Distribution Date. 
 (v) Shared
Excess Finance Charge Amounts. Any Shared Excess Finance Charge Amounts allocable to the Card Series will be treated as Card Series Finance Charge Amounts pursuant to Section 3.27(a). 

(vi) Other Amounts. This Indenture Supplement or the Terms Document for any Tranche of Notes may include additional
amounts which are to be treated as Card Series Finance Charge Amounts for any Distribution Date. 
 (b) Payments Received From Derivative
Counterparties. Payments received under Derivative Agreements for Notes with interest payable in foreign currencies will be applied as specified in the applicable Terms Document. 

(c) Other Deposits to the Interest Funding sub-Accounts. 

(i) Class C Reserve Account. Withdrawals made from the Class C Reserve Account pursuant to
Section 3.23(a) will be deposited into the applicable Interest Funding sub-Account on the Distribution Date. 

(ii) Class D Reserve Account. Withdrawals made from the Class D Reserve Account pursuant to
Section 3.30(a) will be deposited into the applicable Interest Funding sub-Account on the Distribution Date. 

(iii) Asset Sales Proceeds. Asset Sales Proceeds received by the Issuer pursuant to Section 3.20(c)(ii) for
any Tranche of Notes will be deposited into the applicable Interest Funding sub-Account on the date of receipt by the Issuer. 

(iv) Other Amounts. This Indenture Supplement or the Terms Document for any Tranche may include additional amounts which
are to be deposited into the applicable Interest Funding sub-Account on the Distribution Date. 

  
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 Section 3.05. Allocations of Reductions to the Nominal Liquidation Amount Due to Investor
Charge-Offs. On each Distribution Date when there is an Investor Charge-Off with respect to the related Monthly Period, the amount of such Investor Charge-Off will be allocated (and reallocated) on that date to each Tranche of Notes as set forth in this Section. In the case of each Tranche of Notes, the Nominal Liquidation Amount of each such Tranche of Notes
will be reduced by an amount equal to the amounts that are allocated or reallocated to that Tranche of Notes pursuant to this Section 3.05, less the amounts that are reallocated from that Tranche of Notes to other Notes pursuant
to this Section 3.05. 
 (a) Initial Allocation. Initially, the amount of each Investor
Charge-Off will be allocated to each Tranche of Outstanding Notes in the Card Series pro rata based on the ratio of the Nominal Liquidation Amount of such Tranche of Notes to the Nominal Liquidation
Amount of the Card Series Notes, each as of the close of business on the last day of the preceding Monthly Period. Any such allocation (or portion thereof) that would otherwise have reduced the Nominal Liquidation Amount of a Tranche of Notes below
zero will be reallocated to the remaining Tranches of Outstanding Notes in the Card Series as set forth in this clause (a), but in no event will the Nominal Liquidation Amount (after giving effect to this clause (a)) of any Tranche of
Notes be reduced below zero. 
 (b) Reallocation from Class A Notes. (i) Immediately after giving effect to clause (a)
above, the amount allocated to each Tranche of Class A Notes pursuant to clause (a) above, subject to the limitation in clause (e) below, will be reallocated to the Class B Notes, in an amount (not less than zero) not to exceed:

 (x) the Class A Available Subordinated Amount of Class B Notes for such Tranche of Class A Notes as of the
close of business on the last day of the preceding Monthly Period, minus 
 (y) the product of (A) the aggregate
amount allocated to the Class B Notes pursuant to clause (a) above and (B) a fraction, the numerator of which is the amount determined pursuant to clause (b)(i)(x) above and the denominator of which is the aggregate Nominal
Liquidation Amount of all the Class B Notes in the Card Series as of the close of business of the last day of the preceding Monthly Period. 

(ii) The amount allocated to each Tranche of Class A Notes pursuant to clause (a) above and not reallocated to the Class B
Notes due to the limitations set forth in clause (b)(i) above and clause (e) below, subject to the limitation in clause (e) below, will be reallocated to the Class C Notes, in an amount (not less than zero) not to exceed: 

(x) the Class A Available Subordinated Amount of Class C Notes for such Tranche of Class A Notes as of the close
of business on the last day of the preceding Monthly Period, minus 
 (y) the product of (A) the aggregate amount
allocated to the Class C Notes pursuant to clause (a) above and (B) a fraction, the numerator of which is the amount determined pursuant to clause (b)(ii)(x) above and the denominator of which is the aggregate Nominal Liquidation
Amount of all the Class C Notes in the Card Series as of the close of business on the last day of the preceding Monthly Period. 

  
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 (iii) The amount allocated to each Tranche of Class A Notes pursuant to clause (a)
above and not reallocated to the Class B Notes or the Class C Notes due to the limitations set forth in clauses (b)(i) and (b)(ii) above and clause (e) below, subject to the limitation in clause (e) below, will be reallocated to
the Class D Notes, in an amount (not less then zero) not to exceed: 
 (x) the Class A Available Subordinated
Amount of Class D Notes for such Tranche of Class A Notes as of the close of business on the last day of the preceding Monthly Period, minus 

(y) the product of (A) the aggregate amount allocated to the Class D Notes pursuant to clause (a) above and
(B) a fraction, the numerator of which is the amount determined pursuant to clause (b)(iii)(x) above and the denominator of which is the Nominal Liquidation Amount of all the Class D Notes in the Card Series as of the close of
business on the last day of the preceding Monthly Period. 
 (c) Reallocation from Class B Notes. (i) Immediately after
giving effect to clause (b) above, the amount allocated to each Tranche of Class B Notes pursuant to clause (a) above or reallocated to such Tranche of Class B Notes pursuant to clause (b)(i) above, subject to the limitation
in clause (e) below, will be reallocated to the Class C Notes, in an amount (not less than zero) not to exceed: 

(x) the Class B Available Subordinated Amount of Class C Notes for such Tranche of Class B Notes as of the close
of business on the last day of the preceding Monthly Period, minus 
 (y) the sum of: 

(A) the product of (1) the aggregate amount allocated to the Class C Notes pursuant to clause (a) above and
(2) a fraction, the numerator of which is the amount determined pursuant to clause (c)(i)(x) above and the denominator of which is the Nominal Liquidation Amount of all the Class C Notes in the Card Series as of the close of business
on the last day of the preceding Monthly Period, plus 
 (B) the product of (1) the aggregate amount reallocated
to the Class C Notes pursuant to clause (b)(ii) above and (B) a fraction, the numerator of which is the amount determined pursuant to clause (c)(i)(x) above and the denominator of which is the aggregate Class B Available
Subordinated Amount of Class C Notes for all Class B Notes in the Card Series as of the close of business on the last day of the preceding Monthly Period. 

(ii) The amount allocated to each Tranche of Class B Notes pursuant to clause (a) above or reallocated to such Tranche of
Class B Notes pursuant to clause (b)(i) above and not 

  
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reallocated to the Class C Notes due to the limitations set forth in clause (c)(i) above and clause (e) below, subject to the limitation in clause (e) below, will be
reallocated to the Class D Notes, in an amount (not less than zero) not to exceed: 
 (x) the Class B Available
Subordinated Amount of Class D Notes for such Tranche of Class B Notes as of the close of business on the last day of the preceding Monthly Period, minus 

(y) the sum of: 

(A) the product of (1) the aggregate amount allocated to the Class D Notes pursuant to clause (a) above and
(2) a fraction, the numerator of which is the amount determined pursuant to clause (c)(ii)(x) above and the denominator of which is the Nominal Liquidation Amount of all the Class D Notes in the Card Series as of the close of business
on the last day of the preceding Monthly Period, plus 
 (B) the product of (1) the aggregate amount reallocated
to the Class D Notes pursuant to clause (b)(iii) above and (B) a fraction, the numerator of which is the amount determined pursuant to clause (c)(ii)(x) above and the denominator of which is the aggregate Class B Available
Subordinated Amount of Class D Notes for all Class B Notes in the Card Series as of the close of business on the last day of the preceding Monthly Period. 

(d) Reallocation from Class C Notes. Immediately after giving effect to clause (c) above, the amount allocated to each
Tranche of Class C Notes pursuant to clause (a) above or reallocated to such Tranche of Class C Notes pursuant to clause (b)(ii) or (c)(i) above, subject to the limitation in clause (e) below, will be reallocated to the
Class D Notes, in an amount (not less than zero) not to exceed: 
 (x) the Class C Available Subordinated Amount of
Class D Notes for such Tranche of Class C Notes as of the close of business on the last day of the preceding Monthly Period, minus 

(y) the sum of: 

(A) the product of (1) the aggregate amount allocated to the Class D Notes pursuant to clause (a) above and
(2) a fraction, the numerator of which is the amount determined pursuant to clause (d)(x) above and the denominator of which is the Nominal Liquidation Amount of all the Class D Notes in the Card Series as of the close of business on
the last day of the preceding Monthly Period, plus 
 (B) the product of (1) the aggregate amount reallocated to
the Class D Notes pursuant to clauses (b)(iii) and (c)(ii) above and (2) a fraction, the numerator of which is the amount determined pursuant to clause (d)(x) above and 

  
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the denominator of which is the aggregate Class C Available Subordinated Amount of Class D Notes for all Class C Notes in the Card Series as of the close of business on the last
day of the preceding Monthly Period. 
 (e) (i) The amount reallocated to the Class B Notes pursuant to clause (b)(i) above will
be applied to each Tranche of Class B Notes outstanding as of the last day of the preceding Monthly Period pro rata based on the ratio of the Nominal Liquidation Amount of such Tranche of Class B Notes to the Nominal Liquidation
Amount of all the Class B Notes in the Card Series, each as of the close of business on the last day of the preceding Monthly Period. Any such reallocation (or portion thereof) that would otherwise have reduced the Nominal Liquidation Amount of
a Tranche of Class B Notes below zero will be reallocated to the remaining Tranches of Class B Notes as set forth in this clause (e)(i), but in no event will the Nominal Liquidation Amount (after giving effect to this
clause (e)(i)) of any Tranche of Class B Notes be reduced below zero. 
 (ii) The amount reallocated to the Class C Notes
pursuant to clause (b)(ii) or (c)(i) above, in each case, will be applied to each Tranche of Class C Notes outstanding as of the last day of the preceding Monthly Period pro rata based on the ratio of the Nominal Liquidation Amount
of such Tranche of Class C Notes to the Nominal Liquidation Amount of all the Class C Notes in the Card Series, in each case, as of the close of business on the last day of the preceding Monthly Period. Any such reallocation (or portion
thereof) that would otherwise have reduced the Nominal Liquidation Amount of a Tranche of Class C Notes below zero will be reallocated to the remaining Tranches of Class C Notes as set forth in this clause (e)(ii), but in no event
will the Nominal Liquidation Amount (after giving effect to this clause (e)(ii)) of any Tranche of Class C Notes be reduced below zero. 

(iii) The amount reallocated to the Class D Notes pursuant to clause (b)(iii), (c)(ii) or (d) above, in each case, will be
applied to each Tranche of Class D Notes outstanding as of the last day of the preceding Monthly Period pro rata based on the ratio of the Nominal Liquidation Amount of such Tranche of Class D Notes to the Nominal Liquidation Amount
of all the Class D Notes in the Card Series, in each case, as of the close of business on the last day of the preceding Monthly Period. Any such reallocation (or portion thereof) that would otherwise have reduced the Nominal Liquidation Amount
of a Tranche of Class D Notes below zero will be reallocated to the remaining Tranches of Class D Notes as set forth in this clause (e)(iii), but in no event will the Nominal Liquidation Amount (after giving effect to this
clause (e)(iii)) of any Tranche of Class D Notes be reduced below zero. 
 Section 3.06. Allocations of Reimbursements of
Nominal Liquidation Amount Deficits. If, as of any Distribution Date, there are Card Series Finance Charge Amounts available pursuant to Section 3.01(g) to reimburse any Nominal Liquidation Amount Deficits as of such Distribution
Date, such funds will be allocated to each Tranche of Notes as follows: 
 (a) first, to each Tranche of Class A Notes pro rata
based on the ratio of the Nominal Liquidation Amount Deficit thereof to the aggregate Nominal Liquidation Amount Deficits of all Tranches of Class A Notes, but in no event will the Nominal Liquidation Amount of such a Tranche of Notes be
increased above the Adjusted Outstanding Dollar Principal Amount of such Tranche; 

  
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 (b) second, to each Tranche of Class B Notes pro rata based on the ratio of the
Nominal Liquidation Amount Deficit thereof to the aggregate Nominal Liquidation Amount Deficit of all Tranches of Class B Notes, but in no event will the Nominal Liquidation Amount of such a Tranche of Notes be increased above the Adjusted
Outstanding Dollar Principal Amount of such Tranche; 
 (c) third, to each Tranche of Class C Notes pro rata based on the ratio
of the Nominal Liquidation Amount Deficit thereof to the aggregate Nominal Liquidation Amount Deficit of all Tranches of Class C Notes, but in no event will the Nominal Liquidation Amount of such a Tranche of Notes be increased above the
Adjusted Outstanding Dollar Principal Amount of such Tranche; and 
 (d) fourth, to each Tranche of Class D Notes pro rata based
on the ratio of the Nominal Liquidation Amount Deficit thereof to the aggregate Nominal Liquidation Amount Deficit of all Tranches of Class D Notes, but in no event will the Nominal Liquidation Amount of such a Tranche of Notes be increased
above the Adjusted Outstanding Dollar Principal Amount of such Tranche. 
 Section 3.07. Application of Card Series Principal
Amounts. On each Distribution Date, the Indenture Trustee will apply Card Series Principal Amounts as follows: 
 (a) Class A
Interest Funding Account Shortfalls. First, with respect to each Monthly Period, if after giving effect to deposits to be made with respect to such Monthly Period pursuant to Section 3.01(a) any Tranche of Class A Notes has not
received the full amount targeted to be deposited pursuant to Section 3.02 with respect to that Monthly Period, then Card Series Principal Amounts (in an amount not to exceed the sum of the Class B Principal Allocation, the
Class C Principal Allocation and the Class D Principal Allocation, each for such Monthly Period) will be allocated to the Interest Funding sub-Account of each such Tranche of Class A Notes
pro rata based on, in the case of each such Tranche of Class A Notes, the lesser of the following amounts: 
 (i)
the amount of the deficiency in the targeted amount to be deposited into the Interest Funding sub-Account of such Tranche of Class A Notes; and 

(ii) an amount equal to the Class A Available Subordinated Amount of Subordinated Notes for such Tranche of Class A
Notes (determined after giving effect to Section 3.05, but prior to giving effect to this Section 3.07). 
 (b)
Class B Interest Funding Account Shortfalls. Second, with respect to each Monthly Period, if after giving effect to deposits to be made with respect to such Monthly Period pursuant to Section 3.01(b) any Tranche of
Class B Notes has not received the full amount targeted to be deposited pursuant to Section 3.02 with respect to that Monthly Period, then Card Series Principal Amounts (in an amount, not less than zero, not to exceed the sum of the
Class B 

  
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Principal Allocation, the Class C Principal Allocation and the Class D Principal Allocation, each for such Monthly Period minus the greater of (x) the Class B
Principal Allocation for such Monthly Period and (y) the aggregate amount of Card Series Principal Amounts applied pursuant to clause (a) above) will be allocated to the Interest Funding sub-Account
of each such Tranche of Class B Notes pro rata based on, in the case of each such Tranche of Class B Notes, the lesser of the following amounts: 

(i) the amount of the deficiency in the targeted amount to be deposited into the Interest Funding sub-Account of such Tranche of Class B Notes; and 
 (ii) an amount equal to the
Class B Available Subordinated Amount of Subordinated Notes for such Tranche of Class B Notes (determined after giving effect to Sections 3.05 and 3.08(a) through (c)). 

(c) Class C Interest Funding Account Shortfalls. Third, with respect to each Monthly Period, if after giving effect to deposits to
be made with respect to such Monthly Period pursuant to Section 3.01(c) any Tranche of Class C Notes has not received the full amount targeted to be deposited pursuant to Section 3.02 with respect to that Monthly Period,
then Card Series Principal Amounts (in an amount, not less than zero, not to exceed the sum of the Class B Principal Allocation, the Class C Principal Allocation and the Class D Principal Allocation, each for such Monthly Period
minus the greater of (x) the sum of the Class B Principal Allocation and the Class C Principal Allocation, each for such Monthly Period and (y) the aggregate amount of Card Series Principal Amounts applied pursuant to
clauses (a) and (b) above) will be allocated to the Interest Funding sub-Account of each such Tranche of Class C Notes pro rata based on, in the case of each such Tranche of Class C
Notes, the lesser of the following amounts: 
 (i) the amount of the deficiency in the targeted amount to be deposited into
the Interest Funding sub-Account of such Tranche of Class C Notes; and 
 (ii)
an amount equal to the Class C Available Subordinated Amount of Class D Notes for such Tranche of Class C Notes (determined after giving effect to Sections 3.05 and 3.08(a) through (e)). 

(d) Class A Servicing Fee Shortfalls. Fourth, with respect to each Monthly Period, if there is a Servicing Fee Shortfall allocated
to any Tranche of Class A Notes pursuant to Section 3.09, then Card Series Principal Amounts (in an amount, not less than zero, not to exceed the sum of the Class B Principal Allocation, the Class C Principal Allocation
and the Class D Principal Allocation, each for such Monthly Period minus the aggregate amount of Card Series Principal Amounts reallocated pursuant to clauses (a) through (c) above) will be paid to the Servicer in an amount
equal to, and allocated to each such Tranche of Class A Notes pro rata based on, in the case of each such Tranche of Class A Notes, the lesser of the following amounts: 

(i) the amount of the Servicing Fee Shortfall allocated to such Tranche of Class A Notes; and 

(ii) an amount equal to the Class A Available Subordinated Amount of Subordinated Notes for such Tranche of Class A
Notes (determined after giving effect to Sections 3.05 and 3.08(a) through (f)). 

  
 -35- 

 (e) Class B Servicing Fee Shortfalls. Fifth, with respect to each Monthly Period, if
there is a Servicing Fee Shortfall allocated to any Tranche of Class B Notes pursuant to Section 3.09, then Card Series Principal Amounts (in an amount, not less than zero, not to exceed the sum of the Class B Principal
Allocation, the Class C Principal Allocation and the Class D Principal Allocation, each for such Monthly Period minus the greater of (x) the Class B Principal Allocation for such Monthly Period and (y) the aggregate
amount of Card Series Principal Amounts reallocated pursuant to clauses (a) through (d) above) will be paid to the Servicer in an amount equal to, and allocated to each such Tranche of Class B Notes pro rata based on, in the
case of each such Tranche of Class B Notes, the lesser of the following amounts: 
 (i) the amount of the remaining
Servicing Fee Shortfall allocated to such Tranche of Class B Notes; and 
 (ii) an amount equal to the Class B
Available Subordinated Amount of Class C Notes for such Tranche of Class B Notes (determined after giving effect to Sections 3.05 and 3.08(a) through (i)). 

(f) Class C Servicing Fee Shortfalls. Sixth, with respect to each Monthly Period, if there is a Servicing Fee Shortfall allocated
to any Tranche of Class C Notes pursuant to Section 3.09, then Card Series Principal Amounts (in an amount, not less than zero, not to exceed the sum of the Class B Principal Allocation, the Class C Principal Allocation
and the Class D Principal Allocation, each for such Monthly Period minus the greater of (x) the sum of the Class B Principal Allocation and the Class C Principal Allocation, each for such Monthly Period and (y) the
aggregate amount of Card Series Principal Amounts reallocated pursuant to clauses (a) through (e) above) will be paid to the Servicer in an amount equal to, and allocated to each such Tranche of Class C Notes pro rata based on,
in the case of each such Tranche of Class C Notes, the lesser of the following amounts: 
 (i) the amount of the
Servicing Fee Shortfall allocated to such Tranche of Class C Notes; and 
 (ii) an amount equal to the Class C
Available Subordinated Amount of Class D Notes for such Tranche of Class C Notes (determined after giving effect to Sections 3.05 and 3.08(a) through (k)). 

(g) Principal Funding Account. Seventh, to make the targeted deposits to the Principal Funding Account pursuant to
Section 3.10; 
 (h) Shared Excess Principal Amounts. Eighth, to be treated as Shared Excess Principal Amounts for
application in accordance with Section 3.28; and 

  
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 (i) Transferor. Ninth, to the holder of the Asset Pool 1 Transferor Interest or,
provided that the conditions set forth in Section 10.02 of the Trust Agreement with respect to transfers of a portion of the Beneficial Interest are met, to the designee of the holder of the Asset Pool 1 Transferor Interest as
though such designee were a transferee of such portion. 
 Section 3.08. Allocation of Reductions of Nominal Liquidation Amount of
Subordinated Notes from Reallocations of Card Series Principal Amounts to Cover Interest Funding Account Shortfalls or Servicing Fee Shortfalls. On each Distribution Date when Card Series Principal Amounts are deposited in the Interest Funding sub-Account for any Tranche of Notes or paid to the Servicer pursuant to Section 3.07, the Nominal Liquidation Amount of Subordinated Notes will be reduced on that date as set forth in this Section. In the case
of each Tranche of Notes, the Nominal Liquidation Amount of each such Tranche of Notes will be reduced by an amount equal to the amounts of such deposits or payments which are allocated or reallocated to that Tranche of Notes, less the amount
of Card Series Principal Amounts that are reallocated from that Tranche of Notes to other Notes. 
 (a) Class A
Interest Funding Account Shortfalls. (i) Immediately after giving effect to Section 3.07(a), the amount of Card Series Principal Amount applied pursuant to Section 3.07(a), subject to the limitation in
clause (m) below, will be allocated to the Class B Notes, in an amount not to exceed the Class A Available Subordinated Amount of Class B Notes for such Tranche of Class A Notes as of the close of business on the last day of
the preceding Monthly Period. 
 (ii) The amount of Card Series Principal Amount applied pursuant to
Section 3.07(a), and not reallocated to the Class B Notes due to the limitations set forth in clause (a)(i) above and clause (m) below, subject to the limitation in clause (m) below, will be allocated to the
Class C Notes, in an amount not to exceed the Class A Available Subordinated Amount of Class C Notes for such Tranche of Class A Notes as of the close of business on the last day of the preceding Monthly Period. 

(iii) The amount of Card Series Principal Amount applied pursuant to Section 3.07(a), and not reallocated to the
Class B Notes or Class C Notes due to the limitations set forth in clauses(a)(i) and (a)(ii) above and clause (m) below, subject to the limitation in clause (m) below, will be allocated to the Class D Notes, in an amount not
to exceed the Class A Available Subordinated Amount of Class D Notes for such Tranche of Class A Notes as of the close of business on the last day of the preceding Monthly Period. 

(b) (i) Immediately after giving effect to clause (a) above, the amount allocated to the Class B Notes pursuant to
clause (a)(i), subject to the limitation in clause (m) below, will be reallocated to the Class C Notes, in an amount not to exceed the Class B Available Subordinated Amount of Class C Notes for such Tranche of Class B
Notes after giving effect to clause (a) above. 
 (ii) The amount allocated to the Class B Notes pursuant to
clause (a)(i) and not reallocated to the Class C Notes due to the limitations set forth in clause (b)(i) above 

  
 -37- 

 
and clause (m) below, subject to the limitation in clause (m) below, will be reallocated to the Class D Notes, in an amount not to exceed the Class B Available Subordinated
Amount of Class D Notes for such Tranche of Class B Notes after giving effect to clause (a) above. 
 (c)
Immediately after giving effect to clause (b) above, the amount allocated to the Class C Notes pursuant to clause (a)(iii) plus the amount reallocated to the Class C Notes pursuant to clause (b)(i) above, subject to the
limitation in clause (m) below, will be reallocated to the Class D Notes, in an amount not to exceed the Class C Available Subordinated Amount of Class D Notes for such Tranche of Class C Notes after giving effect to clauses
(a) and (b) above. 
 (d) Class B Interest Funding Account Shortfalls. (i) Immediately after
giving effect to Section 3.07(b), the amount of Card Series Principal Amount applied pursuant to Section 3.07(b), subject to the limitation in clause (m) below, will be allocated to the Class C Notes, in an amount
not to exceed the Class B Available Subordinated Amount of Class C Notes for such Tranche of Class B Notes after giving effect to clauses (a) through (c) above. 

(ii) The amount of Card Series Principal Amount applied pursuant to Section 3.07(b), and not reallocated to the
Class C Notes due to the limitations set forth in clause (d)(i) above and clause (m) below, subject to the limitation in clause (m) below, will be reallocated to the Class D Notes, in an amount not to exceed the Class B
Available Subordinated Amount of Class D Notes for such Tranche of Class B Notes after giving effect to clauses (a) through (c) above. 

(e) Immediately after giving effect to clause (d) above, the amount allocated to the Class C Notes pursuant to
clause (d)(i), subject to the limitation in clause (m) below, will be reallocated to the Class D Notes, in an amount not to exceed the Class C Available Subordinated Amount of Class D Notes for such Tranche of Class C
Notes after giving effect to clauses (a) through (d) above. 
 (f) Class C Interest Funding Account
Shortfalls. Immediately after giving effect to Section 3.07(c), the amount of Card Series Principal Amount applied pursuant to Section 3.07(c), subject to the limitation in clause (m) below, will be allocated to the
Class D Notes, in an amount not to exceed the Class C Available Subordinated Amount of Class D Notes for such Tranche of Class C Notes after giving effect to clauses (a) through (e) above. 

(g) Class A Servicing Fee Shortfalls. (i) Immediately after giving effect to Section 3.07(d), the
amount of Card Series Principal Amount applied pursuant to Section 3.07(d), subject to the limitation in clause (m) below, will be allocated to the Class B Notes, in an amount not to exceed the Class A Available
Subordinated Amount of Class B Notes for such Tranche of Class A Notes after giving effect to clauses (a) through (f) above. 

  
 -38- 

 (ii) The amount of Card Series Principal Amount applied pursuant to
Section 3.07(d), and not reallocated to the Class B Notes due to the limitations set forth in clause (g)(i) above and clause (m) below, subject to the limitation in clause (m) below, will be allocated to the
Class C Notes, in an amount not to exceed the Class A Available Subordinated Amount of Class C Notes for such Tranche of Class A Notes after giving effect to clauses (a) through (f) above. 

(iii) The amount of Card Series Principal Amount applied pursuant to Section 3.07(d), and not reallocated to the
Class B Notes or Class C Notes due to the limitations set forth in clauses(g)(i) and (g)(ii) above and clause (m) below, subject to the limitation in clause (m) below, will be allocated to the Class D Notes, in an amount not
to exceed the Class A Available Subordinated Amount of Class D Notes for such Tranche of Class A Notes after giving effect to clauses (a) through (f) above. 

(h) (i) Immediately after giving effect to clause (g) above, the amount reallocated to the Class B Notes pursuant to
clause (g)(i), subject to the limitation in clause (m) below, will be reallocated to the Class C Notes, in an amount not to exceed the Class B Available Subordinated Amount of Class C Notes for such Tranche of Class B
Notes after giving effect to clauses (a) through (g) above. 
 (ii) The amount allocated to the Class B Notes
pursuant to clause (g)(i) and not reallocated to the Class C Notes due to the limitations set forth in clause (h)(i) above and clause (m) below, subject to the limitation in clause (m) below, will be reallocated to the
Class D Notes, in an amount not to exceed the Class B Available Subordinated Amount of Class D Notes for such Tranche of Class B Notes after giving effect to clauses (a) through (g) above. 

(i) Immediately after giving effect to clause (h) above, the amount allocated to the Class C Notes pursuant to
clause (g)(iii) plus the amount reallocated to the Class C Notes pursuant to clause (h)(i) above, subject to the limitation in clause (m) below, will be reallocated to the Class D Notes, in an amount not to exceed the
Class C Available Subordinated Amount of Class D Notes for such Tranche of Class C Notes after giving effect to clauses (a) through (h) above. 

(j) Class B Servicing Fee Shortfalls. (i) Immediately after giving effect to Section 3.07(e), the
amount of Card Series Principal Amount applied pursuant to Section 3.07(e), subject to the limitation in clause (m) below, will be allocated to the Class C Notes, in an amount not to exceed the Class B Available
Subordinated Amount of Class C Notes for such Tranche of Class B Notes after giving effect to clauses (a) through (i) above. 

(ii) The amount of Card Series Principal Amount applied pursuant to Section 3.07(e), and not reallocated to the
Class C Notes due to the limitations set forth in clause (j)(i) above and clause (m) below, subject to the limitation in clause (m) below, will be allocated to the Class D Notes, in an amount not to exceed the Class B
Available Subordinated Amount of Class D Notes for such Tranche of Class B Notes after giving effect to clauses (a) through (i) above. 

  
 -39- 

 (k) Immediately after giving effect to clause (j) above, the amount
reallocated to the Class C Notes pursuant to clause (j)(i), subject to the limitation in clause (m) below, will be reallocated to the Class D Notes, in an amount not to exceed the Class C Available Subordinated Amount of
Class D Notes for such Tranche of Class C Notes after giving effect to clauses (a) through (j) above. 

(l) Class C Servicing Fee Shortfalls. Immediately after giving effect to Section 3.07(f), the amount of
Card Series Principal Amount applied pursuant to Section 3.07(f), subject to the limitation in clause (m) below, will be allocated to the Class D Notes, in an amount not to exceed the Class C Available Subordinated Amount
of Class D Notes for such Tranche of Class C Notes after giving effect to clauses (a) through (k) above. 

(m) General. (i) The amount allocated to the Class B Notes pursuant to clause (a)(i) or (g)(i) above will
be applied to each Tranche of Class B Notes pro rata based on the ratio of the Nominal Liquidation Amount of such Tranche of Class B Notes to the Nominal Liquidation Amount of all the Class B Notes in the Card Series, with
respect to clause (a)(i), after giving effect to Section 3.05, and with respect to clause (g)(i), after giving effect to Section 3.05 and clauses (a) through (f) above. Any such allocation that would
otherwise have reduced the Nominal Liquidation Amount of a Tranche of Class B Notes below zero will be reallocated to the remaining Tranches of Class B Notes as set forth in this clause (m)(i), but in no event will the Nominal
Liquidation Amount (after giving effect to this clause (m)(i)) of any Tranche of Class B Notes be reduced below zero. 

(ii) The amount allocated or reallocated to the Class C Notes pursuant to clause (a)(ii), (b)(i), (d)(i), (g)(ii),
(h)(i) or (j)(i) above will be applied to each Tranche of Class C Notes pro rata based on the ratio of the Nominal Liquidation Amount of such Tranche of Class C Notes to the Nominal Liquidation Amount of all the Class C Notes
in the Card Series, with respect to clauses (a)(ii) and (b)(i), after giving effect to Section 3.05, with respect to clause (d)(i), after giving effect to Section 3.05 and clauses (a) through (c) above, with
respect to clauses (g)(ii) and (h)(i), after giving effect to Section 3.05 and clauses (a) through (f) above, and with respect to clause (j)(i), after giving effect to Section 3.05 and clauses (a) through
(i) above. Any such allocation that would otherwise have reduced the Nominal Liquidation Amount of a Tranche of Class C Notes below zero will be reallocated to the remaining Tranches of Class C Notes as set forth in this
clause (m)(ii), but in no event will the Nominal Liquidation Amount (after giving effect to this clause (m)(ii)) of any Tranche of Class C Notes be reduced below zero. 

(iii) The amount allocated or reallocated to the Class D Notes pursuant to clause (a)(iii), (b)(ii), (c), (d)(ii),
(e), (f), (g)(iii), (h)(ii), (i), (j)(ii), (k) or (l) above will be applied to each Tranche of Class D Notes pro rata based on the ratio of the Nominal 

  
 -40- 

 
Liquidation Amount of such Tranche of Class D Notes to the Nominal Liquidation Amount of all the Class D Notes in the Card Series, with respect to clauses (a)(iii), (b)(ii) and (c),
after giving effect to Section 3.05, with respect to clauses (d)(ii) and (e), after giving effect to Section 3.05 and clauses (a) through (c) above, with respect to clause (f), after giving effect to
Section 3.05 and clauses (a) through (e) above, with respect to clauses (g)(iii), (h)(ii) and (i), after giving effect to Section 3.05 and clauses (a) through (f) above, with respect to clauses (j)(ii) and
(k), after giving effect to Section 3.05 and clauses (a) through (i) above, and with respect to clause (l), after giving effect to clauses (a) through (k) above. Any such allocation that would otherwise have
reduced the Nominal Liquidation Amount of a Tranche of Class D Notes below zero will be reallocated to the remaining Tranches of Class D Notes as set forth in this clause (m)(iii), but in no event will the Nominal Liquidation Amount
(after giving effect to this clause (m)(iii)) of any Tranche of Class D Notes be reduced below zero. 
 Section 3.09.
Allocation of Servicing Fee Shortfalls. On each Distribution Date, if after giving effect to payments to be made with respect to the related Monthly Period pursuant to Section 3.01(d), the Servicer has not received the full amount
to be paid pursuant to Section 3.01(d), the aggregate amount of such shortfall will be allocated to each Tranche of Outstanding Notes in the Card Series pro rata based on the ratio of the Nominal Liquidation Amount of such Tranche
of Notes to the Nominal Liquidation Amount of the Card Series Notes, each as of the close of business on the last day of the preceding Monthly Period. 

Section 3.10. Targeted Deposits of Card Series Principal Amounts to the Principal Funding Account. With respect to any Monthly
Period, the amount targeted to be deposited into the Principal Funding sub-Account for any Tranche of Notes will be the sum of (i) the amount determined pursuant to clause (a), (b), (c), (d) or
(e) below with respect to such Tranche for such Monthly Period, as applicable, or if more than one such clause is applicable, the highest amount determined pursuant to any one of such clauses, and (ii) any deposit targeted pursuant to
clause (i) with respect to such Tranche for any prior Monthly Period but for which the full targeted deposit was not made, but in no case more than the Nominal Liquidation Amount of such Tranche (computed immediately before giving effect to
such deposit but after giving effect to any Investor Charge-Offs and any reallocations of Card Series Principal Amounts on such date). 

(a) Principal Payment Date. With respect to the Monthly Period immediately preceding each Principal Payment Date for a Tranche of
Notes, the deposit targeted for that Tranche of Notes, unless otherwise specified in the related Terms Document, is equal to the Nominal Liquidation Amount of that Tranche of Notes as of the close of business on the last day of the Monthly Period
preceding such Monthly Period (determined after giving effect to any Investor Charge-Offs and any reallocations, payments or deposits of Card Series Principal Amounts occurring on the following Distribution
Date). 
 (b) Budgeted Deposits. 

(i) Subject to Section 3.10(d), with respect to each Monthly Period, beginning with the Accumulation Commencement
Date, the deposit targeted to be made into the 

  
 -41- 

 
Principal Funding sub-Account for that Tranche will be the Accumulation Period Amount for that Tranche specified in the applicable Terms Document, or if no
such amount is specified, beginning with the twelfth Monthly Period before the Monthly Period in which the Expected Principal Payment Date of that Tranche of Notes occurs, an amount equal to one-twelfth of the
expected Outstanding Dollar Principal Amount of such Tranche of Notes as of such Expected Principal Payment Date. 
 (ii)
Notwithstanding anything to the contrary in clause (i), on or before the Distribution Date immediately preceding the first Business Day of the month that is twelve (12) months prior to the Expected Principal Payment Date of any Tranche of
Notes, and each determination date thereafter until the Accumulation Commencement Date, the Issuer will determine the “Accumulation Period Length” which will equal the number of whole months such that the Accumulation Period Amount
for such Tranche for the Monthly Period immediately preceding the Expected Principal Payment Date, when aggregated with the Accumulation Period Amounts for such Tranche for each preceding Monthly Period, will equal or exceed the Initial Dollar
Principal Amount of such Tranche; provided, however, that the Accumulation Period Length will not be determined to be less than one month; provided further, however, that the determination of the Accumulation
Period Length may be changed at any time if the Note Rating Agencies provide prior written confirmation that a Ratings Effect will not occur with respect to such change. 

(c) Prefunding of the Principal Funding Account of Senior Classes. If the Issuer determines as of the end of the preceding Monthly
Period with respect to any Class A Notes, Class B Notes or Class C Notes that, after giving effect to all allocations and payments with respect to that Monthly Period, the Prefunding Target Amount of that Tranche will be greater than
zero, the targeted deposit to the Principal Funding sub-Account for the affected Tranches will be the Prefunding Target Amounts for such Tranche. 

(d) Event of Default, Early Redemption Event, Other Optional or Mandatory Redemption. If any Tranche of Notes has been accelerated
during a Monthly Period after the occurrence of an Event of Default, or if an Early Redemption Event with respect to any Tranche of Notes occurs during such Monthly Period, or with respect to the Monthly Period immediately preceding any other date
fixed for any other optional or mandatory redemption of any Tranche of Notes, the deposit targeted for that Tranche of Notes with respect to that Monthly Period and each following Monthly Period is equal to Nominal Liquidation Amount of that Tranche
of Notes as of the close of business on the last day of the preceding Monthly Period (after taking into account any reallocations, payments or deposits occurring on the following Distribution Date). 

(e) Amounts Owed to Derivative Counterparties. If a Tranche of Outstanding Dollar Notes or foreign currency Notes that has a Performing
or non-Performing Derivative Agreement for principal provides for a payment to the applicable Derivative Counterparty, the deposit targeted for that Tranche of Notes on each Distribution Date with respect to
any payment to the Derivative Counterparty will be specified in the related Terms Document. 

  
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 Section 3.11. Allocations among Principal Funding
sub-Accounts. Subject to the restrictions of Section 3.15, the aggregate amount of the deposits to be made to the Principal Funding Account for each Tranche of Notes pursuant to
Section 3.10 for each Monthly Period will be allocated, and a portion deposited in the Principal Funding sub-Account for each Tranche of Notes, as follows: 

(a) Card Series Principal Amounts Equal to Targeted Amount. Subject to clause (c) below, if Card Series Principal Amounts
remaining after giving effect to Sections 3.07(a) through (f) are equal to the aggregate amount of Card Series Principal Amounts targeted to be deposited into the Principal Funding Account for all Tranches of Notes pursuant
to Section 3.10, then that targeted amount is deposited in the Principal Funding sub-Account established for each Tranche. 

(b) Card Series Principal Amounts Are Less Than Targeted Amounts. Subject to clause (c) below, if Card Series Principal Amounts
remaining after giving effect to Sections 3.07(a) through (f) are less than the aggregate amount targeted to be deposited into the Principal Funding Account for all Tranches of Notes pursuant to Section 3.10, then
the amount available will be deposited in the Principal Funding sub-Account established for each Tranche in the following priority: 

(i) first, the amount available will be allocated to the Class A Notes pro rata based on the ratio of (A) the
amount targeted to be deposited into the Principal Funding sub-Account for such Tranche of Class A Notes pursuant to Section 3.10, to (B) the aggregate amount targeted to be deposited
into the Principal Funding sub-Account for all Tranches of Class A Notes pursuant to Section 3.10; 

(ii) second, the amount available after the application in clause (i) above will be allocated to the Class B Notes,
pro rata based on the ratio of (A) the amount targeted to be deposited into the Principal Funding sub-Account for such Tranche of Class B Notes pursuant to Section 3.10, to
(B) the aggregate amount targeted to be deposited into the Principal Funding sub-Account for all Tranches of Class B Notes pursuant to Section 3.10; 

(iii) third, the amount available after the applications in clauses (i) and (ii) above will be allocated to the
Class C Notes, pro rata based on the ratio of (A) the amount targeted to be deposited into the Principal Funding sub-Account for such Tranche of Class C Notes pursuant to
Section 3.10, to (B) the aggregate amount targeted to be deposited into the Principal Funding sub-Account for all Tranches of Class C Notes pursuant to Section 3.10; and 

(iv) fourth, the amount available after the applications in clauses (i) through (iii) above will be allocated to the
Class D Notes, pro rata based on the ratio of (A) the amount targeted to be deposited into the Principal Funding sub-Account for such Tranche of Class D Notes pursuant to
Section 3.10, to (B) the aggregate amount targeted to be deposited into the Principal Funding sub-Account for all Tranches of Class D Notes pursuant to Section 3.10. 

  
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 (c) Reallocation of Deposits to the Principal Funding
sub-Account of Subordinated Notes. If the restrictions of Section 3.15(a) prevent the deposit of Card Series Principal Amounts into the Principal Funding
sub-Account of any Subordinated Note, the aggregate amount of Card Series Principal Amounts available to make the targeted deposit for such Tranche of Subordinated Notes will be allocated first, to each
Tranche of Class A Notes pro rata based on the ratio of (A) the Required Subordinated Amount of Subordinated Notes for such Tranche of Class A Notes to (B) the Required Subordinated Amount of Subordinated Notes for
all Class A Notes in the Card Series, second, if applicable, to each Tranche of Class B Notes pro rata based on the ratio of (A) the Required Subordinated Amount of Subordinated Notes for such Tranche of Class B
Notes to (B) the Required Subordinated Amount of Subordinated Notes for all Class B Notes in the Card Series and, third, if applicable, to each Tranche of Class C Notes pro rata based on the ratio of (A) the
Required Subordinated Amount of Class D Notes for such Tranche of Class C Notes to (B) the Required Subordinated Amount of Class D Notes for all Class C Notes in the Card Series. 

Section 3.12. Amounts to be Treated as Card Series Principal Amounts; Payments Received from Derivative Counterparties for Principal;
Other Deposits to Principal Funding sub-Accounts. The following deposits and payments will be made on the following dates: 

(a) Amounts to be Treated as Card Series Principal Amounts. In addition to Asset Pool 1 Principal Amounts allocated to the Card
Series pursuant to Section 3.3 of the Asset Pool 1 Supplement, the following amounts shall be treated as Card Series Principal Amounts for application in accordance with this Article III for any Monthly Period: 

(i) Reallocated Card Series Finance Charge Amounts. Card Series Principal Amounts will include Card Series Finance
Charge Amounts reallocated to be treated as Card Series Principal Amounts pursuant to Section 3.01(f) or 3.01(g). 

(ii) Dollar Payments from Derivative Counterparties for Principal. Dollar payments received under Derivative Agreements
for principal for any Tranche of Notes will be treated as Card Series Principal Amounts. 
 (iii) Shared Excess Principal
Amounts. Any Shared Excess Principal Amounts allocable to the Card Series will be treated as Card Series Principal Amounts pursuant to Section 3.28(a). 

(iv) Other Amounts. The Terms Document for any Tranche of Notes may include additional amounts which are to be treated
as Card Series Principal Amounts for any Distribution Date. 
 (b) Payments Received from Derivative Counterparties. Payments
received under Derivative Agreements for Notes with principal payable in foreign currencies will be applied as specified in the applicable Terms Document. 

  
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 (c) Class C Reserve sub-Account. Withdrawals
made from the Class C Reserve sub-Account for any Tranche of Class C Notes pursuant to Section 3.23(b) will be deposited into the applicable Principal Funding sub-Account on the
Distribution Date. 
 (d) Class D Reserve sub-Account. Withdrawals made from the
Class D Reserve sub-Account for any Tranche of Class D Notes pursuant to Section 3.30(b) will be deposited into the applicable Principal Funding
sub-Account on the Distribution Date. 
 (e) Asset Sales Proceeds. Asset Sales Proceeds
received pursuant to Section 3.20(c)(i) for any Tranche of Notes will be deposited into the applicable Principal Funding sub-Account on the date of receipt by the Issuer. 

Section 3.13. Withdrawals from Interest Funding Account. Withdrawals made pursuant to this Section 3.13 with respect
to any Tranche of Notes will be made from the Interest Funding sub-Account established for that Tranche only after all allocations and reallocations have been made pursuant to Sections 3.02,
3.03, 3.04 and 3.07. In no event will the aggregate amount of the withdrawals from an Interest Funding sub-Account for any month be more than the amount on deposit in the applicable
Interest Funding sub-Account. A single Tranche of Notes may be entitled to more than one of the following withdrawals in any month. 

(a) Withdrawals for Dollar Notes. On each Interest Payment Date (or as specified in the applicable Terms Document) with respect to each
Tranche of Dollar Notes, an amount equal to the interest due on the applicable Tranche of Notes on such Interest Payment Date (including any overdue and additional interest with respect to prior Interest Payment Dates) will be withdrawn from that
Interest Funding sub-Account and remitted to the applicable Paying Agent(s) or as otherwise provided in the applicable Terms Document. 

(b) Withdrawals for Foreign Currency Notes with a non-Performing Derivative Agreement for
Interest. On each Interest Payment Date (or as specified in the applicable Terms Document) with respect to a Tranche of foreign currency Notes that has a non-Performing Derivative Agreement for interest,
the amount specified in the applicable Terms Document will be withdrawn from that Interest Funding sub-Account and, if so specified in the applicable Terms Document, converted to the applicable foreign
currency at the Spot Exchange Rate and remitted to the applicable Paying Agent(s) or as otherwise provided in the applicable Terms Document. 

(c) Withdrawals for Discount Notes. On each applicable Principal Payment Date, with respect to each Tranche of Discount Notes, an
amount equal to the amount of the accretion of principal of that Tranche of Notes from the prior Principal Payment Date (or, in the case of the first Principal Payment Date, the date of issuance of that Tranche) to but excluding the applicable
Principal Payment Date will be withdrawn from that Interest Funding sub-Account and invested in the Invested Amount of any Collateral Certificate in Asset Pool 1 pursuant to Section 3.17. 

(d) Withdrawals for Payments to Derivative Counterparties. On each date on which a payment is required to be made to the Derivative
Counterparty under the applicable Derivative Agreement (or as specified in the applicable Terms Document) with respect to any Tranche of 

  
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Notes which has a Performing or non-Performing Derivative Agreement for interest, an amount equal to the amount of the payment to be made to the Derivative
Counterparty under the applicable Derivative Agreement (including any overdue payment and any additional interest on overdue payments) will be withdrawn from that Interest Funding sub-Account and paid to the
applicable Derivative Counterparty or as otherwise provided in the applicable Terms Document. 
 (e) Excess Amounts. After payment in
full of any Tranche of Notes, any amount remaining on deposit in the applicable Interest Funding sub-Account will be first, allocated among and deposited to the Interest Funding sub-Account of the Tranches of Notes in the manner, order and priority set forth in Section 3.03(b), second, allocated among and deposited to the Principal Funding
sub-Account of the Tranches of Notes in the manner, order and priority set forth in Section 3.11(b), and third, paid to the holder of the Asset Pool 1 Transferor Interest or, provided
that the conditions set forth in Section 10.02 of the Trust Agreement with respect to transfers of a portion of the Beneficial Interest are met, to the designee of the holder of the Asset Pool 1 Transferor Interest as though such designee
were a transferee of such portion. 
 If the aggregate amount available for withdrawal from an Interest Funding sub-Account for any Tranche of Notes is less than all withdrawals required to be made from that Interest Funding sub-Account for that Tranche in a month after giving effect to
all deposits, then the amounts on deposit in the Interest Funding sub-Account will be withdrawn and, if payable to more than one Person, applied pro rata based on the amounts of the withdrawals required to be
made. 
 Section 3.14. Withdrawals from Principal Funding Account . Withdrawals made pursuant to this Section 3.14
with respect to any Tranche of Notes will be made from the Principal Funding sub-Accounts established for that Tranche only after all allocations have been made pursuant to Sections 3.10,
3.11 and 3.12. In no event will the amount of the withdrawal be more than the amount on deposit in the applicable Principal Funding sub-Account. A single Tranche may be entitled to more than one
of the following withdrawals with respect to any Monthly Period. 
 (a) Withdrawals for Dollar Notes with no Derivative Agreement for
Principal. On each applicable Principal Payment Date (or as specified in the applicable Terms Document) with respect to each Tranche of Dollar Notes that has no Derivative Agreement for principal, an amount equal to the principal due on the
applicable Tranche of Notes on the applicable Principal Payment Date will be withdrawn from such Principal Funding sub-Account and remitted to the applicable Paying Agent(s) or as otherwise provided by the
applicable Terms Document. 
 (b) Withdrawals for Dollar or Foreign Currency Notes with Performing Derivative Agreements for
Principal. On each date on which a payment is required under the applicable Derivative Agreement (or as specified in the applicable Terms Document) with respect to any Tranche of Notes that has a Performing Derivative Agreement for principal, an
amount equal to the amount of the payment to be made under the applicable Derivative Agreement will be withdrawn from such Principal Funding sub-Account and paid to the applicable Derivative Counterparty or as
otherwise provided by the applicable Terms Document. The Issuer will direct the applicable Derivative Counterparty to remit its payments under the applicable Derivative Agreement to the applicable Paying Agent(s) or as otherwise provided by the
applicable Terms Document. 

  
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 (c) Withdrawals for Dollar Notes with a non-Performing
Derivative Agreement for Principal. On each applicable Principal Payment Date (or as specified in the applicable Terms Document) with respect to each Tranche of Dollar Notes with a non-Performing
Derivative Agreement for principal, the amount specified in the applicable Terms Document will be withdrawn from such Principal Funding sub-Account and remitted to the applicable Paying Agent(s) or as
otherwise provided by the applicable Terms Document. 
 (d) Withdrawals for Foreign Currency Notes with
non-Performing Derivative Agreements for Principal. On each Principal Payment Date (or as specified in the applicable Terms Document) with respect to a Tranche of foreign currency Notes that has a non-Performing Derivative Agreement for principal, the amount specified in the applicable Terms Document will be withdrawn from such Principal Funding sub-Account and, if so
specified in the applicable Terms Document, converted to the applicable foreign currency at the Spot Exchange Rate and remitted to the applicable Paying Agent(s) or as otherwise provided by the applicable Terms Document. 

(e) Withdrawal of Prefunding Excess Amount. If the Issuer on any date determines with respect to any Class of Class A Note,
Class B Notes or Class C Notes that, after giving effect to all issuances, deposits, allocations, reallocations and payments on such date, the Prefunding Excess Amount of that Class is greater than zero, that amount will be withdrawn
from the Principal Funding sub-Account of that Class of Notes and first, allocated among and deposited to the Principal Funding sub-Account of the Tranches
of Notes in the manner, order and priority set forth in Section 3.11(b), and then, paid to the holder of the Asset Pool 1 Transferor Interest or, provided that the conditions set forth in Section 10.02 of the
Trust Agreement with respect to transfers of a portion of the Beneficial Interest are met, to the designee of the holder of the Asset Pool 1 Transferor Interest as though such designee were a transferee of such portion. 

(f) Legal Maturity Date. On the Legal Maturity Date of any Tranche, after giving effect to any deposits, allocations, reallocations,
sales of Collateral or other payments to be made on that date, amounts on deposit in the Principal Funding sub-Account of any Tranche of a Subordinated Class of Notes will be applied to pay principal of
that Tranche, to make a payment under a Derivative Agreement with respect to principal of that Tranche or to make other payments as specified in the related Terms Document. 

(g) Excess Amounts. Upon payment in full of any Tranche of Notes, any remaining amount on deposit in the applicable Principal Funding sub-Account will be first, allocated among and deposited to the Interest Funding sub-Account of the Tranches of Notes in the manner, order and priority set forth in
Section 3.03(b), second, allocated among and deposited to the Principal Funding sub-Account of the Tranches of Notes in the manner, order and priority set forth in
Section 3.11(b), and third, paid to the holder of the Asset Pool 1 Transferor Interest or, provided that the conditions set forth in Section 10.02 of the Trust Agreement with respect to transfers of a portion of
the Beneficial Interest are met, to the designee of the holder of the Asset Pool 1 Transferor Interest as though such designee were a transferee of such portion. 

  
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 If the aggregate amount available for withdrawal from a Principal Funding sub-Account for any Tranche of Notes is less than all withdrawals required to be made from that Principal Funding sub-Account for that Tranche in a month, then the amounts on
deposit will be withdrawn and, if payable to more than one Person, applied pro rata based on the amounts of the withdrawals required to be made. 

Section 3.15. Limit on Deposits to the Principal Funding sub-Account of Subordinated Note;
Limit on Repayments of all Tranches. 
 (a) Limit on Deposits to the Principal Funding
sub-Account of Subordinated Notes. 
 (i) No Card Series Principal Amounts will
be deposited in the Principal Funding sub-Account of any Tranche of Class B Notes of the Card Series, unless, after giving effect to such deposit and any reductions and reallocations on such date,
including any resulting changes to the Nominal Liquidation Amount, the Nominal Liquidation Amount of all Class B Notes in the Card Series (other than the Class B Notes for which such deposit is targeted) is at least equal to the
Class A Available Subordinated Amount of Class B Notes for all Class A Notes in the Card Series. 
 (ii) No
Card Series Principal Amounts will be deposited in the Principal Funding sub-Account of any Tranche of Class C Notes of the Card Series and no funds will be released from a Class C Reserve sub-Account to pay principal on any Tranche of Class C Notes, unless, after giving effect to such deposit or release and any reductions and reallocations on such date, including any resulting changes to the
Nominal Liquidation Amount, the following conditions are satisfied: 
 (x) the Nominal Liquidation Amount of all Class C
Notes in the Card Series (other than the Class C Notes for which such deposit is targeted) is at least equal to the Class A Available Subordinated Amount of Class C Notes for all Class A Notes in the Card Series; and 

(y) the Nominal Liquidation Amount of all Class C Notes in the Card Series (other than the Class C Notes for which
such deposit is targeted) is at least equal to the Class B Available Subordinated Amount of Class C Notes for all Class B Notes in the Card Series. 

(iii) No Card Series Principal Amounts will be deposited in the Principal Funding
sub-Account of any Tranche of Class D Notes of the Card Series and no funds will be released from a Class D Reserve sub-Account to pay principal on any Tranche
of Class D Notes, unless, after giving effect to such deposit or release and any reductions and reallocations on such date, including any resulting changes to the Nominal Liquidation Amount, the following conditions are satisfied: 

(x) the Nominal Liquidation Amount of all Class D Notes in the Card Series (other than the Class D Notes for which
such deposit is targeted) is at least equal to the Class A Available Subordinated Amount of Class D Notes for all Class A Notes in the Card Series; 

  
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 (y) the Nominal Liquidation Amount of all Class D Notes in the Card Series
(other than the Class D Notes for which such deposit is targeted) is at least equal to the Class B Available Subordinated Amount of Class D Notes for all Class B Notes in the Card Series; and 

(z) the Nominal Liquidation Amount of all Class D Notes in the Card Series (other than the Class D Notes for which
such deposit is targeted) is at least equal to the Class C Available Subordinated Amount of Class D Notes for all Class C Notes in the Card Series. 

(iv) Notwithstanding anything in the Indenture, the Asset Pool 1 Supplement or this Indenture Supplement to the contrary,
Card Series Principal Amounts will be deposited in the Principal Funding sub-Account of a Subordinated Note, if and only to the extent that such deposit is not contrary to clause (a)(i), (a)(ii) or
(a)(iii) above and (ii) the Prefunding Target Amount for each Senior Class of Notes is zero. 
 (v) This
Section 3.15(a) shall not prevent deposits to the Principal Funding sub-Account of a Tranche of Subordinated Notes on the Legal Maturity Date of such Tranche (or, if the Legal Maturity Date of such
Tranche is not a Distribution Date, on the Distribution Date immediately preceding such Legal Maturity Date). 
 (b) Limit on Repayments
of all Tranches. No amounts on deposit in a Principal Funding sub-Account for any Tranche of Class A Notes or Class B Notes will be applied to pay principal of that Tranche or to make a payment
under a Derivative Agreement with respect to principal of that Tranche in excess of the highest Outstanding Dollar Principal Amount of that Tranche (or, in the case of foreign currency notes, such other amount that may be specified in the related
Terms Document). In the case of any Tranche of Class C Notes, no amounts on deposit in a Principal Funding sub-Account or, if applicable, a Class C Reserve
sub-Account for any such Tranche will be applied to pay principal of that Tranche or to make a payment under a Derivative Agreement with respect to principal of that Tranche in excess of the highest
Outstanding Dollar Principal Amount of that Tranche (or, in the case of foreign currency notes, such other amount that may be specified in the related Terms Document). In the case of any Tranche of Class D Notes, no amounts on deposit in a
Principal Funding sub-Account or, if applicable, a Class D Reserve sub-Account for any such Tranche will be applied to pay principal of that Tranche or to make a
payment under a Derivative Agreement with respect to principal of that Tranche in excess of the highest Outstanding Dollar Principal Amount of that Tranche (or, in the case of foreign currency notes, such other amount that may be specified in the
related Terms Document). 

  
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 Section 3.16. Calculation of Nominal Liquidation Amount. On or prior to each
Distribution Date, the Issuer shall calculate the Nominal Liquidation Amount of each Tranche of Outstanding Notes in the Card Series, which shall be the following amount: 

(a) as of the date of issuance of such Tranche of Notes, the Initial Dollar Principal Amount of such Tranche of Notes; and 

(b) thereafter, the sum of, without duplication: 

(i) the Nominal Liquidation Amount of such Tranche of Notes immediately after the prior date of determination; plus 

(ii) the aggregate amount of any increases in the Outstanding Dollar Principal Amount of such Tranche of Card Series Notes
during the current Monthly Period due to the issuance of additional Notes of such Tranche of Card Series Notes since the prior date of determination; plus 

(iii) with respect to any Tranche of Discount Notes, the aggregate amount of any accretions of principal on that Tranche paid
to the Master Trust for investment in the Invested Amount pursuant to Section 3.17 since the prior date of determination; plus 

(iv) the aggregate amount withdrawn from the Principal Funding sub-Account pursuant to
Section 3.14(e) for such Tranche since the prior date of determination; plus 
 (v) such Tranche’s
allocable share of all reimbursements of its Nominal Liquidation Amount Deficit pursuant to Section 3.01(g) since the prior date of determination determined as set forth in Section 3.06; minus  

(vi) such Tranche’s allocable share of all reallocations of Card Series Principal Amounts pursuant to
Section 3.07 since the prior date of determination, determined as set forth in Section 3.08; minus 

(vii) the amount of the reduction of the Nominal Liquidation Amount of such Tranche resulting from an allocation of Investor Charge-Offs since the prior date of determination, determined as set forth in Section 3.05; minus 

(viii) the amount deposited in the applicable Principal Funding sub-Account for such
Tranche (after giving effect to any deposits, allocations, reallocations or withdrawals to be made on that day) since the prior date of determination; 

provided, however, that (1) the Nominal Liquidation Amount of a Tranche of Notes may never be less than zero, (2) the Nominal
Liquidation Amount of any Tranche of Notes may never be greater than the Outstanding principal amount of such Tranche and (3) the Nominal Liquidation Amount of any Tranche of Notes that has caused a sale of Collateral pursuant to
Section 3.20 will be zero. 

  
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 The Nominal Liquidation Amount for the Card Series will be the sum of the Nominal Liquidation
Amounts of all of the Tranches of Notes of the Card Series. 
 Section 3.17. Reinvestment in the COMT Collateral Certificate.
The amount of principal accreted on any Tranche of Discount Notes available pursuant to Section 3.13(c) will be paid to the Issuer to increase the Invested Amount of any Collateral Certificate in Asset Pool 1. 

Section 3.18. Netting of Deposits and Payments. The Issuer, in its sole discretion, may make all deposits to Interest Funding sub-Accounts and Principal Funding sub-Accounts pursuant to Sections 3.02 and 3.10 with respect to any Monthly Period net of, and after giving effect to,
(a) all reallocations to be made pursuant to Section 3.07, (b) all payments to be made to Derivative Counterparties pursuant to Sections 3.13 and 3.14, (c) all reinvestments in the Invested Amount of the
COMT Collateral Certificate to be made pursuant to Section 3.17 and (d) all payments to the holder of the Asset Pool 1 Transferor Interest or its designee pursuant to Section 3.07(i). 

Section 3.19. Pro rata Payments within a Tranche. All payments of principal, interest or other amounts to Holders of the Notes of
a single Tranche will be made pro rata based on the Stated Principal Amount of their Notes. 
 Section 3.20. Sale of
Collateral for Accelerated Notes. 
 (a) (i) If a Tranche of Notes has been accelerated pursuant to Section 602 of the
Indenture following an Event of Default, the Indenture Trustee may, and at the direction of the Majority Holders of that Tranche of Notes will, sell Collateral (or interests therein) pledged for the benefit of Holders the Asset Pool 1 Notes in
an amount up to the Nominal Liquidation Amount of the affected Tranche plus any accrued, past due or additional interest on the affected Tranche. 

(ii) Such a sale will be permitted only if at least one of the following conditions is met: 

(A) the Holders of 90% of the aggregate Outstanding Dollar Principal Amount of the accelerated Tranche of Notes consent; 

(B) the net proceeds of such sale (plus amounts on deposit in the applicable
sub-Accounts and payments to be received from any applicable Derivative Agreement, any Supplemental Credit Enhancement Provider or any Supplemental Liquidity Provider) would be sufficient to pay all amounts
due on the accelerated Tranche of Notes; or 
 (C) the Indenture Trustee determines that the funds to be allocated to the
accelerated Tranche of Notes, including (1) Card Series Finance Charge Amounts and Card Series Principal Amounts allocable to the accelerated Tranche of Notes, (2) payments to be received under any applicable Derivative Agreement,
Supplemental Credit Enhancement Agreement or Supplemental 

  
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Liquidity Agreement and (3) amounts on deposit in the applicable sub-Accounts, may not be sufficient on any ongoing basis to make payments on the
accelerated Tranche of Notes as such payments would have become due if such obligations had not been declared due and payable, and the Holders of 66 2⁄3% of
the principal amount of the accelerated Tranche of Notes consent to the sale. 
 (iii) In the case of an acceleration of a
Tranche of Notes of a Subordinated Class, if the provisions of Section 3.15 would prevent the payment of the accelerated Tranche of subordinated Notes, such sale will be delayed until a level of prefunding of the Principal Funding sub-Accounts for the Senior Classes of Notes of that Series has been reached such that the amount of such accelerated Tranche is no longer required to provide subordination for the Senior Classes of Notes. 

(b) If the Nominal Liquidation Amount with respect to any Tranche of Notes is greater than zero on its Legal Maturity Date (after giving
effect to any adjustments, deposits and distributions otherwise to be made on that Legal Maturity Date), the Indenture Trustee shall sell Collateral (or interests therein) pledged for the benefit of the Holders of the Asset Pool 1 Notes on that
Legal Maturity Date in an amount up to the Nominal Liquidation Amount of the affected Tranche plus any accrued, past due and additional interest on the affected Tranche. 

(c) Sales proceeds received with respect to a Tranche of Notes pursuant to clause (a) or (b) will be allocated in the following
priority: 
 (i) first, to be deposited in the Principal Funding sub-Account for that
Tranche of Notes, an amount up to the amount that would be necessary to increase the aggregate amount on deposit in such sub-Account to the principal amount for such Tranche of Notes (notwithstanding any
limitation in Section 3.10 to the contrary); and 
 (ii) second, to be deposited in the Interest Funding sub-Account of that Tranche of Notes, the balance of such sales proceeds. 
 (d) Any amount remaining on
deposit in the Interest Funding sub-Account for a Tranche of Notes that has caused a sale of Collateral pursuant to this Section 3.20 after final payment thereof pursuant to Section 3.5
of the Asset Pool 1 Supplement will be treated as Card Series Finance Charge Amounts. 
 Section 3.21. Calculation of
Prefunding Target Amount. 
 (a) The Prefunding Target Amount for any Tranche of Class A Notes for any day during any Monthly
Period means an amount, not less than zero, equal to the sum of the following amounts: 
 (i) for each Tranche of
Class A Notes with a Required Subordinated Amount of Class B Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the end of the preceding
Monthly Period (taking into consideration any deposits or withdrawals to be made on the 

  
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related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount
of all Tranches of Outstanding Class B Notes (other than Tranches of Class B Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or
with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to
that Monthly Period or earlier Monthly Periods) and the denominator of which is the aggregate Required Subordinated Amount of Class B Notes for all Tranches of Class A Notes of which are Outstanding as of the end of the preceding Monthly
Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date); 
 (ii) for each
Tranche of Class A Notes with a Required Subordinated Amount of Class C Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the end of the
preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate
Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (other than Tranches of Class C Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such
Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected
Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the sum of (1) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes
which are Outstanding as of the end of the preceding Monthly Period which have a Class A Required Subordinated Amount of Class B Notes equal to zero and (2) the aggregate Required Subordinated Amount of Class C Notes for all
Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the related Distribution Date); and 

(iii) for each Tranche of Class A Notes with a Required Subordinated Amount of Class D Notes greater than zero, the
product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class A Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related
Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than
Tranches of Class D Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events
of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator
of which is the greater of (1) the sum of (X) the aggregate Required 

  
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Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Required Subordinated Amount of
Class B Notes equal to zero and (Y) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into
consideration any deposits or withdrawals to be made on the related Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the
preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date). 
 (b) The
Prefunding Target Amount for any Tranche of Class B Notes for any day during any Monthly Period means an amount, not less than zero, equal to the sum of the following amounts: 

(i) for each Tranche of Class B Notes with a Required Subordinated Amount of Class C Notes greater than zero, the
product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class B Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related
Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class C Notes (other than
Tranches of Class C Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events
of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator
of which is the sum of (1) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Class A Required
Subordinated Amount of Class B Notes equal to zero and (2) the aggregate Required Subordinated Amount of Class C Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each
case, taking into consideration any deposits or withdrawals to be made on the related Distribution Date); and 
 (ii) for
each Tranche of Class B Notes with a Required Subordinated Amount of Class D Notes greater than zero, the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such Tranche of Class B Notes as of the end of
the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed one) the numerator of which is the
aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches of Class D Notes which have (A) had Early Redemption Events or other mandatory or optional redemption events in
which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or are expected to reach their final or only
Expected Principal 

  
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Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the greater of (1) the sum of (X) the aggregate Required Subordinated
Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Required Subordinated Amount of Class B Notes equal to zero and (Y) the aggregate Required
Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made on the related
Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any deposits or
withdrawals to be made on the related Distribution Date). 
 (c) The Prefunding Target Amount for any Tranche of Class C Notes with a
Required Subordinated Amount of Class D Notes greater than zero for any day during any Monthly Period means an amount, not less than zero, equal to the product of (x) the aggregate Adjusted Outstanding Dollar Principal Amount of such
Tranche of Class C Notes as of the end of the preceding Monthly Period (taking into consideration any deposits or withdrawals to be made on the related Distribution Date) times (y) one minus a fraction (which shall not exceed
one) the numerator of which is the aggregate Adjusted Outstanding Dollar Principal Amount of all Tranches of Outstanding Class D Notes (other than Tranches of Class D Notes which have (A) had Early Redemption Events or other
mandatory or optional redemption events in which such Tranches are to be redeemed in full in or with respect to any preceding Monthly Period, (B) had Events of Default in or with respect to any preceding Monthly Period, or (C) reached or
are expected to reach their final or only Expected Principal Payment Date in or with respect to that Monthly Period or earlier Monthly Periods) and the denominator of which is the greater of (1) the sum of (X) the aggregate Required
Subordinated Amount of Class D Notes for all Tranches of Class A Notes which are Outstanding as of the end of the preceding Monthly Period which have a Required Subordinated Amount of Class B Notes equal to zero and (Y) the
aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class B Notes which are Outstanding as of the end of the preceding Monthly Period (in each case, taking into consideration any deposits or withdrawals to be made
on the related Distribution Date) and (2) the aggregate Required Subordinated Amount of Class D Notes for all Tranches of Class C Notes which are Outstanding as of the end of the preceding Monthly Period (taking into consideration any
deposits or withdrawals to be made on the related Distribution Date). 
 (d) On any day during any Monthly Period on which the Prefunding
Target Amount for any Tranche of senior Notes first exceeds zero, the Issuer will notify the Master Trust pursuant to Section 4.05 of the Series 2002-CC Supplement and the Note Rating Agencies of such event. 

Section 3.22. Targeted Deposits to the Class C Reserve Account. 

(a) The aggregate deposit targeted to be made to the Class C Reserve Account with respect to each Distribution Date is an amount equal to
the sum of Class C Reserve sub-Account deposits, if any, targeted to be made for each specified Tranche of Class C Notes. The amount of any such deposit, the aggregate amount targeted to be on
deposit after giving effect to any such 

  
 -55- 

 
deposit and the circumstances that require that a deposit be made will be set forth in the Terms Document for such Tranche of Class C Notes. Unless another time is specified for making such
deposits in the Terms Document for each such Tranche of Class C Notes, these deposits will be made on each Distribution Date. 
 (b) If
the amount of funds available for a Distribution Date pursuant to Section 3.01(i) is at least equal to the aggregate amount of the deposits targeted by clause (a) above, then the full amount of each such deposit will be made. 

(c) If the amount of funds available for a Distribution Date pursuant to Section 3.01(i) is less than the aggregate amount of
deposits targeted by clause (a) above, then the amount available will be allocated to each Tranche of Class C Notes to the extent of its targeted deposit to the applicable Class C Reserve
sub-Account pro rata based on the ratio of the Floating Allocation Amount for such Monthly Period for such Tranche of Class C Notes to the Floating Allocation Amount for such Monthly Period for all
the Class C Notes in the Card Series that have a targeted deposit to its Class C Reserve sub-Account for such Monthly Period; provided, however, that any excess identified in this
clause (c), including in the application of this proviso, will be allocated to each Tranche of Class C Notes which has a remaining targeted deposit to its Class C Reserve sub-Account up to the
amount of such remaining targeted deposit pro rata based on the ratio of the Floating Allocation Amount for such Monthly Period for such Tranche of Class C Notes to the Floating Allocation Amount for such Monthly Period for all the
Class C Notes in the Card Series that have a remaining targeted deposit to its Class C Reserve sub-Account for such Monthly Period. 

Section 3.23. Withdrawals from the Class C Reserve Account. Withdrawals for any Tranche of Class C Notes will be made
from the applicable Class C Reserve sub-Account as specified below. 
 (a) Payments of
Interest; Payments with Respect to Derivative Agreements for Interest, Accretion on Discount Notes. If the amount on deposit in the Interest Funding sub-Account for any Tranche of Class C Notes is
insufficient to pay in full the amounts for which withdrawals are required under Section 3.13, on such payment date an amount equal to that deficiency will be withdrawn from the Class C Reserve
sub-Account for such Tranche of Class C Notes and deposited into that Interest Funding sub-Account for such Tranche of Class C Notes. 

(b) Payments of Principal; Payments with Respect to Derivative Agreements for Principal. If, on and after the earliest to occur of
(i) the date on which any Tranche of Class C Notes are accelerated pursuant to Section 602 of the Indenture following an Event of Default with respect to such Tranche of Class C Notes, (ii) any date on or after the
Expected Principal Payment Date on which the amount on deposit in the Principal Funding sub-Account for any Tranche of Class C Notes plus the aggregate amount on deposit in the Class C Reserve
sub-Account for such Tranche of the Class C Notes equals or exceeds the Outstanding Dollar Principal Amount of such Tranche of Class C Notes, provided deposits to the Principal Funding sub-Account of such Tranche of Class C Notes are permitted pursuant to Section 3.15, and (iii) the Legal Maturity Date for any Tranche of Class C Notes, the amount on deposit in the
Principal Funding sub-Account for any Tranche of Class C Notes is insufficient to pay in full the 

  
 -56- 

 
amounts for which withdrawals are required under Section 3.14, an amount equal to that deficiency will be withdrawn from that Class C Reserve
sub-Account for such Tranche of Class C Notes and deposited into that Principal Funding sub-Account for such Tranche of Class C Notes on the Distribution Date
before the date of the applicable withdrawal required pursuant to Section 3.14. 
 (c) Withdrawal of Excess Amounts. If
on any Distribution Date with respect to which no Class C Notes have been accelerated, the aggregate amount on deposit in the Class C Reserve Account exceeds the amount required to be on deposit in such Class C Reserve Account, the
amount of such excess will be withdrawn from the Class C Reserve Account and first, allocated among and deposited to the Class C Reserve sub-Account of the Tranches of Class C Notes in
the manner, order and priority set forth in Section 3.22(c), and then, applied in accordance with the provisions of, and the priority set forth in, Sections 3.01(j) through (m). Upon payment in full of any
Tranche of Class C Notes, any amount remaining on deposit in the applicable Class C Reserve sub-Account will be applied in accordance with the preceding sentence. 

Section 3.24. Targeted Deposits to the Accumulation Reserve Account. 

(a) The aggregate deposit targeted to be made to the Accumulation Reserve Account with respect to each Monthly Period is an amount equal to
the sum of Accumulation Reserve sub-Account deposits, if any, targeted to be made for each specified Tranche of Notes. The amount of any such deposit, the aggregate amount targeted to be on deposit after
giving effect to any such deposit and the circumstances that require that a deposit be made will be set forth in the Terms Document for such Tranche of Notes. Unless another time is specified for making such deposits in the Terms Document for each
such Tranche of Notes, these deposits will be made on each Distribution Date. 
 (b) If the amount of funds available for a Monthly Period
pursuant to Section 3.01(h) is at least equal to the aggregate amount of the deposits targeted by clause (a) above, then the full amount of each such deposit will be made. 

(c) If the amount of funds available for a Monthly Period pursuant to Section 3.01(h) is less than the aggregate amount of
deposits targeted by clause (a) above, then the amount available will be allocated to each Tranche of Notes to the extent of its targeted deposit to the applicable Accumulation Reserve sub-Account pro
rata based on the ratio of the Floating Allocation Amount for such Monthly Period for such Tranche of Notes to the Floating Allocation Amount for such Monthly Period for all Tranches of Notes in the Card Series that have a targeted deposit to
its Accumulation Reserve sub-Account for such Monthly Period; provided, however, that any excess identified in this clause (c), including in the application of this proviso, will be
allocated to each Tranche of Notes which has a remaining targeted deposit to its Accumulation Reserve sub-Account up to the amount of such remaining targeted deposit pro rata based on the ratio of the
Floating Allocation Amount for such Monthly Period for such Tranche of Notes to the Floating Allocation Amount for such Monthly Period for all the Tranches of Notes in the Card Series that have a remaining targeted deposit to its Accumulation
Reserve sub-Account for such Monthly Period. 

  
 -57- 

 Section 3.25. Withdrawals from the Accumulation Reserve Account. Withdrawals for any
Tranche of Notes will be made from the applicable Accumulation Reserve sub-Account as specified below. 

(a) Interest. On or prior to each Distribution Date, the Issuer will calculate the PFA Accumulation Earnings Shortfall (if any) for the
Principal Funding sub-Account for each Tranche of Notes. If there is any PFA Accumulation Earnings Shortfall for any Principal Funding sub-Account for that Distribution
Date or any prior Distribution Date for any Tranche of Notes, the Issuer will withdraw such amount from the applicable Accumulation Reserve sub-Account, to the extent available, for treatment as Card Series
Finance Charge Amounts for such Monthly Period. 
 (b) Payment to Issuer. If on any Distribution Date the aggregate amount on deposit
in the Accumulation Reserve Account exceeds the amount required to be on deposit in the Accumulation Reserve Account, the amount of such excess will be withdrawn from the Accumulation Reserve Account and applied in accordance with
Section 3.01(i) through (m). 
 Section 3.26. Computation of Interest. 

(a) Unless otherwise provided as contemplated in Section 301 of the Indenture, (i) interest on the Notes computed at a fixed
rate will be calculated on the basis of a 360-day year of twelve 30-day months and (ii) interest on Notes computed on the basis of a floating or periodic rate will
be calculated on the basis of a 360-day year for the actual number of days elapsed. 
 (b) Unless
otherwise specified in this Indenture Supplement or the applicable Terms Document, interest for any period will be calculated from and including the first day of such period, to but excluding the last day of such period. 

Section 3.27. Excess Finance Charge Amounts Sharing. 

(a) Shared Excess Finance Charge Amounts allocable to the Card Series on any Distribution Date shall be treated as Card Series Finance Charge
Amounts for such Distribution Date. 
 (b) Shared Excess Finance Charge Amounts allocable to the Card Series with respect to any
Distribution Date shall mean an amount equal to the Series Finance Charge Amounts Shortfall, if any, with respect to the Card Series for such Distribution Date; provided, however, that if the aggregate amount of Shared Excess Finance
Charge Amounts for all Excess Finance Charge Amounts Sharing Series in Excess Finance Charge Amounts Sharing Group A for such Distribution Date is less than the Aggregate Series Finance Charge Amounts Shortfall for such Distribution Date, then
Shared Excess Finance Charge Amounts allocable to the Card Series on such Distribution Date shall equal the product of (i) Shared Excess Finance Charge Amounts for all Excess Finance Charge Amounts Sharing Series in Excess Finance Charge
Amounts Sharing Group A for such Distribution Date and (ii) a fraction, the numerator of which is the Series Finance Charge Amounts Shortfall with respect to the Card Series for such Distribution Date and

  
 -58- 

 
the denominator of which is the Aggregate Series Finance Charge Amounts Shortfall for all Excess Finance Charge Amounts Sharing Series in Excess Finance Charge Amounts Sharing Group A for such
Distribution Date. 
 (c) On any Distribution Date, the amount of Shared Excess Finance Charge Amounts available pursuant to
Section 3.01(l) shall be allocated: 
 (i) first, to Series of Asset Pool 1 Notes with Series Finance Charge
Amounts Shortfalls (as such term is defined in the related Indenture Supplements) in Excess Finance Charge Amounts Sharing Group A; 

(ii) second, to the extent available after the allocation pursuant to Section 3.27(c)(i), to Series of Asset
Pool 1 Notes with Series Finance Charge Amounts Shortfalls (as such term is defined in the related Indenture Supplements) not included in Excess Finance Charge Amounts Sharing Group A; 

(iii) third, to the extent available after the allocation pursuant to Section 3.27(c)(ii), to the Master Trust for
distribution to Series of Investor Certificates issued pursuant to the COMT Pooling and Servicing Agreement with Finance Charge Shortfalls (as such term is defined in the related Series Supplements); and 

(iv) fourth, to the extent available after the allocation pursuant to Section 3.27(c)(iii), to Series of Notes with
Series Finance Charge Amounts Shortfalls (as such term is defined in the related Indenture Supplements) not secured by Asset Pool 1. 

Section 3.28. Excess Available Principal Amount Sharing. 

(a) Shared Excess Principal Amounts allocable to the Card Series on any Distribution Date shall be treated as Card Series Principal Amounts
for such Distribution Date. 
 (b) Shared Excess Principal Amounts allocable to the Card Series with respect to any Distribution Date shall
mean an amount equal to the Series Principal Amounts Shortfall, if any, with respect to the Card Series for such Distribution Date; provided, however, that if the aggregate amount of Shared Excess Principal Amounts for all Excess
Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date is less than the Aggregate Series Principal Amounts Shortfall for such Distribution Date, then Shared Excess Principal Amounts allocable to the
Card Series on such Distribution Date shall equal the product of (i) Shared Excess Principal Amounts for all Excess Principal Amounts Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date and (ii) a
fraction, the numerator of which is the Series Principal Amounts Shortfall with respect to the Card Series for such Distribution Date and the denominator of which is the Aggregate Series Principal Amounts Shortfall for all Excess Principal Amounts
Sharing Series in Excess Principal Amounts Sharing Group A for such Distribution Date. 
 (c) On any Distribution Date, the amount of Shared
Excess Principal Amounts available pursuant to Section 3.07(h) shall be allocated: 
 (i) first, to Series of
Asset Pool 1 Notes with Series Principal Amounts Shortfalls (as such term is defined in the related Indenture Supplements) in Excess Principal Amounts Sharing Group A; 

  
 -59- 

 (ii) second, to the extent available after the allocation pursuant to
Section 3.28(c)(ii), to Series of Asset Pool 1 Notes with Series Principal Amounts Shortfalls (as such term is defined in the related Indenture Supplements) not included in Excess Principal Amounts Sharing Group A; and 

(iii) third, to the extent available after the allocation pursuant to Section 3.28(c)(iii), to the Master Trust for
distribution to Series of Investor Certificates issued pursuant to the COMT Pooling and Servicing Agreement with Principal Shortfalls (as such term is defined in the related Series Supplements). 

Section 3.29. Targeted Deposits to the Class D Reserve Account. 

(a) The aggregate deposit targeted to be made to the Class D Reserve Account with respect to each Distribution Date is an amount equal to
the sum of Class D Reserve sub-Account deposits, if any, targeted to be made for each specified Tranche of Class D Notes. The amount of any such deposit, the aggregate amount targeted to be on
deposit after giving effect to any such deposit and the circumstances that require that a deposit be made will be set forth in the Terms Document for such Tranche of Class D Notes. Unless another time is specified for making such deposits in
the Terms Document for each such Tranche of Class D Notes, these deposits will be made on each Distribution Date. 
 (b) If the amount
of funds available for a Distribution Date pursuant to Section 3.01(j) is at least equal to the aggregate amount of the deposits targeted by clause (a) above, then the full amount of each such deposit will be made. 

(c) If the amount of funds available for a Distribution Date pursuant to Section 3.01(j) is less than the aggregate amount of
deposits targeted by clause (a) above, then the amount available will be allocated to each Tranche of Class D Notes to the extent of its targeted deposit to the applicable Class D Reserve
sub-Account pro rata based on the ratio of the Floating Allocation Amount for such Monthly Period for such Tranche of Class D Notes to the Floating Allocation Amount for such Monthly Period for all
the Class D Notes in the Card Series that have a targeted deposit to its Class D Reserve sub-Account for such Monthly Period; provided, however, that any excess identified in this
clause (c), including in the application of this proviso, will be allocated to each Tranche of Class D Notes which has a remaining targeted deposit to its Class D Reserve sub-Account up to the
amount of such remaining targeted deposit pro rata based on the ratio of the Floating Allocation Amount for such Monthly Period for such Tranche of Class D Notes to the Floating Allocation Amount for such Monthly Period for all the
Class D Notes in the Card Series that have a remaining targeted deposit to its Class D Reserve sub-Account for such Monthly Period. 

  
 -60- 

 Section 3.30. Withdrawals from the Class D Reserve Account. Withdrawals for any
Tranche of Class D Notes will be made from the applicable Class D Reserve sub-Account as specified below. 

(a) Payments of Interest; Payments with Respect to Derivative Agreements for Interest, Accretion on Discount Notes. If the amount on
deposit in the Interest Funding sub-Account for any Tranche of Class D Notes is insufficient to pay in full the amounts for which withdrawals are required under Section 3.13, on such payment
date an amount equal to that deficiency will be withdrawn from the Class D Reserve sub-Account for such Tranche of Class D Notes and deposited into that Interest Funding sub-Account for such Tranche of Class D Notes. 
 (b) Payments of Principal; Payments with Respect
to Derivative Agreements for Principal. If, on and after the earliest to occur of (i) the date on which any Tranche of Class D Notes are accelerated pursuant to Section 602 of the Indenture following an Event of Default
with respect to such Tranche of Class D Notes, (ii) any date on or after the Distribution Date immediately preceding the Expected Principal Payment Date on which the amount on deposit in the Principal Funding
sub-Account for any Tranche of Class D Notes plus the aggregate amount on deposit in the Class D Reserve sub-Account for such Tranche of the
Class D Notes equals or exceeds the Outstanding Dollar Principal Amount of such Tranche of Class D Notes, provided deposits to the Principal Funding sub-Account of such Tranche of Class D Notes
are permitted pursuant to Section 3.15, and (iii) the Legal Maturity Date for any Tranche of Class D Notes, the amount on deposit in the Principal Funding sub-Account for any Tranche of
Class D Notes is insufficient to pay in full the amounts for which withdrawals are required under Section 3.14, an amount equal to that deficiency will be withdrawn from that Class D Reserve
sub-Account for such Tranche of Class D Notes and deposited into that Principal Funding sub-Account for such Tranche of Class D Notes on the Distribution Date
before the date of the applicable withdrawal required pursuant to Section 3.14. 
 (c) Withdrawal of Excess Amounts. If
on any Distribution Date with respect to which no Class D Notes have been accelerated, the aggregate amount on deposit in the Class D Reserve Account exceeds the amount required to be on deposit in such Class D Reserve Account, the
amount of such excess will be withdrawn from the Class D Reserve Account and first, allocated among and deposited to the Class D Reserve sub-Account of the Tranches of Class D Notes in the
manner, order and priority set forth in Section 3.29(c), and then, applied in accordance with the provisions of, and the priority set forth in, Sections 3.01(k) through (m). Upon payment in full of any Tranche of
Class D Notes, any amount remaining on deposit in the applicable Class D Reserve sub-Account will be applied in accordance with the preceding sentence. 

[END OF ARTICLE III] 

  
 -61- 

 ARTICLE IV 

Early Redemption of Notes 

Section 4.01. Early Redemption Events. 

(a) In addition to the events identified as Early Redemption Events in Section 1101 of the Indenture, each of the following events
will be an “Early Redemption Event” with respect to the Card Series Notes: 
 (i) if for any month, the average of
the Excess Spread Amounts for the three preceding Monthly Periods is less than the Required Excess Spread Amount for such month; or 

(ii) the occurrence of any Pay Out Event as defined in the COMT Pooling and Servicing Agreement or any Pay Out Event pursuant
to Section 6.01 of the Series 2002-CC Supplement, or, if the Note Rating Agencies require upon the addition of any Collateral Certificate (other than the COMT Collateral Certificate) to Asset Pool 1, the occurrence of a Pay Out
Event (as such term is defined in the related Pooling and Servicing Agreement and Series Supplement) with respect to any Collateral Certificate that has been added to Asset Pool 1. 

(b) In addition, the Terms Document for any Tranche of Notes may list additional events which are “Early Redemption Events” with
respect to such Tranche of Notes. 
 [END OF ARTICLE IV] 

  
 -62- 

 ARTICLE V 

Issuer Accounts and Investments 

Section 5.01. Issuer Accounts. 

(a) On or before the Closing Date, the Indenture Trustee will cause to be established and maintained five Eligible Deposit Accounts
denominated as follows: the “Interest Funding Account,” “Principal Funding Account,” the “Accumulation Reserve Account,” the “Class C Reserve Account” and the
“Class D Reserve Account” in the name of the Indenture Trustee, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Card Series Noteholders (or, in the case of the
Class C Reserve Account, for the benefit of the Class C Noteholders or, in the case of the Class D Reserve Account, for the benefit of the Class D Noteholders). The Interest Funding Account, the Principal Funding Account, the
Accumulation Reserve Account, the Class C Reserve Account and the Class D Reserve Account constitute Supplemental Issuer Accounts, shall be maintained in accordance with Article IV of the Indenture and the Asset Pool 1
Supplement, and shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Card Series Noteholders (or, in the case of the Class C Reserve Account, for the benefit of the Class C Noteholders or, in the
case of the Class D Reserve Account, for the benefit of the Class D Noteholders). If, at any time, the institution holding either the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the
Class C Reserve Account or the Class D Reserve Account ceases to be an Eligible Institution, the Issuer will within ten (10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which each Note
Rating Agency may consent) establish a new Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or the Class D Reserve Account, as the case may be, that is an Eligible Deposit Account
and shall transfer any cash and other property to such new Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Class D Reserve Account, as the case may be. From the date such new
Interest Funding Account, Principal Funding Account, Accumulation Reserve Account, Class C Reserve Account or Class D Reserve Account is established, it will be the “Interest Funding Account,” “Principal Funding
Account,” “Accumulation Reserve Account,” “Class C Reserve Account” or a “Class D Reserve Account,” as the case may be. Each Tranche of Notes will have its own
sub-Account within the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account and the Class D Reserve Account. The Interest Funding
Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account and the Class D Reserve Account will receive deposits pursuant to Article III. 

(b) Notwithstanding any provision of Section 403(a) of the Indenture to the contrary, any prefunded amounts on deposit in the
Principal Funding Account will be invested in Eligible Investments that will mature no later than the following Business Day. 
 (c) All
payments to be made from time to time by the Indenture Trustee to Noteholders out of funds in the Interest Funding Account, the Principal Funding Account, the Accumulation Reserve Account, the Class C Reserve Account or Class D Reserve
Account pursuant to this 

  
 -63- 

 
Indenture Supplement will be made by the Indenture Trustee to the Paying Agent not later than 12:00 noon (New York City time) on the applicable Interest Payment Date or Principal Payment Date but
only to the extent of Card Series Finance Charge Amounts in the applicable sub-Account or as otherwise provided in Article III. 

(d) On each Distribution Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Distribution Date
on funds on deposit in the Class C Reserve Account will be retained in the Class C Reserve Account (to the extent that the sum of the amount on deposit in the Class C Reserve Account with respect to the related Monthly Period is less
than the required balance for the Class C Reserve Account for that Monthly Period) and the excess, if any, will be paid to the Issuer. 

(e) On each Distribution Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Distribution Date
on funds on deposit in the Class D Reserve Account will be retained in the Class D Reserve Account (to the extent that the sum of the amount on deposit in the Class D Reserve Account with respect to the related Monthly Period is less
than the required balance for the Class D Reserve Account for that Monthly Period) and the excess, if any, will be paid to the Issuer. 

[END OF ARTICLE V] 

  
 -64- 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture Supplement to be duly executed
all as of the day and year first above written. 
  

			
	CAPITAL ONE MULTI-ASSET EXECUTION TRUST,
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, as Owner Trustee and not in its individual capacity
		
	By:	 	 /s/ Michele HY Voon

		 	Name: Michele HY Voon
		 	Title: Attorney-in-fact
		
	By:	 	 /s/ Susan Barstock

		 	Name: Susan Barstock
		 	Title: Attorney-in-fact
	
	 THE BANK OF NEW YORK MELLON,
 as
Indenture Trustee and not in its individual capacity

		
	By:	 	 /s/ Michael D. Commisso

		 	Name: Michael D. Commisso
		 	Title: Vice President

  
 -65- 

 EXHIBIT A-1 

[FORM OF] CLASS A NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND
AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE ISSUER, THE TRANSFEROR OR THE MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUER, THE TRANSFEROR OR THE MASTER TRUST, OF, ANY BANKRUPTCY PROCEEDINGS UNDER ANY UNITED STATES FEDERAL
OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE INDENTURE. 
 THE HOLDER
OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND
FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

  
 A-1-1 

			
	REGISTERED	  	up to $            *
	No.     	  	CUSIP NO.             

 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 

[Floating Rate] 
 CARD SERIES
CLASS A NOTE 
 Capital One Multi-asset Execution Trust, a statutory trust created under the laws of
the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of
                     payable on the             
         Payment Date (the “Expected Principal Payment Date”), except as otherwise provided below or in the Indenture; provided, however, that the entire unpaid principal amount
of this Note shall be due and payable on the                       Payment Date (the “Legal Maturity Date”). Interest will accrue on
this Note at the rate of          and shall be due and payable on each Interest Payment Date from the Monthly Interest Accrual Date in the related Monthly Period (or, in the case of the first Transfer Date,
from the date of issuance of this Note) to but excluding the first Monthly Interest Accrual Date after the end of that Monthly Period. Interest will be computed on the basis of a 360-day year [of twelve 30-day months] [and the actual number of days elapsed]. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set
forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by the Indenture Trustee whose name
appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

 

	*	Denominations of $1,000 and in integral multiples of $1,000 in excess thereof. 

  
 A-1-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer. 
  

			
	CAPITAL ONE MULTI-ASSET EXECUTION TRUST, as Issuer
		
	By:	 	CAPITAL ONE FUNDING, LLC, as Beneficiary and not in its individual capacity
		
	By:	 	  

		 	Name:
		 	Title:
		
	Date:	 	                 , 20[    ]

  
 A-1-3 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Indenture Trustee
		
	By:	 	  

		 	Name:
		 	Title:
		
	Date:	 	                     , 20[    ]

  
 A-1-4 

 [REVERSE OF NOTE] 

This Note is one of the Notes of a duly authorized issue of Notes of the Issuer, designated as its [Floating Rate] Asset Backed Notes (herein
called the “Notes”), all issued under an Indenture dated as of October 9, 2002 (such Indenture, as amended and restated as of January 13, 2006 and March 17, 2016, and as further supplemented or amended, is herein
called the “Indenture”), as supplemented by an Asset Pool 1 Supplement dated as of October 9, 2002 (such Asset Pool 1 Supplement, as amended by Amendment No. 1 thereto, dated as of March 1, 2008, and as further
supplemented or amended, is herein called the “Asset Pool 1 Supplement”), as further supplemented by an Indenture Supplement dated as of October 9, 2002 (such Indenture Supplement, as amended and restated as of
March 17, 2016, and as further supplemented or amended, is herein called the “Indenture Supplement”), between the Issuer and The Bank of New York Mellon, as indenture trustee (the “Indenture Trustee”, which
term includes any successor Indenture Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture
Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the
Indenture, as so supplemented or amended. 
 The Class B Notes, the Class C Notes and the Class D Notes will also be issued
under the Indenture. 
 The Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in
the Indenture and the Asset Pool 1 Supplement. 
 Principal of the Notes is expected to be paid on the Expected Principal Payment Date
in an amount described on the face hereof. 
 As described above, the entire unpaid principal amount of this Note shall be due and payable
on the Legal Maturity Date. 
 On any day occurring on or after the date on which the aggregate Nominal Liquidation Amount of any Tranche of
Notes is reduced to less than 5% of its highest Outstanding Dollar Principal Amount, the Servicer or any Affiliate thereof has the right, but not the obligation, to redeem such tranche of Notes in whole but not in part, pursuant to
Section 1102 of the Indenture. The redemption price will be an amount equal to the Outstanding principal amount of such Tranche, plus interest accrued and unpaid or principal accreted and unpaid on such Tranche to but excluding the date
of redemption. 
 Subject to the terms and conditions of the Indenture, the Beneficiary, on behalf of the Trust, may from time to time
issue, or direct the Owner Trustee, on behalf of the Trust, to issue, one or more Series, Classes or Tranches of Notes. 
 On each Payment
Date, the Paying Agent shall distribute to each Noteholder of record on the related Record Date (except for the final distribution with respect to this Note) such 

  
 A-1-5 

 
Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest and principal on the Notes. Final payments of this
Note will be made only upon presentation and surrender of this Note at the office or offices therein specified. 
 [Payments of interest on
this Note due and payable on each Payment Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note
(or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the clearing agency (initially, such nominee to be
Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note
Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment
Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in
the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Registered Holder hereof as
of the Record Date preceding such Payment Date by notice mailed within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal
Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. On any payment of interest or principal being made, details of such payment shall be entered by the Indenture
Trustee on behalf of the Issuer in Schedule A hereto.] 
 As provided in the Indenture and subject to certain limitations set forth therein,
the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by a commercial bank or trust company located, or having a
correspondent located, in the City of New York or the city in which the Corporate Trust Office is located, or a member firm of a national securities exchange, and such other documents as the Indenture Trustee may require, and thereupon one or more
new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees
that by accepting the benefits of the Indenture that it will not at any time institute against the Transferor, the Master Trust or the 

  
 A-1-6 

 
Issuer, or join in any institution against the Transferor, the Master Trust or the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or any Derivative Agreement. 

Prior to the due presentment for registration of transfer of this Note, the Issuer, the Indenture Trustee and any agent of the Issuer or the
Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue,
and neither the Issuer, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Holders
of Notes representing not less than 66 2⁄3 of the Outstanding Dollar Principal Amount of each affected Series, Class or Tranche of Notes. The Indenture
also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture
and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive
certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
 The term
“Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 
 The Issuer is permitted by the
Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set
forth. 
 THIS NOTE AND THE INDENTURE WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY 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. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer,
which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

  
 A-1-7 

 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a
beneficial interest in a Note covenant and agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate
or other writing delivered in connection herewith or therewith, against (i) the Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner,
beneficiary, agent, officer, director, employee or agent of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer or the Owner Trustee or of any successor or assign of the Indenture Trustee or the Owner
Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity except as any
such Person may have expressly agreed (it being understood that the Owner Trustee has no such obligations in its individual capacity). The Holder of this Note by the acceptance hereof agrees that, except as expressly provided in the Indenture, the
Asset Pool 1 Supplement and the Indenture Supplement in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided,
however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 A-1-8 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	  
	 	

 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 
 (name and address of assignee) 

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said Note on the books kept for registration
thereof, with full power of substitution in the premises. 
  

							
	Dated:	 	  
	 		 	 *

				
		 		 		 	Signature Guaranteed:

  

	*	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 A-1-9 

 SCHEDULE A 

PART I 
 INTEREST
PAYMENTS 
  

									
	 Interest Payment Date
	    	Date of
Payment	    	Total Amount
of Interest
Payable	    	Amount of
Interest Paid	    	Confirmation of
payment by or on
behalf of the Trust
					
	 First
	    		    		    		    	
	 Second
	    		    		    		    	

 [continue numbering until the appropriate number of interest payment dates for the Notes is reached] 

  
 A-1-10 

 PART II 

PRINCIPAL PAYMENTS 
  

							
	 Date of Payment
	  	Total Amount Payable	  	Total Amount Paid	  	Confirmation of payment by
or on behalf of the Trust
		  		  		  	
		  		  		  	
	 Date of Payment
	  	Total Amount Payable	  	Total Amount Paid	  	Confirmation of payment by
or on behalf of the Trust
		  		  		  	
		  		  		  	

 [continue numbering until the appropriate number of installment dates for the Notes is reached] 

  
 A-1-11 

 EXHIBIT A-2 

[FORM OF] CLASS B NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND
AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE ISSUER, THE TRANSFEROR OR THE MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUER, THE TRANSFEROR OR THE MASTER TRUST, OF, ANY BANKRUPTCY PROCEEDINGS UNDER ANY UNITED STATES FEDERAL
OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE INDENTURE. 
 THE HOLDER
OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND
FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

  
 A-2-1 

			
	REGISTERED	  	up to $            *
	No.     	  	CUSIP NO.             

 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 

[Floating Rate] 
 CARD SERIES
CLASS B NOTE 
 Capital One Multi-asset Execution Trust, a statutory trust created under the laws of
the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of
                     payable on the             
         Payment Date (the “Expected Principal Payment Date”), except as otherwise provided below or in the Indenture; provided, however, that the entire unpaid principal amount
of this Note shall be due and payable on the                       Payment Date (the “Legal Maturity Date”). Interest will accrue on
this Note at the rate of          and shall be due and payable on each Interest Payment Date from the Monthly Interest Accrual Date in the related Monthly Period (or, in the case of the first Transfer Date,
from the date of issuance of this Note) to but excluding the first Monthly Interest Accrual Date after the end of that Monthly Period. Interest will be computed on the basis of a 360-day year [of twelve 30-day months] [and the actual number of days elapsed]. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set
forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by the Indenture Trustee whose name
appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

 

	*	Denominations of $1,000 and in integral multiples of $1,000 in excess thereof. 

  
 A-2-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer. 
  

			
	CAPITAL ONE MULTI-ASSET EXECUTION TRUST,
as Issuer
		
	By:	 	CAPITAL ONE FUNDING, LLC, as Beneficiary and not in its individual capacity
		
	By:	 	  

		 	Name:
		 	Title:
		
	Date:	 	                     , 20[    ]

  
 A-2-3 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Indenture Trustee
		
	By:	 	  

		 	Name:
		 	Title:
		
	Date:	 	                     , 20[    ]

  
 A-2-4 

 [REVERSE OF NOTE] 

This Note is one of the Notes of a duly authorized issue of Notes of the Issuer, designated as its [Floating Rate] Asset Backed Notes (herein
called the “Notes”), all issued under an Indenture dated as of October 9, 2002 (such Indenture, as amended and restated as of January 13, 2006 and March 17, 2016, and as further supplemented or amended, is herein
called the “Indenture”), as supplemented by an Asset Pool 1 Supplement dated as of October 9, 2002 (such Asset Pool 1 Supplement, as amended by Amendment No. 1 thereto, dated as of March 1, 2008, and as further
supplemented or amended, is herein called the “Asset Pool 1 Supplement”), as further supplemented by an Indenture Supplement dated as of October 9, 2002 (such Indenture Supplement, as amended and restated as of
March 17, 2016, and as further supplemented or amended, is herein called the “Indenture Supplement”), between the Issuer and The Bank of New York Mellon, as indenture trustee (the “Indenture Trustee”, which
term includes any successor Indenture Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture
Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the
Indenture, as so supplemented or amended. 
 The Class A Notes, the Class C Notes and the Class D Notes will also be issued
under the Indenture. 
 The Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in
the Indenture and the Asset Pool 1 Supplement. 
 Principal of the Notes is expected to be paid on the Expected Principal Payment Date
in an amount described on the face hereof. 
 As described above, the entire unpaid principal amount of this Note shall be due and payable
on the Legal Maturity Date. 
 On any day occurring on or after the date on which the aggregate Nominal Liquidation Amount of any Tranche of
Notes is reduced to less than 5% of its highest Outstanding Dollar Principal Amount, the Servicer or any Affiliate thereof has the right, but not the obligation, to redeem such tranche of Notes in whole but not in part, pursuant to
Section 1102 of the Indenture. The redemption price will be an amount equal to the Outstanding principal amount of such Tranche, plus interest accrued and unpaid or principal accreted and unpaid on such Tranche to but excluding the date
of redemption. 
 Subject to the terms and conditions of the Indenture, the Beneficiary, on behalf of the Trust, may from time to time
issue, or direct the Owner Trustee, on behalf of the Trust, to issue, one or more Series, Classes or Tranches of Notes. 
 On each Payment
Date, the Paying Agent shall distribute to each Noteholder of record on the related Record Date (except for the final distribution with respect to this Note) such 

  
 A-2-5 

 
Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest and principal on the Notes. Final payments of this
Note will be made only upon presentation and surrender of this Note at the office or offices therein specified. 
 [Payments of interest on
this Note due and payable on each Payment Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note
(or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the clearing agency (initially, such nominee to be
Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note
Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment
Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in
the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Registered Holder hereof as
of the Record Date preceding such Payment Date by notice mailed within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal
Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. On any payment of interest or principal being made, details of such payment shall be entered by the Indenture
Trustee on behalf of the Issuer in Schedule A hereto.] 
 As provided in the Indenture and subject to certain limitations set forth therein,
the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by a commercial bank or trust company located, or having a
correspondent located, in the City of New York or the city in which the Corporate Trust Office is located, or a member firm of a national securities exchange, and such other documents as the Indenture Trustee may require, and thereupon one or more
new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees
that by accepting the benefits of the Indenture that it will not at any time institute against the Transferor, the Master Trust or the 

  
 A-2-6 

 
Issuer, or join in any institution against the Transferor, the Master Trust or the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or any Derivative Agreement. 

Prior to the due presentment for registration of transfer of this Note, the Issuer, the Indenture Trustee and any agent of the Issuer or the
Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue,
and neither the Issuer, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Holders
of Notes representing not less than 66 2⁄3 of the Outstanding Dollar Principal Amount of each affected Series, Class or Tranche of Notes. The Indenture
also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture
and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive
certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
 The term
“Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 
 The Issuer is permitted by the
Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set
forth. 
 THIS NOTE AND THE INDENTURE WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY 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. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer,
which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

  
 A-2-7 

 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a
beneficial interest in a Note covenant and agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate
or other writing delivered in connection herewith or therewith, against (i) the Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner,
beneficiary, agent, officer, director, employee or agent of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer or the Owner Trustee or of any successor or assign of the Indenture Trustee or the Owner
Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity except as any
such Person may have expressly agreed (it being understood that the Owner Trustee has no such obligations in its individual capacity). The Holder of this Note by the acceptance hereof agrees that, except as expressly provided in the Indenture, the
Asset Pool 1 Supplement and the Indenture Supplement in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided,
however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 A-2-8 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	  
	 	

 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 
 (name and address of assignee) 

the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said Note on the books kept for registration
thereof, with full power of substitution in the premises. 
  

							
	Dated:	 	  
	 		 	 *

				
		 		 		 	Signature Guaranteed:

  

	*	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 A-2-9 

 SCHEDULE A 

PART I 
 INTEREST
PAYMENTS 
  

									
	 Interest Payment Date
	    	Date of
Payment	    	Total Amount
of Interest
Payable	    	Amount of
Interest Paid	    	Confirmation of
payment by or on
behalf of the Trust
					
	 First
	    		    		    		    	
	 Second
	    		    		    		    	

 [continue numbering until the appropriate number of interest payment dates for the Notes is reached] 

  
 A-2-10 

 PART II 

PRINCIPAL PAYMENTS 
  

							
	 Date of Payment
	  	Total Amount Payable	  	Total Amount Paid	  	Confirmation of payment by
or on behalf of the Trust
		  		  		  	
		  		  		  	
				
	 Date of Payment
	  	Total Amount Payable	  	Total Amount Paid	  	Confirmation of payment by
or on behalf of the Trust
		  		  		  	
		  		  		  	

 [continue numbering until the appropriate number of installment dates for the Notes is reached] 

  
 A-2-11 

 EXHIBIT A-3 

[FORM OF] CLASS C NOTE 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND
AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE ISSUER, THE TRANSFEROR OR THE MASTER TRUST, OR JOIN IN ANY INSTITUTION AGAINST THE ISSUER, THE TRANSFEROR OR THE MASTER TRUST, OF, ANY BANKRUPTCY PROCEEDINGS UNDER ANY UNITED STATES FEDERAL
OR STATE BANKRUPTCY OR SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE INDENTURE. 
 THE HOLDER
OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE ACQUISITION OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND
FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR MEASURED BY INCOME. 

  
 A-3-1 

					
	REGISTERED	  	 	up to $            *	  
	No.     	  	 	CUSIP NO.            	  

 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 

[Floating Rate] 
 CARD SERIES
CLASS C NOTE 
 Capital One Multi-asset Execution Trust, a statutory trust created under the laws of
the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of
                    payable on the             
        Payment Date (the “Expected Principal Payment Date”), except as otherwise provided below or in the Indenture; provided, however, that the entire unpaid principal amount
of this Note shall be due and payable on the                      Payment Date (the “Legal Maturity Date”). Interest will accrue on
this Note at the rate of         and shall be due and payable on each Interest Payment Date from the Monthly Interest Accrual Date in the related Monthly Period (or, in the case of the first Transfer Date,
from the date of issuance of this Note) to but excluding the first Monthly Interest Accrual Date after the end of that Monthly Period. Interest will be computed on the basis of a 360-day year [of twelve 30-day months] [and the actual number of days elapsed]. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set
forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by the Indenture Trustee whose name
appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

 

	*	Denominations of $1,000 and in integral multiples of $1,000 in excess thereof. 

  
 A-3-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer. 
  

			
	CAPITAL ONE MULTI-ASSET EXECUTION TRUST,
	as Issuer
		
	By:	 	CAPITAL ONE FUNDING, LLC, as Beneficiary and not in its individual capacity
		
	By:	 	  

		 	Name:
		 	Title:
		
	Date:	 	                 , 20[    ]

  
 A-3-3 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Indenture Trustee
		
	By:	 	  

		 	Name:
		 	Title:
		
	Date:	 	                 ,20[    ]

  
 A-3-4 

 [REVERSE OF NOTE] 

This Note is one of the Notes of a duly authorized issue of Notes of the Issuer, designated as its [Floating Rate] Asset Backed Notes (herein
called the “Notes”), all issued under an Indenture dated as of October 9, 2002 (such Indenture, as amended and restated as of January 13, 2006 and March 17, 2016, and as further supplemented or amended, is herein
called the “Indenture”), as supplemented by an Asset Pool 1 Supplement dated as of October 9, 2002 (such Asset Pool 1 Supplement, as amended by Amendment No. 1 thereto, dated as of March 1, 2008, and as further
supplemented or amended, is herein called the “Asset Pool 1 Supplement”), as further supplemented by an Indenture Supplement dated as of October 9, 2002 (such Indenture Supplement, as amended and restated as of
March 17, 2016, and as further supplemented or amended, is herein called the “Indenture Supplement”), between the Issuer and The Bank of New York Mellon, as indenture trustee (the “Indenture Trustee”, which
term includes any successor Indenture Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture
Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the
Indenture, as so supplemented or amended. 
 The Class A Notes, the Class B Notes and the Class D Notes will also be issued
under the Indenture. 
 The Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in
the Indenture and the Asset Pool 1 Supplement. 
 Principal of the Notes is expected to be paid on the Expected Principal Payment Date
in an amount described on the face hereof. 
 As described above, the entire unpaid principal amount of this Note shall be due and payable
on the Legal Maturity Date. 
 On any day occurring on or after the date on which the aggregate Nominal Liquidation Amount of any Tranche of
Notes is reduced to less than 5% of its highest Outstanding Dollar Principal Amount, the Servicer or any Affiliate thereof has the right, but not the obligation, to redeem such tranche of Notes in whole but not in part, pursuant to
Section 1102 of the Indenture. The redemption price will be an amount equal to the Outstanding principal amount of such Tranche, plus interest accrued and unpaid or principal accreted and unpaid on such Tranche to but excluding the date
of redemption. 
 Subject to the terms and conditions of the Indenture, the Beneficiary, on behalf of the Trust, may from time to time
issue, or direct the Owner Trustee, on behalf of the Trust, to issue, one or more Series, Classes or Tranches of Notes. 
 On each Payment
Date, the Paying Agent shall distribute to each Noteholder of record on the related Record Date (except for the final distribution with respect to this Note) such 

  
 A-3-5 

 
Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest and principal on the Notes. Final payments of this
Note will be made only upon presentation and surrender of this Note at the office or offices therein specified. 
 [Payments of interest on
this Note due and payable on each Payment Date, together with the installment of principal, if any, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note
(or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of the clearing agency (initially, such nominee to be
Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note
Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment
Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in
the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Registered Holder hereof as
of the Record Date preceding such Payment Date by notice mailed within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal
Corporate Trust Office or at the office of the Indenture Trustee’s agent appointed for such purposes located in the City of New York. On any payment of interest or principal being made, details of such payment shall be entered by the Indenture
Trustee on behalf of the Issuer in Schedule A hereto.] 
 As provided in the Indenture and subject to certain limitations set forth therein,
the transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by a commercial bank or trust company located, or having a
correspondent located, in the City of New York or the city in which the Corporate Trust Office is located, or a member firm of a national securities exchange, and such other documents as the Indenture Trustee may require, and thereupon one or more
new Notes of authorized denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the
transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees
that by accepting the benefits of the Indenture that it will not at any time institute against the Transferor, the Master Trust or the 

  
 A-3-6 

 
Issuer, or join in any institution against the Transferor, the Master Trust or the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture or any Derivative Agreement. 

Prior to the due presentment for registration of transfer of this Note, the Issuer, the Indenture Trustee and any agent of the Issuer or the
Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue,
and neither the Issuer, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 
 The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Holders
of Notes representing not less than 66 2⁄3 of the Outstanding Dollar Principal Amount of each affected Series, Class or Tranche of Notes. The Indenture
also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture
and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this
Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive
certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
 The term
“Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 
 The Issuer is permitted by the
Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 

The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to certain limitations therein set
forth. 
 THIS NOTE AND THE INDENTURE WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY 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. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer,
which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

  
 A-3-7 

 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a
beneficial interest in a Note covenant and agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate
or other writing delivered in connection herewith or therewith, against (i) the Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner,
beneficiary, agent, officer, director, employee or agent of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer or the Owner Trustee or of any successor or assign of the Indenture Trustee or the Owner
Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in its individual capacity except as any
such Person may have expressly agreed (it being understood that the Owner Trustee has no such obligations in its individual capacity). The Holder of this Note by the acceptance hereof agrees that, except as expressly provided in the Indenture, the
Asset Pool 1 Supplement and the Indenture Supplement in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided,
however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 A-3-8 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

                                         

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 
  

(name and address of assignee) 
 the within Note and all rights
thereunder, and hereby irrevocably constitutes and appoints attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 

 

									
	Dated:	 	  
	 		 		 	 *

					
		 		 		 		 	Signature Guaranteed:

  

	*	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 A-3-9 

 SCHEDULE A 

PART I 
 INTEREST
PAYMENTS 
  

									
	 Interest Payment Date
	    	Date of
Payment	    	Total Amount
of Interest
Payable	    	Amount of
Interest Paid	    	Confirmation of
payment by or on
behalf of the Trust
					
	 First
	    		    		    		    	
	 Second
	    		    		    		    	

 [continue numbering until the appropriate number of interest payment dates for the Notes is reached] 

  
 A-3-10 

 PART II 

PRINCIPAL PAYMENTS 
  

							
	 Date of Payment
	  	Total Amount Payable	  	Total Amount Paid	  	Confirmation of payment by
or on behalf of the Trust
		  		  		  	
		  		  		  	
	 Date of Payment
	  	Total Amount Payable	  	Total Amount Paid	  	Confirmation of payment by
or on behalf of the Trust
		  		  		  	
		  		  		  	

 [continue numbering until the appropriate number of installment dates for the Notes is reached] 

  
 A-3-11 

 EXHIBIT A-4 

[FORM OF] CLASS D VARIABLE FUNDING NOTE 

THIS CLASS D NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY APPLICABLE
STATE SECURITIES LAW OF ANY STATE AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS TO
ANY PERSON WHO THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING THEREOF IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) IN COMPLIANCE WITH RULE 144A OR A PERSON WHO IS AN INSTITUTIONAL
“ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT, IN EACH CASE IN COMPLIANCE WITH THE CERTIFICATION AND OTHER REQUIREMENTS SPECIFIED IN THE INDENTURE SUPPLEMENT. NONE OF THE ISSUER, THE
TRANSFEROR, THE SERVICER, THE TRANSFER AGENT, NOTE REGISTRAR OR THE INDENTURE TRUSTEE IS OBLIGATED TO REGISTER THE CLASS D NOTES UNDER THE SECURITIES ACT OR ANY OTHER SECURITIES OR “BLUE SKY” LAW. 

EACH PURCHASER REPRESENTS AND WARRANTS, FOR THE BENEFIT OF CAPITAL ONE MULTI-ASSET EXECUTION
TRUST, THAT SUCH PURCHASER IS NOT (1) AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)) WHICH IS SUBJECT TO THE PROVISIONS OF ERISA,
(2) A PLAN (AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) WHICH IS SUBJECT TO SECTION 4975 OF THE CODE, OR (3) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS
BY REASON OF ANY SUCH PLAN’S INVESTMENT IN THE ENTITY (UNLESS REGISTERED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED). 

NEITHER THIS CLASS D NOTE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED TO AN EMPLOYEE BENEFIT PLAN, TRUST OR ACCOUNT WHICH IS SUBJECT TO THE
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. 
 ANY
TRANSFER OF A DIRECT OR INDIRECT INTEREST IN THIS CLASS D NOTE IS SUBJECT TO THE PROVISIONS OF THE INDENTURE, THE ASSET POOL SUPPLEMENT, THE INDENTURE SUPPLEMENT AND THE TERMS DOCUMENT AND SUBJECT TO CERTAIN LIMITATIONS THEREIN SET FORTH. 

  
 A-3-1 

 REGISTERED 
 No.
R-1 
 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 

CARD SERIES CLASS D VARIABLE FUNDING NOTE 

Capital One Multi-asset Execution Trust (herein referred to as the
“Issuer” or the “Trust”), a Delaware statutory trust governed by a Second Amended and Restated Trust Agreement dated as of January 13, 2006, for value received, hereby promises to pay to CAPITAL
ONE FUNDING, LLC, or registered assigns, subject to the following provisions, the principal sum as determined in accordance with Indenture dated as of October 9, 2002 (such Indenture, as amended and restated as of January 13, 2006 and
March 17, 2016, and as further supplemented or amended, is herein called the “Indenture”), as supplemented by an Asset Pool 1 Supplement dated as of October 9, 2002 (such Asset Pool 1 Supplement, as amended by
Amendment No. 1 thereto, dated as of March 1, 2008, and as further supplemented or amended, is herein called the “Asset Pool 1 Supplement”), as further supplemented by an Indenture Supplement dated as of
October 9, 2002 (such Indenture Supplement, as amended and restated as of March 17, 2016, and as further supplemented or amended, is herein called the “Indenture Supplement”), as further supplemented by the
Class D Terms Document dated as of October 9, 2002 (the “Terms Document”), each between the Issuer and The Bank of New York Mellon, as Indenture Trustee (the “Indenture Trustee”). The Issuer
will pay interest and principal in accordance with the Terms Document. 
 Reference is made to the further provisions of this Note
set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 
 Unless the
certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this Note shall not be entitled to any benefit under the Indenture, the Asset Pool Supplement, the Indenture Supplement or the
Terms Document referred to on the reverse hereof, or be valid for any purpose. 
 THIS CLASS D NOTE IS SUBORDINATED TO THE EXTENT
NECESSARY TO FUND PAYMENTS ON THE CLASS A NOTES, THE CLASS B NOTES AND THE CLASS C NOTES TO THE EXTENT SPECIFIED IN THE INDENTURE SUPPLEMENT. 

  
 A-3-2 

 IN WITNESS WHEREOF, the Issuer has caused this Class D Note to be duly executed. 

 

					
	CAPITAL ONE MULTI-ASSET EXECUTION TRUST,
	as Issuer
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
		
	Date:	 	                 , 20[    ]

  
 A-3-3 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Class D Notes described in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON,
	as Indenture Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 A-3-4 

 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 

CARD SERIES 
 CARD SERIES CLASS D
VARIABLE FUNDING NOTE 
 Summary of Terms and Conditions 

This Note is one of the Notes of a duly authorized issue of Notes of the Issuer, designated as its [Floating Rate] Asset Backed Notes (herein
called the “Notes”), all issued under an Indenture dated as of October 9, 2002 (such Indenture, as amended and restated as of January 13, 2006 and March 17, 2016, and as further supplemented or amended, is herein
called the “Indenture”), as supplemented by an Asset Pool 1 Supplement dated as of October 9, 2002 (such Asset Pool 1 Supplement, as amended by Amendment No. 1 thereto, dated as of March 1, 2008, and as further
supplemented or amended, is herein called the “Asset Pool 1 Supplement”), as further supplemented by an Indenture Supplement dated as of October 9, 2002 (such Indenture Supplement, as amended and restated as of
March 17, 2016, and as further supplemented or amended, is herein called the “Indenture Supplement”), between the Issuer and The Bank of New York Mellon, as indenture trustee (the “Indenture Trustee”, which
term includes any successor Indenture Trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture
Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the
Indenture, as so supplemented or amended. 
 The Class A Notes, the Class B Notes and the Class C Notes will also be issued
under the Master Indenture, the Asset Pool Supplement and the Indenture Supplement. 
 The Noteholder, by its acceptance of this Note,
agrees that it will look solely to the property of the Issuer allocated to the payment of this Note for payment hereunder and that the Indenture Trustee is not liable to the Noteholders for any amount payable under the Note or the Indenture or,
except as expressly provided in the Indenture, subject to any liability under the Indenture. 
 This Note does not purport to summarize the
Indenture and reference is made to the Indenture for the interests, rights and limitations of rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee. 

The principal sum of this Note is described in the Terms Document. 

Subject to the terms and conditions of the Indenture, the Beneficiary, on behalf of the Trust, may from time to time issue, or direct the
Owner Trustee, on behalf of the Trust, to issue, one or more Series, Classes or Tranches of Notes. 

  
 A-3-5 

 Interest and principal payments shall be made in accordance with the Terms Document. 

This Note does not represent an obligation of, or an interest in or the assets of, the Transferor, the Servicer or any Affiliate thereof,
other than the Issuer. 
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest
in a Note, covenants and agrees that by accepting the benefits of the Indenture that it will not at any time institute against the Transferor, the Master Trust or the Issuer, or join in any institution against the Transferor, the Master Trust or the
Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the
Indenture or any Derivative Agreement. 
 The transfer of this Note shall be registered in the Note Register upon surrender of this Note for
registration of transfer at any office or agency maintained by the Note Registrar accompanied by a written instrument of transfer, in a form satisfactory to the Indenture Trustee or the Note Registrar, duly executed by the Class D Noteholder or
such Class D Noteholder’s attorney, and duly authorized in writing with such signature guaranteed, and thereupon one or more new Class D Notes in any authorized denominations of like aggregate principal amount will be issued to the
designated transferee or transferees. 
 As provided in the Indenture and subject to certain limitations therein set forth, Class D
Notes are exchangeable for new Class D Notes in any authorized denominations and of like aggregate principal amount, upon surrender of such Notes to be exchanged at the office or agency of the Note Registrar. No service charge may be imposed
for any such exchange but the Issuer or Note Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

The Issuer, the Transferor, the Indenture Trustee and any agent of the Issuer, Transferor or the Indenture Trustee shall treat the person in
whose name this Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee nor any agent of the Issuer, Transferor or the Indenture Trustee shall be affected by notice to the contrary. 

THIS CLASS D NOTE 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. 

  
 A-3-6 

 ASSIGNMENT 

Social Security or other identifying number of assignee
                                         

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                         
                    

                        
                                         
                                         
                                   (name and address of assignee) 

the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
                    , attorney, to transfer said certificate on the books kept for registration thereof, with full power of substitution in the
premises. 
  

									
	Dated:	 	  
	 		 	  
	 	1/
					
		 		 		 	Signature Guaranteed:	 	
					
		 		 		 	  
	 	

  

	1/	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any charge whatsoever.

  
 A-3-7 

 EXHIBIT B 

[FORM OF] CARD SERIES SCHEDULE TO PAYMENT INSTRUCTIONS 

 
  

CAPITAL ONE MULTI-ASSET EXECUTION TRUST, CARD SERIES 

MONTHLY PERIOD ENDING                  ,
         
  

 
 Capitalized
terms used in this notice have their respective meanings set forth in the Indenture and the Indenture Supplement. Unless otherwise qualified, references herein to certain sections and subsections are references to the respective sections and
subsections of the Indenture Supplement. This instruction is delivered pursuant to Section 5.3 of the Asset Pool 1 Supplement. 

The Servicer does hereby instruct the Issuer to instruct the Indenture Trustee, and the Issuer does hereby instruct the Indenture Trustee, to
make the following allocations and payments for the related Monthly Period on                  ,         , which date is a
Transfer Date under the COMT Pooling and Servicing Agreement, in aggregate amounts set forth below in respect of the following amounts: 
  

	I.	Allocations and Payments of Card series Finance Charge Amounts. 

  

	A.	Allocation of Card series Finance Charge Amounts pursuant to Section 3.01, to be applied on each Distribution Date by the Indenture Trustee in the following priority: 

 

							
	1.	  	 Amount of targeted deposits paid to the Interest Funding Account pursuant to Section 3.02
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 Amount paid in respect of the Card series Servicing Fee to the Servicer
	  	$	            	  
		  		  	  
	  
	 
			
	3.	  	 Amount paid in respect of any previously due and unpaid Card series Servicing Fee to the Servicer
	  	$	            	  
		  		  	  
	  
	 
			
	4.	  	 Amount of targeted deposits with respect to the Class D Notes to the Interest Funding Account pursuant to
Section 3.02
	  	$	            	  
		  		  	  
	  
	 
			
	5.	  	 Amount to be treated as Card series Principal Amounts pursuant to Section 3.07 in an amount equal to the Card series
Defaulted Amount, if any
	  	$	            	  
		  		  	  
	  
	 

  
 B-1 

							
	6.	  	 Amount to be treated as Card series Principal Amounts pursuant to Section 3.07 in an amount equal to the Nominal
Liquidation Amount Deficit, if any
	  	$	            	  
		  		  	  
	  
	 
			
	7.	  	 Amount to make the target deposit to the Accumulation Reserve Account pursuant to Section 3.24
	  	$	            	  
		  		  	  
	  
	 
			
	8.	  	 Amount to make the target deposit to the Class C Reserve Account pursuant to Section 3.22, if any
	  	$	            	  
		  		  	  
	  
	 
			
	9.	  	 Amount to make the target deposit to the Class D Reserve Account pursuant to Section 3.29, if any
	  	$	            	  
		  		  	  
	  
	 
			
	10.	  	 Amount paid or deposited as required by the terms document of any class or tranche of Card series Notes
	  	$	            	  
		  		  	  
	  
	 
			
	11.	  	 Amount to be treated as Shared Excess Finance Charge Amounts for application in accordance with Section 3.27
	  	$	            	  
		  		  	  
	  
	 
			
	12.	  	 Amount paid or deposited as required by the terms document of any class or tranche of Card series Notes
	  	$	            	  
		  		  	  
	  
	 
			
	13.	  	 Amount to paid to the holder of Asset Pool 1 Transferor Interest or the designee of the holder of the Asset Pool 1
Transferor Interest
	  	$	            	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	            	  
		  		  	  
	  
	 

  

	B.	Allocations of deposits to Interest Funding sub-Accounts pursuant to Section 3.03: 

 

									
	1.	  	 Payments to Interest Funding sub-Accounts pursuant to
Section 3.03:
	  			
				
		  	 a.
	  	 [Class/Tranche]
	  	$	            	  
		  		  		  	  
	  
	 
				
		  	 b.
	  	 [Class/Tranche]
	  	$	            	  
		  		  		  	  
	  
	 
				
		  		  	 Total
	  	$	            	  
		  		  		  	  
	  
	 

  

	C.	Payments and deposits pursuant to Section 3.04, to be received on the following dates: 

  

							
	1.	  	 Withdrawals from the Class C Reserve Account deposited into the applicable Interest Funding
sub-Account on the related Transfer Date pursuant to Section 3.23(a)
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 As of the date of receipt, Receivables Sales Proceeds deposited in the applicable Interest Funding
sub-Account as of the date of receipt by the Issuer
	  	$	            	  
		  		  	  
	  
	 

  
 B-2 

	D.	Withdrawals from the Interest Funding Account pursuant to Section 3.13, to be made by the Indenture Trustee on the following dates: 

 

							
	1.	  	 Amount withdrawn from the applicable Interest Funding sub-Accounts and remitted to the
applicable Paying Agent on each Interest Payment Date, with respect to each tranche of Dollar Notes
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 Amount withdrawn from the applicable Interest Funding sub-Accounts and converted to the
applicable foreign currency at the Spot Exchange Rate and remitted to the applicable Paying Agent for Foreign Currency Notes with a non-Performing Derivative Agreement
	  	$	            	  
		  		  	  
	  
	 
			
	3.	  	 Amount withdrawn from the applicable Interest Funding sub-Accounts and invested in the
Investor Interest of the Collateral Certificate on each Principal Payment Date, with respect to each tranche of Discount Notes
	  	$	            	  
		  		  	  
	  
	 
			
	4.	  	 Amount withdrawn from the applicable Interest Funding sub-Accounts and paid to the
applicable Derivative Party as specified in the applicable Derivative Agreement, with respect to each tranche of Notes which has a Performing Derivative Agreement for interest
	  	$	            	  
		  		  	  
	  
	 
			
	5.	  	 Amount paid to the Issuer
	  	$	            	  
		  		  	  
	  
	 

  

	II.	Allocations and Payments of Card series. 

  

	A.	Re-allocation of Card series Principal Amounts pursuant to Section 3.07(a) to be applied on the next Distribution Date by the Indenture Trustee: 

 

							
	1.	  	 Reallocated Class C Principal Collections:
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 Reallocated Class B Principal Collections:
	  	$	            	  
		  		  	  
	  
	 

  
 B-3 

	B.	Targeted Deposits of Card series Principal Amounts to the Principal Funding Account pursuant to Section 3.10, to be made by the Indenture Trustee on the following dates: 

 

							
	1.	  	 On the applicable Principal Payment Date prior to any payment, the Nominal Liquidation Amount for the related tranche of
Notes:
	  			
			
		  	a. [Class/Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	b. [Class/Tranche]	  	$	 	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	 	  
		  		  	  
	  
	 
			
	2	  	 In the applicable Principal Funding sub-Account for the related tranche of Notes, the
Controlled Accumulation Amount or the amount specified in Section 3.10(b)(ii):
	  			
			
		  	a. [Class/Tranche]	  	$	 	  
		  		  	  
	  
	 
			
		  	b. [Class/Tranche]	  	$	 	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	 	  
		  		  	  
	  
	 
			
	3	  	 In the applicable Principal Funding sub-Account, the Prefunding Target Amount for the Card
Series on the related Distribution Date:
	  			
			
		  	a. [Class/Tranche]	  	$	 	  
		  		  	  
	  
	 
			
		  	b. [Class/Tranche]	  	$	 	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	 	  
		  		  	  
	  
	 
			
	4.	  	 In the case of an Event of Default, Early Redemption Event or other optional or mandatory redemption, on the applicable Distribution
Date, the Nominal Liquidation Amount for the related Tranche of Notes:
	  			
			
		  	a. [Class/Tranche]	  	$	 	  
		  		  	  
	  
	 
			
		  	b. [Class/Tranche]	  	$	 	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	 	  
		  		  	  
	  
	 

  
 B-4 

	C.	Payments and deposits pursuant to Section 3.12, to be received on the following dates: 

  

							
	1.	  	 Withdrawals from the Class C Reserve Account deposited into the applicable Principal Funding
sub-Account on the related Distribution Date pursuant to Section 3.23(b)
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 As of the date of receipt, Receivables Sales Proceeds received pursuant to Section 3.20(c)(i) deposited in the
applicable Principal Funding sub-Account as of the date of receipt by the Issuer
	  	$	 	  
		  		  	  
	  
	 

  

	D.	Reallocations of deposits to Principal Funding sub-Accounts pursuant to Section 3.11: 

 

							
	1.	  	 Payments to Principal Funding sub-Accounts pursuant to Section 3.11(b)(i) for
the Class A Notes
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 Payments to Principal Funding sub-Accounts pursuant to Section 3.11(b)(ii) for
the Class B Notes
	  	$	 	  
		  		  	  
	  
	 
			
	3.	  	 Payments to Principal Funding sub-Accounts pursuant to Section 3.11(b)(iii) for
the Class C Notes
	  	$	 	  
		  		  	  
	  
	 

  

	E.	Withdrawals from the Principal Funding Account pursuant to Section 3.14, to be made by the Indenture Trustee on the following dates: 

 

							
	1.	  	 Amount withdrawn from the applicable Principal Funding sub-Accounts and remitted to the
applicable Paying Agent on each Principal Payment Date, with respect to each tranche of Dollar Notes
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 Amount withdrawn from the applicable Principal Funding sub-Accounts and paid to the
applicable Derivative Party as specified in the applicable Derivative Agreement, with respect to each tranche of Notes which has a Performing Derivative Agreement for Principal
	  	$	 	  
		  		  	  
	  
	 

  
 B-5 

							
			
	3.	  	 Dollar amount withdrawn from the applicable Principal Funding sub-Accounts and converted to
the applicable foreign currency at the Spot Exchange Rate pursuant to the applicable Derivative Agreement, with respect to each tranche of Notes which has a non-Performing Derivative Agreement for
principal
	  	$	            	  
		  		  	  
	  
	 
			
	4.	  	 Amount of Prefunding Excess Amount withdrawn from the Principal Funding sub-Accounts and
paid to the Master Trust to increase the Invested Amount of the Collateral Certificate
	  	$	            	  
		  		  	  
	  
	 
			
	5.	  	 Amount withdrawn from the applicable Principal Funding sub-Accounts on the Legal Maturity
Date of any tranche and applied to pay principal of that tranche or paid to the applicable Derivative Party for that tranche as specified in the applicable Derivative Agreement
	  	$	            	  
		  		  	  
	  
	 
			
	6.	  	 Amount paid to the Issuer
	  			

  

							
	 F.
	 	Amount of principal accreted on all tranches of Discount Notes and paid to the Master Trust pursuant to Section 3.17(a)	  	$	            	  
		 		  	  
	  
	 

  

	G.	Allocations of reductions from Investor Charge-Offs to the Nominal Liquidation Amount of subordinated classes pursuant to Section 3.05: 

 

							
	1.	  	 Initial allocation of Investor Charge-Offs to each tranche of Outstanding Notes
	  	$	            	  
		  		  	  
	  
	 
			
		  	Class A	  	$	            	  
		  		  	  
	  
	 
		  	Class B	  	$	            	  
		  		  	  
	  
	 
		  	Class C	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 Amount reallocated to the Class D Notes, subject to the restrictions set forth in Section 3.05(d)
	  	$	            	  
		  		  	  
	  
	 
			
	3.	  	 Amount reallocated to the Class C Notes, subject to the restrictions set forth in Section 3.05(c)
	  	$	            	  
		  		  	  
	  
	 
			
	4.	  	 Amount reallocated to the Class B Notes, subject to the restrictions set forth in Section 3.05(b)
	  	$	            	  
		  		  	  
	  
	 

  

							
	 H.
	 	Net proceeds from sales of Receivables for Accelerated Notes pursuant to Section 3.20	  	$	            	  
		 		  	  
	  
	 

  
 B-6 

	III.	Targeted deposits to, and withdrawals of funds on deposit from, the Class C Reserve Account. 

  

	A.	Targeted deposit to the Class C Reserve Account pursuant to Section 3.22(a): 

  

	B.	Deposits to the Class C Reserve sub-Accounts pursuant to Section 3.22: 

  

							
	1.	  	Sum of the Class C Reserve sub-Account deposits for each applicable tranche of Outstanding Notes:	  			
			
		  	a. [Class/Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	b. [Class/Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	            	  
		  		  	  
	  
	 

  

	C.	Withdrawals from the Class C Reserve Account pursuant to Section 3.23: 

  

							
	1.	  	 Amount withdrawn from the applicable Class C Reserve sub-Account and deposited in the
applicable Interest Funding sub-Account pursuant to Section 3.23(a):
	  			
			
		  	a. Interest Funding sub-Account for [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	b. Interest Funding sub-Account for [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 Amount withdrawn from the Class C Reserve sub-Account and deposited in the applicable
Principal Funding sub-Account pursuant to Section 3.23(b):
	  			
			
		  	a. Principal Funding sub-Account for [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	b. Principal Funding sub-Account for [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	            	  
		  		  	  
	  
	 
			
	3.	  	 Amounts paid to the Issuer pursuant to Section 3.23(c)
	  	$	            	  
		  		  	  
	  
	 

  
 B-7 

	IV.	Targeted deposits to, and withdrawals of funds on deposit from, the Class D Reserve Account. 

  

	A.	Targeted deposit to the Class D Reserve Account pursuant to Section 3.29(a): 

  

	B.	Deposits to the Class D Reserve sub-Accounts pursuant to Section 3.29: 

  

							
	1.	  	 Sum of the Class D Reserve sub-Account deposits for each applicable tranche of
Outstanding Notes:
	  			
			
		  	a. [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	b. [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	            	  
		  		  	  
	  
	 

  

	C.	Withdrawals from the Class D Reserve Account pursuant to Section 3.30: 

  

							
	1.	  	 Amount withdrawn from the applicable Class D Reserve sub-Account and deposited in the
applicable Interest Funding sub-Account pursuant to Section 3.30(a):
	  			
			
		  	a. Interest Funding sub-Account for [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	b. Interest Funding sub-Account for [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	            	  
		  		  	  
	  
	 
			
	2.	  	 Amount withdrawn from the Class D Reserve sub-Account and deposited in the applicable
Principal Funding sub-Account pursuant to Section 3.30(b):
	  			
			
		  	a. Principal Funding sub-Account for [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	b. Principal Funding sub-Account for [Tranche]	  	$	            	  
		  		  	  
	  
	 
			
		  	 Total
	  	$	            	  
		  		  	  
	  
	 
			
	3.	  	 Amounts paid to the Issuer pursuant to Section 3.30(c)
	  	$	            	  
		  		  	  
	  
	 

  
 B-8 

 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate this
     day of             ,         . 
  

			
	CAPITAL ONE BANK,
	as Administrator
		
	By:	 	  

		 	Name:
		 	Title:

  
 B-9 

 EXHIBIT C 

[FORM OF] CARD SERIES SCHEDULE TO 

MONTHLY NOTEHOLDERS’ STATEMENT 
 Date:
                 ,          

CAPITAL ONE MULTI-ASSET EXECUTION TRUST 

MONTHLY PERIOD ENDING                  ,
         
 Reference is made to the Amended and Restated Series
2002-CC Supplement (the “Series 2002-CC Supplement”), dated as of October 9, 2002, as amended and restated on March 17, 2016 between Capital One
Funding, LLC, a Virginia limited liability company (“Funding”), as Transferor, Capital One Bank (USA), National Association, a national banking association (the “Bank”), as Servicer, and The Bank of New York Mellon, as Trustee,
and the Indenture (the “Indenture”), dated as of October 9, 2002, as amended and restated as of January 13, 2006 and March 17, 2016 between Capital One Multi-asset Execution Trust, as
Issuer, and The Bank of New York Mellon, as Indenture Trustee. Terms used herein and not defined herein have the meanings ascribed to them in the Series 2002-CC Supplement, the Indenture and the related
Indenture Supplements, as applicable. 
 The following computations are prepared with respect to the Transfer Date of
                 ,          and with respect to the performance of the Trust during the related Monthly Period. 

[TO BE PROVIDED] 

  
 C-1 

					
	STATE OF DELAWARE	  	)	  	
		  	)	  	ss:
	COUNTY OF CASTLE	  	)	  	

 On this      day of
            , 20[    ], before me personally came
                    , a              of
                    , to me known to be the person described in and who executed the foregoing instrument, and duly acknowledged that [he][she]
executed the same for the purposes therein contained, and acknowledged the same to be [his][her] free act and deed. 
  

	
	  

	Name
	
	  

	[Notarial Seal]

  
 C-2 

					
	STATE OF NEW YORK	  	)	  	
		  	)	  	ss:
	COUNTY OF NEW YORK	  	)	  	

 On the      day of
            , 20[    ], before me personally came
                     to me known, who, being by me duly sworn, did depose and say that s/he is the
                     of The Bank of New York Mellon, one of the entities described in and which executed the foregoing instrument; that s/he signed
his/her name to the said instrument and that s/he has been authorized by The Bank of New York Mellon to execute the foregoing instrument. 
  

	
	  

	Notary Public

 
			
		
	 My Commission Expires
	 	  

  

	
	  

	Notarial Seal

  
 C-3Exhibit 4.6

 EXHIBIT 4.6 
  

 
  

ASSET REPRESENTATIONS REVIEW AGREEMENT 

CAPITAL ONE FUNDING, LLC, 

as Transferor 
 and 

CAPITAL ONE BANK (USA), NATIONAL ASSOCIATION, 

as Servicer and in its individual capacity 

and 
 CLAYTON
FIXED INCOME SERVICES LLC, 
 as Asset Representations Reviewer 

 
  

CAPITAL ONE MASTER TRUST 

Dated as of March 17, 2016 
  

 
  

 
  

 TABLE OF CONTENTS 

 

							
	SECTION	  	HEADING	  	PAGE	 
			
	 ARTICLE I.
	  	 DEFINITIONS
	  	 	2	  
			
	 Section 1.01.
	  	 Definitions
	  	 	2	  
	 Section 1.02.
	  	 Additional Definitions
	  	 	2	  
			
	 ARTICLE II.
	  	 ENGAGEMENT; ACCEPTANCE
	  	 	5	  
			
	 Section 2.01.
	  	 Engagement; Acceptance
	  	 	5	  
	 Section 2.02.
	  	 Independence of the Asset Representations Reviewer
	  	 	6	  
			
	 ARTICLE III.
	  	 DUTIES OF THE ASSET REPRESENTATIONS
REVIEWER
	  	 	6	  
			
	 Section 3.01.
	  	 Review Scope
	  	 	6	  
	 Section 3.02.
	  	 Review Notices
	  	 	6	  
	 Section 3.03.
	  	 Review Materials
	  	 	7	  
	 Section 3.04.
	  	 Missing or Incomplete Materials
	  	 	7	  
	 Section 3.05.
	  	 The Asset Representations Review
	  	 	7	  
	 Section 3.06.
	  	 Review Period
	  	 	8	  
	 Section 3.07.
	  	 Completion of Review for Certain Review Receivables
	  	 	8	  
	 Section 3.08.
	  	 Duplicative Test
	  	 	8	  
	 Section 3.09.
	  	 Termination of Review
	  	 	8	  
	 Section 3.10.
	  	 Review Report
	  	 	8	  
	 Section 3.11.
	  	 Review and Procedure Limitations
	  	 	9	  
	 Section 3.12.
	  	 Review Systems
	  	 	10	  
	 Section 3.13.
	  	 Representatives
	  	 	10	  
	 Section 3.14.
	  	 Dispute Resolution
	  	 	10	  
	 Section 3.15.
	  	 Records Retention
	  	 	10	  
			
	 ARTICLE IV.
	  	 PAYMENTS TO ASSET REPRESENTATIONS
REVIEWER
	  	 	11	  
			
	 Section 4.01.
	  	 Asset Representations Reviewer Fees
	  	 	11	  
	 Section 4.02.
	  	 Reimbursable Expenses
	  	 	11	  
			
	 ARTICLE V.
	  	 OTHER MATTERS PERTAINING TO THE
ASSET REPRESENTATIONS REVIEWER
	  	 	11	  
			
	 Section 5.01.
	  	 Representations and Warranties of the Asset Representations Reviewer
	  	 	11	  
	 Section 5.02.
	  	 Limitation of Liability
	  	 	12	  
	 Section 5.03.
	  	 Indemnification of Asset Representations Reviewer
	  	 	13	  
	 Section 5.04.
	  	 Indemnification by Asset Representations Reviewer
	  	 	13	  
	 Section 5.05.
	  	 Covenants
	  	 	14	  
	 Section 5.06.
	  	 Inspections of Asset Representations Reviewer
	  	 	14	  

  
 -i- 

							
			
	 ARTICLE VI.
	  	 REMOVAL, RESIGNATION
	  	 	15	  
			
	 Section 6.01.
	  	 Removal of Asset Representations Reviewer
	  	 	15	  
	 Section 6.02.
	  	 Appointment of Successor
	  	 	15	  
	 Section 6.03.
	  	 Merger or Consolidation of, or Assumption of the Obligations of, the Asset Representations Reviewer
	  	 	16	  
	 Section 6.04.
	  	 Asset Representations Reviewer Not to Resign
	  	 	16	  
	 Section 6.05.
	  	 Delegation of Obligations
	  	 	17	  
			
	 ARTICLE VII.
	  	 TREATMENT OF CONFIDENTIAL INFORMATION
	  	 	17	  
			
	 Section 7.01.
	  	 Confidential Information
	  	 	17	  
	 Section 7.02.
	  	 Safeguarding Personally Identifiable Information
	  	 	19	  
			
	 ARTICLE VIII.
	  	 TERMINATION
	  	 	22	  
			
	 Section 8.01.
	  	 Termination of Agreement
	  	 	22	  
			
	 ARTICLE IX.
	  	 MISCELLANEOUS PROVISIONS
	  	 	22	  
			
	 Section 9.01.
	  	 Amendment
	  	 	22	  
	 Section 9.02.
	  	 Notices
	  	 	23	  
	 Section 9.03.
	  	 Entire Agreement; Severability Clause
	  	 	24	  
	 Section 9.04.
	  	 Counterparts
	  	 	24	  
	 Section 9.05.
	  	 Governing Law
	  	 	24	  
	 Section 9.06.
	  	 Captions
	  	 	25	  
	 Section 9.07.
	  	 Waivers
	  	 	25	  
	 Section 9.08.
	  	 Assignment
	  	 	25	  
	 Section 9.09.
	  	 Benefit of This Agreement; Third-Party Beneficiaries
	  	 	25	  
	 Section 9.10.
	  	 Exhibits
	  	 	25	  
	 Section 9.11.
	  	 Nonpetition Covenant
	  	 	25	  

 EXHIBITS 

Exhibit A 

  
 -ii- 

 ASSET REPRESENTATIONS REVIEW
AGREEMENT 
 This ASSET REPRESENTATIONS REVIEW AGREEMENT
(this “Agreement”), entered into as of the 17th day of March, 2016, by and among CAPITAL ONE FUNDING, LLC, a Virginia limited liability company (together with its successors and assigns,
“Funding”), as Transferor (the “Transferor”), CAPITAL ONE BANK (USA), NATIONAL ASSOCIATION, a national banking association, in its
individual capacity (together with its successors and assigns, “Capital One”), and as Servicer (the “Servicer”), and Clayton Fixed Income Services LLC, a Delaware limited liability company, as Asset Representations
Reviewer (the “Asset Representations Reviewer”). 
 WHEREAS, in the normal course of its business Capital
One originates and acquires credit card accounts and receivables in such credit card accounts. 
 WHEREAS, Capital One sells
the receivables (the “Receivables”) arising in a subset of the credit card accounts (such subset, the “Accounts”) that it owns to Funding, pursuant to the Amended and Restated Receivables Purchase Agreement, dated
as of August 1, 2002, as amended and restated as of July 1, 2007, and as amended on March 1, 2008 and March 17, 2016, among Capital One and Funding (that agreement, as amended, together with each predecessor agreement, as the
same may in the future be amended, supplemented or otherwise modified, the “Receivables Purchase Agreement”). 

WHEREAS, Funding securitizes the Receivables that it buys from Capital One by selling the Receivables to The Bank of
New York Mellon, as trustee (the “COMT Trustee”) of the Capital One Master Trust (“COMT”), pursuant to the Amended and Restated Pooling and Servicing Agreement, dated as of September 30, 1993, as amended
and restated as of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016, among Funding, the Servicer and the COMT Trustee (that agreement, together with each predecessor agreement, as the same may in the
future be amended, supplemented or otherwise modified, the “Pooling and Servicing Agreement”). COMT is a common law trust formed pursuant to the Pooling and Servicing Agreement. Pursuant to the Amended and Restated Series 2002-CC Supplement, dated as of October 9, 2002, as amended and restated as of March 17, 2016, among the Transferor, the Servicer and the COMT Trustee (as the same has been and may in the
future be amended, supplemented or otherwise modified from time to time, the “Series 2002-CC Supplement”), COMT issued the Series 2002-CC Certificate
representing an undivided interest in the pool of Receivables held by the COMT Trustee (the “Collateral Certificate”); that Collateral Certificate is currently held by Capital One Multi-asset Execution Trust, a Delaware statutory
trust (the “Note Issuer”) as collateral for notes that have been and will be issued from time to time by the Note Issuer (the “Notes”). 

WHEREAS, the Servicer has determined to engage the Asset Representations Reviewer to perform reviews of certain Receivables
and, to the extent necessary to such reviews, the related Accounts for compliance with certain representations and warranties made by Capital One and Funding, as applicable, about the Receivables. 

 NOW, THEREFORE, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I. 

DEFINITIONS 

Section 1.01. Definitions. Capitalized terms used but not defined in this Agreement have the meanings ascribed to those terms in
(i) the Receivables Purchase Agreement, (ii) the Pooling and Servicing Agreement, or (iii) the Series 2002-CC Supplement, as applicable. 

Section 1.02. Additional Definitions. Whenever used in this Agreement, the following words and phrases shall have the following
meanings: 
 “ABS Issuance Date” means any date, following the date of this Agreement, on which (i) any Investor
Certificate is issued by COMT or (ii) any Note is issued by the Note Issuer. 
 “Accounts” has the meaning specified
in the recitals of this Agreement. 
 “Agreement” has the meaning specified in the first paragraph of this Agreement. 

“ARR Indemnified Person” has the meaning stated in Section 5.03. 

“Asset Representations Reviewer” has the meaning specified in the first paragraph of this Agreement. 

“Business Day” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Capital One” has the meaning specified in the first paragraph of this Agreement 

“Capital One Indemnified Person” has the meaning stated in Section 5.04. 

“Client Records” has the meaning stated in Section 3.15. 

“Collateral Certificate” has meaning specified in the recitals of this Agreement. 

“COMT” has the meaning specified in the recitals of this Agreement. 

“COMT Trustee” has the meaning specified in the recitals of this Agreement. 

“Confidential Information” has the meaning stated in Section 7.01(a). 

“Debtor Relief Laws” shall have the meaning specified in the Pooling and Servicing Agreement. 

  
 -2- 

 “Disclosing Party” has the meaning stated in Section 7.01(a). 

“Dispute Resolution Agreement” means the Dispute Resolution Agreement, dated as of March 17, 2016, by and among Funding,
Capital One and the COMT Trustee, as the same may be amended, supplemented or otherwise modified from time to time. 
 “Dispute
Resolution Proceeding” means any proceeding under Section 2.12 of the Pooling and Servicing Agreement, Section 6.03 of the Receivables Purchase Agreement, or Section 2.01 of the Dispute Resolution Agreement. 

“Disqualification Event” has the meaning stated in Section 6.01(a). 

“Eligible Asset Representations Reviewer” means a Person who (i) is not affiliated with Capital One, the Transferor, the
Servicer, the COMT Trustee, the Indenture Trustee, the Owner Trustee, or any of their respective affiliates, and (ii) was not engaged, nor affiliated with a Person that was engaged, by Capital One, the Transferor, or any underwriter of the
Investor Certificates or Notes to perform due diligence work on the Receivables or the Accounts in connection with the closing for an issuance of such Investor Certificates or Notes. 

“Eligible Representations” shall mean those representations identified within the “Tests” included in
Exhibit A. 
 “Engagement Date” means March 17, 2016. 

“Final Review Report” has the meaning stated in Section 3.10. 

“Funding” has the meaning specified in the first paragraph of this Agreement. 

“Governmental Authority” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Indenture” means the Indenture, dated as of October 9, 2002, as amended and restated as of January 13, 2006 and
March 17, 2016, between the Note Issuer and the Indenture Trustee, together with each predecessor agreement, as the same may in the future be amended, supplemented or otherwise modified from time to time. 

“Indenture Trustee” means The Bank of New York Mellon, as indenture trustee under the Indenture. 

“Insolvency Event” means the Asset Representations Reviewer shall consent to the appointment of a conservator, receiver,
trustee or liquidator in any insolvency, bankruptcy, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Asset Representations Reviewer or relating to all or substantially all of its property, or
a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver, trustee or liquidator in any insolvency, bankruptcy, readjustment of debt, marshalling of assets and
liabilities or similar proceedings, or 

  
 -3- 

 
for the winding up or liquidation of its affairs, shall have been entered against the Asset Representations Reviewer; or the Asset Representations Reviewer shall admit in writing its inability to
pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency, bankruptcy or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations.

 “Investor Certificate” has the meaning specified in the Pooling and Servicing Agreement. 

“Investor Certificateholder” has the meaning specified in the Pooling and Servicing Agreement. 

“Note Issuer” has the meaning specified in the recitals of this Agreement. 

“Notes” has the meaning specified in the recitals of this Agreement. 

“Obligor” has the meaning specified in the Pooling and Servicing Agreement. 

“Personally Identifiable Information,” or “PII,” has the meaning stated in Section 7.02(a). 

“Pooling and Servicing Agreement” has the meaning specified in the recitals of this Agreement. 

“Preliminary Review Report” has the meaning stated in Section 3.10. 

“Receivables” has the meaning specified in the recitals of this Agreement. 

“Receivables Purchase Agreement” has the meaning specified in the recitals of this Agreement. 

“Receiving Party” has the meaning stated in Section 7.01(a). 

“Representatives” has the meaning stated in Section 7.01(a). 

“Representing Party” has the meaning specified in the Pooling and Servicing Agreement, the Receivables Purchase Agreement, or
the Dispute Resolution Agreement, as applicable. 
 “Requesting Party” has the meaning specified in the Pooling and
Servicing Agreement, the Receivables Purchase Agreement, or the Dispute Resolution Agreement, as applicable. 
 “Review”
means the performance by the Asset Representations Reviewer of the procedures listed under “Tests” in Exhibit A for the Review Receivables and Review Accounts, as further described in Article III. 

  
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 “Review Accounts” means those Accounts identified by the Servicer as requiring a
Review by the Asset Representations Reviewer following receipt of a Review Notice pursuant to Section 3.02. 
 “Review
Fee” has the meaning stated in Section 4.01(b). 
 “Review Materials” means, for a Review, the documents,
data, and other information listed in Exhibit A. 
 “Review Notice” has the meaning stated in Section 3.02. 

“Review Receivables” means those Receivables identified by the Servicer as requiring a Review by the Asset Representations
Reviewer following receipt of a Review Notice pursuant to Section 3.02. 
 “Review Report” means each of the
Preliminary Review Report and the Final Review Report. 
 “Security Breach” has the meaning stated in Section 7.02(d). 

“Series 2002-CC Supplement” has the meaning specified in the recitals of this Agreement. 

“Servicer” has the meaning specified in the first paragraph of this Agreement. 

“Supplemental Review Materials” has the meaning stated in Section 3.10. 

“Tests” mean the procedures listed in Exhibit A as applied to the process described in Section 3.05. 

“Test Complete” has the meaning stated in Section 3.07. 

“Test Fail” has the meaning stated in Section 3.05. 

“Test Incomplete” has the meaning stated in Section 3.04. 

“Test Pass” has the meaning stated in Section 3.05. 

“Transferor” has the meaning specified in the first paragraph of this Agreement. 

ARTICLE II. 

ENGAGEMENT; ACCEPTANCE 

Section 2.01. Engagement; Acceptance. The Servicer engages Clayton Fixed Income Services LLC to act as the Asset Representations
Reviewer. The Asset Representations Reviewer accepts the engagement and agrees to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement. 

  
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 Section 2.02. Independence of the Asset Representations Reviewer. The Asset
Representations Reviewer will be an independent contractor and will not be subject to the supervision of the Transferor, Capital One or the Servicer for the manner in which it accomplishes the performance of its obligations under this Agreement. The
Asset Representations Reviewer will have no authority to act for or represent the Transferor or the Servicer and is not being appointed as, and will not be considered, an agent of the Transferor, Capital One or the Servicer. Nothing in this
Agreement will make the Asset Representations Reviewer and any of the Transferor, Capital One or the Servicer, members of any partnership, joint venture or other separate entity or impose any liability as such on any of them. 

ARTICLE III. 

DUTIES OF THE ASSET REPRESENTATIONS REVIEWER

 Section 3.01. Review Scope. The Review is designed to determine whether the Review Receivables and Review Accounts were
not in compliance with the Eligible Representations. 
 The Review is not designed to determine any of the following: 

(a) Reason for delinquency; 

(b) Creditworthiness of the Obligor, either at the time of the Review or as of the Review Receivable or Review Account creation
date; 
 (c) Overall quality of any Review Receivable or Review Account; 

(d) Whether the Servicer has serviced any Review Receivable or Review Account in compliance with the Pooling and Servicing
Agreement; 
 (e) Whether noncompliance with the representations or warranties constitutes a breach of the provisions of
either the Pooling and Servicing Agreement or the Receivables Purchase Agreement; 
 (f) Whether the Review Receivables or
Review Accounts were in compliance with the representations and warranties set forth in the Receivables Purchase Agreement or the Pooling and Servicing Agreement, except as expressly described in this Agreement; or 

(g) To establish cause, materiality or recourse for any Test Fail. 

Section 3.02. Review Notices. Upon receipt of a notice (a “Review Notice”) from the Servicer pursuant to the
terms of the Pooling and Servicing Agreement and upon obtaining access to any Review Materials as provided in Section 3.03, the Asset Representations Reviewer 

  
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will start its Review. Once the Review Notice is issued, the Servicer will deliver a current list that identifies each Review Account and the balance of the Review Receivables to the Asset
Representations Reviewer within twenty (20) days. 
 The Asset Representations Reviewer is not obligated to verify (i) whether the
Servicer properly determined that a Review Notice was required or (ii) the accuracy or completeness of the list of Review Accounts or the balance of the Review Receivables made available by the Servicer. 

Section 3.03. Review Materials. The Servicer will give the Asset Representations Reviewer access to the Review Materials for all
of the Review Receivables and Review Accounts within sixty (60) days after issuance of the Review Notice in one or more of the following ways: (i) by providing access to the Servicer’s receivables systems, either remotely or at an
office of the Servicer, (ii) by electronic posting to a password-protected website to which the Asset Representations Reviewer has access, (iii) by providing originals or photocopies at an office of
the Servicer where the documents relating to the Receivables and the related Accounts are located or (iv) in another manner agreed to by each of the Servicer and the Asset Representations Reviewer. The Servicer may redact or remove Personally
Identifiable Information from the Review Materials without changing the meaning or usefulness of the Review Materials for the Review. 
 If
the Servicer provides access to the Review Materials at one of its offices, such access will be afforded without charge but only (i) upon reasonable notice, (ii) during normal business hours, (iii) subject to the Servicer’s
normal security and confidentiality procedures and (iv) at offices designated by the Servicer. 
 Section 3.04. Missing or
Incomplete Materials. Upon obtaining access to the Review Materials, the Asset Representations Reviewer will review the Review Materials to determine if any documents, data, or other information are missing or incomplete and, as a result, are
insufficient for the Asset Representations Reviewer to perform any Test. If the Asset Representations Reviewer determines that there are any such missing or incomplete documents, data, or other information, the Asset Representations Reviewer will
notify the Servicer promptly, and in any event no more than twenty (20) days after obtaining access to the Review Materials, specifying what information is missing or incomplete. The Servicer will have thirty (30) days to provide the Asset
Representations Reviewer access to the missing or incomplete documents, data or other information. If access to the missing or incomplete documents, data, or other information has not been provided by the Servicer within thirty (30) days from
the date that the Asset Representations Reviewer gave notice of such documents, data, or other information’s absence or incompleteness, the Asset Representations Reviewer will identify the associated Tests as “Test Incomplete.”

 Section 3.05. The Asset Representations Review. When required under the terms of this Agreement, the Asset Representations
Reviewer will perform a Review. In the course of a Review, the Asset Representations Reviewer will use the Review Materials provided or made available by the Servicer pursuant to Sections 3.03 and 3.04, as well as any Supplemental Review
Materials provided or made available pursuant to Section 3.10. For each Test, the Asset Representations Reviewer will determine if the Test has been satisfied (a “Test Pass”) or if the Test has not been satisfied (a
“Test Fail”). 

  
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 Section 3.06. Review Period. (a) The Asset Representations Reviewer will
complete the Review within ninety (90) days of receiving access to substantially all of the Review Materials as provided in Section 3.03, or such longer period of time (not to exceed an additional thirty (30) days) as the parties to
this Agreement may agree. If additional Review Materials are made available to the Asset Representations Reviewer as described in Section 3.04, the Review period will be extended for an additional thirty (30) days beyond the period
determined in accordance with the preceding sentence. 
 (b) If Supplemental Review Materials are made available to the Asset
Representations Reviewer as described in Section 3.10, the Review period will be re-opened and the Asset Representations Reviewer will complete the Review on the basis of such Supplemental Review
Materials within thirty (30) days of receiving access to those Supplemental Review Materials, or such longer period of time (not to exceed an additional fifteen (15) days) as the parties to this Agreement may agree. 

Section 3.07. Completion of Review for Certain Review Receivables. Following the delivery of the list of Review Accounts and the
balance of the Review Receivables, and before the delivery of any Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if the Review Receivables with respect to any Review Account have been
paid in full by the related Obligor or repurchased by the Transferor or purchased by the Servicer according to the terms of the Pooling and Servicing Agreement. Upon receipt of such notice, the Asset Representations Reviewer will immediately
terminate all Tests of such Review Receivables and related Review Accounts and the Review of such Review Receivables and related Review Accounts will be considered complete (a “Test Complete”). In this case, each Review Report will
indicate a Test Complete for such Review Receivables and related Review Accounts and the related reason. 
 Section 3.08.
Duplicative Test. If any Review Receivable or Review Account was included in a prior Review, the Asset Representations Reviewer will not perform any Tests on it, but will include the results of the previous Tests in each Review Report for the
current Review. If the same Test is required for more than one Eligible Representation, the Asset Representations Reviewer will perform the Test only once for each Review Receivable or Review Account but will report the results of the Test for each
applicable representation or warranty on each Review Report. 
 Section 3.09. Termination of Review. If a Review is in process
and the Invested Amount of all Investor Certificates will be reduced to zero on the next Distribution Date, the Servicer will notify the Asset Representations Reviewer no less than ten (10) days before that Distribution Date. On receipt of such
notice, the Asset Representations Reviewer will terminate the Review immediately and will not be obligated to deliver any Review Report. 

Section 3.10. Review Report. Within ten (10) days following the end of the Review period described in Section 3.06(a),
the Asset Representations Reviewer will provide the 

  
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Servicer with a preliminary Review Report (a “Preliminary Review Report”) setting out each preliminary Test result (i.e., Test Pass, Test Fail or Test Complete) for the
Review Receivables and Review Accounts. The Servicer will provide the Preliminary Review Report to the Transferor and Capital One within two (2) Business Days of the Servicer’s receipt of the report. If, within thirty (30) days of the
date that the Transferor and Capital One receive the Preliminary Review Report, the Servicer receives additional documents, data, or other information (collectively, “Supplemental Review Materials”) to potentially refute any finding
in the Preliminary Review Report, the Servicer will within two (2) Business Days of its receipt, make such Supplemental Review Materials available to the Asset Representations Reviewer in one or more of the ways set forth in Section 3.03.
The Asset Representations Reviewer will then consider such Supplemental Review Materials and, within ten (10) days following the end of the Review period described in Section 3.06(b), either confirm or revise its Preliminary Review Report
and provide the Servicer and the COMT Trustee with a final Review Report (a “Final Review Report”) setting out each final Test result (i.e., Test Pass, Test Fail or Test Complete) for the Review Receivables and Review
Accounts. 
 If, within forty (40) days after the date that the Asset Representations Reviewer provided its Preliminary Review Report to the Servicer,
the Servicer has not made available to the Asset Representations Reviewer Supplemental Review Materials to potentially refute a finding in the Preliminary Review Report, within ten (10) days following such fortieth (40th) day, the Asset
Representations Reviewer will provide the Servicer and the COMT Trustee with a Final Review Report (which will be based on the findings set forth in the Preliminary Review Report). The Servicer will provide the Final Review Report to the Transferor
and Capital One within two (2) Business Days of receipt of the report. 
 Each Review Report will include a summary containing the information required
to be included in COMT’s or the Note Issuer’s Form 10-D report for the Monthly Period in which the Final Review Report is provided to the Servicer and the COMT Trustee. No Review Report shall contain
any PII in any form relating to Obligors, as determined by the Asset Representations Reviewer with the concurrence of the Servicer. Upon reasonable request of the Servicer, the Asset Representations Reviewer will provide additional detail on the
preliminary or final Test results. 
 Section 3.11. Review and Procedure Limitations. (a) The Asset Representations
Reviewer will have no obligation (i) to determine whether a Delinquency Trigger has occurred, (ii) to determine whether the required percentage of Investor Certificateholders has voted to direct a Review, (iii) to determine which
Accounts and/or Receivables are subject to a Review, (iv) to obtain or confirm the validity of the Review Materials, (v) except to the extent of its express obligations under Section 3.04, to obtain missing or incomplete documents,
data, or other information, or (vi) to take any action or cause any other party to take any action under the Pooling and Servicing Agreement to enforce any remedies for breaches of representations or warranties about the Eligible
Representations. 
 (b) The Asset Representations Reviewer will be required to perform only the Tests provided in Exhibit A in
consideration of the Review Materials and any Supplemental Review Materials and will have no obligation to perform additional testing procedures on the Review 

  
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Receivables or Review Accounts, or, subject to Sections 3.04 and 3.10, to consider any additional information provided by any party. The Asset Representations Reviewer will have no
obligation to provide reporting or information in addition to that expressly set forth in this Agreement. However, the Asset Representations Reviewer may review and report on additional information that it determines in good faith to be material to
its performance under this Agreement. 
 Section 3.12. Review Systems. The Asset Representations Reviewer will maintain and
utilize an electronic case management system to manage the Tests and provide systematic control over each step in the Review process and ensure consistency and repeatability among the Tests. 

Section 3.13. Representatives. 

(a) Servicer Representative. The Servicer will provide reasonable access to one or more designated representatives to respond to
reasonable requests and inquiries made by the Asset Representations Reviewer in its completion of a Review. 
 (b) Asset Representations
Review Representative. The Asset Representations Reviewer will provide reasonable access to one or more designated representatives to respond to reasonable requests and inquiries made by the Servicer during the Asset Representations
Reviewer’s completion of a Review. The Asset Representations Reviewer will have no obligation to respond to requests or inquiries made by any Person not party to this Agreement. 

Section 3.14. Dispute Resolution. If a Receivable that was Reviewed by the Asset Representations Reviewer is the subject of a
Dispute Resolution Proceeding, the Asset Representations Reviewer will participate in the Dispute Resolution Proceeding on request of a party to the proceeding. The reasonable out-of-pocket expenses of the Asset Representations Reviewer for its
participation in any Dispute Resolution Proceeding will be paid by a party to the Dispute Resolution Proceeding as determined (i) if the Requesting Party selects mediation as the resolution method, as mutually agreed upon by the Representing
Party and the Requesting Party as part of the mediation, and (ii) if the Requesting Party selects arbitration as the resolution method, in accordance with the final determination of the arbitrator. 

Section 3.15. Records Retention. The Asset Representations Reviewer will maintain copies of Review Materials, Supplemental Review
Materials, Review Reports and internal work papers and correspondence (collectively the “Client Records”) for a period of three (3) years after the termination of this Agreement. At the expiration of the retention period, the
Asset Representations Reviewer shall return all Client Records to the Servicer. Upon the return of the Client Records, the Asset Representations Reviewer shall have no obligation to retain such Client Records or to respond to inquiries concerning
the related Review. 

  
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 ARTICLE IV. 

PAYMENTS TO ASSET REPRESENTATIONS REVIEWER 

Section 4.01. Asset Representations Reviewer Fees. 

(a) Annual Fee. As compensation for its activities hereunder, the Asset Representations Reviewer shall be entitled to receive an annual
fee (the “Annual Fee”) equal to the amount separately agreed to by the Servicer and the Asset Representations Reviewer with respect to each annual period prior to the termination of this Agreement. The Annual Fee will be initially
payable on the date of this Agreement and then payable annually on each anniversary of the date of this Agreement upon receipt of a detailed invoice. 

(b) Review Fee. Following the completion of a Review and delivery of the Final Review Report and a detailed invoice, the Asset
Representations Reviewer shall be entitled to a fee equal to the amount separately agreed to by the Servicer and the Asset Representations Reviewer (the “Review Fee”). 

Section 4.02. Reimbursable Expenses. If the Servicer provides access to the Review Materials at one of its offices, the Servicer
will reimburse the Asset Representations Reviewer for its reasonable travel expenses incurred in connection with the Review after receipt of a detailed invoice for such expenses. If the Asset Representations Reviewer participates in a Dispute
Resolution Proceeding under Section 3.14 and its reasonable expenses for participating in the proceeding are not paid by a party to the Dispute Resolution Proceeding within ninety (90) days after the end of the proceeding, the Servicer
will reimburse the Asset Representations Reviewer for such expenses upon receipt of a detailed invoice. If the Servicer makes any payment under this Section 4.02 and the Asset Representations Reviewer later collects any of the amounts for which
the payments were made to it from others, the Asset Representations Reviewer will promptly repay the amounts to the Servicer. 

ARTICLE V. 

OTHER MATTERS PERTAINING TO THE ASSET
REPRESENTATIONS REVIEWER 
 Section 5.01. Representations and Warranties of the Asset
Representations Reviewer. The Asset Representations Reviewer hereby makes the following representations and warranties as of each ABS Issuance Date: 

(a) Organization and Good Standing. The Asset Representations Reviewer is a limited liability company duly formed and
validly existing in good standing under the laws of the State of Delaware, with the power and authority to own its properties and to conduct its business as such properties are currently owned and such business is presently conducted, and has the
power, authority and legal right to perform its obligations under this Agreement. 

  
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 (b) Due Qualification. The Asset Representations Reviewer is duly
qualified to do business and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications. 

(c) Due Authorization. The execution, delivery and performance by the Asset Representations Reviewer of this Agreement
have been duly authorized by the Asset Representations Reviewer by all necessary limited liability company action on the part of the Asset Representations Reviewer and this Agreement will remain, from the time of its execution, an official record of
the Asset Representations Reviewer. 
 (d) Binding Obligation. This Agreement constitutes a legal, valid and binding
obligation of the Asset Representations Reviewer enforceable in accordance with its terms subject to bankruptcy, insolvency and other similar laws affecting creditors’ rights generally and subject to equitable principles. 

(e) No Violation. The execution and delivery of this Agreement by the Asset Representations Reviewer, and the
performance by the Asset Representations Reviewer of the obligations contemplated by this Agreement and the fulfillment by the Asset Representations Reviewer of the terms hereof applicable to the Asset Representations Reviewer, will not conflict
with, violate, result in any breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a default under, any Requirements of Law applicable to the Asset Representations Reviewer or any
indenture, contract, agreement, or other instrument to which the Asset Representations Reviewer is a party or by which it is bound. 

(f) No Proceedings. There are no proceedings or investigations pending or, to the best knowledge of the Asset
Representations Reviewer, threatened against the Asset Representations Reviewer before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality seeking to prevent the issuance of any Investor Certificates
or Notes or the consummation of any of the transactions contemplated by this Agreement, seeking any determination or ruling that, in the reasonable judgment of the Asset Representations Reviewer, would materially and adversely affect the performance
by the Asset Representations Reviewer of its obligations under this Agreement, or seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement. 

(g) Eligibility. The Asset Representations Reviewer is an Eligible Asset Representations Reviewer. 

Section 5.02. Limitation of Liability. The Asset Representations Reviewer will not be liable to any Person for any action taken,
or not taken, in good faith under this Agreement or for errors in judgment; provided, however, that the Asset Representations Reviewer will be liable for its willful misconduct, bad faith or negligence in performing its obligations under this
Agreement. In no event will the Asset Representations Reviewer be liable for special, indirect, or consequential losses or damages (including lost profit), even if the Asset Representations Reviewer has been advised of the likelihood of the loss or
damage and regardless of the form of action. 

  
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 Section 5.03. Indemnification of Asset Representations Reviewer. (a) The
Servicer will indemnify the Asset Representations Reviewer and its officers, directors, employees and agents (each, an “ARR Indemnified Person”), for all reasonable and documented costs, expenses, losses, damages and liabilities
resulting from any third-party claim arising out of the performance of the Asset Representations Reviewer’s obligations under this Agreement (including the reasonable and documented costs and expenses of defending itself against any loss,
damage or liability), but excluding any cost, expense, loss, damage or liability resulting from (i) the Asset Representations Reviewer’s willful misconduct, bad faith or negligence or (ii) the Asset Representations Reviewer’s
breach of any of its representations, warranties or covenants in this Agreement. 
 (b) In case any such action, investigation or proceeding
will be brought involving an ARR Indemnified Person, the Servicer will assume the defense thereof, including the employment of counsel and the payment of all expenses. The Asset Representations Reviewer will have the right to employ separate counsel
in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable and documented fees and expenses of such counsel will be paid by the Servicer. 

(c) The indemnification set forth herein will survive the termination of this Agreement and the resignation or removal of the Servicer. 

(d) If the Servicer makes any payment under this Section 5.03 and the ARR Indemnified Person later collects any of the amounts for which
the payments were made to it from others, the ARR Indemnified Person will promptly repay the amounts to the Servicer. 

Section 5.04. Indemnification by Asset Representations Reviewer. (a) To the fullest extent permitted by law, the Asset
Representations Reviewer shall indemnify and hold harmless the Transferor, Capital One and the Servicer, and each of their officers, directors, successors, assigns, legal representatives, agents, and servants (each, a “Capital One
Indemnified Person”), from and against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions, investigations, proceedings, costs, expenses or disbursements (including reasonable legal fees and expenses) of
any kind and nature whatsoever that may be imposed on, incurred by, or asserted at any time against a Capital One Indemnified Person (whether or not also indemnified against by any other person) that arose out of the willful misconduct, bad faith or
negligence of the Asset Representations Reviewer in the performance of its obligations and duties under this Agreement; provided, however, that the Asset Representations Reviewer shall not be liable for or required to indemnify a Capital One
Indemnified Person from and against expenses arising or resulting from the Capital One Indemnified Person’s own willful misconduct, bad faith or negligence. 

(b) In case any such action, investigation or proceeding will be brought involving a Capital One Indemnified Person, the Asset Representations
Reviewer will assume the defense thereof, including the employment of counsel and the payment of all expenses. The Transferor, 

  
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Capital One and the Servicer each will have the right to employ separate counsel in any such action, investigation or proceeding and to participate in the defense thereof and the reasonable fees
and expenses of such counsel will be paid by the Asset Representations Reviewer. 
 (c) The indemnification set forth herein will survive
the termination of this Agreement and the resignation or removal of the Asset Representations Reviewer. 
 Section 5.05.
Covenants. The Asset Representations Reviewer covenants and agrees that: 
 (a) Eligibility. It will notify the
Transferor, Capital One and the Servicer promptly if at any time during the term of this Agreement, it ceases to be an Eligible Asset Representations Reviewer. 

(b) Review Systems; Personnel. It will maintain business process management and/or other systems necessary to ensure
that it can perform each Test and, on execution of this Agreement, will load each Test into these systems. The Asset Representations Reviewer will ensure that these systems allow for each Review Account and the related Review Materials to be
individually tracked and stored as contemplated by this Agreement. The Asset Representations Reviewer will maintain adequate staff that is properly trained to conduct Reviews as required by this Agreement. 

(c) Compliance with Obligations. It will comply with each of its obligations under this Agreement. 

(d) Outstanding Investor Certificates or Notes. In determining whether the requisite percentage of Investor
Certificateholders have given any direction, notice, or consent under the terms of the Pooling and Servicing Agreement, the Series 2002-CC Supplement, or this Agreement, any Investor Certificates or Notes owned by it or any of its affiliates will be
disregarded and deemed not to be outstanding. 
 Section 5.06. Inspections of Asset Representations Reviewer. The Asset
Representations Reviewer agrees that, with reasonable prior notice not more than once during any year, it will permit authorized representatives of the Servicer, Capital One and the Transferor, during the Asset Representations Reviewer’s normal
business hours, to examine and review the books of account, records, reports and other documents and materials of the Asset Representations Reviewer relating to (a) the performance of the Asset Representations Reviewer’s obligations under
this Agreement, (b) payments of fees and expenses of the Asset Representations Reviewer for its performance and (c) a claim made by the Asset Representations Reviewer under this Agreement. In addition, the Asset Representations Reviewer
will permit the Servicer’s, Capital One’s and the Transferor’s representatives to make copies and extracts of any of those documents and to discuss them with the Asset Representations Reviewer’s officers and employees. Each of
the Servicer, Capital One and the Transferor will, and will cause its authorized representatives to, hold in confidence the information, except if disclosure may be required by law or if the Servicer, Capital One or the Transferor reasonably
determines that it is required to make the disclosure under this Agreement or any other transaction document relating to any Investor Certificate or Note. The Asset Representations Reviewer will maintain all relevant books, records, reports and
other documents and materials for a period of three (3) years after the termination of its obligations under this Agreement. 

  
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 ARTICLE VI. 

REMOVAL, RESIGNATION 

Section 6.01. Removal of Asset Representations Reviewer. (a) If any one of the following events (each a
“Disqualification Event”) shall occur: 
 (i) the Asset Representations Reviewer ceases to be an Eligible
Asset Representations Reviewer; 
 (ii) any failure by the Asset Representations Reviewer duly to observe or perform in any
material respect any other covenant or agreement of the Asset Representations Reviewer set forth in this Agreement; or 

(iii) an Insolvency Event occurs. 

then, the Servicer may or, in the case of Section 6.01(a)(i), shall remove the Asset Representations Reviewer by delivery of a written instrument to that
effect. 
 (b) The Servicer may also remove the Asset Representations Reviewer by delivery of a written instrument to that effect on or
after the fifth anniversary of the Engagement Date, upon sixty (60) days’ written notice (or such shorter notice period as the parties to this Agreement may agree) from the Servicer to the Asset Representations Reviewer, Capital One, the
Transferor, and the COMT Trustee. 
 (c) The Servicer may also remove the Asset Representations Reviewer by delivery of a written instrument
to that effect if (A) another entity, directly or indirectly, in a single transaction or series of related transactions, acquires control of Capital One or its parent Capital One Financial Corporation, (“COFC”) or all or
substantially all of the assets of Capital One or COFC; (B) COFC is merged with or into another entity; or (C) in a single transaction or series of related transactions, COFC acquires control of an entity that is substantially similar in
size to COFC. 
 (d) Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations
Reviewer is appointed in accordance with Section 6.02. Any expenses incurred by the Servicer in connection with replacing the Asset Representations Reviewer following any Disqualification Event shall be reimbursed by the removed Asset
Representations Reviewer promptly upon delivery by the Servicer of a detailed invoice. 
 Section 6.02. Appointment of
Successor. Upon the removal of the Asset Representations Reviewer pursuant to Section 6.01 or a permitted resignation of the Asset Representations Reviewer pursuant to Section 6.04, the Servicer shall use commercially reasonable
efforts to appoint a successor Asset Representations Reviewer, who shall be an Eligible Asset 

  
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Representations Reviewer, by written instrument signed by the Servicer, Capital One, the Transferor, the resigning Asset Representations Reviewer, and such successor Asset Representations
Reviewer. If a successor Asset Representations Reviewer has not been appointed within sixty (60) days after the giving of written notice of such resignation or the delivery of the written instrument with respect to such removal, the Asset
Representations Reviewer or the Servicer may apply to any court of competent jurisdiction to appoint a successor Asset Representations Reviewer to act until such time, if any, as a successor Asset Representations Reviewer has been appointed as above
provided. Any successor Asset Representations Reviewer so appointed by such court will immediately and without further act be superseded by any successor Asset Representations Reviewer appointed as above provided. 

Section 6.03. Merger or Consolidation of, or Assumption of the Obligations of, the Asset Representations Reviewer. Any Person
(a) into which the Asset Representations Reviewer is merged or consolidated, (b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the Asset
Representations Reviewer, if that Person is an Eligible Asset Representations Reviewer, will be the successor to the Asset Representations Reviewer under this Agreement. 

If the Asset Representations Reviewer is not the surviving entity, such successor shall expressly assume, by an agreement supplemental hereto, executed by,
and delivered to, the Servicer, Capital One, and the Transferor, in a form satisfactory to the Servicer, Capital One, and the Transferor, the performance of every covenant and obligation of the Asset Representations Reviewer, as applicable hereunder
(to the extent that any right, covenant or obligation of the Asset Representations Reviewer, as applicable hereunder, is inapplicable to the successor entity, such successor entity shall be subject to such covenant or obligation, or benefit from
such right, as would apply, to the extent practicable, to such successor entity); and the Asset Representations Reviewer shall have delivered to the Servicer, Capital One, and the Transferor an officer’s certificate of the Asset Representations
Reviewer to the effect that such consolidation, merger, conveyance or transfer and such supplemental agreement comply with this Section 6.03, that the successor Asset Representations Reviewer is an Eligible Asset Representations Reviewer, and
that all conditions precedent herein provided for relating to such transaction have been complied with and an Opinion of Counsel that such supplemental agreement is legal, valid and binding with respect to the Asset Representations Reviewer. 

Section 6.04. Asset Representations Reviewer Not to Resign. The Asset Representations Reviewer shall not resign from the
obligations and duties hereby imposed on it, except: 
 (a) Upon determination that (i) the performance of its duties hereunder is no
longer permissible under applicable law and (ii) there is no reasonable action that the Asset Representations Reviewer could take to make the performance of its duties hereunder permissible under applicable law; 

(b) On or after the fifth anniversary of the Engagement Date, upon one (1) year’s written notice (or such shorter notice period as
the parties to this Agreement may agree) from the Asset Representations Reviewer to the Servicer, Capital One, the Transferor, and the COMT Trustee; or 

(c) Upon a failure by the Servicer to pay any material amount due under Article IV when such amount becomes due and payable, and continuance
of such non-payment for a period of sixty (60) days following the date on which such amount became due and payable. 

  
 -16- 

 Any such determination permitting the resignation of the Asset Representations Reviewer shall be evidenced as to
clause (a)(i) above by an opinion of counsel and as to clause (a)(ii) by an officer’s certificate of the Asset Representations Reviewer, each to such effect delivered to the Transferor, Capital One and the Servicer. No resignation under
this Section 6.04 shall become effective until a successor Asset Representations Reviewer shall have assumed the responsibilities and obligations of the Asset Representations Reviewer in accordance with Section 6.02. Any reasonable
expenses incurred by the Servicer in connection with replacing the Asset Representations Reviewer following the Asset Representations Reviewer’s resignation under Section 6.04(b) shall be reimbursed by the resigning Asset Representations
Reviewer promptly upon delivery by the Servicer of a detailed invoice. 
 Section 6.05. Delegation of Obligations. The Asset
Representations Reviewer may not delegate or subcontract its obligations under this Agreement to any Person without the consent of the Capital One, the Transferor, and the Servicer. Any such delegation or subcontracting to which Capital One, the
Transferor, and the Servicer have consented shall not relieve the Asset Representations Reviewer of its liability and responsibility with respect to such obligations, and shall not constitute a resignation within the meaning of Section 6.04.

 ARTICLE VII. 

TREATMENT OF CONFIDENTIAL INFORMATION 

Section 7.01. Confidential Information. 

(a) Confidential Information Defined. For the purposes of this Agreement, “Confidential Information” means information
that (i) is identified as non-public, confidential or proprietary information or (ii) a reasonable person would deem to be non-public, confidential or proprietary information of a party (the “Disclosing Party”) that is
disclosed to the other party (the “Receiving Party”) by the Disclosing Party or any of its Representatives in connection with the performance of this Agreement, including but not limited to (a) business or technical processes,
formulae, source codes, object code, product designs, sales, cost and other unpublished financial information, customer information, product and business plans, projections, marketing data or strategies, trade secrets, intellectual property rights, know-how, expertise, methods and procedures for operation, information about employees, customer names, business or technical proposals, and any other information that is or should reasonably be understood to be
confidential or proprietary to the Disclosing Party, (b) Personally Identifiable Information and (c) Review Materials. The foregoing definition of Confidential Information applies to: (i) all such information, whether tangible or
intangible and regardless of the medium in which it is stored or presented; and (ii) all copies of such information, as well as all memoranda, notes, summaries, analyses, computer records, and other materials prepared by the Receiving Party or
any of its employees, agents, advisors, directors, officers, accountants, auditors and subcontractors, or those of its Affiliates (collectively “Representatives”) to the extent they contain or reflect the Confidential Information.

  
 -17- 

 (b) Use of Confidential Information. Each party acknowledges that during the term of this
Agreement it may be exposed to or acquire Confidential Information of the other party or its Affiliates. The Receiving Party shall hold the Confidential Information of the Disclosing Party in strict confidence and will not disclose such information
except to its Representatives who have a need to know such information in connection with the performance of this Agreement and who are informed by the Receiving Party of the confidential nature of the Confidential Information and are directed by
the Receiving Party to treat the Confidential Information in a manner consistent with the terms of this Agreement. The Receiving Party shall be responsible for the breach of this Agreement by any of its Representatives. The Receiving Party will hold
and protect the Disclosing Party’s Confidential Information using the same degree of care that it uses to protect its own confidential, non-public and/or proprietary information, but in no event with less
than a commercially reasonable standard of care. 
 (c) Exceptions. Confidential Information shall not include, and this Agreement
imposes no obligations with respect to, information that: 
 (i) was, at the time of disclosure to the Receiving Party, in
the public domain or, after disclosure to the Receiving Party, has become part of the public domain through no act or omission of the Receiving Party; 

(ii) was in the possession of the Receiving Party, without confidentiality restrictions, at the time of disclosure to the
Receiving Party hereunder; 
 (iii) was or hereafter is independently developed by a party outside of this Agreement and
without use of, reference to, access to, or reliance on any Confidential Information of the other party; or 
 (iv) was
lawfully and independently obtained by the Receiving Party from a third party who, to the knowledge of the Receiving Party after reasonable inquiry, is not subject to an obligation of confidentiality or otherwise prohibited from disclosing or
transmitting the information to the Receiving Party. 
 The foregoing exceptions shall not apply to any Personally Identifiable Information, which shall
remain confidential in all circumstances, except as required or permitted to be disclosed by applicable law, statute, or regulation. 
 (d)
Disclosure by Operation of Law. If any party or any of its Representatives is requested or required (orally or in writing, by law, regulation or interrogatory, request for information or documents, court order, subpoena, deposition,
administrative proceedings, inspection, audit, civil investigative demand or other legal, governmental or regulatory process) to disclose all or any part of any Confidential Information, such party shall (i) to the extent permitted by law, rule
and regulation, promptly notify the other party of the existence, terms and circumstances surrounding such request; (ii) consult with the other party on the advisability of 

  
 -18- 

 
taking legally available steps to resist or narrow such request and cooperate with such party on any steps it considers advisable; and (iii) if disclosure of the Confidential Information is
required or deemed advisable, exercise commercially reasonable efforts to obtain an order, stipulation or other reliable assurance that confidential treatment shall be accorded to such portion of the Confidential Information to be disclosed. Each
party shall reimburse the other party for reasonable legal fees and expenses incurred in connection with such party’s efforts to comply with this section. Notwithstanding anything to the contrary contained herein, the Servicer and its
Affiliates may disclose Confidential Information, without notice to the Asset Representations Reviewer, to any governmental agency, regulatory authority or self-regulatory authority (including, without
limitation, bank and securities examiners) having or claiming to have authority to regulate or oversee any aspect of the Servicer’s business or that of its Affiliates in connection with the exercise of such authority or claimed authority. 

(e) Return of Confidential Information. Upon the written request of the Disclosing Party, the Receiving Party shall return or destroy
all Confidential Information to the Disclosing Party provided to it pursuant to this Agreement; provided, however, (i) the Receiving Party shall be permitted to retain copies of the Disclosing Party’s Confidential Information solely
for archival, audit, disaster recovery, legal, and/or regulatory purposes or, if longer, for the period of time set forth in Section 3.15, and (ii) the Receiving Party shall be permitted to retain copies of the Disclosing Party’s
Confidential Information to the extent it would be unreasonably burdensome to destroy such Confidential Information (such as archived computer records); provided further, that (x) any Confidential Information so retained will remain
subject to the obligations and restrictions contained in this Agreement, notwithstanding any termination hereof, and (y) the Receiving Party will not use the retained Confidential Information for any other purpose. 

(f) Remedies. Each of the parties acknowledges that all Confidential Information of the other party is considered to be proprietary and
of competitive value, and in many instances, trade secrets. Each of the parties hereto agrees that because of the unique nature of such Confidential Information, any breach of this Section by it or its Representatives would cause irreparable
harm to the Disclosing Party and that money damages and other remedies available at law in the event of a breach would not be adequate to compensate the Disclosing Party for any such breach. Accordingly, each party shall be entitled, without the
requirement of posting a bond or other security, to equitable relief, including, without limitation, injunctive relief and specific performance, as a remedy for any such breach. Such relief shall be in addition to, and not in lieu of, all other
remedies available to such party, whether under this Agreement, at law or in equity. 
 Section 7.02. Safeguarding Personally
Identifiable Information. 
 (a) Definition. Personally Identifiable Information, or PII, means information in any format about
an identifiable individual, including, name, address, phone number, e-mail address, account number(s), identification number(s), any other actual or assigned attribute associated with or identifiable to an
individual and any information that when used separately or in combination with other information could identify an individual, as further described in § 501(b) of the
Gramm-Leach-Bliley Act and the Interagency Guidelines Establishing Standards for Safeguarding Customer Information (12 C.F.R. Section 208, Appendix D-2), that is provided or made available to the Asset Representations Reviewer in accordance with the terms of this Agreement. 

  
 -19- 

 (b) Use of PII. The Servicer does not grant the Asset Representations Reviewer any rights
to PII except as provided in this Agreement. The Asset Representations Reviewer will use PII only to perform its obligations under this Agreement or as specifically directed in writing by the Servicer and will only reproduce PII to the extent
necessary for these purposes. The Asset Representations Reviewer must comply with all laws applicable to PII and the Asset Representations Reviewer’s business, including any legally required codes of conduct, including those relating to
privacy, security and data protection. The Asset Representations Reviewer will protect and secure PII. The Asset Representations Reviewer will implement privacy or data protection policies and procedures that comply with applicable law and this
Agreement. The Asset Representations Reviewer will implement and maintain reasonable and appropriate practices, procedures and systems, including administrative, technical and physical safeguards to (i) protect the security, confidentiality and
integrity of PII, (ii) ensure against anticipated threats or hazards to the security or integrity of PII, (iii) protect against unauthorized access to or use of PII and (iv) otherwise comply with its obligations under this Agreement.
These safeguards include a written data security plan, employee training, information access controls, restricted disclosures, systems protections (e.g., intrusion protection, data storage protection and data transmission protection) and
physical security measures. 
 (c) Additional Limitations. In addition to the use and protection requirements described in
Section 7.02(b), the Asset Representations Reviewer’s disclosure of PII is also subject to the following requirements: 

(i) The Asset Representations Reviewer will not disclose PII to its personnel or allow its personnel access to PII except
(A) for the Asset Representations Reviewer personnel who require PII to perform a Review, (B) with the prior consent of the Servicer or (C) as required by applicable law. When permitted, the disclosure of or access to PII will be
limited to the specific information necessary for the individual to complete the assigned task. The Asset Representations Reviewer will inform personnel with access to PII of the confidentiality requirements in this Agreement and train its personnel
with access to PII on the proper use and protection of PII. 
 (ii) The Asset Representations Reviewer will not sell,
disclose, provide or exchange PII with or to any third party without the prior consent of the Servicer. 
 (d) Notice of Breach. The
Asset Representations Reviewer will notify the Servicer immediately if it discovers there has been (i) a data security event that did compromise, or could have compromised, the security of PII, or (ii) any event that did result, or could
have resulted, in the unauthorized access to or use of the PII, irrespective of whether the unauthorized access or use relates to external parties or Representatives of the Asset Representation Reviewer ((i) and (ii) collectively known as a
“Security Breach”) and, where applicable, immediately take action to prevent any further breach. Should a Security Breach occur, the Asset Representations Reviewer shall cooperate with the Servicer to respond to the Security Breach
or to otherwise protect PII, including but not limited to, by enabling the Servicer to implement expeditiously its own data 

  
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security breach response program. Should a Security Breach occur, the Asset Representations Reviewer will commence all reasonable efforts to investigate and correct the causes and remediate the
results thereof, and, following discovery of any such event, provide the Servicer with such further information and assistance as may be reasonably requested. 

(e) Return or Disposal of PII. Except where return or disposal is prohibited by applicable law, promptly on the earlier of the
completion of the Review or the request of the Servicer, all PII in any medium in the Asset Representations Reviewer’s possession or under its control will be (i) destroyed in a manner that prevents its recovery or restoration or
(ii) if so directed by the Servicer, returned to the Servicer without the Asset Representations Reviewer retaining any actual or recoverable copies, in both cases, without charge to the Servicer. Where the Asset Representations Reviewer retains
PII, the Asset Representations Reviewer will limit the Asset Representations Reviewer’s further use or disclosure of PII to that required by applicable law. 

(f) Compliance; Modification. The Asset Representations Reviewer will cooperate with and provide information to the Servicer regarding
the Asset Representations Reviewer’s compliance with this Section 7.02. The Asset Representations Reviewer and the Servicer agree to modify this Section 7.02 as necessary for either party to comply with applicable law. 

(g) Audit of Asset Representations Reviewer. The Asset Representations Reviewer will permit the Servicer and its authorized
representatives to audit the Asset Representations Reviewer’s compliance with this Section 7.02 during the Asset Representations Reviewer’s normal business hours on reasonable advance notice to the Asset Representations Reviewer, and
not more than once during any year unless circumstances necessitate additional audits. The Servicer agrees to make reasonable efforts to schedule any audit described in this Section 7.02 with the inspections described in Section 5.06. The
Asset Representations Reviewer will also permit the Servicer during normal business hours on reasonable advance written notice to audit any service providers used by the Asset Representations Reviewer to fulfill the Asset Representations
Reviewer’s obligations under this Agreement. 
 (h) Affiliates and Third Parties. If the Asset Representations Reviewer
processes the PII of the Servicer’s Affiliates or a third party when performing a Review, and if such Affiliate or third party is identified to the Asset Representations Reviewer, such Affiliate or third party is an intended third-party beneficiary of this Section 7.02, and this Agreement is intended to benefit the Affiliate or third party. The Affiliate or third party may enforce the PII related terms of this Section 7.02
against the Asset Representations Reviewer as if each were a signatory to this Agreement. 
 (i) Material Breach. Any breach of this Section
shall be considered a material breach of this Agreement. 

  
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 ARTICLE VIII. 

TERMINATION 

Section 8.01. Termination of Agreement. This Agreement will terminate, except for obligations under Sections 5.03 and 5.04
and Article VII, on the earlier to occur of (i) the payment in full of all outstanding Investor Certificates or (ii) the removal of the Asset Representations Reviewer pursuant to Section 6.01 or the permitted resignation of the Asset
Representations Reviewer pursuant to Section 6.04 (which removal or resignation, for the avoidance of doubt, shall not take effect until the appointment of a successor Asset Representations Reviewer in accordance with Section 6.02). 

ARTICLE IX. 

MISCELLANEOUS PROVISIONS 

Section 9.01. Amendment. (a) This Agreement may be amended by the Asset Representations Reviewer, the Transferor, Capital One
and the Servicer, without the consent of any of the Investor Certificateholders, (i) to comply with any change in any applicable federal or state law, to cure any ambiguity, to correct or supplement any provisions in this Agreement or for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions in this Agreement, including the content of any Exhibit to this Agreement; provided, however, that if such action is taken after the issuance
of any tranche of Notes that is registered with the Securities and Exchange Commission on Form SF-3, such action shall not, in the reasonable belief of the Transferor, as evidenced by an officer’s certificate of the Transferor delivered to
Capital One, the Servicer, and the COMT Trustee, adversely affect in any material respect the interests of any Investor Certificateholder whose consent has not been obtained, or (ii) to correct any manifest error in the terms of this Agreement
as compared to the terms expressly set forth in an applicable prospectus. 
 (b) This Agreement may also be amended from time to time by the
Asset Representations Reviewer, the Transferor, Capital One and the Servicer, with the consent of the Investor Certificateholders holding more than 50% of the aggregate unpaid principal amount of all outstanding Investor Certificates, for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights or interests of the Investor Certificateholders. 

(c) It shall not be necessary for the consent of Investor Certificateholders to approve the particular form of any proposed amendment or
consent, but it shall be sufficient if such consent shall approve the substance thereof. 
 (d) Each of the Asset Representations Reviewer,
the Transferor, Capital One and the Servicer may, but shall not be obligated to, execute and deliver such amendment that affects its rights, powers, duties or immunities hereunder. 

(e) Prior notice of any amendment of this Agreement contemplated by this Section 9.01 shall be provided to each Rating Agency. 

  
 -22- 

 Section 9.02. Notices. All notices hereunder shall be given by United States
certified or registered mail, by facsimile or by other telecommunication device capable of creating written record of such notice and its receipt. Notices hereunder shall be effective when received and shall be addressed to the respective parties
hereto at the addresses set forth below, or at such other address as shall be designated by any party hereto in a written notice to each other party pursuant to this Section. 

If to the Asset Representations Reviewer, to: 

Clayton Fixed Income Services LLC 

1700 Lincoln Street, Suite 2600 

Denver, CO 80203 
 Attn: SVP,
Surveillance 
 With a copy to: 

Clayton Fixed Income Services LLC 

c/o Clayton Holdings LLC 
 100
Beard Sawmill Road 
 Shelton, CT 06484 

Attn: General Counsel 
 If to
the Transferor, to: 
 Capital One Funding, LLC 

140 East Shore Drive, Room 1071-B 

Glen Allen, VA 23059 

Attention: Assistant Vice President, Treasury Capital Markets 

With a copy to: 
 Capital One
Bank (USA), National Association 
 1680 Capital One Drive 

McLean, VA 22102 
 Attention:
Managing Vice President, Treasury Capital Markets 
 If to Capital One, to: 

Capital One Bank (USA), National Association 

1680 Capital One Drive 
 McLean,
VA 22102 
 Attention: General Counsel 

  
 -23- 

 With a copy to: 

Capital One Bank (USA), National Association 

1680 Capital One Drive 
 McLean,
VA 22102 
 Attention: Managing Vice President, Treasury Capital Markets 

If to the Servicer, to: 

Capital One Bank (USA), National Association 

1680 Capital One Drive 
 McLean,
VA 22102 
 Attention: General Counsel 

With a copy to: 
 Capital One
Bank (USA), National Association 
 1680 Capital One Drive 

McLean, VA 22102 
 Attention:
Managing Vice President, Treasury Capital Markets 
 If to the COMT Trustee, to: 

The Bank of New York Mellon 

101 Barclay Street, Floor 7 West 

New York, New York 10286 

Attention: Corporate Trust Administration — Asset Backed Securities 

Section 9.03. Entire Agreement; Severability Clause. This Agreement constitutes the entire agreement among the Asset
Representations Reviewer, the Transferor, Capital One and the Servicer. All prior representations, statements, negotiations and undertakings with regard to the subject matter hereof are superseded hereby. 

If any term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be invalid or
unenforceable, the remaining terms and provisions of this Agreement, or the application of such terms or provisions to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each
term and provision of this Agreement shall be valid and enforced to the fullest extent permitted by law. 
 Section 9.04.
Counterparts. This Agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and all such counterparts shall constitute one and the same instrument. 

Section 9.05. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT 

  
 -24- 

 
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. 

Section 9.06. Captions. The captions used herein are for the convenience of reference only and not part of this Agreement, and
shall in no way be deemed to define, limit, describe or modify the meanings of any provision of this Agreement. 
 Section 9.07.
Waivers. No term or provision of this Agreement may be waived or modified unless such waiver or modification is in writing, signed by the party against whom such waiver or modification is sought to be enforced. 

Section 9.08. Assignment. This Agreement may not be assigned by the Asset Representations Reviewer except as permitted under
Section 6.03 hereof. 
 Section 9.09. Benefit of This Agreement; Third-Party
Beneficiaries. This Agreement is for the benefit of and will be binding on the parties to this Agreement and their permitted successors and assigns. Except as provided in Section 7.02(h), no other Person will have any right or obligation
under this Agreement. 
 Section 9.10. Exhibits. The exhibits to this Agreement are hereby incorporated and made a part hereof
and are an integral part of this Agreement. 
 Section 9.11. Nonpetition Covenant. To the fullest extent permitted by applicable
law, notwithstanding any prior termination of this Agreement, none of the Servicer, Capital One or the Asset Representations Reviewer shall, prior to the date which is one year and one day after the termination of the Pooling and Servicing
Agreement, acquiesce, petition or otherwise invoke or cause Funding, COMT, or the Note Issuer to invoke the process of any Governmental Authority for the purpose of commencing or sustaining a case against Funding, COMT, or the Note Issuer under any
Debtor Relief Law or appointing a receiver, conservator, liquidator, assignee, trustee, custodian, sequestrator or other similar official of any of Funding, COMT, or the Note Issuer, or any substantial part of its property, or ordering the winding-up or liquidation of the affairs of Funding, COMT, or the Note Issuer. 

  
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 IN WITNESS WHEREOF, the Transferor, Capital One, the
Servicer and the Asset Representations Reviewer have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the date first above written. 

 

					
	CAPITAL ONE FUNDING, LLC, as Transferor
		
	By:	 	 /s/ Eric D. Bauder

		 	Name:	 	Eric D. Bauder
		 	Title:	 	Assistant Vice President
	
	CAPITAL ONE BANK (USA), NATIONAL ASSOCIATION, as Servicer and in its individual capacity
		
	By:	 	 /s/ Daniel H. Rosen

		 	Name:	 	Daniel H. Rosen
		 	Title:	 	Managing Vice President, Treasury
	
	CLAYTON FIXED INCOME SERVICES LLC, as Asset Representations Reviewer
		
	By:	 	 /s/ Robert Harris

		 	Name:	 	Robert Harris
		 	Title:	 	Secretary

 [Signature Page to Asset Representations Review Agreement] 

 Exhibit A 

Representation (1)1

 2.04(a)(vii) On the applicable Additional Cut-Off Date, each related Additional Account is an Eligible Account. 

Documents 
 Asset Selection Report 

Procedures to be Performed 
  

	 	i)	Each Review Account is an Eligible Account. 

  

	 	a.	Confirm that the testing of each of Representations 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11 in this Exhibit A resulted in a Test Pass. 

  

	 	b.	If confirmed, then Test Pass. 

  

	1	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 1 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-1 

 Representation (2)2 
 (a) The “Eligible Account” is in existence and maintained by the
Account Owner. 
 Documents 
 Asset Selection
Report 
 Procedures to be Performed 
  

	 	i)	Each Review Account is a credit card account maintained by Capital One. 

  

	 	a.	Confirm that the Review Accounts are set forth in the Asset Selection Report. 

  

	 	b.	If confirmed, then Test Pass. 

  

	2	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 2 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-2 

 Representation (3)3 

(b) The “Eligible Account” is payable in United States dollars. 

Documents 
 Asset Selection Report 

Procedures to be Performed 
  

	 	i)	Each Review Account is payable in United States dollars. 

  

	 	a.	Confirm that the currency indicator in the Asset Selection Report for each of the Review Accounts on the Account List contained in the Asset Selection Report is United States Dollars. 

 

	 	b.	If confirmed, then Test Pass. 

  

	3	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 3 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-3 

 Representation (4)4 

(c) The “Eligible Account” has not been identified by the Account Owner as an account the credit cards or checks, if any, with
respect to which have been lost or stolen. 
 Documents 

Asset Selection Report 
 Procedures to be Performed

  

	 	i)	No Review Account was identified as lost or stolen. 

  

	 	a.	Confirm that no Review Account had a data indicator indicating that the account was lost or stolen. 

  

	 	b.	If confirmed, then Test Pass. 

  

	4	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 4 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-4 

 Representation (5)5 
 (d) The Obligor on the “Eligible Account” has provided, as his
or her current billing address, an address located in the United States (or its territories or possessions or a military address). 
 Documents

 Asset Selection Report 
 Procedures to be
Performed 
  

	 	i)	The billing address for each Review Account was located in the United States, its territories or possessions, or a military address. 

 

	 	a.	Review the Geographic Report from the Asset Selection Report. 

  

	 	b.	Confirm all billing addresses were in the United States, its territories or possessions, or a military address. 

  

	 	c.	If confirmed, then Test Pass. 

  

	5	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 5 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-5 

 Representation (6)6 
 (e) The “Eligible Account” has not been, and does not have any
Receivables which have been, sold, pledged, assigned or otherwise conveyed to any Person (except pursuant to the Receivables Purchase Agreements, the Prior PSA or the Pooling and Servicing Agreement). 

Documents 
 Asset Selection Report 

Procedures to be Performed 
  

	 	i)	No Review Account has Receivables that have been sold, pledged, assigned or otherwise conveyed to anyone else. 

  

	 	a.	Confirm that no Review Account was flagged as having been sold, pledged, assigned or otherwise conveyed to another party prior to the addition date. 

 

	 	b.	If confirmed, then Test Pass. 

  

	6	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 6 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-6 

 Representation (7)7 
 (f) Except as provided in the Pooling and Servicing Agreement, the
“Eligible Account” does not have any Receivables which are Defaulted Receivables. 
 Documents 

Asset Selection Report 
 Procedures to be Performed

  

	 	i)	No Receivable in a Review Account has been charged off. 

  

	 	a.	Review the Asset Selection Report 

  

	 	b.	Confirm that no Review Account flagged as charged off was transferred to the trust. 

  

	 	c.	If confirmed, then Test Pass. 

  

	7	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 7 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-7 

 Representation (8)8 
 (g) The “Eligible Account” does not have any Receivables which
have been identified by the Transferor, the Account Owner or the relevant Obligor as having been incurred as a result of the fraudulent use of any related credit card or check. 

Documents 
 Asset Selection Report 

Procedures to be Performed 
  

	 	i)	No Receivable in a Review Account has been identified as fraudulent. 

  

	 	a.	Confirm that no Review Account had a data indicator indicating the Review Receivables were fraudulent. 

  

	 	b.	If confirmed, then Test Pass. 

  

	8	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 8 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-8 

 Representation (9)9 
 (h) The “Eligible Account” relates to an Obligor who is not
identified by the Account Owner or by the Transferor in its computer files as being the subject of a voluntary or involuntary bankruptcy proceeding. 

Documents 
 Asset Selection Report 

Procedures to be Performed 
  

	 	i)	No Review Account was coded as in bankruptcy. 

  

	 	a.	Confirm that no Review Account had a data indicator indicating the borrower was in active bankruptcy. 

  

	 	b.	If confirmed, then Test Pass. 

  

	9	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 9 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-9 

 Representation (10)10 
 (i) The “Eligible Account” is not an account with respect to
which the Obligor has requested discontinuance of responsibility. 
 Documents 

Asset Selection Report 
 Procedures to be Performed

  

	 	i)	The borrower for each Review Account has not requested a discontinuance of responsibility. 

  

	 	a.	Confirm that no Review Account had a data indicator indicating the borrower had requested discontinuance of responsibility. 

  

	 	b.	If confirmed, then Test Pass. 

  

	10	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 10 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-10 

 Representation (11)11 
 (j) The “Eligible Account” does not have any Receivables that
give rise to any claim against any Governmental Authority. 
 Documents 

Asset Selection Report 
 Procedures to be Performed

  

	 	i)	Each Review Account does not have any Receivables that give rise to any claim against any Governmental Authority. 

  

	 	a.	Confirm that no Review Account had a data indicator indicating that the customer on any Account was a corporate entity, or anything other than an individual person 

 

	 	b.	If confirmed, then Test Pass. 

  

	11	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 11 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-11 

 Representation (12)12 
 2.04(a)(viii) On the applicable Additional Cut-Off Date, each Receivable then existing in
each related Additional Account is an Eligible Receivable. 
 Documents 

Asset Selection Report 
 Procedures to be Performed

  

	 	i)	Each Review Receivable is an Eligible Receivable. 

  

	 	a.	Confirm that the testing of each of Representations 13, 14, 15, 16, 17, 18, 19, 20, 21 and 22 in this Exhibit A resulted in a Test Pass. 

 

	 	ii)	If confirmed, then Test Pass. 

  

	12	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 12 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-12 

 Representation (13)13 
 (a) The “Receivable” has arisen in an “Eligible
Account.” 
 Documents 
 Asset Selection
Report 
 Procedures to be Performed 
  

	 	i)	Each Review Receivable arose in an Eligible Account. 

  

	 	a.	Confirm that each Account in which each Review Receivable has arisen is an Eligible Account based on the performance of the procedures set forth in Representations 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11 in this Exhibit A.

  

	 	b.	If confirmed, then Test Pass. 

  

	13	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 13 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-13 

 Representation (14)14 
 (b) The “Receivable” was created in compliance in all material
aspects with the Lending Guidelines and all Requirements of Law applicable to the Account Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders, and pursuant to a Lending Agreement which complies
with all Requirements of Law applicable to the Account Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders. 

Documents 
 Compliance Policy 

Regulatory Policies and Procedures 
 Form of Capital One
Customer Agreement 
 Procedures to be Performed 
  

	 	i)	Each Review Receivable was created, in all material respects, in compliance with all Requirements of Law applicable to the applicable Account Owner. 

 

	 	a.	Review the Compliance Policy and the Regulatory Policies and Procedures. 

  

	 	i.	Confirm the procedures in (i)(a) above include the following: 

  

	 	1.	Overview of the process including identification of laws (including changes to existing laws), analysis of laws, determination of impact, and implementation to appropriate business units. 

 

	 	b.	Validate that the procedures in (i)(a) above were followed. 

  

	 	i.	Regulatory changes or additions made between [November 2015] and the date of the Review Notice will be in scope. The Asset Representation Reviewer will select one regulatory change or addition from each calendar year
between [November 2015] and the date of the Review Notice. 

  

	 	ii.	The Asset Representation Reviewer will then track the selected regulatory change through Capital One’s processes for implementation. 

 

	14	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 14 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-14 

	 	c.	Confirm that the updated Compliance Policy and the Regulatory Policies and Procedures were cascaded to each relevant line of business and made available to any employee seeking the information. 

 

	 	d.	Confirm that internal controls reflect regulatory changes in scope through monitoring results and testing. 

  

	 	ii)	Each Review Account was created under a Form of Capital One Customer Agreement that complies, in all material respects, with all Requirements of Law applicable to such Account Owner. 

 

	 	a.	The Asset Representations Reviewer will confirm that contracts were updated based on the Compliance Policy the Compliance Policy and the Regulatory Policies and Procedures. 

 

	 	iii)	If the documentation provided indicates that the Compliance Policy was followed, then Test Pass. 

  
 A-15 

 Representation (15)15 
 (c) All material consents, licenses, approvals or authorizations of, or
registrations or declarations with, any Governmental Authority required to be obtained, effected or given by the Account Owner or the Transferor in connection with the creation of such Receivable or the execution, delivery and performance by the
Account Owner or the Transferor of its obligations, if any, under the related Lending Agreement have been duly obtained, effected or given and are in full force and effect. 

Documents 
 Capital One Bank (USA), National
Association Federal Banking Charter [Charter No. 24828] 
 Procedures to be Performed 

 

	 	i)	Capital One as the Seller has all consents, licenses, approvals and authorizations required. 

  

	 	a.	Locate the document(s) listed above. 

  

	 	b.	Conduct an interview with the appropriate Capital One employee regarding the outcome of any recent audits or reviews conducted by a Governmental Authority and confirm that no Governmental Authority has taken any action
against Capital One that would prevent it from executing, delivering or performing its obligations under the Customer Agreements subject to the Asset Selection Report, or that any such action has been resolved in a manner that would not prevent
Capital One from executing, delivering or performing its obligations under such Customer Agreements. 

  

	 	c.	Review the documents above and confirm with Capital One during the interview process that no evidence exists and that they are valid and have not been revoked. 

 

	 	d.	If the above tests are confirmed, then Test Pass. 

  

	15	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 15 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-16 

 Representation (16)16 
 (d) As to the “Receivable”, at the time of its transfer to the
Trustee, the Transferor or the Trustee will have good and marketable title, free and clear of all Liens (including a prior Lien of the Account Owner but excluding any Lien for municipal or other local taxes if such taxes are not then due and payable
or if the Transferor is then contesting the validity thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto). 

Documents 
 Pooling and Servicing Agreement 

Receivables Purchase Agreement 
 UCC Filing Certificates for
Virginia and Delaware 
 Lien Search Report 
 Asset Selection
Report 
 Procedures to be Performed 
  

	 	i)	Transferor or Trustee had good and marketable title to each Review Receivable, free and clear of all Liens at the time of transfer. 

  

	 	a.	Review the Lien Searches. 

  

	 	i.	confirm that all UCC filings are listed on the Lien Search Report. 

  

	 	ii.	confirm that the debtor is listed as Capital One (Bank), National Association or any of its predecessors, successors or assigns. 

  

	 	b.	Review the UCC Filing Certificates for Virginia and Delaware, the Pooling and Servicing Agreement, and the Receivables Purchase Agreement. 

 

	 	i.	Confirm that the filings were completed to the appropriate party as defined by the Agreements. 

  

	 	c.	If the above tests are confirmed, then Test Pass. 

  

	16	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 16 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-17 

 Representation (17)17 
 (f) At and after the time of transfer to the Trustee the Receivable is
the legal, valid and binding payment obligation of the Obligor thereon, legally enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as such
enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity). 
 Documents 

Form of Capital One Customer Agreement 
 Asset Selection Report

 Procedures to be Performed 
  

	 	i)	Each Review Receivable is a legal, valid and binding payment obligation. 

  

	 	a.	Confirm that the Account in which each Review Receivable arose is an Eligible Account based on the performance of the procedures set forth in Representations 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11 in this Exhibit A.

  

	 	b.	Confirm that testing of Representation 14 in this Exhibit A related to Compliance with Law resulted in a Test Pass. 

  

	 	c.	If the above tests are confirmed, then Test Pass. 

  

	17	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 17 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-18 

 Representation (18)18 
 (g) The Receivable constitutes an “account” as defined in
Article 9 of the New York UCC and the Virginia UCC. 
 Documents 

Pooling and Servicing Agreement 
 Receivables Purchase Agreement

 Asset Selection Report 
 Procedures to be Performed

  

	 	i)	Confirm that the Review Receivable is a right to payment of a monetary obligation, whether or not earned by performance, arising out of the use of a credit or charge card or information contained on or for use with the
card, as described under Article 9-102 of the Virginia and New York UCCs. 

  

	 	a.	Confirm that there were no issues resulting in the related Accounts being deemed not to be Eligible Accounts as of any addition date from the testing of Representations 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11 set forth in
this Exhibit A. 

  

	 	b.	If confirmed, then Test Pass. 

  

	18	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 18 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-19 

 Representation (19)19 
 (h) At the time
of its transfer to the Trustee the Receivable has not been waived or modified. 
 Documents 

Form of Capital One Customer Agreement 
 Asset Selection Report

 Procedures to be Performed 
  

	 	i)	Each Review Receivable has not been waived or modified. 

  

	 	a.	Confirm that each Review Receivable is a legal, valid and binding payment obligation based on the performance of the procedures set forth in Representation 17 in this Exhibit A, and the performance of the other
procedures set forth therein (including with respect to Eligible Account status and Compliance with Law). 

  

	 	b.	If the above tests are confirmed, then Test Pass. 

  

	19	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 19 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-20 

 Representation (20)20 
 (i) At the time of its transfer to the Trustee, the Receivable is not
subject to any right of rescission, setoff, counterclaim or any other defense of the Obligor (including the defense of usury), other than defenses arising out of applicable Debtor Relief Laws and except as such enforceability may be limited by
general principles of equity (whether considered in a suit at law or equity). 
 Documents 

Form of Capital One Customer Agreement 
 Asset Selection Report

 Procedures to be Performed 
  

	 	i)	No Review Receivable is subject to any right of rescission, setoff, counterclaim or any other defense of the Obligor. 

  

	 	a.	Confirm that each Review Receivable is a legal, valid and binding payment obligation based on the performance of the procedures set forth in Representation 17 in this Exhibit A, and the performance of the other
procedures set forth therein (including with respect to Eligible Account status and Compliance with Law). 

  

	 	b.	If the above tests are confirmed, then Test Pass. 

  

	20	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 20 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-21 

 Representation (21)21 
 (j) At the time of its transfer to the Trustee, the Transferor has
satisfied all obligations on its part to be fulfilled with respect to the Receivable. 
 Documents 

Pooling and Servicing Agreement 
 Receivables Purchase Agreement

 Form of Capital One Customer Agreement 
 UCC Filing
Certificates for Virginia and Delaware 
 Asset Selection Report 

Lien Searches 
 Procedures to be Performed 

 

	 	i)	The Transferor has satisfied all obligations on its part to be fulfilled with respect to the Review Receivable. 

  

	 	a.	Confirm that the related Review Receivable constitutes an “account” as defined in Article 9 of the New York UCC and the Virginia UCC based on the performance of the procedures set forth in Representation
18 in this Exhibit A, and the performance of the other procedures set forth therein (including with respect to Eligible Account status). 

  

	 	b.	Confirm that the Transferor or Trustee had good and marketable title to each Review Receivable, free and clear of all Liens at the time of transfer, and that Transferor did not take any action which, or fail to take any
action the omission of which, would, at the time of its transfer to the Trustee, impair in any material respect the rights of the Trust or the Certificateholders in the Reviewed Receivable, based on the performance of the procedures set forth in
Representations 16 and 22 in this Exhibit A. 

  

	 	c.	If the above tests are confirmed, then Test Pass. 

  

	21	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 21 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-22 

 Representation (22)22 
 (k) At the time of its transfer to the Trustee, the Transferor has not
taken any action which, or failed to take any action the omission of which, would, at the time of its transfer to the Trustee, impair in any material respect the rights of the Trust or the Certificateholders in the Receivable. 

Documents 
 Pooling and Servicing Agreement 

Receivables Purchase Agreement 
 UCC Filing Certificates for
Virginia and Delaware 
 Asset Selection Report 
 Lien
Searches 
 Procedures to be Performed 
  

	 	i)	Transferor did not take any action which, or fail to take any action the omission of which, would, at the time of its transfer to the Trustee, impair in any material respect the rights of the Trust or the
Certificateholders in the Reviewed Receivable. 

  

	 	a.	Review the Lien Searches. 

  

	 	i.	confirm that all UCC filings are listed on the Lien Search Report. 

  

	 	ii.	confirm that the debtor is listed as Capital One (Bank), National Association or any of its predecessors, successors or assigns. 

  

	 	b.	Review the UCC Filing Certificates for Virginia and Delaware, the Pooling and Servicing Agreement, and the Receivables Purchase Agreement. 

 

	 	i.	Confirm that the filings were completed to the appropriate party as defined by the Agreements. 

  

	 	c.	If the above tests are confirmed, then Test Pass. 

  

	22	Due to amendments and restatements effected by predecessor agreements to the Pooling and Servicing Agreement and the Receivables Purchase Agreement, more than one representation and warranty will be tested, along with
this representation and warranty, during a Review. See Schedule 22 to this Exhibit A for a complete list of representations and warranties contained in the current agreement and each predecessor agreement that will be tested by applying the
procedures described immediately below the text of this representation under “Procedures to be Performed.” 

  
 A-23 

 Schedule 1 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT REPRESENTATIONS AND WARRANTIES 

Pooling and Servicing Agreement dated as of September 30, 1993. 

Section 2.04(a)(vii) On the Trust Cut-off Date, each Account was an Eligible Account and, in the case of Additional Accounts, on the
Additional Cut-Off Date with respect thereto, each such Account will be an Eligible Account. 
 Pooling and Servicing Agreement dated as of
September 30, 1993, as amended and restated as of April 9, 2001. 
 Section 2.04(a)(vii) On the Trust Cut-Off Date, each
Account was an Eligible Account and, in the case of Additional Accounts, on the Additional Cut-Off Date with respect thereto, each such Account will be an Eligible Account. 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

Section 2.04(a)(vii) On the applicable Additional Cut-Off Date, each related Additional Account is an Eligible Account. 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 Section 2.04(a)(vii) On the applicable Additional Cut-Off Date, each related Additional Account is an
Eligible Account. 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of
August 1, 2002, January 13, 2006 and July 1, 2007. 
 Section 2.04(a)(vii) On the applicable Additional Cut-Off
Date, each related Additional Account is an Eligible Account. 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30,
1993, as amended and restated as of August 1, 2002, January 13, 2006, July 1, 2007, and March 17, 2016. 

Section 2.04(a)(vii) On the applicable Additional Cut-Off Date, each related Additional Account is an Eligible Account. 

  
 Sch 1 - 1 

 Schedule 1 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT REPRESENTATIONS AND WARRANTIES 

Receivables Purchase Agreement dated as of August 1, 2002. 

Section 4.02(a)(vi) On the cut-off date related to its date of designation as an “Account” under the Prior PSA, with respect to
each Initial Account, and on the applicable Additional Cut-Off Date, with respect to each Additional Account, each such Account is an Eligible Account. 

Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

Section 4.02(a)(vi) on the cut-off date related to its date of designation as an “Account” under the Prior PSA, with respect to
each Initial Account, and on the applicable Additional Cut- Off Date, with respect to each Additional Account, each such Account is an Eligible Account. 

  
 Sch 1 - 2 

 Schedule 2 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (a) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (a) is in existence and maintained with the Seller on the Trust Cut-Off Date or the Addition
Date, as the case may be; 
 Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001.

 (a) is in existence and maintained with the Seller on the Trust Cut-Off Date or the Addition Date, as the case may be; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(a) is in existence and maintained by the Account Owner; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (a) is in existence and maintained by the Account Owner; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (a) is in existence and maintained by the Account Owner; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (a) is in existence and maintained by the Account
Owner; 
 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (a) 
 Receivables Purchase Agreement
dated as of August 1, 2002 
 (a) which is in existence and maintained by Capital One; 

  
 Sch 2 - 1 

 Schedule 2 to Exhibit A 

 

 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(a) which is in existence and maintained by Capital One; 

  
 Sch 2 - 2 

 Schedule 3 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (b) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (b) is payable in United States dollars; 

Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001. 

(b) is payable in United States dollars; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(b) is payable in United States dollars; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (b) is payable in United States dollars; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (b) is payable in United States dollars; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (b) is payable in United States dollars; 

RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (b) 
 Receivables Purchase Agreement
dated as of August 1, 2002 
 (b) which is payable in United States dollars; 

Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(b) which is payable in United States dollars; 

  
 Sch 3 - 1 

 Schedule 4 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (c) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (c) has not been identified as an account the credit cards or checks, if any, with respect to
which have been reported to the Seller as having been lost or stolen; 
 Pooling and Servicing Agreement dated as of September 30, 1993, as amended
and restated as of April 9, 2001. 
 (c) has not been identified as an account the credit cards or checks, if any, with respect to
which have been reported to such Seller as having been lost or stolen; 
 Amended and Restated Pooling and Servicing Agreement dated August 1, 2002.

 (c) has not been identified by the Account Owner as an account the credit cards or checks, if any, with respect to which have been
lost or stolen; 
 Amended and Restated Pooling and Servicing Agreement dated January 13, 2006. 

(c) has not been identified by the Account Owner as an account the credit cards or checks, if any, with respect to which have been lost or
stolen; 
 Amended and Restated Pooling and Servicing Agreement July 1, 2007. 

(c) has not been identified by the Account Owner as an account the credit cards or checks, if any, with respect to which have been lost or
stolen; 
 Amended and Restated Pooling and Servicing Agreement March 17, 2016. 

(c) has not been identified by the Account Owner as an account the credit cards or checks, if any, with respect to which have been lost or
stolen; 
 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (c) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (c) which has not been identified by Capital One as an account the credit cards or checks, if any,
with respect to which have been lost or stolen; 

  
 Sch 4 - 1 

 Schedule 4 to Exhibit A 

 

 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(c) which has not been identified by Capital One as an account the credit cards or checks, if any, with respect to which have been lost or
stolen; 

  
 Sch 4 - 2 

 Schedule 5 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (d) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (d) the Obligor of which has provided, as his or her current billing address, an address located
in the United States (or its territories or possessions or a military address); 
 Pooling and Servicing Agreement dated as of September 30, 1993,
as amended and restated as of April 9, 2001. 
 (d) the Obligor of which has provided, as his or her current billing address, an
address located in the United States (or its territories or possessions or a military address); 
 Amended and Restated Pooling and Servicing Agreement
dated as of September 30, 1993, as amended and restated as of August 1, 2002. 
 (d) the Obligor on which has provided, as his
or her most recent billing address, an address located in the United States (or its territories or possessions or a military address); 
 Amended and
Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and January 13, 2006. 

(d) the Obligor on which has provided, as his or her most recent billing address, an address located in the United States (or its territories
or possessions or a military address); 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and
restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 
 (d) the Obligor on which has provided, as his or
her most recent billing address, an address located in the United States (or its territories or possessions or a military address); 
 Amended and
Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 

(d) the Obligor on which has provided, as his or her most recent billing address, an address located in the United States (or its territories
or possessions or a military address); 

  
 Sch 5 - 1 

 Schedule 5 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (d) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (d) the Obligor on which has provided, as his or her most recent billing address, an address located
in the United States or its territories or possessions or a military address; 
 Amended and Restated Receivables Purchase Agreement dated as of
July 1, 2007. 
 (d) the Obligor on which has provided, as his or her most recent billing address, an address located in the United
States or its territories or possessions or a military address; 

  
 Sch 5 - 2 

 Schedule 6 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (e) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (e) has not been, and does not have any Receivables which have been, sold, pledged, assigned or
otherwise conveyed to any Person (except pursuant to this Agreement); 
 Pooling and Servicing Agreement dated as of September 30, 1993, as amended
and restated as of April 9, 2001. 
 (e) has not been, and does not have any Receivables which have been, sold, pledged, assigned or
otherwise conveyed to any Person (except pursuant to this Agreement); 
 Amended and Restated Pooling and Servicing Agreement dated as of
September 30, 1993, as amended and restated as of August 1, 2002. 
 (e) has not been, and does not have any Receivables which
have been, sold, pledged, assigned or otherwise conveyed to any Person (except pursuant to the Receivables Purchase Agreements, the Prior PSA or this Agreement); 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (e) has not been, and does not have any Receivables which have been, sold, pledged, assigned or otherwise
conveyed to any Person (except pursuant to the Receivables Purchase Agreements, the Prior PSA or this Agreement); 
 Amended and Restated Pooling and
Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 

(e) has not been, and does not have any Receivables which have been, sold, pledged, assigned or otherwise conveyed to any Person (except
pursuant to the Receivables Purchase Agreements, the Prior PSA or this Agreement); 
 Amended and Restated Pooling and Servicing Agreement dated as of
September 30, 1993, as amended and restated as of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 

(e) has not been, and does not have any Receivables which have been, sold, pledged, assigned or otherwise conveyed to any Person (except
pursuant to the Receivables Purchase Agreements, the Prior PSA or this Agreement); 

  
 Sch 6 - 1 

 Schedule 6 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (e) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (e) which has not been, and does not have any Receivables which have been, sold, pledged, assigned or
otherwise conveyed to any Person (except pursuant to this Agreement or the Prior PSA); 
 Amended and Restated Receivables Purchase Agreement dated as of
July 1, 2007. 
 (e) which has not been, and does not have any Receivables which have been, sold, pledged, assigned or otherwise
conveyed to any Person (except pursuant to this Agreement or the Prior PSA); 

  
 Sch 6 - 2 

 Schedule 7 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (f) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (f) except as provided below, does not have any Receivables which are Defaulted Receivables; 

Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001. 

(f) except as provided below, does not have any Receivables which are Defaulted Receivables; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(f) except as provided below, does not have any Receivables which are Defaulted Receivables; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (f) except as provided below, does not have any Receivables which are Defaulted Receivables; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (f) except as provided below, does not have any Receivables which are
Defaulted Receivables; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of
August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (f) except as provided below, does
not have any Receivables which are Defaulted Receivables; 

  
 Sch 7 - 1 

 Schedule 7 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (f) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (f) which does not have any Receivables which are Defaulted Receivables; 

Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(f) which does not have any Receivables which are Defaulted Receivables; 

  
 Sch 7 - 2 

 Schedule 8 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (g) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (g) does not have any Receivables which have been identified by the Seller or the relevant
Obligor as having been incurred as a result of the fraudulent use of any related credit card or check; 
 Pooling and Servicing Agreement dated as of
September 30, 1993, as amended and restated as of April 9, 2001. 
 (g) does not have any Receivables which have been
identified by such Seller or the relevant Obligor as having been incurred as a result of fraudulent use of any related credit card or check; 
 Amended
and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(g) does not have any Receivables which have been identified by the Transferor, the Account Owner or the relevant Obligor as having been
incurred as a result of the fraudulent use of any related credit card or check; 
 Amended and Restated Pooling and Servicing Agreement dated as of
September 30, 1993, as amended and restated as of August 1, 2002 and January 13, 2006. 
 (g) does not have any
Receivables which have been identified by the Transferor, the Account Owner or the relevant Obligor as having been incurred as a result of the fraudulent use of any related credit card or check; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (g) does not have any Receivables which have been identified by the
Transferor, the Account Owner or the relevant Obligor as having been incurred as a result of the fraudulent use of any related credit card or check; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (g) does not have any Receivables which have been
identified by the Transferor, the Account Owner or the relevant Obligor as having been incurred as a result of the fraudulent use of any related credit card or check; 

  
 Sch 8 - 1 

 Schedule 8 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (g) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (g) which does not have any Receivables which have been identified by Capital One or the relevant
Obligor as having been incurred as a result of the fraudulent use of any related credit card or check; 
 Amended and Restated Receivables Purchase
Agreement dated as of July 1, 2007. 
 (g) which does not have any Receivables which have been identified by Capital One or the
relevant Obligor as having been incurred as a result of the fraudulent use of any related credit card or check; 

  
 Sch 8 - 2 

 Schedule 9 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (h) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (h) relates to an Obligor who is not identified by the Seller in its computer files as being the
subject of a voluntary or involuntary bankruptcy proceeding; 
 Pooling and Servicing Agreement dated as of September 30, 1993, as amended and
restated as of April 9, 2001. 
 (h) relates to an Obligor who is not identified by the Seller in its computer files as being the
subject of a voluntary or involuntary bankruptcy proceeding; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993,
as amended and restated as of August 1, 2002. 
 (h) relates to an Obligor who is not identified by the Account Owner or by the
Transferor in its computer files as being the subject of a voluntary or involuntary bankruptcy proceeding; 
 Amended and Restated Pooling and Servicing
Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and January 13, 2006. 
 (h)
relates to an Obligor who is not identified by the Account Owner or by the Transferor in its computer files as being the subject of a voluntary or involuntary bankruptcy proceeding; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (h) relates to an Obligor who is not identified by the Account Owner or by the
Transferor in its computer files as being the subject of a voluntary or involuntary bankruptcy proceeding; 
 Amended and Restated Pooling and Servicing
Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 

(h) relates to an Obligor who is not identified by the Account Owner or by the Transferor in its computer files as being the subject of a
voluntary or involuntary bankruptcy proceeding; 

  
 Sch 9 - 1 

 Schedule 9 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (h) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (h) which relates to an Obligor who is not identified by Capital One in its computer files as being
the subject of a voluntary or involuntary bankruptcy proceeding; 
 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007.

 (h) which relates to an Obligor who is not identified by Capital One in its computer files as being the subject of a voluntary or
involuntary bankruptcy proceeding; 

  
 Sch 9 - 2 

 Schedule 10 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (i) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (i) is not an account with respect to which the Obligor has requested discontinuance of
responsibility; 
 Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001. 

(i) is not an account with respect to which the Obligor has requested discontinuance of responsibility; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(i) is not an account with respect to which the Obligor has requested discontinuance of responsibility; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (i) is not an account with respect to which the Obligor has requested discontinuance of responsibility; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (i) is not an account with respect to which the Obligor has requested
discontinuance of responsibility; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as
of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (i) is not an account with respect
to which the Obligor has requested discontinuance of responsibility; 

  
 Sch 10 - 1 

 Schedule 10 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (i) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (i) which is not an account with respect to which the Obligor has requested discontinuance of
responsibility; 
 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(i) is not an account with respect to which the Obligor has requested discontinuance of responsibility; 

  
 Sch 10 - 2 

 Schedule 11 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (j) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 Not applicable. 

Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001. 

Not applicable. 
 Amended and Restated Pooling and Servicing
Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 
 Not applicable. 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 Not applicable. 
 Amended and
Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 

(j) does not have any Receivables that give rise to any claim against any Governmental Authority; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (j) does not have any Receivables that give rise to
any claim against any Governmental Authority; 
 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE ACCOUNT” DEFINITION 

CLAUSE (j) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 Not applicable. 

  
 Sch 11 - 1 

 Schedule 11 to Exhibit A 

 

 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(j) which does not have any Receivables that give rise to any claim against any Governmental Authority; 

  
 Sch 11 - 2 

 Schedule 12 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT REPRESENTATIONS AND WARRANTIES 

Pooling and Servicing Agreement dated as of September 30, 1993. 

Section 2.04(a)(viii) on the Trust Cut-off date, each Receivable then existing was an Eligible Receivable and, in the case of Additional
Accounts, on the Addition Date with respect thereto, each Receivable contained therein will be an Eligible Receivable; 

Section 2.04(a)(ix) upon the creation of any new Receivable, such Receivable will be an Eligible Receivable; 

Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001. 

Section 2.04(a)(viii) on the Trust Cut-off date, each Receivable then existing was an Eligible Receivable and, in the case of Additional
Accounts, on the Addition Date with respect thereto, each Receivable contained therein will be an Eligible Receivable; 

Section 2.04(a)(ix) upon the creation of any new Receivable, such Receivable will be an Eligible Receivable; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

Section 2.04(a)(viii) on the applicable Additional Cut-Off Date, each Receivable then existing in each related Additional Account is an
Eligible Receivable; 
 Section 2.04(a)(ix) upon the creation of any new Receivable transferred by the Transferor to the Trustee, such
Receivable is an Eligible Receivable; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and
restated as of August 1, 2002 and January 13, 2006. 
 Section 2.04(a)(viii) on the applicable Additional Cut-Off Date,
each Receivable then existing in each related Additional Account is an Eligible Receivable; 
 Section 2.04(a)(ix) upon the creation of
any new Receivable transferred by the Transferor to the Trustee, such Receivable is an Eligible Receivable; 
 Amended and Restated Pooling and Servicing
Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 

Section 2.04(a)(viii) on the applicable Additional Cut-Off Date, each Receivable then existing in each related Additional Account is an
Eligible Receivable; 

  
 Sch 12 - 1 

 Schedule 12 to Exhibit A 

 

 Section 2.04(a)(ix) upon the creation of any new Receivable transferred by the
Transferor to the Trustee, such Receivable is an Eligible Receivable; 
 Amended and Restated Pooling and Servicing Agreement dated as of
September 30, 1993, as amended and restated as of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 

Section 2.04(a)(viii) on the applicable Additional Cut-Off Date, each Receivable then existing in each related Additional Account is an
Eligible Receivable; 
 Section 2.04(a)(ix) upon the creation of any new Receivable transferred by the Transferor to the Trustee, such
Receivable is an Eligible Receivable; 
 RECEIVABLES PURCHASE AGREEMENT — REPRESENTATIONS AND WARRANTIES 

Receivables Purchase Agreement dated as of August 1, 2002. 

Section 4.02(a)(vii) on the Initial Cut-Off Date, with respect to each Initial Account, and on the applicable Additional Cut-Off Date,
with respect to each Additional Account, each Receivable contained in such Account on such applicable date and sold to Funding by Capital One is an Eligible Receivable; 

Section 4.02(a)(viii) as of the date of the creation of any new Receivable sold to Funding by Capital One, such Receivable is an Eligible
Receivable; 
 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

Section 4.02(a)(vii) on the Initial Cut-Off Date, with respect to each Initial Account, and on the applicable Additional Cut-Off Date,
with respect to each Additional Account, each Receivable contained in such Account on such applicable date and sold to Funding by Capital One is an Eligible Receivable; 

Section 4.02(a)(viii) as of the date of the creation of any new Receivable sold to Funding by Capital One, such Receivable is an Eligible
Receivable; 

  
 Sch 12 - 2 

 Schedule 13 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (a) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (a) which has arisen under an Eligible Account; 

Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001. 

(a) which has arisen under an Eligible Account; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(a) which has arisen in an Eligible Account; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (a) which has arisen in an Eligible Account; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (a) which has arisen in an Eligible Account; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (a) which has arisen in an Eligible Account; 

RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (a) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (a) which has arisen in an Eligible Account; 

  
 Sch 13 - 1 

 Schedule 13 to Exhibit A 

 

 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(a) which has arisen in an Eligible Account; 

  
 Sch 13 - 2 

 Schedule 14 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (b) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (b) which was created in compliance in all material aspects with the Lending Guidelines and all
Requirements of Law applicable to the Seller, the failure to comply with which would have a material adverse effect on Investor Certificateholders, and pursuant to a Lending Agreement which complies with all Requirements of Law applicable to the
Seller, the failure to comply with which would have a material adverse effect on Investor Certificateholders; 
 Pooling and Servicing Agreement dated as
of September 30, 1993, as amended and restated as of April 9, 2001. 
 (b) which was created in compliance in all material
aspects with the Lending Guidelines and all Requirements of Law applicable to the Seller, the failure to comply with which would have a material adverse effect on Investor Certificateholders, and pursuant to a Lending Agreement which complies with
all Requirements of Law applicable to the applicable Seller, the failure to comply with which would have a material adverse effect on Investor Certificateholders; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(b) which was created in compliance in all material aspects with the Lending Guidelines and all Requirements of Law applicable to the Account
Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders, and pursuant to a Lending Agreement which complies with all Requirements of Law applicable to the Account Owner, the failure to comply with
which would have a material adverse effect on Investor Certificateholders; 
 Amended and Restated Pooling and Servicing Agreement dated as of
September 30, 1993, as amended and restated as of August 1, 2002 and January 13, 2006. 
 (b) which was created in
compliance in all material aspects with the Lending Guidelines and all Requirements of Law applicable to the Account Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders, and pursuant to a
Lending Agreement which complies with all Requirements of Law applicable to the Account Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders; 

  
 Sch 14 - 1 

 Schedule 14 to Exhibit A 

 

 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and
restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 
 (b) which was created in compliance in all
material aspects with the Lending Guidelines and all Requirements of Law applicable to the Account Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders, and pursuant to a Lending Agreement which
complies with all Requirements of Law applicable to the Account Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (b) which was created in compliance in all material
aspects with the Lending Guidelines and all Requirements of Law applicable to the Account Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders, and pursuant to a Lending Agreement which complies
with all Requirements of Law applicable to the Account Owner, the failure to comply with which would have a material adverse effect on Investor Certificateholders; 

RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (b) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (b) which was created in compliance in all material respects with the Lending Guidelines and all
Requirements of Law applicable to Capital One and pursuant to a Lending Agreement which complies with all Requirements of Law applicable to Capital One; 

Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(b) which was created in compliance in all material respects with the Lending Guidelines and all Requirements of Law applicable to Capital One
and pursuant to a Lending Agreement which complies with all Requirements of Law applicable to Capital One; 

  
 Sch 14 - 2 

 Schedule 15 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (c) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (c) with respect to which all material consents, licenses, approvals or authorizations of, or
registrations or declarations with, any Governmental Authority required to be obtained, effected or given by the Seller in connection with the creation of such Receivable or the execution, delivery and performance by the Seller of its obligations,
if any, under the related Lending Agreement have been duly obtained, effected or given and are in full force and effect as of such date of creation of such Receivable; 

Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001. 

(c) with respect to which all material consents, licenses, approvals or authorizations of, or registrations or declarations with, any
Governmental Authority required to be obtained, effected or given by a Seller in connection with the creation of such Receivable or the execution, delivery and performance by such Seller of its obligations, if any, under the related Lending
Agreement have been duly obtained, effected or given and are in full force and effect as of such date of creation of such Receivable; 
 Amended and
Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 
 (c)
with respect to which all material consents, licenses, approvals or authorizations of, or registrations or declarations with, any Governmental Authority required to be obtained, effected or given by the Account Owner or the Transferor in connection
with the creation of such Receivable or the execution, delivery and performance by the Account Owner or the Transferor of its obligations, if any, under the related Lending Agreement have been duly obtained, effected or given and are in full force
and effect; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002 and January 13, 2006. 
 (c) with respect to which all material consents, licenses, approvals or authorizations of, or
registrations or declarations with, any Governmental Authority required to be obtained, effected or given by the Account Owner or the Transferor in connection with the creation of such Receivable or the execution, delivery and performance by the
Account Owner or the Transferor of its obligations, if any, under the related Lending Agreement have been duly obtained, effected or given and are in full force and effect; 

  
 Sch 15 - 1 

 Schedule 15 to Exhibit A 

 

 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and
restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 
 (c) with respect to which all material consents,
licenses, approvals or authorizations of, or registrations or declarations with, any Governmental Authority required to be obtained, effected or given by the Account Owner or the Transferor in connection with the creation of such Receivable or the
execution, delivery and performance by the Account Owner or the Transferor of its obligations, if any, under the related Lending Agreement have been duly obtained, effected or given and are in full force and effect; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (c) with respect to which all material consents,
licenses, approvals or authorizations of, or registrations or declarations with, any Governmental Authority required to be obtained, effected or given by the Account Owner or the Transferor in connection with the creation of such Receivable or the
execution, delivery and performance by the Account Owner or the Transferor of its obligations, if any, under the related Lending Agreement have been duly obtained, effected or given and are in full force and effect; 

RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (c) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (c) with respect to which all material consents, licenses, approvals or authorizations of, or
registrations or declarations with, any Governmental Authority required to be obtained, effected or given by Capital One in connection with the creation of such Receivable or the execution, delivery and performance by Capital One of its obligations,
if any, under the related Lending Agreement have been duly obtained, effected or given and are in full force and effect; 
 Amended and Restated
Receivables Purchase Agreement dated as of July 1, 2007. 
 (c) with respect to which all material consents, licenses, approvals or
authorizations of, or registrations or declarations with, any Governmental Authority required to be obtained, effected or given by Capital One in connection with the creation of such Receivable or the execution, delivery and performance by Capital
One of its obligations, if any, under the related Lending Agreement have been duly obtained, effected or given and are in full force and effect; 

  
 Sch 15 - 2 

 Schedule 16 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (d) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (d) as to which, at the time of its transfer to the Trust, the Seller or the Trust, will have
good and marketable title free and clear of all Liens (other than any Lien for municipal or other local taxes if such taxes are not then due and payable or if the Seller is then contesting the validity thereof in good faith by appropriate
proceedings and has set aside on its books adequate reserves with respect thereto); 
 Pooling and Servicing Agreement dated as of September 30,
1993, as amended and restated as of April 9, 2001. 
 (d) as to which, at the time of its transfer to the Trust, the applicable
Seller or the Trust will have good and marketable title, free and clear of all Liens (other than any Lien for municipal or other local taxes if such taxes are not then due and payable or if such Seller is then contesting the validity thereof in good
faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto); 
 Amended and Restated Pooling and Servicing
Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 
 (d) as to which, at the time of its
transfer to the Trustee, the Transferor or the Trustee will have good and marketable title, free and clear of all Liens (including a prior Lien of the Account Owner but excluding any Lien for municipal or other local taxes if such taxes are not then
due and payable or if the Transferor is then contesting the validity thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto); 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (d) as to which, at the time of its transfer to the Trustee, the Transferor or the Trustee will have good and
marketable title, free and clear of all Liens (including a prior Lien of the Account Owner but excluding any Lien for municipal or other local taxes if such taxes are not then due and payable or if the Transferor is then contesting the validity
thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto); 

  
 Sch 16 - 1 

 Schedule 16 to Exhibit A 

 

 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and
restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 
 (d) as to which, at the time of its transfer to
the Trustee, the Transferor or the Trustee will have good and marketable title, free and clear of all Liens (including a prior Lien of the Account Owner but excluding any Lien for municipal or other local taxes if such taxes are not then due and
payable or if the Transferor is then contesting the validity thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto); 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (d) as to which, at the time of its transfer to the
Trustee, the Transferor or the Trustee will have good and marketable title, free and clear of all Liens (including a prior Lien of the Account Owner but excluding any Lien for municipal or other local taxes if such taxes are not then due and payable
or if the Transferor is then contesting the validity thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto); 

RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (d) 
 Receivables Purchase Agreement dated
as of August 1, 2002. 
 (d) as to which, at the time of its sale of such Receivable to Funding, Capital One has good and marketable
title thereto and which itself is free and clear of all Liens; 
 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007.

 (d) as to which, at the time of its sale of such Receivable to Funding, Capital One has good and marketable title thereto and which
itself is free and clear of all Liens; 

  
 Sch 16 - 2 

 Schedule 17 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (f) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (f) which at and after the time of transfer to the Trust is the legal, valid and binding payment
obligation of the Obligor thereon, legally enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership,
conservatorship· 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) or matters as to which the Servicer is required by Section 3.09 to make an adjustment; 
 Pooling and Servicing Agreement
dated as of September 30, 1993, as amended and restated as of April 9, 2001. 
 (f) which at and after the time of transfer to
the Trust is the legal, valid and binding payment obligation of the obligor thereon, legally enforceable against such obligor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, receivership, conservatorship 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) or matters as to which the Servicer is required by Section 3.09 to make an adjustment; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(f) which at and after the time of transfer to the Trustee is the legal, valid and binding payment obligation of the Obligor thereon, legally
enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered in a
suit at law or in equity); 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of
August 1, 2002 and January 13, 2006. 
 (f) which at and after the time of transfer to the Trustee is the legal, valid and
binding payment obligation of the Obligor thereon, legally enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as such enforceability may be limited
by general principles of equity (whether considered in a suit at law or in equity); 

  
 Sch 17 - 1 

 Schedule 17 to Exhibit A 

 

 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and
restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 
 (f) which at and after the time of transfer to
the Trustee is the legal, valid and binding payment obligation of the Obligor thereon, legally enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as
such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); 
 Amended and Restated Pooling
and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 

(f) which at and after the time of transfer to the Trustee is the legal, valid and binding payment obligation of the Obligor thereon, legally
enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered in a
suit at law or in equity); 
 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (f) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (f) which is the legal, valid and binding payment obligation of the Obligor thereon, enforceable
against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or
in equity); 
 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(f) which is the legal, valid and binding payment obligation of the Obligor thereon, enforceable against such Obligor in accordance with its
terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); 

  
 Sch 17 - 2 

 Schedule 18 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (g) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (g) which constitutes either an “account” or a “general intangible” under and
as defined in Article 9 of the UCC; 
 Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9,
2001. 
 (g) which constitutes either an “account” or a “general intangible” under and as defined in Article 9 of the
UCC; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002.

 (g) which constitutes an “account” as defined in Article 9 of the New York UCC and the Virginia UCC 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (g) which constitutes an “account” as defined in Article 9 of the New York UCC and the Virginia UCC;

 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (g) which constitutes an “account” as defined in Article 9 of the
New York UCC and the Virginia UCC; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated
as of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (g) which constitutes an
“account” as defined in Article 9 of the New York UCC and the Virginia UCC; 

  
 Sch 18 - 1 

 Schedule 18 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (g) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (g) which constitutes an “account” as defined in Article 9 of the UCC as then in effect in
the State of New York and the Commonwealth of Virginia; 
 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(g) which constitutes an “account” as defined in Article 9 of the UCC as then in effect in the State of New York and the Commonwealth
of Virginia; 

  
 Sch 18 - 2 

 Schedule 19 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (h) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (h) which, at the time of its transfer to the Trust, has not been waived or modified except as
permitted in accordance with Section 3.03(h); 
 Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of
April 9, 2001. 
 (h) which, at the time of its transfer to the Trust, has not been waived or modified except as permitted in
accordance with Section 3.03(h) 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated
as of August 1, 2002. 
 (h) which, at the time of its transfer to the Trustee, has not been waived or modified; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (h) which, at the time of its transfer to the Trustee, has not been waived or modified; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (h) which, at the time of its transfer to the Trustee, has not been waived or
modified; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (h) which, at the time of its transfer to the
Trustee, has not been waived or modified; 

  
 Sch 19 - 1 

 Schedule 19 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (h) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (h) which, at the time of its sale to Funding, has not been waived or modified; 

Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(h) which, at the time of its sale to Funding, has not been waived or modified; 

  
 Sch 19 - 2 

 Schedule 20 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (i) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (i) which, at the time of its transfer to the Trust, is not subject to any right of rescission,
setoff, counterclaim or any other defense of the Obligor (including the defense of usury), other than defenses arising out of applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws
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 equity) or matters as to which the Servicer is required by
Section 3.09 to make an adjustment; 
 Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of
April 9, 2001. 
 (i) which, at the time of its transfer to the Trust, is not subject to any right of rescission, setoff,
counterclaim or any other defense of the Obligor (including the defense of usury), other than defenses arising out of applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar laws 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 equity) or matters as to which the Servicer is required by Section 3.09 to
make an adjustment; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of
August 1, 2002. 
 (i) which, at the time of its transfer to the Trustee, is not subject to any right of rescission, setoff,
counterclaim or any other defense of the Obligor (including the defense of usury), other than defenses arising out of applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered
in a suit at law or equity; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of
August 1, 2002 and January 13, 2006. 
 (i) which, at the time of its transfer to the Trustee, is not subject to any right of
rescission, setoff, counterclaim or any other defense of the Obligor (including the defense of usury), other than defenses arising out of applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity
(whether considered in a suit at law or equity);; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended
and restated as of August 1, 2002, January 13, 2006 and July 1, 2007. 
 (i) which, at the time of its transfer to
the Trustee, is not subject to any right of rescission, setoff, counterclaim or any other defense of the Obligor (including the defense of 

  
 Sch 20 - 1 

 Schedule 20 to Exhibit A 

 

 
usury), other than defenses arising out of applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or
equity); 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (i) which, at the time of its transfer to the
Trustee, is not subject to any right of rescission, setoff, counterclaim or any other defense of the Obligor (including the defense of usury), other than defenses arising out of applicable Debtor Relief Laws and except as such enforceability may be
limited by general principles of equity (whether considered in a suit at law or equity); 
 RECEIVABLES PURCHASE AGREEMENT —
“ELIGIBLE RECEIVABLE” DEFINITION 
 CLAUSE (i) 

Receivables Purchase Agreement dated as of August 1, 2002. 

(i) which, at the time of its sale to Funding, is not subject to any right of rescission, setoff, counterclaim or any other defense of the
Obligor (including the defense of usury), other than defenses arising out of applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); 

Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(i) which, at the time of its sale to Funding, is not subject to any right of rescission, setoff, counterclaim or any other defense of the
Obligor (including the defense of usury), other than defenses arising out of applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); 

  
 Sch 20 - 2 

 Schedule 21 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (j) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (j) as to which, at the time of its transfer to the Trust, the Seller has satisfied all
obligations on its part to be fulfilled at the time it is transferred to the Trust; 
 Pooling and Servicing Agreement dated as of September 30,
1993, as amended and restated as of April 9, 2001. 
 (j) as to which, at the time of its transfer to the Trust, the applicable
Seller has satisfied all obligations on its part to be fulfilled at the time it is transferred to the Trust; 
 Amended and Restated Pooling and
Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 
 (j) as to which, at the
time of its transfer to the Trustee, the Transferor has satisfied all obligations on its part to be fulfilled; 
 Amended and Restated Pooling and
Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and January 13, 2006. 

(j) as to which, at the time of its transfer to the Trustee, the Transferor has satisfied all obligations on its part to be fulfilled; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (j) as to which, at the time of its transfer to the Trustee, the Transferor
has satisfied all obligations on its part to be fulfilled; 
 Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993,
as amended and restated as of August 1, 2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (j) as
to which, at the time of its transfer to the Trustee, the Transferor has satisfied all obligations on its part to be fulfilled; 

  
 Sch 21 - 1 

 Schedule 21 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (j) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (j) as to which, at the time of its sale to Funding, Capital One has satisfied all obligations on its
part to be fulfilled under the Lending Agreement; 
 Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(j) as to which, at the time of its sale to Funding, Capital One has satisfied all obligations on its part to be fulfilled under the Lending
Agreement; 

  
 Sch 21 - 2 

 Schedule 22 to Exhibit A 

 

 POOLING AND SERVICING AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (k) 
 Pooling and Servicing Agreement
dated as of September 30, 1993. 
 (k) as to which, at the time of its transfer to the Trust, the Seller has not taken any action
which, or failed to take any action the omission of which, would, at the time of its transfer to the Trust, impair in any material respect the rights of the Trust or the Certificateholders therein; 

Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of April 9, 2001. 

(k) as to which, at the time of its transfer to the Trust, the applicable Seller has not taken any action which, or failed to take any action
the omission of which, would, at the time of its transfer to the Trust, impair in any material respect the rights of the Trust or the Certificateholders therein; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002. 

(k) as to which, at the time of its transfer to the Trustee, the Transferor has not taken any action which, or failed to take any action the
omission of which, would, at the time of its transfer to the Trustee, impair in any material respect the rights of the Trust or the Certificateholders therein; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1, 2002 and
January 13, 2006. 
 (k) as to which, at the time of its transfer to the Trustee, the Transferor has not taken any action which, or
failed to take any action the omission of which, would, at the time of its transfer to the Trustee, impair in any material respect the rights of the Trust or the Certificateholders therein; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006 and July 1, 2007. 
 (k) as to which, at the time of its transfer to the Trustee, the Transferor
has not taken any action which, or failed to take any action the omission of which, would, at the time of its transfer to the Trustee, impair in any material respect the rights of the Trust or the Certificateholders therein; 

Amended and Restated Pooling and Servicing Agreement dated as of September 30, 1993, as amended and restated as of August 1,
2002, January 13, 2006, July 1, 2007 and March 17, 2016. 
 (k) as to which, at the time of its transfer to the
Trustee, the Transferor has not taken any action which, or failed to take any action the omission of which, would, at the time of its transfer to the Trustee, impair in any material respect the rights of the Trust or the Certificateholders therein;

  
 Sch 22 - 1 

 Schedule 22 to Exhibit A 

 

 RECEIVABLES PURCHASE AGREEMENT — “ELIGIBLE RECEIVABLE” DEFINITION 

CLAUSE (k) 
 Receivables Purchase Agreement
dated as of August 1, 2002. 
 (k) as to which, at the time of its sale to Funding, Capital One has not taken any action which, or
failed to take any action the omission of which, would, at the time of its sale to Funding, impair in any material respect the rights of Funding therein; 

Amended and Restated Receivables Purchase Agreement dated as of July 1, 2007. 

(k) as to which, at the time of its sale to Funding, Capital One has not taken any action which, or failed to take any action the omission of
which, would, at the time of its sale to Funding, impair in any material respect the rights of Funding therein; 

  
 Sch 22 - 2

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