Document:

EX-10.25

 Exhibit 10.25 

FORM OF LOAN AGREEMENT (Series 2014-VFN[—], Class A) 

Dated as of [—] [—], 2014 

by and among 
 GE CAPITAL CREDIT
CARD MASTER NOTE TRUST, 
 as Borrower, 

THE LENDERS PARTIES HERETO 
 and

 THE MANAGING AGENTS FOR THE LENDER 

GROUPS PARTIES HERETO 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I
	 	DEFINITIONS AND INTERPRETATION	  	 	1	  
			
	 Section 1.1.
	 	 Definitions
	  	 	1	  
	 Section 1.2.
	 	 Other Interpretive Matters
	  	 	10	  
	 Section 1.3.
	 	 Appendices
	  	 	11	  
	 Section 1.4.
	 	 Intended Characterization
	  	 	11	  
			
	 ARTICLE II
	 	 COMMITMENT; THE ADVANCES
	  	 	11	  
			
	 Section 2.1.
	 	 The Advances
	  	 	11	  
	 Section 2.2.
	 	 Notices Relating to Advances
	  	 	12	  
	 Section 2.3.
	 	 Advance Procedures
	  	 	12	  
	 Section 2.4.
	 	 Reduction of Loan Agreement Limit
	  	 	12	  
	 Section 2.5.
	 	 Class A Note
	  	 	12	  
	 Section 2.6.
	 	 Principal Repayments
	  	 	13	  
	 Section 2.7.
	 	 Calculation of the Funding Rates; Payment of Interest, Fees, Etc
	  	 	13	  
	 Section 2.8.
	 	 Payments; Withholding
	  	 	14	  
	 Section 2.9.
	 	 Increased Costs, Etc
	  	 	16	  
			
	 ARTICLE III
	 	 CONDITIONS PRECEDENT
	  	 	18	  
			
	 Section 3.1.
	 	 Conditions to Initial Advance
	  	 	18	  
	 Section 3.2.
	 	 Additional Conditions Precedent to each Advance
	  	 	19	  
			
	 ARTICLE IV
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	20	  
			
	 Section 4.1.
	 	 Representations and Warranties of the Borrower
	  	 	20	  
	 Section 4.2.
	 	 Representations and Warranties of the Lenders and the Managing Agents
	  	 	22	  
	 Section 4.3.
	 	 Certification of the Managing Agent
	  	 	23	  
			
	 ARTICLE V
	 	 GENERAL COVENANTS OF THE BORROWER
	  	 	23	  
			
	 Section 5.1.
	 	 Covenants of the Borrower
	  	 	23	  
	 Section 5.2.
	 	 Reporting Requirements of the Borrower
	  	 	24	  
			
	 ARTICLE VI
	 	 INDEMNIFICATION
	  	 	25	  
			
	 Section 6.1.
	 	 Indemnities by the Borrower
	  	 	25	  
	 Section 6.2.
	 	 Limitation of Damages; Indemnified Persons
	  	 	26	  
			
	 ARTICLE VII
	 	 MISCELLANEOUS
	  	 	26	  
			
	 Section 7.1.
	 	 Notices
	  	 	26	  
	 Section 7.2.
	 	 Binding Effect; Assignability
	  	 	27	  
	 Section 7.3.
	 	 Termination; Survival
	  	 	28	  
	 Section 7.4.
	 	 Costs, Expenses and Taxes
	  	 	28	  
	 Section 7.5.
	 	 Limited Recourse
	  	 	29	  
	 Section 7.6.
	 	 Confidentiality
	  	 	30	  

  
 GE Capital Credit
Card Master Note Trust, 
 Loan Agreement (Series 2014-VFN[—], Class
A) 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

 

							
	 	 	 	  	Page	 
	 Section 7.7.
	 	 No Proceedings
	  	 	32	  
	 Section 7.8.
	 	 Complete Agreement; Modification of Agreement
	  	 	32	  
	 Section 7.9.
	 	 Amendments and Waivers
	  	 	32	  
	 Section 7.10.
	 	 GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL
	  	 	33	  
	 Section 7.11.
	 	 Counterparts
	  	 	34	  
	 Section 7.12.
	 	 Severability
	  	 	34	  
	 Section 7.13.
	 	 Section Titles
	  	 	34	  
	 Section 7.14.
	 	 Servicing Agreement; Borrower Administration Agreement
	  	 	34	  
	 Section 7.15.
	 	 Limitation of Liability of the Trustee
	  	 	34	  
	 Section 7.16.
	 	 Replacement of Downgraded Bank Sponsored Lenders
	  	 	35	  
	 Section 7.17.
	 	 Consent and Release
	  	 	35	  

 SCHEDULES AND EXHIBITS 
  

			
	Exhibit A	  	Form of Borrowing Notice
		
	Schedule A	  	Lenders Groups, Bank Sponsored Lenders, Committed Lenders, Managing Agents and Related Information

  
 GE Capital Credit
Card Master Note Trust, 
 Loan Agreement (Series 2014-VFN[—], Class
A) 

  
 ii 

 LOAN AGREEMENT (Series
2014-VFN[—], Class A), dated as of [—] [—], 2014 (this
“Agreement”), by and among: (i) GE Capital Credit Card Master Note Trust, a statutory trust organized under the laws of the State of Delaware (the “Borrower”); (ii) the Lenders party hereto from
time to time; and (iii) the Managing Agents party hereto from time to time. 
 In consideration of the premises and the mutual
covenants hereinafter contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS
AND INTERPRETATION 
 Section 1.1. Definitions. Unless otherwise defined herein, terms defined in the Indenture Supplement
are used herein as defined therein, or if not defined in the Indenture Supplement, but defined in the Indenture, as defined in the Indenture. Capitalized terms used in this Agreement shall have (unless otherwise provided elsewhere herein) the
following respective meanings: 
 “Accounting Changes” means, with respect to any Person, an adoption of GAAP different
from such principles previously used for reporting purposes by such Person as permitted or required by GAAP. 

“Administrator” means General Electric Capital Corporation in its capacity as administrator for the Borrower under the
Borrower Administration Agreement or any other Person designated as a successor thereunder. 
 “Administration Assignment”
is defined in Section 7.17(a). 
 “Advance” is defined in Section 2.1(a). 

“Advances Outstanding” means, for any day, the aggregate principal amount of the Advances outstanding on such day, after
giving effect to all repayments and fundings of the Advances on such day. 
 “Adverse Claim” means any claim of ownership
or any lien other than Permitted Encumbrances. 
 “Affected Party” means each of the following Persons: each Managing
Agent, each Lender, each Liquidity Provider and each corporation owning, directly or indirectly, any Lender, Managing Agent or Liquidity Provider that is a bank. 

“Affiliate” means, with respect to any Person, (a) each Person that, directly or indirectly, owns or controls, whether
beneficially, or as a trustee, guardian or other fiduciary, five percent (5%) or more of the Stock having ordinary voting power in the election of directors of such Person, (b) each Person that controls, is controlled by or is under common
control with such Person, or (c) each of such Person’s officers, directors, joint venturers and partners. For the purposes of this definition, “control” of a Person means the possession, directly or indirectly, of the power to
direct or cause the direction of its management or policies, whether through the ownership of voting securities, by contract or otherwise. 

  

					
		 		 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 “Agreement” is defined in the preamble. 

“Alternative Fee Rate” for any Lender Group has the meaning specified in the Fee Letter for such Lender Group. 

“Alternative Rate” shall mean, with respect to any Lender for any Interest Period (or any portion thereof), an interest rate
per annum equal to the Eurodollar Rate for such Interest Period (or portion thereof); provided, however, that: 
 (a) if the Alternative
Rate becomes applicable with respect to such Lender and any portion of such Lender’s Lender Interest without at least three Business Days’ prior notice, then, for such portion, the Alternative Rate for each day prior to the third Business
Day following the date of such notice shall be the Base Rate or such other rate as may be agreed between the applicable Managing Agent on behalf of such Lender and the Borrower; 

(b) if the aggregate portion of such Lender’s Lender Interest on any day to be funded by such Lender or any of its Liquidity Providers at
the Alternative Rate is less than $1,000,000, then the Alternative Rate for such Lender for such day shall be the Base Rate or such other rate as may be agreed between the applicable Managing Agent on behalf of such Lender and the Borrower; and 

(c) if a Eurodollar Rate Disruption Event shall have occurred, the Alternative Rate shall be the Base Rate or such other rate as may be agreed
between the applicable Managing Agent on behalf of such Lender and the Borrower. 
 “Bank Sponsored Lender” means each
party designated as a “Bank Sponsored Lender” on the signature pages and Schedule A to this Agreement or in the applicable joinder or assignment documentation pursuant to which such Person becomes a party to this Agreement. 

“Bank Sponsored Lender Liquidity Arrangement” means each liquidity, credit enhancement or “back-stop” purchase or
loan facility for a Bank Sponsored Lender relating to this Agreement (but not including the Commitment of a Committed Lender under this Agreement). 

“Base Rate” means, for any Lender and any day, a fluctuating rate per annum equal to the higher of (a) the Federal Funds
Rate for such day, plus 0.50% and (b) the floating commercial loan rate of interest in effect for such day as publicly announced from time to time by such Lender or its Managing Agent as its “prime rate;” provided, however, to the
extent neither the Lender nor its Managing Agent publicly announces its prime rate, then the rate of interest in effect for such day for clause (b) is that identified and normally published in the “Money Rates” section of The Wall
Street Journal (New York Edition) as the “prime rate” (or, if more than one rate is published as the prime rate, then the average of such rates) (and, if The Wall Street Journal (New York Edition) no longer reports the prime rate, or if
such prime rate no longer exists, or the Managing Agent determines in good faith that the rate so reported no longer accurately reflects an accurate determination of the prevailing prime rate, then the Managing

  

					
		 	
 2
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
Agent may select a reasonably comparable index or source to use as the basis for the prime rate). The “prime rate” is a rate set by such Lender or its Managing Agent based upon various
factors including such Person’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such announced rate. Any change in the
prime rate announced by such Person shall take effect at the opening of business on the day specified in the public announcement of such change. Each determination of the Base Rate and interest accrued by reference to the Base Rate shall be
calculated on the basis of actual days elapsed and the number of days in the related calendar year. 
 “Borrower” means GE
Capital Credit Card Master Note Trust, a statutory trust organized under the laws of the State of Delaware. 
 “Borrower
Administration Agreement” means the Administration Agreement, dated as of September 25, 2003, among the Borrower, the Administrator and BNY Mellon Trust of Delaware, as trustee. 

“Borrower Trust Agreement” means the Trust Agreement, dated as of September 25, 2003, of GE Capital Credit Card Master
Note Trust. 
 “Borrowing Notice” is defined in Section 2.2. 

“Claims” is defined in Section 7.17(b). 

“Class A Additional Amounts” means any amounts payable to any Affected Party hereunder or under the Indenture Supplement,
other than Interest, principal and Non-Use Fees in respect of the Class A Notes, including amounts payable under Sections 2.8, 2.9 and 6.1. 

“Class A Agreement Regarding Loans” means the Lenders’ Agreement Regarding GE Capital Credit Card Master Note Trust
Loans (Series 2014-VFN[—], Class A), dated as of [—] [—], 2014, among the Lenders and the
Managing Agents parties thereto from time to time. 
 “Class A Commitment Amount” means, for any Committed Lender, the
amount set forth as such for the initial Committed Lenders party hereto on Schedule A to this Agreement in the table setting forth the “Lender Groups” and, for any other Committed Lender, in the joinder or assignment documentation
by which such Lender became a party to this Agreement or assumed the Class A Commitment Amount (or a portion thereof) of another Lender hereunder. To the extent that any Committed Lender assigns any portion of its Class A Commitment Amount
pursuant to the terms of this Agreement and the Class A Agreement Regarding Loans, such Committed Lender’s Class A Commitment Amount shall be reduced by the amount thereof that is assigned. 

“Class A Non-Use Fee” for any Lender Group has the meaning specified in the Fee Letter for such Lender Group. 

  

					
		 	
 3
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 “Class A Note” means any Series
2014-VFN[—] Note issued under the Indenture to the Managing Agent for a Lender Group for the benefit of the Lenders in such Lender Group substantially in the form of Exhibit A-1 to the Indenture
Supplement. 
 “Class B Loan Agreement” means the Loan Agreement (Series
2014-VFN[—], Class B) dated as of [—] [—], 2014, among GE Capital Credit Card Master Note
Trust, the lenders parties thereto from time to time. 
 “Commercial Paper” means the short-term promissory notes of any
Bank Sponsored Lender or RIC issued and sold from time to time in the U.S. commercial paper market and other similar short-term debt instruments. 

“Commitment” means, for any Committed Lender, the maximum amount of such Committed Lender’s commitment to fund the
Advances hereunder, which shall be an amount equal to such Committed Lender’s Class A Commitment Amount. 
 “Committed
Bank Sponsored Lender” means each Committed Lender that is also a Bank Sponsored Lender. 
 “Committed Lender”
means each financial institution designated as a “Committed Lender” on the signature pages and Schedule A to this Agreement or in the applicable joinder or assignment documentation pursuant to which such financial institution
becomes a party to this Agreement. 
 “CP Rate” means, with respect to each Bank Sponsored Lender, a rate of interest equal
to the lesser of (i) a per annum rate equal to LIBOR for the applicable Interest Period plus 0.10% and (ii) the per annum rate (expressed as a percentage and an interest yield equivalent and calculated on the basis of
a 360-day year) equivalent to the weighted average of the per annum rates, as determined by the Managing Agent for the Lender Group of which such Lender is a member, paid or payable by such Lender from time to time as interest on or
otherwise in respect of Commercial Paper issued by such Lender to fund the making or maintenance of the Advances (and which may also be allocated in part to the funding of other assets of such Lender) during the related Interest Period (or portion
thereof) as determined by the applicable Managing Agent, which rates shall reflect and give effect to (i) certain documentation and transaction costs (including dealer and placement agent commissions) associated with the issuance of the
Commercial Paper, and (ii) other borrowings (other than under any Bank Sponsored Lender Liquidity Arrangement) by such Lender, including borrowings to fund small or odd dollar amounts that are not easily accommodated in the commercial paper
market, to the extent such amounts are allocated, in whole or in part, by the applicable Managing Agent to fund such Lender’s making or maintenance of the Advances during such Interest Period; provided, however, that if any component of such
rate is a discount rate, in calculating the CP Rate, the related Managing Agent shall for such component use the rate resulting from converting such discount rate to an interest bearing equivalent rate per annum; provided, further, that the CP Rate
with respect to any LIBOR Bank Sponsored Lender shall be LIBOR for the applicable Interest Period (or any portion thereof). 

  

					
		 	
 4
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 “Default Rate” means a rate per annum equal to the sum of (i) LIBOR as
determined for the applicable Interest Period and (ii) a margin of 2.00% per annum. 
 “Delegation
Date” is defined in Section 7.17(c). 
 “Dollars” or “$” means lawful currency of the
United States of America. 
 “Early Amortization Event” means a Trust Early Amortization Event or a Series 2014-VFN[—] Early Amortization Event. 
 “ERISA” means the Employee Retirement Income
Security Act of 1974 and any regulations promulgated thereunder. 
 “Eurodollar Rate” means, with respect to any Lender
Interest (or portion thereof), and with respect to any Interest Period (or portion thereof), a rate per annum equal to LIBOR for such Interest Period (or portion thereof) plus the Alternative Fee Rate. Each determination of the Eurodollar Rate shall
be calculated on the basis of actual days elapsed and a year of 360 days. 
 “Eurodollar Rate Disruption Event” shall mean,
any of the following: (a) a determination by any Lender that it would be contrary to law or to the directive of any central bank or other Governmental Authority for such Lender or its applicable funding source to obtain United States dollars in
the London interbank market to make or maintain the Advances for any Interest Period (or portion thereof) or (b) a determination by any Lender that by reason of circumstances affecting the London interbank market generally United States dollars
cannot be obtained in such market by such Lender or its applicable funding source to make or maintain the Advances for any Interest Period (or portion thereof). 

“FATCA” means Sections 1471 through Section 1474 of the Code (and any successor sections thereto) and any Treasury
regulations or official interpretations thereof. 
 “Federal Funds Rate” means, for any day and any Lender, the rate per
annum (rounded upwards, if necessary, to the nearest 1/100th of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as
published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next
preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate charged to such Lender or
its Managing Agent on such day on such transactions as determined by it. 
 “Fee Letter” means, with respect to any Lender
Group, the letter agreement designated therein as a Fee Letter related to the Class A Notes and then in effect, among the Borrower, RFS Holding, L.L.C. and the Managing Agent for such Lender Group. 

“Final Liquidation Date” means the earliest date, following the Closing Date, on which all Commitments have terminated, the
Advances Outstanding have been reduced to zero and all accrued and unpaid Interest, all Class A Non-Use Fees and all Class A Additional Amounts have been paid in full in cash. 

  

					
		 	
 5
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 “Funding Rate” means with respect to any Lender and any Interest Period or
portion thereof, a rate per annum equal to the rate of interest (or if more than one rate, the weighted average of the rates) equal to (a) to the extent such Lender is funding any portion of its Lender Interest for all or any
portion of such Interest Period through the issuance of Commercial Paper, the applicable CP Rate plus the applicable Program Fee Rate; and (b) to the extent such Lender is funding any portion of its Lender Interest for all or any portion
of such Interest Period other than through the issuance of Commercial Paper, the Alternative Rate; provided, however, that (i) at any time when any Early Amortization Event shall have occurred and be continuing, the Funding Rate
with respect to each Lender shall be the Default Rate; and (ii) to the extent that any Lender (or the applicable Managing Agent on its behalf) must determine the Funding Rate for any Interest Period prior to the end of such Interest Period,
such determination may be based on estimates of any of the component rates applicable during such Interest Period, and any overpayment or underpayment of interest resulting from such estimation shall be taken into account in calculating interest for
the next succeeding Interest Period, if any, as contemplated in Section 4.1(a) of the Indenture Supplement. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect on the Closing Date,
modified by Accounting Changes. 
 “Governmental Authority” means any nation or government, any state, county, city, town,
district, board, bureau, office, commission, any other municipality or other political subdivision thereof (including any educational facility, utility or other Person operated thereby), and any agency, department or other entity exercising
executive, legislative, judicial, regulatory or administrative functions of or pertaining to government and any accounting board or authority (whether or not a part of government) which is responsible for the establishment or interpretation of
national or international accounting principles. 
 “Group Limit” means, with respect to any Lender Group, the aggregate
amount of the Commitments of the Committed Lenders in such Lender Group. 
 “Indemnified Amounts” means, with respect to
any Person, any and all suits, actions, proceedings, claims, damages, losses, liabilities and expenses (including reasonable attorneys’ fees and disbursements and other reasonable out-of-pocket costs of investigation or defense, including those
incurred upon any appeal). 
 “Indenture” means the Master Indenture, dated as of September 25, 2003, between the
Borrower and Deutsche Bank Trust Company Americas, as indenture trustee. 
 “Indenture Supplement” means the Indenture
Supplement dated as of [—] [—], 2014, between the Borrower and the Indenture Trustee, supplementing the Indenture and relating to the Series
2014-VFN[—] Notes. 
 “Indenture Trustee” means Deutsche Bank Trust
Company Americas, as indenture trustee under the Indenture. 

  

					
		 	
 6
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 “Initial Advance” is defined in Section 2.1(a). 

“Interest” means Class A Monthly Interest, plus any Class A Additional Interest. 

“Investment Company Act” means the provisions of the Investment Company Act of 1940, 15 U.S.C. §§ 80a et seq., and
any regulations promulgated thereunder. 
 “IRS” is defined in Section 2.8(b). 

“Law” means any law (including common law), constitution, statute, treaty, regulation, rule, ordinance, order, injunction,
writ, decree or award of a Governmental Authority. 
 “Lender” means any Bank Sponsored Lender or Committed Lender, and
“Lenders” means, collectively, all Bank Sponsored Lenders and Committed Lenders. 
 “Lender Commitment
Percentage” means with respect to any Committed Lender, the percentage equivalent of a fraction, the numerator of which is such Committed Lender’s Commitment, and the denominator of which is equal to the aggregate of the Commitments of
all Committed Lenders in the related Lender Group. 
 “Lender Group” means any group of Lenders designated as such on the
signature pages and Schedule A to this Agreement or in the applicable joinder or amendment documentation, consisting of one or more Lenders, at least one of which shall be a Committed Lender, and a related Managing Agent. 

“Lender Indemnified Person” is defined in Section 6.1(a). 

“Lender Interest” means, with respect to any Lender at any time, the portion of the Advances Outstanding funded by such
Lender. 
 “LIBOR” means as defined in the Indenture Supplement. 

“LIBOR Bank Sponsored Lender” means a Bank Sponsored Lender designated as such on Schedule A to this Agreement or in the
applicable joinder or assignment documentation pursuant to which such Person becomes a party to this Agreement. 
 “Liquidity
Provider” means, with respect to the Bank Sponsored Lender(s) in any Lender Group, a party previously approved by GE Capital Retail Bank that has agreed to make Support Advances to the Bank Sponsored Lender(s) in such Lender Group pursuant
to a Bank Sponsored Lender Liquidity Arrangement. 
 “Litigation” means, with respect to any Person, any action, claim,
lawsuit, demand, investigation or proceeding pending or threatened against such Person before any court, board, commission, agency or instrumentality of any federal, state, local or foreign government or of any agency or subdivision thereof or
before any arbitrator or panel of arbitrators. 
 “Loan Agreement Limit” means, on any day, the aggregate of the
Commitments of all Committed Lenders in effect on such day. 

  

					
		 	
 7
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 “Lookback Period” is defined in Section 2.9(a). 

“Managing Agent” means, with respect to any Lender Group, the Person so designated on the signature pages and Schedule
A to this Agreement or in the applicable joinder or amendment documentation with respect to any Lender Group arising hereunder after the Closing Date. 

“Material Adverse Effect” means, with respect to the Borrower, a material adverse effect on (a) the ability of the
Borrower to perform any of its obligations under the Related Documents in accordance with the terms thereof, (b) the validity or enforceability of any Related Document or the rights and remedies of the Managing Agents or the Lenders under any
Related Document or (c) the Collateral or liens of the Indenture Trustee thereon or the priority of such liens. 
 “Maximum
Lawful Rate” is defined in Section 2.7(d). 
 “Maximum Loan Amount” means (i) with respect to any
Bank Sponsored Lender (other than a Committed Bank Sponsored Lender), the aggregate Commitments of the Committed Lenders with respect to such Bank Sponsored Lender; provided, however, that if such Committed Lenders are also Committed
Lenders with respect to other Bank Sponsored Lenders (other than Committed Bank Sponsored Lenders) in the same Lender Group, the aggregate of the Maximum Loan Amounts of all such Bank Sponsored Lenders shall not exceed the aggregate Commitments of
such Committed Lenders, and (ii) with respect to any Committed Bank Sponsored Lender, the amount of its Commitment. 

“Obligations” means all obligations (monetary or otherwise) of the Borrower to the Lenders, the Managing Agents or any other
Affected Party arising under or in connection with this Agreement, the Class A Notes and each other Related Document. 
 “Other
Borrower” means, with respect to any Bank Sponsored Lender, any Person, other than the Borrower, that has entered into a receivables purchase agreement, receivables transfer agreement, loan agreement or funding agreement with such Bank
Sponsored Lender. 
 “Person” means any individual, sole proprietorship, partnership, joint venture, unincorporated
organization, trust, association, corporation (including a business trust), limited liability company, institution, public benefit corporation, joint stock company, Governmental Authority or any other entity of whatever nature. 

“Program Changes” is defined in Section 7.17(a). 

“Program Fee Rate” for any Lender Group has the meaning specified in the Fee Letter for such Lender Group. 

“Regulatory Change” is defined in Section 2.9(a). 

“Related Documents” means, collectively, the Indenture, the Indenture Supplement, the Transfer Agreement, the Bank
Receivables Sale Agreement, the Servicing 

  

					
		 	
 8
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
Agreement, the Trust Agreement, the Borrower Administration Agreement, the Custody and Control Agreement, this Agreement, the Class A Agreement Regarding Loans, the Class B Loan Agreement,
the Class B Agreement Regarding Loans, the Fee Letter, the Class A Notes and the Class B Notes. 
 “Replacement
Person” is defined in Section 2.9(d). 
 “Required Class B Note Principal Balance” means, at any time,
an amount equal to the product of the Class B Pro Rata Percentage and the Note Principal Balance at such time. 
 “Required
Lenders” means, at any time, (i) if there is only one Lender Group, the Managing Agent for such Lender Group, acting at the direction of the Bank Sponsored Lenders and of Committed Lenders having a majority of the Advances Outstanding
in such Lender Group and (ii) if there are two or more Lender Groups, two or more Managing Agents for Lender Groups, each acting at the direction of the Bank Sponsored Lenders and the Committed Lenders having a majority of the Advances
Outstanding in its Lender Group, so long as the portions of the Advances Outstanding funded by such Lender Groups aggregate more than 50% of the Advances Outstanding. 

“RIC” means, with respect to any Lender, a receivables investment company administered by the Managing Agent for the related
Lender Group or an Affiliate thereof, which obtains funding through the issuance of Commercial Paper. 
 “Rule 17g-5” means
Rule 17g-5 under the U.S. Securities Exchange Act of 1934 (as amended), as interpreted by the U.S. Securities and Exchange Commission from time to time. 

“Securities Act” means the provisions of the Securities Act of 1933, 15 U.S.C. Sections 77a et seq., and any regulations
promulgated thereunder. 
 “Securities Exchange Act” means the provisions of the Securities Exchange Act of 1934, 15 U.S.C.
Sections 78a et seq., and any regulations promulgated thereunder. 
 “Servicer” means GE Capital in its capacity as
Servicer for the Borrower under the Servicing Agreement or any other Person designated as a Successor Servicer thereunder. 

“Servicing Agreement” means the Servicing Agreement dated as of June 27, 2003, between the Borrower and GE Capital (as
successor to GE Capital Retail Bank), as the Servicer. 
 “Servicing Agreement Amendment” is defined in
Section 7.17(a). 
 “Servicing Liability Release” is defined in Section 7.17(c). 

“Servicing Assignment” is defined in Section 7.17(a). 

“Stock” means all shares, options, warrants, membership interests in a limited liability company, general or limited
partnership interests or other equivalents (regardless of how designated) of or in a corporation, partnership or equivalent entity whether voting or nonvoting, 

  

					
		 	
 9
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
including common stock, preferred stock or any other “equity security” (as such term is defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the Securities and
Exchange Commission under the Securities Exchange Act). 
 “Subservicer” is defined in Section 7.17(c). 

“Subservicing Agreement” is defined in Section 7.17(c). 

“Successor Servicer” is defined in Section 6.2 of the Servicing Agreement. 

“Support Advance” means, with respect to a Liquidity Provider and its related Bank Sponsored Lender, any participation held
by such Liquidity Provider in such Bank Sponsored Lender’s share of the Advances which was purchased from such Bank Sponsored Lender pursuant to a Bank Sponsored Lender Liquidity Arrangement and any loans or other advances made by such
Liquidity Provider to such Bank Sponsored Lender pursuant to a Bank Sponsored Lender Liquidity Arrangement to fund such Bank Sponsored Lender’s making or maintaining its funding of the Advances. 

“Taxes” means taxes, levies, imposts, duties, charges, fees, deductions or withholdings. 

“UCC” means, with respect to any jurisdiction, the Uniform Commercial Code as the same may, from time to time, be enacted and
in effect in such jurisdiction. 
 “Withholding Taxes” is defined in Section 2.8(b). 

Section 1.2. Other Interpretive Matters. All terms defined directly or by incorporation in this Agreement shall have the defined
meanings when used in any certificate or other document delivered pursuant hereto unless otherwise defined therein. For purposes of this Agreement and all related certificates and other documents, unless the context otherwise requires: (a)
accounting terms not otherwise defined in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined, shall have the respective meanings given to them under GAAP; and unless otherwise provided, references to any
month, quarter or year refer to a fiscal month, quarter or year as determined in accordance with the fiscal calendar of the Borrower and its Affiliates; (b) terms defined in Article 9 of the UCC and not otherwise defined in this Agreement are used
as defined in that Article; (c) references to any amount as on deposit or outstanding on any particular date means such amount at the close of business on such day; (d) the words “hereof,” “herein” and “hereunder” and
words of similar import refer to this Agreement (or the certificate or other document in which they are used) as a whole and not to any particular provision of this Agreement (or such certificate or document); (e) references to any Section, Schedule
or Exhibit are references to Sections, Schedules and Exhibits in or to this Agreement (or the certificate or other document in which the reference is made), and references to any paragraph, subsection, clause or other subdivision within any Section
or definition refer to such paragraph, subsection, clause or other subdivision of such Section or definition; (f) the term “including” means “including without limitation”; (g) references to any law or regulation refer to that
law or regulation as amended from time to time and include any successor law or regulation; (h) references to any agreement refer to that agreement as from time to time amended, restated or supplemented or as the terms of such agreement are waived
or modified in accordance with its 

  

					
		 	
 10
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
terms; (i) references to any Person include that Person’s successors and permitted assigns; (j) headings are for purposes of reference only and shall not otherwise affect the
meaning or interpretation of any provision hereof; and (k) words in the singular include the plural and words in the plural include the singular. 

Section 1.3. Appendices. All Appendices hereto, or expressly identified to this Agreement, are incorporated herein by reference
and, taken together with this Agreement, shall constitute but a single agreement. 
 Section 1.4. Intended Characterization. The
parties hereto agree that it is their mutual intent that, for all purposes, the Advances made hereunder will constitute indebtedness of the Borrower. Further, each party hereto hereby covenants to every other party hereto to treat the Advances made
hereunder as indebtedness for all purposes, including in all tax filings, reports and returns and otherwise, and further covenants that neither it nor any of its Affiliates will take, or participate in the taking of or permit to be taken, any action
that is inconsistent with the treatment of the Advances hereunder as indebtedness. All successors and assigns of the parties hereto shall be bound by the provisions hereof. 

ARTICLE II 
 COMMITMENT;
THE ADVANCES 
 Section 2.1. The Advances. 

(a) On the terms and subject to the conditions set forth in this Agreement and the Indenture Supplement, the Borrower may from time to time on
or prior to the last day of the Revolving Period request loans pursuant to this Section 2.1 (each, an “Advance”) to be made by the Lenders in accordance with this Article II, including an initial advance in the
aggregate amount of $[—] to be made on the Closing Date (the “Initial Advance”). Each Advance requested by the Borrower shall be allocated to the Lender Groups pro rata based on
their respective Group Limits. If there are any Committed Bank Sponsored Lenders in a Lender Group, each such Committed Bank Sponsored Lender shall be obligated to fund its Lender Commitment Percentage of the Advance. If there is more than one Bank
Sponsored Lender (excluding Committed Bank Sponsored Lenders) in the same Lender Group, the portion of the Advance allocated to such Lender Group shall be allocated among such Bank Sponsored Lenders (excluding Committed Bank Sponsored Lenders) as
determined by the Managing Agent for the applicable Lender Group. Each Bank Sponsored Lender (other than a Committed Bank Sponsored Lender) may, in its sole and absolute discretion, decline to lend to the Borrower all or any portion of the share of
any Advance allocated to such Bank Sponsored Lender by its Managing Agent. 
 If a Bank Sponsored Lender (other than a Committed Bank
Sponsored Lender) elects not to lend the full amount of the share of the requested Advance allocated to its Lender Group on the terms and subject to the conditions set forth in this Agreement, each of the Committed Lenders (other than a Committed
Bank Sponsored Lender) with respect to the applicable Lender Group shall lend to the Borrower the share of the requested Advance not made by such Bank Sponsored Lender pro rata in accordance with their respective Commitments. 

  

					
		 	
 11
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (b) Notwithstanding the foregoing, under no circumstances shall any Committed Lender be required
to participate in making an Advance if after giving effect thereto (i) the Advances Outstanding would exceed the Loan Agreement Limit then in effect, (ii) the portion of the Advances Outstanding funded by the Lenders in any Lender Group
would exceed the Group Limit for such Lender Group or (iii) the portion of the Advances Outstanding owing to such Committed Lender would exceed such Lender’s Commitment. The obligation of each Committed Lender to fund its Lender Commitment
Percentage of the portion of the Advance allocated to its Lender Group shall be several from that of each other Committed Lender in such Lender Group, and the failure of any Committed Lender to so make such amount available to the Borrower shall not
relieve any other Committed Lender of its obligation hereunder. 
 Section 2.2. Notices Relating to Advances. [Other than with
respect to the Initial Advance,] The Borrower shall give each Managing Agent written notice (a “Borrowing Notice”) no later than 4:00 p.m. (New York City time) on the Business Day immediately preceding the date of such proposed
borrowing. Each Borrowing Notice shall (i) be substantially in the form of Exhibit A and (ii) specify the amount of the requested Additional Advance and the proposed date of such Additional Advance. Borrowing Notices are not required to be
manually signed and may be delivered electronically. 
 Section 2.3. Advance Procedures. Subject to the satisfaction of the
conditions precedent in Section 3.2, not later than [2:00] p.m. (New York City time) on any Business Day on which an Advance has been requested to be made, the applicable Lender or Lenders shall transfer, by wire transfer or otherwise, but in
any event in immediately available funds, their respective portions of the amount of the Advance to, or at the direction of, the Borrower. 

Section 2.4. Reduction of Loan Agreement Limit. The Borrower may, from time to time, on at least 15 Business Days’ prior
written notice to each Managing Agent specifying the effective date of such decrease, reduce the Loan Agreement Limit and the Commitment of any Committed Lender by an amount not to exceed the excess of (a) such Committed Lender’s
Commitment over the greater of (i) the Advances Outstanding funded by such Committed Lender and (ii) the product of (x) the portion of the Advances Outstanding funded by all Lenders in such Committed Lender’s Lender Group
multiplied by (y) such Committed Lender’s Lender Commitment Percentage. Any reduction of the Loan Agreement Limit and the Commitment of any Committed Lender pursuant to this Section 2.4 shall be permanent. 

Section 2.5. Class A Note. 

(a) The portion of the Advances made by the Lenders in each Lender Group hereunder shall be evidenced by one or more Class A Notes of the
Borrower issued pursuant to the Indenture and the Indenture Supplement in the name of the Managing Agent for such Lender Group. 
 (b) Each
Class A Note shall be dated the Closing Date, and together with the other Class A Notes issued in the name of the Managing Agent for a Lender Group, shall be in the maximum aggregate principal amount of the Commitments of the Committed
Lender in such Lender Group and shall otherwise be duly completed as required by the terms of the Indenture and the Indenture Supplement. At any given time, the principal amount of a Class A Note, taken

  

					
		 	
 12
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
together with the other Class A Notes issued in the name of the Managing Agent for a Lender Group, shall equal the unpaid aggregate amount of the Advances Outstanding owing to the Lenders in
the corresponding Lender Group. To the extent that multiple Class A Notes evidence the Advances Outstanding owing to the Lenders in a Lender Group, the Managing Agent for such Lender Group shall allocate payments of principal and interest in
respect of such Advances Outstanding ratably among such Class A Notes based upon their respective principal balances. 
 (c) The
Borrower hereby authorizes each Managing Agent to enter on a schedule attached to the applicable Class A Note a notation (which may be computer generated): (i) the date and principal amount of the portion of each Advance made in connection
therewith and (ii) each repayment of principal thereunder. The failure of any Managing Agent to make a notation on the schedule to a Class A Note as aforesaid shall not limit or otherwise affect the obligations of the Borrower hereunder or
under such Class A Note. 
 Section 2.6. Principal Repayments. 

(a) The Borrower shall repay the Advances Outstanding on each Payment Date to the extent that funds are then available therefor pursuant to the
Indenture Supplement in an amount up to the Class A Monthly Principal for such Payment Date. 
 (b) In accordance with the terms and
conditions of the Indenture and Indenture Supplement, the Advances Outstanding are payable in full on the Series Maturity Date. 
 (c) On
each Optional Amortization Date, the Borrower shall repay the Advances Outstanding in an amount equal to the portion of the Optional Amortization Amount allocable to the Class A Notes in accordance with Section 2.2(b) of the Indenture
Supplement. 
 (d) Each payment of Class A Monthly Principal and Optional Amortization Amount that is allocated to the Class A
Notes shall be allocated to the Lender Groups pro rata based on the respective principal amounts of Advances Outstanding funded by each Lender Group. 

Section 2.7. Calculation of the Funding Rates; Payment of Interest, Fees, Etc. 

(a) On or before the fifth Business Day preceding each Payment Date, each Managing Agent shall calculate the Funding Rates for the Class A
Notes held by it and the portion of the Interest allocable to the Class A Notes held by it for the related Interest Period and shall notify the Borrower, the Transferor and the Servicer of such rates and amount. Each Managing Agent shall
allocate the Interest received in respect of the Class A Notes held by it among such Class A Notes based on the respective amounts of interest accrued thereon. On or before the second Business Day of each calendar week, each Managing Agent
shall provide the Borrower with a report of (i) the weighted average of the per annum rates paid or payable by each Bank Sponsored Lender in such Lender Group from time to time as interest on or otherwise in respect of the Commercial Paper
issued by such Bank Sponsored Lender to fund the making or maintenance of its share of Advances (and which may also be allocated in part to the funding of other assets of such Lender) during the immediately preceding week and (ii) the weighted
average maturities of the outstanding Commercial Paper issued by such Bank Sponsored Lender to fund the making or maintenance of its share of Advances (and which may also be allocated in part to the funding of other assets of such Lender) as of the
last Business Day of the immediately preceding week. 

  

					
		 	
 13
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (b) The Borrower hereby promises, solely to the extent that funds are then or thereafter
available therefor pursuant to Section 4.4(a)(iii) of the Indenture Supplement, to pay Interest computed as described herein and in the Indenture Supplement. Accrued and unpaid Interest in respect of any Interest Period shall be payable
on the corresponding Payment Date. 
 (c) All fees shall be computed on the basis of the actual number of days (including the first day but
excluding the last day) occurring during the period for which such Interest or fee is payable over a year comprised of 360 days. Any computations by any Managing Agent of amounts payable hereunder (including, without limitation, Class A
Additional Amounts) shall be supported by a certificate prepared with due care and in good faith setting forth the basis and the calculation of the requested amount (in reasonable detail). 

(d) Anything in this Agreement to the contrary notwithstanding, if at any time the rate of interest payable by any Person under this Agreement
exceeds the highest rate of interest permissible under any applicable law (the “Maximum Lawful Rate”), then, so long as the Maximum Lawful Rate would be exceeded, the rate of interest under this Agreement shall be equal to the
Maximum Lawful Rate. 
 (e) Each Managing Agent and each Lender hereby agrees with respect to itself that it will use commercially
reasonable efforts to fund the Advance made by its Lender Group through the issuance of Commercial Paper; provided that no Managing Agent or Lender will have any obligation to use commercially reasonable efforts to fund the Advance made by
its Lender Group through the issuance of Commercial Paper at any time that the funding of the Advance through the issuance of Commercial Paper would be prohibited by the program documents governing such Conduit Lender’s Commercial Paper
program. Each of the Managing Agent (as to each Bank Sponsored Lender) and each Committed Lender (as to itself) covenants that the Managing Agent and such Committed Lender will promptly notify the Borrower regarding the necessity to fund any portion
of the Advance other than directly or indirectly through the issuance of Commercial Paper and, in such event, the funding cost applicable to such fundings. 

Section 2.8. Payments; Withholding. 

(a) Making of Payments. All payments of Interest, fees, principal of the Advances and all other amounts due to the Lenders and Managing
Agents hereunder or under the Fee Letter, the Indenture or the Indenture Supplement, shall be paid on the Payment Date when due (or on such other date as specified in the Indenture Supplement), in Dollars in immediately available funds to the
applicable Managing Agents (or, if specified in writing by any Managing Agent, to the Lenders in its Lender Group) based upon an itemized invoice delivered to the Borrower by such Managing Agent on or before the fifth Business Day preceding such
Payment Date. Payments received by any Managing Agent (or Lender) after [3:00] p.m. (New York City time) on any day will be deemed to have been received by such Managing Agent (or Lender) on the next following Business Day. Payments shall be made to
each Managing Agent (or Lender) at its account in the United States specified on Schedule A or in the applicable joinder or amendment documentation or such other account as such Managing Agent shall designate in

  

					
		 	
 14
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
writing to the Borrower. Each Managing Agent shall, upon receipt of such payments, promptly remit such payments (in the same type of funds received by such Managing Agent) to each Lender in its
Lender Group which has an interest in such payments hereunder and pro rata among the Lenders with such interests on the basis of the respective amounts owing to such Lenders of the Obligations to which such payments relate. Such payments shall be
made to each Lender at an account in the United States specified by such Lender in writing to the Managing Agent for its Lender Group. 

(b) Withholding and Form Delivery. Before the first date on which any amount is payable hereunder for the account of a Lender (or any
successor or assignee of a Lender in accordance with Section 5.2 of the Class A Agreement Regarding Loans or otherwise), to a Managing Agent, the Managing Agent for each Lender Group (on behalf of each Lender in such Lender Group) and for itself as
intermediary (or with respect to a Lender that is not part of a Lender Group, the Lender), shall deliver to the Borrower (A) one copy of duly completed and valid documents prescribed by FATCA, and such additional documentation reasonably requested
by the Borrower as may be necessary for the Borrower to comply with its obligations under FATCA, and to determine the amount to deduct and withhold under FATCA, and (B) (I) one copy of duly completed and valid United States Internal Revenue Service
(“IRS”) Form W-8 or W-9, as applicable (or successor applicable form and/or other documentation), from each Lender in such Lender Group (or with respect to a Lender that is not part of a Lender Group, such Lender) timely certifying
that such Lender (or any successor or assignee of such Lender in accordance with Section 5.2 of the Class A Agreement Regarding Loans or otherwise) is entitled to receive payments hereunder without deduction or withholding of any United States
federal income taxes (“Withholding Taxes”), and (II) in respect of the Managing Agent on its own behalf, as applicable, one copy of duly completed and valid IRS Form W-9 or original duly completed and valid IRS Form W-8 certifying
that the Managing Agent is acting as an intermediary in respect of such amount payable, as applicable, (or successor applicable form and/or other documentation). Each Lender shall deliver the documents required pursuant to the previous sentence to
its Managing Agent in order for such Managing Agent to comply with this Section 2.8(b). However, to the extent payments are to be made by Borrower directly to any Lender and not to the applicable Managing Agent, then (A) on or before the
first payment to such Lender is to be made, such Lender shall deliver to Borrower (I) one original of duly completed and valid documents prescribed by FATCA, and such additional documentation reasonably requested by the Borrower or necessary for the
Borrower to comply with its obligations under FATCA and to determine the amount to deduct and withhold under FATCA, and (II) one original duly completed and valid IRS Form W-8 or one copy of duly completed and valid IRS Form W-9, as applicable (or
successor applicable form and/or other documentation), and (B) the foregoing requirements to provide documentation by and to the Managing Agent shall not apply unless payments are also to be made to the Managing Agent. The Managing Agent of each
Lender Group on behalf of the Lenders in such Lender Group (or with respect to a Lender that is not part of a Lender Group, such Lender) shall timely replace or update the forms and documents described in the immediately preceding sentences for each
Lender promptly upon a change in circumstances that would invalidate a form or document or otherwise change a form or document provided or upon a reasonable request by the Borrower. To the extent required by any applicable law, the Borrower may
withhold from any payment to any Lender (or any Managing Agent, on behalf of any Lender) an amount equivalent to any applicable withholding tax or other deduction or withholding imposed under any applicable taxing jurisdiction,

  

					
		 	
 15
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
including any tax imposed as a result of FATCA withholding. The Managing Agent of each Lender Group agrees to hold the Borrower and its Affiliates harmless from any Withholding Taxes (including
any interest and penalties) relating to payments by the Borrower to the Lenders of such Lender Group. 
 Section 2.9. Increased
Costs, Etc. 
 (a) If the adoption of any applicable law, rule or regulation, or any change therein, or any clarification to or change in
the interpretation, administration or implementation of any applicable law, rule or regulation by any central bank or other Governmental Authority, including, without limitation, with respect to all Taxes other than Taxes based on net income,
capital, or under FATCA (a “Regulatory Change”), in each case occurring after the date of this Agreement, (i) imposes or modifies any reserve, assessment, insurance charge, special deposit or similar requirement against assets
of, deposits with or for the account of, or any purchase by, any of the Affected Parties, (ii) has the effect of reducing an Affected Party’s rate of return in respect of the Notes on such Affected Party’s capital to a level below
that which such Affected Party would have achieved but for such adoption, clarification or change or (iii) affects or would affect the amount of the capital required to be maintained by such Affected Party based upon the Commitment of any
Committed Lender hereunder, the participation of any Bank Sponsored Lender in the facility contemplated hereby or the funding of any Advance, and the result of any of the foregoing is to impose a cost (other than taxes) on, or increase the cost
(other than taxes) to, such Affected Party relating to the Commitment of any Committed Lender hereunder, the facility contemplated hereby or the funding of any Advance, then, upon written demand by such Affected Party in accordance with
Section 2.9(e), the Borrower shall pay on the next succeeding Payment Date to the Managing Agent for the account of such Affected Party, solely to the extent that funds are then or thereafter available therefor pursuant to
Section 4.4(a)(v), Section 4.4(a)(xii) and Section 4.4(a)(xv) of the Indenture Supplement, such additional amounts as will ensure that the net amount actually received by such Affected Party will compensate such Affected Party
for such new or increased cost; provided that each Lender shall use commercially reasonable efforts to minimize any increased costs payable pursuant to this Section 2.9(a); it being understood that any such amounts not paid on any Payment Date
as a result of the operation of Section 4.4(a)(v), Section 4.4(a)(xii) or Section 4.4(a)(xv) of the Indenture Supplement shall be due and payable on the next succeeding Payment Date in the same manner and subject to the same
limitations. Notwithstanding the foregoing, no such amount shall be paid with respect to any period commencing more than thirty (30) days prior to the date such Affected Party first notifies the Borrower of its intention to demand compensation
therefor under this Section 2.9(a) (the “Lookback Period”) unless (x) the Affected Party gives such notice to the Borrower not later than thirty (30) days after the Affected Party first has actual knowledge
that such increased cost or reduction will occur; provided that if the change giving rise to such increased costs or reductions is retroactive, then such thirty-day period shall be extended to include the period of retroactive effect thereof or
(y) the payment for such period was demanded by the Affected Party during the Lookback Period, but remained accrued and unpaid due to the unavailability of funds pursuant to the terms hereof. 

(b) Anything in Section 2.9(a) to the contrary notwithstanding, if a Bank Sponsored Lender or other Affected Party enters into
agreements for the acquisition of interests in receivables, notes or other financial asset from one or more Other Borrowers (or to provide 

  

					
		 	
 16
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
liquidity or credit support therefor), such Bank Sponsored Lender and other Affected Parties shall ratably allocate the liability for any amounts under Section 2.9(a), which are
generally imposed on or applicable to such Bank Sponsored Lender or other Affected Party, to the Borrower and each Other Borrower; provided, however, that if such amounts are solely attributable to the Borrower and not attributable to
any Other Borrower, the Borrower shall be solely liable for such amounts or if such amounts are attributable to Other Borrowers and not attributable to the Borrower, such Other Borrowers shall be solely liable for such amounts. 

(c) Any Affected Party claiming any additional amounts payable pursuant to Section 2.9(a) agrees to use commercially reasonable
efforts to designate a different office or branch of such Affected Party as its lending office if the making of such a designation would avoid the need for, or reduce the amount of, any such additional amounts to be paid by the Borrower. 

(d) Upon the receipt by the Borrower of a claim for reimbursement or compensation under Section 2.9(a) by a Lender, if payment
thereof shall not be waived by such Lender, the Borrower may, at any time, request one or more of the other Lenders, if any, in such Lender’s Lender Group, with the consent of the Managing Agent for such Lender Group (which consents shall not
be unreasonably withheld), to acquire and assume all or a part of such Lender’s rights and obligations (if any) hereunder (a “Replacement Person”) and if no such other Lender in such Lender’s Lender Group shall become the
Replacement Person, the Borrower may request such claiming Lender (or, in the case of a Bank Sponsored Lender, the Managing Agent for its Lender Group) to use its best efforts to assist the Borrower in its attempt to obtain a replacement bank,
financial institution or commercial paper conduit, as applicable, satisfactory to the Borrower and consented to by the Managing Agent for the applicable Lender Group (which consents shall not be unreasonably withheld), to become the Replacement
Person. In addition, upon the receipt by the Borrower of a claim for reimbursement or compensation under Section 2.9(a) by an Affected Party other than a Lender or Managing Agent, if payment thereof shall not be waived by such Affected
Party, the Borrower may, at any time, request the Managing Agent for its Lender Group to obtain a replacement bank or financial institution for such Affected Party, and if such Affected Party has not been replaced within a reasonable period, such
Affected Party shall be subject to replacement upon request of the Borrower as provided in the preceding sentence. Upon notice from the Borrower, a Lender being replaced hereunder shall assign, without recourse, its rights and obligations (if any)
hereunder, or a ratable share thereof, to the Replacement Person or Replacement Persons designated and consented to as provided in Section 2.9(d) for a purchase price equal to the sum of the principal amount of the Advances or interests
therein so assigned, all accrued and unpaid Interest thereon and any other amounts (including fees and any amounts owing under this Section 2.9) to which such Lender is entitled hereunder. Notwithstanding the foregoing, (i) no
Lender which is a Managing Agent may be replaced pursuant to this Section 2.9(d) unless (A) it has consented to such replacement or (B) a successor for such Managing Agent has been duly appointed in accordance with
Section 4.8 of the Class A Agreement Regarding Loans and such Managing Agent shall have received payment of all amounts to which it is entitled hereunder; and (ii) the Borrower need not make any request under this clause
(d) if the replacement of any claiming Lender or Affected Party would be more economically or administratively burdensome on the Borrower than not replacing such Lender or Affected Party or if such replacement would be unlawful. 

  

					
		 	
 17
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (e) As soon as practical, and in any event within 30 days after learning of any event occurring
after the Closing Date which could reasonably be expected to entitle an Affected Party to compensation pursuant to Sections 2.9(a) or 6.1, the applicable Managing Agent shall notify the Borrower in writing. The applicable Managing
Agent or Affected Party claiming compensation under this Section 2.9 shall deliver to the Borrower, no later than the 30th day preceding the Payment Date on which compensation is
requested, a notice of the amount of compensation being claimed, accompanied by a statement prepared by such Managing Agent or Affected Party, as applicable, with due care and in good faith setting forth the basis and the calculation of the amount
(in reasonable detail). 
 (f) Funding Losses. The Borrower hereby agrees that upon written demand by any Affected Party, it will
indemnify such Affected Party against any net loss or expense which such Affected Party may sustain or incur, as reasonably determined by such Affected Party, as a result of any failure of the Borrower to accept an Advance on the date specified
therefor in the Borrowing Notice or as a result of any payment of the Advances (or any portion thereof) on a date other than: (i) the day on which the related funding source, to the extent subject to a contractual maturity date, matures,
(ii) a Payment Date or (iii) any Optional Amortization Date. Such written demand shall be accompanied by a statement prepared by such Affected Party with due care and in good faith setting forth the basis and the calculation of the amount
(in reasonable detail) of each request, and shall be binding upon the Borrower absent demonstrable error. For the avoidance of doubt, the Borrower hereby agrees to pay any amounts claimed by an Affected Party under this Section 2.9(f) on
the next Payment Date after such demand, solely to the extent that funds are then available therefor pursuant to Sections 4.4(a)(v), 4.4(a)(xii) and 4.4(a)(xv) of the Indenture Supplement; it being understood that any such amounts not paid on any
Payment Date shall be due and payable on each succeeding Payment Date, in each case, solely to the extent that funds are then available therefor pursuant to Sections 4.4(a)(v), 4.4(a)(xii) and 4.4(a)(xv) of the Indenture Supplement. Each Affected
Party will use reasonable efforts to minimize the costs incurred by the Borrower under this Section 2.9(f). 
 ARTICLE III

 CONDITIONS PRECEDENT 

Section 3.1. Conditions to Initial Advance. The Lenders shall not be obligated to make the Initial Advance, until the following
conditions have been satisfied, or waived in writing by, each Managing Agent: 
 (a) Agreements. This Agreement or counterparts
hereof, the Class A Agreement Regarding Loans, the Fee Letter and the Indenture Supplement shall have been duly executed by, and delivered to, the parties hereto and each of the Related Documents shall have been delivered to each Managing Agent
and shall be in full force and effect. 
 (b) Payment of Fees and Expenses. The Borrower shall have paid to the Lenders and each
Managing Agent, or as they have directed, all fees due and payable on or before the Closing Date pursuant to any applicable Fee Letter. 

  

					
		 	
 18
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (c) Issuance of Notes. The Class A Notes shall have been duly issued to the
respective Managing Agents pursuant to the terms of the Indenture, the Indenture Supplement and this Agreement, and the Class B Notes shall have been duly issued pursuant to the terms of the Indenture, the Indenture Supplement and the Class B Loan
Agreement. 
 (d) Filings. Each Managing Agent shall have received evidence reasonably satisfactory to it of the filing of proper
UCC-1 financing statements and UCC termination statements and releases as may be necessary or, in the opinion of any Managing Agent, desirable under the UCC of all appropriate jurisdictions or any comparable law to perfect the transfers contemplated
by the Related Documents and the security interest of the Indenture Trustee on behalf of the Noteholders in the Collateral and to terminate or release all conflicting liens. 

(e) Opinions of Counsel to GE Capital Retail Bank, the Transferor and the Borrower. Counsel to GE Capital Retail Bank, the Transferor
and the Borrower shall have delivered to the Managing Agents favorable opinions, dated as of the Closing Date and reasonably satisfactory in form and substance to the Managing Agents and their respective counsel. 

(f) Opinions of Counsel to the Trustee and the Indenture Trustee. Counsel to each of the Trustee and the Indenture Trustee shall have
delivered to the Managing Agents a favorable opinion, dated as of the Closing Date and reasonably satisfactory in form and substance to the Managing Agents and their respective counsel. 

(g) No Actions or Proceedings. No action, suit, proceeding or investigation by or before any Governmental Authority shall have been
instituted to restrain or prohibit the consummation of, or to invalidate, the transactions contemplated by the Related Documents and the documents related thereto. 

(h) Approvals and Consents. All governmental actions of all Governmental Authorities required with respect to the transactions
contemplated by the Related Documents and the other documents related thereto shall have been obtained or made. 
 (i) Accounts. The
Managing Agents shall have received evidence that the Collection Account, the Excess Funding Account and the Series Accounts have been established in accordance with the terms of the Indenture and the Indenture Supplement. 

Section 3.2. Additional Conditions Precedent to each Advance. The Lenders shall not be required to make any Advance hereunder if,
as of such date of such borrowing: 
 (a) any representation or warranty of the Borrower contained herein shall be untrue or incorrect in
any material respect as of such date, either before or after giving effect to the making of the Advance on such date and to the application of the proceeds therefrom, except to the extent that such representation or warranty expressly relates to an
earlier date and except for changes therein expressly permitted by this Agreement; 
 (b) an Early Amortization Event, a Servicer Default or
an Event of Default shall have occurred, or would result from the making of such Advance; or 

  

					
		 	
 19
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (c) after giving effect to the making of the Advance, (i) the amount on deposit in the
Spread Account does not at least equal the Required Spread Account Amount, (ii) the Class B Note Principal Balance does not at least equal the Required Class B Note Principal Balance, (iii) the Excess Collateral Amount does not at least
equal the Required Excess Collateral Amount, (iv) the Free Equity Amount does not at least equal the Minimum Free Equity Amount, or (v) the Trust Principal Balance does not at least equal the Required Principal Balance. 

The acceptance by the Borrower of the proceeds of the Advance shall be deemed to constitute, as of the date of the related Advance, a
representation and warranty by the Borrower that none of the events or conditions described in Section 3.2(a), (b) or (c) has occurred or exists. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

Section 4.1. Representations and Warranties of the Borrower. To induce the Lenders to make the Advances hereunder, the Borrower
makes the following representations and warranties to the Lenders and the Managing Agents as of the Closing Date, each and all of which shall survive the execution and delivery of this Agreement and the making of the Initial Advance: 

(a) Valid Existence; Compliance with Law. The Borrower (i) is a statutory trust duly organized, validly existing and in good
standing under the laws of its jurisdiction of organization; (ii) has the requisite power and authority as a statutory trust and the legal right to own, pledge, mortgage or otherwise encumber and operate its properties and to conduct the
business in which is it now engaged; (iii) has all licenses, permits, consents or approvals from or by, and has made all filings with, and has given all notices to, all Governmental Authorities having jurisdiction, to the extent required for
such ownership, operation and conduct, except where the failure to take such action, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect; (iv) is in compliance with the Borrower Trust Agreement;
and (v) subject to specific representations set forth herein regarding ERISA, tax and other laws, is in compliance with all applicable provisions of Law, except where the failure to comply, individually or in the aggregate, would not have a
Material Adverse Effect. 
 (b) Power, Authorization, Etc. The execution, delivery and performance by the Borrower of this Agreement:
(i) are within the Borrower’s power as a statutory trust; (ii) have been duly authorized by all necessary or proper trust action; (iii) do not contravene any provision of the Borrower Trust Agreement; (iv) do not violate any
Law or any order or decree of any court or Governmental Authority in such a way that would have a Material Adverse Effect; (v) do not conflict with or result in the breach or termination of, constitute a default under or accelerate or permit
the acceleration of any performance required by, any material indenture, mortgage, deed of trust, lease, agreement or other instrument to which the Borrower is a party or by which the Borrower or any of the property of the Borrower is bound;
(vi) do not result in the creation or imposition of any Adverse Claim upon any of the property of the Borrower; and (vii) do not require the Borrower to have obtained the consent or approval of any Governmental Authority or any other
Person, except those that if not obtained would not be reasonably likely to cause a Material Adverse Effect. 

  

					
		 	
 20
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (c) Enforceability. This Agreement is the valid and legally binding obligation of the
Borrower, enforceable against the Borrower in accordance with its terms, subject as to enforcement to bankruptcy, receivership, conservatorship, insolvency, reorganization, moratorium and other similar laws of general applicability relating to or
affecting creditors’ rights and to general principles of equity. 
 (d) Class A Notes. The Class A Notes have been
duly and validly authorized, and, when executed and authenticated by the Indenture Trustee in accordance with the terms of the Indenture and the Indenture Supplement, and delivered to and paid for by the respective Managing Agents in accordance with
this Agreement, will be duly and validly issued and outstanding, and will be entitled to the benefits of the Indenture and the Indenture Supplement. 

(e) No Litigation. No Litigation is pending against the Borrower that (i) challenges the Borrower’s right or power to enter
into or perform any of its obligations under this Agreement, or the validity or enforceability of this Agreement or any action taken hereunder, (ii) seeks to prevent the consummation of any of the transactions contemplated under this Agreement,
or (iii) has a reasonable likelihood of being determined adversely to the Borrower and that, if so determined, would have a Material Adverse Effect. 

(f) Bankruptcy. The Borrower is not subject to any Insolvency Event. 

(g) Use of Proceeds. No proceeds of the Advances received by the Borrower under this Agreement will be used for a purpose that violates
or would be inconsistent with Regulations U or X promulgated by the Board of Governors of the Federal Reserve System from time to time. 

(h) Investment Company Act. The Borrower is not an “investment company” or “controlled by” an “investment
company,” as such terms are defined in the Investment Company Act and the Borrower is not relying exclusively on the exception from the definition of “investment company” afforded by either Section 3(c)(1) or Section 3(c)(7)
of the Investment Company Act. 
 (i) Full Disclosure. All written information furnished by the Borrower or any of its agents,
representatives or Affiliates to any Lender, any Liquidity Provider or any Managing Agent, including, without limitation, information relating to the Accounts and Receivables and GE Capital Retail Bank’s credit business, that was material to
the decision by such Lender, Liquidity Provider or Managing Agent to fund the Advances is true and accurate in all material respects, as of the date such information was furnished or as of the date most recently updated, as applicable (except to the
extent that such furnished information relates solely to an earlier date, in which case such information is true and accurate in all material respects on and as of such earlier date) 

(j) Securities Act. Assuming the accuracy of the representations and warranties of the Lenders and the Managing Agents set forth in
Sections 4.2(b), (c) and (d) of this Agreement, the issuance of the Class A Notes pursuant to the terms of this Agreement, the Indenture and the Indenture Supplement will not require registration of the
Class A Notes under the Securities Act. 

  

					
		 	
 21
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (k) No Event of Default. No Early Amortization Event, Servicer Default or Event of Default
has occurred. 
 Section 4.2. Representations and Warranties of the Lenders and the Managing Agents. 

(a) To induce the Borrower to enter into this Agreement, each Lender and each Managing Agent severally makes the following representations and
warranties to the Borrower as of the date hereof and as of the date of each Advance, each and all of which shall survive the execution and delivery of this Agreement: 

(i) it is duly incorporated or organized, validly existing and is duly qualified to do business and is in good standing in the
jurisdiction of its incorporation or organization, as applicable; 
 (ii) the execution, delivery and performance by it of
this Agreement are within its corporate, limited liability company or other relevant entity powers and have been duly authorized by all necessary corporate, limited liability company or other relevant entity action; 

(iii) this Agreement has been duly executed and delivered by it; and 

(iv) this Agreement constitutes its legal, valid and binding obligation enforceable against it in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency, receivership, reorganization, moratorium or similar laws relating to or affecting the enforcement of creditors’ rights generally or by general principles of equity,
whether applied in a proceeding at law or in equity. 
 (b) Each Lender and each Managing Agent hereby acknowledges that the Class A
Notes have not and will not be registered under the Securities Act and will not be registered or qualified under any applicable “blue sky” law, that it is acquiring its interest in the Class A Notes pursuant to a private placement
exempt from registration under the Securities Act and that the Class A Notes will contain the restrictive legends and be subject to the transfer restrictions specified in the Indenture and the Indenture Supplement. 

(c) Each Lender and each Managing Agent hereby represents and warrants to, and agrees with, the Borrower that it will only transfer its
interest in the Class A Notes in accordance with the terms of the Indenture and the Indenture Supplement. 
 (d) Each Lender and each
Managing Agent, solely as to itself, hereby represents and warrants to the Borrower (i) that it is a “qualified institutional buyer” as defined in Rule 144A under the Securities Act, (ii) that it is not a Benefit Plan Investor
nor is it funding any portion of the Advances from any account holding plan assets of any Benefit Plan Investor unless such portion of the Advances will not constitute a non-exempt prohibited transaction under ERISA or non-exempt violation of any
applicable law that is substantially similar to the fiduciary responsibility provisions of ERISA or Section 4975 of the Code, and (iii) that it is not required to register as an “investment company” and is not controlled by an
“investment company” within the meaning of the Investment Company Act of 1940, as amended. 

  

					
		 	
 22
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (e) Each Lender and each Managing Agent hereby acknowledges that the Borrower and its Affiliates
will rely upon the truth and accuracy of the representations, warranties and agreements of such Lender or Managing Agent, as applicable, contained in this Section 4.2. 

Section 4.3. Certification of the Managing Agent. Each Managing Agent hereby certifies that it is either the administrator or
sponsor of each Bank Sponsored Lender, if any, in its related Lender Group. 
 ARTICLE V 

GENERAL COVENANTS OF THE BORROWER 

Section 5.1. Covenants of the Borrower. The Borrower covenants and agrees that, unless otherwise consented to by the Required
Lenders, from and after the Closing Date and until the Final Liquidation Date: 
 (a) Compliance with Agreements and Applicable Laws.
The Borrower shall perform each of its obligations under this Agreement and the Borrower shall comply with all federal, state and local laws and regulations applicable to it, except to the extent that the failure to so comply, individually or in the
aggregate, would not reasonably be expected to have a Material Adverse Effect. 
 (b) Maintenance of Existence and Conduct of
Business. The Borrower shall: (i) do or cause to be done all things necessary to preserve and keep in full force and effect its existence as a statutory trust and its rights and franchises; and (ii) conduct its business as permitted
hereunder and in accordance with the terms of the Borrower Trust Agreement and Section 4.1(a). 
 (c) Amendments to Related
Documents. The Borrower (i) shall not terminate, amend, waive, supplement or otherwise modify any of the Related Documents to which it is a party, and (ii) to the extent that the Borrower has the right to consent to any termination,
waiver, amendment, supplement or other modification of any Related Document to which it is not a party, the Borrower shall not give such consent, if, in the case of each of the foregoing clauses (i) and (ii), such termination, amendment,
waiver, supplement or other modification would give rise to an Adverse Effect. Without the prior written consent of each Managing Agent, the Borrower shall not terminate, amend, waive, supplement or otherwise modify the Indenture or the Indenture
Supplement so as to (x) reduce the Class B Pro Rata Percentage, the Required Excess Collateral Amount or the Minimum Free Equity Percentage, (y) delay the Controlled Amortization Date or (z) change the definition of “Eligible
Receivable” or “Eligible Account” as such terms are defined in the Transfer Agreement. The Borrower shall deliver to each Managing Agent, reasonably promptly following the execution and delivery thereof, a copy of each amendment,
waiver, supplement or other modification to any of the Related Documents, other than any such amendment, waiver, supplement or other modification relating solely to a Series other than Series
2014-VFN[—] or to an “Indenture Supplement” (as defined in the Indenture) other than the Indenture Supplement relating to Series
2014-VFN[—]. 

  

					
		 	
 23
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (d) Inspection. From the Closing Date until the Final Liquidation Date, the Borrower,
will, at any time and from time to time during regular business hours, but not more than once in any calendar year except after the occurrence and during the continuance of an Early Amortization Event, or an Event of Default, on at least ten
Business Days’ written notice, to the Borrower, permit each Managing Agent and their designated agents or representatives, all acting on a coordinated basis, at the ratable cost and expense of the Managing Agents (or during the continuance of
an Early Amortization Event, or an Event of Default, at the cost and expense of the Borrower, which shall be limited to the reasonable out-of-pocket (and invoiced) costs and expenses incurred by the Managing Agents in connection therewith),
(i) to examine all books, records and documents (including computer tapes and disks) in the possession or under the control of or reasonably accessible to the Borrower, relating to the Receivables, (ii) to visit the offices and properties
of the Borrower for the purpose of examining such materials, and (iii) to consult with employees, agents and representatives of the Borrower in connection with the foregoing. In addition, the Borrower will exert reasonable efforts to cause the
Servicer and GE Capital Retail Bank to permit examination of their respective books and records, visits to their respective offices and consultations with their respective employees, all on a basis consistent with the description above of such
inspection rights with respect to the Borrower. 
 (e) Certain Rating Agency Matters. If there shall be outstanding a Class of Notes
that is rated “AAA” or the equivalent by one or more of Fitch, Moody’s and S&P (a “‘AAA’-Rated Class”) and, as a condition to any proposed action by the Borrower or the Transferor, the “Rating Agency
Condition” pursuant to (and as defined in) any Related Document must be satisfied with respect to such proposed action, then the Borrower will not take such action or will object to the taking of such action by the Transferor, as applicable,
unless (i) the “Rating Agency Condition” (pursuant to and as defined in each applicable Related Document) is satisfied and (ii) the benefit of any modification to the ‘AAA’-Rated Class required by an applicable rating
agency as a condition to satisfaction of any such “Rating Agency Condition” is also extended to the Class A Notes. In addition, if no ‘AAA’-Rated Class is outstanding, the Borrower will not take any action or will object to
the taking of any action by the Transferor that is subject to satisfaction of the “Rating Agency Condition” pursuant to (and as defined in) any Related Document unless each Managing Agent has consented to such action. The Borrower will not
object to the taking of any action by the Transferor that requires satisfaction of the Rating Agency Condition unless required to object to such action pursuant to this Section 5.1(e). In connection with any consent required pursuant to
Section 4.2(e) of the Indenture Supplement, each Managing Agent is hereby authorized to provide, and hereby agrees that it shall provide, such consent to the extent that (i) such consent is requested at any time that there is an
outstanding ‘AAA’-Rated Class, (ii) the “Rating Agency Condition” (pursuant to and as defined in each applicable Related Document) is satisfied and (iii) the benefit of any modification to the ‘AAA’-rated
Class of Notes required by an applicable rating agency as a condition to satisfaction of any such “Rating Agency Condition” is also extended to the Class A Notes. 

Section 5.2. Reporting Requirements of the Borrower. The Borrower shall promptly deliver or cause to be delivered to each Managing
Agent (i) each report required to be delivered pursuant to Section 5.2(a) or 5.2(b) of the Indenture Supplement, (ii) copies of all annual Servicer certificates delivered pursuant to Section 2.8 of the Servicing Agreement, and
(iii) copies of all reports of independent public accountants furnished pursuant to Section 2.9 of the Servicing Agreement. The Borrower shall provide the Managing Agent notice of any Series 2014-[    ] Early
Amortization Event, Trust Early Amortization Event or Event of Default. 

  

					
		 	
 24
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 ARTICLE VI 

INDEMNIFICATION 

Section 6.1. Indemnities by the Borrower. 

(a) Without limiting any other rights that any Managing Agent, Lender or Liquidity Provider or any director, manager, officer, employee or
agent, organizer or incorporator of any Managing Agent, Lender or Liquidity Provider (each a “Lender Indemnified Person”) may have hereunder or under applicable law, the Borrower hereby agrees to indemnify each Lender Indemnified
Person from and against any and all Indemnified Amounts, which may be awarded against or incurred by any Lender Indemnified Person to the extent arising out of or relating to (i) any breach of the Borrower’s obligations under this
Agreement, (ii) the financing of, or maintenance of the financing with respect to, the Class A Notes, or (iii) this Agreement and the transactions contemplated hereby, excluding, however, (A) Indemnified Amounts to
the extent resulting from bad faith, gross negligence or willful misconduct on the part of such Lender Indemnified Person or the breach by any Lender Indemnified Person of any representation, covenant or other obligation in this Agreement or any
other Related Document, (B) Indemnified Amounts to the extent such Indemnified Amounts relates to Taxes or other amounts payable by the Borrower under Sections 2.8 or 2.9, (C) recourse for the payment of principal of or
interest on, or other amounts due in respect of, the Class A Notes as a result of nonpayment by Obligors on the Receivables. Without limiting or being limited by the foregoing, but subject to the exclusions in the preceding sentence, the
Borrower shall pay to each affected Lender Indemnified Person any and all amounts necessary to indemnify such Lender Indemnified Person from and against any and all Indemnified Amounts relating to or resulting from: 

(A) reliance on any representation or warranty made or deemed made by the Borrower under or in connection with this Agreement,
or any report or other information delivered by the Borrower pursuant hereto which shall have been incorrect in any material respect when made or deemed made or delivered; or 

(B) the failure by the Borrower to comply in any material respect with any term, provision or covenant contained in this
Agreement or any agreement executed by it in connection with this Agreement or with any applicable Law. 
 Amounts owing pursuant to this
Section 6.1 shall be due and payable on the next succeeding Payment Date following written demand therefor by the applicable Lender Indemnified Person to the Borrower (with a copy to the Managing Agent of such Lender Indemnified
Person’s corresponding Lender Group). On such Payment Date, the Borrower shall pay to the applicable Managing Agent, solely to the extent that funds are then or thereafter available therefor pursuant to Section 4.4(a)(v),
Section 4.4(a)(xii) or Section 4.4(a)(xv) of the Indenture Supplement, for the benefit of such Lender Indemnified Person, such amount or amounts owing pursuant to this Section 6.1, it being understood that any such amounts not
paid on any Payment Date as a result of the operation of Section 4.4(a)(v), Section 4.4(a)(xii) or Section 4.4(a)(xv) of the Indenture Supplement shall be due and payable on the next succeeding Payment Date. 

  

					
		 	
 25
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (b) In the event any proceeding (including any governmental investigation) shall be instituted
involving any Lender Indemnified Person in respect of which indemnification is sought pursuant to this Section 6.1, such Lender Indemnified Person or the applicable Managing Agent shall promptly notify the Borrower in writing and the
Borrower shall have the option to assume the defense thereof. In any such proceeding, the applicable Lender Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such
Lender Indemnified Person unless (i) the Borrower has failed to assume the defense thereof, (ii) the Borrower and such Lender Indemnified Person shall have mutually agreed to the retention of such counsel or (iii) the named parties to
any such proceeding (including any impleaded parties) include both the Borrower and such Lender Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between
them. It is understood that the Borrower shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for the
applicable Lender Indemnified Person. The Borrower shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Borrower agrees
to indemnify the applicable Lender Indemnified Person from and against any loss or liability by reason of such settlement or judgment. The Borrower shall not, without the prior written consent of the applicable Lender Indemnified Person, effect any
settlement of any pending or threatened proceeding in respect of which such Lender Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Lender Indemnified Person, unless such settlement includes an
unconditional release of such Lender Indemnified Person from all liability on claims that are the subject matter of such proceeding. 

Section 6.2. Limitation of Damages; Indemnified Persons. NO PARTY TO THIS AGREEMENT SHALL BE RESPONSIBLE OR LIABLE TO ANY OTHER
PARTY TO THIS AGREEMENT, OR ANY OTHER RELATED DOCUMENT, ANY SUCCESSOR, ASSIGNEE OR THIRD PARTY BENEFICIARY OF SUCH PERSON OR ANY OTHER PERSON ASSERTING CLAIMS DERIVATIVELY THROUGH SUCH PARTY, FOR INDIRECT, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL
DAMAGES THAT MAY BE ALLEGED AS A RESULT OF ANY TRANSACTION CONTEMPLATED HEREUNDER OR THEREUNDER. 
 ARTICLE VII 

MISCELLANEOUS 
 Section
7.1. Notices. Except as otherwise provided herein, whenever it is provided herein that any notice, demand, request, consent, approval, declaration or other communication shall or may be given to or served upon any of the parties by any other
parties, or whenever any of the parties desires to give or serve upon any other parties any communication with respect to this Agreement, each such notice, demand, request, consent, approval, declaration or other communication shall be in writing
and shall be deemed to have been validly served, given or delivered (a) upon the earlier of actual receipt and three Business Days after deposit in the United States Mail, registered or certified mail, return receipt requested, with proper postage
prepaid, (b) upon transmission, when sent by facsimile, email, or other electronic transmission 

  

					
		 	
 26
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
(with such transmission promptly confirmed by delivery of a copy by personal delivery or United States Mail as otherwise provided in this Section 7.1), or upon receipt, when sent by
e-mail to the e-mail address provided by the recipient, (c) one Business Day after deposit with a reputable overnight courier with all charges prepaid or (d) when delivered, if hand-delivered by messenger, all of which shall be addressed
to the party to be notified and sent to the address, facsimile number or e-mail address indicated below or in Schedule A hereto, or to such other address, facsimile number or e-mail address as may be substituted by notice given as herein
provided. The giving of any notice required hereunder may be waived in writing by the party entitled to receive such notice. Failure or delay in delivering copies of any notice, demand, request, consent, approval, declaration or other communication
to any Person (other than a Managing Agent or Lender) designated in any written notice provided hereunder to receive copies shall in no way adversely affect the effectiveness of such notice, demand, request, consent, approval, declaration or other
communication. Notwithstanding the foregoing, whenever it is provided herein that a notice is to be given to any other party hereto by a specific time, such notice shall only be effective if actually received by such party prior to such time, and if
such notice is received after such time or on a day other than a Business Day, such notice shall only be effective on the immediately succeeding Business Day. 

If to the Borrower: 
 GE Capital
Credit Card Master Note Trust 
 c/o The Bank of New York Mellon 

101 Barclay Street 
 Floor 7 West
(ABS Unit) 
 New York, New York 10286 

Attention: Antonio Vayas 

Facsimile: (212) 815-2493 

with a copy to the Administrator: 

General Electric Capital Corporation, as Administrator 

777 Long Ridge Road, Building B, 3rd Floor 

Stamford, Connecticut 06927 

Attention: Securitization Manager 

Facsimile: (718) 247-5839 

Section 7.2. Binding Effect; Assignability. 

(a) This Agreement shall be binding upon and inure to the benefit of the Borrower, each Managing Agent, each Lender and their respective
successors and permitted assigns. The Borrower may not assign, transfer, hypothecate or otherwise convey any of its respective rights or obligations hereunder or interests herein. Any such purported assignment, transfer, hypothecation or other
conveyance by the Borrower without the prior express written consent of each Managing Agent shall be void. Except as provided in Section 4.2 of the Class A Agreement Regarding Loans, no Lender may assign, participate, grant security interests in, or
otherwise transfer any portion of the Class A Notes without the prior written consent of the Borrower. Each Lender that sells a participation shall, acting solely for this purpose as an agent 

  

					
		 	
 27
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
of the Borrower, maintain a register on which it enters the name and address of each participant and the principal amounts (and stated interest) of each participant’s interest in the
Advances; provided that no Lender shall have any obligation to disclose all or any portion of such register (including the identity of any participant or any information relating to a participant’s interest in any commitments, loans or letters
of credit) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan or letter of credit is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries
in such register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in such register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the
contrary. The Lenders and the Managing Agent hereby agree not to amend, waive, terminate or otherwise modify the Class A Agreement Regarding Loans without the prior written consent of the Borrower. Notwithstanding anything to the contrary
herein or in the Class A Agreement Regarding Loans, each Bank Sponsored Lender agrees that it will not permit the syndication of any Bank Sponsored Lender Liquidity Arrangement to any Person that is not a Committed Lender in such Bank Sponsored
Lender’s Lender Group on the date hereof without the prior written consent of the Borrower, which consent shall not be unreasonably withheld. The Borrower hereby consents to any assignment, sale, participation or other transfer of any
Class A Note or any interest therein without delivery of an Investment Letter (as defined in the Class A Agreement Regarding Loans) to the extent contemplated in Section 4.2 of the Class A Agreement Regarding Loans. 

(b) In the event any Managing Agent or Lender assigns all of their right, title and interest hereunder and under all other Related Documents,
including its portion of Advances Outstanding and interest thereon; all references in the Related Documents to “Managing Agent,” “Lender,” “Bank Sponsored Lender,” “Committed Lender” and “Affected
Party” in any capacity shall mean and refer to the applicable assignee(s). 
 Section 7.3. Termination; Survival. This
Agreement shall create and constitute the continuing obligations of the parties hereto in accordance with its terms, and shall remain in full force and effect until the Final Liquidation Date; provided, that the rights and remedies provided
for herein with respect to any breach of any representation or warranty made by the Borrower pursuant to Article IV, the indemnification and payment provisions of Section 2.9 and Article VI and Sections 7.4,
7.5, 7.6, 7.7, 7.10 and this Section 7.3 shall be continuing and shall survive the Final Liquidation Date. 

Section 7.4. Costs, Expenses and Taxes. 

(a) The Borrower is liable for all of its own out-of-pocket fees, costs and expenses incurred in connection with the negotiation, preparation
and the carrying out of its obligations under this Agreement and the other Related Documents. Except as otherwise agreed in any Fee Letter, the Borrower shall have no obligation to pay any fees, costs or expenses incurred by any Managing Agent or
any Lender in connection with the negotiation and preparation of this Agreement and the other Related Documents and the funding of the Advances hereunder. 

(b) The Borrower shall reimburse each Managing Agent for all reasonable and necessary out-of-pocket fees, costs and expenses incurred by it in
connection with any attempt to enforce any remedies of any Managing Agent or Lender against the Borrower or any other 

  

					
		 	
 28
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
Person that may be obligated to them by virtue of any of the Related Documents, including any such attempt to enforce any such remedies in the course of any work-out or restructuring of the
transactions contemplated hereby during the pendency of one or more Events of Default or Early Amortization Events. 
 (c) In addition, the
Borrower shall pay on demand any and all stamp, sales, excise and other taxes (excluding income taxes) and fees payable or determined to be payable in connection with the execution, delivery, filing or recording of this Agreement or any other
Related Document, and the Borrower agrees to indemnify and save each Lender Indemnified Person harmless from and against any and all liabilities with respect to or resulting from any delay or failure to pay such taxes and fees. 

Section 7.5. Limited Recourse. 

(a) No recourse under any obligation, covenant or agreement of any Bank Sponsored Lender or the Borrower contained herein shall be had against
any incorporator, organizer, stockholder, member, manager, officer, director, employee or agent of such Bank Sponsored Lender or Borrower, as applicable, its respective manager or administrative agent or any Managing Agent or any of their Affiliates
by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise; it being expressly agreed and understood that this Agreement is solely a corporate, limited liability company or other relevant
entity obligation of such Bank Sponsored Lender or Borrower, as applicable, individually, and that no personal liability whatever shall attach to or be incurred by any incorporator, organizer, stockholder, member, manager, officer, director,
employee or agent of such Bank Sponsored Lender or Borrower, as applicable, its respective manager or administrative agent or any Managing Agent or any of their Affiliates (solely by virtue of such capacity) or any of them under or by reason of any
of the obligations, covenants or agreements of such Bank Sponsored Lender or Borrower, as applicable, contained in this Agreement or any Related Document, or implied therefrom, and that any and all personal liability for breaches by such Bank
Sponsored Lender or Borrower, as applicable, of any of such obligations, covenants or agreements, either at common law or at equity, or by statute, rule or regulation, of every such incorporator, organizer, stockholder, member, manager, officer,
director, employee or agent of such Bank Sponsored Lender or Borrower, as applicable, its respective manager or administrative agent or any Managing Agent or any of their Affiliates is hereby expressly waived as a condition of and in consideration
for the execution of this Agreement; provided that the foregoing shall not relieve any such Person from any liability it might otherwise have as a result of fraudulent actions taken or omissions made by them. 

(b) Notwithstanding anything to the contrary contained herein, any obligations of each Bank Sponsored Lender hereunder to any party hereto are
solely the corporate, limited liability company or other relevant entity obligations of such Bank Sponsored Lender and shall be payable at such time as funds are received by or are available to such Bank Sponsored Lender in excess of funds necessary
to pay in full all of its outstanding Commercial Paper and, to the extent funds are not available to pay such obligations, the claims relating thereto shall not constitute a claim against such Bank Sponsored Lender but shall continue to accrue. Each
party hereto agrees that the payment of any claim (as defined in Section 101 of Title 11 of the Bankruptcy Code) of any such party against a Bank Sponsored Lender shall be subordinated to the payment in full of all of its Commercial Paper or
other senior debt obligations. 

  

					
		 	
 29
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (c) Notwithstanding anything to the contrary contained herein, the obligations of the Borrower
under this Agreement are solely the trust obligations of the Borrower and, in the case of obligations of the Borrower other than payments in respect of principal and interest on the Class A Notes, shall be payable at such time as funds are
available to the Borrower pursuant to the Indenture Supplement and, to the extent funds are not available pursuant to the Indenture Supplement to pay such obligations, the claims relating thereto shall not constitute a claim against the Borrower but
shall continue to accrue. Each party hereto agrees that the payment by the Borrower of any claim (as defined in Section 101 of Title 11 of the Bankruptcy Code) of any such party hereunder shall be paid in the priority set forth in
Section 4.4 of the Indenture Supplement. 
 Section 7.6. Confidentiality. 

(a) Except to the extent otherwise required by applicable law, as required to be filed publicly with the Securities and Exchange Commission, or
unless each of the parties to this Agreement shall otherwise consent in writing, (x) each Lender and Managing Agent party to this Agreement agrees to maintain the confidentiality of this Agreement, the other Related Documents and Records
(including the contents thereof) (and all drafts hereof and documents ancillary hereto or thereto) and all non-public information pertaining to the Borrower or any Affiliate thereof and (y) the Borrower agrees to maintain the confidentiality of
any reports provided by each Managing Agent pursuant to Section 2.7(a), in each case in its communications with third parties and not to disclose, deliver or otherwise make available any such documents or information to any third party
(other than its directors, managers, officers, employees, auditors, accountants or counsel so long as such parties (i) are involved in the administration of the transactions contemplated by this Agreement or require information about such
transactions in order to perform or provide their respective duties or services for the benefit of any Affected Party or Lender Indemnified Person, and (ii) (A) are informed of the confidential nature of such document or information and
the terms of this Section 7.6, and (B) are subject to confidentiality restrictions generally consistent with this Section 7.6). The Borrower’s rights under this clause (a) shall survive the termination
of this Agreement. 
 (b) Each Lender and Managing Agent party to this Agreement agrees that it shall not (and shall not permit any of its
Affiliates to) issue any news release or make any public announcement pertaining to the transactions contemplated by this Agreement and the other Related Documents without the prior written consent of Borrower (which consent shall not be
unreasonably withheld) unless such news release or public announcement is required by law, in which case such party shall consult with Borrower prior to the issuance of such news release or public announcement. 

  

					
		 	
 30
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (c) Notwithstanding any of the foregoing, each Lender and Managing Agent may disclose or deliver
any document or information (other than any Record or any of the contents thereof with respect to clauses (i) (other than with respect to its attorneys, auditors and permitted assigns) through (iv) below): 

(i) to any of such party’s independent attorneys, consultants, accountants and auditors, and to any party’s Liquidity
Providers, providers of program credit enhancement to a Bank Sponsored Lender or in respect of its Commercial Paper or any actual or potential assignees of, or participants in, any of the rights or obligations of any Lender or the Liquidity
Providers in connection with this Agreement (but only to the extent that such assignees are permitted assignees pursuant to the terms of this Agreement and the Class A Agreement Regarding Loans), who (A) are informed by such party of the
confidential nature of such document or information and the terms of this Section 7.6, and (B) are subject to confidentiality restrictions generally consistent with this Section 7.6 to which the Borrower is a
beneficiary, 
 (ii) to any rating agency that maintains a rating for any Bank Sponsored Lender’s or RIC’s
Commercial Paper or is considering the issuance of such a rating (including, without limitation, disclosure to a rating agency pursuant to Rule 17g-5), for the purposes of reviewing the credit of any Lender or RIC in connection with such rating,

 (iii) to any other party to any Related Document, for the purposes contemplated thereby, 

(iv) in the case of any Bank Sponsored Lender party to this Agreement on the Closing Date, to any first loss provider for such
Bank Sponsored Lender as of the Closing Date who (A) is informed by such party of the confidential nature of such document or information and the terms of this Section 7.6 and (B) is subject to confidentiality restrictions
generally consistent with this Section 7.6, or 
 (v) to any Person to the extent required by law, rule,
regulation or legal process or in connection with any legal or regulatory inquiry, review, oversight or proceeding to which any party hereto or any Affected Party or any Affiliates thereof is subject. 

In the case of any disclosure permitted by clause (v) above (except for monthly statements delivered to a Lender pursuant to Section 5.2(a)
of the Indenture Supplement or information provided to a Lender or the Managing Agent on or before the date hereof), each Lender and Managing Agent shall use its best efforts, to the extent permitted by law, rule or regulation, to (x) provide
the Borrower, the Transferor or the Servicer, as applicable, with advance notice of any such disclosure and (y) cooperate with the Borrower, the Transferor or the Servicer, as applicable, in limiting the extent or effect of any such disclosure.

 (d) NOTWITHSTANDING ANYTHING TO THE CONTRARY SET FORTH HEREIN, THE OBLIGATIONS OF CONFIDENTIALITY CONTAINED HEREIN SHALL NOT APPLY TO THE
FEDERAL TAX STRUCTURE OR FEDERAL TAX TREATMENT OF THIS TRANSACTION, AND EACH PARTY (AND ANY EMPLOYEE, REPRESENTATIVE OR AGENT OF ANY PARTY) MAY DISCLOSE TO ANY AND ALL PERSONS, WITHOUT LIMITATION OF ANY KIND, THE FEDERAL TAX STRUCTURE AND FEDERAL
TAX TREATMENT OF THIS TRANSACTION. THE PRECEDING SENTENCE IS INTENDED TO CAUSE THIS TRANSACTION TO BE TREATED AS NOT HAVING BEEN OFFERED UNDER CONDITIONS OF CONFIDENTIALITY FOR PURPOSES OF
SECTION 1.6011-

  

					
		 	
 31
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
4(B)(3) (OR ANY SUCCESSOR PROVISION) OF THE TREASURY REGULATIONS PROMULGATED UNDER THE CODE, AND SHALL BE CONSTRUED IN A MANNER CONSISTENT WITH SUCH PURPOSES. IN ADDITION, EACH PARTY ACKNOWLEDGES
THAT IT HAS NO PROPRIETARY OR EXCLUSIVE RIGHTS TO THE FEDERAL TAX STRUCTURE OF THIS TRANSACTION OR ANY FEDERAL TAX MATTER OR FEDERAL TAX IDEA RELATED TO THIS TRANSACTION. 

Section 7.7. No Proceedings. The Borrower hereby agrees that, from and after the Closing Date and until the date one year plus one
day following the date on which all Commercial Paper and other rated indebtedness of a Bank Sponsored Lender has been indefeasibly paid in full, it will not, directly or indirectly, institute or cause to be instituted against such Bank Sponsored
Lender, or join any other Person in instituting or causing to be instituted against such Bank Sponsored Lender, any proceeding of the type referred to in the definition of “Insolvency Event” set forth in the Indenture; provided that,
subject to Section 7.5, the foregoing shall not in any way limit the Borrower’s right to pursue any other creditor rights or remedies that the Borrower may have for claims against any Bank Sponsored Lender. 

Section 7.8. Complete Agreement; Modification of Agreement. This Agreement constitutes the complete agreement among the parties
hereto with respect to the subject matter hereof, supersedes all prior agreements and understandings relating to the subject matter hereof, and may not be modified, altered or amended except as set forth in Section 7.9. 

Section 7.9. Amendments and Waivers. 

(a) No amendment, modification, termination or waiver of any provision of this Agreement, or any consent to any departure by the Borrower
therefrom, shall in any event be effective unless the same shall be in writing and signed by the Borrower and the Required Lenders; provided that no such amendment, modification, termination or waiver shall, unless signed by each Lender
directly affected thereby, (i) increase the Commitment of a Committed Lender or the Group Limit of a Lender Group, (ii) reduce the Advances Outstanding or the rate used to calculate Interest or any fees or other amounts payable hereunder,
(iii) postpone any date fixed for the payment of any scheduled distribution in respect of the Advances Outstanding or Interest, fees or other amounts payable on the Advances Outstanding or (iv) change the Commitment of a Committed Lender
as a percentage of the Loan Agreement Limit. 
 (b) No amendment, modification, termination or waiver of any provision of the Class A
Agreement Regarding Loans, or any consent to any departure by any party thereto, shall in any event be effective unless the same shall be in writing and signed by the Borrower. 

(c) The failure by any Managing Agent or Lender, at any time or times, to require strict performance by the Borrower of any provision of this
Agreement or any Class A Note shall not waive, affect or diminish any right of any Managing Agent or Lender thereafter to demand strict compliance and performance herewith or therewith. Any suspension or waiver of any breach or default
hereunder shall not suspend, waive or affect any other breach or default whether the same is prior or subsequent thereto and whether the same or of a different type. None of the undertakings, agreements, warranties, covenants and representations of
the Borrower contained in this Agreement, and no breach or default by the Borrower hereunder, shall be 

  

					
		 	
 32
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
deemed to have been suspended or waived by any Managing Agent or Lender unless such waiver or suspension is by an instrument in writing signed by an officer of or other duly authorized signatory
of such Managing Agent or Lender and directed to the Borrower specifying such suspension or waiver. The rights and remedies of each Managing Agent and Lender under this Agreement shall be cumulative and nonexclusive of any other rights and remedies
that any Managing Agent or Lender may have under any other agreement, including the other Related Documents, by operation of law or otherwise. 

Section 7.10. GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL. 

(a) THIS AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND
PERFORMANCE, BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401(1) AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF
LAW PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 
 (b) EACH PARTY HERETO HEREBY CONSENTS AND AGREES THAT
THE STATE OR FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM PERTAINING TO THIS AGREEMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO
THIS AGREEMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF MANHATTAN IN NEW YORK CITY; PROVIDED, FURTHER, THAT NOTHING IN
THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE ANY MANAGING AGENT OR LENDER FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A
JUDGMENT OR OTHER COURT ORDER IN FAVOR OF ANY MANAGING AGENT OR LENDER. EACH PARTY HERETO SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION THAT
SUCH PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY HERETO
HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT
ITS ADDRESS DETERMINED IN ACCORDANCE WITH SECTION 7.1 AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER POSTAGE
PREPAID. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

  

					
		 	
 33
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (c) BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY
AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE
LAWS. THEREFORE, THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE
RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 Section 7.11.
Counterparts. This Agreement may be executed in any number of separate counterparts, each of which shall collectively and separately constitute one agreement. Electronic delivery of an executed signature page of this Agreement shall be
effective as delivery of an executed counterpart hereof. 
 Section 7.12. Severability. Wherever possible, each provision of
this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective only to the
extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Agreement. 

Section 7.13. Section Titles. The section titles and table of contents contained in this Agreement are and shall be without
substantive meaning or content of any kind whatsoever and are not a part of the agreement between the parties hereto. 
 Section 7.14.
Servicing Agreement; Borrower Administration Agreement. The Managing Agents and the Lenders hereby acknowledge that they have been advised that the Borrower has entered into the Servicing Agreement and the Borrower Administration Agreement
and as a result, the Servicer or any permitted sub-servicer under the Servicing Agreement or the Administrator or any permitted sub-administrator may act on behalf of the Borrower for purposes of all consents, amendments, waivers and other actions
permitted or required to be taken, delivered or performed by the Borrower hereunder, and the Managing Agents and the Lenders agree that any such action taken by the Servicer, such sub-servicer, the Administrator or such sub-administrator in
accordance with the terms hereof on behalf of the Borrower hereunder shall satisfy the Borrower’s obligations hereunder with respect thereto. 

Section 7.15. Limitation of Liability of the Trustee. It is expressly understood and agreed by the parties hereto that
(a) this document is executed and delivered by BNY Mellon Trust of Delaware, not individually or personally, but solely as Trustee of the Borrower, (b) each of the representations, undertakings and agreements herein made on the part of the
Borrower is 

  

					
		 	
 34
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
made and intended not as a personal representation, undertaking and agreement by BNY Mellon Trust of Delaware but is made and intended for the purpose of binding only the Borrower,
(c) nothing herein contained shall be construed as creating any liability on BNY Mellon Trust of Delaware, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being
expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall BNY Mellon Trust of Delaware be personally liable for the payment of any indebtedness or expenses of
the Borrower or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Borrower under this document. 

Section 7.16. Replacement of Downgraded Bank Sponsored Lenders. If the Commercial Paper of any Bank Sponsored Lender ceases to be
rated at least A-1 by S&P and P-1 by Moody’s, the Borrower may request that the Managing Agent for the Lender Group that includes such downgraded Bank Sponsored Lender use reasonable efforts to remove such downgraded Bank Sponsored Lender
as a Bank Sponsored Lender or to replace such downgraded Bank Sponsored Lender with a new Bank Sponsored Lender whose Commercial Paper has the requisite ratings. Each Managing Agent agrees to cooperate with the Borrower to effect any such removal or
replacement, but no Managing Agent shall have any obligation to remove a downgraded Bank Sponsored Lender if as a result thereof the applicable Lender Group would not include a Bank Sponsored Lender or to replace a downgraded Bank Sponsored Lender
with a new Bank Sponsored Lender that is not administered by such Managing Agent or an Affiliate of such Managing Agent. In addition, to the extent a downgraded Bank Sponsored Lender cannot be removed or replaced as described above, the Lenders and
the Managing Agent in the applicable Lender Group agree, if the Borrower so requests, to assign not less than all of their rights and obligations under the Loan Agreement and the other Related Documents to the members of one or more existing Lender
Groups or to financial institutions that will comprise one or more new Lenders Groups. Any such assignment shall be made pursuant to documentation reasonably satisfactory to the assigning Lenders and Managing Agent and shall be subject to the prior
payment to the assigning Lenders and Managing Agent of all amounts owing to them hereunder and under the Related Documents. 

Section 7.17. Consent and Release. 

(a) Each of the Lenders and the Managing Agent hereby consents to (1) the assignment by General Electric Capital Corporation and the
assumption by Synchrony Financial or any Affiliate thereof of the duties of the Administrator under the Administration Agreement on any date on or after the date hereof (the “Administration Assignment”), (2) the assignment by
General Electric Capital Corporation and assumption by Synchrony Financial or any Affiliate of GE Capital Retail Bank of the duties of Servicer under the Servicing Agreement on any date on or after the date hereof (the “Servicing
Assignment”) and (3) an amendment to the Servicing Agreement on or after the date hereof to provide that (i) the resignation of General Electric Capital Corporation, as contemplated by the Servicing Assignment, shall not be
subject to the condition in Section 6.1 of the Servicing Agreement requiring satisfaction of the Rating Agency Condition and (ii) the appointment of Synchrony Financial or any Affiliate of GE Capital Retail Bank as successor
Servicer shall not be subject to the condition in Section 6.2 of the Servicing Agreement that any successor Servicer have a long-term debt rating of at least “Baa3” by Moody’s and “BBB-” by S&P (the
“Servicing Agreement Amendment” and, together with the Administration Assignment and the Servicing Assignment, the “Program Changes”). The Lenders and Managing Agent consents to any additional amendments to the
Related Documents necessary or desirable to effectuate or document the Program Changes. 

  

					
		 	
 35
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 (b) Effective as of the date of the Administration Assignment, and notwithstanding anything to
the contrary in the Administration Agreement, each Lender and Managing Agent, for itself and on behalf of its successors and assignees, does hereby release, remise, forgive and forever discharge General Electric Capital Corporation, in its capacity
as administrator under the Borrower Administration Agreement, from all claims, counterclaims, actions, causes of action (including any relating in any manner to any existing litigation or investigation), suits, obligations, controversies, debts,
liens, contracts, agreements, covenants, promises, liabilities, damages, penalties, demands, threats, compensation, losses, costs, judgments, orders, interest, fee or expense (including attorneys’ fees and expenses) or other similar items of
any kind, type, nature, character or description of such Lender and Managing Agent (“Claims”), in each case arising out of General Electric Capital Corporation’s duties or obligations as Administrator or any action taken or not
taken by General Electric Capital Corporation under the Administration Agreement, including, whether in law, equity or otherwise, whether now known or unknown, whether in contract or in tort, whether choate or inchoate, whether contingent or vested,
whether liquidated or unliquidated, whether fixed or unfixed, whether matured or unmatured, whether suspected or unsuspected and whether or not concealed, sealed or hidden or that may be asserted by such Lender and Managing Agent, through such
Lender and Managing Agent or otherwise on the behalf of such Lender and Managing Agent, in each case arising out of General Electric Capital Corporation’s duties or obligations as Administrator or any action taken or not taken by General
Electric Capital Corporation under the Borrower Administration Agreement, which existed at any time on or prior to the date hereof, including relating or purportedly relating in any manner whatsoever to any facts, known or unknown, in existence on
or at any time prior to the date hereof, by or in favor of such Lender and Managing Agent. 
 (c) General Electric Capital Corporation
intends to enter into a subservicing agreement with Synchrony Financial, or any Affiliate thereof (the “Subservicer”) pursuant to which General Electric Capital Corporation will delegate to such Person substantially all of the
duties and obligations of General Electric Capital Corporation as Servicer under the Related Documents (such agreement, the “Subservicing Agreement”). Effective as of the Delegation Date (as defined below), each Lender and Managing
Agent, for itself and on behalf of its successors and assignees, does hereby release, remise, forgive and forever discharge General Electric Capital Corporation from all Claims arising out of General Electric Capital Corporation’s duties or
obligations as Servicer or any action taken or not taken by General Electric Capital Corporation under the Servicing Agreement, to the extent any such duties or obligations have been delegated to Subservicer under the Subservicing Agreement or such
action, or failure to act, as applicable, was attributable to the actions or failure to act by Subservicer in accordance with the Subservicing Agreement, including, whether in law, equity or otherwise, whether now known or unknown, whether in
contract or in tort, whether choate or inchoate, whether contingent or vested, whether liquidated or unliquidated, whether fixed or unfixed, whether matured or unmatured, whether suspected or unsuspected and whether or not concealed, sealed or
hidden or that may be asserted by such Lender and Managing Agent, through such Lender and Managing Agent or otherwise on the behalf of such Lender and Managing Agent, which existed at any time on or prior to the date hereof or the Delegation Date,

  

					
		 	
 36
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
including relating or purportedly relating in any manner whatsoever to any facts, known or unknown, in existence on or at any time prior to the date hereof or prior to the Delegation Date, by or
in favor of such Lender and Managing Agent (collectively, the “Servicing Liability Release”). The foregoing Servicing Liability Release shall be effective on the date (the “Delegation Date”) on which the
Subservicer agrees in writing to indemnify the Lenders and the Managing Agent for any Claims that are released pursuant to the Servicing Liability Release. For the avoidance of doubt, and notwithstanding anything to the contrary in the Servicing
Liability Release: 
 (i) in accordance with Section 2.1 of the Servicing Agreement, Servicer shall remain liable
for the performance of the duties and obligations delegated to the Subservicer, and 
 (ii) the Borrower shall not be deemed
party to the Subservicing Agreement or the Servicing Liability Release, and the Servicing Liability Release shall be solely between the Lenders, the Managing Agents and General Electric Capital Corporation, and shall not cause a release of any of
the Servicer’s duties and obligations under the Servicing Agreement, or otherwise limit any rights of the Borrower under the Servicing Agreement, or any rights of the Indenture Trustee as assignee of the Borrower’s rights thereunder or any
rights of any other Noteholder, and shall not limit the rights of the Lenders or the Managing Agents, as Noteholders, to direct the Indenture Trustee in enforcing the Servicing Agreement or in exercising any other right available to the Indenture
Trustee under the Indenture. 
 (d) Each Lender and Managing Agent, for itself and on behalf of its successors and assignees, fully
and forever agrees and covenants not to initiate, file, prosecute, plead, sustain or maintain any complaint, action, cause of action, suit, petition or claim with or before any judicial, quasi judicial, administrative or regulatory court, tribunal,
board, regulatory authority, hearing officer, judge, magistrate or similar authority, or with or before any arbitrator, mediator or arbitration or mediation authority, directly or indirectly, against General Electric Capital Corporation for any and
all manner of Claims that are the subject of the releases set forth above; provided that the Borrower shall not be deemed a party to the releases set forth above, and such releases shall not limit the rights of the Lenders or the Managing
Agents, as Series 2014-VFN1 Noteholders, to direct the Indenture Trustee in enforcing the Servicing Agreement or in exercising any other right available to the Indenture Trustee under the Indenture. 

[Signatures Follow] 

  

					
		 	
 37
	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

							
	BORROWER	 		 	 GE CAPITAL CREDIT CARD MASTER

NOTE TRUST, as Borrower

			
		 		 	By General Electric Capital Corporation, as Administrator
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

  

					
		 	S-1	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

							
	[—] LENDER GROUP1	 		 	[—], as a Bank Sponsored Lender in the [—] Lender Group
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

			
		 		 	[—], as a Committed Lender in the [—] Lender Group
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

			
		 		 	[—], as the Managing Agent for the [—] Lender Group
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

  
  

	1 	To be repeated as necessary for multiple Lender Groups. 

  

					
		 	S-2	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 Exhibit A 

Form of Borrowing Notice 
  

	TO:	The Managing Agents 

  

	RE:	Borrowing Notice 

 Gentlemen and Ladies: 

This Borrowing Notice is delivered to you pursuant to Section 2.2 of the Amendment and Restated Loan Agreement (Series 2010-VFN1, Class
A), dated as of [            ], 2014 (the “Class A Loan Agreement”) by and among GE Capital Credit Card Master Note Trust, a statutory trust organized under the laws of the State
of Delaware (the “Borrower”), the Lenders parties thereto and the Managing Agents for the Lender Groups parties thereto. Unless otherwise defined herein or the context otherwise requires, capitalized terms used herein have the meanings
provided in the Loan Agreement. 
 The Borrower hereby requests that on
[            ], an Advance be made in the aggregate principal amount of $        . 

Please wire your Lender Group’s pro rata share (based on the proportion that your Lender Group’s Group Limit bears to the
Class A Loan Agreement Limit) of $        to [            ]. 

The Borrower has caused this Borrowing Notice to be executed and delivered by its duly authorized officer or representative this
     day of             ,         . 

  

					
		 	A-1	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 
			
	GE CAPITAL CREDIT CARD MASTER NOTE TRUST, as Borrower
	
	By: General Electric Capital Corporation, as Administrator
		
	By:	 	
	Name:	 	
	Title:	 	

  

					
		 	A-2	 	 GE Capital Credit Card Master Note Trust,

Loan Agreement (Series 
2014-VFN[—], Class A)

  

 SCHEDULE A 

LENDER GROUPS, BANK SPONSORED LENDERS, 

COMMITTED LENDERS, MANAGING AGENTS AND RELATED INFORMATION 
  

													
	 Lender Group
	 	 Bank Sponsored
Lender(s)
	 	 Committed

Lender(s)
	 	 Class A

Commitment
 Amount
	 	 Managing

Agent
	 	 Address/Telecopy for Email Notices
	 	 Account for Funds
Transfer

							
	[•]	 	[•]	 	[•]	 	[•]	 	[•]	 	[•]	 	[•]

  
 -i-EX-10.58

 Exhibit 10.58 

GE SALES FINANCE MASTER TRUST, 

as Issuer, 
 and

 DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Indenture Trustee 

FORM OF SERIES 2014-[—] INDENTURE SUPPLEMENT 

Dated as of [—], 2014 

  

					
		 		 	 Indenture Supplement

Series 2014-[—]

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 ARTICLE I
	  	DEFINITIONS	  	 	1	  
			
	 SECTION 1.1.
	  	 Definitions
	  	 	1	  
	 SECTION 1.2.
	  	 Incorporation of Terms
	  	 	16	  
			
	 ARTICLE II
	  	CREATION OF THE SERIES 2014-[—] NOTES	  	 	16	  
			
	 SECTION 2.1.
	  	 Designation
	  	 	16	  
	 SECTION 2.2.
	  	 Advances and Optional Amortizations
	  	 	16	  
			
	 ARTICLE III
	  	REPRESENTATIONS, WARRANTIES AND COVENANTS	  	 	17	  
			
	 SECTION 3.1.
	  	 Representations, Warranties and Covenants with respect to Receivables
	  	 	17	  
	 SECTION 3.2.
	  	 Consent to Reduction in Periodic Finance Charges and Other Fees
	  	 	17	  
			
	 ARTICLE IV
	  	RIGHTS OF SERIES 2014-[—] NOTEHOLDERS AND ALLOCATION AND APPLICATION OF COLLECTIONS	  	 	18	  
			
	 SECTION 4.1.
	  	 Determination of Interest and Principal
	  	 	18	  
	 SECTION 4.2.
	  	 Establishment of Accounts
	  	 	20	  
	 SECTION 4.3.
	  	 Calculations and Series Allocations
	  	 	21	  
	 SECTION 4.4.
	  	 Application of Available Finance Charge Collections and Available Principal Collections
	  	 	22	  
	 SECTION 4.5.
	  	 Payments
	  	 	24	  
	 SECTION 4.6.
	  	 Investor Charge-Offs
	  	 	25	  
	 SECTION 4.7.
	  	 Reallocated Principal Collections
	  	 	25	  
	 SECTION 4.8.
	  	 Excess Finance Charge Collections
	  	 	25	  
	 SECTION 4.9.
	  	 Shared Principal Collections
	  	 	26	  
	 SECTION 4.10.
	  	 Investment of Amounts on Deposit in Series Accounts
	  	 	26	  
	 SECTION 4.11.
	  	 Determination of LIBOR
	  	 	26	  
			
	 ARTICLE V
	  	DELIVERY OF SERIES 2014-[—] NOTES; REPORTS TO SERIES 2014-[—] NOTEHOLDERS	  	 	27	  
			
	 SECTION 5.1.
	  	 Delivery and Payment for the Series 2014-[—] Notes
	  	 	27	  
	 SECTION 5.2.
	  	 Reports and Statements to Series 2014-[—] Noteholders
	  	 	27	  
			
	 ARTICLE VI
	  	SERIES 2014-[—] EARLY AMORTIZATION EVENTS	  	 	28	  
			
	 SECTION 6.1.
	  	 Series 2014-[—] Early Amortization Events
	  	 	28	  
			
	 ARTICLE VII
	  	REDEMPTION OF SERIES 2014-[—] NOTES; FINAL DISTRIBUTIONS; SERIES TERMINATION	  	 	30	  
			
	 SECTION 7.1.
	  	 Redemption Price; Final Distributions
	  	 	30	  
	 SECTION 7.2.
	  	 Distributions After Repudiation and Payment of Damages by FDIC
	  	 	31	  
	 SECTION 7.3.
	  	 Series Termination
	  	 	31	  
			
	 ARTICLE VIII
	  	MISCELLANEOUS PROVISIONS	  	 	32	  

  

					
		 	i	 	 Indenture Supplement

Series 2014-[—]

 TABLE OF CONTENTS 

(continued) 
  

 

							
	 	    	 	  	Page	 
			
	 SECTION 8.1.
	    	 Ratification of Indenture; Amendments
	  	 	32	  
	 SECTION 8.2.
	    	 Form of Delivery of the Series 2014-[—] Notes
	  	 	32	  
	 SECTION 8.3.
	    	 Counterparts
	  	 	32	  
	 SECTION 8.4.
	    	 GOVERNING LAW
	  	 	32	  
	 SECTION 8.5.
	    	 Limitation of Liability
	  	 	33	  
	 SECTION 8.6.
	    	 Rights of the Indenture Trustee
	  	 	34	  
	 SECTION 8.7.
	    	 Compliance with Applicable Anti-Terrorism and Anti-Money Laundering Regulations
	  	 	34	  
	 SECTION 8.8.
	    	 Tax
	  	 	34	  
			
	 EXHIBITS
	    		  			
			
	 EXHIBIT A-1
	    	FORM OF CLASS A NOTE	  			
	 EXHIBIT A-2
	    	FORM OF CLASS B NOTE	  			
	 EXHIBIT B
	    	FORM OF MONTHLY STATEMENT	  			
	 EXHIBIT C
	    	FORM OF OPTIONAL AMORTIZATION NOTICE	  			
			
	 SCHEDULES
	    		  			
			
	 SCHEDULE I
	    	 PERFECTION REPRESENTATIONS, WARRANTIES AND

COVENANTS (WITH RESPECT TO RECEIVABLES)
	  			

  

					
		 	ii	 	 Indenture Supplement

Series 2014-[—]

 SERIES 2014-[—] INDENTURE SUPPLEMENT, dated
as of [—], 2014 (the “Indenture Supplement”), between GE SALES FINANCE MASTER TRUST, a Delaware statutory trust (herein, the “Issuer”), and DEUTSCHE BANK TRUST
COMPANY AMERICAS, a New York banking corporation, not in its individual capacity, but solely as indenture trustee (herein, together with its successors in the trusts thereunder as provided in the Indenture referred to below, the “Indenture
Trustee”) under the Master Indenture, dated as of February 29, 2012 (as amended, restated, modified or supplemented from time to time, the “Indenture”), between the Issuer and the Indenture Trustee (the Indenture,
together with this Indenture Supplement, the “Agreement”). 
 The Principal Terms of this Series are set forth in this
Indenture Supplement to the Indenture. 
 ARTICLE I 

DEFINITIONS 
 SECTION 1.1.
Definitions. 
 (a) Capitalized terms used and not otherwise defined herein are used as defined in Section 1.1 of the Indenture.
This Indenture Supplement shall be interpreted in accordance with the conventions set forth in Section 1.2 of the Indenture. 
 (b)
Each capitalized term defined herein relates only to Series 2014-[—] and to no other Series. Whenever used in this Indenture Supplement, the following words and phrases shall have the following
meanings: 
 “Addition Date” means an “Addition Date” as such term is defined in the Transfer Agreement.

 “Additional Enhancement Amount” is defined in Section 2.2(a). 

“Additional Funds” is defined in Section 2.2(b). 

“Advance” means an increase in the Note Principal Balance during the Revolving Period made pursuant to
Section 2.1(a) of each Loan Agreement. 
 “Advance Amount” means, with respect to any Advance Date, the sum of
each of the Class A Advance Amount and the Class B Advance Amount on such Advance Date. 
 “Advance Date” means
each date on which a Class A Advance and a Class B Advance is made pursuant to Section 2.1 of the Class A Loan Agreement and the Class B Loan Agreement, respectively. 

“Agreement” is defined in the preamble. 

“Allocation Percentage” means, with respect to any date of determination in any Monthly Period, the percentage equivalent of
a fraction: 

  

					
		 		 	Indenture Supplement
		 		 	Series 2014-[—]

 (a) the numerator of which shall be equal to: 

(i) for Principal Collections during the Revolving Period and for Finance Charge Collections and Default Amounts at any time,
the Collateral Amount at the end of the last day of the prior Monthly Period (or, in the case of the first Monthly Period, on the Closing Date), less, during the Controlled Amortization Period, any reductions to be made to the Collateral
Amount on account of principal payments to be made on the Payment Date falling in the Monthly Period for which the Allocation Percentage is being calculated; provided that with respect to any Monthly Period in which one or more Numerator Reset Dates
occur, the numerator determined pursuant to this clause (i) shall be (A) the Collateral Amount as of the close of business on the last day of the prior Monthly Period less, during the Controlled Amortization Period, any reductions
to be made to the Collateral Amount on account of payments of Monthly Principal to be made on the Payment Date falling in the Monthly Period for which the Allocation Percentage is being calculated, for the period from and including the first day of
the current Monthly Period to but excluding the first Numerator Reset Date that occurs in such Monthly Period and (B) the Collateral Amount as of the close of business on such Numerator Reset Date less, during the Controlled Amortization
Period, any reductions (to the extent not reflected in the Collateral Amount) to be made to the Collateral Amount on account of principal payments to be made on the Payment Date falling in the Monthly Period for which the Allocation Percentage is
being calculated, for each period from and including such Numerator Reset Date to the earlier of the last day of such Monthly Period (in which case such period shall include such day) or the next succeeding Numerator Reset Date (in which case such
period shall not include such succeeding Numerator Reset Date); provided, further, that if the Issuer is permitted to make a single monthly deposit of Collections into the Collection Account pursuant to Section 8.4 of the
Indenture and this Indenture Supplement and has not elected to make daily deposits of Collections with respect to any Monthly Period in which one or more Numerator Reset Dates occur, the numerator determined pursuant to this clause
(i) shall be the Weighted Average Collateral Amount for such Monthly Period; 
 (ii) for Principal Collections
(x) during the Early Amortization Period if the first day of the Early Amortization Period commenced prior to the Step-Down Date and (y) during the period commencing on the first day of the Controlled Amortization Period to but excluding
the Step-Down Date, the Collateral Amount at the end of the last day of the Revolving Period; provided that on and after the date on which an amount equal to the Note Principal Balance has been deposited into the Collection Account, the
numerator shall equal zero; or 
 (iii) for Principal Collections (x) during the Early Amortization Period if the first
day of the Early Amortization Period commenced on or after the Step-Down Date and (y) during the Controlled Amortization Period on any date of determination on or after the Step-Down Date,
[—]% of the Collateral Amount at the end of the last day of the Revolving Period; provided that on and after the date on which an amount equal to the Note Principal Balance has been
deposited into the Collection Account, the numerator shall equal zero; and 

  

					
		 	2	 	Indenture Supplement
		 		 	Series 2014-[—]

 (b) the denominator of which shall be the greater of (x) the Aggregate Principal Amounts
determined as of the close of business on the last day of the prior Monthly Period (or, in the case of the first Monthly Period, as of the Closing Date) and (y) the sum of the numerators used to calculate the allocation percentages for
allocations with respect to Finance Charge Collections, Principal Collections or Default Amounts, as applicable, for all outstanding Series on such date of determination; provided that if one or more Reset Dates occur in a Monthly Period, the
denominator determined pursuant to sub-clause (x) of this clause (b) shall be (A) the Aggregate Principal Amounts as of the close of business on the last day of the prior Monthly Period for the period from and including
the first day of the current Monthly Period, to but excluding such Reset Date and (B) the Aggregate Principal Amounts as of the close of business on such Reset Date, for the period from and including such Reset Date to the earlier of the last
day of such Monthly Period (in which case such period shall include such day) or the next succeeding Reset Date (in which case such period shall not include such succeeding Reset Date); and provided, further, that notwithstanding the
preceding proviso, if a Reset Date occurs during any Monthly Period and if the Issuer is permitted to make a single monthly deposit of Collections into the Collection Account pursuant to Section 8.4 of the Indenture and this Indenture
Supplement and has not elected to make daily deposits of Collections with respect to such Monthly Period, then the denominator determined pursuant to sub-clause (x) of this clause (b) for each day during such Monthly Period
shall equal the Average Principal Balance for such Monthly Period. 
 “Available Finance Charge Collections” means, for any
Payment Date, an amount equal to the sum of (a) the Investor Finance Charge Collections for the preceding Monthly Period, (b) the Series 2014-[—] Excess Finance Charge Collections for the
preceding Monthly Period and (c) any Reallocated Principal Collections which pursuant to Section 4.7 are required to be applied on the related Transfer Date. 

“Available Principal Collections” means, for any Payment Date, an amount equal to the sum of (a) the Investor Principal
Collections for the preceding Monthly Period, plus (b) the amount of Principal Collections allocated to Series 2014-[—] pursuant to Section 4.3(b) for all Dates of
Processing during such Monthly Period that are deposited to the Collection Account in respect of Optional Amortization Amounts that have not been distributed to the Series 2014-[—] Noteholders,
minus (c) the amount of Reallocated Principal Collections with respect to the preceding Monthly Period which pursuant to Section 4.7 are required to be applied on the related Transfer Date, plus (d) the sum of
(i) any Shared Principal Collections with respect to other Principal Sharing Series (including any amounts on deposit in the Excess Funding Account that are allocated to Series 2014-[—] for
application as Shared Principal Collections), (ii) the aggregate amount to be treated as Available Principal Collections pursuant to Sections 4.4(a)(vi) and (vii) to the extent such amounts were included in the Required Finance
Charge Deposit Amount for the related Monthly Period, and (iii) during an Early Amortization Period, the result of (x) the lesser of (A) the aggregate amount of Finance Charge Collections allocated to Series 2014-[—] pursuant to Section 4.3(a) for all Dates of Processing during any portion of the Monthly Period preceding the date on which the Early Amortization Period commences and (B) the
Required Finance Charge Deposit Amount during the portion of such Monthly Period preceding the date on which the Early Amortization Period commences, plus (y) the aggregate amount of Finance Charge Collections allocated to Series 2014-[—] pursuant to Section 4.3(a) for all Dates of Processing during any portion of the Monthly Period on and after the commencement of the Early Amortization Period, minus (z) the Required
Finance Charge Deposit Amount. 

  

					
		 	3	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Average Principal Balance” means for any Monthly Period in which one or more
Reset Dates occur, the sum of (i) the Aggregate Principal Amounts determined as of the close of business on the last day of the prior Monthly Period, multiplied by a fraction the numerator of which is the number of days from and
including the first day of such Monthly Period, to but excluding the first such Reset Date, and the denominator of which is the number of days in such Monthly Period, and (ii) for each such Reset Date, the product of the Aggregate Principal
Amounts determined as of the close of business on such Reset Date, multiplied by a fraction, the numerator of which is the number of days from and including such Reset Date, to the earlier of the last day of such Monthly Period (in which case
such period shall include such date) or the next succeeding Reset Date (in which case such period shall exclude such date), and the denominator of which is the number of days in such Monthly Period. 

“Business Day” means any day that is not a Saturday, a Sunday or a day on which banks are required or permitted to be closed
in the State of New York or the State of Connecticut. 
 “Class A Additional Interest” is defined in
Section 4.1(a). 
 “Class A Advance” means an increase in the Class A Note Principal Balance during
the Revolving Period made pursuant to Section 2.1(a) of the Class A Loan Agreement. 
 “Class A Advance
Amount” means the amount of the increase in the Class A Note Principal Balance occurring as a result of a Class A Advance. 

“Class A Deficiency Amount” is defined in Section 4.1(a). 

“Class A Fee Letter” means with respect to any Class A Lender Group, the “Fee Letter” for such Lender Group
defined in the Class A Loan Agreement. 
 “Class A Funding Tranche” means each portion of a Class A Lender
Interest accruing interest for the same Interest Period at the same Class A Note Interest Rate. 
 “Class A Group
Limit” means, with respect to any Class A Lender Group, the “Group Limit” as defined in the Class A Loan Agreement for such Class A Lender Group. 

“Class A Lender Group” means a “Lender Group” under (and as defined in) the Class A Loan Agreement. 

“Class A Lender Interest” is defined in Section 2.1(b). 

“Class A Lenders” means the “Lenders” under (and as defined in) the Class A Loan Agreement. 

“Class A Loan Agreement” means the Loan Agreement (Series 2014-[—], Class
A) dated as of [—], 2014, among the Issuer, the Class A Lenders and the Lender Group Agents party thereto. 

  

					
		 	4	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Class A Monthly Interest” is defined in Section 4.1(a). 

“Class A Monthly Principal” is defined in Section 4.1(c). 

“Class A Non-Use Fee” means, with respect to any Class A Lender Group, the “Class A Non-Use Fee” as defined in
the Class A Fee Letter for such Class A Lender Group. 
 “Class A Note Initial Principal Balance” means
$[        ]. 
 “Class A Note Interest Rate” means for any Interest Period and any
Class A Lender Interest, the rate reported as the “Funding Rate” for such Class A Lender Interest by the Lender Group Agent on behalf of the Class A Noteholder for such Class A Lender Interest to the Servicer pursuant
to the Class A Loan Agreement. 
 “Class A Note Principal Balance” means, on any date of determination, an amount
equal to (a) the Class A Note Initial Principal Balance, plus (b) the aggregate amount of all Class A Advance Amounts for all Advances relating to the Class A Note occurring on or prior to such date of determination,
minus (c) the aggregate amount of principal payments made to the Class A Noteholders on or prior to such date of determination. 

“Class A Noteholder” means the Person in whose name a Class A Note is registered in the Note Register. 

“Class A Notes” means any one of the Notes executed by the Issuer and authenticated by or on behalf of the Indenture Trustee,
substantially in the form of Exhibit A-1. 
 “Class A Pro Rata Percentage” means a fraction, expressed as a percentage, the
numerator of which is [—].00 and the denominator of which is [—].00. 

“Class A Reimbursement Amounts” means the “Class A Reimbursement Amounts” as defined in the Class A Loan
Agreement. 
 “Class A Required Amount” means, for any Payment Date, an amount equal to the excess of the sum of the
amounts described in Sections 4.4(a)(i) through (iii) over Available Finance Charge Collections applied to pay such amount pursuant to Section 4.4(a). 

“Class B Additional Interest” is defined in Section 4.1(b). 

“Class B Advance” means an increase in the Class B Note Principal Balance during the Revolving Period made pursuant to
Section 2.2(a) and the Class B Loan Agreement. 
 “Class B Advance Amount” means the amount of the increase in
the Class B Note Principal Balance occurring as a result of a Class B Advance. 
 “Class B Deficiency Amount” is defined in
Section 4.1(b). 
 “Class B Fee Letter” means, with respect to any Class B Lender Group, the “Fee
Letter” for such Lender Group as defined in the Class B Loan Agreement. 

  

					
		 	5	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Class B Funding Tranche” means each portion of a Class B Lender Interest
accruing interest for the same Interest Period at the same Class B Note Interest Rate. 
 “Class B Group Limit” means, with
respect to any Class B Lender Group, the “Group Limit” as defined in the Class B Loan Agreement for such Class B Lender Group. 

“Class B Lender Group” means each “Lender Group” under (and as defined in) the Class B Loan Agreement. 

“Class B Lender Interest” is defined in Section 2.1(b). 

“Class B Lenders” means the “Lenders” under (and as defined in) the Class B Loan Agreement. 

“Class B Loan Agreement” means the Loan Agreement (Series 2014-[—], Class
B) dated as of [—], 2014, among the Issuer and the initial Class B Noteholders. 

“Class B Monthly Interest” is defined in Section 4.1(b). 

“Class B Monthly Principal” is defined in Section 4.1(d). 

“Class B Non-Use Fee” means, with respect to any Class B Lender, the “Class B Non-Use Fee” as defined in the Class
B Fee Letter for such Class B Lender Group. 
 “Class B Note Initial Principal Balance” means
$[            ]. 
 “Class B Note Interest Rate” for any
Interest Period and any Class B Lender Interest, the rate reported as the “Funding Rate” for such Class B Lender Interest by the Lender Group Agent on behalf of the Class B Noteholder for such Class B Lender Interest to the Servicer
pursuant to the Class B Loan Agreement. 
 “Class B Note Principal Balance” means, on any date of determination, an amount
equal to (a) the Class B Note Initial Principal Balance, plus, (b) the aggregate amount of all Class B Amounts for all Advances relating to the Class B Notes occurring on or prior to such date of determination, minus (c) the aggregate
amount of principal payments made to the Class B Noteholders on or prior to such date of determination. 
 “Class B
Noteholder” means the Person in whose name a Class B Note is registered in the Note Register. 
 “Class B Notes”
means any one of the Notes executed by the Issuer and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-2. 

“Class B Pro Rata Percentage” means a fraction, expressed as a percentage, the numerator of which is [—].00 and the denominator of which is [ ].00. 
 “Class B Reimbursement
Amounts” means the “Class B Reimbursement Amounts” as defined in the Class B Loan Agreement. 

  

					
		 	6	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Class B Required Amount” means, for any Payment Date, an amount equal to the
excess of the sum of the amounts described in Sections 4.4(a)(iv) and (v) over Available Finance Charge Collections applied to pay such amount pursuant to Section 4.4(a). 

“Closing Date” means [—], 2014. 

“Collateral Amount” means, as of any date of determination, an amount equal to the excess of (a) the sum of (i) the
Initial Note Principal Balance, (ii) the aggregate Advance Amounts funded on or prior to such date and (iii) the Initial Excess Collateral Amount, over (b) the sum of (i) the amount of principal previously paid to the Series
2014-[—] Noteholders, (ii) the aggregate of all reductions in the Collateral Amount pursuant to Section 4.4(f) and (iii) the excess, if any, of the aggregate amount of
Investor Charge-Offs and Reallocated Principal Collections over the reimbursements of such amounts pursuant to Section 4.4(a)(vii) prior to such date. Notwithstanding the foregoing, when the Note Principal Balance is reduced to zero, the
Collateral Amount shall also equal zero. 
 “Controlled Amortization Amount” means, for any Payment Date with respect to
the Controlled Amortization Period, beginning with the first Payment Date following the first Monthly Period during the Controlled Amortization Period and prior to the payment in full of the Note Principal Balance, the lesser of (a) the Note
Principal Balance as of the close of business on the last day of the Revolving Period divided by the applicable Scheduled Controlled Amortization Period Length (with the quotient rounded up to the nearest dollar) and (b) the excess of
the Note Principal Balance over the Controlled Amortization Amount Target as of the last day of the prior Monthly Period. 

“Controlled Amortization Amount Target” means, with respect to any Payment Date, (a) the Note Principal Balance as of
the close of business on the last day of the Revolving Period less (b) the product (rounded up to the nearest dollar) of (i) a fraction, the numerator of which is the number of full Monthly Periods that have elapsed during the Controlled
Amortization Period as of such Payment Date (which, for the avoidance of doubt, shall exclude the Monthly Period in which such Payment Date falls), and the denominator of which is the Scheduled Controlled Amortization Period Length and (ii) the
Note Principal Balance as of the close of business on the last day of the Revolving Period. 
 “Controlled Amortization
Date” means [—], 20[—], or such earlier date, which shall be the first day of a Monthly Period, as may be specified by the Transferor by
written notice to the Indenture Trustee and each Lender Group Agent. 
 “Controlled Amortization Period” means, unless an
Early Amortization Event shall have occurred prior thereto, the period commencing at the opening of business on the Controlled Amortization Date and ending on the earlier to occur of (a) the commencement of the Early Amortization Period and
(b) the Final Payment Date. 
 “Controlled Amortization Shortfall” means, with respect to any Monthly Period during
the Controlled Amortization Period, the excess, if any, of the Controlled Payment Amount for the previous Monthly Period over the amounts paid pursuant to Section 4.4(c) with respect to the Class A Monthly Principal and the Class B
Monthly Principal for the previous Monthly Period. 

  

					
		 	7	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Controlled Payment Amount” means, with respect to any Payment Date with respect
to the Controlled Amortization Period, the sum of (a) the Controlled Amortization Amount for such Payment Date and (b) any existing Controlled Amortization Shortfall. 

“CP Rate” means the “CP Rate” as defined in the Class A Loan Agreement or the Class B Loan Agreement, as
applicable. 
 “Default Amount” means, as to any Defaulted Account, the amount of Principal Receivables and, so long as
amounts that would have constituted Collections of Principal Receivables are allocated to the Issuer pursuant to Section 6.2(a) of the Transfer Agreement, all amounts that would have constituted Principal Receivables but for Transferor’s
inability to transfer Transferred Interests to Issuer (other than Receivables associated with any “Ineligible Interest” (as designated pursuant to Section 6.1(d) of the Transfer Agreement), unless there is an Insolvency Event with
respect to Originator or the Transferor) in such Defaulted Account on the day it became a Defaulted Account. 
 “Defaulted
Account” means an Account in which there are Principal Receivables that have been designated as Charged-Off Receivables. 

“Default Rate” is defined in the Class A Loan Agreement and the Class B Loan Agreement. 

“Designated Maturity” means, for any LIBOR Determination Date, one month; provided that the Issuer and the applicable Lender
Group Agent may agree that the Designated Maturity for purposes of determining LIBOR for the initial Interest Period for any Advance may be a maturity other than one month, and if the applicable LIBOR is to be determined by straight-line
interpolation, the Issuer and the Lender Group Agent will notify the Indenture Trustee of the applicable Designated Maturity or Designated Maturities, as applicable, on or prior to the applicable LIBOR Determination Date for such Advance. 

“Dilution” means any downward adjustment made by Servicer in the amount of any Transferred Receivable (a) because of a
rebate, refund, unauthorized charge (other than a fraudulent charge) or billing error to an accountholder, (b) because such Transferred Receivable was created in respect of merchandise which was refused or returned by an accountholder or
(c) for any other reason other than receiving Collections therefor or charging off such amount as uncollectible. 

“Distribution Account” means the account designated as such, established and owned by the Issuer and maintained in accordance
with Section 4.2. 
 “Early Amortization Period” means the period commencing on the date on which a Trust Early
Amortization Event or a Series 2014-[—] Early Amortization Event is deemed to occur and ending on the Final Payment Date. 

“Enhancement Reduction Amount” is defined in Section 2.2(b). 

“Excess Collateral Amount” means, at any time, the excess of (a) the Collateral Amount over (b) the Note Principal
Balance. 

  

					
		 	8	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Excess Spread Percentage” means, for any Monthly Period, the annualized
percentage equivalent of a fraction, 
 (a) the numerator of which equals, the result of the following calculation: 

(i) Finance Charge Collections allocated to all Outstanding Series of Notes for such Monthly Period, minus  

(ii) the Default Amount for all Accounts that became Defaulted Accounts allocated to all Outstanding Series of Notes for such
Monthly Period, minus  
 (iii) the sum of the amounts payable with respect to interest on all Series of Notes on the
Payment Date immediately following such Monthly Period, calculated after (x) subtracting any net swap receipts (excluding termination payments) received by the Issuer for any Series on the following Payment Date and (y) adding any net swap
payments (excluding termination payments) payable by the Issuer for any such Series on the following Payment Date, minus  

(iv) the Monthly Servicing Fee allocated to all Outstanding Series of Notes for such Monthly Period and payable on the
following Payment Date; and 
 (b) the denominator of which equals the sum of the Weighted Average Collateral Amounts for all Outstanding
Series of Notes with respect to such Monthly Period. 
 “FDIC Rule Requirements” means, collectively, the FDIC Rule
Requirements under the Indenture. 
 “Final Payment Date” means the earliest to occur of (a) the date on which the
Note Principal Balance is paid in full, (b) the date on which the Collateral Amount is reduced to zero and (c) the Series Maturity Date. 

“Finance Charge Account” means the account designated as such, established and owned by the Issuer and maintained in
accordance with Section 4.2. 
 “Finance Charge Shortfall” is defined in Section 4.8. 

“Group One” means Series 2014-[—] and each other outstanding Series
previously or hereafter specified in the related Indenture Supplement to be included in Group One. 
 “Indenture” is
defined in the preamble. 
 “Indenture Trustee” is defined in the preamble. 

“Initial Excess Collateral Amount” means, on any date of determination, an amount equal to
(a) $[        ], plus (b) the aggregate Additional Enhancement Amounts for all Advances occurring on or prior to such date of determination, minus (c) the aggregate Enhancement
Reduction Amounts for all Optional Amortizations occurring on or prior to such date of determination. 

  

					
		 	9	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Initial Note Principal Balance” means an amount equal to the sum of the
Class A Note Initial Principal Balance and the Class B Note Initial Principal Balance. 
 “Interest Period” means, for
any Payment Date, the period from and including the Payment Date immediately preceding such Payment Date (or, in the case of the first Payment Date, from and including the Closing Date) to but excluding such Payment Date; provided that the
initial Interest Period with respect to any Advance shall be the period from and including the related Advance Date to but excluding the initial Payment Date on which Monthly Interest is payable with respect to such Advance, as determined in
accordance with Section 4.1(e). 
 “Investment Earnings” means, for any Payment Date, all interest and earnings
on Permitted Investments included in the Series Accounts (net of losses and investment expenses) during the period commencing on and including the Payment Date immediately preceding such Payment Date and ending on but excluding such Payment Date.

 “Investor Charge-Offs” is defined in Section 4.6. 

“Investor Default Amount” means, for any Monthly Period, the sum for all Accounts that became Defaulted Accounts during such
Monthly Period (or, with respect to the initial Monthly Period, the sum for all Accounts that became Defaulted Accounts during the period commencing the Closing Date and continuing through the end of such Monthly Period), of the following amount:
the product of (a) the Default Amount with respect to each such Defaulted Account and (b) the Allocation Percentage on the day such Account became a Defaulted Account. 

“Investor Finance Charge Collections” means, for any Monthly Period an amount equal to the aggregate amount of Finance Charge
Collections allocated to Series 2014-[—] pursuant to Section 4.3(a) for all Dates of Processing in such Monthly Period. 

“Investor Principal Collections” means, for any Monthly Period (a) during the Revolving Period, the lesser of
(i) the aggregate amount of Principal Collections allocated to Series 2014-[—] pursuant to Section 4.3(b) for all Dates of Processing during such Monthly Period and (ii) the
amount of Reallocated Principal Collections that are required to be applied on the related Payment Date pursuant to Section 4.7, and (b) during the Controlled Amortization Period or the Early Amortization Period, an amount equal to
the lesser of (i) the sum of the Required Principal Deposit Amount for such Monthly Period and the amount of Reallocated Principal Collections that are required to be applied on the related Payment Date pursuant to Section 4.7, and
(ii) the aggregate amount of Principal Collections allocated to Series 2014-[—] pursuant to Section 4.3(b) for all Dates of Processing during such Monthly Period; provided that,
for any Monthly Period in which the Early Amortization Period commences, the amount described in this clause (ii) shall equal the sum of (x) the lesser of (A) the aggregate amount of Principal Collections allocated to Series 2014-[—] pursuant to Section 4.3(b) for all Dates of Processing during any portion of the Monthly Period preceding the date on which the Early Amortization Period commences and (B) the sum of
the Required Principal Deposit Amount during the portion of such Monthly Period preceding the date on which the Early Amortization Period commences, and the amount of Reallocated Principal Collections that are required to be applied on the related
Payment Date pursuant to Section 4.7 plus (y) the aggregate amount of Principal Collections allocated to Series 2014-[—] pursuant to Section 4.3(b) for all Dates of
Processing during any portion of the Monthly Period on and after the commencement of the Early Amortization Period. 

  

					
		 	10	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Investor Uncovered Dilution Amount” means, for any Monthly Period, an amount
equal to the product of (a) the Series Allocation Percentage for such Monthly Period and (b) the aggregate Dilutions occurring during such Monthly Period as to which any deposit is required to be made but has not been made; provided that,
if the Free Equity Amount is greater than zero at the time the deposit referred to in clause (b) is required to be made, the Investor Uncovered Dilution Amount shall be deemed to be zero. 

“Issuer” is defined in the preamble. 

“Lender Group Agent” means, with respect to any Class A Lender, the Person identified in the Class A Loan Agreement
as the “Lender Group Agent” for such Class A Lender and, with respect to any Class B Lender, the Person identified in the Class B Loan Agreement as the “Lender Group Agent” for such Class B Lender. 

“LIBOR” means, for any Interest Period, the London interbank offered rate for the period of the Designated Maturity for
United States dollar deposits determined by the Indenture Trustee for each Interest Period in accordance with the provisions of Section 4.11. 

“LIBOR Determination Date” means the second London Business Day prior to the commencement of each Interest Period;
provided that, in the case of (x) the initial Interest Period for any Advance that does not occur on a Payment Date or (y) any portion of an Interest Period for any Lender Interest that begins to accrue interest by reference to
LIBOR other than on the first day of such Interest Period, the Issuer and the applicable Lender Group Agent may select a different LIBOR Determination Date and the Issuer shall notify the Indenture Trustee of the applicable LIBOR Determination Date
on or prior to the applicable LIBOR Determination Date. 
 “Loan Agreement” means the Class A Loan Agreement or the
Class B Loan Agreement. 
 “London Business Day” means any day on which dealings in deposits in United States dollars are
transacted in the London interbank market. 
 “Minimum Free Equity Percentage” means, for purposes of Series 2014-[—], 1.0%. 
 “Monthly Interest” means, for any Payment Date, the sum of the
Class A Monthly Interest and the Class B Monthly Interest for such Payment Date. 
 “Monthly Period” means, as to each
Payment Date, the period beginning on the 22nd day of the second preceding calendar month and ending on the 21st day of the immediately
preceding calendar month. 
 “Monthly Principal” means, on any Payment Date, the sum of the Class A Monthly Principal
and the Class B Monthly Principal for such Payment Date. 

  

					
		 	11	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Monthly Principal Reallocation Amount” means, for any Transfer Date, an amount
equal to the sum of: 
 (a) the lesser of (i) the Class A Required Amount for the related Payment Date and (ii) (x) the
sum of the Class B Note Principal Balance and the Initial Excess Collateral Amount minus (y) the sum of (I) the amount of unreimbursed Investor Charge-Offs (after giving effect to Investor Charge-Offs for the related Monthly Period)
and unreimbursed Reallocated Principal Collections (as of the previous Payment Date) and (II) any reductions to the Collateral Amount pursuant to Section 4.4(f), but not less than zero; and 

(b) the lesser of (i) the Class B Required Amount for the related Payment Date and (ii) (x) the Initial Excess Collateral
Amount minus (y) the sum of (I) the amount of unreimbursed Investor Charge-Offs (after giving effect to Investor Charge-Offs for the related Monthly Period) and unreimbursed Reallocated Principal Collections (as of the previous
Payment Date and as required in clause (a) above) and (II) any reductions to the Collateral Amount pursuant to Section 4.4(f), but not less than zero. 

“Monthly Statement” is defined in Section 5.2(a). 

“Non-Use Fees” means, for any date of determination, the sum of (x) the Class A Non-Use Fee and (y) the Class
B Non-Use Fee. 
 “Note Principal Balance” means, on any date of determination, an amount equal to the sum of the
Class A Note Principal Balance and the Class B Note Principal Balance for such date of determination. 
 “Noteholder Servicing
Fee” means, for any Transfer Date, an amount equal to one-twelfth of the product of (a) the Series Servicing Fee Percentage and (b) the Collateral Amount as of the last day of the Monthly Period preceding such Transfer Date;
provided however, that with respect to the [—] 2014 Transfer Date, the Noteholder Servicing Fee shall be calculated based on the Collateral Amount as of the Closing Date and shall be pro-rated for
the number of days in the period beginning on the Closing Date and ending on [—] 21, 2014. 

“Numerator Reset Date” means any Advance Date or Optional Amortization Date. 

“Optional Amortization” is defined in Section 2.2(b). 

“Optional Amortization Amount” is defined in Section 2.2(b). 

“Optional Amortization Date” is defined in Section 2.2(b). 

“Optional Amortization Notice” is defined in Section 2.2(c). 

“Payment Date” means [—] [15], 2014 and the 15th day of each calendar month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 

“Principal Account” means the account designated as such, established and owned by the Issuer and maintained in accordance
with Section 4.2. 
 “Principal Shortfall” is defined in Section 4.9. 

  

					
		 	12	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Reallocated Principal Collections” means, for any Transfer Date, Principal
Collections allocated to Series 2014-[—] Noteholders that are applied in accordance with Section 4.7 in an amount not to exceed the Monthly Principal Reallocation Amount for such
Transfer Date. 
 “Record Date” means, for purposes of Series 2014-[—],
(a) with respect to a Payment Date, unless specified in the following clause (b), the close of business on the last Business Day of the calendar month immediately preceding such Payment Date and (b) with respect to a Payment Date or
other special payment date following the receipt of damages from the FDIC, the close of business on the Business Day immediately preceding such Payment Date or other special payment date. 

“Redemption Price” means, for any Transfer Date, after giving effect to any deposits and payments otherwise to be made on the
related Payment Date, the sum of (i) the Note Principal Balance on the related Payment Date, (ii) Monthly Interest for the related Payment Date and any Monthly Interest previously due but not paid to the Series 2014-[—] Noteholders, (iii) the amount of Non-Use Fees, if any, for the related Payment Date and any Non-Use Fees previously due but not distributed to the Series 2014-[—] Noteholders on any prior Payment Date and (iv) the amount of Reimbursement Amounts, if any, for the related Payment Date and any Reimbursement Amounts previously due but not paid to the Series
2014-[—] Noteholders on any prior Payment Date. 
 “Reference Banks”
means four major banks in the London interbank market selected by the Servicer. 
 “Reimbursement Amounts” means, for any
date of determination, the sum of (x) the Class A Reimbursement Amounts and (y) the Class B Reimbursement Amounts. 

“Removal Date” means a “Removal Date” as such term is defined in the Transfer Agreement. 

“Required Class B Note Principal Balance” is defined in the Class A Loan Agreement. 

“Required Deposit Amount” means, with respect to Series 2014-[—], for any
Monthly Period, the sum of (a) the Required Finance Charge Deposit Amount for such Monthly Period as most recently determined, (b) the Required Principal Deposit Amount for such Monthly Period as most recently determined and (c) if
there is any outstanding Optional Amortization Amount, the amount of any outstanding Optional Amortization Amount over the amount deposited to the Collection Account with respect to such Optional Amortization Amount. 

“Required Excess Collateral Amount” means, at any time, the product of
(i) [—].00% times (ii) the quotient of (x) the Note Principal Balance divided by (y) [—].00%; provided that: 

(a) except as provided in clause (c), the Required Excess Collateral Amount shall never be less than 3.00% of the Collateral Amount as of the
last day of the Revolving Period; 
 (b) except as provided in clause (c), the Required Excess Collateral Amount shall not decrease during
an Early Amortization Period; and 

  

					
		 	13	 	Indenture Supplement
		 		 	Series 2014-[—]

 (c) the Required Excess Collateral Amount shall never be greater than the Note Principal Balance.

 “Required Finance Charge Deposit Amount” means, with respect to Series
2014-[—], for any Monthly Period, the sum of (a) the fees payable to the Indenture Trustee, the Trustee and the Administrator on the related Payment Date, (b) the Monthly Interest on the
related Payment Date, pursuant to Section 4.4, (c) the Noteholder Servicing Fee, (d) the Non-Use Fees, if any, payable on the related Payment Date (but only to the extent that such Non-Use Fees are not reasonably expected to be
paid by the Transferor on or prior to such Payment Date or any Non-Use Fees remain unpaid for any prior Payment Date), (e) the Reimbursement Amounts, if any, payable on the related Payment Date, (f) the amount, if any, described in
Section 4.4(a)(vii) for the related Payment Date and (g) if on such Date of Processing the Free Equity Amount is less than the Minimum Free Equity Amount after giving effect to all transfers and deposits on that Date of Processing,
the Investor Default Amount. To the extent any data needed to calculate the Required Finance Charge Deposit Amount is not available on any Date of Processing, the Issuer shall use the corresponding data as most recently determined or other
reasonable estimate of such data until the required data is available (which shall be no later than the Transfer Date in the following Monthly Period). Without limiting the foregoing, (x) for purposes of determining the Monthly Interest on any
Date of Processing on which the applicable LIBOR or CP Rate, as applicable, has not been determined, the applicable LIBOR or CP Rate, as applicable, shall be estimated based on the assumption that LIBOR or the CP Rate, as applicable, will equal
LIBOR as determined on the LIBOR Determination Date for the current Interest Period and the CP Rate as determined for the prior Interest Period (to the extent such rate was determined for the prior Interest Period), multiplied by 1.25 and
(y) for purposes of determining the Investor Default Amount on any Date of Processing, the Investor Default Amount shall be estimated based on the assumption that the Investor Default Amount for the current Monthly Period will equal the
Investor Default Amount for the prior Monthly Period multiplied by 1.25. 
 “Required Principal Deposit Amount” means, with
respect to Series 2014-[—], for any Monthly Period, an amount equal to (a) during the Revolving Period, zero, (b) during the Controlled Amortization Period, the Controlled Payment Amount
for the related Payment Date, and (c) during the Early Amortization Period, the Note Principal Balance. 
 “Reset
Date” means: 
 (a) each Addition Date; 

(b) each Removal Date on which Accounts are designated for removal pursuant to Section 2.7(a) or (b) of the Transfer Agreement; 

(c) each date on which there is an increase in the outstanding balance of any Variable Interest, including any Advance for Series 2014-[—]; and 
 (d) each date on which a new Series or Class of Notes is issued. 

“Revolving Period” means the period beginning on the Closing Date and ending at the close of business on the day immediately
preceding the earlier of the day the Controlled Amortization Period commences or the day the Early Amortization Period commences. 

  

					
		 	14	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Scheduled Controlled Amortization Period Length” means the number of Monthly
Periods in the period beginning on the Controlled Amortization Date and ending on the last day of the Monthly Period preceding the Scheduled Final Payment Date. 

“Scheduled Final Payment Date” means the Payment Date falling in [—] 20[—]. 
 “Series Accounts” is defined in Section 4.2. 

“Series Allocation Percentage” means, (a) with respect to any date of determination, the percentage equivalent of a
fraction, the numerator of which is the numerator used in determining the Allocation Percentage for Finance Charge Collections for such date of determination and the denominator of which is the sum of the numerators used in determining the
Allocation Percentage for Finance Charge Collections for all outstanding Series on such date of determination and (b) with respect to any Monthly Period, the daily average of the Series Allocation Percentage for all dates during such Monthly
Period. 
 “Series Maturity Date” means, with respect to Series
2014-[—], the [—] 20[—] Payment Date. 

“Series Servicing Fee Percentage” means 2% per annum. 

“Series 2014-[—]” means the Series of Notes the terms of which are
specified in this Indenture Supplement. 
 “Series 2014-[—] Early Amortization
Event” is defined in Section 6.1. 
 “Series 2014-[—]
Excess Finance Charge Collections” means Excess Finance Charge Collections allocated from other Series in Group One to Series 2014-[—] pursuant to Section 8.6 of the Indenture. 

“Series 2014-[—] Note” means a Class A Note or a Class B Note. 

“Series 2014-[—] Noteholder” means a Class A Noteholder or a Class B
Noteholder. 
 “Step-Down Date” means the first day of the first Monthly Period occurring after the last day of the
Revolving Period during which the Note Principal Balance (after giving effect to any payment of principal to be made on the Payment Date occurring during such Monthly Period) is first reduced to an amount equal to or less than 50.0% of the Note
Principal Balance as of the last day of the Revolving Period. 
 “Surplus Collateral Amount” means, with respect to any
Payment Date, at any time, the excess, if any, of the Excess Collateral Amount over the Required Excess Collateral Amount, in each case, calculated after giving effect to any payments of principal on such Payment Date and any reductions for
Enhancement Reduction Amounts, but before giving effect to any reduction in the Collateral Amount on such Payment Date pursuant to Section 4.4(f). 

“Three-Month Average Excess Spread Percentage” shall mean, as of any Payment Date, the average of the Excess Spread
Percentages for the three most recently ended Monthly Periods. 

  

					
		 	15	 	Indenture Supplement
		 		 	Series 2014-[—]

 “Weighted Average Collateral Amount” means, with respect to any Monthly Period
and each Series of Notes, the quotient of (a) the summation of the Collateral Amount determined as of each day in such Monthly Period divided by (b) the number of days in such Monthly Period. 

SECTION 1.2. Incorporation of Terms. The terms of the Indenture are incorporated in this Supplement as if set forth in full herein. As
supplemented by this Indenture Supplement, the Indenture is in all respects ratified and confirmed and both together shall be read, taken and construed as one and the same agreement. If the terms of this Indenture Supplement and the terms of the
Indenture conflict, the terms of this Indenture Supplement shall control with respect to the Series 2014-[—]. 

ARTICLE II 
 CREATION OF
THE SERIES 2014-[—] NOTES 
 SECTION 2.1. Designation. 

(a) There is hereby created and designated a Series of Notes to be issued pursuant to the Indenture and this Indenture Supplement to be known
as “GE Sales Finance Master Trust, Series 2014-[—]” or the “Series 2014-[—] Notes.” The Series 2014-[—] Notes shall be issued in two Classes, known as the “Class A Series 2014-[—] Floating Rate Notes” and the “Class B Series
2014-[—] Floating Rate Notes.” Series 2014-[—] shall be a Variable Interest. 

(b) The Class A Notes may from time to time evidence separate “Lender Interests” under and as defined in the Class A Loan
Agreement (each a “Class A Lender Interest”) which shall be identical in all respects, except for their respective maximum principal balances, the respective amounts of the Class A Note Principal Balance allocated to each
Class A Lender Interest and certain matters relating to the rate and payment of interest. The initial allocation of Class A Notes among Class A Lender Interests shall be made, and reallocations among such Class A Lender Interests
or new Class A Lender Interests may be made, as provided in the Class A Loan Agreement. The Class B Notes may from time to time evidence separate “Lender Interests” under and as defined in the Class B Loan Agreement (each a
“Class B Lender Interest”) which shall be identical in all respects, except for their respective maximum principal balances and the respective amounts of the Class B Note Principal Balance allocated to each Class B Lender Interest.
The initial allocation of Class B Notes among Class B Lender Interests shall be made, and reallocations among such Class B Lender Interests or new Class B Lender Interests may be made, as provided in the Class B Loan Agreement. 

(c) Series 2014-[—] shall be included in Group One and shall be a Principal Sharing
Series. Series 2014-[—] shall be an Excess Allocation Series with respect to Group One only. Series 2014-[—] shall not be subordinated to any
other Series. 
 SECTION 2.2. Advances and Optional Amortizations. 

(a) On any Business Day during the Revolving Period, the Issuer may in its discretion, but subject to the satisfaction of the conditions
precedent specified in each Loan Agreement request the Series 2014-[—] Noteholders to make Advances, which shall be allocated among the Class A Notes and the Class B Notes, based on the
Class A Pro Rata Percentage and the Class B Pro Rata Percentage, respectively. Automatically upon the funding to the Issuer of 

  

					
		 	16	 	Indenture Supplement
		 		 	Series 2014-[—]

 
the aggregate Advance Amounts, the Collateral Amount shall increase by the amount of the Advance Amount, plus such additional amount (an “Additional Enhancement Amount”) as may
be necessary so that, after giving effect to the Advance, the Excess Collateral Amount would not be less than the Required Excess Collateral Amount. 

(b) Subject to Section 2.2(c), on any Business Day in the Revolving Period or the Controlled Amortization Period, the Issuer may,
in its discretion but subject to the conditions precedent in the Class A Loan Agreement and Class B Loan Agreement, cause a full or partial amortization (an “Optional Amortization”) of the Class A Notes and the Class B
Notes (such date, an “Optional Amortization Date”) with any unrestricted funds of the Issuer or the Transferor that are designated (in their sole discretion) to make such amortization (“Additional Funds”) and, to
the extent necessary, Available Principal Collections in an amount (the “Optional Amortization Amount”) specified in the Optional Amortization Notice delivered pursuant to Section 2.2(c); provided, that the Issuer
shall not designate an Optional Amortization Date for any Business Day on which there would not be sufficient Shared Principal Collections to cover all “Principal Shortfalls” (as defined in the respective indenture supplements) for all
outstanding Series of Notes in Amortization Periods (excluding any such “Principal Shortfall” relating to an optional amortization amount for such Series) unless the Issuer elects to use (in its sole discretion) only Additional Funds to
pay all of such Optional Amortization Amount. The Optional Amortization Amount shall be allocated among the Class A Notes and the Class B Notes, based on the Class A Pro Rata Percentage and the Class B Pro Rata Percentage,
respectively. Automatically upon the payment of any Optional Amortization Amount, the Collateral Amount shall decrease by an amount equal to the sum of (i) the related Optional Amortization Amount, and (ii) an additional amount specified
in the Optional Amortization Notice (an “Enhancement Reduction Amount”) so long as, after giving effect to such reduction, the Excess Collateral Amount would not be less than the Required Excess Collateral Amount. 

(c) Not later than 12:00 noon (New York City time) on the second Business Day preceding an Optional Amortization Date, the Issuer shall
deliver to the Trustee, the Indenture Trustee, and each Series 2014-[—] Noteholder a written notice of optional amortization substantially in the form of Exhibit C (an “Optional
Amortization Notice”) designating the Optional Amortization Amount, the Optional Amortization Date and the Enhancement Reduction Amount. 

ARTICLE III 

REPRESENTATIONS, WARRANTIES AND COVENANTS 

SECTION 3.1. Representations, Warranties and Covenants with respect to Receivables. The parties hereto agree that the representations,
warranties and covenants set forth in Schedule I shall be a part of this Indenture Supplement for all purposes. 
 SECTION 3.2.
Consent to Reduction in Periodic Finance Charges and Other Fees. To the extent the Issuer has the right to withhold its consent to any reduction in the periodic finance charges assessed on the Principal Receivables or other fees on the
Accounts, the Issuer hereby covenants to withhold such consent if the Issuer reasonably expects the Three-Month Average Excess Spread Percentage to be less than zero and to notify the Transferor thereof. 

  

					
		 	17	 	Indenture Supplement
		 		 	Series 2014-[—]

 ARTICLE IV 

RIGHTS OF SERIES 2014-[—] NOTEHOLDERS 

AND ALLOCATION AND APPLICATION OF COLLECTIONS 

SECTION 4.1. Determination of Interest and Principal. 

(a) The amount of monthly interest (“Class A Monthly Interest”) due and payable with respect to the Class A Notes on any
Payment Date shall be equal to the aggregate amount of interest accrued on each Class A Funding Tranche on each day during the related Interest Period (plus any underpayment of interest on the prior Payment Date as a result of the
estimation referred to below and minus any overpayment of interest on the prior Payment Date as a result of the estimation referred to below). For purposes of such determination, the Issuer shall rely upon information provided by the various
Lender Group Agents on behalf of the related Class A Noteholders pursuant to the Class A Loan Agreement including estimates of the interest to accrue on any Class A Funding Tranche through the related Payment Date. The interest
accrued on each Class A Funding Tranche shall be computed for each day as the product of (i) 1/360, (ii) the Class A Note Interest Rate in effect for such Class A Funding Tranche on such day and (iii) the portion of the
Class A Note Principal Balance included in such Class A Funding Tranche as of the close of business on such day. 
 In addition to
Class A Monthly Interest, each Class A Noteholder shall be entitled to receive a Class A Non-Use Fee with respect to each Interest Period (or portion thereof) occurring prior to the last day of the Revolving Period. 

With respect to each Payment Date, the Issuer shall determine the excess, if any (the “Class A Deficiency Amount”), of
(x) the aggregate amount of Class A Monthly Interest payable pursuant to this Section 4.1(a) as of the prior Payment Date over (y) the amount of Class A Monthly Interest actually paid on such Payment Date. If
the Class A Deficiency Amount for any Payment Date is greater than zero, on each subsequent Payment Date until such Class A Deficiency Amount is fully paid, an additional amount (“Class A Additional Interest”) equal to the
product of (i) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, (ii) the Default Rate and (iii) such Class A Deficiency Amount (or the portion
thereof which has not been paid to the Class A Noteholders) shall be payable as provided herein with respect to the Class A Notes. Notwithstanding anything to the contrary herein, Class A Additional Interest shall be payable or
distributed to the Class A Noteholders only to the extent permitted by applicable law. 
 (b) The amount of monthly interest
(“Class B Monthly Interest”) due and payable with respect to the Class B Notes on any Payment Date shall be equal to the aggregate amount of interest accrued on each Class B Funding Tranche on each day during the related Interest
Period (plus any underpayment of interest on the prior Payment Date as a result of the estimation referred to below and minus any overpayment of interest on the prior Payment Date as a result of the estimation referred to below). For purposes of
such determination, the Issuer shall rely upon information provided by the various Lender Group Agents on behalf of the related Class B Noteholders pursuant to the Class B Loan Agreement including estimates of the interest to accrue on any Class B
Funding Tranche through the related Payment Date. The interest accrued on each Class B Funding Tranche shall be computed for each day as the product of (i) 1/360, 

  

					
		 	18	 	Indenture Supplement
		 		 	Series 2014-[—]

 
(ii) the Class B Note Interest Rate in effect for such Class B Funding Tranche on such day and (iii) the portion of the Class B Note Principal Balance included in such Class B Funding
Tranche as of the close of business on such day. 
 With respect to each Payment Date, the Issuer shall determine the excess, if any (the
“Class B Deficiency Amount”), of (x) the aggregate amount of Class B Monthly Interest payable pursuant to this Section 4.1(b) as of the prior Payment Date over (y) the amount of Class B Monthly Interest
actually paid on such Payment Date. If the Class B Deficiency Amount for any Payment Date is greater than zero, on each subsequent Payment Date until such Class B Deficiency Amount is fully paid, an additional amount (“Class B Additional
Interest”) equal to the product of (i) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, (ii) the Default Rate and (iii) such Class B
Deficiency Amount (or the portion thereof which has not been paid to the Class B Noteholders) shall be payable as provided herein with respect to the Class B Notes. Notwithstanding anything to the contrary herein, Class B Additional Interest shall
be payable or distributed to the Class B Noteholders only to the extent permitted by applicable law. 
 In addition to Class B Monthly
Interest, each Class B Noteholder shall be entitled to receive a Class B Non-Use Fee with respect to each Interest Period (or portion thereof) occurring prior to the last day of the Revolving Period. 

(c) The amount of monthly principal (“Class A Monthly Principal”) with respect to the Class A Notes (i) on or prior
to each Payment Date, beginning with the Payment Date in the Monthly Period following the Monthly Period in which the Early Amortization Period begins, shall be equal to the least of (x) the Available Principal Collections on deposit in the
Principal Account with respect to the related Monthly Period, (y) the Class A Note Principal Balance on such Payment Date and (z) the Collateral Amount (after taking into account any adjustments to be made on or prior to such Payment
Date pursuant to Sections 4.4(a)(vii), 4.6 and 4.7) or (ii) on or prior to each Payment Date, beginning with the Payment Date in the Monthly Period following the Monthly Period in which the Controlled Amortization Period
begins (unless an Early Amortization Period shall have commenced prior to such Payment Date) shall be equal to the least of (w) the Class A Pro Rata Percentage of Available Principal Collections on deposit in the Principal Account with
respect to the related Monthly Period, (x) the Class A Pro Rata Percentage of the Controlled Payment Amount for such Payment Date, (y) the Class A Note Principal Balance on such Payment Date and (z) the Collateral Amount
(after taking into account any adjustments to be made on such Payment Date pursuant to Sections 4.4(a)(vii), 4.6 and 4.7). 

(d) The amount of monthly principal (“Class B Monthly Principal”) with respect to the Class B Notes (i) on or prior to
each Payment Date, beginning with the Payment Date in the Monthly Period following the Monthly Period in which the Early Amortization Period begins shall be equal to the least of (x) the excess of the Available Principal Collections on deposit
in the Principal Account with respect to the related Monthly Period, over the portion of such Available Principal Collections applied to Class A Monthly Principal on such Payment Date, (y) the Class B Note Principal Balance on such Payment
Date and (z) the Collateral Amount (after taking into account any adjustments to be made on such Payment Date pursuant to Sections 4.4(a)(vii), 4.6 and 4.7, and after subtracting the Class A Monthly Principal to be
paid on such Payment Date) or (ii) on or prior to each Payment Date, beginning with the Payment Date in the 

  

					
		 	19	 	Indenture Supplement
		 		 	Series 2014-[—]

 
Monthly Period following the Monthly Period in which the Controlled Amortization Period begins (unless an Early Amortization Period shall have commenced prior to such Payment Date) shall be equal
to the least of (w) the Class B Pro Rata Percentage of Available Principal Collections on deposit in the Principal Account with respect to the related Monthly Period, (x) the Class B Pro Rata Percentage of the Controlled Payment Amount for
such Payment Date, (y) the Class B Note Principal Balance on such Payment Date and (z) the Collateral Amount (after taking into account any adjustments to be made on such Payment Date pursuant to Sections 4.4(a)(vii), 4.6 and
4.7 and after subtracting the Class A Monthly Principal to be paid on such Payment Date). 
 (e) Notwithstanding anything to the
contrary in this Indenture Supplement or any Loan Agreement, in the case of any Advance, the portion of Monthly Interest accrued in respect of the Advance Amount during the Interest Period in which such Advance occurs will be payable on an initial
Payment Date agreed between the Issuer and the related Lender Group Agents, and the Issuer shall notify the Indenture Trustee of the initial Payment Date and the length of the initial Interest Period for such Advance on or prior to the related
Advance Date. 
 SECTION 4.2. Establishment of Accounts. 

(a) As of the Closing Date, the Issuer covenants to have established and shall thereafter maintain the Finance Charge Account, the Principal
Account and the Distribution Account (collectively, the “Series Accounts”) each of which shall be an Eligible Deposit Account. 

(b) If the depositary institution wishes to resign as depositary of any of the Series Accounts for any reason or fails to carry out the
instructions of the Issuer for any reason, then the Issuer shall promptly notify the Indenture Trustee on behalf of the Noteholders. 
 (c)
On or before the Closing Date, the Issuer shall enter into a depositary agreement to govern the Series Accounts pursuant to which such accounts are continuously identified in the depositary institution’s books and records as subject to a
security interest in favor of the Indenture Trustee on behalf of the Noteholders and, except as may be expressly provided herein to the contrary, in order to perfect the security interest of the Indenture Trustee on behalf of the Noteholders under
the UCC, the Indenture Trustee on behalf of the Noteholders shall have the power to direct disposition of the funds in the Series Accounts without further consent by the Issuer; provided however, that prior to the delivery by the
Indenture Trustee on behalf of the Noteholders of notice otherwise, the Issuer shall have the right to direct the disposition of funds in the Series Accounts; provided further that the Indenture Trustee on behalf of the Noteholders
agrees that it will not deliver such notice or exercise its power to direct disposition of the funds in the Series Accounts unless an Event of Default has occurred and is continuing. 

(d) The Issuer shall not close any of the Series Accounts unless it shall have (i) established a new Eligible Deposit Account with the
depositary institution or with a new depositary institution satisfactory to the Lender Group Agents, (ii) entered into a depositary agreement to govern such new account(s) with such new depositary institution which agreement is satisfactory in
all respects to the Lender Group Agents (whereupon such new account(s) shall become the applicable Series Account(s) for all purposes of this Indenture Supplement), and (iii) taken all such action as the Lender Group Agents shall reasonably
require to grant and perfect a first priority security interest in such account(s) under this Indenture Supplement. 

  

					
		 	20	 	Indenture Supplement
		 		 	Series 2014-[—]

 SECTION 4.3. Calculations and Series Allocations. 

(a) Allocations of Finance Charge Collections. On each Date of Processing, the Issuer shall allocate to the Noteholders of Series 2014-[—] an amount equal to the product of (A) the Allocation Percentage and (B) the aggregate Finance Charge Collections processed on such Date of Processing. At or prior to 12:00 noon, New York
City time, on each Transfer Date, the Issuer shall transfer from the Collection Account to the Finance Charge Account, an amount equal to the lesser of the Available Finance Charge Collections for the preceding Monthly Period and the Required
Finance Charge Deposit Amount for the preceding Monthly Period (excluding any portion of the Required Finance Charge Deposit Amount described in clauses (f) and (g) of the definition of Required Finance Charge Deposit Amount). 

(b) Allocations of Principal Collections. On each Date of Processing, the Issuer shall allocate to the Noteholders of Series 2014-[—] an amount equal to the product of (A) the Allocation Percentage and (B) the aggregate amount of Principal Collections processed on such Date of Processing. Principal Collections allocated to
Series 2014-[—] during any Monthly Period in excess of the Investor Principal Collections shall be (i) first, if any Optional Amortization Amounts are outstanding (after giving effect to the
deposit of any Additional Funds), deposited in the Principal Account for application, to the extent necessary, to the payment of such Optional Amortization Amounts, and (ii) second, applied as Shared Principal Collections. At or prior to 12:00
noon, New York City time, on each Transfer Date, the Issuer shall transfer from the Collection Account to the Principal Account, an amount equal to the Available Principal Collections to the extent such funds have not been deposited into the
Principal Account pursuant to Section 4.4(a) or any other provision of this Agreement. 
 (c) Calculations and Additional
Deposits on Transfer Date. Notwithstanding the provisions of Section 8.4(a) of the Indenture allowing Collections for any Monthly Period in excess of the Aggregate Required Deposit Amount for such Monthly Period to be distributed to the
Holder, Collections of Finance Charge Receivables allocated to the Series issued pursuant to this Indenture Supplement during that Monthly Period that were released to the Holder pursuant to Section 8.4(a) of the Indenture shall be deemed, for
purposes of all calculations under this Indenture Supplement, to have been applied as Available Finance Charge Collections to the items specified in Section 4.4(a) to which such amounts would have been applied (and in the priority in
which they would have been applied) had such amounts been available in the Collection Account on the related Payment Date. To avoid doubt, the calculations referred to in the preceding sentence include the calculations required by clause
(b)(iii) of the definition of Collateral Amount. 
 (d) Notwithstanding anything to the contrary contained in the Agreement,
(i) funds required to be deposited into the Finance Charge Account or Principal Account pursuant to this Indenture Supplement that would be subsequently transferred to the Distribution Account may instead be directly deposited to the
Distribution Account, and (ii) any funds required to be deposited into the Finance Charge Account or Principal Account pursuant to this Indenture Supplement that would be subsequently transferred to the Issuer or the Holder shall not be
required to be transferred to any Series Account and may be directly paid to the Issuer or the Holder pursuant to the priority of payments set forth in this Indenture Supplement. 

  

					
		 	21	 	Indenture Supplement
		 		 	Series 2014-[—]

 SECTION 4.4. Application of Available Finance Charge Collections and Available Principal
Collections. On or prior to each Transfer Date or related Payment Date, as applicable, the Issuer shall withdraw, to the extent of available funds, the amount required to be withdrawn from the Finance Charge Account, the Principal Account and
the Distribution Account as follows: 
 (a) On or prior to each Payment Date, an amount equal to the Available Finance Charge Collections
with respect to the related Monthly Period will be paid or deposited in the following priority from funds on deposit in the Finance Charge Account: 

(i) on a pari passu basis (A) to the extent not otherwise paid by the Transferor, an amount sufficient to pay the accrued
and unpaid fees and other amounts owed to the Trustee, to the extent allocated to Series 2014-[—], up to a maximum amount of $25,000 for each calendar year, shall be deposited to the Distribution
Account and (B) an amount equal to the Noteholder Servicing Fee for such Transfer Date, plus the amount of any Noteholder Servicing Fee previously due but not paid to the Servicer on a prior Transfer Date, shall be deposited to the
Distribution Account; 
 (ii) an amount equal to Class A Monthly Interest for such Payment Date, plus any
Class A Deficiency Amount, plus the amount of any Class A Additional Interest for such Payment Date, plus the amount of any Class A Additional Interest previously due but not paid to Class A Noteholders on a prior
Payment Date, shall be deposited to the Distribution Account; 
 (iii) to the extent not otherwise paid by or on behalf of
the Transferor, an amount sufficient to pay the unpaid Class A Non-Use Fee, if any, for the related Interest Period plus any Class A Non-Use Fee due but not paid to the Class A Noteholders on any prior Payment Date shall be
deposited to the Distribution Account; 
 (iv) an amount equal to Class B Monthly Interest for such Payment Date, plus
any Class B Deficiency Amount, plus the amount of any Class B Additional Interest for such Payment Date, plus the amount of any Class B Additional Interest previously due but not paid to Class B Noteholders on a prior Payment Date,
shall be deposited to the Distribution Account; 
 (v) to the extent not otherwise paid by or on behalf of the Transferor, an
amount sufficient to pay the unpaid Class B Non-Use Fee, if any, for the related Interest Period plus any Class B Non-Use Fee due but not paid to the Class B Noteholders on any prior Payment Date shall be deposited to the Distribution
Account; 
 (vi) (A) first, an amount equal to the Investor Default Amount for such Payment Date shall be treated
as a portion of Available Principal Collections for such Payment Date and (B) second, an amount equal to any Investor Uncovered Dilution Amount for such Payment Date shall be treated as a portion of Available Principal Collections for
such Payment Date, and any amounts treated as Available Principal 

  

					
		 	
 22
	 	 Indenture Supplement

Series 2014-[—]

 
Collections pursuant to subclause (A) or (B) of this clause (vi) during the Controlled Amortization Period or the Early Amortization Period, shall be deposited
into the Principal Account on the related Payment Date; 
 (vii) an amount equal to the sum of the aggregate amount of
Investor Charge-Offs and the amount of Reallocated Principal Collections which have not been previously reimbursed pursuant to this Section 4.4(a)(vii) shall be treated as a portion of Available Principal Collections for such Payment
Date and, during the Controlled Amortization Period or Early Amortization Period, shall be deposited into the Principal Account on such Payment Date; 

(viii) [reserved]; 

(ix) an amount sufficient to pay the aggregate Class A Reimbursement Amounts, if any, for the related Interest Period,
plus any Class A Reimbursement Amounts due but not paid to the Class A Noteholders on any prior Payment Date shall be deposited to the Distribution Account; 

(x) an amount sufficient to pay the aggregate Class B Reimbursement Amounts, if any, for the related Interest Period,
plus any Class B Reimbursement Amounts due but not paid to the Class B Noteholders on any prior Payment Date shall be deposited to the Distribution Account; 

(xi) the balance, if any, will constitute a portion of Excess Finance Charge Collections for such Payment Date and will be
applied in accordance with Section 8.6 of the Indenture; provided that during an Early Amortization Period, if any such Excess Finance Charge Collections would be distributed to the Holder in accordance with
Section 8.6 of the Indenture, the portion of such Excess Finance Charge Collections that would otherwise be distributable to the Holder, first shall be used to pay Monthly Principal pursuant to Section 4.4(c) to the
extent not paid in full from Available Principal Collections (calculated without regard to amounts available to be treated as Available Principal Collections pursuant to this clause (xi)), and second, any amounts remaining after
payment in full of the Monthly Principal shall be distributed to the Holder. 
 (b) On or prior to each Payment Date with respect to the
Revolving Period that is an Optional Amortization Date, an amount equal to the Available Principal Collections for the related Monthly Period shall be withdrawn from the Principal Account and, together with any Additional Funds, shall be deposited
into the Distribution Account and applied as follows: (i) an amount equal to the Optional Amortization Amount shall be paid to the Class A Noteholders and the Class B Noteholders as specified in Section 2.2(b), and
(ii) any remaining Available Principal Collections shall be treated as Shared Principal Collections and applied in accordance with Section 8.5 of the Indenture. 

(c) On or prior to each Payment Date, with respect to the Controlled Amortization Period or the Early Amortization Period, an amount equal to
the Available Principal Collections for the related Monthly Period together with any Additional Funds shall be paid or deposited in the following order of priority from funds on deposit in the Principal Account: 

  

					
		 	
 23
	 	 Indenture Supplement

Series 2014-[—]

 (i) an amount equal to the Class A Monthly Principal for such Payment Date
shall be deposited into the Distribution Account and on such Payment Date shall be paid to the Class A Noteholders until the Class A Note Principal Balance has been paid in full; 

(ii) an amount equal to the Class B Monthly Principal for such Payment Date shall be deposited into the Distribution Account
and on such Payment Date shall be paid to the Class B Noteholders until the Class B Note Principal Balance has been paid in full; 

(iii) an amount equal to the Optional Amortization Amount, if any, for such Payment Date shall be deposited into the
Distribution Account and on such Payment Date shall be paid to the Class A Noteholders and the Class B Noteholders as specified in Section 2.2(b); and 

(iv) the balance of such Available Principal Collections remaining after application in accordance with clauses
(i) through (iii) above shall be treated as Shared Principal Collections and applied in accordance with Section 8.5 of the Indenture. 

(d) On each Payment Date, the Issuer shall pay from the Distribution Account (i) on a pari passu basis, the amount deposited pursuant to
clauses (A) and (B) of Section 4.4(a)(i) to the Trustee and the Servicer, as applicable, and (ii) in accordance with Section 4.5 to the Class A Noteholders from the Distribution Account, the amounts deposited
into the Distribution Account pursuant to Section 4.4(a)(ii) on such Payment Date and to the Class B Noteholders, the amounts deposited into the Distribution Account pursuant to Section 4.4(a)(iv) on such Payment Date. 

(e) The Issuer shall pay out of amounts deposited into the Distribution Account pursuant to Sections 4.4(a)(iii), (v),
(ix), and (x) to the Class A Noteholders and the Class B Noteholders, as applicable, in the following order of priority, (i) the Class A Non-Use Fee, (ii) the Class B Non-Use Fee, (iii) the Class A
Reimbursement Amounts and (iv) the Class B Reimbursement Amounts. 
 (f) As of any Payment Date during the Controlled Amortization
Period or Early Amortization Period on which Principal Collections allocated to Series 2014-[—] are treated as Shared Principal Collections, the Collateral Amount shall be reduced by an amount
equal to the lesser of (x) the amount of Principal Collections allocated to Series 2014-[—] that are applied as Shared Principal Collections and (y) the Surplus Collateral Amount. 

(g) On each Optional Amortization Date that is not a Payment Date, Additional Funds and Available Principal Collections in the amount of the
Optional Amortization Amount shall be deposited into the Distribution Account and shall be paid to the Class A Noteholders and the Class B Noteholders ratably in accordance with the allocation of such Optional Amortization Amount among the
Class A Notes and the Class B Notes as specified in Section 2.2(b). 
 SECTION 4.5. Payments. 

(a) On each Payment Date, the Issuer shall pay to each Class A Noteholder of record on the related Record Date such Class A
Noteholder’s pro rata share of the amounts on deposit in the Distribution Account that are allocated and available on such Payment Date and as are payable to the Class A Noteholders pursuant to this Indenture Supplement. 

  

					
		 	
 24
	 	 Indenture Supplement

Series 2014-[—]

 (b) On each Payment Date, the Issuer shall pay to each Class B Noteholder of record on the
related Record Date such Class B Noteholder’s pro rata share of the amounts on deposit in the Distribution Account that are allocated and available on such Payment Date and as are payable to the Class B Noteholders pursuant to this
Indenture Supplement. 
 (c) The payments to be made pursuant to this Section 4.5 are subject to the provisions of
Section 7.1 of this Indenture Supplement. 
 (d) All payments set forth herein shall be made by wire transfer of immediately
available funds, provided that the Issuer, not later than the Record Date relating to any Payment Date, shall have received appropriate wiring instructions in writing from the related Noteholder or Lender Group Agent on behalf of the related
Noteholder. 
 SECTION 4.6. Investor Charge-Offs. If, on any Transfer Date, the sum of the Investor Default Amount and any Investor
Uncovered Dilution Amount for the preceding Monthly Period exceeds the amount of Available Finance Charge Collections allocated with respect thereto pursuant to Section 4.4(a)(vi) with respect to such Transfer Date, the Collateral Amount
will be reduced (but not below zero) by the amount of such excess (such reduction, an “Investor Charge-Off”). 
 SECTION
4.7. Reallocated Principal Collections. On each Transfer Date, if Investor Finance Charge Collections are not sufficient to make the payments set forth in Sections 4.4(a)(i) through (v), the Issuer shall apply Reallocated
Principal Collections with respect to that Transfer Date, to fund such deficiency pursuant to and in the priority set forth in Sections 4.4(a)(i) through (v). On each Transfer Date, the Collateral Amount shall be reduced by the amount
of Reallocated Principal Collections for such Transfer Date. 
 SECTION 4.8. Excess Finance Charge Collections. Series 2014-[—] shall be an Excess Allocation Series with respect to Group One only. Subject to Section 8.6 of the Indenture, Excess Finance Charge Collections with respect to the Excess Allocation Series in
Group One with respect to any Monthly Period will be allocated to Series 2014-[—] in an amount equal to the product of (x) the aggregate amount of Excess Finance Charge Collections with
respect to all the Excess Allocation Series in Group One for such Monthly Period and (y) a fraction, the numerator of which is the Finance Charge Shortfall for Series 2014-[—] for such Monthly
Period and the denominator of which is the aggregate amount of Finance Charge Shortfalls for all the Excess Allocation Series in Group One, in each case with respect to payments to be made on or prior to the Payment Date following such Monthly
Period. The “Finance Charge Shortfall” for Series 2014-[—] for any date on which Excess Finance Charge Collections are allocated pursuant to Section 8.6 of the Indenture will
be equal to the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to Sections 4.4(a)(i) through (x) with respect to the next following Payment Date over (b) the Available Finance
Charge Collections for the next following Payment Date (excluding any portion thereof attributable to Excess Finance Charge Collections). 

  

					
		 	
 25
	 	 Indenture Supplement

Series 2014-[—]

 SECTION 4.9. Shared Principal Collections. Subject to Section 8.5 of the
Indenture, Shared Principal Collections allocable to Series 2014-[—] with respect to any Monthly Period will be equal to the product of (x) the aggregate amount of Shared Principal Collections
with respect to all Principal Sharing Series for such Monthly Period and (y) a fraction, the numerator of which is the Principal Shortfall for Series 2014-[—] for such Monthly Period and the
denominator of which is the aggregate amount of Principal Shortfalls for all the Series which are Principal Sharing Series, in each case with respect to payments to be made on or prior to the Payment Date following such Monthly Period. The
“Principal Shortfall” for Series 2014-[—] for any date on which Shared Principal Collections are allocated pursuant to Section 8.5 of the Indenture will be equal to
(a) for any allocation date with respect to the Revolving Period, if there is no outstanding Optional Amortization Amount, zero, (b) for any allocation date with respect to the Controlled Amortization Period, the excess, if any, of the
Controlled Payment Amount with respect to the next following Payment Date over the amount of Available Principal Collections for the next following Payment Date (excluding any portion thereof attributable to Shared Principal Collections or
amounts available to be treated as Available Principal Collections pursuant to clause (xi) of Section 4.4(a)), and (c) for any allocation date with respect to the Early Amortization Period, the Note Principal
Balance and (d) for any allocation date with respect to the Revolving Period if there is any outstanding Optional Amortization Amount, the amount of any outstanding Optional Amortization Amount, over the amount of Available Principal
Collections for the next following Payment Date (excluding any portion thereof attributable to Shared Principal Collections). 
 SECTION
4.10. Investment of Amounts on Deposit in Series Accounts. 
 (a) To the extent there are uninvested amounts deposited in the Series
Accounts, the Issuer shall cause such amounts to be invested in Permitted Investments selected by the Issuer that mature no later than the following Transfer Date, Funds deposited to any Series Account for payment or transfer on the related Payment
Date shall not be invested. 
 (b) On each Transfer Date, the Investment Earnings, if any, accrued since the preceding Transfer Date on
funds on deposit in the Series Accounts shall be released to the Holder. For purposes of determining the availability of funds or the balance in any Series Account for any reason under this Indenture Supplement, all Investment Earnings shall be
deemed not to be available or on deposit. 
 SECTION 4.11. Determination of LIBOR. 

(a) On each LIBOR Determination Date in respect of an Interest Period, the Indenture Trustee shall determine LIBOR on the basis of the rate per
annum displayed in the Bloomberg Financial Markets system as the composite offered rate for London interbank deposits for a period of the Designated Maturity, as of 11:00 a.m., London time, on that date. If that rate does not appear on that display
page, LIBOR for that Interest Period will be the rate per annum shown on page “LIBOR01” of the Reuters Monitor Money Rates Service or such other page as may replace the LIBOR01 page on that service for the purpose of displaying London
interbank offered rates of major banks as of 11:00 a.m., London time, on the LIBOR Determination Date; provided that if at least two rates appear on that page, the rate will be the arithmetic mean of the displayed rates and if fewer than two
rates are displayed, or if no rate is 

  

					
		 	
 26
	 	 Indenture Supplement

Series 2014-[—]

 
relevant, the rate for that Interest Period shall be determined on the basis of the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00
a.m., London time, on that day to prime banks in the London interbank market for the period of the Designated Maturity. The Indenture Trustee shall request the principal London office of each of the Reference Banks to provide a quotation of its
rate. If at least two (2) such quotations are provided, the rate for that Interest Period shall be the arithmetic mean of the quotations. If fewer than two (2) quotations are provided as requested, the rate for that Interest Period will be
the arithmetic mean of the rates quoted by major banks in New York City, selected by the Servicer, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a period of the
Designated Maturity. 
 (b) The Issuer and each Lender Group Agent may agree that LIBOR for the initial Interest Period for any Advance or
any portion of an Interest Period will be determined based on straight-line interpolation between two rates determined in accordance with Section 4.11(a) for two different Designated Maturities, and if straight-line interpolation is to
be used to determine the applicable LIBOR, the Issuer shall notify the Indenture Trustee of the applicable Designated Maturities on or before the applicable LIBOR Determination Date. 

(c) On each LIBOR Determination Date, the Indenture Trustee shall send to the Issuer by facsimile, email or other electronic transmission,
notification of LIBOR for the following Interest Period. LIBOR used to calculate the Class A Note Interest Rate (if applicable) and the Class B Note Interest Rate (if applicable) for the then current and the immediately preceding Interest
Periods may be obtained by telephoning the Indenture Trustee at its corporate trust office at (800) 735-7777 or such other telephone number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the
Indenture Trustee to each Series 2014-[—] Noteholder from time to time. 
 ARTICLE V

 DELIVERY OF SERIES 2014-[—] NOTES; 

REPORTS TO SERIES 2014-[—] NOTEHOLDERS 

SECTION 5.1. Delivery and Payment for the Series 2014-[—] Notes. The Issuer shall
execute and issue, and the Indenture Trustee shall authenticate, the Series 2014-[—] Notes in accordance with Section 2.2 of the Indenture. The Indenture Trustee shall deliver the Series
2014-[—] Notes to or upon the written order of the Issuer when so authenticated. 

SECTION 5.2. Reports and Statements to Series 2014-[—] Noteholders. 

(a) Not later than the Business Day preceding each Payment Date, the Issuer shall deliver or cause the Servicer to deliver to the Trustee, the
Indenture Trustee, each Series 2014-[—] Noteholder a statement substantially in the form of Exhibit B (the “Monthly Statement”); provided that the Issuer may amend the form of
Exhibit B from time to time. 
 (b) On or before January 31 of each calendar year, beginning with January 31, 2015, the Issuer
shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 2014-[—] Noteholder the information for the preceding calendar year, or the
applicable portion thereof during which the Person was a Noteholder, as is 

  

					
		 	
 27
	 	 Indenture Supplement

Series 2014-[—]

 
required to be provided by an issuer of indebtedness under the Code to the holders of the Issuer’s indebtedness and such other customary information as is necessary to enable such Noteholder
to prepare its federal income tax returns. Notwithstanding anything to the contrary contained in this Agreement, the Issuer shall, to the extent required by applicable law, from time to time furnish or cause to be furnished to the appropriate
Persons, at least five Business Days prior to the end of the period required by applicable law, the information required to complete a Form 1099-INT. 

ARTICLE VI 
 SERIES
2014-[—] EARLY AMORTIZATION EVENTS 
 SECTION 6.1. Series 2014-[—] Early Amortization Events. If any one of the following events shall occur with respect to the Series 2014-[—] Notes: 

(a)(i) failure on the part of the Issuer to make any payment or deposit required to be made by it by the terms of any of the Loan Agreements
(other than any payments or deposits made solely in connection with the FDIC Rule Requirements) on or before the date occurring five (5) Business Days after the date such payment or deposit is required to be made therein or herein or
(ii) failure of the Issuer duly to observe or perform in any material respect any of its covenants or agreements set forth in any of the Loan Agreements (excluding matters (x) addressed by clause (i) above and
(y) covenants and agreements made solely pursuant to the FDIC Rule Requirements), which failure has a material adverse effect on the Series 2014-[—] Noteholders’ interest in the Series
2014-[—] Notes and which continues unremedied for a period of ninety days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the
Issuer by the Indenture Trustee, or to the Issuer and the Indenture Trustee by Noteholders representing a majority of the Outstanding Principal Balance of the Series 2014-[—] Notes; 

(b) any representation or warranty made by the Issuer in any of the Loan Agreements shall prove to have been incorrect in any material respect
when made or when delivered (excluding representations and warranties made solely pursuant to the FDIC Rule Requirements), which continues to be incorrect in any material respect for a period of ninety days after the date on which written notice of
such failure, requiring the same to be remedied, shall have been given to the Issuer by the Indenture Trustee, or to the Issuer and the Indenture Trustee by Noteholders representing a majority of the Outstanding Principal Balance of the Series
2014-[—] Notes and as a result of which the interests of the Series 2014-[—] Noteholders are materially and adversely affected for such period;

 (c)(i) failure on the part of Transferor to make any payment or deposit required to be made by it by the terms of the Transfer Agreement
(other than any payments or deposits made solely in connection with the covenants, obligations and agreements set forth in Schedule 6.4 of the Transfer Agreement) on or before the date occurring five (5) Business Days after the date such
payment or deposit is required to be made therein or herein or (ii) failure of the Transferor duly to observe or perform in any material respect any of its covenants or agreements set forth in the Transfer Agreement (excluding matters
(x) addressed by clause (i) above and (y) covenants and agreements made solely pursuant to Schedule 6.4 of the Transfer Agreement), which failure has a material adverse effect on the Series 2014-[•] Noteholders’
interest in the Series 2014-[—] 

  

					
		 	
 28
	 	 Indenture Supplement

Series 2014-[—]

 
Notes and which continues unremedied for a period of ninety days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Transferor
by the Indenture Trustee, or to the Transferor and the Indenture Trustee by Noteholders representing a majority of the Outstanding Principal Balance of the Series 2014-[—] Notes; 

(d) any representation or warranty made by the Transferor in the Transfer Agreement shall prove to have been incorrect in any material respect
when made or when delivered (excluding representations and warranties made solely pursuant to Schedule 6.4 of the Transfer Agreement), which continues to be incorrect in any material respect for a period of ninety days after the date on which
written notice of such failure, requiring the same to be remedied, shall have been given to the Transferor by the Indenture Trustee, or to the Transferor and the Indenture Trustee by Noteholders representing a majority of the Outstanding Principal
Balance of the Series 2014-[—] Notes and as a result of which the interests of the Series 2014-[—] Noteholders are materially and adversely
affected for such period; provided, however, that a Series 2014-[—] Early Amortization Event pursuant to this Section 6.1(d) shall not be deemed to have occurred hereunder
if the Transferor has accepted reassignment of the related Transferred Receivable, or all of such Transferred Receivables, if applicable, during such period in accordance with the provisions of the Transfer Agreement; 

(e) the Free Equity Amount shall be less than the Minimum Free Equity Amount as of the end of any Monthly Period and shall not have been
increased to an amount equal to or greater than the Minimum Free Equity Amount on or before the immediately following Payment Date; 
 (f)
the Trust Principal Balance shall be less than the Required Principal Balance as of the end of any Monthly Period and shall not have been increased to an amount equal to or greater than the Required Principal Balance on or before the immediately
following Payment Date; 
 (g) any Servicer Default shall occur, which has a material adverse effect on the Series 2014-[—] Noteholders’ interest in the Series 2014-[—] Notes; 

(h) as of any Payment Date, the Three-Month Average Excess Spread Percentage shall be less than 0.00%; 

(i) without limiting the foregoing, the occurrence of an Event of Default with respect to Series
2014-[—] and acceleration of the maturity of the Series 2014-[—] Notes pursuant to Section 5.3 of the Indenture; or 

(j) the Note Principal Balance is not reduced to zero following the payments made to the Noteholders on the Scheduled Final Payment Date; 

then, in the case of any event described above, after the applicable grace period, if any, set forth in such subparagraph, Noteholders representing a majority
of the Outstanding Principal Amount of the Series 2014-[—] Notes by notice then given in writing to the Issuer, with a copy to the Servicer and the Indenture Trustee, may declare that a
“Series Early Amortization Event” with respect to Series 2014-[—] (a “Series 2014-[—] Early Amortization
Event”) has occurred as of the date of such notice; provided, however, in the case of any event described in subsection (h), (i) or 

  

					
		 	
 29
	 	 Indenture Supplement

Series 2014-[—]

 
(j) a Series 2014-[—] Early Amortization Event shall occur without any notice or other action on the part of the Indenture Trustee
or the Series 2014-[—] Noteholders immediately upon the occurrence of such event. 

ARTICLE VII 
 REDEMPTION
OF SERIES 2014-[—] NOTES; 
 FINAL DISTRIBUTIONS; SERIES TERMINATION

 SECTION 7.1. Redemption Price; Final Distributions. 

(a) (i) The amount to be paid by the Transferor with respect to Series 2014-[—] in
connection with a reassignment of Transferred Receivables to the Transferor pursuant to Section 6.1(f) of the Transfer Agreement shall not be less than the Redemption Price for the first Payment Date following the Monthly Period in which
the reassignment obligation arises under the Transfer Agreement. 
 (ii) The amount to be paid by the Issuer with respect to
Series 2014-[—] in connection with a repurchase of the Notes pursuant to Section 10.1 of the Trust Agreement shall not be less than the Redemption Price for the Payment Date of such
repurchase. 
 (b) With respect to (i) the Redemption Price deposited into the Collection Account pursuant to this
Section 7.1 or (ii) the proceeds of any sale of Transferred Receivables pursuant to Section 5.3 of the Indenture with respect to Series 2014-[—], the Indenture
Trustee shall, in accordance with the written direction of the Issuer, not later than 12:00 noon, New York City time, on the related Payment Date make payments of the following amounts (in the priority set forth below and, in each case, after giving
effect to any deposits and payments otherwise to be made on such date) in immediately available funds: (i) (x) the Class A Note Principal Balance on such Payment Date will be paid to the Class A Noteholders and (y) an amount
equal to the sum of (A) Class A Monthly Interest due and payable on such Payment Date or any prior Payment Date, (B) any Class A Deficiency Amount for such Payment Date, (C) the amount of Class A Additional Interest, if
any, for such Payment Date and any Class A Additional Interest previously due but not paid to the Class A Noteholders on any prior Payment Date and (D) the Class A Non-Use Fees, if any, due and payable on such Payment Date or any
prior Payment Date, will be paid to the Class A Noteholders, (ii) (x) the Class B Note Principal Balance on such Payment Date will be paid to the Class B Noteholders and (y) an amount equal to the sum of (A) Class B Monthly
Interest due and payable on such Payment Date or any prior Payment Date, (B) any Class B Deficiency Amount for such Payment Date, (C) the amount of Class B Additional Interest, if any, for such Payment Date and any Class B Additional
Interest previously due but not paid to the Class B Noteholders on any prior Payment Date, and (D) the Class B Non-Use Fees, if any, due and payable on such Payment Date or any prior Payment Date, will be paid to the Class B Noteholders,
(iii) an amount equal to any Class A Reimbursement Amounts, if any, due and payable on such Payment Date or any prior Payment Date, will be paid to the Class A Noteholders, (iv) an amount equal to any Class B Reimbursement
Amounts, if any, due and payable on such Payment Date or any prior Payment Date, will be paid to the Class B Noteholders and (v) any excess shall be released to the Holder. 

  

					
		 	
 30
	 	 Indenture Supplement

Series 2014-[—]

 SECTION 7.2. Distributions After Repudiation and Payment of Damages by FDIC. 

(a) In the event that GE Capital Retail Bank becomes the subject of an insolvency proceeding and a special payment date is declared as
contemplated by Section 11.3(b) of the Indenture, the amount of interest payable with respect to each Class of Series 2014-[—] Notes on the special payment date shall be equal to (i) with
respect to the Class A Notes, the sum of any Class A Deficiency Amount, plus the aggregate amount of interest accrued on the Class A Notes from and including the preceding Payment Date to but excluding the special payment date,
including any Class A Additional Interest accrued on any Class A Deficiency Amount and (ii) with respect to the Class B Notes, the sum of any Class B Deficiency Amount, plus the aggregate amount of interest accrued on the Class B
Notes from and including the preceding Payment Date to but excluding the special payment date, including any Class B Additional Interest accrued on any Class B Deficiency Amount. 

(b) In the event that GE Capital Retail Bank becomes the subject of an insolvency proceeding and the FDIC as receiver or conservator for GE
Capital Retail Bank exercises its right of repudiation and elects to pay damages with respect to the Series 2014-[—] Notes as contemplated by paragraph (d)(4)(ii) of the FDIC Rule, (i) any
damages received with respect to the Series 2014-[—] Notes shall deposited to the Distribution Account and (ii) the Issuer shall promptly, and in no event later than one Business Day after
such damages have been paid by the FDIC, compute the amount, if any, required to be withdrawn from available funds allocated to Series 2014-[—] in the Finance Charge Account, the Principal Account
and the other Trust Accounts and transferred to the Distribution Account, so that the amount on deposit in the Distribution Account shall equal the aggregate amount to be distributed as specified in Section 7.2(c). 

(c) On the applicable payment date determined pursuant to Section 11.3(b) of the Indenture, the Issuer shall, based on the computations
in Section 7.2(b), first, withdraw from the Finance Charge Account, the Principal Account and the other Trust Accounts, the amount so computed in Section 7.2(a) and deposit such amount into the Distribution Account, and
second cause the amount on deposit in the Distribution Account to be distributed in the following order of priority: (i) the sum of the Class A Note Principal Balance on such Payment Date and the amount of interest payable to the
Class A Noteholders as calculated pursuant to Section 7.2(a) shall be paid to the Class A Noteholders and (ii) the sum of the Class B Note Principal Balance on such Payment Date and the amount of interest payable to the
Class B Noteholders as calculated pursuant to Section 7.2(a) shall be paid to the Class B Noteholders. 
 (d) Any funds
remaining in the Finance Charge Account, the Principal Account and the other Trust Accounts to the extent allocated to Series 2014-[—] shall be distributed on the following Payment Date (or the
applicable payment date determined pursuant to Section 11.3(b) if it is a Payment Date), in accordance with the order of priority described in Section 7.1(b) after taking into account amounts distributed in accordance with
Section 7.2(c). 
 SECTION 7.3. Series Termination. On the Series Maturity Date of the Series 2014-[—] Notes, the unpaid principal amount of the Series 2014-[—] Notes shall be due and payable. 

  

					
		 	
 31
	 	 Indenture Supplement

Series 2014-[—]

 ARTICLE VIII 

MISCELLANEOUS PROVISIONS 

SECTION 8.1. Ratification of Indenture; Amendments. As supplemented by this Indenture Supplement, the Indenture is in all respects
ratified and confirmed and the Indenture as so supplemented by this Indenture Supplement shall be read, taken and construed as one and the same instrument. This Indenture Supplement may be amended only by a Supplemental Indenture entered into in
accordance with the terms of Section 9.1 or 9.2 of the Indenture. For purposes of the application of Section 9.2 to any amendment of this Indenture Supplement, the Series 2014-[—]
Noteholders shall be the only Noteholders whose vote shall be required. 
 SECTION 8.2. Form of Delivery of the Series 2014-[—] Notes. The Class A Notes and the Class B Notes shall be Definitive Notes and shall be registered in the Note Register in the name of the initial purchasers of such Notes identified in the
Class A Loan Agreement and the Class B Loan Agreement, respectively. By acquiring a Class A Note or a Class B Note, each purchaser and transferee shall be deemed to represent and warrant that it is not acquiring such Class A Note or
Class B Note (or any interest therein) with the plan assets of a Benefit Plan Investor. Each Class of Series 2014- [—] Notes shall be issued in the maximum amounts specified in each Loan
Agreement and in minimum denominations of $100,000 and in integral multiples of $1; provided that the principal amount of Advances represented by any Note at any time shall not be subject to any requirements as to minimum denominations or
integral multiples. 
 SECTION 8.3. Counterparts. This Indenture Supplement may be executed in two or more counterparts, and by
different parties on separate counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. 

SECTION 8.4. GOVERNING LAW. 

(a) THIS INDENTURE SUPPLEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION,
VALIDITY AND PERFORMANCE, BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401(1) AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER
CONFLICT OF LAW PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 
 (b) EACH PARTY HERETO HEREBY
CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM PERTAINING TO THIS INDENTURE SUPPLEMENT OR TO ANY
MATTER ARISING OUT OF OR RELATING TO THIS INDENTURE SUPPLEMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF MANHATTAN IN NEW YORK CITY;
PROVIDED, FURTHER, THAT NOTHING IN THIS INDENTURE SUPPLEMENT 

  

					
		 	32	 	Indenture Supplement
		 		 	Series 2014-[—]

 
SHALL BE DEEMED OR OPERATE TO PRECLUDE THE INDENTURE TRUSTEE FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE
NOTES, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF THE INDENTURE TRUSTEE. EACH PARTY HERETO SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO HEREBY WAIVES ANY
OBJECTION THAT SUCH PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY
HERETO HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH
PARTY AT ITS ADDRESS DETERMINED IN ACCORDANCE WITH SECTION 10.4 OF THE INDENTURE AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL,
PROPER POSTAGE PREPAID. NOTHING IN THIS SECTION SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND
EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, THE PARTIES HERETO WAIVE ALL RIGHT
TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION
WITH THIS INDENTURE SUPPLEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 SECTION 8.5. Limitation of Liability. It is expressly
understood and agreed by the parties hereto that (a) this document is executed and delivered by BNY Mellon Trust of Delaware, not individually or personally, but solely as Trustee of the Issuer, (b) each of the representations,
undertakings and agreements herein made on the part of the Issuer is made and intended not as a personal representation, undertaking and agreement by BNY Mellon Trust of Delaware but is made and intended for the purpose of binding only the Issuer,
(c) nothing herein contained shall be construed as creating any liability on BNY Mellon Trust of Delaware, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being
expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall BNY Mellon Trust of Delaware be personally liable for the payment of any indebtedness or expenses of
the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this document. 

  

					
		 	33	 	Indenture Supplement
		 		 	Series 2014-[—]

 SECTION 8.6. Rights of the Indenture Trustee. The Indenture Trustee shall have herein the
same rights, protections, indemnities and immunities as specified in the Indenture. 
 SECTION 8.7. Compliance with Applicable
Anti-Terrorism and Anti-Money Laundering Regulations. In order to comply with laws, rules and regulations applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering, the Indenture
Trustee is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Indenture Trustee. Accordingly, each of the parties hereto agrees to provide to the Indenture
Trustee upon its request from time to time such identifying information and documentation as may be available for such party in order to enable the Indenture Trustee to comply with applicable law. 

SECTION 8.8. Tax. It is the intent of the parties hereto that, for purposes of Federal, State and local income and franchise tax and
any other tax measured in whole or in part by income, the Series 2014-[—] Notes shall be treated as debt. 

[SIGNATURE PAGE FOLLOWS] 

  

					
		 	34	 	Indenture Supplement
		 		 	Series 2014-[—]

 IN WITNESS WHEREOF, the undersigned have caused this Indenture Supplement to be duly executed and
delivered by their respective duly authorized officers on the day and year first above written. 
  

			
	GE SALES FINANCE MASTER TRUST, as Issuer
	
	 By: BNY MELLON TRUST OF DELAWARE,

not in its individual capacity, but solely as Trustee on behalf of Issuer

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Indenture Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		 	S-1	 	Indenture Supplement
		 		 	Series 2014-[—]

 EXHIBIT A-1 

FORM OF CLASS A SERIES
20[—]-[—] FLOATING RATE ASSET BACKED NOTE 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER OF THIS CLASS A NOTE: 

 

	 	(1)	AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT IN A PRIVATE TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH THE TERMS OF THE INDENTURE (AS DEFINED HEREIN), AND
AGREES (UNLESS SUCH REQUIREMENT SHALL HAVE BEEN WAIVED IN WRITING BY THE ISSUER WITH RESPECT TO ANY TRANSFER) TO FURNISH THE ISSUER A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE TRANSFER OF THIS NOTE (THE FORM OF
WHICH CAN BE OBTAINED FROM THE ISSUER) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $250,000, AGREES TO FURNISH AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE
SECURITIES ACT AND, AGREES THAT IN ALL CASES IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND IF REQUESTED BY THE
INDENTURE TRUSTEE, AGREES TO FURNISH A TAXPAYER IDENTIFICATION CERTIFICATION ON FORM W-9 OR W-8, AS APPLICABLE, FOR THE PROPOSED TRANSFEREE; 

  

	 	(2)	REPRESENTS THAT IT IS NOT ACQUIRING THE NOTE WITH THE PLAN ASSETS OF (I) 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 TITLE I OF ERISA, (II) A “PLAN” AS DEFINED IN AND SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (III) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE
PLAN ASSETS BY REASON OF INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY, OR (IV) A GOVERNMENTAL, NON-U.S. OR CHURCH PLAN THAT IS SUBJECT TO APPLICABLE LAW THAT IS SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF
ERISA OR SECTION 4975 OF THE CODE; AND 

  

					
		 	Exhibit A-1 (Page 1)	 	

	 	(3)	AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 

THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME DIRECTLY OR INDIRECTLY INSTITUTE OR CAUSE TO BE INSTITUTED
AGAINST THE ISSUER ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDING OR OTHER PROCEEDING UNDER ANY FEDERAL OR STATE BANKRUPTCY LAW UNLESS NOTEHOLDERS OF NOT LESS THAN
66 2⁄3% OF THE OUTSTANDING PRINCIPAL AMOUNT OF EACH CLASS OF EACH SERIES HAS APPROVED SUCH FILING AND IT WILL NOT DIRECTLY OR INDIRECTLY INSTITUTE OR CAUSE TO
BE INSTITUTED AGAINST THE TRANSFEROR ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDING OR OTHER PROCEEDING UNDER ANY FEDERAL OR STATE BANKRUPTCY LAW IN ANY INSTANCE; PROVIDED, THAT THE FOREGOING SHALL NOT IN
ANYWAY LIMIT THE NOTEHOLDER’S RIGHTS TO PURSUE ANY OTHER CREDITOR RIGHTS OR REMEDIES THAT THE NOTEHOLDERS MAY HAVE FOR CLAIMS AGAINST THE ISSUER. 

THE HOLDER OF THIS CLASS A NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS A 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. 

  

					
		 	Exhibit A-1 (Page 2)	 	

					
	 REGISTERED
 No.
R-        
	 		 	Up to $        

 GE SALES FINANCE MASTER TRUST SERIES 20[—]-[—] 
 CLASS A SERIES 20[—]-[—] FLOATING RATE ASSET BACKED NOTE 
 GE Sales Finance Master Trust (herein referred to as the
“Issuer” or the “Trust”), a Delaware statutory trust governed by the Amended and Restated Trust Agreement dated as of February 29, 2012 (as amended or supplemented from time to time), for value received, hereby promises to
pay to                     , [as Lender Group Agent (as defined in the Class A Loan Agreement (as defined herein)) for its Lender Group (as
defined in the Class A Loan Agreement (as defined herein))] or registered assigns, subject to the following provisions, the principal sum of
                    DOLLARS, or such greater or lesser amount as determined in accordance with the Indenture, on the
            Payment Date, except as otherwise provided below or in the Indenture. The Issuer will pay interest on each Payment Date on the aggregate unpaid principal amount of the
Class A Notes in an amount equal to the Class A Monthly Interest for the preceding Interest Period. The holder of this Note shall be entitled to a portion of such Class A Monthly Interest allocated to this Note pursuant to the Loan
Agreement (Series 20[—]-[—], Class A), dated as of             , 20[—] (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Class A Loan Agreement”), among the Issuer, the lenders parties thereto and the lender group
agents for the lender groups parties thereto. Principal of this Note shall be paid in the manner specified in the Indenture Supplement referred to 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. 
 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 or the Indenture Supplement referred to on the reverse hereof, or be valid for any purpose.

  

					
		 	Exhibit A-1 (Page 3)	 	

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

 

			
	GE SALES FINANCE MASTER TRUST, as Issuer
	
	By: BNY Mellon Trust of Delaware, not in its individual capacity but solely as Trustee on behalf of Issuer
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                     

  

					
		 	Exhibit A-1 (Page 4)	 	

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Indenture Trustee
		
	By:	 	  

		 	Authorized Signatory

  

					
		 	Exhibit A-1 (Page 5)	 	

 GE SALES FINANCE MASTER TRUST SERIES 20[—]-[—] 
 CLASS A SERIES 20[—]-[—] FLOATING RATE ASSET BACKED NOTE 
 Summary of Terms and Conditions 

This Class A Note is one of a duly authorized issue of Notes of the Issuer, designated as GE Sales Finance Master Trust, Series 20[—]-[—] (the “Series 20[—]-[—]
Notes”), issued under a Master Indenture dated as of February 29, 2012 (as amended, the “Master Indenture”), between the Issuer and Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture
Trustee”), as supplemented by the Series 20[—]-[—] Indenture Supplement dated as of
            , 20[—] (the “Indenture Supplement”), and representing the right to receive certain payments from the
Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Master Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note that
are defined in the Indenture shall have the meanings assigned to them in or pursuant to the Indenture. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control. 

The Class B Notes will also be issued under the Indenture. 

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 neither the Trustee nor the Indenture Trustee is liable to the Noteholders for any amount payable under the Notes or the Indenture or, except in the case of the Indenture Trustee 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. 

THIS CLASS A NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST IN, THE ISSUER, GE CAPITAL RETAIL BANK, GE SALES FINANCE HOLDING,
L.L.C., OR ANY OF THEIR AFFILIATES, AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. 

THIS CLASS A NOTE IS LIMITED IN RIGHT OF PAYMENT TO CERTAIN COLLECTIONS WITH RESPECT TO THE RECEIVABLES (AND CERTAIN OTHER COLLATERAL)
ALLOCATED TO THE SERIES 20[—]-[—] NOTES, ALL AS MORE SPECIFICALLY SET FORTH HEREINABOVE AND IN THE INDENTURE. 

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

  
 Exhibit A-1 (Page 6) 

 THIS CLASS A 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. 

  
 Exhibit A-1 (Page 7) 

 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:                     	  		  	Signature Guaranteed:	 	

  
  

	**	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.

  
 Exhibit A-1 (Page 8) 

 EXHIBIT A-2 

FORM OF CLASS B SERIES
20[—]-[—] FLOATING RATE ASSET BACKED NOTE 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT AS SET FORTH IN THE NEXT SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER OF THIS CLASS B NOTE: 

 

	 	(1)	AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT IN A PRIVATE TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH THE TERMS OF THE INDENTURE (AS DEFINED HEREIN), AND
AGREES (UNLESS SUCH REQUIREMENT SHALL HAVE BEEN WAIVED IN WRITING BY THE ISSUER WITH RESPECT TO ANY TRANSFER) TO FURNISH THE ISSUER A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE TRANSFER OF THIS NOTE (THE FORM OF
WHICH CAN BE OBTAINED FROM THE ISSUER) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $250,000, AGREES TO FURNISH AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUER THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE
SECURITIES ACT AND, AGREES THAT IN ALL CASES IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND IF REQUESTED BY THE
INDENTURE TRUSTEE, AGREES TO FURNISH A TAXPAYER IDENTIFICATION CERTIFICATION ON FORM W-9 OR W-8, AS APPLICABLE, FOR THE PROPOSED TRANSFEREE; 

  

	 	(2)	REPRESENTS THAT IT IS NOT ACQUIRING THE NOTE WITH THE PLAN ASSETS OF (I) 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 TITLE I OF ERISA, (II) A “PLAN” AS DEFINED IN AND SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (III) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE
PLAN ASSETS BY REASON OF INVESTMENT BY AN EMPLOYEE BENEFIT PLAN OR PLAN IN SUCH ENTITY, OR (IV) A GOVERNMENTAL, NON-U.S. OR CHURCH PLAN THAT IS SUBJECT TO APPLICABLE LAW THAT IS SUBSTANTIALLY SIMILAR TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF
ERISA OR SECTION 4975 OF THE CODE; AND 

  
 Exhibit A-2 (Page 1) 

	 	(3)	AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. 

THE HOLDER OF THIS NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME DIRECTLY OR INDIRECTLY INSTITUTE OR CAUSE TO BE INSTITUTED
AGAINST THE ISSUER ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDING OR OTHER PROCEEDING UNDER ANY FEDERAL OR STATE BANKRUPTCY LAW UNLESS NOTEHOLDERS OF NOT LESS THAN
66 2⁄3% OF THE OUTSTANDING PRINCIPAL AMOUNT OF EACH CLASS OF EACH SERIES HAS APPROVED SUCH FILING AND IT WILL NOT DIRECTLY OR INDIRECTLY INSTITUTE OR CAUSE TO
BE INSTITUTED AGAINST THE TRANSFEROR ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION PROCEEDING OR OTHER PROCEEDING UNDER ANY FEDERAL OR STATE BANKRUPTCY LAW IN ANY INSTANCE; PROVIDED, THAT THE FOREGOING SHALL NOT IN
ANYWAY LIMIT THE NOTEHOLDER’S RIGHTS TO PURSUE ANY OTHER CREDITOR RIGHTS OR REMEDIES THAT THE NOTEHOLDERS MAY HAVE FOR CLAIMS AGAINST THE ISSUER. 

THE HOLDER OF THIS CLASS B NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS B 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. 

  
 Exhibit A-2 (Page 2) 

			
	 REGISTERED
 No.
R-        
	  	Up to $         

 GE SALES FINANCE MASTER TRUST SERIES 20[—]-[—] 
 CLASS B SERIES 20[—]-[—] FLOATING RATE ASSET BACKED NOTE 
 GE Sales Finance Master Trust (herein referred to as the
“Issuer” or the “Trust”), a Delaware statutory trust governed by the Amended and Restated Trust Agreement dated as of February 29, 2012 (as amended or supplemented from time to time), for value received, hereby promises to
pay to             , [as Lender Group Agent (as defined in the Class B Loan Agreement (as defined herein)) for its Lender Group (as defined in the Class B Loan Agreement (as defined
herein))] or registered assigns, subject to the following provisions, the principal sum of              DOLLARS, or such greater or lesser amount as determined in accordance with the
Indenture, on the                      Payment Date, except as otherwise provided below or in the Indenture. The Issuer will pay interest on each
Payment Date on the aggregate unpaid principal amount of the Class B Notes in an amount equal to the Class B Monthly Interest for the preceding Interest Period. The holder of this Note shall be entitled to a portion of such Class B Monthly Interest
allocated to this Note pursuant to the Loan (Series 20[—]-[—], Class B), dated as of
            , 20[—] (as the same may be amended, restated, supplemented or otherwise modified from time to time, the Class B Loan
Agreement), among the Issuer, the lenders parties thereto and the lender group agents for the lender groups parties thereto. Principal of this Note shall be paid in the manner specified in the Indenture Supplement referred to 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. 
 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 or the Indenture Supplement referred to on the reverse hereof, or be valid for
any purpose. 
 THIS CLASS B NOTE IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS ON THE CLASS A NOTES TO THE EXTENT SPECIFIED IN
THE INDENTURE SUPPLEMENT. 

  
 Exhibit A-2 (Page 3) 

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

 

			
	GE SALES FINANCE MASTER TRUST, as Issuer
	
	By: BNY Mellon Trust of Delaware, not in its individual capacity but solely as Trustee on behalf of Issuer
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                     

  
 Exhibit A-2 (Page 4) 

 INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Indenture Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 Exhibit A-2 (Page 5) 

 GE SALES FINANCE MASTER TRUST SERIES 20[—]-[—] 
 CLASS B SERIES 20[—]-[—] FLOATING RATE ASSET BACKED NOTE 
 Summary of Terms and Conditions 

This Class B Note is one of a duly authorized issue of Notes of the Issuer, designated as GE Sales Finance Master Trust, Series 20[—]-[—] (the “Series 20[—]-[—]
Notes”), issued under a Master Indenture dated as of February 29, 2012 (as amended, the “Master Indenture”), between the Issuer and Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture
Trustee”), as supplemented by the Series 20[—]-[—] Indenture Supplement dated as of
            , 20[—] (the “Indenture Supplement”), and representing the right to receive certain payments from the
Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Master Indenture as supplemented by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note that
are defined in the Indenture shall have the meanings assigned to them in or pursuant to the Indenture. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control. 

The Class A Notes will also be issued under the Indenture. 

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 neither the Trustee nor the Indenture Trustee is liable to the Noteholders for any amount payable under the Notes or the Indenture or, except in the case of the Indenture Trustee 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. 

THIS CLASS B NOTE DOES NOT REPRESENT AN OBLIGATION OF, OR AN INTEREST IN, THE ISSUER, GE CAPITAL RETAIL BANK, GE SALES FINANCE HOLDING,
L.L.C., OR ANY OF THEIR AFFILIATES, AND IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. 

THIS CLASS B NOTE IS LIMITED IN RIGHT OF PAYMENT TO CERTAIN COLLECTIONS WITH RESPECT TO THE RECEIVABLES (AND CERTAIN OTHER COLLATERAL)
ALLOCATED TO THE SERIES 20[—]-[—] NOTES, ALL AS MORE SPECIFICALLY SET FORTH HEREINABOVE AND IN THE INDENTURE. 

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

  
 Exhibit A-2 (Page 6) 

 THIS CLASS B 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. 

  
 Exhibit A-2 (Page 7) 

 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:             ,        	  		  	Signature Guaranteed:	 	

  
  

	**	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.

  
 Exhibit A-2 (Page 8) 

 EXHIBIT B 

GE Sales Finance Master Trust 

Monthly Noteholder’s Statement 

Pursuant to the Master Indenture, dated as of February 29, 2012 (as amended and supplemented, the “Indenture”) between GE Sales
Finance Master Trust (the “Issuer”) and Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture Trustee”), as supplemented by the Series 2014-[—] Indenture
Supplement (the “Indenture Supplement”), dated as of [—], 2014 between the Issuer and the Indenture Trustee, the Issuer is required to prepare, or cause the Servicer to prepare, certain
information each month regarding current distributions to the Series 2014-[—] Noteholders and the performance of the Issuer during the previous month. The information required to be prepared with
respect to the Payment Date of [            ], and with respect to the performance of the Issuer during the Monthly Period ended
[            ] is set forth below. Capitalized terms used herein are defined in the Indenture and the Indenture Supplement. Unless otherwise indicated, references to Principal Receivables
and Principal Collections exclude Discount Option Receivables and references to Finance Charge Receivables and Finance Charge Collections include Discount Option Receivables. The Discount Option Percentage was designated as
[    ]% as of [            ]. 
 The undersigned, an Authorized Officer of
the Servicer, does hereby certify as follows: 
 Record Date: 

Monthly Period Beginning: 
 Monthly Period Ending: 

Previous Payment Date: 
 Payment Date: 

Interest Period Beginning: 
 Interest Period Ending: 

Days in Monthly Period: 
 Days in Interest Period: 

LIBOR Determination Date 
 LIBOR Rate 

Is there a Reset Date? 
 I. Trust Receivables Information

 a. Number of Accounts Beginning 
 b. Number of Accounts
Ending 
 c. Average Account Balance (r / b) 
 d. BOP Aggregate
Principal Receivable 
 e. BOP Discount Option Receivables 
 f.
BOP Finance Charge Receivables 
 g. BOP Total Receivables 

  
 Exhibit 

B-1 

 h. Increase in Principal Receivables from Additional Accounts 

i. Increase in Principal Activity on Existing Securitized Accounts 

j. Increase in Finance Charge Receivables from Additional Accounts 

k. Increase in Finance Charge Activity on Existing Securitized Accounts 

l. Increase in Total Receivables 
 m. Decrease in Principal
Receivables due to Account Removal 
 n. Decrease in Principal Activity on Existing Securitized Accounts 

o. Decrease in Finance Charge Receivables due to Account Removal 

p. Decrease in Finance Charge Activity on Existing Securitized Accounts 

q. Decrease in Total Receivables 
 r. EOP Aggregate Principal
Receivables 
 s. EOP Discount Option Receivables 
 t. EOP
Finance Charge Receivables 
 u. EOP Total Receivables 
 v.
Excess Funding Account Balance 
 w. Required Principal Balance 

x. Minimum Free Equity Amount (EOP Aggregate Principal Receivables * 1.0%) 

y. Free Equity Amount (EOP Principal Receivables - EOP Collateral Amount (II.c.i+II.a.ii+II.b.ii+II.b.iii)) 

II. Investor Information (Sum of all Series, excluding new issuances and additional draws subsequent to end of the Monthly Period) 

a. Note Principal Balance 
 i. Beginning of
Interest Period 
 ii. Increase in Note Principal Balance due to New Issuance / Additional Draws 

iii. Decrease in Note Principal Balance due to Principal Paid and Notes Retired 

iv. End of Payment Date 
 b. Excess Collateral
Amount 
 i. Beginning of Interest Period 

ii. Change to Enhancement Amount 

iii. Increase in Excess Collateral Amount due to New Issuance 

iv. Reductions in Required Excess Collateral Amount 

v. Increase/Decrease in Unreimbursed Investor Charge-Off 

vi. Increase/Decrease in Unreimbursed Reallocated Principal Collections 

vii. End of Payment Date 
 c. Collateral Amount

 i. Beginning of Interest Period 

ii. End of Payment Date 

  
 Exhibit 

B-2 

 III. Trust Performance Data (Monthly Period) 

a. Gross Trust Yield ((Finance Charge Collections + Recoveries) / BOP Principal Receivables) 

i. Current 
 ii. Prior Monthly
Period 
 iii. Two Months Prior Monthly Period 

iv. Three-Month Average 
 b. Charge-Off Rate
(Default Amount for Defaulted Accounts / BOP Principal Receivables) 
 i. Current 

ii. Prior Monthly Period 
 iii.
Two Months Prior Monthly Period 
 iv. Three-Month Average 

c. Base Rate ((Noteholder Servicing Fee / BOP Principal Receivables) + (Monthly Interest / BOP Note Principal Bal)) 

i. Current 
 ii. Prior Monthly
Period 
 iii. Two Months Prior Monthly Period 

iv. Three-Month Average 
 d. Excess Spread
Percentage 
 i. Current 
 ii.
Prior Monthly Period 
 iii. Two Months Prior Monthly Period 

iv. Three-Month Average Excess Spread Percentage 

e. Payment Rate (Principal Collections / BOP Principal Receivables) 

i. Current 
 ii. Prior Monthly
Period 
 iii. Two Months Prior Monthly Period 

iv. Three-Month Average 
 f. Default Amount for
Defaulted Accounts 
 g. Collections 
 i. Total
Trust Finance Charge Collections (excludes recoveries) 
 a. Portion of Trust F/C Collections attributable to Discount Option Receivables

 ii. Recoveries 
 iii. Total
Trust Principal Collections 
 iv. Total Trust Collections (sum of i through iii) 

  
 Exhibit 

B-3 

					
	h. Delinquency Data	  	Percentage	  	Total Receivables
	 i. 1-29 Days Delinquent
  

ii. 30-59 Days Delinquent
  

iii. 60-89 Days Delinquent
  

iv. 90-119 Days Delinquent
  

v. 120-149 Days Delinquent
  

vi. 150-179 Days Delinquent
  

vii. 180 or Greater Days Delinquent
	  		  	

 IV. Investor Information 

a. Class A Note Principal Balance 
 i.
Beginning of Interest Period 
 ii. Principal Balance Increase 

iii. Principal Payment 
 iv. End
of Payment Date 
 b. Class B Note Principal Balance 

i. Beginning of Interest Period 

ii. Principal Balance Increase 

iii. Principal Payment 
 iv. End
of Payment Date 
 c. Excess Collateral Amount 

i. Beginning of Interest Period 

ii. Change to enhancement amount 

iii. Increase in Excess Collateral Amount due to Advances 

iv. Increase/Decrease in Unreimbursed Investor Charge-Offs 

v. Increase/Decrease in Reallocated Principal Collections 

vi. Reduction in Required Excess Collateral Amount 

vii. End of Payment Date 
 d. Collateral Amount

 i. Beginning of Interest Period 

ii. Change to enhancement amount 

iii. Increase in Note Principal Balance due to Advances 

iv. Increase/Decrease in Unreimbursed Investor Charge-Offs 

v. Increase/Decrease in Reallocated Principal Collections 

vi. Reduction in Required Excess Collateral Amount 

vii. Principal Payments 
 viii.
End of Payment Date 
 ix. Collateral Amount as a Percentage of Trust Principal Balance 

x. Amount by which Note Principal Balance exceeds Collateral Amount 

  
 Exhibit 

B-4 

 e. Required Excess Collateral Amount 

V. Investor Charge-Offs and Reallocated Principal Collections 

a. Beginning Unreimbursed Investor Charge-Offs 
 b. Current
Unreimbursed Investor Defaults 
 c. Current Unreimbursed Investor Uncovered Dilution Amount 

d. Current Reimbursement of Investor Charge-Offs pursuant to Section 4.4(a)(vii) 

e. Ending Unreimbursed Investor Charge-Offs 
 f. Beginning
Unreimbursed Reallocated Principal Collections 
 g. Current Reallocated Principal Collections pursuant to Section 4.7 

h. Current Reimbursement of Reallocated Principal Collections pursuant to Section 4.4(a)(vii) 

i. Ending Unreimbursed Reallocated Principal Collections 
 VI.
Investor Percentages 
 a. Allocation Percentage Numerator - for Finance Charge Collections and Default Amounts 

b. Allocation Percentage Numerator - for Principal Collections 

c. Allocation Percentage Denominators 
 i.
Aggregate Principal Receivables Balance as of Prior Monthly Period 
 ii. Number of Days at Balance 

iii. Aggregate Principal Receivables on Reset Date (if applicable) 

iv. Number of Days at Balance 
 v.
Average Principal Balance 
 d. Sum of Allocation Percentage Numerators for all outstanding Series with respect to Finance Charge Collections and Default
Amounts 
 e. Sum of Allocation Percentage Numerators for all outstanding Series with respect to Principal Collections 

f. Allocation Percentage, Finance Charge Collections and Default Amount (a. / greater of c.v or d.) 

g. Allocation Percentage, Principal Collections (b. / greater of c.v. or e.) 

VII. Collections and Allocations Series 

					
	 	  	Trust	    	Series

 a. Finance Charge Collections 

b. Recoveries 
 c. Principal Collections 

d. Default Amount 
 e. Dilution (Included in I.h.) 

f. Investor Uncovered Dilution Amount 
 g. Available Finance
Charge Collections 
 i. Investor Finance Charge Collections 

ii. Recoveries 
 iii. Excess
Finance Charge Collections allocable to Series 2014-[—] 
 iv. Available Finance Charge
Collections (Sum of g.i through g.iii) 
 h. Total Collections (c.Series + g.iv.) 

  
 Exhibit 

B-5 

 VIII. Application of Available Funds pursuant to Section 4.4(a) of the Indenture Supplement 

Available Finance Charge Collections 
 (i.) On a pari passu
basis: 
 (a) To the extent not otherwise paid by the Transferor, to the Trustee 

(b) To the Servicer: 
 (i)
Noteholder Servicing Fee 
 (ii) Noteholder Servicing Fee previously due but not paid 

(iii) Total Amounts paid to Servicer 
 (ii.) On a
pari passu basis: 
 (a) Current Class A Monthly Interest 

(b) Class A Additional Interest 

(i) Prior unpaid Class A Monthly Interest 

(ii) Class A adjustment due to prior period underpayment 

(iii.) Class A Non-Use Fee: 
 (a)
Class A Non-Use Fee 
 (b) Class A Non-Use Fee previously due but unpaid 

(iv.) On a pari passu basis: 
 (a) Current Class
B Monthly Interest 
 (b) Class B Additional Interest 

(i) Prior unpaid Class B Monthly Interest 

(ii) Class B adjustment due to prior period underpayment 

(v.) Class B Non-Use Fee: 
 (a) Class B Non-Use
Fee 
 (b) Class B Non-Use Fee previously due but unpaid 

(vi.) To be treated as Available Principal Collections: 

(a) Investor Default Amount 
 (b)
Investor Uncovered Dilution Amount 
 (vii.) To be treated as Available Principal Collections, to the extent not previously reimbursed 

(a) Investor Charge-offs 
 (b)
Reallocated Principal Collections 
 (viii.) To the Class A Noteholders 

(a) Class A Reimbursement Amounts 

(b) Class A Reimbursement Amounts not previously reimbursed 

(ix.) To the Class B Noteholders 
 (a) Class B
Reimbursement Amounts 
 (b) Class B Reimbursement Amounts not previously reimbursed 

  
 Exhibit 

B-6 

 (xi.) The balance, if any, will constitute a portion of Excess Finance Charge Collections for such Payment Date
and first will be available to treat as Available Funds or for allocation to other Series in Group One and, then: 
 a. Unless an Early
Amortization Event has occurred, to the Transferor; and or 
 b. If an Early Amortization Event has occurred, first, to pay Monthly Principal
in accordance with Section 4.4(c) of the Indenture Supplement to the extent not paid in full from Available Principal Collections (calculated without regard to amounts available to be treated as Available Principal Collections pursuant to this
clause), and second, any amounts remaining after payment in full of the Monthly Principal shall be paid to the Holder. 
 IX. Excess Finance Charge
Collections (Group One) 
 a. Total Excess Finance Charge Collections in Group One 

b. Finance Charge Shortfall for Series 2014-[—] 

c. Finance Charge Shortfall for all Series in Group One 

d. Excess Finance Charges Collections Allocated to Series 2014-[—] 

X. Available Principal Collections and Distributions 
 a.
Investor Principal Collections 
 b. Less: Reallocated Principal Collections for the Monthly Period pursuant to Section 4.7 of the Indenture Supplement

 c. Plus: Shared Principal Collections allocated to this Series 

d. Plus: Aggregate amount to be treated as Available Principal Collections pursuant to Section 4.4(a)(vi) of the Indenture Supplement 

e. Plus: Aggregate amount to be treated as Available Principal Collections pursuant to Section 4.4(a)(vii) of the Indenture Supplement 

f. Plus: During an Early Amortization Period, the amount of Available Finance Charge Collections used to pay principal on the Notes pursuant to
Section 4.4(a)(xi) of the Indenture Supplement 
 g. Available Principal Collections 

i. During the Revolving Period, Available Principal Collections (x) used to pay Optional Amortization Amounts and (y) treated as
Shared Principal Collections Pursuant to Section 4.4(b) of the Indenture Supplement 
 ii. During the Controlled Amortization Period,
Available Principal Collections deposited to the Distribution Account pursuant to Section 4.4(c) of the Indenture Supplement (including for Optional Amortization Amounts) 

iii. During the Early Amortization Period, Available Principal Collections deposited to the Distribution Account pursuant to
Section 4.4(c) of the Indenture Supplement 
 iv. Series Shared Principal Collections available to Group One pursuant to
Section 4.4(b) or 4.4(c)(iv) of the Indenture Supplement, as applicable 
 v. Principal Distributions pursuant to Section 4.4(c) of
the Indenture Supplement in order of priority 

  
 Exhibit 

B-7 

 a. Principal paid to Class A Noteholders 

b. Principal paid to Class B Noteholders 

vi. Principal Collections available to share (inclusive of Series 2014-[—]) 

vii. Principal Shortfall for Series 2014-[—] 

viii. Shared Principal Collections allocated to this Series from other Series 

XI. Early Amortization Events 
 a. The Free Equity Amount
is less than the Minimum Free Equity Amount at the end of the Current Monthly Period and is not cured by the Payment Date 
 i. Free Equity
Amount 
 ii. Minimum Free Equity Amount 

iii. Excess Free Equity Amount 
 b. The Trust
Principal Balance is less than the Required Principal Balance 
 i. Trust Principal Balance 

ii. Required Principal Balance 

iii. Excess over Required Principal Balance 
 c.
The Three-Month Average Excess Spread Percentage is less than 0.00%: 
 i. Three-Month Average Excess Spread Percentage 

d. The Note Principal Balance is outstanding beyond the Scheduled Final Payment Date 

i. Scheduled Final Payment Date 

ii. Current Payment Date 
 e. Has an early
amortization event occurred? 
 XII. Repurchase Demands 

[No assets securitized by GE Sales Finance Holding, L.L.C. (the “Securitizer”) and held by GE Sales Finance Master Trust were the subject of a
demand to repurchase or replace for breach of the representations and warranties during the Monthly Period.] The most recent Form ABS-15G filed by the Securitizer was filed on
[            ]. The CIK number of the Securitizer is 0001543212. 
 IN WITNESS WHEREOF, the
undersigned has duly executed this Monthly Noteholder’s Statement as of the      day of             . 

GE CAPITAL RETAIL BANK, as Servicer 
  

	
	By:
	Title: Authorized Signatory
	Name:

  

					
		 	 Exhibit

B-8
	 	

 EXHIBIT C 

Form of Optional Amortization Notice 
  

	TO:	The Lender Group Agents 

 Deutsche Bank Trust Company Americas, as Indenture Trustee 

 

	RE:	Notice of Designation of Optional Amortization Amount 

 Gentlemen and Ladies: 

This Optional Amortization Notice is delivered to you pursuant to Section 2.2(b) of the Series 2014-[—] Indenture Supplement (the “Indenture Supplement”), dated as of [—], 2014, between GE Sales Finance Master Trust (the
“Issuer”) and Deutsche Bank Trust Company Americas, as indenture trustee (the “Indenture Trustee”). Unless otherwise defined herein or the context otherwise requires, capitalized terms used herein have the meanings
provided in the Indenture Supplement. 
 The Issuer hereby notifies you that it hereby designates an Optional Amortization Amount of
$[        ] to be distributed to the Class A Noteholders and Class B Noteholders on [            ],
20[        ] (the “Optional Amortization Date”) as specified in Section 2.2(b) of the Indenture Supplement. 

The Issuer has caused this Optional Amortization Notice to be executed and delivered by its duly authorized officer or representative this
    day of         ,         . 
  

			
	GE Sales Finance Master Trust,
	    as Issuer
	
	 By: [GE Capital Retail Bank,

          as Administrator] [Sub-Administrator]

		
	By:	 	
	Name:	 	
	Title:	 	

  

					
		 	 Exhibit

C-1
	 	

 SCHEDULE I 

PERFECTION REPRESENTATIONS, WARRANTIES 

AND COVENANTS (WITH RESPECT TO RECEIVABLES) 

(a) In addition to the representations, warranties and covenants contained in the Indenture, the Issuer hereby represents, warrants and
covenants to the Indenture Trustee as follows as of the Closing Date: 
 (1) The Indenture creates a valid and continuing
security interest (as defined in the applicable UCC) in the Receivables in favor of the Indenture Trustee, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Issuer. 

(2) The Receivables constitute either “accounts” or “general intangibles” within the meaning of the
applicable UCC. 
 (3) The Issuer owns and has good and marketable title to the Receivables free and clear of any Lien, claim
or encumbrance of any Person. 
 (4) There are no consents or approvals required for the pledge of the Receivables to the
Indenture Trustee pursuant to the Indenture. 
 (5) The Issuer (or the Administrator on behalf of the Issuer) has caused the
filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest granted to the Indenture Trustee under the Indenture in the Receivables. 

(6) Other than the pledge of the Receivables to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed the Receivables. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of the Receivables, except
for the financing statement filed pursuant to the Indenture. 
 (7) Notwithstanding any other provision of the Indenture, the
representations and warranties set forth in this Schedule I shall be continuing, and remain in full force and effect, until such time as the Series 2014-[—] Notes are retired. 

(b) The Issuer covenants that in order to evidence the interests of the Issuer and the Indenture Trustee under the Indenture, the Issuer shall
take such action, or execute and deliver such instruments as may be necessary or advisable (including, without limitation, such actions as are requested by the Indenture Trustee) to maintain and perfect, as a first priority interest, the Indenture
Trustee’s security interest in the Receivables. 

  
 Schedule I-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]