Document:

AMENDED CONSULTING AGREEMENT

      This amended agreement is entered into between MarketByte, LLC, a
California Limited Liability Company (hereafter known as MBLLC) and AMNIS
SYSTEMS INC., a Delaware Corporation (hereafter known as AMNM), with reference
to the following facts.

      AMNM has expressed a desire to enter into this amended agreement with
MBLLC to provide Internet Public Relations Services for AMNM. This amended
agreement shall serve to amend the agreement dated May 19, 2003. MBLLC is in the
business of providing such services and desires to enter into an agreement with
AMNM to provide these services for AMNM, a publicly traded company. This
Agreement is for the purpose of defining the services to be provided and the
rights and responsibilities of both parties.

I.    SERVICES PROVIDED BY MBLLC

      1.    MBLLC agrees to prepare a detailed profile report on AMNM following
            certain guidelines that have already been established by MBLLC. The
            report shall be released during the month of May or June 2003, final
            date to be established by both parties.

      2.    MBLLC agrees to expose all future editions to all the members of its
            proprietary OTC Journal database of over 1.2 million members.

      3.    MBLLC will continue to release to its subscribers on the selected
            Newsletter all substantive information (i.e. Press Releases, Annual
            Reports, Analysts Reports, etc.), which AMNM has formally and
            officially released to the general public, for an indefinite period
            at the discretion of MBLLC.

      4.    MBLLC reserves the right to share any views or opinions of its
            choosing with its proprietary database regarding the performance of
            AMNIS SYSTEMS INC stock. The management of AMNIS SYSTEMS INC shall
            have no editorial control over the content published on AMNIS
            SYSTEMS INC within the context of the OTC Journal, and as such both
            parties recognize that any opinions expressed in the OTC Journal are
            solely those of the editors.

II.   RESPONSIBILITIES OF AMNM

      1.    AMNM agrees to assist MBLLC, as requested, in the preparation of the
            corporate profile report on said Company.

      2.    AMNM will, if requested, provide or arrange to be provided to MBLLC
            or its designee, such accounting information as may be necessary to
            complete the corporate "due diligence" necessary to compile an
            accurate and detailed profile report on the companies.

      3.    AMNM agrees to provide MBLLC with certain business and other
            material information about AMNM, its products, services, contracts,
            pending litigation, patents,

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<PAGE>

            trademarks and other such business matters which MBLLC may request
            and which MBLLC considers to be important for the completion of this
            contract.

      4.    AMNM agrees, during the term of this agreement, to notify MBLLC of
            any changes in the status or nature of its business, any pending
            litigation, or any other developments that may require further
            disclosure.

III.  COMPENSATION

      1.    MBLLC shall receive a fee of twenty five thousand US dollars
            ($25,000), payable upon the signing of this agreement.

      2.    MBLLC shall receive a fee of two million (2,000,000) newly issued
            shares of common stock in AMNIS SYSTEMS INC. The aforementioned
            shares shall have piggyback registration rights on any appropriate
            registration statement filed by the company.

      3.    MBLLC shall receive an additional two million (2,000,000) newly
            issued shares of common stock in AMNIS SYSTEMS Inc. The
            aforementioned shares shall have piggyback registration rights on
            any appropriate registration statement filed by the company.

IV.   REPRESENTATIONS BY MBLLC

            MBLLC represents, warrants, and covenants the following:

      1.    MBLLC is a Company duly organized and existing under the laws of the
            State of California and is in good standing with the jurisdiction of
            its incorporation.

      2.    MBLLC will disclose to AMNM any and all material facts and
            circumstances, which may affect its ability to perform it's
            undertaking herein.

      3.    MBLLC will cooperate in a prompt and professional manner with AMNM
            or its agents in the performance of this Agreement.

V.    REPRESENTATIONS OF AMNM

            AMNM represents, warrants and covenants the following:

      1.    AMNM will cooperate fully with MBLLC in executing the
            responsibilities required under this Agreement so that MBLLC may
            fulfill its responsibilities in a timely manner.

      2.    AMNM will not circumvent this Agreement either directly or
            indirectly nor will it interfere with, impair, or delay MBLLC in
            performing work described in this Agreement. AMNM will not cause
            MBLLC to perform work not described in this Agreement.

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<PAGE>

      3.    AMNM and each of its subsidiaries is a corporation duly organized
            and existing under the laws of its state of incorporation and is in
            good standing with the jurisdiction of its incorporation in each
            state where it is required to be qualified to do business.

      4.    AMNM's articles of incorporation and by-law's delivered pursuant to
            this Agreement are true, and complete copies of it have been duly
            adopted.

      5.    AMNM will cooperate in a prompt and professional manner with MBLLC,
            its attorneys, accountants and agents during the performance of the
            obligations due under this Agreement.

      6.    All financial information from AMNM will be provided to MBLLC in a
            timely and complete manner and all other information, which AMNM has
            previously provided to MBLLC concerning AMNM, is accurate and
            complete in every material respect. If it is later determined that
            such is not the case, it shall be considered a basis for the
            termination of this Agreement.

      7.    AMNM does hereby state that all information supplied to MBLLC during
            the course of this Agreement shall be true and accurate to the best
            of AMNM's knowledge. AMNM agrees to hold MBLLC harmless for the
            accuracy of any information disclosed under this Agreement where the
            information was provided by AMNM to MBLCC.

VI.   CONFIDENTIALITY

      1.    MBLLC agrees that all information received from AMNM shall be
            treated as confidential information and MBLLC shall not share such
            information with any other person or entity, except as required by
            MBLLC to fulfill this Agreement, without the express written consent
            of AMNM, unless such disclosure will not cause damages to AMNM or is
            already in the public domain. Furthermore, MBLLC shall not take any
            action with the intention of profiting from "insider information".

VII.  NOTICES

      Any notices from either party to the other shall be deemed received on the
      date such notice is personally delivered. Any notice sent by fax
      transmission shall be deemed received by the other party on the day it has
      been transmitted. Any notice sent by mail by either party to the other
      shall be deemed received on the third business day after it has been
      deposited at a United States or Canadian post office. For purposes of
      delivering or sending notice to the parties under this Agreement such
      notices shall be delivered or sent as follows:

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<PAGE>

      MarketByte LLC
      3525 Del Mar Heights Rd #334
      San Diego, CA 92130

      AMNIS SYSTEMS INC
      3450 Hillview Avenue
      Palo Alto, California 94304

VIII. ENTIRE AGREEMENT

            Neither party has made representations to the other, which are not
      specifically set forth in this Agreement. There are no oral or other
      agreements between the parties that have been entered into prior or
      contemporaneously with the formation of this Agreement. All oral promises,
      agreements, representations, statements and warranties hereinafter
      asserted by one party against the other, shall be deemed to have been
      waived by such party asserting that they were made and this Agreement
      shall supersede all prior negotiations, statements, representations,
      warranties and agreements made or entered into between the parties to this
      Agreement.

IX.   NO ASSIGNMENT

            Neither party may assign any benefit due or delegate performance
      under this Agreement without the express written consent of the other
      party.

X.    CONSTRUCTION

            The laws of the State of California shall govern this Agreement.

XI.   ATTORNEYS FEES

            In any action concerning the enforcement, breach, or interpretation
      of this Agreement, the prevailing party shall be entitled to recover its
      costs of suit and reasonable attorney's fees from the other party, in
      addition to any other relief granted by the court.

XII.  WAIVER

            The waiver of any provision of this Agreement by either party shall
      not be deemed to be a continuing waiver or a waiver of any other provision
      of this Agreement by either party.

XIII. SEVERABILITY

            If any provision of this Agreement or any subsequent modifications
      hereof are found to be unenforceable by a court of competent jurisdiction,
      the remaining provisions shall continue to remain in full force and
      effect.

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<PAGE>

XIV.  AUTHORITY TO ENTER INTO AGREEMENT

            The individuals signing this Agreement below represent to each other
      that they have the authority to bind their respective corporations to the
      terms and conditions of this Agreement. The individuals shall not, however
      have personal liability by executing this Agreement and sign this
      Agreement only in their representative capacities as authorized officers
      of the AMNM and MBLLC respectively.

XV.   INDEMNIFICATION

            MBLLC agrees to indemnify AMNM from any liability or claim arising
      out of any act or omission on the part of MBLLC that would be in violation
      of any securities laws and regulations.

      IN WITNESS WHEREOF, the parties hereto have executed this Consulting
Agreement on this 21st day of November 2003.

AMNIS SYSTEMS INC                       MARKETBYTE, LLC

-----------------------------------     ----------------------------------------
Scott Mac Caughern                      Lawrence D. Isen
Chairman, Amnis Systems, Inc.           Authorized Signing Member

                                       5Exhibit 4.1

 Exhibit 4.1 
 EXECUTION COPY 
  

  
 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 
  
 as Issuer 
  
 and 
  
 THE BANK OF NEW YORK 
  
 as Indenture Trustee 
  
 CLASS
A(2003-7) TERMS DOCUMENT 
  
 dated as of November 21, 2003

  
 to 
  
 CARD SERIES INDENTURE SUPPLEMENT 
  
 dated as of October 9, 2002 
  
 to 
  
 ASSET POOL 1 SUPPLEMENT 
  
 dated as of October 9, 2002 
  
 to 
  
 INDENTURE 
  
 dated as of October 9, 2002 
  

 TABLE OF CONTENTS 
  

	 	  	 	  	Page

	 	  	 ARTICLE I
 Definitions and Other Provisions of General Application
	  	 
			
	 Section 1.01.
	  	Definitions	  	1
			
	 Section 1.02.
	  	Governing Law	  	7
			
	 Section 1.03.
	  	Counterparts	  	7
			
	 Section 1.04.
	  	Ratification of Indenture, the Asset Pool 1 Supplement and Indenture Supplement	  	7
			
	 	  	 ARTICLE II
 The Class A(2003-7) Notes
	  	 
			
	 Section 2.01.
	  	Creation and Designation	  	8
			
	 Section 2.02.
	  	Adjustments to Required Subordinated Percentages	  	8
			
	 Section 2.03.
	  	Interest Payment	  	8
			
	 Section 2.04.
	  	Calculation Agent; Determination of LIBOR	  	9
			
	 Section 2.05.
	  	Payments of Interest and Principal	  	9
			
	 Section 2.06.
	  	Form of Delivery of Class A(2003-7) Notes; Depository; Denominations	  	10
			
	 Section 2.07.
	  	Delivery and Payment for the Class A(2003-7) Notes	  	10
			
	 Section 2.08.
	  	Targeted Deposits to the Accumulation Reserve Account	  	10
			
	 Section 2.09.
	  	Capital One Derivative Agreement	  	10
			
	 Section 2.10.
	  	Tax Treatment	  	11

  
  

 -i- 

 THIS CLASS A(2003-7) TERMS DOCUMENT (this “Terms Document”), by and between CAPITAL ONE
MULTI-ASSET EXECUTION TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at E. A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road, Wilmington, DE
19805 and THE BANK OF NEW YORK, a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of November 21, 2003. 
  
 Pursuant to this Terms Document, the Issuer shall create a new tranche of Class A Notes and shall specify the principal
terms thereof. 
  
 ARTICLE I 
  
 Definitions and Other Provisions of General Application 
  
 Section 1.01. Definitions. For all purposes of this Terms Document,
except as otherwise expressly provided or unless the context otherwise requires: 
  

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

  

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

  

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

  

	 	(4)	all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions
of this Terms Document; 

  

	 	(5)	the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular
Article, Section or other subdivision; 

  

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

  

	 	(7)	each capitalized term defined herein shall relate only to the Class A(2003-7) Notes and no other Tranche of Notes issued by the Issuer; and 

  

 1 

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

  
 “Accumulation Period Amount” means $62,500,000.00;
provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in
the definition of “Accumulation Period Amount” in the Indenture Supplement. 
  
 “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period Length is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the
period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class
A(2003-7) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the first Distribution Date following and including the October 2006 Distribution Date for which the Quarterly Excess Spread Percentage
is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 12 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding
sub-Account for the Class A(2003-7) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (iii) the Monthly Period following the first Distribution Date following and including the April 2007 Distribution Date for which the Quarterly
Excess Spread Percentage is less than 3%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 6 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into
the Principal Funding sub-Account for the Class A(2003-7) Notes pursuant to Section 3.10(b) of the Indenture Supplement, and (iv) the Monthly Period following the first Distribution Date following and including the June 2007 Distribution Date
for which the Quarterly Excess Spread Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 4 months prior to the first Distribution Date for which a budgeted deposit is
targeted to be made into the Principal Funding sub-Account for the Class A(2003-7) Notes pursuant to Section 3.10(b) of the Indenture Supplement and (y) ending on the close of business on the last day of the Monthly Period preceding the
earlier to occur of (i) the Expected Principal Payment Date for the Class A(2003-7) Notes and (ii) the date on which the Class A(2003-7) Notes are paid in full. 
  

“Asset Pool 1 Supplement” means the Asset Pool 1 Supplement dated as of October 9, 2002, by and between the Issuer and the Indenture
Trustee, as amended and supplemented from time to time. 
  
 “Base Rate” means, with respect to any Monthly Period, the sum of (a) the Card Series Servicing Fee Percentage and (b) the weighted average (based on the Outstanding Dollar Principal Amount of the related Card Series Notes)
of the following: 
  
 (i) in the case of a
Tranche of Card Series Dollar Interest-bearing Notes with no Derivative Agreement for interest, the rate of interest applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series
Dollar Interest-bearing Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing Notes in the following Monthly Period; 
  

 2 

 (ii) in the case of a Tranche of Card Series Discount Notes, the rate of accretion
(converted to an accrual rate) of such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Discount Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such
Tranche of Card Series Discount Notes in the following Monthly Period; 
  
 (iii) in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue (prior to the netting
of such payments, if applicable) for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series
Notes in the following Monthly Period; provided, however, that in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement for interest in which the rating on such Tranche of Card Series Notes is not dependant upon the
rating of the applicable Derivative Counterparty, the amount determined pursuant to this clause (iii) will be the higher of (1) the rate determined pursuant to this clause (iii) above and (2) the rate of interest applicable to such Tranche for the
period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; and

  
 (iv) in the case of a tranche of Card Series
Notes with a non-Performing Derivative Agreement for interest, the rate specified for that date in the related Terms Document. 
  
 “Calculation Agent” is defined in Section 2.04(a). 
  
 “Class A(2003-7) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event
with respect to the Class A(2003-7) Notes or (b) an Event of Default and acceleration of the Class A(2003-7) Notes. 
  
 “Class A(2003-7) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated
therein as a Class A(2003-7) Note and duly executed and authenticated in accordance with the Indenture. 
  
 “Class A(2003-7) Noteholder” means a Person in whose name a Class A(2003-7) Note is registered in the Note Register. 
  
 “Class A(2003-7) Termination Date” means the earliest to
occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2003-7) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to
Article VI thereof. 
  
 “Excess Spread
Percentage” shall mean, with respect to any Distribution Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
  

 3 

 “Expected Principal Payment Date” means November 17, 2008. 
  
 “Initial Dollar Principal Amount” means $750,000,000.

  
 “Indenture” means the Indenture dated as of
October 9, 2002, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
  
 “Indenture Supplement” means the Card Series Indenture Supplement dated as of October 9, 2002, by and between the Issuer and the
Indenture Trustee, as amended and supplemented from time to time. 
  
 “Interest Payment Date” means the fifteenth day of each month commencing in December 2003, or if such fifteenth day is not a Business Day, the next succeeding Business Day. 
  
 “Interest Period” means, with respect to any Interest
Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and including the Issuance Date) through the day preceding such Interest Payment Date. 
  
 “Issuance Date” means November 21, 2003. 
  
 “Legal Maturity Date” September 15, 2011. 
  
 “LIBOR” means, for any Interest Period, the London interbank
offered rate for one-month United States dollar deposits determined by the Indenture Trustee on the LIBOR Determination Date for each Interest Period in accordance with the provisions of Section 2.04. 
  
 “LIBOR Determination Date” means November 19, 2003 for the
period from and including the Issuance Date to but excluding December 15, 2003 and the second London Business Day prior to the commencement of the second and each subsequent Interest Period. 
  
 “London Business Day” means any Business Day on which
dealings in deposits in United States Dollars are transacted in the London interbank market. 
  
 “Maximum Subordination Amount of Class B Notes” means, for the Class A(2003-7) Notes for any date of determination, an amount equal to the product of (a) Adjusted Outstanding Dollar Principal Amount
of the Class A(2003-7) Notes on such date of determination and (b) the percentage equivalent of a fraction, the numerator of which is 10 and the denominator of which is 81.25. 
  
 “Note Interest Rate” means a rate per annum equal to 0.18% in excess of LIBOR as determined by the
Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
  
 “Paying Agent” means The Bank of New York. 
  
 “Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction: 
  
  

 4 

 (a) the numerator of which is equal to the sum of: 
  
 (i) the aggregate amount of Finance Charge Amounts allocated
to the Card Series with respect to such Monthly Period; plus 
  
 (ii) the aggregate amount of Interest Funding sub-Account Earnings on all Tranches of Card Series Notes for such Monthly Period; plus 
  
 (iii) any amounts to be treated as Card Series Finance Charge Amounts pursuant to Sections 3.20(d)
and 3.27(a) of the Indenture Supplement; minus 
  
 (iv) the excess, if any, of (1) the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over (2) the sum of the aggregate amount to be treated as Card Series Finance Charge
Amounts for such Monthly Period pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche
of Card Series Notes for such Monthly Period; minus 
  
 (v) the Card Series Default Amount for such Monthly Period; and 
  
 (b) the denominator of which is the numerator used in the calculation of the Card Series Floating Allocation Percentage for such Monthly Period.

  
 “Quarterly Excess Spread Percentage” means,
with respect to the October 2006 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three
Monthly Periods and the denominator of which is three. 
  
 “Record Date” means, for any Distribution Date, the last Business Day of the preceding Monthly Period. 
  
 “Reference Banks” means four major banks in the London interbank market selected by the Beneficiary. 
  
 “Required Accumulation Reserve sub-Account Amount” means,
with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2003-7) Notes as of the close of business on the last day of the preceding
Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not
occur with respect to such change. 
  
 “Required
Subordinated Amount of Class B Notes” means, for the Class A(2003-7) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class B Notes for such Class A(2003-7) Notes on such
date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2003-7) Notes on such date of determination; provided, however, that such an amount shall not exceed the 
  

 5 

 Maximum Subordination Amount of Class B Notes for the Class A(2003-7) Notes; provided further,
however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2003-7) Adverse Event, the Required Subordinated Amount of Class B Notes for the Class A(2003-7) Notes will be the greater of (x)
the amount determined above for such date of determination and (y) the amount determined above for the date immediately prior to the date on which such Class A(2003-7) Adverse Event shall have occurred. 
  
 “Required Subordinated Amount of Class C Notes” means, for
the Class A(2003-7) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class C Notes for such Class A(2003-7) Notes on such date of determination and (b) the Adjusted Outstanding Dollar
Principal Amount of such Class A(2003-7) Notes on such date of determination; provided, however, that for any date of determination, unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of
determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the Required Subordinated Amount of Class C Notes for the Class
A(2003-7) Notes will not be less than an amount equal to (i) 3.0% of the Initial Dollar Principal Amount of the Class A(2003-7) Notes, minus (ii) the Required Subordinated Amount of Class D Notes for the Class A(2003-7) Notes; provided
further, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2003-7) Adverse Event, the Required Subordinated Amount of Class C Notes for the Class A(2003-7) Notes will be the
greater of (x) the amount determined above for such date of determination, (y) the amount determined above for the date immediately prior to the date on which such Class A(2003-7) Adverse Event shall have occurred and (z) unless (i) the
Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card
Series Notes, the amount determined pursuant to the preceding proviso. 
  
 “Required Subordinated Amount of Class D Notes” means, for the Class A(2003-7) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class D Notes for such Class
A(2003-7) Notes on such date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2003-7) Notes on such date of determination; provided, however, that for any date of determination, unless (i) the
Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card
Series Notes, the Required Subordinated Amount of Class D Notes for the Class A(2003-7) Notes will not be less than an amount equal to 1.8462% of the Initial Dollar Principal Amount of the Class A(2003-7) Notes, provided further,
however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2003-7) Adverse Event, the Required Subordinated Amount of Class D Notes for the Class A(2003-7) Notes will be the greatest of (x)
the amount determined above for such date of determination, (y) the amount determined above for the date immediately prior to the date on which such Class A(2003-7) Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount
for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the amount
determined pursuant to the preceding proviso. 
  

 6 

 “Required Subordinated Percentage of Class B Notes” means, for the Class A(2003-7)
Notes, 12.3077%, subject to adjustment in accordance with Section 2.02. 
  
 “Required Subordinated Percentage of Class C Notes” means, for the Class A(2003-7) Notes, 8.9231%, subject to adjustment in accordance with Section 2.02. 
  
 “Required Subordinated Percentage of Class D Notes” means,
for the Class A(2003-7) Notes, 1.8462%, subject to adjustment in accordance with Section 2.02. 
  
 “Stated Principal Amount” means $750,000,000. 
  
 “Telerate Page 3750” means the display page currently so designated on the Moneyline Telerate Service (or such other page as may replace
that page on that service for the purpose of displaying comparable rates or prices). 
  
 Section 1.02. Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT REFERENCE
TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  
 Section 1.03. Counterparts. This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an
original, but all such counterparts will together constitute but one and the same instrument. 
  
 Section 1.04. Ratification of Indenture, the Asset Pool 1 Supplement and Indenture Supplement. As supplemented by this Terms Document, each of the Indenture, the Asset Pool 1 Supplement and the Indenture
Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset Pool 1 Supplement as so supplemented by the Indenture Supplement as so supplemented and this Terms Document shall be read, taken and construed as
one and the same instrument. 
  
 [END OF ARTICLE I] 
  
  

 7 

 ARTICLE II 
  
 The Class A(2003-7) Notes 
  
 Section 2.01. Creation and Designation. There is hereby created a tranche of Card Series Class A Notes to be issued pursuant to the Indenture, the
Asset Pool 1 Supplement and the Indenture Supplement to be known as the “Card Series Class A(2003-7) Notes.” 
  
 Section 2.02. Adjustments to Required Subordinated Percentages. 
  
 (a) On any date, the Issuer may change the Required Subordinated Percentage of Class B Notes or the Required Subordinated
Percentage of Class C Notes, in each case for the Class A(2003-7) Notes, without the consent of any Noteholders or any Note Rating Agencies, provided that, after giving effect to such change, (x) the sum of the Required Subordination Percentage of
Class B Notes and the Required Subordinated Percentage of Class C Notes, in each case, for the Class A(2003-7) Notes after giving effect to such change is equal to or greater than the sum of the Required Subordination Percentage of Class B Notes and
the Required Subordinated Percentage of Class C Notes, in each case, for the Class A(2003-7) Notes immediately prior to giving effect to such change and (y) the Required Subordinated Amount of Class B Notes for the Class A(2003-7) Notes does not
exceed the Maximum Subordinated Amount of Class B Notes. 
  
 (b)
On any date, the Issuer may change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2003-7) Notes,
such that after giving effect to all changes to such percentages on such date the sum of the Required Subordination Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes and the Required Subordinated Amount of Class D
Notes, in each case, for the Class A(2003-7) Notes after giving effect to such change is less than the sum of the Required Subordination Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes and the Required Subordinated
Amount of Class D Notes, in each case, for the Class A(2003-7) Notes immediately prior to giving effect to such change, without the consent of any Noteholders, provided that the Issuer has (i) received written confirmation from each Note Rating
Agency that has rated any Outstanding Notes of the Card Series that the change in such percentage will not result in a Ratings Effect with respect to any Outstanding Class A(2003-7) Notes and (ii) delivered to the Indenture Trustee and the Note
Rating Agencies a Master Trust Tax Opinion for each Master Trust and an Issuer Tax Opinion. 
  
 Section 2.03. Interest Payment. 
  
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class A(2003-7) Notes shall be an amount equal to the product of (i)(A) a fraction, the numerator of which is the actual number of days in the related
Interest Period and the denominator of which is 360, times (B) the Note Interest Rate in effect with respect to the related Interest Period, times (ii) the Outstanding Dollar Principal Amount of the Class A(2003-7) Notes determined as
of the Record Date preceding the related Distribution Date. Any interest on the Class A(2003-7) Notes will be calculated on the basis of the actual number of days in the related Interest Period and a 360-day year. 
  

 8 

 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Distribution Date, the Indenture
Trustee shall deposit into the Class A(2003-7) Interest Funding sub-Account the portion of Card Series Available Finance Charge Amounts allocable to the Class A(2003-7) Notes. 
  
 Section 2.04. Calculation Agent; Determination of LIBOR. 
  
 (a) The Issuer hereby agrees that for so long as any Class A(2003-7) Notes
are Outstanding, there shall at all times be an agent appointed to calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuer hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes
of determining LIBOR for each Interest Period. The Calculation Agent may be removed by the Issuer at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if the Calculation Agent fails to determine
LIBOR for an Interest Period, the Issuer shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuer or its Affiliates. The Calculation Agent may not resign its duties,
and the Issuer may not remove the Calculation Agent, without a successor having been duly appointed. 
  
 (b) On each LIBOR Determination Date, the Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a
one-month period which appears on Telerate Page 3750 as of 11:00 a.m., London time, on such date. If such rate does not appear on Telerate Page 3750, the rate for that LIBOR Determination Date 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 a one-month period. The Calculation Agent shall request the principal London
office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that LIBOR Determination Date shall be the arithmetic mean of the quotations. If fewer than two quotations are
provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by four major banks in New York City, selected by the Beneficiary, 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 one-month period. 
  
 (c) The Note Interest Rate applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning the Indenture Trustee at its corporate trust office at (212) 815-3247 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 Noteholder from time to time. 
  
 (d) On each LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee, the Issuer and the
Beneficiary, by facsimile transmission, notification of LIBOR for the following Interest Period. 
  
 Section 2.05. Payments of Interest and Principal. 
  
 (a) Any installment of interest or principal, if any, payable on any Class A(2003-7) Note which is punctually paid or duly provided for by the Issuer and
the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2003-7) Note (or one or more Predecessor Notes) is registered on the Record Date, by
wire transfer of immediately available funds to such Person’s 
  

 9 

 account as has been designated by written instructions received by the Paying Agent from such Person not later than the
close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record
Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
  
 (b) The right of the Class A(2003-7) Noteholders to receive payments from the
Issuer will terminate on the first Business Day following the Class A(2003-7) Termination Date. 
  
 Section 2.06. Form of Delivery of Class A(2003-7) Notes; Depository; Denominations. 
  
 (a) The Class A(2003-7) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202
and 301(i) of the Indenture, respectively. 
  
 (b) The
Depository for the Class A(2003-7) Notes shall be The Depository Trust Company, and the Class A(2003-7) Notes shall initially be registered in the name of Cede & Co., its nominee. 
  
 (c) The Class A(2003-7) Notes will be issued in minimum denominations of $1,000 and integral multiples of that amount.

  
 Section 2.07. Delivery and Payment for the Class A(2003-7)
Notes. The Issuer shall execute and deliver the Class A(2003-7) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2003-7) Notes when authenticated, each in accordance with Section 303
of the Indenture. 
  
 Section 2.08. Targeted Deposits to the
Accumulation Reserve Account. 
  
 The deposit targeted to be
made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 
  
 Section 2.09. Capital One Derivative Agreement. 
  
 (a) On any Distribution Date, any amount owed by the Issuer pursuant to the
ISDA Master Agreement, dated as of October 9, 2002, as supplemented by the Schedule thereto, dated as of October 9, 2002, and the Confirmation thereto relating to the Class A(2003-7) Notes, dated as of November 21, 2003 (collectively, the
“Capital One Derivative Agreement”), each between Capital One Bank and the Issuer, shall be paid to Capital One Bank from Card Series Finance Charge Amounts (available after giving effect to Sections 3.01(a) through
(l) of the Indenture Supplement) for such Distribution Date in an amount not to exceed the lesser of (i) the product of (x) the amount of Card Series Finance Charge Amounts available for application pursuant to Section 3.01(m) of the
Indenture Supplement times (y) a fraction, the numerator of which is the Nominal Liquidation Amount of the Class A(2003-7) Notes as of the close of business on the last day of the preceding Monthly Period and the denominator of which is the
Nominal Liquidation Amount of all tranches of Card Series Notes as of the close of business on the last day 
  

 10 

 of the preceding Monthly Period and (ii) the amount of such payment owed by the Issuer to Capital One Bank on such
Distribution Date. 
  
 (b) On any Distribution Date, any amount
owed to the Issuer pursuant to the Capital One Derivative Agreement shall be, when received by the Issuer, treated as Card Series Finance Charge Amounts for the purposes of Section 3.01(n) of the Indenture Supplement. 
  
 (c) The Capital One Derivative Agreement shall not be considered a
“Derivative Agreement” (as such term is defined in the Indenture) for the purposes of Indenture, the Asset Pool Supplement or the Indenture Supplement. 
  
 Section 2.10. Tax Treatment. Notwithstanding any other express or implied agreement to the contrary, each of the
Issuer and the Class A(2003-7) Noteholders are hereby deemed to agree that they and any recipient of the Prospectus Supplement dated November 14, 2003 and the Prospectus dated November 12, 2003, each relating to the Class A(2003-7) Notes (or their
employees, representatives, or other agents), may disclose to any and all persons, without limitation of any kind, the Tax Treatment and Tax Structure of any transaction relating to the Issuer or the Class A(2003-7) Notes and all materials of any
kind (including opinions or other tax analyses) that are provided to any of them relating to such Tax Treatment and Tax Structure. For purposes of this Section 2.10, “Tax Treatment” refers to the purported or claimed
treatment of the Issuer and the Class A(2003-7) Notes under the Internal Revenue Code or applicable state or local tax law, and “Tax Structure” refers to any fact that may be relevant to understanding such Tax Treatment. It is
hereby confirmed that each of the foregoing have been deemed to so agree since the commencement of discussions regarding the Class A(2003-7) Notes. 
  
 [END OF ARTICLE II] 
  

 11 

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

	 CAPITAL ONE MULTI-ASSET EXECUTION TRUST, by DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity, but
solely as Owner Trustee on behalf of the Trust
  

		
	By:	 	             /s/    MICHELE
VOON            
	 	

	 	 	 Name:
 Title:
	 	 Michele Voon
 Attorney-in-Fact

  
  

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

		
	By:	 	            /s/    ALLISON R.
CLAN            
	 	

	 	 	 Name:
 Title:
	 	 Allison R. Clan
 Assistant
Treasurer

  
 [Signature Page
to the Class A(2003-7) Terms Document]

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