Document:

Exhibit 4.5

SCHEDULE

to the

2002

Master Agreement

dated as of June 28,
2007

between BANK OF AMERICA, N.A.,

a national banking association organized under the laws of the United
States (“Party A”)

and

GE CAPITAL CREDIT CARD MASTER NOTE TRUST,

 a statutory trust organized under the laws of
the State of Delaware

(“Party B”)

Part 1

Termination
Provisions

The only Transaction that will be governed by the
terms of this Agreement will be the Class A Swap (as defined in the Indenture
Supplement) as documented in the Confirmation, dated as of the date
hereof.  Reference to “Transactions” or “Transaction”
shall be deemed to be reference to the Class A Swap.

In this Agreement —

(a)                                  “Specified
Entity” means in relation to Party A and Party B for the purpose
of Sections 5(a)(v), (vi), (vii) and Section 5(b)(v): Not applicable.

(b)                                 “Specified
Transaction” will have the meaning specified in Section 14 of
this Agreement.

(c)                                  The “Breach of Agreement” provision of Section 5(a)(ii)
will not apply to Party B.

(d)           The “Credit
Support Default” provision of Section 5(a)(iii) will not apply
to Party B.

(e)                                  The
“Misrepresentation” provision of
Section 5(a)(iv) will not apply to Party B.

(f)                                    The
“Default Under Specified Transactions”
provision of Section 5(a)(v) will not apply to Party A and will not apply to
Party B.

(g)                                 The
“Cross Default” provisions of
Section 5(a)(vi) will apply to Party A and will not apply to Party B.

“Specified Indebtedness” will have the meaning
specified in Section 14, provided that Specified Indebtedness shall not include
deposits received in the course of a party’s ordinary banking business.

“Threshold Amount” means, with
respect to Party A (or its Credit Support Provider), (3%) three percent of the
Shareholders’ Equity of Bank of America Corporation as described in its most
recently published audited financial statement or its equivalent in any
currency.

“Shareholders’
Equity”  means with respect to an entity, at any time, the sum
(as shown in the most recent annual audited financial statements of such entity)
of (i) its capital stock (including preferred stock) outstanding, taken at par
value, (ii) its capital surplus and (iii) its retained earnings, minus (iv)
treasury stock, each to be determined in accordance with generally accepted
accounting principles.

(h)                                 The “Bankruptcy” provision of Section
5(a)(vii) will apply; provided that with respect to Party B the
provisions of Section 5(a)(vii) clauses (2), (7) and (9) will not be applicable
as an Event of Default; clause (3) will not apply to Party B to the extent it
refers to any assignment, arrangement or composition that is effected by or
pursuant to the Indenture; clause (4) will not apply to Party B to the extent
that it refers to proceedings or petitions instituted or presented by Party A
or any of its Affiliates; clause(6) will not apply to Party B to the extent
that it refers to (i) any appointment that is contemplated or effected by the
Indenture (as defined herein) or (ii) any appointment that Party B has not
become subject to); clause (8) will not apply to Party B to the extent that it
applies to Section 5(a)(vii)(2), (4), (6), and (7) (except to the extent that
such provisions are not disapplied with respect to Party B).

(i)                                     The “Force Majeure Event” provision of
Section 5(b)(ii) will not apply to Party A and will not apply to Party B.

(j)                                     The
“Credit Event Upon Merger”
provisions of Section 5(b)(v) will not apply to Party A and will not apply to
Party B.

(k)                                  “Tax Event Upon Merger” does not apply to Party A but
does apply to Party B as Burdened Party. 
Section 6(b)(ii) will apply, provided that the words “or if a Tax Event
Upon Merger occurs and the Burdened Party is the Affected Party” shall be
deleted.

(l)                                     The
“Tax Event” provisions of Section
5(b)(iii) will apply, provided that the words “(x) any action taken by a taxing
authority, or brought in a court of competent jurisdiction, on or after the
date on which a Trasanction is entered into (regardless of whether such action
is taken or brought with respect to a party to this Agreement) or (y)” shall be
deleted.

(m)                               The
“Automatic Early Termination”
provisions of Section 6(a) will not apply to Party A and will not apply to
Party B.

(n)                                 “Termination Currency” means United
States Dollars.

(o)                                 Additional Termination Event  will
apply.  Each of the following shall
constitute an Additional Termination Event:

(i)
            Fitch Credit Downgrade.  If at any time the unsecured
debt rating of Party A, or its Credit Support Provider, is withdrawn by or
reduced below “A” (long term) or “F1” (short term) if Party A is rated by Fitch
Ratings (“Fitch”); (a “Fitch Downgrade”); then Party A shall
promptly notify Party B by telephone (promptly confirmed in writing), and Party
B then shall notify the Rating Agencies. 
Party A shall then, at its own expense, within 30 days of the date of
the Fitch Downgrade, subject to Part 5(r), enter into a “Qualifying Substitute
Arrangement” (as defined below) to assure performance by Party A of its
obligations under the Transactions.  If
Party A fails to enter into a Qualifying Substitute Arrangement pursuant to
this provision, it shall be an Additional Termination Event in which Party A is
the sole Affected Party.

(ii)           S&P Credit Downgrade.

(A)  With respect to Party A, or
its Credit Support Provider, if such entity is a Financial Institution, if at
any time the unsecured debt ratings of such entity, are reduced below “A+”
(long term) or, if a short term rating is in effect for such party, below “A-1”
(short term) by Standard & Poor’s Rating Services (“S&P”) (an “S&P
Approved Ratings Downgrade”); then Party A shall promptly notify Party B by
telephone (promptly confirmed in writing), and Party B then shall notify the
Rating Agencies.  Party A shall then, at
its own expense, comply with or perform any obligation to be complied
with or performed by Party A in accordance with the Credit Support Annex.  At any time during the continuance of an S&P
Approved Ratings Downgrade, in addition to complying with the Credit
Support Annex, Party A may, at its own expense, subject to Part 5(r),
enter into any other “Qualifying Substitute Arrangement” (as defined below) to
assure performance by Party A of its obligations under the Transactions.  If Party A fails to enter into a Qualifying
Substitute Arrangement within 10 Business Days pursuant to this provision, it
shall be an Additional Termination Event in which Party A is the sole Affected
Party.

(B)  In addition, (i) with
respect to Party A, or its Credit Support Provider, if such entity is a
Financial Institution, if at any time the unsecured debt rating of such entity
is withdrawn or reduced below “BBB+” (long term) or “A-2” (short term) by
S&P or (ii) with respect to such party, that is not a Financial
Institution, if at any time the unsecured debt rating of Party A is withdrawn
or reduced below “A+” (long term) or “A-1” (short term) by S&P (an “S&P
Required Ratings Downgrade”); then Party A shall promptly notify Party B by
telephone (promptly confirmed in writing), and Party B then shall notify the
Rating Agencies.  Party A shall then, at
its own expense, (x) comply with or perform any obligation to be complied
with or performed by Party A in accordance with the Credit Support Annex and (y) within
60 days of the date of the S&P Required Ratings Downgrade subject to Part
5(r), enter into a Qualifying Substitute Arrangement to assure performance by
Party A of its obligations under the Transactions or otherwise procure the
Ratings Reaffirmation.  If Party A fails
to comply with the Credit Support Annex or fails to enter into a Qualifying
Substitute Arrangement pursuant to this provision, it shall be an Additional
Termination Event in which Party A is the sole Affected Party.

“Credit Support”
shall mean (i) collateral posted pursuant to the Credit Support Annex or (ii)
an unconditional letter of credit, guaranty, surety bond or insurance policy
providing for prompt payment of the obligations of Party A and its successors
under this Agreement, as amended from time to time, and all Transactions
hereunder for their duration from a Credit Support Provider meeting the Counterparty
Ratings Requirements, that is valid, binding and enforceable in accordance with
its terms. 
Notwithstanding the
forgoing sentence, posting collateral pursuant the Credit Support Annex shall
not be sufficient “Credit Support” for Party A

if at any time the unsecured debt rating of Party A, or its Credit
Support Provider, that is a Financial Institution is withdrawn or reduced below
“BBB+” (long term) or “A-2” (short term) by S&P and if Party A, or its
Credit Support Provider, is not a Financial Institution; the unsecured debt
rating is withdrawn or reduced below “A+” (long term) or “A-1” (short term) by
S&P as set forth in the immediately preceding paragraph.

“Counterparty Ratings Requirement” means with respect to any
entity, that either such entity or the Credit Support Provider, has (i) (a) a
Moody’s long-term unsecured debt rating or counterparty rating of at least “Aa3”,
and if a short term rating has been provided, such rating shall be at least “P-1”,
and (ii) an S&P long-term unsecured debt rating or counterparty rating of
at least “A+”, and if a short term rating has been provided, such rating shall
be at least “A-1”; and, notwithstanding the foregoing, if such entity or its
Credit Support Provider, has a Fitch short-term unsecured debt rating, such
rating shall be at least “F1” and if such entity or its Credit Support Provider
has a Fitch long-term unsecured debt rating, such rating shall be at least “A”.

“Financial Institution” means a bank, broker/dealer, insurance
company, structured investment vehicle or derivative product company.

“Qualifying Substitute Arrangement” shall mean one of the
following arrangements satisfactory to Party B: 
(i) providing Credit Support to Party B and procure a Ratings
Reaffirmation or (ii) procuring a Replacement Transaction and a Ratings
Reaffirmation or (iii) satisfying any other remedy permitted by
the applicable Rating Agency and procure a Ratings Reaffirmation.

“Ratings Reaffirmation” means a written acknowledgement from
each Rating Agency (with the exception of Moody’s who shall be notified in
writing on any Qualifying Substitute Arrangement), (i) the then current rating
of the Notes will not be reduced or withdrawn notwithstanding the applicable
downgrade or applicable assignments, amendment, modification or waiver in
respect of this Agreement, or (ii) the rating of the Notes in effect prior to a
downgrade will be reinstated to the rating in effect prior to the downgrade.

“Replacement Transaction” means a transaction,
with a replacement counterparty meeting the Counterparty Rating Requirement
who, at no cost to Party B, shall assume Party A’s position under this
Agreement and all Transactions hereunder or replace all Transactions
outstanding under this Agreement with Transactions between said replacement counterparty
and Party B on identical terms.

(iii)          Moody’s First Rating Trigger Collateral.  Party A has failed to comply with or perform
any obligation to be complied with or performed by Party A in accordance with
the Credit Support Annex entered into between Party A and Party B in relation
to this Agreement and either (x) the Moody’s Second Rating Trigger Requirements
do not apply or (y) less than 30 Local Business Days have elapsed since the
last time the Moody’s Second Rating Trigger Requirements did not apply.

(iv)          (Moody’s Second Rating Trigger Replacement.  (x) The Moody’s Second Rating Trigger
Requirements apply and 30 or more Local Business Days have elapsed since the
last time the Moody’s Second Rating Trigger Requirements did not apply and (y)
at least one Eligible Replacement has made a Firm Offer that would, assuming
the occurrence of an Early Termination Date, qualify as an Eligible Firm Offer
(on the basis

that paragraphs (ii) and (iii) in Part 5(s) below
apply) and which remains capable of becoming legally binding upon acceptance.

“Eligible Guarantee” means an unconditional and
irrevocable guarantee that is provided by a guarantor as principal debtor
rather than surety and is directly enforceable by Party B, where either (A) a
law firm has given a legal opinion confirming that none of the guarantor’s
payments to Party B under such guarantee will be subject to withholding for Tax
and such opinion has been delivered to Moody’s, (B) such guarantee provides
that, in the event that any of such guarantor’s payments to Party B are subject
to withholding for Tax, such guarantor is required to pay such additional
amount as is necessary to ensure that the net amount actually received by Party
B (free and clear of any withholding tax) will equal the full amount Party B
would have received had no such withholding been required or (C) in the even
that any payment under such guarantee is made net of deduction or withholding
for Tax, Party A is required, under Section 2(a)(i), to make such additional
payment as is necessary to ensure that the net amount actually received by
Party B from the guarantor will equal the full amount Party B would have
received had no such deduction or withholding been required.

“Eligible Replacement” means an entity (A) with
the Moody’s First Trigger Required Ratings and/or the Moody’s Second Trigger
Required Ratings or (B) whose present and future obligations owing to Party B
are guaranteed pursuant to an Eligible Guarantee provided by a guarantor with
the Moody’s First Trigger Required Ratings and/or the Moody’s Second Trigger
Required Ratings.

“Firm Offer” means an offer which, when made,
was capable of becoming legally binding upon acceptance.

“Moody’s Short-term Rating” means a rating
assigned by Moody’s under its short-term rating scale in respect of an entity’s
short-term, unsecured and unsubordinated debt obligations.

“Relevant Entities” means Party A and any
guarantor under an Eligible Guarantee in respect of all of Party A’s present
and future obligations under this Agreement.

(A)          The
“Moody’s First Rating Trigger Requirements” shall apply so long as no Relevant
Entity has the Moody’s First Trigger Required Ratings.

An entity shall have the “Moody’s First Trigger
Required Ratings” (x) where such entity is the subject of a Moody’s
Short-term Rating, if such rating is “Prime-1” and its long-term, unsecured and
unsubordinated debt obligations are rated “A2” or above by Moody’s and (y)
where such entity is not the subject of a Moody’s Short-term Rating, if its
long-term, unsecured and unsubordinated debt obligations are rated “A1” or
above by Moody’s.

(B)           So long as the Moody’s
First Rating Trigger Requirements apply, Party A will at its own cost use
commercially reasonable efforts to, as soon as reasonably practicable, (x)
procure an Eligible Guarantee in respect of all of Party A’s present and future
obligations under this Agreement to be provided by a guarantor with the Moody’s
First Trigger Required Ratings, (y) transfer to Party B the amount of
Eligible Collateral required under the Credit Support Annex or (y) transfer
this Agreement in accordance with Part 5(r) below.

(C)           The
“Moody’s Second Rating Trigger Requirements” shall apply so long as no Relevant
Entity has the Moody’s Second Trigger Required Ratings.

An entity shall have the “Moody’s Second Trigger
Required Ratings” (x) where such entity is the subject of a Moody’s
Short-term Rating, if such rating is “Prime-2” or above and its long-term,
unsecured and unsubordinated debt obligations are rated “A3” or above by Moody’s
and (y) where such entity is not the subject of a Moody’s Short-term Rating, if
its long-term, unsecured and unsubordinated debt obligations are rated “A3” or
above by Moody’s.

(D)          So long as the Moody’s Second Rating
Trigger Requirements apply, Party A will at its own cost use commercially
reasonable efforts to, as soon as reasonably practicable, either (x) procure an
Eligible Guarantee in respect of all of Party A’s present and future
obligations under this Agreement to be provided by a guarantor with the Moody’s
First Trigger Required Ratings and/or the Moody’s Second Trigger Required
Ratings or (y) transfer this Agreement in accordance with Part 5(r) below.

In the event of an Early
Termination Date in respect of a Party A Downgrade, a Moody’s First Rating Trigger
Replacement or a Moody’s Second Rating Trigger Replacement and the entering
into by Party B of alternative swap arrangements, Party A shall pay all
reasonable out-of-pocket expenses, including legal fees and stamp taxes,
relating to the entering into of such alternative swap arrangements.

(iv)          Failure
by Party A to comply with or perform in all material respects any agreement or
undertaking to be complied with or performed by the Swap Provider in accordance
with the Indemnification and Disclosure Agreement dated as of June 28, 2007
between Party A and RFS Holding, L.L.C., with Party A as the sole Affected
Party.

(p)           Discontinued Agency. 
If one of the foregoing credit rating agencies ceases to be in the
business of rating Debt Securities and such business is not continued by a
successor or assign of such agency (“Discontinued Agency”) ratings shall not be
deemed withdrawn hereunder, and Party A and Party B shall use their best
efforts to  jointly (i) select a
nationally-recognized credit rating agency in substitution thereof and (ii)
agree on the rating level issued by such substitute agency that is equivalent
to the ratings specified herein of the Discontinued Agency, whereupon such
substitute agency and equivalent rating shall replace the Discontinued Agency
and the rating level thereof for the purposes of this Agreement. If at any time
all of the agencies specified herein with respect to a party have become
Discontinued Agencies and Party A and Party B have not previously agreed in
good faith on at least one agency and equivalent rating in substitution for
each Discontinued Agency and the applicable rating thereof, the downgrade
provisions of Part 1(o) shall cease to apply to the parties until a substitute
agency is agreed upon as described above.

Part 2

Tax Representations

(a)                                  Payer Tax Representation.  For the purpose of Section 3(e) of this
Agreement, Party A and Party B make the following representation:

It is not required
by applicable law, as modified by the practice of any relevant governmental revenue
authority, of any Relevant Jurisdiction to make any deduction or withholding
for or on account of any Tax from any payment (other than interest under
Section9(h) of this Agreement) to be made by it to the other party under this
Agreement.  In making this
representation, it may rely on:

(i)            the accuracy of any representations
made by the other party pursuant to Section 3(f) of this Agreement;

(ii)           the satisfaction of the agreement of
the other party contained in Section 4(a)(i) or 4(a)(iii) of this Agreement and
the accuracy and effectiveness of any document provided by the other party
pursuant to Section 4(a)(i) or 4(a)(iii) of this Agreement; and

(iii)          the satisfaction of the agreement of
the other party contained in Section 4(d) of this Agreement;

except that it
will not be a breach of this representation where reliance is placed on clause
(ii) above and the other party does not deliver a form or document under
Section 4(a)(iii) of this Agreement by reason of prejudice to its legal or
commercial position.

(b)                                 Payee Tax Representations.  For the purpose of Section 3(f) of this
Agreement, Party A and/or Party B make the representations specified below:

(i)            Party
A represents that Party A is a national banking association organized under the
laws of the United States and the federal taxpayer identification number
is94-1687665.

(ii)           Party A represents that it is a “U.S.
person” (as that term is used in section 1.1441-4(a)(3)(ii) of United States
Treasury Regulations) for United States federal income tax purposes and an “Exempt
recipient” within the meaning of section 1.6049-4(c)(1)(ii) of the United
States Treasury Regulations.

(iii)          Party B represents that it is a “U.S.
person” (as that term is used in section 1.1441-4(a)(3)(ii) of United States
Treasury Regulations) for United States federal income tax purposes.

(c)                                  Modified Tax Provisions. 
Party B’s obligations under Section 2(d)(i) of this Agreement shall be
limited to complying with clauses (1), (2) and (3) thereof and Party B shall
not be obligated to pay any amount that would otherwise be owing by it under
clause (4).  Notwithstanding the
definition of “Indemnifiable Tax” in Section 14 of this Agreement, in relation
to Payments by Party A, any Tax shall be an Indemnifiable Tax and, in relation
to payments by Party B, no Tax shall be an Indemnifiable Tax.

Part 3

Agreement to Deliver Documents

For the purpose of
Sections 4(a)(i) and (ii) of this Agreement, each Party agrees to deliver the
following documents, as applicable:

(a)                                  Tax
forms, documents or certificates to be delivered are:

	
  Party Required

  to Deliver

  Documents

  	
   

  	
  Form/Document/

  Certificate

  	
   

  	
  Date by 

  which to be

   delivered

  	
   

  	
  Covered by

  §(3)(d) 

  Representation

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Party A and Party B

  	
   

  	
  IRS Form W-9

  	
   

  	
  (i) Upon

  execution of the

  Agreement, (ii)

  upon knowledge

  that such

  document is

  obsolete or

  inaccurate and

  (iii) thereafter,

  upon request of

  the other party.

  	
   

  	
  N/A

  	
   

  

 

(b)                                 Other
documents to be delivered are:

	
  Party 

  Required

  to Deliver

  Documents

  	
   

  	
  Form/Document/

  Certificate

  	
   

  	
  Date by 

  which to be 

  delivered

  	
   

  	
  Covered by

  §(3)(d) 

  Representation

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Party A

  	
   

  	
  A copy of the most recent annual

  report of containing audited

  consolidated financial statements

  of Party A for such fiscal year

  certified by independent certified

  public accountants and prepared

  in accordance with generally

  accepted accounting principles

  (“GAAP”) in the party’s country

  of organization, or, in lieu

  thereof, a copy of such party’s

  most recent Form 10-K as filed

  with the Securities and Exchange

  Commission (if any such

  statement is produced).

  	
   

  	
  Upon request by Party B after publicly available.

  	
   

  	
  Yes

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Party A

  	
   

  	
  Quarterly Financial Statements

  of Party A containing unaudited,

  consolidated financial statements

  of such party’s fiscal quarter

  prepared in accordance with

  generally accepted accounting

  principles in the country in

  which Party A is organized.

  	
   

  	
  Upon request by Party B after publicly available.

  	
   

  	
  Yes

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Party A and Party B

  	
   

  	
  Incumbency certificate or other

  documents evidencing the

  authority of the party entering

  into this Agreement or any other

  document executed in

  connection with this Agreement.

  	
   

  	
  Concurrently with the execution of this Agreement or
  of any other documents executed in connection with this Agreement.

  	
   

  	
  Yes

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Party A and Party B

  	
   

  	
  Legal opinion in a form

  satisfactory to the other party.

  	
   

  	
  Upon or promptly following execution of the
  Agreement.

  	
   

  	
  No

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

Part 4

Miscellaneous

(a)                                  Addresses for Notices.  For the purpose of Section 12(a) of this
Agreement: 

Address for notices or communications to Party A:

Address for notice or
communications to Party A:

Bank of America,
N.A.

Sears Tower

233 South Wacker
Drive, Suite 2800

Chicago, IL 60606

Attention:  Swap Operations

Telephone
No.:  312-234-2732

Facsimile
No.:  866-255-1444

with a copy to:

Bank of America,
N.A.

100 N. Tryon St.,
NC1-007-23-16

Charlotte, North
Carolina  28255

Attention:  Global Markets Trading Agreements

Facsimile No.:
980.387.9566

Address for financial statements to Party A:

Bank of America, N.A.

Mail Code: NC1-007-13-01

100 N. Tryon Street

Charlotte, North Carolina  28255

Attention:  CMCRM-GABS/SSG

(For all purposes).

Address for notices or communications to Party B:

	
  Address:

  	
  GE Capital Credit Card Master Note Trust

  
	
   

  	
  c/o General Electric Capital Corporation, as
  Administrator

  
	
   

  	
  777 Long Ridge Road, Building B

  
	
   

  	
  Stamford, CT 06927

  
	
   

  	
   

  
	
  Attention:

  	
  Manager Operations - Securitization

  
	
  Telephone:

  	
  203-585-6838

  
	
  Facsimile:

  	
  203-585-6564

  

Address for notices or communications to Fitch:

Fitch Ratings

Attn:  Cynthia Ullrich

1 State Street Plaza 32
FL

New York, NY 10004

cynthia.ullrich@fitchratings.com

cc:  surveillance-abs-consumer@fitchratings.com

Fax:212-514-9879

Telephone:212-908-0609

(b)                                 Process Agent.  For the purpose of Section 13(c) of this
Agreement:

Party A appoints as its Process Agent: Not applicable.

Party B appoints as its Process Agent:  Not applicable.

(c)                                  Offices.  The provisions of Section 10(a) shall apply
to this Agreement.

(d)                                 Multibranch
Party.  For the purpose of
Section 10(b), Party A is a Multibranch Party and  may act through its Charlotte, North
Carolina, Chicago, Illinois, San Francisco, California, New York, New York,
Boston, Massachusetts or London, England Office.  Party B is not a Multibranch Party.

(e)                                  Calculation
Agent.  The Calculation
Agent shall be Party A.

(f)                                    Credit Support Document.  Details of any Credit Support Document:

Party A:              The
Credit Support Annex, annexed hereto and any Eligible Guarantee, if any.

Party
B:              Not applicable.

(g)                                 Credit
Support Provider.

Credit Support Provider means in relation to Party A:  Any guarantor under the Eligible Guarantee,
if any.

Credit Support
Provider means in relation to Party B: 
Not applicable.

(h)                                 Governing
Law.  This Agreement will
be governed by and construed in accordance with the laws of the State of New
York without reference to choice of law doctrine.

(i)                                     Netting of Payments.  “Multiple Transaction Payment Netting” will
not apply for the purpose of Section 2(c) of this Agreement to all Transactions
(in each case starting from the date of this Agreement).

(j)                                     “Affiliate” will have the meaning
specified in Section 14; provided that Party B is deemed to have no Affiliates.

(k)                                  Absence of Litigation. For the
purpose of Section 3(c):—

“Specified Entity” means in relation to Party A: Not applicable.

“Specified Entity” means in relation to Party B:  Not applicable.

(l)                                     No Agency.  The provisions of Section 3(g) will apply to
this Agreement.

(m)                               Additional Representations will apply.  For the purpose of Section 3 of this
Agreement, the following will constitute an Additional Representation:—

(i)            Non-Reliance.  It is acting for its own account, and it has
made its own independent decisions to enter into that Transaction and as to
whether that Transaction is appropriate or proper for it based upon its own
judgment and upon advice from such advisers as it has deemed necessary.  It is not relying on any communication
(written or oral) or the other party as investment advice or as a
recommendation to enter into that Transaction, it being understood that
information and explanations related to the terms and conditions of a
Transaction will not be considered investment advice or a recommendation to
enter into that Transaction.  No
communication (written or oral) received from the other party will be deemed to
be an assurance or guarantee as to the expected results of that Transaction.

(ii)           Assessment and Understanding.  It is capable of assessing the merits of and
understanding (on its own behalf or through independent professional advice),
and understands and accepts, the terms, conditions and risks of that
Transaction.  It is also capable of
assuming, and assumes, the risks of that Transaction.

(iii)          Status of Parties. The other party is
not acting as a fiduciary for or an adviser to it in respect of that
Transaction.

(iv)          Eligible Contract Participant. It is
an “eligible contract participant” as defined in Section la(12) of the
Commodity Exchange Act, as amended.

(n)                                 Consent to Recording.  Each party (i) consents to the recording of
the telephone conversations of trading and marketing personnel of the parties
in connection with this Agreement or any potential Transaction, (ii) agrees to
obtain any necessary consent of, and give notice of such recording to, such
personnel and (iii) agrees, to the extent permitted by applicable law, that
recordings may be submitted in evidence in any Proceedings.

Part 5

Other Provisions

(a)                            Recourse
and Ranking.  The
obligations of Party B under this Agreement, and under any Transaction executed
hereunder, are solely the obligations of Party B.  No recourse shall be had for the payment of
any amount owing in respect of any Transaction or any other obligation or claim
arising out of or based upon this Agreement against any member, employee,
officer, director or agent of Party B. 
Any accrued obligations owing by Party B under this Agreement and any
Transaction shall be payable by Party B solely to the extent that funds are
available therefor from time to time in accordance with the provisions of the
Indenture; and, following realization of the Trust Estate, any claims of Party
A against Party B shall be extinguished. 
Notwithstanding any provisions contained in this Agreement to the
contrary, Party B shall not be obligated to pay any amount pursuant to this
Agreement unless Party B has received funds which may be used to make such
payment in accordance with the Indenture. 
Any amount which Party B does not pay pursuant to the operation of the
preceding sentence shall not constitute a claim (as defined in §101 of the Bankruptcy
Code) against or corporate obligation of Party B for any such insufficiency
unless and until such payment is permitted under such preceding sentence.

(b)                                 Limitation
of Defaults and Termination.   Notwithstanding the terms of Sections 5 and
6 of this Agreement, Party A shall be entitled to designate an Early
Termination Date pursuant to Section 6 of this Agreement only as a result of
the occurrence of an Event of Default set forth in Section 5(a)(i) or
5(a)(vii)(4) with respect to Party B as the Defaulting Party or a Termination
Event set forth in Sections 5(b)(i) or 5(b)(iii) of this Agreement with respect
to Party A as the Affected Party.

(c)                                  No
Bankruptcy Petition Against Party B.  Party A hereby covenants and agrees that,
prior to the date which is one year and one day (or, if longer, the applicable
preference period) after all the Notes (or any rated securities) issued by
Party B under the Indenture have been paid in full it will not institute
against, or join any other Person in instituting against, Party B any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings
or other similar proceeding under the laws of the United States or any state of
the United States.  The provisions of this
paragraph shall survive the termination of this Agreement.

(d)                                 Transfers.  Party
A consents to the pledge and assignment by Party B of its rights hereunder and
under any Transaction to the Indenture Trustee.

(e)                                  Additional Tax Provisions.  The definition of “Indemnifiable Tax” in
Section 14 of this Agreement is modified by adding the following at the end
thereof:

Notwithstanding the foregoing, “Indemnifiable Tax”
also means any Tax imposed in respect of a payment under this Agreement by
reason of a Change in Tax Law by a government or taxing authority of a Relevant
Jurisdiction of the party making such payment, unless the other party is
incorporated, organized, managed and controlled or considered to have its seat
in such jurisdiction, or is acting for purposes of this Agreement through a
branch or office located in such jurisdiction.

(f)                                    Definitions.  Reference is hereby made to the 2000 ISDA
Definitions (the “2000 Definitions”), as published by the International Swaps
and Derivatives Association, Inc. (“ISDA”), which are hereby incorporated by reference
herein and shall be deemed to be incorporated in each Confirmation hereunder,
unless otherwise specified in a Confirmation. Any terms used and not otherwise
defined herein which are contained in the 2000 Definitions shall have the
meaning set forth therein.  Capitalized
terms used and not otherwise defined herein or in the Agreement or the 2000
Definitions shall have the meanings assigned to them in the Indenture, dated as
of September 25, 2003, among Party B, as Issuer, and Deutsche Bank Trust Company
Americas, as Indenture Trustee, as supplemented by the Series 2007-4 Indenture
Supplement, dated as of the date hereof, as amended or supplemented from time
to time (collectively, the “Indenture”).

(g)                                 Jurisdiction.  Section 13(b) of this Agreement is hereby
amended by: (i) deleting the word “non-“ in the second line of
subparagraph (i)(2) thereof; (ii) adding the words “except as necessary to
pursue enforcement of the judgment of any such court in other jurisdictions” to
the last line of subparagraph (i)(2) thereof and (iii), deleting paragraph
(iii) thereof.

(h)                                 Waiver of Contractual Right of Setoff.  Without affecting the provisions of this
Agreement requiring the calculation of certain net payment or closeout amounts,
notwithstanding any provision of this Agreement or any other existing or future
agreement, each party irrevocably waives any and all contractual rights it may
have to set off, recoup or otherwise withhold or 

suspend or
condition payment or performance of any obligation between the two parties
hereunder against any obligations between the two parties under any other
agreements.

(i)                                     Waiver of Right to Trial by Jury.  Each party irrevocably waives, to the fullest
extent permitted by applicable law, any right it may have to trial by jury of
any claim, demand or cause of action relating in any way to this Agreement or
any Credit Support Document, whether sounding in contract or tort or otherwise,
and agrees that either party may file a copy of this section with any court as
evidence of the waiver of its jury trial rights.

(j)                                     Conditions Precedent.  Section 2(a)(iii)(1) of the Agreement shall
not apply to the obligations of Party A unless an Event of Default set forth in
Sections 5(a)(i) or 5(a)(vii)(4) with respect to Party B has occurred and is
continuing.

(k)                                  Amendment to Indenture.  Party B agrees that it shall not amend,
modify or waive any provisions in the Indenture (or the Servicing Agreement)
without the consent of Party A if such amendment, modification or waiver would
materially adversely affect the value of any Transactions to Party A or any of
Party A’s rights or obligations under this Agreement or any Transaction, modify
the obligations of Party B under this Agreement or any Transaction, or impair
the ability of Party B to fully perform any of Party B’s obligations, under
this Agreement or any Transaction.

(l)                                     Method of Notice. 
Section 12(a)(ii) of this Agreement is
deleted in its entirety.

(m)                               Limitation on Liability of Trustee.  It is expressly understood and agreed by the
parties hereto that (a) this Agreement is executed and delivered by The Bank of
New York (Delaware), not individually or personally but solely as trustee of GE
Capital Credit Card Master Note Trust (the “Trust”), in the exercise of the
powers and authority conferred and vested in it, (b) each of the
representations, under­takings and agreements herein made on the part of the
Trust is made and intended not as personal representations, undertakings and
agree­ments by The Bank of New York (Delaware) but is made and intended for the
purpose of binding only the Trust, (c) nothing herein contained shall be
construed as creating any liability on The Bank of New York (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 The Bank of New York (Delaware) be
personally liable for the payment of any indebtedness or expenses of the Trust
or be liable for the breach or failure of any obligation, representation,
warranty or covenant made or undertaken by the Trust under this Master
Agreement or any other related documents.

(n)                                 Payment and Consent Notices.  Party B shall provide Party A with copies of
all notices given under the Indenture (i) pertaining to payment(s) that relate
to or mention Party A and/or (ii) concerning matters requiring the consent of
Party A.  Additionally, upon request,
Party B shall provide Party A with any other notices which could be requested
by the holders of any Note.

(o)                                 Part 1(o).  Party A acknowledges the various provisions
set forth in Part 1(o) hereof in connection with a downgrade (as set forth
therein).  Party A agrees to act in good
faith and in a commercially reasonable manner in complying with the
requirements therein.

(p)                                 Notice.  Party B agrees to provide notice to S&P
of any transfers or amendments to this Agreement.  This Agreement shall not be amended, no Early
Termination Date shall be effectively designated by Party B, and no transfer of
any rights or obligations under this Agreement shall be made (other than a
transfer of all of Party A’s rights and obligations pursuant

to Part 5(r) below unless Moody’s has been given prior
written notice of such amendment, designation or transfer.

(q)                                 Rating Agency Condition.  No assignments, amendment, modification
or waiver in respect of this Agreement will be effective unless, in addition to
meeting the requirements otherwise set forth herein, a Ratings Reaffirmation
has been obtained.

(r)            Transfers.

(i)            Subject to Section 6(b)(ii) and Part 5(r)(ii) below,
Party A may not transfer (whether by way of security or otherwise) any interest
or obligation in or under this Agreement without the prior written consent of
Party B.

(ii)           Subject to giving prior written notification to Party B,
if the Moody’s First Rating Trigger Requirements apply, Party A may (at its own
cost) transfer its rights and obligations with respect to this Agreement to any
other entity (a “Transferee”) that is an Eligible Replacement such that the
Transferee contracts with Party B on terms that:

(x)            have the effect of preserving for Party B the economic
equivalent of all payment and delivery obligations (whether absolute or
contingent and assuming the satisfaction of each applicable condition
precedent) under this Agreement immediately before such transfer; and

(y)           are, in all material respects, no less beneficial for
Party B than the terms of this Agreement immediately before such transfer, as
determined by Party B.

(iii)          In determining whether or not a transfer satisfies the
condition in sub-paragraph (y) of Part 5(j)(ii) above, Party B shall act in a
commercially reasonable manner.

(iv)          If an entity has made a Firm Offer (which remains capable
of becoming legally binding upon    acceptance) to be the
transferee of a transfer to be made in accordance with Part 5(j)(ii) above,
Party B shall, at Party A’s written request and cost, take any reasonable steps
required to be taken by it to effect such transfer.

(s)                                  If an Early Termination Date is designated with
respect to resulting from an Event of Default or Additional Termination Event
in which Party A is the Defaulting Party or sole Affected Party, paragraphs (i)
to (iv) below shall apply:

(i)            The definition of “Close-Out Amount” shall be deleted in
its entirety and replaced with the following:

“”Close-Out
Amount” means,
with respect to any Early Termination Date:

(1)                                  if, on or prior to such Early Termination Date,
an Eligible Firm Offer for the relevant Terminated Transaction or group of
Terminated Transactions is accepted by Party B so as to become legally binding,
the Termination Currency Equivalent of the amount (whether positive or
negative) of such Eligible Firm Offer;

(2)                                  if, on such Early Termination Date, no Eligible
Firm Offer for the relevant Terminated Transaction or group of Terminated
Transactions has been accepted by Party B so as to become legally binding and
one or more Eligible Firm Offers have been communicated to Party B and remain
capable of becoming legally binding upon acceptance by Party B, the Termination
Currency Equivalent of the amount (whether positive or negative) of the lowest
of such Eligible Firm Offers (for the avoidance of doubt, (i) an Eligible Firm
Offer

expressed as a negative number is lower than a Eligible Firm Offer
expressed as a positive number and (ii) the lower of two Eligible Firm Offers
expressed as negative numbers is the one with the largest absolute value); or

(3)                                  if, on such Early Termination Date, no Eligible
Firm Offer for the relevant Terminated Transaction or group of Terminated
Transactions is accepted by Party B so as to become legally binding and no
Eligible Firm Offers have been communicated to Party B and remain capable of
becoming legally binding upon acceptance by Party B, Party B’s Loss (whether
positive or negative and without reference to any Unpaid amounts) for the
relevant Terminated Transaction or group of Terminated Transactions.”

“Eligible Firm Offer” means, with respect to one or more Terminated
Transactions, a Firm Offer which is (1) made by a leading dealer in the
relevant market selected by Party B (a “Reference
Market-maker”) that satisfies the Counterparty Ratings Requirement,
(2) for an amount that would be paid to Party B (expressed as a negative
number) or by Party B (expressed as a positive number) in consideration of an
agreement between Party B and such Reference Market-maker to enter into a
Replacement Transaction that would have the effect of preserving for such party
the economic equivalent of any payment or delivery (whether the underlying
obligation was absolute or contingent and assuming the satisfaction of each
applicable condition precedent) by the parties under Section 2(a)(i) in respect
of such Terminated Transactions or group of Terminated Transactions that would,
but for the occurrence of the relevant Early Termination Date, have been
required after that Date, (3) made on the basis that Unpaid Amounts in respect
of the Terminated Transaction or group of Transactions are to be excluded but,
without limitation, any payment or delivery that would, but for the relevant
Early Termination Date, have been required (assuming satisfaction of each
applicable condition precedent) after that Early Termination Date is to be
included and (4) made in respect of a Replacement Transaction with terms that
are, in all material respects, no less beneficial for Party B than those of
this Agreement (save for the exclusion of provisions relating to Transactions
that are not Terminated Transactions), as determined by Party B.

(ii)           In determining whether or not a Firm Offer satisfies the
condition in sub-paragraph (4) of Eligible Firm Offer, Party B shall act in a
commercially reasonable manner.

(iii)          At any time on or before the Early Termination Date at
which two or more Eligible Firm Offers have been communicated to Party B and
remain capable of becoming legally 
binding upon acceptance by Party B, Party B shall be entitled to accept
only the lowest of such Eligible Firm Offers (for the avoidance of doubt, (i)
an Eligible Firm Offer expressed as a negative number is lower than an Eligible
Firm Offer expressed as a positive number and (ii) the lower of two Eligible
Firm Offers expressed as negative numbers is the one with the largest absolute
value).

(iv)          If Party B requests Party A in writing to obtain Eligible
Firm Offers, Party A shall use Reasonable efforts to do so before the Early
Termination Date.

(v)           If the Close-Out Amount is a negative number, Section 6(e)(i)
to (iv) of this Agreement shall be deleted in their entirety and replaced with
the following:

“Party B shall pay to Party A an amount equal
to the absolute value of the Close-Out Amount in respect of the Terminated
Transactions, (2) Party B shall pay to Party A the Termination Currency
Equivalent of the Unpaid Amounts owing to Party A and (3) Party A shall pay to
Party B the Termination Currency Equivalent of the Unpaid Amounts owing to
Party B, Provided that, (i) the amounts payable under (2) and (3) shall be
subject to netting in accordance with Section 2(c) of this Agreement and (ii)
notwithstanding any other provision of this Agreement, any 

amount payable by Party A under (3) shall not
be netted against any amount payable by Party B under (1).”

Please confirm
your agreement to the terms of the foregoing Schedule by signing below.

	
  

  	
  BANK OF
  AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Shirely de
  la Canal

  	
   

  
	
   

  	
   

  	
  Name: Shirley de
  la Canal

  
	
   

  	
   

  	
  Title: Senior
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GE
  CAPITAL CREDIT CARD MASTER 

  NOTE TRUST

  
	
   

  	
   

  
	
   

  	
  By:  The
  Bank of New York (Delaware), not in its individual capacity but solely as
  Trustee

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kristine K.
  Gullo

  	
   

  
	
   

  	
   

  	
  Name: Kristine
  K. Gullo

  
	
   

  	
   

  	
  Title: Vice
  PresidentExhibit 4.6

SCHEDULE

to the

2002

Master Agreement

dated as of June 28,
2007

between BANK OF AMERICA, N.A.,

a national banking association organized under the laws of the United
States (“Party A”)

and

GE CAPITAL CREDIT CARD MASTER NOTE TRUST,

 a statutory trust organized under the laws of
the State of Delaware

(“Party B”)

Part 1

Termination
Provisions

The only Transaction that will be governed by the
terms of this Agreement will be the Class B Swap (as defined in the Indenture
Supplement) as documented in the Confirmation, dated as of the date
hereof.  Reference to “Transactions” or “Transaction”
shall be deemed to be reference to the Class B Swap.

In this Agreement —

(a)           “Specified Entity”
means in relation to Party A and Party B for the purpose of Sections 5(a)(v),
(vi), (vii) and Section 5(b)(v): Not applicable.

(b)           “Specified Transaction”
will have the meaning specified in Section 14 of this Agreement.

(c)           The “Breach of Agreement”
provision of Section 5(a)(ii) will not apply to Party B.

(d)           The “Credit Support Default” provision of Section
5(a)(iii) will not apply to Party B.

(e)           The “Misrepresentation”
provision of Section 5(a)(iv) will not apply to Party B.

(f)            The
“Default Under Specified Transactions”
provision of Section 5(a)(v) will not apply to Party A and will not apply to
Party B.

(g)           The “Cross Default”
provisions of Section 5(a)(vi) will apply to Party A and will not apply to
Party B.

“Specified Indebtedness” will have the meaning
specified in Section 14, provided that Specified Indebtedness shall not include
deposits received in the course of a party’s ordinary banking business.

“Threshold Amount” means, with
respect to Party A (or its Credit Support Provider), (3%) three percent of the
Shareholders’ Equity of Bank of America Corporation as described in its most
recently published audited financial statement or its equivalent in any
currency.

“Shareholders’
Equity”  means with respect to an entity, at any time, the sum
(as shown in the most recent annual audited financial statements of such entity)
of (i) its capital stock (including preferred stock) outstanding, taken at par
value, (ii) its capital surplus and (iii) its retained earnings, minus (iv)
treasury stock, each to be determined in accordance with generally accepted
accounting principles.

(h)           The “Bankruptcy”
provision of Section 5(a)(vii) will apply; provided that with respect to
Party B the provisions of Section 5(a)(vii) clauses (2), (7) and (9) will not
be applicable as an Event of Default; clause (3) will not apply to Party B to
the extent it refers to any assignment, arrangement or composition that is
effected by or pursuant to the Indenture; clause (4) will not apply to Party B
to the extent that it refers to proceedings or petitions instituted or
presented by Party A or any of its Affiliates; clause(6) will not apply to
Party B to the extent that it refers to (i) any appointment that is
contemplated or effected by the Indenture (as defined herein) or (ii) any
appointment that Party B has not become subject to); clause (8) will not apply
to Party B to the extent that it applies to Section 5(a)(vii)(2), (4), (6), and
(7) (except to the extent that such provisions are not disapplied with respect
to Party B).

(i)            The “Force
Majeure Event” provision of Section 5(b)(ii) will not apply to
Party A and will not apply to Party B.

(j)            The
“Credit Event Upon Merger”
provisions of Section 5(b)(v) will not apply to Party A and will not apply to
Party B.

(k)           “Tax Event Upon Merger” does not apply to Party A but
does apply to Party B as Burdened Party. 
Section 6(b)(ii) will apply, provided that the words “or if a Tax Event
Upon Merger occurs and the Burdened Party is the Affected Party” shall be
deleted.

(l)            The
“Tax Event” provisions of Section
5(b)(iii) will apply, provided that the words “(x) any action taken by a taxing
authority, or brought in a court of competent jurisdiction, on or after the
date on which a Trasanction is entered into (regardless of whether such action
is taken or brought with respect to a party to this Agreement) or (y)” shall be
deleted.

(m)          The
“Automatic Early Termination”
provisions of Section 6(a) will not apply to Party A and will not apply to
Party B.

(n)           “Termination Currency” means United
States Dollars.

(o)           Additional Termination Event  will
apply.  Each of the following shall
constitute an Additional Termination Event:

(i)            Fitch Credit Downgrade.  If at any time the unsecured
debt rating of Party A, or its Credit Support Provider, is withdrawn by or
reduced below “A” (long term) or “F1” (short term) if Party A is rated by Fitch
Ratings (“Fitch”); (a “Fitch Downgrade”); then Party A shall
promptly notify Party B by telephone (promptly confirmed in writing), and Party
B then shall notify the Rating Agencies. 
Party A shall then, at its own expense, within 30 days of the date of
the Fitch Downgrade, subject to Part 5(r), enter into a “Qualifying Substitute
Arrangement” (as defined below) to assure performance by Party A of its
obligations under the Transactions.  If
Party A fails to enter into a Qualifying Substitute Arrangement pursuant to
this provision, it shall be an Additional Termination Event in which Party A is
the sole Affected Party.

(ii)           S&P
Credit Downgrade.

(A)  With respect to Party A, or
its Credit Support Provider, if such entity is a Financial Institution, if at
any time the unsecured debt ratings of such entity, are reduced below “A+”
(long term) or, if a short term rating is in effect for such party, below “A-1”
(short term) by Standard & Poor’s Rating Services (“S&P”) (an “S&P
Approved Ratings Downgrade”); then Party A shall promptly notify Party B by
telephone (promptly confirmed in writing), and Party B then shall notify the
Rating Agencies.  Party A shall then, at
its own expense, comply with or perform any obligation to be complied
with or performed by Party A in accordance with the Credit Support Annex.  At any time during the continuance of an S&P
Approved Ratings Downgrade, in addition to complying with the Credit
Support Annex, Party A may, at its own expense, subject to Part 5(r),
enter into any other “Qualifying Substitute Arrangement” (as defined below) to
assure performance by Party A of its obligations under the Transactions.  If Party A fails to enter into a Qualifying
Substitute Arrangement within 10 Business Days pursuant to this provision, it shall
be an Additional Termination Event in which Party A is the sole Affected Party.

(B)  In addition, (i) with
respect to Party A, or its Credit Support Provider, if such entity is a
Financial Institution, if at any time the unsecured debt rating of such entity
is withdrawn or reduced below “BBB+” (long term) or “A-2” (short term) by
S&P or (ii) with respect to such party, that is not a Financial
Institution, if at any time the unsecured debt rating of Party A is withdrawn
or reduced below “A+” (long term) or “A-1” (short term) by S&P (an “S&P
Required Ratings Downgrade”); then Party A shall promptly notify Party B by
telephone (promptly confirmed in writing), and Party B then shall notify the
Rating Agencies.  Party A shall then, at
its own expense, (x) comply with or perform any obligation to be complied
with or performed by Party A in accordance with the Credit Support Annex and (y) within
60 days of the date of the S&P Required Ratings Downgrade subject to Part
5(r), enter into a Qualifying Substitute Arrangement to assure performance by
Party A of its obligations under the Transactions or otherwise procure the
Ratings Reaffirmation.  If Party A fails
to comply with the Credit Support Annex or fails to enter into a Qualifying
Substitute Arrangement pursuant to this provision, it shall be an Additional
Termination Event in which Party A is the sole Affected Party.

“Credit Support”
shall mean (i) collateral posted pursuant to the Credit Support Annex or (ii)
an unconditional letter of credit, guaranty, surety bond or insurance policy
providing for prompt payment of the obligations of Party A and its successors
under this Agreement, as amended from time to time, and all Transactions
hereunder for their duration from a Credit Support Provider meeting the Counterparty
Ratings Requirements, that is valid, binding and enforceable in accordance with
its terms. 
Notwithstanding the
forgoing sentence, posting collateral pursuant the Credit Support Annex shall
not be sufficient “Credit Support” for Party A 

if at any time the unsecured debt rating of Party A, or its Credit
Support Provider, that is a Financial Institution is withdrawn or reduced below
“BBB+” (long term) or “A-2” (short term) by S&P and if Party A, or its
Credit Support Provider, is not a Financial Institution; the unsecured debt
rating is withdrawn or reduced below “A+” (long term) or “A-1” (short term) by
S&P as set forth in the immediately preceding paragraph.

“Counterparty Ratings Requirement” means with respect to any
entity, that either such entity or the Credit Support Provider, has (i) (a) a
Moody’s long-term unsecured debt rating or counterparty rating of at least “Aa3”,
and if a short term rating has been provided, such rating shall be at least “P-1”,
and (ii) an S&P long-term unsecured debt rating or counterparty rating of
at least “A+”, and if a short term rating has been provided, such rating shall
be at least “A-1”; and, notwithstanding the foregoing, if such entity or its
Credit Support Provider, has a Fitch short-term unsecured debt rating, such
rating shall be at least “F1” and if such entity or its Credit Support Provider
has a Fitch long-term unsecured debt rating, such rating shall be at least “A”.

“Financial Institution” means a bank, broker/dealer, insurance
company, structured investment vehicle or derivative product company.

“Qualifying Substitute Arrangement” shall mean one of the
following arrangements satisfactory to Party B: 
(i) providing Credit Support to Party B and procure a Ratings
Reaffirmation or (ii) procuring a Replacement Transaction and a Ratings
Reaffirmation or (iii) satisfying any other remedy permitted by
the applicable Rating Agency and procure a Ratings Reaffirmation.

“Ratings Reaffirmation” means a written acknowledgement from
each Rating Agency (with the exception of Moody’s who shall be notified in
writing on any Qualifying Substitute Arrangement), (i) the then current rating
of the Notes will not be reduced or withdrawn notwithstanding the applicable
downgrade or applicable assignments, amendment, modification or waiver in
respect of this Agreement, or (ii) the rating of the Notes in effect prior to a
downgrade will be reinstated to the rating in effect prior to the downgrade.

“Replacement Transaction” means a transaction,
with a replacement counterparty meeting the Counterparty Rating Requirement
who, at no cost to Party B, shall assume Party A’s position under this
Agreement and all Transactions hereunder or replace all Transactions
outstanding under this Agreement with Transactions between said replacement counterparty
and Party B on identical terms.

(iii)          Moody’s First Rating
Trigger Collateral.  Party
A has failed to comply with or perform any obligation to be complied with or
performed by Party A in accordance with the Credit Support Annex entered into
between Party A and Party B in relation to this Agreement and either (x) the
Moody’s Second Rating Trigger Requirements do not apply or (y) less than 30
Local Business Days have elapsed since the last time the Moody’s Second Rating
Trigger Requirements did not apply.

(iv)          (Moody’s Second Rating Trigger Replacement.  (x) The Moody’s Second Rating Trigger
Requirements apply and 30 or more Local Business Days have elapsed since the
last time the Moody’s Second Rating Trigger Requirements did not apply and (y)
at least one Eligible Replacement has made a Firm Offer that would, assuming
the occurrence of an Early Termination Date, qualify as an Eligible Firm Offer
(on the basis 

that paragraphs (ii) and (iii) in Part 5(s) below
apply) and which remains capable of becoming legally binding upon acceptance.

“Eligible Guarantee” means an unconditional and
irrevocable guarantee that is provided by a guarantor as principal debtor
rather than surety and is directly enforceable by Party B, where either (A) a
law firm has given a legal opinion confirming that none of the guarantor’s
payments to Party B under such guarantee will be subject to withholding for Tax
and such opinion has been delivered to Moody’s, (B) such guarantee provides
that, in the event that any of such guarantor’s payments to Party B are subject
to withholding for Tax, such guarantor is required to pay such additional
amount as is necessary to ensure that the net amount actually received by Party
B (free and clear of any withholding tax) will equal the full amount Party B
would have received had no such withholding been required or (C) in the even
that any payment under such guarantee is made net of deduction or withholding
for Tax, Party A is required, under Section 2(a)(i), to make such additional
payment as is necessary to ensure that the net amount actually received by
Party B from the guarantor will equal the full amount Party B would have
received had no such deduction or withholding been required.

“Eligible Replacement” means an entity (A) with
the Moody’s First Trigger Required Ratings and/or the Moody’s Second Trigger
Required Ratings or (B) whose present and future obligations owing to Party B
are guaranteed pursuant to an Eligible Guarantee provided by a guarantor with
the Moody’s First Trigger Required Ratings and/or the Moody’s Second Trigger
Required Ratings.

“Firm Offer” means an offer which, when made,
was capable of becoming legally binding upon acceptance.

“Moody’s Short-term Rating” means a rating
assigned by Moody’s under its short-term rating scale in respect of an entity’s
short-term, unsecured and unsubordinated debt obligations.

“Relevant Entities” means Party A and any
guarantor under an Eligible Guarantee in respect of all of Party A’s present
and future obligations under this Agreement.

(A)          The “Moody’s First Rating Trigger
Requirements” shall apply so long as no Relevant Entity has the Moody’s First
Trigger Required Ratings.

An entity shall have the “Moody’s First Trigger Required Ratings”
(x) where such entity is the subject of a Moody’s Short-term Rating, if such
rating is “Prime-1” and its long-term, unsecured and unsubordinated debt
obligations are rated “A2” or above by Moody’s and (y) where such entity is not
the subject of a Moody’s Short-term Rating, if its long-term, unsecured and
unsubordinated debt obligations are rated “A1” or above by Moody’s.

(B)           So long as the
Moody’s First Rating Trigger Requirements apply, Party A will at its own cost
use commercially reasonable efforts to, as soon as reasonably practicable, (x)
procure an Eligible Guarantee in respect of all of Party A’s present and future
obligations under this Agreement to be provided by a guarantor with the Moody’s
First Trigger Required Ratings, (y) transfer to Party B the amount of
Eligible Collateral required under the Credit Support Annex or (y) transfer
this Agreement in accordance with Part 5(r) below.

(C)           The “Moody’s Second Rating Trigger
Requirements” shall apply so long as no Relevant Entity has the Moody’s Second
Trigger Required Ratings.

An entity shall have the “Moody’s Second Trigger Required Ratings”
(x) where such entity is the subject of a Moody’s Short-term Rating, if such
rating is “Prime-2” or above and its long-term, unsecured and unsubordinated
debt obligations are rated “A3” or above by Moody’s and (y) where such entity
is not the subject of a Moody’s Short-term Rating, if its long-term, unsecured
and unsubordinated debt obligations are rated “A3” or above by Moody’s.

(D)          So
long as the Moody’s Second Rating Trigger Requirements apply, Party A will at
its own cost use commercially reasonable efforts to, as soon as reasonably
practicable, either (x) procure an Eligible Guarantee in respect of all of
Party A’s present and future obligations under this Agreement to be provided by
a guarantor with the Moody’s First Trigger Required Ratings and/or the Moody’s
Second Trigger Required Ratings or (y) transfer this Agreement in accordance
with Part 5(r) below.

In the event of an Early
Termination Date in respect of a Party A Downgrade, a Moody’s First Rating Trigger
Replacement or a Moody’s Second Rating Trigger Replacement and the entering
into by Party B of alternative swap arrangements, Party A shall pay all
reasonable out-of-pocket expenses, including legal fees and stamp taxes,
relating to the entering into of such alternative swap arrangements.

(iv)           Failure by
Party A to comply with or perform in all material respects any agreement or
undertaking to be complied with or performed by the Swap Provider in accordance
with the Indemnification and Disclosure Agreement dated as of June 28, 2007
between Party A and RFS Holding, L.L.C., with Party A as the sole Affected
Party.

(p)           Discontinued Agency.  If one of the foregoing credit rating
agencies ceases to be in the business of rating Debt Securities and such business
is not continued by a successor or assign of such agency (“Discontinued Agency”)
ratings shall not be deemed withdrawn hereunder, and Party A and Party B shall
use their best efforts to  jointly (i)
select a nationally-recognized credit rating agency in substitution thereof and
(ii) agree on the rating level issued by such substitute agency that is
equivalent to the ratings specified herein of the Discontinued Agency,
whereupon such substitute agency and equivalent rating shall replace the
Discontinued Agency and the rating level thereof for the purposes of this
Agreement. If at any time all of the agencies specified herein with respect to
a party have become Discontinued Agencies and Party A and Party B have not
previously agreed in good faith on at least one agency and equivalent rating in
substitution for each Discontinued Agency and the applicable rating thereof,
the downgrade provisions of Part 1(o) shall cease to apply to the parties until
a substitute agency is agreed upon as described above.

Part 2

Tax Representations

(a)           Payer Tax Representation.  For the purpose of Section 3(e) of this
Agreement, Party A and Party B make the following representation:

It is not required
by applicable law, as modified by the practice of any relevant governmental revenue
authority, of any Relevant Jurisdiction to make any deduction or withholding
for or on account of any Tax from any payment (other than interest under
Section9(h) of this Agreement) to be made by it to the other party under this
Agreement.  In making this
representation, it may rely on:

(i)            the accuracy of any
representations made by the other party pursuant to Section 3(f) of this
Agreement;

(ii)           the satisfaction of the
agreement of the other party contained in Section 4(a)(i) or 4(a)(iii) of this
Agreement and the accuracy and effectiveness of any document provided by the
other party pursuant to Section 4(a)(i) or 4(a)(iii) of this Agreement; and

(iii)          the satisfaction of the
agreement of the other party contained in Section 4(d) of this Agreement;

except that it
will not be a breach of this representation where reliance is placed on clause
(ii) above and the other party does not deliver a form or document under
Section 4(a)(iii) of this Agreement by reason of prejudice to its legal or
commercial position.

(b)           Payee Tax Representations.  For the purpose of Section 3(f) of this
Agreement, Party A and/or Party B make the representations specified below:

(i)            Party
A represents that Party A is a national banking association organized under the
laws of the United States and the federal taxpayer identification number
is94-1687665.

(ii)           Party A represents that
it is a “U.S. person” (as that term is used in section 1.1441-4(a)(3)(ii) of
United States Treasury Regulations) for United States federal income tax purposes
and an “Exempt recipient” within the meaning of section 1.6049-4(c)(1)(ii) of
the United States Treasury Regulations.

(iii)          Party B represents that
it is a “U.S. person” (as that term is used in section 1.1441-4(a)(3)(ii) of
United States Treasury Regulations) for United States federal income tax
purposes.

(c)           Modified Tax Provisions. 
Party B’s obligations under Section 2(d)(i) of this Agreement shall be
limited to complying with clauses (1), (2) and (3) thereof and Party B shall
not be obligated to pay any amount that would otherwise be owing by it under
clause (4).  Notwithstanding the
definition of “Indemnifiable Tax” in Section 14 of this Agreement, in relation
to Payments by Party A, any Tax shall be an Indemnifiable Tax and, in relation
to payments by Party B, no Tax shall be an Indemnifiable Tax.

Part 3

Agreement to Deliver
Documents

For the purpose of
Sections 4(a)(i) and (ii) of this Agreement, each Party agrees to deliver the
following documents, as applicable:

(a)           Tax forms, documents or certificates to be
delivered are:

	
  Party Required

  to Deliver

  Documents

  	
   

  	
  Form/Document/

  Certificate

  	
   

  	
  Date by 

  which to be

  delivered

  	
   

  	
  Covered by

  §(3)(d)

  Representation

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Party A and
  Party B

  	
   

  	
  IRS Form W-9

  	
   

  	
  (i) Upon execution of the Agreement, (ii) upon
  knowledge that such document is obsolete or inaccurate and (iii) thereafter,
  upon request of the other party.

  	
   

  	
  N/A

  

 

(b)           Other documents to be delivered are:

	
  Party

  Required

  to Deliver

  Documents

  	
   

  	
  Form/Document/

  Certificate

  	
   

  	
  Date by 

  which to be

  delivered

  	
   

  	
  Covered by

  §(3)(d)

  Representation

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Party A

  	
   

  	
  A copy of the most recent annual report of
  containing audited consolidated financial statements of Party A for such
  fiscal year certified by independent certified public accountants and
  prepared in accordance with generally accepted accounting principles (“GAAP”)
  in the party’s country of organization, or, in lieu thereof, a copy of such
  party’s most recent Form 10-K as filed with the Securities and Exchange Commission
  (if any such statement is produced).

  	
   

  	
  Upon request by Party B after publicly available.

  	
   

  	
  Yes

  
	
  Party A

  	
   

  	
  Quarterly Financial Statements of Party A containing
  unaudited, consolidated financial statements of such party’s fiscal quarter
  prepared in accordance with generally accepted accounting principles in the
  country in which Party A is organized.

  	
   

  	
  Upon request by Party B after publicly available.

  	
   

  	
  Yes

  
	
  Party A and 

  Party B

  	
   

  	
  Incumbency certificate or other documents evidencing
  the authority of the party entering into this Agreement or any other document
  executed in connection with this Agreement.

  	
   

  	
  Concurrently with the execution of this Agreement or
  of any other documents executed in connection with this Agreement.

  	
   

  	
  Yes

  
	
  Party A and 

  Party B

  	
   

  	
  Legal opinion in a form satisfactory to the other
  party.

  	
   

  	
  Upon or promptly following execution of the
  Agreement.

  	
   

  	
  No

  

 

Part 4

Miscellaneous

(a)           Addresses for Notices.  For the purpose of Section 12(a) of this
Agreement: 

Address for notices or communications to Party A:

Address for notice or
communications to Party A:

Bank of America,
N.A.

Sears Tower

233 South Wacker
Drive, Suite 2800

Chicago, IL 60606

Attention:  Swap Operations

Telephone
No.:  312-234-2732

Facsimile
No.:  866-255-1444

with a copy to:

Bank of America,
N.A.

100 N. Tryon St.,
NC1-007-23-16

Charlotte, North
Carolina  28255

Attention:  Global Markets Trading Agreements

Facsimile No.:
980.387.9566

Address for financial
statements to Party A:

	
  

  	
  Bank of America,
  N.A.

  Mail Code: NC1-007-13-01

  100 N. Tryon Street

  Charlotte, North Carolina 28255

  Attention: CMCRM-GABS/SSG

  
	
   

  	
   

  
	
  (For all
  purposes).

  
	
   

  	
   

  
	
   

  	
  Address for
  notices or communications to Party B:

  

 

	
  Address:

  	
  GE Capital Credit Card Master Note Trust

  
	
   

  	
  c/o General Electric Capital Corporation, as Administrator

  
	
   

  	
  777 Long Ridge Road,
  Building B

  
	
   

  	
  Stamford, CT 06927

  
	
   

  	
   

  
	
  Attention:

  	
  Manager Operations - Securitization

  
	
  Telephone:

  	
  203-585-6838

  
	
  Facsimile:

  	
  203-585-6564

  

 

Address for notices or communications to Fitch:

Fitch Ratings

Attn:  Cynthia Ullrich

1 State Street Plaza 32
FL

New York, NY 10004

cynthia.ullrich@fitchratings.com

cc:  surveillance-abs-consumer@fitchratings.com

Fax:212-514-9879

Telephone:212-908-0609

(b)           Process Agent.  For the purpose of Section 13(c) of this
Agreement:

Party A appoints as its Process Agent: Not applicable.

Party B appoints as its Process Agent: 
Not applicable.

(c)           Offices.  The provisions of Section 10(a) shall apply
to this Agreement.

(d)           Multibranch Party.  For the purpose of Section 10(b), Party A is
a Multibranch Party and  may act through
its Charlotte, North Carolina, Chicago, Illinois, San Francisco, California,
New York, New York, Boston, Massachusetts or London, England Office.  Party B is not a Multibranch Party.

(e)           Calculation Agent.  The Calculation Agent shall be Party A.

(f)            Credit Support Document.  Details of any Credit Support Document:

	
  Party A:

  	
   

  	
  The Credit Support Annex, annexed hereto and any
  Eligible Guarantee, if any.

  
	
  Party B:

  	
   

  	
  Not applicable.

  

 

(g)           Credit Support Provider.

Credit Support Provider means in relation to Party
A:  Any guarantor under the Eligible
Guarantee, if any.

Credit Support
Provider means in relation to Party B: 
Not applicable.

(h)           Governing Law.  This Agreement will be governed by and
construed in accordance with the laws of the State of New York without
reference to choice of law doctrine.

(i)            Netting of Payments.  “Multiple Transaction Payment Netting” will
not apply for the purpose of Section 2(c) of this Agreement to all Transactions
(in each case starting from the date of this Agreement).

(j)            “Affiliate”
will have the meaning specified in Section 14; provided that Party B is deemed
to have no Affiliates.

(k)           Absence of Litigation.
For the purpose of Section 3(c):—

“Specified Entity” means in relation to Party A: Not applicable.

“Specified Entity” means in relation to Party B:  Not applicable.

(l)            No Agency.  The provisions of Section 3(g) will apply to
this Agreement.

(m)          Additional Representations
will apply.  For the purpose
of Section 3 of this Agreement, the following will constitute an Additional
Representation:—

(i)            Non-Reliance.  It is acting for its own account, and it has
made its own independent decisions to enter into that Transaction and as to
whether that Transaction is appropriate or proper for it based upon its own
judgment and upon advice from such advisers as it has deemed necessary.  It is not relying on any communication
(written or oral) or the other party as investment advice or as a
recommendation to enter into that Transaction, it being understood that
information and explanations related to the terms and conditions of a
Transaction will not be considered investment advice or a recommendation to
enter into that Transaction.  No
communication (written or oral) received from the other party will be deemed to
be an assurance or guarantee as to the expected results of that Transaction.

(ii)           Assessment and Understanding.  It is capable of assessing the merits of and
understanding (on its own behalf or through independent professional advice),
and understands and accepts, the terms, conditions and risks of that
Transaction.  It is also capable of
assuming, and assumes, the risks of that Transaction.

(iii)          Status of Parties. The other party is
not acting as a fiduciary for or an adviser to it in respect of that
Transaction.

(iv)          Eligible Contract Participant. It is
an “eligible contract participant” as defined in Section la(12) of the
Commodity Exchange Act, as amended.

(n)           Consent to Recording.  Each party (i) consents to the recording of
the telephone conversations of trading and marketing personnel of the parties
in connection with this Agreement or any potential Transaction, (ii) agrees to
obtain any necessary consent of, and give notice of such recording to, such
personnel and (iii) agrees, to the extent permitted by applicable law, that
recordings may be submitted in evidence in any Proceedings.

Part 5

Other Provisions

(a)         Recourse and Ranking.  The obligations of Party B under this
Agreement, and under any Transaction executed hereunder, are solely the
obligations of Party B.  No recourse
shall be had for the payment of any amount owing in respect of any Transaction
or any other obligation or claim arising out of or based upon this Agreement
against any member, employee, officer, director or agent of Party B.  Any accrued obligations owing by Party B
under this Agreement and any Transaction shall be payable by Party B solely to
the extent that funds are available therefor from time to time in accordance
with the provisions of the Indenture; and, following realization of the Trust
Estate, any claims of Party A against Party B shall be extinguished.  Notwithstanding any provisions contained in
this Agreement to the contrary, Party B shall not be obligated to pay any
amount pursuant to this Agreement unless Party B has received funds which may
be used to make such payment in accordance with the Indenture.  Any amount which Party B does not pay
pursuant to the operation of the preceding sentence shall not constitute a
claim (as defined in §101 of the Bankruptcy Code) against or corporate
obligation of Party B for any such insufficiency unless and until such payment
is permitted under such preceding sentence.

(b)           Limitation of Defaults and
Termination.  
Notwithstanding the terms of Sections 5 and 6 of this Agreement, Party A
shall be entitled to designate an Early Termination Date pursuant to Section 6
of this Agreement only as a result of the occurrence of an Event of Default set
forth in Section 5(a)(i) or 5(a)(vii)(4) with respect to Party B as the
Defaulting Party or a Termination Event set forth in Sections 5(b)(i) or
5(b)(iii) of this Agreement with respect to Party A as the Affected Party.

(c)           No Bankruptcy Petition
Against Party B.  Party A
hereby covenants and agrees that, prior to the date which is one year and one
day (or, if longer, the applicable preference period) after all the Notes (or
any rated securities) issued by Party B under the Indenture have been paid in
full it will not institute against, or join any other Person in instituting
against, Party B any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings or other similar proceeding under the laws of the
United States or any state of the United States.  The provisions of this paragraph shall
survive the termination of this Agreement.

(d)           Transfers.  Party
A consents to the pledge and assignment by Party B of its rights hereunder and
under any Transaction to the Indenture Trustee.

(e)           Additional Tax Provisions.  The definition of “Indemnifiable Tax” in
Section 14 of this Agreement is modified by adding the following at the end
thereof:

Notwithstanding the foregoing, “Indemnifiable Tax”
also means any Tax imposed in respect of a payment under this Agreement by
reason of a Change in Tax Law by a government or taxing authority of a Relevant
Jurisdiction of the party making such payment, unless the other party is
incorporated, organized, managed and controlled or considered to have its seat
in such jurisdiction, or is acting for purposes of this Agreement through a
branch or office located in such jurisdiction.

(f)            Definitions.  Reference is hereby made to the 2000 ISDA
Definitions (the “2000 Definitions”), as published by the International Swaps and
Derivatives Association, Inc. (“ISDA”), which are hereby incorporated by
reference herein and shall be deemed to be incorporated in each Confirmation
hereunder, unless otherwise specified in a Confirmation. Any terms used and not
otherwise defined herein which are contained in the 2000 Definitions shall have
the meaning set forth therein. 
Capitalized terms used and not otherwise defined herein or in the
Agreement or the 2000 Definitions shall have the meanings assigned to them in
the Indenture, dated as of September 25, 2003, among Party B, as Issuer, and
Deutsche Bank Trust Company Americas, as Indenture Trustee, as supplemented by
the Series 2007-4 Indenture Supplement, dated as of the date hereof, as amended
or supplemented from time to time (collectively, the “Indenture”).

(g)           Jurisdiction.  Section 13(b) of this Agreement is hereby
amended by: (i) deleting the word “non-“ in the second line of
subparagraph (i)(2) thereof; (ii) adding the words “except as necessary to
pursue enforcement of the judgment of any such court in other jurisdictions” to
the last line of subparagraph (i)(2) thereof and (iii), deleting paragraph
(iii) thereof.

(h)           Waiver of Contractual Right of Setoff.  Without affecting the provisions of this
Agreement requiring the calculation of certain net payment or closeout amounts,
notwithstanding any provision of this Agreement or any other existing or future
agreement, each party irrevocably waives any and all contractual rights it may
have to set off, recoup or otherwise withhold or 

suspend or
condition payment or performance of any obligation between the two parties
hereunder against any obligations between the two parties under any other
agreements.

(i)            Waiver of Right to Trial by Jury.  Each party irrevocably waives, to the fullest
extent permitted by applicable law, any right it may have to trial by jury of
any claim, demand or cause of action relating in any way to this Agreement or
any Credit Support Document, whether sounding in contract or tort or otherwise,
and agrees that either party may file a copy of this section with any court as
evidence of the waiver of its jury trial rights.

(j)            Conditions Precedent.  Section 2(a)(iii)(1) of the Agreement shall
not apply to the obligations of Party A unless an Event of Default set forth in
Sections 5(a)(i) or 5(a)(vii)(4) with respect to Party B has occurred and is
continuing.

(k)           Amendment to Indenture.  Party B agrees that it shall not amend,
modify or waive any provisions in the Indenture (or the Servicing Agreement)
without the consent of Party A if such amendment, modification or waiver would
materially adversely affect the value of any Transactions to Party A or any of
Party A’s rights or obligations under this Agreement or any Transaction, modify
the obligations of Party B under this Agreement or any Transaction, or impair
the ability of Party B to fully perform any of Party B’s obligations, under
this Agreement or any Transaction.

(l)            Method of Notice. 
Section 12(a)(ii) of this Agreement is deleted in its entirety.

(m)          Limitation on Liability of Trustee.  It is expressly understood and agreed by the
parties hereto that (a) this Agreement is executed and delivered by The Bank of
New York (Delaware), not individually or personally but solely as trustee of GE
Capital Credit Card Master Note Trust (the “Trust”), in the exercise of the
powers and authority conferred and vested in it, (b) each of the
representations, under­takings and agreements herein made on the part of the
Trust is made and intended not as personal representations, undertakings and
agree­ments by The Bank of New York (Delaware) but is made and intended for the
purpose of binding only the Trust, (c) nothing herein contained shall be
construed as creating any liability on The Bank of New York (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 The Bank of New York (Delaware) be
personally liable for the payment of any indebtedness or expenses of the Trust
or be liable for the breach or failure of any obligation, representation,
warranty or covenant made or undertaken by the Trust under this Master
Agreement or any other related documents.

(n)           Payment and Consent Notices.  Party B shall provide Party A with copies of
all notices given under the Indenture (i) pertaining to payment(s) that relate
to or mention Party A and/or (ii) concerning matters requiring the consent of
Party A.  Additionally, upon request,
Party B shall provide Party A with any other notices which could be requested
by the holders of any Note.

(o)           Part 1(o).  Party A acknowledges the various provisions
set forth in Part 1(o) hereof in connection with a downgrade (as set forth
therein).  Party A agrees to act in good
faith and in a commercially reasonable manner in complying with the
requirements therein.

(p)           Notice.  Party B agrees to provide notice to S&P
of any transfers or amendments to this Agreement.  This Agreement shall not be amended, no Early
Termination Date shall be effectively designated by Party B, and no transfer of
any rights or obligations under this Agreement shall be made (other than a
transfer of all of Party A’s rights and obligations pursuant

to Part 5(r) below unless Moody’s has been given prior
written notice of such amendment, designation or transfer.

(q)           Rating Agency Condition.  No assignments, amendment, modification
or waiver in respect of this Agreement will be effective unless, in addition to
meeting the requirements otherwise set forth herein, a Ratings Reaffirmation
has been obtained.

(r)            Transfers.

(i)            Subject to Section 6(b)(ii)
and Part 5(r)(ii) below, Party A may not transfer (whether by way of security
or otherwise) any interest or obligation in or under this Agreement without the
prior written consent of Party B.

(ii)           Subject to giving prior
written notification to Party B, if the Moody’s First Rating Trigger
Requirements apply, Party A may (at its own cost) transfer its rights and
obligations with respect to this Agreement to any other entity (a “Transferee”)
that is an Eligible Replacement such that the Transferee contracts with Party B
on terms that:

(x)            have the effect of
preserving for Party B the economic equivalent of all payment and delivery
obligations (whether absolute or contingent and assuming the satisfaction of
each applicable condition precedent) under this Agreement immediately before
such transfer; and

(y)           are, in all material respects,
no less beneficial for Party B than the terms of this Agreement immediately
before such transfer, as determined by Party B.

(iii)          In determining whether or
not a transfer satisfies the condition in sub-paragraph (y) of Part 5(j)(ii)
above, Party B shall act in a commercially reasonable manner.

(iv)          If an entity has made a Firm
Offer (which remains capable of becoming legally binding upon acceptance) to be
the transferee of a transfer to be made in accordance with Part 5(j)(ii) above,
Party B shall, at Party A’s written request and cost, take any reasonable steps
required to be taken by it to effect such transfer.

(s)           If an Early Termination Date is designated with respect to resulting
from an Event of Default or Additional Termination Event in which Party A is
the Defaulting Party or sole Affected Party, paragraphs (i) to (iv) below shall
apply:

(i)            The definition of “Close-Out
Amount” shall be deleted in its entirety and replaced with the following:

“”Close-Out Amount” means, with respect to any Early Termination
Date:

(1)           if, on or prior to such Early Termination Date, an Eligible Firm Offer
for the relevant Terminated Transaction or group of Terminated Transactions is
accepted by Party B so as to become legally binding, the Termination Currency
Equivalent of the amount (whether positive or negative) of such Eligible Firm
Offer;

(2)           if, on such Early Termination Date, no Eligible Firm Offer for the
relevant Terminated Transaction or group of Terminated Transactions has been
accepted by Party B so as to become legally binding and one or more Eligible
Firm Offers have been communicated to Party B and remain capable of becoming
legally binding upon acceptance by Party B, the Termination Currency Equivalent
of the amount (whether positive or negative) of the lowest of such Eligible
Firm Offers (for the avoidance of doubt, (i) an Eligible Firm Offer 

expressed as a negative number is lower than a Eligible Firm Offer
expressed as a positive number and (ii) the lower of two Eligible Firm Offers
expressed as negative numbers is the one with the largest absolute value); or

(3)           if, on such Early Termination Date, no Eligible Firm Offer for the
relevant Terminated Transaction or group of Terminated Transactions is accepted
by Party B so as to become legally binding and no Eligible Firm Offers have
been communicated to Party B and remain capable of becoming legally binding
upon acceptance by Party B, Party B’s Loss (whether positive or negative and
without reference to any Unpaid amounts) for the relevant Terminated
Transaction or group of Terminated Transactions.”

“Eligible Firm
Offer” means,
with respect to one or more Terminated Transactions, a Firm Offer which is (1)
made by a leading dealer in the relevant market selected by Party B (a “Reference Market-maker”) that satisfies the
Counterparty Ratings Requirement, (2) for an amount that would be paid to Party
B (expressed as a negative number) or by Party B (expressed as a positive
number) in consideration of an agreement between Party B and such Reference
Market-maker to enter into a Replacement Transaction that would have the effect
of preserving for such party the economic equivalent of any payment or delivery
(whether the underlying obligation was absolute or contingent and assuming the
satisfaction of each applicable condition precedent) by the parties under
Section 2(a)(i) in respect of such Terminated Transactions or group of
Terminated Transactions that would, but for the occurrence of the relevant
Early Termination Date, have been required after that Date, (3) made on the
basis that Unpaid Amounts in respect of the Terminated Transaction or group of
Transactions are to be excluded but, without limitation, any payment or
delivery that would, but for the relevant Early Termination Date, have been
required (assuming satisfaction of each applicable condition precedent) after
that Early Termination Date is to be included and (4) made in respect of a
Replacement Transaction with terms that are, in all material respects, no less
beneficial for Party B than those of this Agreement (save for the exclusion of
provisions relating to Transactions that are not Terminated Transactions), as
determined by Party B.

(ii)           In determining whether or
not a Firm Offer satisfies the condition in sub-paragraph (4) of Eligible Firm
Offer, Party B shall act in a commercially reasonable manner.

(iii)          At any time on or before the
Early Termination Date at which two or more Eligible Firm Offers have been
communicated to Party B and remain capable of becoming legally  binding upon acceptance by Party B, Party B
shall be entitled to accept only the lowest of such Eligible Firm Offers (for
the avoidance of doubt, (i) an Eligible Firm Offer expressed as a negative
number is lower than an Eligible Firm Offer expressed as a positive number and (ii)
the lower of two Eligible Firm Offers expressed as negative numbers is the one
with the largest absolute value).

(iv)          If Party B requests Party A
in writing to obtain Eligible Firm Offers, Party A shall use Reasonable efforts
to do so before the Early Termination Date.

(v)           If the Close-Out Amount is a
negative number, Section 6(e)(i) to (iv) of this Agreement shall be deleted in
their entirety and replaced with the following:

“Party B shall pay to Party A an
amount equal to the absolute value of the Close-Out Amount in respect of the
Terminated Transactions, (2) Party B shall pay to Party A the Termination
Currency Equivalent of the Unpaid Amounts owing to Party A and (3) Party A
shall pay to Party B the Termination Currency Equivalent of the Unpaid Amounts
owing to Party B, Provided that, (i) the amounts payable under (2) and (3)
shall be subject to netting in accordance with Section 2(c) of this Agreement
and (ii) notwithstanding any other provision of this Agreement, any 

amount payable by Party A under
(3) shall not be netted against any amount payable by Party B under (1).”

Please confirm
your agreement to the terms of the foregoing Schedule by signing below.

	
  

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Shirley
  de la Canal

  	
   

  
	
   

  	
   

  	
  Name:  Shirley
  de la Canal

  
	
   

  	
   

  	
  Title:  Senior
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GE
  CAPITAL CREDIT CARD MASTER 

  NOTE TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
  By:  The Bank of New York (Delaware), not in 

  its individual capacity but solely as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Kristine
  K. Gullo

  	
   

  
	
   

  	
   

  	
  Name:  Kristine
  K. Gullo

  
	
   

  	
   

  	
  Title:  Vice
  President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]