Document:

Exhibit

EXHIBIT 10.9

JAPAN LOCAL CURRENCY ADDENDUM

JAPAN LOCAL CURRENCY ADDENDUM, dated as of September 5, 2019, to the Credit Agreement (as defined below), among Caterpillar Financial Services Corporation, Caterpillar Finance Kabushiki Kaisha, the Japan Local Currency Banks (as defined below), Citibank, N.A., as Agent, and MUFG Bank, Ltd., as Japan Local Currency Agent.
ARTICLE I
Definitions
SECTION 1.01.  Defined Terms.  As used in this Addendum, the following terms shall have the meanings specified below:
“Credit Agreement” means the Second Amended and Restated Credit Agreement (Five-Year Facility), dated as of September 5, 2019, among Caterpillar Inc., Caterpillar Financial Services Corporation, Caterpillar International Finance Designated Activity Company, Caterpillar Finance Kabushiki Kaisha, the financial institutions from time to time party thereto as Banks, Citibank, N.A., as Agent, Citibank Europe plc, UK Branch, as Local Currency Agent, and MUFG Bank, Ltd., as Japan Local Currency Agent, as the same may be amended, waived, modified or restated from time to time.
“Japan Local Currency Advance” means any Advance, denominated in Japanese Yen, made to CFKK pursuant to Sections 2.03C and 2.03D of the Credit Agreement and this Addendum.  A Japan Local Currency Advance shall bear interest at the rate specified in Schedule II.
“Japan Local Currency Bank” means each Bank listed on the signature pages of this Addendum or which becomes a party hereto pursuant to an Assignment and Acceptance or an Assumption and Acceptance.
SECTION 1.02.  Terms Generally.  Unless otherwise defined herein, terms defined in the Credit Agreement shall have the same meanings in this Addendum.  Wherever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.  The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.  All references herein to Sections and Schedules shall be deemed references to Sections of and Schedules to this Addendum unless the context shall otherwise require.

ARTICLE II
The Credits
SECTION 2.01.  Japan Local Currency Advances.  (a)  This Addendum (as the same may be amended, waived, modified or restated from time to time) is the “Japan Local Currency Addendum” as defined in the Credit Agreement and is, together with the borrowings made hereunder, subject in all respects to the terms and provisions of the Credit Agreement except to the extent that the terms and provisions of the Credit Agreement are modified by or are inconsistent with this Addendum, in which case this Addendum shall control.
(b)  Any modifications to the interest payment dates, Interest Periods, interest rates and any other special provisions applicable to Japan Local Currency Advances under this Addendum are set forth on Schedule II.  If Schedule II states “None” or “Same as Credit Agreement” with respect to any item listed thereon, then the corresponding provisions of the Credit Agreement, without modification, shall govern this Addendum and the Japan Local Currency Advances made pursuant to this Addendum.
(c)  Any special borrowing procedures or funding arrangements for Japan Local Currency Advances under this Addendum, any provisions for the issuance of promissory notes to evidence the Japan Local Currency Advances made hereunder and any additional information requirements applicable to Japan Local Currency Advances under this Addendum are set forth on Schedule III.  If no such special procedures, funding arrangements, provisions or additional requirements are set forth on Schedule III, then the corresponding procedures, funding arrangements, provisions and information requirements set forth in the Credit Agreement shall govern this Addendum.
SECTION 2.02.  Maximum Borrowing Amounts.  (a)  The Total Japan Local Currency Commitment, and the Japan Local Currency Commitment for each Japan Local Currency Bank party to this Addendum as of the date hereof, are set forth on Schedule I.
(b)  Upon at least five (5) Business Days prior irrevocable written notice to the Agent, the Japan  Local Currency Agent and the Japan Local Currency Banks, CFKK may from time to time permanently reduce the Total Japan Local Currency Commitment under this Addendum in whole, or in part ratably among the Japan  Local Currency Banks, in an aggregate minimum Dollar Amount of $10,000,000, and integral multiples of $1,000,000 in excess thereof; provided, however, that the amount of the Total Japan Local Currency Commitment may not be reduced below the aggregate principal amount of the outstanding Japan Local Currency Advances with respect thereto.  Any such reduction shall be allocated pro rata among all the Japan Local Currency Banks party to this Addendum by reference to their Japan Local Currency Commitments.
ARTICLE III
Representations and Warranties

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Each of CFSC and CFKK makes and confirms each representation and warranty applicable to it or any of its Subsidiaries contained in Article IV of the Credit Agreement.  Each of CFSC and CFKK represents and warrants to each of the Japan Local Currency Banks party to this Addendum that no Event of Default, or event which would constitute an Event of Default but for the requirement that notice be given or time elapse or both, has occurred and is continuing, and no Event of Default, or event which would constitute an Event of Default but for the requirement that notice be given or time elapse or both, shall arise as a result of the making of Japan Local Currency Advances hereunder or any other transaction contemplated hereby.
ARTICLE IV
Miscellaneous Provisions
SECTION 4.01.  Amendment; Termination.  (a)  This Addendum (including the Schedules hereto) may not be amended without the prior written consent of the Majority Japan Local Currency Banks hereunder and subject to the provisions of Section 8.01 of the Credit Agreement.
(b)  This Addendum may not be terminated without the prior written consent of each Japan Local Currency Bank party hereto, CFSC and CFKK unless there are no Japan  Local Currency Advances or any other amounts outstanding hereunder, in which case no such consent of any Japan Local Currency Bank shall be required; provided, however, that this Addendum shall terminate on the date that the Credit Agreement terminates in accordance with its terms.
SECTION 4.02.  Assignments.  Section 8.07 of the Credit Agreement shall apply to assignments by Japan Local Currency Banks of obligations, Japan Local Currency Commitments and Japan Local Currency Advances hereunder; provided, however, that a Japan Local Currency Bank may not assign any obligations, Japan Local Currency Commitments or rights hereunder to any Person which is not (or does not simultaneously become) a Bank under the Credit Agreement.
SECTION 4.03.  Notices, Etc.  Except as otherwise provided herein, all notices, demands, requests, consents and other communications provided for hereunder shall be given in writing or by any telecommunication device capable of creating a written record (including electronic mail), and addressed to the party to be notified as follows:
 (a)    if to CFKK, at Caterpillar Finance Kabushiki Kaisha, SBS Tower 14F, 4-10-1 Yoga, Setagaya-ku, Tokyo 158-0097, Japan, Attention:  Managing Director (Facsimile No.  813-5797-4522), with a copy to CFSC at its address and facsimile number or electronic mail address referenced in Section 8.02 of the Credit Agreement;
(b)    if to CFSC, at its address and facsimile number or electronic mail address referenced in Section 8.02 of the Credit Agreement;
(c)    if to the Japan Local Currency Agent, at MUFG Bank, Ltd., Osaka Corporate Banking Group, Osaka Corporate Banking Division No. 3, Corporate Banking Department No. 3, 3-5-6, Fushimimachi, Chuo-ku, Osaka-shi, Osaka 541-8530, Japan, Attention: Mr. Kazuki Takehara (Telecopy No.: 06-6206-9039 / 81-06-6206-9039) (Telephone No.: 

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06-6206-9036 / 81-06-6206-9036) with a copy to the Agent at its address and facsimile number or electronic mail address referenced in Section 8.02 of the Credit Agreement;
(d)    if to a Japan Local Currency Bank, at its address (and facsimile number or electronic mail address) set forth in Schedule I or in the Assignment and Acceptance or Assumption and Acceptance pursuant to which such Japan Local Currency Bank became a party hereto;
(e)    if to the Agent, at its address at Bank Loan Syndications, 1615 Brett Rd., Building No. 3, New Castle, Delaware 19720, Attention:  Bank Loan Syndications, Telecopier No. 646-274-5080 (glagentofficeops@citi.com), with a copy to Citibank, N.A., 388 Greenwich Street, New York, New York, 10013, Attention:  Lisa Stevens Harary (E-Mail Address: lisa.stevensharary@citi.com);
or as to each party, at such other address as shall be designated by such party in a written notice to the other parties.  
All notices, demands, requests, consents and other communications described in this Section 4.03 shall be effective (i) if delivered by hand, including any overnight courier service, upon personal delivery, (ii) if delivered by mail, when deposited in the mails and (iii) if delivered by electronic mail or any other telecommunications device, when transmitted to an electronic mail address (or by another means of electronic delivery) as provided in this Section 4.03; provided, however, that notices and communications to the Japan Local Currency Agent pursuant to Article II or V hereof or Article II of the Credit Agreement shall not be effective until received by the Japan Local Currency Agent.
SECTION 4.04.  Ratification of Guaranty.  By its execution of this Addendum, CFSC ratifies and confirms its guaranty contained in Article IX of the Credit Agreement with respect to the Japan Local Currency Advances made pursuant to this Addendum which Guaranty remains in full force and effect.
SECTION 4.05.  Sharing of Payments, Etc.  If any Japan Local Currency Bank shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on account of the Japan Local Currency Advances made by it (other than pursuant to Section 2.02(c), 2.05(d), 2.10, 2.12 or 8.04 of the Credit Agreement) in excess of its ratable share of payments on account of the Japan Local Currency Advances obtained by all the Japan Local Currency Banks, such Japan Local Currency Bank shall forthwith purchase from the other Japan Local Currency Banks such participations in the Japan Local Currency Advances made by them as shall be necessary to cause such purchasing Japan Local Currency Bank to share the excess payment ratably with each of them, provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Japan Local Currency Bank, such purchase from each other Japan Local Currency Bank shall be rescinded and each such other Japan Local Currency Bank shall repay to the purchasing Japan Local Currency Bank the purchase price to the extent of such recovery together with an amount equal to such other Japan Local Currency Bank’s ratable share (according to the proportion of (i) the amount of such other Japan Local Currency Bank’s required repayment to (ii) the total amount so recovered from the purchasing Japan Local Currency 

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Bank) of any interest or other amount paid or payable by the purchasing Japan Local Currency Bank in respect of the total amount so recovered.  CFKK agrees that any Japan Local Currency Bank so purchasing a participation from another Japan Local Currency Bank pursuant to this Section 4.05 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Japan Local Currency Bank were the direct creditor of CFKK in the amount of such participation.
SECTION 4.06.  Applicable Law.  THIS ADDENDUM SHALL BE GOVERNED BY AND INTERPRETED AND ENFORCED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK (WITHOUT REGARD FOR CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE INTERNAL LAW OF THE STATE OF NEW YORK).
SECTION 4.07  Execution in Counterparts.  This Addendum may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.
ARTICLE V
The Japan Local Currency Agent
SECTION 5.01  Appointment; Nature of Relationship.  MUFG Bank, Ltd. is appointed by the Japan Local Currency Banks as the Japan Local Currency Agent hereunder and under the Credit Agreement, and each of the Japan Local Currency Banks irrevocably authorizes the Japan Local Currency Agent to act as the contractual representative of such Japan Local Currency Bank with the rights and duties expressly set forth herein and in the Credit Agreement applicable to the Japan Local Currency Agent.  The Japan Local Currency Agent agrees to act as such contractual representative upon the express conditions contained in this Article V.  Notwithstanding the use of the defined term “Japan Local Currency Agent,” it is expressly understood and agreed that the Japan Local Currency Agent shall not have any fiduciary responsibilities to any Japan Local Currency Bank or other Bank  by reason of this Addendum and that the Japan Local Currency Agent is merely acting as the representative of the Japan Local Currency Banks with only those duties as are expressly set forth in this Addendum and the Credit Agreement.  In its capacity as the Japan Local Currency Banks’ contractual representative, the Japan Local Currency Agent (i) does not assume any fiduciary duties to any of the Banks, (ii) is a “representative” of the Japan Local Currency Banks within the meaning of Section 9-102 of the Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Addendum and the Credit Agreement.  Each of the Japan Local Currency Banks agrees to assert no claim against the Japan Local Currency Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Bank waives.
SECTION 5.02  Powers.  The Japan Local Currency Agent shall have and may exercise such powers under this Addendum and the Credit Agreement as are specifically delegated to the Japan Local Currency Agent by the terms of each thereof, together with such powers as are reasonably incidental thereto.  The Japan Local Currency Agent shall have neither any implied 

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duties or fiduciary duties to the Japan Local Currency Banks or the Banks, nor any obligation to the Japan Local Currency Banks or the Banks to take any action hereunder or under the Credit Agreement except any action specifically provided by this Addendum or the Credit Agreement required to be taken by the Japan Local Currency Agent.
SECTION 5.03  General Immunity.  Neither the Japan Local Currency Agent nor any of its respective directors, officers, agents or employees shall be liable to any of the Borrowers or any Bank for any action taken or omitted to be taken by it or them hereunder or under the Credit Agreement or in connection herewith or therewith except to the extent such action or inaction is found in a final non-appealable judgment by a court of competent jurisdiction to have arisen from the gross negligence or willful misconduct of such Person.
SECTION 5.04  No Responsibility for Advances, Creditworthiness, Collateral, Recitals, Etc.  [Intentionally Omitted. See Sections 7.03 and 7.04 of the Credit Agreement for these provisions.]
SECTION 5.05  Action on Instructions of Japan Local Currency Banks.  The Japan Local Currency Agent shall in all cases be fully protected in acting, or in refraining from acting, hereunder and under the Credit Agreement in accordance with written instructions signed by Majority Japan Local Currency Banks (except with respect to actions that require the consent of all of the Banks as provided in the Credit Agreement, including, without limitation, Section 8.01 thereof), and such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the Japan Local Currency Banks.  The Japan Local Currency Agent shall be fully justified in failing or refusing to take any action hereunder and under the Credit Agreement unless it shall first be indemnified to its satisfaction by the Japan Local Currency Banks pro rata against any and all liability, cost and expense that it may incur by reason of taking or continuing to take any such action.
SECTION 5.06  Employment of Agents and Counsel.  The Japan Local Currency Agent may execute any of its duties hereunder and under the Credit Agreement by or through employees, agents, and attorneys-in-fact, and shall not be answerable to the Banks or the Japan Local Currency Banks, except as to money or securities received by it or its authorized agents, for the default or misconduct of any such agents or attorneys-in-fact selected by it with reasonable care.  The Japan Local Currency Agent shall be entitled to advice of counsel concerning the contractual arrangement among the Japan Local Currency Agent and the Japan Local Currency Banks, as the case may be, and all matters pertaining to its duties hereunder and under the Credit Agreement.
SECTION 5.07  Reliance on Documents; Counsel.  [Intentionally Omitted. See Section 7.03 of the Credit Agreement for these provisions.]
SECTION 5.08  Other Transactions.  The Japan Local Currency Agent may accept deposits from, lend money to, and generally engage in any kind of trust, debt, equity or other transaction, in addition to those contemplated by this Addendum or the Credit Agreement, with CFSC, CFKK or any of their respective Subsidiaries in which the Japan Local Currency Agent is not prohibited hereby from engaging with any other Person.

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SECTION 5.09 Bank Credit Decision.  [Intentionally Omitted. See Section 7.07 of the Credit Agreement for these provisions.]
SECTION 5.10  Successor Japan Local Currency Agent.  The Japan Local Currency Agent (i) may resign at any time by giving written notice thereof to the Agent, the Japan Local Currency Banks and the Borrowers, and may appoint one of its Affiliates as successor Japan Local Currency Agent and (ii) may be removed at any time with or without cause by the Majority Japan Local Currency Banks.  Upon any such resignation or removal, the Majority Japan Local Currency Banks, with the consent of the Agent, shall have the right to appoint (unless, in the case of the resignation of the Japan Local Currency Agent, the resigning  Japan Local Currency Agent has appointed one of its Affiliates as successor Japan Local Currency Agent), on behalf of the Borrowers and the Japan Local Currency Banks, a successor Japan Local Currency Agent.  If no successor Japan Local Currency Agent shall have been so appointed and shall have accepted such appointment within thirty days after the retiring Japan Local Currency Agent’s giving notice of resignation or the Majority Japan Local Currency Banks’ removal of the retiring Japan Local Currency Agent, then the retiring Japan Local Currency Agent may appoint, on behalf of the Borrowers and the Japan Local Currency Banks, a successor Japan Local Currency Agent, which need not be one of its Affiliates.  Notwithstanding anything herein to the contrary, so long as no Event of Default, or event which would constitute an Event of Default but for the requirement that notice be given, time elapse or both, has occurred and is continuing, each such successor Japan Local Currency Agent shall be subject to written approval by CFSC and CFKK, which approval shall not be unreasonably withheld.  Such successor Japan Local Currency Agent shall be a commercial bank having capital and retained earnings of at least $500,000,000.  Upon the acceptance of any appointment as the Japan Local Currency Agent hereunder by a successor Japan Local Currency Agent, such successor Japan Local Currency Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Japan Local Currency Agent, and the retiring Japan Local Currency Agent shall be discharged from its duties and obligations hereunder and under the Credit Agreement.  After any retiring Japan Local Currency Agent’s resignation hereunder as Japan Local Currency Agent, the provisions of this Article V shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the Japan Local Currency Agent hereunder and under the Credit Agreement.

IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be duly executed as a deed by their duly authorized officers, all as of the date and year first above written.
CATERPILLAR FINANCE KABUSHIKI KAISHA 
 
 
By:___________________________ 
      Name: 
      Title:
 
 
CATERPILLAR FINANCIAL SERVICES CORPORATION
 
 
By:___________________________ 
      Name: 
      Title:
CITIBANK, N.A., as the Agent
 
 
 
By:___________________________ 
      Name: 
      Title:
MUFG BANK, LTD., as the Japan Local Currency Agent
 
 
 
By:___________________________ 
      Name:  Yoshikazu Shimauchi 
      Title:  Managing Director, Head of Osaka  
      Corporate Banking Division No.3
MUFG BANK, LTD., as the Japan Local Currency Bank
 
 
 
By:___________________________ 
      Name:  Yoshikazu Shimauchi 
      Title:  Managing Director, Head of Osaka 
      Corporate Banking Division No.3

SCHEDULE I 
to Japan Local Currency Addendum
Japan Local Currency Banks
Japan Local Currency Commitments
Total Japan Local Currency Commitment
Applicable Lending Office 

	
		
	Japan Local Currency Bank Name
	Japan Local Currency Commitment

	MUFG Bank, Ltd.
	US $75,000,000

	
		
	Total Japan Local Currency Commitment:
	 
US $75,000,000

	
		
	Japan Local Currency Bank Name
	Applicable Japan Local Currency Lending Office

	MUFG Bank, Ltd.
	MUFG Bank, Ltd.,
Osaka Corporate Banking Group
Osaka Corporate Banking Division No. 3
Corporate Banking Department No. 3
3-5-6, Fushimimachi, Chuo-ku, Osaka-shi, Osaka 541-8530, Japan  
Attention: Mr. Kazuki Takehara
(Telephone No.: 06-6206-9036 / 81-06-6206-9036)
(Facsimile No.: 06-6206-9039 / 81-06-6206-9039)

SCHEDULE II 
to Japan Local Currency Addendum
MODIFICATIONS
1.    Business Day Definition:
“Business Day”:  Same as Credit Agreement.
2.    Interest Payment Dates:  Same as Credit Agreement.  (See Section 2.07 of Credit Agreement).
3.    Interest Periods:  Same as Credit Agreement.  (See definition of “Interest Period”, Section 1.01,  
    and Section 2.07(d) of Credit Agreement).
4.    Interest Rates:
Each Japan Local Currency Advance that is a TIBO Rate Advance shall bear interest from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at a rate per annum equal to the sum of (i) the TIBO Rate for such Japan Local Currency Advance for such Interest Period plus (ii) the Applicable Margin as in effect from time to time during such Interest Period; provided, however, after the occurrence and during the continuance of an Event of Default or an event that would constitute an Event of Default but for the requirement that notice be given or time elapse or both, the provisions of Section 2.07(d) of the Credit Agreement shall be applicable.  Each Japan Local Currency Advance that is a Japan Base Rate Advance shall bear interest during any Interest Period at a per annum rate equal to the sum of (i) the Japan Base Rate plus (ii) the Applicable Margin in effect from time to time during such Interest Period.  The terms of Section 2.07 and the other provisions of the Credit Agreement shall otherwise govern the accrual and payment of interest on Japan Local Currency Advances.
5.    Other:
Additional Conditions Precedent:  None
Current Termination Date for Addendum: The “Current Termination Date” under the Credit Agreement.
Extended Termination Date for Addendum: The “Extended Termination Date” under the Credit Agreement.
Prepayment Notices:  CFKK shall be permitted to prepay a Japan Local Currency Advance subject to the provisions of Section 8.04(b) of the Credit Agreement, on any Business Day, provided, in the case of any prepayment, notice thereof is given to the Japan Local Currency Agent (with a copy to the Agent) not later than 10:00 a.m. (Tokyo time) at least three (3) Business Days prior to the date of such prepayment.

SCHEDULE III 
to Japan Local Currency Addendum 
 
 

OTHER PROVISIONS
1.    Borrowing Procedures:
(a)    Notice of Japan Local Currency Borrowing shall be given by CFKK to the Japan Local Currency Agent (with a copy to the Agent) not later than 10:00 a.m. (Tokyo time) on the third Business Day prior to the date of the proposed Japan Local Currency Borrowing (or not later than 10:00 a.m. (Tokyo time) on the Business Day of the proposed Japan Local Currency Borrowing if such proposed Japan Local Currency Borrowing is requested on a same-day basis),  and the Japan Local Currency Agent shall give each Japan Local Currency Bank prompt notice thereof in accordance with Section 4.03.
(b)    Each Notice of Japan Local Currency Borrowing shall be addressed to the Japan Local Currency Agent at its address set forth in Section 4.03 and shall specify the bank account to which the Japan Local Currency Advances are to be made.
2.    Funding Arrangements:
Minimum amounts/increments for Japan Local Currency Borrowings, repayments and prepayments:
Same as Credit Agreement.
3.    Promissory Notes:  None required.

7Exhibit 4.1

  

   

  

  BA CREDIT CARD TRUST

  

  

  as Issuer

   

  CLASS A(2019-1) TERMS DOCUMENT

   

  dated as of September 13, 2019

   

  to

   

  THIRD AMENDED AND RESTATED BASERIES INDENTURE SUPPLEMENT

   

  dated as of December 17, 2015

   

  to

   

  FOURTH AMENDED AND RESTATED INDENTURE

   

  dated as of December 17, 2015

   

  THE BANK OF NEW YORK MELLON

   

  as Indenture Trustee

   

  

  
    
      

  

  
  
    TABLE OF CONTENTS

     

    

    	   	
            Page

          
	 	 

    	
            ARTICLE I

          	
            Definitions And Other Provisions Of General Application

          	
            1

          

    	 	 	 	 
	 	
            Section 1.01.

          	
            Definitions

          	
            1

          
	 	
            Section 1.02.

          	
            Governing Law; Submission to Jurisdiction; Agent for Service of Process

          	
            5

          
	 	
            Section 1.03.

          	
            Counterparts

          	
            6

          
	 	
            Section 1.04.

          	
            Ratification of Indenture and Indenture Supplement

          	
            6

          
	 	 	 	 

    	
            ARTICLE II

          	
            The Class A(2019-1) Notes

          	
            7

          

    	 	 	 	 
	 	
            Section 2.01.

          	
            Creation and Designation

          	
            7

          
	 	
            Section 2.02.

          	
            Specification of Required Subordinated Amount and other Terms

          	
            7

          
	 	
            Section 2.03.

          	
            Interest Payment

          	
            7

          
	 	
            Section 2.04.

          	
            Payments of Interest and Principal

          	
            8

          
	 	
            Section 2.05.

          	
            Form of Delivery of Class A(2019-1) Notes; Depository; Denominations

          	
            8

          
	 	
            Section 2.06.

          	
            Delivery and Payment for the Class A(2019-1) Notes

          	
            8

          
	 	
            Section 2.07.

          	
            Targeted Deposits to the Accumulation Reserve Account

          	
            8

          
	 	 	 	 

    	
            ARTICLE III

          	
            Representations and Warranties

          	9

    	 	 	 	 
	 	
            Section 3.01.

          	
            Issuer’s Representations and Warranties

          	9

    

    

    
      

      - i -

      
        

    

    
     

    THIS CLASS A(2019-1) TERMS DOCUMENT (this “Terms Document”), by and between BA CREDIT CARD TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”),
      having its principal office at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, and THE BANK OF NEW YORK MELLON, a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), is made and entered into
      as of September 13, 2019.

     

    Pursuant to this Terms Document, the Issuer and the Indenture Trustee shall create a new tranche of Class A Notes and shall specify the principal terms thereof.

     

    ARTICLE I

     

    

    Definitions and Other Provisions of General Application

     

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

     

    
      	 	
              (1)

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

            

    

     

    
      	 	
              (2)

            	
              all other terms used herein which are defined in the Third Amended and Restated BAseries Indenture Supplement, dated as of December 17, 2015 (as modified, amended or supplemented from time to time, the “Indenture

                  Supplement”), between the Issuer and the Indenture Trustee, or the Fourth Amended and Restated Indenture, dated as of December 17, 2015 (as modified, amended or supplemented from time to time, the “Indenture”), between the
                Issuer and the Indenture Trustee, as acknowledged and accepted by BANA, as Servicer, either directly or by reference therein, have the meanings assigned to them therein;

            

    

     

    
      	 	
              (3)

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

            

    

     

    
      	 	
              (4)

            	
              all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this Terms Document as originally executed;

            

    

     

    
      	 	
              (5)

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

            

       

      

    

    
      

      - 1 -

      
        

      

    

    
    
      	 	
              (6)

            	
              in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Indenture Supplement or the Indenture, the terms and provisions of
                this Terms Document shall be controlling;

            

    

     

    
      	 	
              (7)

            	
              each capitalized term defined herein shall relate only to the Class A(2019-1) Notes and no other tranche of Notes issued by the Issuer; and

            

    

     

    
      	 	
              (8)

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

            

    

     

    “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period Length is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b)
      otherwise, the period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first Transfer Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of
      the Class A(2019-1) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the first Transfer Date following and including the July 2020 Transfer Date for which the Quarterly Excess Available Funds
      Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 24 months prior to the Expected Principal Payment Date, (iii) the Monthly Period following the first Transfer Date
      following and including the January 2021 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 3%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 18 months prior
      to the Expected Principal Payment Date, and (iv) the Monthly Period following the first Transfer Date following and including the March 2021 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 4%, but in such event
      the Accumulation Reserve Funding Period shall not be required to commence earlier than 16 months prior to the Expected Principal Payment Date and (y) ending on the close of business on the last day of the Monthly Period preceding the earlier to occur
      of (i) the Expected Principal Payment Date for the Class A(2019-1) Notes and (ii) the date on which the Class A(2019-1) Notes are paid in full.

     

    “Base Rate” means, with respect to any Monthly Period, the sum of (i) the Weighted Average Interest Rates for the Outstanding BAseries Notes and the Class D Certificate (as such term is
      defined in the Series 2001‐D Supplement), (ii) the Net Servicing Fee Rate (as such term is defined in the Series 2001‐D Supplement) and (iii) so long as BANA or The Bank of New York Mellon is the Servicer, the Servicer Interchange Rate, in each case,
      for such Monthly Period.

     

    “BAseries Servicer Interchange” means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicer Interchange (as such term is defined in the Series 2001‐D
      Supplement) with respect to such Monthly Period and (b) a fraction the numerator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period and the denominator of which is the Weighted Average
      Available Funds Allocation Amount for all series of Notes for such Monthly Period.

     

    

    
      

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    “Class A(2019-1) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated therein as a Class A(2019-1) Note and duly executed
      and authenticated in accordance with the Indenture.

     

    “Class A(2019-1) Noteholder” means a Person in whose name a Class A(2019-1) Note is registered in the Note Register.

     

    “Class A(2019-1) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes is paid in full,
      (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article VI thereof.

     

    “Class A Required Subordinated Amount of Class B Notes” is defined in Section 2.02(a). 

     

    “Class A Required Subordinated Amount of Class C Notes” is defined in Section 2.02(b).

     

    “Controlled Accumulation Amount” means $104,166,667; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section

        3.10(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount shall be the amount specified in the definition of “Controlled Accumulation Amount” in the Indenture Supplement.

     

    “Excess Available Funds Percentage” means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such
      Monthly Period.

     

    “Expected Principal Payment Date” means August 15, 2022.

     

    “Initial Dollar Principal Amount” means $1,250,000,000.

     

    “Interest Payment Date” means the fifteenth day of each month, or if such fifteenth day is not a Business Day, the next succeeding Business Day, commencing October 15, 2019.

     

    “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from
      and including the Issuance Date) through the day preceding such Interest Payment Date.

     

    “Issuance Date” means September 13, 2019.

     

    “Legal Maturity Date” means January 15, 2025.

     

    “Note Interest Rate” means a per annum rate equal to 1.74%.

     

    

    
      

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    “Paying Agent” means The Bank of New York Mellon.

     

    “Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is (a) the amount of Available Funds allocated to the
      BAseries pursuant to Section 501 of the Indenture, plus (b) the amount of Available Funds distributed pursuant to Sections 4.06(a)(ii) and (iii) of the Series 2001‐D Supplement, plus (c) any Interest Funding sub‐Account
      Earnings on the related Transfer Date, plus (d) any amounts to be treated as BAseries Available Funds pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement, plus (e) the BAseries Servicer Interchange for such Monthly
      Period, minus (f) the excess, if any, of the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over the sum of the aggregate amount to be treated as BAseries Available Funds for such Monthly Period pursuant to
      Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub‐Account for any tranche of BAseries Notes for such Monthly Period, minus
      (g) the BAseries Investor Default Amount for such Monthly Period, minus (h) the Aggregate Class D Investor Default Amount (as such term is defined in the Series 2001‐D Supplement) for such Monthly Period, and the denominator of which is the Weighted
      Average Floating Allocation Investor Interest (as such term is defined in the Series 2001‐D Supplement) for such Monthly Period.

     

    “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose
      of this definition, any Note authenticated and delivered under Section 306 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note.

     

    “Quarterly Excess Available Funds Percentage” means, with respect to the July 2020 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of
      which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

     

    “Record Date” means, for any Transfer Date, the last day of the preceding Monthly Period.

     

    “Required Accumulation Reserve sub-Account Amount” means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding
      Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a
      lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

     

    “Servicer Interchange Rate” means, for any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the BAseries Servicer Interchange for such Monthly Period, and the
      denominator of which is the Weighted Average Floating Allocation Investor Interest (as such term is defined in the Series 2001‐D Supplement) for such Monthly Period.

     

    

    
      

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    “Stated Principal Amount” means $1,250,000,000.

     

    “Weighted Average Interest Rates” means, with respect to any Outstanding Notes of a class or tranche of the BAseries or the Class D Certificate (as such term is defined in the Series 2001‐D
      Supplement), or of all of the Outstanding Notes of the BAseries and the Class D Certificate, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes on such date or, in the case of the Class D
      Certificate, based on the Class D Investor Interest (as such term is defined in the Series 2001‐D Supplement) on such date) of the following rates of interest:

     

    (a)        in the case of the Class D Certificate or a tranche of Dollar Interest-bearing Notes with no Derivative Agreement for interest, the rate of interest applicable to that tranche or the Class
      D Certificate on that date;

     

    (b)        in the case of a tranche of Discount Notes, the rate of accretion (converted to an accrual rate) of that tranche on that date;

     

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

     

    (d)       in the case of a tranche of Notes with a non-Performing Derivative Agreement for interest, the rate specified for that date in the related terms document.

     

    Section 1.02.       Governing Law; Submission to Jurisdiction; Agent for Service of Process.  This Terms Document shall be governed by and construed in accordance with the laws of the State
      of Delaware, without regard to principles of conflict of laws.  The parties hereto declare that it is their intention that this Terms Document shall be regarded as made under the laws of the State of Delaware and that the laws of said State shall be
      applied in interpreting its provisions in all cases where legal interpretation shall be required.  Each of the parties hereto agrees (a) that this Terms Document involves at least $100,000.00, and (b) that this Terms Document has been entered into by
      the parties hereto in express reliance upon 6 DEL. C. § 2708.  Each of the parties hereto hereby irrevocably and unconditionally agrees (a) to be subject to the jurisdiction of the courts of the State of Delaware and of the federal courts
      sitting in the State of Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of legal
      process, and (2) that, to the fullest extent permitted by applicable law, service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service constituting evidence
      of valid service, and that service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the same legal force and effect as if served upon such party personally within the State of Delaware.

     

    

    
      

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    Section 1.03.        Counterparts.  This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts
      will together constitute but one and the same instrument.

     

    Section 1.04.      Ratification of Indenture and Indenture Supplement.  As supplemented by this Terms Document, each of the Indenture and the Indenture Supplement is in all respects ratified
      and confirmed and the Indenture as so supplemented by the Indenture Supplement as so supplemented and this Terms Document shall be read, taken and construed as one and the same instrument.

     

    [END OF ARTICLE I]

     

    

    
      

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    ARTICLE II

     

    The Class A(2019-1) Notes

     

    Section 2.01.         Creation and Designation.  There is hereby created a tranche of BAseries Class A Notes to be issued pursuant to the Indenture and the Indenture Supplement to be known as
      the “BAseries Class A(2019-1) Notes.”

     

    Section 2.02.          Specification of Required Subordinated Amount and other Terms.

     

    (a)       For the Class A(2019-1) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes will be an amount equal to 14.28571% of (i) the Adjusted Outstanding
      Dollar Principal Amount of the Class A(2019-1) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2019-1) Notes shall have occurred, if an Event of Default and acceleration of the Class A(2019-1) Notes shall have
      occurred or if the Class A Usage of the Class B Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of close of business on the day
      immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on which the Class A Usage of Class B Required Subordinated Amount exceeded zero.

     

    (b)        For the Class A(2019-1) Notes for any date of determination, the Class A Required Subordinated Amount of Class C Notes will be an amount equal to 12.69841% of (i) the Adjusted Outstanding
      Dollar Principal Amount of the Class A(2019-1) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2019-1) Notes shall have occurred, if an Event of Default and acceleration of the Class A(2019-1) Notes shall have
      occurred or if the Class A Usage of the Class C Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of close of business on the day
      immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on which the Class A Usage of Class C Required Subordinated Amount exceeded zero.

     

    (c)       The Issuer may change the percentages set forth in clause (a) or (b) above without the consent of any Noteholder so long as the Issuer has (i) received written confirmation from each Note
      Rating Agency that has rated any Outstanding Notes of the BAseries that the change in either of such percentages will not result in a Ratings Effect with respect to any Outstanding Notes of the BAseries and (ii) delivered to the Indenture Trustee and
      the Note Rating Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion. 

     

    Section 2.03.          Interest Payment.

     

    (a)        For each Interest Payment Date (other than the first Interest Payment Date), the amount of interest due with respect to the Class A(2019-1) Notes shall be an amount equal to one-twelfth of
      the product of (i) the Note Interest Rate times (ii) the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes determined as of the Record Date preceding the related Transfer Date; provided,
      however, that for the first Interest Payment Date the amount of interest due is $1,933,333.33.  Interest on the Class A(2019-1) Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months.

     

    

    
      

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    (b)       Pursuant to Section 3.03 of the Indenture Supplement, on each Transfer Date, the Indenture Trustee shall deposit into the Class A(2019-1) Interest Funding sub-Account the portion of
      BAseries Available Funds allocable to the Class A(2019-1) Notes. 

     

    Section 2.04.         Payments of Interest and Principal.  Any installment of interest or principal, if any, payable on any Class A(2019-1) Note which is punctually paid or duly provided for
      by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2019-1) Note (or one or more Predecessor Notes) is registered on the
      Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day
      preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on
      the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee.

     

    The right of the Class A(2019-1) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class A(2019-1) Termination Date.

     

    Section 2.05.          Form of Delivery of Class A(2019-1) Notes; Depository; Denominations.

     

    (a)        The Class A(2019-1) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202 and 301(i) of the Indenture, respectively.

     

    (b)      The Depository for the Class A(2019-1) Notes shall be The Depository Trust Company, and the Class A(2019-1) Notes shall initially be registered in the name of Cede & Co., its nominee.

     

    (c)        The Class A(2019-1) Notes will be issued in minimum denominations of $5,000 and multiples of $1,000 in excess of that amount.

     

    Section 2.06.         Delivery and Payment for the Class A(2019-1) Notes.  The Issuer shall execute and deliver the Class A(2019-1) Notes to the Indenture Trustee for authentication, and the
      Indenture Trustee shall deliver the Class A(2019-1) Notes when authenticated, each in accordance with Section 303 of the Indenture.

     

    Section 2.07.        Targeted Deposits to the Accumulation Reserve Account.  The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation
      Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount.

     

    [END OF ARTICLE II]

     

    

    
      

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    ARTICLE III

     

    

    Representations and Warranties

     

    Section 3.01.         Issuer’s Representations and Warranties.  The Issuer makes the following representations and warranties as to the Collateral Certificate on which the Indenture
      Trustee is deemed to have relied in acquiring the Collateral Certificate.  Such representations and warranties speak as of the execution and delivery of this Terms Document, but shall survive until the termination of this Terms Document.  Such
      representations and warranties shall not be waived by any of the parties to this Terms Document unless the Issuer has obtained written confirmation from each Note Rating Agency that there will be no Ratings Effect with respect to such waiver.

     

    (a)       The Indenture creates a valid and continuing security interest (as defined in the Delaware UCC) in the Collateral Certificate in favor of the Indenture Trustee, which security interest is
      prior to all other liens, and is enforceable as such as against creditors of and purchasers from the Issuer.

     

    (b)       The Collateral Certificate constitutes either an “account,” a “general intangible,” an “instrument,” or a “certificated security,” each within the meaning of the Delaware UCC.

     

    (c)        At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the Issuer owned and had good and marketable title to the
      Collateral Certificate free and clear of any lien, claim or encumbrance of any Person.

     

    (d)       The Issuer has caused, within ten days of the execution of the Indenture, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions
      under applicable law in order to perfect the security interest in the Collateral Certificate granted to the Indenture Trustee pursuant to the Indenture.

     

    (e)       Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise
      conveyed the Collateral Certificate.  The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral covering the Collateral Certificate other than any financing
      statement relating to the security interest granted to the Indenture Trustee pursuant to the Indenture or any financing statement that has been terminated.  The Issuer is not aware of any judgment or tax lien filings against the Issuer.

     

    (f)         All original executed copies of the Collateral Certificate have been delivered to the Indenture Trustee.

     

    (g)      At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the Collateral Certificate had no marks or notations indicating
      that it has been pledged, assigned or otherwise conveyed to any Person other than the Indenture Trustee.

     

    [END OF ARTICLE III]

    

    

    
      

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

     

    

    	 	
            BA CREDIT CARD TRUST,

          
	 	
            by BA CREDIT CARD FUNDING, LLC,

          
	 	
            as Beneficiary and not in its individual capacity

          
	 	 
	 	
            By:

          	

          
	 	 	
            Name:  Keith W. Landis

          
	 	 	
            Title:  CEO & President

          

    
       

      

      [Signature Page to the Class A(2019-1) Terms Document]

       

      

    

    
      

      
        

      

    

    	 	
            THE BANK OF NEW YORK MELLON, as 

            Indenture Trustee

          
	 	
            and not in its individual capacity

          
	 	 	 
	 	
            By:

          	
            

            

          
	 	 	
            Name:  

          
	 	 	
            Title:  

          

    

    

    [Signature Page to the Class A(2019-1) Terms Document]

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