Document:

Exhibit 4.10

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                    CHASE CREDIT CARD OWNER TRUST 2002-5

                              TRUST AGREEMENT

                                  between

              CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,
                                as Depositor

                                    and

                          WILMINGTON TRUST COMPANY
                              as Owner Trustee

                         Dated as of July 16, 2002

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                             TABLE OF CONTENTS

                                                                         Page
                                ARTICLE I.
                                DEFINITIONS
SECTION 1.1.  Capitalized Terms.............................................1

                                ARTICLE II.
                               ORGANIZATION
SECTION 2.1.  Name..........................................................3
SECTION 2.2.  Office........................................................3
SECTION 2.3.  Purposes and Powers...........................................3
SECTION 2.4.  Appointment of Owner Trustee..................................4
SECTION 2.5.  Initial Capital Contribution of Trust Estate..................4
SECTION 2.6.  Declaration of Trust..........................................5
SECTION 2.7.  Title to Owner Trust Property.................................5
SECTION 2.8.  Situs of Owner Trust..........................................5
SECTION 2.9.  Representations and Warranties of the Depositor...............5
SECTION 2.10.  Liability of Certificateholder...............................6

                               ARTICLE III.
                  CERTIFICATES AND TRANSFER OF INTERESTS
SECTION 3.1.  Initial Ownership.............................................6
SECTION 3.2.  The Certificate...............................................7
SECTION 3.3.  Execution, Authentication and Delivery of Certificates........7
SECTION 3.4.  Restrictions on Transfer......................................7
SECTION 3.5.  Mutilated, Destroyed, Lost or Stolen Certificate..............7
SECTION 3.6.  Authenticating Agent..........................................8
SECTION 3.7.  Actions of Certificateholder..................................9

                                ARTICLE IV.
                         ACTIONS BY OWNER TRUSTEE
SECTION 4.1.  Prior Notice to Certificateholder with Respect to Certain
                Matters.....................................................9

                                ARTICLE V.
                   AUTHORITY AND DUTIES OF OWNER TRUSTEE
SECTION 5.1.  General Authority.............................................10
SECTION 5.2.  General Duties................................................10
SECTION 5.3.  Action upon Instruction.......................................11
SECTION 5.4.  No Duties Except as Specified in this Agreement or in
                Instructions................................................11
SECTION 5.5.  No Action Except under Specified Documents or
                 Instructions...............................................12
SECTION 5.6.  Restrictions..................................................12
SECTION 5.7.  Doing Business in Other Jurisdictions.........................12

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                                ARTICLE VI.
                         CONCERNING OWNER TRUSTEE
SECTION 6.1.  Acceptance of Trusts and Duties...............................13
SECTION 6.2.  Furnishing of Documents.......................................14
SECTION 6.3.  Representations and Warranties................................14
SECTION 6.4.  Reliance; Advice of Counsel...................................15
SECTION 6.5.  Not Acting in Individual Capacity.............................16
SECTION 6.6.  Owner Trustee May Own Notes...................................16

                               ARTICLE VII.
                       COMPENSATION OF OWNER TRUSTEE
SECTION 7.1.  Owner Trustee's Fees and Expenses.............................16
SECTION 7.2.  Indemnification...............................................16
SECTION 7.3.  Payments to Owner Trustee.....................................17

                               ARTICLE VIII.
                      TERMINATION OF TRUST AGREEMENT
SECTION 8.1.  Termination of Trust Agreement................................17

                                ARTICLE IX.
          SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES
SECTION 9.1.  Eligibility Requirements for Owner Trustee....................18
SECTION 9.2.  Resignation or Removal of Owner Trustee.......................18
SECTION 9.3.  Successor Owner Trustee.......................................19
SECTION 9.4.  Merger or Consolidation of Owner Trustee......................20
SECTION 9.5.  Appointment of Co-Trustee or Separate Trustee.................20

                                ARTICLE X.
                               MISCELLANEOUS
SECTION 10.1.  Supplements and Amendments...................................21
SECTION 10.2.  No Legal Title to Owner Trust Estate in Certificateholder....22
SECTION 10.3.  Limitations on Rights of Others..............................22
SECTION 10.4.  Notices......................................................23
SECTION 10.5.  Severability.................................................23
SECTION 10.6.  Separate Counterparts........................................23
SECTION 10.7.  Successors and Assigns.......................................23
SECTION 10.8.  Nonpetition Covenants.  .....................................23
SECTION 10.9.  No Recourse..................................................23
SECTION 10.10.  Headings....................................................24
SECTION 10.11.  GOVERNING LAW...............................................24
SECTION 10.12.  Depositor Payment Obligation................................24
SECTION 10.13.  Acceptance of Terms of Agreement............................24
SECTION 10.14.  Integration of Documents....................................24

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                                   EXHIBITS

    Exhibit A  -      Form of Certificate

                                     iii

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         TRUST AGREEMENT dated as of July 16, 2002 between CHASE MANHATTAN
BANK USA, NATIONAL ASSOCIATION ("Chase USA"), a national banking
association having its principal executive offices located at White Clay
Center Building 200, Route 273, Newark, Delaware 19711, as the depositor
(in its capacity as the depositor, the "Depositor") and WILMINGTON TRUST
COMPANY, a Delaware banking corporation, as the owner trustee (the "Owner
Trustee").

                                 ARTICLE I.

                                DEFINITIONS

         SECTION 1.1. Capitalized Terms. (a) For all purposes of this
Agreement, the following terms shall have the meanings set forth below:

         "Administrator" means Chase Manhattan Bank USA, National
Association, or any successor Administrator under the Deposit and
Administration Agreement.

         "Agreement" means this Chase Credit Card Owner Trust 2002-5 Trust
Agreement, as the same may be amended, modified or otherwise supplemented
from time to time.

         "Basic Documents" means the Indenture, this Agreement, the Deposit
and Administration Agreement, the Note Underwriting Agreement and other
documents delivered in connection herewith and therewith.

         "Certificate" means the certificate evidencing the beneficial
interest of the Certificateholder in the Owner Trust, substantially in the
form attached hereto as Exhibit A.

         "Certificateholder" means Chase Manhattan Bank USA, National
Association, and its successors and permitted assigns.

         "Code" means the Internal Revenue Code of 1986, as amended.

         "Corporate Trust Office" means, with respect to the Owner Trustee,
the principal corporate trust office of the Owner Trustee located at Rodney
Square North, 1100 North Market Street, Wilmington, DE 19801; or such other
address as the Owner Trustee may designate by notice to the Depositor, or
the principal corporate trust office of any successor Owner Trustee (the
address of which the successor Owner Trustee will notify the
Certificateholder and the Depositor).

         "Deposit and Administration Agreement" means the Deposit and
Administration Agreement, dated as of July 16, 2002, between the Owner
Trustee, on behalf of the Owner Trust, and Chase Manhattan Bank USA,
National Association, as Depositor and as Administrator, as the same may be
amended, supplemented or otherwise modified from time to time.

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         "Depositor" means Chase Manhattan Bank USA, National Association,
in its capacity as Depositor hereunder and its successors and assigns in
such capacity.

         "Expenses" has the meaning assigned to such term in Section 7.2.

         "Indemnified Parties" shall have the meaning assigned to such term
in Section 7.2.

         "Indenture Trustee" means The Bank of New York, not in its
individual capacity but solely as Indenture Trustee under the Indenture,
and any successor Indenture Trustee under the Indenture.

         "Noteholder" has the meaning assigned to such term in the
Indenture.

         "Owner Trust" means the trust created by this Agreement.

         "Owner Trust Estate" means all right, title and interest of the
Owner Trustee in and to the property and rights assigned to the Owner
Trustee pursuant to Section 2.5 of this Agreement and Section 2.1 of the
Deposit and Administration Agreement, all monies, securities, instruments
and other property on deposit from time to time in the accounts established
hereunder and all other property of the Owner Trust from time to time,
including any rights of the Owner Trustee on behalf of the Owner Trust
pursuant to the Deposit and Administration Agreement.

         "Owner Trustee" means Wilmington Trust Company, a Delaware banking
corporation, not in its individual capacity but solely as owner trustee for
the Chase Credit Card Owner Trust 2002-5 under this Agreement (unless
otherwise specified herein), and any successor Owner Trustee hereunder.

         "Requirements of Law" means, for any Person, the certificate of
incorporation or articles of association and by-laws or other
organizational or governing documents of such Person, and any law, treaty,
rule or regulations, or determination of an arbitrator or Governmental
Authority, in each case applicable to or binding upon such Person or to
which such Person is subject, whether federal, state or local (including
without limitation, usury laws, the federal Truth in Lending Act and
Regulation Z and Regulation B of the Board of Governors of the Federal
Reserve System).

         "Secretary of State" means the Secretary of State of the State of
Delaware.

         "SFAS 140" means Statement of Financial Accounting Standards No.
140, Accounting for Transfers and Servicing of Financial Assets and
Extinguishments of Liabilities.

                    (b) All terms defined in this Agreement shall have the
defined meanings when used in any certificate or other document made or
delivered pursuant hereto unless otherwise defined therein.

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                    (c) As used in this Agreement and in any certificate or
other document made or delivered pursuant hereto or thereto, accounting
terms not defined in this Agreement or in any such certificate or other
document, and accounting terms partly defined in this Agreement or in any
such certificate or other document to the extent not defined, shall have
the respective meanings given to them under generally accepted accounting
principles. To the extent that the definitions of accounting terms in this
Agreement or in any such certificate or other document are inconsistent
with the meanings of such terms under generally accepted accounting
principles, the definitions contained in this Agreement or in any such
certificate or other document shall control.

                    (d) The words "hereof," "herein," "hereunder," and
words of similar import when used in this Agreement shall refer to this
Agreement as a whole and not to any particular provision of this Agreement;
Section and Exhibit references contained in this Agreement are references
to Sections and Exhibits in or to this Agreement unless otherwise
specified; and the term "including" shall mean "including without
limitation."

                    (e) The definitions contained in this Agreement are
applicable to the singular as well as the plural forms of such terms and to
the masculine as well as to the feminine and neuter genders of such terms.

                                ARTICLE II.

                                ORGANIZATION

         SECTION 2.1. Name. The trust created hereby shall be referred to
for convenience as "Chase Credit Card Owner Trust 2002-5" (hereinafter, the
"Owner Trust"). The Owner Trust shall not be a "business trust" as defined
in 12 Del.C. 3801.

         SECTION 2.2. Office. The office of the Owner Trust shall be in
care of the Owner Trustee at the Corporate Trust Office or at such other
address as the Owner Trustee may designate by written notice to the
Certificateholder and the Depositor.

         SECTION 2.3. Purposes and Powers. The purpose of the Owner Trust
is, and the Owner Trustee shall have the power and authority, on behalf of
the Owner Trust to engage in the following activities:

         (a) to issue the Notes in the name of the Owner Trust pursuant to
the Indenture and the Certificate pursuant to this Agreement, and to sell,
transfer or exchange the Notes and the Certificate;

         (b) to acquire the property and assets set forth in the Deposit
and Administration Agreement from the Depositor pursuant to the terms
thereof, to make payments or distribu-

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tions on the Notes and the Certificate and to make deposits to and withdrawals
from the Reserve Account and other accounts established under the Indenture;

         (c) to assign, grant, transfer, pledge, mortgage and convey the
Owner Trust Estate to the Indenture Trustee pursuant to the Indenture and
to hold, manage and distribute to the Certificateholder pursuant to the
terms of the Deposit and Administration Agreement any portion of the Owner
Trust Estate released from the Lien of, and remitted to the Owner Trust
pursuant to, the Indenture;

         (d) to enter into and perform its obligations under the Basic
Documents to which it is a party;

         (e) to engage in those activities, including entering into
agreements, that are necessary, suitable or convenient to accomplish the
foregoing or are incidental thereto or connected therewith, which
activities cannot be contrary to the status of the Trust as a "qualifying
special purpose entity" under SFAS 140 and any successor rule thereto; and

         (f) subject to compliance with the Basic Documents, to engage in
such other activities as may be required in connection with conservation of
the Owner Trust Estate and the making of distributions to the
Certificateholder and the Noteholders, which activities cannot be contrary
to the status of the Trust as a "qualifying special purpose entity" under
SFAS 140 and any successor rule thereto.

The Owner Trustee, on behalf of the Owner Trust, is hereby authorized to
engage in the foregoing activities. Neither the Owner Trustee, nor the
Owner Trust, shall engage in any activity other than in connection with the
foregoing or other than as required or authorized by the terms of this
Agreement or the other Basic Documents. For purposes of SFAS 140, the
parties hereto intend that (a) the Trust shall be treated as a "qualifying
special purpose entity" as such term is used in SFAS 140 and any successor
rule thereto and (b) the power and authority of the Owner Trust as stated
this Section 2.3 shall be limited in accordance with paragraph 35 of SFAS
140.

         SECTION 2.4. Appointment of Owner Trustee. The Depositor hereby
appoints the Owner Trustee as trustee of the Owner Trust effective as of
the date hereof, to have all the rights, powers and duties set forth
herein.

         SECTION 2.5. Initial Capital Contribution of Trust Estate. The
Depositor hereby sells, assigns, transfers, conveys and sets over to the
Owner Trustee, as of the date hereof, $1.00. The Owner Trustee hereby
acknowledges receipt in trust from the Depositor, as of the date hereof, of
the foregoing contribution, which shall constitute the initial Owner Trust
Estate. The Depositor shall pay the organizational expenses of the Owner
Trust as they may arise or shall, upon the request of the Owner Trustee,
promptly reimburse the Owner Trustee for any such expenses paid by the
Owner Trustee.

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         SECTION 2.6. Declaration of Trust. The Owner Trustee hereby
declares that it will hold the Owner Trust Estate in trust upon and subject
to the conditions set forth herein for the use and benefit of the
Certificateholder, subject to the obligations of the Owner Trustee, on
behalf of the Owner Trust, under the Basic Documents. It is the intention
of the parties hereto that the Owner Trust constitute a common law trust
duly formed in accordance with the laws of the State of Delaware and that
this Agreement constitutes the governing instrument of such trust. It is
the intention of the parties hereto that, solely for United States income
and franchise tax purposes, the Owner Trust shall be treated as a division
or branch of the Depositor. The parties agree that, unless otherwise
required by appropriate tax authorities, they will take no action contrary
to the foregoing intention. Effective as of the date hereof, the Owner
Trustee shall have all rights, powers and duties set forth herein with
respect to accomplishing the purposes of the Owner Trust.

         SECTION 2.7. Title to Owner Trust Property. Legal title to all the
Owner Trust Estate shall be vested at all times in the Owner Trustee, on
behalf of the Owner Trust, except where applicable law in any jurisdiction
requires title to any part of the Owner Trust Estate to be vested in a
co-trustee or a separate trustee, in which case title to such part shall be
deemed to be vested in the co-trustee and/or separate trustee, as the case
may be.

         SECTION 2.8. Situs of Owner Trust. The Owner Trust will be located
and administered in the State of Delaware. All bank accounts maintained by
the Owner Trustee on behalf of the Owner Trust shall be located in the
State of Delaware or the State of New York. Payments will be received by
the Owner Trust only in Delaware or New York, and payments and
distributions will be made by the Owner Trust only from Delaware or New
York. The only office of the Owner Trust will be at the Corporate Trust
Office of the Owner Trustee in Delaware.

         SECTION 2.9. Representations and Warranties of the Depositor. The
Depositor hereby represents and warrants to the Owner Trustee that:

               (i) The Depositor has been duly organized and is validly
          existing as a national banking association in good standing under
          the laws of the United States of America, with power and
          authority to own its properties and to conduct its business as
          such properties are currently owned and such business is
          presently conducted.

               (ii) The Depositor has the corporate power and authority to
          execute and deliver this Agreement and to carry out its terms;
          the Depositor has full power and authority to sell and assign the
          property to be sold and assigned to and deposited with the Owner
          Trustee pursuant to this Agreement and the Deposit and
          Administration Agreement, on behalf of the Owner Trust, and the
          Depositor has duly authorized such sale and assignment and
          deposit to the Owner Trustee, on behalf of the Owner Trust, by
          all necessary

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          action; and the execution, delivery and performance of this
          Agreement has been duly authorized by the Depositor by all necessary
          action.

               (iii) The consummation of the transactions contemplated by
          this Agreement and the other Basic Documents and the fulfillment
          of the terms hereof, do not conflict with, result in any breach
          of any of the terms and provisions of, or constitute (with or
          without notice or lapse of time) a default under, the articles of
          association or bylaws of the Depositor, or conflict with or
          breach any of the material terms or provisions of or constitute
          (with or without notice or lapse of time) a default under any
          indenture, agreement or other instrument to which the Depositor
          is a party or by which it is bound; nor result in the creation or
          imposition of any Lien upon any of its properties pursuant to the
          terms of any such indenture, agreement or other instrument; nor
          violate any law or, to the best of the Depositor's knowledge, any
          order, rule or regulation applicable to the Depositor of any
          court or of any Federal or state regulatory body, administrative
          agency or other governmental instrumentality having jurisdiction
          over the Depositor or its properties.

               (iv) There are no proceedings or investigations pending or,
          to the best knowledge of the Depositor, threatened against the
          Depositor before any court, regulatory body, administrative
          agency, or other tribunal or governmental instrumentality having
          jurisdiction over the Depositor (i) asserting the invalidity of
          any of the Basic Documents to which the Depositor is a party,
          (ii) seeking to prevent the consummation of any of the
          transactions contemplated by any of the Basic Documents, to which
          the Depositor is a party, (iii) seeking any determination or
          ruling that, in the reasonable judgment of the Depositor, would
          materially and adversely affect the performance by the Depositor
          of its obligations under the Basic Documents to which the
          Depositor is a party, or (iv) seeking any determination or ruling
          that would materially and adversely affect the validity or
          enforceability of the Basic Documents to which the Depositor is a
          party.

         SECTION 2.10. Liability of Certificateholder. The
Certificateholder shall not have any personal liability for any liability
or obligation of the Owner Trustee or the Owner Trust.

                                ARTICLE III.

                   CERTIFICATES AND TRANSFER OF INTERESTS

         SECTION 3.1. Initial Ownership. Upon the formation of the Owner
Trust by the contribution by the Depositor pursuant to Section 2.5, the
Depositor shall be the sole beneficiary of the Owner Trust.

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         SECTION 3.2. The Certificate. (a) The Certificate shall be issued
substantially in the form of Exhibit A, which is incorporated by reference
herein. The Certificate shall be executed on behalf of the Owner Trust by
manual or facsimile signature of an Authorized Officer or other authorized
signatory of the Owner Trustee. A Certificate bearing the manual or
facsimile signatures of individuals who were, at the time when such
signatures shall have been affixed, authorized to sign on behalf of the
Owner Trust, shall be validly issued and entitled to the benefit of this
Agreement, notwithstanding that such individuals or any of them shall have
ceased to be so authorized prior to the authentication and delivery of such
Certificate or did not hold such offices at the date of authentication and
delivery of such Certificate. The Certificate shall not entitle its Holder
to any benefit under this Agreement, or be valid for any purpose, unless
there shall appear on such Certificate a certificate of authentication
substantially in the form set forth in Exhibit A, executed by the Owner
Trustee, or the Owner Trustee's authentication agent, by manual or
facsimile signature; such authentication shall constitute conclusive
evidence that such Certificate shall have been duly authenticated and
delivered hereunder. The Certificate shall be dated the date of its
authentication.

         (b) The Certificateholder shall be entitled to receive
distributions from the Owner Trust Estate only in accordance with this
Agreement and the Deposit and Administration Agreement. In no event shall
the Depositor or the Certificateholder be entitled to possession of, or be
permitted to encumber any part of, the Owner Trust Estate.

         SECTION 3.3. Execution, Authentication and Delivery of
Certificates. Concurrently with the initial deposit of the Series
Certificate with the Owner Trustee, on behalf of the Owner Trust, pursuant
to the Deposit and Administration Agreement, the Owner Trustee shall cause
the Certificate to be executed on behalf of the Owner Trust, authenticated
and delivered to or upon the written order of the Depositor, signed by its
chairman of the board, its president or any vice president, without further
action by the Depositor.

         SECTION 3.4. Restrictions on Transfer. To the fullest extent
permitted by applicable law, the Certificate (or any interest therein) may
not be sold, transferred, assigned, participated, pledged or otherwise
disposed of by the Depositor to any Person.

         SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificate. If
(a) the mutilated Certificate shall be surrendered to the Owner Trustee, or
if the Owner Trustee shall receive evidence to its satisfaction of the
destruction, loss or theft of the Certificate and (b) there shall be
delivered to the Owner Trustee such security or indemnity as may be
required by it to save it harmless, then the Owner Trustee shall execute
and the Owner Trustee, or the Owner Trustee's authenticating agent, shall
authenticate and deliver, in exchange for or in lieu of the mutilated,
destroyed, lost or stolen Certificate, a new Certificate. In connection
with the issuance of any new Certificate under this Section 3.5, the Owner
Trustee may require the payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection therewith. Any
duplicate Certificate issued pursuant to this Section shall constitute
conclusive evidence of an ownership interest in the Owner Trust, as if
originally issued, whether or not

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the lost, stolen or destroyed Certificate shall be found at any time. The
provisions of this Section 3.5 are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement of the
mutilated, destroyed, lost or stolen Certificate.

         SECTION 3.6. Authenticating Agent. (a) The Owner Trustee may
appoint one or more authenticating agents with respect to the Certificate
which shall be authorized to act on behalf of the Owner Trustee in
authenticating the Certificate in connection with the issuance, delivery,
registration of transfer, exchange or repayment of the Certificate.
Whenever reference is made in this Agreement to the authentication of the
Certificate by the Owner Trustee or the Owner Trustee's certificate of
authentication, such reference shall be deemed to include authentication
on behalf of the Owner Trustee by an authenticating agent and a certificate
of authentication executed on behalf of the Owner Trustee by an
authenticating agent. Each authenticating agent shall be subject to
acceptance by the Depositor.

         (b) Any institution succeeding to the corporate agency business of
an authenticating agent shall continue to be an authenticating agent
without the execution or filing of any paper or any further act on the part
of the Owner Trustee or such authenticating agent.

         (c) An authenticating agent may at any time resign by giving
written notice of resignation to the Owner Trustee and the Depositor. The
Owner Trustee may at any time terminate the agency of an authenticating
agent by giving notice of termination to such authenticating agent and to
the Depositor. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time an authenticating agent shall cease to
be acceptable to the Owner Trustee or the Depositor, the Owner Trustee
promptly may appoint a successor authenticating agent with the consent of
the Depositor. Any successor authenticating agent upon acceptance of its
appointment hereunder shall become vested with all the rights, powers and
duties of its predecessor hereunder, with like effect as if originally
named as an authenticating agent.

         (d) The Depositor shall pay the authenticating agent from time to
time reasonable compensation for its services under this Section 3.6.

         (e) The provisions of Sections 6.1, 6.3, 6.4, 6.6, 7.1 and 7.2
shall be applicable to any authenticating agent.

         (f) Pursuant to an appointment made under this Section 3.6, the
Certificate may have endorsed thereon, in lieu of the Owner Trustee's
certificate of authentication, an alternate certificate of authentication
in substantially the following form:

         This is the Certificate referred to in the within-mentioned Trust
Agreement.

                                     or

WILMINGTON TRUST COMPANY                    WILMINGTON TRUST COMPANY

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not in its individual capacity             not in its individual capacity
but solely as Owner Trustee for the        but solely as Owner Trustee for the
Chase Credit Card Owner Trust 2002-5       Chase Credit Card Owner Trust 2002-5

                                            By: ______________________________
                                                     Authenticating Agent

By: ______________________________          By: ______________________________
         Authorized Signatory                        Authorized Signatory

         SECTION 3.7. Actions of Certificateholder. (a) Any request,
demand, authorization, direction, notice, consent, waiver or other action
provided by this Agreement to be given or taken by the Certificateholder
may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by the Certificateholder in person or by
agent duly appointed in writing; and except as herein otherwise expressly
provided, such action shall become effective when such instrument or
instruments are delivered to the Owner Trustee and, when required, to the
Depositor or the Servicer. Proof of execution of any such instrument or of
a writing appointing any such agent shall be sufficient for any purpose of
this Agreement and conclusive in favor of the Owner Trustee, the Depositor
and the Servicer, if made in the manner provided in this Section 3.7.

         (b) The fact and date of the execution by the Certificateholder of
any such instrument or writing may be proved in any reasonable manner
which the Owner Trustee deems sufficient.

         (c) The Owner Trustee may require such additional proof of any
matter referred to in this Section 3.7 as it shall deem necessary.

                                ARTICLE IV.

                          ACTIONS BY OWNER TRUSTEE

         SECTION 4.1. Prior Notice to Certificateholder with Respect to
Certain Matters. With respect to the following matters, the Owner Trustee
shall not take action unless at least 30 days before the taking of such
action, the Owner Trustee shall have notified the Certificateholder in
writing of the proposed action:

         (a) the initiation of any claim or lawsuit on behalf of the Owner
Trust (except claims or lawsuits brought to collect on the Series
Certificate) and the compromise of any

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material action, claim or lawsuit brought by or against the Owner Trust or the
Owner Trustee (except with respect to the aforementioned claims or lawsuits to
collect on the Series Certificate);

         (b) the amendment of the Indenture by a supplemental indenture in
circumstances where the consent of any Noteholder is required;

         (c) the amendment of the Indenture by a supplemental indenture in
circumstances where the consent of any Noteholder is not required and such
amendment materially adversely affects the interest of the
Certificateholder;

         (d) the amendment, change or modification of the Deposit and
Administration Agreement, except any amendment where the consent of the
Certificateholder is not required under the terms of the Deposit and
Administration Agreement; or

         (e) the appointment pursuant to the Indenture of a successor
Indenture Trustee or the consent to the assignment by the Note Registrar,
the Paying Agent, the Indenture Trustee or the Certificate Registrar of its
obligations under the Indenture.

The Owner Trustee shall notify the Certificateholder in writing of any
appointment of a successor Paying Agent, Authenticating Agent or
Certificate Registrar within five Business Days thereof.

                                 ARTICLE V.

                   AUTHORITY AND DUTIES OF OWNER TRUSTEE

         SECTION 5.1. General Authority. The Owner Trustee is authorized
and directed to execute and deliver the Basic Documents to which the Owner
Trustee, on behalf of the Owner Trust, is to be a party and each
certificate or other document required to be executed on behalf of the
Owner Trust that is attached as an exhibit to or contemplated by the Basic
Documents or any amendment thereto or other agreement, in each case, in
such form as the Depositor shall approve as evidenced conclusively by the
Owner Trustee's execution thereof and the Depositor's execution of the
related documents. In addition to the foregoing, the Owner Trustee is
authorized to take all actions required to be taken on behalf of the Owner
Trust pursuant to the Basic Documents. The Owner Trustee is further
authorized from time to time to take such action as the Administrator
directs in writing with respect to the Basic Documents, except to extent
that the Basic Documents expressly require the consent of the Depositor for
such action.

         SECTION 5.2. General Duties. It shall be the duty of the Owner
Trustee to discharge (or cause to be discharged) all of its
responsibilities pursuant to the terms of this Agreement and the other
Basic Documents and to administer the Owner Trust in the interest of the
Certificateholder, subject to the Basic Documents and in accordance with
the provisions of

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this Agreement. Notwithstanding the foregoing, the Owner Trustee shall be
deemed to have discharged its duties and responsibilities hereunder and under
the Basic Documents to the extent the Administrator has agreed in the Deposit
and Administration Agreement to perform any act or to discharge any duty of
the Owner Trustee hereunder or under any other Basic Document, and the Owner
Trustee shall not be liable for the default or failure of the Administrator to
carry out its obligations under the Deposit and Administration Agreement.

         SECTION 5.3. Action upon Instruction. (a) The Certificateholder
may, by written instruction, direct the Owner Trustee in the management of
the Owner Trust. Such direction may be exercised at any time by written
instruction of the Certificateholder.

         (b) Notwithstanding the foregoing, the Owner Trustee shall not be
required to take any action hereunder or under any other Basic Document if
the Owner Trustee shall reasonably determine, or shall have been advised by
counsel in writing, that such action is likely to result in personal
liability to the Owner Trustee (in such capacity or individually), is
contrary to the terms of this Agreement or any other Basic Document or is
contrary to law.

         (c) Whenever the Owner Trustee is unable to decide between
alternative courses of action permitted or required by the terms of this
Agreement or any other Basic Document or is unsure as to the application of
any provision of this Agreement or any other Basic Document, or if any such
provision is ambiguous as to its application, or is, or appears to be, in
conflict with any other applicable provision, or in the event that this
Agreement permits any determination by the Owner Trustee or is silent or is
incomplete as to the course of action that the Owner Trustee is required to
take with respect to a particular set of facts, the Owner Trustee may give
notice (in such form as shall be appropriate under the circumstances) to
the Certificateholder requesting instruction as to the course of action to
be adopted, and to the extent the Owner Trustee acts in good faith in
accordance with any written instruction of the Certificateholder received,
the Owner Trustee shall not be liable on account of such action to any
Person. If the Owner Trustee shall not have received appropriate
instruction within ten days of such notice (or within such shorter period
of time as reasonably may be specified in such notice or may be necessary
under the circumstances) it may, but shall be under no duty to, take or
refrain from taking such action, not inconsistent with this Agreement or
the other Basic Documents, as it shall deem to be in the best interests of
the Certificateholder, and shall have no liability to any Person for such
action or inaction.

         SECTION 5.4. No Duties Except as Specified in this Agreement or in
Instructions. The Owner Trustee shall undertake to perform such duties and
only such duties as are specifically set forth in this Agreement and the
other Basic Documents, and no implied covenants or obligations shall be
read into this Agreement or the other Basic Documents. The Owner Trustee
shall not have any duty or obligation to manage, make any payment with
respect to, register, record, sell, dispose of, or otherwise deal with the
Owner Trust Estate, or to otherwise take or refrain from taking any action
under, or in connection with, any document contemplated hereby to which the
Owner Trustee is a party, except as expressly provided by the terms of this

                                      11
<PAGE>

Agreement or in any document or written instruction received by the Owner
Trustee pursuant to Section 5.3; and no implied duties or obligations shall
be read into this Agreement or any other Basic Document against the Owner
Trustee. The Owner Trustee shall have no responsibility for filing any
financing or continuation statement in any public office at any time or to
otherwise perfect or maintain the perfection of any security interest or
lien granted to it hereunder or to prepare or file any filing for the Owner
Trust with the Securities and Exchange Commission or to record this
Agreement or any other Basic Document. The Owner Trustee nevertheless
agrees that it will, at its own cost and expense, promptly take all action
as may be necessary to discharge any Liens on any part of the Owner Trust
Estate that result from actions by, or claims against, the Owner Trustee,
in its individual capacity, that are not related to the ownership or the
administration of the Owner Trust Estate.

         SECTION 5.5. No Action Except under Specified Documents or
Instructions. The Owner Trustee shall not manage, control, use, sell,
dispose of or otherwise deal with any part of the Owner Trust Estate except
(i) in accordance with the powers granted to and the authority conferred
upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with
the Basic Documents, and (iii) in accordance with any document or
instruction delivered to the Owner Trustee pursuant to Section 5.3.

         SECTION 5.6. Restrictions. The Owner Trustee shall not (a) take
any action that is inconsistent with the purposes of the Owner Trust set
forth in Section 2.3 or (b) take any action or amend this Agreement in any
manner that, to the actual knowledge of a Responsible Officer of the Owner
Trustee, would result in the Owner Trust becoming taxable as a corporation
for United States federal income tax purposes. The Certificateholder shall
not direct the Owner Trustee to take action that would violate the
provisions of this Section.

         SECTION 5.7. Doing Business in Other Jurisdictions. (a)
Notwithstanding anything contained herein to the contrary, the Owner Trustee
shall not be required to take any action in any jurisdiction other than in the
State of Delaware, other than as set forth in the last sentence of this
Section 5.7, if the taking of such action will (i) require the consent or
approval or authorization or order of or the giving of notice to, or the
registration with or the taking of any other action in respect of, any state
or other governmental authority or agency of any jurisdiction other than the
State of Delaware; (ii) result in any fee, tax or other governmental charge
under the laws of any jurisdiction or any political subdivisions thereof in
existence on the date hereof other than the State of Delaware becoming payable
by the Owner Trustee; or (iii) subject the Owner Trustee to personal
jurisdiction in any jurisdiction other than the State of Delaware for causes
of action arising from acts unrelated to the consummation of the transactions
by the Owner Trustee, as the case may be, contemplated hereby. The Owner
Trustee shall be entitled to obtain advice of counsel (which advice shall be
an expense of the Depositor) to determine whether any action required to be
taken pursuant to this Agreement results in the consequences described in
clauses (i), (ii) and (iii) of the preceding sentence. In the event that said
counsel advises the Owner Trustee that such action will result in such
consequences, the Owner Trustee will, at the expense

                                      12
<PAGE>

of the Depositor, appoint an additional trustee pursuant to Section 9.5 to
proceed with such action.

                                ARTICLE VI.

                          CONCERNING OWNER TRUSTEE

         SECTION 6.1. Acceptance of Trusts and Duties. The Owner Trustee
accepts the trusts hereby created and agrees to perform its duties
hereunder with respect to such trusts but only upon the terms of this
Agreement. The Owner Trustee also agrees to disburse all moneys actually
received by it constituting part of the Owner Trust Estate upon the terms
of the other Basic Documents and this Agreement. The Owner Trustee shall
not be answerable or accountable hereunder or under any Basic Document
under any circumstances, except (i) for its own willful misconduct, bad
faith or gross negligence or (ii) in the case of the breach of any
representation or warranty contained in Section 6.3 expressly made by the Owner
Trustee. In particular, but not by way of limitation (and subject to the
exceptions set forth in the preceding sentence):

         (a) The Owner Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer of the Owner Trustee
unless it is proved that the Owner Trustee was grossly negligent in
ascertaining the pertinent facts;

         (b) The Owner Trustee shall not be liable with respect to any
action it takes or omits to take in good faith in accordance with the
instructions of the Certificateholder given pursuant to Section 5.3;

         (c) No provision of this Agreement or any other Basic Document
shall require the Owner Trustee to expend or risk funds or otherwise incur
any financial liability in its own performance of any of its rights or
powers hereunder or under any other Basic Document if the Owner Trustee
shall have reasonable grounds for believing that repayment of such funds or
adequate indemnity against such risk or liability is not assured or
provided to it;

         (d) Under no circumstances shall the Owner Trustee be liable for
indebtedness evidenced by or arising under any of the Basic Documents,
including the principal of and interest on the Notes;

         (e) The Owner Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Agreement or for the
due execution hereof by the Depositor or for the form, character,
genuineness, sufficiency, value or validity of any of the Owner Trust
Estate or for or in respect of the validity or sufficiency of the Basic
Documents, other than the certificate of authentication on the Certificate,
shall not be accountable for the use or application by the Depositor of the
proceeds from the Certificate, and the Owner Trustee shall

                                      13
<PAGE>

in no event assume or incur any liability, duty or obligation to any
Noteholder or to the Certificateholder, other than as expressly provided for
herein and in the other Basic Documents;

         (f) The Owner Trustee shall not be liable for the default or
misconduct of the Indenture Trustee, the Administrator or the Servicer
under any of the Basic Documents or otherwise, and the Owner Trustee shall
have no obligation or liability to perform the obligations to be performed
on behalf of the Owner Trust under this Agreement or the other Basic
Documents that are required to be performed by the Administrator under the
Deposit and Administration Agreement or the Indenture Trustee under the
Indenture;

         (g) The Owner Trustee shall be under no obligation to exercise any
of the rights or powers vested in it by this Agreement, or to institute,
conduct or defend any litigation under this Agreement or otherwise or in
relation to this Agreement or any other Basic Document, at the request,
order or direction of the Certificateholder, unless the Certificateholder
has offered to the Owner Trustee security or indemnity satisfactory to it
against the costs, expenses and liabilities that may be incurred by the
Owner Trustee therein or thereby. The right of the Owner Trustee to perform
any discretionary act enumerated in this Agreement or in any other Basic
Document shall not be construed as a duty, and the Owner Trustee shall not
be answerable for other than its gross negligence, bad faith or willful
misconduct in the performance of any such act; and

         (h) The Owner Trustee, upon receipt of any resolutions,
certificates, statements, opinions, reports, documents, orders or other
instruments furnished to the Owner Trustee that shall be specifically
required to be furnished pursuant to any provision of this Agreement or the
other Basic Documents, shall examine them to determine whether they conform
to the requirements of this Agreement or such other Basic Document;
provided, however, that the Owner Trustee shall not be responsible for the
accuracy or content of any such resolution, certificate, statement,
opinion, report, document, order or other instrument furnished to the Owner
Trustee pursuant to this Agreement or the other Basic Documents.

         SECTION 6.2. Furnishing of Documents. The Owner Trustee shall
furnish to the Certificateholder promptly upon receipt of a written request
therefor, duplicates or copies of all reports, notices, requests, demands,
certificates, financial statements and any other instruments furnished to
the Owner Trustee under the Basic Documents.

         SECTION 6.3. Representations and Warranties. Wilmington Trust
Company, in its individual capacity, hereby represents and warrants to the
Depositor, for the benefit of the Certificateholder, that:

         (a) It is a banking corporation duly organized and validly
existing in good standing under the laws of the State of Delaware and
having an office within the State of Delaware. It has all requisite
corporate power, authority and legal right to execute, deliver and perform
its obligations under this Agreement.

                                      14
<PAGE>

         (b) It has taken all corporate action necessary to authorize the
execution and delivery by it of this Agreement, and this Agreement will be
executed and delivered by one of its officers who is duly authorized to
execute and deliver this Agreement on its behalf.

         (c) Neither the execution nor the delivery by it of this
Agreement, nor the consummation by it of the transactions contemplated
hereby nor compliance by it with any of the terms or provisions hereof will
contravene any federal or Delaware law, governmental rule or regulation
governing the banking or trust powers of the Owner Trustee or any judgment,
writ, decree or order applicable to it, or constitute any default under its
charter documents or by-laws or, with or without notice or lapse of time,
any indenture, mortgage, contract, agreement or instrument to which it is a
party or by which any of its properties may be bound.

         (d) The execution, delivery and performance by Wilmington Trust
Company of this Agreement does not require the authorization, consent, or
approval of, the giving of notice to, the filing or registration with, or
the taking of any other action in respect of, any governmental authority or
agency of the State of Delaware or the United States of America regulating
the corporate trust activities of Wilmington Trust Company.

         (e) This Agreement has been duly authorized, executed and
delivered by Wilmington Trust Company and shall constitute the legal,
valid, and binding agreement of Wilmington Trust Company, not in its
individual capacity but solely as Owner Trustee for the Chase Credit Card
Owner Trust 2002-5, enforceable in accordance with its terms, except as
such enforcement may be limited by bankruptcy, insolvency, reorganization
and other laws affecting the rights of creditors generally, and by general
principles of equity regardless of whether enforcement is pursuant to a
proceeding in equity or at law.

         SECTION 6.4. Reliance; Advice of Counsel. (a) The Owner Trustee
shall incur no liability to anyone in acting upon any signature,
instrument, notice, resolution, request, consent, order, certificate,
report, opinion, bond or other document or paper believed by it to be
genuine and believed by it to be signed by the proper party or parties. The
Owner Trustee may accept a certified copy of a resolution of the board of
directors or other governing body of any corporate party as conclusive
evidence that such resolution has been duly adopted by such body and that
the same is in full force and effect. As to any fact or matter the method
of the determination of which is not specifically prescribed herein, the
Owner Trustee may for all purposes hereof rely on a certificate, signed by
the president or any vice president or by the treasurer, secretary or other
authorized officers of the relevant party, as to such fact or matter, and
such certificate shall constitute full protection to the Owner Trustee for
any action taken or omitted to be taken by it in good faith in reliance
thereon.

         (b) In the exercise or administration of the trusts hereunder and
in the performance of its duties and obligations under this Agreement or
the other Basic Documents, the Owner Trustee (i) may act directly or
through its agents or attorneys pursuant to agreements

                                      15
<PAGE>

entered into with any of them, and the Owner Trustee shall not be liable for
the conduct or misconduct of such agents or attorneys if such agents or
attorneys shall have been selected by the Owner Trustee with due care and (ii)
may consult with counsel, accountants and other skilled persons knowledgeable
in the relevant area to be selected with reasonable care and employed by it.
The Owner Trustee shall not be liable for anything done, suffered or omitted
in good faith by it in accordance with the written opinion or advice of any
such counsel, accountants or other such persons and not contrary to this
Agreement or any other Basic Document.

         SECTION 6.5. Not Acting in Individual Capacity. Except as provided
in this Article VI, in accepting the trusts hereby created, Wilmington
Trust Company, not in its individual capacity but solely as Owner Trustee
for the Chase Credit Card Owner Trust 2002-5, acts solely as the Owner
Trustee hereunder and not in its individual capacity and all Persons having
any claim against the Owner Trustee by reason of the transactions
contemplated by this Agreement or any other Basic Document shall look only
to the Owner Trust Estate for payment or satisfaction thereof.

         SECTION 6.6. Owner Trustee May Own Notes. The Owner Trustee in its
individual or any other capacity may become the owner or pledgee of the
Notes and may deal with the Depositor, the Indenture Trustee and the
Servicer in banking transactions with the same rights as it would have if
it were not the Owner Trustee.

                                ARTICLE VII.

                       COMPENSATION OF OWNER TRUSTEE

         SECTION 7.1. Owner Trustee's Fees and Expenses. The Owner Trustee
shall receive as compensation for its services hereunder such fees as have
been separately agreed upon before the date hereof between the Depositor
and the Owner Trustee, and the Owner Trustee shall be entitled to be
reimbursed by the Depositor for its other reasonable expenses hereunder,
including the reasonable compensation, expenses and disbursements of such
agents, representatives, experts and counsel as the Owner Trustee may
employ in connection with the exercise and performance of its rights and
its duties hereunder except any such expenses as may arise from its gross
negligence, wilful misfeasance, or bad faith or that is the responsibility
of the Certificateholder under this Agreement.

         SECTION 7.2. Indemnification. The Depositor shall be liable as
primary obligor for, and shall indemnify the Owner Trustee (in such
capacity or individually) and its successors, assigns, agents and servants
(collectively, the "Indemnified Parties") from and against, any and all
liabilities, obligations, losses, damages, taxes, claims, actions and
suits, and any and all reasonable costs, expenses and disbursements
(including reasonable legal fees and expenses) of any kind and nature
whatsoever (collectively, "Expenses") which may at any time be imposed on,
incurred by, or asserted against the Owner Trustee or any Indemnified Party in

                                      16
<PAGE>

any way relating to or arising out of this Agreement, the other Basic
Documents, the Owner Trust Estate, the administration of the Owner Trust
Estate or the action or inaction of the Owner Trustee hereunder, except
only that the Depositor shall not be liable for or required to indemnify
the Owner Trustee from and against Expenses arising or resulting from any
of the matters described in the third sentence of Section 6.1. The
indemnities contained in this Section shall survive the resignation or
termination of the Owner Trustee or the termination of this Agreement. If
any suit, action, proceeding (including any governmental or regulatory
investigation), claim or demand shall be brought or asserted against any
Indemnified Party in respect of which indemnity may be sought pursuant to
this Section 7.2, such Indemnified Party shall promptly notify the
Depositor in writing, and the Depositor upon request of the Indemnified
Party shall retain counsel reasonably satisfactory to the Indemnified Party
(or, with the consent of the Depositor, counsel selected by the Indemnified
Party acceptable to the Depositor) to represent the Indemnified Party and
any others the Depositor may designate in such proceeding and shall pay the
reasonable fees and expenses of such counsel related to such proceeding.
The Depositor shall not be liable for any settlement of any claim or
proceeding effected without its written consent, but if settled with such
consent or if there be a final judgment for the plaintiff, the Depositor
agrees to indemnify any Indemnified Party from and against any loss or
liability by reason of such settlement or judgment. The Depositor shall
not, without the prior written consent of the Indemnified Party, effect any
settlement of any pending or threatened proceeding in respect of which any
Indemnified Party is or could have been a party and indemnity could have
been sought hereunder by such Indemnified Party, unless such settlement
includes an unconditional release of such Indemnified Party from all
liability on claims that are the subject matter of such proceeding.

         SECTION 7.3. Payments to Owner Trustee. Any amounts paid to the
Owner Trustee pursuant to this Article VII shall be deemed not to be a part
of the Owner Trust Estate immediately after such payment.

                               ARTICLE VIII.

                       TERMINATION OF TRUST AGREEMENT

         SECTION 8.1. Termination of Trust Agreement. (a) The Owner Trust
shall terminate upon the final distribution by the Owner Trustee of all
moneys or other property or proceeds of the Owner Trust Estate in
accordance with the terms of the Indenture and the Deposit and
Administration Agreement; provided, that in no event will the Owner Trust
continue more than 21 years after the date hereof. Any money or other
property held as part of the Owner Trust Estate following such distribution
shall be distributed to the Certificateholder. The bankruptcy, death,
incapacity, liquidation, dissolution or termination of the Depositor or
Certificateholder (or any other beneficiary) shall not (x) operate to
revoke or terminate this Agreement or the Owner Trust, or (y) entitle the
Certificateholder's (or any other beneficiary) legal representatives to
claim an accounting or to take any action or proceeding in any court for a
partition or winding up of all

                                      17
<PAGE>

or any part of the Owner Trust or Owner Trustee Estate or (z) otherwise affect
the rights, obligations and liabilities of the parties hereto.

         (b) Except as provided in Section 8.1(a) or 8.1(c), neither the
Depositor nor the Certificateholder shall be entitled to revoke or
terminate the Owner Trust.

         (c) Except as provided in this Section 8.1(c), neither the
Depositor nor the Certificateholder shall be entitled to revoke or
terminate the Owner Trust or this Agreement. The Depositor and the Owner
Trustee acknowledge that the Indenture Trustee, on behalf of the
Noteholders, is a third-party beneficiary of this Agreement and shall be
entitled to enforce the terms of this Agreement to the same extent as if
they were signatories hereto. For so long as the Notes are outstanding,
neither the Owner Trust nor this Agreement shall be revoked without the
prior written consent of the Indenture Trustee. The Depositor and the Owner
Trustee acknowledge that the Indenture Trustee, as an agent of the
Noteholders, maintains a legitimate interest in ensuring that the Owner
Trust is not revoked prior to the fulfillment of the Owner Trust
objectives. In no event may this Agreement be amended without the prior
written consent of the Indenture Trustee if the effect of such amendment is
the revocation or termination of this Owner Trust other than in accordance
with this Section 8.1.

                                ARTICLE IX.

           SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES

         SECTION 9.1. Eligibility Requirements for Owner Trustee. The Owner
Trustee shall at all times be a corporation authorized to exercise
corporate trust powers, having a combined capital and surplus of at least
$50,000,000 and subject to supervision or examination by federal or state
authorities; and having (or having a parent) which has a rating of at least
Baa3 by Moody's, at least BBB- by Standard & Poor's and, if rated by Fitch,
at least BBB- by Fitch, or if not rated, otherwise satisfactory to each
Note Rating Agency. If such corporation shall publish reports of condition
at least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then for the purpose of this Section,
the combined capital and surplus of such corporation shall be deemed to be
its combined capital and surplus as set forth in its most recent report of
condition so published. In case at any time the Owner Trustee shall cease
to be eligible in accordance with the provisions of this Section, the Owner
Trustee shall resign immediately in the manner and with the effect
specified in Section 9.2.

         SECTION 9.2. Resignation or Removal of Owner Trustee. The Owner
Trustee may at any time resign and be discharged from the trusts hereby
created by giving written notice thereof to the Administrator. Upon
receiving such notice of resignation, the Administrator shall promptly
appoint a successor Owner Trustee by written instrument, in duplicate, one
copy of which instrument shall be delivered to the resigning Owner Trustee
and one copy to the successor Owner Trustee. If no successor Owner Trustee
shall have been so appointed and have accepted appointment within 30 days
after the giving of such notice of resignation, the resigning

                                      18
<PAGE>

Owner Trustee may petition any court of competent jurisdiction for the
appointment of a successor Owner Trustee.

         If at any time the Owner Trustee shall cease to be eligible in
accordance with the provisions of Section 9.1 and shall fail to resign
after written request therefor by the Administrator, or if at any time the
Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt
or insolvent, or a receiver of the Owner Trustee or of its property shall
be appointed, or any public officer shall take charge or control of the
Owner Trustee or of its property or affairs for the purpose of
rehabilitation, conservation or liquidation, then the Administrator may
remove the Owner Trustee. If the Administrator shall remove the Owner
Trustee under the authority of the immediately preceding sentence, the
Administrator shall promptly appoint a successor Owner Trustee by written
instrument, in duplicate, one copy of which instrument shall be delivered
to the outgoing Owner Trustee so removed and one copy of which shall be
delivered to the successor Owner Trustee, and payment of all fees owed to
the outgoing Owner Trustee shall be made to the outgoing Owner Trustee.

         Any resignation or removal of the Owner Trustee and appointment of
a successor Owner Trustee pursuant to any of the provisions of this Section
shall not become effective until acceptance of appointment by the successor
Owner Trustee pursuant to Section 9.3 and payment of all fees and expenses
owed to the outgoing Owner Trustee. The Administrator shall provide notice
of such resignation or removal of the Owner Trustee to each of the Note
Rating Agencies.

         SECTION 9.3. Successor Owner Trustee. Any successor Owner Trustee
appointed pursuant to Section 9.2 shall execute, acknowledge and deliver to
the Administrator and to its predecessor Owner Trustee an instrument
accepting such appointment under this Agreement, and thereupon the
resignation or removal of the predecessor Owner Trustee shall become
effective and such successor Owner Trustee, without any further act, deed
or conveyance, shall become fully vested with all the rights, powers,
duties and obligations of its predecessor under this Agreement, with like
effect as if originally named as the Owner Trustee. The predecessor Owner
Trustee shall upon payment of its fees and expenses deliver to the
successor Owner Trustee all documents and statements and monies held by it
under this Agreement; and the Administrator and the predecessor Owner
Trustee shall execute and deliver such instruments and do such other things
as may reasonably be required for fully and certainly vesting and
confirming in the successor Owner Trustee all such rights, powers, duties
and obligations.

         No successor Owner Trustee shall accept appointment as provided in
this Section unless at the time of such acceptance such successor Owner
Trustee shall be eligible pursuant to Section 9.1.

         Upon acceptance of appointment by a successor Owner Trustee
pursuant to this Section, the Administrator shall mail notice of the
successor of such Owner Trustee to the Certificateholder, the Indenture
Trustee, the Noteholders and the Note Rating Agencies. If the

                                      19
<Page>

Administrator shall fail to mail such notice within 10 days after acceptance
of appointment by the successor Owner Trustee, the successor Owner Trustee
shall cause such notice to be mailed at the expense of the Administrator.

         SECTION 9.4. Merger or Consolidation of Owner Trustee. Any
corporation into which the Owner Trustee may be merged or converted or with
which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Owner Trustee shall be a party, or
any corporation succeeding to all or substantially all of the corporate
trust business of the Owner Trustee, shall be the successor of the Owner
Trustee hereunder, provided such corporation shall be eligible pursuant to
Section 9.1, without the execution or filing of any instrument or any
further act on the part of any of the parties hereto, anything herein to
the contrary notwithstanding; provided further that the Owner Trustee shall
mail notice of such merger or consolidation to the Note Rating Agencies.

         SECTION 9.5. Appointment of Co-Trustee or Separate Trustee.
Notwithstanding any other provisions of this Agreement, at any time, for
the purpose of meeting any legal requirements of any jurisdiction in which
any part of the Owner Trust Estate may at the time be located, the
Administrator and the Owner Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint at the expense of the
Depositor one or more Persons approved by the Owner Trustee to act as
co-trustee, jointly with the Owner Trustee, or separate trustee or separate
trustees, of all or any part of the Owner Trust Estate, and to vest in such
Person, in such capacity, such title to the Owner Trust, or any part
thereof, and, subject to the other provisions of this Section, such powers,
duties, obligations, rights and trusts as the Administrator and the Owner
Trustee may consider necessary or desirable. If the Administrator shall not
have joined in such appointment within 15 days after the receipt by it of a
request so to do, the Owner Trustee alone shall have the power to make such
appointment. No co-trustee or separate trustee under this Agreement shall
be required to meet the terms of eligibility as a successor trustee
pursuant to Section 9.1 and no notice of the appointment of any co-trustee
or separate trustee shall be required pursuant to Section 9.3.

         Each separate trustee and co-trustee shall, to the extent
permitted by law, be appointed and act subject to the following provisions
and conditions:

               (i) all rights, powers, duties and obligations conferred or
          imposed upon the Owner Trustee shall be conferred upon and
          exercised or performed by the Owner Trustee and such separate
          trustee or co-trustee jointly (it being understood that such
          separate trustee or co-trustee is not authorized to act
          separately without the Owner Trustee joining in such act), except
          to the extent that under any law of any jurisdiction in which any
          particular act or acts are to be performed, the Owner Trustee
          shall be incompetent or unqualified to perform such act or acts,
          in which event such rights, powers, duties and obligations
          (including the holding of title to the Owner Trust or any portion
          thereof in any such jurisdiction) shall be exercised and
          performed singly by such separate trustee or co-trustee, but
          solely at the direction of the Owner Trustee;

                                      20
<PAGE>

               (ii) no trustee under this Agreement shall be personally
          liable by reason of any act or omission of any other trustee
          under this Agreement; and

               (iii) the Administrator and the Owner Trustee acting jointly
          may at any time accept the resignation of or remove any separate
          trustee or co-trustee.

         Any notice, request or other writing given to the Owner Trustee
shall be deemed to have been given to each of the then separate trustees
and co-trustees, as effectively as if given to each of them. Every
instrument appointing any separate trustee or co-trustee shall refer to
this Agreement and the conditions of this Article. Each separate trustee
and co-trustee, upon its acceptance of the trusts conferred, shall be
vested with the estates or property specified in its instrument of
appointment, either jointly with the Owner Trustee or separately, as may be
provided therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating to the
conduct of, affecting the liability of, or affording protection to, the
Owner Trustee. Each such instrument shall be filed with the Owner Trustee
and a copy thereof given to the Administrator.

         Any separate trustee or co-trustee may at any time appoint the
Owner Trustee as its agent or attorney-in-fact with full power and
authority, to the extent not prohibited by law, to do any lawful act under
or in respect of this Agreement on its behalf and in its name. If any
separate trustee or co-trustee shall become incapable of acting, resign or
be removed, all of its estates, properties, rights, remedies and trusts
shall vest in and be exercised by the Owner Trustee, to the extent
permitted by law, without the appointment of a new or successor trustee.

                                 ARTICLE X.

                               MISCELLANEOUS

         SECTION 10.1. Supplements and Amendments. This Agreement may be
amended by the Depositor and the Owner Trustee, with prior written notice
to the Note Rating Agencies, without the consent of the Indenture Trustee,
any of the Noteholders or the Certificateholder, to cure any ambiguity or
defect, to correct or supplement any provisions in this Agreement or for
the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions in this Agreement or of modifying in any
manner the rights of the Noteholders or the Certificateholder; provided,
however, that such amendment will not (i) as evidenced by an Officer's
Certificate of the Depositor addressed and delivered to the Owner Trustee
and the Indenture Trustee, materially and adversely affect the interest of
any Noteholder or the Owner Trust or significantly change any of the
Trust's permitted activities as described in Section 2.3 and (ii) as
evidenced by an Opinion of Counsel addressed and delivered to the Owner
Trustee and the Indenture Trustee, cause the Owner Trust to be classified
as an association (or a publicly traded partnership) taxable as a
corporation for federal income tax purposes; provided,

                                      21
<PAGE>

further, that the Depositor shall deliver written notice of such amendments to
each Note Rating Agency prior to the execution of any such amendment.

         This Agreement may also be amended from time to time by the
Depositor and the Owner Trustee, with prior written notice to the Note
Rating Agencies, with the prior written consent of the Holders of Notes
evidencing not less than a majority of the Outstanding Amount of the Notes
for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or modifying in any
manner the rights of the Noteholders or the Certificateholder; provided
that no such amendment shall (a) increase or reduce in any manner the
amount of, or accelerate or delay the timing of, collections of payments in
respect of the Series Certificate or distributions that shall be required
to be made for the benefit of the Noteholders or the Certificateholder, or
(b) reduce the aforesaid percentage of the Outstanding Amount of the Notes,
the Holders of which are required to consent to any such amendment.

         Promptly after the execution of any amendment or consent, the
Owner Trustee shall furnish written notification of the substance of such
amendment or consent to the Certificateholder, the Indenture Trustee and
each of the Note Rating Agencies.

         It shall not be necessary for the consent of the Noteholders
pursuant to this Section to approve the particular form of any proposed
amendment or consent, but it shall be sufficient if such consent shall
approve the substance thereof.

         Prior to the execution of any amendment to this Agreement, the
Owner Trustee shall be entitled to receive and rely upon an Opinion of
Counsel stating that the execution of such amendment is authorized or
permitted by this Agreement. The Owner Trustee may, but shall not be
obligated to, enter into any such amendment which affects the Owner
Trustee's own rights, duties or immunities under this Agreement or
otherwise.

         SECTION 10.2. No Legal Title to Owner Trust Estate in
Certificateholder. The Certificateholder shall not have legal title to any
specific property in the Owner Trust Estate. No transfer, by operation of
law or otherwise, of any right, title or interest of the Certificateholder
to and in its ownership interest in the Owner Trust Estate shall operate to
terminate this Agreement or the trusts hereunder or entitle any transferee
to an accounting or to the transfer to it of legal title to any specific
property in the Owner Trust Estate.

         SECTION 10.3. Limitations on Rights of Others. The provisions of
this Agreement are solely for the benefit of the Owner Trustee, the
Depositor, the Certificateholder and, to the extent expressly provided
herein, the Indenture Trustee, the Administrator and the Noteholders, and
nothing in this Agreement, whether express or implied, shall be construed
to give to any other Person any legal or equitable right, remedy or claim
in the Owner Trust Estate or under or in respect of this Agreement or any
covenants, conditions or provisions contained herein.

                                      22
<PAGE>

         SECTION 10.4. Notices. Unless otherwise expressly specified or
permitted by the terms hereof, all notices shall be in writing and shall be
deemed given upon receipt personally delivered, delivered by overnight
courier or mailed certified mail, return receipt requested and shall be
deemed to have been duly given upon receipt, if to the Owner Trustee,
addressed to Wilmington Trust Company, Rodney Square North, 1100 North
Market Street, Wilmington, DE 19890-0001, Attn: Corporate Trust
Administration, if to the Depositor, addressed to, Chase Manhattan Bank
USA, National Association, Attn: Patricia M. Garvey, or, as to each party,
at such other address as shall be designated by such party in a written
notice to each other party.

         SECTION 10.5. Severability. Any provision of this Agreement that
is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and
any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other
jurisdiction.

         SECTION 10.6. Separate Counterparts. This Agreement may be
executed by the parties hereto in separate counterparts, each of which when
so executed and delivered shall be an original, but all such counterparts
shall together constitute but one and the same instrument.

         SECTION 10.7. Successors and Assigns. All covenants and agreements
contained herein shall be binding upon, and inure to the benefit of, the
Depositor, the Owner Trustee and its successors and the Certificateholder
and its successors and permitted assigns, all as herein provided. Any
request, notice, direction, consent, waiver or other instrument or action
by the Certificateholder shall bind the successors and assigns of the
Certificateholder.

         SECTION 10.8. Nonpetition Covenants. Notwithstanding any prior
termination of the Owner Trust or this Agreement, each of the Owner Trustee
(not in its individual capacity) and the Certificateholder, by its
acceptance of the Certificate, covenants and agrees that it shall not at
any time with respect to the Owner Trust or the Master Trust, acquiesce,
petition or otherwise invoke or cause the Owner Trust or the Master Trust
to invoke the process of any court or government authority for the purpose
of commencing or sustaining a case against the Owner Trust or the Master
Trust under any Federal or state bankruptcy, insolvency or similar law or
appointing a receiver, conservator, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of the Owner Trust or the
Master Trust or any substantial part of its property, or ordering the
winding up or liquidation of the affairs of the Owner Trust or the Master
Trust; provided, however, that this Section 10.8 shall not operate to
preclude any remedy described in Article V of the Indenture.

         SECTION 10.9. No Recourse. The Certificateholder by accepting the
Certificate acknowledges that the Certificate does not represent an
interest in or obligation of the Depositor, the Administrator, the Owner
Trustee (in its individual capacity), the Indenture

                                      23
<PAGE>

Trustee or any Affiliate thereof, and no recourse may be had against such
parties or their assets, or against the assets pledged under the Indenture.

         SECTION 10.10. Headings. The headings of the various Articles and
Sections herein are for convenience of reference only and shall not define
or limit any of the terms or provisions hereof.

         SECTION 10.11. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO
ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF
THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

         SECTION 10.12. Depositor Payment Obligation. The Depositor shall
be responsible for payment of the Administrator's fees under the Deposit
and Administration Agreement and shall reimburse the Administrator for all
expenses and liabilities of the Administrator incurred thereunder.

         SECTION 10.13. Acceptance of Terms of Agreement. THE RECEIPT AND
ACCEPTANCE OF THE CERTIFICATE BY THE CERTIFICATEHOLDER, WITHOUT ANY
SIGNATURE OR FURTHER MANIFESTATION OF ASSENT, SHALL CONSTITUTE THE
UNCONDITIONAL ACCEPTANCE BY THE CERTIFICATEHOLDER OF ALL THE TERMS AND
PROVISIONS OF THIS AGREEMENT, AND SHALL CONSTITUTE THE AGREEMENT OF THE
OWNER TRUSTEE, ON BEHALF OF THE OWNER TRUST, THAT THE TERMS AND PROVISIONS
OF THIS AGREEMENT SHALL BE BINDING, OPERATIVE AND EFFECTIVE AS BETWEEN THE
OWNER TRUSTEE AND THE CERTIFICATEHOLDER.

         SECTION 10.14. Integration of Documents. This Agreement, together
with the Deposit and Administration Agreement, constitutes the entire
agreement of the parties hereto and thereto with respect to the subject
matter hereof and thereof and supersedes all prior agreements relating to
the subject matter hereof and thereof.

                         [Signature Page to Follow]

                                      24

<Page>

IN WITNESS WHEREOF, the parties hereto have caused this Trust
Agreement to be duly executed by their respective officers hereunto duly
authorized as of the day and year first above written.

                             WILMINGTON TRUST COMPANY,
                              as Owner Trustee

                             By: /s/ Donald G. MacKelcan
                                 ------------------------------------
                                 Name:  Donald G. MacKelcan
                                 Title: Vice President

                             CHASE MANHATTAN BANK USA,
                               NATIONAL ASSOCIATION,
                               as Depositor

                             By: /s/ Patricia M. Garvey
                                 ------------------------------------
                                 Name:  Patricia M. Garvey
                                 Title: Vice President

<Page>

                                                                      EXHIBIT A

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THIS CERTIFICATE (OR ANY
INTEREST HEREIN) MAY NOT BE TRANSFERRED BY THE OWNER TO ANY PERSON.

                    CHASE CREDIT CARD OWNER TRUST 2002-5

                             OWNER CERTIFICATE

R-1

(This Certificate does not represent an interest in or obligation of Chase
Manhattan Bank USA, National Association, or any of its affiliates, except
to the extent described below.)

         THIS CERTIFIES THAT Chase Manhattan Bank USA, National Association
is the registered owner of one hundred percent (100%) of the beneficial
interest in the Chase Credit Card Owner Trust 2002-5 (the "Owner Trust")
created by Chase Manhattan Bank USA, National Association, a national
banking association (the "Depositor").

         The Owner Trust was created pursuant to the Chase Credit Card
Owner Trust 2002-5 Trust Agreement dated as of July 16, 2002 (the "Trust
Agreement"), between the Depositor and Wilmington Trust Company, as owner
trustee (the "Owner Trustee"). To the extent not otherwise defined herein,
the capitalized terms used herein have the meanings assigned to them in the
Trust Agreement including, as specified in Section 1.1(a).

         This Certificate is the duly authorized Certificate evidencing the
sole beneficial interest in the Owner Trust (herein called the
"Certificate"). This Certificate is issued under and is subject to the
terms, provisions and conditions of the Trust Agreement, to which Trust
Agreement the Certificateholder by virtue of the acceptance hereof assents
and by which the Certificateholder is bound. Three classes of Notes
designated as Class A Floating Rate Asset Backed Notes, Series 2002-5 (the
"Class A Notes"), Class B Floating Rate Asset Backed Notes, Series 2002-5
(the "Class B Notes") and Class C Floating Rate Asset Backed Notes, Series
2002-5 (the "Class C Notes" and, together with the Class A Notes and the
Class B Notes, the "Notes") will be issued under the Indenture dated as of
July 16, 2002 between Wilmington Trust Company, not in its individual
capacity but solely as Owner Trustee for the Owner Trust and The Bank of
New York, as Indenture Trustee.

         Notwithstanding any prior termination of the Trust Agreement, the
Certificateholder, by its acceptance of this Certificate, covenants and
agrees that it shall not at any time with respect to the Owner Trust, the
Depositor or the Master Trust, acquiesce, petition or otherwise invoke or

                             Exhibit A, Page 1
<PAGE>

cause the Owner Trust, the Depositor or the Master Trust to invoke the
process of any court or government authority for the purpose of commencing
or sustaining a case against the Owner Trust, the Depositor or the Master
Trust, under any Federal or state bankruptcy, insolvency or similar law or
appointing a receiver, conservator, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of the Owner Trust, the
Depositor or the Master Trust, or any substantial part of its property, or
ordering the winding up or liquidation of the affairs of the Owner Trust,
the Depositor or the Master Trust.

         Unless the certificate of authentication hereon shall have been
executed by an authorized officer of the Owner Trustee, by manual
signature, this Certificate shall not entitle the Holder hereof to any
benefit under the Trust Agreement or the Deposit and Administration
Agreement or be valid for any purpose.

         THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS
AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE OWNER SHALL BE DETERMINED
IN ACCORDANCE WITH SUCH LAWS.

         IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Owner
Trust and not in its individual capacity, has caused this Certificate to be
duly executed.

                                           CHASE CREDIT CARD OWNER
                                           TRUST 2002-5

                                           WILMINGTON TRUST COMPANY
                                           Not in its individual capacity
                                           but solely as Owner Trustee for the
                                           Chase Credit Card Owner Trust 2002-5

Dated:  _________________, _____              By: ______________________________
                                                       Name:
                                                       Title:

                              Exhibit A, Page 2

<PAGE>

                       CERTIFICATE OF AUTHENTICATION

         This is the Certificate referred to in the within-mentioned Trust
Agreement.

WILMINGTON TRUST COMPANY
not in its individual capacity
but solely as Owner Trustee for the
Chase Credit Card Owner Trust 2002-5

By: ________________________________
         Authorized Signatory

                              Exhibit A, Page 3

<PAGE>

                                                        ANNEX 1 TO EXHIBIT A

Registered Owner and address:

         Chase Manhattan Bank USA, National Association
         500 Stanton Christiana Road, 1st Floor
         Newark, DE 19713

Tax Identification Number: 22-2382028

                         Annex 1 to Exhibit A, Page 1Exhibit 4.11
===============================================================================

              CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,

                       as Depositor and Administrator

                                    and

                    CHASE CREDIT CARD OWNER TRUST 2002-5

                                 as Issuer

                             ==================

                                  DEPOSIT

                                    AND

                          ADMINISTRATION AGREEMENT

                         Dated as of July 16, 2002

                             ===================

===============================================================================
<PAGE>

                             TABLE OF CONTENTS

                                       ARTICLE I
                                      DEFINITIONS

SECTION 1.1         Definitions...........................................1
SECTION 1.2         Usage of Terms........................................1

                                       ARTICLE II
                                 DEPOSIT OF CERTIFICATE

SECTION 2.1         Deposit of Certificate and Initial Deposit............1
SECTION 2.2         Closing...............................................2
SECTION 2.3         Books and Records.....................................2
SECTION 2.4         Holder of the Series Certificate......................3

                                      ARTICLE III
                         DEPOSITOR REPRESENTATIONS AND WARRANTIES

SECTION 3.1         Representations and Warranties of Depositor...........3

                                       ARTICLE IV
                                    ADMINISTRATION

SECTION 4.1         Duties as Administrator...............................5
SECTION 4.2         Records..............................................13
SECTION 4.3         [Reserved]...........................................13
SECTION 4.4         Additional Information To Be Furnished to Issuer.....13
SECTION 4.5         Independence of Administrator........................13
SECTION 4.6         No Joint Venture.....................................13
SECTION 4.7         Other Activities of Administrator....................13
SECTION 4.8         Net Deposits.........................................13

                                        ARTICLE V
                                       TERMINATION

SECTION 5.1         Term of Agreement; Resignation and Removal
                      of Administrator...................................13
SECTION 5.2         Action upon Termination, Resignation or Removal......14
SECTION 5.3         Acquisition of Owner Trust Estate....................15

                                       ARTICLE VI
                                      MISCELLANEOUS

SECTION 6.1         Notices..............................................15
SECTION 6.2         Amendments...........................................16
SECTION 6.3         Protection of Title to Owner Trust...................16

                                      i

<PAGE>

SECTION 6.4         Successors and Assigns...............................17
SECTION 6.5         GOVERNING LAW........................................17
SECTION 6.6         Headings.............................................18
SECTION 6.7         Counterparts.........................................18
SECTION 6.8         Severability.........................................18
SECTION 6.9         Not Applicable to Chase Manhattan Bank
                      USA, National Association in Other Capacities......18
SECTION 6.10        Limitation of Liability of Owner Trustee,
                      Indenture Trustee and Administrator................18
SECTION 6.11        Third-Party Beneficiary..............................19
SECTION 6.12        Nonpetition Covenants................................19
SECTION 6.13        Liability of Administrator...........................19

Exhibit A         Power of Attorney

                                      ii

<PAGE>

         This DEPOSIT AND ADMINISTRATION AGREEMENT, dated as of July 16,
2002 (as amended, supplemented or otherwise modified and in effect from
time to time, this "Agreement"), is made between CHASE MANHATTAN BANK USA,
NATIONAL ASSOCIATION, a national banking association having its principal
executive offices located at White Clay Center Building 200, Route 273,
Newark, Delaware 19711 ("Chase USA," the "Transferor" or the "Depositor" in
its respective capacities as such), and WILMINGTON TRUST COMPANY, not in
its individual capacity but solely as Owner Trustee of Chase Credit Card
Owner Trust 2002-5, a Delaware common law trust, as issuer (the "Issuer").

                           W I T N E S S E T H :
                           - - - - - - - - - - -

         In consideration of the premises and of the mutual agreements
herein contained, the parties hereto agree as follows:

                                 ARTICLE I

                                DEFINITIONS

         SECTION 1.1 Definitions. Whenever used in this Agreement, words
and phrases, unless defined herein or the context otherwise requires, shall
have the meanings set forth in the Indenture.

         SECTION 1.2 Usage of Terms. With respect to all terms in this
Agreement, the singular includes the plural and the plural the singular;
words importing any gender include the other gender; references to
"writing" include printing, typing, lithography, and other means of
reproducing words in a visible form; references to agreements and other
contractual instruments include all subsequent amendments thereto or
changes therein entered into in accordance with their respective terms and
not prohibited by this Agreement; references to Persons include their
permitted successors and assigns; and the term "including" means "including
without limitation." All references herein to Articles, Sections,
Subsections and Exhibits are references to Articles, Sections, Subsections
and Exhibits contained in or attached to this Agreement unless otherwise
specified, and each such Exhibit is part of the terms of this Agreement.

                                 ARTICLE II

                           DEPOSIT OF CERTIFICATE

         SECTION 2.1 Deposit of Certificate and Initial Deposit. (a) In
consideration of the Issuer's delivery of the Notes to and upon the order
of the Depositor, the Depositor does hereby transfer, assign, set-over,
pledge and otherwise convey to the Issuer, without recourse (subject to the
Depositor's obligations herein), all right, title, and interest of the
Depositor in, to and under (i) the Series Certificate, and all money,
instruments, investment property and other property (together with all
earnings, dividends, distributions, income, issues, and profits relating
thereto), distributed or distributable in respect of the Series Certificate
pursuant to the terms of

<PAGE>

the Series Supplement and the Pooling and Servicing Agreement after the
Closing Date and (ii) the initial deposit to the Owner Trust Spread Account in
the amount of $10,000,000 on the Closing Date.

         This Agreement also shall be deemed to be, and hereby is, a
security agreement within the meaning of the UCC, and the conveyance by the
Depositor provided for in this Agreement shall be deemed to be and hereby
is a grant by the Depositor to the Issuer of a security interest in and to
all of the Depositor's right, title and interest, whether now owned or
hereafter acquired, in, to and under all accounts, general intangibles,
chattel paper, instruments, documents, money, deposit accounts, arising
from, or relating to the Series Certificate and the proceeds thereof, to
secure the rights of the Issuer under this Agreement and the obligations of
the Depositor hereunder. The Depositor and the Issuer shall, to the extent
consistent with this Agreement, take such actions as may be necessary to
ensure that the security interest in the Series Certificate created
hereunder will be a perfected security interest of first priority under
applicable law and will be maintained as such throughout the term of this
Agreement.

         It is the intention of the Depositor and the Issuer that (a) the
assignment and transfer herein contemplated constitute a sale of the Series
Certificate, conveying good title thereto free and clear of any liens and
encumbrances, from the Depositor to the Issuer and (b) the Series
Certificate not be part of the Depositor's estate in the event of an
insolvency of the Depositor. In the event that such conveyance is deemed to
be a pledge to secure a loan, the Depositor hereby grants to the Issuer a
first priority perfected security interest in all of the Depositor's right,
title and interest in, to and under the Series Certificate, and in all
proceeds of the foregoing, to secure the loan deemed to be made in
connection with such pledge and, in such event, this Agreement shall
constitute a security agreement under applicable law.

         It is the intention of the parties hereto that the transfer of
Series Certificates to the Trust pursuant to this Agreement be subject to,
and be treated in accordance with, the "Asset Backed Securities
Facilitation Act," Title 6, Chapter 27A of the Delaware Code (the "Delaware
Act") and each of the parties hereto agrees that this Agreement has been
entered into by the parties hereto in express reliance upon the Delaware
Act. For purposes of complying with the requirements of the Delaware Act,
each of the parties hereto hereby agrees that any property, assets or
rights purported to be transferred, in whole or in part, by Chase USA
pursuant to this Agreement shall be deemed to no longer be the property,
assets or rights of Chase USA.

         SECTION 2.2 Closing. The sale of the Series Certificate shall take
place on the Closing Date, simultaneously with the closing of the other
transactions contemplated by the Basic Documents. The Series Certificate
shall then be delivered to the Owner Trustee in Delaware and upon receipt
thereof shall then be delivered by the Owner Trustee to the Indenture
Trustee.

         SECTION 2.3 Books and Records.

          (a) In connection with the transfer, assignment, set-over, pledge
     and conveyance set forth in Section 2.1, the Depositor agrees to record
     and file, at its own

                                      2

<PAGE>

     expense, any financing statements (and continuation statements with
     respect to such financing statements when applicable) required to be
     filed with respect to the Series Certificate assigned by the Depositor
     hereunder, meeting the requirements of applicable state law in such
     manner and in such jurisdictions as are necessary under applicable law to
     perfect the transfer, assignment, set-over, pledge and conveyance of the
     Series Certificate to the Issuer, and to deliver a file-stamped copy of
     such financing statements or other evidence of such filings to the Issuer
     on or prior to the Closing Date (excluding such continuation and similar
     statements, which shall be delivered promptly after filing).

          (b) In connection with the transfer, assignment, set-over, pledge
     and conveyance hereunder, the Depositor further agrees, at its own
     expense, on or prior to the Closing Date to cause the Master Trust
     Trustee to register the Issuer as the registered owner of the Series
     Certificate.

         SECTION 2.4 Holder of the Series Certificate. For so long as the
Series Certificate is pledged to the Indenture Trustee under the Indenture,
the Indenture Trustee initially shall be deemed to be the holder of the
Series Certificate for all purposes under the Pooling and Servicing
Agreement and the Series Supplement. To the extent the Series Certificate
is sold or otherwise transferred, subject to the provisions of Section 5.4
of the Indenture and Section 16 of the Series Supplement, to a third-party
in connection with the sale or liquidation of the Owner Trust Estate
pursuant to the provisions of the Indenture, such transferee shall be
deemed to be the holder of the Series Certificate for all purposes under
the Pooling and Servicing Agreement and the Series Supplement.

                                ARTICLE III

                  DEPOSITOR REPRESENTATIONS AND WARRANTIES

         SECTION 3.1 Representations and Warranties of Depositor. The
Depositor makes the following representations and warranties with respect
to the Series Certificate on which the Issuer is deemed to have relied in
acquiring the Series Certificate. Such representations and warranties speak
as of the execution and delivery of this Agreement, but shall survive the
transfer and assignment of the Series Certificate to the Issuer and the
pledge thereof to the Indenture Trustee pursuant to the Indenture.

          (a) Title. It is the intention of the Depositor (i) that the
     transfer contemplated in subsection 2.1(a) herein constitute either (A) a
     sale of the Series Certificate, or (B) a grant of a valid and continuing
     security interest therein from the Depositor to the Issuer which security
     interest is prior to all other Liens and is enforceable against creditors
     and purchasers from the Depositor and (ii) to the extent that the
     Depositor retains any interest in the Series Certificate after the
     transfer contemplated by subsection 2.1(a) herein, that the grant
     contemplated in subsection 2.1(b) herein constitute a grant of a
     perfected security interest therein from the Depositor to the Indenture
     Trustee for the benefit of the Holders of the Notes and that the
     beneficial interest in the title to the Series Certificate not be part of
     the debtor's estate in the event of the filing of a bankruptcy petition
     by or against the Depositor under any bankruptcy law. Other than

                                      3

<PAGE>

     pursuant to this Agreement, the Series Certificate has not been sold,
     transferred, assigned or pledged by the Depositor to any Person.
     Immediately prior to the transfer and assignment herein contemplated, the
     Depositor owned and had good and marketable title to the Series
     Certificate, free and clear of all Liens, claims, rights or encumbrances
     of others and, immediately upon the transfer thereof, the Issuer shall
     have good and marketable title to the Series Certificate, free and clear
     of all liens, claims, rights or encumbrances of others or a first
     priority perfected security interest therein. The Depositor has not
     authorized the filing of and is not aware of any financing statements
     against the Depositor that include a description of collateral covering
     the Series Certificate other than any financing statement relating to the
     security interest granted to the Issuer hereunder or the security
     interest granted by the Issuer to the Indenture Trustee. The Depositor
     has no actual knowledge of any current statutory or other non-consensual
     liens, including any judgment or tax lien filings against the Debtor, to
     which the Series Certificate is subject.

          (b) Certificated Security. The Series Certificate constitutes a
     "certificated security" within the meaning of the applicable UCC.

          (c) Delivery of Series Certificate. The sole original executed copy
     of the Series Certificate has been delivered to the Issuer and has been
     registered in the name of the Issuer. The Series Certificate has no marks
     or notations indicating that it has been pledged, assigned or otherwise
     conveyed to any Person other than the Issuer, provided that the Series
     Certificate with an undated bond power covering the Series Certificate,
     duly executed by the Issuer and endorsed in blank, shall be delivered to
     the Indenture Trustee, and the Indenture Trustee shall maintain
     possession of the Series Certificate for the benefit of the Holders of
     the Notes, subject to the terms of the Indenture.

          (d) No Consents Required. All approvals, authorizations, consents,
     orders or other actions of any Person or of any Governmental Authority
     required in connection with the execution and delivery by the Depositor
     of this Agreement or any other Basic Document, the performance by the
     Depositor of the transactions contemplated by this Agreement or any other
     Basic Document and the fulfillment by the Depositor of the terms hereof
     and thereof have been obtained or have been completed and are in full
     force and effect (other than approvals, authorizations, consents, orders
     and other actions which if not obtained or completed or in full force or
     effect would not have a material adverse effect on the Depositor or the
     Issuer or upon the collectibility of the proceeds from the Series
     Certificate or upon the ability of the Depositor to perform its
     obligations under this Agreement).

          (e) Transfers Comply. Each of (i) the transfer of the Series
     Certificate by the Depositor to the Issuer pursuant to the terms of this
     Agreement, (ii) the pledge of the Series Certificate by the Depositor to
     the Indenture Trustee for the benefit of the Holders of the Notes
     pursuant to the terms of this Agreement, and (iii) the pledge of the
     Series Certificate by the Issuer to the Indenture Trustee pursuant to the
     terms of the Indenture, comply with the provisions of the Pooling and
     Servicing Agreement and the Series Supplement relating to the transfers
     of the Series Certificate.

                                      4

<PAGE>

          (f) All Actions Taken. All actions necessary under the applicable
     UCC in any jurisdiction to be taken (i) to give the Issuer a first
     priority perfected security interest or ownership interest in the Series
     Certificate, and (ii) to give the Indenture Trustee a first priority
     perfected security interest therein (including, without limitation, UCC
     filings with the Delaware Secretary of State), in each case subject to
     any statutory or other non-consensual liens with respect to the Series
     Certificate, have been taken. The Depositor has no actual knowledge of
     any current statutory or other non-consensual liens to which the Series
     Certificate is subject.

                                 ARTICLE IV

                               ADMINISTRATION

         SECTION 4.1 Duties as Administrator.

         (a) Duties with Respect to the Basic Documents. The Administrator
agrees to perform all its duties as Administrator hereunder. The
Administrator shall monitor the performance of the Issuer and shall advise
the Issuer and the Owner Trustee when action is necessary to comply with
the Issuer's duties under the Indenture or with the Owner Trustee's duties
under the Trust Agreement. The Administrator shall prepare for execution by
the Issuer or the Owner Trustee or shall cause the preparation by other
appropriate persons of all such documents, reports, filings, instruments,
certificates and opinions as it shall be the duty of the Issuer or the
Owner Trustee to prepare, file or deliver pursuant to the Basic Documents
or under applicable law (including tax and securities laws). In furtherance
of the foregoing, the Administrator shall take all appropriate action that
it is the duty of the Issuer or the Owner Trustee to take pursuant to this
Agreement or the Indenture including, without limitation, such of the
foregoing as are required with respect to the following matters under this
Agreement and the Indenture (references are to sections of the Indenture):

               (i) the preparation of or obtaining of the documents and
          instruments required for authentication of the Notes, if any, and
          delivery of the same to the Indenture Trustee (Sections 2.2 and
          2.3);

               (ii) the duty to cause the Note Register to be kept and to
          give the Indenture Trustee notice of any appointment of a new
          Note Registrar and the location, or change in location, of the
          Note Register and the office or offices where Notes may be
          surrendered for registration of transfer or exchange (Section
          2.4);

               (iii) the notification of Noteholders of the final principal
          payment on their Notes (subsection 2.7(h));

               (iv) the preparation, obtaining or filing of the
          instruments, opinions and certificates and other documents
          required for the release of collateral (Section 2.9);

                                      5

<PAGE>

               (v) the preparation of Definitive Notes and arranging the
          delivery thereof (Section 2.12);

               (vi) the duty to cause newly appointed Paying Agents, if
          any, to deliver to the Indenture Trustee the instrument specified
          in the Indenture regarding funds held in trust (Section 2.14);

               (vii) to select Reference Banks, if necessary, or other
          banks from which quotes are obtained for the purpose of
          determining LIBOR (Section 2.16);

               (viii) the maintenance of an office or agency in the City of
          New York for registration of transfer or exchange of Notes
          (Section 3.2);

               (ix) the direction to Paying Agents to pay to the Indenture
          Trustee all sums held in trust by such Paying Agents (Section
          3.3);

               (x) the obtaining and preservation of the Issuer's
          qualification to do business in each jurisdiction in which such
          qualification is or shall be necessary to protect the validity
          and enforceability of the Indenture, the Notes, the Collateral
          and each other instrument and agreement included in the Owner
          Trust Estate (Section 3.4);

               (xi) the preparation of all supplements, amendments,
          financing statements, continuation statements, if any,
          instruments of further assurance and other instruments, in
          accordance with Section 3.5 of the Indenture, necessary to
          protect the Owner Trust Estate (Section 3.5);

               (xii) the obtaining of the Opinion of Counsel on the Closing
          Date and the annual delivery of Opinions of Counsel, in
          accordance with Section 3.6 of the Indenture, as to the Owner
          Trust Estate, and the annual delivery of the Officer's
          Certificate and certain other statements, in accordance with
          Section 3.9 of the Indenture, as to compliance with the Indenture
          (Sections 3.6 and 3.9);

               (xiii) the identification to the Indenture Trustee in an
          Officer's Certificate of a Person with whom the Issuer has
          contracted to perform its duties under the Indenture (subsection
          3.7(b));

               (xiv) the notification of the Indenture Trustee and the Note
          Rating Agencies of a Master Trust Servicer Default pursuant to
          the Pooling and Servicing Agreement and, if such Master Trust
          Servicer Default arises from the failure of the Servicer to
          perform any of its duties under the Pooling and Servicing
          Agreement, the taking of all reasonable steps available to remedy
          such failure (subsection 3.7(d));

                                      6

<PAGE>

               (xv) the preparation and obtaining of documents and
          instruments required for the release of the Issuer from its
          covenants and agreements under the Indenture (subsection
          3.11(b));

               (xvi) the delivery of notice to the Indenture Trustee of
          each Event of Default and each default by the Depositor under
          this Agreement (Section 3.18);

               (xvii) the taking of such further acts as may be reasonably
          necessary or proper to carry out more effectively the purpose of
          the Indenture or to compel or secure the performance and
          observance by the Depositor of its obligations under this
          Agreement (Sections 3.19 and 5.16);

               (xviii) the monitoring of the Issuer's obligations as to the
          satisfaction and discharge of the Indenture and the preparation
          of an Officer's Certificate and the obtaining of the Opinion of
          Counsel and the Independent Certificate relating thereto (Section
          4.1);

               (xix) the compliance with any written directive of the
          Indenture Trustee with respect to the sale of the Owner Trust
          Estate if an Event of Default shall have occurred and be
          continuing (Section 5.4);

               (xx) providing the Indenture Trustee with the information
          necessary to deliver to each Noteholder such information as may
          be reasonably required to enable such Holder to prepare its
          United States federal and state, local income or franchise tax
          returns (Section 6.6);

               (xxi) the preparation and delivery of notice to Noteholders
          of the removal of the Indenture Trustee and the appointment of a
          successor Indenture Trustee (Section 6.8);

               (xxii) the preparation of any written instruments required
          to confirm more fully the authority of any co-trustee or separate
          trustee and any written instruments necessary in connection with
          the resignation or removal of the Indenture Trustee or any
          co-trustee or separate trustee (Sections 6.8 and 6.10);

               (xxiii) the furnishing of the Indenture Trustee with the
          names and addresses of Noteholders during any period when the
          Indenture Trustee is not the Note Registrar (Section 7.1);

               (xxiv) the preparation and, after execution by the Issuer,
          the filing with the Commission and any applicable state agencies
          and the Indenture Trustee of documents required to be filed on a
          periodic basis with, and summaries thereof as may be required by
          rules and regulations prescribed by, the Commission and any
          applicable state agencies and the transmission of such summaries,
          as necessary, to the Noteholders (Section 7.4);

                                      7

<PAGE>

               (xxv) the obtaining of an Officer's Certificate, Opinion of
          Counsel and Independent Certificates, if necessary, for the
          release of the Owner Trust Estate as defined in the Indenture
          (Sections 8.4 and 8.5);

               (xxvi) the preparation of Issuer Orders and Issuer Requests
          and the obtaining of Opinions of Counsel with respect to the
          execution of supplemental indentures and the mailing to the
          Noteholders of notices with respect to such supplemental
          indentures (Sections 9.1 and 9.2);

               (xxvii) the execution of new Notes conforming to any
          supplemental indenture (Section 9.5);

               (xxviii) providing the Indenture Trustee with the form of
          notice necessary to deliver the notification of Noteholders of
          redemption of the Notes (Section 10.2);

               (xxix) the preparation of all Officer's Certificates,
          Opinions of Counsel and Independent Certificates with respect to
          any requests by the Issuer to the Indenture Trustee to take any
          action under the Indenture (Section 11.1(a));

               (xxx) the preparation and delivery of Officer's Certificates
          and the obtaining of Independent Certificates, if necessary, for
          the release of property from the lien of the Indenture (Section
          11.1(b));

               (xxxi) the preparation and delivery to the Noteholders and
          the Indenture Trustee of any agreements with respect to alternate
          payment and notice provisions (Section 11.6); and

               (xxxii) the recording of the Indenture, if applicable
          (Section 11.15).

             (b) Additional Duties.

               (i) In addition to the duties of the Administrator set forth
          above, the Administrator shall keep all books and records,
          perform such calculations and shall prepare for execution by the
          Issuer or the Owner Trustee or shall cause the preparation by
          other appropriate persons of all such documents, reports,
          filings, instruments, certificates and opinions as it shall be
          the duty of the Issuer or the Owner Trustee to keep, perform,
          prepare, file or deliver pursuant to any of the Basic Documents
          and at the request of the Owner Trustee shall take all
          appropriate action that it is the duty of the Issuer or the Owner
          Trustee to take pursuant to the Basic Documents. Subject to
          Section 5 of this Agreement, and in accordance with the
          directions of the Owner Trustee, the Administrator shall
          administer, perform or supervise the performance of such other
          activities in connection with the Owner Trust Estate (including
          the Basic Documents) as are not covered by any of the foregoing
          provisions and as are expressly requested by the Owner Trustee
          and are reasonably within the capability of the Administrator.

                                      8

<PAGE>

               (ii) Notwithstanding anything in this Agreement or the other
          Basic Documents to the contrary, the Administrator shall be
          responsible for promptly notifying the Indenture Trustee in the
          event that any withholding tax is imposed on the Issuer's
          payments (or allocations of income) to a Noteholder. Any such
          notice shall specify the amount of any withholding tax required
          to be withheld by the Owner Trustee pursuant to such provision.

               (iii) Notwithstanding anything in this Agreement or the
          other Basic Documents to the contrary, the Administrator shall be
          responsible for (A) performance of the duties of the Owner
          Trustee and the Issuer set forth in Sections 2.7, 2.10, 2.11,
          2.12, 2.13(d), 5.16, 6.7, 6.10, and 10.1 of the Indenture with
          respect to, among other things, accounting and reports to the
          Certificateholder and the maintenance of certain accounts and (B)
          the preparation, execution and filing of all documents required
          by tax and securities laws relating to the Issuer.

               (iv) The Administrator may satisfy its obligations with
          respect to clauses (ii) and (iii) above by retaining, at the
          expense of the Administrator, a firm of independent public
          accountants (the "Accountants") acceptable to the Indenture
          Trustee which shall perform the obligations of the Administrator
          thereunder.

               (v) The Administrator shall perform the duties of the
          Administrator specified in Sections 9.2 and 9.3 of the Trust
          Agreement required to be performed in connection with the
          resignation or removal of the Owner Trustee, the duties of the
          Administrator specified in Section 9.5 of the Trust Agreement
          required to be performed in connection with the appointment and
          payment of co-Trustees, and any other duties expressly required
          to be performed by the Administrator under the Trust Agreement.

               (vi) In carrying out the foregoing duties or any of its
          other obligations under this Agreement, the Administrator may
          enter into transactions with or otherwise deal with any of its
          Affiliates; provided, however, that the terms of any such
          transactions or dealings shall be in accordance with any
          directions received from the Issuer and shall be, in the
          Administrator's opinion, no less favorable to the Issuer than
          would be available from unaffiliated parties.

               (vii) It is the intention of the parties hereto that the
          Administrator shall, and the Administrator hereby agrees to,
          execute on behalf of the Issuer or the Owner Trustee all such
          documents, reports, filings, instruments, certificates and
          opinions as it shall be the duty of the Issuer or the Owner
          Trustee to prepare, file or deliver pursuant to the Basic
          Documents. In furtherance thereof, the Owner Trustee shall, on
          behalf of itself and of the Issuer, execute and deliver to the
          Administrator, and to each successor Administrator appointed
          pursuant to the terms hereof, one or more powers of attorney
          substantially in the form of Exhibit A hereto, appointing the
          Administrator the attorney-in-fact of the Owner Trustee and the
          Issuer for the purpose of executing on behalf of the Owner

                                      9

<PAGE>

          Trustee and the Issuer all such documents, reports, filings,
          instruments, certificates and opinions.

         (c) Non-Ministerial Matters. (i) With respect to matters that in
the reasonable judgment of the Administrator are non-ministerial, the
Administrator shall not take any action unless within a reasonable time
before the taking of such action, the Administrator shall have notified the
Owner Trustee of the proposed action and the Owner Trustee shall not have
withheld consent or provided an alternative direction. For the purpose of
the preceding sentence, "non-ministerial matters" shall include, without
limitation:

     (A) the initiation of any claim or lawsuit by the Issuer and the
compromise of any action, claim or lawsuit brought by or against the Issuer
(other than in connection with the collection of the Receivables);

     (B) the amendment, change or modification of the Basic Documents;

     (C) the appointment of successor Note Registrars, successor Paying Agents
and successor Indenture Trustees pursuant to the Indenture or the appointment
of successor Administrators or the consent to the assignment by the Note
Registrar, the Paying Agent or the Indenture Trustee of its obligations under
the Indenture; and

     (D) the removal of the Indenture Trustee.

               (ii) Notwithstanding anything to the contrary in this
          Agreement, the Administrator shall not be obligated to, and shall
          not, (x) make any payments to the Noteholders or the
          Certificateholder under the Basic Documents, (y) sell the Owner
          Trust Estate pursuant to the Indenture other than pursuant to a
          written directive of the Indenture Trustee or (z) take any action
          that the Issuer directs the Administrator not to take on its behalf.

         (d) Reports by the Administrator. On or prior to each Transfer
Date, the Administrator will provide to the Indenture Trustee for the
Indenture Trustee to forward to each Noteholder of record, and to the Owner
Trustee, a statement setting forth (to the extent applicable) the following
information as to the Notes with respect to the related Payment Date or the
period since the previous Payment Date, as applicable:

               (i) the amount of the distribution allocable to principal of
          the Notes;

               (ii) the amount of the distribution allocable to interest on
          or with respect to the Notes;

               (iii) the aggregate outstanding principal balance of the
          Notes after giving effect to all payments reported under clause
          (i) above on such date; and

                                      10

<PAGE>

               (iv) the amount, if any, on deposit in the Owner Trust
          Spread Account on such Payment Date, after giving effect to all
          transfers and withdrawals therefrom and all transfers and
          deposits thereto on such Payment Date, and the amount required to
          be on deposit in the Owner Trust Spread Account on such date.

         Each amount set forth pursuant to clauses (i) and (ii) above will
be expressed as a dollar amount per $1,000 of the initial principal balance
of the Notes.

         (e) Owner Trust Accounts. The Administrator shall establish and
maintain, (i) in the name of the Indenture Trustee, for the benefit of the
Noteholders, an Eligible Deposit Account (the "Note Distribution Account"),
bearing a designation clearly indicating that the funds deposited therein
are held for the benefit of the Noteholders. The Administrator shall
establish and maintain, in the name of the Indenture Trustee, for the
benefit of the Class C Noteholders (and, to the extent expressly provided
in the Indenture, the Certificateholder), an Eligible Deposit Account (the
"Owner Trust Spread Account"), and, together with the Note Distribution
Account, the "Owner Trust Accounts"), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the
Class C Noteholders. The Indenture Trustee shall possess all right, title
and interest in all funds on deposit from time to time in the Owner Trust
Accounts and in all proceeds thereof. The Note Distribution Account shall
be under the sole dominion and control of the Indenture Trustee for the
benefit of the Noteholders. The Owner Trust Spread Account shall be under
the sole dominion and control of the Indenture Trustee for the benefit of
the Class C Noteholders (and, to the extent expressly provided in the
Indenture, the Certificateholder). If, at any time, any Owner Trust Account
ceases to be an Eligible Deposit Account, the Administrator shall notify
the Indenture Trustee, and the Indenture Trustee upon being notified (or
the Administrator on its behalf) shall, within 10 Business Days, establish
a new Owner Trust Account which meets the conditions specified in the
definition of Eligible Deposit Account, and shall transfer any cash or any
investments to such new Owner Trust Account. The Indenture Trustee, at the
direction of the Administrator, shall make withdrawals from the Owner Trust
Accounts from time to time, in the amounts and for the purposes set forth
in the Indenture.

         Funds on deposit in the Owner Trust Spread Account shall be
invested at the direction of the Administrator by the Indenture Trustee or
the Paying Agent in Permitted Investments. The Indenture Trustee shall
maintain for the benefit of the Noteholders and the Series
Certificateholder possession of the negotiable instruments or securities,
if any, evidencing such Permitted Investments. No Permitted Investment
shall be disposed of prior to its maturity.

         To the extent so instructed by the Administrator on any Transfer
Date, the Indenture Trustee or the Paying Agent shall, if the amount on
deposit in the Owner Trust Spread Account is greater than the Required
Owner Trust Spread Account Amount for such Transfer Date, pay the amount of
such excess to the Certificateholder pursuant to the Indenture.

                                      11

<PAGE>

         SECTION 4.2 Records. The Administrator shall maintain appropriate
books of account and records relating to services performed hereunder,
which books of account and records shall be accessible for inspection by
the Issuer, the Owner Trustee, the Indenture Trustee and the Depositor at
any time during normal business hours.

         SECTION 4.3 [Reserved]

         SECTION 4.4 Additional Information To Be Furnished to Issuer. The
Administrator shall furnish to the Issuer from time to time such additional
information regarding the Collateral as the Issuer shall reasonably
request, including notification of Noteholders pursuant to Section 4.1(a)
hereof.

         SECTION 4.5 Independence of Administrator. For all purposes of
this Agreement, the Administrator shall be an independent contractor and
shall not be subject to the supervision of the Issuer or the Owner Trustee
with respect to the manner in which it accomplishes the performance of its
obligations hereunder. Unless expressly authorized by the Issuer or the
Owner Trustee, as the case may be, the Administrator shall have no
authority to act for or represent the Issuer or the Owner Trustee in any
way and shall not otherwise be deemed an agent of the Issuer or the Owner
Trustee.

         SECTION 4.6 No Joint Venture. Nothing contained in this Agreement
shall (i) constitute the Administrator and either of the Issuer or the
Owner Trustee as members of any partnership, joint venture, association,
syndicate, unincorporated business or other separate entity, (ii) be
construed to impose any liability as such on any of them or (iii) be deemed
to confer on any of them any express, implied or apparent authority to
incur any obligation or liability on behalf of the others.

         SECTION 4.7 Other Activities of Administrator.

          (a) Nothing herein shall prevent the Administrator or its affiliates
     from engaging in other businesses or, in its sole discretion, from acting
     in a similar capacity as an administrator for any other person or entity
     even though such person or entity may engage in business activities
     similar to those of the Issuer, the Owner Trustee or the Indenture
     Trustee.

          (b) The Administrator and its affiliates may generally engage in any
     kind of business with any person party to a Basic Document, any of its
     affiliates and any person who may do business with or own securities of
     any such person or any of its affiliates, without any duty to account
     therefor to the Issuer, the Owner Trustee or the Indenture Trustee.

         SECTION 4.8 Net Deposits. As an administrative convenience, so
long as Chase USA is the Administrator and the Certificateholder, the
Administrator will be permitted to make the deposit of amounts with respect
to the Series Certificate for or with respect to any Monthly Period net of
distributions to be made to the Certificateholder with respect to such
Monthly Period. The Administrator, however, will account to the Owner
Trustee, the Indenture Trustee

                                      13

<PAGE>

and the Noteholders as if the amounts paid to the Certificateholder were paid
pursuant to the Indenture.

                                 ARTICLE V

                                TERMINATION

         SECTION 5.1 Term of Agreement; Resignation and Removal of
Administrator. This Agreement shall continue in force until (i) the
termination of the Issuer and (ii) the satisfaction and discharge of the
Indenture in accordance with Section 4.1 of the Indenture, upon which event
this Agreement shall automatically terminate.

          (a) Subject to subsections 5.1(d) and (e), the Administrator may
     resign its duties hereunder by providing the Issuer and the Owner Trustee
     with at least 60 days' prior written notice.

          (b) Subject to subsections 5.1(d) and (e), the Issuer may remove the
     Administrator without cause by providing the Administrator with at least
     60 days' prior written notice; provided however, that if any Notes are
     outstanding at the time of the removal, the Rating Agency Condition shall
     have first been satisfied in connection with such removal.

          (c) Subject to subsections 5.1(d) and (e), at the sole option of the
     Issuer, the Administrator may be removed immediately upon written notice
     of termination from the Issuer to the Administrator if any of the
     following events shall occur:

               (i) the Administrator shall default in the performance of
          any of its duties under this Agreement and, after notice of such
          default, shall not cure such default within 10 days (or, if such
          default cannot be cured in such time, shall not give within ten
          days such assurance of cure as shall be reasonably satisfactory
          to the Issuer);

               (ii) a court having jurisdiction in the premises shall enter
          a decree or order for relief, and such decree or order shall not
          have been vacated within 60 days, in respect of the Administrator
          in any involuntary case under any applicable bankruptcy,
          insolvency or other similar law now or hereafter in effect or
          appoint a receiver, liquidator, assignee, custodian, trustee,
          sequestrator or similar official for the Administrator or any
          substantial part of its property or order the winding-up or
          liquidation of its affairs; or

               (iii) the Administrator shall commence a voluntary case
          under any applicable bankruptcy, insolvency or other similar law
          now or hereafter in effect, shall consent to the entry of an
          order for relief in an involuntary case under any such law, or
          shall consent to the appointment of a receiver, liquidator,
          assignee, trustee, custodian, sequestrator or similar official
          for the Administrator or any substantial part of its property,
          shall consent to the taking of possession by

                                      13

<PAGE>

          any such official of any substantial part of its property, shall
          make any general assignment for the benefit of creditors or shall
          fail generally to pay its debts as they become due.

          The Administrator agrees that if any of the events specified in
     clause (ii) or (iii) of this subsection 5.1(c) shall occur, it shall give
     written notice thereof to the Issuer, the Owner Trustee and the Indenture
     Trustee within seven days after the happening of such event.

          (d) No resignation or removal of the Administrator pursuant to this
     Section shall be effective until (i) a successor Administrator shall have
     been appointed by the Issuer and (ii) such successor Administrator shall
     have agreed in writing to be bound by the terms of this Agreement in the
     same manner as the Administrator is bound hereunder.

          (e) The appointment of any successor Administrator shall be
     effective only after the satisfaction of the Rating Agency Condition with
     respect thereto.

          (f) A successor Administrator shall execute, acknowledge and deliver
     a written acceptance of its appointment hereunder to the resigning
     Administrator and to the Issuer. Thereupon the resignation or removal of
     the resigning Administrator shall become effective, and the successor
     Administrator shall have all the rights, powers and duties of the
     Administrator under the Indenture. The successor Administrator shall mail
     a notice of its succession to the Noteholders and the Certificateholder.
     The resigning Administrator shall promptly transfer or cause to be
     transferred all property and any related agreements, documents and
     statements held by it as Administrator to the successor Administrator and
     the resigning Administrator shall execute and deliver such instruments
     and do other things as may reasonably be required for fully and certainly
     vesting in the successor Administrator all rights, powers, duties and
     obligations hereunder.

          (g) In no event shall a resigning Administrator be liable for the
     acts or omissions of any successor Administrator hereunder.

          (h) In the exercise or administration of its duties hereunder and
     under the other Basic Documents, the Administrator may act directly or
     through its agents or attorneys pursuant to agreements entered into with
     any of them, and the Administrator shall not be liable for the conduct or
     misconduct of such agents or attorneys if such agents or attorneys shall
     have been selected by the Administrator with due care.

         SECTION 5.2 Action upon Termination, Resignation or Removal.
Promptly upon the effective date of termination of this Agreement pursuant
to subsection 5.1(a) or the resignation or removal of the Administrator
pursuant to subsection 5.1 (b) or (c), respectively, the Administrator
shall be entitled to be paid all fees and reimbursable expenses accruing to
it to the date of such termination, resignation or removal. The
Administrator shall forthwith upon termination pursuant to subsection
5.1(a) deliver to the Issuer all property and documents of or relating to
the Collateral then in the custody of the Administrator. In the event of
the resignation or removal of the Administrator pursuant to subsection
5.1(b) or (c), respectively, the

                                      14

<PAGE>

Administrator shall cooperate with the Issuer and take all reasonable steps
requested to assist the Issuer in making an orderly transfer of the duties of
the Administrator.

         SECTION 5.3 Acquisition of Owner Trust Estate. If Chase USA
exercises its option to accept retransfer of the Series Certificate
pursuant to Section 4 of the Series Supplement, the Depositor shall (a)
acquire the Series Certificate and all rights related thereto, which
acquisition shall be effective as of the date on which such retransfer
occurs, (b) deliver notice of such acquisition to the Indenture Trustee on
or prior to the related Transfer Date, (c) deposit, on its own behalf and
on behalf of the Issuer pursuant to Section 10.1 of the Indenture, in the
Note Distribution Account on or prior to the related Transfer Date, an
amount equal to the Redemption Price and (d) succeed to all interests in
and to the Issuer.

                                 ARTICLE VI

                               MISCELLANEOUS

         SECTION 6.1 Notices. Any notice, report or other communication
given hereunder shall be in writing and addressed as follows:

         if to the Issuer or the Owner Trustee, to

                 Chase Credit Card Owner Trust 2002-5
                 c/o Wilmington Trust Company
                 Rodney Square North
                 1100 North Market Street
                 Wilmington, DE 19890-0001
                 Attention: Corporate Trust Administration

          with a copy to:

                 Richards, Layton & Finger
                 One Rodney Square
                 Wilmington, DE  19899
                 Attention:  Eric Mazie

          if to the Administrator, to

                 Chase Manhattan Bank USA, National Association
                 500 Stanton Christiana Road, Floor 1
                 Newark, DE  19713
                 Attention: Patricia M. Garvey

          if to the Indenture Trustee, to

                  The Bank of New York
                  101 Barclay Street, 8 West
                  New York, NY  10286

                                      15

<PAGE>

                  Attention: Corporate Trust Administration

or to such other address as any party shall have provided to the other
parties in writing. Any notice required to be in writing hereunder shall be
deemed given if such notice is mailed by certified mail, postage prepaid,
or hand-delivered to the address of such party as provided above, except
that notices to the Indenture Trustee are effective only upon receipt.

         SECTION 6.2 Amendments. This Agreement may be amended from time to
time by a written amendment duly executed and delivered by the Issuer, the
Administrator and the Depositor, with the written consent of the Indenture
Trustee and without the consent of the Noteholders or the
Certificateholder, for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Agreement or of
modifying in any manner the rights of the Noteholders or the
Certificateholder; provided, however, that a copy thereof shall have been
delivered to the Note Rating Agencies and that such amendment will not (i)
as evidenced by an Officer's Certificate of the Depositor addressed and
delivered to the Owner Trustee and the Indenture Trustee, materially and
adversely affect the interests of any Noteholder or the Certificateholder
or significantly change the purposes and activities of the Issuer and (ii)
as evidenced by an Opinion of Counsel addressed to the Owner Trustee and
the Indenture Trustee, cause the Issuer to be classified as an association
(or a publicly traded partnership) taxable as a corporation for federal
income tax purposes. This Agreement may also be amended by the Issuer, the
Administrator and the Depositor with the written consent of the Indenture
Trustee and the Holders of Notes evidencing a majority in the Outstanding
Amount of the Notes for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Agreement or of
modifying in any manner the rights of Noteholders or the Certificateholder;
provided, however, that, a copy thereof shall have been delivered to the
Note Rating Agencies and that without the consent of the holders of all of
the Notes then Outstanding, no such amendment may (i) increase or reduce in
any manner the amount of, or accelerate or delay the timing of, collections
of payments on the Series Certificate or distributions that are required to
be made for the benefit of the Noteholders or (ii) reduce the aforesaid
percentage of the Holders of Notes which are required to consent to any
such amendment, without the consent of the Holders of all the Outstanding
Notes.

         It shall not be necessary for the consent of Noteholders pursuant
to this Section to approve the particular form of any proposed amendment or
consent, but it shall be sufficient if such consent shall approve the
substance thereof.

         SECTION 6.3 Protection of Title to Owner Trust.

          (a) The Depositor shall take all actions necessary and the Issuer
     shall cooperate with the Depositor, if applicable, to perfect, and
     maintain perfection of, the interests of the Issuer in the Series
     Certificate. The Depositor shall execute and file and cause to be
     executed and filed such financing statements and continuation statements,
     all in such manner and in such places as may be required by law fully to
     perfect, maintain, and protect the interest of the Issuer in the Series
     Certificate and in the proceeds thereof and the interest of the Indenture
     Trustee in the Owner Trust Estate and the proceeds thereof. The Depositor
     shall deliver (or cause to be delivered) to the Owner Trustee and

                                      16

<PAGE>

     the Indenture Trustee file-stamped copies of, or filing receipts for, any
     document filed as provided above, as soon as available following such
     filing.

          (b) The Depositor shall not change its name, identity or corporate
     structure in any manner that would, could or might make any financing
     statement or continuation statement filed in accordance with paragraph
     (a) above or otherwise seriously misleading within the meaning of
     9-402(7) of the UCC (regardless of whether such a filing was ever made),
     unless it shall have given the Owner Trustee and the Indenture Trustee at
     least five days' prior written notice thereof and, if applicable, shall
     have timely filed appropriate amendments to any and all previously filed
     financing statements or continuation statements (so that the interest of
     the Issuer or the Indenture Trustee is not adversely affected).

          (c) Each of the Depositor and the Administrator shall have an
     obligation to give the Owner Trustee and the Indenture Trustee at least
     60 days' prior written notice of any relocation of its principal
     executive office if, as a result of such relocation, the applicable
     provisions of the UCC would require the filing of any amendment of any
     previously filed financing or continuation statement or of any new
     financing statement (regardless of whether such a filing was ever made)
     and shall promptly, if applicable, file any such amendment.

          (d) The Administrator shall permit the Indenture Trustee and its
     agents at any time following reasonable notice and during normal business
     hours to inspect, audit and make copies of and abstracts from the
     Administrator's records regarding the Series Certificate.

          (e) The Administrator shall, to the extent required by applicable
     law, cause the Notes to be registered with the Commission pursuant to
     Section 12(b) or Section 12(g) of the Exchange Act within the time
     periods specified in such sections.

         SECTION 6.4 Successors and Assigns. This Agreement may not be
assigned by the Administrator unless such assignment is previously
consented to in writing by the Issuer and the Owner Trustee and subject to
satisfaction of the Rating Agency Condition with respect thereto. An
assignment with such consent and satisfaction, if accepted by the assignee,
shall bind the assignee hereunder in the same manner as the Administrator
is bound hereunder. Notwithstanding the foregoing, this Agreement may be
assigned by the Administrator without the consent of the Issuer or the
Owner Trustee to a corporation or other organization that is a successor
(by merger, consolidation or purchase of assets) to the Administrator,
provided that such successor organization executes and delivers to the
Issuer, the Owner Trustee and the Indenture Trustee an agreement in which
such corporation or other organization agrees to be bound hereunder by the
terms of said assignment in the same manner as the Administrator is bound
hereunder. Subject to the foregoing, this Agreement shall bind any
successors or assigns of the parties hereto.

         SECTION 6.5 GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS,

                                      17

<PAGE>

AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS.

         SECTION 6.6 Headings. The section headings hereof have been
inserted for convenience of reference only and shall not be construed to
affect the meaning, construction or effect of this Agreement.

         SECTION 6.7 Counterparts. This Agreement may be executed in
counterparts, each of which when so executed shall together constitute but
one and the same agreement.

         SECTION 6.8 Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall be ineffective to the
extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof and any such prohibition or unenforceability in
any jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction.

         SECTION 6.9 Not Applicable to Chase Manhattan Bank USA, National
Association in Other Capacities. Nothing in this Agreement shall affect any
obligation Chase Manhattan Bank USA, National Association may have in any
other capacity.

         SECTION 6.10 Limitation of Liability of Owner Trustee, Indenture
Trustee and Administrator.

          (a) Notwithstanding anything contained herein to the contrary, this
     instrument has been signed by Wilmington Trust Company not in its
     individual capacity but solely as Owner Trustee for the Chase Credit Card
     Owner Trust 2002-5 and in no event shall Wilmington Trust Company in its
     individual capacity or any beneficial owner of the Issuer have any
     liability for the representations, warranties, covenants, agreements or
     other obligations of the Issuer hereunder, as to all of which recourse
     shall be had solely to the assets of the Issuer.

          (b) Notwithstanding anything contained herein to the contrary, this
     Agreement has been signed by The Bank of New York, not in its individual
     capacity but solely as Indenture Trustee, and in no event shall The Bank
     of New York have any liability for the representations, warranties,
     covenants, agreements or other obligations of the Issuer hereunder or in
     any of the certificates, notices or agreements delivered pursuant hereto,
     as to all of which recourse shall be had solely to the assets of the
     Issuer.

          (c) No recourse under any obligation, covenant or agreement of the
     Issuer contained in this Agreement shall be had against any agent of the
     Issuer (including the Administrator) as such by the enforcement of any
     assessment or by any legal or equitable proceeding, by virtue of any
     statute or otherwise; it being expressly agreed and understood that this
     Agreement is solely an obligation of the Issuer as a Delaware common law
     trust, and that no personal liability whatever shall attach to or be
     incurred by any agent of the Issuer (including the Administrator), as
     such, under or by reason of any of the obligations, covenants or
     agreements of the Issuer contained in this Agreement, or implied
     therefrom, and that any and all personal liability for breaches by the
     Issuer of any

                                      18

<PAGE>

     such obligations, covenants or agreements, either at common law or at
     equity, or by statute or constitution, of every such agent is hereby
     expressly waived as a condition of and in consideration for the execution
     of this Agreement.

         SECTION 6.11 Third-Party Beneficiary. Each of the Owner Trustee
and the Indenture Trustee is a third-party beneficiary to this Agreement
and is entitled to the rights and benefits hereunder and may enforce the
provisions hereof as if it were a party hereto. The Administrator agrees to
compensate and indemnify the Indenture Trustee pursuant to Section 6.7 of
the Indenture.

         SECTION 6.12 Nonpetition Covenants.

          (a) Notwithstanding any prior termination of this Agreement, the
     Depositor shall not at any time with respect to the Issuer or the Master
     Trust, acquiesce, petition or otherwise invoke or cause the Issuer or the
     Master Trust to invoke the process of any court or government authority
     for the purpose of commencing or sustaining a case against the Issuer or
     the Master Trust under any Federal or state bankruptcy, insolvency or
     similar law or appointing a receiver, conservator, liquidator, assignee,
     trustee, custodian, sequestrator or other similar official of the Issuer
     or the Master Trust or any substantial part of its property, or ordering
     the winding up or liquidation of the affairs of the Issuer or the Master
     Trust; provided, however, that this subsection 6.12(a) shall not operate
     to preclude any remedy described in Article V of the Indenture.

          (b) Notwithstanding any prior termination of this Agreement, the
     Issuer shall not at any time with respect to the Master Trust, acquiesce,
     petition or otherwise invoke or cause the Master Trust to invoke the
     process of any court or government authority for the purpose of
     commencing or sustaining a case against the Master Trust under any
     Federal or state bankruptcy, insolvency or similar law or appointing a
     receiver, conservator, liquidator, assignee, trustee, custodian,
     sequestrator or other similar official of the Master Trust or any
     substantial part of its property, or ordering the winding up or
     liquidation of the affairs of the Master Trust; provided, however, that
     this subsection 6.12(b) shall not operate to preclude any remedy
     described in Article V of the Indenture.

         SECTION 6.13 Liability of Administrator. Notwithstanding any
provision of this Agreement, the Administrator shall not have any
obligations under this Agreement other than those specifically set forth
herein, and no implied obligations of the Administrator shall be read into
this Agreement. Neither the Administrator nor any of its directors,
officers, agents or employees shall be liable for any action taken or
omitted to be taken in good faith by it or them under or in connection with
this Agreement, except for its or their own gross negligence or willful
misconduct and in no event shall the Administrator be liable under or in
connection with this Agreement for indirect, special, or consequential
losses or damages of any kind, including lost profits, even if advised of
the possibility thereof and regardless of the form of action by which such
losses or damages may be claimed. Without limiting the foregoing, the
Administrator may (a) consult with legal counsel (including counsel for the
Issuer), independent public accountants and other experts selected by it
and shall not be liable for any action taken or omitted to be taken in good
faith by it in accordance with the advice of such counsel, accountants

                                      19

<PAGE>

or experts and (b) shall incur no liability under or in respect of this
Agreement by acting upon any notice (including notice by telephone), consent,
certificate or other instrument or writing (which may be by facsimile)
believed by it to be genuine and signed or sent by the proper party or
parties.
<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed and delivered as of the day and year first above written.

                                     WILMINGTON TRUST COMPANY
                                     not in its individual capacity but solely
                                     as Owner Trustee for:
                                     CHASE CREDIT CARD OWNER TRUST
                                     2002-5

                                     By:    /s/ Donald G. MacKelcan
                                           -----------------------------------
                                           Name: Donald G. MacKelcan
                                           Title:  Vice President

                                     CHASE MANHATTAN BANK USA,
                                           NATIONAL ASSOCIATION
                                     as Administrator

                                     By:   /s/ Patricia M. Marvey
                                           -----------------------------------
                                           Name: Patricia M. Garvey
                                           Title: Vice President

                                     Acknowledged and Agreed:
                                     THE BANK OF NEW YORK
                                     not in its individual capacity but solely
                                     as Indenture Trustee

                                     By:   /s/ Daniel Rothman
                                           -----------------------------------
                                           Name: Daniel Rothman
                                           Title: Assistant Treasurer
<PAGE>

                                                                     EXHIBIT A
                                                   [Form of Power of Attorney]

                             POWER OF ATTORNEY

STATE OF NEW YORK                    )
                                     )
COUNTY OF NEW YORK                   )

         KNOW ALL MEN BY THESE PRESENTS, that WILMINGTON TRUST COMPANY, a
Delaware banking corporation, not in its individual capacity but solely as
owner trustee ("Owner Trustee") for the Chase Credit Card Owner Trust
2002-5 ("Trust"), does hereby make, constitute and appoint CHASE MANHATTAN
BANK USA, NATIONAL ASSOCIATION as Administrator under the Administration
Agreement (as defined below), and its agents and attorneys, as
Attorneys-in-Fact to execute on behalf of the Owner Trustee or the Trust
all such documents, reports, filings, instruments, certificates and
opinions as it shall be the duty of the Owner Trustee or the Trust to
prepare, file or deliver pursuant to the Basic Documents (as defined in the
Indenture dated as of July 16, 2002 between the Trust and the Bank of New
York, as Indenture Trustee), including, without limitation, to appear for
and represent the Owner Trustee and the Trust in connection with the
preparation, filing and audit of federal, state and local tax returns
pertaining to the Trust, and with full power to perform any and all acts
associated with such returns and audits that the Owner Trustee could
perform, including without limitation, the right to distribute and receive
confidential information, defend and assert positions in response to
audits, initiate and defend litigation, and to execute waivers of
restriction on assessments of deficiencies, consents to the extension of
any statutory or regulatory time limit, and settlements. For the purpose of
this Power of Attorney, the term "Administration Agreement" means the
Deposit and Administration Agreement dated as of July 16, 2002 among
Wilmington Trust Company, not in its individual capacity but solely as
Owner Trustee for the Trust and Chase Manhattan Bank USA, National
Association, as Administrator, and acknowledged and agreed by The Bank of
New York, as Indenture Trustee, as such may be amended from time to time.

         All powers of attorney for this purpose heretofore filed or
executed by the Owner Trustee are hereby revoked.

          EXECUTED this 16th day of July, 2002.

                                                 WILMINGTON TRUST COMPANY
                                                 not in its individual
                                                 capacity but solely as
                                                 Owner Trustee for the
                                                 Chase Credit Card Owner
                                                 Trust 2002-5

                                                 By:
                                                     -------------------------
                                                     Name:
                                                     Title:

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