Document:

Exhibit 10.7

  

  Execution Version

    

  

  

  
    
      

      

      

      

      

      

      

      

      

      

      
        

    

     

    

    SERIES 2022-3 ACCOUNT CONTROL AGREEMENT

     

    among

     

    VERIZON MASTER TRUST,

      as Grantor

     

    U.S. BANK NATIONAL ASSOCIATION,

      as Secured Party

     

    and

     

    U.S. BANK NATIONAL ASSOCIATION,

      as Financial Institution

     

    

    

    Dated as of May 25, 2022

     

     

    

    
      
        

    

    

    

    

    

    

    

    

    

    

    

    
      
        

    

    TABLE OF CONTENTS

    

    

    Page

    

    	
            ARTICLE I

          	
            USAGE AND DEFINITIONS

          	
            1

          
	
            Section 1.1

          	
            Usage and Definitions

          	
            1

          
	
            ARTICLE II

          	
            ESTABLISHMENT OF COLLATERAL ACCOUNTS

          	
            1

          
	
            Section 2.1

          	
            Description of Accounts

          	
            1

          
	
            Section 2.2

          	
            Account Changes

          	
            2

          
	
            Section 2.3

          	
            Account Types

          	
            2

          
	
            Section 2.4

          	
            Securities Accounts

          	
            2

          
	
            Section 2.5

          	
            “Financial Assets” Election

          	
            3

          
	
            ARTICLE III

          	
            SECURED PARTY CONTROL

          	
            3

          
	
            Section 3.1

          	
            Control of Collateral Accounts

          	
            3

          
	
            Section 3.2

          	
            Investment Instructions

          	
            3

          
	
            Section 3.3

          	
            Conflicting Orders or Instructions

          	
            3

          
	
            ARTICLE IV

          	
            SUBORDINATION OF LIEN; WAIVER OF SET-OFF

          	
            4

          
	
            Section 4.1

          	
            Subordination of Lien; Waiver of Set-Off

          	
            4

          
	
            ARTICLE V

          	
            REPRESENTATIONS, WARRANTIES AND COVENANTS

          	
            4

          
	
            Section 5.1

          	
            Financial Institution’s Representations and Warranties

          	
            4

          
	
            Section 5.2

          	
            Financial Institution’s Covenants

          	
            5

          
	
            ARTICLE VI

          	
            OTHER AGREEMENTS

          	
            5

          
	
            Section 6.1

          	
            Reliance by Financial Institution

          	
            5

          
	
            Section 6.2

          	
            Termination

          	
            6

          
	
            Section 6.3

          	
            No Petition

          	
            6

          
	
            Section 6.4

          	
            Limitation of Liability

          	
            6

          
	
            Section 6.5

          	
            Conflict With Other Agreement

          	
            7

          
	
            Section 6.6

          	
            [Reserved]

          	
            7

          
	
            Section 6.7

          	
            Adverse Claims

          	
            7

          
	
            Section 6.8

          	
            Maintenance of Collateral Accounts

          	
            7

          
	
            ARTICLE VII

          	
            MISCELLANEOUS

          	
            8

          
	
            Section 7.1

          	
            Amendment

          	
            8

          
	
            Section 7.2

          	
            Benefit of Agreement

          	
            9

          
	
            Section 7.3

          	
            Notices

          	
            9

          

     

    

    
      
        
          

      

      
      TABLE OF CONTENTS

      (continued)

      Page

    

    	
            Section 7.4

          	
            GOVERNING LAW

          	
            9

          
	
            Section 7.5

          	
            Submission to Jurisdiction

          	
            10

          
	
            Section 7.6

          	
            WAIVER OF JURY TRIAL

          	
            10

          
	
            Section 7.7

          	
            No Waiver; Remedies

          	
            10

          
	
            Section 7.8

          	
            Severability

          	
            10

          
	
            Section 7.9

          	
            Headings

          	
            10

          
	
            Section 7.10

          	
            Counterparts

          	
            10

          
	
            Section 7.11

          	
            Electronic Signatures

          	
            10

          

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

     

    

    

    
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    This SERIES 2022-3 ACCOUNT CONTROL AGREEMENT, dated as of May 25, 2022 (this “Agreement”), is among VERIZON MASTER TRUST, a Delaware statutory trust, as grantor (the “Grantor”),

      U.S. BANK NATIONAL ASSOCIATION, a national banking association, as Indenture Trustee for the benefit of the Noteholders (in this capacity, the “Secured Party”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, in its
      capacity as both a “securities intermediary” as defined in Section 8-102 of the UCC and a “bank” as defined in Section 9-102 of the UCC (in these capacities, the “Financial Institution”).

     

    BACKGROUND

     

    The Grantor is engaging in a securitization transaction in which it will issue the Notes under the Indenture (as defined below), and the Secured Party will hold funds in bank accounts for
      the benefit of the Noteholders.

     

    The parties are entering into this Agreement to perfect the security interest in the bank accounts.

     

    The parties agree as follows:

     

    ARTICLE I

      USAGE AND DEFINITIONS

     

    Section 1.1   Usage and
          Definitions.  Capitalized terms used but not defined in this Agreement are defined in (or defined by reference in) the Indenture, dated as of May 25, 2022 (the “Indenture”), between Verizon Master Trust, as trust, and U.S. Bank
        National Association, as indenture trustee (the “Indenture Trustee”).  The Indenture also contains by reference, usage rules that apply to this Agreement.  References to the “UCC” mean the Uniform Commercial Code as in effect in the
        State of New York.

     

     For purposes of this Agreement, “Hague Securities Convention” means The
        Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary (Concluded 5 July 2006), which became effective in the United States of America on April 1, 2017.

     

    ARTICLE II

      ESTABLISHMENT OF COLLATERAL ACCOUNTS

     

    Section 2.1    Description of Accounts.  Pursuant to this Agreement and the Indenture, the Grantor, the Servicer and the Financial Institution have established the
        following accounts, subject to the lien of the Secured Party (each, a “Collateral Account”), each of which Collateral Accounts shall be a Trust Financing Account:

     

    	

          	(i)	
             “Series 2022-3 Distribution Account – U.S. Bank National Association, as Note Paying Agent, as secured party for the benefit of the Secured Parties of Verizon Master Trust, Series 2022-3” with
              account number 226278000.

          

     

    
      
        

    

    
    	

          	(ii)	
            “Series 2022-3 Reserve Account – U.S. Bank National Association, as Note Paying Agent, as secured party for the benefit of the Secured Parties of Verizon Master Trust, Series 2022-3” with account
              number 226278001.

          

     

    	

          	(iii)	
            “Series 2022-3 Principal Funding Account – U.S. Bank National Association, as Note Paying Agent, as secured party for the benefit of the Secured Parties of Verizon Master Trust, Series 2022-3” with
              account number 226278002.

          

     

    Section 2.2    Account Changes.  Neither the Financial Institution nor the Grantor will change the name or account number of a Collateral Account without the consent
        of the Secured Party.  The Financial Institution will promptly notify the Servicer of any changes to the name or account number of a Collateral Account.  This Agreement will apply to each successor account to a Collateral Account, which will also
        be a Collateral Account.

     

    Section 2.3    Account Types.  The Grantor, the Financial Institution and the Secured Party hereby confirm and agree that each Collateral Account is either a
        “securities account” (as defined in Section 8-501 of the UCC) or a “deposit account” (as defined in Section 9-102(a)(29) of the UCC).  The Grantor, the Financial Institution and the Secured Party acknowledge and agree that each Collateral Account
        is intended to be a “securities account.”  Notwithstanding such intention, (x) if a Collateral Account constitutes a “deposit account” under the UCC, the provisions of this Agreement governing a “deposit account” shall apply to such Collateral
        Account and (y) as used herein “deposit account” shall mean a Collateral Account to the extent that it is determined to be a “deposit account” (within the meaning of Section 9-102(a)(29) of the UCC) and “securities account” shall mean a Collateral
        Account to the extent that it is determined to be a “securities account” (within the meaning of Section 8-501 of the UCC).

     

    Section 2.4    Securities

          Accounts.  If a Collateral Account is a securities account, the Financial Institution agrees that:

     

    (a) Financial

          Assets.  All property delivered to the Financial Institution pursuant to the Indenture and the Master Collateral Agreement that is granted to the Indenture Trustee shall be promptly credited to the applicable Collateral Account in accordance
        with the terms of the Indenture and the Master Collateral Agreement;

     

    (b) Registration

          and Indorsement.  All securities or other property underlying any financial assets credited to any securities account (other than cash) shall be registered in the name of the Financial Institution, indorsed to the Financial Institution or in
        blank or credited to another securities account maintained in the name of the Financial Institution, and in no case will any financial asset credited to any securities account be registered in the name of the Grantor or any other person, payable to
        the order of the Grantor or any other person, or specially indorsed to the Grantor or any other person, except to the extent the foregoing have been specially indorsed to the Financial Institution or in blank; and

     

    (c) Exercise

          of Rights.  Each Collateral Account is an account to which financial assets or other property are or may be credited, and the Financial Institution shall, subject to the

     

    
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    terms of this Agreement, treat the Grantor as entitled to exercise the rights that comprise any financial asset or other property credited to such account.

     

    Section 2.5    “Financial Assets” Election.  The Financial Institution hereby agrees that each item of property (whether investment property, financial asset, security, instrument, general intangible or cash) credited to a Collateral Account to
        the extent that it constitutes a securities account shall be treated as a “financial asset” within the meaning of Section 8-102(a)(9) of the UCC.

     

    ARTICLE III

      SECURED PARTY CONTROL

     

    Section 3.1    Control
          of Collateral Accounts.

     

    (a) Notwithstanding

        any other provision of this Agreement, if at any time the Financial Institution shall receive any order from the Secured Party directing transfer or redemption of any financial asset relating to a Collateral Account or any instruction originated by
        the Secured Party directing the disposition of funds in a Collateral Account, the Financial Institution shall comply with such entitlement order or instruction without further consent by the Grantor or any other person.  If the Grantor is otherwise
        entitled to issue entitlement orders or instructions and such entitlement orders or instructions conflict with any entitlement order or instruction issued by the Secured Party, the Financial Institution shall follow the entitlement orders or
        instructions issued by the Secured Party and shall incur no liability therewith.

     

    (b) Until
        the Financial Institution receives a Notice of Sole Control pursuant to Section 6.8(a) from the Secured Party, the Financial Institution is authorized to act upon instructions, including entitlement orders, from either the Secured Party or the
        Grantor.  The Secured Party may exercise sole and exclusive control of the Collateral Accounts at any time by delivering to the Financial Institution a Notice of Sole Control as set forth in Section 6.8(a).

     

    Section 3.2    Investment

          Instructions.  If (a) the Financial Institution has not received an order or instruction from the Grantor directing the deposit, withdrawal, transfer or redemption of the cash or other financial assets credited to a Collateral Account (a “Secured

          Party Order”) for the investment of funds in a Collateral Account by 11:00 a.m. New York time (or another time agreed to by the Financial Institution) on the Business Day before a Payment Date or (b) the Financial Institution receives notice
        from the Secured Party that a Potential Default or Event of Default has occurred and is continuing, the Financial Institution will invest and reinvest funds in such Collateral Account according to the last investment instruction received, if any. 
        If no prior investment instructions have been received or if the instructed investments are no longer available or permitted, the Financial Institution will notify the Servicer and request new investment instructions, and the funds will remain
        uninvested until new investment instructions are received.  For the avoidance of doubt, the Financial Institution shall have no investment discretion.

     

    Section 3.3    Conflicting

          Orders or Instructions.  If the Financial Institution receives conflicting orders or instructions from the Secured Party and the Grantor or any other Person, the

     

    
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    Financial Institution will follow the orders or instructions of the Secured Party and not the Grantor or such other Person and shall incur no liability in connection therewith.

     

    ARTICLE IV

      SUBORDINATION OF LIEN; WAIVER OF SET-OFF

     

    Section 4.1    Subordination

          of Lien; Waiver of Set-Off.  In the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law or otherwise a security interest in a Collateral Account or any “security entitlement” or other property
        credited thereto, the Financial Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party.  The financial assets, money and other items credited to any Collateral Account will not be
        subject to deduction, set-off, banker’s lien, or any other right in favor of any Person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees
        and expenses for the routine maintenance and operation of the Collateral Accounts and (ii) the face amount of any checks which have been credited to any such Collateral Account but are subsequently returned unpaid because of uncollected or
        insufficient funds).

     

    ARTICLE V

      REPRESENTATIONS, WARRANTIES AND COVENANTS

     

    Section 5.1    Financial
          Institution’s Representations and Warranties.  The Financial Institution represents and warrants to the Grantor and the Secured Party as follows:

     

    (a) Organization. 

        The Financial Institution is duly organized, validly existing and qualified as a national banking association under the laws of the United States.

     

    (b) Power

          and Authority.  The Financial Institution has the corporate power and authority to execute, deliver and perform its obligations under this Agreement.  The Financial Institution has taken all action necessary to authorize the execution,
        delivery and performance by it of this Agreement.

     

    (c) Enforceability. 

        This Agreement has been duly executed by an authorized officer of the Financial Institution and constitutes the legal, valid and binding obligation of the Financial Institution, enforceable against it in accordance with its terms, except as such
        enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar Laws affecting creditors’ rights generally and, if applicable, the rights of creditors from time to time
        in effect or by general principles of equity.

     

    (d) No
          Agreements with Grantor.  There are no agreements between the Financial Institution and the Grantor or the Servicer governing or relating to a Collateral Account other than this Agreement, the Master Collateral Agreement, the Indenture and
        the other Transaction Documents and other Series Related Documents.

     

    (e) No
          Other Agreements.  The Financial Institution has not entered into, and until the termination of this Agreement will not enter into, an agreement relating to a Collateral Account in which it has agreed to comply with “entitlement orders” (as
        defined in Section 8-102(a)(8) of the UCC) or “instructions” (within the meaning of Section 9-104 of the UCC) of

     

    
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    any Person other than the Secured Party or purporting to limit or condition the obligation of the Financial Institution to comply with entitlement orders or instructions.

     

    (f) No
          Limitations.  The Financial Institution has not entered into an agreement limiting or conditioning the Financial Institution’s obligation to comply with any Secured Party Order.

     

    (g) No
          Liens.  Except for the claims and interest of the Secured Party and of the Grantor in the Collateral Accounts, the Financial Institution has no actual knowledge of any Lien on or claim to, or interest in, any of the Collateral Accounts or in
        any “financial asset” (as defined in Section 8-102(a) of the UCC) or other property credited thereto.

     

    (h) Maintenance

          of Collateral Accounts.  Each Collateral Account has been established as set forth in Article II, and such Collateral Accounts will be maintained in the manner set forth herein until termination of this Agreement.

     

    (i) Maintenance

          of Offices.  The Financial Institution has at the time of this Agreement, and had at the time of entry into the Indenture and the other Transaction Documents and other Series Related Documents executed on or prior to the date of this
        Agreement, one or more offices in the United States that maintains the securities accounts.

     

    Section 5.2    Financial
          Institution’s Covenants.

     

    (a) Statements,

          Confirmations and Other Correspondence.  The Financial Institution will promptly deliver copies of statements, confirmations and correspondence about the Collateral Accounts and the cash or other financial assets credited to a Collateral
        Account to the Grantor and the Secured Party.

     

    (b) Notice

          of Claim.  If a Person asserts a Lien against a Collateral Account (or in the cash or other financial assets credited to a Collateral Account), the Financial Institution will promptly notify the Secured Party.

     

    (c) Negative

          Covenants.  Until the termination of this Agreement, the Financial Institution will not enter into (i) an agreement relating to a Collateral Account in which it agrees to comply with entitlement orders or instructions of any Person other than
        the Secured Party or (ii) an agreement limiting or conditioning the Financial Institution’s obligation to comply with Secured Party Orders.

     

    ARTICLE VI

      OTHER AGREEMENTS

     

    Section 6.1    Reliance
          by Financial Institution.  The Financial Institution is not obligated to investigate or inquire whether the Secured Party may deliver a Secured Party Order.  The Financial Institution may rely on communications (including Secured Party
        Orders) believed by it in good faith to be genuine and given by the proper party.

     

    
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    Section 6.2    Termination.

     

    (a) The
        Financial Institution may terminate its rights and obligations under this Agreement if the Secured Party resigns or is removed as Indenture Trustee under the Indenture.  The Grantor may terminate the rights and obligations of the Financial
        Institution if the Financial Institution ceases to be a Qualified Institution.  No termination of the rights and obligations of the Financial Institution under this Agreement will be effective until new Collateral Accounts are established with, and
        the cash and other financial assets credited to the Collateral Accounts are transferred to, another securities intermediary who has agreed to accept the obligations of the Financial Institution under this Agreement or a similar agreement.

     

    (b) The
        Secured Party agrees to provide a Notice of Termination in substantially the form of Exhibit B hereto to the Financial Institution upon the request of the Grantor on or after the termination of the Secured Party’s security interest in the
        Collateral Accounts pursuant to the terms of the Indenture.  The termination of this Agreement does not terminate any Collateral Account or alter the obligations of the Financial Institution to the Grantor pursuant to any other agreement with
        respect to any Collateral Account.

     

    Section 6.3    No
          Petition.  Each party agrees that, before the date that is two (2) years and one (1) day (or, if longer, any applicable preference period) after payment in full of (a) all securities issued by the Depositor or by a trust for which the
        Depositor was a depositor or (b) all advances owed by Verizon Master Trust, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) the Depositor or (ii) the Grantor, respectively, any bankruptcy,
        reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar Law.  This Section 6.3 will survive the termination of this Agreement.

     

    Section 6.4    Limitation

          of Liability.

     

    (a) Financial

          Institution.  The Financial Institution will not be liable under this Agreement, except for (i) its own willful misconduct, bad faith or gross negligence or (ii) breach of its representations, warranties or covenants in this Agreement.  The
        Financial Institution will not be liable for special, indirect, punitive or consequential losses or damages (including lost profit), even if the Financial Institution has been advised of the likelihood of the loss or damage and regardless of the
        form of action.

     

    (b) Secured

          Party.  The Secured Party is executing this Agreement not in its individual capacity but solely in its capacity as Indenture Trustee.  In performing its obligations under this Agreement, the Secured Party is subject to, and entitled to the
        benefits of, the terms of the Indenture that apply to the Indenture Trustee.  The Indenture Trustee will not have any liability for any act or failure to act of the Servicer, the Custodian, the Marketing Agent, any other Creditor Representative or
        Noteholder, the Administrator, the Grantor or any other Person.

     

    (c) Owner

          Trustee.  This Agreement has been signed on behalf of the Grantor by Wilmington Trust, National Association, not in its individual capacity, but solely in its capacity as Owner Trustee of the Grantor.  In no event will Wilmington Trust,
        National Association in its individual capacity or a beneficial owner of the Grantor be liable for the Grantor’s obligations

     

    
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    under this Agreement.  For all purposes under this Agreement, the Owner Trustee is subject to, and entitled to the benefits of, the Trust Agreement.

     

    Section 6.5    Conflict
          With Other Agreement.

     

    (a) In
        the event of any conflict between this Agreement (or any portion thereof) and any other agreement now existing or hereafter entered into, the terms of this Agreement shall prevail.

     

    (b) No
        amendment or modification of this Agreement or waiver of any right hereunder shall be binding on any party hereto unless it is in writing and is signed by all of the parties hereto.

     

    (c) The
        Financial Institution hereby confirms and agrees that:

     

    (i) there are no agreements entered into between the Financial Institution and the Grantor with respect to the Collateral Accounts other than this Agreement and the Indenture; and

     

    (ii) other than the Indenture, it has not entered into, and until the termination of this Agreement will not enter into, any other agreement with any other person relating to any Collateral Account or any financial assets or other
        property credited thereto pursuant to which it has agreed to comply with entitlement orders (as defined in Section 8-102(a)(8) of the UCC) or instructions (within the meaning of Section 9-104 of the UCC) of such other person.

     

    Section 6.6    [Reserved].

     

    Section 6.7    Adverse
          Claims.  If the Financial Institution receives written notice that any person is asserting any lien, encumbrance or Adverse Claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against any
        Collateral Account or any financial asset or other property credited thereto, the Financial Institution will promptly notify the Secured Party and the Grantor thereof.

     

    Section 6.8    Maintenance of Collateral Accounts.  In addition to, and not in lieu of, the obligation of the Financial Institution to honor entitlement orders and instructions as set forth in Section 3.1 hereof, the Financial Institution, the
        Grantor and the Secured Party agree that the Collateral Accounts shall be maintained as follows:

     

    (a) Notice of Sole Control.  If at any time the Secured Party delivers to the Financial Institution a Notice of Sole Control in substantially the form set forth in Exhibit A hereto (a “Notice of Sole Control”), the Financial
        Institution agrees that after receipt of such notice, it will take all instructions with respect to the Collateral Accounts solely from the Secured Party and shall not comply with instructions or entitlement orders of any other person.

     

    (b) Voting Rights.  Until such time as the Financial Institution receives a Notice of Sole Control signed by the Secured Party pursuant to subsection (a) of this

     

    
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    Section 6.8, the Grantor shall direct the Financial Institution with respect to the voting of any financial assets credited to any Collateral Account.

     

    (c) Eligible Account.  Until such time as the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Grantor shall direct, to the extent permitted by the Indenture, the Financial Institution with
        respect to the selection of investments to be made for the credit of a Collateral Account if it is a securities account, and after the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Secured Party shall
        direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a Collateral Account if it is a securities account; provided,
        however, that the Financial Institution shall not honor any instruction from such Person to purchase any investments other than Permitted Investments.

     

    (d) Statements and Confirmations.  The Financial Institution shall promptly send copies of all statements, confirmations and other correspondence concerning any Collateral Account or any financial assets or other property credited
        thereto simultaneously to each of the Grantor and the Secured Party at the address for each set forth in Section 7.3 of this Agreement.

     

    ARTICLE VII

      MISCELLANEOUS

     

    Section 7.1    Amendment.

     

    (a) Amendments

          to Clarify and Correct Errors and Defects.  The parties may amend this Agreement, without the consent of the Noteholders for the purpose of curing any ambiguity, correcting an error or correcting or supplementing any provision of this
        Agreement that may be defective or inconsistent with the other terms of this Agreement.

     

    (b) Other

          Amendments.  Other than as set forth in Section 7.1(c), the parties may also amend this Agreement, without the consent of the Noteholders, for the purpose of adding any provisions to, or changing in any manner or eliminating any provisions
        of, this Agreement or of modifying in any manner the rights of the Noteholders under this Agreement if either (x) the Grantor or the Administrator delivers an Officer’s Certificate to the Indenture Trustee and the Owner Trustee stating that the
        Grantor or the Administrator, as applicable, reasonably believes that such amendment will not have a material adverse effect on the interests of any Noteholder or (y) the Rating Agency Condition has been satisfied for the Notes with respect to such
        amendment.

     

    (c) Amendments

          Requiring Consent of Noteholders.  This Agreement may also be amended from time to time by the parties hereto, with the consent of the Noteholders of the Notes evidencing at least a majority of the outstanding principal amount of the
        Controlling Class of Notes and with prior written notice to the Indenture Trustee and the Rating Agencies, 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 under this Agreement.

     

    
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    It shall not be necessary for the consent of the Noteholders pursuant to this Section 7.1 to approve the particular form of any proposed amendment or consent, but it shall be sufficient if
      such consent shall approve the substance thereof.  For the avoidance of doubt, any Noteholder consenting to any amendment shall be deemed to agree that such amendment does not have a material adverse effect on such Noteholder.

     

    (d) [Reserved].

     

    (e) Indenture

          Trustee Consent.  The consent of the Indenture Trustee will be required for any amendment to this Agreement pursuant to Sections 7.1(b) or (c) that has a material adverse effect on the rights, duties, obligations, immunities or indemnities of
        the Indenture Trustee.

     

    Section 7.2    Benefit
          of Agreement.  This Agreement is for the benefit of and will be binding on the parties and their permitted successors and assigns.  No other Person will have any right or obligation under this Agreement.

     

    Section 7.3    Notices.

     

    (a) Notices

          to Parties.  Notices, requests, directions, consents, waivers or other communications to or from the parties must be in writing and will be considered received by the recipient:

     

    (i)   for personally delivered, express or certified mail or courier, when received;

     

    (ii)  for a fax, when receipt is confirmed by telephone, reply email or reply fax from the recipient;

     

    (iii) for an email, when receipt is confirmed by telephone or reply email from the recipient; and

     

    (iv) for an electronic posting to a password-protected website to which the recipient has access, on delivery of an email (without the requirement of confirmation of receipt) stating that the electronic posting has been made.

     

    (b) Notice

          Addresses.  A notice, request, direction, consent, waiver or other communication must be addressed to the recipient at its address stated in Schedule A to the Transfer and Servicing Agreement, which address the party may change by notifying
        the other parties.

     

    Section 7.4    GOVERNING LAW.  BOTH THIS AGREEMENT AND THE COLLATERAL ACCOUNTS (AS WELL AS THE “SECURITIES ENTITLEMENTS” RELATING THERETO), INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND
          CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW

     

    
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    PROVISIONS THEREOF).  REGARDLESS OF ANY PROVISION IN ANY OTHER AGREEMENT, FOR PURPOSES OF THE UCC, NEW YORK SHALL BE DEEMED TO BE THE “BANK’S JURISDICTION” (WITHIN THE MEANING OF SECTION
      9-304 OF THE UCC) AND THE “SECURITIES INTERMEDIARY’S JURISDICTION” (WITHIN THE MEANING OF SECTION 8-110 OF THE UCC).  THE LAW OF THE STATE OF NEW YORK SHALL GOVERN ALL ISSUES SPECIFIED IN ARTICLE 2(1) OF THE HAGUE SECURITIES CONVENTION. 
      NOTWITHSTANDING SECTION 7.1 OF THIS AGREEMENT, THE PARTIES WILL NOT AGREE TO ANY AMENDMENT TO THIS AGREEMENT TO CHANGE THE GOVERNING LAW TO ANY LAW OTHER THAN THE LAWS OF THE STATE OF NEW YORK.

     

    Section 7.5    Submission

          to Jurisdiction.  Each party submits to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York State Court sitting in New York, New York for legal proceedings relating to
        this Agreement.  Each party irrevocably waives, to the fullest extent permitted by Law, any objection that it may now or in the future have to the venue of a proceeding brought in such a court and any claim that the proceeding was brought in an
        inconvenient forum.

     

    Section 7.6    WAIVER OF JURY TRIAL.  TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, OR IN CONNECTION WITH,
          THIS AGREEMENT OR ANY MATTER ARISING THEREUNDER WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.

     

    Section 7.7    No
          Waiver; Remedies.  No party’s failure or delay in exercising a power, right or remedy under this Agreement will operate as a waiver.  No single or partial exercise of a power, right or remedy will preclude any other or further exercise of the
        power, right or remedy or the exercise of any other power, right or remedy.  The powers, rights and remedies under this Agreement are in addition to any powers, rights and remedies under Law.

     

    Section 7.8    Severability. 

        If a part of this Agreement is held invalid, illegal or unenforceable, then it will be deemed severable from the remaining Agreement and will not affect the validity, legality or enforceability of the remaining Agreement.

     

    Section 7.9    Headings. 

        The headings in this Agreement are included for convenience and will not affect the meaning or interpretation of this Agreement.

     

    Section 7.10    Counterparts. 

        This Agreement may be executed in multiple counterparts.  Each counterpart will be an original and all counterparts will together be one document.

     

    Section 7.11    Electronic

          Signatures.  Each party agrees that this Agreement and any other documents to be delivered in connection herewith may be electronically signed, and that any electronic signatures appearing on this Agreement or such other documents are the
        same as handwritten signatures for the purposes of validity, enforceability, and admissibility.

     

    [Remainder of Page Left Blank]

    

    

    

    

    
      10

      
        

    

    IN
      WITNESS WHEREOF, the undersigned has caused this Agreement to be executed by its duly authorized officer as of the date and year first above written.

     

    

    

    

    

    	 	
            VERIZON MASTER TRUST,

          
	 	
            as Grantor

          
	 	 	 
	 	
            By:   

          	
            WILMINGTON TRUST, NATIONAL ASSOCIATION,

          
	 	 	
            not in its individual capacity but solely as Owner

          
	 	 	
            Trustee of Verizon Master Trust

          
	 	 	 
	 	 	 
	 	
            By:

          	
            /s/ Jennifer A. Luce                                               

          
	 	 	
            Name:  Jennifer A. Luce

            

          
	 	 	
            Title:    Vice President

            

          
	 	 	 
	 	 	 
	 	
            U.S. BANK NATIONAL ASSOCIATION, not in its

            individual capacity but solely as Secured Party

          
	 	 	 
	 	 	 
	 	
            By:

          	
            /s/ Matthew M. Smith                                       

          
	 	 	
            Name:  Matthew M. Smith

            

          
	 	 	
            Title:    Vice President

            

          
	 	 	 
	 	 	 
	 	
            U.S. BANK NATIONAL ASSOCIATION,

          
	 	 	
            as Financial Institution

          
	 	 	 
	 	 	 
	 	
            By:

          	
            /s/ Matthew M. Smith                                       

          
	 	 	
            Name:  Matthew M. Smith

          
	 	 	
            Title:    Vice President

            

          

    

    

    

    
      
        

    

    
    Exhibit A

     

    [Letterhead of U.S. Bank National Association]

     

    [Date]

     

    U.S. Bank National Association, as Financial Institution

    190 South LaSalle Street

    Chicago, Illinois 60603

    Attention: Global Structured Finance/Verizon Master Trust, Series 2022-3

     

    	

          	Re:	
            Notice of Sole Control

          

     

    Ladies and Gentlemen:

     

    As referenced in the Series 2022-3 Account Control Agreement dated as of May 25, 2022 (the “Agreement”), among Verizon Master Trust, a Delaware statutory trust, as grantor (the “Grantor”), U.S.
      Bank National Association, a national banking association, as Indenture Trustee for the benefit of the Noteholders (in this capacity, the “Secured Party”), and U.S. Bank National Association, a national banking association, in its capacity as
      both a “securities intermediary” as defined in Section 8-102 of the Uniform Commercial Code (“UCC”) and a “bank” as defined in Section 9-102 of the UCC (in such capacities, the “Financial Institution”), we hereby give you notice of our
      sole control over the Collateral Accounts (as defined in the Agreement) and all financial assets or other property credited thereto.  You are hereby instructed, in your capacity as Financial Institution, not to accept any direction, instruction or
      entitlement order with respect to any Collateral Account or the financial assets or other property credited thereto from any person other than the Secured Party, unless otherwise ordered by a court of competent jurisdiction.

     

    You are instructed to deliver a copy of this notice by electronic mail to the Grantor, c/o Cellco Partnership d/b/a Verizon Wireless, as administrator of the Verizon Master Trust at kee.chan.sin@verizon.com.

     

     

    	 	
            Very truly yours,

          
	 	 	 
	 	 	 
	 	
            U.S. BANK NATIONAL ASSOCIATION, not

          
	 	 	
            in its individual capacity, but solely as

          
	 	 	
            Secured Party

          
	 	 	 
	 	 	 
	 	
            By:  

          	
                                                                                    

          
	 	 	
            Name:

          
	 	 	
            Title:

          

     

    

    

    
      A-1

      
        

    

    
    Exhibit B

     

    [Letterhead of U.S. Bank National Association]

     

    [Date]

     

    U.S. Bank National Association, as Financial Institution

    190 South LaSalle Street

    Chicago, Illinois 60603

    Attention: Global Structured Finance/Verizon Master Trust, Series 2022-3

    

    

     

    	

          	Re:	
            Termination of Series 2022-3 Account Control Agreement

          

     

    You are hereby notified that the Series 2022-3 Account Control Agreement dated as of May 25, 2022 (the “Agreement”), among Verizon Master Trust, a Delaware statutory trust, as grantor (the “Grantor”),

      U.S. Bank National Association, a national banking association, as Indenture Trustee for the benefit of the Noteholders (in this capacity, the “Secured Party”), and U.S. Bank National Association, a national banking association, in its
      capacity as both a “securities intermediary” as defined in Section 8-102 of the Uniform Commercial Code (“UCC”) and a “bank” as defined in Section 9-102 of the UCC (in such capacities, the “Financial Institution”) is terminated and you
      have no further obligations to the undersigned pursuant to the Agreement.  Notwithstanding any previous instructions to you, you are hereby instructed, as Financial Institution, to accept all future directions with respect to the Collateral Accounts
      from the Grantor.  This notice terminates any obligations you may have to the undersigned with respect to the Agreement; however, nothing contained in this notice shall alter any obligations which you may otherwise owe to U.S. Bank National
      Association pursuant to any other agreement.

     

    You are instructed to deliver a copy of this notice by electronic mail to the Grantor, c/o Cellco Partnership d/b/a Verizon Wireless, as administrator of the Verizon Master Trust at kee.chan.sin@verizon.com.

     

    	 	
            Very truly yours,

          
	 	 	 
	 	 	 
	 	
            U.S. BANK NATIONAL ASSOCIATION, not

          
	 	 	
            in its individual capacity, but solely as

          
	 	 	
            Secured Party

          
	 	 	 
	 	 	 
	 	
            By:  

          	
                                                                                    

          
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    

    

  

  B-1Exhibit 10.12

      

    Execution Version

    

    

    

    

    

    

    

    
      EU/UK RISK RETENTION AGREEMENT

      

      

      May 25, 2022

       

      

      

      Re:   EU/UK Risk
            Retention Agreement / Series 2022-3

       

      Ladies and Gentlemen:

       

      1. Reference is hereby made to that certain Indenture, dated as of May 25, 2022 (the “Series 2022-3 Indenture”), between Verizon Master Trust, as trust (the “Trust”), and U.S. Bank National Association, as indenture
          trustee and note paying agent.  Capitalized terms used but not otherwise defined in this letter agreement (this “Agreement”) have the meanings set forth in (or by reference in) the Indenture.

       

      For the purposes of this Agreement, the term:

       

      (a) “EU Affected Investors” means “institutional investors” (as such term is defined for purposes of the EU Securitization Regulation) and any consolidated affiliate, wherever established or located, of an entity regulated
          under Regulation (EU) No 575/2013, as amended (the “CRR”), to the extent that Article 5 of the EU Securitization Regulation applies to investments by such consolidated affiliate by virtue of the CRR;

       

      (b) “EU Securitization Regulation” means Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017, as amended, and as supplemented by any applicable regulatory technical standards or
          implementing technical standards from time to time (including any technical standards applicable pursuant to transitional provisions);

       

      (c) “EU Securitization Regulation Rules” means (i) the EU Securitization Regulation, (ii) to the extent informing the interpretation of the EU Securitization Regulation, any official guidance published in relation thereto
          by the European Banking Authority, the European Central Bank, the European Securities and Markets Authority, the European Commission or the European Council (or in each case any predecessor or replacement organisation) or any other relevant
          competent authority (for the purposes of the EU Securitization Regulation) in the European Union and (iii) any implementing laws or regulations in force in any Member State of the European Union or the European Economic Area;

       

      (d) “EUWA” means the European Union (Withdrawal) Act 2018, as amended;

       

      (e) “Noteholder”
          means the Person in whose name a Note is registered on the Note Register;

       

      (f) “Notes”
          or “Note” means, collectively or individually, as the context may require, the Class A Notes, the Class B Notes and the Class C Notes of Series 2022-3;

       

      (g) “UK

            Affected Investors” means “institutional investors” (as such term is defined for purposes of the UK Securitization Regulation) and any consolidated affiliate, wherever established or located, of an entity regulated under Regulation (EU) No
          575/2013, as it

       

      
        
          

      

      
      forms part of UK domestic law by virtue of the EUWA (as amended, the “UK CRR”), to the extent that Article 5 of the UK Securitization Regulation applies to investments by such consolidated affiliate
        by virtue of the UK CRR;

       

      (h) “UK

            Securitization Regulation” means Regulation (EU) 2017/2402 (as applicable on December 31, 2020) as retained as part of the domestic law of the United Kingdom pursuant to the EUWA, and as amended by the Securitisation (Amendment) (EU Exit)
          Regulations 2019 (and as further amended from time to time); and

       

      (i) “UK

            Securitization Regulation Rules” means (i) the UK Securitization Regulation and (ii) to the extent informing the interpretation of the UK Securitization Regulation, (A) any relevant regulatory and/or implementing technical standards made or
          developed by the Financial Conduct Authority and the Prudential Regulation Authority in relation thereto, (B) any relevant regulatory and/or implementing technical standards that may be applicable in relation thereto pursuant to any transitional
          arrangements made pursuant to the UK Securitization Regulation, and, in each case, any official guidance published in relation thereto by the Financial Conduct Authority or the Prudential Regulation Authority (or their successors), and (C) any
          other implementing laws or regulations in force in the United Kingdom relating to the UK Securitization Regulation,

       

      2. This Agreement is being executed by each Originator for the benefit of the Trust and the Indenture Trustee (on behalf of each Noteholder that is an EU Affected Investor or a UK Affected Investor) and each such Person’s
          successors and assigns.

       

      3. Each Originator hereby confirms, represents and warrants as of the date of this Agreement and hereby covenants and agrees, that, until the date on which the Note Balance of each Class of Notes has been paid in full and with
          reference to both the EU Securitization Regulation Rules and the UK Securitization Regulation Rules, in each case as in effect and applicable on the Closing Date (and, save where indicated below, without taking into account any later amendment,
          supplement or replacement of or to the EU Securitization Regulation Rules or the UK Securitization Regulation Rules or any relevant national measures):

       

      (a) The Originators, as originators for purposes of the EU Securitization Regulation and the UK Securitization Regulation, shall retain, through their ownership of the beneficial interest in Verizon DPPA True-up Trust (the “True-up

            Trust”), on an ongoing basis a material net economic interest of not less than 5.0% in the securitization described in the prospectus relating to the Notes dated May 19, 2022, determined in accordance with Article 6 of the EU Securitization
          Regulation and Article 6 of the UK Securitization Regulation, each as in effect on the Closing Date, in the form of an originator’s interest of not less than 5.0% of the nominal value of the securitized exposures, as referred to in paragraph (b)
          of Article 6(3) of the EU Securitization Regulation and paragraph (b) of Article 6(3) of the UK Securitization Regulation, through the True-up Trust’s holding of Certificates, Class R interests and any retained Credit Extensions issued by the
          Trust, together giving the True-up Trust the right to receive distributions of (A) amounts not allocated to any Series and (B) amounts allocated to any Series and remaining after payments to Creditors (other than the True-up Trust) and other
          persons with respect to that Series, and in each case ranking pari passu with or subordinated to the credit risk that has been securitized with respect to those exposures (together, the “EU/UK Retained
            Interest”).

       

      
        2

        
          

      

      (b) The Originators shall hold the EU/UK Retained Interest on a pro rata basis, in proportion to the total nominal values of the Receivables originated by each of them and outstanding from
          time to time, by means of each Originator’s holding of a beneficial interest in the True-up Trust, which shall be adjusted from time to time, in proportion to the aggregate nominal values of Receivables originated by such Originator and
          outstanding from time to time and the performance of those Receivables.

       

      (c) The EU/UK Retained Interest shall be measured as of the Closing Date, the last day of each Collection Period and each Payment Date.  For this purpose, (i) the amount of the EU/UK Retained Interest from time to time shall equal
          the sum of (A) the excess of the aggregate Principal Balance of all Eligible Receivables for any Series over the sum of the Adjusted Series Invested Amounts of all Series then outstanding, plus (B) the sum of the Required OC Amounts with respect
          to all Series, plus (C) the excess of the aggregate nominal values of the Receivables over the aggregate Principal Balance of all Eligible Receivables for any Series, and (ii) the aggregate nominal values of the Receivables shall be calculated
          without deduction for or on account of any Receivable having become a Written-Off Receivable after the Acquisition Date on which it was acquired by the Trust.

       

      (d) Without prejudice to paragraph 3(b), the Originators shall not, and shall procure that the True-up Trust does not, change the retention option or methodology used to calculate the EU/UK Retained Interest while any of the Notes
          are outstanding, except to the extent permitted under the EU Securitization Regulation Rules and the UK Securitization Regulation Rules, in each case as in effect at the time of such change.

       

      (e) The Originators shall not, and shall procure that the True-up Trust does not, hedge or otherwise mitigate its credit risk under or associated with the EU/UK Retained Interest or sell, transfer or otherwise surrender all or
          part of the rights, benefits or obligations arising from the EU/UK Retained Interest, except to the extent permitted under the EU Securitization Regulation Rules and the UK Securitization Regulation Rules, in each case as in effect at the time of
          such hedging, mitigation, sale, transfer or surrender.

       

      (f) The Originators shall confirm (or shall procure that Cellco confirms on behalf of itself and each of the other Originators) to the Servicer on a monthly basis, and hereby authorize the Servicer to so confirm in each Monthly
          Investor Report with respect to Series 2022-3, that they continue to hold the EU/UK Retained Interest in accordance with this Agreement.

       

      (g) In addition, the Originators shall provide (or shall procure that Cellco provides on behalf of itself and each of the other Originators) a confirmation to the Indenture Trustee that they continue to hold the EU/UK Retained
          Interest in accordance with this Agreement (i) promptly following the occurrence of an Amortization Event or an Event of Default and (ii) upon request of the Indenture Trustee on behalf of any Noteholder that is an EU Affected Investor or a UK
          Affected Investor following a material change in (1) the structural features that can materially impact on the performance of the Notes or (2) the risk characteristics of the Notes or the Receivables.

       

      4. Each of the Originators further represents and warrants to each of the Depositor, the Trust and the Indenture Trustee (on behalf of each Noteholder that is an EU Affected Investor or a UK Affected Investor) as follows, as of
          the date of this Agreement:

       

      
        3

        
          

      

      (a) it is validly existing and in good standing under the laws of its jurisdiction of organisation and has full power and authority to own its properties and conduct its business as presently owned or conducted, and to execute,
          deliver and perform its obligations under this Agreement;

       

      (b) its execution, delivery, and performance of this Agreement have been duly authorized by all necessary action on its part; and

       

      (c) this Agreement constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
          moratorium, receivership, conservatorship or other similar laws affecting creditors’ rights generally and, if applicable, the rights of creditors from time to time in effect or by general principles of equity.

       

      5. No amendment, waiver, supplement or other modification of this Agreement shall in any event be effective unless the same shall be in writing and signed by (a) Cellco on behalf of itself and each of the other Originators, (b)
          the Depositor, (c) the Administrator on behalf of the Trust and (d) either (1) without the consent of the Indenture Trustee if the Trust or the Administrator delivers an Officer’s Certificate to the Indenture Trustee stating that the Trust or the
          Administrator, as applicable, reasonably believes that the amendment will not result in the Originators’ holding of the EU/UK Retained Interest ceasing to comply with the EU Securitization Regulation Rules and the UK Securitization Regulation
          Rules, in each case as in effect as of the date of such Officer’s Certificate or otherwise have a material adverse effect on the Noteholders that are either EU Affected Investors or UK Affected Investors or (2) notwithstanding any conflicting
          provision of the Indenture, if the interests of the Noteholders that are either EU Affected Investors or UK Affected Investors are materially and adversely affected by such amendment, with the consent of the Indenture Trustee, acting at the
          written direction of all Noteholders that are EU Affected Investors or UK Affected Investors.  This Agreement shall be binding upon each of the Originators and shall inure to the benefit of the Depositor, the Administrator on behalf of the Trust,
          the Indenture Trustee (on behalf of each Noteholder that is an EU Affected Investor or a UK Affected Investor) and each such Person’s successors and assigns.  None of the Originators shall assign any of its obligations under this Agreement (other
          than to an Affiliate that becomes a successor to all the assets and liabilities of such Originator) without the prior written consent of the Indenture Trustee; provided that such consent shall not be required if the Trust or the Administrator
          delivers an Officer’s Certificate to the Indenture Trustee stating that the Trust or the Administrator, as applicable, reasonably believes that such assignment will not have a material adverse effect on the Noteholders.

       

      6. Each Originator agrees that, before the date that is two (2) years and one (1) day (or, if longer, any applicable preference period) after the payment in full of (a) all securities issued or loans entered into by the Depositor
          or by a trust for which the Depositor was a depositor or (b) the Credit Extensions, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) the Depositor or (ii) the Trust, respectively, any bankruptcy,
          reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar Law.

       

      
        4

        
          

      

      7. THIS AGREEMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS
          LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).

       

      8. EACH PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT:

       

      (A) IT HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY NEW YORK STATE COURT SITTING IN NEW YORK, NEW YORK FOR PURPOSES OF ALL
          LEGAL PROCEEDINGS ARISING OUT OF, OR RELATING TO, THIS AGREEMENT. EACH PARTY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH PROCEEDING AND ANY
          CLAIM THAT ANY SUCH PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

       

      (B) TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT
          WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.

       

      9. Any Affiliate of the Originators or other person who from time to time becomes an Originator under the Originator Receivables Transfer Agreement may become a party to this Agreement upon the delivery to the Administrator, on
          behalf of the Trust, of an originator joinder agreement substantially in the form of Exhibit A hereto (an “Originator Joinder Agreement”).  Upon receipt by the Administrator, on behalf of the Trust, of such a duly executed and
          delivered Originator Joinder Agreement, such Originator shall become party to, and have the obligations of an Originator under, this Agreement.

       

      10. This Agreement shall become effective as of the date hereof.  This Agreement may be executed in multiple counterparts. Each counterpart will be an original and all counterparts will together be one document.  Delivery of an
          executed counterpart of a signature page to this Agreement by facsimile, email or other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement.

       

      11. Each

          party agrees that this Agreement may be electronically signed, and that any electronic signatures appearing on this Agreement are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility.

       

      12. This

          Agreement has been signed on behalf of the Trust by Wilmington Trust, National Association not in its individual capacity but solely in its capacity as Owner Trustee of the Trust.  In no event will Wilmington Trust, National Association in its
          individual capacity or as a beneficial owner of the Trust be liable for any agreements or other obligations of

       

      
        5

        
          

      

      the Trust under this Agreement.  For all purposes under this Agreement, the Owner Trustee is subject to, and entitled to the benefits of, the Trust Agreement.

       

      13. The
          Indenture Trustee is a third party beneficiary of this Agreement solely for the purpose of obtaining the benefit of the representations, warranties and covenants contained herein and under no circumstances shall it be deemed to have undertaken
          any obligations hereunder. For the avoidance of doubt, in no event shall the Indenture Trustee have any responsibility to monitor compliance with or be charged with knowledge of any of the EU Securitization Regulation Rules or the UK
          Securitization Regulation Rules, nor shall it be liable to any Noteholder or any party whatsoever for any violation of any of the EU Securitization Regulation Rules or the UK Securitization Regulation Rules or any similar provisions now or
          hereafter in effect or for any breach of any term of this Agreement.

       

      [Remainder of Page Left Blank]

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      
        6

        
          

      

      Please

        acknowledge your acceptance of this Agreement by signing and returning the duplicate copy of this Agreement.

       

        

      

      	 	
              

                Very truly yours,

              

              

                  

              VERIZON MASTER TRUST

                 

              By: Wilmington Trust, National Association, not in

              its individual capacity, but solely as Owner Trustee

              

                

              

              By:  /s/ Jennifer A. Luce                                                 

                Name:  Jennifer A. Luce

                Title:    Vice President

              

            

      

      

      

      

      	 	
              VERIZON ABS II LLC,

              as Depositor

                

                

                By:  /s/ Kee Chan Sin                                                  

                Name:  Kee Chan Sin

                Title:    Chief Financial Officer

              

            

      

      

      

      

      

      

      

      
        
          

      

      THE ORIGINATORS:

      

      

      	
              AirTouch Cellular Inc. d/b/a Verizon

              Wireless,

              as an Originator

            	
              Allentown SMSA Limited Partnership d/b/a

              Verizon Wireless,

              By: Bell Atlantic Mobile Systems LLC, its

              General Partner,

              as an Originator

            
	 	 
	
              ALLTEL Communications of North

              Carolina Limited Partnership d/b/a Verizon

              Wireless,

              By: Alltel Corporation, its General Partner,

              as an Originator

            	
              Alltel Corporation d/b/a Verizon Wireless,

              as an Originator

            
	 	 
	
              Anderson CellTelCo d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            	
              Athens Cellular, Inc. d/b/a Verizon

              Wireless,

              as an Originator

            
	 	 
	
              Bell Atlantic Mobile Systems LLC d/b/a

              Verizon Wireless,

              as an Originator

            	
              Cellco Partnership d/b/a Verizon Wireless,

              as an Originator

            
	 	 
	
              Chicago SMSA Limited Partnership d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            	
              CommNet Cellular Inc. d/b/a Verizon

              Wireless,

              as an Originator

            
	 	 
	
              Fresno MSA Limited Partnership d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            	
              Gadsden CellTelCo Partnership d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            
	 	 
	
              Gold Creek Cellular of Montana Limited

              Partnership d/b/a Verizon Wireless,

              By: CommNet Cellular Inc., its General

              Partner,

              as an Originator

            	
              GTE Mobilnet of California Limited

              Partnership d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            
	 	 
	
              GTE Mobilnet of Florence, Alabama

              Incorporated d/b/a Verizon Wireless,

              as an Originator

               

            	
              GTE Mobilnet of Fort Wayne Limited

              Partnership d/b/a Verizon Wireless,

              By: Verizon Americas LLC, its General Partner,

              as an Originator

            
	 	 

      

      

      
        
          

      

      	
              GTE Mobilnet of Indiana Limited

              Partnership d/b/a Verizon Wireless,

              By: Verizon Americas LLC, its General

              Partner,

              as an Originator

            	
              GTE Mobilnet of Indiana RSA #3 Limited

              Partnership d/b/a Verizon Wireless,

              By: Verizon Americas LLC, its General

              Partner,

              as an Originator

            
	 	 
	
              GTE Mobilnet of Indiana RSA #6 Limited

              Partnership d/b/a Verizon Wireless,

              By: Verizon Americas LLC, its General

              Partner,

              as an Originator

            	
              GTE Mobilnet of South Texas Limited

              Partnership d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            
	 	 
	
              GTE Mobilnet of Terre Haute Limited

              Partnership d/b/a Verizon Wireless,

              By: Verizon Americas LLC, its General

              Partner,

              as an Originator

            	
              GTE Mobilnet of Texas RSA #17 Limited

              Partnership d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

               

            
	 	 
	
              Idaho 6-Clark Limited Partnership d/b/a

              Verizon Wireless,

              By: Teton Cellular of Idaho Limited

              Partnership, its General Partner

              By: Teton Cellular Inc., its General Partner

              By: CommNet Cellular Inc., its Manager,

              as an Originator

            	
              Illinois RSA 6 and 7 Limited Partnership

              d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

               

            
	 	 
	
              Indiana RSA 2 Limited Partnership d/b/a

              Verizon Wireless,

              By: Cellco Partnership d/b/a Verizon

              Wireless, its General Partner,

              as an Originator

            	
              Iowa 8 – Monona Limited Partnership d/b/a

              Verizon Wireless,

              By: CommNet Cellular Inc., its General

              Partner,

              as an Originator

            
	 	 
	
              Kentucky RSA No. 1 Partnership,

              By: Cellco Partnership d/b/a Verizon

              Wireless, its General Partner,

              as an Originator

               

            	
              Los Angeles SMSA Limited Partnership, a

              California Limited Partnership d/b/a

              Verizon Wireless,

              By: AirTouch Cellular Inc., its General

              Partner,

              as an Originator

            
	 	 
	
              Missouri RSA 2 Limited Partnership d/b/a

              Verizon Wireless,

              By: Alltel Corporation, its Managing

              General Partner,

              as an Originator

            	
              Muskegon Cellular Partnership,

              By: Cellco Partnership d/b/a Verizon

              Wireless, its Managing Partner,

              as an Originator

               

            
	 	 

      

      

      
        
          

      

      	
              New Mexico RSA 6-I Partnership d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

               

            	
              New Mexico RSA No. 5 Limited

              Partnership,

              By: Cellco Partnership d/b/a Verizon

              Wireless, its General Partner,

              as an Originator

            
	 	 
	
              New York SMSA Limited Partnership d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            	
              Northeast Pennsylvania SMSA Limited

              Partnership d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            
	 	 
	
              Omaha Cellular Telephone Company d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its Managing

              General Partner,

              as an Originator

            	
              Pascagoula Cellular Partnership,

              By: Alltel Corporation d/b/a Verizon

              Wireless, its Managing Partner,

              as an Originator

               

            
	 	 
	
              Pennsylvania RSA 1 Limited Partnership

              d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            	
              Pennsylvania RSA No. 6 (I) Limited

              Partnership,

              By: Cellco Partnership, its General Partner,

              as an Originator

            
	 	 
	
              Petersburg Cellular Partnership d/b/a

              Verizon Wireless,

              By: Alltel Corporation, its Managing

              General Partner,

              as an Originator

            	
              Pinnacles Cellular, Inc. d/b/a Verizon

              Wireless,

              as an Originator

               

            
	 	 
	
              Pittsburgh SMSA Limited Partnership

              d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

               

            	
              Pittsfield Cellular Telephone Company

              d/b/a Verizon Wireless,

              By: Cellco Partnership, its Managing

              General Partner,

              as an Originator

            
	 	 
	
              RSA 7 Limited Partnership d/b/a Verizon

              Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            	
              Rural Cellular Corporation d/b/a Verizon

              Wireless,

              as an Originator

               

            
	 	 
	
              Sacramento-Valley Limited Partnership

              d/b/a Verizon Wireless,

              By: AirTouch Cellular Inc., its General

              Partner,

              as an Originator

            	
              Seattle SMSA Limited Partnership d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

               

            
	 	 

      

      

      
        
          

      

      	
              Texas RSA #11B Limited Partnership d/b/a 

              Verizon Wireless,

              By: Alltel Corporation, its General Partner,

               as an Originator

            	
              Topeka Cellular Telephone Company, Inc.,

              as an Originator

               

            
	 	 
	
              Tuscaloosa Cellular Partnership d/b/a 

              Verizon Wireless,

              By: Cellco Partnership, its Managing 

              General Partner,

               as an Originator

            	
              Verizon Americas LLC,

              as an Originator

               

            
	 	 
	
              Verizon Wireless of the East LP d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            	
              Virginia RSA 5 Limited Partnership d/b/a

              Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            
	 	 
	
              Wasatch Utah RSA No. 2 Limited

              Partnership d/b/a Verizon Wireless,

              By: Cellco Partnership, its General Partner,

              as an Originator

            	
              Wisconsin RSA #1 Limited Partnership,

              By: Alltel Corporation d/b/a Verizon

              Wireless, its Managing Partner,

              as an Originator

            
	 	 
	
              Wisconsin RSA #6 Partnership, LLP,

              By: Alltel Corporation d/b/a Verizon

              Wireless, its Managing Partner,

              as an Originator

            	
              Wisconsin RSA No. 8 Limited Partnership,

              By: Alltel Corporation d/b/a Verizon

              Wireless, its General Partner,

              as an Originator

            
	 	 

       

      

       

      

       

      

       

      

       

      

       

      

      
        
          

      

      By: /s/ Kee Chan Sin                                     
          

                Kee Chan Sin

      

      

      

      

      
        
          

      

      	
              As Vice President and Assistant Treasurer of

              AirTouch Cellular Inc. d/b/a Verizon Wireless

               

            	
              As Vice President and Assistant Treasurer of Bell

              Atlantic Mobile Systems LLC acting on behalf of

              Allentown SMSA Limited Partnership d/b/a

              Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Alltel Corporation acting on behalf of ALLTEL

              Communications of North Carolina Limited

              Partnership d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Alltel Corporation d/b/a Verizon Wireless

               

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Anderson

              CellTelCo d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Athens Cellular, Inc. d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

               Bell Atlantic Mobile Systems LLC d/b/a 

              Verizon

              Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Chicago

              SMSA Limited Partnership d/b/a Verizon

              Wireless

            	
              As Vice President and Assistant Treasurer of

              CommNet Cellular Inc. d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Fresno

              MSA Limited Partnership d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Gadsden

              CellTelCo Partnership d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              CommNet Cellular Inc. acting on behalf of Gold

              Creek Cellular of Montana Limited Partnership

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of GTE

              Mobilnet of California Limited Partnership d/b/a

              Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              GTE Mobilnet of Florence, Alabama Incorporated

              d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Verizon Americas LLC acting on behalf of GTE

              Mobilnet of Fort Wayne Limited Partnership

              d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Verizon Americas LLC acting on behalf of 

              GTE Mobilnet of Indiana Limited Partnership 

              d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Verizon Americas LLC acting on behalf of 

              GTE Mobilnet of Indiana RSA #3 Limited 

              Partnership d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Verizon Americas LLC acting on behalf of GTE

              Mobilnet of Indiana RSA #6 Limited Partnership

              d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of GTE

              Mobilnet of South Texas Limited Partnership

              d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

            	
              As Vice President and Assistant Treasurer of

            

      

      

      
        
          

      

      	
              Verizon Americas LLC acting on behalf of GTE

              Mobilnet of Terre Haute Limited Partnership d/b/a

              Verizon Wireless

            	
              Cellco Partnership acting on behalf of GTE

              Mobilnet of Texas RSA #17 Limited Partnership

              d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              CommNet Cellular Inc. acting on behalf of Teton

              Cellular Inc., acting on behalf of Teton Cellular

              Idaho Limited Partnership, acting on behalf of

              Idaho 6-Clark Limited Partnership d/b/a Verizon

              Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Illinois

              RSA 6 and 7 Limited Partnership d/b/a Verizon

              Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership d/b/a Verizon Wireless acting

              on behalf of Indiana RSA 2 Limited Partnership

               

            	
              As Vice President and Assistant Treasurer of

              CommNet Cellular Inc. acting on behalf of Iowa

              8 – Monona Limited Partnership d/b/a Verizon

              Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership d/b/a Verizon Wireless acting

              on behalf of Kentucky RSA No. 1 Partnership

            	
              As Vice President and Assistant Treasurer of

              AirTouch Cellular Inc. acting on behalf of Los

              Angeles SMSA Limited Partnership, a California

              Limited Partnership d/b/a Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Alltel Corporation acting on behalf of Missouri

              RSA 2 Limited Partnership d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership d/b/a Verizon Wireless acting

              on behalf of Muskegon Cellular Partnership

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of New

              Mexico RSA 6-I Partnership d/b/a Verizon

              Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership d/b/a Verizon Wireless acting

              on behalf of New Mexico RSA No. 5 Limited

              Partnership

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of New York

              SMSA Limited Partnership d/b/a Verizon

              Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Northeast

              Pennsylvania SMSA Limited Partnership d/b/a

              Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Omaha

              Cellular Telephone Company d/b/a Verizon

              Wireless

            	
              As Vice President and Assistant Treasurer of

              Alltel Corporation d/b/a Verizon Wireless acting

              on behalf of Pascagoula Cellular Partnership

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Alltel Corporation acting on behalf of Petersburg

              Cellular Partnership d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of

              Pennsylvania RSA 1 Limited Partnership d/b/a

              Verizon Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of

              Pennsylvania RSA No. 6 (I) Limited Partnership

            	
              As Vice President and Assistant Treasurer of

              Pinnacles Cellular, Inc. d/b/a Verizon Wireless

               

            
	 	 
	
              As Vice President and Assistant Treasurer of

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Pittsfield

              Cellular Partnership d/b/a Verizon Wireless

            

      

      

      
        
          

      

      	
              Cellco Partnership acting on behalf of Pittsburgh

              SMSA Limited Partnership d/b/a Verizon

              Wireless

            	 
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of RSA 7

              Limited Partnership d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Rural Cellular Corporation d/b/a Verizon Wireless

               

            
	 	 
	
              As Vice President and Assistant Treasurer of

              AirTouch Cellular Inc. acting on behalf of

              Sacramento-Valley Limited Partnership d/b/a

              Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Seattle

              SMSA Limited Partnership d/b/a Verizon

              Wireless

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Alltel Corporation acting on behalf of Texas RSA

              #11B Limited Partnership d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Topeka Cellular Telephone Company, Inc.

               

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Tuscaloosa

              Cellular Partnership d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Verizon Americas LLC

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Verizon

              Wireless of the East LP d/b/a Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Cellco Partnership d/b/a Verizon Wireless acting

              on behalf of Virginia RSA 5 Limited Partnership

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Cellco Partnership acting on behalf of Wasatch

              Utah RSA No. 2 Limited Partnership d/b/a

              Verizon Wireless

            	
              As Vice President and Assistant Treasurer of

              Alltel Corporation d/b/a Verizon Wireless acting

              on behalf of Wisconsin RSA #1 Limited

              Partnership

            
	 	 
	
              As Vice President and Assistant Treasurer of

              Alltel Corporation d/b/a Verizon Wireless acting

              on behalf of Wisconsin RSA #6 Partnership, LLP

            	
              As Vice President and Assistant Treasurer of

              Alltel Corporation d/b/a Verizon Wireless acting

              on behalf of Wisconsin RSA No. 8 Limited

              Partnership

            
	 	 

       

      

       

      

       

      

       

      

      

        

        

        

        

        

        

        

      

      
        
          

      

      
      EXHIBIT A

      

      

      FORM OF ORIGINATOR JOINDER AGREEMENT

       

      THIS ORIGINATOR JOINDER AGREEMENT, dated as of [_____________], 20[___] (this “Agreement”) is among:

       

      (i) [________________] (the “Additional Originator”);

       

      (ii) VERIZON ABS II LLC (the “Depositor”); and

       

      (iii) VERIZON MASTER TRUST, as trust (the “Trust”).

       

      BACKGROUND:

       

      A. The various Originators from time to time party thereto and Verizon ABS II LLC, as Depositor, are parties to that certain Originator Receivables Transfer Agreement, dated as of May 25, 2021, as amended (the “Originator
            Receivables Transfer Agreement”).

       

      B. The various Originators from time to time party thereto, the Depositor and the Trust are parties to that certain EU/UK Risk Retention Agreement, dated as of May 25, 2022 (the “EU/UK Risk Retention Agreement”).

       

      C. The Additional Originator desires to become a party to the EU/UK Risk Retention Agreement.

       

      NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
        parties hereto hereby agree as follows:

       

      1. Definitions. 

          Capitalized terms used in this Agreement and not otherwise defined herein shall have the meanings assigned thereto in, or by reference in, the EU/UK Risk Retention Agreement.

       

      2. Joinder. 

          The Additional Originator hereby agrees that it shall be bound by all of the terms, conditions and provisions of, and shall be deemed to be a party to (as if it were an original signatory to), the EU/UK Risk Retention Agreement, as an
          Originator.  From and after the later of the date hereof and the date that the Additional Originator has complied with all of the requirements of Section 6.11 of the Originator Receivables Transfer Agreement, the Additional Originator shall be a
          party to the EU/UK Risk Retention Agreement, as an Originator, for all purposes thereof.  The Additional Originator hereby acknowledges that it has received a copy of the EU/UK Risk Retention Agreement.

       

      3. GOVERNING

            LAW.  THIS AGREEMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL

       

      
        EA-1

        
          

      

      OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).

       

      4. WAIVER

            OF TRIAL BY JURY.  TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY MATTER
          ARISING THEREUNDER WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.

       

      5. Miscellaneous. 

          This Agreement shall be binding upon, and shall inure to the benefit of, each of the parties hereto and their respective successors and permitted assigns.  Each of the parties hereto hereby agrees that no party hereto shall be deemed to be the
          drafter of this Agreement.  This Agreement may be executed by different parties on any number of counterparts, each of which constitute an original and all of which, taken together, constitute one and the same agreement.

       

      6. Electronic

            Signatures.  Each party agrees that this Agreement may be electronically signed, and that any electronic signatures appearing on this Agreement are the same as handwritten signatures for the purposes of validity, enforceability, and
          admissibility.

       

      [Remainder of Page Left Blank]

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      

      

       

      
        EA-2

        
          

      

      IN WITNESS WHEREOF, the undersigned has caused this Agreement to be executed by its duly authorized officer as of the date and year first above written.

       

      	 	
              [NAME OF ADDITIONAL ORIGINATOR]

            
	 	 
	 	 
	 	
              By:                                                                               

            
	 	
              Name:

            
	 	
              Title:

            
	 	 
	 	 
	 	
              VERIZON MASTER TRUST

            
	 	 
	 	 
	 	
              By:                                                                               

            
	 	
              Name:

            
	 	
              Title:

            
	 	 
	 	 
	 	
              VERIZON ABS II LLC,

            
	 	
              as Depositor

            
	 	 
	 	 
	 	
              By:                                                                               

            
	 	
              Name:

            
	 	
              Title:

            

      

      

      

      

    

    

      

      

      

    

    

  

  EA-3

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