Document:

EXHIBIT 4.1

 

EXECUTION COPY

 

SECOND AMENDED AND RESTATED RECEIVABLES 

 CONTRIBUTION AND SALE AGREEMENT

between

BANK OF AMERICA, NATIONAL ASSOCIATION

and

BANC OF AMERICA CONSUMER CARD SERVICES, LLC

Dated as of October 1, 2014

 

  

TABLE OF CONTENTS

	
 

	
 

	
Page

	 		
	
ARTICLE I

	
DEFINITIONS

	
2

	 		
	
Section 1.01.

	
Definitions

	
2

	
Section 1.02.

	
Other Definitional Provisions

	
7

	 		
	
ARTICLE II

	
CONTRIBUTION, SALE, CONVEYANCE, AND SERVICING OF RECEIVABLES

	
8

	 		
	
Section 2.01.

	
Contribution and Sale

	
8

	
Section 2.02.

	
Additional Excluded Accounts

	
10

	
Section 2.03.

	
Servicing

	
11

	 		
	
ARTICLE III

	
CONSIDERATION, PAYMENT, AND SERVICING FEE

	
12

	 		
	
Section 3.01.

	
Purchase Price

	
12

	
Section 3.02.

	
Adjustments to Purchase Price

	
12

	
Section 3.03.

	
Use of Name, Logo and Marks

	
12

	 		
	
ARTICLE IV

	
REPRESENTATIONS AND WARRANTIES

	
14

	 		
	
Section 4.01.

	
Representations and Warranties of BANA Relating to BANA

	
14

	
Section 4.02.

	
Representations and Warranties of BANA Relating to the Agreement, the Receivables, and the Purchased Assets

	
15

	
Section 4.03.

	
Representations and Warranties of BACCS

	
16

	
Section 4.04.

	
Notice of Breach

	
17

	 		
	
ARTICLE V

	
COVENANTS

	
18

	 		
	
Section 5.01.

	
Covenants of BANA

	
18

	 		
	
ARTICLE VI

	
CONDITIONS PRECEDENT

	
21

	 		
	
Section 6.01.

	
Conditions to BACCS's Obligations

	
21

	
Section 6.02.

	
Conditions Precedent to BANA's Obligations

	
21

	 		
	
ARTICLE VII

	
TERM AND TERMINATION

	
22

	 		
	
Section 7.01.

	
Term

	
22

	
Section 7.02.

	
Termination Event

	
22

	 		
	
ARTICLE VIII

	
MISCELLANEOUS PROVISIONS

	
24

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Section 8.01.

	
Amendment

	
24

	 		
	
Section 8.02.

	
GOVERNING LAW

	
24

	 		
	
Section 8.03.

	
Notices

	
24

	
Section 8.04.

	
Severability of Provisions

	
25

	
Section 8.05.

	
Assignment

	
25

	
Section 8.06.

	
Further Assurances

	
25

	
Section 8.07.

	
No Waiver; Cumulative Remedies

	
25

	
Section 8.08.

	
Counterparts

	
25

	
Section 8.09.

	
Binding; Third Party Beneficiaries

	
25

	
Section 8.10.

	
Merger and Integration

	
25

	
Section 8.11.

	
Headings

	
26

	
Section 8.12.

	
Schedules and Exhibits

	
26

	
Section 8.13.

	
Survival of Remedies

	
26

	
Section 8.14.

	
Clarifying Items Relating to Original Receivables Contribution and Sale Agreement and Receivables Participation Agreement

	
26

	 		
	
SCHEDULE 1

	
ACCOUNT SCHEDULE

	
S-1

	
SCHEDULE 2

	
LIST OF ADDITIONAL EXCLUDED ACCOUNTS

	
S-2

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SECOND AMENDED AND RESTATED RECEIVABLES CONTRIBUTION AND SALE AGREEMENT, dated as of October 1, 2014, by and between BANK OF AMERICA, NATIONAL ASSOCIATION, a national banking association (together with its permitted successors and assigns, "BANA"), and BANC OF AMERICA CONSUMER CARD SERVICES, LLC, a North Carolina limited liability company (together with its permitted successors and assigns, "BACCS").

WITNESSETH:

WHEREAS, BACCS and  Bank of America National Association (USA) ("BANA (USA)") entered into a Receivables Participation Agreement, dated as of April 1, 2005 (the "Receivables Participation Agreement"), whereby BANA (USA) contributed to BACCS on that date certain participation interests in the receivables arising in certain credit card accounts of BANA (USA); and

WHEREAS, on October 20, 2006, BANA (USA) merged with and into FIA Card Services, National Association ("FIA"); and 

WHEREAS, FIA (successor by merger to BANA (USA)) and BACCS amended, restated and renamed the Receivables Participation Agreement by executing the Amended and Restated Receivables Contribution and Sale Agreement, dated as of October 20, 2006 (as amended by the First Amendment to Amended and Restated Receivables Contribution and Sale Agreement, dated as of November 14, 2006, the "Original Receivables Contribution and Sale Agreement"), whereby FIA contributed, and agreed to sell, and BACCS agreed to purchase, in the future, all of FIA's right, title and interest in, to and under the receivables arising in certain Accounts (as defined herein) owned by FIA and certain other related assets; and

WHEREAS, as of the date hereof (the "Merger Date"), FIA merged with and into BANA (such combination, the "Merger") with BANA being the surviving entity of such Merger; and

WHEREAS, BANA, as successor by merger to FIA, and BACCS desire to acknowledge that BANA, by operation of law, assumes the rights and obligations of FIA under the Original Receivables Contribution and Sale Agreement and that hereafter BANA will continue to sell to BACCS all of its right, title and interest, whether now owned or hereafter acquired, in, to and under the Purchased Assets (as such term is defined below); and

WHEREAS, under this Second Amended and Restated Receivables Contribution and Sale Agreement, each of BANA and BACCS does hereby confirm (a) that prior to the Merger Date, the Original Receivables Contribution and Sale Agreement governed the sales of receivables from FIA to BACCS, and (b) all sales, contributions and related actions taken by (i) BANA (USA) and BACCS in connection with the Receivables Participation Agreement and (ii) FIA and BACCS in connection with the Original Receivables Contribution and Sale Agreement; and

WHEREAS, to accomplish these mutual desires, BANA and BACCS desire to amend and restate the Original Receivables Contribution and Sale Agreement in its entirety by entering into this Second Amended and Restated Receivables Contribution and Sale Agreement.

NOW, THEREFORE, it is hereby agreed by and between BANA and BACCS as follows:

ARTICLE I

DEFINITIONS

Section 1.01.  Definitions.  All capitalized terms used herein, or in any certificate or document made or delivered pursuant hereto, and not defined herein or therein shall have the following meanings:

"Account" shall mean, on each date of determination, each account that is (a) a VISA®, MasterCard®, American Express® or similar domestic consumer revolving credit card account* and (b) owned by the applicable Account Owner, in each case on such date; provided that if, on any date of determination (i) any account is an Excluded Account or (ii) BANA has, in accordance with subsection 2.01(f), changed its entries on its books and records or computer files with respect to such account in connection with the sale of such account as permitted by subsection 5.01(l), such account shall not be an Account on and after such date for purposes of this Agreement.

"Account Owner" means (i) on and after the Merger Date, BANA, as the issuer of the credit card relating to an Account pursuant to a Credit Card Agreement and (ii) from and including October 20, 2006 up to but excluding the Merger Date, FIA and its successors and assigns, as the issuer of the credit card relating to an Account pursuant to a Credit Card Agreement.

"Account Schedule" means a complete schedule of all Accounts that is attached to this Agreement and marked as Schedule 1.  The Account Schedule may take the form of a computer file, a microfiche list, or another tangible medium that is commercially reasonable.  The Account Schedule must identify each Account by account number and by the balance of the Receivables existing in that Account on the Closing Date or on each specified date for each Account Schedule delivered after the Closing Date pursuant to subsection 2.01(g).

"Addition Cut Off Date" shall mean, with respect to any Additional Account, the close of business on the last day of the calendar month immediately preceding the Addition Date relating to such Additional Account.

* VISA, MasterCard, and American Express are registered trademarks of Visa International Service Association, MasterCard International Incorporated, and American Express Company, respectively.

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"Addition Date" shall mean, with respect to any Additional Account that was created, or ceased to be an Excluded Account, in each case, during any calendar month following the Closing Date, the date specified by the applicable Account Owner in a notice to BACCS with respect to Additional Accounts relating to such previous calendar month.

"Additional Account" shall mean, with respect to any Addition Date, any Account that was (i) created during the calendar month immediately preceding the Addition Date applicable to such Additional Account (and on the date of its creation was not an Excluded Account) or (ii) ceases to be an Excluded Account during the calendar month immediately preceding the Addition Date applicable to such Additional Account.

"Additional Excluded Account Schedule" shall mean the schedule of accounts, identified by account number, by pool index file, or by such other identifying feature as to which the parties may agree, attached to this Agreement and marked as Schedule 2, as such schedule may be expanded or reduced by the applicable Account Owner and BACCS from time to time, as provided in Section 2.02 hereof.

"Agreement" shall mean this Second Amended and Restated Receivables Contribution and Sale Agreement, as amended, restated, and supplemented from time to time.

"Annual Membership Fees" shall mean an annual membership fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"BACCS" shall have the meaning specified in the initial paragraph of this Agreement.

"BACCS/Funding RPA" shall mean the Amended and Restated Receivables Purchase Agreement, dated as of October 1, 2014, between BACCS and BA Credit Card Funding, LLC, as amended, restated, and supplemented from time to time.

"BANA (USA)" shall have the meaning specified in the recitals hereto. 

"Business Day" shall mean any day other than a Saturday, a Sunday, or a day on which banking institutions in New York, New York, Newark, Delaware, or Charlotte, North Carolina, are authorized or obligated by law or executive order to be closed.

"Cash Advance Fees" shall mean a cash advance fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"Closing Date" shall mean October 20, 2006.

"Collections" shall mean all payments on Receivables in the form of cash, checks, wire transfers, electronic transfers, ATM transfers, or any other form of payment.  This term includes Recoveries and Insurance Proceeds.

"Contribution" shall have the meaning specified in subsection 2.01(a). 

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"Contributed Assets" shall have the meaning specified in subsection 2.01(a). 

"Conveyed Assets" shall mean the Contributed Assets together with the Purchased Assets.

"Credit Card Agreement" shall mean, for any VISA®, MasterCard®, or American Express® credit card account, the agreement (including any related statement under the Truth in Lending Act) between the applicable Account Owner and the related Obligor governing that account.

"Credit Card Guidelines" shall mean the applicable Account Owner's policies and procedures (a) relating to the operation of its consumer credit card business, including the policies and procedures for determining the creditworthiness of credit card customers and for extending credit to credit card customers, and (b) relating to its maintenance of credit card accounts and its collection of credit card receivables.

"Cross Services Agreement" shall have the meaning specified in Section 2.03. 

"Debtor Relief Laws" shall mean (a) the United States Bankruptcy Code, (b) the Federal Deposit Insurance Act, and (c) all other insolvency, bankruptcy, conservatorship, receivership, liquidation, reorganization, or other debtor relief laws affecting the rights of creditors generally or the rights of creditors of banks.

"Draft Fees" shall mean a draft fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"Excluded Accounts" shall mean, as of any date of determination, any consumer credit card account that is identified on the Additional Excluded Account Schedule as provided in subsection 2.02(a), in each case, as of such date of determination.

"FIA" shall have the meaning specified in the recitals hereto. 

"Finance Charge Receivables" shall mean any Receivable that is a Periodic Finance Charge, a Cash Advance Fee, a Late Fee, an Overlimit Charge, a Returned Check Charge, a Research Charge, an Annual Membership Fee, a Draft Fee, a Service Transaction Fee, or a similar fee or charge, including a charge for credit insurance.

"Governmental Authority" shall mean the United States of America or any individual State, any political subdivision of the United States of America or any individual State, or any other entity exercising executive, legislative, judicial, regulatory, or administrative functions of or pertaining to government.

"Initial Account" shall mean each Account that was in existence on the Closing Date.

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"Insurance Proceeds" shall mean any amounts recovered pursuant to any credit insurance policies covering any Obligor with respect to any Receivable under such Obligor's Account.

"Interchange" shall mean all interchange fees or issuer rate fees payable to the applicable Account Owner, in its capacity as credit card issuer, through VISA USA, Inc.®, MasterCard International Incorporated®, American Express Company® or any other similar entity in connection with cardholder charges for goods or services with respect to the Receivables, the amount of which shall be calculated as provided in subsection 5.01(f).

"Late Fees" shall mean a late fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"Lien" shall mean any security interest, lien, mortgage, deed of trust, pledge, hypothecation, encumbrance, assignment, participation interest, equity interest deposit arrangement, preference, priority or other security or preferential arrangement of any kind or nature.  This term includes any conditional sale or other title retention arrangement and any financing lease having substantially the same economic effect as any security or preferential arrangement.  This term does not include any security interest or other lien created under the Pooling and Servicing Agreement, any predecessor agreement to the Pooling and Servicing Agreement, the Receivables Purchase Agreement (as such term is defined in the Pooling and Servicing Agreement) or any predecessor agreement to the Receivables Purchase Agreement.

"Membership Interest" shall mean the membership interest in BACCS in an amount agreed to by FIA and BACCS that was delivered to FIA pursuant to Section 3.01(a) in connection with the contribution by FIA to BACCS of the Contributed Assets pursuant to Section 2.01(a).

"Merger" shall have the meaning specified in the recitals hereto. 

"Merger Date" shall have the meaning specified in the recitals hereto. 

"Monthly Period" shall mean the period from and including the first day of a calendar month to and including the last day of such calendar month; provided, that the initial Monthly Period will commence on the Closing Date and end on and include the last day of the calendar month immediately succeeding the calendar month during which the Closing Date occurs.

"Obligor" shall mean, for any Visa®, MasterCard®, or American Express® credit card account, any Person obligated to make payments on receivables in that account.  This term includes any guarantor but excludes any merchant.

"Original Receivables Contribution and Sale Agreement" shall have the meaning specified in the recitals hereto. 

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"Overlimit Charges" shall mean an overlimit charge or other similar charge or fee that is charged to an Account under the related Credit Card Agreement.

"Payment Date" shall have the meaning specified in subsection 3.01(a). 

"Periodic Finance Charge" shall mean a finance charge determined by periodic rate or other similar charge that is charged to an Account under the related Credit Card Agreement.

"Person" shall mean any person or entity of any nature.  This term includes any individual, corporation, limited liability company, partnership, limited partnership, limited liability partnership, joint venture association, joint‐stock company, trust unincorporated organization, or Governmental Authority.

"Pool Index File" shall mean the file on BANA's computer system that identifies the Accounts.

"Pooling and Servicing Agreement" shall mean the Third Amended and Restated Pooling and Servicing Agreement, dated as of October 1, 2014, among BANA (successor by merger to FIA), as servicer, BA Credit Card Funding, LLC, as transferor and The Bank of New York Mellon, as trustee, as amended, restated, and supplemented from time to time.

"Principal Receivables" shall mean any Receivable other than a Finance Charge Receivable.  In calculating the aggregate amount of Principal Receivables in an Account on any date, the gross amount of Principal Receivables in the Account on that day must be reduced by the aggregate amount of credit balances in the Account on such date.

"Proceeding" shall mean any suit in equity, action at law, or other judicial or administrative proceeding.

"Purchase Price" shall mean the consideration for the Conveyed Assets specified in subsection 3.01(a).

"Purchase Price Adjustment" shall have the meaning specified in Section 3.02. 

"Purchased Assets" shall have the meaning specified in subsection 2.01(b).

"Receivables" shall mean any amount payable on an Account by the related Obligors.  This term includes Principal Receivables and Finance Charge Receivables.

"Receivables Participation Agreement" shall have the meaning specified in the recitals hereto.

"Recoveries" shall mean amounts recovered in respect of Receivables which have previously been charged off as uncollectible; provided, however, that if any amount so recovered relates to both Receivables which have previously been charged off as uncollectible and other 

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receivables, and if it cannot be determined with objective certainty whether such amount relates to Receivables which have previously been charged off as uncollectible or other receivables, the term Recoveries shall mean the amount reasonably estimated by the applicable Account Owner as having been recovered in respect of Receivables which had previously been charged off as uncollectible.

"Requirements of Law" shall mean (a) any certificate of incorporation, certificate of formation, articles of association, bylaws, limited liability company agreement, or other organizational or governing documents of that Person and (b) any law, treaty, statute, regulation, or rule, or any determination by a Governmental Authority or arbitrator, that is applicable to or binding on that Person or to which that Person is subject.  This term includes usury laws, the Truth in Lending Act, and Regulation Z and Regulation B of the Board of Governors of the Federal Reserve System.

"Research Charges" shall mean a research charge or similar charge or fee that is charged to an Account under the related Credit Card Agreement.

"Returned Check Charges" shall mean a returned check charge or similar charge or fee that is charged to an Account under the related Credit Card Agreement.

"Sale" shall have the meaning specified in subsection 2.01(b).

"Securitized Assets" shall mean the Conveyed Assets that also are or become Trust Assets (as defined in the Pooling and Servicing Agreement).

"Service Transaction Fees" shall mean a service transaction fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"Termination Event" shall have the meaning specified in subsection 7.02(a).

"UCC" shall mean the Uniform Commercial Code as in effect in the applicable jurisdiction.

Section 1.02.  Other Definitional Provisions.

The words "hereof," "herein," "hereunder," and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; and Section, Subsection, Schedule, and Exhibit references contained in this Agreement are references to Sections, Subsections, Schedules, and Exhibits in or to this Agreement unless otherwise specified.  The word "including" and words of similar import will be deemed to be followed by "without limitation."

[END OF ARTICLE I]

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ARTICLE II

CONTRIBUTION, SALE, CONVEYANCE, AND SERVICING OF RECEIVABLES

Section 2.01.  Contribution and Sale.

(a)  For good and valuable consideration of which BANA acknowledges that FIA has previously acknowledged receipt, and for the payment of the portion of the Purchase Price relating to the Contributed Assets as provided in the Original Receivables Contribution and Sale Agreement, FIA did contribute, transfer, assign, set over, and otherwise convey to BACCS (collectively, the "Contribution"), without recourse except as provided in the Original Receivables Contribution and Sale Agreement, all of FIA's right, title and interest, whether then owned or thereafter acquired, in, to and under (i) the Receivables existing as of Closing Date in the Initial Accounts, (ii) all Interchange, Insurance Proceeds, and Recoveries allocable to such Receivables, (iii) all monies due or to become due and all amounts received or receivable with respect thereto, (iv) all Collections with respect thereto, and (v) all proceeds (including "proceeds" as defined in the UCC) thereof (collectively, the "Contributed Assets").  BANA hereby acknowledges FIA's prior contribution of the Contributed Assets and does hereby contribute, transfer, assign, set over, and otherwise convey to BACCS without recourse except as provided herein, any right, title or interest, whether now owned or hereafter acquired, in, to and under any of the Contributed Assets that BANA may be deemed to have.

(b)  Each of BANA and BACCS does hereby acknowledge and confirm the prior sales of Purchased Assets by FIA to BACCS pursuant to the Original Receivables Contribution and Sale Agreement.  For good and valuable consideration of which BANA hereby acknowledges receipt, and for the payment of the portion of the Purchase Price from time to time hereafter relating to the Purchased Assets as provided herein, BANA does hereby sell, transfer, assign, set over, and otherwise convey to BACCS (collectively, the "Sale" and together with the Contribution, the "Conveyance"), without recourse except as provided herein, all of BANA's right, title, and interest, whether now owned or hereafter acquired, in, to, and under (i) the Receivables created from time to time on and after the date hereof in each Initial Account and the Receivables existing on the related Addition Cut Off Date and created from time to time after that Addition Cut Off Date in each Additional Account, (ii) all Interchange, Insurance Proceeds, and Recoveries allocable to such Receivables, (iii) all monies due or to become due and all amounts received or receivable with respect thereto, (iv) all Collections with respect thereto, and (v) all proceeds (including "proceeds" as defined in the UCC) thereof (collectively, the "Purchased Assets").

(c)  Principal Receivables in each Initial Account that existed on the Closing Date, and the related Finance Charge Receivables and other Contributed Assets, were contributed by FIA and received by BACCS on the Closing Date.  Principal Receivables in each Initial Account that arose after the Closing Date and prior to the Merger Date, and the related Finance Charge Receivables and other Purchased Assets, were sold by FIA and purchased by BACCS on the date on which those Principal Receivables arose.  Principal Receivables in each 

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Initial Account that arise after the Merger Date, and the related Finance Charge Receivables and other Purchased Assets, are sold by BANA and purchased by BACCS on the date on which those Principal Receivables arise.  Principal Receivables in each Additional Account that exist on the related Addition Cut Off Date and thereafter arising in such Additional Accounts on or prior to the related Addition Date in each case prior to the Merger Date, and the related Finance Charge Receivables and other Purchased Assets, were sold by FIA and purchased by BACCS on the related Addition Date.  Principal Receivables in each Additional Account that exist on the related Addition Cut Off Date and thereafter arising in such Additional Accounts on or prior to the related Addition Date in each case on or following the Merger Date, and the related Finance Charge Receivables and other Purchased Assets, are sold by BANA and purchased by BACCS on the related Addition Date.  Principal Receivables in each Additional Account that arose after the related Addition Date and in each case prior to the Merger Date, and the related Finance Charge Receivables and other Purchased Assets, were sold by FIA and purchased by BACCS on the date on which those Principal Receivables arose.  Principal Receivables in each Additional Account that arise after the related Addition Date and in each case on or following the Merger Date, and the related Finance Charge Receivables and other Purchased Assets, are sold by BANA and purchased by BACCS on the date on which those Principal Receivables arise.

(d)  BANA shall (i) record and file, at its own expense, any financing statements (and amendments with respect to such financing statements when applicable) with respect to the Conveyed Assets meeting the requirements of applicable law in such manner and in such jurisdictions as are necessary to perfect, and maintain perfection of, the Conveyance of such Conveyed Assets from BANA, as successor by merger to FIA, to BACCS, (ii) cause such financing statements and amendments to name BANA, as debtor, and BACCS, as secured party, of the Conveyed Assets, and (iii) deliver a file‐stamped copy of such financing statements or amendments or other evidence of such filings to BACCS as soon as is practicable after filing.

(e)  The parties hereto intend that the Conveyance of BANA's right, title and interest in and to the Conveyed Assets shall constitute an absolute contribution and sale, conveying good title free and clear of any liens, claims, encumbrances or rights of others, from BANA, as successor by merger to FIA, to BACCS.  It is the intention of the parties hereto that the arrangements with respect to the Conveyed Assets shall constitute a contribution, purchase and sale of such Conveyed Assets and not a loan, including under generally accepted accounting principles in effect before November 15, 2009.  In the event, however, that it were to be determined that the transactions evidenced hereby constitute a loan and not a contribution, purchase and sale, it is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law, and that BANA shall be deemed to have granted, and does hereby grant to BACCS a first priority perfected security interest in all of BANA's right, title, and interest, whether now owned or hereafter acquired, in, to, and under the Conveyed Assets to secure the obligations of BANA hereunder.

(f)  On or prior to the Merger Date, BANA shall mark its books, records, and computer files to make clear that the Receivables arising in the Initial Accounts and each Additional Account with an Addition Date prior to the Merger Date and the related Conveyed Assets have been contributed and sold to BACCS under this Agreement.  On or prior to each Addition Date following the Merger Date, BANA shall mark its books, records, and computer 

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files to make clear that the Receivables arising in the related Additional Accounts and the related Purchased Assets have been sold to BACCS under this Agreement and, in connection with such marking, shall also identify such Additional Accounts in the Pool Index File with either the designation "1994-MT" or the designation "NONSOLD."  BANA may change the designation identifying any Account in the Pool Index File from "NONSOLD" to "1994-MT" at any time without any further action.  However, except as provided in the immediately preceding sentence, BANA shall not change any of these markings or the identification of any Account in the Pool Index File unless and until (i) that Account has become an Excluded Account, (ii) that Account is sold as permitted by subsection 5.01(l), or (iii) BANA has taken all actions that are necessary or appropriate to maintain the perfection and the priority of BACCS's ownership interest in the related Conveyed Assets.  All acts required of BANA in this paragraph must be taken at BANA's own expense.

(g)  On the Closing Date, FIA delivered to BACCS the initial Account Schedule.  On or prior to the tenth Business Day in each Monthly Period, BANA will give BACCS written notice of the Addition Date applicable to the Additional Accounts with respect to the prior Monthly Period, if any, the Receivables of which are being sold to BACCS on such Addition Date.  Promptly after a request from BACCS, and at least once every two months regardless of whether a request is made by BACCS, BANA must deliver to BACCS an updated Account Schedule that identifies all Accounts (including Additional Accounts).  All acts required of BANA in this paragraph must be taken at BANA's own expense.

(h)  BANA is transferring each Securitized Asset to BACCS in connection with a securitization.

Section 2.02.  Additional Excluded Accounts.  (a) From time to time, the parties hereto may agree to exclude the Receivables in certain Accounts from the effect of this Agreement.  In accordance therewith, the parties hereto shall identify such accounts, by account number, by pool index file, or by such other identifying feature as to which the parties may agree, the newly created Receivables of which shall be excluded from the effect of this Agreement.  Such identification shall be on Schedule 2 hereto and, from the date of such modification of Schedule 2, such accounts shall be Excluded Accounts as defined herein.  To the extent that any Account is also an Account (as such term is defined in the BACCS/Funding RPA), the parties agree not to identify such Account as an Excluded Account until such time as such Account becomes a Removed Account (as such term is defined in the BACCS/Funding RPA).  On, or promptly following the date on which an Account becomes an Excluded Account pursuant to this subsection 2.02(a), BANA shall deliver to BACCS an updated Additional Excluded Account Schedule which shall be attached hereto as Schedule 2.

(b)  From time to time, the parties hereto may agree to include the Receivables in certain previously Excluded Accounts within the effect of this Agreement by removing the account number of such previously Excluded Accounts, the Receivables of which are to be included, from Schedule 2 hereto and BANA shall promptly deliver such modified Schedule 2 to BACCS.  From the Addition Date immediately following the date of such delivery of such modified Schedule 2 to BACCS, such previously Excluded Accounts shall be Accounts as defined herein.

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Section 2.03.  Servicing.

(a)  BANA shall be responsible for servicing the Accounts and Receivables.  Servicing of the Accounts and Receivables shall be in accordance with that certain Cross Services Agreement dated as of October 20, 2006 by and among certain affiliates of Bank of America Corporation (as amended, restated, and supplemented from time to time, the "Cross Services Agreement").

(b)  Upon BACCS's reasonable request, on the tenth Business Day following any Monthly Period, BANA shall deliver to BACCS, a report substantially in the form, and identifying the information, that the parties may from time to time mutually agree.

[END OF ARTICLE II]

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ARTICLE III

CONSIDERATION, PAYMENT, AND SERVICING FEE

Section 3.01.  Purchase Price.

(a)  The Purchase Price for the Contributed Assets was the issuance of the Membership Interest by BACCS to FIA on the Closing Date.  The Purchase Price for the Receivables arising in any Account (including the Receivables existing in any Additional Account on the applicable Addition Cut Off Date or arising in any Additional Account thereafter) and the related Purchased Assets sold to BACCS under this Agreement after the date hereof, (i) shall be payable in cash on a date (the "Payment Date") mutually agreed to by BANA and BACCS, but no later than the tenth Business Day following the Monthly Period in which such Receivables and related Purchased Assets are conveyed by BANA to BACCS and (ii) shall be an amount equal to 100% of the aggregate balance of the Receivables existing on such date and so conveyed, as such amount shall be adjusted on such Payment Date to reflect such factors as BANA and BACCS mutually agree will result in a Purchase Price determined to be the fair market value of such Principal Receivables and related Purchased Assets on such Payment Date.  The computation of each Purchase Price shall assume no purchase of additional Receivables or related Purchased Assets.  Each of the parties hereto acknowledges that BACCS may, but shall not be obligated to, draw on the credit available pursuant to a Revolving Credit Note, dated as of March 1, 2005 between BANA (successor by merger to FIA) and BACCS in order to fund the payment of the related Purchase Price on any Payment Date.

(b)  Notwithstanding any other provision of this Agreement, BANA shall not be obligated to continue to transfer or deliver Purchased Assets to BACCS to the extent that BANA is not paid the Purchase Price therefor as provided herein.

Section 3.02.  Adjustments to Purchase Price.  The Purchase Price shall be reduced on the Payment Date (a "Purchase Price Adjustment") with respect to any Receivable previously conveyed to BACCS by BANA if such Receivable is reduced by BANA because of a rebate, refund, unauthorized charge, or billing error to the Obligors.  The amount of such reduction shall equal the reduction in the balance of such Receivable resulting from the occurrence of such event, subject to any adjustment that had been made pursuant to subsection 3.01(a) with respect to the Purchase Price for such Receivable at the time of its conveyance.  In the event that a reduction pursuant to this Section 3.02 causes the Purchase Price to be a negative number, BANA shall pay to BACCS on such Payment Date an amount equal to the amount by which the Purchase Price Adjustment exceeds the unadjusted Purchase Price.

Section 3.03.  Use of Name, Logo and Marks.  To the extent of its interest, BANA hereby grants to BACCS a non‐exclusive license to use the name "BANA," "FIA," "Bank of America," and all related identifying trade or service marks, signs, symbols, logos, and designs but only for use in servicing the Receivables and only for use in a manner that is consistent with the guidelines provided by BANA to BACCS from time to time.  Further, to the 

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extent of its interest, BANA hereby grants to BACCS a non‐exclusive license to use all related servicing software but only for use in servicing the Receivables and only for use in a manner that is consistent with the guidelines provided by BANA to BACCS from time to time.  And further, to the extent of its interest, BANA hereby grants to BACCS a non‐exclusive license to use all related customer lists and other intangibles but only for use in servicing the Receivables and only for use in a manner that is consistent with the guidelines provided by BANA to BACCS from time to time.  These licenses are co‐extensive with the term of this Agreement.

[END OF ARTICLE III]

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ARTICLE IV

REPRESENTATIONS AND WARRANTIES

Section 4.01.  Representations and Warranties of BANA Relating to BANA.  BANA hereby represents and warrants to, and agrees with, BACCS on the Merger Date and on each Addition Date following the Merger Date that:

(a)  Organization and Existence.  BANA is a duly organized national banking association validly existing under the laws of the United States of America and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, deliver, and perform its obligations under this Agreement.  BANA is not organized under the laws of any other jurisdiction.

(b)  Due Qualification.  BANA is duly qualified to do business and is in good standing (or is exempt from such requirement) as a foreign corporation or foreign limited liability company and has obtained all necessary licenses and approvals, in each jurisdiction in which failure to so qualify or to obtain such licenses and approvals would have a material adverse effect on BANA or the transactions contemplated by, or its ability to perform its obligations under, this Agreement.

(c)  Due Authorization.  This Agreement has been duly authorized by BANA by all necessary action on the part of BANA.

(d)  No Conflict.  Neither the execution and delivery by BANA of this Agreement, nor the performance by BANA of its obligations under this Agreement, will conflict with, result in a material breach of or violation of any of the terms of, or constitute (with or without notice or lapse of time or both) a default under, any material Requirement of Law or the terms of any material indenture or other material agreement or instrument to which BANA is a party or by which it or its properties are bound (other than violations of such Requirements of Law, indentures, agreements, and other instruments which do not affect the legality, validity, or enforceability of any of such agreements, the Receivables, or the Conveyed Assets and which, individually or in the aggregate, would not have a material adverse effect on BANA or the transactions contemplated by, or its ability to perform its obligations under, this Agreement).

(e)  No Proceedings.  There are no Proceedings or investigations pending or, to the best knowledge of BANA, threatened, against BANA before any Governmental Authority (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement, (iii) seeking any determination or ruling that, in the reasonable judgment of BANA , would materially and adversely affect the performance by BANA of its obligations under this Agreement, or (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement, which in each case, if adversely determined, 

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would be reasonably likely to result in a material adverse effect on BANA or the transactions contemplated by, or its ability to perform its obligations under, this Agreement.

(f)  All Consents.  No consent, approval, authorization, or order of, or filing with, any Governmental Authority is required on the part of BANA in connection with the performance by BANA of the transactions contemplated by this Agreement, except such as have been obtained or made and are in full force and effect and those which the failure to obtain would not have a material adverse effect on this Agreement, or the transactions contemplated by, or BANA's ability to perform its obligations under, this Agreement.

(g)  Insolvency.  (A) BANA has not filed a petition or commenced a Proceeding (I) to take advantage of any Debtor Relief Law or (II) for the appointment of a trustee, conservator, receiver, liquidator, or similar official for or relating to BANA or all or substantially all of its property, (B) BANA has not consented or failed to object to any such petition filed or Proceeding commenced against or with respect to it or all or substantially all of its property, or any such petition or Proceeding has been dismissed or stayed within sixty (60) days of its filing or commencement, or a court, agency, or other supervisory authority with jurisdiction has not decreed or ordered relief with respect to any such petition or Proceeding, (C) BANA has not admitted in writing its inability to pay its debts generally as they become due, (D) BANA has not made an assignment for the benefit of its creditors, (E) BANA has not voluntarily suspended payment of its obligations, (F) BANA has not taken any action in furtherance of any of the foregoing, and (G) BANA has not transferred any Conveyed Asset in contemplation of any of the foregoing.

Section 4.02.  Representations and Warranties of BANA Relating to the Agreement, the Receivables, and the Purchased Assets.  BANA hereby represents and warrants to BACCS on the Merger Date and on each Addition Date following the Merger Date with respect to Additional Accounts (and the related Receivables and Purchased Assets), that:

(a)  this Agreement constitutes a legal, valid, and binding obligation of  BANA enforceable against BANA in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws or general principles of equity;

(b)  immediately prior to the conveyance of each Conveyed Asset to BACCS, BANA owns and has good and marketable title to such Conveyed Asset free and clear of any Lien except for any Lien for municipal or other local taxes if those taxes are currently not due or if BANA is currently in good faith contesting those taxes in appropriate proceedings and has set aside adequate reserves for those contested taxes;

(c)  with respect to each Conveyed Asset, all authorizations, consents, orders, or approvals of, or registrations or declarations with, any Governmental Authority required to be obtained, effected, or given by BANA in connection with the conveyance 

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of such Conveyed Asset to BACCS have been duly obtained, effected, or given and are in full force and effect;

(d)  this Agreement effects a valid contribution and sale to BACCS of the related Receivables, and that sale is perfected under the UCC;

(e)  BANA's contribution of any interest that it is deemed to have in any Contributed Asset complies in all material respects with all Requirements of Law applicable to BANA; and 

(f)  BANA's sale to BACCS of each related Receivable arising after the Merger Date, in the case of any Initial Account or Additional Account that became an Additional Account prior to the Merger Date, complies in all material respects with all Requirements of Law applicable to BANA; and

(g)  BANA's sale to BACCS of each related Receivable arising after the related Addition Cut Off Date, in the case of any Additional Account that becomes an Additional Account following the Merger Date, complies in all material respects with all Requirements of Law applicable to BANA.

Section 4.03.  Representations and Warranties of BACCS.  BACCS hereby represents and warrants to, and agrees with, BANA on the Closing Date and as of each Addition Date that:

(a)  Organization and Existence.  BACCS is a duly organized limited liability company validly existing under the laws of the State of North Carolina and has, in all material respects, full power and authority to own its assets and operate its business as presently owned or operated, and to execute, deliver, and perform its obligations under this Agreement.  BACCS is not organized under the laws of any other jurisdiction.

(b)  Due Authorization.  This Agreement has been duly authorized by BACCS by all necessary action on the part of BACCS.

(c)  No Conflict.  Neither the execution and delivery by BACCS of this Agreement, nor the performance by BACCS of its obligations under this Agreement, will conflict with, result in a material breach of or violation of any of the terms of, or constitute (with or without notice or lapse of time or both) a default under, any material Requirement of Law or the terms of any material indenture or other material agreement or instrument to which BACCS is a party or by which it or its properties are bound (other than violations of such Requirements of Law, indentures, agreements, and other instruments which do not affect the legality, validity, or enforceability of any of such agreements, the Receivables, or the Conveyed Assets and which, individually or in the aggregate, would not have a material adverse effect on BACCS or the transactions contemplated by, or its ability to perform its obligations under, this Agreement).

(d)  No Proceedings.  There are no Proceedings or investigations pending or, to the best knowledge of BACCS, threatened, against BACCS before any Governmental 

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Authority (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement, (iii) seeking any determination or ruling that, in the reasonable judgment of BACCS, would materially and adversely affect the performance by BACCS of its obligations under this Agreement, or (iv) seeking any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement, which in each case, if adversely determined, would be reasonably likely to result in a material adverse effect on BACCS or the transactions contemplated by, or its ability to perform its obligations under, this Agreement.

(e)  All Consents.  No consent, approval, authorization, or order of, or filing with, any Governmental Authority is required on the part of BACCS in connection with the performance by BACCS of the transactions contemplated by this Agreement, except such as have been obtained or made and are in full force and effect and those which the failure to obtain would not have a material adverse effect on this Agreement, or the transactions contemplated by, or BACCS's ability to perform its obligations under, this Agreement.

 Section 4.04.  Notice of Breach.  The representations and warranties set forth in Sections 4.01, 4.02, and 4.03 shall survive the transfer of the Conveyed Assets to BACCS.  Upon discovery by BANA or BACCS of a breach of any of the representations and warranties in any of Sections 4.01, 4.02, or 4.03, the party discovering such breach shall give notice to the other party within three (3) Business Days following such discovery.

[END OF ARTICLE IV]

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ARTICLE V

COVENANTS

Section 5.01.  Covenants of BANA.  BANA hereby covenants and agrees with BACCS as follows:

(a)  Limitation on Actions.  Except in enforcing or collecting an Account, BANA will take no action that results in any Receivable not being an account under Article 9 of the Delaware UCC, and therefore, BANA will take no action that results in any Receivable being an instrument or chattel paper under Article 9 of the Delaware UCC.

(b)  Security Interests.  Except for the conveyances effected hereby or permitted hereunder, BANA will not sell, pledge, assign, or transfer to any other Person, or take any other action inconsistent with BACCS's ownership of, the Conveyed Assets, or grant, create, incur, assume, or suffer to exist any Lien (arising through or under BANA) on any Conveyed Asset or any interest therein, and BANA shall not claim any ownership interest in any Conveyed Asset and shall defend the right, title, and interest of BACCS in, to, and under the Conveyed Assets against all claims of third parties claiming through or under BANA.

(c)  Account Allocations.  In the event that BANA is unable for any reason to transfer Conveyed Assets to BACCS in accordance with the provisions of this Agreement (including by reason of the application of the provisions of Section 7.02 or any order of any Governmental Authority), BANA agrees (except as prohibited by any such order or any Requirement of Law) to allocate and pay to BACCS, after the date of such inability, all Collections and other amounts in respect of the Conveyed Assets previously transferred to BACCS pursuant to either the Original Receivables Contribution and Sale Agreement or this Agreement.  To the extent that it is not clear to BANA whether collections relate to a Principal Receivable that was contributed or sold to BACCS or to a principal receivable that was not able to be contributed or sold to BACCS, BANA shall allocate payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account.  Notwithstanding any cessation of the transfer to BACCS of additional Principal Receivables, Principal Receivables contributed or sold to BACCS prior to the occurrence of the event giving rise to such inability, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect of such Principal Receivables, and Collections in respect of such Finance Charge Receivables, shall continue to be property of BACCS.

(d)  Collections.  If BANA receives Collections on any Receivable, BANA promptly will deliver those Collections to BACCS.

(e)  Notice of Liens.  BANA shall notify BACCS promptly after becoming aware of any Lien arising through or under FIA or BANA on any Conveyed Asset other 

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than those arising pursuant to the transactions contemplated by the Original Receivables Contribution and Sale Agreement or this Agreement.

(f)  Interchange.  Interchange allocable to the Receivables for each Monthly Period shall be remitted by BANA to BACCS no later than the fifteenth Business Day following such Monthly Period.  Such amount of Interchange shall be equal to the product of (i) the total amount of Interchange paid or payable to BANA with respect to its VISA®, MasterCard®, American Express®, or similar consumer revolving credit card accounts during such Monthly Period times (ii) a fraction the numerator of which is the aggregate amount of cardholder charges for goods and services in the Accounts with respect to such Monthly Period and the denominator of which is the aggregate amount of cardholder charges for goods and services in all VISA®, MasterCard® or American Express® consumer revolving credit card accounts owned by BANA with respect to such Monthly Period.

(g)  Documentation of Transfer.  BANA shall timely file in all appropriate filing offices the documents which are necessary or advisable to perfect and maintain the perfection of BACCS's interest in the Conveyed Assets.

(h)  Periodic Finance Charges.  Except (i) as otherwise required by any Requirements of Law or (ii) as is deemed by BANA to be necessary in order for it to maintain its consumer credit card business or a program operated by such consumer credit card business on a competitive basis based on a good faith assessment by it of the nature of the competition in the consumer credit card business or such program, BANA shall not at any time reduce the annual percentage rate of the Periodic Finance Charges assessed on the Receivables or other fees charged on any of the Accounts if, such reduction is not also applied to any comparable segment of accounts owned by BANA which have characteristics the same as, or substantially similar to, such Accounts that are subject to such change, except as otherwise restricted by an endorsement, sponsorship, or other agreement between BANA and an unrelated third party or by the terms of the Credit Card Agreements.

(i)  Credit Card Agreements and Credit Card Guidelines.  BANA shall comply with and perform its obligations under the Credit Card Agreements relating to the Accounts and the Credit Card Guidelines except insofar as any failure so to comply or perform would not materially and adversely affect the rights of BACCS, or any of their assigns.  Subject to compliance with each Requirement of Law, BANA may change the terms and provisions of the applicable Credit Card Agreements or the applicable Credit Card Guidelines with respect to any of the Accounts in any respect (including the calculation of the amount, or the timing, of charge‐offs and the Periodic Finance Charges and other fees to be assessed thereon) only if in the reasonable judgment of BANA such change is made applicable to any comparable segment of the revolving credit card accounts owned by BANA which have characteristics the same as, or substantially similar to, such Accounts that are subject to such change, except as otherwise restricted by an endorsement, sponsorship, or other agreement between BANA and an unrelated third party or by the terms of the Credit Card Agreements.

(j)  Annual Opinion.  On March 31 in each calendar year, beginning March 31, 2015, BANA will deliver to BACCS an opinion of counsel (i) stating that no further 

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filing of any financing statement, amendment of financing statement, or continuation statement is then necessary to perfect BACCS's ownership interest in the Receivables, and (ii) stating that no further filing of any financing statement, amendment of financing statement, or continuation statement will be necessary prior to March 31 of the next calendar year to maintain the perfection of BACCS's ownership interest in the Receivables or, if that is not the case, identifying each filing that will be necessary prior to March 31 of that calendar year.

(k)  Name and Type and Jurisdiction of Organization.  BANA shall not change its name or its type or jurisdiction of organization without previously having delivered to BACCS evidence, satisfactory to BACCS, to the effect that all actions have been taken, and all filings have been made, as are necessary to continue and maintain the first priority perfected ownership interest of BACCS in the Conveyed Assets.

(l)  Conveyance of Accounts.  BANA shall not convey, assign, exchange or otherwise transfer any of the Accounts to any Person prior to the termination of this Agreement without the prior consent of BACCS; provided, that BANA shall not convey, assign, exchange or otherwise transfer any Account that is also an Account (as such term is defined in the BACCS/Funding RPA), until such time as such Account becomes a Removed Account (as such term is defined in the BACCS/Funding RPA) or a Defaulted Account (as such term is defined in the BACCS/Funding RPA).

[END OF ARTICLE V]

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ARTICLE VI  

CONDITIONS PRECEDENT

Section 6.01.  Conditions to BACCS's Obligations.  The obligations of BACCS to enter into this Agreement on the date hereof shall be subject to the satisfaction of the following conditions on the date hereof:

(a)  All representations and warranties of BANA contained in this Agreement shall be true and correct in all material respects on the Merger Date with the same effect as though such representations and warranties had been made on such date (except that, to the extent any such representation or warranty expressly relates to an earlier date, such representation or warranty was true and correct in all material respects on such earlier date);

(b)  All information concerning the Accounts provided to BACCS shall be true and correct in all material respects as of the date hereof;

(c)  BANA shall have recorded and filed, at its own expense, any financing statement with respect to the Conveyed Assets meeting the requirements of applicable law in such manner and in such jurisdictions as are necessary to perfect BACCS's interest in the Conveyed Assets and shall have delivered a file‐stamped copy of such financing statement or other evidence of such filing to BACCS; and

(d)  All corporate and legal proceedings and all instruments in connection with the transactions contemplated by this Agreement shall be reasonably satisfactory in form and substance to BACCS, and BACCS shall have received from BANA copies of all documents (including records of corporate proceedings) relevant to the transactions herein contemplated as BACCS may reasonably have requested.

Section 6.02.  Conditions Precedent to BANA's Obligations.  The obligations of BANA to enter into this Agreement on the date hereof shall be subject to the satisfaction of the following conditions on the date hereof:

(a)  All representations and warranties of BACCS contained in this Agreement shall be true and correct in all material respects on the Merger Date with the same effect as though such representations and warranties had been made on such date (except that, to the extent any such representation or warranty expressly relates to an earlier date, such representation or warranty was true and correct in all material respects on such earlier date); and

(b)  All corporate and legal proceedings and all instruments in connection with the transactions contemplated by this Agreement shall be reasonably satisfactory in form and substance to BANA, and BANA shall have received from BACCS copies of all documents (including records of corporate proceedings) relevant to the transactions herein contemplated as BANA may reasonably have requested.

[END OF ARTICLE VI]

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ARTICLE VII

TERM AND TERMINATION

Section 7.01.  Term.

This Agreement will commence on the Merger Date and will continue at least until the earlier of (a) the termination of every securitization into which any Receivables are transferred and (b) the amendment of any applicable securitization document to remove any special purpose entity that received transfers of Receivables from BACCS (or a transferee of BACCS) as seller or transferor (or similar role) from any securitization into which any Receivables are transferred.  After that time, either party may terminate this Agreement by giving reasonable notice to the other party.

Section 7.02.  Termination Event.

(a)  Each of the following shall constitute a "Termination Event" under this Agreement:

(i)  (A) BANA files a petition or commences a Proceeding (I) to take advantage of any Debtor Relief Law or (II) for the appointment of a trustee, conservator, receiver, liquidator, or similar official for or relating to BANA or all or substantially all of its property, (B) BANA consents or fails to object to any such petition filed or Proceeding commenced against or with respect to it or all or substantially all of its property, or any such petition or Proceeding is not dismissed or stayed within ninety (90) days (or such longer period to which BACCS agrees) of its filing or commencement, or a court, agency, or other supervisory authority with jurisdiction decrees or orders relief with respect to any such petition or Proceeding, (C) BANA admits in writing its inability to pay its debts generally as they become due, (D) BANA makes an assignment for the benefit of its creditors, (E) BANA voluntarily suspends payment of its obligations, or (F) BANA takes any action in furtherance of any of the foregoing; or

(ii)  (A) BACCS files a petition or commences a Proceeding (I) to take advantage of any Debtor Relief Law or (II) for the appointment of a trustee, conservator, receiver, liquidator, or similar official for or relating to BACCS or all or substantially all of its property, (B) BACCS consents or fails to object to any such petition filed or Proceeding commenced against or with respect to it or all or substantially all of its property, or any such petition or Proceeding is not dismissed or stayed within ninety (90) days (or such longer period to which BANA agrees) of its filing or commencement, or a court, agency, or other supervisory authority with jurisdiction decrees or orders relief with respect to any such petition or Proceeding, (C) BACCS admits in writing its inability to pay its debts generally as they become due, (D) BACCS makes an assignment for the benefit of its creditors, (E) BACCS voluntarily suspends payment of its obligations, or (F) BACCS takes any action in furtherance of any of the foregoing.

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(b)  Upon the occurrence of a Termination Event described above in clause (a)(i), BACCS may, at its option, give notice to BANA that this Agreement is terminated as of the day such notice is delivered.  Upon the occurrence of a Termination Agreement described above in clause (a)(ii), BANA may, at its option, give notice to BACCS that this Agreement is terminated as of the day such notice is delivered.  Notwithstanding such termination, if any, Principal Receivables contributed or sold to BACCS prior to the occurrence of such Termination Event, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect of such Principal Receivables, and Collections in respect of such Finance Charge Receivables, shall continue to be property of BACCS.  To the extent that it is not clear to BANA whether collections relate to a Principal Receivable which was contributed or sold to BACCS or to a principal receivable which was not contributed or sold to BACCS, BANA shall allocate payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account.

[END OF ARTICLE VII]

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ARTICLE VIII

MISCELLANEOUS PROVISIONS

Section 8.01.  Amendment.  This Agreement may not be amended or otherwise changed orally but only by an instrument in writing signed by BACCS and BANA .

Section 8.02.  GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.  THE PARTIES HERETO DECLARE THAT IT IS THEIR INTENTION THAT THIS AGREEMENT SHALL BE REGARDED AS MADE UNDER THE LAWS OF THE STATE OF DELAWARE AND THAT THE LAWS OF SAID STATE SHALL BE APPLIED IN INTERPRETING ITS PROVISIONS IN ALL CASES WHERE LEGAL INTERPRETATION SHALL BE REQUIRED.  EACH OF THE PARTIES HERETO AGREES (A) THAT THIS AGREEMENT INVOLVES AT LEAST $100,000.00, AND (B) THAT THIS AGREEMENT HAS BEEN ENTERED INTO BY THE PARTIES HERETO IN EXPRESS RELIANCE UPON 6 DEL. C. § 2708.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES (A) TO BE SUBJECT TO THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE AND OF THE FEDERAL COURTS SITTING IN THE STATE OF DELAWARE, AND (B)(1) TO THE EXTENT SUCH PARTY IS NOT OTHERWISE SUBJECT TO SERVICE OF PROCESS IN THE STATE OF DELAWARE, TO APPOINT AND MAINTAIN AN AGENT IN THE STATE OF DELAWARE AS SUCH PARTY'S AGENT FOR ACCEPTANCE OF LEGAL PROCESS, AND (2) THAT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, SERVICE OF PROCESS MAY ALSO BE MADE ON SUCH PARTY BY PREPAID CERTIFIED MAIL WITH A PROOF OF MAILING RECEIPT VALIDATED BY THE UNITED STATES POSTAL SERVICE CONSTITUTING EVIDENCE OF VALID SERVICE, AND THAT SERVICE MADE PURSUANT TO (B)(1) OR (2) ABOVE SHALL, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HAVE THE SAME LEGAL FORCE AND EFFECT AS IF SERVED UPON SUCH PARTY PERSONALLY WITHIN THE STATE OF DELAWARE.

Section 8.03.  Notices.  All demands, notices, and communications hereunder shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by certified mail, return receipt requested and postage prepaid, or sent by facsimile or electronic transmission to (a) in the case of BANA, to Bank of America, National Association, 1020 North French Street, Mail Code: DE5-002-02-06, Wilmington, Delaware 19884, Attention: Scott McCarthy, with a copy to Bank of America, National Association, 214 North Tryon Street, Mail Code: NC1-027-20-05, Charlotte, North Carolina 28255, Attention: Greg Lumelsky, and (b) in the case of BACCS, to Banc of America Consumer Card Services, LLC, 401 North Tryon Street, Mail Code: NC1-007-07-17, Charlotte, North Carolina 28255, Attention: Scott McCarthy, with a copy to Banc of America Consumer Card Services, LLC, 214 North Tryon Street, Mail 

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Code: NC1-027-20-05, Charlotte, North Carolina 28255, Attention: Greg Lumelsky; or, as to each party, at such other address as shall be designated by such party in a notice to the other party in accordance with this Section 8.03.

Section 8.04.  Severability of Provisions.  If any one or more of the covenants, agreements, provisions, or terms of this Agreement shall for any reason whatsoever be held invalid, such covenants, agreements, provisions, or terms shall be deemed severable from the remaining covenants, agreements, provisions, and terms of this Agreement and shall in no way affect the validity or enforceability of such remaining covenants, agreements, provisions, and terms of this Agreement.

Section 8.05.  Assignment.  This Agreement may not be assigned by any party hereto, except with the prior written consent of the other party (which may be given or withheld in its sole and absolute discretion), and any such prohibited assignment shall be void.  Notwithstanding the above, any party hereto shall have the right to assign its interest in this Agreement to an affiliate directly or indirectly controlled by such party, provided that such assigning party provides written notice of such assignment to the other parties hereto, within ten (10) days of said assignment.

Section 8.06.  Further Assurances.  BACCS and BANA agree to do and perform, from time to time, any and all acts and to execute any and all further instruments required or reasonably requested by the other party more fully to effect the purposes of this Agreement, including the execution of any financing statements or amendments thereto or equivalent documents relating to the Conveyed Assets for filing under the provisions of the UCC or other law of any applicable jurisdiction.

Section 8.07.  No Waiver; Cumulative Remedies.  No failure to exercise and no delay in exercising, on the part of BACCS or BANA, any right, remedy, power, or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege.  The rights, remedies, powers, and privileges herein provided are cumulative and not exhaustive of any rights, remedies, powers, and privileges provided by law.

Section 8.08.  Counterparts.  This Agreement may be executed in two or more counterparts (and by different parties on separate counterparts), each of which shall be an original, but all of which together shall constitute one and the same instrument.

Section 8.09.  Binding; Third‐Party Beneficiaries.  This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns.

Section 8.10.  Merger and Integration.  This Agreement sets forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement.  This Agreement may not be modified, amended, waived, or supplemented except as provided herein.

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Section 8.11.  Headings.  The headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof.

Section 8.12.  Schedules and Exhibits.  The schedules and exhibits attached hereto and referred to herein shall constitute a part of this Agreement and are incorporated into this Agreement for all purposes.

Section 8.13.  Survival of Remedies.  All remedies set forth in this Agreement shall survive the termination of this Agreement.

Section 8.14.  Clarifying Items Relating to Original Receivables Contribution and Sale Agreement and Receivables Participation Agreement. 

(a)  To the extent this Agreement requires that certain actions are to be taken as of a date prior to the date of this Agreement, the taking of such action by the applicable party under the Original Receivables Contribution and Sale Agreement or the Receivables Participation Agreement, as applicable, shall constitute satisfaction of such requirement and BACCS confirms the actions taken by it prior to the date of this Agreement under the Receivables Participation Agreement and the Original Receivables Contribution and Sale Agreement and BANA confirms the actions taken (i) by FIA prior to the date of this Agreement under the Original Receivables Contribution and Sale Agreement and (ii) by BANA (USA) prior to the date of the Original Receivables Contribution and Sale Agreement under the Receivables Participation Agreement.

(b)  Each of BACCS and BANA hereby confirms (i) that prior to the Merger Date, the Original Receivables Contribution and Sale Agreement governed the contribution and sales of receivables from FIA to BACCS, (ii) all sales, contributions and related actions taken by (A) BANA (USA) and BACCS in connection with the Receivables Participation Agreement and (B) FIA and BACCS in connection with the Original Receivables Contribution and Sale Agreement, (iii) that any rights and obligations created or incurred pursuant to the Original Receivables Contribution and Sale Agreement carry forward to the applicable party under this Agreement, and (iv) that all representations, warranties, covenants and agreements in the Original Receivables Contribution and Sale Agreement applicable to any date prior to the Merger Date remain in full force and effect with respect to such dates.

(c)  All references to the Receivables Participation Agreement and the Original Receivables Contribution and Sale Agreement in any other instruments or documents shall be deemed to constitute a reference to this Agreement on and after the date hereof.

[END OF ARTICLE VIII]

-26-

IN WITNESS WHEREOF, BACCS and BANA have caused this Second Amended and Restated Receivables Contribution and Sale Agreement to be duly executed by their respective officers as of the date first above written.

	
 

	
BANK OF AMERICA, NATIONAL 

 ASSOCIATION

 

	
 

	
 

	
 

	
By:     /s/ Keith W. Landis                                         

	
 

	
Name: Keith W. Landis

	
 

	
Title:   Vice President

	
 

 

	
 

	
 

	
BANC OF AMERICA CONSUMER CARD 

 SERVICES, LLC

 

	
 

	
 

	
 

	
By:     /s/ Scott W. McCarthy                                    

	
 

	
Name: Scott W. McCarthy

	
 

	
Title:   Senior Vice President

[Signature Page to Second Amended and Restated Receivables Contribution and Sale Agreement]

SCHEDULE 1

ACCOUNT SCHEDULE

 

 

 

 

 

 

 

 

 

 

  

S-1

 

SCHEDULE 2 

LIST OF ADDITIONAL EXCLUDED ACCOUNTS

The accounts listed below are Excluded Accounts as defined in the Second Amended and Restated Contribution and Sale Agreement (the "Agreement"), dated as of October 1, 2014 and as amended, modified, or otherwise supplemented from time to time, by and between Bank of America, National Association ("BANA") and Banc of America Consumer Card Services, LLC ("BACCS"), and this Schedule 2 to the Agreement is the Additional Excluded Account Schedule as defined in the Agreement and is being delivered as of the date listed below pursuant to Section 2.02 of the Agreement.

	
 

	
Excluded Accounts

	
 

	
 

	
All VISA® accounts, MasterCard® accounts, and other similar domestic consumer revolving credit card accounts having 16‐digit account numbers, the account numbers of which include '9' as the 8th and 9th digits.

	
 

	
 

	
All American Express® accounts and other similar domestic consumer revolving credit card accounts having 15‐digit account numbers, the account numbers of which include '9' as the 7th and 8th digits.

	
 

IN WITNESS WHEREOF, BANA and BACCS have caused this Schedule 2 to be duly modified by their respective officers as of this 1st day of October, 2014.

	
 

	
BANK OF AMERICA, NATIONAL 

 ASSOCIATION

 

	
 

	
 

	
 

	
By:    /s/ Keith W. Landis                                              

	
 

	
Name: Keith W. Landis

	
 

	
Title:   Vice President

	
 

 

	
 

	
 

	
BANC OF AMERICA CONSUMER CARD

 SERVICES, LLC

 

	
 

	
 

	
 

	
By:      /s/ Scott W. McCarthy                                      

	
 

	
Name: Scott W. McCarthy

	
 

	
Title:   Senior Vice President

 

S-2EXHIBIT 4.2

 

EXECUTION COPY

 

 

BA MASTER CREDIT CARD TRUST II

AMENDED AND RESTATED

 RECEIVABLES PURCHASE AGREEMENT

between

BANC OF AMERICA CONSUMER CARD SERVICES, LLC

and

BA CREDIT CARD FUNDING, LLC

Dated as of October 1, 2014

 

TABLE OF CONTENTS

 

 

 

	
 

	
 

	
Page

	 		
	
ARTICLE I

	
DEFINITIONS

	
2

	 		
	
Section 1.01.

	
Definitions

	
2

	
Section 1.02.

	
Rules of Construction

	
8

	 		
	
ARTICLE II

	
PURCHASE AND SALE OF RECEIVABLES

	
9

	 		
	
Section 2.01.

	
Purchase and Sale

	
9

	
Section 2.03.

	
Removal and Deletion of Accounts

	
11

	 		
	
ARTICLE III

	
CONSIDERATION AND PAYMENT

	
13

	 		
	
Section 3.01.

	
Purchase Price

	
13

	
Section 3.02.

	
Adjustments to Purchase Price

	
14

	
Section 3.03.

	
Use of Name, Logo and Marks

	
14

	 		
	
ARTICLE IV

	
REPRESENTATIONS AND WARRANTIES

	
15

	 		
	
Section 4.01.

	
Representations and Warranties of BACCS Relating to BACCS

	
15

	
Section 4.02.

	
Representations and Warranties of BACCS Relating to the Agreement and the Receivables

	
16

	
Section 4.03.

	
Representations and Warranties of Funding

	
18

	 		
	
ARTICLE V

	
COVENANTS

	
20

	 		
	
Section 5.01.

	
Covenants of BACCS

	
20

	 		
	
ARTICLE VI

	
REPURCHASE OBLIGATION

	
22

	 		
	
Section 6.01.

	
Reassignment of Ineligible Receivables

	
22

	
Section 6.02.

	
Reassignment of Other Receivables

	
23

	 		
	
ARTICLE VII

	
CONDITIONS PRECEDENT

	
24

	 		
	
Section 7.01.

	
Conditions to Funding's Obligation on the Closing Date

	
24

	
Section 7.02.

	
Conditions to BACCS's Obligation on the Closing Date

	
24

	 		
	
ARTICLE VIII

	
TERM AND PURCHASE TERMINATION

	
25

	 		
	
Section 8.01.

	
Term

	
25

	
Section 8.02.

	
Purchase Termination

	
25

	 		
	
ARTICLE IX

	
MISCELLANEOUS PROVISIONS

	
26

	 		
	
Section 9.01.

	
Amendment

	
26

i

TABLE OF CONTENTS

 (continued)

	
 

	
 

	
Page

	 		
	
Section 9.02.

	
Governing Law

	
26

	
Section 9.03.

	
Notices

	
26

	
Section 9.04.

	
Severability

	
27

	
Section 9.05.

	
Assignment

	
27

	
Section 9.06.

	
Acknowledgement of BACCS

	
27

	
Section 9.07.

	
Further Assurances

	
27

	
Section 9.08.

	
No Waiver; Cumulative Remedies

	
27

	
Section 9.09.

	
Counterparts

	
28

	
Section 9.10.

	
Binding Effect; Third-Party Beneficiaries

	
28

	
Section 9.11.

	
Merger and Integration

	
28

	
Section 9.12.

	
Headings

	
28

	
Section 9.13.

	
Schedules and Exhibits

	
28

	
Section 9.14.

	
Survival of Representations and Warranties

	
28

	
Section 9.15.

	
Nonpetition Covenant

	
28

	
Section 9.16.

	
Clarifying Items Relating to Original Receivables Purchase Agreement

	
28

 

 

	
EXHIBIT A

	
 

	
A-1

	
SCHEDULE 1

	
 

	
S-1-1

ii

This Amended and Restated Receivables Purchase Agreement (this "Agreement") is made as of October 1, 2014, between Banc of America Consumer Card Services, LLC, a North Carolina limited liability company ("BACCS"), and BA Credit Card Funding, LLC, a Delaware limited liability company ("Funding").

BACKGROUND

Each capitalized term, except as defined below or in the First Tier Agreement, is defined in Article I of this Agreement.

Prior to the date hereof, FIA originated receivables in credit card accounts and sold receivables arising in a subset of those accounts and certain other related assets to BACCS under that certain Amended and Restated Receivables Contribution and Sale Agreement, dated as of October 20, 2006, as amended by the First Amendment to Amended and Restated Receivables Contribution and Sale Agreement, dated as of November 14, 2006, each  by and between FIA and BACCS (as amended, the "Original First Tier Agreement").

As of the date hereof (the "Merger Date"), FIA merged with and into Bank of America, National Association (such combination, the "Merger"), with  Bank of America, National Association (together with its successors and assigns, "BANA") being the surviving entity of such Merger.

As a result of the Merger, BANA (successor by merger to FIA) now originates receivables in credit card accounts as the successor by merger to FIA's credit card business.

As of the Merger Date, BANA (successor by merger to FIA) and BACCS, amended and restated the Original First Tier Agreement by executing the Second Amended and Restated Receivables Contribution and Sale Agreement, dated as of the Merger Date (as the same may be amended, supplemented or modified, the "First Tier Agreement") pursuant to which BANA (successor by merger to FIA) continues to sell to BACCS credit card receivables arising under the credit card accounts identified in the Original First Tier Agreement and that continue to be identified in the First Tier Agreement and certain other related assets.

Prior to the date hereof, BACCS and Funding were each party to that certain Receivables Purchase Agreement, dated as of October 20, 2006 (the "Original Receivables Purchase Agreement"), pursuant to which BACCS sold to Funding credit card receivables arising under the credit card accounts identified in the Original Receivables Purchase Agreement and certain other related assets.

To accomplish the mutual desires of the parties, BACCS and Funding now wish to execute this Agreement to amend and restate the Original Receivables Purchase Agreement in its entirety to memorialize the result of the Merger and clarify certain language in the Original Receivables Purchase Agreement. 

1

Under this Agreement, each of BACCS and Funding do hereby confirm (a) that prior to the Merger Date, the Original Receivables Purchase Agreement governed the sales of receivables from BACCS to Funding, and (b) all sales and related actions taken by it and obligations incurred by it in connection with the Original Receivables Purchase Agreement.

Funding intends to continue to securitize those receivables and certain other related assets by transferring them to the MTII Trustee under the Pooling and Servicing Agreement.

AGREEMENT

In consideration of the mutual promises in this Agreement and for other valuable consideration, the receipt and adequacy of which are acknowledged, the parties agree to the following:

ARTICLE I

DEFINITIONS

Section 1.01.  Definitions.  The following definitions apply in this Agreement:

"Account" means each Initial Account, each Additional Account, and each Transferred Account.  This term includes an Additional Account only from and after the related Addition Date.  This term does not include any Deleted Account.  This term does not include any Account from and after the date on which (i) all of its Receivables have been reassigned to BACCS under Section 6.01 or Section 6.02 or (ii) BACCS has, in accordance with subsection 2.01(d), changed its entries in its books and records or computer files with respect to such Account in connection with the sale of such Account as permitted by subsection 5.01(l) of the First Tier Agreement.

"Account Owner" means (i) on and after the Merger Date, BANA, as the issuer of the credit card relating to an Account pursuant to a Credit Card Agreement and (ii) from and including October 20, 2006 to but excluding the Merger Date, FIA and its successors and assigns, as the issuer of the credit card relating to an Account pursuant to a Credit Card Agreement.

"Account Schedule" means a complete schedule of all Accounts that is attached to this Agreement and marked as Schedule 1.  The Account Schedule may take the form of a computer file, a microfiche list, or another tangible medium that is commercially reasonable.  The Account Schedule must identify each Account by account number and by the balance of the Receivables existing in that Account on the Closing Date (for each Initial Account) or the related Addition Date (for each Additional Account).

"Addition Date" has the meaning, for an Additional Account, set forth in the related Supplemental Conveyance.

2

"Additional Account" means each VISA,® MasterCard,® or American Express® credit card account* that is designated as an Account under Section 2.02 and the related Supplemental Conveyance and that is identified on the Account Schedule from and after the related Addition Date.

"Affiliate" means, for any identified Person, any other Person that (a) is an affiliate or insider of that identified Person, (b) controls that identified Person, (c) is controlled by that identified Person, or (d) is under common control with that identified Person.

"Agreement" has the meaning set forth in the first paragraph of this document.

"Amended and Restated Pooling and Servicing Agreement" means the Amended and Restated Pooling and Servicing Agreement, dated as of June 10, 2006, between FIA and the MTII Trustee.

"Annual Membership Fee" means an annual membership fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"BACCS" has the meaning set forth in the first paragraph of this Agreement.

"BANA" has the meaning set forth above under the heading "Background".

"Business Day" means any day other than a Saturday, a Sunday, or a day on which banks in New York, New York, Charlotte, North Carolina, or Newark, Delaware, are authorized or obligated by law or executive order to be closed.

"Cash Advance Fee" means a cash advance fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"Closing Date" means the close of business on October 20, 2006.

"Collection Account" has the meaning set forth in the Pooling and Servicing Agreement.

"Collections" means all payments on Receivables in the form of cash, checks, wire transfers, electronic transfers, ATM transfers, or any other form of payment.  This term includes Recoveries and Insurance Proceeds.

"Credit Card Agreement" means, for any VISA,® MasterCard,® or American Express® credit card account, the agreement (including any related statement under the Truth in Lending Act) between the applicable Account Owner and the related Obligor governing that account.

 

	
 

	
 

 *   VISA, MasterCard, and American Express are registered trademarks of Visa International Service Association, MasterCard International Incorporated, and American Express Company, respectively.

 

3

"Credit Card Guidelines" means the applicable Account Owner's policies and procedures (a) relating to the operation of its credit card business, including its policies and procedures for determining the creditworthiness of credit card customers and for extending credit to credit card customers, and (b) relating to its maintenance of credit card accounts and its collection of credit card receivables.

"Debtor Relief Laws" means (a) the United States Bankruptcy Code, (b) the Federal Deposit Insurance Act, and (c) all other insolvency, bankruptcy, conservatorship, receivership, liquidation, reorganization, or other debtor relief laws affecting the rights of creditors generally.

"Defaulted Account" means any Account containing only Receivables that have been charged off as uncollectible under the Credit Card Guidelines and the Servicer's customary and usual procedures for servicing credit card accounts.  An Account becomes a Defaulted Account on the date on which all of its Receivables are recorded as charged-off on the Servicer's master computer file of credit card accounts.

"Deleted Account" means any Removed Account containing no Receivables that are owned by Funding.  A Removed Account becomes a Deleted Account on the date on which all of its Receivables that are owned by Funding have been paid.

"Draft Fee" means a draft fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"Eligible Account" means any VISA,® MasterCard,® or American Express® credit card account for which each of the following requirements is satisfied as of the date of its designation under the Amended and Restated Pooling and Servicing Agreement, in the case of any Initial Account, or as of the related Addition Date, in the case of any Additional Account:

(a)  it exists and is maintained by the applicable Account Owner;

(b)  its Receivables are payable in United States dollars;

(c)  the related Obligor's most recent billing address is located in the United States or its territories or possessions;

(d)  it is not classified on the applicable Account Owner's electronic records as counterfeit, cancelled, fraudulent, stolen, or lost; and

(e)  all of its Receivables have not been charged off as uncollectible under the applicable Account Owner's customary and usual procedures for servicing credit card accounts.

4

"Eligible Receivable" means any Receivable for which each of the following requirements is satisfied as of the applicable time:

(a)  it arises in an Eligible Account;

(b)  it is created, in all material respects, in compliance with all Requirements of Law applicable to the applicable Account Owner, and it is created under a Credit Card Agreement that complies, in all material respects, with all Requirements of Law applicable to the applicable Account Owner;

(c)  all consents, licenses, approvals, or authorizations of, or registrations or declarations with, any Governmental Authority that are required for its creation or the execution, delivery, or performance of the related Credit Card Agreement have been obtained or made by the applicable Account Owner and are fully effective;

(d)  immediately prior to it being sold to Funding, BACCS has good and marketable title to it free and clear of all Liens arising through or under BACCS or any of its Affiliates other than Funding, except for any Lien for municipal or other local taxes if those taxes are currently not due or if the applicable Account Owner or BACCS is currently in good faith contesting those taxes in appropriate proceedings and has set aside adequate reserves for those contested taxes;

(e)  it is the legal, valid, and binding payment obligation of the related Obligor and is enforceable against that Obligor in accordance with its terms, except as enforceability may be limited by Debtor Relief Laws or general principles of equity; and

(f)  it is an account under Article 9 of the Delaware UCC.

"FIA" means FIA Card Services, National Association, a national banking association.

"Finance Charge Receivable" means any Receivable that is a Periodic Finance Charge, a Cash Advance Fee, a Late Fee, an Annual Membership Fee, a Draft Fee, a Service Transaction Fee, or a similar fee or charge, including a charge for credit insurance.

"First Tier Agreement" has the meaning set forth above under the heading "Background".

"Funding" has the meaning set forth in the first paragraph of this Agreement.

"Governmental Authority" means the United States of America or any individual State, any political subdivision of the United States of America or any individual State, or any other entity exercising executive, legislative, judicial, regulatory, or administrative functions of or pertaining to government.

5

"Initial Account" means each VISA,® MasterCard,® or American Express® credit card account that was designated as an Account under the Amended and Restated Pooling and Servicing Agreement and that is identified on the Account Schedule from and after the Closing Date.

"Insolvency Event" has the meaning set forth in Section 8.02.

"Insurance Proceeds" means, for any Receivable, all amounts recovered on that Receivable under a credit insurance policy covering the related Obligor.

"Interchange" means all interchange fees and issuer rate fees that (a) are payable to the applicable Account Owner, in its capacity as credit card issuer, through VISA USA, Inc., MasterCard International Incorporated, American Express Company, or any other similar entity, (b) are paid by the applicable Account Owner to BACCS under the First Tier Agreement, and (c) are allocable to the Receivables sold by BACCS to Funding using a formula equivalent to the one described in the First Tier Agreement.

"Late Fee" means a late fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"Lien" means any security interest, lien, mortgage, deed of trust, pledge, hypothecation, encumbrance, assignment, participation interest, equity interest, deposit arrangement, preference, priority, or other security or preferential arrangement of any kind or nature.  This term includes any conditional sale or other title retention arrangement and any financing lease having substantially the same economic effect as any security or preferential arrangement.  This term does not include any security interest or other lien created in favor of the MTII Trustee under the Pooling and Servicing Agreement, any predecessor agreement to the Pooling and Servicing Agreement, or in connection with the First Tier Agreement or any predecessor agreement to the First Tier Agreement.

"Merger" has the meaning set forth above under the heading "Background".

"Merger Date" has the meaning set forth above under the heading "Background".

"MTII" means the BA Master Credit Card Trust II.

"MTII Trustee" means The Bank of New York Mellon, as trustee of MTII.

"Obligor" means, for any VISA,® MasterCard,® or American Express® credit card account, any Person obligated to make payments on receivables in that account.  This term includes any guarantor but excludes any merchant.

6

"Officer's Certificate" means a certificate delivered to Funding and signed by any Vice President or more senior officer of BACCS.

"Original First Tier Agreement" has the meaning set forth above under the heading "Background".

"Original Receivables Purchase Agreement" has the meaning set forth above under the heading "Background".

"Periodic Finance Charge" means a finance charge determined by periodic rate or similar charge that is charged to an Account under the related Credit Card Agreement.

"Person" means any person or entity of any nature.  This term includes any individual, corporation, limited liability company, partnership, limited partnership, limited liability partnership, joint venture, association, joint-stock company, trust, unincorporated organization, or Governmental Authority.

"Pooling and Servicing Agreement" means the Third Amended and Restated Pooling and Servicing Agreement, dated as of October 1, 2014, among the Servicer, Funding, and the MTII Trustee.

"Principal Receivable" means any Receivable other than a Finance Charge Receivable.  In calculating the aggregate amount of Principal Receivables in an Account on any date, the gross amount of Principal Receivables in the Account on that date must be reduced by the aggregate amount of credit balances in the Account on that date.

"Purchase Price" has the meaning set forth in subsection 3.01(a).

"Purchase Price Adjustment" has the meaning set forth in subsection 3.02(a).

"Purchase Price Payment Date" has the meaning set forth in subsection 3.01(c).

"Purchased Assets" has the meaning set forth in subsection 2.01(a).

"Rating Agency" means each nationally-recognized statistical rating organization that is selected by Funding to rate any security issued by MTII.

"Receivable" means any amount payable on an Account by the related Obligors.  This term includes Principal Receivables and Finance Charge Receivables.

"Recoveries" means, for any Receivable that has been charged off as uncollectible, all amounts recovered on that Receivable.  If BACCS and Funding cannot determine whether a recovered amount relates to a Receivable that was sold to Funding or to a receivable that has not been sold to Funding, this term means the amount reasonably estimated by BACCS and Funding as having been recovered on the Receivable that was sold to Funding.

"Removed Account" means any Account that has been identified as a Removed Account (as defined in the Pooling and Servicing Agreement) by the Servicer to BACCS and Funding.

7

"Requirements of Law" means, for any Person, (a) any certificate of incorporation, certificate of formation, articles of association, bylaws, limited liability company agreement, or other organizational or governing documents of that Person and (b) any law, treaty, statute, regulation, or rule, or any determination by a Governmental Authority or arbitrator, that is applicable to or binding on that Person or to which that Person is subject.  This term includes usury laws, the Truth in Lending Act, and Regulation Z and Regulation B of the Board of Governors of the Federal Reserve System.

"Second Amended and Restated Pooling and Servicing Agreement" means the Second Amended and Restated Pooling and Servicing Agreement, dated as of October 20, 2006, among Funding, FIA, as servicer, and the MTII Trustee.

"Service Transaction Fee" means a service transaction fee or similar fee that is charged to an Account under the related Credit Card Agreement.

"Servicer" means the Person acting as Servicer under the Pooling and Servicing Agreement.

"Stop Date" has the meaning set forth in subsection 2.03(a).

"Supplemental Conveyance" has the meaning set forth in subsection 2.02(b).

"Transfer Restriction Event" means any event that prevents BACCS from selling Receivables to Funding under this Agreement.  This term includes any Insolvency Event or any order of a Governmental Authority that has this effect.

"Transferred Account" means any VISA,® MasterCard,® or American Express® credit card account (a) into which all of the Receivables in an Account are transferred because the related credit card was lost or stolen or the related credit card program was changed, if the Credit Card Guidelines do not require a new application or credit evaluation, and (b) that can be traced or identified by reference to the Account Schedule and the computer or other records of the Servicer.

"UCC" means the Uniform Commercial Code of the applicable jurisdiction.

Section 1.02.  Rules of Construction.  The term "include" introduces a nonexhaustive list.  The canon of ejusdem generis may be applied only in the context of this Agreement's purpose and not merely in the context of a particular phrase.  A reference to any law is to that law as amended or supplemented to the applicable time.  A reference to any agreement, document, policy, or procedure is to that agreement, document, policy, or procedure as amended or supplemented to the applicable time.  A reference to any Person includes that Person's successors and permitted assigns.

[END OF ARTICLE I]

8

ARTICLE II

PURCHASE AND SALE OF RECEIVABLES

Section 2.01.  Purchase and Sale.

(a)  In consideration of Funding's payment of each related Purchase Price, BACCS hereby sells and assigns to Funding, without recourse, all of BACCS's right, title and interest in, to, and under (i) the Receivables existing on the Closing Date and arising after the Closing Date in each Initial Account (including any related Transferred Account), and the Receivables existing on the related Addition Date and arising after that Addition Date in each Additional Account (including any related Transferred Account), (ii) all Interchange, Insurance Proceeds, and Recoveries allocable to those Receivables, (iii) all Collections on those Receivables, and (iv) all proceeds of any of this property (collectively, the "Purchased Assets").  Funding hereby accepts the Purchased Assets sold under this Agreement.

(b)  Principal Receivables in each Initial Account that exist on the Closing Date, and the related Finance Charge Receivables and other Purchased Assets, are sold by BACCS and purchased by Funding on the Closing Date.  Principal Receivables in each Initial Account that arise after the Closing Date, and the related Finance Charge Receivables and other Purchased Assets, are sold by BACCS and purchased by Funding on the date on which those Principal Receivables arise.  Principal Receivables in each Additional Account that exist on the related Addition Date, and the related Finance Charge Receivables and other Purchased Assets, are sold by BACCS and purchased by Funding on that Addition Date.  Principal Receivables in each Additional Account that arise after the related Addition Date, and the related Finance Charge Receivables and other Purchased Assets, are sold by BACCS and purchased by Funding on the date on which those Principal Receivables arise.

(c)  BACCS must authorize, deliver, and file all financing statements, amendments of financing statements, and continuation statements that are necessary or appropriate to perfect, or to maintain the perfection of, BACCS's sale of the Purchased Assets to Funding.  These financing statements, amendments of financing statements, and continuation statements must name BACCS as seller and Funding as buyer of the Purchased Assets.  BACCS must deliver to Funding a file-stamped copy of each of these financing statements, amendments of financing statements, and continuation statements as soon as practicable after filing.  All acts required of BACCS in this paragraph must be taken at BACCS's own expense.

(d)  On or prior to the Closing Date, BACCS must mark its books, records, and computer files to make clear that the Receivables arising in the Initial Accounts and the related Purchased Assets have been sold to Funding under this Agreement and transferred to the MTII Trustee under the Second Amended and Restated Pooling and Servicing Agreement.  On or prior to each Addition Date, BACCS must mark its books, records, and computer files to make clear that the Receivables arising in the related Additional Accounts and the related Purchased Assets have been sold to Funding under this Agreement and transferred to the MTII Trustee under the 

9

Pooling and Servicing Agreement.  When a Transferred Account is created, BACCS must mark its books, records, and computer files to make clear that the Receivables arising in that Transferred Account and the related Purchased Assets have been sold to Funding under this Agreement and transferred to the MTII Trustee under the Pooling and Servicing Agreement.  BACCS must not change any of these entries in its books, records, or computer files relating to an Account unless and until (i) that Account becomes a Deleted Account, (ii) that Account is sold as permitted by subsection 5.01(l) of the First Tier Agreement, or (iii) BACCS has taken all actions that are necessary or appropriate to maintain the perfection and the priority of Funding's ownership interest in the related Purchased Assets.  All acts required of BACCS in this paragraph must be taken at BACCS's own expense.

(e)  On or prior to the Closing Date, BACCS must deliver to Funding the initial Account Schedule.  On or prior to each Addition Date, BACCS must deliver to Funding an updated Account Schedule that identifies the related Additional Accounts.  Promptly after a request from Funding, and at least once every two months regardless of whether a request is made by Funding, BACCS must deliver to Funding an updated Account Schedule that identifies all Transferred Accounts that were created during the applicable period.  All acts required of BACCS in this paragraph must be taken at BACCS's own expense.

(f)  The parties intend that the transfer of the Purchased Assets by BACCS to Funding be an absolute sale and not a secured borrowing, including under generally accepted accounting principles in effect before November 15, 2009.  If the transaction under this Agreement were determined to be a loan rather than an absolute sale despite this intent of the parties, BACCS hereby grants to Funding a first priority security interest in all of BACCS's right, title, and interest, whether now owned or hereafter acquired, in, to, and under the Purchased Assets to secure BACCS's obligations under this Agreement.  This grant is a protective measure and must not be construed as evidence of any intent contrary to the one expressed in this paragraph.

Section 2.02.  Addition of Accounts.

(a)  Funding may be obligated to designate additional accounts under subsection 2.06(a) of the Pooling and Servicing Agreement or may elect to designate additional accounts under subsection 2.06(b) of the Pooling and Servicing Agreement.  In either case, Funding may require that BACCS designate Additional Accounts under this Agreement to enable Funding to satisfy that obligation or election.  Funding must give BACCS notice of this requirement to designate Additional Accounts under this Agreement at least four Business Days prior to the related Addition Date.  If BACCS fails to designate Additional Accounts in compliance with that notice only because sufficient credit card accounts are not available to BACCS, that failure will not be a breach of this Agreement.

10

(b)  On each Addition Date, the related Additional Accounts will become Accounts if the following conditions have been satisfied:

(i)  on or prior to that Addition Date, BACCS must have filed all financing statements, amendments of financing statements, and continuation statements that are required under subsection 2.01(c);

(ii)  on or prior to that Addition Date, BACCS must have marked its books, records, and computer files to make clear that the Receivables arising in those Additional Accounts and the related Purchased Assets have been sold to Funding under this Agreement and transferred to the MTII Trustee under the Pooling and Servicing Agreement;

(iii)  on or prior to that Addition Date, BACCS must have delivered to Funding an updated Account Schedule that identifies those Additional Accounts;

(iii)  on that Addition Date, BACCS must have delivered to Funding an Officer's Certificate of BACCS, dated that Addition Date, certifying that the applicable representations and warranties described in Sections 4.01 and 4.02 are true and correct; and

(iv)  on that Addition Date, BACCS and Funding must have executed a written assignment covering the related Purchased Assets, substantially in the form of Exhibit A (the "Supplemental Conveyance").

Section 2.03.  Removal and Deletion of Accounts.

(a)  On the Business Day (the "Stop Date") following the date on which an Account becomes a Removed Account, BACCS must stop selling to Funding new Principal Receivables arising in that Account.  Notwithstanding the preceding sentence, Funding will continue to own all Principal Receivables that were sold to Funding prior to the Stop Date, all Collections on those Principal Receivables, all Finance Charge Receivables that accrue on those Principal Receivables regardless of when they arise, and all Collections on those Finance Charge Receivables.  If BACCS and Funding cannot determine whether collections relate to a Receivable that was sold to Funding or to a receivable that has not been sold to Funding, BACCS and Funding must allocate payments on the related Removed Account proportionately based on the total amount of Principal Receivables in that Removed Account then owned by Funding and the total amount of principal receivables in that Removed Account then owned by BACCS or the applicable Account Owner.

(b)  From and after the Stop Date for a Removed Account, BACCS may mark its books, records, and computer files to make clear that the Account is a Removed Account.  But BACCS must not change the entries described in subsection 2.01(d) relating to that Removed Account or delete that Removed Account from the Account Schedule unless and until that Removed Account becomes a Deleted Account or BACCS has taken all actions that are 

11

necessary or appropriate to maintain the perfection and the priority of Funding's ownership interest in the related Purchased Assets.

(c)  Once a Removed Account becomes a Deleted Account, BACCS promptly must mark its books, records, and computer files to make clear that the Account is a Deleted Account and must delete that Deleted Account from the Account Schedule.

[END OF ARTICLE II]

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ARTICLE III

CONSIDERATION AND PAYMENT

Section 3.01.  Purchase Price.

(a)  Funding must pay to BACCS each purchase price described in this Article III (a "Purchase Price") in return for the related Purchased Assets.  Notwithstanding any other provision of this Agreement, BACCS is not obligated to sell Principal Receivables, and the related Finance Charge Receivables and other Purchased Assets, to Funding to the extent that Funding does not pay BACCS the related Purchase Price.

(b)  The Purchase Price for the Principal Receivables in each Initial Account that exist on the Closing Date, and the related Finance Charge Receivables and other Purchased Assets, is an amount equal to the fair market value of those Principal Receivables and the related Finance Charge Receivables and other Purchased Assets as mutually determined by BACCS and Funding.  This Purchase Price is payable by Funding to BACCS in immediately available funds on the Closing Date.  

(c)  The Purchase Price for the Principal Receivables in each Initial Account that arise after the Closing Date, and the related Finance Charge Receivables and other Purchased Assets, is an amount equal to 100% of the aggregate balance of those Principal Receivables, adjusted to reflect the factors that BACCS and Funding mutually determine will result in a Purchase Price that is equal to the fair market value of those Principal Receivables and the related Finance Charge Receivables and other Purchased Assets.  This Purchase Price is payable by Funding to BACCS in immediately available funds on each date (a "Purchase Price Payment Date") mutually selected by BACCS and Funding, but the Purchase Price Payment Date for any Principal Receivable and the related Finance Charge Receivables and other Purchased Assets must not be later than the fifth Business Day following the calendar month in which that Principal Receivable arises.

(d)  The Purchase Price for the Principal Receivables in each Additional Account that exist on the related Addition Date, and the related Finance Charge Receivables and other Purchased Assets, is an amount equal to 100% of the aggregate balance of those Principal Receivables and the Finance Charge Receivables existing in that Additional Account on that Addition Date, adjusted to reflect the factors that BACCS and Funding mutually determine will result in a Purchase Price that is equal to the fair market value of those Principal Receivables and the related Finance Charge Receivables and other Purchased Assets.  This Purchase Price is payable by Funding to BACCS in immediately available funds on that Addition Date.

(e)  The Purchase Price for the Principal Receivables in each Additional Account that arise after the related Addition Date, and the related Finance Charge Receivables and other Purchased Assets, is an amount equal to 100% of the aggregate balance of those Principal Receivables, adjusted to reflect the factors that BACCS and Funding mutually 

13

determine will result in a Purchase Price that is equal to the fair market value of those Principal Receivables and the related Finance Charge Receivables and other Purchased Assets.  This Purchase Price is payable by Funding to BACCS in immediately available funds on the related Purchase Price Payment Date, but the Purchase Price Payment Date for any Principal Receivable and the related Finance Charge Receivables and other Purchased Assets must not be later than the fifth Business Day following the calendar month in which that Principal Receivable arises.

(f)  No determination of fair market value under this Section 3.01 can assume any purchase by Funding of Principal Receivables arising in the future or the related Finance Charge Receivables and other Purchased Assets.

Section 3.02.  Adjustments to Purchase Price.

(a)  The Purchase Price payable on any Purchase Price Payment Date will be reduced (a "Purchase Price Adjustment") if, since the immediately preceding Purchase Price Payment Date, a Principal Receivable previously sold to Funding has been reduced by FIA, BANA, BACCS, or the Servicer because of a rebate, refund, unauthorized charge, or billing error to the related Obligors.  The amount of that Purchase Price Adjustment is equal to the amount by which that Principal Receivable has been reduced.  A Purchase Price Adjustment must not be made for a rebate, refund, unauthorized charge, or billing error that is caused by the Servicer's breach of its obligations under the Pooling and Servicing Agreement.

(b)  If a Purchase Price Adjustment causes the Purchase Price to be a negative number, BACCS must pay to Funding in immediately available funds on the related Purchase Price Payment Date an amount equal to the amount by which the Purchase Price Adjustment exceeds the unadjusted Purchase Price.  If that Purchase Price Adjustment also requires Funding to credit funds to the Collection Account under subsection 4.03(c)(i) of the Pooling and Servicing Agreement, the date by which Funding is required to do so must be a Purchase Price Payment Date.

Section 3.03.  Use of Name, Logo and Marks.  To the extent of its interest, BACCS hereby grants to Funding a non-exclusive license to use the name "FIA," "BANA," "Bank of America," and all related identifying trade or service marks, signs, symbols, logos, and designs but only for use in servicing the Receivables and only for use in a manner that is consistent with the guidelines provided by BACCS to Funding from time to time.  Further, to the extent of its interest, BACCS hereby grants to Funding a non-exclusive license to use all related servicing software but only for use in servicing the Receivables and only for use in a manner that is consistent with the guidelines provided by BACCS to Funding from time to time.  And further, to the extent of its interest, BACCS hereby grants to Funding a non-exclusive license to use all related customer lists and other intangibles but only for use in servicing the Receivables and only for use in a manner that is consistent with the guidelines provided by BACCS to Funding from time to time.  These licenses are co-extensive with the term of this Agreement and, subject to their limitations, may be assigned to any servicer engaged by Funding in a securitization of the Receivables.

[END OF ARTICLE III]

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ARTICLE IV

REPRESENTATIONS AND WARRANTIES

Section 4.01.  Representations and Warranties of BACCS Relating to BACCS.

(a)  On the Closing Date and each Addition Date, BACCS represents and warrants to Funding as follows:

(i)  BACCS is a limited liability company duly formed and validly existing in good standing under the laws of the State of North Carolina.  BACCS has full power and authority, in all material respects, to own its properties as currently owned, to conduct its business as currently conducted, and to execute, deliver, and perform its obligations under this Agreement.

(ii)  In all material respects, in each jurisdiction in which the conduct of its business requires, BACCS is duly qualified to do business, is in good standing, and has all necessary licenses and approvals.

(iii)  BACCS has duly authorized, by all necessary limited liability company action, its execution and delivery of this Agreement and any related Supplemental Conveyance and its consummation of the transactions contemplated by this Agreement and any related Supplemental Conveyance.

(iv)  BACCS's execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with, breach any material term of, or cause a material default under (with or without notice or lapse of time or both) any indenture, contract, agreement, mortgage, deed of trust, or other instrument to which BACCS is a party or by which BACCS or any of its properties are bound.

(v)  BACCS's execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with or violate any Requirement of Law applicable to BACCS.

(vi)  No proceeding or investigation against BACCS is pending or, to the best of BACCS's knowledge, threatened before any Governmental Authority that (A) asserts that this Agreement or any related Supplemental Conveyance is invalid, (B) seeks to prevent the consummation of any transaction contemplated by this Agreement or any related Supplemental Conveyance, (C) seeks any determination or ruling that, in 

15

BACCS's reasonable judgment, would materially and adversely affect BACCS's performance under this Agreement or any related Supplemental Conveyance, or (D) seeks any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement or any related Supplemental Conveyance.

(vii)  BACCS has obtained all approvals, authorizations, licenses, consents, and orders required of any Person in connection with BACCS's execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance.

(viii)  No Insolvency Event relating to BACCS has occurred and is continuing.

(b)  The representations and warranties set forth in this Section 4.01 will survive the sale of the Purchased Assets to Funding.  If BACCS or Funding discovers a breach of any of these representations and warranties, the party discovering that breach must give prompt notice to the other party and the MTII Trustee.

Section 4.02.  Representations and Warranties of BACCS Relating to the Agreement and the Receivabless.

(a)  On the Closing Date, in the case of any Initial Account and the related Receivables, and on each Addition Date, in the case of any related Additional Account and the related Receivables, BACCS represents and warrants to Funding as follows:

(i)  This Agreement and any related Supplemental Conveyance are legal, valid, and binding obligations of BACCS and are enforceable against BACCS in accordance with their terms, except as enforceability may be limited by Debtor Relief Laws or general principles of equity.

(ii)  This Agreement and any related Supplemental Conveyance effect a valid sale to Funding of the related Receivables, and that sale is perfected under the UCC.

(iii)  BACCS has not used any selection procedure adverse to the interests of Funding or its transferees in selecting the related Accounts.

(iv)  Each related Receivable existing on the Closing Date, in the case of any Initial Account, or as of the related Addition Date, in the case of any Additional Account, is sold to Funding free and clear of any Lien arising through or under BACCS or any of its Affiliates other than Funding, except for any Lien for municipal or other local taxes if those taxes are currently not due or if the applicable Account Owner or BACCS is currently in good faith contesting those taxes in appropriate proceedings and has set aside adequate reserves for those contested taxes.

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(v)  Each related Receivable arising after the Closing Date, in the case of any Initial Account, or after the related Addition Date, in the case of any Additional Account, is sold to Funding free and clear of any Lien arising through or under BACCS or any of its Affiliates other than Funding, except for any Lien for municipal or other local taxes if those taxes are currently not due or if the applicable Account Owner or BACCS is currently in good faith contesting those taxes in appropriate proceedings and has set aside adequate reserves for those contested taxes.

(vi)  BACCS's sale to Funding of each related Receivable existing on the Closing Date, in the case of any Initial Account, or as of the related Addition Date, in the case of any Additional Account, complies in all material respects with all Requirements of Law applicable to BACCS or the applicable Account Owner.

(vii)  BACCS's sale to Funding of each related Receivable arising after the Closing Date, in the case of any Initial Account, or after the related Addition Date, in the case of any Additional Account, complies in all material respects with all Requirements of Law applicable to BACCS or the applicable Account Owner.

(viii)  All consents, licenses, approvals, or authorizations of, or registrations or declarations with, any Governmental Authority that are required in connection with BACCS's sale of each related Receivable to Funding have been obtained or made by BACCS and are fully effective.

(ix)  On that date, the Account Schedule identifies all of the existing Accounts.

(x)  As of the date of its designation under the Amended and Restated Pooling and Servicing Agreement, in the case of any Initial Account, or as of the related Addition Date, in the case of any Additional Account, the related Account is an Eligible Account.

(xi)  As of the related Addition Date, in the case of any Additional Account, each Receivable existing in that Account is an Eligible Receivable.

(xii)  On any date after the Closing Date, in the case of any Initial Account, or after the related Addition Date, in the case of any Additional Account, on which any new Receivable is created, that Receivable is an Eligible Receivable.

(b)  The representations and warranties set forth in this Section 4.02 will survive the sale of the Purchased Assets to Funding.  If BACCS or Funding discovers a breach of any of these representations and warranties, the party discovering that breach must give prompt notice to the other party and the MTII Trustee.  BACCS acknowledges that Funding will rely on these representations and warranties in making its own representations and warranties to its transferees, including the MTII Trustee, and BACCS consents to that reliance.

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Section 4.03.  Representations and Warranties of Funding.

(a)  On the Closing Date and each Addition Date, Funding represents and warrants to BACCS as follows:

(i)  Funding is a limited liability company duly formed and validly existing in good standing under the laws of the State of Delaware.  Funding has full power and authority, in all material respects, to own its properties as currently owned, to conduct its business as currently conducted, and to execute, deliver, and perform its obligations under this Agreement.

(ii)  In all material respects, in each jurisdiction in which the conduct of its business requires, Funding is duly qualified to do business, is in good standing, and has all necessary licenses and approvals.

(iii)  Funding has duly authorized, by all necessary limited liability company action, its execution and delivery of this Agreement and any related Supplemental Conveyance and its consummation of the transactions contemplated by this Agreement and any related Supplemental Conveyance.

(iv)  Funding's execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with, breach any material term of, or cause a material default under (with or without notice or lapse of time or both) any indenture, contract, agreement, mortgage, deed of trust, or other instrument to which Funding is a party or by which Funding or any of its properties are bound.

(v)  Funding's execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with or violate any Requirement of Law applicable to Funding.

(vi)  No proceeding or investigation against Funding is pending or, to the best of Funding's knowledge, threatened before any Governmental Authority that (A) asserts that this Agreement or any related Supplemental Conveyance is invalid, (B) seeks to prevent the consummation of any transaction contemplated by this Agreement or any related Supplemental Conveyance, (C) seeks any determination or ruling that, in Funding's reasonable judgment, would materially and adversely affect Funding's performance under this Agreement or any related Supplemental Conveyance, or (D) seeks any determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement or any related Supplemental Conveyance.

18

(vii)  Funding has obtained all approvals, authorizations, licenses, consents, and orders required of any Person in connection with Funding's execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance.

(viii)  No Insolvency Event relating to Funding has occurred and is continuing.

(b)  The representations and warranties set forth in this Section 4.03 will survive the sale of the Purchased Assets to Funding.  If BACCS or Funding discovers a breach of any of these representations and warranties, the party discovering that breach must give prompt notice to the other party and the MTII Trustee.

[END OF ARTICLE IV]

19

ARTICLE V

COVENANTS

Section 5.01.  Covenants of BACCS.  BACCS covenants to do the following:

(a)  Except in enforcing or collecting an Account, BACCS will take no action that results in any Receivable not being an account under Article 9 of the Delaware UCC, and therefore, BACCS will take no action that results in any Receivable being an instrument or chattel paper under Article 9 of the Delaware UCC.  BACCS will enforce a substantially similar covenant of BANA under the First Tier Agreement.  If BACCS breaches any of these covenants, BACCS must repurchase the related Receivable under Section 6.01.

(b)  Except for the sale to Funding under this Agreement, or, with respect to the Receivables in any Account that became a Removed Account pursuant to subsection 2.07(c)(ii) of the Pooling and Servicing Agreement, BACCS will not (i) sell, assign, or transfer any Receivable to any other Person, (ii) take any other action that is inconsistent with the ownership of each Receivable by Funding or its transferee, or (iii) grant, create, incur, assume, or suffer to exist any Lien arising through or under BACCS on any Receivable, except for any Lien for municipal or other local taxes if those taxes are currently not due or if BANA or BACCS is currently in good faith contesting those taxes in appropriate proceedings and has set aside adequate reserves for those contested taxes.  BACCS will not claim any interest in any Receivable and will defend the ownership interest of Funding or its transferee in each Receivable against any third party claiming through or under BACCS.  BACCS will enforce a substantially similar covenant of BANA under the First Tier Agreement that relates to the sale and contribution of Receivables by the applicable Account Owner to BACCS.

(c)  If a Transfer Restriction Event occurs, BACCS must continue to allocate and pay to Funding all Collections on the Receivables that previously were sold to Funding unless prohibited from doing so by any Governmental Authority or Requirement of Law.  If BACCS and Funding cannot determine whether collections relate to a Receivable that was sold to Funding or to a receivable that cannot be sold to Funding, BACCS must allocate payments on the related Account proportionately based on the total amount of Principal Receivables in that Account then owned by Funding or the MTII Trustee and the total amount of principal receivables in that Account then owned by BACCS or BANA.  BACCS will acknowledge that Funding or its transferee continues to own all Principal Receivables that were sold to Funding prior to the Transfer Restriction Event, all Collections on those Principal Receivables, all Finance Charge Receivables that accrue on those Principal Receivables regardless of when they arise, and all Collections on those Finance Charge Receivables.  BACCS will enforce a substantially similar covenant of the applicable Account Owner under the First Tier Agreement that relates to Receivables sold and contributed to BACCS.

(d)  If BACCS receives Collections on any Receivable, BACCS promptly will deliver those Collections to Funding or, if Funding directs, to its transferee.  BACCS will  

20

enforce a substantially similar covenant of the applicable Account Owner under the First Tier Agreement that relates to Receivables sold and contributed to BACCS.

(e)  BACCS will enforce the applicable Account Owner's covenant under the First Tier Agreement not to transfer any Account except in a merger, consolidation, or sale permitted under the First Tier Agreement.

(f)  BACCS will enforce the applicable Account Owner's covenant under the First Tier Agreement to transfer to BACCS or its transferee all Interchange allocable to the Receivables.

(g)  BACCS will enforce the applicable Account Owner's covenant under the First Tier Agreement not to change the provisions of any Credit Card Agreement or the Credit Card Guidelines except as permitted under the First Tier Agreement.

(h)  BACCS will not change its name or its type or jurisdiction of organization without first delivering to Funding an opinion of counsel stating that all actions and filings that are necessary or appropriate to maintain the perfection and the priority of Funding's ownership interest in the Receivables have been taken or made.

(i)  On March 31 in each calendar year, beginning March 31, 2015, BACCS will deliver to Funding and the MTII Trustee an opinion of counsel (i) stating that no further filing of any financing statement, amendment of financing statement, or continuation statement is then necessary to perfect Funding's ownership interest in the Receivables, and (ii) stating that no further filing of any financing statement, amendment of financing statement, or continuation statement will be necessary prior to March 31 of the next calendar year to maintain the perfection of Funding's ownership interest in the Receivables or, if that is not the case, identifying each filing that will be necessary prior to March 31 of that calendar year.

[END OF ARTICLE V]

21

ARTICLE VI

REPURCHASE OBLIGATION

Section 6.01.  Reassignment of Ineligible Receivables.

(a)  BACCS must accept reassignment of any Receivable if Funding is required to accept reassignment of that Receivable under subsection 2.04(d) of the Pooling and Servicing Agreement and if either of the following conditions is satisfied:

(i)                 (A) the representation of BACCS under subsection 4.02(a)(iv) or (vi) relating to that Receivable is not true and correct as of the applicable date, or the representation of BACCS under subsection 4.02(a)(xi) or (xii) relating to that Receivable is not true and correct as of the applicable date because clause (d) of the definition of Eligible Receivable is not satisfied, and

(B) any of the following conditions is satisfied: (I) that Receivable is charged off as uncollectible, (II) the interest of Funding or its transferee in that Receivable or its proceeds is impaired, (III) the proceeds of that Receivable are not available to Funding or its transferee free and clear of any Lien, (IV) the Lien on that Receivable runs in favor of any Governmental Authority, (V) the Lien on that Receivable is a tax lien, (VI) the Lien on that Receivable arises under Title IV of the Employee Retirement Income Security Act, or (VII) the applicable Account Owner or BACCS has consented to the Lien on that Receivable; or

(ii)         (A)(I) the representation of BACCS under subsection 4.02(a)(iv), (vi), (xi), or (xii) relating to that Receivable is not true and correct as of the applicable date and that breach is not addressed by subsection 6.01(a)(i), or (II) the representation of BACCS under subsection 4.02(a)(i), (ii), (v), (vii), (viii), or (ix) relating to that Receivable is not true and correct as of the applicable date, and

(B) any of the following conditions is satisfied: (I) the related Account is a Defaulted Account, (II) the interest of Funding or its transferee in that Receivable or its proceeds is impaired, or (III) the proceeds of that Receivable are not available to Funding or its transferee free and clear of any Lien, and

(C) that breach is not cured within 60 days, or a longer period up to 120 days to which Funding consents, from the earlier of the date on which BACCS discovers that breach or the date on which BACCS is given notice of that breach.

(b)  BACCS must accept reassignment of any Receivable described in subsection 6.01(a) on the date on which that Receivable is reassigned to Funding under subsection 2.04(d) of the Pooling and Servicing Agreement.  On that date, automatically and without further action, Funding hereby reassigns to BACCS, without recourse, representation, or 

22

warranty, all of Funding's right, title and interest in, to, and under (i) that Receivable, (ii) all Interchange, Insurance Proceeds, and Recoveries allocable to that Receivable, (iii) all Collections on that Receivable, and (iv) all proceeds of any of this property.  On that date, BACCS must pay to Funding in immediately available funds an amount equal to the unpaid balance of that Receivable, and Funding will treat that Receivable as collected in full.  Funding must execute all agreements and other documents, and must take all other actions, that are reasonably requested by BACCS to effect this reassignment.

(c)  After a reassignment under subsection 6.01(b), if BACCS and Funding cannot determine whether collections relate to a Receivable that is owned by Funding or the MTII Trustee or to a receivable that has been reassigned to BACCS, BACCS and Funding must allocate payments on the related Account proportionately based on the total amount of Principal Receivables in that Account then owned by Funding or the MTII Trustee and the total amount of principal receivables in that Account then owned by BACCS or BANA.

Section 6.02.  Reassignment of Other Receivables.

(a)  BACCS must accept reassignment of a set of Receivables if Funding is required to accept reassignment of those Receivables under subsection 2.04(e) of the Pooling and Servicing Agreement and if the representation of BACCS under subsection 4.02(a)(i) or (ii) relating to those Receivables is not true and correct as of the applicable date.

(b)  BACCS must accept reassignment of the Receivables described in subsection 6.02(a) on the date on which those Receivables are reassigned to Funding under subsection 2.04(e) of the Pooling and Servicing Agreement.  On that date, automatically and without further action, Funding hereby reassigns to BACCS, without recourse, representation, or warranty, all of Funding's right, title and interest in, to, and under (i) those Receivables, (ii) all Interchange, Insurance Proceeds, and Recoveries allocable to those Receivables, (iii) all Collections on those Receivables, and (iv) all proceeds of any of this property.  On the Business Day immediately preceding that date, BACCS must pay to Funding in immediately available funds an amount equal to the unpaid balance of those Receivables, and Funding will treat those Receivables as collected in full.  Funding must execute all agreements and other documents, and must take all other actions, that are reasonably requested by BACCS to effect this reassignment.

[END OF ARTICLE VI]

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ARTICLE VII

CONDITIONS PRECEDENT

Section 7.01.  Conditions to Funding's Obligation on the Closing Date.  Funding's obligation to purchase the Receivables in each Initial Account that exist on the Closing Date, and the related Finance Charge Receivables and other Purchased Assets is subject to the following conditions being satisfied:

(a)  the representations and warranties made by BACCS in this Agreement on the Closing Date must be true and correct;

(b)  all information provided by BACCS to Funding relating to the Initial Accounts must be true and correct; 

(c)  BACCS must have (i) delivered the initial Account Schedule to Funding and (ii) performed all other obligations required of BACCS prior to the Closing Date under this Agreement;

(d)  BACCS must have filed all financing statements, amendments of financing statements, and continuation statements that are required under subsection 2.01(c); and

(e)  all corporate and legal matters relating to this Agreement must have been addressed in a manner satisfactory to Funding, and all related documents reasonably requested of BACCS by Funding must have been received.

Section 7.02.  Conditions to BACCS's Obligation on the Closing Date.  BACCS's obligation to sell the Receivables in each Initial Account that exist on the Closing Date, and the related Finance Charge Receivables and other Purchased Assets, is subject to the following conditions being satisfied:

(a)  the representations and warranties made by Funding in this Agreement on the Closing Date must be true and correct;

(b)  Funding must have paid the initial Purchase Price due on the Closing Date; and

(c)  all corporate and legal matters relating to this Agreement must have been addressed in a manner satisfactory to BACCS, and all related documents reasonably requested of Funding by BACCS must have been received.

[END OF ARTICLE VII]

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ARTICLE VIII

TERM AND PURCHASE TERMINATION

Section 8.01.  Term.  This Agreement will commence on the Closing Date and will continue at least until the earlier of (a) the termination of MTII under Article XII of the Pooling and Servicing Agreement and (b) the amendment of the Pooling and Servicing Agreement to remove Funding as Transferor.  After that time, either party may terminate this Agreement by giving reasonable notice to the other party.

Section 8.02.  Purchase Termination.  BACCS immediately must cease to sell Principal Receivables, and the related Finance Charge Receivables and other Purchased Assets, to Funding if (a) BACCS or BANA files a petition or commences a proceeding (i) as a debtor under any Debtor Relief Law or (ii) to have a trustee, conservator, receiver, liquidator, or similar official appointed for it or for all or substantially all of its property, (b) BACCS or BANA consents or fails to object to such a petition or proceeding commenced against it or its property, or such a petition or proceeding commenced against it or its property is not dismissed or stayed within 60 days, or a Governmental Authority orders relief in connection with such a petition or proceeding commenced against it or its property, (c) BACCS or BANA admits in writing its inability to pay its debts generally as they become due, (d) BACCS or BANA makes an assignment for the benefit of its creditors, or (e) BACCS or BANA voluntarily suspends payment of its obligations (each an "Insolvency Event").  Still, Funding or its transferee will continue to own all Principal Receivables that were sold to Funding prior to the Insolvency Event, all Collections on those Principal Receivables, all Finance Charge Receivables that accrue on those Principal Receivables regardless of when they arise, and all Collections on those Finance Charge Receivables.  If BACCS and Funding cannot determine whether collections relate to a Receivable that was sold to Funding or to a receivable that has not been sold to Funding, BACCS and Funding must allocate payments on the related Account proportionately based on the total amount of Principal Receivables in that Account then owned by Funding or the MTII Trustee and the total amount of principal receivables in that Account then owned by BACCS or BANA.  BACCS promptly must give notice of any Insolvency Event to Funding and the MTII Trustee.

[END OF ARTICLE VIII]

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ARTICLE IX

MISCELLANEOUS PROVISIONS

Section 9.01.  Amendment.  This Agreement only can be modified in a written document executed by Funding and BACCS.  No amendment of this Agreement will be effective unless (a) Funding has given prior notice of the amendment to the MTII Trustee and each Rating Agency then rating any security issued by MTII and (b) Funding has received written confirmation from each of those Rating Agencies that the amendment will not cause a reduction or withdrawal of any of those ratings.  Funding must send a copy of each amendment of this Agreement to each Rating Agency then rating any security issued by MTII.  A Supplemental Conveyance, or any other document executed in connection with a sale or reassignment under this Agreement, is not an amendment of this Agreement.

Section 9.02.  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.  THE PARTIES HERETO DECLARE THAT IT IS THEIR INTENTION THAT THIS AGREEMENT SHALL BE REGARDED AS MADE UNDER THE LAWS OF THE STATE OF DELAWARE AND THAT THE LAWS OF SAID STATE SHALL BE APPLIED IN INTERPRETING ITS PROVISIONS IN ALL CASES WHERE LEGAL INTERPRETATION SHALL BE REQUIRED.  EACH OF THE PARTIES HERETO AGREES (A) THAT THIS AGREEMENT INVOLVES AT LEAST $100,000.00, AND (B) THAT THIS AGREEMENT HAS BEEN ENTERED INTO BY THE PARTIES HERETO IN EXPRESS RELIANCE UPON 6 DEL. C. § 2708.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES (A) TO BE SUBJECT TO THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE AND OF THE FEDERAL COURTS SITTING IN THE STATE OF DELAWARE, AND (B)(1) TO THE EXTENT SUCH PARTY IS NOT OTHERWISE SUBJECT TO SERVICE OF PROCESS IN THE STATE OF DELAWARE, TO APPOINT AND MAINTAIN AN AGENT IN THE STATE OF DELAWARE AS SUCH PARTY'S AGENT FOR ACCEPTANCE OF LEGAL PROCESS, AND (2) THAT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, SERVICE OF PROCESS MAY ALSO BE MADE ON SUCH PARTY BY PREPAID CERTIFIED MAIL WITH A PROOF OF MAILING RECEIPT VALIDATED BY THE UNITED STATES POSTAL SERVICE CONSTITUTING EVIDENCE OF VALID SERVICE, AND THAT SERVICE MADE PURSUANT TO (B)(1) OR (2) ABOVE SHALL, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HAVE THE SAME LEGAL FORCE AND EFFECT AS IF SERVED UPON SUCH PARTY PERSONALLY WITHIN THE STATE OF DELAWARE.

Section 9.03.  Notices.  All notices and other communications under this Agreement must be in writing and will be considered effective when delivered by hand, by courier, by overnight delivery service, or by certified mail, return receipt requested and postage prepaid, or sent by facsimile or electronic transmission, (a) in the case of BACCS, to Banc of America Consumer Card Services, LLC, 401 North Tryon Street, Mail Code: NC1-007-07-17, 

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Charlotte, North Carolina 28255, Attention: Scott McCarthy, with a copy to Banc of America Consumer Card Services, LLC, 214 North Tryon Street, Mail Code: NC1-027-20-05, Charlotte, North Carolina 28255, Attention: Greg Lumelsky, (b) in the case of Funding, to BA Credit Card Funding, LLC, 214 North Tryon Street, Suite #21-39, NC1-027-21-04, Charlotte, North Carolina 28255, Attention: Joseph Lombardi, with a copy to (i) Bank of America, National Association, 214 North Tryon Street, Mail Code: NC1-027-20-05, Charlotte, North Carolina 28255, Attention: Greg Lumelsky and (ii) BA Credit Card Funding, LLC, 1020 North French Street, Mail Code: DE5-002-02-06, Wilmington, DE 19884, Attention: Amy Burg, and (c) in the case of the MTII Trustee, to The Bank of New York Mellon, 101 Barclay Street, 7 West, New York, New York 10286, Attention: Corporate Trust Administration—Asset Backed Securities.  Any of these entities may designate a different address in a notice to the others under this Section 9.03.

Section 9.04.  Severability.  If any part of this Agreement is held to be invalid or otherwise unenforceable, the rest of this Agreement will be considered severable and will continue in full force.

Section 9.05.  Assignment.  No party can assign any interest in this Agreement, except that (a) Funding may assign its interest in this Agreement to the MTII Trustee under the Pooling and Servicing Agreement and (b) any party may assign its interest in this Agreement to any other Person if (i) at least 10 days prior to the assignment, notice is given to the other party, the MTII Trustee, and each Rating Agency then rating any security issued by MTII, (ii) the other party gives its prior written approval to the assignment, and (iii) Funding receives prior written confirmation from each of those Rating Agencies that the assignment will not cause a reduction or withdrawal of any of those ratings.

Section 9.06.  Acknowledgement of BACCS.  BACCS acknowledges that Funding intends to assign all of its right, title, and interest in, to, and under this Agreement and the Purchased Assets to the MTII Trustee under the Pooling and Servicing Agreement, and BACCS consents to that assignment.  BACCS will have no remedy against Funding under this Agreement other than a claim for money damages and then only to the extent of funds available to Funding.  BACCS must not assert any claim to or interest in any Purchased Asset and must not take any action that would interfere with the receipt of Collections on the Purchased Assets by Funding or the MTII Trustee.  If any amount payable by BACCS to Funding under this Agreement in turn must be paid by Funding to the MTII Trustee under the Pooling and Servicing Agreement, and if Funding directs, BACCS must pay that amount directly to the MTII Trustee.

Section 9.07.  Further Assurances.  Each party must take all actions that are reasonably requested by the other party to effect more fully the purposes of this Agreement.

Section 9.08.  No Waiver; Cumulative Remedies.  No failure to exercise or delay in exercising any right or remedy under this Agreement will effect a waiver of that right or remedy.  No single or partial exercise of any right or remedy under this Agreement will preclude any other or further exercise of that right or remedy or any other right or remedy.  Except as otherwise expressly provided, the rights and remedies under this Agreement are cumulative and not exhaustive.

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Section 9.09.  Counterparts.  This Agreement may be executed in any number of counterparts, each of which will be considered an original, but all of which together will constitute one agreement.

Section 9.10.  Binding Effect; Third-Party Beneficiaries.  This Agreement benefits and is binding on the parties and their respective successors and permitted assigns.  MTII and the MTII Trustee are third-party beneficiaries of this Agreement.

Section 9.11.  Merger and Integration.  This Agreement contains all of the terms and conditions relating to its subject matter to which the parties have agreed.  All prior understandings of any kind are superseded by this Agreement.

Section 9.12.  Headings.  The headings are for reference only and must not affect the interpretation of this Agreement.

Section 9.13.  Schedules and Exhibits.  All schedules and exhibits are fully incorporated into this Agreement.

Section 9.14.  Survival of Representations and Warranties.  All representations, warranties, and covenants in this Agreement will survive the sale of the Purchased Assets to Funding and the transfer of the Purchased Assets to the MTII Trustee under the Pooling and Servicing Agreement.

Section 9.15.  Nonpetition Covenant.  Notwithstanding any prior termination of this Agreement, to the fullest extent permitted by law, BACCS must not file, commence, join, or acquiesce in a petition or a proceeding, or cause Funding or MTII to file, commence, join, or acquiesce in a petition or a proceeding, that causes (a) Funding or MTII to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed for Funding, MTII, or any substantial part of any of their property.

Section 9.16.  Clarifying Items Relating to Original Receivables Purchase Agreement.  

(a)    To the extent this Agreement requires that certain actions are to be taken as of a date prior to the date of this Agreement, the taking of such action by the applicable party under the Original Receivables Purchase Agreement shall constitute satisfaction of such requirement and each of BACCS and Funding confirms the actions taken by it prior to the date of this Agreement under the Original Receivables Purchase Agreement.

(b)  Each of BACCS and Funding hereby confirms (i) that prior to the Merger Date, the Original Receivables Purchase Agreement governed the sales of receivables from BACCS to Funding, (ii) all sales and related actions taken by BACCS and Funding in connection with the Original Receivables Purchase Agreement, (iii) that any rights and obligations created or incurred pursuant to the Original Receivables Purchase Agreement carry forward to the applicable party under this Agreement and (iv) that all representations, warranties, covenants and 

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agreements in the Original Receivables Purchase Agreement applicable to any date prior to the Merger Date remain in full force and effect with respect to such dates.

(c)  All references to the Original Receivables Purchase Agreement in any other instruments or documents shall be deemed to constitute a reference to this Agreement on and after the date hereof.

[END OF ARTICLE IX]

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Executed as of this 1st day of October, 2014.

	
 

	
BANC OF AMERICA CONSUMER CARD

 SERVICES, LLC

 

	
 

	
 

	
 

	
By:     /s/ Scott W. McCarthy                                        

	
 

	
Name: Scott W. McCarthy

	
 

	
Title:   Senior Vice President

	
 

 

	
 

	
 

	
BA CREDIT CARD FUNDING, LLC

 

	
 

	
 

	
 

	
By:    /s/ Keith W. Landis                                              

	
 

	
Name: Keith W. Landis

	
 

	
Title:   Vice President

Acknowledged and Accepted by:

THE BANK OF NEW YORK MELLON, as 

Trustee of the BA Master Credit Card

 Trust II

By:   /s/ Leslie Morales                                    

Name: Leslie Morales

Title: Vice President

BANK OF AMERICA, NATIONAL 

ASSOCIATION, as Servicer for the BA 

 Master Credit Card Trust II

By:   /s/  Keith W. Landis                             

Name: Keith W. Landis

Title: Vice President

[Signature Page to Amended and Restated Receivables Purchase Agreement between BACCS and Funding]

EXHIBIT A

SUPPLEMENTAL CONVEYANCE

This Supplemental Conveyance No. [___] (this "Supplemental Conveyance") is made as of [___], between Banc of America Consumer Card Services, LLC, a North Carolina limited liability company ("BACCS"), and BA Credit Card Funding, LLC, a Delaware limited liability company ("Funding").

BACKGROUND

BACCS and Funding are designating additional credit card accounts under the Amended and Restated Receivables Purchase Agreement, dated as of October 1, 2014, between BACCS and Funding (the "Receivables Purchase Agreement").

AGREEMENT

In consideration of the mutual promises in this Supplemental Conveyance and for other valuable consideration, the receipt and adequacy of which are acknowledged, the parties agree to the following:

1.  Defined Terms and Rules of Construction.  Each capitalized term is defined in this Section 1, or if not defined here, in the Receivables Purchase Agreement.  Rules of construction in the Receivables Purchase Agreement apply in this Supplemental Conveyance.  The following definitions apply in this Supplemental Conveyance:

"Addition Date" means, for the Additional Accounts, the close of business on [___].

"Additional Account" means each VISA,® MasterCard,® or American Express® credit card account that is designated as an Account under this Supplemental Conveyance and that is identified on Schedule 1 to this Supplemental Conveyance.

"Additional Purchased Assets" has the meaning set forth in subsection 3(a).

"BACCS" has the meaning set forth in the first paragraph of this Supplemental Conveyance.

"Funding" has the meaning set forth in the first paragraph of this Supplemental Conveyance.

"Receivables Purchase Agreement" has the meaning set forth above in "Background."

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"Supplemental Conveyance" has the meaning set forth in the first paragraph of this document.

2.  Designation of Additional Accounts.  The Additional Accounts identified on Schedule 1 to this Supplemental Conveyance are designated as Accounts under this Supplemental Conveyance and the Receivables Purchase Agreement from and after the Addition Date.  Schedule 1 is fully incorporated into this Supplemental Conveyance and the Receivables Purchase Agreement and supplements the Account Schedule under the Receivables Purchase Agreement from and after the Addition Date.

3.  Sale of Additional Purchased Assets.

(a)  In consideration of Funding's payment of each related Purchase Price under the Receivables Purchase Agreement, BACCS hereby sells and assigns to Funding, without recourse, all of BACCS's right, title and interest in, to, and under (i) the Receivables existing on the Addition Date and arising after the Addition Date in each Additional Account (including any related Transferred Account), (ii) all Interchange, Insurance Proceeds, and Recoveries allocable to those Receivables, (iii) all Collections on those Receivables, and (iv) all proceeds of any of this property (collectively, the "Additional Purchased Assets").  Funding hereby accepts the Additional Purchased Assets sold under this Supplemental Conveyance.

(b)  BACCS must take all actions relating to this sale of the Additional Purchased Assets that are required under subsections 2.01(c), (d), and (e) of the Receivables Purchase Agreement.

(c)  The parties intend that the transfer of the Additional Purchased Assets by BACCS to Funding be an absolute sale and not a secured borrowing, including under generally accepted accounting principles in effect before November 15, 2009.  If the transaction under this Supplemental Conveyance were determined to be a loan rather than an absolute sale despite this intent of the parties, BACCS hereby grants to Funding a first priority security interest in all of BACCS's right, title, and interest, whether now owned or hereafter acquired, in, to, and under the Additional Purchased Assets to secure BACCS's obligations under this Supplemental Conveyance and the Receivables Purchase Agreement.  This grant is a protective measure and must not be construed as evidence of any intent contrary to the one expressed in this paragraph.

4.  Representations and Warranties of BACCS.  BACCS acknowledges its representations and warranties relating to the Additional Accounts that are made on the Addition Date under Sections 4.01 and 4.02 of the Receivables Purchase Agreement.

5.  Ratification.  This Supplemental Conveyance supplements the Receivables Purchase Agreement from and after the Addition Date, and the parties ratify the Receivables Purchase Agreement as supplemented by this Supplemental Conveyance.

6.  Miscellaneous.  This Supplemental Conveyance may be executed in any number of counterparts, each of which will be considered an original, but all of which together 

A-2

will constitute one agreement.  Each party must take all actions that are reasonably requested by the other party to effect more fully the purposes of this Supplemental Conveyance.

7.  GOVERNING LAW.  THIS SUPPLEMENTAL CONVEYANCE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.  THE PARTIES HERETO DECLARE THAT IT IS THEIR INTENTION THAT THIS SUPPLEMENTAL CONVEYANCE SHALL BE REGARDED AS MADE UNDER THE LAWS OF THE STATE OF DELAWARE AND THAT THE LAWS OF SAID STATE SHALL BE APPLIED IN INTERPRETING ITS PROVISIONS IN ALL CASES WHERE LEGAL INTERPRETATION SHALL BE REQUIRED.  EACH OF THE PARTIES HERETO AGREES (A) THAT THIS SUPPLEMENTAL CONVEYANCE INVOLVES AT LEAST $100,000.00, AND (B) THAT THIS SUPPLEMENTAL CONVEYANCE HAS BEEN ENTERED INTO BY THE PARTIES HERETO IN EXPRESS RELIANCE UPON 6 DEL. C. § 2708.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES (A) TO BE SUBJECT TO THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE AND OF THE FEDERAL COURTS SITTING IN THE STATE OF DELAWARE, AND (B)(1) TO THE EXTENT SUCH PARTY IS NOT OTHERWISE SUBJECT TO SERVICE OF PROCESS IN THE STATE OF DELAWARE, TO APPOINT AND MAINTAIN AN AGENT IN THE STATE OF DELAWARE AS SUCH PARTY'S AGENT FOR ACCEPTANCE OF LEGAL PROCESS, AND (2) THAT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, SERVICE OF PROCESS MAY ALSO BE MADE ON SUCH PARTY BY PREPAID CERTIFIED MAIL WITH A PROOF OF MAILING RECEIPT VALIDATED BY THE UNITED STATES POSTAL SERVICE CONSTITUTING EVIDENCE OF VALID SERVICE, AND THAT SERVICE MADE PURSUANT TO (B)(1) OR (2) ABOVE SHALL, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HAVE THE SAME LEGAL FORCE AND EFFECT AS IF SERVED UPON SUCH PARTY PERSONALLY WITHIN THE STATE OF DELAWARE.

[The rest of this page is left blank intentionally.]

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Executed as of this [___] day of [__________].

	
 

	
BANC OF AMERICA CONSUMER CARD 

 SERVICES, LLC

 

	
 

	
 

	
 

	
By: _____________________________________

	
 

	
Name: 

	
 

	
Title:   

	
 

 

	
 

	
 

	
BA CREDIT CARD FUNDING, LLC

 

	
 

	
 

	
 

	
By:_____________________________________

	
 

	
Name: 

	
 

	
Title:   

Acknowledged and Accepted by:

THE BANK OF NEW YORK MELLON, as 

Trustee of the BA Master Credit Card 

 Trust II

By:                                                                          

Name: 

Title: 

BANK OF AMERICA, NATIONAL 

ASSOCIATION, as Servicer for the BA

 Master Credit Card Trust II

By:                                                                          

Name: 

Title: 

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SCHEDULE 1 TO

SUPPLEMENTAL CONVEYANCE

ADDITIONAL ACCOUNTS

 

 

 

 

 

 

A-5

SCHEDULE 1

ACCOUNT SCHEDULE

 

 

 

 

 

 

 

 

 

 

 

  

S-1-1

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