Document:

AMENDMENT
#1 TO THE SECURITIES PURCHASE AGREEMENT, CONVERTIBLE PROMISSORY NOTE,

AND
COMMON STOCK PURCHASE WARRANT DATED JANUARY 28, 2019

THIS
AMENDMENT #1 (the “Amendment”) to the SPA (as defined below), Note (as defined below), and Warrant (as defined below)
is made effective as of February 13, 2019, by and between Generex Biotechnology Corporation, a Delaware corporation (the “Company”),
and FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (the “Holder”) (collectively the
“Parties”).

BACKGROUND

A.
The Company and Holder are the parties to that certain securities purchase agreement (the “SPA”), convertibl promissory
note in the principal amount of $750,000.00 (the “Note”), and common stock purchase warrant for the purchase of 57,143
shares of the Company’s common stock (the “Warrant”), all dated January 28, 2019; and

B.
The Parties desire to amend the SPA, Note, and Warrant, as set forth expressly below.

NOW
THEREFORE, in consideration of the execution and delivery of the Amendment and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1.
The reference to “one hundred twenty (120) days following the Issue Date” in Section 3.23 of the Note shall
be replaced with “one hundred twenty (120) days following the Issue Date (provided, further, that if the SEC’s offices
are closed due to a shutdown of the U.S. government, then the number of days that the SEC’s offices are closed shall be added
to the deadline for effectiveness)”. The Company shall not provide more advantageous terms to any of its other debt holders
with respect to the filing obligations identified in this Section 1 of this Amendment unless the Company provides such terms to
the Holder as well.

2.
The references to “January 28, 2019” in the Note, SPA, and Warrant shall be amended to February 13, 2019.

3.
This Amendment shall be deemed part of, but shall take precedence over and supersede any provisions to
the contrary contained in the SPA, Note, and Warrant. Except as specifically modified hereby, all of the provisions of the SPA,
Note, and Warrant which are not in conflict with the terms of this Amendment, shall remain in full force and effect.

[Signature
page to follow] 

    	 	1	 

     

    

IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

	GENEREX BIOTECHNOLOGY CORPORATION	 
	 	 
	 	 
	By:	 
	Name: Joseph Moscato	 
	Title: Chief Executive Officer	 
	 	 
	 	 
	FIRSTFIRE GLOBAL OPPORTUNITIES FUND, LLC	 
	 	 
	By: FirstFire Capital Management LLC, its manager	 
	 	 
	By:	 
	ELI FIREMAN	 

    	 	2Exhibit 10.1

 

 

	   	Electronically Filed
	 	12/4/2018 10:11 AM

Steven D. Grierson

CLERK OF THE COURT

/s/ Steven D. Grierson

 

NOTC

PETER L. CHASEY, ESQ.

Nevada Bar No. 007650

CHASEY LAW OFFICES

3295 N. Fort Apache Road, Suite 110

Las Vegas, Nevada 89129

Tel: (702) 233-0393 Fax: (702) 233-2107

email: peter@chaseylaw.com

Attorney for Petitioner

SMALL CAP COMPLIANCE, LLC

 

EIGHTH JUDICIAL
DISTRICT COURT

 

CLARK COUNTY,
NEVADA

 

	 	)   CASE NO.:	A-18-778327-P
	In the Matter of	)   DEPT  NO.:	11
	 	)	 
	PHOENIX INTERNATIONAL VENTURES, INC., a	)	 
	Nevada Corporation,	)	 
	_______________________________________________________________	)	 

 

NOTICE OF ENTRY
OF ORDER

 

PLEASE TAKE NOTICE
that on the 3rd day of December, 2018, the attached Order Discharging Custodian was entered in the above-captioned
case.

 

Dated this 4th
day of December, 2018

 

 

	 	CHASEY LAW OFFICES 
	 	 
	 	/s/ Peter L. Chasey                        
	 	Peter L. Chasey, Esq.

                                                 Nevada Bar No. 007650

                                                 3295 N. Fort Apache Rd., Ste. 110

                                                 Las Vegas, NV 89129

                                                 Tel: (702) 233-0393 Fax: (702) 233-2107

                                                 Email: peter@chaseylaw.com

                                                 Attorney for Petitioner

                                                 SMALL CAP COMPLIANCE, LLC  

 

 

 

 

 

 

 

    	 	1	 

     

    

 

CERTIFICATE
OF SERVICE

 

I hereby certify that on the 4th day
of December, 2018, I served a true and complete copy of the foregoing NOTICE OF ENTRY OF ORDER by placing a copy
of the same in the United States Mail postage fully prepaid addressed to the following:

 

	Phoenix International Ventures, Inc.	Phoenix International Ventures, Inc.
	61 B Industrial Parkway	2201 Lockheed Way
	Carson City, NV 89706	Carson City, NV 89706
	 	 
	Phoenix International Ventures, Inc.	Transfer Online
	201 Lockheed Way	512 SE Salmon Street
	Carson City, NV 89706	Portland, OR 97214

 

 

 

/s/
Shannon Bernosky                                                  

AN EMPLOYEE OF CHASEY LAW OFFICES  

 

 

 

 

 

 

 

 

 

    	 	2	 

     

    

 

 

	   	Electronically Filed
	 	12/3/2018 10:11 AM

Steven D. Grierson

CLERK OF THE COURT

/s/ Steven D. Grierson

 

ORDR

PETER L. CHASEY, ESQ.

Nevada Bar No. 007650

CHASEY LAW OFFICES

3295 N. Fort Apache Road, Suite 110

Las Vegas, Nevada 89129

Tel: (702) 233-0393 Fax: (702) 233-2107

email: peter@chaseylaw.com

Attorney for Petitioner

SMALL CAP COMPLIANCE, LLC

 

EIGHTH JUDICIAL
DISTRICT COURT

 

CLARK COUNTY,
NEVADA

 

	 	)   CASE NO.:	A-18-778327-P
	In the Matter of	)   DEPT  NO.:	11
	 	)	 
	PHOENIX INTERNATIONAL VENTURES, INC., a	)	 
	Nevada Corporation,	)	 
	_______________________________________________________________	)	 

 

ORDER DISCHARGING
CUSTODIAN

 

Custodian
SMALL CAP COMPLIANCE, LLC's Motion to Discharge Custodian came on for hearing before the above Court and, having considered the
motion, and good cause appearing, this Court orders and decrees as follows:

 

IT IS HEREBY
ORDERED that the actions taken by Custodian SMALL CAP COMPLIANCE, LLC on behalf of PHOENIX INTERNATIONAL VENTURES, INC. are hereby
approved,

 

IT IS FURTHER
ORDERED that the SMALL CAP COMPLIANCE, LLC's Custodianship of the Nevada Corporation known as PHOENIX INTERNATIONAL VENTURES, INC.
is hereby terminated,

 

 

 

	☒   Voluntary Dismissal	☐   Summary Judgment
	☐   Involuntary  Dismissal	☐   Stipulated  Judgment
	☐   Stipulated  Dismissal	☐   Default  Judgment
	☐   Motion to Dismiss by Deft(s)	 ☐   Judgment of Arbitration

 

 

 

 

 

    	 	3	 

     

    

 

IT IS FURTHER ORDERED that
Custodian SMALL CAP COMPLIANCE, LLC is hereby discharged as Custodian of the Nevada Corporation known as PHOENIX INTERNATIONAL
VENTURES, INC.

 

IT IS SO ORDERED.

 

 

Dated
this 28th day of November 2018.

 

/s/
Signature Illegible                                 

DISTRICT
COURT JUDGE

 

 

Respectfully Submitted by:

CHASEY LAW OFFICES

 

 

/s/ Peter L. Chasey                             

Peter L. Chasey, Esq.

Nevada Bar No.
007650

3295 N. Fort Apache Rd., Ste.
110

Las Vegas, NV 89129

(702) 233-0393

Attorney for Petitioner

SMALL CAP COMPLIANCE, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	4EX-4.1.1

 EXHIBIT 4.1.1 

 
  

 
 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 
 as Issuer 

and 
 THE BANK OF NEW YORK
MELLON 
 as Indenture Trustee 

CLASS A(2019-1) TERMS DOCUMENT 

dated as of February 28, 2019 

TO 
 CARD SERIES INDENTURE
SUPPLEMENT 
 dated as of October 9, 2002, 

as amended and restated as of March 17, 2016 

TO 
 ASSET POOL 1 SUPPLEMENT

 dated as of October 9, 2002, 

as amended by the First Amendment thereto dated as of March 1, 2008 

to 
 INDENTURE 

dated as of October 9, 2002, as amended and restated as of January 13, 2006, 

and March 17, 2016 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE I Definitions and Other Provisions of General Application
	  	 	1	 
		
	 Section 1.01. Definitions
	  	 	1	 
	 Section 1.02. Governing Law
	  	 	7	 
	 Section 1.03. Counterparts
	  	 	7	 
	 Section 1.04. Ratification of Indenture, Asset Pool 1 Supplement and Indenture
Supplement
	  	 	7	 
		
	 ARTICLE II The Class A(2019-1) Notes
	  	 	8	 
		
	 Section 2.01. Creation and Designation
	  	 	8	 
	 Section 2.02. Adjustments to Required Subordinated Percentages
	  	 	8	 
	 Section 2.03. Interest Payment
	  	 	8	 
	 Section 2.04. [Reserved]
	  	 	9	 
	 Section 2.05. Payments of Interest and Principal
	  	 	9	 
	 Section 2.06. Form of Delivery of
Class A(2019-1) Notes; Depository; Denominations
	  	 	9	 
	 Section 2.07. Delivery and Payment for the
Class A(2019-1) Notes
	  	 	9	 
	 Section 2.08. Targeted Deposits to the Accumulation Reserve Account
	  	 	9	 

  
 i 

 THIS CLASS A(2019-1) TERMS DOCUMENT (this
“Terms Document”), by and between CAPITAL ONE MULTI-ASSET EXECUTION TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its
principal office at E. A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road, Wilmington, DE 19805 and THE BANK OF NEW YORK MELLON, a New York banking corporation, as Indenture Trustee (the “Indenture
Trustee”), is made and entered into as of February 28, 2019. 
 Pursuant to this Terms Document, the Issuer shall create a new
tranche of Class A Notes and shall specify the principal terms thereof. 
 ARTICLE I 

Definitions and Other Provisions of General Application 

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

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

  

	 	(2)	 all other terms used herein which are defined in the Indenture Supplement, the Asset Pool 1 Supplement or the
Indenture, either directly or by reference therein, have the meanings assigned to them therein; 

  

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

  

	 	(4)	 all references in this Terms Document to designated “Articles,” “Sections” and other
subdivisions are to the designated Articles, Sections and other subdivisions of this Terms Document; 

  

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

  

	 	(6)	 in the event that any term or provision contained herein shall conflict with or be inconsistent with any term
or provision contained in the Indenture Supplement, the Asset Pool 1 Supplement, the Indenture or the Transfer and Administration Agreement, the terms and provisions of this Terms Document shall be controlling; 

  
 1 

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

  

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

 “Accumulation Period Amount” means $125,000,000; provided, however, if
the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the
definition of “Accumulation Period Amount” in the Indenture Supplement. 
 “Accumulation Reserve Funding Period”
shall mean, (a) if the Accumulation Period Length is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the period (x) commencing on the earliest to occur of (i) the
Monthly Period beginning three (3) calendar months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class A(2019-1) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the first Distribution Date following and including the January
2020 Distribution Date for which the Quarterly Excess Spread Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 12 months prior to the first Distribution Date for
which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for the Class A(2019-1) Notes pursuant to
Section 3.10(b) of the Indenture Supplement, (iii) the Monthly Period following the first Distribution Date following and including the July 2020 Distribution Date for which the Quarterly Excess Spread Percentage is
less than 3%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 6 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for the Class A(2019-1) Notes pursuant to Section 3.10(b) of the Indenture Supplement, and (iv) the Monthly Period following
the first Distribution Date following and including the September 2020 Distribution Date for which the Quarterly Excess Spread Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence
earlier than 4 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for the
Class A(2019-1) Notes pursuant to Section 3.10(b) of the Indenture Supplement and (y) ending on the close of business on the last day of the Monthly Period preceding the
earlier to occur of (i) the Expected Principal Payment Date for the Class A(2019-1) Notes and (ii) the date on which the Class A(2019-1) Notes are
paid in full. 
 “Asset Pool 1 Supplement” means the Asset Pool 1 Supplement dated as of October 9, 2002, as amended
by the First Amendment thereto, dated as of March 1, 2008, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 

  
 2 

 “Base Rate” means, with respect to any Monthly Period, the sum of
(a) the Card Series Servicing Fee Percentage and (b) the weighted average (based on the Outstanding Dollar Principal Amount of the related Card Series Notes) of the following: 

(i) in the case of a Tranche of Card Series Dollar Interest-bearing Notes with no
Derivative Agreement for interest, the rate of interest applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing
Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing Notes in the following Monthly Period; 

(ii) in the case of a Tranche of Card Series Discount Notes, the rate of accretion (converted to an accrual rate) of such
Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Discount Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Discount Notes in
the following Monthly Period; 
 (iii) in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement
for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue (prior to the netting of such payments, if applicable) for the period from and including the Monthly Interest Accrual Date for such Tranche of
Card Series Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; provided, however, that in the case of a Tranche of Card Series Notes with a
Performing Derivative Agreement for interest in which the rating on such Tranche of Card Series Notes is not dependent upon the rating of the applicable Derivative Counterparty, the amount determined pursuant to this clause (iii) will be the
higher of (1) the rate determined pursuant to this clause (iii) above and (2) the rate of interest applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in
such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; and 

(iv) in the case of a tranche of Card Series Notes with a non-Performing Derivative
Agreement for interest, the rate specified for that date in the related Terms Document. 
 “Class A(2019-1) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event with respect to the Class A(2019-1) Notes or
(b) an Event of Default and acceleration of the Class A(2019-1) Notes. 

“Class A(2019-1) Note” means any Note, substantially in the form
set forth in Exhibit A-2 to the Indenture Supplement, designated therein as a Class A(2019-1) Note and duly executed and authenticated in accordance
with the Indenture. 
 “Class A(2019-1) Noteholder” means a
Person in whose name a Class A(2019-1) Note is registered in the Note Register. 

  
 3 

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

“Excess Spread Percentage” shall mean, with respect to any Distribution Date, the amount, if any, by which the Portfolio
Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
 “Expected Principal Payment Date”
means February 15, 2022. 
 “Initial Dollar Principal Amount” means $1,500,000,000. 

“Indenture” means the Indenture dated as of October 9, 2002, as amended and restated as of January 13, 2006, and
March 17, 2016, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 

“Indenture Supplement” means the Card Series Indenture Supplement dated as of October 9, 2002, as amended and restated
as of March 17, 2016, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 

“Interest Payment Date” means the fifteenth day of each month, commencing in April 2019, or if such fifteenth day is not a
Business Day, the next succeeding Business Day. 
 “Interest Period” means, with respect to any Interest Payment Date, the
period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and including the Issuance Date) through the day preceding such Interest Payment Date. 

“Issuance Date” means February 28, 2019. 

“Legal Maturity Date” means December 16, 2024. 

“Maximum Subordination Amount of Class B Notes” means, for the
Class A(2019-1) Notes for any date of determination, an amount equal to the product of (a) Adjusted Outstanding Dollar Principal Amount of the
Class A(2019-1) Notes on such date of determination and (b) the percentage equivalent of a fraction, the numerator of which is 9 and the denominator of which is 79.00. 

“Note Interest Rate” means a rate per annum equal to 2.84%. 

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

  
 4 

 “Portfolio Yield” means, with respect to any Monthly Period, the annualized
percentage equivalent of a fraction: 
 (a) the numerator of which is equal to the sum of: 

(i) the aggregate amount of Finance Charge Amounts allocated to the Card Series with respect to such Monthly Period;
plus 
 (ii) the aggregate amount of Interest Funding sub-Account Earnings on
all Tranches of Card Series Notes for such Monthly Period; plus 
 (iii) any amounts to be treated as Card Series
Finance Charge Amounts pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement; minus 

(iv) the excess, if any, of (1) the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings
Shortfall over (2) the sum of the aggregate amount to be treated as Card Series Finance Charge Amounts for such Monthly Period pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts
applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of Card Series Notes for such Monthly Period; minus 

(v) the Card Series Default Amount for such Monthly Period; and 

(b) the denominator of which is the numerator used in the calculation of the Card Series Floating Allocation Percentage for such Monthly
Period. 
 “Quarterly Excess Spread Percentage” means, with respect to the January 2020 Distribution Date and each
Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three. 

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

“Required Accumulation Reserve sub-Account Amount” means, with respect to any
Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the
last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation
that a Ratings Effect will not occur with respect to such change. 
 “Required Subordinated Amount of Class B
Notes” means, for the Class A(2019-1) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class B Notes for such Class A(2019-1) Notes on such date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2019-1) Notes on such date of
determination; provided, however, that such an amount shall not exceed the Maximum Subordination Amount of Class B Notes for the Class A(2019-1) Notes; provided further,
however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2019-1) Adverse Event, the Required Subordinated Amount of Class B Notes for the
Class A(2019-1) Notes will be the greater of (x) the amount determined above for such date of determination and (y) the amount determined above for the date immediately prior to the date on
which such Class A(2019-1) Adverse Event shall have occurred. 

  
 5 

 “Required Subordinated Amount of Class C Notes” means,
for the Class A(2019-1) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class C Notes for such
Class A(2019-1) Notes on such date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2019-1) Notes on such date of
determination; provided, however, that for any date of determination, unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded
amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the Required Subordinated Amount of Class C Notes for the Class A(2019-1) Notes will not be less than an amount equal to (i) 3.0% of the Initial Dollar Principal Amount of the Class A(2019-1) Notes, minus
(ii) the Required Subordinated Amount of Class D Notes for the Class A(2019-1) Notes; provided further, however, that for any date of determination on or after the
occurrence and during the continuation of a Class A(2019-1) Adverse Event, the Required Subordinated Amount of Class C Notes for the Class A(2019-1) Notes
will be the greater of (x) the amount determined above for such date of determination, (y) the amount determined above for the date immediately prior to the date on which such Class A(2019-1)
Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the amount determined pursuant to the preceding proviso. 

“Required Subordinated Amount of Class D Notes” means, for the
Class A(2019-1) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class D Notes for such
Class A(2019-1) Notes on such date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2019-1) Notes on such date of
determination; provided, however, that for any date of determination, unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded
amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the Required Subordinated Amount of Class D Notes for the Class A(2019-1) Notes will not be less than an amount equal to 1.2049% of the Initial Dollar Principal Amount of the Class A(2019-1) Notes, provided
further, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2019-1) Adverse Event, the Required Subordinated Amount of
Class D Notes for the Class A(2019-1) Notes will be the greatest of (x) the amount determined above for such date of determination, (y) the amount determined above for the date immediately
prior to the date on which such Class A(2019-1) Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is
greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the amount determined pursuant to the
preceding proviso. 

  
 6 

 “Required Subordinated Percentage of Class B Notes”
means, for the Class A(2019-1) Notes, 11.3925%, subject to adjustment in accordance with Section 2.02. 

“Required Subordinated Percentage of Class C Notes” means, for the
Class A(2019-1) Notes, 11.3925%, subject to adjustment in accordance with Section 2.02. 

“Required Subordinated Percentage of Class D Notes” means, for the
Class A(2019-1) Notes, 3.7975%, subject to adjustment in accordance with Section 2.02. 

“Stated Principal Amount” means $1,500,000,000. 

Section 1.02. Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS. 
 Section 1.03. Counterparts. This Terms Document may be executed in any number of
counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 

Section 1.04. Ratification of Indenture, Asset Pool 1 Supplement and Indenture Supplement. As supplemented by this Terms
Document, each of the Indenture, the Asset Pool 1 Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset Pool 1 Supplement as so supplemented by the Indenture Supplement as
so supplemented and this Terms Document shall be read, taken and construed as one and the same instrument. 
 [END OF ARTICLE I] 

  
 7 

 ARTICLE II 

The Class A(2019-1) Notes 

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

Section 2.02. Adjustments to Required Subordinated Percentages. 

(a) On any date, the Issuer may change the Required Subordinated Percentage of Class B Notes or the Required Subordinated Percentage of
Class C Notes, in each case for the Class A(2019-1) Notes, without the consent of any Noteholders or any Note Rating Agencies, provided that, (x) the sum of the Required Subordinated Percentage
of Class B Notes and the Required Subordinated Percentage of Class C Notes, in each case, for the Class A(2019-1) Notes after giving effect to such change is equal to or greater than the sum of
the Required Subordinated Percentage of Class B Notes and the Required Subordinated Percentage of Class C Notes, in each case, for the Class A(2019-1) Notes immediately prior to giving effect to
such change and (y) the Required Subordinated Amount of Class B Notes for the Class A(2019-1) Notes does not exceed the Maximum Subordination Amount of Class B Notes. 

(b) On any date, the Issuer may change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of
Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2019-1) Notes, such that after giving effect to all changes to such percentages on such date
the sum of the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes and the Required Subordinated Percentage of Class D Notes, in each case, for the
Class A(2019-1) Notes after giving effect to such change is less than the sum of the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes and
the Required Subordinated Percentage of Class D Notes, in each case, for the Class A(2019-1) Notes immediately prior to giving effect to such change, without the consent of any Noteholders, provided
that the Issuer has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes of the Card Series that the change in such percentage will not result in a Ratings Effect with respect to any Outstanding
Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion for each Master Trust and an Issuer Tax Opinion. 

Section 2.03. Interest Payment. 

(a) For each Interest Payment Date, the amount of interest due with respect to the
Class A(2019-1) Notes shall be an amount equal to one-twelfth of the product of (i) the Note Interest Rate times (ii) the Outstanding Dollar
Principal Amount of the Class A(2019-1) Notes determined as of the Record Date preceding the related Distribution Date; provided, however, that for the first Interest Payment Date the amount
of interest due is $5,325,000.00. Any interest on the Class A(2019-1) Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 

  
 8 

 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each
Distribution Date, the Indenture Trustee shall deposit into the Class A(2019-1) Interest Funding sub-Account the portion of Card Series Finance Charge Amounts
allocable to the Class A(2019-1) Notes. 
 Section 2.04. [Reserved]. 

Section 2.05. Payments of Interest and Principal. 

(a) Any installment of interest or principal, if any, payable on any Class A(2019-1) Note which
is punctually paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such
Class A(2019-1) Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written
instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed
first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of
Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
 (b)
The right of the Class A(2019-1) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class A(2019-1)
Termination Date. 
 Section 2.06. Form of Delivery of
Class A(2019-1) Notes; Depository; Denominations. 
 (a) The Class A(2019-1) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202 and 301(i) of the Indenture, respectively. 

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

(c) The Class A(2019-1) Notes will be issued in minimum denominations of $1,000 and integral
multiples of $1,000 in excess of that amount. 
 Section 2.07. Delivery and Payment for the Class A(2019-1) Notes. The Issuer shall execute and deliver the Class A(2019-1) Notes to the Indenture Trustee for authentication, and the Indenture Trustee
shall deliver the Class A(2019-1) Notes when authenticated, each in accordance with Section 303 of the Indenture. 

Section 2.08. Targeted Deposits to the Accumulation Reserve Account. The deposit targeted to be made to the Accumulation
Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 

[END OF ARTICLE II] 

  
 9 

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

			
	CAPITAL ONE MULTI-ASSET EXECUTION TRUST,
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity, but solely as Owner Trustee on behalf of the Trust
		
	By: 	 	 
	      Name:
	      Title:
		
	By: 	 	 
	      Name:
	      Title:
	
	THE BANK OF NEW YORK MELLON, as Indenture Trustee and not in its individual capacity
		
	By: 	 	 
	      Name:
	      Title:

 [Class A(2019-1) Terms Document]

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