Document:

Exhibit 4.10

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                     CHASE CREDIT CARD OWNER TRUST 2003-4

                                TRUST AGREEMENT

                                    between

                CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,
                                 as Depositor

                                      and

                           WILMINGTON TRUST COMPANY
                               as Owner Trustee

                        Dated as of September 19, 2003

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                               TABLE OF CONTENTS

                                                                           Page
                             ARTICLE I.DEFINITIONS

SECTION 1.1.  Capitalized Terms...............................................1

                            ARTICLE II.ORGANIZATION

SECTION 2.1.  Name............................................................4
SECTION 2.2.  Office..........................................................4
SECTION 2.3.  Purposes and Powers.............................................4
SECTION 2.4.  Appointment of Owner Trustee....................................5
SECTION 2.5.  Initial Capital Contribution of Trust Estate....................5
SECTION 2.6.  Declaration of Trust............................................5
SECTION 2.7.  Title to Owner Trust Property...................................6
SECTION 2.8.  Situs of Owner Trust............................................6
SECTION 2.9.  Representations and Warranties of the Depositor.................6
SECTION 2.10.  Liability of Certificateholder.................................7

              ARTICLE III.CERTIFICATES AND TRANSFER OF INTERESTS

SECTION 3.1.  Initial Ownership...............................................7
SECTION 3.2.  The Certificate.................................................7
SECTION 3.3.  Execution, Authentication and Delivery of Certificates..........8
SECTION 3.4.  Restrictions on Transfer........................................8
SECTION 3.5.  Mutilated, Destroyed, Lost or Stolen Certificate................8
SECTION 3.6.  Authenticating Agent............................................9
SECTION 3.7.  Actions of Certificateholder...................................10

                      ARTICLE IV.ACTIONS BY OWNER TRUSTEE

SECTION 4.1.  Prior Notice to Certificateholder with Respect to Certain
               Matters.......................................................10

                ARTICLE V.AUTHORITY AND DUTIES OF OWNER TRUSTEE

SECTION 5.1.  General Authority..............................................11
SECTION 5.2.  General Duties.................................................11
SECTION 5.3.  Action upon Instruction........................................12
SECTION 5.4.  No Duties Except as Specified in this Agreement or in
               Instructions..................................................12
SECTION 5.5.  No Action Except under Specified Documents or Instructions.....13
SECTION 5.6.  Restrictions...................................................13
SECTION 5.7.  Doing Business in Other Jurisdictions..........................13

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                      ARTICLE VI.CONCERNING OWNER TRUSTEE

SECTION 6.1.  Acceptance of Trusts and Duties................................14
SECTION 6.2.  Furnishing of Documents........................................15
SECTION 6.3.  Representations and Warranties.................................15
SECTION 6.4.  Reliance; Advice of Counsel....................................16
SECTION 6.5.  Not Acting in Individual Capacity..............................17
SECTION 6.6.  Owner Trustee May Own Notes....................................17

                   ARTICLE VII.COMPENSATION OF OWNER TRUSTEE

SECTION 7.1.  Owner Trustee's Fees and Expenses..............................17
SECTION 7.2.  Indemnification................................................17
SECTION 7.3.  Payments to Owner Trustee......................................18

                  ARTICLE VIII.TERMINATION OF TRUST AGREEMENT

SECTION 8.1.  Termination of Trust Agreement.................................18

       ARTICLE IX.SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES

SECTION 9.1.  Eligibility Requirements for Owner Trustee.....................19
SECTION 9.2.  Resignation or Removal of Owner Trustee........................20
SECTION 9.3.  Successor Owner Trustee........................................20
SECTION 9.4.  Merger or Consolidation of Owner Trustee.......................21
SECTION 9.5.  Appointment of Co-Trustee or Separate Trustee..................21

                            ARTICLE X.MISCELLANEOUS

SECTION 10.1.  Supplements and Amendments....................................23
SECTION 10.2.  No Legal Title to Owner Trust Estate in Certificateholder.....24
SECTION 10.3.  Limitations on Rights of Others...............................24
SECTION 10.4.  Notices.......................................................24
SECTION 10.5.  Severability..................................................25
SECTION 10.6.  Separate Counterparts.........................................25
SECTION 10.7.  Successors and Assigns........................................25
SECTION 10.8.  Nonpetition Covenants.  ......................................25
SECTION 10.9.  No Recourse...................................................25
SECTION 10.10. Headings......................................................25
SECTION 10.11. GOVERNING LAW.................................................25
SECTION 10.12. Depositor Payment Obligation..................................26
SECTION 10.13. Acceptance of Terms of Agreement..............................26

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SECTION 10.14.  Compliance with Sarbanes-Oxley Act of 2002...................26
SECTION 10.15.  Integration of Documents.....................................26

                                   EXHIBITS

         Exhibit A         -        Form of Certificate
         Exhibit B         -        Form of Certificate of Trust

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         TRUST AGREEMENT dated as of September 19, 2003 between CHASE
MANHATTAN BANK USA, NATIONAL ASSOCIATION ("Chase USA"), a national banking
association having its principal executive offices located at White Clay
Center Building 200, Route 273, Newark, Delaware 19711, as the depositor (in
its capacity as the depositor, the "Depositor") and WILMINGTON TRUST COMPANY,
a Delaware banking corporation, as the owner trustee (the "Owner Trustee").

                                  ARTICLE I.

                                  DEFINITIONS

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

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

         "Agreement" means this Chase Credit Card Owner Trust 2003-4 Trust
Agreement, as the same may be amended, modified or otherwise supplemented from
time to time.

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

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

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

         "Certificate of Trust" means the Certificate of Trust in the form
attached hereto as Exhibit B which has been filed for the Owner Trust pursuant
to Section 3810(a) of the Statutory Trust Act.

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

         "Corporate Trust Office" means, with respect to the Owner Trustee,
the principal corporate trust office of the Owner Trustee located at Rodney
Square North, 1100 North Market Street, Wilmington, DE 19890; or such other
address as the Owner Trustee may designate by notice to the Depositor, or the
principal corporate trust office of any successor Owner Trustee (the address
of which the successor Owner Trustee will notify the Certificateholder and the
Depositor).

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         "Deposit and Administration Agreement" means the Deposit and
Administration Agreement, dated as of September 19, 2003, by and between the
Owner Trust and Chase Manhattan Bank USA, National Association, as Depositor
and as Administrator, as the same may be amended, supplemented or otherwise
modified from time to time.

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

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

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

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

         "Master Trust" means the Chase Master Credit Card Trust, created
pursuant to the Third Amended and Restated Pooling and Servicing Agreement
dated as of November 15, 1999, as amended by the First Amendment thereto dated
as of March 31, 2001, and the Second Amendment thereto, dated as of March 1,
2002, by and among Chase USA, as transferor on and after June 1, 1996,
JPMorgan Chase Bank, as transferor prior to June 1, 1996 and as servicer, and
The Bank of New York, as trustee.

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

         "Owner Trust" means the statutory trust created by this Agreement and
the filing of the Certificate of Trust.

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

          "Owner Trustee" means Wilmington Trust Company, a Delaware banking
corporation, not in its individual capacity but solely as owner trustee for
the Chase Credit Card Owner Trust 2003-4 under this Agreement (unless
otherwise specified herein), and any successor Owner Trustee hereunder.

          "Requirements of Law" means, for any Person, the certificate of
incorporation or articles of association and by-laws or other organizational
or governing documents of such Person, and

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any law, treaty, rule or regulations, or determination of an arbitrator or
Governmental Authority, in each case applicable to or binding upon such Person
or to which such Person is subject, whether federal, state or local (including
without limitation, usury laws, the federal Truth in Lending Act and
Regulation Z and Regulation B of the Board of Governors of the Federal Reserve
System).

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

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

          "Statutory Trust Act" means Chapter 38 of Title 12 of the Delaware
Code, 12 Del. C. section 3801, et. seq., as the same may be amended from time
to time.

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

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

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

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

          (f) Capitalized terms used but not defined herein shall have the
meanings assigned to them in an indenture, dated as of September 19, 2003 (the
"Indenture"), by and between the Owner Trust and the Bank of New York, as
Indenture Trustee.

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                                  ARTICLE II.

                                 ORGANIZATION

          SECTION 2.1. Name. The trust created hereby shall be known as "Chase
Credit Card Owner Trust 2003-4" (hereinafter, the "Owner Trust") in which name
the Owner Trustee may conduct the business of such trust, make and execute
contracts and other instruments on behalf of such trust and sue and be sued on
behalf of the Owner Trust.

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

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

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

          (b) to acquire the property and assets set forth in the Deposit and
Administration Agreement from the Depositor pursuant to the terms thereof, to
make payments or distributions on the Notes and the Certificate and to make
deposits to and withdrawals from the Reserve Account and other accounts
established under the Indenture;

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

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

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

          (f) subject to compliance with the Basic Documents, to engage in
such other activities as may be required in connection with conservation of
the Owner Trust Estate and the making of distributions to the
Certificateholder and the Noteholders, which activities cannot be

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contrary to the status of the Owner Trust as a "qualifying special purpose
entity" under SFAS 140 and any successor rule thereto.

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

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

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

          SECTION 2.6. Declaration of Trust. The Owner Trustee hereby declares
that it will hold the Owner Trust Estate in trust upon and subject to the
conditions set forth herein for the use and benefit of the Certificateholder,
subject to the obligations of the Owner Trustee, on behalf of the Owner Trust,
under the Basic Documents. It is the intention of the parties hereto that the
Owner Trust constitute a statutory trust under the Statutory Trust Act and
that this Agreement constitutes the governing instrument of such statutory
trust. It is the intention of the parties hereto that, solely for United
States income and franchise tax purposes, the Owner Trust shall be treated as
a division or branch of the Depositor. The parties agree that, unless
otherwise required by appropriate tax authorities, they will take no action
contrary to the foregoing intention. Effective as of the date hereof, the
Owner Trustee shall have all rights, powers and duties set forth herein and to
the extent not inconsistent herewith, in the Statutory Trust Act with respect
to accomplishing the purposes of the Owner Trust. The Owner Trustee shall file
the Certificate of Trust with the Secretary of State of Delaware.

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

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

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

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

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

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

          (iv) There are no proceedings or investigations pending or, to the
     best knowledge of the Depositor, threatened against the Depositor before
     any court, regulatory body, administrative agency, or other tribunal or
     governmental instrumentality having jurisdic-

<PAGE>

     tion over the Depositor (i) asserting the invalidity of any of the Basic
     Documents to which the Depositor is a party, (ii) seeking to prevent the
     consummation of any of the transactions contemplated by any of the Basic
     Documents, to which the Depositor is a party, (iii) seeking any
     determination or ruling that, in the reasonable judgment of the Depositor,
     would materially and adversely affect the performance by the Depositor of
     its obligations under the Basic Documents to which the Depositor is a
     party, or (iv) seeking any determination or ruling that would materially
     and adversely affect the validity or enforceability of the Basic Documents
     to which the Depositor is a party.

          SECTION 2.10. Liability of Certificateholder. To the fullest extent
permitted by applicable law, the Certificateholder shall not have any personal
liability for any liability or obligation of the Owner Trustee or the Owner
Trust.

                                 ARTICLE III.

                    CERTIFICATES AND TRANSFER OF INTERESTS

          SECTION 3.1. Initial Ownership. Upon the formation of the Owner
Trust by the contribution by the Depositor pursuant to Section 2.5, the
Depositor shall be the sole beneficial owner of the Owner Trust. Upon the
issuance of the Certificate (as described below), the Certificateholder shall
be the beneficial owner of the Owner Trust.

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

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

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or be permitted to encumber any part of, the Owner Trust Estate.

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

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

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

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

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

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

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

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

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

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

                                      or

WILMINGTON TRUST COMPANY not in           WILMINGTON TRUST COMPANY
its individual capacity but               not in its individual capacity
solely as Owner Trustee for the Chase     but solely as Owner Trustee for the
Credit Card Owner Trust 2003-4            Chase Credit Card Owner Trust 2003-4

                                         By: ______________________________
                                                  Authenticating Agent

By: ______________________________       By: ______________________________
         Authorized Signatory                     Authorized Signatory

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<PAGE>

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

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

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

                                  ARTICLE IV.

                           ACTIONS BY OWNER TRUSTEE

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

          (a) the initiation of any claim or lawsuit on behalf of the Owner
Trust (except claims or lawsuits brought to collect on the Series Certificate)
and the compromise of any material action, claim or lawsuit brought by or
against the Owner Trust or the Owner Trustee (except with respect to the
aforementioned claims or lawsuits to collect on the Series Certificate);

          (b) the election by the Issuer to file an amendment to the
Certificate of Trust (unless such amendment is required to be filed under the
Statutory Trust Act);

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

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

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

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

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

                                  ARTICLE V.

                     AUTHORITY AND DUTIES OF OWNER TRUSTEE

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

          SECTION 5.2. General Duties. It shall be the duty of the Owner
Trustee to discharge (or cause to be discharged) all of its responsibilities
pursuant to the terms of this Agreement and the other Basic Documents and to
administer the Owner Trust in the interest of the Certificateholder, subject
to the Basic Documents and in accordance with the provisions of this
Agreement. Notwithstanding the foregoing, the Owner Trustee shall be deemed to
have dis charged its duties and responsibilities hereunder and under the Basic
Documents to the extent the Administrator has agreed in the Deposit and
Administration Agreement to perform any act or to discharge any duty of the
Owner Trustee or the Owner Trust hereunder or under any other Basic Document,
and the Owner Trustee shall not be liable for the default or failure of the
Administrator to carry out its obligations under the Deposit and
Administration Agreement.

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

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

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

          SECTION 5.4. No Duties Except as Specified in this Agreement or in
Instructions. The Owner Trustee shall undertake to perform such duties and
only such duties as are specifically set forth in this Agreement and the other
Basic Documents, and no implied covenants or obligations shall be read into
this Agreement or the other Basic Documents. The Owner Trustee shall not have
any duty or obligation to manage, make any payment with respect to, register,
record, sell, dispose of, or otherwise deal with the Owner Trust Estate, or to
otherwise take or refrain from taking any action under, or in connection with,
any document contemplated hereby to which the Owner Trustee is a party, except
as expressly provided by the terms of this Agreement or in any document or
written instruction received by the Owner Trustee pursuant to Section 5.3; and
no implied duties or obligations shall be read into this Agreement or any
other Basic Document against the Owner Trustee. The Owner Trustee shall have
no responsibility for filing any financing or continuation statement in any
public office at any time or to otherwise perfect or maintain the perfection
of any security interest or lien granted to it hereunder or to prepare or file
any filing for the Owner Trust with the Securities and Exchange Commission or
to record this Agreement or any other Basic Document. The Owner Trustee
nevertheless agrees that it will, at its own cost and expense, promptly take
all action as may be necessary to discharge

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<PAGE>

any Liens on any part of the Owner Trust Estate that result from actions by,
or claims against, the Owner Trustee, in its individual capacity, that are not
related to the ownership or the administration of the Owner Trust Estate.

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

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

          SECTION 5.7. Doing Business in Other Jurisdictions. (a)
Notwithstanding anything contained herein to the contrary, the Owner Trustee
shall not be required to take any action in any jurisdiction other than in the
State of Delaware, other than as set forth in the last sentence of this
Section 5.7, if the taking of such action will (i) require the consent or
approval or authorization or order of or the giving of notice to, or the
registration with or the taking of any other action in respect of, any state
or other governmental authority or agency of any jurisdiction other than the
State of Delaware; (ii) result in any fee, tax or other governmental charge
under the laws of any jurisdiction or any political subdivisions thereof in
existence on the date hereof other than the State of Delaware becoming payable
by the Owner Trustee; or (iii) subject the Owner Trustee to personal
jurisdiction in any jurisdiction other than the State of Delaware for causes
of action arising from acts unrelated to the consummation of the transactions
by the Owner Trustee, as the case may be, contemplated hereby. The Owner
Trustee shall be entitled to obtain advice of counsel (which advice shall be
an expense of the Depositor) to determine whether any action required to be
taken pursuant to this Agreement results in the consequences described in
clauses (i), (ii) and (iii) of the preceding sentence. In the event that said
counsel advises the Owner Trustee that such action will result in such
consequences, the Owner Trustee will, at the expense of the Depositor, appoint
an additional trustee pursuant to Section 9.5 to proceed with such action.

                                      13

<PAGE>

                                  ARTICLE VI.

                           CONCERNING OWNER TRUSTEE

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

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

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

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

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

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

                                      14

<PAGE>

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

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

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

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

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

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

          (b) It has taken all corporate action necessary to authorize the
execution and
                                      15

<PAGE>

delivery by it of this Agreement, and this Agreement will be executed and
delivered by one of its officers who is duly authorized to execute and deliver
this Agreement on its behalf.

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

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

          (e) This Agreement has been duly authorized, executed and delivered
by Wilmington Trust Company and shall constitute the legal, valid, and binding
agreement of Wilmington Trust Company, enforceable in accordance with its
terms, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization and other laws affecting the rights of creditors generally, and
by general principles of equity regardless of whether enforcement is pursuant
to a proceeding in equity or at law.

          (f) It will comply with all of the requirements of Section 3807(a)
of the Statutory Trust Act relating to the qualification of a trustee for a
Delaware statutory trust.

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

          (b) In the exercise or administration of the trusts hereunder and in
the performance of its duties and obligations under this Agreement or the
other Basic Documents,

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<PAGE>

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

          SECTION 6.5. Not Acting in Individual Capacity. Except as provided
in this Article VI, in accepting the trusts hereby created, Wilmington Trust
Company, not in its individual capacity but solely as Owner Trustee for the
Chase Credit Card Owner Trust 2003-4, acts solely as the Owner Trustee
hereunder and not in its individual capacity and all Persons having any claim
against the Owner Trustee by reason of the transactions contemplated by this
Agreement or any other Basic Document shall look only to the Owner Trust
Estate for payment or satisfaction thereof.

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

                                 ARTICLE VII.

                         COMPENSATION OF OWNER TRUSTEE

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

          SECTION 7.2. Indemnification. The Depositor shall be liable as
primary obligor for, and shall indemnify the Owner Trustee (in such capacity
or individually) and its successors, assigns, agents and servants
(collectively, the "Indemnified Parties") from and against, any and all
liabilities, obligations, losses, damages, taxes, claims, actions and suits,
and any and all reasonable costs, expenses and disbursements (including
reasonable legal fees and

                                      17

<PAGE>

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

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

                                 ARTICLE VIII.

                        TERMINATION OF TRUST AGREEMENT

          SECTION 8.1. Termination of Trust Agreement. (a) The Owner Trust
shall terminate upon the final distribution by the Owner Trustee of all moneys
or other property or proceeds of the Owner Trust Estate in accordance with the
terms of the Indenture, the Deposit and Administration Agreement and the
Statutory Trust Act. Any money or other property held as part of the Owner
Trust Estate following such distribution, after satisfaction of all
liabilities of the Owner Trust in accordance with Section 3808 of the
Statutory Trust Act, shall be distributed to the Certificateholder. The
bankruptcy, death, incapacity, liquidation, dissolution or termination of the
Depositor or Certificateholder (or any other beneficiary) shall not (x)
operate to

                                   18

<PAGE>

revoke or terminate this Agreement or the Owner Trust, or (y) entitle the
Certificateholder's (or any other beneficiary) legal representatives to claim
an accounting or to take any action or proceeding in any court for a partition
or winding up of all or any part of the Owner Trust or Owner Trustee Estate or
(z) otherwise affect the rights, obligations and liabilities of the parties
hereto.

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

          (c) Except as provided in this Section 8.1(c), neither the Depositor
nor the Certificateholder shall be entitled to revoke or terminate the Owner
Trust or this Agreement. The Depositor and the Owner Trustee acknowledge that
the Indenture Trustee, on behalf of the Noteholders, is a third-party
beneficiary of this Agreement and shall be entitled to enforce the terms of
this Agreement to the same extent as it was a signatory hereto. For so long as
the Notes are outstanding, neither the Owner Trust nor this Agreement shall be
revoked without the prior written consent of the Indenture Trustee. The
Depositor and the Owner Trustee acknowledge that the Indenture Trustee, as an
agent of the Noteholders, maintains a legitimate interest in ensuring that the
Owner Trust is not revoked prior to the fulfillment of the Owner Trust
objectives. In no event may this Agreement be amended without the prior
written consent of the Indenture Trustee if the effect of such amendment is
the revocation or termination of this Owner Trust other than in accordance
with this Section 8.1. Upon the winding up of the Owner Trust in accordance
with the Statutory Trust Act, the Owner Trustee shall cause the Certificate of
Trust to be canceled by filing a certificate of cancellation with the
Secretary of State in accordance with the provisions of Section 3810 of the
Statutory Trust Act and thereupon the Owner Trust and this Agreement (other
than Article VII) shall terminate.

                                  ARTICLE IX.

            SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES

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

                                      19

<PAGE>

times the Owner Trustee or a co-trustee shall be a person that satisfies the
requirements of Section 3807(a) of the Statutory Trust Act.

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

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

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

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

                                      20

<PAGE>

the Administrator and the predecessor Owner Trustee shall execute and deliver
such instruments and do such other things as may reasonably be required for
fully and certainly vesting and confirming in the successor Owner Trustee all
such rights, powers, duties and obligations.

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

          Upon acceptance of appointment by a successor Owner Trustee pursuant
to this Section, the Administrator shall mail notice of the successor of such
Owner Trustee to the Certificateholder, the Indenture Trustee, the Noteholders
and the Note Rating Agencies. If the Administrator shall fail to mail such
notice within 10 days after acceptance of appointment by the successor Owner
Trustee, the successor Owner Trustee shall cause such notice to be mailed at
the expense of the Administrator. Any successor Owner Trustee appointed
pursuant to this Section 9.3 shall be eligible to act as a trustee in
accordance with Section 3807(a) of the Statutory Trust Act and, following
compliance with this Section, shall become fully vested with the rights,
powers, duties and obligations of its predecessor under this Agreement, with
like effect as if originally named as Owner Trustee. Any successor Owner
Trustee appointed hereunder shall promptly file an amendment to the
Certificate of Trust as required by the Statutory Trust Act.

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

          SECTION 9.5. Appointment of Co-Trustee or Separate Trustee. (a)
Notwithstanding any other provisions of this Agreement, at any time, for the
purpose of meeting any legal requirements of any jurisdiction in which any
part of the Owner Trust Estate may at the time be located, the Administrator
and the Owner Trustee acting jointly shall have the power and shall execute
and deliver all instruments to appoint at the expense of the Depositor one or
more Persons approved by the Owner Trustee to act as co-trustee, jointly with
the Owner Trustee, or separate trustee or separate trustees, of all or any
part of the Owner Trust Estate, and to vest in such Person, in such capacity,
such title to the Owner Trust, or any part thereof, and, subject to the other
provisions of this Section, such powers, duties, obligations, rights and
trusts as the Administrator and the Owner Trustee may consider necessary or
desirable. If the Administrator shall not have joined in such appointment
within 15 days after the receipt by it of a request so to

                                      21

<PAGE>

do, the Owner Trustee alone shall have the power to make such appointment. No
co-trustee or separate trustee under this Agreement shall be required to meet
the terms of eligibility as a successor trustee pursuant to Section 9.1, and
no notice of the appointment of any co-trustee or separate trustee shall be
required pursuant to Section 9.3.

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

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

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

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

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

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

                                      22

<PAGE>

          (b) If, at any time, the Owner Trustee shall no longer satisfy the
requirements of Section 3807(a) of the Statutory Trust Act, the Owner Trustee
and the Administrator acting jointly shall appoint a co-trustee that meets the
requirements of Section 3807(a) of the Statutory Trust Act. Upon acceptance of
such appointment, the Owner Trustee and the co-trustee appointed pursuant to
this Section 9.5(b) shall promptly file an amendment to the Certificate of
Trust as required by the Statutory Trust Act.

                                  ARTICLE X.

                                 MISCELLANEOUS

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

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

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

                                      23

<PAGE>

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

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

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

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

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

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

          SECTION 10.6. Separate Counterparts. This Agreement may be executed
by the parties hereto in separate counterparts, each of which when so executed
and delivered shall

                                      24

<PAGE>

be an original, but all such counterparts shall together constitute but one
and the same instrument.

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

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

          SECTION 10.9. No Recourse. The Certificateholder by accepting the
Certificate acknowledges that the Certificate does not represent an interest
in or obligation of the Depositor, the Administrator, the Owner Trustee (in
its individual capacity), the Indenture Trustee or any Affiliate thereof, and
no recourse may be had against such parties or their assets, or against the
assets pledged under the Indenture.

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

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

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

                                      25

<PAGE>

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

          SECTION 10.14. Compliance with Sarbanes-Oxley Act of 2002.
Notwithstanding anything to the contrary herein or in any other Basic
Document, the Owner Trustee shall not be required to execute, deliver or
certify on behalf of the Owner Trust or any other Person any filings,
certificates, affidavits or other instruments required under the
Sarbanes-Oxley Act of 2002. Notwithstanding any Person's right to instruct the
Owner Trustee, neither the Owner Trustee nor any agent, employee, director or
officer of the Owner Trustee shall have any obligation to execute any
certificates or other documents required pursuant to the Sarbanes-Oxley Act of
2002 or the rules and regulations promulgated thereunder, and the refusal to
comply with any such instructions shall not constitute a default or breech
under any Basic Document.

          SECTION 10.15. Integration of Documents. This Agreement, together
with the Deposit and Administration Agreement, constitutes the entire
agreement of the parties hereto and thereto with respect to the subject matter
hereof and thereof and supercedes all prior agreements relating to the subject
matter hereof and thereof.

                          [Signature Page to Follow]

                                      26

<PAGE>

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

                              WILMINGTON TRUST COMPANY,
                              not in its individual capacity but
                              solely as Owner Trustee for

                              CHASE CREDIT CARD OWNER TRUST
                              2003-4

                              By: /s/ W. Chris Sponenberg
                                 ----------------------------------------------
                                    Name:  W. Chris Sponenberg
                                    Title: Vice President

                              CHASE MANHATTAN BANK USA,
                                NATIONAL ASSOCIATION,
                                as Depositor

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

                                      27

<PAGE>

                                                                      EXHIBIT A

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

                     CHASE CREDIT CARD OWNER TRUST 2003-4

                               OWNER CERTIFICATE

R-1

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

         THIS CERTIFIES THAT Chase Manhattan Bank USA, National Association is
the registered owner of one hundred percent (100%) of the beneficial interest
in the Chase Credit Card Owner Trust 2003-4 , a Delaware statutory trust (the
"Owner Trust") created pursuant to the Chase Credit Card Owner Trust 2003-4
Trust Agreement dated as of September 19, 2003 (the "Trust Agreement"),
between Chase Manhattan Bank USA, National Association (the "Depositor") and
Wilmington Trust Company, as owner trustee (the "Owner Trustee"). To the
extent not otherwise defined herein, the capitalized terms used herein have
the meanings assigned to them in the Trust Agreement including, as specified
in Section 1.1(a).

         This Certificate is the duly authorized Certificate evidencing the
sole beneficial interest in the Owner Trust (herein called the "Certificate").
This Certificate is issued under and is subject to the terms, provisions and
conditions of the Trust Agreement, to which Trust Agreement the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. Three classes of Notes designated as Class A
Floating Rate Asset Backed Notes, Series 2003-4 (the "Class A Notes"), Class B
Floating Rate Asset Backed Notes, Series 2003-4 (the "Class B Notes") and
Class C Floating Rate Asset Backed Notes, Series 2003-4 (the "Class C Notes"
and, together with the Class A Notes and the Class B Notes, the "Notes") will
be issued under the Indenture dated as of September 19, 2003 between the Owner
Trust and The Bank of New York, as Indenture Trustee.

         Notwithstanding any prior termination of the Trust Agreement, the
Certificateholder, by its acceptance of this Certificate, covenants and agrees
that it shall not at any time with respect to the Owner Trust, the Depositor
or the Master Trust, acquiesce, petition or otherwise invoke or cause the
Owner Trust, the Depositor or the Master Trust to invoke the process of any
court or government authority for the purpose of commencing or sustaining a
case against the Owner

                               Exhibit A, Page 1

<PAGE>

Trust, the Depositor or the Master Trust, under any Federal or state
bankruptcy, insolvency or similar law or appointing a receiver, conservator,
liquidator, assignee, trustee, custodian, sequestrator or other similar
official of the Owner Trust, the Depositor or the Master Trust, or any
substantial part of its property, or ordering the winding up or liquidation of
the affairs of the Owner Trust, the Depositor or the Master Trust.

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

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

          IN WITNESS WHEREOF, the Owner Trust has caused this Certificate to
be duly executed.

                                   CHASE CREDIT CARD OWNER
                                   TRUST 2003-4

                                   By:  WILMINGTON TRUST COMPANY
                                     Not in its individual capacity
                                     but solely as Owner Trustee for the Chase
                                     Credit Card Owner Trust 2003-4

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

                               Exhibit A, Page 2

<PAGE>

                         CERTIFICATE OF AUTHENTICATION

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

WILMINGTON TRUST COMPANY
not in its individual capacity
but solely as Owner Trustee for the
Chase Credit Card Owner Trust 2003-4

By: ______________________________
         Authorized Signatory

                               Exhibit A, Page 3

<PAGE>

                                                          ANNEX 1 TO EXHIBIT A

Registered Owner and address:

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

Tax Identification Number: 22-2382028

                         Annex 1 to Exhibit A, Page 1

<PAGE>

                                                                     EXHIBIT B

                            CERTIFICATE OF TRUST OF
                     CHASE CREDIT CARD OWNER TRUST 2003-4

          THIS Certificate of Trust of Chase Credit Card Owner Trust 2003-4
(the "Trust"), is being duly executed and filed by the undersigned, as
trustee, to form a statutory trust under the Delaware Statutory Trust Act (12
Del. C., section 3801 et seq.) (the "Act").

          1. Name. The name of the statutory trust created hereby is Chase
Credit Card Owner Trust 2003-4.

          2. Delaware Trustee. The name and business address of the trustee of
the Trust in the State of Delaware is Wilmington Trust Company, a Delaware
banking corporation, located at Rodney Square North, 1100 North Market Street,
Wilmington, DE 19890.

          3. Effective Date. This Certificate of Trust shall be effective
September 19, 2003.

          IN WITNESS WHEREOF, the undersigned has executed this Certificate of
Trust in accordance with Section 3811(a)(1) of the Act.

                                          WILMINGTON TRUST COMPANY,
                                                 as trustee

                                          By: __________________________________
                                          Name:
                                          Title:

                                   Exhibit BExhibit 4.8

-------------------------------------------------------------------------------

                CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION,

                     Transferor on and after June 1, 1996,

                             JPMORGAN CHASE BANK,

                 Transferor prior to June 1, 1996 and Servicer

                                      and

                             THE BANK OF NEW YORK,

                                    Trustee

               on behalf of the Series 2003-5 Certificateholders

                               _________________

                           SERIES 2003-5 SUPPLEMENT

                        Dated as of September 30, 2003

                                      to

          THIRD AMENDED AND RESTATED POOLING AND SERVICING AGREEMENT

                   Dated as of November 15, 1999, as amended

                               _________________

                        CHASE CREDIT CARD MASTER TRUST

                                 Series 2003-5

-------------------------------------------------------------------------------

<PAGE>

                               TABLE OF CONTENTS

                                                                         Page

SECTION 1.  Designation....................................................1

SECTION 2.  Definitions....................................................1

SECTION 3.  Servicing Compensation and Assignment of Interchange..........12

SECTION 4.  Reassignment and Transfer Terms...............................13

SECTION 5.  Delivery and Payment for the Investor Certificates............13

SECTION 6.  Form of Delivery of Investor Certificates.....................13

SECTION 7.  Article IV of Agreement.......................................13

SECTION 8.  Article V of the Agreement....................................24

SECTION 9.  Series 2003-5 Pay Out Events..................................26

SECTION 10.  Series 2003-5 Termination....................................27

SECTION 11.  Counterparts.................................................28

SECTION 12.  (a) Governing Law............................................28

             (b) Article 8................................................28

SECTION 13.  No Petition..................................................28

SECTION 14.  Amendment to Agreement.......................................28

SECTION 15.  Tax Representation and Covenant..............................29

SECTION 16.  Transfers of the Certificates................................29

SECTION 17.  Compliance with Withholding Requirements.....................31

SECTION 18.  Tax Characterization of the Certificates.....................31

SECTION 19.  ERISA Legend.................................................31

                                       i

<PAGE>

                                   EXHIBITS
                                   --------

EXHIBIT A    Form of Certificate
EXHIBIT B    Form of Monthly Payment Instructions and Notification to the
             Trustee
EXHIBIT C    Form of Monthly Series 2003-5 Certificateholder's Statement
EXHIBIT D    Form of Transferee Representation Letter

SCHEDULE I   Schedule to Exhibit C of the Pooling and Servicing Agreement
             with respect to the Investor Certificate

                                      ii

<PAGE>

          SERIES 2003-5 SUPPLEMENT, dated as of September 30, 2003 (this
"Series Supplement"), by and among CHASE MANHATTAN BANK USA, NATIONAL
ASSOCIATION ("Chase USA"), as Transferor on and after June 1, 1996, JPMORGAN
CHASE BANK, as Transferor prior to June 1, 1996 and as Servicer, and THE BANK
OF NEW YORK, as Trustee under the Third Amended and Restated Pooling and
Servicing Agreement dated as of November 15, 1999, as amended by the First
Amendment thereto dated as of March 31, 2001, and the Second Amendment
thereto, dated as of March 1, 2002, between Chase USA, the Servicer and the
Trustee (as may be amended, modified or supplemented from time to time, the
"Agreement").

          Section 6.9 of the Agreement provides, among other things, that the
Transferor and the Trustee may at any time and from time to time enter into a
supplement to the Agreement for the purpose of authorizing the delivery by the
Trustee to the Transferor for the execution and redelivery to the Trustee for
authentication of one or more Series of Certificates;

          Pursuant to this Series Supplement, the Transferor and the Trust
shall create a new Series of Investor Certificates and shall specify the
Principal Terms thereof;

          On the Closing Date, the Certificates will be deposited by the
Transferor in the Chase Credit Card Owner Trust 2003-5 (the "Owner Trust") and
pledged by the Owner Trust to an indenture trustee to secure certain notes to
be issued by the Owner Trust.

          SECTION 1. Designation.

          (a) There is hereby created a Series of Investor Certificates to be
issued in a single class pursuant to the Agreement and this Series Supplement
and to be known as the "Series 2003-5 Certificates." The Series 2003-5
Certificates shall be substantially in the form of Exhibit A hereto.

          (b) Series 2003-5 shall be included in Group One (as defined below).
Series 2003-5 shall not be subordinated to any other Series.

          SECTION 2. Definitions.

          In the event that any term or provision contained herein shall
conflict with or be inconsistent with any provision contained in the
Agreement, the terms and provisions of this Series Supplement shall govern.
All Article, Section or subsection references herein shall mean Articles,
Sections or subsections of the Agreement, except as otherwise provided herein.
All capitalized terms not otherwise defined herein are defined in the
Agreement. Each capitalized term defined herein shall relate only to the
Investor Certificates and no other Series of Certificates issued by the Trust.

          "Accumulation Period" shall mean, solely for the purposes of the
definition of Monthly Principal Payment as such term is defined in each
Supplement, the Controlled Accumulation Period.

<PAGE>

          "Accumulation Period Factor" shall mean, for each Monthly Period, a
fraction, the numerator of which is equal to the sum of the initial investor
interests (or other amounts specified in the applicable Supplement) of all
outstanding Series, and the denominator of which is equal to the sum of (a)
the Initial Investor Interest, (b) the initial investor interests (or other
amounts specified in the applicable Supplement) of all outstanding Series
(other than Series 2003-5) which are not expected to be in their revolving
periods, and (c) the initial investor interests (or other amounts specified in
the applicable Supplement) of all other outstanding Series which are not
allocating Shared Principal Collections to other Series and are in their
revolving periods.

          "Accumulation Period Length" shall have the meaning assigned such
term in subsection 4.9(e).

          "Accumulation Period Reserve Account" shall have the meaning
specified in subsection 4.14(a).

          "Accumulation Period Reserve Account Funding Date" shall mean the
Transfer Date which occurs not later than the earliest of (a) the Transfer
Date with respect to the Monthly Period which commences three months prior to
the commencement of the Controlled Accumulation Period; (b) the first Transfer
Date for which the Portfolio Adjusted Yield is less than 2%, but in such event
the Accumulation Period Reserve Account Funding Date shall not be required to
occur earlier than the Transfer Date with respect to the Monthly Period which
commences 12 months prior to the commencement of the Controlled Accumulation
Period; (c) the first Transfer Date for which the Portfolio Adjusted Yield is
less than 3%, but in such event the Accumulation Period Reserve Account
Funding Date shall not be required to occur earlier than the Transfer Date
with respect to the Monthly Period which commences six months prior to the
commencement of the Controlled Accumulation Period; and (d) the first Transfer
Date for which the Portfolio Adjusted Yield is less than 4%, but in such event
the Reserve Account Funding Date shall not be required to occur earlier than
the Transfer Date with respect to the Monthly Period which commences four
months prior to the commencement of the Controlled Accumulation Period.

          "Accumulation Period Reserve Account Surplus" shall mean, with
respect to any date of determination, the amount by which the amount on
deposit in the Accumulation Period Reserve Account exceeds the Required
Accumulation Period Reserve Account Amount.

          "Accumulation Period Reserve Draw Amount" shall have the meaning
specified in subsection 4.14(c).

          "Accumulation Shortfall" shall initially mean zero and shall
thereafter mean, with respect to any Monthly Period during the Controlled
Accumulation Period, the excess, if any, of the Controlled Deposit Amount for
the previous Monthly Period over the amount deposited into the Principal
Funding Account pursuant to subsection 4.9(c)(i) with respect to the
Certificates for the previous Monthly Period.

                                       2

<PAGE>

          "Adjusted Investor Interest" shall mean, with respect to any date of
determination, an amount equal to the Investor Interest as of such date minus
the Principal Funding Account Balance as of such date.

          "Aggregate Investor Default Amount" shall mean, with respect to any
Monthly Period, the sum of the Investor Default Amounts in respect of such
Monthly Period.

          "Assignee" shall have the meaning specified in subsection 16(a).

          "Available Accumulation Period Reserve Account Amount" shall mean,
with respect to any Transfer Date, the lesser of (a) the amount on deposit in
the Accumulation Period Reserve Account on such date (after taking into
account any interest and earnings retained in the Accumulation Period Reserve
Account pursuant to subsection 4.14(b) on such date, but before giving effect
to any deposit made or to be made in the Accumulation Period Reserve Account
on such date) and (b) the Required Accumulation Period Reserve Account Amount.

          "Available Investor Finance Charge Collections" shall mean, with
respect to any Monthly Period, an amount equal to the sum of (a) the Floating
Allocation of the Collections of Finance Charge Receivables allocated to the
Investor Certificates and deposited in the Finance Charge Account for such
Monthly Period (or to be deposited in the Finance Charge Account on the
related Transfer Date with respect to the preceding Monthly Period pursuant to
the third paragraph of subsection 4.3(a) and Section 2.8 of the Agreement and
subsection 3(b) of this Series Supplement), excluding the portion of
Collections of Finance Charge Receivables attributable to Servicer
Interchange, (b) with respect to any Monthly Period during the Controlled
Accumulation Period prior to the payment in full of the Investor Interest, the
Principal Funding Investment Proceeds arising pursuant to subsection 4.13(b),
if any, with respect to the related Transfer Date and (c) the Accumulation
Period Reserve Draw Amount (up to the Available Accumulation Period Reserve
Account Amount) plus any amounts of interest and earnings described in
subsections 4.14(b), 4.14(c) and 4.14(d) which will be deposited into the
Finance Charge Account on the related Transfer Date.

          "Available Investor Principal Collections" shall mean with respect
to any Monthly Period, an amount equal to (a) the Investor Principal
Collections for such Monthly Period, minus (b) the amount of Reallocated
Principal Collections with respect to such Monthly Period which pursuant to
Section 4.11 are required to fund the Class A Note Interest Requirement, the
Class B Note Interest Requirement and the Net Investor Servicing Fee, plus (c)
the amount of Shared Principal Collections with respect to other Series that
are allocated to Series 2003-5 in accordance with subsection 4.12(b).

          "Base Rate" shall mean, with respect to any Monthly Period, the
annualized percentage equivalent of a fraction, the numerator of which is
equal to the sum of the Class A Note Interest Requirement, the Class B Note
Interest Requirement and the Net Class C Note Interest Requirement, each for
the related Note Interest Period, and the Investor Servicing Fee with respect
to such Monthly Period and the denominator of which is the Investor Interest
as of the close of business on the last day of such Monthly Period; provided,
however, that with respect to the August 2003, September 2003 and October 2003
Monthly Periods, Base Rate shall

                                       3

<PAGE>

mean the sum of (i) the weighted average of the Class A Note Interest Rate,
the Class B Note Interest Rae and the Class C Note Interest Rate and (ii) 2%;
provided that the Class A Note Interest Rate, the Class B Note Interest Rate
and the Class C Note Interest Rate shall be determined based on LIBOR as
calculated for the related Interest Periods pursuant to Series 2003-1
Supplement to the Agreement plus (x) in the case of the Class A Note Interest
Rate, 0.12% per annum, (y) in the case of the Class B Note Interest Rate,
0.33% per annum and (z) in the case of the Class C Note Interest Rate, 0.92%
per annum.

          "Certificateholders" shall mean the Persons in whose names the
Series 2003-5 Certificates are registered in the Certificate Register.

          "Certificate Reassignment Date" shall mean the date on which the
Investor Certificates are retransferred to the Transferor in accordance with
the terms specified in Section 4 of this Series Supplement and subsection
12.2(a) of the Agreement.

          "Certificates" shall mean the certificates executed by the
Transferor and authenticated by or on behalf of the Trustee, substantially in
the form of Exhibit A hereto.

          "Class A Note Interest Requirement" shall have the meaning set forth
in the Indenture.

          "Class B Note Interest Requirement" shall have the meaning set forth
in the Indenture.

          "Closing Date" shall mean September 30, 2003.

          "Controlled Accumulation Amount" shall mean (a) for any Transfer
Date with respect to the Controlled Accumulation Period prior to the Scheduled
Principal Allocation Commencement Date, $70,000,000; provided, however, that
if the commencement of the Controlled Accumulation Period is determined to be
less than 12 months pursuant to subsection 4.9(e), the Controlled Accumulation
Amount for each Transfer Date with respect to the Controlled Accumulation
Period prior to the Scheduled Principal Allocation Commencement Date, will be
equal to (x) 84% of the Initial Investor Interest divided by (y) the number of
Monthly Periods in the Controlled Accumulation Period as determined pursuant
to subsection 4.9(e) and (b) for any Transfer Date with respect to the
Controlled Accumulation Period after the Scheduled Principal Allocation
Commencement Date, zero.

          "Controlled Accumulation Period" shall mean, unless a Pay Out Event
shall have occurred prior thereto, the period commencing at the close of
business on August 31, 2007 or such later date as is determined in accordance
with subsection 4.9(e) and ending on the first to occur of (a) the
commencement of the Rapid Amortization Period and (b) the Series 2003-5
Termination Date.

          "Controlled Deposit Amount" shall mean, with respect to any Transfer
Date, the sum of (a) the Controlled Accumulation Amount for such Transfer Date
and (b) any existing Accumulation Shortfall.

                                       4
<PAGE>

          "Covered Amount" shall mean, as of the Transfer Date with respect to
any Interest Period, an amount equal to the product of (a) the actual number
of days in the Interest Period beginning on the Distribution Date preceding
such Transfer Date divided by 360, (b) the Class A Note Interest Rate and (c)
the Principal Funding Account Balance as of the close of business on the
Distribution Date preceding such Transfer Date (after giving effect to all of
the transactions occurring on such date).

          "Cumulative Series Principal Shortfall" shall mean the sum of the
Series Principal Shortfalls (as such term is defined in each of the related
Series Supplements) for each Series.

          "Daily Principal Shortfall" shall mean, on any date of
determination, the excess of the Monthly Principal Payment for the Monthly
Period relating to such date over the month to date amount of Collections
processed in respect of Principal Receivables for such Monthly Period
allocable to investor certificates of all outstanding Series, not subject to
reallocation, which are on deposit or to be deposited in the Principal Account
on such date.

          "Distribution Date" shall mean November 17, 2003 and the fifteenth
day of each calendar month thereafter, or if such fifteenth day is not a
Business Day, the next succeeding Business Day.

          "Excess Principal Funding Investment Proceeds" shall mean, with
respect to each Transfer Date relating to the Controlled Accumulation Period,
the amount, if any, by which the Principal Funding Investment Proceeds for
such Transfer Date exceed the Covered Amount determined on such Transfer Date.

          "Finance Charge Shortfall" shall mean, with respect to any Transfer
Date, the excess, if any, of the amount distributable pursuant to subsections
4.9(a)(i) through (viii) over Available Investor Finance Charge Collections.

          "Fitch" shall mean Fitch, Inc., doing business as Fitch Ratings, and
any successor thereto.

          "Fixed Investor Percentage" shall mean, with respect to any Monthly
Period, the percentage equivalent of a fraction, the numerator of which is the
Investor Interest as of the close of business on the last day of the Revolving
Period and the denominator of which is the greater of (a) the sum of (i) the
aggregate amount of Principal Receivables in the Trust determined as of the
close of business on the last day of the prior Monthly Period and (ii) the
Excess Funding Amount as of the close of business on such last day of the
prior Monthly Period and (b) the sum of the numerators used to calculate the
Investor Percentages (as such term is defined in the Agreement) for
allocations with respect to Principal Receivables for all outstanding Series
on such date of determination; provided, however, that with respect to any
Monthly Period in which an Addition Date occurs or in which a Removal Date
occurs, the amount determined pursuant to clause (a)(i) hereof shall be the
quotient of (A) the sum of (I) the aggregate amount of Principal Receivables
in the Trust as of the close of business on the last day of the prior Monthly
Period multiplied by the actual number of days in the period from and
including the first day of such

                                       5

<PAGE>

Monthly Period to but excluding the related Addition Date or Removal Date and
(II) the aggregate amount of Principal Receivables in the Trust as of the
beginning of the day on the related Addition Date or Removal Date after
adjusting for the aggregate amount of Principal Receivables added to or
removed from the Trust on the related Addition Date or Removal Date,multiplied
by the actual number of days in the period from and including the related
Addition Date or Removal Date to and including the last day of such Monthly
Period divided by (B) the actual number of days in such Monthly Period.

          "Floating Investor Percentage" shall mean, with respect to any
Monthly Period, the percentage equivalent of a fraction, the numerator of
which is the Adjusted Investor Interest as of the close of business on the
last day of the prior Monthly Period (or with respect to the first Monthly
Period, the Initial Investor Interest) and the denominator of which is the
greater of (a) the sum of (i) the aggregate amount of Principal Receivables as
of the close of business on the last day of the prior Monthly Period (or with
respect to the first calendar month in the first Monthly Period, the aggregate
amount of Principal Receivables in the Trust as of the close of business on
the day immediately preceding the Closing Date, and with respect to the second
calendar month in the first Monthly Period, the aggregate amount of Principal
Receivables as of the close of business on the last day of the first calendar
month in the first Monthly Period) and (ii) the Excess Funding Amount as of
the close of business on such last day of the prior Monthly Period and (b) the
sum of the numerators used to calculate the Investor Percentages (as such term
is defined in the Agreement) for allocations with respect to Finance Charge
Receivables, Default Amounts or Principal Receivables, as applicable, for all
outstanding Series on such date of determination; provided, however, that with
respect to any Monthly Period in which an Addition Date occurs or in which a
Removal Date occurs, the amount determined pursuant to clause (a)(i) hereof
shall be the quotient of (A) the sum of (I) the aggregate amount of Principal
Receivables in the Trust as of the close of business on the last day of the
prior Monthly Period multiplied by the actual number of days in the period
from and including the first day of such Monthly Period to but excluding the
related Addition Date or Removal Date and (II) the aggregate amount of
Principal Receivables in the Trust as of the beginning of the day on the
related Addition Date or Removal Date after adjusting for the aggregate amount
of Principal Receivables added to or removed from the Trust on the related
Addition Date or Removal Date, multiplied by the actual number of days in the
period from and including the related Addition Date or Removal Date to and
including the last day of such Monthly Period divided by (B) the actual number
of days in such Monthly Period.

          "Group One" shall mean Series 2003-5 and each other Series specified
in the related Supplement to be included in Group One.

          "Indenture" shall mean that certain agreement, dated as of September
30, 2003 between the Chase Credit Card Owner Trust 2003-5 and The Bank of New
York, as indenture trustee.

          "Initial Investor Interest" shall mean the initial aggregate
principal amount of the Certificates, which is $1,000,000,000.

          "Initial Purchaser" shall have the meaning set forth in subsection
16(c).

                                       6

<PAGE>

          "Interest Period" shall mean, with respect to any Distribution Date,
the period from and including the previous Distribution Date through the day
preceding such Distribution Date, except that the initial Interest Period
shall be the period from and including the Closing Date through the day
preceding the initial Distribution Date.

          "Investor Certificates" shall mean the Series 2003-5 Certificates.

          "Investor Charge-Offs" shall have the meaning specified in Section
4.10.

          "Investor Default Amount" shall mean, with respect to any Receivable
in a Defaulted Account, an amount equal to the product of (a) the Default
Amount and (b) the Floating Investor Percentage on the day such Account became
a Defaulted Account.

          "Investor Interest" shall mean, on any date of determination, an
amount equal to (a) the Initial Investor Interest, minus (b) the aggregate
amount of principal payments made to the Certificates prior to such date and
minus (c) the aggregate amount of Investor Charge-Offs pursuant to Section
4.10 and Reallocated Principal Collections pursuant to Section 4.11 plus (d)
the aggregate amount of Available Investor Finance Charge Collections
allocated and available on all prior Transfer Dates pursuant to subsection
4.9(a)(vi) for the purpose of reimbursing the amount of any reduction pursuant
to clause (c); provided, however, that the Investor Interest may not be
reduced below zero.

          "Investor Percentage" shall mean for any Monthly Period, (a) with
respect to Collections of Finance Charge Receivables and Default Amounts at
any time and Collections of Principal Receivables during the Revolving Period,
the Floating Investor Percentage and (b) with respect to Collections of
Principal Receivables during the Controlled Accumulation Period or the Rapid
Amortization Period, the Fixed Investor Percentage.

          "Investor Principal Collections" shall mean, with respect to any
Monthly Period, the sum of (a) the aggregate amount deposited into the
Principal Account for such Monthly Period pursuant to subsections 4.5(a)(ii),
4.5(b)(ii), or 4.5(c)(ii), in each case, as applicable to such Monthly Period
and (b) the aggregate amount to be treated as Investor Principal Collections
pursuant to subsections 4.9(a)(v) and (vi) for such Monthly Period (other than
such amount paid from Reallocated Principal Collections).

          "Investor Servicing Fee" shall have the meaning specified in
subsection 3(a) hereof.

          "Minimum Transferor Interest Percentage" shall mean 7%.

          "Monthly Period" shall have the meaning specified in the Agreement,
except that the first Monthly Period with respect to the Investor Certificates
shall begin on and include the Closing Date and shall end on and include
October 31, 2003; provided, however, that for purposes of the definitions of
the Base Rate and Portfolio Yield, the August 2003, September 2003 and October
2003 Monthly Periods shall mean the respective calender months.

                                       7

<PAGE>

          "Monthly Principal Payment" shall mean with respect to any Monthly
Period, for all Series (including Series 2003-5) which are in an Amortization
Period or Accumulation Period(as such terms are defined in the related
Supplements for all Series), the sum of (a) the Controlled Distribution Amount
for the related Transfer Date for any Series in its Controlled Amortization
Period (as such terms are defined in the related Supplements for all Series),
(b) the Controlled Deposit Amount for the related Transfer Date for any Series
in its Accumulation Period, other than its Rapid Accumulation Period, if
applicable (as such terms are defined in the related Supplements for all
Series), (c) the Investor Interest as of the end of the prior Monthly Period
taking into effect any payments to be made on the following Distribution Date
for any Series in its Principal Amortization Period or Rapid Amortization
Period (as such terms are defined in the related Supplements for all Series),
(d) the Adjusted Investor Interest as of the end of the prior Monthly Period
taking into effect any payments or deposits to be made on the following
Transfer Date and Distribution Date for any Series in its Rapid Accumulation
Period (as such terms are defined in the related Supplements for all Series),
and (e) such other amounts as may be specified in the related Supplements for
all Series.

          "Monthly Principal Reallocation Amount" shall mean with respect to
any Monthly Period an amount equal to the sum of (A) the lower of (i) the
excess of the Class A Note Interest Requirement over the Available Investor
Finance Charge Collections allocated with respect thereto pursuant to
subsection 4.9(a)(i) and (ii) the greater of (a) (x) the product of (I) 16%
and (II) the Initial Investor Interest minus (y) the amount of unreimbursed
Investor Charge-Offs (after giving effect to Investor Charge-Offs for the
related Monthly Period) and unreimbursed Reallocated Principal Collections (as
of the previous Distribution Date) and (b) zero; and (B) the lower of (i) the
excess of the Class B Note Interest Requirement and the Net Investor Servicing
Fee over the Available Investor Finance Charge Collections allocated with
respect thereto pursuant to subsections 4.9(a)(i) and 4.9(a)(ii) and (ii) the
greater of (a) the product of (I) 9% and (II) the Initial Investor Interest
minus the amount of unreimbursed Investor Charge-Offs (after giving effect to
Investor Charge-Offs for the related Monthly Period) and unreimbursed
Reallocated Principal Collections as of the previous Distribution Date) and
(b) zero.

          "Net Class C Note Interest Requirement" shall have the meaning set
forth in the Indenture.

          "Net Investor Servicing Fee" shall mean that portion of the Investor
Servicing Fee allocable to the Series 2003-5 Certificates with respect to any
Transfer Date.

          "Net Servicing Fee Rate" shall mean 1.0% per annum.

          "Note Interest Period" shall have the meaning set forth in the
Indenture.

          "Note Interest Requirement" shall have the meaning set forth in
subsection 4.6(a).

          "Owner Trust Spread Account" shall have the meaning set forth in the
Indenture.

                                       8

<PAGE>

          "Pay Out Commencement Date" shall mean the date on which a Trust Pay
Out Event is deemed to occur pursuant to Section 9.1 or a Series 2003-5 Pay
Out Event is deemed to occur pursuant to Section 9 hereof.

          "Portfolio Adjusted Yield" shall mean, with respect to any Transfer
Date, the average of the percentages obtained for each of the three preceding
Monthly Periods by subtracting the Base Rate from the Portfolio Yield for such
Monthly Period and deducting 0.5% from the result for each Monthly Period.

          "Portfolio Yield" shall mean, with respect to any Monthly Period,
the annualized percentage equivalent of a fraction, the numerator of which is
an amount equal to the sum of (a) the amount of Collections of Finance Charge
Receivables deposited into the Finance Charge Account and allocable to the
Investor Certificates for such Monthly Period, (b) the Principal Funding
Investment Proceeds deposited into the Finance Charge Account on the Transfer
Date related to such Monthly Period and (c) the amount of the Accumulation
Period Reserve Draw Amount (up to the Available Accumulation Period Reserve
Account Amount) plus any amounts of interest and earnings described in
subsections 4.14(b), 4.14(c) and 4.14(d), each deposited into the Finance
Charge Account on the Transfer Date relating to such Monthly Period, such sum
to be calculated on a cash basis after subtracting the Investor Default Amount
for such Monthly Period, and the denominator of which is the Investor Interest
as of the close of business on the last day of such Monthly Period; provided,
however, that with respect to the August 2003, September 2003 and October 2003
Monthly Periods, Portfolio Yield shall mean "Portfolio Yield" as calculated in
accordance with the definition thereof in the Series 2003-3 Supplement to the
Agreement.

          "Principal Funding Account" shall have the meaning set forth in
subsection 4.13(a).

          "Principal Funding Account Balance" shall mean, with respect to any
date of determination, the principal amount, if any, on deposit in the
Principal Funding Account on such date of determination.

          "Principal Funding Investment Proceeds" shall mean, with respect to
each Transfer Date, the investment earnings on funds in the Principal Funding
Account (net of investment expenses and losses) for the period from and
including the immediately preceding Transfer Date to but excluding such
Transfer Date.

          "Principal Funding Investment Shortfall" shall mean, with respect to
each Transfer Date relating to the Controlled Accumulation Period, the amount,
if any, by which the Principal Funding Investment Proceeds for such Transfer
Date are less than the Covered Amount determined as of such Transfer Date.

          "Rapid Amortization Period" shall mean the Amortization Period
commencing on the Pay Out Commencement Date and ending on the earlier to occur
of (a) the Series 2003-5 Termination Date and (b) the termination of the Trust
pursuant to Section 12.1.

                                       9

<PAGE>

          "Rating Agency" shall mean Moody's, Standard & Poor's and Fitch.

          "Rating Agency Condition" shall mean, with respect to Series 2003-5,
the written confirmation of the Rating Agency that a specified event or
modification of the terms of Series 2003-5 will not result in the withdrawal
or downgrade of the rating of any class of the Asset Backed Notes of Chase
Credit Card Owner Trust 2003-5 then in effect.

          "Reallocated Principal Collections" shall mean with respect to any
Transfer Date, Investor Principal Collections applied in accordance with
Section 4.11 in an amount not to exceed the lesser of the Monthly Principal
Reallocation Amount for the related Monthly Period and the Investor Interest
after giving effect to any Investor Charge-Offs for such Transfer Date.

          "Required Accumulation Factor Number" shall be equal to a fraction,
rounded upwards to the nearest whole number, the numerator of which is one and
the denominator of which is equal to the lowest monthly principal payment rate
on the Accounts, expressed as a decimal, for the 12 months preceding the date
of such calculation.

          "Required Accumulation Period Reserve Account Amount" shall mean,
with respect to any Transfer Date on or after the Accumulation Period Reserve
Account Funding Date, an amount equal to the product of (i) 84.0%, (ii) the
Initial Investor Interest and (iii) 0.5%; provided, however, that (i) if the
Accumulation Period Length is one month and the Transferor has provided the
Servicer and the Trustee with evidence that the Rating Agency Condition has
been satisfied, the Required Accumulation Period Reserve Account Amount shall
be zero (0), (ii) if the Accumulation Period Length is two months and the
Transferor has provided the Servicer and the Trustee with evidence that the
Rating Agency Condition has been satisfied, the Required Accumulation Period
Reserve Account Amount shall be equal to the product of (I) 84.0%, (II) the
Initial Investor Interest and (III) 0.25%, (iii) if the Accumulation Period
Length is four or five months, the Required Accumulation Period Reserve
Account Amount shall be equal to the product of (I) 84.0%, (II) the Initial
Investor Interest and (III) 0.75%, and (iv) if the Accumulation Period Length
is six or more months, the Required Accumulation Period Reserve Account Amount
shall be equal to the product of (I) 84.0%, (II) the Initial Investor Interest
and (III) 1.00%.

          "Required Amount" shall have the meaning set forth in Section 4.8.

          "Required Owner Trust Spread Account Amount" shall have the meaning
set forth in the Indenture.

          "Revolving Period" shall mean the period from and including the
Closing Date to, but not including, the earlier of (a) the day the Controlled
Accumulation Period commences and (b) the Pay Out Commencement Date.

          "Scheduled Principal Allocation Commencement Date" shall mean the
September 2008 Distribution Date.

                                      10

<PAGE>

          "Series 2003-5" shall mean the Series of the Chase Credit Card
Master Trust represented by the Investor Certificates.

          "Series 2003-5 Pay Out Event" shall have the meaning specified in
Section 9 hereof.

          "Series 2003-5 Termination Date" shall mean the earliest to occur of
(a) the Distribution Date on which the Investor Interest is paid in full, (b)
the January 2011 Distribution Date and (c) the Trust Termination Date.

          "Series Principal Shortfall" shall mean with respect to any Transfer
Date, the excess, if any, of (a) (i) with respect to any Transfer Date
relating to the Controlled Accumulation Period, the Controlled Deposit Amount
for such Transfer Date, and (ii) with respect to any Transfer Date during the
Rapid Amortization Period, the Adjusted Investor Interest over (b) the
Investor Principal Collections minus the Reallocated Principal Collections for
such Transfer Date.

          "Series Servicing Fee Percentage" shall mean 2.0%.

          "Servicer Interchange" shall mean, for any Monthly Period, the
portion of Collections of Finance Charge Receivables allocated to the Investor
Certificates and deposited in the Finance Charge Account with respect to such
Monthly Period that is attributable to Interchange; provided, however, that
Servicer Interchange for a Monthly Period shall not exceed one-twelfth of the
product of (i) the Adjusted Investor Interest as of the last day of such
Monthly Period and (ii) 1.00%.

          "Shared Excess Finance Charge Collections" shall mean, with respect
to any Distribution Date, as the context requires, either (x) the amount
described in subsection 4.9(a)(ix) allocated to the Series 2003-5 Certificates
but available to cover shortfalls in amounts paid from Collections of Finance
Charge Receivables for other Series, if any or (y) the aggregate amount of
Collections of Finance Charge Receivables allocable to other Series in excess
of the amounts necessary to make required payments with respect to such
Series, if any, and available to cover shortfalls with respect to the Investor
Certificates.

          "Shared Principal Collections" shall mean either (a) the amount
allocated to the Investor Certificates which may be applied to the Series
Principal Shortfall with respect to other outstanding Series or (b) the
amounts allocated to the investor certificates of other Series which the
applicable Supplements for such Series specify are to be treated as "Shared
Principal Collections" and which may be applied to cover the Series Principal
Shortfall with respect to the Investor Certificates.

          "Targeted Holder" shall mean each holder of a right to receive
interest or principal with respect to the Investor Certificates (or other
interests in the Trust), other than certificates (or other such interests)
with respect to which an opinion is rendered that such certificates (or other
such interests) will be treated as debt for federal income tax purposes, and
any holder of a right to receive any amount in respect of the Transferor
Interest; provided, that any Person holding more

                                      11

<PAGE>

than one interest each of which would cause such Person to be a Targeted
Holder shall be treated as a single Targeted Holder.

          "Transfer" shall have the meaning specified in subsection 16(a).

          SECTION 3. Servicing Compensation and Assignment of Interchange.

          (a) The share of the Servicing Fee allocable to Series 2003-5 with
respect to any Transfer Date (the "Investor Servicing Fee") shall be equal to
one-twelfth of the product of (i) the Series Servicing Fee Percentage and (ii)
the Adjusted Investor Interest as of the last day of the Monthly Period
preceding such Transfer Date; provided, however, that with respect to the
first Transfer Date, the Investor Servicing Fee shall be equal to the product
of (i) a fraction, the numerator of which is the number of days from and
including the Closing Date to and including the last day of the October 2003
Monthly Period and the denominator of which is 360, (ii) 2.0% and (iii) the
Initial Investor Interest on the Closing Date. On each Transfer Date a portion
of Interchange with respect to the related Monthly Period that is on deposit
in the Finance Charge Account shall be withdrawn from the Finance Charge
Account and paid to the Servicer in payment of a portion of the Investor
Servicing Fee with respect to such Monthly Period ("Servicer Interchange").
Should the Servicer Interchange on deposit in the Finance Charge Account on
any Transfer Date with respect to the related Monthly Period be less than
one-twelfth of 1.00% of the Adjusted Investor Interest as of the last day of
such Monthly Period, the Investor Servicing Fee with respect to such Monthly
Period will not be paid to the extent of such insufficiency of Servicer
Interchange on deposit in the Finance Charge Account. The share of the
Investor Servicing Fee allocable to the Certificateholders with respect to any
Transfer Date (the "Net Investor Servicing Fee") shall be equal to one-twelfth
of the product of (i) the Net Servicing Fee Rate and (ii) the Adjusted
Investor Interest as of the last day of the Monthly Period preceding such
Transfer Date; provided, however, that with respect to the first Transfer
Date, the Net Investor Servicing Fee shall be equal to the product of (i) a
fraction, the numerator of which is the number of days from and including the
Closing Date to and including the last day of the October 2003 Monthly Period
and the denominator of which is 360, (ii) the Net Servicing Fee Rate and (iii)
the Investor Interest on the Closing Date. Except as specifically provided
above, the Servicing Fee shall be paid by the cash flows from the Trust
allocated to the Transferor or the certificateholders of other Series (as
provided in the related Supplements) and in no event shall the Trust, the
Trustee or the Certificateholders be liable therefor. The Net Investor
Servicing Fee shall be payable to the Servicer solely to the extent amounts
are available for distribution in respect thereof pursuant to subsection
4.9(a)(iii).

          (b) On or before each Transfer Date, the Transferor shall notify the
Servicer of the amount of Interchange to be included as Collections of Finance
Charge Receivables and allocable to the Certificateholders with respect to the
preceding Monthly Period as determined pursuant to this subsection 3(b). Such
amount of Interchange shall be equal to the product of (i) the aggregate
amount of Interchange with respect to such Monthly Period and (ii) the
Investor Percentage with respect to Finance Charge Receivables for such
Monthly Period. On each Transfer Date, the Transferor shall pay to the
Servicer, and the Servicer shall deposit into the Finance Charge Account, in
immediately available funds, the amount of Interchange to be so

                                      12

<PAGE>

included as Collections of Finance Charge Receivables allocable to the
Investor Certificates with respect to the preceding Monthly Period.

          SECTION 4. Reassignment and Transfer Terms.

          The Investor Certificates shall be subject to retransfer to the
Transferor at its option, in accordance with the terms specified in subsection
12.2(a), on any Distribution Date on or after the Distribution Date on which
the Investor Interest is reduced to an amount less than or equal to 5% of the
Initial Investor Interest. The deposit required in connection with any such
repurchase shall include the amount, if any, on deposit in the Principal
Funding Account and will be equal to the sum of (a) the Investor Interest and
(b) accrued and unpaid interest on the Investor Certificates through the day
preceding the Distribution Date on which the repurchase occurs.

          SECTION 5. Delivery and Payment for the Investor Certificates.

          The Transferor shall execute and deliver the Series 2003-5
Certificates to the Trustee for authentication in accordance with Section 6.1.
The Trustee shall deliver such Certificates when authenticated in accordance
with Section 6.2.

          SECTION 6. Form of Delivery of Investor Certificates.

          The Certificates shall be delivered as Registered Certificates as
provided in Section 7.1.

          SECTION 7. Article IV of Agreement.

          Sections 4.1, 4.2 and 4.3 shall be read in their entirety as
provided in the Agree ment. Article IV (except for Sections 4.1, 4.2 and 4.3
thereof) shall be read in its entirety as follows and shall be applicable only
to the Investor Certificates:

                                  ARTICLE IV

                     RIGHTS OF THE CERTIFICATEHOLDERS AND
                   ALLOCATION AND APPLICATION OF COLLECTIONS

          SECTION 4.4 Rights of the Certificateholders.

          The Investor Certificates shall represent undivided interests in the
Trust, consist ing of the right to receive, to the extent necessary to make
the required payments with respect to such Investor Certificates at the times
and in the amounts specified in this Agreement, (a) the Floating Investor
Percentage and Fixed Investor Percentage (as applicable from time to time) of
Collections received with respect to the Receivables and (b) funds on deposit
in the Collection Account, the Finance Charge Account, the Excess Funding
Account, the Principal

                                      13

<PAGE>

Account, the Principal Funding Account, the Accumulation Period Reserve
Account and the Distribution Account. The Transferor Certificate shall not
represent any interest in the Collection Account, the Finance Charge Account,
the Principal Account, the Excess Funding Account, the Principal Funding
Account, the Accumulation Period Reserve Account or the Distribution Account,
except as specifically provided in this Article IV.

          SECTION 4.5 Allocations.

          (a) Allocations During the Revolving Period. During the Revolving
Period, the Servicer shall, prior to the close of business on the day any
Collections are deposited in the Collection Account, allocate to the
Certificateholders or the Holder of the Transferor Certificate and pay or
deposit from the Collection Account the following amounts as set forth below:

          (i) Deposit into the Finance Charge Account an amount equal to the
     product of (A) the Investor Percentage on the Date of Processing of such
     Collections and (B) the aggregate amount of Collections processed in
     respect of Finance Charge Receiv ables on such Date of Processing to be
     applied in accordance with Section 4.9.

          (ii) (A) Deposit into the Principal Account an amount equal to the
     product of (1) the Investor Percentage on the Date of Processing of such
     Collections and (2) the aggregate amount of Collections processed in
     respect of Principal Receivables on such Date of Processing; provided,
     however, that the amount deposited into the Principal Account pursuant to
     this subsection 4.5(a)(ii)(A) shall not exceed the Daily Principal
     Shortfall, and (B) pay to the Holder of the Transferor Certificate an
     amount equal to the excess, if any, identified in the proviso to clause
     (A) above; provided, however, that the amount to be paid to the Holder of
     the Transferor Certificate pursuant to this subsection 4.5(a)(ii)(B) with
     respect to any Date of Processing shall be paid to the Holder of the
     Transferor Certificate only if the Transferor Interest on such Date of
     Processing is greater than the Minimum Transferor Interest (after giving
     effect to the inclusion in the Trust of all Receivables created on or
     prior to such Date of Processing and the application of payments referred
     to in subsection 4.3(b)) and otherwise shall be deposited into the Excess
     Funding Account.

          (b) Allocations During the Controlled Accumulation Period. During
the Controlled Accumulation Period, the Servicer shall, prior to the close of
business on the day any Collections are deposited in the Collection Account,
allocate to the Certificateholders or the Holder of the Transferor Certificate
and pay or deposit from the Collection Account the following amounts as set
forth below:

          (i) Deposit into the Finance Charge Account an amount equal to the
     product of (A) the Investor Percentage on the Date of Processing of such
     Collections and (B) the aggregate amount of Collections processed in
     respect of Finance Charge Receiv ables on such Date of Processing to be
     applied in accordance with Section 4.9.

          (ii) (A) Deposit into the Principal Account an amount equal to the
     product of (1) the Investor Percentage on the Date of Processing of such
     Collections and

                                      14

<PAGE>

     (2) the aggregate amount of Collections processed in respect of Principal
     Receivables on such Date of Processing; provided, however, that the
     amount deposited into the Principal Account pursuant to this subsection
     4.5(b)(ii)(A) shall not exceed the Daily Principal Shortfall, and (B) pay
     to the Holder of the Transferor Certificate an amount equal to the
     excess, if any, identified in the proviso to clause (A) above; provided,
     however, that the amount to be paid to the Holder of the Transferor
     Certificate pursuant to this subsection 4.5(b)(ii)(B) with respect to any
     Date of Processing shall be paid to the Holder of the Transferor
     Certificate only if the Transferor Interest on such Date of Processing is
     greater than the Minimum Transferor Interest (after giving effect to the
     inclusion in the Trust of all Receivables created on or prior to such
     Date of Processing and the application of payments referred to in
     subsection 4.3(b)) and otherwise shall be deposited into the Excess
     Funding Account.

          (c) Allocations During the Rapid Amortization Period. During the
Rapid Amortization Period, the Servicer shall, prior to the close of business
on the day any Collections are deposited in the Collection Account, allocate
to the Certificateholders and pay or deposit from the Collection Account the
following amounts as set forth below:

          (i) Deposit into the Finance Charge Account an amount equal to the
     product of (A) the Investor Percentage on the Date of Processing of such
     Collections and (B) the aggregate amount of Collections processed in
     respect of Finance Charge Receiv ables on such Date of Processing to be
     applied in accordance with Section 4.9.

          (ii) (A) Deposit into the Principal Account an amount equal to the
     product of (1) the Investor Percentage on the Date of Processing of such
     Collections and (2) the aggregate amount of Collections processed in
     respect of Principal Receivables on such Date of Processing; provided,
     however, that the amount deposited into the Principal Account pursuant to
     this subsection 4.5(c)(ii)(A) shall not exceed the sum of the Investor
     Interest as of the close of business on the last day of the prior Monthly
     Period (after taking into account any payments to be made on the
     Distribution Date relating to such prior Monthly Period and deposits and
     any adjustments to be made to the Investor Interest to be made on the
     Transfer Date relating to such Monthly Period) and any Reallocated
     Principal Collections relating to the Monthly Period in which such
     deposit is made and (B) pay to the Holder of the Transferor Certificate
     an amount equal to the excess, if any, identified in the proviso to
     clause (A) above; provided, however, that the amount to be paid to the
     Holder of the Transferor Certificate pursuant to this subsection
     4.5(c)(ii)(B) with respect to any Date of Processing shall be paid to the
     Holder of the Transferor Certificate only if the Transferor Interest on
     such Date of Processing is greater than the Minimum Transferor Interest
     (after giving effect to the inclusion in the Trust of all Receivables
     created on or prior to such Date of Processing and the application of
     payments referred to in subsection 4.3(b)) and otherwise shall be
     deposited into the Excess Funding Account.

          (d) Limitation on Required Deposits. With respect to the Investor
Certifi cates, and notwithstanding anything in the Agreement or this Series
Supplement to the contrary, whether or not the Servicer is required to make
monthly or daily deposits from the

                                      15

<PAGE>

Collection Account into the Finance Charge Account or the Principal Account
pursuant to subsections 4.5(a), 4.5(b) and 4.5(c), with respect to any Monthly
Period (i) the Servicer will only be required to deposit Collections from the
Collection Account into the Finance Charge Account or the Principal Account in
an amount equal to the lesser of (x) the amount required to be deposited into
any such deposit account pursuant to subsection 4.5(a), 4.5(b) or 4.5(c) and
(y) the amount required to be distributed on or prior to the related
Distribution Date to the Certificateholders, and (ii) if at any time prior to
such Distribution Date the amount of Collections deposited in the Collection
Account exceeds the amount required to be deposited pursuant to clause (i)
above, the Servicer shall withdraw the excess from the Collection Account. To
the extent that, in accor dance with this subsection 4.5(d), the Servicer has
retained amounts which would otherwise be required to be deposited in the
Finance Charge Account or the Principal Account with respect to any Monthly
Period, the Servicer shall be required to deposit such amounts in the Finance
Charge Account or the Principal Account on the related Transfer Date to the
extent necessary to make required distributions to the Certificateholders on
the related Distribution Date, including any amounts which are required to be
applied as Reallocated Principal Collections.

          For so long as the Servicer shall (i) satisfy the conditions
specified in the third paragraph of subsection 4.3(a) of the Agreement and
(ii) be making deposits to the Principal Account and Finance Charge Account on
a monthly basis, all requirements herein to deposit amounts on a daily basis
shall be deemed to be satisfied to the extent that the required monthly
deposit is made and all references to amounts on deposit in such accounts
shall be deemed to include amounts which would otherwise have been deposited
therein on a daily basis.

          SECTION 4.6 Determination of Required Monthly Interest Payment.

          The amount of monthly interest distributable to the Series
Certificates shall be an amount equal to the sum of the Class A Note Interest
Requirement, the Class B Note Interest Requirement and the Net Class C Note
Interest Requirement (collectively, the "Note Interest Requirement");
provided, however, that with respect to the first Distribution Date, each of
the Class A Note Interest Requirement, the Class B Note Interest Requirement
and the Net Class C Note Interest Requirement will include accrued interest at
the applicable Note Interest Rate from the Closing Date through November 16,
2003.

          SECTION 4.7 Determination of Monthly Principal Payments.

          The amount of monthly principal distributable from the Principal
Account with respect to the Investor Certificates on each Transfer Date,
beginning with the Transfer Date in the month following the month in which the
Controlled Accumulation Period or, if earlier, the Rapid Amortization Period,
begins, shall be equal to the least of (i) the Available Investor Principal
Collections on deposit in the Principal Account with respect to such Transfer
Date, (ii) for each Transfer Date with respect to the Controlled Accumulation
Period, the Controlled Deposit Amount for such Transfer Date and (iii) the
Adjusted Investor Interest on such Transfer Date prior to any deposit into the
Principal Funding Account to be made on such day.

          SECTION 4.8 Coverage of Required Amount.

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<PAGE>

          On or before each Transfer Date, the Servicer will determine the
amount (the "Required Amount") by which (A) the sum of (i) the Class A Note
Interest Requirement, (ii) the Class B Note Interest Requirement and (iii) the
Net Class C Note Interest Requirement plus (B) the Net Investor Servicing Fee
for the prior Monthly Period plus (C) the Net Investor Servicing Fee, if any,
due but not paid on any prior Transfer Date plus, (D) the Investor Default
Amount for the prior Monthly Period, if any, exceeds the amount of Available
Investor Finance Charge Collections for such Monthly Period. In the event the
Required Amount is greater than zero, the Servicer shall give written notice
to the Trustee of such positive Required Amount for such Transfer Date and all
or a portion of the Shared Excess Finance Charge Collections allocable to
Series 2003-5 with respect to such Transfer Date in an amount equal to the
Required Amount, to the extent available, for such Transfer Date shall be
distributed from the Finance Charge Account on such Transfer Date in
accordance with the priority of payments set forth in subsection 4.9(a).

          SECTION 4.9 Monthly Payments.

          On or before each Transfer Date, the Servicer shall instruct the
Trustee and the Paying Agent in writing (which writing shall be substantially
in the form of Exhibit B hereto) to withdraw and the Trustee, acting in
accordance with such instructions, shall withdraw on such Transfer Date or the
related Distribution Date, as applicable, to the extent of available funds,
the amounts required to be withdrawn from the Finance Charge Account, the
Principal Account, the Principal Funding Account and the Distribution Account
as follows:

          (a) An amount equal to the Available Investor Finance Charge
Collections for the related Monthly Period shall be distributed on each
Transfer Date in the following priority:

          (i) an amount equal to Class A Note Interest Requirement for the
     related Transfer Date, shall be distributed by the Servicer or the
     Trustee to the Certificateholders;

          (ii) an amount equal the Class B Note Interest Requirement for the
     related Transfer Date shall be distributed by the Servicer or the Trustee
     to the Certificateholders;

          (iii) an amount equal to the Net Investor Servicing Fee for such
     Transfer Date plus the amount of any Net Investor Servicing Fee due but
     not paid to the Servicer on any prior Transfer Date shall be distributed
     to the Servicer;

          (iv) an amount equal to the Net Class C Note Interest Requirement
     for the related Transfer Date, shall be distributed by the Servicer or
     the Trustee to the Certificateholders;

          (v) an amount equal to the Investor Default Amount, if any, for the
     preceding Monthly Period shall be treated as a portion of Available
     Investor Principal Collections and deposited into the Principal Account
     on such Transfer Date;

                                      17

<PAGE>

          (vi) an amount equal to the aggregate amount by which the Investor
     Interest has been reduced below the Initial Investor Interest for reasons
     other than the payment of principal to the Certificateholders (but not in
     excess of the aggregate amount of such reductions which have not been
     previously reimbursed) shall be deposited in the Principal Account on
     such Transfer Date and treated as a portion of Available Investor
     Principal Collections;

          (vii) on and after the Accumulation Period Reserve Account Funding
     Date, but prior to the date on which the Accumulation Period Reserve
     Account terminates, the Trustee will deposit an amount up to the excess,
     if any, of the Required Accumulation Period Reserve Account Amount over
     the Available Accumulation Period Reserve Account Amount into the
     Accumulation Period Reserve Account;

          (viii) an amount equal to the excess, if any, of the Required Owner
     Trust Spread Account Amount over the amount then on deposit in the Owner
     Trust Spread Account will be paid to the Certificateholders; and

          (ix) the balance, after payments made pursuant to clauses (i)
     through (viii) above, first will be treated as Excess Finance Charge
     Collections which will be available to cover shortfalls, if any, in
     amounts payable from collections of Finance Charge Receivables with
     respect to other Series in accordance with the Agreement, and then the
     balance, if any, remaining after any such sharing will be paid to the
     Certificateholders.

          To the extent of the Finance Charge Shortfall, if any, following the
application on each Transfer Date of Available Investor Finance Charge
Collections as described above, the Servicer shall instruct the Trustee and
any Paying Agent in writing (which writing shall be substantially in the form
of Exhibit B hereto) to apply Shared Excess Finance Charge Collections with
respect to Group One allocable to Series 2003-5 in the priority set forth
above.

          (b) During the Revolving Period, an amount equal to the Available
Investor Principal Collections deposited into the Principal Account for the
related Monthly Period shall be distributed on each Transfer Date in the
following priority:

          (i) an amount equal to the lesser of (A) the product of (1) a
     fraction, the numerator of which is equal to the Available Investor
     Principal Collections and the denominator of which is equal to the sum of
     the Available Investor Principal Collections available for sharing as
     specified in the related Supplement for each Series and (2) the
     Cumulative Series Principal Shortfall and (B) Available Investor
     Principal Collections, shall remain in the Principal Account to be
     treated as Shared Principal Collections and applied to Series other than
     this Series 2003-5; and

          (ii) an amount equal to the excess, if any, of (A) the Available
     Investor Principal Collections for such Transfer Date over (B) the
     applications specified in subsection 4.9(b)(i) above shall be paid to the
     Holder of the Transferor Certificate; provided, however, that the amount
     to be paid to the Holder of the Transferor Certificate

                                      18

<PAGE>

     pursuant to this subsection 4.9(b)(ii) with respect to such Transfer Date
     shall be paid to the Holder of the Transferor Certificate only if the
     Transferor Interest on such Date of Processing is greater than the
     Minimum Transferor Interest (after giving effect to the inclusion in the
     Trust of all Receivables created on or prior to such Transfer Date and
     the application of payments referred to in subsection 4.3(b)) and
     otherwise deposited into the Excess Funding Account.

          (c) During the Controlled Accumulation Period or the Rapid
Amortization Period, an amount equal to the Available Investor Principal
Collections deposited into the Principal Account for the related Monthly
Period shall be distributed on each Transfer Date in the following priority:

          (i) an amount equal to the least of (i) the Available Investor
     Principal Collections on deposit in the Principal Account with respect to
     such Transfer Date, (ii) for each Transfer Date with respect to the
     Controlled Accumulation Period, the applicable Controlled Deposit Amount
     for such Transfer Date and (iii) the Adjusted Investor Interest prior to
     any deposits on such Transfer Date, shall be (A) during the Controlled
     Accumulation Period, deposited into the Principal Funding Account, and
     (B) during the Rapid Amortization Period paid to the Certificateholders;
     and

          (ii) an amount equal to the lesser of (A) the product of (1) a
     fraction, the numerator of which is equal to the Available Investor
     Principal Collections remaining after the application specified in
     subsection 4.9(c)(i) above and the denominator of which is equal to the
     sum of the Available Investor Principal Collections available for sharing
     as specified in the related Supplement for each Series and (2) the
     Cumulative Series Principal Shortfall and (B) Available Investor
     Principal Collections, shall remain in the Principal Account to be
     treated as Shared Principal Collections and applied to Series other than
     this Series 2003-5; and

          (iii) an amount equal to the excess, if any, of (A) the Available
     Investor Principal Collections for such Transfer Date over (B) the
     applications specified in subsection 4.9(c)(i) and (ii) above shall be
     paid to the Holder of the Transferor Certificate; provided, however, that
     the amount to be paid to the Holder of the Transferor Certificate
     pursuant to this subsection 4.9(c)(iii) with respect to such Transfer
     Date shall be paid to the Holder of the Transferor Certificate only if
     the Transferor Interest on such Date of Processing is greater than the
     Minimum Transferor Interest (after giving effect to the inclusion in the
     Trust of all Receivables created on or prior to such Transfer Date and
     the application of payments referred to in subsection 4.3(b)) and
     otherwise shall be deposited into the Excess Funding Account.

          (d) On the Transfer Date immediately preceding the Scheduled
Principal Allocation Commencement Date (and on each Distribution Date
thereafter during the Controlled Accumulation Period), the Trustee or the
Paying Agent, acting in accordance with instructions from the Servicer, shall
pay to the Certificateholders an amount equal to the amount on deposit in the
Principal Funding Account on the related Transfer Date.

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<PAGE>

          (e) The Controlled Accumulation Period is scheduled to commence at
the close of business on the last day of the August 2007 Monthly Period;
provided, however, that, if the Accumulation Period Length (determined as
described below) is less than 12 months, the date on which the Controlled
Accumulation Period actually commences will be delayed to the first Business
Day of the month that is the number of whole months prior to the Scheduled
Principal Allocation Commencement Date at least equal to the Accumulation
Period Length and, as a result, the number of Monthly Periods in the
Controlled Accumulation Period will at least equal the Accumulation Period
Length. On the June 2007 Determination Date, and each Determination Date
thereafter until the Controlled Accumulation Period begins, the Servicer will
determine the "Accumulation Period Length" which will equal the number of
whole months such that the sum of the Accumulation Period Factors for each
month during such period will be equal to or greater than the Required
Accumulation Factor Number; provided, however, that the Accumulation Period
Length will not be determined to be less than one month.

          SECTION 4.10 Investor Charge-Offs.

          On or before each Transfer Date, the Servicer shall calculate the
Investor Default Amount. If on any Transfer Date, the Investor Default Amount
for the prior Monthly Period exceeds the sum of the amount allocated with
respect thereto pursuant to subsection 4.9(a)(v), with respect to such Monthly
Period, the Investor Interest (after giving effect to reductions for any
Reallocated Principal Collections on such Transfer Date) will be reduced by
the amount of such excess (such amount, an "Investor Charge-Off"), but not by
more than the lesser of the Investor Default Amount and the Investor Interest
(after giving effect to reductions for any Reallocated Principal Collections
on such Transfer Date) for such Transfer Date. In the event that such
reduction would cause the Investor Interest to be a negative number, the
Investor Interest will be reduced to zero, and no further amounts shall be
allocated to the Investor Certificate. If the Investor Interest has been
reduced by the amount of any Investor Charge-Offs or Reallocated Principal
Collections, such reductions will be reimbursed on any Transfer Date (but not
by an amount in excess of the aggregate unreimbursed Investor Charge-Offs and
unreimbursed Reallocated Principal Collections) by the amount of Available
Investor Finance Charge Collections allocable to Series 2003-5 allocated and
available for such purpose pursuant to subsection 4.9(a)(vi).

          SECTION 4.11 Reallocated Principal Collections.

          On or before each Transfer Date, the Servicer shall instruct the
Trustee and the Paying Agent in writing (which writing shall be substantially
in the form of Exhibit B hereto) to withdraw from the Principal Account and
apply Reallocated Principal Collections with respect to such Transfer Date in
an amount equal to the lesser of the Available Principal Collections and the
Monthly Principal Reallocation Amount for the preceding Monthly Period, and
apply such amounts on such Transfer Date in accordance with the priority set
forth in Section 4.9(a) hereof. On each Transfer Date the Investor Interest
shall be reduced by the amount of Reallocated Principal Collections for such
Transfer Date.

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<PAGE>

          SECTION 4.12 Shared Principal Collections.

          (a) The portion of Shared Principal Collections on deposit in the
Principal Account equal to the amount of Shared Principal Collections
allocable to Series 2003-5 on any Transfer Date shall be applied as Available
Investor Principal Collections pursuant to Section 4.9 and shall be deposited
in the Distribution Account.

          (b) Shared Principal Collections allocable to Series 2003-5 with
respect to any Transfer Date shall mean an amount equal to the Series
Principal Shortfall, if any, with respect to Series 2003-5 for such Transfer
Date; provided, however, that if the aggregate amount of Shared Principal
Collections for all Series for such Transfer Date is less than the Cumulative
Series Principal Shortfall for such Transfer Date, then Shared Principal
Collections allocable to Series 2003-5 on such Transfer Date shall equal the
product of (i) Shared Principal Collections for all Series for such Transfer
Date and (ii) a fraction, the numerator of which is the Series Principal
Shortfall with respect to Series 2003-5 for such Transfer Date and the
denominator of which is the aggregate amount of the Cumulative Series
Principal Shortfall for all Series for such Transfer Date.

          SECTION 4.13 Principal Funding Account.

          (a) The Trustee, or the Servicer, on its behalf, shall establish and
maintain, in the name of the Trust, on behalf of the Trust, for the benefit of
the Certificateholders, an Eligible Deposit Account (the "Principal Funding
Account"), bearing a designation clearly indicating that the funds deposited
therein are held for the benefit of the Certificateholders. The Trustee shall
possess all right, title and interest in all funds on deposit from time to
time in the Principal Funding Account and in all proceeds thereof. The
Principal Funding Account shall be under the sole dominion and control of the
Trustee for the benefit of the Certificateholders. If at any time the
Principal Funding Account ceases to be an Eligible Deposit Account, the
Transferor shall notify the Trustee, and the Trustee upon being notified (or
the Servicer on its behalf) shall, within 10 Business Days, establish a new
Principal Funding Account which meets the conditions specified in the
definition of Eligible Deposit Account, and shall transfer any cash or any
investments to such new Principal Funding Account. The Trustee or the Paying
Agent, at the direction of the Servicer, shall (i) make withdrawals from the
Principal Funding Account from time to time, in the amounts and for the
purposes set forth in this Series Supplement, and (ii) on each Transfer Date
(from and after the commencement of the Controlled Accumulation Period) prior
to termination of the Principal Funding Account make a deposit into the
Principal Funding Account in the amount specified in, and otherwise in
accordance with, subsection 4.9(c).

          (b) Funds on deposit in the Principal Funding Account shall be
invested at the direction of the Servicer by the Trustee or the Paying Agent
in Permitted Investments. Funds on deposit in the Principal Funding Account on
any Transfer Date, after giving effect to any withdrawals from the Principal
Funding Account on such Transfer Date, shall be invested in such investments
that will mature so that such funds will be available for withdrawal on or
prior to the next succeeding Transfer Date. The Trustee or the Paying Agent
shall maintain for the benefit of the Certificateholders possession of the
negotiable instruments or securities, if any, evidencing such Permitted
Investments. No Permitted Investment shall be disposed of prior to its
maturity.

                                      21

<PAGE>

          On the Transfer Date occurring in the month following the
commencement of the Controlled Accumulation Period, and on each Transfer Date
thereafter with respect to the Controlled Accumulation Period, the Trustee or
the Paying Agent, acting at the Servicer's direction given before each
Transfer Date, shall transfer from the Principal Funding Account to the
Finance Charge Account the Principal Funding Investment Proceeds, but not in
excess of the Covered Amount, for application as Available Investor Finance
Charge Collections applied pursuant to subsection 4.9(a).

          Any Excess Principal Funding Investment Proceeds shall be included
as Available Investor Finance Charge Collections for such Transfer Date. An
amount equal to any Principal Funding Investment Shortfall shall be deposited
in the Finance Charge Account on each Transfer Date from the Accumulation
Period Reserve Account to the extent funds are available pursuant to
subsection 4.14(d) and included as Available Investor Finance Charge
Collections for such Transfer Date. Principal Funding Investment Proceeds
(including reinvested interest) shall not be considered part of the amounts on
deposit in the Principal Funding Account for purposes of this Series
Supplement.

          SECTION 4.14 Accumulation Period Reserve Account.

          (a) The Trustee or the Servicer on its behalf shall establish and
maintain, on behalf of the Trust, for the benefit of the Certificateholders,
an Eligible Deposit Account (the "Accumulation Period Reserve Account"),
bearing a designation clearly indicating that the funds deposited therein are
held for the benefit of the Certificateholders. The Trustee shall possess all
right, title and interest in all funds on deposit from time to time in the
Accumulation Period Reserve Account and in all proceeds thereof. The
Accumulation Period Reserve Account shall be under the sole dominion and
control of the Trustee for the benefit of the Certificateholders. If at any
time the institution holding the Accumulation Period Reserve Account ceases to
be an Eligible Deposit Account, the Transferor shall notify the Trustee, and
the Trustee upon being notified (or the Servicer on its behalf) shall, within
10 Business Days, establish a new Accumulation Period Reserve Account meeting
the conditions specified in the definition of Eligible Deposit Account, and
shall transfer any cash or any investments to such new Accumulation Period
Reserve Account. The Trustee or the Paying Agent, at the direction of the
Servicer, shall (i) make withdrawals from the Accumulation Period Reserve
Account from time to time in an amount up to the Available Accumulation Period
Reserve Account Amount at such time, for the purposes set forth in this Series
Supplement, and (ii) on each Transfer Date (from and after the Accumulation
Period Reserve Account Funding Date) prior to termination of the Accumulation
Period Reserve Account make a deposit into the Accumulation Period Reserve
Account in the amount specified in, and otherwise in accordance with,
subsection 4.9(a)(vii).

          (b) Funds on deposit in the Accumulation Period Reserve Account
shall be invested at the direction of the Servicer by the Trustee or the
Paying Agent in Permitted Investments. Funds on deposit in the Accumulation
Period Reserve Account on any Transfer Date, after giving effect to any
withdrawals from the Accumulation Period Reserve Account on such Transfer
Date, shall be invested in such investments that will mature so that such
funds will be available for withdrawal on or prior to the next succeeding
Transfer Date. The Trustee shall maintain for the benefit of the
Certificateholders possession of the negotiable instruments or securities, if
any, evidencing such Permitted Investments. No Permitted Investment shall be
disposed of prior to its

                                      22

<PAGE>

maturity. On each Transfer Date, all interest and earnings (net of losses and
investment expenses) accrued since the preceding Transfer Date on funds on
deposit in the Accumulation Period Reserve Account shall be retained in the
Accumulation Period Reserve Account (to the extent that the Available
Accumulation Period Reserve Account Amount is less than the Required
Accumulation Period Reserve Account Amount) and the balance, if any, shall be
deposited into the Finance Charge Account and included in Available Investor
Finance Charge Collections for such Transfer Date. For purposes of determining
the availability of funds or the balance in the Accumulation Period Reserve
Account for any reason under this Series Supplement, except as otherwise
provided in the preceding sentence, investment earnings on such funds shall be
deemed not to be available or on deposit.

          (c) On or before each Transfer Date with respect to the Controlled
Accumulation Period prior to the payment in full of the Investor Interest and
on or before the first Transfer Date with respect to the Rapid Amortization
Period, the Servicer shall calculate the "Accumulation Period Reserve Draw
Amount" which shall be equal to the Principal Funding Investment Shortfall
with respect to each Transfer Date with respect to the Controlled Accumulation
Period or the first Transfer Date with respect to the Rapid Amortization
Period; provided, however, that such amount will be reduced to the extent that
funds otherwise would be available for deposit in the Accumulation Period
Reserve Account under Section 4.9(vii) with respect to such Transfer Date.

          (d) In the event that for any Transfer Date the Accumulation Period
Reserve Draw Amount is greater than zero, the Accumulation Period Reserve Draw
Amount, up to the Available Accumulation Period Reserve Account Amount, shall
be withdrawn from the Accumulation Period Reserve Account on such Transfer
Date by the Trustee or the Paying Agent (acting in accordance with the
instructions of the Servicer), deposited into the Finance Charge Account and
included in Available Investor Finance Charge Collections for such Transfer
Date.

          (e) In the event that the Accumulation Period Reserve Account
balance on any Transfer Date, after giving effect to all deposits to and
withdrawals from the Accumulation Period Reserve Account with respect to such
Transfer Date, is greater than zero, the Trustee or the Paying Agent, acting
in accordance with the instructions of the Servicer, shall withdraw from the
Accumulation Period Reserve Account, and include as Available Investor Finance
Charge Collections for such Transfer Date, an amount equal to such
Accumulation Period Reserve Account Surplus.

          (f) Upon the earliest to occur of (i) the termination of the Trust
pursuant to Article XII of the Agreement, (ii) if the Controlled Accumulation
Period has not commenced, the first Transfer Date relating to the Rapid
Amortization Period and (iii) if the Controlled Accumulation Period has
commenced, the earlier of the first Transfer Date with respect to the Rapid
Amortization Period and the Transfer Date immediately preceding the Scheduled
Principal Allocation Commencement Date, the Trustee, acting in accordance with
the instructions of the Servicer, shall withdraw from the Accumulation Period
Reserve Account and deposit all such amounts, if any, into the Finance Charge
Account to be treated as Available Investor Finance Charge Collections and the
Accumulation Period Reserve Account shall be deemed to have terminated for
purposes of this Series Supplement.

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<PAGE>

          SECTION 4.15 Transferor's or Servicer's Failure to Make a Deposit or
Payment.

          If the Servicer or the Transferor fails to make, or give
instructions to make, any payment or deposit (other than as required by
subsections 2.4(d) and (e) and 12.2(a) or Sections 10.2 and 12.1) required to
be made or given by the Servicer or Transferor, respectively, at the time
specified in the Agreement (including applicable grace periods), the Trustee
or the Paying Agent shall make such payment or deposit from the applicable
Investor Account without instruction from the Servicer or Transferor. The
Trustee or the Paying Agent shall be required to make any such payment,
deposit or withdrawal hereunder only to the extent that the Trustee or the
Paying Agent has sufficient information to allow it to determine the amount
thereof; provided, however, that the Trustee or the Paying Agent shall in all
cases be deemed to have sufficient information to determine the Class A Note
Interest Requirement, the Class B Note Interest Requirement, the Class C
Interest Requirement, the Net Class C Interest Requirement and the amount of
the Principal Payment on each Distribution Date. The Servicer shall, upon
request of the Trustee or the Paying Agent, promptly provide the Trustee or
the Paying Agent, as applicable with all information necessary to allow the
Trustee or the Paying Agent to make such payment, deposit or withdrawal. Such
funds or the proceeds of such withdrawal shall be applied by the Trustee or
the Paying Agent in the manner in which such payment or deposit should have
been made by the Transferor or the Servicer, as the case may be.

          SECTION 8. Article V of the Agreement.

          Article V of the Agreement shall read in its entirety as follows and
shall be applicable only to the Certificateholders:

                                   ARTICLE V

                   DISTRIBUTIONS AND REPORTS TO THE INVESTOR
                              CERTIFICATEHOLDERS

          SECTION 5.1 Distributions. On each Transfer Date, the Trustee or the
Paying Agent shall distribute (in accordance with the certificates delivered
on or before the related Transfer Date by the Servicer to the Trustee and the
Paying Agent pursuant to subsection 3.4(b)) to the Certificateholders of
record on the immediately preceding Record Date (other than as provided in
subsection 2.4(e) or Section 12.3 respecting a final distribution)the amounts
on deposit in the Distribution Account which are payable to the
Certificateholders pursuant to Section 4.9 by check mailed to the
Certificateholders (at the Certificateholders' addresses as they appear in the
Certificate Register), except that in the event the Investor Certificates are
registered in the name of the nominee of a Clearing Agency or the Owner Trust,
such distribution shall be made in immediately available funds.

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<PAGE>

          SECTION 5.2 Monthly Certificateholders' Statement.

          (a) On or before each Distribution Date, the Trustee or the Paying
Agent shall forward to the Certificateholders, each Rating Agency and the
   Owner Trustee a statement substantially in the form of Exhibit C to this
Series Supplement prepared by the Servicer, delivered to the Trustee and the
Paying Agent and setting forth, among other things, the following information
(which, in the case of subclauses (i) and (ii) below, shall be stated on the
basis of an original principal amount of $1,000 per Certificate and, in the
case of subclauses (viii) and (ix) shall be stated on an aggregate basis and
on the basis of an original principal amount of $1,000 per Certificate, as
applicable):

          (i) the amount of the current distribution allocable to the payment
     of principal with respect to the Certificates;

          (ii) the amount of the current distribution allocable to the Class A
     Note Interest Requirement, Class B Note Interest Requirement, and the Net
     Class C Note Interest Requirement, respectively;

          (iii) the amount of Collections of Principal Receivables processed
     during the related Monthly Period and allocated in respect of the
     Certificates;

          (iv) the amount of Collections of Finance Charge Receivables
     processed during the related Monthly Period and allocated in respect of
     the Certificates;

          (v) the aggregate amount of Principal Receivables, the Investor
     Interest, the Adjusted Investor Interest, the Floating Investor
     Percentage and the Fixed Investor Percentage as of the close of business
     on the Distribution Date preceding such Transfer Date (after giving
     effect to all of the transactions occurring on such date);

          (vi) the aggregate outstanding balance of Accounts which were 30 to
     59, 60 to 89, and 90 or more days delinquent as of the end of the day on
     the Record Date;

          (vii) the Aggregate Investor Default Amount for the related Monthly
     Period;

          (viii) the aggregate amount of Investor Charge-Offs, for the related
     Monthly Period;

          (ix) the aggregate amount of Investor Charge-Offs, reimbursed on the
     Transfer Date immediately preceding such Distribution Date;

          (x) the amount of the Investor Servicing Fee for the related Monthly
     Period;

          (xi) the Portfolio Yield for the preceding Monthly Period;

                                      25

<PAGE>

          (xii) the amount of Reallocated Principal Collections with respect
     to such Distribution Date;

          (xiii) the Accumulation Shortfall;

          (xiv) the Principal Funding Investment Proceeds transferred to the
     Finance Charge Account on the related Transfer Date;

          (xv) the Principal Funding Investment Shortfall on the related
     Transfer Date;

          (xvi) the amount of Available Investor Finance Charge Collections on
     deposit in the Finance Charge Account on the related Transfer Date; and

          (xvii) such other items as are set forth in Exhibit C to this Series
     Supplement.

          (b) Annual Certificateholders' Tax Statement. On or before January
31 of each calendar year, beginning with calendar year 2004, the Trustee and
the Paying Agent shall distribute to each Person who at any time during the
preceding calendar year was a Series 2003-5 Certificateholder, a statement
prepared by the Servicer containing the information required to be contained
in the regular monthly report to the Certificateholders, as set forth in
subclauses (i) and (ii) above, aggregated for such calendar year or the
applicable portion thereof during which such Person was a Series 2003-5
Certificateholder, together with such other customary information (consistent
with the treatment of the Certificates as debt) as the Servicer deems
necessary or desirable to enable the Certificateholders to prepare its tax
returns. Such obligations of the Trustee and the Paying Agent shall be deemed
to have been satisfied to the extent that substantially comparable information
shall be provided by the Trustee and the Paying Agent pursuant to any
requirements of the Internal Revenue Code as from time to time in effect.

          SECTION 9. Series 2003-5 Pay Out Events. If any one of the following
events shall occur with respect to the Investor Certificates:

          (a) failure on the part of the Transferor (i) to make any payment or
     deposit required by the terms of (A) the Agreement or (B) this Series
     Supplement, on or before the date occurring five days after the date such
     payment or deposit is required to be made herein or (ii) duly to observe
     or perform in any material respect any covenants or agreements of the
     Transferor set forth in the Agreement or this Series Supplement, which
     failure has a material adverse effect on the Certificateholders and which
     continues unremedied for a period of 60 days after the date on which
     written notice of such failure, requiring the same to be remedied, shall
     have been given to the Transferor by the Trustee, or to the Transferor
     and the Trustee by the Holder of the Investor Certificates and continues
     to affect materially and adversely the interests of the
     Certificateholders;

          (b) any representation or warranty made by the Transferor in the
     Agreement or this Series Supplement, or any information contained in a
     computer file or

                                      26

<PAGE>

     microfiche list required to be delivered by the Transferor pursuant to
     Section 2.1 or 2.6, (i) shall prove to have been incorrect in any
     material respect when made or when delivered, which continues to be
     incorrect in any material respect for a period of 60 days after the date
     on which written notice of such failure, requiring the same to be
     remedied, shall have been given to the Transferor by the Trustee, or to
     the Transferor and the Trustee by the Holders of the Investor
     Certificates, and (ii) as a result of which the interests of the
     Certificateholders are materially and adversely affected and continue to
     be materially and adversely affected for such period; provided, however,
     that a Series 2003-5 Pay Out Event pursuant to this subsection 9(b) shall
     not be deemed to have occurred hereunder if the Transferor has accepted
     reassignment of the related Receivable, or all of such Receivables, if
     applicable, during such period in accordance with the provisions of the
     Agreement;

          (c) the average Portfolio Yield for any three consecutive Monthly
     Periods is reduced to a rate which is less than the average of the Base
     Rates for such period;

          (d) the Transferor shall fail to convey Receivables arising under
     the Additional Accounts, or Participations, to the Trust, as required by
     subsection 2.6(a);

          (e) any Servicer Default shall occur which would have a material
     adverse effect on the Certificateholders;

          (f) the Investor Interest shall not be paid in full on the second
     Distribution Date following the Scheduled Principal Allocation
     Commencement Date; or

          (g) the occurrence of an Event of Default;

then, in the case of any event described in subsection 9(a), (b) or (e)
hereof, after the applicable grace period set forth in such subsections,
either the Trustee or the Noteholders representing not less than 50% of the
outstanding principal amount of the Notes by notice then given in writing to
the Transferor and the Servicer (and to the Trustee if given by the
Noteholders) may declare that a pay out event (a "Series 2003-5 Pay Out
Event") has occurred with respect to the Series Certificates as of the date of
such notice, and in the case of any event described in subsection 9(c), (d),
(f) or (g) hereof, a Series 2003-5 Pay Out Event shall occur without any
notice or other action on the part of the Trustee or the Noteholders
immediately upon the occurrence of such event.

          SECTION 10. Series 2003-5 Termination.

          The right of the Certificateholders to receive payments from the
Trust will terminate on the first Business Day following the Series 2003-5
Termination Date.

                                      27

<PAGE>

          SECTION 11. Counterparts.

          This Series Supplement may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all of such counterparts shall together constitute but one and the same
instrument.

          SECTION 12. (a) Governing Law.

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

          (b) Article 8. The Series Certificates shall be securities governed
by Article 8 of the Delaware Uniform Commercial Code, as amended from time to
time. The foregoing declaration shall not be amended, modified, revoked or
otherwise changed during the effectiveness of this Agreement without the prior
written consent of the Indenture Trustee.

          SECTION 13. No Petition.

          The Transferor, the Servicer and the Trustee, by entering into this
Series Supplement and the Certificateholders, by accepting Series 2003-5
Certificates hereby covenant and agree that they will not at any time
institute against the Trust, or join in any institution against the Trust of,
any bankruptcy proceedings under any United States Federal or state bankruptcy
or similar law in connection with any obligations relating to the
Certificateholders, the Agreement or this Series Supplement.

          SECTION 14. Amendment to Agreement.

          By purchasing its Series 2003-5 Certificates the Certificateholders
shall be deemed to have consented (i) that JPMorgan Chase Bank shall be
replaced as Servicer with Chase Manhattan Bank USA, National Association, as a
successor servicer pursuant to an amendment of the Agreement to be executed at
such time as shall be agreed to by the parties thereto and (ii) that the
Agreement may be amended in such manner as may be specified by Chase USA so
that one or more special purpose entities may be interposed between Chase USA
and the Chase Credit Card Master Trust so that the Transferor is one or more
of such special purpose entities; provided, that, any such amendment pursuant
to this clause (ii) shall be made only if (a) the Rating Agency Condition is
satisfied and (b) such amendment would not, but for this clause (ii), require
the consent of all of the holders of the Certificates of all Series affected
by such amendment pursuant to Section 13.1(c) of the Agreement. Nothing in
clause (ii) of this Section 14 shall be construed to mean that any such
amendment would have required, but for such clause, the consent of
Certificateholders of this or any other outstanding Series.

                                      28

<PAGE>

          SECTION 15. Tax Representation and Covenant.

          Any Certificateholder, other than the Owner Trust, shall be required
to represent and covenant in connection with the acquisition of an interest in
the Series 2003-5 Certificates, that (x) it has neither acquired, nor will it
sell, trade or transfer any interest in the Trust or cause any interest in the
Trust to be marketed on or through an "established securities market" within
the meaning of Code section 7704(b)(1), including without limitation an
interdealer quotation system that regularly disseminates firm buy or sell
quotations by identified brokers or dealers by electronic means or otherwise,
(y) unless the Transferor consents otherwise, such holder (i) is properly
classified as, and will remain classified as, a "corporation" as described in
Code section 7701(a)(3) and (ii) is not, and will not become, an S corporation
as described in Code section 1361, and (z) it will (i) cause any participant
with respect to such interest otherwise permitted hereunder to make similar
representations and covenants for the benefit of the Transferor and the Trust
and (ii) forward a copy of such representations and covenants to the Trustee.
Each such Holder shall further agree in connection with its acquisition of
such interest that, in the event of any breach of its (or its participant's)
representation and covenant that it (or its participant) is and shall remain
classified as a corporation other than an S corporation, the Transferor shall
have the right to procure a replacement investor to replace such holder (or
its participant), and further that such holder shall take all actions
necessary to permit such replacement investor to succeed to its rights and
obligations as a holder (or to the rights of its participant).

          SECTION 16. Transfers of the Certificates.

          (a) No portion of the Certificate or any interest therein may be
sold (including in the initial offering), conveyed, assigned, hypothecated,
pledged, participated, or otherwise transferred (each, a "Transfer") except in
accordance with this Section 16. No portions of the Certificates or any
interest therein may be Transferred to any Person (other than Chase Credit
Card Owner Trust 2003-5 and The Bank of New York, not in its individual
capacity but solely in its capacity as indenture trustee for the Chase Credit
Card Owner Trust 2003-5) (each, an "Assignee"), unless the Assignee shall have
executed and delivered the certification referred to in subsection 16(e)
below. Any attempted Transfer that would cause the number of Targeted Holders
to exceed ninety-nine shall be void.

          (b) Each Assignee shall certify to the Transferor, the Servicer, and
the Trustee that it is either (A)(i) a citizen or resident of the U.S., (ii) a
corporation, partnership or other entity organized in or under the laws of the
U.S. or any political subdivision thereof which, if such entity is a
tax-exempt entity, recognizes that payments with respect to the Certificate
may constitute unrelated business taxable income or (iii) a Person not
described in (i) or (ii) whose ownership of any interest in the Certificates
is effectively connected with the conduct of a trade or business within the
United States (within the meaning of the Code) or (B) an estate or trust the
income of which is includible in gross income for U.S. federal income tax
purposes. Each Assignee also shall agree that (a) if it is a person described
in clause (A)(i) or (A)(ii) above, it will furnish to the Person from whom it
is acquiring any interest in the Certificate, the Servicer and the Trustee, a
properly executed U.S. Internal Revenue Service Form W-9 (and will agree to
furnish a new Form W-9, or any successor applicable form, upon the expiration
or obsolescence of any previously delivered form) or (b) if it is a person
described in clause (A)(iii) above, it will

                                      29

<PAGE>

furnish to the person from whom it is acquiring any interest in the
Certificates, the Servicer and the Trustee, a properly executed U.S. Internal
Revenue Service Form W-8ECI (and will agree to furnish a new Form W-8ECI, or
any successor applicable form, upon the expiration or obsolescence of any
previously delivered form and comparable statements in accordance with
applicable U.S. laws), and, in each case, such other certifications,
representations or opinions of counsel as may be requested by the Trustee.

          (c) Each Initial Purchaser of any interest in the Certificates and
any Assignee thereof shall certify to the Transferor, the Servicer and the
Trustee that, in the case of any Assignee, it has not acquired and, in the
case of each Initial Purchaser and any Assignee, it will not sell, trade or
transfer any interest in the Certificates or cause an interest in the
Certificates to be marketed on or through an "established securities market"
within the meaning of Section 7704(b)(1) of the Code and any treasury
regulation thereunder, including, without limitation, an
over-the-counter-market or an interdealer quotation system that regularly
disseminates firm buy or sell quotations. In addition, any Assignee shall
certify, prior to any delivery or Transfer to it of any Certificates that it
is not and will not become, for so long as it holds an interest in the
Certificates, a partnership, Subchapter S corporation or grantor trust for
U.S. federal income tax purposes or, if it is such a Person, the Certificates
will represent not more than 50% of the value of all of its assets. Each
Initial Purchaser of an interest in the Certificates acknowledges that the
Opinion of Counsel to the effect that the Trust will not be treated as a
publicly traded partnership taxable as a corporation is dependent in part on
the accuracy of its certifications described in this subsection 16(c). For
purposes of this Section 16, "Initial Purchaser" shall mean the Transferor,
Chase Credit Card Owner Trust 2003-5 and The Bank of New York not in its
individual capacity but solely in its capacity as indenture trustee for the
Chase Credit Card Owner Trust 2003-5.

          (d) Each Initial Purchaser of any interest in the Certificates
shall, by its acceptance of the Certificates, be deemed to have certified and
each Assignee shall certify to the Transferor, the Servicer and the Trustee
(i) that it has purchased its interest in the Certificates for investment only
and not with a view to any public distribution thereof, (ii) that it will not
offer, sell, pledge or otherwise transfer its interest in all or any portion
of the Certificates, except in compliance with the Securities Act and other
applicable laws and only (1) to the Transferor or (2) to a limited number of
institutional "accredited investors" (as defined in Rule 501(a)(1), (2), (3)
or (7) under the Securities Act) and in a transaction exempt from the
registration requirements of the Securities Act (upon delivery of the
documentation required by the Pooling and Servicing Agreement and, if the
Trustee so requires, an opinion of counsel satisfactory to the Trustee) and
(iii) its purchase of its interest in the Certificates is not being made in
reliance on the Prospectus. Each holder by acquiring the Certificates must
represent that it is an institutional "accredited investor" (as defined in
Rule 501(a)(1), (2), (3) or (7) under the Securities Act).

          (e) Any request for registration of transfer of all or any portion
of the Certificates shall be made at the office of the Transfer Agent and
Registrar and shall be accompanied by letters of representations from the
prospective Certificateholders substantially in the form attached as Exhibit
D, executed by the ultimate beneficial purchaser of the Investor Interest (or
any portion thereof) in person or by such prospective Certificateholders'
attorney thereunto duly authorized in writing, and receipt by the Trustee of
the written consent of each of the Transferor and the Servicer to such
transfer, the Certificates (or such portion thereof) shall be

                                      30

<PAGE>

transferred upon the Certificate Register. Such transfers of all or any
portion of the Certificates shall be subject to the restrictions set forth in
this Section 16 and to such other restrictions as shall be set forth in the
letter of representations, substantially in the form attached as Exhibit D,
executed by the purchasing Certificateholders. Successive registrations and
registrations of transfers as aforesaid may be made from time to time as
desired, and each such registration shall be noted on the Certificate
Register.

          (f) The Transferor and the Servicer will facilitate any transfer of
the Certificates consistent with the requirements of this Section 16,
including assisting in the determination as to whether the number of Targeted
Holders would exceed ninety-nine.

          SECTION 17. Compliance with Withholding Requirements.

          Notwithstanding any other provision of the Agreement, the Trustee
and any Paying Agent shall comply with all Federal withholding requirements
with respect to payments to the Certificateholders of interest, original issue
discount, or other amounts that the Trustee, any Paying Agent, the Servicer or
the Transferor reasonably believes are applicable under the Code. The consent
of the Certificateholders shall not be required for any such withholding. In
the event the Trustee or the Paying Agent withholds any amount from payments
made to any Certificateholders pursuant to federal withholding requirements,
the Trustee or the Paying Agent shall indicate to such Certificateholders the
amount withheld and all such amounts shall be deemed to have been paid to such
Certificateholders and such Certificateholders shall have no claim therefor.

          SECTION 18. Tax Characterization of the Certificates.

          It is the intention of the parties hereto that the provisions of
Section 3.7 of the Agreement shall not apply to cause the Certificates to be
treated as debt for Federal, state and local income and franchise tax
purposes, but rather it is the intention of the parties hereto that the
Certificates be treated for Federal, state and local income and franchise tax
purposes as representing an undivided beneficial interest in the assets of the
Trust.

          SECTION 19. ERISA Legend.

          Each Certificate will bear a legend or legends substantially in the
following form:

          EACH PURCHASER REPRESENTS AND WARRANTS FOR THE BENEFIT OF CHASE
MANHATTAN BANK USA, NATIONAL ASSOCIATION, THAT UNLESS SUCH PURCHASER, AT ITS
EXPENSE, DELIVERS TO THE TRUSTEE, THE SERVICER AND THE TRANSFEROR AN OPINION
OF COUNSEL SATISFACTORY TO THEM TO THE EFFECT THAT THE PURCHASE OR HOLDING OF
THIS CERTIFICATE BY SUCH PURCHASER WILL NOT RESULT IN THE ASSETS OF THE TRUST
BEING DEEMED TO BE "ASSETS OF A BENEFIT PLAN" OR SUBJECT TO THE PROHIBITED
TRANSACTION PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974,
AS AMENDED ("ERISA") AND THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE

                                      31
<PAGE>

"CODE") AND WILL NOT SUBJECT THE TRUSTEE, THE TRANSFEROR OR THE SERVICER TO
ANY OBLIGATION IN ADDITION TO THOSE UNDERTAKEN IN THE POOLING AND SERVICING
AGREEMENT, SUCH PURCHASER IS NOT (I) AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN
SECTION 3(3) ERISA) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA,
(II) A PLAN DESCRIBED IN SECTION 4975 (E)(1) OF THE CODE, OR (III) AN ENTITY
WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN'S INVESTMENT
IN THE ENTITY.

                                      32

<PAGE>

          IN WITNESS WHEREOF, the Transferor, the Servicer and the Trustee
have caused this Series 2003-5 Supplement to be duly executed by their
respective officers as of the day and year first above written.

                           CHASE MANHATTAN BANK USA,
                           NATIONAL ASSOCIATION
                           Transferor on and after June 1, 1996

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

                           JPMORGAN CHASE BANK,
                           Transferor prior to June 1, 1996 and Servicer

                           By: /s/ Miriam K. Haimes
                              ------------------------------------------------
                           Name:  Miriam K. Haimes
                           Title: Senior Vice President

                           THE BANK OF NEW YORK,
                           Trustee

                           By: /s/ Daniel Rothman
                              ------------------------------------------------
                           Name:  Daniel Rothman
                           Title: Assistant Vice President

<PAGE>

                                                                     EXHIBIT A

                              FORM OF CERTIFICATE
                              -------------------

          EACH PURCHASER REPRESENTS AND WARRANTS FOR THE BENEFIT OF CHASE
     MANHATTAN BANK USA, NATIONAL ASSOCIATION, THAT UNLESS SUCH PURCHASER, AT
     ITS EXPENSE, DELIVERS TO THE TRUSTEE, THE SERVICER AND THE TRANSFEROR AN
     OPINION OF COUNSEL SATISFACTORY TO THEM TO THE EFFECT THAT THE PURCHASE
     OR HOLDING OF THIS CERTIFICATE BY SUCH PURCHASER WILL NOT RESULT IN THE
     ASSETS OF THE TRUST BEING DEEMED TO BE "ASSETS OF A BENEFIT PLAN" OR
     SUBJECT TO THE PROHIBITED TRANSACTION PROVISIONS OF THE EMPLOYEE
     RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA") AND THE
     INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE") AND WILL NOT
     SUBJECT THE TRUSTEE, THE TRANSFEROR OR THE SERVICER TO ANY OBLIGATION IN
     ADDITION TO THOSE UNDERTAKEN IN THE POOLING AND SERVICING AGREEMENT, SUCH
     PURCHASER IS NOT (I) AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION 3(3)
     ERISA) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (II) A PLAN
     DESCRIBED IN SECTION 4975 (E)(1) OF THE CODE, OR (III) AN ENTITY WHOSE
     UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN'S INVESTMENT IN
     THE ENTITY.

                                      A-1

<PAGE>

No. 1                                                           $1,000,000,000

                        CHASE CREDIT CARD MASTER TRUST
                           SERIES 2003-5 CERTIFICATE

Evidencing an Undivided Interest in a trust, the corpus of which consists of a
portfolio of MasterCard(R) and VISA(R)1 credit card receivables generated or
acquired by Chase Manhattan Bank USA, National Association ("Chase USA") and
other assets and interests constituting the Trust under the Pooling and
Servicing Agreement described below.

                     (Not an interest in or obligation of
                                   Chase USA
                          or any Affiliate thereof.)

          This certifies that CHASE CREDIT CARD OWNER TRUST 2003-5 (the
"Certificateholder") is the registered owner of an Undivided Interest in a
trust (the "Trust"), the corpus of which consists of a portfolio of
receivables (the "Receivables") now existing or hereafter created and arising
in connection with selected MasterCard and VISA credit card accounts (the
"Accounts") of Chase USA, all monies due or to become due in payment of the
Receivables (including all Finance Charge Receivables), the right to certain
amounts received as Interchange and Recoveries (if any), all proceeds of the
foregoing and the other assets and interests constituting the Trust pursuant
to the Third Amended and Restated Pooling and Servicing Agreement dated as of
November 15, 1999 as amended by the First Amendment thereto dated as of March
31, 2001, and the Second Amendment thereto dated as of March 1, 2002 as
supplemented by the Series 2003-5 Supplement dated as of September 30, 2003
(collectively, the "Pooling and Servicing Agreement"), by and among Chase USA,
as Transferor on and after June 1, 1996, JPMorgan Chase Bank, as Transferor
prior to June 1, 1996 and as Servicer, and The Bank of New York, as Trustee
(the "Trustee"). To the extent not defined herein, capitalized terms used
herein have the respective meanings assigned to them in the Pooling and
Servicing Agreement.

          This Certificate is issued under and is subject to the terms,
provisions and conditions of the Pooling and Servicing Agreement, to which
Pooling and Servicing Agreement, as amended from time to time, the
Certificateholder by virtue of the acceptance hereof assents and by which the
Certificateholder is bound. This Certificate is a duly authorized Investor
Certificate entitled "Series 2003-5 Certificate" (the "Certificate"), which
represents an Undivided Interest in the Trust, including the right to receive
the Collections and other amounts allocated to the Certificates at the times
and in the amounts specified in the Pooling and Servicing Agreement and to be
deposited in the Investor Accounts, the Principal Funding Account and the
Accumulation Period Reserve Account or paid to the Certificateholder.

---------------
   MasterCard(R)and VISA(R)are federally registered servicemarks of
   MasterCard International Inc. and of Visa U.S.A., Inc., respectively.

                                      A-2

<PAGE>

          The aggregate interest represented by the Certificate at any time in
the Principal Receivables in the Trust shall not exceed an amount equal to the
Investor Interest at such time. As of the Closing Date, the Initial Investor
Interest is $1,000,000,000.

          The Investor Interest on any date of determination will be an amount
equal to (a) the Initial Investor Interest minus (b) the aggregate amount of
principal payments made to the Certificateholder prior to such date, and minus
(c) the excess, if any, of the aggregate amount of Investor Charge-Offs and
Reallocated Principal Collections over Investor Charge-Offs and Reallocated
Principal Collections reimbursed prior to such date of determination;
provided, however, that the Investor Interest may not be reduced below zero.

          For the purpose of allocating Collections of Finance Charge
Receivables and Receivables in Defaulted Accounts for each Monthly Period
during the Controlled Accumulation Period, the Investor Interest will be
further reduced (such reduced amount, the "Adjusted Investor Interest") by the
aggregate principal amount of funds on deposit in the Principal Funding
Account.

          In addition to the Certificate, the Transferor will retain an
undivided interest in the Trust pursuant to the Pooling and Servicing
Agreement. The Transferor Interest is the interest in the Principal
Receivables not represented by all of the Investor Certificates issued by the
Trust. The Transferor Interest may be exchanged by the Transferor pursuant to
the Pooling and Servicing Agreement for a newly issued Series of Investor
Certificates and a reduced Transferor Interest upon the conditions set forth
in the Pooling and Servicing Agreement.

          The Trust shall pay to the Series 2003-5 Certificateholder an amount
equal to the sum of the Class A Note Interest Requirement, the Class B Note
Interest Requirement and the Net Class C Note Interest Requirement, with
respect to each Interest Period, as more specifically set forth in the Pooling
and Servicing Agreement (collectively, the "Note Interest Amount"), and will
be distributed on the Business Day preceding November 17, 2003 and the 15th
day of each calendar month thereafter, or if such day is not a Business Day,
on the next succeeding Business Day (a "Distribution Date"), to the
Certificateholder of record as of the last Business Day of the calendar month
preceding such Distribution Date (the "Record Date"). During the Rapid
Amortization Period, in addition to the Note Interest Amount, principal will
be distributed to the Certificateholder on each Distribution Date to the
extent of Available Investor Principal Collections until the Certificate has
been paid in full. During the Controlled Accumulation Period, in addition to
monthly payments of the Note Interest Amounts, the amount on deposit in the
Principal Funding Account will be distributed as principal to the
Certificateholder on the Business Day preceding the September 2008
Distribution Date (the "Scheduled Principal Allocation Commencement Date"),
unless distributed earlier as a result of the occurrence of a Pay Out Event in
accordance with the Pooling and Servicing Agreement.

          On or before each Transfer Date, the Servicer shall instruct the
Trustee in writing to withdraw and the Trustee, acting in accordance with such
instructions, shall withdraw on such Transfer Date, from the Finance Charge
Account to the extent of funds on deposit therein (i) Collections of Finance
Charge Receivables processed as of the end of the preceding Monthly Period
which have been allocated to the Series 2003-5 Certificate, (ii) from other
amounts

                                      A-3

<PAGE>

constituting Available Investor Finance Charge Collections, the sum of (A) the
Class A Note Interest Requirement, (B) the Class B Note Interest Requirement,
and (C) the Net Class C Note Interest Requirement.

          On each Transfer Date, the Trustee or the Paying Agent shall apply
the Available Investor Finance Charge Collections withdrawn from the Finance
Charge Account, as required by the Pooling and Servicing Agreement, in the
following order of priority: (i) an amount equal to the Class A Note Interest
Requirement for the related Payment Date, (ii) an amount equal to the Class B
Note Interest Requirement for the related Payment Date, (iii) the amount of
any Net Investor Servicing Fee for such Transfer Date plus the amount of any
Net Investor Servicing Fee due but not paid on any prior Transfer Date, (iv)
an amount equal to the Net Class C Note Interest Requirement for the related
Payment Date, (v) an amount equal to the Investor Default Amount, if any, for
the preceding Monthly Period, (vi) an amount equal to the sum of the Investor
Charge-Offs and the amount of Reallocated Principal Collections which have not
been previously reimbursed, (vii) in accordance with the terms of the Pooling
and Servicing Agreement, an amount equal to the excess of the Required
Accumulation Period Reserve Account Amount over the Available Accumulation
Period Reserve Account Amount and (viii) the excess, if any, of the Required
Owner Trust Spread Account Amount over the amount then on deposit in the Owner
Trust Spread Account.

          On or before the Transfer Date immediately succeeding the Monthly
Period in which the Controlled Accumulation Period or the Rapid Amortization
Period commences and on or before each Transfer Date thereafter, the Servicer
shall instruct the Trustee in writing to withdraw, and the Trustee, acting in
accordance with such instructions, shall withdraw on such Transfer Date from
the Principal Account an amount equal to the least of (a) the Available
Investor Principal Collections on deposit in the Principal Account, (b) the
applicable Controlled Deposit Amount and (c) the Adjusted Investor Interest
prior to any deposits on such date and from such amounts, and (i) during the
Controlled Accumulation Period, deposit such amount into the Principal Funding
Account, and (ii) during the Rapid Amortization Period, pay such amount to the
Certificateholder.

          Distributions with respect to this Series 2003-5 Certificate will be
made by the Trustee by, except as otherwise provided in the Pooling and
Servicing Agreement, wire transfer or check mailed to the address of the
Series 2003-5 Certificateholder of record appearing in the Certificate
Register and except for the final distribution in respect of this Series
2003-5 Certificate, without the presentation or surrender of this Series
2003-5 Certificate or the making of any notation thereon.

          This Certificate represents an interest in only the Chase Credit
Card Master Trust. This Certificate does not represent an obligation of, or an
interest in, the Transferor or the Servicer, and neither the Certificate nor
the Accounts or Receivables are insured or guaranteed by the Federal Deposit
Insurance Corporation or any other governmental agency. This Series 2003- 5
Certificate is limited in right of payment to certain collections respecting
the Receivables, all as more specifically set forth hereinabove and in the
Pooling and Servicing Agreement.

                                      A-4

<PAGE>

          The Transfer of this Certificate shall be registered in the
Certificate Register upon surrender of this agency maintained by the Transfer
Agent and Registrar accompanied by a written instrument of transfer in a form
satisfactory to the Trustee and the Transfer Agent and Registrar duly executed
by the Certificateholder or such Certificateholder's attorney-in-fact duly
authorized in writing, and thereupon one or more new Certificates of
authorized denominations and for the same aggregate Undivided Interests will
be issued to the designated transferee or transferees.

          The Servicer, the Trustee and the Transfer Agent and Registrar, and
any agent of any of them, may treat the Person in whose name this Certificate
is registered as the owner hereof for all purposes, and neither the Servicer,
the Trustee, the Paying Agent, the Transfer Agent and Registrar, nor any agent
of any of them or of any such agent shall be affected by notice to the
contrary except in certain circumstances described in the Pooling and
Servicing Agreement.

          The Pooling and Servicing Agreement provides that the right of the
Series 2003-5 Certificateholder to receive payment from the Trust will
terminate on the first Business Day following the Series 2003-5 Termination
Date. Upon the termination of the Trust pursuant to Section 12.1 of the
Pooling and Servicing Agreement, the Trustee shall assign and convey to the
Holder of the Transferor Certificate (without recourse, representation or
warranty) all right, title and interest of the Trust in the Receivables,
whether then existing or thereafter created, and all proceeds of such
Receivables and Insurance Proceeds relating to such Receivables. The Trustee
or the Paying Agent shall execute and deliver such instruments of transfer and
assignment, in each case without recourse, as shall be prepared by the
Servicer reasonably requested by the Holder of the Transferor Certificate to
vest in such Holder all right, title and interest which the Trustee had in the
Receivables.

          This Series 2003-5 Certificate is a security governed by Article 8
of the Delaware Uniform Commercial Code, as amended from time to time. The
foregoing declaration shall not be amended, modified, revoked or otherwise
changed during the effectiveness of the Series Supplement without the prior
written consent of the Indenture Trustee.

          Unless the certificate of authentication hereon has been executed by
or on behalf of the Trustee, by manual signature, this Certificate shall not
be entitled to any benefit under the Pooling and Servicing Agreement, or be
valid for any purpose.

                                      A-5

<PAGE>

          IN WITNESS WHEREOF, Chase Manhattan Bank USA, National Association,
has caused this Certificate to be duly executed.

                                    By:
                                         ----------------------------------
                                         Authorized Officer

Dated:

                                      A-6

<PAGE>

                Form of Trustee's Certificate of Authentication

                         CERTIFICATE OF AUTHENTICATION

          This is the Certificate of Chase Credit Card Master Trust, Series
2003-5, referred to in the within-mentioned Pooling and Servicing Agreement.

                                     THE BANK OF NEW YORK,
                                          Trustee

                                     By:
                                          ----------------------------------
                                          Authorized Signatory

Dated:

                                      A-7

<PAGE>

                                                                     EXHIBIT B

             FORM OF MONTHLY PAYMENT INSTRUCTIONS AND NOTIFICATION
                                TO THE TRUSTEE
                              JPMORGAN CHASE BANK
                 CHASE CREDIT CARD MASTER TRUST SERIES 2003-5
                   MONTHLY PERIOD ENDING __________ __, ____

Capitalized terms used in this notice have their respective meanings set forth
in the Pooling and Servicing Agreement. References herein to certain sections
and subsections are references to the respective sections and subsections of
the Pooling and Servicing Agreement as supplemented by the Series 2003-5
Supplement. This notice is delivered pursuant to Section 4.9.

     A)   JPMorgan Chase Bank is the Servicer under the Pooling and Servicing
          Agreement.

     B)   The undersigned is a Servicing Officer.

     C)   The date of this notice is on or before the related Transfer Date
          under the Pooling and Servicing Agreement.

I. INSTRUCTION TO MAKE A WITHDRAWAL

Pursuant to Section 4.9, the Servicer does hereby instruct the Trustee (i) to
make withdrawals from the Finance Charge Account, the Principal Account and
the Principal Funding Account on ________ __, ____, which date is a Transfer
Date under the Pooling and Servicing Agreement, in aggregate amounts set forth
below in respect of the following amounts and (ii) to apply the proceeds of
such withdrawals in accordance with subsection 3(a) of the Series 2003-5
Supplement and Section 4.9 of the Pooling and Servicing Agreement:

           A.   Pursuant to subsection 3(a) of the Series 2003-5
                Supplement:

                1.  Servicer Interchange                       $_________

                2.  Net Investor Servicing Fee                 $_________

           B.   Pursuant to subsection 4.9(a):

                1.  Class A Note Interest Requirement          $_________

                2.  Class B Note Interest Requirement          $_________

                3.  Net Investor Servicing Fee                 $_________

                4.  Net Class C Note Interest Requirement      $_________

                5.  Investor Default Amount                    $_________

                                     B-1

<PAGE>

                6.  Investor Charge-offs                       $_________

                7.  Deposit to the Reserve Account             $_________

                8.  Deposit to the Owner Trust Spread Account  $_________

                9.  Excess Finance Charge Collections          $_________

            C.  Pursuant to subsection 4.8 and 4.9(a):
                (Application of Shared Excess Finance
                Charge Collections to the Required Amount)

                1.  Class A Note Interest Requirement          $_________

                2.  Class B Note Interest Requirement          $_________

                3.  Net Investor Servicing Fee                 $_________

                4.  Net Class C Note Interest Requirement      $_________

                5.  Investor Default Amount                    $_________

            D.  Pursuant to subsection 4.9(b):

                1.  Amount to be treated as Shared
                    Principal Collections                      $_________

                2.  Amount to be paid to the holder of the
                    Transferor's Interest                      $_________

                3.  Unallocated Principal Collections
                   (Excess Funding Account)                    $_________

            E.  Pursuant to subsection 4.9(c):

                1.  Monthly Principal                          $_________

                2.  Amount to be treated as Shared
                    Principal Collections                      $_________

                3.  Amount to be paid to the holder of the
                    Transferor's Interest                      $_________

                4.  Unallocated Principal Collections
                    (Excess Funding Account)                   $_________

            F.  Pursuant to subsection 4.9(d):

                                     B-2

<PAGE>

                1.  Amount to be withdrawn from the
                    Principal Funding Account commencing
                    on the Transfer Date preceding the
                    Scheduled Principal Allocation
                    Commencement Date                          $_________

                                     B-3

<PAGE>

II. REALLOCATED PRINCIPAL COLLECTIONS

Pursuant to Section 4.11, the Servicer does hereby instruct the Trustee to
withdraw from the Principal Account and apply Reallocated Principal
Collections pursuant to Section 4.11 with respect to the related Monthly
Period in the following amounts:

            A.  Pursuant to Section 4.11:

                1.  Monthly Reallocated Principal
                    Collections                                $_________

III. ACCRUED AND UNPAID AMOUNTS

After giving effect to the withdrawals and transfers to be made in accordance
with this notice, the following amounts will be accrued and unpaid with
respect to all Monthly Periods preceding the current calendar month:

            A.  Pursuant to Section 4.6:

                1.  Class A Note Interest Shortfall            $_________

                2.  Class B Note Interest Shortfall            $_________

                3.  Class C Note Interest Shortfall            $_________

            B.  Pursuant to Section 4.9(a)(iii):

                1.  Unpaid Net Investor Servicing Fee          $_________

            C.  Pursuant to Section 4.10:

                1.  Aggregate amount of all unreimbursed
                    Investor Charge-Offs                       $_________

          IN WITNESS WHEREOF, the undersigned has duly executed this
certificate this ____ day of __________, ____.

                                     JPMORGAN CHASE BANK,
                                     Servicer

                                     By:_________________________
                                        Name:
                                        Title:

                                      B-4

<PAGE>

                                   EXHIBIT C

          FORM OF MONTHLY SERIES 2003-5 CERTIFICATEHOLDER'S STATEMENT

<TABLE>
<CAPTION>
     JPMorgan Chase Bank                                       Chase Credit Card Owner Trust         Monthly Report
     Certificateholder's Statement                                   Series 2003-5

Section 5.2 - Supplement                                             Series 2003-5                        Total
                                                                      Certificate
<S>                                                      <C>                                      <C>
(i)     Monthly Principal Distributed                       ____________________________________       ____________
(ii)    Monthly Interest Distributed                        ____________________________________       ____________
                Class A Note Interest Requirement           ____________________________________       ____________
                Class B Note Interest Requirement           ____________________________________       ____________
                Net Class C Note Interest Requirement       ______________________                     ____________
                                                                                        ________       ____________
(iii)   Collections of Principal Receivables                ____________________________________       ____________
(iv)    Collections of Finance Charge Receivables           ____________________________________       ____________
(v)     Aggregate Amount of Principal Receivables                                                      ____________
                                 Investor Interest          ____________________________________       ____________
                                 Adjusted Interest          ____________________________________       ____________
                  Floating Investor Percentage              ____________________________________       ____________
                  Fixed Investor Percentage                 ____________________________________       ____________
(vi)    Receivables Delinquent (As % of Total
        Receivables)
                        Current
                        30 to 59 days                                                                  ____________
                        60 to 89 days                                                                  ____________
                        90 or more days                                                                ____________
                                Total Receivables                                                      ____________
                                                                                                       ____________
(vii)   Investor Default Amount                             ____________________________________       ____________
(viii)  Investor Charge-Offs                                ____________________________________       ____________
(ix)    Reimbursed Investor Charge-Offs                     ____________________________________       ____________
(x)     Servicing Fee                                       ____________________________________       ____________
(xi)    Portfolio Yield (Net of Defaulted Receivables)                                                 ____________
(xii)   Reallocated Monthly Principal                                        ___________________       ____________
(xiii)  Closing Investor Interest                           ____________________________________       ____________
(xiv)   LIBOR
(xv)    Principal Funding Account Balance                                                              ____________
(xvi)   Accumulation Shortfall                                                                         ____________
(xvii)  Principal Funding Investment Proceeds                                                          ____________
(xviii) Principal Investment Funding Shortfall                                                         ____________
(xix)   Available Funds                                     ____________________________________       ____________
(xx)    Note Rate Class A
(xxi)   Note Rate Class B
(xxii)  Note Rate Class C
</TABLE>

<PAGE>

                                                                     EXHIBIT D

                   FORM OF TRANSFEREE REPRESENTATION LETTER

                                    [DATE]

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

The Bank of New York
Corporate Trust-ABS
101 Barclay Street, 8 West
New York, New York 10286

               Re: Chase Credit Card Master Trust, Series 2003-5
                   ---------------------------------------------

Ladies and Gentlemen:

          In connection with our proposed purchase of $1,000,000,000 in
principal amount of the Chase Credit Card Master Trust, Series 2003-5
Certificate (the "Certificate"), we confirm that:

          I. We have received such information and documentation as we deem
necessary in order to make our investment decision. We understand that such
information and documentation speaks only as of its date and that the
information contained therein may not be correct or complete as of any time
subsequent to such date.

          II. We agree to be bound by the restrictions and conditions relating
to the Certificate set forth in the Third Amended and Restated Pooling and
Servicing Agreement, dated as of November 15, 1999, as amended and as
supplemented by the Series 2003-5 Supplement dated as of September 30, 2003
(the "Series 2003-5 Supplement" and together with the Pooling and Servicing
Agreement, the "Pooling and Servicing Agreement"), each by and among Chase
USA, as Transferor on and after June 1, 1996, JPMorgan Chase Bank, as
Transferor prior to June 1, 1996 and as Servicer, and The Bank of New York, as
Trustee ("Trustee"), and agree to be bound by, and not to reoffer, resell,
pledge or otherwise transfer (any such act, a "Transfer") the Certificate
except in compliance with such restrictions and conditions including but not
limited to those in Section 17 of the Series 2003-5 Supplement.

          III. We agree that the Certificate may be reoffered, resold, pledged
or otherwise transferred only in compliance with the Securities Act of 1933,
as amended (the "Securities Act") and other applicable laws and only (i) to
the Transferor or (ii) to a limited number of institutional

                                      D-1

<PAGE>

"accredited investors" (as defined in Rule 501(a)(1), (2), (3) or (7) under
the Securities Act) and in a transaction exempt from the registration
requirements of the Securities Act (upon delivery of the documentation
required by the Pooling and Servicing Agreement and, if the Trustee so
requires, an opinion of counsel satisfactory to the Trustee).

          IV. We have neither acquired nor will we Transfer the Certificate we
acquire (or any interest therein) or cause any part of the Certificate (or any
interest therein) to be marketed on or through an "established securities
market" within the meaning of Section 7704(b)(1) of the Internal Revenue Code
of 1986, as amended (the "Code") and any treasury regulation thereunder,
including, without limitation, an over-the-counter-market or an interdealer
quotation system that regularly disseminates firm buy or sell quotations.

          V. We are not and will not become, for so long as we own any
interest in the Certificate, a partnership, Subchapter S corporation or
grantor trust for United States federal income tax purposes or, if we are such
a Person, the Certificate does not represent more than 50% of the value of all
of our assets.

          VI. We are a person who is either (A)(i) a citizen or resident of
the United States, (ii) a corporation or other entity organized in or under
the laws of the United States or any political subdivision thereof or (iii) a
person not described in (i) or (ii) whose ownership of the Certificate is
effectively connected with a such person's conduct of a trade or business
within the United States (within the meaning of the Code) or (B) an estate or
trust the income of which is includible in gross income for United States
federal income tax purposes. We agree that (a) if we are a person described in
clause (A)(i) or (A)(ii) above, we will furnish to the person from whom we are
acquiring an interest in the Certificate, the Servicer and the Trustee, a
properly executed U.S. Internal Revenue Service Form W-9 and a new Form W-9,
or any successor applicable form, upon the expiration or obsolescence of any
previously delivered form or (b) if we are a person described in clause
(A)(iii) above, we will furnish to the person from whom we are acquiring an
interest in the Certificate, the Servicer and the Trustee, a properly executed
U.S. Internal Revenue Service Form W-8ECI and a new Form W-8ECI , or any
successor applicable form, upon the expiration or obsolescence of any
previously delivered form (and, in each case, such other certifications,
representations or opinions of counsel as may be requested by the Trustee). We
recognize that if we are a tax-exempt entity, payments with respect to the
Certificate may constitute unrelated business taxable income.

          VII. We understand that a subsequent Transfer of the Certificate
will be void if such Transfer would cause the number of Targeted Holders (as
defined in the Series 2003-5 Supplement) to exceed ninety nine.

          VIII. We understand that the opinion of tax counsel that the Trust
is not a publicly traded partnership taxable as a corporation is dependent in
part on the accuracy of the representations in paragraphs 4 and 5.

          IX. We are an institutional "accredited investor" (as defined in
Rule 501(a)(1), (2), (3), or (7) of Regulation D under the Securities Act) and
have such knowledge and experience in financial and business matters as to be
capable of evaluating the merits and risks of our investment

                                      D-2

<PAGE>

in the Certificate, and we and any account for which we are acting are each
able to bear the economic risk of our or its investment.

          X. We are acquiring the Certificate purchased by us for our own
account or for a single account (each of which is an institutional "accredited
investor") as to which we exercise sole investment discretion.

          XI. We are not (a) an "employee benefit plan" (as defined in Section
3(3) of ERISA), including governmental plans and church plans, (b) a plan
described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as
amended (the "Code") including individual retirement accounts and Keogh plans,
or (c) any other entity whose underlying assets include "plan assets" (as
defined in United States Department of Labor ("DOL") Regulation Section
2510.3-101, 29 C.F.R. ss.2510.3-101 or otherwise under ERISA) by reason of a
plan's investment in the entity, including, without limitation, an insurance
company general account.

          XII. We understand that any purported Transfer of any portion of the
Certificate in contravention of the restrictions and conditions in paragraphs
1 through 11 above (including any violation of the representation in paragraph
5 by an investor who continues to hold an interest in the Certificate
occurring any time after the Transfer in which it acquired such Certificate)
shall be null and void and the purported transferee shall not be recognized by
the Trust or any other person as a Certificate Holder for any purpose.

          XIII. We further understand that, on any proposed resale, pledge or
transfer of the Certificate, we will be required to furnish to the Trustee and
the Registrar, such certifications and other information as the Trustee or the
Registrar may reasonably require to confirm that the proposed sale complies
with the foregoing restrictions and with the restrictions and conditions of
the Certificate and the Pooling and Servicing Agreement pursuant to which the
Certificate was issued and we agree that if we determine to Transfer the
Certificate, we will cause our proposed transferee to provide the Transferor,
the Servicer and the Trustee with a letter substantially in the form of this
letter. We further understand that the Certificate purchased by us will bear a
legend to the foregoing effect.

         XIV. The person signing this letter on behalf of the ultimate
beneficial purchaser of the Certificate has been duly authorized by such
beneficial purchaser of the Certificate to do so.

          You are entitled to rely upon this letter and are irrevocably
authorized to produce this letter or a copy hereof to any interested party in
any administrative or legal proceeding or official inquiry with respect to the
matters covered hereby.

                              Very truly yours,

                              [full legal name of purchaser]

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

                                      D-3

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