Document:

Form of Medium-Term Notes, Series K

 Exhibit 4.1 

[Face of Note] 

Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as requested by an authorized representative
of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein. 
  

	 CUSIP NO. 94986R6E6 
	
FACE AMOUNT: $                   
  

 REGISTERED NO.      

WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 

Due Nine Months or More From Date of Issue 

Principal at Risk Securities Linked to the 

SPDR® S&P 500® ETF
Trust due November 25, 2019 
 WELLS FARGO & COMPANY, a corporation duly organized and existing under the
laws of the State of Delaware (hereinafter called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or
registered assigns, an amount equal to the Redemption Amount (as defined below), in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, on the Stated Maturity Date.
The “Initial Stated Maturity Date” shall be November 25, 2019. If the Calculation Day (as defined below) is not postponed, the Initial Stated Maturity Date will be the “Stated Maturity Date.” If the Calculation
Day is postponed, the “Stated Maturity Date” shall be the later of (i) the Initial Stated Maturity Date and (ii) the third Business Day (as defined below) after the Calculation Day as postponed. This Security shall not
bear any interest. 
 Any payments on this Security at Maturity will be made against presentation of this Security at the
office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota and at any other office or agency maintained by the Company for such purpose. 

“Face Amount” shall mean, when used with respect to this Security, the amount set forth on the face of this
Security as its “Face Amount.” 

 Determination of Redemption Amount 

The “Redemption Amount” of this Security will equal: 

 

	 	•	 	 if the Ending Price is greater than the Starting Price: the lesser of: 

(i) the Face Amount plus: 
  

																															
		 		 		 		 		 		 		 		 		 		 		 		 		 		 		 	
		 		 		 	 	 	Face Amount  x  	 	 	 	Ending Price – Starting Price	 	 	 	  x Participation Rate
	 	 	 	  ; and
	 		 		 		 		 	
		 		 		 	 	 	 	 	 	Starting Price	 	 	 	 	 	 	 		 		 	 		 	

 (ii) the Capped Value; 

 

	 	•	 	 if the Ending Price is less than or equal to the Starting Price, but greater than or equal to the Threshold
Price: the Face Amount; or 

  

	 	•	 	 if the Ending Price is less than the Threshold Price: the Face Amount minus: 

 

																											
		 		 		 		 		 		 		 		 		 		 		 		 		 	
		 		 		 		 	 	 	Face Amount	 	  x    	 	Threshold Price – Ending Price	 	 	 		 		 		 		 	
		 		 		 		 	 	 	 	 	Starting Price	 	 	 		 		 		 		 	

 All calculations with respect to the Redemption Amount will be rounded to the nearest one hundred-thousandth,
with five one-millionths rounded upward (e.g., 0.000005 would be rounded to 0.00001); and the Redemption Amount will be rounded to the nearest cent, with one-half cent rounded upward. 

The “Fund” shall mean the SPDR S&P 500 ETF Trust. 

The “Pricing Date” shall mean May 16, 2017. 

The “Starting Price” is $240.08, the Fund Closing Price of the Fund on the Pricing Date. 

The “Ending Price” will be the Fund Closing Price of the Fund on the Calculation Day. 

The “Fund Closing Price” with respect to the Fund on any Trading Day means the product of (i) the
Closing Price of one share of the Fund (or one unit of any other security for which a Fund Closing Price must be determined) on such Trading Day and (ii) the Adjustment Factor applicable to the Fund on such Trading Day. 

The “Closing Price” with respect to a share of the Fund (or one unit of any other security for which a
Closing Price must be determined) on any Trading Day means the price, at the scheduled weekday closing time, without regard to after hours or any other trading outside the regular trading session hours, of the share on the principal United States
securities exchange registered under the Securities Exchange Act of 1934, as amended, on which the share (or any such other security) is listed or admitted to trading. 

  
 2 

 The “Adjustment Factor” means, with respect to a share of the
Fund (or one unit of any other security for which a Fund Closing Price must be determined), 1.0, subject to adjustment in the event of certain events affecting the shares of the Fund. See “—Anti-dilution Adjustments Relating to the Fund;
Alternate Calculation —Anti-dilution Adjustments” below. 
 The “Threshold Price” is $216.072,
which is equal to 90% of the Starting Price. 
 The “Participation Rate” is 150%. 

The “Capped Value” is 124% of the Face Amount of this Security. 

The “Underlying Index” shall mean the S&P 500 Index. 

“Business Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day
on which banking institutions are authorized or required by law or regulation to close in New York, New York. 
 A
“Trading Day” with respect to the Fund means a day, as determined by the Calculation Agent, on which the Relevant Stock Exchange (as defined below) and each Related Futures or Options Exchange (as defined below) with respect to the
Fund, or any successor thereto, if applicable, are scheduled to be open for trading for their respective regular trading sessions. 

The “Relevant Stock Exchange” for the Fund means the primary exchange or quotation system on which shares (or
other applicable securities) of the Fund are traded, as determined by the Calculation Agent. 
 The “Related Futures
or Options Exchange” for the Fund means each exchange or quotation system where trading has a material effect (as determined by the Calculation Agent) on the overall market for futures or options contracts relating to the Fund. 

The “Calculation Day” shall be November 18, 2019. If such day is not a Trading Day, the Calculation Day
will be postponed to the next succeeding Trading Day. The Calculation Day is also subject to postponement due to the occurrence of a Market Disruption Event (as defined below). If a Market Disruption Event occurs or is continuing with respect to the
Fund on the Calculation Day, such Calculation Day will be postponed to the first succeeding Trading Day on which a Market Disruption Event has not occurred and is not continuing; however, if such first succeeding Trading Day has not occurred as of
the eighth Trading Day after the originally scheduled Calculation Day, that eighth Trading Day shall be deemed the Calculation Day. If the Calculation Day has been postponed eight Trading Days after the originally scheduled Calculation Day and a
Market Disruption Event occurs or is continuing with respect to the Fund on such eighth Trading Day, the Calculation Agent will determine the Closing Price of the Fund on such eighth Trading Day based on its good faith estimate of the value of the
shares (or other applicable securities) of the Fund as of the Close of Trading (as defined below) on such eighth Trading Day. See “—Market Disruption Events.” 

“Calculation Agent Agreement” shall mean the Calculation Agent Agreement dated as of March 18, 2015
between the Company and the Calculation Agent, as amended from time to time. 

  
 3 

 “Calculation Agent” shall mean the Person that has entered into
the Calculation Agent Agreement with the Company providing for, among other things, the determination of the Ending Price and the Redemption Amount, which term shall, unless the context otherwise requires, include its successors under such
Calculation Agent Agreement. The initial Calculation Agent shall be Wells Fargo Securities, LLC. Pursuant to the Calculation Agent Agreement, the Company may appoint a different Calculation Agent from time to time after the initial issuance of this
Security without the consent of the Holder of this Security and without notifying the Holder of this Security. 
 Market Disruption Events

 A “Market Disruption Event” means, with respect to the Fund, any of the following events as
determined by the Calculation Agent in its sole discretion: 
  

	 	(A)	 The occurrence or existence of a material suspension of or limitation imposed on trading by the Relevant Stock
Exchange or otherwise relating to the shares (or other applicable securities) of the Fund or any Successor Fund (as defined below) on the Relevant Stock Exchange at any time during the one-hour period that ends at the Close of Trading on such day,
whether by reason of movements in price exceeding limits permitted by such Relevant Stock Exchange or otherwise. 

  

	 	(B)	 The occurrence or existence of a material suspension of or limitation imposed on trading by any Related
Futures or Options Exchange or otherwise in futures or options contracts relating to the shares (or other applicable securities) of the Fund or any Successor Fund on any Related Futures or Options Exchange at any time during the one-hour period that
ends at the Close of Trading on that day, whether by reason of movements in price exceeding limits permitted by the Related Futures or Options Exchange or otherwise. 

 

	 	(C)	 The occurrence or existence of any event, other than an early closure, that materially disrupts or impairs the
ability of market participants in general to effect transactions in, or obtain market values for, shares (or other applicable securities) of the Fund or any Successor Fund on the Relevant Stock Exchange at any time during the one-hour period that
ends at the Close of Trading on that day. 

  

	 	(D)	 The occurrence or existence of any event, other than an early closure, that materially disrupts or impairs the
ability of market participants in general to effect transactions in, or obtain market values for, futures or options contracts relating to shares (or other applicable securities) of the Fund or any Successor Fund on any Related Futures or Options
Exchange at any time during the one-hour period that ends at the Close of Trading on that day. 

  

	 	(E)	 The closure of the Relevant Stock Exchange or any Related Futures or Options Exchange with respect to the Fund
or any Successor Fund prior to its Scheduled Closing Time unless the earlier closing time is announced by the Relevant Stock Exchange or Related Futures or Options Exchange, as applicable, at least one hour prior to the earlier of (1) the
actual closing time for the regular trading 

  
 4 

 
session on such Relevant Stock Exchange or Related Futures or Options Exchange, as applicable, and (2) the submission deadline for orders to be entered into the Relevant Stock Exchange or
Related Futures or Options Exchange, as applicable, system for execution at the Close of Trading on that day. 
  

	 	(F)	 The Relevant Stock Exchange or any Related Futures or Options Exchange with respect to the Fund or any
Successor Fund fails to open for trading during its regular trading session. 

 For purposes of
determining whether a Market Disruption Event has occurred: 
  

	 	(1)	 “Close of Trading” means the Scheduled Closing Time of the Relevant Stock Exchange with
respect to the Fund or any Successor Fund; and 

  

	 	(2)	 the “Scheduled Closing Time” of the Relevant Stock Exchange or any Related Futures or Options
Exchange on any Trading Day for the Fund or any Successor Fund means the scheduled weekday closing time of such Relevant Stock Exchange or Related Futures or Options Exchange on such Trading Day, without regard to after hours or any other trading
outside the regular trading session hours. 

 Anti-dilution Adjustments Relating to the Fund; Alternate Calculation 

Anti-dilution Adjustments 

The Calculation Agent will adjust the Adjustment Factor with respect to the Fund as specified below if any of the events
specified below occurs with respect to the Fund and the effective date or ex-dividend date, as applicable, for such event is after the Pricing Date and on or prior to the Calculation Day. 

The adjustments specified below do not cover all events that could affect the Fund. The Calculation Agent may, in its sole
discretion, make additional adjustments to any terms of this Security upon the occurrence of other events that affect or could potentially affect the market price of, or shareholder rights in, the Fund, with a view to offsetting, to the extent
practical, any such change, and preserving the relative investment risks of this Security. In addition, the Calculation Agent may, in its sole discretion, make adjustments or a series of adjustments that differ from those described herein if the
Calculation Agent determines that such adjustments do not properly reflect the economic consequences of the events specified herein or would not preserve the relative investment risks of this Security. All determinations made by the Calculation
Agent in making any adjustments to the terms of this Security, including adjustments that are in addition to, or that differ from, those described herein, will be made in good faith and a commercially reasonable manner, with the aim of ensuring an
equitable result. In determining whether to make any adjustment to the terms of this Security, the Calculation Agent may consider any adjustment made by the Options Clearing Corporation or any other equity derivatives clearing organization on
options contracts on the Fund. 
 For any event described below, the Calculation Agent will not be required to adjust the
Adjustment Factor unless the adjustment would result in a change to the Adjustment Factor then 

  
 5 

 
in effect of at least 0.10%. The Adjustment Factor resulting from any adjustment will be rounded up or down, as appropriate, to the nearest one-hundred thousandth. 

 

	 	(A)	 Stock Splits and Reverse Stock Splits 

 

	 	    	 If a stock split or reverse stock split has occurred, then once such split has become effective, the
Adjustment Factor will be adjusted to equal the product of the prior Adjustment Factor and the number of securities which a holder of one share (or other applicable security) of the Fund before the effective date of such stock split or reverse stock
split would have owned or been entitled to receive immediately following the applicable effective date. 

  

	 	(B)	 Stock Dividends 

 

	 	    	 If a dividend or distribution of shares (or other applicable securities) to which this Security is linked has
been made by the Fund ratably to all holders of record of such shares (or other applicable security), then the Adjustment Factor will be adjusted on the ex-dividend date to equal the prior Adjustment Factor plus the product of the prior Adjustment
Factor and the number of shares (or other applicable security) of the Fund which a holder of one share (or other applicable security) of the Fund before the ex-dividend date would have owned or been entitled to receive immediately following that
date; provided, however, that no adjustment will be made for a distribution for which the number of securities of the Fund paid or distributed is based on a fixed cash equivalent value. 

 

	 	(C)	 Extraordinary Dividends 

 

	 	    	 If an Extraordinary Dividend (as defined below) has occurred, then the Adjustment Factor will be adjusted on
the ex-dividend date to equal the product of the prior Adjustment Factor and a fraction, the numerator of which is the Closing Price per share (or other applicable security) of the Fund on the Trading Day preceding the ex-dividend date, and the
denominator of which is the amount by which the Closing Price per share (or other applicable security) of the Fund on the Trading Day preceding the ex-dividend date exceeds the Extraordinary Dividend Amount (as defined below). 

 

	 	    	 For purposes of determining whether an Extraordinary Dividend has occurred: 

 

	 	(1)	 “Extraordinary Dividend” means any cash dividend or distribution (or portion thereof) that
the Calculation Agent determines, in its sole discretion, is extraordinary or special; and 

  

	 	(2)	 “Extraordinary Dividend Amount” with respect to an Extraordinary Dividend for the securities
of the Fund will equal the amount per share (or other applicable security) of the Fund of the applicable cash dividend or distribution that is attributable to the Extraordinary Dividend, as determined by the Calculation Agent in its sole discretion.

  
 6 

	 	    	 A distribution on the securities of the Fund described below under the section entitled
“—Reorganization Events” below that also constitutes an Extraordinary Dividend will only cause an adjustment pursuant to that “—Reorganization Events” section. 

 

	 	(D)	 Other Distributions 

 

	 	    	 If the Fund declares or makes a distribution to all holders of the shares (or other applicable security) of
the Fund of any non-cash assets, excluding dividends or distributions described under the section entitled “—Stock Dividends” above, then the Calculation Agent may, in its sole discretion, make such adjustment (if any) to the
Adjustment Factor as it deems appropriate in the circumstances. If the Calculation Agent determines to make an adjustment pursuant to this paragraph, it will do so with a view to offsetting, to the extent practical, any change in the economic
position of a holder of this Security that results solely from the applicable event. 

  

	 	(E)	 Reorganization Events 

 

	 	    	 If the Fund, or any Successor Fund, is subject to a merger, combination, consolidation or statutory exchange
of securities with another exchange traded fund, and the Fund to which this Security is linked is not the surviving entity (a “Reorganization Event”), then, on or after the date of such event, the Calculation Agent shall, in its
sole discretion, make an adjustment to the Adjustment Factor or the method of determining the Redemption Amount or any other terms of this Security as the Calculation Agent determines appropriate to account for the economic effect on this Security
of such event, and determine the effective date of that adjustment. If the Calculation Agent determines that no adjustment that it could make will produce a commercially reasonable result, then the Calculation Agent may deem such event a Liquidation
Event (as defined below). 

 Liquidation Events 

If the Fund is de-listed, liquidated or otherwise terminated (a “Liquidation Event”), and a successor or
substitute exchange traded fund exists that the Calculation Agent determines, in its sole discretion, to be comparable to the Fund, then, upon the Calculation Agent’s notification of that determination to the Trustee and the Company, any
subsequent Fund Closing Price for the Fund will be determined by reference to the Fund Closing Price of such successor or substitute exchange traded fund (such exchange traded fund being referred to herein as a “Successor Fund”),
with such adjustments as the Calculation Agent determines are appropriate to account for the economic effect of such substitution on the holder of this Security. 

If the Fund undergoes a Liquidation Event prior to, and such Liquidation Event is continuing on, the date that any Fund
Closing Price of the Fund is to be determined and the Calculation Agent determines that no Successor Fund is available at such time, then the Calculation Agent will, in its discretion, calculate the Fund Closing Price for the Fund on such date by a
computation methodology that the Calculation Agent determines will as closely as 

  
 7 

 
reasonably possible replicate the Fund, provided that if the Calculation Agent determines in its discretion that it is not practicable to replicate the Fund (including but not limited to the
instance in which the sponsor of the index underlying the Fund discontinues publication of that index), then the Calculation Agent will calculate the Fund Closing Price for the Fund in accordance with the formula last used to calculate such Fund
Closing Price before such Liquidation Event, but using only those securities that were held by the Fund immediately prior to such Liquidation Event without any rebalancing or substitution of such securities following such Liquidation Event. 

If a Successor Fund is selected or the Calculation Agent calculates the Fund Closing Price as a substitute for the Fund, such
Successor Fund or Fund Closing Price will be used as a substitute for the Fund for all purposes, including for purposes of determining whether a Market Disruption Event exists. 

If any event is both a Reorganization Event and a Liquidation Event, such event will be treated as a Reorganization Event for
purposes of this Security unless the Calculation Agent makes the determination referenced in the last sentence of the section entitled “—Anti-dilution Adjustments—Reorganization Events” above. 

Alternate Calculation 

If at any time the method of calculating the Fund or a Successor Fund, or the Underlying Index, is changed in a material
respect, or if the Fund or a Successor Fund is in any other way modified so that the Fund does not, in the opinion of the Calculation Agent, fairly represent the price of the securities of the Fund or such Successor Fund had such changes or
modifications not been made, then the Calculation Agent may, at the close of business in New York City on the date that any Fund Closing Price is to be determined, make such calculations and adjustments as, in the good faith judgment of the
Calculation Agent, may be necessary in order to arrive at a Closing Price of an exchange traded fund comparable to the Fund or such Successor Fund, as the case may be, as if such changes or modifications had not been made, and calculate the Fund
Closing Price and the Redemption Amount with reference to such adjusted Closing Price of the Fund or such Successor Fund, as applicable. 

Calculation Agent 

The Calculation Agent will determine the Redemption Amount and the Ending Price. In addition, the Calculation Agent will
(i) determine if adjustments are required to the Fund Closing Price and/or the Adjustment Factor under the circumstances described in this Security, (ii) if the Fund undergoes a Liquidation Event, select a Successor Fund or, if no
Successor Fund is available, determine the Fund Closing Price of the Fund, and (iii) determine whether a Market Disruption Event or non-Trading Day has occurred. 

The Company covenants that, so long as this Security is Outstanding, there shall at all times be a Calculation Agent (which
shall be a broker-dealer, bank or other financial institution) with respect to this Security. 

  
 8 

 All determinations made by the Calculation Agent with respect to this Security
will be at the sole discretion of the Calculation Agent and, in the absence of manifest error, will be conclusive for all purposes and binding on the Company and the Holder of this Security. 

Tax Considerations 

The Company agrees, and by acceptance of a beneficial ownership interest in this Security each Holder of this Security will be
deemed to have agreed (in the absence of a statutory, regulatory, administrative or judicial ruling to the contrary), for United States federal income tax purposes to treat this Security as a prepaid derivative contract that is an “open
transaction.” 
 Redemption and Repayment 

This Security is not subject to redemption at the option of the Company or repayment at the option of the Holder hereof prior
to November 25, 2019. This Security is not entitled to any sinking fund. 
 Acceleration 

If an Event of Default, as defined in the Indenture, with respect to this Security shall occur and be continuing, the
Redemption Amount (calculated as set forth in the next sentence) of this Security may be declared due and payable in the manner and with the effect provided in the Indenture. The amount payable to the Holder hereof upon any acceleration permitted
under the Indenture will be equal to the Redemption Amount hereof calculated as provided herein as though the date of acceleration was the Calculation Day. 
  

 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions
shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication
hereon has been executed by the Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose. 
 [The remainder of this page has been left intentionally blank] 

  
 9 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed
under its corporate seal. 
 DATED: 
  

					
	WELLS FARGO & COMPANY

 
					
		
	By:	 	 
		 	
		 	Its:	 	 

 [SEAL] 
  

					
	Attest:	 	 
		 	
	Its:	 	 

  

			
	 TRUSTEE’S CERTIFICATE OF

AUTHENTICATION
 This is one of the Securities of the

series designated therein described
 in the within-mentioned Indenture.

	
	 CITIBANK, N.A.,

      as Trustee

			
		
	By:	 	 
		 	Authorized Signature

			
	
	OR
	
	 WELLS FARGO BANK, N.A.,

  as Authenticating Agent for the Trustee

			
		
	By:	 	 
		 	Authorized Signature

  
 10 

 [Reverse of Note] 

WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 

Due Nine Months or More From Date of Issue 

Principal at Risk Securities Linked to the 

SPDR® S&P 500® ETF
Trust due November 25, 2019 
 This Security is one of a duly authorized issue of securities of the Company (herein
called the “Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein called the “Indenture”), between the
Company and Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement
of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This
Security is one of the series of the Securities designated as Medium-Term Notes, Series K, of the Company, which series is limited to an aggregate principal amount or face amount, as applicable, of $25,000,000,000 or the equivalent thereof in
one or more foreign or composite currencies. The amount payable on the Securities of this series may be determined by reference to the performance of one or more equity-, commodity- or currency-based indices, exchange traded funds, securities,
commodities, currencies, statistical measures of economic or financial performance, or a basket comprised of two or more of the foregoing, or any other market measure or may bear interest at a fixed rate or a floating rate. The Securities of this
series may mature at different times, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all and be denominated in different currencies. 

Article Sixteen of the Indenture shall not apply to this Security. 

The Securities are issuable only in registered form without coupons and will be either
(a) book-entry securities represented by one or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated
securities issued to and registered in the names of, the beneficial owners or their nominees. 
 The Company agrees, to the
extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of interest against a Holder of this Security. 

Modification and Waivers 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the 

  
 11 

 
time Outstanding of all series to be affected, acting together as a class. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of all
series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain
past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such
series. Solely for the purpose of determining whether any consent, waiver, notice or other action or Act to be taken or given by the Holders of Securities pursuant to the Indenture has been given or taken by the Holders of Outstanding Securities in
the requisite aggregate principal amount, the principal amount of this Security will be deemed to be equal to the amount set forth on the face hereof as the “Face Amount” hereof. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. 
 Defeasance 

Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of
the Indenture, relating to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth
therein, shall not apply to this Security. The remaining provisions of Section 401 of the Indenture shall apply to this Security. 
 Authorized
Denominations 
 This Security is issuable only in registered form without coupons in denominations of $1,000 or any
amount in excess thereof which is an integral multiple of $1,000. 
 Registration of Transfer 

Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of
Minneapolis, Minnesota, a new Security or Securities of this series, with the same terms as this Security, in authorized denominations for an equal aggregate Face Amount will be issued to the transferee in exchange herefor, as provided in the
Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in connection therewith. 

This Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the
Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not
appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form
and notifies the Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for
definitive Securities in registered 

  
 12 

 
form, having the same date of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 

This Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the
Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above, owners of beneficial interests in this Global
Security will not be entitled to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Obligation of the Company Absolute 

No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the Redemption Amount at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 

No Personal Recourse 

No recourse shall be had for the payment of the Redemption Amount, or for any claim based hereon, or otherwise in respect
hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of
any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released.

 Defined Terms 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture
unless otherwise defined in this Security. 
 Governing Law 

This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to
principles of conflicts of laws. 

  
 13 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they
were written out in full according to applicable laws or regulations: 
  

					
	 TEN COM
	 	  -- 
	 	 as tenants in common

			
	 TEN ENT
	 	  -- 
	 	 as tenants by the entireties

			
	 JT TEN
	 	  -- 
	 	 as joint tenants with right

of survivorship and not
 as
tenants in common

  

									
	 UNIF GIFT MIN ACT
	 	  -- 
	 	 	 	 Custodian
	 	 
		 		 	(Cust)	 		 	(Minor)

  

	
	Under Uniform Gifts to Minors Act
	
	   

	(State)

 Additional abbreviations may also be used though not in the above list. 

FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 

 

	
	 Please Insert Social Security or
 Other
Identifying Number of Assignee

	
	   

  
  

 
  
  

 
 (PLEASE
PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE)

  
 14 

 the within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute and
appoint                                      attorney to
transfer the said Security on the books of the Company, with full power of substitution in the premises. 
 Dated:
                                         
        
  

	
	   

  

	
	   

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the
within instrument in every particular, without alteration or enlargement or any change whatever. 

  
 15EXHIBIT 4.4

 

BARCLAYS DRYROCK ISSUANCE TRUST

as Issuer

and

U.S. BANK NATIONAL ASSOCIATION

as Indenture Trustee and as Securities Intermediary

SERIES 2017-1 INDENTURE SUPPLEMENT

dated as of May 23, 2017

to

INDENTURE

    	 

    	 

    

Table
of Contents

 

Page

	Article I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	1
	 	Section 1.01.	Definitions	1
	 	Section 1.02.	Governing Law; Consent to Jurisdiction; Waiver of Jury Trial	14
	 	Section 1.03.	Counterparts	15
	 	Section 1.04.	Ratification of Indenture	15
	Article II THE NOTES	15
	 	Section 2.01.	Designation	15
	 	Section 2.02.	Issuance of Series 2017-1 Notes	16
	 	Section 2.03.	Documentation	16
	Article III SERVICING COMPENSATION	17
	 	Section 3.01.	Servicing Compensation	17
	Article IV RIGHTS OF SERIES 2017-1 NOTEHOLDERS AND ALLOCATION AND APPLICATION OF COLLECTIONS	17
	 	Section 4.01.	Collections and Allocations	17
	 	Section 4.02.	Determination of Series 2017-1 Monthly Interest	18
	 	Section 4.03.	Determination of Series 2017-1 Monthly Principal	19
	 	Section 4.04.	Application of Series 2017-1 Available Finance Charge Collections on Deposit in the Collection Account	19
	 	Section 4.05.	Application of Series 2017-1 Available Principal Collections	21
	 	Section 4.06.	Principal Funding Account; Controlled Accumulation Period	22
	 	Section 4.07.	Investor Charge-Offs	24
	 	Section 4.08.	Reallocated Principal Collections	24
	 	Section 4.09.	Shared Excess Available Finance Charge Collections	24
	 	Section 4.10.	Shared Excess Available Principal Collections	25
	 	Section 4.11.	Accumulation Reserve Account	25
	 	Section 4.12.	Investment Instructions	27
	 	Section 4.13.	Determination of LIBOR	28
	 	Section 4.14.	Sale of Collateral for Series 2017-1 Notes That are Accelerated or Reach Legal Maturity	28
	 	Section 4.15.	Distribution Account	30
	 	Section 4.16.	Delinquency Trigger Percentage	30
	 	Section 4.17.	Asset Review	30

    	i

    	 

    

 

Table
of Contents

(continued)

	 	 		Page
	Article V EARLY AMORTIZATION OF NOTES	32
	 	Section 5.01.	Early Amortization Events	32
	 	Section 5.02.	Early Redemption Event	33
	Article VI LEGAL MATURITY; FINAL PAYMENTS	34
	 	Section 6.01.	Legal Maturity	34
	Article VII DELIVERY OF SERIES 2017-1 NOTES; DISTRIBUTIONS AND REPORTS TO SERIES 2017-1 NOTEHOLDERS	34
	 	Section 7.01.	Form of Delivery for the Series 2017-1 Notes; Depository; Denominations	34
	 	Section 7.02.	Delivery and Payment for the Series 2017-1 Notes	34
	 	Section 7.03.	Distributions	35
	 	Section 7.04.	Reports and Statements to Series 2017-1 Noteholders	35
	 	Section 7.05.	Restrictions on Transfer of the Class B Notes	37
	Article VIII MISCELLANEOUS PROVISIONS	37
	 	Section 8.01.	Non-petition Covenant	37
	 	Section 8.02.	Actions by the Issuer	38
	 	Section 8.03.	Limitations on Liability	38
	 	Section 8.04.	FATCA	38
	 	Section 8.05.	[RESERVED]	39
	 	Section 8.06.	Amendments	39
	 	Section 8.07.	Class B Notes	39
	 	Section 8.08.	Appointment of Asset Representations Reviewer	39
	 	Section 8.09.	Dispute Resolution	40
	 	Section 8.10.	Investor Communication	41
	 	Section 8.11.	Tax Retained Notes	41
	 	Section 8.12.	Regulation RR	42
	Article IX INSOLVENCY PROCEEDING WITH RESPECT TO BBD	42
	 	Section 9.01.	Actions Upon Repudiation	42
	 	Section 9.02.	Notice	44
	 	Section 9.03.	Reservation of Rights	44

    	ii

    	 

    

 

Table
of Contents

(continued)

 

	 	Page
	 	 
	Exhibits	 
	 	 
	EXHIBIT A-1	[FORM OF] CLASS A NOTE
	EXHIBIT A-2	[FORM OF] CLASS B NOTE
	EXHIBIT B-1	[FORM OF] MONTHLY NOTEHOLDERS’ STATEMENT
	EXHIBIT B-2	[FORM OF] ANNUAL PAYMENT INFORMATION
	EXHIBIT B-3	[FORM OF] DAILY SERVICER’S STATEMENT
	EXHIBIT C	[FORM OF] MONTHLY SERVICER’S CERTIFICATE

 

    	iii

    	 

    

SERIES 2017-1 INDENTURE
SUPPLEMENT, dated as of May 23, 2017 (this “Indenture Supplement”), by and between BARCLAYS DRYROCK ISSUANCE
TRUST, a statutory trust organized under the laws of the State of Delaware (the “Issuer”), having its principal
office at Rodney Square North, 1100 North Market St., Wilmington, DE 19890, and U.S. BANK NATIONAL ASSOCIATION, a national banking
association, in its capacity as Indenture Trustee (the “Indenture Trustee”) and as Securities Intermediary.

Pursuant to this
Indenture Supplement, the Issuer shall create a new Series of Notes and shall specify the principal terms thereof. The Issuer has
tendered the notice of issuance required by Section 4.10(a)(i) of the Indenture and this Indenture Supplement is being entered
into by and between the Issuer and the Indenture Trustee as required by Section 4.10(a)(viii) of the Indenture to provide for the
issuance, authentication and delivery of each of the Class A Notes, Series 2017-1 and the Class B Notes, Series 2017-1.

The transactions
set forth in this Indenture Supplement, together with the Transaction Documents, shall be an arm’s length, bona fide securitization
transaction.

Article
I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

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

(1)              
the terms defined in this Article have the meanings assigned to them in this Article, and, along with any other term defined
in any Section of this Indenture Supplement, apply to the singular as well as the plural forms of such terms and to the masculine
as well as to the feminine and neuter gender of such terms;

(2)              
all other terms used herein which are defined in the Indenture, the Transfer Agreement or the Servicing Agreement, either
directly or by reference therein, have the meanings assigned to them therein;

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

(4)              
all references in this Indenture Supplement to designated “Articles,” “Sections” and other subdivisions
are to the designated Articles, Sections and other subdivisions of this Indenture Supplement. The words “herein,” “hereof”
and “hereunder” and other words of similar import refer to this Indenture Supplement as a whole and not to any particular
Article, Section or other subdivision;

(5)              
in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision
contained in the Indenture, the Transfer Agreement

    	 

    	 

    

or the Servicing Agreement, the terms
and provisions of this Indenture Supplement shall be controlling;

(6)              
each capitalized term defined herein shall relate only to the Series 2017-1 Notes and no other Series of Notes issued by
the Issuer; and

(7)              
“including” and words of similar import shall be deemed to be followed by “without limitation.”

“Accumulation
Reserve Account” has the meaning specified in Section 4.11(a).

“Accumulation
Reserve Account Funding Period” means a period commencing on the first Payment Date on which a condition in the right
column of the following table was in effect on the immediately preceding Payment Date, if the Payment Date is a Payment Date described
in the corresponding left column of the following table, and ending on the earliest to occur of: (i) the day on which the Allocation
Amount is reduced to zero, (ii) the first Payment Date with respect to the Early Amortization Period, (iii) the Expected Final
Payment Date and (iv) the termination of the Trust pursuant to the Trust Agreement; provided, that if the Controlled Accumulation
Period Length is determined to be one (1) month, there shall be no Accumulation Reserve Account Funding Period.

	Payment Date:	Condition:
	(a)  The Payment Date occurring three (3) calendar months prior to the first Payment Date of the Controlled Accumulation Period (as adjusted in accordance with Section 4.06(c) hereof) and any following Payment Date	The Quarterly Excess Spread Percentage is greater than or equal to 4%.
	(b)  The Payment Date occurring four (4) calendar months prior to the first Payment Date of the Controlled Accumulation Period (as adjusted in accordance with Section 4.06(c) hereof) and any following Payment Date	The Quarterly Excess Spread Percentage is less than 4% but greater than or equal to 3%.
	(c)  The Payment Date occurring six (6) calendar months prior to the first Payment Date of the Controlled Accumulation Period (as adjusted in accordance with Section 4.06(c) hereof) and any following Payment Date	The Quarterly Excess Spread Percentage is less than 3% but greater than or equal to 2%.
	(d)  The Payment Date occurring twelve (12) calendar months prior to the first Payment Date of the Controlled Accumulation Period (as adjusted in accordance with Section 4.06(c) hereof) and any following Payment Date	The Quarterly Excess Spread Percentage is less than 2%.

    	 	2	 

     

    

 

 

“Accumulation
Reserve Account Surplus” means, as of any date of determination, the amount, if any, by which the amount on deposit in
the Accumulation Reserve Account exceeds the Required Accumulation Reserve Account Amount.

“Accumulation
Reserve Draw Amount” has the meaning specified in Section 4.11(c).

“Additional
Interest” means, with respect to any Payment Date, any Class A Additional Interest and any Class B Additional Interest
for such Payment Date.

“Adjusted
Outstanding Dollar Principal Amount” means, as of any date of determination, the Outstanding Dollar Principal Amount
of the Series 2017-1 Notes on such date of determination, less any funds then on deposit with respect to principal in the Supplemental
Issuer Accounts for the benefit of such Series 2017-1 Notes on such date of determination.

“Administrator”
means BBD, in its capacity as administrator of the Issuer, and any permitted successors or assigns thereto.

“Aggregate
Series Available Finance Charge Collections Shortfall” means, with respect to any Monthly Period as determined on the
related Note Transfer Date, the sum of the Series Available Finance Charge Collections Shortfalls (as such term is defined in each
of the applicable Indenture Supplements) for each Shared Excess Available Finance Charge Collections Series in Shared Excess Available
Finance Charge Collections Group One for such Monthly Period.

“Aggregate
Series Available Principal Collections Shortfall” means, with respect to any Monthly Period as determined on the related
Note Transfer Date, the sum of the Series Available Principal Collections Shortfalls (as such term is defined in each of the applicable
Indenture Supplements) for each Shared Excess Available Principal Collections Series in Shared Excess Available Principal Collections
Group One for such Monthly Period.

“Allocation
Amount” means, as of the Closing Date, the Series 2017-1 Stated Principal Amount and on any date of determination thereafter,
the sum of, without duplication, (a) the Allocation Amount determined as of the later of the Closing Date or the date of determination
immediately prior to the then current date of determination, plus (b) the amount of all increases in the Series 2017-1 Stated
Principal Amount resulting from the issuance of additional Series 2017-1 Notes since the prior date of determination, plus
(c) all reimbursements, as provided in Section 4.04(e) or otherwise, of reductions in the Allocation Amount due to Investor
Charge-Offs or Reallocated Principal Collections since the prior date of determination, minus (d) the amount of the reduction in
the Allocation Amount due to Investor Charge-Offs since the prior date of determination, determined as set forth in Section
4.07, minus (e) the amount of the reduction in the Allocation Amount due to the application of Reallocated Principal Collections
since the prior date of determination, determined as set forth in Section 4.08, minus (f) the amount deposited into the
Principal Funding Account or (without duplication) deposited into the Distribution Account pursuant to Section 4.05(c) or
paid to the Series 2017-1 Noteholders (in each case, after giving effect to any deposits, allocations, reallocations or withdrawals
to be made on that day) since the prior date of determination; provided, however, that (1) the Allocation Amount may never be less
than zero, (2) the Allocation Amount may never be greater

    	 	3	 

     

    

than the Adjusted Outstanding Dollar Principal Amount and (3) if there
is a sale of Collateral in accordance with Section 4.14, the Allocation Amount will be reduced to zero upon such sale.

“Applicable
Distribution Date” has the meaning specified in Section 9.01(b).

“ARR Representations
and Warranties” means the representations and warranties set forth on Exhibit A to the Asset Representations Reviewer
Agreement.

“ARR Review”
has the meaning specified in Section 4.17(a).

“Asset Representations
Reviewer” means the Person appointed by the Issuer to perform an ARR Review pursuant to an asset representations reviewer
agreement, which shall initially be Clayton Fixed Income Services LLC.

“Asset Representations
Reviewer Agreement” means the agreement entered into by and among the Servicer, the Issuer and the Asset Representations
Reviewer, dated as of May 13, 2016.

“Available
Accumulation Reserve Account Amount” means, for any Payment Date, the lesser of (a) the amount on deposit in the Accumulation
Reserve Account on such date (before giving effect to any deposit to be made to the Accumulation Reserve Account on such date)
and (b) the Required Accumulation Reserve Account Amount.

“Available
Principal Collections” means, with respect to the Series 2017-1 Notes, the Series 2017-1 Available Principal Collections
and has, with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series
of Notes.

“Base Rate”
means, with respect to any Payment Date, the sum of (a) the annualized percentage equivalent of a fraction, the numerator of which
is equal to the sum of the Class A Monthly Interest and the Class B Monthly Interest for such Payment Date and the denominator
of which is the Outstanding Dollar Principal Amount as of the Record Date for such Payment Date and (b) the Servicing Fee Percentage
for such Payment Date.

“Class”
means the Class A Notes and the Class B Notes, as applicable.

“Class A
Additional Interest” has the meaning specified in Section 4.02(a).

“Class A
Interest Shortfall” has the meaning specified in Section 4.02(a).

“Class A
Monthly Interest” has the meaning specified in Section 4.02(a).

“Class A
Note” means any one of the Notes substantially in the form of Exhibit A-1, which is duly executed and authenticated
in accordance with the Indenture.

“Class A
Note Interest Rate” means, for any Interest Period with respect to the Class A Notes, a per annum rate equal to
LIBOR plus 0.33%.

    	 	4	 

     

    

“Class A
Noteholder” means the Person in whose name a Class A Note is registered in the Note Register.

“Class A
Stated Principal Amount” means $750,000,000.

“Class B
Additional Interest” has the meaning specified in Section 4.02(b).

“Class B
Interest Shortfall” has the meaning specified in Section 4.02(b).

“Class B
Monthly Interest” has the meaning specified in Section 4.02(b).

“Class B
Note” means any one of the Notes substantially in the form of Exhibit A-2, which is duly executed and authenticated
in accordance with the Indenture.

“Class B
Note Interest Rate” means, for any Interest Period with respect to the Class B Notes, a per annum rate equal to
0%.

“Class B
Noteholder” means the Person in whose name a Class B Note is registered in the Note Register.

“Class B
Stated Principal Amount” means $199,368,000.

“Closing
Date” means May 23, 2017.

“Controlled
Accumulation Amount” means $79,114,000; provided, however, that if the Servicer elects to postpone the
commencement of the Controlled Accumulation Period in accordance with Section 4.06(c), it shall be an amount equal to the
Outstanding Dollar Principal Amount of such Series of Notes as of the first day of the Controlled Accumulation Period divided by
the Controlled Accumulation Period Length.

“Controlled
Accumulation Period” means, unless an Early Amortization Event shall have occurred prior thereto, the period beginning
on the first Business Day of the May 2019 Monthly Period or such later date as is determined in accordance with Section 4.06(c)
and ending on the earlier to occur of (a) the commencement of the Early Amortization Period and (b) the payment in full of the
Series 2017-1 Stated Principal Amount of, and any Monthly Interest due on, the Series 2017-1 Notes.

“Controlled
Accumulation Period Length” has the meaning specified in Section 4.06(c).

“Controlled
Deposit Amount” means, for any Payment Date with respect to the Controlled Accumulation Period, an amount equal to the
sum of the Controlled Accumulation Amount for such Payment Date and any Deficit Controlled Accumulation Amount from the immediately
preceding Payment Date.

“Covered
Amount” means, for any Note Transfer Date preceding (i) each Payment Date with respect to the Controlled Accumulation
Period and (ii) the first Payment Date of the Early Amortization Period, an amount equal to the sum of (a) the product of (i) the
Class A Note Interest Rate in effect with respect to such Interest Period, (ii) a fraction, the numerator of which

    	 	5	 

     

    

is the actual number of days from and
including the prior Payment Date to but excluding the then current Payment Date and the denominator of which is 360 and (iii) the
Principal Funding Account Balance, if any, as of the immediately preceding Payment Date, up to the Outstanding Dollar Principal
Amount of the Class A Notes as of the last day of the immediately preceding Monthly Period, and (b) the product of (i) the Class
B Note Interest Rate in effect with respect to such Interest Period, (ii) a fraction, the numerator of which is the actual number
of days from and including the prior Payment Date to but excluding the then current Payment Date and the denominator of which is
360 and (iii) the lesser of (x) the Principal Funding Account Balance, if any, as of the preceding Payment Date in excess of the
Outstanding Dollar Principal Amount of the Class A Notes as of the last day of the immediately preceding Monthly Period and (y)
the Outstanding Dollar Principal Amount of the Class B Notes as of the last day of the immediately preceding Monthly Period.

“Credit
Risk and Performance Disclosure” means written information that the Issuer shall cause to be distributed about the Notes
and the Receivables at the financial asset or pool level, as appropriate for the Receivables, and security-level to enable evaluation
and analysis of the credit risk and performance of the Notes and the Receivables, which information and its disclosure, at a minimum,
shall comply with the requirements of Regulation AB (to the extent then in effect) or any successor disclosure requirements for
public issuances, even if the Notes are issued in a private placement or are not otherwise required to be registered; provided,
that information that is unknown or not available to the Issuer after reasonable investigation may be omitted if there is included
in the offering document a statement that the specific information is otherwise unavailable.

“Daily Servicer’s
Certificate” has the meaning specified in the Servicing Agreement and shall be substantially in the form of Exhibit
B-3.

“Deficit
Controlled Accumulation Amount” means (a) on the first Payment Date with respect to the Controlled Accumulation Period,
the excess, if any, of the Controlled Accumulation Amount for such Payment Date over the amount deposited in the Principal
Funding Account on such Payment Date and (b) on each subsequent Payment Date with respect to the Controlled Accumulation Period,
the excess, if any, of the Controlled Deposit Amount for such subsequent Payment Date over the amount deposited in the Principal
Funding Account on such subsequent Payment Date.

“Delinquency
Trigger Event” means, as determined as of the last day of each Monthly Period, the occurrence of the Sixty Day Delinquency
Rate Percentage being equal to or greater than the Delinquency Trigger Percentage.

“Delinquency
Trigger Percentage” means, the lesser of (i) 9.00% or (ii) the “Delinquency Trigger Percentage” as specified
in the indenture supplement for any other Outstanding Series of Notes.

“Distribution
Account” means the Eligible Deposit Account designated as such and established pursuant to Section 4.15.

    	 	6	 

     

    

“Early Amortization
Event” means, with respect to the Series 2017-1 Notes, the events specified in Section 5.01 hereof and Article
XII of the Indenture.

“Early Amortization
Period” means the period commencing at the close of business on the Business Day immediately preceding the day on which
an Early Amortization Event with respect to Series 2017-1 is deemed to have occurred, and ending on the first to occur of (a) the
payment in full of the Series 2017-1 Stated Principal Amount of, and any Series 2017-1 Monthly Interest due on, the Series 2017-1
Notes, (b) the date on which Collateral is sold pursuant to Section 4.14, and (c) the Legal Maturity Date.

“Early Redemption
Event” has the meaning specified in Section 5.02.

“Excess
Spread Percentage” means, with respect to each Payment Date, as determined on the second preceding Business Day, an amount
equal to the Series 2017-1 Portfolio Yield with respect to the related Monthly Period minus the Base Rate with respect to
such Payment Date.

“Expected
Final Payment Date” means the May 2020 Payment Date.

“Fitch”
means Fitch Ratings, Inc., or any successor thereto.

“Floating
Allocation Percentage” means, with respect to the Series 2017-1 Notes, the Series 2017-1 Floating Allocation Percentage
and has, with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series
of Notes.

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

“IAI”
has the meaning specified in Section 8.07(b).

“Indenture”
means the Amended and Restated Indenture, dated as of August 1, 2012, as amended and restated as of December 17, 2013 and as amended
by the first amendment thereto, dated as of July 6, 2015, by and between the Issuer and the Indenture Trustee, as the same may
be amended, restated, supplemented or otherwise modified from time to time.

“Indenture
Supplement” has (a) with respect to Series 2017-1, the meaning specified in the preamble hereto and (b) with respect
to any other Series of Notes, the meaning specified in the Indenture.

“Indenture
Trustee” means U.S. Bank National Association, in its capacity as indenture trustee under the Indenture, its successors
in interest and any successor indenture trustee under the Indenture.

“Initial
Payment Date” means June 15, 2017.

“Interest
Period” means, with respect to any Payment Date, the period from and including the Payment Date immediately preceding
such Payment Date (or, in the case of the Initial Payment Date, from and including the Closing Date) and to but excluding such
Payment Date.

    	 	7	 

     

    

“Investor
Charge-Off” has the meaning specified in Section 4.07.

“Issuer”
has the meaning specified in the preamble hereto.

“Legal Maturity
Date” means the March 2023 Payment Date.

“LIBOR”
means, for any Interest Period, a per annum interest rate determined by the Indenture Trustee for such Interest Period in accordance
with the provisions of Section 4.13.

“LIBOR Determination
Date” means May 19, 2017 for the period from and including the Closing Date, to but excluding the Initial Payment Date,
and for every other Interest Period, the second London Business Day prior to the commencement of such Interest Period.

“Monthly
Interest” means the Series 2017-1 Monthly Interest.

“Monthly
Subordination Amount” means, with respect to any Payment Date, an amount (which shall never be less than zero) equal
to the lesser of (i) the excess of the amounts distributable pursuant to Section 4.04(a) and Section 4.04(b) over
the Series 2017-1 Available Finance Charge Collections and Shared Excess Available Finance Charge Collections available to make
such distribution pursuant to Section 4.04(a) and Section 4.04(b), and (ii) (1) the Class B Stated Principal Amount
minus (2) the amount of unreimbursed Investor Charge-offs (after giving effect to Investor Charge-offs as of the current
Payment Date) and unreimbursed Reallocated Principal Collections (as of the previous Payment Date).

“Note Rating
Agency” means Standard & Poor’s or Fitch.

“Owner Trustee”
has the meaning specified in the Trust Agreement.

“Payment
Date” means (i) with respect to Series 2017-1, the Initial Payment Date and the 15th day of each calendar month thereafter,
or, if such 15th day is not a Business Day, the next succeeding Business Day and (ii) with respect to any other Series
of Notes, the meaning specified in the applicable Indenture Supplement for such Series of Notes.

“Principal
Allocation Percentage” means, with respect to the Series 2017-1 Notes, the Series 2017-1 Principal Allocation Percentage
and has, with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series
of Notes.

“Principal
Funding Account” means the Eligible Deposit Account designated as such and established pursuant to Section 4.06(a).

“Principal
Funding Account Balance” shall mean, with respect to any date of determination during the Controlled Accumulation Period,
the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

“Principal
Funding Account Investment Proceeds” shall have the meaning specified in Section 4.06(a)(ii).

“QIB”
has the meaning specified in Section 8.07(b).

    	 	8	 

     

    

“Quarterly
Excess Spread Percentage” means (a) with respect to the June 2017 Payment Date, the Excess Spread Percentage with respect
to the immediately preceding Monthly Period, (b) with respect to the July 2017 Payment Date, the percentage equivalent of a fraction,
the numerator of which is the sum of the Excess Spread Percentages for the immediately preceding two (2) Monthly Periods and the
denominator of which is two (2) and (c) with respect to the August 2017 Payment Date and each Payment Date thereafter, the percentage
equivalent of a fraction, the numerator of which is the sum of the Excess Spread Percentages for the immediately preceding three
(3) Monthly Periods and the denominator of which is three (3).

“Reallocated
Principal Collections” means, with respect to any Payment Date, Series 2017-1 Principal Collections applied in accordance
with Section 4.08.

“Record
Date” means the last day of the Monthly Period immediately preceding the related Payment Date.

“Reference
Banks” means four (4) major banks in the London interbank market selected by the Servicer.

“Regulation
RR” means the regulations under Section 15G of the Securities Act, added pursuant to Section 941(b) of the Dodd-Frank
Wall Street Reform and Consumer Protection Act.

“Repurchase
Party” shall have the meaning specified in Section 8.09.

“Requesting
Party” shall have the meaning specified in Section 8.09.

“Required
Accumulation Reserve Account Amount” means, with respect to any Payment Date during the Accumulation Reserve Account
Funding Period, an amount equal to (a) 0.50% of the Outstanding Dollar Principal Amount of the Series 2017-1 Notes as of the Record
Date for such Payment Date or (b) any other amount designated by the Transferor; provided, that if the amount is less than
that determined under clause (a), the Note Rating Agency Condition shall have been satisfied with respect to such designation and
written evidence of the satisfaction of the Note Rating Agency Condition has been delivered to the Servicer, the Indenture Trustee
and the Owner Trustee.

“Required
Excess Spread Percentage” means 0%; provided, however, that the Issuer may, from time to time, change such percentage
(which shall never be less than zero) (a) upon written notice to the Indenture Trustee, (b) upon satisfaction of the Note Rating
Agency Condition, and (c) provided the Issuer reasonably believes, as evidenced by an Officer’s Certificate of the Transferor
delivered to the Indenture Trustee, that such change will not have an Adverse Effect.

“Reuters
Screen LIBOR01 Page” means the display currently designated as page LIBOR01 on the Reuters Screen (or such other page
as may replace that page on that service for the purpose of displaying comparable rates or prices).

“Revolving
Period” means the period beginning on the Closing Date and ending on the earlier of (a) the close of business on the
day immediately preceding the day the Controlled Accumulation Period commences and (b) the close of business on the day the Early
Amortization Period commences.

    	 	9	 

     

    

“Rule 144A”
has the meaning specified in Section 8.07(b).

“Senior
Class” means, with respect to the Class B Notes, the Class A Notes.

“Series”
has the meaning specified in the Indenture and, when used with respect to the Series of Notes issued pursuant to this Indenture
Supplement, means Series 2017-1.

“Series
2017-1 Available Finance Charge Collections” means, with respect to any Monthly Period, an amount equal to the sum of
(a) the Series 2017-1 Finance Charge Collections with respect to such Monthly Period, (b) Principal Funding Account Investment
Proceeds, if any, with respect to the related Payment Date and (c) amounts, if any, to be withdrawn from the Accumulation Reserve
Account, which shall be deposited into the Collection Account on the related Note Transfer Date to be treated as Series 2017-1
Available Finance Charge Collections pursuant to Section 4.11(b) and (d).

“Series
2017-1 Available Principal Collections” means, with respect to any Monthly Period, an amount equal to (a) the Series
2017-1 Principal Collections with respect to such Monthly Period, minus (b) Reallocated Principal Collections determined
as of the related Payment Date for such Monthly Period, plus (c) any Series 2017-1 Available Finance Charge Collections
available with respect to such Monthly Period to cover the Series 2017-1 Default Amount or to reimburse any reductions in the Allocation
Amount from an allocation of Investor Charge-Offs or from the application of Reallocated Principal Collections, plus (d)
following an Event of Default and acceleration of the Series 2017-1 Notes, Series 2017-1 Available Finance Charge Collections,
if any, with respect to such Monthly Period, available pursuant to Section 4.04(g).

“Series
2017-1 Default Amount” means, with respect to any Monthly Period, an amount equal to the Default Amount allocated to
the Series 2017-1 Notes pursuant to Section 4.01(d).

“Series
2017-1 Finance Charge Collections” means, with respect to any Monthly Period, the Finance Charge Collections allocated
to the Series 2017-1 Notes pursuant to Section 4.01(b).

“Series
2017-1 Floating Allocation Percentage” means, with respect to any Monthly Period for such Monthly Period, and any date
of determination as of such date of determination in such Monthly Period, the percentage equivalent (which percentage shall never
exceed 100%) of a fraction, the numerator of which is the Allocation Amount as of the beginning of the first day of such Monthly
Period (or, (x) in the case of the first Monthly Period, the Series 2017-1 Stated Principal Amount and (y) with respect to any
Monthly Period in which there is an issuance of additional Series 2017-1 Notes occurring in such Monthly Period, the Allocation
Amount (after giving effect to any increase to the Allocation Amount resulting from the issuance of the additional Series 2017-1
Notes) as of any date of determination on or after the date of such issuance of additional Series 2017-1 Notes), and the denominator
of which is the greater of (i) the Pool Balance as of the beginning of the first day of such Monthly Period as adjusted in accordance
with the provisions below related to this clause (i), or (ii) the sum of the numerators used to calculate the Floating Allocation
Percentages for all Series of Notes as of the beginning of the first day of such Monthly Period as adjusted in accordance with
the provisions below related to this clause (ii). With respect to any Monthly Period in which an Addition Date or a

    	 	10	 

     

    

Removal Date occurs, on such Addition
Date or Removal Date, as applicable, the amount calculated above pursuant to clause (i) shall be adjusted to give effect to all
increases and decreases in the Pool Balance occurring in such Monthly Period from the first day of such Monthly Period to and including
such Addition Date or Removal Date. With respect to any Monthly Period in which there is a new issuance of Notes or an additional
issuance of Notes of an Outstanding Series of Notes, in each case, pursuant to Section 4.10 of the Indenture, the amount
calculated above pursuant to clause (ii) shall be adjusted to give effect to all increases in the sum of the allocation amounts
resulting from such new Series of Notes or additional issuance of Notes of an Outstanding Series of Notes occurring in such Monthly
Period from the immediately preceding date of determination in such Monthly Period to and including the date of issuance of such
new Series of Notes or the additional issuance of Notes of an Outstanding Series of Notes.

“Series
2017-1 Monthly Interest” means, with respect to any Payment Date, (a) the Class A Monthly Interest, (b) any Class A Monthly
Interest previously due but not paid to the Class A Noteholders, (c) the Class B Monthly Interest, (d) any Class B Monthly Interest
previously due but not paid to the Class B Noteholders, (e) the amount of Additional Interest, if any, and (f) any Additional Interest
previously due but not paid to the Series 2017-1 Noteholders, in each case for such Payment Date.

“Series
2017-1 Monthly Principal” has the meaning specified in Section 4.03.

“Series
2017-1 Noteholders” means a Class A Noteholder or a Class B Noteholder.

“Series
2017-1 Note” means a Class A Note or a Class B Note.

“Series
2017-1 Portfolio Yield” means, for any Monthly Period (which, in the case of the first Monthly Period, shall be determined
pursuant to Section 2.01(e)), the annualized percentage equivalent of a fraction:

(a)       the
numerator of which is equal to the sum of:

(A)       the
Series 2017-1 Available Finance Charge Collections with respect to such Monthly Period; minus

(B)       the
Series 2017-1 Default Amount for such Monthly Period; and

(b)       the
denominator of which is the Allocation Amount as of the last day of the preceding Monthly Period.

“Series
2017-1 Principal Allocation Percentage” means, with respect to any Monthly Period for such Monthly Period, and any date
of determination as of such date of determination in such Monthly Period, the percentage equivalent (which percentage shall never
exceed 100%) of a fraction, the numerator of which is (a) during the Revolving Period, the Allocation Amount as of the beginning
of the first day of such Monthly Period (or, in the case of the first Monthly Period, the Series 2017-1 Stated Principal Amount
and (y) with respect to any Monthly Period in which there is an issuance of additional Series 2017-1 Notes occurring in such Monthly
Period, the Allocation Amount (after giving effect to any increase to the Allocation Amount resulting

    	 	11	 

     

    

from the issuance of the additional
Series 2017-1 Notes) as of any date of determination on or after the date of such issuance of additional Series 2017-1 Notes) and
(b) during the Controlled Accumulation Period or the Early Amortization Period, the Allocation Amount as of the close of business
on the date on which the Revolving Period shall have terminated, and the denominator of which is the greater of (i) the Pool Balance
as of the beginning of the first day of such Monthly Period as adjusted in accordance with the provisions below related to this
clause (i), or (ii) the sum of the numerators used to calculate the Principal Allocation Percentages for all Series of Notes as
adjusted in accordance with the provisions below related to this clause (ii). With respect to any Monthly Period in which an Addition
Date or a Removal Date occurs, on such Addition Date or Removal Date, as applicable, the amount calculated above pursuant to clause
(i) shall be adjusted to give effect to all increases and decreases in the Pool Balance occurring in such Monthly Period from the
first day of such Monthly Period to and including such Addition Date or Removal Date. With respect to any Monthly Period in which
there is a new issuance of Notes or an additional issuance of Notes of an Outstanding Series of Notes, in each case, pursuant to
Section 4.10 of the Indenture, the amount calculated above pursuant to clause (ii) shall be adjusted to give effect to all
increases in the sum of the allocation amounts resulting from such new Series of Notes or additional issuance of Notes of an Outstanding
Series of Notes occurring in such Monthly Period from the immediately preceding date of determination in such Monthly Period to
and including the date of issuance of such new Series of Notes or the additional issuance of Notes of an Outstanding Series of
Notes.

“Series
2017-1 Principal Collections” means, with respect to any Monthly Period, the Principal Collections allocated to the Series
2017-1 Notes pursuant to Section 4.01(c).

“Series
2017-1 Servicing Fee” means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicing
Fee with respect to such Monthly Period and (b) the Series 2017-1 Floating Allocation Percentage with respect to such Monthly Period.

“Series
2017-1 Stated Principal Amount” means $949,368,000.

“Series
Available Finance Charge Collections Shortfall” means, with respect to any Monthly Period as determined on the related
Note Transfer Date, (a) with respect to Series 2017-1, the excess, if any, of (i) the aggregate amount targeted to be paid or applied
pursuant to Sections 4.04(a) through (f) for such Monthly Period over (ii) the Series 2017-1 Available Finance
Charge Collections with respect to such Monthly Period and (b) with respect to any other Series, the amount set forth in the applicable
Indenture Supplement for such Monthly Period; provided, however, that the Issuer, when authorized by an Officer’s
Certificate of the Transferor, may amend or otherwise modify this definition of Series Available Finance Charge Collections Shortfall
provided that the Note Rating Agency Condition is satisfied.

“Series
Available Principal Collections Shortfall” means, with respect to any Monthly Period as determined on the related Note
Transfer Date, (a) with respect to Series 2017-1, the excess, if any, of (i) the lesser of the amounts determined pursuant to Sections
4.03(b)(ii) and (iii), for such Monthly Period over (ii) the Series 2017-1 Available Principal Collections, less any
amount released and used to purchase Receivables under Section 4.01(f), with respect to such Monthly Period and (b) with
respect to any other Series of Notes, the amount set forth in the applicable Indenture Supplement for such Monthly Period; provided,
however, that the

    	 	12	 

     

    

Issuer, when authorized by an Officer’s
Certificate of the Transferor, may amend or otherwise modify this definition of Series Available Principal Collections Shortfall
provided that the Note Rating Agency Condition is satisfied.

“Servicing
Agreement” means the Amended and Restated Servicing Agreement, dated as of August 1, 2012, as amended and restated as
of December 17, 2013, among Barclays Dryrock Funding LLC, as Transferor, the Servicer and the Indenture Trustee, as amended, restated,
supplemented or otherwise modified from time to time.

“Shared
Excess Available Finance Charge Collections” means, with respect to any Monthly Period as determined on the related Note
Transfer Date, with respect to any Series of Notes in Shared Excess Available Finance Charge Collections Group One, the sum of
(a) the amount of Series 2017-1 Available Finance Charge Collections with respect to such Monthly Period, available after application
in accordance with Section 4.04(a) through (g) and (b) the Finance Charge Collections remaining after all
required payments and deposits from all other Series identified as belonging to Shared Excess Available Finance Charge Collections
Group One which the applicable Indenture Supplements for such Series specify are to be treated as “Shared Excess Available
Finance Charge Collections” with respect to such Monthly Period.

“Shared
Excess Available Finance Charge Collections Group One” means the Shared Excess Available Finance Charge Collections Group
to which Series 2017-1 has been designated for inclusion under Section 4.09(a).

“Shared
Excess Available Principal Collections” means, with respect to any Monthly Period as determined on the related Note Transfer
Date, the sum of (a) with respect to Series 2017-1, the amount of Series 2017-1 Available Principal Collections, less any amount
released and used to purchase Receivables under Section 4.01(f), for such Monthly Period available after application in
accordance with Sections 4.05(b)(i) through (iii) and (b) with respect to any other Series included in Shared Excess
Available Principal Collections Group One, the Principal Collections allocated to such other Series remaining after all required
payments and deposits, which the applicable Indenture Supplements for such Series specify are to be treated as “Shared Excess
Available Principal Collections” with respect to such Monthly Period.

“Shared
Excess Available Principal Collections Group One” means the Shared Excess Available Principal Collections Group to which
Series 2017-1 has been designated for inclusion under Section 4.10(a).

“Sixty Day
Delinquency Rate” means, as determined as of the last day of the Monthly Period, the percentage equivalent of a fraction,
the numerator of which is an amount equal to the aggregate Dollar amount of Sixty Day Delinquent Assets and the denominator of
which is equal to the aggregate Dollar amount of all Receivables.

“Sixty Day
Delinquency Rate Percentage” means, (a) as determined as of the last day of the initial Monthly Period for the Series
2017-1 Notes, the Sixty Day Delinquency Rate, (b) as determined as of the last day of the second Monthly Period for the Series
2017-1 Notes, the percentage equivalent of a fraction, the numerator of which is the sum of the Sixty Day Delinquency Rates for
the initial Monthly Period and the second Monthly Period and the

    	 	13	 

     

    

denominator of which is two (2), and
(c) as determined as of the last day of any Monthly Period (other than the initial Monthly Period or second Monthly Period) for
the Series 2017-1 Notes, the percentage equivalent of a fraction, the numerator of which is the sum of the Sixty Day Delinquency
Rates for the Monthly Period in which such determination occurs and the two (2) Monthly Periods immediately preceding such Monthly
Period and the denominator of which is three (3).

“Sixty Day
Delinquent Asset” means a Receivable (i) with respect to which three consecutive scheduled payments under the applicable
Account Agreement remain unpaid for three consecutive billing date cycles and (ii) that is not a Defaulted Receivable.

“Stated
Principal Amount” means, with respect to the Series 2017-1 Notes, the Series 2017-1 Stated Principal Amount and has,
with respect to any other Series of Notes, the meaning specified in the applicable Indenture Supplement for such Series of Notes.

“Subordinated
Class” means, with respect to the Class A Notes, the Class B Notes.

“Tax Retained
Notes” if any, means any Class A Notes while beneficially owned after the closing date by either (i) the issuer of such
Notes for U.S. federal income tax purposes or (ii) a member of an expanded group (as defined in Treasury Regulation section 1.385-1(b)(3)
or any successor regulation then in effect) that includes the issuer of such Notes for U.S. federal income tax purposes, until
such time as such Notes are the subject of an opinion pursuant to Section 8.11 of this Indenture Supplement.

“Transfer
Agreement” means the Amended and Restated Transfer Agreement, dated as of August 1, 2012, as amended and restated as
of December 17, 2013, and as amended by the first amendment thereto, dated as of March 1, 2017, by and among Barclays Dryrock Funding
LLC, as Transferor, the Issuer, and the Indenture Trustee, as amended, restated, supplemented or otherwise modified from time to
time.

“Transferor
Amount Measurement Date” means the Record Date. For the avoidance of doubt, the Transferor Amount Measurement Date is
the seller’s interest measurement date for purposes of Section 246.5(c)(4) of Regulation RR.

Section 1.02.       
Governing Law; Consent to Jurisdiction; Waiver of Jury Trial.

(a)               
THIS INDENTURE SUPPLEMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING
SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

(b)              
Each party hereto hereby consents and agrees that the state or federal courts located in the Borough of Manhattan in New
York City shall have exclusive jurisdiction to hear and determine any claims or disputes between them pertaining to this Indenture
Supplement or to any matter arising out of or relating to this Indenture Supplement; provided, that each party hereto acknowledges
that any appeals from those courts may have to be heard by

    	 	14	 

     

    

a court located outside of the Borough
of Manhattan in New York City; provided, further, that nothing in this Indenture Supplement shall be deemed or operate
to preclude the Indenture Trustee from bringing suit or taking other legal action in any other jurisdiction to realize on the Receivables
or any security for the obligations of the Issuer arising hereunder or to enforce a judgment or other court order in favor of the
Indenture Trustee. Each party hereto submits and consents in advance to such jurisdiction in any action or suite commenced in any
such court, and each party hereto hereby waives any objection that such party may have based upon lack of personal jurisdiction,
improper venue or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate
by such court. Each party hereto hereby waives personal service of the summons, complaint and other process issued in any such
action or suit and agrees that service of such summons, complaint, and other process may be made by registered or certified mail
addressed to such party at its address, and that service so made shall be deemed completed upon the earlier of such party’s
actual receipt thereof or three (3) days after deposit in the United States mail, proper postage prepaid. Nothing in this Section
1.02 shall affect the right of any party hereto to serve legal process in any other manner permitted by law.

(c)               
BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY
AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES),
THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION
OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION,
SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, OR CONNECTION
WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS INDENTURE SUPPLEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

Section 1.03.       
Counterparts. This Indenture Supplement may be executed in two (2) or more counterparts (and by different parties
on separate counterparts), each of which shall be deemed an original, and all of which when taken together shall constitute one
and the same instrument.

Section 1.04.       
Ratification of Indenture. As supplemented by this Indenture Supplement, the Indenture is in all respects ratified
and confirmed and the Indenture as so supplemented by this Indenture Supplement shall be read, taken and construed as one and the
same instrument.

[END OF ARTICLE I]

Article
II

THE NOTES

Section 2.01.       
Designation.

    	 	15	 

     

    

(a)               
There is hereby created a Series of Notes to be issued pursuant to the Indenture and this Indenture Supplement to be known
as “Barclays Dryrock Issuance Trust, Series 2017-1” or the “Series 2017-1 Notes.” The Series 2017-1 Notes
shall be issued in two (2) Classes, the first of which shall be known as the “Class A Series 2017-1 Floating Rate Asset Backed
Notes” and the second of which shall be known as the “Class B Series 2017-1 Fixed Rate Asset Backed Notes.” The
Series 2017-1 Notes shall be due and payable on the Legal Maturity Date.

(b)              
The Series 2017-1 Notes shall be secured by the Collateral. For the avoidance of doubt, the parties agree that the payment
of principal and interest on the Series 2017-1 Notes shall be primarily based on the performance of the Receivables and, except
for interest rate or currency mismatches between the Receivables and the Series 2017-1 Notes, shall not be contingent on market
or credit events that are independent of such financial assets.

(c)               
Series 2017-1 shall be a Shared Excess Available Finance Charge Collections Series and shall be included in Shared Excess
Available Finance Charge Collections Group One. Series 2017-1 shall be a Shared Excess Available Principal Collections Series and
shall be included in Shared Excess Available Principal Collections Group One. Other than as specified in this Section 2.01(c),
Series 2017-1 shall not be in any other Group.

(d)              
Series 2017-1 shall not be subordinated to any other Series of Notes.

(e)               
Notwithstanding any provision in the Indenture or in this Indenture Supplement to the contrary, the first Payment Date with
respect to Series 2017-1 shall be the June 2017 Payment Date, and the first Monthly Period shall begin on and include the Closing
Date and end on and include May 31, 2017.

(f)                
The Series 2017-1 Notes shall not be predominantly sold to an affiliate (other than a wholly-owned subsidiary consolidated
for accounting and capital purposes with BBD) or insider of BBD.

Section 2.02.       
Issuance of Series 2017-1 Notes. The Issuer may issue Notes of any Class of the Series 2017-1 Notes, so long as the
conditions precedent set forth in Section 4.10 of the Indenture are satisfied.

Section 2.03.       
Documentation. This Indenture Supplement, together with the Transaction Documents, shall (a) define the contractual
rights and responsibilities of the parties, including, but not limited to, representations and warranties and ongoing disclosure
requirements, and any measures to avoid conflicts of interest; and (b) provide authority for the parties, including, but not limited
to, BBD, the Servicer and the Series 2017-1 Noteholders to fulfill their respective duties and exercise their rights under the
contracts and clearly distinguish between any multiple roles performed by any party.

[END OF ARTICLE II]

    	 	16	 

     

    

Article III

SERVICING COMPENSATION

Section 3.01.       
Servicing Compensation. The share of the Servicing Fee allocable to the Series 2017-1 Noteholders with respect to
any Payment Date shall equal the Series 2017-1 Servicing Fee. The portion of the Servicing Fee that is not allocable to the Series
2017-1 Noteholders shall be paid by the holders of the Transferor Interest or the Noteholders of other Series of Notes (as provided
in the related Indenture Supplements), and in no event shall the Issuer, the Owner Trustee, the Indenture Trustee or the Series
2017-1 Noteholders be liable for the share of the Servicing Fee to be paid by the holders of the Transferor Interest or the Noteholders
of any other Series of Notes.

[END OF ARTICLE III]

Article
IV

RIGHTS OF SERIES 2017-1 NOTEHOLDERS AND ALLOCATION AND APPLICATION OF COLLECTIONS

Section 4.01.       
Collections and Allocations.

(a)               
Allocations. Finance Charge Collections, Principal Collections, the Default Amount and the Servicing Fee shall be allocated
pursuant to Article V of the Indenture and shall be allocated to Series 2017-1 and distributed as set forth in this Article
IV.

(b)              
Allocations of Finance Charge Collections to the Series 2017-1 Notes. With respect to each date on which the Servicer deposits
Collections into the Collection Account, the Indenture Trustee, at the direction of the Servicer as set forth in the Daily Servicer’s
Certificate, shall allocate to the Series 2017-1 Noteholders and retain in the Collection Account for application as provided herein
an amount equal to the product of (i) the Series 2017-1 Floating Allocation Percentage and (ii) the amount of Finance Charge Collections
deposited into the Collection Account on such date.

(c)               
Allocations of Principal Collections to the Series 2017-1 Notes. With respect to each date on which the Servicer deposits
Collections into the Collection Account, the Indenture Trustee, at the direction of the Servicer as set forth in the Daily Servicer’s
Certificate, shall allocate to the Series 2017-1 Noteholders an amount equal to the product of (i) the Series 2017-1 Principal
Allocation Percentage and (ii) the amount of Principal Collections deposited into the Collection Account on such date.

(d)              
Allocations of the Default Amount to the Series 2017-1 Notes. With respect to each Monthly Period, the Indenture Trustee,
at the direction of the Servicer, shall on or prior to the applicable Note Transfer Date allocate to the Series 2017-1 Notes an
amount equal to the product of (i) the Series 2017-1 Floating Allocation Percentage and (ii) the Default Amount with respect to
such Monthly Period.

    	 	17	 

     

    

(e)               
Allocations of the Servicing Fee to the Series 2017-1 Notes. With respect to each Monthly Period, the Indenture Trustee,
at the direction of the Servicer, shall on or prior to the applicable Note Transfer Date allocate to the Series 2017-1 Notes an
amount equal to the product of (i) the Series 2017-1 Floating Allocation Percentage and (ii) the Servicing Fee with respect to
such Monthly Period.

(f)                
Release of Principal Collections to Purchase Receivables. Principal Collections allocated to the Series 2017-1 Notes as
provided in Section 4.01(c) and on deposit in the Collection Account with respect to each Monthly Period may, upon request
made by the Servicer on behalf of the Transferor to the Indenture Trustee, on any date, subject to the restrictions set forth below
in this Section 4.01(f), be released from the Collection Account to the Transferor free and clear of the lien of the Indenture
to be used solely for the purpose of purchasing Receivables. The release of Principal Collections under this Section 4.01(f),
shall be subject to the following limitations: (1) no Principal Collections may be released if an Early Amortization Event has
occurred and is continuing for one or more Series of Notes in Shared Excess Available Principal Collections Group One; (2) on each
date of transfer only the excess of (a) the amount determined pursuant to Section 4.01(c), over (b) an amount equal to the
product of (i) the amount determined pursuant to Section 4.01(c), and (ii) a fraction, the numerator of which is the Class
B Stated Principal Amount and the denominator of which is the Series 2017-1 Stated Principal Amount, may be released; and (3) if
one or more Series of Notes in Shared Excess Available Principal Collections Group One is in a Controlled Accumulation Period,
no Principal Collections for such Monthly Period may be released if the amount of Principal Collections remaining in the Collection
Account for such Monthly Period allocable to Shared Excess Available Principal Collections Group One would be less than the sum
of the Controlled Deposit Amounts for such Series of Notes in Shared Excess Available Principal Collections Group One in a Controlled
Accumulation Period due on the Payment Date for the related Monthly Period.

Section 4.02.       
Determination of Series 2017-1 Monthly Interest.

(a)               
The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account
with respect to the Class A Notes for any Payment Date shall be an amount equal to the product of (i) (x) a fraction, the numerator
of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (y) the
Class A Note Interest Rate in effect for the related Interest Period and (ii) the Outstanding Dollar Principal Amount of the Class
A Notes as of the close of business on the Record Date.

On the Note Transfer
Date preceding each Payment Date, the Servicer shall determine the excess, if any (the “Class A Interest Shortfall”),
of (i) the Class A Monthly Interest for such Payment Date over (ii) the aggregate amount of funds retained in the Collection
Account and allocated and available to pay such Class A Monthly Interest on such Payment Date. If the Class A Interest Shortfall
with respect to any Payment Date is greater than zero, on each subsequent Payment Date until such Class A Interest Shortfall is
fully paid, an additional amount (“Class A Additional Interest”) equal to the product of (i) (x) a fraction,
the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times
(y) the Class A Note Interest Rate in effect for the related Interest Period plus 2% per annum and (ii) such Class
A Interest Shortfall (or the portion thereof which has not been paid to

    	 	18	 

     

    

the Class A Noteholders) shall be payable
as provided herein with respect to the Class A Notes. Notwithstanding anything to the contrary herein, Class A Additional Interest
shall be payable or distributed to the Class A Noteholders only to the extent permitted by applicable law.

(b)              
The amount of monthly interest (“Class B Monthly Interest”) distributable from the Collection Account
with respect to the Class B Notes for any Payment Date shall be an amount equal to the product of (i) (x) a fraction, the numerator
of which is thirty (30) and the denominator of which is 360, times (y) the Class B Note Interest Rate in effect for the
related Interest Period and (iii) the Outstanding Dollar Principal Amount of the Class B Notes as of the close of business on the
Record Date.

On the Note Transfer
Date preceding each Payment Date, the Servicer shall determine the excess, if any (the “Class B Interest Shortfall”),
of (i) the Class B Monthly Interest for such Payment Date over (ii) the aggregate amount of funds retained in the Collection
Account and allocated and available to pay such Class B Monthly Interest on such Payment Date. If the Class B Interest Shortfall
with respect to any Payment Date is greater than zero, on each subsequent Payment Date until such Class B Interest Shortfall is
fully paid, an additional amount (“Class B Additional Interest”) equal to the product of (i) (x) a fraction,
the numerator of which is thirty (30) and the denominator of which is 360, times (y) the Class B Note Interest Rate in effect
for the related Interest Period plus 2% per annum and (ii) such Class B Interest Shortfall (or the portion thereof
which has not been paid to the Class B Noteholders) shall be payable as provided herein with respect to the Class B Notes. Notwithstanding
anything to the contrary herein, Class B Additional Interest shall be payable or distributed to the Class B Noteholders only to
the extent permitted by applicable law.

Section 4.03.       
Determination of Series 2017-1 Monthly Principal. The amount of monthly principal made available with respect to
the Series 2017-1 Notes for any Payment Date (the “Series 2017-1 Monthly Principal”), shall be equal to (a)
during the Revolving Period, zero and (b) beginning with the Payment Date in the month following the month in which the Controlled
Accumulation Period or, if earlier, the Early Amortization Period, begins, shall be equal to the least of (i) the Series 2017-1
Available Principal Collections, less any amount released and used to purchase Receivables under Section 4.01(f), currently
on deposit in the Collection Account with respect to such Payment Date, (ii) for each Payment Date with respect to the Controlled
Accumulation Period, the Controlled Deposit Amount for such Payment Date and (iii) the Allocation Amount for such Payment Date
(after taking into account any adjustments to be made on such Payment Date pursuant to Section 4.04, Section 4.07,
and Section 4.08).

Section 4.04.       
Application of Series 2017-1 Available Finance Charge Collections on Deposit in the Collection Account. On each Note
Transfer Date the Servicer shall, or shall instruct the Indenture Trustee in writing, to withdraw from the Collection Account and
deposit into the Distribution Account from the Series 2017-1 Available Finance Charge Collections with respect to the related Payment
Date an amount equal to the amount determined under Section 4.04(a). The Servicer shall apply, or shall instruct the Indenture
Trustee in writing (which writing shall be substantially in the form of Exhibit B-3), to apply on each Payment Date, (i)
the Series 2017-1 Available Finance Charge Collections with respect to the related Payment Date on

    	 	19	 

     

    

deposit in the Collection Account and
(ii) with respect to Section 4.04(a) the funds on deposit in the Distribution Account, as applicable, in the following priority:

(a)               
an amount equal to Class A Monthly Interest for such Payment Date, plus the amount of any Class A Monthly Interest,
or portion thereof, previously due but not paid to Class A Noteholders on a prior Payment Date, plus the amount of any Class
A Additional Interest for such Payment Date, plus the amount of any Class A Additional Interest, or portion thereof, previously
due but not paid to Class A Noteholders on a prior Payment Date, shall be distributed to the Paying Agent for payment to Class
A Noteholders on such Payment Date;

(b)              
an amount equal to the Series 2017-1 Servicing Fee for such Payment Date, plus the amount of any Series 2017-1 Servicing
Fee, or portion thereof, previously due but not paid to the Servicer on a prior Payment Date, shall be distributed to the Servicer;

(c)               
an amount equal to Class B Monthly Interest for such Payment Date, plus the amount of any Class B Monthly Interest, or portion
thereof, previously due but not paid to Class B Noteholders on a prior Payment Date, plus the amount of any Class B Additional
Interest for such Payment Date, plus the amount of any Class B Additional Interest, or portion thereof, previously due but
not paid to Class B Noteholders on a prior Payment Date, shall be distributed to the Paying Agent for the payment to Class B Noteholders
on such Payment Date;

(d)              
an amount equal to the Series 2017-1 Default Amount for such Payment Date shall be treated as a portion of Series 2017-1
Available Principal Collections for such Payment Date;

(e)               
an amount equal to the sum of the aggregate amount of Investor Charge-Offs and the amount of Reallocated Principal Collections
which have not previously been reimbursed shall be used to reimburse such amount pursuant to this Section 4.04(e) and treated
as Series 2017-1 Available Principal Collections for such Payment Date;

(f)                
on each Payment Date during the Accumulation Reserve Account Funding Period an amount equal to the excess, if any, of the
Required Accumulation Reserve Account Amount over the Available Accumulation Reserve Account Amount shall be deposited into the
Accumulation Reserve Account;

(g)               
upon the occurrence of an Event of Default with respect to Series 2017-1 and acceleration of the maturity of the Series
2017-1 Notes pursuant to Section 7.02 of the Indenture, the balance, if any, up to the Outstanding Dollar Principal Amount, less
the amount of Series 2017-1 Available Principal Collections (less any amount released and used to purchase Receivables under Section
4.01(f)) currently on deposit in the Collection Account allocated to Series 2017-1 on such Payment Date (other than pursuant
to this clause (g)), shall be treated as Series 2017-1 Available Principal Collections for such Payment Date;

(h)               
the balance, if any, shall constitute a portion of Shared Excess Available Finance Charge Collections for such Payment Date
and shall be available for allocation to other Series in Shared Excess Available Finance Charge Collections Group One, to the extent
needed; and

    	 	20	 

     

    

(i)                 
first, an amount equal to that needed to pay any other obligations of the Issuer under the Transaction Documents shall be
applied to pay such obligations, and the balance shall be paid to the holders of the Transferor Interest.

Section 4.05.       
Application of Series 2017-1 Available Principal Collections.

(a)               
On or before each Payment Date with respect to the Revolving Period, an amount equal to Series 2017-1 Available Principal
Collections deposited in the Collection Account with respect to the related Monthly Period, less any amount released and used to
purchase Receivables under Section 4.01(f), shall be treated as Shared Excess Available Principal Collections with respect
to such Monthly Period.

(b)              
With respect to the Controlled Accumulation Period or the Early Amortization Period, an amount equal to the Series 2017-1
Available Principal Collections, less any amount released and used to purchase Receivables under Section 4.01(f), currently
on deposit in the Collection Account for the related Monthly Period, shall be distributed or deposited on the following dates and
in the following order of priority:

(i)                 
during the Controlled Accumulation Period, and prior to the payment in full of the Class A Notes and the Class B Notes,
an amount equal to the Series 2017-1 Monthly Principal, for each Payment Date shall be deposited into the Principal Funding Account
on such Payment Date; provided, however, that with respect to the calendar month in which the Expected Final Payment
Date occurs, such deposit shall be made on the applicable Note Transfer Date;

(ii)               
during the Early Amortization Period, on each Note Transfer Date an amount equal to the lesser of (i) the Series 2017-1
Monthly Principal, for the related Payment Date or (ii) the Class A Stated Principal Amount, shall be deposited into the Distribution
Account and on the related Payment Date distributed to the Paying Agent for payment to the Class A Noteholders on such Payment
Date until the Class A Stated Principal Amount has been paid in full;

(iii)              
during the Early Amortization Period on each Payment Date, after giving effect to the deposit on the related Note Transfer
Date referred to in clause (ii) above, an amount equal to the Series 2017-1 Monthly Principal for such Payment Date remaining,
if any, shall be distributed to the Paying Agent for payment to the Class B Noteholders on such Payment Date until the Class B
Stated Principal Amount has been paid in full; and

(iv)             
on each Payment Date the balance of such Series 2017-1 Available Principal Collections after giving effect to the distributions
referred to in clauses (i)-(iii) above shall be treated as Shared Excess Available Principal Collections for the benefit of other
Series in the Shared Excess Available Principal Collections Group One.

(c)               
On the earlier to occur of the Note Transfer Date relating to (i) the first Payment Date with respect to the Early Amortization
Period and (ii) the Expected Final Payment Date, the Indenture Trustee, acting in accordance with instructions from the Servicer,
shall withdraw from the amounts deposited into the Principal Funding Account pursuant to Section

    	 	21	 

     

    

4.05(b)(i) and deposit into
the Distribution Account an amount equal to the lesser of the amount in the Principal Funding Account and the Class A Stated Principal
Amount, and the Indenture Trustee, acting in accordance with instructions from the Servicer, shall distribute such funds to the
Paying Agent for payment to the Class A Noteholders on the related Payment Date. On the earlier to occur of (i) the first Payment
Date with respect to the Early Amortization Period and (ii) the Expected Final Payment Date, the Indenture Trustee, acting in
accordance with instructions from the Servicer, shall withdraw from the remaining amounts, if any, in the Principal Funding Account
an amount equal to the lesser of such remaining amount and the Class B Stated Principal Amount, and the Indenture Trustee, acting
in accordance with instructions from the Servicer, shall distribute such funds to the Paying Agent for payment to the Class B
Noteholders on such Payment Date.

Section 4.06.       
Principal Funding Account; Controlled Accumulation Period.

(a)               
(i)The Issuer shall cause to be established and maintained an Eligible Deposit Account (the “Principal Funding
Account”), bearing a designation clearly indicating that the funds and other property credited thereto are held for the
benefit of the Indenture Trustee and the Series 2017-1 Noteholders in accordance with Section 5.02(c) of the Indenture.

(ii)               
If a securities intermediary has been appointed, funds on deposit in the Principal Funding Account shall be invested by
the Indenture Trustee in Eligible Investments selected by the Servicer in accordance with written instructions from the Servicer.
All such Eligible Investments shall be held by the Indenture Trustee for the benefit of the Series 2017-1 Noteholders; provided,
that with respect to each Payment Date, all interest and other investment income (net of losses and investment expenses) (“Principal
Funding Account Investment Proceeds”) on funds on deposit therein shall be applied as set forth in Section 4.06(a)(iii)
below; and provided, further, that funds on deposit in the Principal Funding Account shall be invested in Eligible
Investments that shall mature so that such funds shall be available at the opening of business on the Note Transfer Date preceding
the following Payment Date. Unless the Servicer directs otherwise, funds deposited in the Principal Funding Account on a Note Transfer
Date upon the maturity of any Eligible Investments are not required to be invested. No such Eligible Investment shall be disposed
of prior to its maturity; provided, however, that the Indenture Trustee shall sell, liquidate or dispose of any such
Eligible Investment if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest
or any other amount with respect to such Eligible Investment; provided further, however, that the Servicer shall
deliver prompt written notice to the Indenture Trustee of any such default; and provided further, that, subject to Section
8.01 of the Indenture, the Indenture Trustee shall not in any way be held liable by reason of any insufficiency in such Principal
Funding Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Indenture
Trustee’s failure to make payments on such Eligible Investments issued by the Indenture Trustee, in its commercial capacity,
in accordance with their terms.

(iii)              
On each Note Transfer Date with respect to the Controlled Accumulation Period, the Servicer shall direct the Indenture Trustee
in writing to withdraw from the Principal Funding
Account and deposit into the Collection Account all 

    	 	22	 

     

    

Principal Funding Account Investment Proceeds, if any, then on deposit in the
Principal Funding Account and such Principal Funding Account Investment Proceeds, if any, shall be treated as a portion of Series
2017-1 Available Finance Charge Collections.

(iv)             
Reinvested interest and other investment income on funds deposited in the Principal Funding Account shall not be considered
to be principal amounts on deposit therein for purposes of this Indenture Supplement.

(b)              
(i)The Indenture Trustee shall possess all right, title and interest in all funds and property from time to time credited
to the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the exclusive control
of the Indenture Trustee for the benefit of the Series 2017-1 Noteholders. If, at any time (i) the Principal Funding Account ceases
to be an Eligible Deposit Account, the Indenture Trustee (or the Servicer or the Owner Trustee for the Issuer) shall within thirty
(30) Business Days (or such longer period upon satisfaction of the Note Rating Agency Condition, but in any event not to exceed
forty-five (45) Business Days) establish a new Principal Funding Account meeting the conditions specified in Section 4.06(a)(i)
above as an Eligible Deposit Account and shall transfer any funds or other property to such new Principal Funding Account or (ii)
the Issuer determines for any reason that the Principal Funding Account should be held at a different Eligible Institution, then
upon prior written notice to the Indenture Trustee, the Issuer shall establish or cause to be established a new Principal Funding
Account that is an Eligible Deposit Account and shall transfer any funds or other property from such Principal Funding Account
to such new Principal Funding account. From the date each such new Principal Funding Account is established, it shall be the “Principal
Funding Account.”

(ii)               
Pursuant to the authority granted to the Servicer in Section 3.1 of the Servicing Agreement, the Servicer shall have the
power to instruct the Indenture Trustee to make withdrawals and payments from the Principal Funding Account for the purposes of
carrying out the Servicer’s or Indenture Trustee’s duties hereunder.

(c)               
The Controlled Accumulation Period is scheduled to commence the first Business Day of the month that is twelve (12) calendar
months prior to the Expected Final Payment Date; provided, however, that if the Controlled Accumulation Period Length
(determined as described below) is less than twelve (12) months, then the date on which the Controlled Accumulation Period actually
commences will be the first Business Day of the month that is the number of whole months prior to the Expected Final Payment Date
at least equal to the Controlled Accumulation Period Length. On or before the second Business Day immediately preceding the first
Business Day of the month that is twelve (12) months prior to the Expected Final Payment Date, the Servicer shall determine the
“Controlled Accumulation Period Length,” which shall equal the number of months not less than the number of
whole calendar months reasonably expected by the Servicer to be necessary to accumulate from Series 2017-1 Available Principal
Collections and Shared Excess Available Principal Collections expected to be available to Series 2017-1 from other Shared Excess
Available Principal Collections Series during the Controlled Accumulation Period an amount equal to the Series 2017-1 Stated Principal
Amount; provided, however, that the Controlled Accumulation Period Length shall not be determined to be less than
one month.

    	 	23	 

     

    

 

Section 4.07.       
Investor Charge-Offs. On or prior to each Note Transfer Date, the Servicer shall calculate the Series 2017-1 Default
Amount, if any, for the related Payment Date. If, for any Payment Date, the Series 2017-1 Default Amount for the related Monthly
Period exceeds the amount available therefor pursuant to Section 4.04(d) with respect to such Monthly Period, the Allocation
Amount will be reduced by the amount of such excess, but not by more than the Series 2017-1 Default Amount for such Payment Date
(such reduction, an “Investor Charge-Off”).

Section 4.08.       
Reallocated Principal Collections. On each Payment Date, the Servicer shall apply, to the extent permitted herein,
or shall instruct the Indenture Trustee in writing to apply Reallocated Principal Collections with respect to such Payment Date,
in an amount equal to the lesser of (a) the Series 2017-1 Principal Collections, less any amount released and used to purchase
Receivables under Section 4.01(f), for the related Monthly Period or (b) the Monthly Subordination Amount for such Payment
Date in accordance with the priority set forth in Sections 4.04(a) and (b). On each Payment Date, the Allocation
Amount shall be reduced by the amount of Reallocated Principal Collections for such Payment Date.

Section 4.09.       
Shared Excess Available Finance Charge Collections.

(a)               
Series 2017-1 shall be included in Shared Excess Available Finance Charge Collections Group One for the purpose of sharing
Shared Excess Available Finance Charge Collections.

(b)              
Unless otherwise provided pursuant to the terms of Section 4.11 of the Indenture, Shared Excess Available Finance Charge
Collections with respect to any Monthly Period shall be shared within Shared Excess Available Finance Charge Collections Group
One to cover the applicable Series Available Finance Charge Collections Shortfalls for such Monthly Period, if any, and applied
on the Note Transfer Date in the immediately succeeding Monthly Period for each Shared Excess Available Finance Charge Collections
Group Series with a Series Available Finance Charge Collections Shortfall for such Monthly Period. Shared Excess Available Finance
Charge Collections allocable to Series 2017-1 with respect to each Monthly Period shall mean an amount equal to the Series Available
Finance Charge Collections Shortfall, if any, with respect to Series 2017-1 for such Monthly Period; provided, however,
that if the aggregate amount of Shared Excess Available Finance Charge Collections for all Series in Shared Excess Available Finance
Charge Collections Group One for each Monthly Period is less than the Aggregate Series Available Finance Charge Collections Shortfall
for such Monthly Period, then Shared Excess Available Finance Charge Collections allocable to Series 2017-1 with respect to such
Monthly Period shall equal the product of (i) Shared Excess Available Finance Charge Collections for all Series in Shared Excess
Available Finance Charge Collections Group One for such Monthly Period and (ii) a fraction, the numerator of which is the Series
Available Finance Charge Collections Shortfall with respect to Series 2017-1 for such Monthly Period and the denominator of which
is the Aggregate Series Available Finance Charge Collections Shortfall for such Monthly Period.

(c)               
Unless otherwise specified in the Indenture Supplement for any other Series in Shared Excess Available Finance Charge Collections
Group One, any Shared Excess Available Finance Charge Collections for each Series in Shared Excess Available Finance

    	 	24	 

     

    

Charge Collections Group One for any
Monthly Period which shall remain after application pursuant to clause (b) above shall be paid to the holders of the Transferor
Interest. Shared Excess Available Finance Charge Collections will not be available for application by other Series of Notes that
are not included in Shared Excess Available Finance Charge Collections Group One.

Section 4.10.       
Shared Excess Available Principal Collections.

(a)               
Series 2017-1 shall be included in Shared Excess Available Principal Collections Group One for the purpose of sharing Shared
Excess Available Principal Collections.

(b)              
Unless otherwise provided pursuant to the terms of Section 4.11 of the Indenture, Shared Excess Available Principal Collections
with respect to any Monthly Period shall be shared within Shared Excess Available Principal Collections Group One to cover the
applicable Series Available Principal Collections Shortfalls for such Monthly Period, if any, for each Shared Excess Available
Principal Collections Series with a Series Available Principal Collections Shortfall for such Monthly Period, and such Shared Excess
Available Principal Collections allocable to Series 2017-1 shall be distributed or deposited on the dates and in the order of priority
provided for under Sections 4.05(b)(i)-(iii). Shared Excess Available Principal Collections allocable to Series 2017-1 with
respect to each Monthly Period shall mean an amount equal to the Series Available Principal Collections Shortfall, if any, with
respect to Series 2017-1 for such Monthly Period; provided, however, that if the aggregate amount of Shared Excess
Available Principal Collections for all Series in Shared Excess Available Principal Collections Group One for each Monthly Period
is less than the Aggregate Series Available Principal Collections Shortfall for such Monthly Period, then Shared Excess Available
Principal Collections allocable to Series 2017-1 with respect to such Monthly Period shall equal the product of (i) Shared Excess
Available Principal Collections for all Series in Shared Excess Available Principal Collections Group One for such Monthly Period
and (ii) a fraction, the numerator of which is the Series Available Principal Collections Shortfall with respect to Series 2017-1
for such Monthly Period and the denominator of which is the Aggregate Series Available Principal Collections Shortfall for such
Monthly Period.

(c)               
Unless otherwise specified in the Indenture Supplement for any other Series in Shared Excess Available Principal Collections
Group One, any Shared Excess Available Principal Collections for each Series in Shared Excess Available Principal Collections Group
One for any Monthly Period which shall remain after application pursuant to clause (b) above shall be paid to the holders of the
Transferor Interest. Shared Excess Available Principal Collections will not be available for application by other Series of Notes
that are not included in Shared Excess Available Principal Collections Group One.

Section 4.11.       
Accumulation Reserve Account.

(a)               
The Servicer shall cause to be established and maintain an Eligible Deposit Account (the “Accumulation Reserve
Account”) bearing a designation clearly indicating that the funds and other property credited thereto are held for the
benefit of the Indenture Trustee and the Series 2017-1 Noteholders in accordance with Section 5.02(c) of the Indenture. The Indenture
Trustee shall possess all right, title and interest in all funds and property from time to

    	 	25	 

     

    

time credited to the Accumulation Reserve
Account and in all proceeds thereof. The Accumulation Reserve Account shall be under the exclusive control of the Indenture Trustee
for the benefit of the Series 2017-1 Noteholders. If at any time (i) the Accumulation Reserve Account ceases to be an Eligible
Deposit Account, the Transferor shall notify the Indenture Trustee, and the Indenture Trustee upon being notified in writing of
such ineligibility (or the Servicer or the Owner Trustee for the Issuer) shall within thirty (30) Business Days (or such longer
period not to exceed forty-five (45) Business Days upon satisfaction of the Note Rating Agency Condition) establish a new Accumulation
Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any funds or other property
to such new Accumulation Reserve Account or (ii) the Issuer determines for any reason that the Accumulation Reserve Account should
be held at a different Eligible Institution, then upon prior written notice to the Indenture Trustee, the Issuer shall establish
or cause to be established a new Accumulation Reserve Account that is an Eligible Deposit Account and shall transfer any funds
or other property from such Accumulation Reserve Account to such new Accumulation Reserve Account. From the date each such new
Accumulation Reserve Account is established, it shall be the “Accumulation Reserve Account.” The Indenture Trustee,
at the direction of the Servicer, shall (i) make withdrawals from the Accumulation Reserve Account from time to time in an amount
up to the Available Accumulation Reserve Account Amount at such time, for the purposes set forth in this Indenture Supplement,
and (ii) on each Payment Date during the Accumulation Reserve Account Funding Period make a deposit into the Accumulation Reserve
Account in the amount specified in, and otherwise in accordance with, Section 4.04(f).

(b)              
If a securities intermediary has been appointed, funds on deposit in the Accumulation Reserve Account, on any Note Transfer
Date, after giving effect to any withdrawals from the Accumulation Reserve Account on such Note Transfer Date, shall be invested
by the Indenture Trustee in Eligible Investments selected by the Servicer in accordance with written instructions from the Servicer;
provided, that the funds are invested in investments that shall mature so that such funds shall be available for withdrawal
on or prior to the following Note Transfer Date. No such Eligible Investment shall be disposed of prior to its maturity; provided,
however, that the Indenture Trustee shall sell, liquidate or dispose of any such Eligible Investment if, prior to the maturity
of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible
Investment; provided further, however, that the Servicer shall deliver prompt written notice to the Indenture Trustee
of any such default; and provided further, that, subject to Section 8.01 of the Indenture, the Indenture Trustee shall not
in any way be held liable by reason of any insufficiency in such Accumulation Reserve Account resulting from any loss on any Eligible
Investment included therein except for losses attributable to the Indenture Trustee’s failure to make payments on such Eligible
Investments issued by the Indenture Trustee, in its commercial capacity, in accordance with their terms. On each Note Transfer
Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Note Transfer Date on funds
on deposit in the Accumulation Reserve Account shall be retained in the Accumulation Reserve Account (to the extent that the Available
Accumulation Reserve Account Amount is less than the Required Accumulation Reserve Account Amount) and the balance, if any, shall
be deposited in the Collection Account for application in accordance with Section 4.04. For purposes of determining the
availability of funds or the balance in the Accumulation Reserve Account for any reason under this Indenture Supplement, except
as otherwise provided in the preceding

    	 	26	 

     

    

sentence, investment earnings, if any,
on such funds shall be deemed not to be available or on deposit.

(c)               
On the Note Transfer Date preceding (i) each Payment Date with respect to the Controlled Accumulation Period and (ii) the
first Payment Date of the Early Amortization Period, the Servicer shall calculate the “Accumulation Reserve Draw Amount”
which shall be equal to the excess, if any, of the Covered Amount with respect to such Payment Date over the Principal Funding
Account Investment Proceeds with respect to such Payment Date.

(d)              
In the event that for any Payment Date the Accumulation Reserve Draw Amount is greater than zero, the Accumulation Reserve
Draw Amount, up to the Available Accumulation Reserve Account Amount, shall be (i) withdrawn from the Accumulation Reserve Account
on the Note Transfer Date on which such Accumulation Reserve Draw Amount is calculated by the Indenture Trustee (acting in accordance
with the instructions of the Servicer) and (ii) deposited into the Collection Account for application as Series 2017-1 Available
Finance Charge Collections for such Payment Date.

(e)               
In the event that the Accumulation Reserve Account Surplus on any Payment Date, after giving effect to all deposits to and
withdrawals from the Accumulation Reserve Account with respect to such Payment Date, is greater than zero, the Indenture Trustee
(acting in accordance with the instructions of the Servicer) shall withdraw from the Accumulation Reserve Account, and pay to the
Owner Trustee for distribution in accordance with the Trust Agreement an amount equal to such Accumulation Reserve Account Surplus.

(f)                
Upon the earliest to occur of (i) the day on which the Allocation Amount is reduced to zero, (ii) the occurrence of an Event
of Default with respect to the Series 2017-1 Notes and acceleration of such Series 2017-1 Notes pursuant to Section 7.02 of the
Indenture, (iii) the first Payment Date with respect to the Early Amortization Period, (iv) the Expected Final Payment Date, and
(v) the termination of the Trust pursuant to the Trust Agreement, the Indenture Trustee (acting in accordance with the instructions
of the Servicer) after the prior payment of all amounts owing to the Series 2017-1 Noteholders which are payable from the Accumulation
Reserve Account as provided herein, shall withdraw from the Accumulation Reserve Account and pay to the holders of the Transferor
Interest all amounts, if any, on deposit in the Accumulation Reserve Account and the Accumulation Reserve Account shall be deemed
to have terminated for purposes of this Indenture Supplement.

(g)               
Notwithstanding the foregoing, following an Event of Default with respect to the Series 2017-1 Notes and acceleration of
such Series 2017-1 Notes, any Accumulation Reserve Account Surplus or other amounts on deposit in the Accumulation Reserve Account
shall be applied toward payment of any amounts owing with respect to the Series 2017-1 Notes before such amounts are paid to the
holders of the Transferor Interest.

Section 4.12.       
Investment Instructions. Any investment instructions given to the Indenture Trustee pursuant to the terms hereof
must be given to the Indenture Trustee no later than 1:00 P.M. (New York City time) on the date such investment is to be made.
In the event the Indenture Trustee receives such investment instruction later than such time, the Indenture Trustee may, but shall
have no obligation to, make such investment. In the event the Indenture

    	 	27	 

     

    

Trustee is unable to make an investment
required in an investment instruction received by the Indenture Trustee after 1:00 P.M. (New York City time) on such day, such
investment shall be made by the Indenture Trustee on the next succeeding Business Day. In no event shall the Indenture Trustee
be liable for any investment not made pursuant to investment instructions received after 1:00 P.M. (New York City time) on the
day such investment is requested to be made.

Section 4.13.       
Determination of LIBOR.

(a)               
On each LIBOR Determination Date, the Indenture Trustee shall determine LIBOR for the related Interest Period, which shall
be the rate for deposits in United States dollars for a period equal to one-month (commencing on the first day of such Interest
Period) that appears on Reuters Screen LIBOR01 Page as of 11:00 A.M., London time, on such date; provided, however, that with respect
to the first Interest Period, LIBOR will be the rate appearing on Reuters Screen LIBOR01 Page (or such other page as may replace
that page on that service for the purpose of displaying comparable rates or prices) as of 11:00 a.m., London time, on that date
for an interpolated rate for deposits in United States dollars for a period that corresponds to the actual number of days in the
first Interest Period. Upon such determination, the Indenture Trustee shall notify the Servicer of LIBOR for such LIBOR Determination
Date. If such rate does not appear on Reuters Screen LIBOR01 Page, the rate for the LIBOR Determination Date shall be determined
on the basis of the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00
A.M., London time, on that day to prime banks in the London interbank market for a period equal to one-month (or, for the first
Interest Period, an interpolated rate for deposits in United States dollars for a period that corresponds to the actual number
of days in the first Interest Period) commencing on the first day of such Interest Period. The Servicer shall request the principal
London office of each of the Reference Banks to provide a quotation of its rate. If at least two (2) such quotations are provided,
the rate for that LIBOR Determination Date shall be the arithmetic mean of the quotations. If fewer than two (2) quotations are
provided as requested, the rate for that LIBOR Determination Date shall be the arithmetic mean of the rates quoted by major banks
in New York City, selected by the Servicer, at approximately 11:00 A.M., New York City time, on that day for loans in United States
dollars to leading European banks for a period equal to one-month (or, for the first Interest Period, an interpolated rate for
deposits in United States dollars for a period that corresponds to the actual number of days in the first Interest Period) commencing
on the first day of such Interest Period. If the banks selected by the Servicer are not quoting rates as provided in the immediately
preceding sentence, LIBOR for such Interest Period shall be LIBOR in effect for the immediately preceding Interest Period.

(b)              
The Servicer shall determine, as applicable, and promptly notify the Transferor and the Indenture Trustee of, the Class
A Note Interest Rate and the Class B Note Interest Rate for the applicable Interest Period. The Class A Note Interest Rate and
the Class B Note Interest Rate applicable to the then current and the immediately preceding Interest Periods may be obtained by
any Series 2017-1 Noteholder by telephoning the Indenture Trustee at its Corporate Trust Office at 1-800-934-6802.

Section 4.14.       
Sale of Collateral for Series 2017-1 Notes That are Accelerated or Reach Legal Maturity.

    	 	28	 

     

    

(a)               
If the Series 2017-1 Notes have been accelerated pursuant to Section 7.02 of the Indenture following an Event of Default,
the Indenture Trustee may, subject to the conditions specified in Section 4.14(b), and at the direction of the Holders of
more than 66 2⁄3% of the Outstanding Dollar Principal Amount of the Series 2017-1 Notes will, subject to the conditions specified
in Section 4.14(b), sell Principal Receivables (or interests therein) in an amount (as determined by the Issuer and provided
to the Indenture Trustee) not to exceed the Allocation Amount as of the close of business on the day preceding such sale, plus
any related Finance Charge Receivables.

(b)              
Such a sale will be permitted only if at least one of the following conditions is met:

(i)                 
the Holders of more than 90% of the aggregate Outstanding Dollar Principal Amount of the Series 2017-1 Notes consent; or

(ii)               
the net proceeds of such sale (plus amounts on deposit in the Issuer Accounts) would be sufficient to pay all amounts
due on the Series 2017-1 Notes; or

(iii)              
the Indenture Trustee in consultation with the Servicer determines that the funds to be allocated to the Series 2017-1 Notes,
including (1) Series 2017-1 Available Finance Charge Collections and Series 2017-1 Available Principal Collections and (2) amounts
on deposit in the Issuer Accounts, may not be sufficient on an ongoing basis to make all payments on the Series 2017-1 Notes as
such payments would have become due if such obligations had not been declared due and payable, and Series 2017-1 Noteholders evidencing
more than 66 2⁄3% of the aggregate Outstanding Dollar Principal Amount of the Series 2017-1 Notes consent to the sale; provided,
that the Issuer will provide the Indenture Trustee with the information reasonably requested by the Indenture Trustee to make such
determination.

(c)               
If the Allocation Amount is greater than zero on the Legal Maturity Date (after giving effect to any allocations, deposits
and payments otherwise to be made on that Legal Maturity Date), the Indenture Trustee shall, no later than the Legal Maturity Date,
sell or cause to be sold Principal Receivables (or interests therein) in an amount not to exceed the Allocation Amount as of the
close of business on the day preceding such sale, plus any related Finance Charge Receivables.

(d)              
Upon the occurrence of such sale, the Allocation Amount shall be automatically reduced to zero and Principal Collections
and Finance Charge Collections shall no longer be allocated to the Series 2017-1 Notes.

(e)               
Sale proceeds received with respect to the Series 2017-1 Notes pursuant to clause (a) or (c) above will be applied as specified
in Section 7.06 of the Indenture, and amounts available for application pursuant to clause (b) of Section 7.06 should be allocated
and paid in the following priority:

first,
to the Class A Noteholders, until the Class A Stated Principal Amount and all current and past due Class A Monthly Interest and
Class A Additional Interest has been paid in full; and

    	 	29	 

     

    

second,
to the Class B Noteholders, until the Class B Stated Principal Amount and all current and past due Class B Monthly Interest and
Class B Additional Interest has been paid in full.

Section 4.15.       
Distribution Account. The Issuer shall cause to be established and maintained an Eligible Deposit Account (the “Distribution
Account”), bearing a designation clearly indicating that the funds and other property credited thereto are held for the
benefit of the Indenture Trustee and the Class A Noteholders in accordance with Section 5.02(c) of the Indenture. The Indenture
Trustee shall possess all right, title and interest in all funds and property from time to time credited to the Distribution Account
and in all proceeds thereof. The Distribution Account shall be under the exclusive control of the Indenture Trustee for the benefit
of the Class A Noteholders. If, at any time the Distribution Account ceases to be an Eligible Deposit Account, the Indenture Trustee
shall within thirty (30) Business Days (or such longer period upon satisfaction of the Note Rating Agency Condition, but in any
event not to exceed forty-five (45) Business Days) establish a new Distribution Account meeting the conditions specified above
as an Eligible Deposit Account and shall transfer any funds or other property to such new Distribution Account. Pursuant to the
authority granted to the Servicer in Section 3.1 of the Servicing Agreement, the Servicer shall have the power to instruct the
Indenture Trustee to make withdrawals and payments from the Distribution Account for the purposes of carrying out the Servicer’s
or Indenture Trustee’s duties hereunder.

Section 4.16.       
Delinquency Trigger Percentage. As of the Closing Date, the Delinquency Trigger Percentage is 9.00%. If due to the
introduction or any change in or in the interpretation of any law or regulations or the imposition of any guideline or request
from any central bank or other Governmental Authority, in each case after the date hereof, the Delinquency Trigger Percentage (in
the reasonable good faith judgment of the Servicer) should be re-determined, the Servicer shall submit to the Indenture Trustee
an Officer’s Certificate setting forth in reasonable detail the basis for the re-determination and the revised Delinquency
Trigger Percentage. In the absence of manifest error, and following the delivery of such Officer’s Certificate to the Indenture
Trustee, the revised Delinquency Trigger Percentage shall be effective as of the date such revised Delinquency Trigger Percentage
is reported in the Monthly Noteholders’ Statement.

Section 4.17.       
Asset Review.

(a)               
Upon the occurrence of a Delinquency Trigger Event any Noteholder, including any Note Owner, of an Outstanding Note shall
have the right with respect to such Delinquency Trigger Event to initiate a vote to determine whether or not to direct the Asset
Representations Reviewer to undertake a review of Sixty Day Delinquent Assets to determine whether or not such Sixty Day Delinquent
Assets complied with the ARR Representations and Warranties (the “ARR Review”). Upon disclosure of the occurrence
of a Delinquency Trigger Event in the Monthly Noteholders’ Statement relating to the Monthly Period when the Delinquency
Trigger Event occurred, Noteholders shall have 90 days from the date of such disclosure to determine whether or not to initiate
a vote. In order to initiate a vote, during such 90 day period Noteholders must send written notification to the Indenture Trustee
indicating that in light of the occurrence of a Delinquency Trigger Event (such Delinquency Trigger Event to be specified in such
written notification) they are in favor of initiating a vote with respect to such specified Delinquency Trigger Event to determine
whether or not to direct the Asset

    	 	30	 

     

    

Representations Reviewer to undertake
an ARR Review. The Indenture Trustee shall record the written notifications received from Noteholders during such 90 day period
as they relate to each identified Delinquency Trigger Event. Prior, however, to recording any written notification received during
such 90 day period, the Indenture Trustee must receive verification from any Note Owner that it is in fact a Holder of a beneficial
interest in an Outstanding Note. Such verification shall be in the form of (x) a written certification from such Note Owner and
(y) one other form of documentation such as a trade confirmation, account statement, a letter from a broker or dealer, or other
similar document. The Indenture Trustee may also set a record date for purposes of determining the identity of Noteholders in accordance
with the Trust Indenture Act Section 316(c). If at any time during such 90 day period Noteholders holding no less than 5% of the
aggregate Adjusted Outstanding Dollar Principal Amount of all Outstanding Notes (determined as of the date the Delinquency Trigger
Event occurred) are recorded by the Indenture Trustee with respect to a specified Delinquency Trigger Event as being in favor of
initiating a vote to determine whether or not to direct the Asset Representations Reviewer to undertake an ARR Review, then promptly
after the date of recordation of such 5% with respect to such Delinquency Trigger Event a vote shall be initiated and undertaken
pursuant to standard vote solicitation procedures of the Indenture Trustee which may include the use of a vote solicitation/tabulation
agent and the voting guidelines promulgated by the DTC relating to notes registered in the name of Cede & Co. If initiated,
the Issuer shall include in its Securities Exchange Act Form 10-D filing related to the Monthly Period in which such vote was initiated
(a) the date such vote was initiated, (b) the timeline for submitting a vote, and (c) a statement to the effect that Noteholders
can exercise their right to vote, by proxy or otherwise, in accordance with, as applicable, the applicable DTC voting guidelines
and procedures. BBD, in its individual capacity, shall pay all costs, expenses and liabilities incurred by the Indenture Trustee,
the Transferor and the Issuer in connection with the voting process. The vote as to whether or not to undertake an ARR Review shall
be completed within 150 days of disclosure in the Monthly Noteholders’ Statement of the occurrence of a Delinquency Trigger
Event. If at the end of such 150 day period Noteholders holding more than 50% of the aggregate Adjusted Outstanding Dollar Principal
Amount of Noteholders casting a vote, cast such vote in favor of an ARR Review, then the Asset Representations Reviewer (upon receipt
of notification from the Servicer) shall undertake an ARR Review. The Sixty Day Delinquent Assets reviewed shall be those reported
in and relating to the Monthly Noteholders’ Statement for the Monthly Period in which the conditions for an ARR Review were
satisfied. The Servicer shall provide the Asset Representations Reviewer with notice of a vote in favor of an ARR Review and access
to copies of any underlying documents related to performing the ARR Review, as set forth in the Asset Representations Reviewer
Agreement. If Noteholders holding more than 50% of the aggregate Adjusted Outstanding Dollar Principal Amount of Noteholders casting
a vote, cast such vote in favor of an ARR Review, then the Issuer shall include in its Securities Exchange Act Form 10-D filing
related to the Monthly Period in which such voting concluded a statement to the effect that a vote was conducted and that as a
result of such vote an ARR Review shall be undertaken by the Asset Representations Reviewer relating to the specified Delinquency
Trigger Event. If Noteholders holding less than 50% of the aggregate Adjusted Outstanding Dollar Principal Amount of the Noteholders
casting a vote, cast such vote in favor of an ARR Review, then the Issuer shall include in its Securities Exchange Act Form 10-D
filing related to the Monthly Period in which such voting concluded a statement to the effect that a vote was conducted and

    	 	31	 

     

    

that as a result of such vote no ARR
Review shall be undertaken by the Asset Representations Reviewer relating to the specified Delinquency Trigger Event.

(b)              
Upon completion of the ARR Review, the Asset Representations Reviewer shall deliver a report to the Indenture Trustee, with
a copy to BBD, setting forth its findings and conclusions. Such report shall not determine whether noncompliance with the ARR Representations
and Warranties constitutes a breach of any contractual provision under the Transaction Documents, and the Asset Representations
Reviewer will not determine the reason for the delinquency of any Receivable, the creditworthiness of any Obligor, the overall
quality of any Receivable or the compliance by the Servicer with its covenants with respect to servicing of the Receivables. The
Form 10-D filed with respect to the Monthly Period in which the report is delivered shall include a summary of the findings and
conclusions. Not later than sixty days after receipt of the full report from the Asset Representations Reviewer, BBD, in its individual
capacity, shall determine whether any instance of noncompliance with the ARR Representations and Warranties constitutes a breach
of any contractual provision under the Transaction Documents and whether or not to direct a reassignment of any of the Receivables
subject to the ARR Review.

Section 4.18.       
Governing Law For Hague Securities Convention. Pursuant to Section 8-110(e)(1) of the relevant UCC for purposes of
the relevant UCC and the Hague Securities Convention, the local law of the jurisdiction of the Securities Intermediary is the law
of the State of New York. Further, the law of the State of New York shall govern all issues specified in Article 2(1) of the Hague
Securities Convention and the “securities intermediary’s jurisdiction” as defined in the relevant UCC shall be
the State of New York.

[END OF ARTICLE IV]

Article
V

EARLY AMORTIZATION OF NOTES

Section 5.01.       
Early Amortization Events. In addition to the events identified as Early Amortization Events in Article XII of the
Indenture, the occurrence of any of the following events (each, an “Early Amortization Event”) shall result
in an early amortization event for the Series 2017-1 Notes:

(a)               
if the Quarterly Excess Spread Percentage is less than the Required Excess Spread Percentage; or

(b)              
a failure by Transferor under the Transfer Agreement to convey Receivables in Additional Accounts within five Business Days
after the day on which it is required to convey such Receivables pursuant to Section 2.11(a) of the Transfer Agreement or, if applicable,
Section 2.15(c) of the Transfer Agreement; or

(c)               
if any Servicer Default occurs which would have a material adverse effect on the Series 2017-1 Noteholders; or

(d)              
the failure to pay the Notes in full on the Expected Final Payment Date; or

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(e)               
the occurrence of an Event of Default and acceleration of the Series 2017-1 Notes pursuant to Article VII of the Indenture;
or

(f)                
(i) failure on the part of Transferor to make any payment or deposit required to be made by it by the terms of the Transfer
Agreement on or before the date occurring five Business Days after the date such payment or deposit is required to be made therein
or (ii) failure of the Transferor duly to observe or perform in any material respect any of its covenants or agreements set forth
in the Transfer Agreement, which failure has a material adverse effect on the Series 2017-1 Noteholders and which continues unremedied
for a period of sixty 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 Indenture Trustee, or to the Transferor and the Indenture Trustee by any Noteholder of the
Series 2017-1 Notes; or

(g)               
any representation or warranty made by Transferor in the Transfer Agreement or any information contained in an account schedule
required to be delivered by it pursuant to the Transfer Agreement 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 sixty 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 Indenture Trustee,
or to the Transferor and the Indenture Trustee by any Noteholder of the Series 2017-1 Notes and as a result of which the interests
of the Series 2017-1 Noteholders are materially and adversely affected for such period; provided, however, that an
Early Amortization Event pursuant to this Section 5.01(g) 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 Transfer Agreement.

In the case of any
event described in Sections 5.01(a), (b), (d), or (e), an Early Amortization Event shall occur without
any notice or other action on the part of the Indenture Trustee or the Noteholders immediately upon the occurrence of such event.
In the case of any event described in Sections 5.01(c), (f) or (g), after the applicable grace period, if
any, set forth in such subparagraphs, either the Indenture Trustee or the holders of Series 2017-1 Notes evidencing more than 50%
of the aggregate unpaid principal amount of Series 2017-1 Notes by notice then given in writing to the Issuer (and to the Indenture
Trustee if given by the Series 2017-1 Noteholders) may declare that an Early Amortization Event has occurred with respect to the
Series 2017-1 Notes as of the date of such notice.

Section 5.02.       
Early Redemption Event. If Principal Receivables having an aggregate principal balance in an amount equal to or greater
than 30% of the Pool Balance are designated for reassignment to the Transferor pursuant to Section 2.12(d) of the Transfer Agreement,
and the Servicer determines that the Transferor Amount would be less than the Required Transferor Amount after giving effect to
such reassignment, and giving effect to any scheduled payments on the Notes and any Account Additions that are scheduled to occur
on or prior to the Removal Date, then an “Early Redemption Event” will be deemed to have occurred with respect to the
Series 2017-1 Notes on the related Removal Date. If an Early Redemption Event occurs under this Section 5.02, the Issuer
will apply all funds received from the Transferor in connection with such reassignment on the first Payment Date following the
Monthly Period in which such Early Redemption Event occurred to redeem Series 2017-1 Notes and Notes of each other Series

    	 	33	 

     

    

subject to early redemption pursuant
to a provision similar to this Section 5.02, on a pro rata basis among each such Series and within each such Series
on a pro rata basis between each Class of Notes of such Series, based on the respective Stated Principal Amounts of each
such Series and each such Class of Notes subject to early redemption.

[END OF ARTICLE V]

Article
VI

LEGAL MATURITY; FINAL PAYMENTS

Section 6.01.       
Legal Maturity. The Series 2017-1 Notes shall be considered to be paid in full, the Holders of such Series 2017-1
Notes shall have no further right or claim, and the Issuer shall have no further obligation or liability with respect to such Series
2017-1 Notes on the earliest to occur of (i) the date on which the Outstanding Dollar Principal Amount with respect to Series 2017-1,
and all Monthly Interest on such Series 2017-1 Notes, is paid in full, (ii) the date on which Collateral is sold and the proceeds
in respect thereof applied in accordance with Section 7.08 of the Indenture and Section 4.14, and (iii) the Legal
Maturity Date, in each case after giving effect to all deposits, allocations, reimbursements, reallocations, sales of Collateral
and payments to be made in connection therewith.

[END OF ARTICLE VI]

Article
VII

DELIVERY OF SERIES 2017-1 NOTES; DISTRIBUTIONS AND REPORTS TO SERIES 2017-1 NOTEHOLDERS

Section 7.01.       
Form of Delivery for the Series 2017-1 Notes; Depository; Denominations.

(a)               
The Class A Notes shall be delivered in the form of global Registered Notes as provided in Section 3.02 of the Indenture.

(b)              
The Class B Notes shall be delivered in the form of definitive Notes as provided in Section 3.02 of the Indenture.

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

(d)              
The Series 2017-1 Notes shall be issued in minimum denominations of $100,000 and integral multiples of $1,000.

Section 7.02.       
Delivery and Payment for the Series 2017-1 Notes. The Issuer shall execute and deliver the Series 2017-1 Notes to
the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Series 2017-1 Notes when authenticated, each
in accordance with Section 4.03 of the Indenture.

    	 	34	 

     

    

 

Section 7.03.       
Distributions.

(a)               
On each Payment Date, the Paying Agent shall distribute, based upon the statement delivered by the Servicer pursuant to
Section 7.04(b) hereof, to each Class A Noteholder of record on the related Record Date such Class A Noteholder’s
pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest
on the Class A Notes pursuant to this Indenture Supplement.

(b)              
On each Payment Date with respect to the Early Amortization Period and on the Expected Final Payment Date, the Paying Agent
shall distribute, based upon the statement delivered by the Servicer pursuant to Section 7.04(b) hereof, to each Class A
Noteholder of record on the related Record Date such Class A Noteholder’s pro rata share of the amounts on deposit
in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such Payment Date to
pay principal of the Class A Notes pursuant to this Indenture Supplement.

(c)               
On each Payment Date, the Paying Agent shall distribute, based upon the statement delivered by the Servicer pursuant to
Section 7.04(b) hereof, to each Class B Noteholder of record on the related Record Date such Class B Noteholder’s
pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to pay interest
on the Class B Notes pursuant to this Indenture Supplement.

(d)              
On each Payment Date with respect to the Early Amortization Period and on the Expected Final Payment Date, the Paying Agent
shall distribute, based upon the statement delivered by the Servicer pursuant to Section 7.04(b) hereof, to each Class B
Noteholder of record on the related Record Date such Class B Noteholder’s pro rata share of the amounts on deposit
in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such Payment Date to
pay principal of the Class B Notes pursuant to this Indenture Supplement.

(e)               
The distributions to be made pursuant to this Section 7.03 are subject to the provisions of Sections 2.7 and Section
4.1 of the Transfer Agreement and Section 6.1 of the Servicing Agreement.

(f)                
Except as provided in Section 13.08 of the Indenture with respect to a final distribution, distributions to Series 2017-1
Noteholders hereunder shall be made by check mailed to each Series 2017-1 Noteholder at such Series 2017-1 Noteholder’s address
appearing in the Note Register without presentation or surrender of any Series 2017-1 Note or the making of any notation thereon;
provided, however, that with respect to the Class A Notes registered in the name of a clearing agency, such distributions
shall be made to such clearing agency in immediately available funds and with respect to the Holder of any Class B Note if such
Holder shall have provided written wire transfer instructions to the Indenture Trustee not less than five Business Days prior to
the Payment Date, then the Indenture Trustee shall make distributions to such Holder by wire transfer of immediately available
funds.

Section 7.04.       
Reports and Statements to Series 2017-1 Noteholders.

    	 	35	 

     

    

(a)               
On each Payment Date, the Paying Agent, on behalf of the Indenture Trustee, shall forward to each Series 2017-1 Noteholder
a statement substantially in the form of Exhibit B-1 (or otherwise containing substantially comparable information) prepared
by the Servicer and delivered to the Paying Agent, which shall (amongst other things) set forth the Transferor Percentage as of
the Transferor Amount Measurement Date.

(b)              
On or prior to the second Business Day preceding each Payment Date, the Servicer shall deliver to the Indenture Trustee,
the Paying Agent, the Transferor, each Note Rating Agency and the Owner Trustee (i) a statement substantially in the form of Exhibit
B-3 (or otherwise containing substantially comparable information) prepared by the Servicer and (ii) a certificate of a Servicing
Officer substantially in the form of Exhibit C (or otherwise containing substantially comparable information).

(c)               
On or before the date that is forty-five (45) days after each calendar quarter, beginning with the second quarter of 2017,
the Servicer shall provide to the Paying Agent, and the Paying Agent on behalf of the Indenture Trustee, shall forward to each
Series 2017-1 Noteholder:

(i)                 
information with respect to the credit performance of the Series 2017-1 Notes and the Receivables, including periodic and
cumulative Receivables performance data, delinquency and modification data for the Receivables, substitutions and removals of the
Receivables, servicer advances, if applicable, as well as losses that were allocated to the Series 2017-1 Notes, if applicable,
the remaining balance of the Receivables, and the percentage of each Class of Series 2017-1 Notes in relation to the Series 2017-1
Notes as a whole; and

(ii)               
a statement regarding any changes to the information that was disclosed in connection with the issuance of the Series 2017-1
Notes regarding the nature and amount of compensation paid to BBD, each Note Rating Agency (if applicable), any third-party advisor,
any mortgage or other broker, and the Servicer, the extent to which any risk of loss on the Receivables is retained by any of them,
and the amount and nature of any deferred compensation or similar arrangements.

(d)              
At the time of delivery of any periodic distribution report and in any event at least once per calendar quarter, while the
Series 2017-1 Notes are outstanding, the Paying Agent on behalf of the Indenture Trustee, shall forward to each Series 2017-1 Noteholder
copies of the Credit Risk and Performance Disclosure.

(e)               
A copy of each statement or certificate provided pursuant to Section 7.04(a), (b) or (c) above may
be obtained by any Series 2017-1 Noteholder or any Note Owner thereof by a request in writing to the Servicer.

(f)                
On or before January 31 of each calendar year, beginning with calendar year 2018, the Paying Agent, on behalf of the Indenture
Trustee, shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series
2017-1 Noteholder, a statement substantially in the form of Exhibit B-2 to this Indenture Supplement prepared by the Servicer
for such calendar year or the applicable portion thereof during which

    	 	36	 

     

    

such Person was a Series 2017-1 Noteholder,
together with other information as is required to be provided by an issuer of indebtedness under the Code. Such obligation of the
Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the
Paying Agent pursuant to any requirements of the Code as from time to time in effect.

Section 7.05.       
Restrictions on Transfer of the Class B Notes. The Class B Notes (i) shall be subject to the transfer restrictions
set forth in Section 8.07 of this Indenture Supplement, (ii) shall bear the legend set forth in Section 4.05(j) of the Indenture
and be subject to the terms and transfer restrictions provided in such Section 4.05(j) and (iii) shall bear the following legend
and be subject to the transfer restrictions provided therein:

THIS CLASS B NOTE (OR ANY INTEREST
HEREIN) MAY NOT BE PURCHASED WITH THE ASSETS OF (I) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF
ERISA, (II) A “PLAN” DESCRIBED IN AND SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”), OR (III) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF AN EMPLOYEE
BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY. IF PURCHASER IS (OR IS ACTING ON BEHALF OF) A GOVERNMENTAL, NON-U.S.
OR CHURCH PLAN THAT IS SUBJECT TO ANY STATE, LOCAL OR OTHER LAW THAT IS SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975 OF THE
CODE (“SIMILAR LAW”), THE ACQUISITION, HOLDING AND DISPOSITION WILL NOT RESULT IN A VIOLATION OF SIMILAR LAW. NO CLASS
B NOTE HOLDER WILL BE PERMITTED TO TRANSFER THE CLASS B NOTES TO ANY PERSON OR ENTITY, UNLESS SUCH PERSON OR ENTITY CAN ITSELF
TRUTHFULLY MAKE THE FOREGOING REPRESENTATIONS AND COVENANTS AS PRESENTED IN THIS PARAGRAPH AND NO TRANSFER OF ANY INTEREST IN CLASS
B NOTES MAY OCCUR EXCEPT IN COMPLIANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INDENTURE SUPPLEMENT.

[END OF ARTICLE VII]

Article
VIII

MISCELLANEOUS PROVISIONS

Section 8.01.       
Non-petition Covenant. To the fullest extent permitted by applicable law, the Indenture Trustee, by entering into
this Indenture Supplement, agrees that it will not at any time, acquiesce, petition or otherwise invoke or cause the Issuer or
the Transferor to invoke the process of any Governmental Authority for the purpose of commencing or sustaining a case against the
Issuer or the Transferor under any Debtor Relief Law or appointing a receiver, conservator, liquidator, assignee, trustee, custodian,
sequestrator or other similar official for the

    	 	37	 

     

    

Issuer or the Transferor or any substantial
part of its property or ordering the winding-up or liquidation of the affairs of the Issuer or the Transferor.

Section 8.02.       
Actions by the Issuer. Subject to the Servicing Agreement, all action to be taken by the Issuer under this Indenture
Supplement shall be taken by the Administrator or the Owner Trustee on behalf of the Issuer and all notices to be given or received
by the Issuer under this Indenture Supplement shall be given or received by the Administrator or the Owner Trustee, on behalf of
the Issuer.

Section 8.03.       
Limitations on Liability.

(a)               
It is expressly understood and agreed by the parties hereto that (i) this Indenture Supplement is executed and delivered
by the Owner Trustee, not individually or personally but solely as Owner Trustee under the Trust Agreement, in the exercise of
the powers and authority conferred and vested in it, (ii) each of the representations, undertakings and agreements herein made
on the part of the Issuer is made and intended not as a personal representation, undertaking or agreement by the Owner Trustee
but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained shall be construed as creating
any liability on the Owner Trustee, individually or personally, to perform any covenant of the Issuer either expressed or implied
contained herein, all such liability, if any, being expressly waived by the parties to the Indenture and by any Person claiming
by, through or under them and (iv) under no circumstances shall the Owner Trustee be personally liable for the payment of any indebtedness
or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or
undertaken by the Issuer under this Indenture Supplement or any related documents.

(b)              
None of the Indenture Trustee, the Owner Trustee, the Servicer, the Administrator, the Beneficiary or any other beneficiary
of the Issuer or any of their respective officers, directors, employees, members, incorporators or agents shall have any liability
with respect to this Indenture Supplement, and any recourse may be had solely to the Collateral.

(c)               
In no event shall the Indenture Trustee have any responsibility to monitor compliance with Regulation RR or any other rules
or regulations regarding risk retention. The Indenture Trustee shall not be charged with knowledge of such rules, nor shall it
be liable to any Series 2017-1 Noteholder or any other party for a violation of such rules and regulations now or hereinafter in
effect.

Section 8.04.       
FATCA. Each Series 2017-1 Noteholder or Note Owner, by the purchase of such Series 2017-1 Note or its acceptance
of a beneficial interest therein, acknowledges that interest on the Series 2017-1 Notes will be treated as United States source
interest, and, as such, United States withholding tax may apply. Each Series 2017-1 Noteholder or Note Owner further agrees, upon
request, to provide any certifications that may be required under applicable law, regulations or procedures to evidence such status
and understands that if it ceases to satisfy the foregoing requirements or provide requested documentation, payments to it under
the Series 2017-1 Notes may be subject to United States withholding tax (without any corresponding gross-up). Without limiting
the foregoing, if a payment made under this Indenture Supplement or the Indenture would be subject to United States federal withholding
tax imposed by FATCA if the

    	 	38	 

     

    

recipient of such payment were to fail
to comply with FATCA (including the requirements of Code Sections 1471(b) or 1472(b), as applicable), such recipient shall deliver
to the Issuer, with a copy to the Indenture Trustee, at the time or times prescribed by the Code and at such time or times reasonably
requested by the Issuer or the Indenture Trustee, such documentation prescribed by the Code (including as prescribed by Code Section
1471(b)(3)(C)(i)) and such additional documentation reasonably requested by the Issuer or the Indenture Trustee to comply with
their respective obligations under FATCA, to determine that such recipient has complied with such recipient’s obligations
under FATCA, or to determine the amount to deduct and withhold from such payment. For these purposes, “FATCA” means
Section 1471 through 1474 of the Code and any regulations or official interpretations thereof (including any revenue ruling, revenue
procedure, notice or similar guidance issued by the U.S. Internal Revenue Service thereunder as a precondition to relief or exemption
from taxes under such Sections, regulations and interpretations), any agreements entered into pursuant to Code Section 1471(b)(1),
and including any amendments made to FATCA after the date of this Indenture Supplement.

Section 8.05.       
[RESERVED].

Section 8.06.       
Amendments. Except as expressly set forth in Article X of the Indenture, this Indenture Supplement may not be amended,
restated, supplemented or modified.

Section 8.07.       
Class B Notes.

(a)               
Notwithstanding anything to the contrary in this Indenture Supplement, no interest in the Class B Notes may be directly
or indirectly sold, transferred, assigned, exchanged, participated or otherwise conveyed, pledged, hypothecated or rehypothecated
or made the subject of a security interest (each such transaction for purposes of this Section 8.07, a “Transfer”)
except to a Person who is a “United States person” for United Stated federal income tax purposes and only upon the
prior delivery of an Issuer Tax Opinion to the Indenture Trustee with respect to such Transfer, and any Transfer in violation of
these requirements shall be null and void ab initio.

(b)              
If not transferred in compliance with the registration provisions of the Securities Act, then no interest in the Class B
Notes may be offered, sold or transferred, except (i) pursuant to Rule 144A under the Securities Act (“Rule 144A”)
to a person the Noteholder reasonably believes is a “qualified institutional buyer” (a “QIB”) in
a transaction meeting the requirements of Rule 144A, purchasing for its own account or for the account of a QIB, whom it has informed
that such offer, sale or other transfer is being made in reliance on Rule 144A, or (ii) in an offshore transaction meeting the
requirements of Rule 903 or 904 of Regulation S under the Securities Act to a person it reasonably believes is an accredited investor
as defined in any of paragraphs (1), (2), (3) and (7) of Rule 501(a) of Regulation D under the Securities Act and any entity in
which all of the equity owners come within such paragraphs (an “IAI”) or a QIB, purchasing for its own account
or for the account of another IAI or a QIB.

Section 8.08.       
Appointment of Asset Representations Reviewer. Pursuant to the Asset Representations Reviewer Agreement, BBD, in
its individual capacity, has engaged and the Issuer has appointed Clayton Fixed Income Services LLC, a Delaware limited liability
company, as the Asset Representations Reviewer to perform the obligations of the Asset Representations

    	 	39	 

     

    

Reviewer as set forth therein and herein,
respectively. The Issuer hereby represents and warrants that the Asset Representations Reviewer (i) is not, and, for so long as
the Series 2017-1 Notes are outstanding, will not be, an Affiliate of Barclays Bank Delaware, Barclays Dryrock Funding LLC, U.S.
Bank National Association or Wilmington Trust, National Association, nor an Affiliate of an Affiliate of Barclays Bank Delaware,
Barclays Dryrock Funding LLC, U.S. Bank National Association or Wilmington Trust, National Association, and (ii) has not been hired
by Barclays Bank Delaware to perform pre-closing due diligence work relating to the Receivables.

Section 8.09.       
Dispute Resolution.

(a)               
If a Person (including any Holder of a beneficial interest in an Outstanding Note) requests a repurchase (the “Requesting
Party”) of any Receivable pursuant to their rights under a Transaction Document due to an alleged breach of a representation
and warranty, and the repurchase request has not been fulfilled or otherwise resolved within 180 days of the receipt of such repurchase
request by the party obligated for the repurchase (the “Repurchase Party”), then the Requesting Party shall
have the right, through the DTC communication procedures or otherwise, to refer the matter, at its discretion, to either mediation
or third-party arbitration, and the Repurchase Party hereby agrees to the selected resolution method.

(b)              
If the Requesting Party selects mediation as the resolution method, the mediation will be administered by a nationally recognized
mediation association mutually agreed upon by the Repurchase Party and the Requesting Party, and the fees and expenses of the mediation
will be allocated as mutually agreed upon by the Repurchase Party and the Requesting Party as part of the mediation. If the Requesting
Party selects arbitration as the resolution method, the arbitration will be administered by a nationally recognized arbitration
association mutually agreed upon by the Repurchase Party and the Requesting Party. In its final determination, the arbitrator will
allocate the costs and expenses of the arbitration.

(c)               
Any mediation or arbitration will be held in New York, New York, and no Person may bring a putative or certified class action
to arbitration. Unless otherwise publicly available, the details and/or existence of any unfulfilled repurchase request, any informal
meetings, mediations or arbitration proceedings conducted under this Section 8.09, including all offers, promises, conduct
and statements, whether oral or written, made in the course of the parties’ attempt to informally resolve an unfulfilled
repurchase request, and any discovery taken in connection with any arbitration, will be confidential, privileged and inadmissible
for any purpose, including impeachment, in any mediation, arbitration or litigation, or other proceeding (including any proceeding
under this Section 8.09). Such information will be kept strictly confidential and will not be disclosed or discussed with
any third party (excluding a party’s attorneys, experts, accountants and other agents and representatives, as reasonably
required in connection with any resolution procedure under this Section 8.09), except as otherwise publicly available as
required by law, regulatory requirement or court order. If any party to a resolution procedure receives a subpoena or other request
for information from a third party (other than a governmental regulatory body) for such confidential information, the recipient
will promptly notify the other party to the resolution procedure and will provide the other party with the opportunity to object
to the production of its confidential information.

    	 	40	 

     

    

(d)              
A Requesting Party may not initiate a mediation or arbitration as described above with respect to a Receivable that is,
or has been, the subject of an ongoing or previous mediation or arbitration (whether by that Requesting Party or another Requesting
Party) but will have the right to join an existing mediation or arbitration with respect to that receivable if the mediation or
arbitration has not yet concluded.

(e)               
For the avoidance of doubt, to the fullest extent permitted by applicable law, no Series 2017-1 Noteholder will have any
right to cause the Indenture Trustee to be a Requesting Party under this Section 8.09, unless such Series 2017-1 Noteholder
has offered to the Indenture Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities to be
incurred in compliance with such request.

Section 8.10.       
Investor Communication. Following receipt of a written request during any Monthly Period from a Series 2017-1 Noteholder
seeking to communicate with other Noteholders regarding exercising their contractual rights under the terms of the Transaction
Documents, the Issuer shall include or shall cause the Transferor to include, in its Securities Exchange Act Form 10-D filing related
to the Monthly Period in which such written request was received: (i) the name of the Series 2017-1 Noteholder delivering such
request, (ii) the date the request was received, (iii) a statement to the effect that the Issuer has in fact received such request
from a Series 2017-1 Noteholder and that such Series 2017-1 Noteholder is interested in communicating with other Noteholders with
regard to the possible exercise of rights under the Transaction Documents, and (iv) a description of the method that other Noteholders
may use to contact the requesting Series 2017-1 Noteholder. Prior, however, to including the items set forth in clauses (i)-(iv)
above in a Securities Exchange Act Form 10-D filing, the Issuer shall have the right to request from the Series 2017-1 Noteholder
delivering the written request verification that such Series 2017-1 Noteholder is in fact a Holder of a beneficial interest in
a Series 2017-1 Note. Such verification may be in the form of (x) a written certification from such Series 2017-1 Noteholder that
it is a Holder of beneficial interest in a Series 2017-1 Note, and (y) one other form of documentation such as a trade confirmation,
an account statement, a letter from the broker or dealer, or other similar document. The Transferor will be responsible for any
expenses in connection with the filing of its Securities and Exchange Act Form 10-D.

Section 8.11.       
Tax Retained Notes.

(a)               
Notwithstanding anything to the contrary in this Indenture Supplement, no interest in any Tax Retained Notes may be directly
or indirectly sold, transferred, assigned, exchanged, participated or otherwise conveyed, pledged, hypothecated or rehypothecated
or made the subject of a security interest (each such transaction for purposes of this Section 8.11, a “Transfer”)
unless prior to and in connection with such Transfer either (i) an Issuer Tax Opinion is delivered to the Indenture Trustee with
respect to such Transfer (excluding any Tax Retained Notes from such Issuer Tax Opinion to the extent they are otherwise included
in the definition of Issuer Tax Opinion in the Indenture) or (ii) an Opinion of Counsel is delivered to the Indenture Trustee to
the effect that such Notes will be debt for United States federal income tax purposes.

(b)              
With respect to any Transfer for which no Opinion of Counsel is provided pursuant to sub-clause (ii) of the preceding clause
(a), the transfer of such Notes must be to a Person who is a “United States person” for United Stated federal income
tax purposes unless

    	 	41	 

     

    

otherwise provided in a written opinion
of nationally recognized tax counsel. If there are other Notes of the same Class as such transferred Notes which are not Tax Retained
Notes prior to such transfer, such transfer will not be effective unless (i) the Tax Retained Notes are part of the same issue
(as described in United States Treasury Regulation section 1.1275-2(k)) as the other Notes from the same Class, (ii) neither the
Tax Retained Notes nor such other Notes from the same Class will be treated as issued with original issue discount for United States
federal income tax purposes or (iii) the Tax Retained Notes and such other Notes from the same Class can be tracked in a manner
that will allow each holder of any such Note to identify the information described in United States Treasury Regulation section
1.1275-3(b)(1)(i) with respect to each such Note.

(c)               
Any Transfer in violation of these requirements shall be null and void ab initio .

Section 8.12.       
Regulation RR. The Transferor shall maintain, as of each Transferor Amount Measurement Date, a seller’s interest
in the Issuer (in the form of the Transferor’s Interest) calculated in accordance with Regulation RR that will equal not
less than five percent of the aggregate unpaid principal balance of all Series of Notes, other than any Notes that are at all times
held by BBD or one or more wholly-owned affiliates of BBD. The Transferor may not sell or otherwise transfer any interest or assets
that it is required to hold pursuant to Regulation RR unless such sale or transfer is to a wholly-owned affiliate of BBD. For purposes
of this section, a wholly-owned affiliate of BBD will include any person, other than the Issuer, that directly or indirectly, wholly
controls (i.e., owns 100% of the equity in such person), is wholly controlled by, or is wholly under common control with, BBD.
As of the date hereof, the Transferor has a seller’s interest equal to $3,295,138,154, which equals 82.38% of the adjusted
outstanding ABS investor interests. For purposes of determining the seller’s interest, the Transferor used the aggregate
principal balance of the Receivables held by the Issuer as of May 1, 2017 and the Stated Principal Amount of all Outstanding Series
of Notes as of the date hereof.

[END OF ARTICLE VIII]

Article
IX

INSOLVENCY PROCEEDING WITH RESPECT TO BBD

Section 9.01.       
Actions Upon Repudiation.

(a)               
In the event that BBD becomes the subject of an insolvency proceeding and the FDIC as receiver or conservator for BBD exercises
its right of repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule, the Servicer shall determine whether the FDIC
in such capacity will pay damages in cash as provided in such paragraph (d)(4)(ii). Upon making such determination, the Servicer
shall promptly, and in any event no more than one Business Day thereafter, so notify the Indenture Trustee.

(b)              
Upon receipt of the notice specified in Section 9.01(a), the Indenture Trustee shall determine the date (the “Applicable
Distribution Date”) for making a distribution to the Series 2017-1 Noteholders of such damages, which date shall be the
earlier of (i) the next

    	 	42	 

     

    

Payment Date on which such damages could
be distributed and (ii) the earliest practicable date by which the Indenture Trustee could declare a special distribution date,
in each case subject to all applicable provisions of the Indenture, applicable law and the procedures of any applicable clearing
agency. The Indenture Trustee is authorized and instructed to retain possession and control of the Accumulation Reserve Account
and the Collection Account and all amounts on deposit therein.

(c)               
When the Applicable Distribution Date is determined, the Servicer, shall promptly compute the amount of interest to be paid
on each Class of Notes on the Applicable Distribution Date, which interest (unless such Applicable Distribution Date is a Payment
Date) shall be the amount accruing up to the Applicable Distribution Date and which shall be computed by pro rating the amount
that would otherwise be payable on the next succeeding Payment Date on the basis of (i) the number of days elapsed from such preceding
Payment Date divided by (ii) thirty (30). The Servicer shall notify the Indenture Trustee of the applicable amounts of principal
and interest to be paid on each Class of Notes not later than the Business Day following the day on which the Applicable Distribution
Date is determined.

(d)              
If the Applicable Distribution Date is a special distribution date, the Indenture Trustee shall (i) declare such special
distribution date (the record date for which shall be the close of business on the day immediately preceding such special distribution
date), (ii) declare a special distribution to the Series 2017-1 Noteholders consisting of unpaid interest on each Series 2017-1
Note and the outstanding principal balance of each Series 2017-1 Note and (iii) deliver notice to the Series 2017-1 Noteholders
of such special distribution date and special distribution.

(e)               
Following payment by the FDIC of such damages:

(i)                 
Such damages shall be deposited into the Principal Funding Account;

(ii)               
The Servicer shall promptly, and no later than one Business Day after such damages have been paid by the FDIC, (A) compute
the amount, if any, required to be withdrawn from available funds in the Accumulation Reserve Account (and, if necessary, the Collection
Account) and transferred to the Principal Funding Account so that the amount on deposit in the Principal Funding Account shall
equal the aggregate amount to be distributed as specified in Section 9.01(c), and (B) promptly inform the Indenture Trustee
of such computation; and

(iii)              
On the Applicable Distribution Date, the Indenture Trustee shall, based on the computations in Section 9.01(c), first,
withdraw from monies on deposit in the Accumulation Reserve Account and, if necessary, the Collection Account the amount so computed
and cause such amount to be deposited into the Principal Funding Account and, second, cause all amounts deposited into the
Principal Funding Account pursuant to this Section 9.01 to be applied in accordance with Section 7.06 of the Indenture and
amounts available for application pursuant to clause (b) of Section 7.06 of the Indenture shall be allocated and paid as provided
in Section 4.14(e).

    	 	43	 

     

    

(f)                
Any funds remaining in the Collection Account and the Accumulation Reserve Account shall be distributed on the following
Payment Date (or on such Applicable Distribution Date, if it is not a Payment Date), such distributions to be made in accordance
with the applicable provisions of the Transaction Documents, with the Servicer to adjust the amounts of such distributions in its
records to take into account the amounts distributed on the Applicable Distribution Date.

Section 9.02.       
Notice.

(a)               
In the event that BBD becomes the subject of an insolvency proceeding and the FDIC as receiver or conservator provides a
written notice of repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule, the party receiving such notice shall promptly
deliver such notice to each of the Servicer, the Transferor, the Trust and the Indenture Trustee.

(b)              
If the FDIC (i) is appointed as a conservator or receiver of BBD and (ii) is in monetary default hereunder or under the
other Transaction Documents, the Indenture Trustee shall, at the direction of the Majority Holders of all Outstanding Notes, the
Servicer or a Series 2017-1 Noteholder, be entitled to deliver written notice to the FDIC requesting the exercise of contractual
rights hereunder and under the other Transaction Documents.

Section 9.03.       
Reservation of Rights. Neither the inclusion of this Article IX in this Indenture Supplement nor the compliance
by any Person with, or the acknowledgement by any Person of, this Article’s provisions constitutes an agreement or acknowledgment
by any Person that, in the case of an insolvency proceeding with respect to BBD, a receiver or conservator will have any rights
with respect to the Trust Assets.

[END OF ARTICLE IX]

    	 	44	 

     

    

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

	 	BARCLAYS DRYROCK ISSUANCE TRUST,

as Issuer
	 	 	 
	 	By:	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee on behalf of the Trust
	 	 	 
	 	By: 	/s/ Rachel Simpson                      

s
	 	 	
        Name: Rachel Simpson

        Title: Vice President

         

         

	 	U.S. BANK NATIONAL ASSOCIATION, as Indenture Trustee and not in its individual capacity
	 	 	 
	 	By: 	/s/ Tammy Schultz-Fugh                
	 	 	Name:  Tamara Schultz-Fugh

Title: Vice President
	 	
         

         

        U.S. BANK NATIONAL ASSOCIATION, as Securities Intermediary
        and not in its individual capacity

	 	 	 
	 	By: 	/s/ Tammy Schultz-Fugh                
	 	 	Name:  Tamara Schultz-Fugh

Title: Vice President

 

 

 

[Signature Page to Indenture Supplement]

 

    	 

    	 

    

 

	ACKNOWLEDGED AND AGREED TO BY:
	 	 
	
        BARCLAYS BANK DELAWARE,

        for itself, as Servicer and as a Repurchase Party

	 	 
	By: 	/s/ M. Yasser Rezvi                 
	 	
        Name: M. Yasser Rezvi

        Title: Treasurer

         

         

	
        BARCLAYS DRYROCK FUNDING LLC,

        as Transferor and as a Repurchase Party,

	 	 
	By: 	/s/ Lawrence Drexler                
	 	
        Name: Lawrence Drexler

        Title: VP & Secretary

 

 

 

[Signature Page to Indenture Supplement]

 

    	 

    	 

    

EXHIBIT
A-1

FORM OF

CLASS A SERIES 2017-1 FLOATING RATE ASSET BACKED NOTE

UNLESS THIS NOTE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE
ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) – ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THE HOLDER OF THIS
CLASS A NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE ISSUER OR THE TRANSFEROR,
OR JOIN IN INSTITUTING AGAINST THE ISSUER OR THE TRANSFEROR, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION
PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW.

THE HOLDER OF THIS
CLASS A NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS A NOTES AS
INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER
TAX IMPOSED ON, OR MEASURED BY, INCOME.

BY ITS ACQUISITION
OF THIS CLASS A NOTE (OR ANY INTEREST THEREIN), EACH HOLDER SHALL BE DEEMED TO REPRESENT, WARRANT AND COVENANT (ON THE DATE OF
ACQUISITION OF THIS CLASS A NOTE (OR ANY INTEREST HEREIN) AND THROUGHOUT THE PERIOD OF HOLDING THIS CLASS A NOTE (OR ANY INTEREST
HEREIN) THAT EITHER (I) IT IS NOT ACQUIRING THIS CLASS A NOTE (OR INTEREST HEREIN) WITH THE ASSETS OF AN “EMPLOYEE BENEFIT
PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)
THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (II) A “PLAN” DESCRIBED IN AND SUBJECT TO SECTION 4975 OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR (III) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN
ASSETS” BY REASON OF AN EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY OR A GOVERNMENTAL, NON-U.S.
OR CHURCH PLAN THAT IS SUBJECT TO STATE, LOCAL OR OTHER LAWS THAT IS SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975 OF THE INTERNAL
REVENUE CODE (“SIMILAR LAW”); OR (II)(A) THIS CLASS A NOTE IS RATED AT LEAST INVESTMENT GRADE OR ITS EQUIVALENT BY
A NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION AT THE TIME OF PURCHASE OF TRANSFER, AND (B) THE

    	 	A-1-1	 

     

    

ACQUISITION, HOLDING AND DISPOSITION
OF THIS CLASS A NOTE WILL NOT GIVE RISE TO A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE
INTERNAL REVENUE CODE OR A VIOLATION OF SIMILAR LAW. NO CLASS A NOTE HOLDER WILL BE PERMITTED TO TRANSFER THIS CLASS A NOTE TO
ANY PERSON OR ENTITY, UNLESS SUCH PERSON OR ENTITY CAN ITSELF TRUTHFULLY MAKE THE FOREGOING REPRESENTATIONS AND COVENANTS AS PRESENTED
IN THIS PARAGRAPH.

    	 	A-1-2	 

     

    

 

	 	INITIAL DOLLAR PRINCIPAL AMOUNT
	REGISTERED	$750,000,0001
	No. R-1	CUSIP NO. 06742L AN3

 

BARCLAYS DRYROCK ISSUANCE TRUST

CLASS A SERIES 2017-1 FLOATING RATE ASSET
BACKED NOTE

Barclays Dryrock
Issuance Trust (herein referred to as the “Issuer” or the “Trust”), a Delaware statutory
trust governed by the Second Amended and Restated Trust Agreement, dated as of August 1, 2012, as amended and restated as of December
17, 2013 and as amended by the first amendment thereto, dated as of July 6, 2015, for value received, hereby promises to pay to
CEDE & CO., or registered assigns, subject to the following provisions, a principal sum of $750,000,000 payable on the May
2020 Payment Date (the “Expected Final Payment Date”) in accordance with the Indenture, except as otherwise
provided below; provided, however, that the principal amount of this Note shall be due and payable on the March 2023 Payment
Date (the “Legal Maturity Date”) in accordance with the Indenture. The Issuer will pay interest on the unpaid
principal amount of this Note at the Class A Note Interest Rate on each Payment Date until the principal amount of this Note is
paid in full. Interest on this Note will accrue for each Payment Date from and including the most recent Payment Date on which
interest has been paid to but excluding such Payment Date or, for the initial Payment Date, from and including the Closing Date
to but excluding such Payment Date. Interest will be computed on the basis of a 360-day year and the actual number of days elapsed
in each interest period. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.

The principal of
and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first
to interest due and payable on this Note as provided above and then to the unpaid principal balance of this Note.

Reference is made
to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth
on the face of this Note.

Unless the certificate
of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this Note shall not be
entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any
purpose.

1
Denominations of $100,000 and increments of $1,000 in excess thereof.

 

    	 	A-1-3	 

     

    

IN WITNESS WHEREOF,
the Issuer has caused this Class A Note to be duly executed.

 

		BARCLAYS DRYROCK ISSUANCE TRUST,

as Issuer
	 	 	 
	 	By:	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee under
    the Trust Agreement
	 	 	 
	 	By: 	__________________________________
	 	 	
        Name:

        Title:

         

         

 

Dated: May 23, 2017

    	 	A-1-4	 

     

    

INDENTURE TRUSTEE’S CERTIFICATE
OF AUTHENTICATION

This is one of the Class A Notes described
in the within-mentioned Indenture.

 

		U.S. BANK NATIONAL ASSOCIATION,

as Indenture Trustee

	 	 	 
	 	By: 	__________________________________
	 	 	
        Authorized Signatory 

         

 

Dated: May 23, 2017

    	 	A-1-5	 

     

    

BARCLAYS DRYROCK ISSUANCE TRUST

CLASS A SERIES 2017-1 FLOATING RATE ASSET
BACKED NOTE

[Reverse of Class A Note]

This Class A Note
is one of a duly authorized issue of Notes of the Issuer, designated as its Barclays Dryrock Issuance Trust, Series 2017-1 (the
“Series 2017-1 Notes”), issued under an Amended and Restated Indenture, dated as of August 1, 2012, as amended
and restated as of December 17, 2013 and as amended by the first amendment thereto, dated as of July 6, 2015 (the “Indenture”),
between the Issuer and U.S. Bank National Association, as indenture trustee (the “Indenture Trustee,” which
term includes any successor Indenture Trustee under the Indenture), as supplemented by the Series 2017-1 Indenture Supplement,
dated as of May 23, 2017 (the “Indenture Supplement”), and representing the right to receive certain payments
from the Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Indenture as supplemented
by the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note that are defined
in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented
or amended. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control.

The Series 2017-1
Notes also include the Class B Notes issued under the Indenture simultaneously with the Class A Notes.

The Noteholder, by
its acceptance of this Note, agrees that it will look solely to the property of the Trust allocated to the payment of this Note
in accordance with the Indenture for payment hereunder and that the Indenture Trustee is not liable to the Noteholders for any
amount payable under this Note or the Indenture or, except as expressly provided in the Indenture, subject to any liability under
the Indenture.

This Note does not
purport to summarize the Indenture and reference is made to the Indenture for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee.

The Expected Final
Payment Date is the May 2020 Payment Date, but principal with respect to the Class A Notes may be paid earlier or later under certain
circumstances described in the Indenture. If for one or more months during the Controlled Accumulation Period there are not sufficient
funds to deposit the Controlled Deposit Amount into the Principal Funding Account, then to the extent that excess funds are not
available on subsequent Payment Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final
payment of principal of the Notes will occur later than the Expected Final Payment Date. Payments of principal of the Notes shall
be payable in accordance with the provisions of the Indenture.

Subject to the terms
and conditions of the Indenture, the Transferor may, from time to time, direct the Owner Trustee, on behalf of the Trust, to issue
one or more new Series of notes or additional notes of any Series.

    	 	A-1-6	 

     

    

On each Payment Date,
the Paying Agent shall distribute to each Class A Noteholder of record on the related Record Date (except for the final distribution
in respect of this Class A Note) such Class A Noteholder’s pro rata share of the amounts held by the Paying Agent
that are allocated and available on such Payment Date to pay interest and principal on the Class A Notes pursuant to the Indenture
Supplement. Except as provided in the Indenture with respect to a final distribution, distributions to Series 2017-1 Noteholders
shall be made (i) by check mailed to each Series 2017-1 Noteholder (at such Noteholder’s address as it appears in the Note
Register), except that with respect to any Series 2017-1 Notes registered in the name of the nominee of a clearing agency, such
distribution shall be made in immediately available funds and with respect to the Class B Notes if the Noteholder has provided
written wire transfer instructions to the Indenture Trustee as provided in the Indenture, then such distribution shall be made
in immediately available funds and (ii) without presentation or surrender of any Series 2017-1 Note or the making of any notation
thereon. Final payment of this Class A Note will be made only upon presentation and surrender of this Class A Note at the office
or agency specified in the notice of final distribution delivered by the Indenture Trustee to the Series 2017-1 Noteholders in
accordance with the Indenture.

On any day occurring
on or after the date on which the Outstanding Dollar Principal Amount of the Series 2017-1 Notes is reduced to less than 10% of
its highest Outstanding Dollar Principal Amount at any time, the Trust shall have the right, but not the obligation to, redeem
the Series 2017-1 Notes at a redemption price equal to 100% of the Outstanding Dollar Principal Amount of the Series 2017-1 Notes,
plus accrued, unpaid and additional interest or principal accreted and unpaid on such Notes to but excluding the date of redemption;
provided, however, that in no event shall an optional redemption occur if 25% or more of the Initial Dollar Principal
Amount of the Series 2017-1 Notes is still outstanding.

This Class A Note
does not represent an obligation of, or an interest in, the Transferor, Barclays Bank Delaware, or any Affiliate of any of them
and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality.

Each Noteholder,
by accepting a Note, hereby covenants and agrees that it will not at any time institute against the Issuer or the Transferor, or
join in instituting against the Issuer or the Transferor, any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings, or other proceedings under any United States federal or state bankruptcy or similar law.

Except as otherwise
provided in the Indenture Supplement, the Class A Notes are issuable only in minimum denominations of $100,000 and $1,000 increments
in excess thereof. The transfer of this Class A Note shall be registered in the Note Register upon surrender of this Class A Note
for registration of transfer at the office or agency of the Issuer in a Place of Payment, accompanied by a written instrument of
transfer, in a form satisfactory to the Issuer and the Note Registrar, duly executed by the Class A Noteholder or such Class A
Noteholder’s attorney, and duly authorized in writing with such signature guaranteed, and thereupon one or more new Class
A Notes in any authorized denominations of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity
Date and of like terms will be issued to the designated transferee or transferees.

    	 	A-1-7	 

     

    

As provided in the
Indenture and subject to certain limitations therein set forth, Class A Notes are exchangeable for new Class A Notes in any authorized
denominations and of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity Date and of like terms
upon surrender of such Notes to be exchanged at the office or agency of the Issuer in a Place of Payment. No service charge may
be imposed for any such exchange but the Issuer may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection therewith.

The Issuer, the Transferor,
the Indenture Trustee and any agent of the Issuer, the Transferor or the Indenture Trustee shall treat the person in whose name
this Class A Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee
nor any agent of the Issuer, the Transferor or the Indenture Trustee shall be affected by notice to the contrary.

THIS CLASS A NOTE
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL
OBLIGATION LAW, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

    	 	A-1-8	 

     

    

ASSIGNMENT

Social Security or other identifying
number of assignee _________________________________

FOR VALUE RECEIVED,
the undersigned hereby sells, assigns and transfers unto ______________________________

(name and address of assignee)

the within certificate and all rights
thereunder, and hereby irrevocably constitutes and appoints ____________________, attorney, to transfer said certificate on the
books kept for registration thereof, with full power of substitution in the premises.

	Dated:
    ____________	______________________
	 	 
	 	Signature Guaranteed:
	 	 
	 	______________________

 

    	 	A-1-9	 

     

    

EXHIBIT
A-2

FORM OF

CLASS B SERIES 2017-1 FIXED RATE ASSET BACKED NOTE

THIS CLASS B NOTE
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS CLASS
B NOTE NOR ANY PORTION HEREOF MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE REGISTRATION
PROVISIONS OF THE SECURITIES ACT AND ANY APPLICABLE PROVISIONS OF ANY STATE BLUE SKY OR SECURITIES LAWS OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM SUCH REGISTRATION PROVISIONS. THE TRANSFER OF THIS CLASS B NOTE IS SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE
INDENTURE REFERRED TO HEREIN.

THE HOLDER OF THIS
NOTE BY ITS ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE ISSUER OR THE TRANSFEROR,
OR JOIN IN INSTITUTING AGAINST THE ISSUER OR THE TRANSFEROR, ANY BANKRUPTCY, REORGANIZATION, ARRANGEMENT, INSOLVENCY OR LIQUIDATION
PROCEEDINGS, OR OTHER PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR SIMILAR LAW.

THE HOLDER OF THIS
CLASS B NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE CLASS B NOTES AS
INDEBTEDNESS OF THE ISSUER FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER
TAX IMPOSED ON, OR MEASURED BY, INCOME AT ANY TIME DURING WHICH THE CLASS B NOTES ARE DEEMED TO BE ISSUED AND OUTSTANDING FOR SUCH
PURPOSES.

THIS CLASS B NOTE
(OR ANY INTEREST HEREIN) MAY NOT BE PURCHASED WITH THE ASSETS OF (I) AN “EMPLOYEE BENEFIT PLAN” AS DEFINED IN SECTION
3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), THAT IS SUBJECT TO THE PROVISIONS
OF TITLE I OF ERISA, (II) A “PLAN” DESCRIBED IN AND SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED (THE “CODE”), OR (III) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF AN
EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY. IF PURCHASER IS (OR IS ACTING ON BEHALF OF) A GOVERNMENTAL,
NON-U.S. OR CHURCH PLAN THAT IS SUBJECT TO ANY STATE, LOCAL OR OTHER LAW THAT IS SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975
OF THE CODE (“SIMILAR LAW”), THE ACQUISITION, HOLDING AND DISPOSITION WILL NOT RESULT IN A VIOLATION OF SIMILAR LAW.
NO CLASS B NOTE HOLDER WILL BE PERMITTED TO TRANSFER THE CLASS B NOTES TO ANY PERSON OR ENTITY, UNLESS SUCH PERSON OR ENTITY CAN
ITSELF TRUTHFULLY MAKE THE FOREGOING REPRESENTATIONS AND COVENANTS AS PRESENTED IN THIS PARAGRAPH AND NO TRANSFER OF

    	 	A-2-1	 

     

    

ANY INTEREST IN CLASS B NOTES MAY OCCUR
EXCEPT IN COMPLIANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INDENTURE SUPPLEMENT.

    	 	A-2-2	 

     

    

 

	 	INITIAL DOLLAR PRINCIPAL AMOUNT
	REGISTERED	$199,368,000 
	No. R-1	 

 

BARCLAYS DRYROCK ISSUANCE TRUST

CLASS B SERIES 2017-1 FIXED RATE ASSET
BACKED NOTE

Barclays Dryrock
Issuance Trust (herein referred to as the “Issuer” or the “Trust”), a Delaware statutory
trust governed by the Second Amended and Restated Trust Agreement, dated as of August 1, 2012, as amended and restated as of December
17, 2013 and as amended by the first amendment thereto, dated as of July 6, 2015, for value received, hereby promises to pay to
Barclays Dryrock Funding LLC, subject to the following provisions, the principal sum of $199,368,000 payable on the May 2020 Payment
Date (the “Expected Final Payment Date”) in accordance with the Indenture, except as otherwise provided below;
provided, however, that the amount of this Note shall be due and payable on the March 2023 Payment Date (the “Legal
Maturity Date”) in accordance with the Indenture. The Issuer will pay interest on the unpaid principal amount of this
Note at the Class B Note Interest Rate on each Payment Date until the principal amount of this Note is paid in full. Interest on
this Note will accrue for each Payment Date from and including the most recent Payment Date on which interest has been paid to
but excluding such Payment Date or, for the initial Payment Date, from and including the Closing Date to but excluding such Payment
Date. Interest will be computed on the basis of a 360-day year consisting of twelve 30 day months. Such principal of and interest
on this Note shall be paid in the manner specified on the reverse hereof.

The principal of
and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first
to interest due and payable on this Note as provided above and then to the unpaid principal balance of this Note.

Reference is made
to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth
on the face of this Note.

Unless the certificate
of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this Note shall not be
entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse hereof, or be valid for any
purpose.

THIS CLASS B NOTE
IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS ON THE CLASS A NOTES TO THE EXTENT SPECIFIED IN THE INDENTURE SUPPLEMENT.

    	 	A-2-3	 

     

    

IN WITNESS WHEREOF,
the Issuer has caused this Class B Note to be duly executed.

 

		BARCLAYS DRYROCK ISSUANCE TRUST,

as Issuer
	 	 	 
	 	By:	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee under
    the Trust Agreement
	 	 	 
	 	By: 	__________________________________
	 	 	
        Name:

        Title:

         

         

 

 

Dated: May 23, 2017

    	 	A-2-4	 

     

    

INDENTURE TRUSTEE’S CERTIFICATE
OF AUTHENTICATION

This is one of the Class B Notes described
in the within-mentioned Indenture.

		U.S. BANK NATIONAL ASSOCIATION,

as Indenture Trustee

	 	 	 
	 	By: 	__________________________________
	 	 	
        Authorized Signatory 

         

 

Dated: May 23, 2017

    	 	A-2-5	 

     

    

BARCLAYS DRYROCK ISSUANCE TRUST

CLASS B SERIES 2017-1 FIXED RATE ASSET
BACKED NOTE

[Reverse of Class B Note]

This Class B Note
is one of a duly authorized issue of Notes of the Issuer, designated as its Barclays Dryrock Issuance Trust, Series 2017-1 (the
“Series 2017-1 Notes”), issued under an Amended and Restated Indenture, dated as of August 1, 2012, as amended
and restated as of December 17, 2013 and as amended by the first amendment thereto, dated as of July 6, 2015 (the, “Indenture”),
between the Issuer and U.S. Bank National Association, as indenture trustee (the “Indenture Trustee,” which
term includes any successor Indenture Trustee under the Indenture), as supplemented by the Series 2017-1 Indenture Supplement dated
as of May 23, 2017 (the “Indenture Supplement”), and representing the right to receive certain payments from
the Issuer. The term “Indenture,” unless the context otherwise requires, refers to the Indenture as supplemented by
the Indenture Supplement. The Notes are subject to all of the terms of the Indenture. All terms used in this Note that are defined
in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented
or amended. In the event of any conflict or inconsistency between the Indenture and this Note, the Indenture shall control.

The Series 2017-1
Notes also include the Class A Notes issued under the Indenture simultaneously with the Class B Notes. The Class B Notes are subordinate
to the Class A Notes.

The Noteholder, by
its acceptance of this Note, agrees that it will look solely to the property of the Trust allocated to the payment of this Note
in accordance with the Indenture for payment hereunder and that the Indenture Trustee is not liable to the Noteholders for any
amount payable under the Note or the Indenture or, except as expressly provided in the Indenture, subject to any liability under
the Indenture.

This Note does not
purport to summarize the Indenture and reference is made to the Indenture for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture Trustee.

The Expected Final
Payment Date is the May 2020 Payment Date, but principal with respect to the Class B Notes may be paid earlier or later under certain
circumstances described in the Indenture. If for one or more months during the Controlled Accumulation Period there are not sufficient
funds to deposit the Controlled Deposit Amount into the Principal Funding Account, then to the extent that excess funds are not
available on subsequent Payment Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final
payment of principal of the Notes will occur later than the Expected Final Payment Date. Payments of principal of the Notes shall
be payable in accordance with the provisions of the Indenture.

Subject to the terms
and conditions of the Indenture, the Transferor may, from time to time, direct the Owner Trustee, on behalf of the Trust, to issue
one or more new Series of notes or additional notes of any Series.

    	 	A-2-6	 

     

    

On each Payment Date,
the Paying Agent shall distribute to each Class B Noteholder of record on the related Record Date (except for the final distribution
in respect of this Class B Note) such Class B Noteholder’s pro rata share of the amounts held by the Paying Agent
that are allocated and available on such Payment Date to pay interest and principal on the Class B Notes pursuant to the Indenture
Supplement. Except as provided in the Indenture with respect to a final distribution, distributions to Series 2017-1 Noteholders
shall be made by (i) check mailed to each Series 2017-1 Noteholder (at such Noteholder’s address as it appears in the Note
Register), except that with respect to any Series 2017-1 Notes registered in the name of the nominee of a clearing agency, such
distribution shall be made in immediately available funds and with respect to the Class B Notes if the Noteholder has provided
written wire transfer instructions to the Indenture Trustee as provided in the Indenture, then such distribution shall be made
in immediately available funds to the Class B Noteholder and (ii) without presentation or surrender of any Series 2017-1 Note or
the making of any notation thereon. Final payment of this Class B Note will be made only upon presentation and surrender of this
Class B Note at the office or agency specified in the notice of final distribution delivered by the Indenture Trustee to the Series
2017-1 Noteholders in accordance with the Indenture.

On any day occurring
on or after the date on which the Outstanding Dollar Principal Amount of the Series 2017-1 Notes is reduced to less than 10% of
its highest Outstanding Dollar Principal Amount at any time, the Trust shall have the right, but not the obligation to, redeem
the Series 2017-1 Notes at a redemption price equal to 100% of the Outstanding Dollar Principal Amount of the Series 2017-1 Notes,
plus accrued, unpaid and additional interest or principal accreted and unpaid on such Notes to but excluding the date of redemption;
provided, however, that in no event shall an optional redemption occur if 25% or more of the Initial Dollar Principal
Amount of the Series 2017-1 Notes is still outstanding.

This Class B Note
does not represent an obligation of, or an interest in, the Transferor, Barclays Bank Delaware or any Affiliate of any of them
and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality.

Each Noteholder,
by accepting a Note, hereby covenants and agrees that it will not at any time institute against the Issuer or the Transferor, or
join in instituting against the Issuer or the Transferor, any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings, or other proceedings under any United States federal or state bankruptcy or similar law.

Except as otherwise
provided in the Indenture Supplement, the Class B Notes are issuable only in minimum denominations of $100,000 and $1,000 increments
in excess thereof. The transfer of this Class B Note shall be registered in the Note Register upon surrender of this Class B Note
for registration of transfer at the office or agency of the Issuer in a Place of Payment, accompanied by a written instrument of
transfer, in a form satisfactory to the Issuer and the Note Registrar, duly executed by the Class B Noteholder or such Class B
Noteholder’s attorney, and duly authorized in writing with such signature guaranteed, and thereupon one or more new Class
B Notes in any authorized denominations of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity
Date and of like terms will be issued to the designated transferee or transferees.

    	 	A-2-7	 

     

    

As provided in the
Indenture and subject to certain limitations therein set forth, Class B Notes are exchangeable for new Class B Notes in any authorized
denominations and of like aggregate Stated Principal Amount, Expected Final Payment Date and Legal Maturity Date and of like terms
upon surrender of such Notes to be exchanged at the office or agency of the Issuer in a Place of Payment. No service charge may
be imposed for any such exchange but the Issuer may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection therewith.

The Issuer, the Transferor,
the Indenture Trustee and any agent of the Issuer, the Transferor or the Indenture Trustee shall treat the person in whose name
this Class B Note is registered as the owner hereof for all purposes, and neither the Issuer, the Transferor, the Indenture Trustee
nor any agent of the Issuer, the Transferor or the Indenture Trustee shall be affected by notice to the contrary.

THIS CLASS B NOTE
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL
OBLIGATION LAW, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

    	 	A-2-8	 

     

    

ASSIGNMENT

Social Security or other identifying
number of assignee _________________________________

FOR VALUE RECEIVED,
the undersigned hereby sells, assigns and transfers unto ______________________________

(name and address of assignee)

the within certificate and all
rights thereunder, and hereby irrevocably constitutes and appoints ____________________, attorney, to transfer said certificate
on the books kept for registration thereof, with full power of substitution in the premises.

	Dated:
    ____________	______________________
	 	 
	 	Signature Guaranteed:
	 	 
	 	______________________

 

    	 	A-2-9	 

     

    

EXHIBIT
B-1

FORM OF MONTHLY NOTEHOLDERS’ STATEMENT

BARCLAYS DRYROCK ISSUANCE TRUST

SERIES 2017-1

MONTHLY PERIOD ENDING [][]
20[]

Pursuant to (i) the
Amended and Restated Indenture, dated as of August 1, 2012, as amended and restated as of December 17, 2013 and as amended by the
first amendment thereto, dated as of July 6, 2015 (the “Indenture”), between Barclays Dryrock Issuance Trust
(the “Issuer” or the “Trust”), and U.S. Bank National Association, as indenture trustee (the
“Indenture Trustee”), as supplemented by the Indenture Supplement, dated as of May 23, 2017 (the “Indenture
Supplement”), between the Issuer and the Indenture Trustee, and (ii) the Amended and Restated Servicing Agreement, dated
as of August 1, 2012, as amended and restated as of December 17, 2013 (the “Servicing Agreement”), among Barclays
Dryrock Funding LLC, as transferor (the “Transferor”), Barclays Bank Delaware, as servicer and administrator
(“BBD” or the “Servicer”), the Issuer and the Indenture Trustee, BBD as Servicer is required
to prepare certain information each month regarding current payments to the Series 2017-1 Noteholders and the performance of the
Trust during the previous monthly period. The information prepared with respect to the Payment Date of [·][·]
20[·] is set forth below. Certain terms used in this Monthly Noteholders’ Statement
have their respective meanings set forth in the Indenture, the Indenture Supplement and the Servicing Agreement.

	A)	Information regarding payments in respect of the Class A Notes	$_____________
	 	(1)	The total amount of the payment in respect of the Class A Notes	$_____________
	 	 	 	 
	 	(2)	The amount of the payment set forth in line item (1) above in respect of Class A Monthly Interest	$_____________
	 	 	 	 
	 	(3)	The amount of the payment set forth in line item (1) above in respect of Class A Monthly Interest previously due but not distributed on a prior Payment Date	$_____________
	 	 	 	 
	 	(4)	The amount of the payment set forth in line item (1) above in respect of Class A Additional Interest and the amount of Class A Additional Interest previously due but not distributed on a prior Payment Date	$_____________
	 	 	 	 
	 	(5)	The amount of the payment set forth in line item (1) above in respect of principal of the Class A Notes	$_____________
	 	 	 	 
	B)	Information regarding payments in respect of the Class B Notes	$_____________
	 	 	 
	 	(1)	The total amount of the payment in respect of the Class B Notes	$_____________

 

    	 	B-1-1	 

     

    

 

 

	 	(2)	The amount of the payment set forth in line item (1) above in respect of Class B Monthly Interest	$_____________
	 	 	 	 
	 	(3)	The amount of the payment set forth in line item (1) above in respect of Class B Additional Interest and the amount of Class B Additional Interest previously due but not distributed on a prior Payment Date	$_____________
	 	 	 	 
	 	(4)	The amount of the payment set forth in line item (1) above in respect of Class B Additional Interest and the amount of Class B Additional Interest previously due but not distributed on a prior Payment Date	$_____________
	 	 	 	 
	 	(5)	The amount of the payment set forth in line item (1) above in respect of principal of the Class B Notes	$_____________

 

		BARCLAYS BANK DELAWARE, as Servicer
	 	 	 
	 	By: 	__________________________________
	 	 	
        Name:

Title:

         

 

 

    	 	B-1-2	 

     

    

FORM OF MONTHLY SERVICER STATEMENT

BARCLAYS DRYROCK ISSUANCE TRUST SERIES
2017-1

MONTHLY PERIOD ENDING [●] [●]
20[●]

 

	Record date	[●][●], 20[●]
	Payment date	[●][●], 20[●]
	Monthly period beginning	[●][●], 20[●]
	Monthly period ending	[●][●], 20[●]
	Previous payment date	[●][●], 20[●]
	Interest period beginning	[●][●], 20[●]
	Interest period ending	[●][●], 20[●]
	Days in monthly period	[●]
	Days in interest period	[●]

 

	TRUST RECEIVABLES INFORMATION	 
	Beginning of monthly period principal receivables balance	$[●]
	Beginning of monthly period non-principal receivables balance	$[●]
	Beginning of monthly period total receivables balance	$[●]
	Addition of principal receivables balance	$[●]
	Addition of non-principal receivables balance	$[●]
	Removal of principal receivables balance	$[●]
	Removal of non-principal receivables balance	$[●]
	End of monthly period principal receivables balance	$[●]
	End of monthly period non-principal receivables balance	$[●]
	End of monthly period total receivables balance	$[●]

 

	TRUST COLLECTIONS INFORMATION	 
	Finance charge collections	$[●]
	Fees	$[●]
	Recoveries	$[●]
	Investment earnings on Issuer Accounts	$[●]
	Total finance charge collections	$[●]
	Principal collections	$[●]
	*Total payment rate	[●]%
	 	 
	(*Total payment rate does not include investment earnings)	 

 

	TRUST DEFAULT INFORMATION
	Default amount	 	$[●]
	Gross loss rate	 	[●]%
	Delinquency Data	Percentage	Total receivables
	1-30 days delinquent	[●]%	$[●]

    	 	B-1-3	 

     

    

 

 

	31-60 days delinquent	[●]%	$[●]
	61-90 days delinquent	[●]%	$[●]
	91-120 days delinquent	[●]%	$[●]
	121-150 days delinquent	[●]%	$[●]
	151-180 days delinquent	[●]%	$[●]
	181 and greater days delinquent	[●]%	$[●]
	Sixty Day Delinquent Assets	[●]%	$[●]

 

	TRANSFEROR INFORMATION	 
	Transferor Percentage as of the Transferor Amount Measurement Date	[●]%
	Minimum Transferor Amount Percentage in Calendar Month	[●]%
	Required Transferor Amount Percentage	[●]%

 

	SELLERS INTEREST	 
	Seller’s Interest as of the Transferor Amount Measurement Date	[●]%
	Required Seller’s Interest	[●]%

 

	ISSUER ACCOUNT INFORMATION	 
	Barclays Dryrock Issuance Trust Collection Account balance as of the end of monthly period	$[●]
	Barclays Dryrock Issuance Trust Excess Funding Account balance as of end of monthly period	$[●]

 

	BARCLAYS DRYROCK ISSUANCE TRUST
	Series Name	2017-1
	Expected Final Payment Date	[__][__], 20[__]
	Scheduled start of accumulation period	[__][__], 20[__]
	Series 2017-1 Stated Principal Amount	$[●]
	Series 2017-1 Allocation Amount	$[●]
	Series 2017-1 Floating Allocation Percentage	[●]%
	Series 2017-1 Principal Allocation Percentage	[●]%
	Current period USD LIBOR	[●]%

 

	Class Details	Margin	Total Interest Rate	Stated Principal Amount
	Class A	[●]%	[●]%	$[●]
	Class B	[●]%	[●]%	$[●]

 

	ALLOCATION OF SERIES 2017-1 AVAILABLE FINANCE CHARGE COLLECTIONS
	1)  Series 2017-1 Available Finance Charge Collections	$[●]
	2)  Class A Notes	 
	a)  Class A Monthly Interest	$[●]
	b)  Class A Monthly Interest previously due but not paid	$[●]
	c)  Class A Additional Interest and Class A Additional Interest previously due but not paid	$[●]
	3)  Series 2017-1 Servicing Fee paid to Servicer	$[●]

    	 	B-1-4	 

     

    

 

 

	4)  Series 2017-1 Servicing Fee, previously due but not paid	$[●]
	5)  Class B Notes	 
	a)  Class B Monthly Interest	$[●]
	b)  Class B Monthly Interest previously due but not paid	$[●]
	c)  Class B Additional Interest and Class B Additional Interest previously due but not paid	$[●]
	6)  Series 2017-1 Default Amount treated as Series 2017-1 Available Principal Collections	$[●]
	7)  Unreimbursed Investor Charge-offs and Reallocated Principal Collections treated as Series 2017-1 Available principal Collections	$[●]
	8)  Accumulation Reserve Account funding	$[●]
	9)  In the event of default and acceleration, the Outstanding Dollar Principal Amount of the notes treated as Series 2017-1 Available Principal Collections	$[●]
	10)  Shared Excess Available Finance Charge Collections available for allocation to other series in Shared Excess Available Finance Charge Collections (Group 1)	$[●]
	11)  Amount due under any other obligations of Barclays Dryrock Issuance Trust under the Transaction Documents	$[●]
	12)  Holder of the Transferor Interest	$[●]

 

	APPLICATION OF SHARED EXCESS AVAILABLE FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES 2017-1
	1)  Shared Excess Available Finance Charge Collections allocated to Series 2017-1	$[●]
	2)  Series 2017-1 Available Finance Charge Collections Shortfall	$[●]
	3)  Class A Monthly Interest and Class A Additional Interest and any past due amounts	$[●]
	4)  Unpaid Servicing Fee	$[●]
	5)  Class B Monthly Interest and Class B Additional Interest and any past due amounts	$[●]
	6)  Default Amount treated as Available Principal Collections	$[●]
	7)  Unreimbursed Investor charge-offs and Reallocated Principal Collections treated as Series 2017-1 Available Principal Collections	$[●]
	8)  Accumulation Reserve Account	$[●]
	9)  Holder of the Transferor Interest	$[●]

 

	APPLICATION OF SERIES 2017-1 AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING PERIOD
	1)  Shared Excess Available Principal Collections available for allocation to other series in Shared Excess Available Principal Collections (Group 1)	$[●]

 

	APPLICATION OF SERIES 2017-1 PRINCIPAL COLLECTIONS DURING CONTROLLED ACCUMULATION PERIOD
	1)  Principal Funding Account	$[●]
	2)  Shared Excess Available Principal Collections available for allocation to other series in Shared Excess Available principal Collections (Group 1)	$[●]

    	 	B-1-5	 

     

    

 

	APPLICATION OF SERIES 2017-1 PRINCIPAL COLLECTIONS DURING EARLY AMORTIZATION PERIOD
	1)  Paid to the Class A Noteholders	$[●]
	2)  Paid to the Class B Noteholders	$[●]
	3)  Shared Excess Available Principal Collections available for allocation to other series in Shared Excess Available Principal Collections (Group 1)	$[●]

		

 

	APPLICATION OF SHARED EXCESS AVAILABLE PRINCIPAL COLLECTIONS ALLOCATED TO SERIES 2017-1
	1)  Shared Excess Available Principal Collections allocated to Series 2017 1	$[●]
	2)  Series 2017-1 Available Principal Collections Shortfall	$[●]
	3)  During the Controlled Accumulation Period:	 
	3a) Amount deposited in the Principal Funding Account	$[●]
	4)  During the Early Amortization Period:	 
	4a) Paid to the Class A Noteholders	$[●]
	4b) Paid to the Class B Noteholders	$[●]
	5)  Holder of the Transferor Interest	$[●]

 

	SERIES 2017-1 ACCOUNT INFORMATION
	Accumulation Reserve Account balance	$[●]
	Principal Funding Account balance	$[●]

 

	SERIES 2017-1 PERFORMANCE DATA
	Portfolio Yield	 
	Current Monthly Period	[●]%
	Prior Monthly Period	[●]%
	Second Prior Monthly Period	[●]%
	Base Rate	 
	Current Payment Date	[●]%
	Prior Payment Date	[●]%
	Second Prior Payment Date	[●]%
	Excess Spread Percentage	 
	Current Monthly Period	[●]%
	Prior Monthly Period	[●]%
	Second Prior Monthly Period	[●]%
	Quarterly Excess Spread Percentage	[●]%
	Required Excess Spread Percentage	[●]%
	Is the Quarterly Excess Spread Percentage greater than the Required Excess Spread Percentage?	[Yes/No]
	Delinquency Trigger Percentage	[●]%
	Is the Sixty Day Delinquency Rate Percentage equal to or greater than the Delinquency Trigger Percentage?	[Yes/No]

 

    	 	B-1-6	 

     

    

 

To the knowledge of the undersigned,
no Early Amortization Event or Early Redemption Event has occurred.

Capitalized terms used in this Monthly
Servicer Statement have their respective meanings set forth in the Indenture, the Indenture Supplement and the Servicing Agreement.

		BARCLAYS BANK DELAWARE, as Servicer
	 	 	 
	 	By: 	__________________________________
	 	 	
        Name:

Title:

         

 

    	 	B-1-7	 

     

    

EXHIBIT
B-2

FORM OF ANNUAL PAYMENT INFORMATION

BARCLAYS DRYROCK ISSUANCE TRUST

SERIES 2017-1

FOR THE YEAR ENDED DECEMBER 31, 20[•]

The undersigned,
a duly authorized representative of Barclays Bank Delaware (“BBD”), as Servicer pursuant to the Amended and
Restated Indenture, dated as of August 1, 2012, as amended and restated as of December 17, 2013 and as amended by the first amendment
thereto, dated as of July 6, 2015 (the “Indenture”), between Barclays Dryrock Issuance Trust (the “Issuer”
or the “Trust”), and U.S. Bank National Association, as indenture trustee (the “Indenture Trustee”),
as supplemented by the Indenture Supplement, dated as of May 23, 2017 (the “Indenture Supplement”), between
the Issuer and the Indenture Trustee, and (ii) the Amended and Restated Servicing Agreement, dated as of August 1, 2012, as amended
and restated as of December 17, 2013 (the “Servicing Agreement”), among Barclays Dryrock Funding LLC, as transferor
(the “Transferor”), Barclays Bank Delaware, as servicer and administrator (“BBD” or “Servicer”),
the Issuer and the Indenture Trustee, does hereby certify as follows:

Capitalized terms
used in this Certificate have their respective meanings set forth in the Indenture, the Indenture Supplement, and the Servicing
Agreement.

Pursuant to Section
7.03 of the Indenture Supplement, the Servicer instructed the Indenture Trustee to pay in accordance with Section 7.03 from amounts
in the collection Account and allocated to Series 2017-1 or the Principal Funding Account, as applicable, the following aggregate
amounts during the year ended December 31, 20[•]:

	A)	
        Pursuant to subsection 7.03(a):

         
	 
	 	
        Interest distributed to Class A Noteholders

         
	
        $_____________

         

	B)	
        Pursuant to subsection 7.03(b):

         
	 
	 	
        On each Payment Date with respect to the Early Amortization Period
        and on the Expected Final Payment Date principal distributed to the Class A Noteholders

         
	
        $_____________

         

	C)	
        Pursuant to subsection 7.03(c):

         
	 
	 	
        Interest distributed to Class B Noteholders

         
	
        $_____________

         

	D)	
        Pursuant to subsection 7.03(d):

         
	 
	 	On each Payment Date with respect to the Early Amortization Period and on the Expected Final Payment Date principal distributed to the Class B Noteholders	
         

        $_____________

 

    	 	B-2-1	 

     

    

 

IN WITNESS WHEREOF,
the undersigned has duly executed this Certificate this [•] day of [•], 20[•].

		BARCLAYS BANK DELAWARE, as Servicer
	 	 	 
	 	By: 	__________________________________
	 	 	
        Name:

Title:

         

 

    	 	B-2-2	 

     

    

EXHIBIT
B-3

FORM OF DAILY SERVICER’S STATEMENT

[•][•], 20[•]

Barclays Dryrock Issuance Trust

c/o Wilmington Trust National Association

Rodney Square North, 1100 North Market Street

Wilmington, DE 19890

Dear Sirs

In accordance with
the terms of the Servicing Agreement, Indenture and the Series 2017-1 Indenture Supplement

	1.	We hereby notify you that, as of the beginning of the day on [•][•], 20[•], the following accounts had cash balances set out below:
	 	 	 	 	 
	 	Collection Account	164142000	$[•]
	 	Excess Funding Account (EFA)	164142001	$[•]
	 	 	 	 	 
	2.	The movements of each Account on [•][•], 20[•] are as follows:
	 	 	 	 	 
	 	i.	Collection Account	 	 
	 	 	 	 	 
	 	 	Daily Transfers	 	 
	 	 	Collections	 	$[•]
	 	 	Investment proceeds on Collection Account	 	$[•]
	 	 	Transferor portion of finance charge collections to Barclays Dryrock Funding LLC	 	$[•]
	 	 	Transferor portion of principal collection to Barclays Dryrock Funding LLC	 	$[•]
	 	 	
        Transferor portion of principal collections to EFA

         
	 	$[•]
	 	 	Monthly Transfers	 	 
	 	 	Class A Monthly Interest	 	$[•]
	 	 	Servicing Fee	 	$[•]
	 	 	Transferor portion of Servicing Fee prefunding excess	 	$[•]
	 	 	Class B Monthly Interest	 	$[•]
	 	 	Series Default Amount	 	$[•]
	 	 	Series Additional Amount	 	$[•]
	 	 	Event of Default	 	$[•]
	 	 	Excess Spread to Transferor 	 	$[•]
	 	 	All other Trust Obligations	 	$[•]
	 	 	Deposit from the EFA (Excess EFA balance in accumulation period, treated as principal Investment earning on the EFA)	 	$[•]
	 	 	 	 	 

 

    	 	B-3-1	 

     

    

 

	 	 	Closing cash balance	 	$[•]
	 	 	 	 	 
	 	ii.	Excess Funding Account (EFA)	 	 
	 	 	 	 	 
	 	 	Opening cash balance	 	$[•]
	 	 	Transferor portion of principal collections received from Collection Account 	 	$[•]
	 	 	Excess EFA balance to Barclays Dryrock Funding LLC	 	$[•]
	 	 	Excess EFA balance to Collection Account	 	$[•]
	 	 	Withdrawal of investment earnings to Collection Account	 	$[•]
	 	 	Investment earnings credited to the account	 	$[•]
	 	 	 	 	 
	 	 	Closing cash balance	 	$[•]
	 	 	 	 	 
	 	iii.	Principal Funding Account (PFA)	 	 
	 	 	 	 	 
	 	 	Principal Funding Account (PFA) Series 2017-1	 	 
	 	 	Opening Cash Balance	 	$[•]
	 	 	Accumulation deposit from the Collection Account	 	$[•]
	 	 	Investment earnings credited to the account	 	$[•]
	 	 	Investment earnings to the Collection Account	 	$[•]
	 	 	Principal Payments to Indenture Trustee	 	$[•]
	 	 	 	 	 
	 	 	
        Closing cash balance

         
	 	$[•]
	 	 	Principal Funding Account (PFA) Series 2017-1	 	 
	 	 	 	 	 
	 	 	Opening Cash Balance	 	$[•]
	 	 	Accumulation deposit from the Collection Account	 	$[•]
	 	 	Investment earnings credited to the account	 	$[•]
	 	 	Investment earnings to the Collection Account	 	$[•]
	 	 	Principal Payments to Indenture Trustee	 	$[•]
	 	 	 	 	 
	 	 	Closing cash balance	 	$[•]
	 	 	 	 	 
	 	iv.	Accumulation Reserve Account	 	 
	 	 	 	 	 
	 	 	Accumulation Reserve Account Series 2017-1	 	 
	 	 	Opening Cash Balance	 	$[•]
	 	 	Deposit from the Collection Account	 	$[•]
	 	 	Investment earnings credited to the account	 	$[•]
	 	 	Investment earnings to the Collection Account	 	$[•]
	 	 	Accumulation Reserve Draw Amount to Collection Account	 	$[•]
	 	 	Accumulation Reserve Account Surplus to Barclays Dryrock Funding LLC	 	$[•]
	 	 	 	 	 
	 	 	Closing cash balance	 	$[•]

 

    	 	B-3-2	 

     

    

 

 

	 	 	Accumulation Reserve Account Series 2017-1	 	 
	 	 	Opening Cash Balance	 	$[•]
	 	 	Deposit from the Collection Account	 	$[•]
	 	 	Investment earnings credited to the account	 	$[•]
	 	 	Investment earnings to the Collection Account	 	$[•]
	 	 	Accumulation Reserve Draw Amount to Collection Account	 	$[•]
	 	 	Accumulation Reserve Account Surplus to Barclays Dryrock Funding LLC	 	$[•]
	 	 	 	 	 
	 	 	Closing cash balance	 	$[•]
	 	 	 	 	 
	3.	We hereby advise you to make the following transfers:	 	 

 

	From	Amount	To
	
        Collection Account

        164142000
	$[•]	Barclays Dryrock Funding LLC

[Account #]
	
        Collection Account

        164142000
	$[•]	Excess Funding Account

164142001
	
        Collection Account

        164142000
	$[•]	Barclays Dryrock Funding LLC

[Account #]
	
        Collection Account

        164142000
	$[•]	US Bank National Association

[Account #]
	
        Collection Account

        164142000
	$[•]	Barclays Bank Delaware

[Account #]
	
        Collection Account

        164142000
	$[•]	Principal Funding Series 2017-1

[__]
	
        Principal Funding Series 2017-1

        [__]
	$[•]	Collection Account

164142000
	
        Principal Funding Series 2017-1

        [__]
	$[•]	US Bank National Association

[Account #]
	
        Collection Account

        [__]
	$[•]	Principal Funding Series 2017-1

[__]
	
        Principal Funding Series 2017-1

        [__]
	$[•]	Collection Account

164142000
	
        Principal Funding Series 2017-1

        [__]
	$[•]	US Bank National Association

[Account #]
	
        Collection Account

        164142000
	$[•]	Accumulation Reserve Series 2017-1

[__]
	
        Accumulation Reserve Series 2017-1

        [__]
	$[•]	Collection Account

164142000
	
        Accumulation Reserve Series 2017-1

        [__]
	$[•]	Owner Trustee

(to be distributed to Barclays Dryrock Funding LLC)

    	 	B-3-3	 

     

    

 

	
        Collection Account

        164142000
	$[•]	Accumulation Reserve Series 2017-1

[__]
	
        Accumulation Reserve Series 2017-1

        [__]
	$[•]	Collection Account

164142000
	
        Accumulation Reserve Series 2017-1

        [__]
	$[•]	Owner Trustee

(to be distributed to Barclays Dryrock Funding LLC)

 

IN WITNESS WHEREOF,
the undersigned has duly executed and delivered this Certificate this [•] day of [•], [•].

		BARCLAYS BANK DELAWARE, as Servicer
	 	 	 
	 	By: 	__________________________________
	 	 	
        Name:

Title:

         

 

    	 	B-3-4	 

     

    

EXHIBIT
C

FORM OF MONTHLY SERVICER’S CERTIFICATE

BARCLAYS BANK DELAWARE

BARCLAYS DRYROCK ISSUANCE TRUST

SERIES 2017-1

The undersigned,
a duly authorized representative of Barclays Bank Delaware, as servicer (“BBD”), pursuant to the Amended and
Restated Servicing Agreement, dated August 1, 2012, as amended and restated as of December 17, 2013 (the “Agreement”),
among BARCLAYS DRYROCK FUNDING LLC, a Delaware limited liability company, as transferor, BBD, as servicer and administrator, BARCLAYS
DRYROCK ISSUANCE TRUST, a statutory trust created under the laws of the State of Delaware (the “Trust”), and
U.S. BANK NATIONAL ASSOCIATION, as Indenture Trustee (the “Indenture Trustee”), does hereby certify that:

1.                 
Capitalized terms used in this Certificate have their respective meanings set forth in the Agreement or the Amended and
Restated Indenture, dated as of August 1, 2012, as amended and restated as of December 17, 2013 and as amended by the first amendment
thereto, dated as of July 6, 2015 (the “Indenture”), between the Trust and the Indenture Trustee, as supplemented
by the Series 2017-1 Indenture Supplement, dated as of May 23, 2017, between the Trust and the Indenture Trustee (the “Indenture
Supplement” and together with the Indenture, the “Indenture”), as applicable.

2.                 
BBD is, as of the date hereof, the Servicer under the Agreement.

3.                 
The undersigned is an Authorized Officer of the Servicer who is duly authorized pursuant to the Agreement to execute and
deliver this Certificate to the Indenture Trustee.

4.                 
This Certificate relates to the Payment Date occurring on [__________ ____, 20__].

5.                 
As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects its
obligations under the Agreement and the Indenture through the Monthly Period preceding such Payment Date and no material default
in the performance of such obligations has occurred or is continuing except as set forth in paragraph 6 below.

6.                 
The following is a description of each material default in the performance of the Servicer’s obligations under the
provisions of the Agreement known to me to have been made by the Servicer through the Monthly Period preceding such Payment Date,
which sets forth in detail (i) the nature of each such default, (ii) the action taken by the Servicer, if any, to remedy each such
default and (iii) the current status of each such default: [If applicable, insert “None.”]

    	 	C-1	 

     

    

IN WITNESS WHEREOF,
the undersigned has duly executed and delivered this Certificate this [•] day of [•], [•].

		BARCLAYS BANK DELAWARE, as Servicer
	 	 	 
	 	By: 	__________________________________
	 	 	
        Name:

Title:

         

 

    	 	C-2

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