Document:

Exhibit 4.3

 

EXECUTION VERSION

 

INSTRUMENT OF
RESIGNATION, APPOINTMENT AND ACCEPTANCE and THIRD AMENDMENT TO SERVICING
AGREEMENT (this “Agreement”), dated as of May 22, 2008, by and
among GE CAPITAL CREDIT CARD MASTER NOTE TRUST, a Delaware statutory trust (“Owner”),
GE MONEY BANK, a federal savings bank organized under the laws of the United
States (the “Resigning Servicer”), and GENERAL ELECTRIC CAPITAL
CORPORATION, a Delaware corporation (the “Successor Servicer”).

 

RECITALS

 

WHEREAS, Owner and
Resigning Servicer are parties to a Servicing Agreement dated as of June 27,
2003 (as amended, the “Servicing Agreement”);

 

WHEREAS, the
Resigning Servicer wishes to resign as Servicer under the Servicing Agreement;
the Owner wishes to appoint the Successor Servicer to succeed the Resigning
Servicer as Servicer under the Servicing Agreement; and the Successor Servicer
wishes to accept appointment as Servicer under the Servicing Agreement; and

 

WHEREAS, the Owner
and the Successor Servicer desire to amend the Servicing Agreement as set forth
herein;

 

NOW, THEREFORE, in
consideration of the mutual covenants and promises herein, the receipt and
sufficiency of which is hereby acknowledged, the Owner, the Resigning Servicer
and the Successor Servicer agree as follows:

 

ARTICLE ONE

THE RESIGNING SERVICER

 

Section 1.               Definitions.  Capitalized
terms used in this Agreement and not otherwise defined herein are used as
defined in the Servicing Agreement.

 

Section 2.               Resignation.  Pursuant to Section 6.1 of the
Servicing Agreement, the Resigning Servicer hereby notifies the Owner that the
Resigning Servicer is hereby resigning as Servicer under the Servicing
Agreement.  The Owner hereby consents to
the resignation of the Resigning Servicer. 
Notwithstanding the resignation of the Resigning Servicer, the Resigning
Servicer, at the request of Owner, shall deliver the reports and fulfill the
other obligations of the Servicer described in Sections 2.8 and 2.9
of the Servicing Agreement as they relate to the period during which the Resigning
Servicer was acting as Servicer.

 

Section 3.               Appointment.  The Owner hereby appoints the Successor
Servicer as Servicer under the Servicing Agreement and confirms to the
Successor Servicer all the rights, powers, trusts and duties of the Servicer under
the Servicing Agreement.

 

Section 4.               Acceptance
of Appointment.  (a)  The
Successor Servicer hereby accepts its appointment as Servicer under the
Servicing Agreement and agrees to perform the duties and obligations set forth
therein and shall hereby be vested with all the rights, powers, trusts and
duties of the Servicer under the Servicing Agreement.

 

                                (b)  This
Agreement shall not constitute (i) a waiver by any of the parties hereto
of any obligation or liability which Resigning Servicer may have incurred in
connection with its 

 

 

 

 

 

services as
Servicer under the Servicing Agreement or (ii) an assumption by Successor
Servicer of any liability of Resigning Servicer arising out of a breach by
Resigning Servicer of its duties under the Servicing Agreement.  This Agreement does not constitute a waiver
or assignment by Resigning Servicer of any compensation, reimbursement,
expenses or indemnity to which it is or may be entitled pursuant to the
Servicing Agreement.

 

Section 5.               Servicing
Agreement Amendment.  The Servicing
Agreement is hereby amended as follows:

 

(a)  The
reference to “GE Money Bank” where it appears in Section 2.10 of
the Servicing Agreement is hereby replaced with “General Electric Capital
Corporation.”

 

(b) The term “bank”
is replaced with “corporation” where it appears in Section 3.1(a) of
the Servicing Agreement.

 

Section 6.               Representations
of Successor Servicer.  The Successor
Servicer hereby represents and warrants to the Resigning Servicer and to the
Owner that:

 

                (i)  The Successor Servicer
is qualified and eligible under Section 6.2 of the Servicing
Agreement to act as Servicer under the Servicing Agreement.

 

                (ii)  This Agreement has
been duly authorized, executed and delivered on behalf of the Successor
Servicer and constitutes its legal, valid and binding obligation.

 

Section 7.               No
Proceedings.  From and after the date
hereof and until the date one year plus one day following the date on which the
outstanding balances of all Transferred Receivables have been reduced to zero,
the Successor Servicer shall not, directly or indirectly, institute or cause to
be instituted against the Owner a case under any Debtor Relief Law; provided that the foregoing shall not in any
way limit the Successor Servicer’s right to pursue any other creditor rights or
remedies that the Successor Servicer may have under any applicable law.

 

Section 8.               Notices.  For the purposes of Section 8.1
of the Servicing Agreement, all notices, whether faxed or mailed, will be
deemed received as provided in Section 8.1 of the Servicing
Agreement when sent pursuant to the following instructions:

 

                TO THE RESIGNING
SERVICER:

 

GE Money Bank

4246 South Riverboat Road

Salt Lake City, Utah 84123

Attn: President

 

                TO THE SUCCESSOR SERVICER:

 

General
Electric Capital Corporation

 

 

 

 

 

 

777 Long Ridge Road,
Building B, 3rd Floor

Stamford, Connecticut
06927

 

                TO THE OWNER:

 

GE
Capital Credit Card Master Note Trust

101 Barclay Street, Floor
8 West (ABS Unit)

New York, New York
10286

Attn:  Asset Backed Securities

 

With
a copy to:

 

General
Electric Capital Corporation

777 Long Ridge Road,
Building B, 3rd Floor

Stamford, Connecticut 06927

 

Section 9.               Limitation
of Liability of the Trustee. 
Notwithstanding anything contained herein to the contrary, this
instrument has been countersigned by BNYM (Delaware), not in its individual
capacity but solely in its capacity as Trustee of the Owner, and in no event
shall BNYM (Delaware), in its individual capacity, or any beneficial owner of
the Owner have any liability for the representations, warranties, covenants,
agreements or other obligations of the Owner hereunder, as to all of which
recourse shall be had solely to the assets of the Owner.  For all purposes of this Agreement, in the
performance of any duties or obligations of the Owner thereunder, the Trustee
shall be subject to, and entitled to the benefits of, the terms and provisions
of the Trust Agreement, including Article VII.

 

Section 10.             Miscellaneous.  (a)  This Agreement and the resignation,
appointment and acceptance effected hereby shall be effective as of the opening
of business on the date first above written.

 

                                (b)  THIS
AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS,
INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, BE GOVERNED
BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE
STATE OF NEW YORK (INCLUDING SECTION 5-1401(1) OF THE GENERAL
OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAW PROVISIONS
THEREOF) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

                                (c)  This
Agreement may be executed in any number of counterparts each of which shall be
an original, but such counterparts shall together constitute but one and the
same Agreement.  Delivery of an executed
counterpart of this Agreement by telefacsimile or other electronic method of
transmission shall be equally as effective as delivery of an original executed
counterpart of this Agreement.

 

[Signature pages follow.]

 

 

 

 

 

 

 

 

                                IN WITNESS
WHEREOF, the parties hereto have caused this Instrument of Resignation,
Appointment and Acceptance and Third Amendment to Servicing Agreement to be
duly executed as of the day and year first above written.

 

 

	
   

  	
  GE CAPITAL CREDIT CARD MASTER 

  NOTE TRUST

  
	
   

  	
   

  
	
   

  	
  By:

  	
  BNYM (Delaware), not in its individual capacity, but
  solely on behalf of the Owner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James Ambagis

  
	
   

  	
   

  	
  Name:

  	
  James Ambagis

  
	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  

 

 

 

 

 

 

 

 

	
   

  	
  GE MONEY BANK, as Resigning Servicer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brent P. Wallace

  
	
   

  	
   

  	
  Name:

  	
  Brent P. Wallace

  
	
   

  	
   

  	
  Title:

  	
  President and Chief Executive Officer

  

 

 

 

 

 

 

 

 

 

	
   

  	
  GENERAL ELECTRIC CAPITAL 

  CORPORATION, as Successor Servicer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert C. Green

  
	
   

  	
   

  	
  Name:

  	
  Robert C. Green

  
	
   

  	
   

  	
  Title:

  	
  Vice PresidentExhibit 4.4

 

EXECUTION VERSION

 

SIXTH AMENDMENT TO TRANSFER AGREEMENT

 

This SIXTH AMENDMENT TO TRANSFER AGREEMENT, dated as
of May 21, 2008 (this “Amendment”), is entered into among: (i) RFS
Holding, L.L.C., a Delaware limited liability company (“Seller”); and (ii) GE
CAPITAL CREDIT CARD MASTER NOTE TRUST, a Delaware statutory trust (“Buyer”).

 

BACKGROUND

 

1.             Seller and Buyer
are parties to the Transfer Agreement, dated as of September 25, 2003, and
as amended by the Omnibus Amendment No. 1 to Securitization Documents,
dated as of February 9, 2004, the Second Amendment to Transfer Agreement,
dated as of June 17, 2004, the Third Amendment to Transfer Agreement,
dated as of November 21, 2004, the Fourth Amendment to Transfer Agreement,
dated as of August 31, 2006, and the Fifth Amendment to Transfer
Agreement, dated as of December 21, 2006 (as amended, the “Transfer
Agreement”).

 

2.             Buyer and Seller desire to amend
the Transfer Agreement as set forth herein.

 

AMENDMENTS

 

The
parties hereto agree as follows:

 

SECTION 1.  DEFINITIONS.  As used herein, (a) capitalized terms
which are defined in the preamble hereto shall have the meanings as so
defined, and (b) capitalized terms not so defined shall have the meanings
set forth in the Transfer Agreement as amended hereby.

 

SECTION 2.  AMENDMENTS TO TRANSFER AGREEMENT.

 

(a)           The
following definition shall be added to Section 1.1 in the
appropriate alphabetical order:

 

““CareCredit”
means CareCredit LLC.”

 

(b)           Section 2.6(a) is
deleted and replaced in its entirety with the following:

 

                “(a)         Additional Accounts.  If, at the end of any Monthly Period the Free
Equity Amount is less than the Minimum Free Equity Amount, unless the Free
Equity Amount (calculated after giving effect to any payment of principal on
the Notes to occur on the following Payment Date) is at least equal to the
Minimum Free Equity Amount as of the close of business on any day that is after
the last day of such Monthly Period but on or prior to the 10th
Business Day following the end of such Monthly Period (the “Required
Designation Date”), Transferor shall, prior to the close of business on the
Required Designation Date, require Originator to designate additional Eligible
Accounts to be included as “Accounts” 

 

 

 

 

 

under (and as defined in) the Bank Receivables Sale
Agreement, and Transferor shall in turn designate such accounts (“Additional
Accounts”) as Accounts for purposes of this Agreement in a sufficient
amount such that the Free Equity Amount (calculated after giving effect to any
payment of principal on the Notes to occur on the following Payment Date) as of
the close of business on the Addition Date, is at least equal to the Minimum
Free Equity Amount. In addition if at the end of any Monthly Period the Note
Trust Principal Balance is less than the Required Principal Balance, unless the
Note Trust Principal Balance is at least equal to the Required Principal
Balance (calculated after giving effect to any payment of principal on the
Notes to occur on the following Payment Date) as of the close of business on
any day that is after the last day of such Monthly Period but on or prior to
the Required Designation Date, Transferor shall, prior to the close of business
on the Required Designation Date, require Originator to designate additional
Eligible Accounts to be included as “Accounts” under (and as defined in) the
Bank Receivables Sale Agreement, and Transferor shall in turn designate such
accounts as Additional Accounts for purposes of this Agreement in a sufficient
amount such that the Note Trust Principal Balance as of the close of business
on the Addition Date, is at least equal to the Required Principal Balance
(calculated after giving effect to any payment of principal on the Notes to
occur on the following Payment Date). To the extent Transferor designates
Additional Accounts with Principal Receivables substantially in excess of the
amount of Principal Receivables required under this subsection 2.6(a),
such excess shall be deemed to be optional Additional Accounts under subsection
2.6(b) below and will be permitted to be designated solely to the
extent permitted by subsection 2.6(b).”

 

(c)           Subsection 2.6(d)(vi) is
deleted and replaced in its entirety with the following:

 

“(vi)        such Additional
Accounts shall not relate to Montgomery Ward, CareCredit or, unless the Rating
Agency Condition has been satisfied, the GECAF Retailers; and”

 

(d)           The first clause of
the first sentence of Section 2.7(e) is deleted and replaced
in its entirety with the following:

 

“(e)         Notwithstanding
anything to the contrary in Section 2.7, and without satisfying the
conditions set forth in Section 2.7(a), the Transferor may
designate as Removed Accounts any Accounts relating to the Montgomery Wards,
GECAF or CareCredit programs upon satisfaction of the following conditions:”

 

(e)           The phrase “Montgomery
Wards and GECAF programs” in clause (iii)(A) of Section 2.7(e) is
replaced with the following: “Montgomery Wards, GECAF, or CareCredit programs,
as applicable,”.

 

 

 

 

 

(f)            The first reference
to “Note Trust Principal Balance” in clause (v) of Section 2.7(a) and
the first reference to “Note Trust Principal Balance” in clause (iv) of Section 2.7(e) are
in each case deleted and replaced with the following: “the aggregate
Outstanding Balance of Principal Receivables”.

 

SECTION 3.  EFFECTIVENESS.  This Amendment shall become effective as of
the date first written above; provided that (i) Buyer and Seller
shall have executed a counterpart of this Amendment, (ii) the Rating
Agency Condition shall have been satisfied and (iii) the Transferor shall
have delivered an Officer’s Certificate to the Issuer certifying that this
amendment will not cause an Adverse Effect (as such term is defined in the
Indenture).

 

SECTION 4. 
BINDING EFFECT; RATIFICATION. 
(a)                On
and after the execution and delivery hereof, (i) this
Amendment shall be a part of the Transfer Agreement and (ii) each
reference in the Transfer Agreement to “this Agreement”, “hereof”, “hereunder”
or words of like import, and each reference in any other Related Document to
the Transfer Agreement, shall mean and be a reference to such Transfer
Agreement as amended hereby.

 

(b)           Except
as expressly amended hereby, the Transfer Agreement shall remain in full force
and effect and is hereby ratified and confirmed by the parties hereto.

 

SECTION 5.  MISCELLANEOUS. (a) THIS
AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAW.

 

(b)           Headings used herein are for convenience of reference only
and shall not affect the meaning of this Amendment.

 

(c)           This
Amendment may be executed in any number of counterparts, and by the parties
hereto on separate counterparts, each of which shall be an original and all of
which taken together shall constitute one and the same agreement.  Executed counterparts may be delivered
electronically.

 

 

 

 

 

IN WITNESS WHEREOF, the parties have executed this
Amendment by their respective officers thereunto duly authorized as of the date
first above written.

 

 

	
   

  	
  RFS HOLDING, L.L.C.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ravi Ramanujam

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Ravi Ramanujam

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Vice President

  

 

 

 

	
   

  	
  GE CAPITAL CREDIT CARD MASTER NOTE TRUST

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  General Electric Capital Corporation, not in its
  individual capacity but solely as Administrator on behalf of GE Capital
  Credit Card Master Note Trust

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert C. Green

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Robert C. Green

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Vice President

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