Document:

EXHIBIT 4.1

EXHIBIT 4.1

EXECUTION COPY

 

SERIES 2001-2 SUPPLEMENT

Dated as of May 2, 2001

to

POOLING AND SERVICING AGREEMENT

Dated as of September 30, 1993

$1,200,000,000

 

CAPITAL ONE MASTER TRUST

SERIES 2001-2

 

among

CAPITAL ONE BANK

Seller and Servicer

CAPITAL ONE, F.S.B.

Seller

and

THE BANK OF NEW YORK

Trustee

on behalf of the Series 2001-2 Certificateholders

 

TABLE OF CONTENTS

	 	 	 Page

					 

	ARTICLE I	
CREATION OF THE SERIES 2001-2 CERTIFICATES
	 2

		Section 1.01.	
Designation
	 2

	 	 	 

	ARTICLE II	
DEFINITIONS
	 3

		Section 2.01.	
Definitions
	 3

		Section 2.02.	
Amendment to Section 2.08 of the Agreement
	 19

	 	 	 

	ARTICLE III	
SERVICER AND TRUSTEE
	 20

		Section 3.01.	
Servicing Compensation
	 20

	 	 	 

	ARTICLE IV	
RIGHTS OF SERIES 2001-2 CERTIFICATEHOLDERS AND

COLLATERAL INTEREST HOLDER AND ALLOCATION AND

APPLICATION OF COLLECTIONS
	 21

		Section 4.01.	
Collections and Allocations
	 21

		Section 4.02.	
Determination of Monthly Interest
	 21

		Section 4.03.	
Determination of Monthly Principal; Series 2001-2 Accounts
	 23

		Section 4.04.	
Required Amount
	 26

		Section 4.05.	
Application of Class A Available Funds, Class B Available Funds,

Collateral Available Funds and Available Investor Principal

Collections
	 26

		Section 4.06.	
Defaulted Amounts; Investor Charge-Offs
	 29

		Section 4.07.	
Excess Spread; Excess Finance Charges
	 30

		Section 4.08.	
Reallocated Principal Collections
	 32

		Section 4.09.	
Excess Finance Charges
	 32

		Section 4.10.	
Shared Principal Collections
	 33

		Section 4.11.	
Reserve Account
	 33

		Section 4.12.	
Interest Rate Swap
	 35

	 	 	 

	ARTICLE V	
DISTRIBUTIONS AND REPORTS TO SERIES 2001-2

CERTIFICATEHOLDERS
	 37

		Section 5.01.	
Distributions
	 37

		Section 5.02.	
Reports and Statements to Series 2001-2 Certificateholders
	 39

	 	 	 

	ARTICLE VI	
ADDITIONAL PAY OUT EVENTS
	 39

		Section 6.01.	
Additional Pay Out Events
	 39

	 	 	 

	ARTICLE VII	
OPTIONAL REPURCHASE; SERIES TERMINATION
	 40

		Section 7.01.	
Optional Repurchase
	 40

		Section 7.02.	
Series Termination
	 41

	 	 	 Page

					 

	ARTICLE VIII	
FINAL DISTRIBUTIONS
	 41

	 	Section 8.01.	
Sale of Receivables or Certificateholders' Interest pursuant to

Section 2.06 or 10.01 of the Agreement
	 41

	 	Section 8.02.	
Distribution of Proceeds of Sale, Disposition or Liquidation of the

Receivables pursuant to Section 9.02 of the Agreement
	 42

	 	 	 
	ARTICLE IX	
NEW ISSUANCES; ADDITION OF ACCOUNTS
	 45

	 	Section 9.01.	
New Issuances
	 45

	 	 	 
	ARTICLE X	
MISCELLANEOUS PROVISIONS
	 45

	 	Section 10.01.	
Ratification of Agreement
	  45

	 	Section 10.02.	
Counterparts
	  45

	 	Section 10.03.	
GOVERNING LAW
	  45

	 	Section 10.04.	
Determination of Material Adverse Effect
	  45

	 	Section 10.05.	
Book-Entry Certificates
	  45

	 	Section 10.06. 	
Uncertificated Securities
	 45

	 	Section 10.07.	
Transfers of the Collateral Interest
	 46

	 	 
	
SECTION 10.08. CERTAIN ACCOUNTING RELATED AMENDMENTS
	 46

EXHIBITS 

	
EXHIBIT A-1

EXHIBIT A-2

EXHIBIT B

EXHIBIT C

EXHIBIT D 

	Form of Class A Certificate

Form of Class B Certificate

Form of Monthly Certificateholders' Statement

Form of Monthly Servicing Officer's Certificate

Form of Investment Letter

  

                        SERIES 2001-2 SUPPLEMENT, dated as of May 2, 2001
(the "Supplement"), among CAPITAL ONE BANK, a Virginia banking corporation, as a Seller and the Servicer, CAPITAL ONE, F.S.B., a federal savings bank, as a Seller, and THE BANK OF NEW YORK, a New York banking corporation, as the
Trustee.

                        Pursuant to the Pooling and Servicing Agreement,
dated as of September 30, 1993, as amended and restated as of April 9, 2001 (as amended and restated and as amended and supplemented, the "Agreement"), among the Sellers, the Servicer and the Trustee, the Sellers have created Capital One
Master Trust (the "Trust"). Section 6.03 of the Agreement provides that the Seller may from time to time direct the Trustee to authenticate one or more new Series of Investor Certificates representing fractional undivided interests in the
Trust. The Principal Terms of any new Series are to be set forth in a Supplement to the Agreement.

                        Pursuant to this Supplement, the Sellers and the
Trustee shall create a new Series of Investor Certificates and specify the Principal Terms thereof.

ARTICLE I

Creation of the Series 2001-2 Certificates

                        

Section 1.01.      Designation.

                        (a)         There is hereby created a Series of Investor Certificates to be issued pursuant to the Agreement and this Supplement to be known as "Capital One Master Trust, Series 2001-2." The
Series 2001-2 Certificates shall be issued in two Classes, the first of which shall be known as the "Class A Floating Rate Asset Backed Certificates, Series 2001-2" and the second of which shall be known as the "Class B Floating Rate
Asset Backed Certificates, Series 2001-2." In addition, there is hereby created a third Class of uncertificated interests in the Trust which, except as expressly provided herein, shall be deemed to be "Investor Certificates" (and the
Collateral Interest Holder shall be deemed to be an "Investor Certificateholder") for all purposes under the Agreement and this Supplement and which shall be known as the "Collateral Interest, Series 2001-2."

                        (b)         Series 2001-2 shall be included in Group One and shall be a Principal Sharing Series. Series 2001-2 shall not be subordinated to any other Series. Notwithstanding any provision in the
Agreement or in this Supplement to the contrary, the first Distribution Date with respect to Series 2001-2 shall be the June 2001 Distribution Date.

                        (c)         In the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Agreement, the terms and provisions of this
Supplement shall govern.

                        (d)         The Collateral Interest Holder, as holder of an "Investor Certificate" shall be entitled to the benefits of the Agreement and this Supplement. Notwithstanding the foregoing,
except as expressly provided herein, (i) the provisions of Article VI and Article XII of the Agreement relating to the registration, authentication, delivery, presentation, cancellation and
surrender of Registered Certificates and clauses (a) and (c) of the definition of "Tax Opinion" in Section 1.01 of the Agreement shall not be applicable to the Collateral Interest, and (ii) the provisions of Section 3.07 of the Agreement
shall not apply to cause the Collateral Interest to be treated as debt for federal, state and local income and franchise tax purposes, but rather the Seller intends and, together with the Collateral Interest Holder, agrees to treat the Collateral
Interest for federal, state and local income and franchise tax purposes as representing an equity interest in the assets of the Trust.

 

ARTICLE II

Definitions

                        

Section 2.01.     Definitions. 

                        (a)         Whenever used in this Supplement, the following words and phrases shall have the following meanings, and the definitions of such terms are applicable to the singular as well as the plural
forms of such terms and the masculine as well as the feminine and neuter genders of such terms.

                        "Accumulation Period" shall mean,
unless a Pay Out Event shall have occurred prior thereto, the period commencing at the close of business on the last day of the February 2005 Monthly Period or such later date as is determined in accordance with Section 4.03(f) and ending on the
first to occur of (a) the commencement of the Early Amortization Period, (b) the payment in full to Series 2001-2 Holders of the Invested Amount or (c) the Termination Date.

                        "Accumulation Period Amount"
shall mean for each Monthly Period, an amount equal to the product of (i) Available Expected Principal for such Monthly Period and (ii) a fraction, the numerator of which is the Initial Invested Amount and the denominator of which is the sum of (a)
the Initial Invested Amount and (b) the invested amounts of all other Variable Accumulation Series which are not scheduled to be in their revolving periods as of such Monthly Period; provided that, for purposes of this definition, the
commencement date of the accumulation period of each such Variable Accumulation Series shall be deemed to have been postponed to the latest permissible date, determined as if the provisions of Section 4.03(f) applied to each such Series with such
changes as may be specified with respect to such Series (applying such provisions first to the Variable Accumulation Series with the latest expected final payment date and next to each Series with the next preceding expected final payment
date).

                        "Accumulation Period Length"
shall have the meaning specified in Section 4.03(f).

                        "Additional Interest" shall mean,
at any time of determination, the Class A Additional Interest, the Class B Additional Interest and the Collateral Additional Interest.

                        "Adjusted Invested Amount" shall
mean, with respect to any date of determination, an amount equal to the Invested Amount less the Principal Funding Account Balance on such date of determination.

                        "Assignee" shall have the meaning
specified in subsection 10.07(a).

                        "Available Expected Principal"
for any date of determination with respect to each Monthly Period shall be equal to the excess of (a) the Expected Monthly Principal for such Monthly Period over (b) the sum of, without duplication, all scheduled amortizations or accumulations of
principal, including past due shortfalls as of such date of determination, for all Nonvariable Accumulation Series which are not scheduled to be in their revolving periods as of such Monthly Period.

                        "Available Investor Principal
Collections" shall mean, with respect to any Monthly Period, an amount equal to the sum of (a) (i) an amount equal to the Principal Allocation Percentage of all Collections of Principal Receivables received during such Monthly Period,
minus (ii) the amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to Section 4.08(a) or 4.08 (b) are required to fund any deficiency in the amount to be distributed pursuant to Sections 4.05(a)(i),
(ii), (iii) and (iv), 4.05(b)(i) and (ii) and 4.07(c)(II) for the related Distribution Date, plus (b) the amount of Miscellaneous Payments, if any, for such Monthly Period that are allocated to Series 2001-2 pursuant to Section 4.03 of the
Agreement, plus (c) any Shared Principal Collections with respect to other Series that are allocated to Series 2001-2 in accordance with Section 4.04 of the Agreement and Section 4.10 hereof, plus (d) the amount of funds to be
distributed pursuant to Section 4.05(a)(iv) with respect to the related Distribution Date, plus (e) any other amounts which pursuant to Section 4.07 hereof are to be treated as Available Investor Principal Collections with respect to the
related Distribution Date.

                        "Available Reserve Account
Amount" shall mean, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such Distribution Date) and (b)
the Required Reserve Account Amount for such Distribution Date.

                        "Base Rate" shall mean, with
respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is equal to the sum of the Class A Monthly Interest, the Class B Monthly Interest, the Collateral Minimum Monthly Interest, the Monthly
Servicing Fee and the Net Swap Payment, if any, less the Net Swap Receipt, if any, deposited in the Collection Account, each with respect to the related Distribution Date and the denominator of which is the Invested Amount as of the last day of the
preceding Monthly Period; provided, however, that for the first Monthly Period, the denominator is the Initial Invested Amount.

                        "Class A Account Percentage"
shall mean, with respect to any date of determination, the percentage equivalent of a fraction, the numerator of which is the aggregate amount with respect to Class A Monthly Principal on deposit in the Principal Funding Account on such date (before
giving effect to any deposit to be made to the Principal Funding Account on such date) and the denominator of which is the Principal Funding Account Balance on such date (before giving effect to any deposit to be made to the Principal Funding
Account on such date).

                        "Class A Additional Interest"
shall have the meaning specified in Section 4.02(a).

                        "Class A Adjusted Invested
Amount" shall mean, with respect to any date of determination, an amount not less than zero equal to the Class A Invested Amount less the Principal Funding Account Balance on such date.

                        "Class A Available Funds" shall
mean, with respect to any Monthly Period, an amount equal to the sum of (a) an amount equal to the product of (i) the Class A Account Percentage and (ii) the amount of Principal Funding Investment Proceeds, if any, with respect to the related
Distribution Date, (b) the Class A Floating Percentage of the Collections of Finance Charge Receivables (other than Finance Charge Receivables allocated to Servicer Interchange with respect to such Monthly Period) allocated to the Series 2001-2
Certificates (including any investment earnings that are to be treated as Collections of Finance Charge Receivables in accordance with the Agreement and this Supplement), (c) the amount of funds, if any, to be withdrawn from the Reserve Account
which, pursuant to Section 4.11(d), are required to be included in Class A Available Funds with respect to the related Distribution Date and (d) the Net Swap Receipt, if any, deposited in the Collection Account on the related Distribution Date and
previously due but not paid Net Swap Receipts, if any, deposited in the Collection Account on the related Distribution Date.

                        "Class A Certificate Rate" shall
mean, for any Interest Period, a per annum rate equal to LIBOR for such Interest Period plus 0.14%.

                        "Class A Certificateholder" shall
mean the Person in whose name a Class A Certificate is registered in the Certificate Register.

                        "Class A Certificates" shall mean
any of Certificates executed by the Banks and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A-1.

                        "Class A Floating Percentage"
shall mean, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class A Adjusted Invested Amount as of the close of business on the last day
of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of such day; provided, however, that, with respect to the first Monthly Period, the Class A Floating Percentage shall mean the
Class A Initial Percentage.

                        "Class A Initial Invested Amount"
shall mean the aggregate initial principal amount of the Class A Certificates, which is $975,000,000.

                        "Class A Initial Percentage"
shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Invested Amount and the denominator of which is the Initial Invested Amount.

                        "Class A Interest Shortfall"
shall have the meaning specified in Section 4.02(a).

                        "Class A Invested Amount" shall
mean, on any date of determination, an amount equal to (a) the Class A Initial Invested Amount, minus (b) the aggregate amount of principal
payments made to the Class A Certificateholders on or prior to such date, minus (c) the excess, if any, of the aggregate amount of Class A Investor Charge-Offs for all prior Distribution Dates over the aggregate amount of Class A
Investor Charge-Offs reimbursed pursuant to Section 4.06(a) prior to such date; provided, however, that the Class A Invested Amount may not be reduced below zero.

                        "Class A Investor Charge-Offs"
shall have the meaning specified in Section 4.06(a).

                        "Class A Investor Default Amount"
shall mean, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for the related Monthly Period and (ii) the Class A Floating Percentage for such Monthly Period.

                        "Class A Monthly Interest" shall
have the meaning specified in Section 4.02(a).

                        "Class A Monthly Principal" shall
have the meaning specified in Section 4.03(a).

                        "Class A Outstanding Additional
Interest" shall mean, with respect to any Distribution Date, the amount of Class A Additional Interest previously due but not paid to the Class A Certificateholders.

                        "Class A Outstanding Monthly
Interest" shall mean, with respect to any Distribution Date, the amount of Class A Monthly Interest previously due but not paid to the Class A Certificateholders.

                        "Class A Penalty Rate" shall
mean, for any Interest Period, the sum of the Class A Certificate Rate for such Interest Period and 2.00% per annum.

                        "Class A Principal Percentage"
shall mean, with respect to any Monthly Period (i) during the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the last day of the
immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Closing Date) and the denominator of which is the Invested Amount as of such day and (ii) during the Accumulation Period or the Early Amortization Period,
the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the last day of the Revolving Period, and the denominator of which is the Invested Amount as of such last
day; provided, however, that, with respect to the first Monthly Period, the Class A Principal Percentage shall mean the Class A Initial Percentage.

                        "Class A Required Amount" shall
have the meaning specified in Section 4.04(a).

                        "Class A Servicing Fee" shall
have the meaning specified in Section 3.01.

                        "Class B Account Percentage"
shall mean, with respect to any date of determination, the percentage equivalent of a fraction, the numerator of which is the aggregate amount with respect to Class B Monthly Principal on deposit in the Principal Funding Account
on such date (before giving effect to any deposit to be made to the Principal Funding Account on such date) and the denominator of which is the Principal Funding Account Balance on such date (before giving effect to any deposit to be made to the
Principal Funding Account on such date).

                        "Class B Additional Interest"
shall have the meaning specified in Section 4.02(b).

                        "Class B Adjusted Invested
Amount" shall mean, with respect to any date of determination, an amount not less than zero equal to the Class B Invested Amount less the excess, if any, of the Principal Funding Account Balance over the Class A Invested Amount on such
date.

                        "Class B Available Funds" shall
mean, with respect to any Monthly Period, an amount equal to the sum of (a) an amount equal to the product of (i) the Class B Account Percentage and (ii) the amount of Principal Funding Investment Proceeds, if any, with respect to the related
Distribution Date, (b) the Class B Floating Percentage of the Collections of Finance Charge Receivables (other than Finance Charge Receivables allocated to Servicer Interchange with respect to such Monthly Period) allocated to the Series 2001-2
Certificates (including any investment earnings that are to be treated as Collections of Finance Receivables in accordance with the Agreement) and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to Section
4.11(d), are required to be included in Class B Available Funds with respect to the related Distribution Date.

                        "Class B Certificate Rate" shall
mean, for any Interest Period, a per annum rate equal to LIBOR for such Interest Period plus 0.40%.

                        "Class B Certificateholder" shall
mean the Person in whose name a Class B Certificate is registered in the Certificate Register.

                        "Class B Certificates" shall mean
any one of the Certificates executed by the Banks and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A-2.

                        "Class B Floating Percentage"
shall mean, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class B Adjusted Invested Amount as of the close of business on the last day
of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of the close of business on such day; provided, however, that, with respect to the first Monthly Period, the Class B Floating
Percentage shall mean the Class B Initial Percentage.

                        "Class B Initial Invested Amount"
shall mean the aggregate initial principal amount of the Class B Certificates, which is $120,000,000.

                        "Class B Initial Percentage"
shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Invested Amount and the denominator of which is the Initial Invested Amount.

                        "Class B Interest Shortfall"
shall have the meaning specified in Section 4.02(b).

                        "Class B Invested Amount" shall
mean, on any date of determination, an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholders prior to such date, minus (c) the aggregate
amount of Class B Investor Charge-Offs for all prior Distribution Dates, minus (d) the aggregate amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to Section 4.08(a) (excluding any Reallocated
Principal Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to Section 4.06(c)), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced on all prior Distribution
Dates pursuant to Section 4.06(a), plus (f) the amount of Excess Spread and Excess Finance Charges allocated and available on all prior Distribution Dates pursuant to Section 4.07(d) for the purpose of reimbursing amounts deducted pursuant to
the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested Amount may not reduced below zero.

                        "Class B Investor Charge-Offs"
shall have the meaning specified in Section 4.06(b).

                        "Class B Investor Default Amount"
shall mean, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for the related Monthly Period and (ii) the Class B Floating Percentage for such Monthly Period.

                        "Class B Monthly Interest" shall
have the meaning specified in Section 4.02(b).

                        "Class B Monthly Principal" shall
have the meaning specified in Section 4.03(b).

                        "Class B Outstanding Additional
Interest" shall mean, with respect to any Distribution Date, the amount of Class B Additional Interest previously due but not paid to the Class B Certificateholders.

                        "Class B Outstanding Monthly
Interest" shall mean, with respect to any Distribution Date, the amount of Class B Monthly Interest previously due but not paid to the Class B Certificateholders.

                        "Class B Penalty Rate" shall
mean, for any Interest Period, the sum of the Class B Certificate Rate for such Interest Period and 2.00% per annum.

                        "Class B Principal Percentage"
shall mean, with respect to any Monthly Period (i) during the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Invested Amount as of the last day of the
immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Closing Date) and the denominator of which is the Invested Amount as of such day and (ii) during the Accumulation Period or the Early Amortization Period,
the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Invested Amount as of the last day of the Revolving Period, and the denominator of which is the
Invested Amount as of such last day; provided, however, that, with respect to the first Monthly Period, the Class B Principal Percentage shall mean the Class B Initial Percentage.

                        "Class B Required Amount" shall
have the meaning specified in Section 4.04(b).

                        "Class B Servicing Fee" shall
have the meaning specified in Section 3.01.

                        "Closing Date" shall mean May 2,
2001.

                        "Collateral Account Percentage"
shall mean, with respect to any date of determination, the percentage equivalent of a fraction, the numerator of which is the aggregate amount with respect to Collateral Monthly Principal on deposit in the Principal Funding Account on such date
(before giving effect to any deposit to be made to the Principal Funding Account on such date) and the denominator of which is the Principal Funding Account Balance on such date (before giving effect to any deposit to be made to the Principal
Funding Account on such date).

                        "Collateral Additional Interest"
shall have the meaning specified in Section 4.02(c).

                        "Collateral Adjusted Invested
Amount" shall mean, with respect to any date of determination, an amount not less than zero equal to the Collateral Invested Amount less the excess, if any, of the Principal Funding Account Balance over the sum of the Class A Invested
Amount and the Class B Invested Amount on such date.

                        "Collateral Available Funds"
shall mean, with respect to any Monthly Period, an amount equal to the sum of (a) an amount equal to the product of (i) the Collateral Account Percentage and (ii) the amount of Principal Funding Investment Proceeds, if any, with respect to the
related Distribution Date and (b) the Collateral Floating Percentage of the Collections of Finance Charge Receivables (other than Finance Charge Receivables allocated to Servicer Interchange with respect to such Monthly Period) allocated to the
Series 2001-2 Certificates (including any investment earnings that are to be treated as Collections of Finance Charge Receivables in accordance with the Agreement).

                        "Collateral Floating Percentage"
shall mean, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Collateral Adjusted Invested Amount as of the close of business on the last day of the
preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of such day; provided, however, that with respect to the first Monthly Period, the Collateral Floating Percentage shall mean the
percentage equivalent of a fraction, the numerator of which is the Collateral Initial Invested Amount and the denominator of which is the Initial Invested Amount.

                        "Collateral Initial Invested
Amount" shall mean $105,000,000.

                        "Collateral Interest" shall mean
a fractional undivided interest in the Trust which shall consist of the right to receive (i) to the extent necessary to make the required payments to a
Collateral Interest Holder under this Supplement, the portion of Collections allocable thereto under the Agreement and this Supplement and funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Supplement and
(ii) amounts available for payment to the Collateral Interest Holder pursuant to, without duplication, Section 4.05 and subsections 4.07(j), 4.11(d)(iii), 4.11(e), 4.11(f), 4.12(c), 8.01(b), 8.02(a) and 8.02(b).

                        "Collateral Interest Holder"
shall mean the entity so designated in the Transfer Agreement.

                        "Collateral Interest Minimum
Rate" shall mean a rate per annum specified in the Transfer Agreement not to exceed LIBOR for one-month United States dollar deposits, determined as of the related LIBOR Determination Date, plus 1.30%.

                        "Collateral Interest Shortfall"
shall have the meaning specified in subsection 4.02(c).

                        "Collateral Invested Amount"
shall mean, when used with respect to any date, an amount equal to (a) the Collateral Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Collateral Interest Holder prior to such date, minus (c) an
amount equal to the aggregate amount by which the Collateral Invested Amount has been reduced on all prior Distribution Dates pursuant to Section 4.06, plus (d) the aggregate amount of Excess Finance Charges and Excess Spread allocated and
available on all prior Distribution Dates pursuant to Section 4.07(h) for the purpose of reimbursing amounts deducted pursuant to the foregoing clause (c); provided, however, that the Collateral Invested Amount may not be reduced below
zero.

                        "Collateral Investor Default
Amount" shall mean, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for the related Monthly Period and (ii) the Collateral Floating Percentage for such Monthly Period.

                        "Collateral Minimum Monthly
Interest" shall have the meaning specified in Section 4.02(c).

                        "Collateral Monthly Principal"
shall have the meaning specified in Section 4.03(c).

                        "Collateral Outstanding Additional
Interest" shall mean, with respect to any Distribution Date, the amount of Collateral Additional Interest previously due but not paid to the Collateral Interest Holder.

                        "Collateral Outstanding Monthly
Interest" shall mean, with respect to any Distribution Date, the amount of Collateral Minimum Monthly Interest previously due but not paid to the Collateral Interest Holder.

                        "Collateral Servicing Fee" shall
have the meaning specified in Section 3.01.

                        "Controlled Accumulation Amount"
shall mean for any Distribution Date with respect to the Accumulation Period, $100,000,000; provided, however, that, if the Accumulation Period is modified pursuant to Section 4.03(f), (i) the Controlled Accumulation Amount for each
Distribution Date with respect to the Accumulation Period shall mean the amount specified in accordance with such Section on the date on which the Accumulation Period has most recently been modified, (ii) the Controlled Accumulation Amount for each
related Monthly Period shall be no greater than the Accumulation Period Amount for such Monthly Period and (iii) the sum of the Controlled Accumulation Amounts for all Distribution Dates with respect to the modified Accumulation Period shall not be
less than the Initial Invested Amount.

                        "Controlled Deposit Amount" shall
mean, for any Distribution Date with respect to the Accumulation Period, an amount equal to the sum of the Controlled Accumulation Amount for such Distribution Date and any Deficit Controlled Accumulation Amount for the immediately preceding
Distribution Date.

                        "Covered Amount" shall mean for
any Distribution Date with respect to the Accumulation Period or the first Special Payment Date, an amount equal to the sum of (a) the product of (i) the Swap Fixed Rate, or, in the event the Interest Rate Swap has been terminated, the Class A
Certificate Rate, in either case, in effect for the related Interest Period, (ii) a fraction, the numerator of which is 30, or, in the event the Interest Rate Swap has been terminated, the numerator of which is the actual number of days from and
including the preceding Distribution Date to but excluding such Distribution Date and, in either case, the denominator of which is 360 and (iii) the aggregate amount on deposit in the Principal Funding Account with respect to Class A Monthly
Principal, if any, as of the preceding Distribution Date, plus (b) the product of (i) the Class B Certificate Rate in effect for the related Interest Period, (ii) a fraction, the numerator of which is the actual number of days from and
including the preceding Distribution Date to but excluding such Distribution Date and the denominator of which is 360 and (iii) the aggregate amount on deposit in the Principal Funding Account with respect to Class B Monthly Principal, if any, as of
the preceding Distribution Date, plus (c) the product of (i) the Collateral Interest Minimum Rate in effect for the related Interest Period, (ii) a fraction, the numerator of which is the actual number of days from and including the preceding
Distribution Date to but excluding such Distribution Date and the denominator of which is 360 and (iii) the aggregate amount on deposit in the Principal Funding Account with respect to Collateral Monthly Principal, if any, as of the preceding
Distribution Date.

                        "Cut-Off Date" shall mean May 1,
2001.

                        "Deficit Controlled Accumulation
Amount" shall mean (a) on the first Distribution Date with respect to the Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount distributed from the Collection Account as
Class A Monthly Principal, Class B Monthly Principal and Collateral Monthly Principal for such Distribution Date and (b) on each subsequent Distribution Date with respect to the Accumulation Period, the excess, if any, of the Controlled Deposit
Amount for such subsequent Distribution Date plus any Deficit Controlled Accumulation Amount for the prior Distribution Date over the amount distributed from the Collection Account as Class A
Monthly Principal, Class B Monthly Principal and Collateral Monthly Principal for such subsequent Distribution Date.

                        "Early Amortization Period" shall
mean the period commencing at the close of business on the Business Day immediately preceding the day on which a Pay Out Event with respect to Series 2001-2 is deemed to have occurred and ending on the first to occur of (i) the payment in full to
the Class A Certificateholders and the Class B Certificateholders of the Class A Invested Amount and the Class B Invested Amount, respectively, and the payment in full to the Collateral Interest Holder of the Collateral Invested Amount, if any, or
(ii) the Termination Date.

                        "Excess Shared Principal
Collections" shall mean the excess of the Shared Principal Collections over the aggregate amount of Principal Shortfalls for all Series, as defined in each related Supplement, which are Principal Sharing Series for such Distribution
Date.

                        "Excess Spread" shall mean, with
respect to any Distribution Date, the sum of the amounts, if any, specified pursuant to Sections 4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution Date.

                        "Expected Final Payment Date"
shall mean the March 2006 Distribution Date.

                        "Expected Monthly Principal"
shall be equal to the product of (i) the lowest of the monthly principal payment rates (determined by dividing Collections of Principal Receivables during a calendar month by the amount of Principal Receivables in the Trust as of the last day of the
preceding month, adjusted for additions and removals occurring after such last day), expressed as a decimal for the 12 calendar months preceding the date of such calculation (or such lower principal payment rate as the Servicer may select) and (ii)
the sum of the Initial Invested Amounts (as defined in the related Supplement) of all outstanding Series, other than Variable Funding Series.

                        "Finance Charge Shortfall" shall
have the meaning specified in Section 4.09.

                        "Fixed Amount" shall mean, for
any Distribution Date, an amount equal to the fixed amount payable by the Trust to the Swap Counterparty for such date pursuant to the Interest Rate Swap.

                        "Floating Allocation Percentage"
shall mean, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Adjusted Invested Amount as of the last day of the preceding Monthly Period (or, with
respect to the first Monthly Period, the Initial Invested Amount) and the denominator of which is the sum of (i) the total amount of Principal Receivables in the Trust as of such day (or, with respect to the first Monthly Period, the Cut-Off Date)
and (ii) the principal amount on deposit in the Excess Funding Account as of such last day; provided, however, that the amount calculated above pursuant to clause (i) of the denominator shall be increased by the aggregate amount of
Principal Receivables in Additional Accounts added to the Trust during such Monthly Period as though such Receivables had been added to the Trust as of the first day
of such Monthly Period and decreased by the aggregate amount of Principal Receivables removed from the Trust during such Monthly Period as though such Receivables had been removed from the Trust as of the first day of such Monthly Period.

                        "Floating Amount" shall mean, for
any Distribution Date, an amount equal to the floating amount payable by the Swap Counterparty to the Trust for such date pursuant to the Interest Rate Swap.

                        "Group One" shall mean Series
2001-2 and each other series specified in the related Supplement to be included in Group One.

                        "Initial Invested Amount" shall
mean the sum of the Class A Initial Invested Amount, the Class B Initial Invested Amount and the Collateral Initial Invested Amount.

                        "Initial Servicing Fee" shall
have the meaning specified in Section 3.01.

                        "Interest Payment Date" shall
mean, with respect to the Class A Certificates, the Class B Certificates and the Collateral Interest, the 15th day of each month (or, if such day is not a Business Day, the next succeeding Business Day), commencing on the June 2001 Distribution
Date.

                        "Interest Period" shall mean 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 first Payment Date, from and including the Closing Date) to but excluding such Payment Date.

                        "Interest Rate Swap" shall mean
the ISDA Master Agreement, together with the Schedule and Confirmation thereto, each dated as of the Closing Date, between the Trustee, on behalf of the Trust, and the Swap Counterparty, as such Interest Rate Swap may be amended, modified or
replaced.

                        "Invested Amount" shall mean, as
of any date of determination, an amount equal to the sum of (a) the Class A Invested Amount as of such date, (b) the Class B Invested Amount as of such date and (c) the Collateral Invested Amount as of such date.

                        "Investment Letter" shall have
the meaning specified in subsection 10.07(a).

                        "Investor Charge-Offs" shall mean
Class A Investor Charge-Offs and Class B Investor Charge-Offs.

                        "Investor Default Amount" shall
mean, with respect to any Distribution Date, an amount equal to the product of (a) the Defaulted Amount for the related Monthly Period and (b) the Floating Allocation Percentage for such Monthly Period.

                        "LIBOR" shall mean, as of any
LIBOR Determination Date, the rate for deposits in United States dollars for a one-month period which appears on Telerate Page 3750 as of 11:00 a.m., London time, on such date. If such rate does not appear on Telerate Page 3750, the rate for
that 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 one-month 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 such quotations are provided, the rate for that LIBOR Determination Date shall be the arithmetic mean of the quotations. If fewer than two 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 one-month period; provided, however, that if the banks selected as aforesaid by the Servicer are not quoting as mentioned, the rate for that day shall be the rate then in effect
on such LIBOR Determination Date.

                        "LIBOR Determination Date" shall
mean, for any Interest Period, the second London Business Day prior to the commencement of such Interest Period (or, in the case of the initial Interest Period, the second London Business Day prior to the Closing Date).

                        "London Business Day" shall mean
a day on which dealings in deposits in United States dollars are transacted in the London interbank market.

                        "Monthly Interest" means, with
respect to any Distribution Date, the Class A Monthly Interest, the Class B Monthly Interest, Collateral Minimum Monthly Interest and the Net Swap Payment, if any, each for such Distribution Date.

                        "Monthly Servicing Fee" shall
have the meaning specified in Section 3.01.

                        "Net Servicing Fee Rate" shall
mean (i) so long as a Seller or The Bank of New York is the Servicer, 1.25% per annum and (ii) if a Seller or The Bank of New York is no longer the Servicer, 2.00% per annum.

                        "Net Swap Payment" shall mean,
for any Distribution Date, (a) if the netting provisions of subsection 2(c)(ii) of the Interest Rate Swap apply, the amount by which the Fixed Amount for such date exceeds the Floating Amount for such date, and (b) otherwise, an amount equal to the
Fixed Amount for such date.

                        "Net Swap Receipt" shall mean,
for any Distribution Date, (a) if the netting provisions of subsection 2(c)(ii) of the Interest Rate Swap apply, the amount by which the Floating Amount for such date exceeds the Fixed Amount for such date, and (b) otherwise, an amount equal to the
Floating Amount for such date.

                        "Nonvariable Accumulation Series"
shall mean each outstanding Series that is not a Variable Funding Series or a Variable Accumulation Series.

                        "Payment Date" shall mean any
Interest Payment Date and any Special Payment Date.

                        "Permitted Assignee" shall mean
any Person who, if it were the Collateral Interest Holder or holder of an interest in the Trust, as applicable, would not cause the Trust to be taxable as a publicly traded partnership for federal income tax purposes.

                        "Portfolio Adjusted Yield" shall
mean, with respect to any Distribution Date, the average of the percentages obtained for each of the three preceding Monthly Periods by subtracting the Base Rate for each such Monthly Period from the Portfolio Yield for each such Monthly Period, and
deducting 0.50% from the result for each such Monthly Period.

                        "Portfolio Yield" shall mean,
with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is equal to (a) an amount equal to the product obtained by multiplying the Floating Allocation Percentage with respect to such Monthly
Period and the amount of Collections of Finance Charge Receivables with respect to such Monthly Period (including any investment earnings and certain other amounts that are to be treated as Collections of Finance Charge Receivables in accordance
with the Agreement) calculated on a billed basis, or, in the case of any such Collections consisting of annual membership fees, on an amortized (rather than billed) basis, plus (b) the amount of any Principal Funding Investment Proceeds for
the related Distribution Date, plus (c) any Excess Finance Charges that are allocated to Series 2001-2 with respect to such Monthly Period, plus (d) the amount of funds, if any, withdrawn from the Reserve Account which, pursuant to
Section 4.11(d), are required to be included as Class A Available Funds or Class B Available Funds or paid to the Collateral Interest Holder for the Distribution Date with respect to such Monthly Period, minus (e) the Investor Default Amount
for the Distribution Date with respect to such Monthly Period, and the denominator of which is the Invested Amount as of the last day of the preceding Monthly Period; provided, however, that for the first Monthly Period, the
denominator is the Initial Invested Amount.

                        "Principal Allocation Percentage"
shall mean, with respect to any day during a 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 Invested Amount as of the last day of the
immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Cut-Off Date) and (b) after the end of the Revolving Period, the Invested Amount as of the last day of the Revolving Period and the denominator of which is the
greater of (i) the sum of the total amount of Principal Receivables in the Trust as of the last day of the immediately preceding Monthly Period and the principal amount on deposit in the Excess Funding Account as of such last day (or, in the case of
the first Monthly Period, the Cut-Off Date) and (ii) the sum of the numerators used to calculate the principal allocation percentages for all Series outstanding as of the date as to which such determination is being made; provided,
however, that the amount calculated above pursuant to clause (i) of the denominator shall be increased by the aggregate amount of Principal Receivables in Additional Accounts added to the Trust during such Monthly Period as though such
Receivables had been added to the Trust as of the first day of such Monthly Period; provided further, however, that if after the commencement of the Accumulation Period or the Early Amortization Period a Pay Out Event occurs with
respect to another Series that was designated in the Supplement therefor as a Series that is a "Paired Series" with respect to Series 2001-2, the Sellers may, by written notice delivered to the Trustee and the Servicer, designate a
different numerator for the foregoing fraction, provided that (x) such numerator is
not less than the Adjusted Invested Amount as of the last day of the revolving period for such Paired Series and (y) the Sellers shall have received written notice from each Rating Agency that such designation will not have a Ratings Effect and
shall have delivered copies of each such written notice to the Servicer and the Trustee and the Sellers shall have delivered to the Trustee an Officer's Certificate to the effect that, based on the facts known to such officer at that time, in the
reasonable belief of the Sellers, such designation will not cause a Pay Out Event or an event that, after the giving of notice or the lapse of time, would constitute a Pay Out Event, to occur with respect to Series 2001-2.

                        "Principal Funding Account" shall
have the meaning set forth in Section 4.03(d)(i).

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

                        "Principal Funding Investment
Proceeds" shall have the meaning specified in Section 4.03(d)(ii).

                        "Principal Shortfall" shall have
the meaning specified in Section 4.10.

                        "Prospectus" shall mean the
prospectus and the prospectus supplement as filed with the Securities and Exchange Commission under Rule 424(b) of the Securities Act relating to the Series 2001-2 Certificates.

                        "Reallocated Principal
Collections" shall mean, with respect to any Monthly Period, the product of (a) the Principal Allocation Percentage with respect to such Monthly Period, (b) the aggregate amount of Collections in respect of Principal Receivables deposited
in the Collection Account for such Monthly Period and (c) the sum of the Class B Floating Percentage and the Collateral Floating Percentage with respect to such Monthly Period.

                        "Reassignment Amount" shall mean,
with respect to any Distribution Date, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date, the sum of (i) the Adjusted Invested Amount on such Distribution Date, plus (ii) Monthly Interest for
such Distribution Date and any Monthly Interest previously due but not distributed to the Series 2001-2 Certificateholders and the Collateral Interest Holder on a prior Distribution Date, plus (iii) the amount of Additional Interest, if any,
for such Distribution Date and any Additional Interest previously due but not distributed to the Series 2001-2 Certificateholders and the Collateral Interest Holder on a prior Distribution Date, plus (iv) any previously due but not paid Net
Swap Payments.

                        "Reference Banks" shall mean four
major banks in the London interbank market selected by the Servicer.

                        "Required Reserve Account Amount"
shall mean, with respect to any Distribution Date prior to the Reserve Account Funding Date, $0, and on or after the Reserve Account
Funding Date, an amount equal to (a) 0.50% of the Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date), or (b) any other amount designated by the Sellers, provided that, if such designation
is of a lesser amount, the Sellers (i) shall have received written notice from each Rating Agency that such designation will not have a Ratings Effect and shall have delivered copies of each such written notice to the Servicer and the Trustee, and
(ii) shall have delivered to the Trustee a certificate of an authorized officer to the effect that, based on the facts known to such officer at such time, in the reasonable belief of the Sellers, such designation will not cause a Pay Out Event or an
event that, after the giving of notice or the lapse of time, would cause a Pay Out Event, to occur with respect to Series 2001-2.

                        "Reserve Account" shall have the
meaning specified in Section 4.11(a).

                        "Reserve Account Funding Date"
shall mean the Distribution Date with respect to the Monthly Period which commences 12 months prior to the Monthly Period which as of the related Determination Date is scheduled to commence the Accumulation Period in accordance with Section 4.03(f)
provided that the Sellers may delay the Reserve Account Funding Date to the Distribution Date with respect to the Monthly Period which occurs not later than the number of months prior to the scheduled commencement date of the Accumulation Period
determined in accordance with the following schedule:

	
Portfolio Adjusted Yield

	
Number of Months

(rounded up to nearest whole number)

	
Less than 2%

	
12 

	
2% or more, but less than 3%

	
 6 

	
3% or more, but less than 4%

	
 4 

	
4% or more

	
 3 

                        "Reserve Account Surplus" shall
mean, as of any date of determination, the amount, if any, by which the amount on deposit in the Reserve Account exceeds the Required Reserve Account Amount.

                        "Reserve Draw Amount" shall have
the meaning specified in Section 4.11(c).

                        "Revolving Period" shall mean the
period beginning at the close of business on the Cut-Off Date and ending on the earlier of (a) the close of business on the day the Accumulation Period commences and (b) the close of business on the day the Early Amortization Period
commences.

                        "Series 2001-2" shall mean the
Series of Investor Certificates, the terms of which are specified in this Supplement, and shall include the Class A Certificates, the Class B Certificates and the Collateral Interest.

                        "Series 2001-2 Certificateholder"
shall mean a Class A Certificateholder or a Class B Certificateholder.

                        "Series 2001-2 Certificate" shall
mean a Class A Certificate or a Class B Certificate.

                        "Series 2001-2 Holder" shall mean
a Class A Certificateholder, a Class B Certificateholder or a Collateral Interest Holder.

                        "Series 2001-2 Interests" shall
mean the Class A Certificates, the Class B Certificates and the Collateral Interest.

                        "Servicer Interchange" shall
mean, for any Monthly Period, the product of (a) the Floating Allocation Percentage for such Monthly Period and (b) the portion of Collections of Finance Charge Receivables allocated to the Series 2001-2 Certificates and the Collateral Interest with
respect to such Monthly Period that is attributable to Interchange; provided, however, that Servicer Interchange for a Monthly Period shall not exceed one-twelfth of the product of (i) the Servicing Base Amount as of the last day of
such Monthly Period and (ii) 0.75%.

                        "Servicing Base Amount" shall
have the meaning specified in Section 3.01.

                        "Servicing Fee Rate" shall mean
2.00%.

                        "Special Payment Date" shall mean
each Distribution Date with respect to the Early Amortization Period.

                        "Swap Counterparty" shall mean
Deutsche Bank Aktiengesellschaft, acting through its New York Branch, and any of its successors or transferees under the Interest Rate Swap.

                        "Swap Fixed Rate" shall mean, for
any applicable Interest Period, the fixed rate specified in the Interest Rate Swap.

                        "Swap Floating Rate" shall mean,
for any applicable Interest Period, the floating rate specified in the Interest Rate Swap.

                        "Telerate Page 3750" shall mean
the display page currently so designated on the Bridge Telerate Market Report (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices).

                        "Termination Date" shall mean the
January 2009 Distribution Date.

                        "Transfer" shall have the meaning
specified in subsection 10.07(a).

                        "Transfer Agreement" shall mean
the Transfer and Administration Agreement, dated as of May 2, 2001, among Capital One Bank, as transferor and administrator, Capital One, F.S.B., as transferor, and Capital One Secured Note Trust 2001-2, as amended or modified from time to time,
relating to the transfer of the Collateral Interest.

  

                        "Variable Accumulation Series"
shall mean each outstanding Series, other than any Variable Funding Series, for which, pursuant to the terms of the related Supplement, at the time a determination is made pursuant to Section 4.03(f), the commencement date of the Accumulation Period
may be changed.

                        "Variable Funding Series" shall
mean any Series designated in the related Supplement as a Variable Funding Series.

                        (b)       
  Notwithstanding anything to the contrary in this Supplement or the Agreement, the term "Rating Agency" shall mean, whenever used in this Supplement or the Agreement with respect to Series 2001-2, Moody's and Standard & Poor's
and Fitch. As used in this Supplement and in the Agreement with respect to Series 2001-2, "highest investment ratings category" shall mean (i) in the case of Standard & Poor's, A-1+, AAA, AAAm or AAAm-G, as applicable, (ii) in the case
of Moody's, P-1 or Aaa, as applicable and (iii) in the case of Fitch, if rated by Fitch, F1+ or AAA, as applicable.

                        (c)       
  Notwithstanding any provision of the Agreement or this Supplement, the term "Paying Agent" when used in the Agreement or this Supplement with respect to Series 2001-2, shall mean, the Paying Agent specified pursuant to the
Agreement, and any successor paying agents with respect to the Class A Certificates, the Class B Certificates and the Collateral Interest as the Sellers may appoint from time to time in accordance with the provisions of the Pooling and Servicing
Agreement.

                        (d)       
  All capitalized terms used herein and not otherwise defined herein have the meanings ascribed to them in the Agreement. 

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

                     

Section 2.02.     Amendment to Section 2.08 of the Agreement. Section 2.08(c)(i) of the Agreement is hereby amended and restated in its entirety to read as follows:

	 	            (c)         Automatic Additional Accounts. (i) Each Seller may
from time to time, at its sole discretion, subject to and in compliance with the limitations specified in clause (ii) below and the applicable conditions specified in paragraph (d) below, designate Eligible Accounts to be included as Accounts as of
the applicable Additional Cut-Off Date. For purposes of this paragraph, Eligible Accounts shall be deemed to include only consumer revolving credit card accounts or other consumer revolving credit accounts which (x) are originated by such Seller or
any Affiliate of such Seller, (y) are of a type included as Initial Accounts or which have previously been included in any Addition which has been effected in accordance with all of the conditions specified in paragraph (d) below and (z) have a
designation other than "Associate 20," "Associate 21," "Associate 42," "Associate 45," "Associate 46," "Associate 54," "Associate 55," "Associate 77," "Associate
79," "Associate 87," "Associate 91," "Associate 100,"

	 	"Associate 101," "Associate 102," "Associate 103," "Associate 104," "Associate 105," "Associate 106," "Associate
107," "Associate 108," "Associate 109," "Associate 120" "Associate 121," "Associate 122," "Associate 123," "Associate 195," "Associate 196," "Associate
197," "Associate 198," "Associate 199," "Associate 289," "Associate 290," "Associate 291," "Associate 292," "Associate 293," "Associate 294," "Associate
295," "Associate 296," "Associate 297," "Associate 298," "Associate 299," "Associate 302," "Associate 303," "Associate 308," "Associate 309," "Associate
310," "Associate 311" "Associate 312," "Associate 313," "Associate 314," "Associate 332," "Associate 333," "Associate 336," "Associate 337," "Associate
407," "Associate 408," "Associate 409," "Associate 410," "Associate 411," "Associate 412," "Associate 413," "Associate 414," "Associate 415," "Associate
416," "Associate 417," "Associate 432,""Associate 433," "Associate 439," "Associate 440," "Associate 570," "Associate 571," "Associate 572," "Associate
573," "Associate 574," "Associate 575," "Associate 576," "Associate 577," "Associate 578," "Associate 579," "Associate 770," "Associate 771," "Associate
772," "Associate 773," "Associate 774," "Associate 775," "Associate 776," "Associate 777," "Associate 778" or "Associate 779" marketing programs in such Seller's credit card
master file.

ARTICLE III

 Servicer and Trustee 

                        

Section 3.01.     Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-2 Certificateholders and the Collateral Interest Holder with
respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the Adjusted Invested Amount, if any, as of the last day of the Monthly Period preceding such
Distribution Date (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); provided, however, with respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial
Servicing Fee") shall be equal to $1,933,333.33. On each Distribution Date, but only if a Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection
Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the
Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A
Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class
A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class A Servicing Fee shall be equal to $981,770.83. The share of the
Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal
to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee
shall be equal to $120,833.33. The share of the Monthly Servicing Fee allocable to the
Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to such Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of
(c) the Collateral Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to $105,729.17.
The remainder of the Servicing Fee shall be paid by the Sellers or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-2 Certificateholders or the Collateral
Interest Holder be liable for the share of the Servicing Fee to be paid by the Sellers or the Certificateholders of any other Series. The (i) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for
distribution in respect thereof pursuant to Section 4.05(a)(ii), 4.07(a) or 4.08(a); (ii) Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(b)(iii), 4.07(c)
or 4.08(b); and (iii) Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(c)(i) or 4.07(f).

ARTICLE IV

 Rights of Series 2001-2 Certificateholders and

Collateral Interest Holder and

Allocation and Application of Collections 

                  

Section 4.01.    Collections and Allocations. The Servicer will apply, or will instruct the Trustee to apply, all Collections and other funds on deposit in the Collection Account that are allocated to the Series 2001-2
Certificates and the Collateral Interest as described in this Article IV.

                        

Section 4.02.   Determination of Monthly Interest.

                        (a)       
  The amount of monthly interest ("Class A Monthly Interest") distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to the product of (i) a fraction, the
numerator of which is the actual number of days in the period from and including the preceding Distribution Date to but excluding such Distribution Date and the denominator of which is 360, (ii) the Class A Certificate Rate for the related Interest
Period and (iii) the outstanding principal balance of the Class A Certificates as of the preceding Record Date; provided, however, that, with respect to the first Distribution Date, Class A Monthly Interest shall be
$5,448,895.83.

                        On the Determination Date preceding each Payment
Date, the Servicer shall determine the excess, if any (the "Class A Interest Shortfall"), of (x) the Class A Monthly Interest for the Interest Period applicable to such Payment Date over (y) the aggregate amount of funds 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, an additional amount ("Class A Additional Interest") equal to the product of
(i) a fraction, the numerator of which is the actual number of days in the period from and including the preceding Distribution Date to but excluding such Distribution Date and the denominator of which is 360, (ii) the Class A Penalty Rate and (iii)
such Class A Interest Shortfall (or the portion thereof which has not
been paid to Class A Certificateholders) shall be payable as provided herein with respect to the Class A Certificates on each Distribution Date following such Payment Date to and including the Payment Date on which such Class A Interest Shortfall is
paid to Class A Certificateholders. Notwithstanding anything to the contrary herein, Class A Additional Interest shall be payable or distributed to Class A Certificateholders 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 Certificates on any Distribution Date shall be an amount equal to the product of (i) a fraction,
the numerator of which is the actual number of days in the period from and including the preceding Distribution Date to but excluding such Distribution Date and the denominator of which is 360, (ii) the Class B Certificate Rate for the related
Interest Period and (iii) the outstanding principal balance of the Class B Certificates as of the preceding Record Date; provided, however, that, with respect to the first Distribution Date, Class B Monthly Interest shall be
$708,766.67.

                        On the Determination Date preceding each Payment
Date, the Servicer shall determine the excess, if any (the "Class B Interest Shortfall"), of (x) the Class B Monthly Interest for the Interest Period applicable to such Payment Date over (y) the aggregate amount of funds 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, an additional amount ("Class B Additional Interest") equal to the product of
(i) a fraction, the numerator of which is the actual number of days from and including the preceding Distribution Date to but excluding such Distribution Date and the denominator of which is 360, (ii) the Class B Penalty Rate and (iii) such
Class B Interest Shortfall (or the portion thereof which has not been paid to Class B Certificateholders) shall be payable as provided herein with respect to the Class B Certificates on each Distribution Date following such Payment Date to and
including the Payment Date on which such Class B Interest Shortfall is paid to Class B Certificateholders. Notwithstanding anything to the contrary herein, Class B Additional Interest shall be payable or distributed to Class B Certificateholders
only to the extent permitted by applicable law.

                        (c)       
  The amount of monthly interest ("Collateral Minimum Monthly Interest") distributable from the Collection Account with respect to the Collateral Interest on any Distribution Date shall be an amount equal to the product of (i)
the Collateral Interest Minimum Rate in effect for the related Interest Period, (ii) a fraction, the numerator of which is the actual number of days from and including the preceding Distribution Date to but excluding such Distribution Date and the
denominator of which is 360 and (iii) the outstanding principal balance of the Collateral Interest as of the preceding Record Date; provided, however, that, with respect to the first Distribution Date, Collateral Minimum Monthly
Interest shall be equal to the interest accrued on the Collateral Initial Invested Amount at the Collateral Interest Minimum Rate for the period from the Closing Date to but excluding the initial Distribution Date.

                        On the Determination Date preceding each
Distribution Date, the Servicer shall determine the excess, if any (the "Collateral Interest Shortfall"), of (x) the Collateral Minimum Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and
available to pay such Collateral Minimum Monthly Interest on such Distribution Date. If the Collateral Interest Shortfall for any Distribution Date is greater than zero, an additional amount ("Collateral Additional Interest") equal to the
product of (i) a fraction, the numerator of which is
the actual number of days from and including the preceding Distribution Date to but excluding such Distribution Date and the denominator of which is 360, (ii) the Collateral Interest Minimum Rate in effect for the related Interest Period and (iii)
such Collateral Interest Shortfall (or the portion thereof which has not been paid to the Collateral Interest Holder) shall be payable as provided herein with respect to the Collateral Interest on each Distribution Date following such Distribution
Date to and including the Distribution Date on which such Collateral Interest Shortfall is paid to the Collateral Interest Holder. Notwithstanding anything to the contrary herein, Collateral Additional Interest shall be payable or distributed to the
Collateral Interest Holder only to the extent permitted by applicable law.

                        

Section 4.03.     Determination of Monthly Principal; Series 2001-2 Accounts.

                        (a)       
  The amount of monthly principal ("Class A Monthly Principal") distributable from the Collection Account with respect to the Class A Certificates on each Distribution Date,
beginning with the first to occur of (i) the first Special Payment Date, if any, and (ii) the first Distribution Date with respect to the Accumulation Period, shall be equal to the least of (x) the Available Investor Principal Collections on deposit
in the Collection Account with respect to such Distribution Date, (y) for each Distribution Date with respect to the Accumulation Period (and on or prior to the Expected Final Payment Date), the Controlled Deposit Amount for such Distribution Date
and (z) the Class A Adjusted Invested Amount on such Distribution Date.

                        (b)       
  The amount of monthly principal ("Class B Monthly Principal") distributable from the Collection Account with respect to the Class B Certificates on each Distribution Date, beginning with the first to occur of (i) the first Special
Payment Date, if any, on which the Class A Invested Amount is paid in full, and (ii) the first Distribution Date with respect to the Accumulation Period on which the Principal Funding Account Balance is at least equal to the Class A Invested Amount,
shall be equal to the least of (x) the Available Investor Principal Collections on deposit in the Collection Account with respect to such Distribution Date (minus the portion of such Available Investor Principal Collections applied to Class A
Monthly Principal with respect to such Distribution Date), (y) for each Distribution Date with respect to the Accumulation Period, the Controlled Deposit Amount for such Distribution Date (minus the Class A Monthly Principal with respect to such
Distribution Date) and (z) the Class B Adjusted Invested Amount on such Distribution Date.

                        (c)       
  The amount of monthly principal ("Collateral Monthly Principal") distributable from the Collection Account with respect to the Collateral Interest on each Distribution Date, beginning with the first to occur of (i) the first Special
Payment Date, if any, on which the Class B Invested Amount is paid in full, and (ii) the first Distribution Date with respect to the Accumulation Period on which the Principal Funding Account Balance is at least equal to the sum of the Class A
Invested Amount and the Class B Invested Amount, shall be equal to the least of (x) the Available Investor Principal Collections on deposit in the Collection Account with respect to such Distribution Date (minus the portion of such Available
Investor Principal Collections applied to Class A Monthly Principal and Class B Monthly Principal with respect to such Distribution Date), (y) for each Distribution Date with respect to the Accumulation Period, the Controlled Deposit Amount for such
Distribution Date (minus the
Class A Monthly Principal and Class B Monthly Principal with respect to such Distribution Date) and (z) the Collateral Adjusted Invested Amount on such Distribution Date.

	 	            (d)     (i) The Servicer, for the benefit of the Series 2001-2 Holders, shall establish
and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the "Principal Funding Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of Series
2001-2 Holders. The Principal Funding Account shall initially be established with The Bank of New York.
	 	 
	 	            (ii)     At the direction of the Servicer, funds on deposit in the Principal Funding
Account shall be invested by the Trustee in Eligible Investments selected by the Servicer. All such Eligible Investments shall be held by the Trustee for the benefit of the Series 2001-2 Holders; provided that on each Distribution Date all
interest and other investment income (net of losses and investment expenses) ("Principal Funding Investment Proceeds") on funds on deposit therein shall be applied as set forth in paragraph (iii) below. Funds on deposit in the Principal
Funding Account shall be invested in Eligible Investments that will mature so that such funds will be available at the close of business on the Transfer Date preceding the following Distribution Date. The Trustee shall (i) hold each Eligible
Investment that constitutes investment property through a securities intermediary, which securities intermediary shall agree with the Trustee that (A) such investment property shall at all times be credited to a securities account of the Trustee,
(B) such securities intermediary shall treat the Trustee as entitled to exercise the rights that comprise each financial asset credited to such securities account, (C) all property credited to such securities account shall be treated as a financial
asset, (D) such securities intermediary shall comply with entitlement orders originated by the Trustee without the further consent of any other person or entity, (E) such securities intermediary shall not agree with any person or entity other than
the Trustee to comply with entitlement orders originated by such other person or entity, (F) such securities intermediary waives any lien on, security interest in, or right of set-off with respect to any property credited to such securities account,
and (G) such agreement shall be governed by the laws of the State of New York; and (ii) maintain possession of each other Eligible Investment not described in clause (i) above in the State of New York. Terms used in clause (i) above that are defined
in the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. No Eligible Investment shall be disposed of prior to its maturity. Unless the Servicer directs otherwise, funds deposited in the Principal
Funding Account on a Transfer Date (which immediately precedes a Payment Date) upon the maturity of any Eligible Investments are not required to be invested overnight.
	 	 
	 	        (iii)     On each Distribution Date with respect to the Accumulation Period, the Servicer shall direct the
Trustee to withdraw from the Principal Funding Account and deposit into the Collection Account all Principal Funding Investment Proceeds then on deposit in the Principal Funding Account and such Principal Funding Investment

	 	Proceeds shall be treated as a portion of Class A Available Funds, Class B Available Funds and Collateral Available Funds.
	 	 
	 	            (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 Supplement.
	 	 
	 	            (e)     (i)     The Trustee shall possess all right, title and
interest in all funds on deposit from time to time in the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 2001-2 Holders.
If, at any time, the Principal Funding Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency
may consent) establish a new Principal Funding Account meeting the conditions specified in paragraph (d)(i) above as an Eligible Deposit Account and shall transfer any cash and/or any investments to such new Principal Funding Account.
	 	 
	 	            (ii)     Pursuant to the authority granted to the Servicer in Section 3.01(b) of the
Agreement, the Servicer shall have the power, revocable by the Trustee, to make withdrawals and payments or to instruct the Trustee to make withdrawals and payments from the Principal Funding Account for the purposes of carrying out the Servicer's
or Trustee's duties hereunder. Pursuant to the authority granted to the Paying Agent in Section 5.01 of this Supplement and Section 6.07 of the Agreement, the Paying Agent shall have the power, revocable by the Trustee, to withdraw funds from the
Principal Funding Account for the purpose of making distributions to the Series 2001-2 Holders.

                    (f)         The Accumulation
Period is scheduled to commence at the close of business on the last day of the February 2005 Monthly Period; provided, however, that if the Accumulation Period Length on any Determination Date (determined as described below) is less
than twelve (12) months, upon notice to the Trustee, the Sellers and each Rating Agency, the Servicer, at its option, may elect to modify the date on which the Accumulation Period actually commences to the last Business Day of any month that
precedes the month that is the number of months prior to the Expected Final Payment Date equal to the Accumulation Period Length; provided, however, that (i) the length of the Accumulation Period will not be less than one month; and
(ii) notwithstanding any other provision of this Supplement to the contrary, no election to postpone the commencement of the Accumulation Period shall be made after a Pay Out Event (as defined in the related Supplement) shall have occurred and is
continuing with respect to any other Series. On each Determination Date, the Servicer will determine the "Accumulation Period Length" which will equal the number of months such that the Accumulation Period Amount for the Monthly Period
immediately preceding the Expected Final Payment Date, when aggregated with the Accumulation Period Amounts for each preceding Monthly Period, will equal or exceed the Initial Invested Amount. Any notice by the Servicer electing to modify the
commencement of the Accumulation Period pursuant to this subsection (f) shall specify (i) the Accumulation Period Length, (ii) the commencement date of the
Accumulation Period and (iii) the Controlled Accumulation Amount with respect to each Monthly Period during the Accumulation Period.

                    

Section 4.04.     Required Amount. 

                    (a)         With respect to each
Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Class A Required Amount"), if any, by which (x) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A
Outstanding Monthly Interest, (iii) any Class A Additional Interest for such Distribution Date and any Class A Outstanding Additional Interest, (iv) the Class A Servicing Fee for such Distribution Date, (v) any Class A Servicing Fee previously due
but not paid to the Servicer, (vi) the Class A Investor Default Amount, if any, for such Distribution Date, (vii) the Net Swap Payment, if any, for such Distribution Date and (viii) the Net Swap Payments, if any, due but not paid on any prior
Distribution Date exceeds (y) the Class A Available Funds. In the event that the Class A Required Amount for such Distribution Date is greater than zero, the Servicer shall give written notice to the Trustee of such positive Class A Required Amount
on the date of computation and all or a portion of the Excess Spread and the Excess Finance Charges allocable to Series 2001-2 with respect to the related Monthly Period in an amount equal to the Class A Required Amount for such Distribution Date
shall be distributed from the Collection Account on such Distribution Date pursuant to Section 4.07(a). In the event that the Class A Required Amount for such Distribution Date exceeds the amount of Excess Spread and the amount of Excess Finance
Charges allocable to Series 2001-2 with respect to the related Monthly Period, all or a portion of the Reallocated Principal Collections with respect to such Monthly Period in an amount equal to such excess shall be distributed from the Collection
Account on such Distribution Date pursuant to Section 4.08(a).

                    (b)         With respect to each
Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the "Class B Required Amount") equal to the sum of (x) the amount, if any, by which (A) the sum of (i) Class B Monthly Interest for such
Distribution Date, (ii) any Class B Outstanding Monthly Interest, (iii) any Class B Additional Interest for such Distribution Date and any Class B Outstanding Additional Interest, (iv) the Class B Servicing Fee for such Distribution Date and (v) any
Class B Servicing Fee previously due but not paid to the Servicer exceeds (B) the Class B Available Funds and (y) the Class B Investor Default Amount for such Distribution Date. In the event that the Class B Required Amount for such Distribution
Date exceeds the portion of Excess Spread and Excess Finance Charges allocated to Series 2001-2 with respect to such Monthly Period and not used to fund the Class A Required Amount, then a portion of the Reallocated Principal Collections with
respect to such Monthly Period shall be distributed from the Collection Account on such Distribution Date pursuant to Section 4.08(b).

                    

Section 4.05.    Application of Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Investor Principal Collections.  The Servicer shall apply (if a Seller is the Servicer
and the Collection Account is maintained with such Seller) or shall cause the Trustee to apply, on each Distribution Date, Class A Available Funds, Class B Available Funds, Collateral Available Funds, and Available Investor Principal Collections on
deposit in the Collection Account with respect to such Distribution Date to make the following distributions:

 

  

	 	                (a)    On each Distribution Date, an amount equal to the Class A
Available Funds with respect to such Distribution Date will be distributed in the following priority:

	 	            (i)     an amount equal to Class A Monthly Interest for such Distribution Date,
plus the amount of any Class A Outstanding Monthly Interest, plus the amount of any Class A Additional Interest for such Distribution Date and any Class A Outstanding Additional Interest, shall be distributed to the Paying Agent with
respect to the Class A Certificates for payment to the Class A Certificateholders;
	 	 
	 	           (ii)     an amount equal to the Net Swap Payment, if any, for such Distribution Date, plus the
amount of any Net Swap Payments previously due but not paid to the Swap Counterparty shall be distributed to the Swap Counterparty; 
	 	 
	 	           (iii)     an amount equal to the Class A Servicing Fee for such Distribution Date, plus
the amount of any Class A Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer (unless such amount has been netted against deposits to the Collection Account in
accordance with Section 4.03 of the Agreement);
	 	 
	 	           (iv)     an amount equal to the Class A Investor Default Amount for such Distribution Date
shall be treated as a portion of Available Investor Principal Collections for such Distribution Date; and
	 	 
	 	           (v)     the balance, if any, shall constitute Excess Spread and shall be allocated and
distributed as set forth in Section 4.07.

	 	                (b)    On each Distribution Date, an amount equal to the Class B
Available Funds with respect to such Distribution Date will be distributed in the following priority:

	 	           (i)     an amount equal to Class B Monthly Interest for such Distribution Date, plus the
amount of any Class B Outstanding Monthly Interest, plus the amount of any Class B Additional Interest for such Distribution Date and any Class B Outstanding Additional Interest, shall be distributed to the Paying Agent with respect to the
Class B Certificates for payment to the Class B Certificateholders;
	 	 
	 	           (ii)     an amount equal to the Class B Servicing Fee for such Distribution Date, plus
the amount of any Class B Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer (unless such amount has been netted against deposits to the Collection Account in
accordance with Section 4.03 of the Agreement); and
	 	 
	 	           (iii)     the balance, if any, shall constitute Excess Spread and shall be allocated and
distributed as set forth in Section 4.07.

	 	                (c)    On each Distribution Date, an amount equal to the Collateral
Available Funds with respect to such Distribution Date will be distributed in the following priority:

	 	 	      (i)            an amount equal to the Collateral Servicing Fee for such Distribution
Date, plus the amount of any Collateral Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer (unless such amount has been netted against deposits to the Collection
Account in accordance with Section 4.03 of the Agreement); and
	 	 	 
	 	 	      (ii)           the balance, if any, shall constitute Excess Spread and shall be allocated
and distributed as set forth in Section 4.07.
	 	 	 
	 	             (d)            On each Distribution Date
with respect to the Revolving Period, an amount equal to the Available Investor Principal Collections deposited in the Collection Account for the related Monthly Period shall be treated as Shared Principal Collections and applied in accordance with
Section 4.04 of the Agreement.
	 	 	 
	 	             (e)            On each Distribution Date
with respect to the Accumulation Period or the Early Amortization Period, an amount equal to the Available Investor Principal Collections deposited in the Collection Account for the related Monthly Period will be distributed in the following
priority:
	 	 	 
	 	 	      (i)            an amount equal to Class A Monthly Principal for such Distribution
Date, up to the Class A Adjusted Invested Amount on such Distribution Date, shall be deposited in the Principal Funding Account or, if such Distribution Date is a Special Payment Date on which the Principal Funding Account Balance is zero, shall be
distributed to the Paying Agent for payment to the Class A Certificateholders;
	 	 	 
	 	 	      (ii)           after giving effect to paragraph (i) above, an amount equal to Class B
Monthly Principal for such Distribution Date, up to the Class B Adjusted Invested Amount on such Distribution Date, shall be deposited in the Principal Funding Account or, if such Distribution Date is a Special Payment Date on which the Principal
Funding Account Balance is zero, shall be distributed to the Paying Agent for payment to the Class B Certificateholders;
	 	 	 
	 	 	      (iii)          after giving effect to paragraphs (i) and (ii) above, an amount equal to
Collateral Monthly Principal for such Distribution Date, up to the Collateral Adjusted Invested Amount on such Distribution Date, shall be deposited in the Principal Funding Account or, if such Distribution Date is a Special Payment Date on which
the Principal Funding Account Balance is zero, shall be distributed to the Paying Agent for payment to the Collateral Interest Holder; and
	 	 	 
	 	 	      (iv)          for each Distribution Date, after giving effect to paragraphs (i), (ii) and (iii)
above, an amount equal to the balance, if any, of such Available Investor Principal Collections then on deposit in the Collection Account shall be treated as Shared Principal Collections and applied in accordance with Section 4.04 of the
Agreement.

                       

 Section 4.06.     Defaulted Amounts; Investor Charge-Offs.

                        (a)       
  On each Determination Date, the Servicer shall calculate the Class A Investor Default Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class A Required Amount for such Distribution Date exceeds the sum of
(x) the amount of Reallocated Principal Collections with respect to the related Monthly Period and (y) the amount of Excess Spread and the Excess Finance Charges allocable to Series 2001-2 with respect to such Monthly Period, the Collateral Invested
Amount will be reduced by the amount of such excess, but not by more than the excess of the Class A Investor Default Amount for the related Distribution Date over the amount of Reallocated Principal Collections and the amount of Excess Spread
and Excess Finance Charges used to fund the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount will be
reduced to zero and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such
Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date and the amount of Reallocated Principal Collections and the amount of Excess Spread and Excess Finance
Charges used to fund the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Class B Invested Amount to be a negative number, the Class B Invested Amount shall be reduced to zero, and the
Class A Invested Amount shall be reduced by the amount by which the Class B Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over
the aggregate amount of the reductions, if any, of the Collateral Invested Amount and the Class B Invested Amount for such Distribution Date and the amount of Reallocated Principal Collections and the amount of Excess Spread and Excess Finance
Charges used to fund the Class A Investor Default Amount for such Distribution Date (a "Class A Investor Charge-Off"). Class A Investor Charge-Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an
amount in excess of the aggregate unreimbursed Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charges allocated and available for that purpose pursuant to Section 4.07(b).

                        (b)       
  On each Determination Date, the Servicer shall calculate the Class B Required Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class B Required Amount for such Distribution Date exceeds the sum of (x) the
amount of Excess Spread and Excess Finance Charges allocated to Series 2001-2 with respect to the related Monthly Period which are not used to fund the Class A Required Amount and Class A Investor Charge-Offs on the related Distribution Date and (y)
the amount of Reallocated Principal Collections which are available to fund the Class B Required Amount on such Distribution Date pursuant to Section 4.08(b), then the Collateral Invested Amount shall be reduced by the amount of such excess, but not
by more than the excess of the Class B Investor Default Amount for such Distribution Date over the amount of Reallocated Principal Collections and the amount of Excess Spread and Excess Finance Charges used to fund the Class B Investor
Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount shall be reduced to zero, and the Class B Invested Amount shall be reduced
by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class B
Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date and the amount of Reallocated Principal Collections and the amount of
Excess Spread and Excess Finance Charges used to fund the Class B Investor Default Amount for such Distribution Date (a "Class B Investor Charge-Off"). Class B Investor Charge-Offs shall thereafter be reimbursed and the Class B Invested
Amount increased (but not by an amount in excess of the aggregate unreimbursed Class B Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charges allocated and available for that purpose pursuant to
Section 4.07(d).

                        (c)       
  If, on any Distribution Date, Reallocated Principal Collections for the related Monthly Period are applied pursuant to Section 4.08(a) or (b), the Collateral Invested Amount shall be reduced by the amount of such Reallocated Principal
Collections. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount shall be reduced to zero, and the Class B Invested Amount shall be reduced by the amount by which the
Collateral Invested Amount would have been reduced below zero.

                        (d)       
  If, on any Distribution Date, the Collateral Investor Default Amount exceeds the amount of Excess Spread and Excess Finance Charges available to fund the Collateral Investor Default Amount pursuant to Section 4.07(g) on such Distribution
Date, then the Collateral Invested Amount shall be reduced by the amount of such excess; provided, however, that the Collateral Invested Amount shall not be reduced below zero.

                        

Section 4.07.         Excess Spread; Excess Finance Charges. The Servicer shall apply (if the Seller is the Servicer and the Collection Account is maintained with the Seller) or shall cause
the Trustee to apply, on each Distribution Date, Excess Spread and Excess Finance Charges allocated to Series 2001-2 with respect to the related Monthly Period, to make the following distributions in the following priority:

	 	                (a)    an amount equal to the Class A Required Amount, if any, with
respect to such Distribution Date shall be distributed by the Trustee to fund any deficiency pursuant to Sections 4.05(a)(i), (ii), (iii) and (iv); provided that in the event the Class A Required Amount for such Distribution Date exceeds the
amount of Excess Spread and Excess Finance Charges allocated to Series 2001-2, such Excess Spread and Excess Finance Charges shall be applied first to pay amounts due with respect to such Distribution Date pursuant to Section 4.05(a)(i), second to
pay the Net Swap Payment, if any, pursuant to Section 4.05(a)(ii), third to pay the Class A Servicing Fee pursuant to Section 4.05(a)(iii) and fourth to pay the Class A Investor Default Amount for such Distribution Date pursuant to Section
4.05(a)(iv);
	 	 
	 	                (b)    an amount equal to the aggregate amount of Class A Investor
Charge-Offs which have not been previously reimbursed as provided in Section 4.06(a) (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.06(a)) shall be treated as a portion of
Available Investor Principal Collections for such Distribution Date;

	 	                (c)    an amount equal to the Class B Required Amount, if any, with
respect to such Distribution Date shall be distributed by the Trustee (I) to fund any deficiency pursuant to Sections 4.05(b)(i) and (ii) and (II) for application, up to the Class B Investor Default Amount, as a portion of Available Investor
Principal Collections for such Distribution Date; provided that in the event the Class B Required Amount for such Distribution Date exceeds the amount of Excess Spread and Excess Finance Charges allocated to Series 2001-2 and available to pay
such amount pursuant to this clause (c), such Excess Spread and Excess Finance Charges shall be applied first to pay amounts due with respect to such Distribution Date pursuant to Section 4.05(b)(i), second to pay the Class B Servicing Fee pursuant
to Section 4.05(b)(ii) and third as a portion of Available Investor Principal Collections for such Distribution Date pursuant to clause (II) above;
	 	 
	 	                (d)    an amount equal to the aggregate amount by which the Class B
Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition of "Class B Invested Amount" in Section 2.01 of this Supplement (but not in excess of the aggregate amount of such reductions which have not been
previously reimbursed) shall be treated as a portion of Available Investor Principal Collections for such Distribution Date;
	 	 
	 	                (e)    an amount equal to the sum of Collateral Minimum Monthly
Interest for such Distribution Date, plus the amount of any Collateral Outstanding Monthly Interest, plus the amount of any Collateral Additional Interest for such Distribution Date and any Collateral Outstanding Additional Interest
shall be distributed to the Collateral Interest Holder; 
	 	 
	 	                (f)    an amount equal to the Collateral Servicing Fee due but not
paid to the Servicer either on such Distribution Date or a prior Distribution Date shall be paid to the Servicer;
	 	 
	 	                (g)    an amount equal to the Collateral Investor Default Amount for
such Distribution Date shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date;
	 	 
	 	                (h)    an amount equal to the aggregate amount by which the Collateral
Invested Amount has been reduced pursuant to clause (c) of the definition of "Collateral Invested Amount" (but not in excess of the aggregate amount of such reductions which have not been previously reimbursed) shall be treated as a
portion of Available Investor Principal Collections with respect to such Distribution Date;
	 	 
	 	                (i)    on each Distribution Date from and after the Reserve Account
Funding Date, but prior to the date on which the Reserve Account terminates as described in Section 4.11(f), an amount up to the excess, if any, of the Required Reserve Account Amount over the Available Reserve Account Amount shall be
deposited into the Reserve Account; and
	 	 
	 	                (j)    the balance, if any, will be distributed to the Collateral
Interest Holder.

                       

 Section 4.08.     Reallocated Principal Collections. The Servicer shall apply (if a Seller is the Servicer and the Collection Account is maintained with such Seller) or shall cause the Trustee to apply
on each Distribution Date Reallocated Principal Collections (applying all such Collections with respect to the Collateral Invested Amount prior to applying any such Collections with respect to the Class B Invested Amount and applying no such
Collections with respect to the Class B Invested Amount pursuant to clause (b) below) with respect to such Distribution Date, to make the following distributions in the following priority:

	 	                (a)    an amount equal to the excess, if any, of (i) the Class A
Required Amount, if any, with respect to such Distribution Date over (ii) the amount of Excess Spread and Excess Finance Charges allocated to Series 2001-2 with respect to the related Monthly Period, shall be distributed by the Trustee to
fund any deficiency pursuant to Sections 4.05(a)(i), (ii), (iii) and (iv); provided that, in the event the Class A Required Amount for such Distribution Date exceeds the sum of the amount of Excess Spread and Excess Finance Charges allocated
to Series 2001-2 and the amount of Reallocated Principal Collections for the related Monthly Period, such Excess Spread and Excess Finance Charges allocated to Series 2001-2 and Reallocated Principal Collections shall be applied first to pay amounts
due with respect to such Distribution Date pursuant to Section 4.05(a)(i), second to pay the Net Swap Payment, if any, pursuant to Section 4.05(a)(ii), third to pay the Class A Servicing Fee pursuant to Section 4.05(a)(iii) and fourth to pay the
Class A Investor Default Amount for such Distribution Date pursuant to Section 4.05(a)(iv);
	 	 
	 	                (b)    an amount equal to the excess, if any, of (i) the Class B
Required Amount, if any, with respect to such Distribution Date over (ii) the amount of Excess Spread and Excess Finance Charges to be allocated and available to the holders of the Class B Certificates pursuant to Section 4.07(c) on such
Distribution Date, shall be distributed by the Trustee to fund any deficiency pursuant to Sections 4.05(b)(i) and (ii) and Section 4.07(c)(II); provided that, in the event the Class B Required Amount for such Distribution Date exceeds the sum
of the amount of Excess Spread and Excess Finance Charges to be allocated to the holders of the Class B Certificates on such Distribution Date and the amount of Reallocated Principal Collections (other than Reallocated Principal Collections
distributed pursuant to clause (a) above) for the related Monthly Period, such Excess Spread and Excess Finance Charges and such Reallocated Principal Collections shall be applied first to pay the amounts due with respect to such Distribution Date
pursuant to Section 4.05(b)(i), second to pay the Class B Servicing Fee pursuant to Section 4.05(b)(ii) and third to apply any remaining amount as a portion of Available Investor Principal Collections for such Distribution Date pursuant to Section
4.07(c)(II); and
	 	 
	 	                (c)    the balance, if any, of such Reallocated Principal Collections
shall be treated as a portion of Available Investor Principal Collections to be applied in accordance with Sections 4.05(d) and (e). 

                        

Section 4.09.     Excess Finance Charges. Series 2001-2 shall be included in Group One. Subject to Section 4.05 of the Agreement, Excess Finance Charges with respect to the Series in Group One for any
Distribution Date will be allocated to Series 2001-2 in an amount
equal to the product of (x) the aggregate amount of Excess Finance Charges with respect to all the Series in Group One for such Distribution Date and (y) a fraction, the numerator of which is the Finance Charge Shortfall for Series 2001-2 for such
Distribution Date and the denominator of which is the aggregate amount of Finance Charge Shortfalls for all the Series in Group One for such Distribution Date. The amount of Excess Finance Charges for Series 2001-2 for any Distribution Date shall be
specified in subsection 3.02(a)(v) of the Transfer Agreement. On each Distribution Date, the Trustee shall deposit into the Collection Account for application in accordance with Section 4.05 of the Agreement the aggregate amount of "Excess
Finance Charges" received by the Trustee pursuant to the Transfer Agreement on such date. The "Finance Charge Shortfall" for Series 2001-2 for any Distribution Date will be equal to the excess, if any, of (a) the full amount required
to be paid, without duplication, pursuant to Sections 4.05(a), 4.05(b) and 4.05(c) and Sections 4.07(a) through (i) on such Distribution Date over (b) the sum of (i) Class A Available Funds, (ii) Class B Available Funds and (iii) Collateral
Available Funds, each with respect to the related Monthly Period.

                        

Section 4.10.     Shared Principal Collections. Subject to Section 4.04 of the Agreement, Shared
Principal Collections for any Distribution Date will be allocated to Series 2001-2 in an amount equal to the product of (x) the aggregate amount of Shared Principal Collections with respect to all Series for such Distribution Date and (y) a
fraction, the numerator of which is the Principal Shortfall for Series 2001-2 for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all the Series which are Principal Sharing Series for such
Distribution Date. The "Principal Shortfall" for Series 2001-2 will be equal to (a) for any Distribution Date with respect to the Revolving Period, zero, (b) for any Distribution Date with respect to the Accumulation Period, the excess, if
any, of the Controlled Deposit Amount with respect to such Distribution Date, over the amount of Available Investor Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections)
and (c) for any Distribution Date with respect to the Early Amortization Period, the excess, if any, of the Invested Amount over the amount of Available Investor Principal Collections for such Distribution Date (excluding any portion thereof
attributable to Shared Principal Collections). 

                        

Section 4.11.     Reserve Account. 

                        (a)       
  The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 2001-2 Holders, an Eligible Deposit Account (the "Reserve Account") bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the Series 2001-2 Holders and the Swap Counterparty. The Reserve Account shall initially be established with The Bank of New York. The Trustee shall possess all right, title and
interest in all funds on deposit from time to time in the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 2001-2 Holders. If at any time the
Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new
Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash and/or any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the
Reserve Account from time to time in an amount up to the Available Reserve Account
Amount at such time, for the purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the
amount specified in, and otherwise in accordance with, Section 4.07(i).

                        (b)       
  Funds on deposit in the Reserve Account shall be invested at the direction of the Servicer by the Trustee in Eligible Investments. Funds on deposit in the Reserve Account on any Transfer Date, after giving effect to any withdrawals from
the Reserve Account on such Transfer Date, shall be invested in such investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. The Trustee shall (i) hold each Eligible Investment
that constitutes investment property through a securities intermediary, which securities intermediary shall agree with the Trustee that (A) such investment property shall at all times be credited to a securities account of the Trustee, (B) such
securities intermediary shall treat the Trustee as entitled to exercise the rights that comprise each financial asset credited to such securities account, (C) all property credited to such securities account shall be treated as a financial asset,
(D) such securities intermediary shall comply with entitlement orders originated by the Trustee without the further consent of any other person or entity, (E) such securities intermediary shall not agree with any person or entity other than the
Trustee to comply with entitlement orders originated by such other person or entity, (F) such securities intermediary waives any lien on, security interest in, or right of set-off with respect to any property credited to such securities account, and
(G) such agreement shall be governed by the laws of the State of New York; and (ii) maintain possession of each other Eligible Investment not described in clause (i) above in the State of New York. Terms used in clause (i) above that are defined in
the New York UCC and not otherwise defined herein shall have the meaning set forth in the New York UCC. No Eligible Investment shall be disposed of prior to its maturity. On each Distribution Date, all interest and earnings (net of losses and
investment expenses) accrued since the preceding Distribution Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account (to the extent that the Available Reserve Account Amount is less than the Required Reserve Account
Amount) and the balance, if any, shall be deposited in the Collection Account and treated as Collections of Finance Charge Receivables allocable to Series 2001-2. For purposes of determining the availability of funds or the balance in the Reserve
Account for any reason under this Supplement, except as otherwise provided in the preceding sentence, investment earnings on such funds shall be deemed not to be available or on deposit.

                        (c)       
  On the Determination Date preceding each Distribution Date with respect to the Accumulation Period and the first Special Payment Date, the Servicer shall calculate the "Reserve Draw Amount" which shall be equal to the sum of the
excesses, if any, identified in subsections 4.11(d)(i), (ii) and (iii); provided that such amount will be reduced to the extent that funds otherwise would be available for deposit in the Reserve Account under Section 4.07(i) with respect to
such Distribution Date or Special Payment Date.

                        (d)       
  In the event that for any Distribution Date the Reserve Draw Amount is greater than zero, the Reserve Draw Amount, up to the Available Reserve Account Amount, shall be withdrawn from the Reserve Account on the related Distribution Date by the
Trustee

 (acting in accordance with the instructions of the Servicer), deposited into the Collection Account and applied in the following priority:

	 	                (i)          an amount up to the
excess, if any, of (x) an amount equal to that portion of the Covered Amount computed pursuant to clause (a) of the definition of Covered Amount over (y) an amount equal to that portion of the Class A Available Funds computed pursuant to clause (a)
of the definition of Class A Available Funds shall be included as Class A Available Funds; and
	 	 
	 	                (ii)         an amount up to the excess,
if any, of (x) an amount equal to that portion of the Covered Amount computed pursuant to clause (b) of the definition of Covered Amount over (y) an amount equal to that portion of the Class B Available Funds computed pursuant to clause (a) of the
definition of Class B Available Funds shall be treated as Class B Available Funds; and
	 	 
	 	                (iii)        on and after the Distribution
Date on which the Principal Funding Account Balance equals the sum of the Class A Invested Amount and the Class B Invested Amount, an amount up to the excess, if any, of (x) an amount equal to that portion of the Covered Amount computed pursuant to
clause (c) of the definition of Covered Amount over (y) an amount equal to the aggregate amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2001-2 with respect to such Distribution Date or Special Payment Date
available after application in accordance with subsections 4.07(a) through (d) shall be distributed to the Collateral Interest Holder. 
	 	 
	                          (e)  
       In the event that the Reserve Account Surplus on any Distribution Date, after giving effect to all deposits to and withdrawals from the Reserve Account with respect to such Distribution Date, is greater than
zero, the Trustee, acting in accordance with the instructions of the Servicer, shall withdraw from the Reserve Account, and distribute to the Collateral Interest Holder, an amount equal to such Reserve Account Surplus.
	 	 
	                          (f)  
       Upon the earliest to occur of (i) the termination of the Trust pursuant to Article XII of the Agreement, (ii) the day on which the Invested Amount is paid in full to the Class A Certificateholders, the Class B
Certificateholders and the Collateral Interest Holder, (iii) if the Accumulation Period has not commenced, the occurrence of a Pay Out Event with respect to Series 2001-2 and (iv) if the Accumulation Period has commenced, the earlier of the first
Special Payment Date and the Expected Final Payment Date, the Trustee, acting in accordance with the instructions of the Servicer, after the prior payment of all amounts owing to the Series 2001-2 Certificateholders which are payable from the
Reserve Account as provided herein, shall withdraw from the Reserve Account and distribute to the Collateral Interest Holder all amounts, if any, on deposit in the Reserve Account and the Reserve Account shall be deemed to have terminated for
purposes of this Supplement.
	 	 
	                         

 Section 4.12.        Interest Rate Swap.
	 	 
	                          (a)  
       The Trustee, on behalf of the Trust, shall enter into the Interest Rate Swap, certain terms of which are set forth herein for the convenience of the parties thereto for incorporation therein by reference, with
the Swap Counterparty on the Closing Date. Pursuant to the terms of the Interest Rate Swap, the Swap Counterparty shall pay to the Trustee on each

Distribution Date the Net Swap Receipt, if any, plus the amount of any Net Swap Receipt due but not paid with respect to any previous Distribution Date. The Trustee shall deposit such Net Swap Receipts, if any, into the Collection Account and shall
apply such amounts as Class A Available Funds pursuant to subsection 4.05(a). In addition, in accordance with the terms of the Interest Rate Swap, the Trustee shall pay to the Swap Counterparty the Net Swap Payment, if any, for such Distribution
Date, plus the amount of any Net Swap Payment due but not paid on any previous Distribution Date, from amounts applied pursuant to subsection 4.05(a)(ii). If the Interest Rate Swap has not been terminated and the Trustee has not received any Net
Swap Receipt due with respect to the related Distribution Date prior to 10:00 a.m. (New York City time) on the date such payment is due, (i) the Trustee shall notify the Swap Counterparty, the Sellers and the Servicer of such fact prior to 12:00
p.m. (New York City time) on such date and (ii) the Servicer shall provide the Trustee, prior to 4:30 p.m. (New York City time) on the related Distribution Date, with new statements substantially in the forms of Exhibit B and Exhibit C to this
Supplement revised, if necessary, to reflect that the Net Swap Receipt (or any portion thereof) was not received by the Trustee for such Distribution Date. If amounts are not received in accordance with the Interest Rate Swap, the Trustee, if
directed by the Servicer, shall in accordance with such direction designate an Early Termination Date (as such term is defined in the Interest Rate Swap) pursuant to the Interest Rate Swap and shall, if the Servicer so directs, terminate the
Interest Rate Swap pursuant to its terms.

                        (b)       
  In the event of an Early Termination Date or an Event of Default (as such terms are defined in the Interest Rate Swap) and in the event that the Trustee, on behalf of the Trust, is able to calculate Market Quotation (as such term is defined
in the Interest Rate Swap) pursuant to Part 1(f) of the Schedule to the Interest Rate Swap, the Trustee, on behalf of the Trust, shall use its reasonable best efforts to enter into a replacement Interest Rate Swap and any amount received by the
Trustee, on behalf of the Trust, from the replacement Swap Counterparty will be paid to the replaced Swap Counterparty as soon as reasonably practicable following receipt of such amount.

                        (c)       
  Following the termination of the Interest Rate Swap pursuant to the terms thereof, the Swap Counterparty shall pay to the Trustee the amount of the termination payment, if any, to be made by the Swap Counterparty pursuant to Section 6 of the
Interest Rate Swap. The Trustee shall, promptly upon receipt of such termination payment, if any, distribute the amount of such termination payment to the Collateral Interest Holder in accordance with Section 5.01.

                        (d)       
  The Trustee, at the direction of the Servicer, shall direct the Swap Counterparty to assign its rights and obligations under the Interest Rate Swap to a replacement Swap Counterparty in the event that the long-term, senior unsecured debt
rating of the Swap Counterparty is reduced below BBB- by Standard & Poor's or below Baa3 by Moody's or is withdrawn by either Standard & Poor's or Moody's. The Servicer shall give Standard & Poor's and Moody's notice of the replacement
of the Swap Counterparty as soon as practicable thereafter.

                        (e)       
  The parties hereto agree that, except to the extent specifically provided in subsection 4.12(b) above, all obligations of the Trustee on behalf of the Trust under the Interest Rate Swap shall be paid from, and limited to, funds specifically
available therefor pursuant to
subsection 4.05(a)(ii) of this Supplement and that the Trustee shall not be required to expend or risk its own funds or otherwise incur any liability in connection with the Interest Rate Swap.

                        (f)       
  If the Trustee has actual knowledge of any event specified in Section 5 of the Interest Rate Swap, the Trustee shall provide written notice of such event to the Servicer, the Sellers and each Rating Agency. The Sellers, upon becoming aware of
any event specified in Section 5 of the Interest Rate Swap, whether pursuant to notice from the Trustee or otherwise, shall immediately provide the Trustee with written instructions as to the course of action to be taken under Section 6 of the
Interest Rate Swap, including, without limitation, any notices to be provided and whether or not an Early Termination Date (as such term is defined in the Interest Rate Swap) should be designated and, if so, when such Early Termination Date should
be designated. Prior to receiving such written instructions from the Sellers, the Trustee shall not designate an Early Termination Date and shall not terminate the Interest Rate Swap.

                        (g)       
  At the request of the Trustee, the Sellers shall provide the Trustee with any document the Trustee is required to provide the Swap Counterparty pursuant to Section 4(a) of the Interest Rate Swap.

ARTICLE V 

Distributions and Reports to Series 2001-2 Certificateholders

                       

 Section 5.01.     Distributions.

                        (a)         On each Payment Date, the Paying Agent shall distribute to each Class A Certificateholder of record on the related Record Date (other than as provided in Section 12.02 of the Agreement)
such Class A Certificateholder's pro rata share of the amounts that are allocated and available on such Payment Date to pay interest on the Class A Certificates pursuant to this Supplement.

                        (b)         On each Special Payment Date and on the Expected Final Payment Date, the Paying Agent shall distribute to each Class A Certificateholder of record on the related Record Date (other than as
provided in Section 12.02 of the Agreement) such Class A Certificateholder's pro rata share of the amounts on deposit in the Principal Funding Account (in an amount not to exceed the Class A Invested Amount) or otherwise held by the Paying
Agent and which are allocated and available on such date to pay principal of the Class A Certificates pursuant to this Supplement up to a maximum amount on any such date equal to the Class A Invested Amount on such date (unless there has been an
optional repurchase of the Certificateholders' Interest with respect to Series 2001-2 pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply).

                        (c)         On each Payment Date, the Paying Agent shall distribute to each Class B Certificateholder of record on the related Record Date (other than as provided in Section 12.02 of the Agreement)
such Class B Certificateholder's pro rata share of the amounts that are allocated and available on such Payment Date to pay interest on the Class B Certificates pursuant to this Supplement.

                        (d)         On each Special Payment Date, if any, commencing on the first Special Payment Date on which the Class A Invested Amount is paid in full and on the Expected Final Payment Date, the Paying
Agent shall distribute to each Class B Certificateholder of record on the related Record Date (other than as provided in Section 12.02 of the Agreement) such Class B Certificateholder's pro rata share of the amounts on deposit in the
Principal Funding Account in excess of the Class A Invested Amount (in an amount not to exceed the Class B Invested Amount) or otherwise held by the Paying Agent and which are allocated and available on such date to pay principal of the Class B
Certificates pursuant to this Supplement up to a maximum amount on any such date equal to the Class B Invested Amount on such date (unless there has been an optional repurchase of the Certificateholders' Interest with respect to Series 2001-2
pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply).

                        (e)         On each Payment Date, the Paying Agent shall distribute to each Collateral Interest Holder of record on the related Record Date (other than as provided in Section 12.02 of the Agreement)
such Collateral Interest Holder's pro rata share of the amounts that are allocated and available on such Payment Date to pay interest on the Collateral Interest pursuant to this Supplement.

                        (f)         On each Special Payment Date, if any, commencing on the first Special Payment Date on which the Class B Invested Amount is paid in full and on the Expected Final Payment Date, the Paying
Agent shall distribute to each Collateral Interest Holder of record on the related Record Date such Collateral Interest Holder's pro rata share of the amounts on deposit in the Principal Funding Account in excess of the sum of the Class A
Invested Amount and the Class B Invested Amount (in an amount not to exceed the Collateral Invested Amount), held by the Paying Agent or otherwise allocated and available on such date to pay principal of the Collateral Interest pursuant to this
Supplement up to a maximum amount on any such date equal to the Collateral Invested Amount (unless there has been an optional repurchase of the Certificateholders' Interest with respect to Series 2001-2 pursuant to Section 10.01 of the Agreement, in
which event the foregoing limitation will not apply).

                        (g)         The distributions to be made pursuant to this Section 5.01 are subject to the provisions of Sections 2.06, 9.02, 10.01 and 12.02 of the Agreement and Sections 8.01 and 8.02 of this
Supplement.

                        (h)         Except as provided in Section 12.02 of the Agreement with respect to a final distribution, distributions to each Series 2001-2 Certificateholder hereunder shall be made by check mailed to
each Series 2001-2 Certificateholder at such Series 2001-2 Certificateholder's address appearing in the Certificate Register without presentation or surrender of any Series 2001-2 Certificate or the making of any notation thereon; provided,
however, that with respect to the Series 2001-2 Certificates registered in the name of a Clearing Agency, such distributions shall be made to such Clearing Agency in immediately available funds. Distributions to each Collateral Interest
Holder hereunder shall be made (i) by wire transfer in same day funds to an account at a bank or other depository institution located within the United States as shall have been designated by such Collateral Interest Holder by notice in writing on
or before the related Payment Date or (ii) in the absence of such designation, by check mailed to each Collateral Interest Holder at the address appearing in the Transfer Agreement. 

                       

 Section 5.02.     Reports and Statements to Series 2001-2 Certificateholders. 

                        (a)         On each Distribution Date, the Paying Agent, on behalf of the Trustee, shall make available for inspection upon request to each Series 2001-2 Holder free of charge at the office of
such Paying Agent a statement substantially in the form of Exhibit C prepared by the Servicer for a period of six months commencing on such Distribution Date. 

                        (b)         Not later than each Determination Date, the Servicer shall deliver to the Trustee, the Paying Agent and each Rating Agency (i) a statement substantially in the form of Exhibit B
prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit C.

                        (c)         On or before January 31 of each calendar year, beginning with the calendar year next succeeding the Closing Date, the Paying Agent, on behalf of the Trustee, shall make available
for inspection upon request to each Person who at any time during the preceding calendar year was a Series 2001-2 Holder free of charge at the office of such Paying Agents, a statement prepared by the Servicer containing the information which is
required to be contained in the statement to Series 2001-2 Holders, as set forth in paragraph (a) or (b) above, as applicable, aggregated for such calendar year or the applicable portion thereof during which such Person was a Series 2001-2 Holder,
together with other information as is required to be provided by an issuer of indebtedness under the Internal Revenue Code for a period of eighteen months commencing on February 1 of such calendar year. Such obligation of the Servicer shall be
deemed to have been satisfied to the extent that substantially comparable information shall be made available for inspection by the Paying Agent pursuant to any requirements of the Internal Revenue Code as from time to time in effect. 

ARTICLE VI

 Additional Pay Out Events

                        

Section 6.01.     Additional Pay Out Events. If any one of the following events shall occur with respect to the Series 2001-2 Certificates:

                        (a)         failure on the part of a Seller (i) to make any payment or deposit required by the terms of the Agreement or this Supplement on
or before the date occurring five Business Days after the date such payment or deposit is required to be made therein or herein or (ii) duly to observe or perform any other covenants or agreements of such Seller set forth in the Agreement or this
Supplement (including the covenants of the Seller contained in Article IX of this Supplement), which failure has a material adverse effect on the Series 2001-2 Holders and which continues unremedied for a period of 60 days after the date on which
written notice of such failure, requiring the same to be remedied, shall have been given to the Sellers by the Trustee, or to the Sellers and the Trustee by any Series 2001-2 Holder;

                        (b)       
  any representation or warranty made by a Seller in the Agreement or this Supplement, or any information contained in a computer file or microfiche list required to be
delivered by a Seller pursuant to Section 2.01 or 2.08(g) of the 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 60 days after
the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Sellers by the Trustee, or to the Sellers and the Trustee by any Holder of the Series 2001-2 Interests and as a result of which the
interests of the Series 2001-2 Holders are materially and adversely affected and continue to be materially and adversely affected for such period; provided, however, that a Pay Out Event pursuant to this Section 6.01(b) shall not be
deemed to have occurred hereunder if the Seller has accepted reassignment of the related Receivable, or all of such Receivables, if applicable, during such period in accordance with the provisions of the Agreement;

                        (c)         a failure by a Seller to convey Receivables in Additional Accounts or Participation Interests to the Trust within five Business Days after the day on which it is required to convey
such Receivables or Participation Interests pursuant to Section 2.08(a) of the Agreement or Section 9.02 of this Supplement;

                        (d)         any Servicer Default shall occur;

                        (e)         a Transfer Restriction Event shall occur;

                        (f)          the average Portfolio Yield for any three consecutive Monthly Periods is reduced to a rate which is less than the average Base Rate for such three Monthly Periods;
or

                        (g)         the Invested Amount shall not be paid in full on the Expected Final Payment Date;

then, in the case of any event described in subparagraph (a), (b) or (d), after the applicable grace period, if any, set forth in such subparagraphs, either the Trustee or the holders of
Investor Certificates (including the Collateral Interest Holder) of Series 2001-2 evidencing more than 50% of the aggregate unpaid principal amount of Investor Certificates (including the Collateral Interest ) by notice then given in writing to the
Sellers and the Servicer (and to the Trustee if given by the holders of Investor Certificates (including the Collateral Interest Holder) of Series 2001-2) may declare that a Pay Out Event has occurred with respect to Series 2001-2 as of the date of
such notice, and, in the case of any event described in subparagraph (c), (e), (f) or (g) a Pay Out Event shall occur with respect to Series 2001-2 without any notice or other action on the part of the Trustee or holders of Investor Certificates
(including the Collateral Interest Holder) of Series 2001-2 immediately upon the occurrence of such event. 

ARTICLE VII

Optional Repurchase; Series Termination 

                        

Section 7.01.     Optional Repurchase. 

                        (a)         On any day occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, a Seller (so long as such Seller is the Servicer or
an Affiliate thereof) shall have the option to purchase the interest of the Series 2001-
2 Holders, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such
day.

                        (b)         Such Seller shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which such Seller intends to exercise such purchase option. Not later than
12:00 noon, Richmond time, on such day that Seller shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit
of the Reassignment Amount into the Collection Account in accordance with the foregoing, the Invested Amount for Series 2001-2 shall be reduced to zero and the Series 2001-2 Certificateholders and the Collateral Interest Holder shall have no further
interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 8.01(b).

                       

 Section 7.02.     Series Termination. 

                        (a)         If, on the November 2008 Distribution Date, the Invested Amount (after giving effect to all changes therein on such Distribution Date) would be greater than zero, the Servicer, on
behalf of the Trustee, shall, within the 40-day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested
Amount at the close of business on the last day of the Monthly Period preceding the Termination Date (after giving effect to all distributions required to be made on the Termination Date, except pursuant to this Section 7.02). Such bids shall
require that such sale shall (subject to Section 7.02(b)) occur on the Termination Date. 

                        (b)         The Servicer, on behalf of the Trustee, shall sell such Receivables (or interests therein) on the Termination Date to the bidder who made the highest cash purchase offer. The
proceeds of any such sale shall be deposited in the Collection Account and treated as Collections on the Receivables allocated to the Series 2001-2 Holders pursuant to the Agreement and this Supplement; provided, however, that the
Servicer shall determine conclusively the amount of such proceeds which are allocable to Finance Charge Receivables and the amount of such proceeds which are allocable to Principal Receivables. During the period from the November 2008 Distribution
Date to the Termination Date, the Servicer shall continue to collect payments on the Receivables and allocate and deposit such collections in accordance with the provisions of the Agreement and the Supplements.

ARTICLE VIII

 Final Distributions

                        

Section 8.01.     Sale of Receivables or Certificateholders' Interest pursuant to Section 2.06 or 10.01 of the Agreement. 

	 	                (a)    Purchase Price. (i) The amount to be paid by a Seller
with respect to Series 2001-2 in connection with a reassignment of Receivables to such Seller pursuant to Section 2.06 of the Agreement shall equal the Reassignment Amount for the first 

	 	Distribution Date following the Monthly Period in which the reassignment obligation arises under the Agreement.
	 	 
	 	                (ii)    The amount to be paid by a Seller with respect to
Series 2001-2 in connection with a repurchase of the Certificateholders' Interest pursuant to Section 10.01 of the Agreement shall equal the sum of (x) the Reassignment Amount for the Distribution Date of such repurchase and (y) the sum of (A) the
excess, if any, of (I) a price equivalent to the average of bids quoted on the Record Date preceding the date of repurchase (or, if not a Business Day, on the next succeeding Business Day) by at least two recognized dealers selected by the Trustee
at the written direction of the Servicer, for the purchase by such dealers of a security which is similar to the Class A Certificates with a remaining maturity approximately equal to the remaining maturity of the Class A Certificates and rated by
each Rating Agency in the rating category originally assigned to the Class A Certificates over (II) the portion of the Reassignment Amount attributable to the Class A Certificates, (B) the excess, if any, of (I) a price equivalent to the
average of bids quoted on such Record Date or, if not a Business Day, on the next succeeding Business Day by at least two recognized dealers selected by the Trustee at the written direction of the Servicer, for the purchase by such dealers of a
security which is similar to the Class B Certificates with a remaining maturity approximately equal to the remaining maturity of the Class B Certificates and rated by each Rating Agency in the rating category originally assigned to the Class B
Certificates over (II) the portion of the Reassignment Amount attributable to the Class B Certificates and (C) the excess, if any, of (I) a price equivalent to the average of bids quoted on such Record Date or, if not a Business Day, on the
next succeeding Business Day by at least two recognized dealers selected by the Trustee at the written direction of the Servicer, for the purchase by such dealers of a security which is similar to the Notes (as defined in the Transfer Agreement)
with a remaining maturity approximately equal to the remaining maturity of the Notes and rated by each rating agency selected to rate the Notes in the rating category originally assigned to the Notes over (II) the portion of the Reassignment Amount
attributable to the Collateral Interest.

                        (b)       
   Distributions Pursuant to Section 7.01 or 7.02 of this Supplement and Section 10.01 of the Agreement. With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 or 8.01(a)(ii) or any amounts
allocable to the Series 2001-2 Certificateholders' Interest deposited into the Collection Account pursuant to Section 7.02, the Trustee shall, not later than 12:00 noon, Richmond time, on the related Distribution Date, make deposits or distributions
of the following amounts (in the priority set forth below and, in each case, after giving effect to any deposits and distributions otherwise to be made on such date) in immediately available funds: (i) (x) the Class A Invested Amount on such
Distribution Date will be distributed to the Paying Agent for payment to the Class A Certificateholders, (y) an amount equal to the sum of (A) Class A Monthly Interest for such Distribution Date, (B) any Class A Outstanding Monthly Interest and (C)
the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Outstanding Additional Interest, will be distributed to the Paying Agent for payment to the Class A Certificateholders and (z) an amount equal to the Net
Swap Payment, if any, for such Distribution Date and any previously due but not paid Net Swap Payments, (ii) (x) the Class B Invested Amount on such Distribution Date will be distributed to the Paying Agent for payment to the Class B
Certificateholders and (y) an amount equal to the sum of (A) Class B Monthly Interest for such Distribution Date, (B) any Class B Outstanding Monthly Interest and (C) the amount of Class B Additional Interest, if any, for such Distribution Date and
any Class B Outstanding Additional Interest, will be distributed to the Paying Agent for payment to the Class B Certificateholders and (iii) any remaining amounts will be distributed to the Paying Agent for payment to the Collateral Interest
Holder. Notwithstanding anything to the contrary contained in this Supplement or the Agreement, the amount of any excess determined pursuant to paragraph (a)(ii)(y) shall be distributed to the Series 2001-2 Certificateholders.

                        (c)       
  Distributions Pursuant to Section 2.06 of the Agreement. With respect to any amounts deposited into the Collection Account pursuant to Section 8.01(a)(i), the Trustee shall, not later than 12:00 noon, Richmond time, on the related
Distribution Date, deposit the principal portion of such amounts that are allocable to the Series 2001-2 Holders into the Principal Funding Account.

                        (d)       
  Notwithstanding anything to the contrary in this Supplement or the Agreement, all amounts distributed to the Paying Agent pursuant to Section 8.01(b) for payment to the Series 2001-2 Holders shall be deemed distributed in full to the Series
2001-2 Holders on the date on which such funds are distributed to the Paying Agent pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement. 

                       

 Section 8.02.     Distribution of Proceeds of Sale, Disposition or Liquidation of the Receivables pursuant to Section 9.02 of the Agreement. 

                        (a)       
  Not later than 12:00 noon, Richmond time, on the Distribution Date following the date on which the Insolvency Proceeds are deposited into the Collection Account pursuant to Section 9.02(b) of the Agreement, the Trustee shall (in the following
priority and, in each case, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date) (i) deduct an amount equal to the Class A Invested Amount on such Distribution Date from the portion of the Insolvency
Proceeds allocated to Collections of Principal Receivables and distribute such amount to the Paying Agent for payment to the Class A Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of
the Insolvency Proceeds allocated to Collections of Principal Receivables and (y) the Principal Allocation Percentage with respect to the related Monthly Period and (ii) deduct an amount equal to the Class B Invested Amount on such Distribution Date
from the portion of the Insolvency Proceeds allocated to Collections of Principal Receivables and distribute such amount to the Paying Agent for payment to the Class B Certificateholders, provided that the amount of such distribution shall not
exceed (x) the product of (A) the portion of such Insolvency Proceeds allocated to Collections of Principal Receivables and (B) the Principal Allocation Percentage with respect to the related Monthly Period minus (y) the amount distributed to
the Paying Agent pursuant to clause (i) of this sentence. To the extent that the product of (A) the portion of the Insolvency Proceeds allocated to Collections of Principal Receivables and (B) the Principal Allocation Percentage with respect to the
related Monthly Period exceeds the aggregate amounts distributed to the Paying Agent pursuant to the preceding sentence, the excess shall be distributed to the Paying Agent for payment to the Collateral Interest Holder on such Distribution
Date.

                        (b)       
  Not later than 12:00 noon, Richmond time, on such Distribution Date, the Trustee shall (in the following priority and, in each case, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date)
(i) deduct an amount equal to the sum of (A) the sum of (w) Class A Monthly Interest for such Distribution Date, (x) any Class A Outstanding Monthly Interest and (y) the amount of Class A Additional Interest, if any, for such Distribution Date and
any Class A Outstanding Additional Interest, from the portion of the Insolvency Proceeds allocated to Collections of Finance Charge Receivables and distribute such amount to the Paying Agent for payment to the Class A Certificateholders and (B) an
amount equal to the Net Swap Payment, if any, for such Distribution Date and any previously due but not paid Net Swap Payments, provided that the amount of such distribution shall not exceed the product of (A) the portion of the Insolvency Proceeds
allocated to Collections of Finance Charge Receivables, (B) the Floating Allocation Percentage with respect to the related Monthly Period and (C) the Class A Floating Percentage with respect to such Monthly Period and (ii) deduct an amount equal to
the sum of (w) Class B Monthly Interest for such Distribution Date, (x) Class B Outstanding Monthly Interest and (y) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Outstanding Additional Interest, from
the portion of the Insolvency Proceeds allocated to Collections of Finance Charge Receivables and distribute such amount to the Paying Agent for payment to the Class B Certificateholders, provided that the amount of such distribution shall not
exceed the product of (A) the portion of the Insolvency Proceeds allocated to Collections of Finance Charge Receivables, (B) the Floating Allocation Percentage with respect to the related Monthly Period and (C) the Class B Floating Percentage with
respect to such Monthly Period. To the extent that the product of (x) the portion of the Insolvency Proceeds allocated to Collections of Finance Charge Receivables and (y) the Floating Allocation Percentage with respect to the related Monthly Period
exceeds the aggregate amount distributed to the Paying Agent pursuant to the preceding sentence, the excess shall be distributed to the Paying Agent for payment to the Collateral Interest Holder on such Distribution Date.

                        (c)       
  Notwithstanding anything to the contrary in this Supplement or the Agreement, all amounts distributed to the Paying Agent pursuant to this Section for payment to the Series 2001-2 Holders shall be distributed in full to the Series 2001-2
Holders on the date on which funds are distributed to the applicable Paying Agents pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement.

                        (d)       
  Notwithstanding any provision of the Agreement or this Supplement, for purposes of Section 9.02(a) of the Agreement, the Holders of the Series 2001-2 Certificates shall not be deemed to have disapproved a liquidation of the Receivables
following an Insolvency Event with respect to the Seller unless (i) holders of more than 50% of the aggregate unpaid principal amount of each of the Class A Certificates and the Class B Certificates and (ii) beneficial owners of more than 50% of the
Collateral Interest shall have disapproved of such liquidation.

ARTICLE IX

New Issuances; Addition of Accounts

                       

 Section 9.01.     New Issuances. The obligation of the Trustee to authenticate the Investor Certificates of a new Series and to execute and deliver the related Supplement shall be subject to the conditions set forth
in Section 6.03(b) of the Agreement and to the additional condition that, as of the Series Issuance Date and after giving effect to such issuance, the aggregate amount of Principal Receivables equals or exceeds the Required Principal
Balance.

ARTICLE X

Miscellaneous Provisions 

                       

 Section 10.01.   Ratification of Agreement. As supplemented by this Supplement, the Agreement is in all respects ratified and confirmed and the Agreement as so supplemented by this Supplement shall be read, taken and
construed as one and the same instrument.

                        

Section 10.02.   Counterparts. This Supplement may be executed in two or more counterparts, and by different parties on separate counterparts, each of which shall be an original, but all of which shall constitute one and the
same instrument.

                        

Section 10.03.   GOVERNING LAW. THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

                        

Section 10.04.   Determination of Material Adverse Effect. Any determination of material adverse effect on the Series 2001-2 Certificateholders under the Agreement or this Supplement shall be made assuming the Collateral
Invested Amount is zero (including, without limitation, any determination of whether a representation or warranty made therein is correct or whether a Seller or the Servicer has duly performed a covenant contained therein or herein).

                        

Section 10.05.   Book-Entry Certificates. The Class A Certificates and the Class B Certificates shall be delivered as Book-Entry Certificates. The Clearing Agency for
the Class A Certificates and the Class B Certificates shall be The Depository Trust Company, and the Class A Certificates and the Class B Certificates shall be initially registered in the name of Cede & Co., its nominee. The Series 2001-2
Certificates are issuable only in minimum denominations of $1,000 and integral multiples of $1,000.

                        

Section 10.06.   Uncertificated Securities. The Collateral Interest shall be delivered in uncertificated form.

                       

 Section 10.07.   Transfers of the Collateral Interest.

                        (a)       
  Unless otherwise consented to by the Sellers, no portion of the Collateral Interest or any interest therein may be sold, conveyed, assigned, hypothecated, pledged, participated, exchanged or otherwise transferred (each, a
"Transfer") except in accordance with this Section 10.07 and only to a Permitted Assignee. Any attempted or purported transfer, assignment, exchange, conveyance, pledge, hypothecation or grant other than to a Permitted Assignee shall be
void. Unless otherwise consented to by the Sellers, no portion of the Collateral Interest or any interest therein may be Transferred to any Person (each such Person acquiring the Collateral Interest or any interest therein, an "Assignee")
unless such Assignee shall have executed and delivered to the Sellers on or before the effective date of any Transfer a letter substantially in the form attached hereto as Exhibit D (an "Investment Letter"), executed by such Assignee, with
respect to the related Transfer to such Assignee of all or a portion of the Collateral Interest.

                        (b)       
  Each Assignee will certify that the Collateral Interest or the interest therein purchased by such Assignee will be acquired for investment only and not with a view to any public distribution thereof, and that such Assignee will not offer
to sell or otherwise dispose of the Collateral Interest or any interest therein so acquired by it in violation of any of the registration requirements of the Act, or any applicable state or other securities laws. Each Assignee will acknowledge and
agree that (i) it has no right to require the Seller to register under the Act or any other securities law the Collateral Interest or the interest therein to be acquired by the Assignee and (ii) the sale of the Collateral Interest is not being made
by means of the Prospectus. Each Assignee will agree with the Seller that: (a) such Assignee will deliver to the Seller on or before the effective date of any Transfer an Investment Letter, executed by such Assignee with respect to the purchase by
such Assignee of all or a portion of the Collateral Interest and (b) all of the statements made by such Assignee in its Investment Letter shall be true and correct as of the date made.

                        (c)       
  No portion of the Collateral Interest or any interest therein may be Transferred, and each Assignee will certify that it is not, (a) an "employee benefit plan" (as defined in Section 3(3) of ERISA), including governmental plans
and church plans, (b) any "plan" (as defined in Section 4975(e)(1) of the Code) including individual retirement accounts and Keogh plans, or (c) any other entity whose underlying assets include "plan assets" (within the meaning
of Department of Labor Regulation Section 2510.3-101, 29 C.F.R. § 2510.3-101 or otherwise under ERISA) by reason of a plan's investment in the entity, including, without limitation, an insurance company general account.

                        (d)       
  This Section 10.07 shall not apply to the transfer and pledge of the Collateral Interest on the Closing Date by the Sellers pursuant to the Transfer Agreement or by the Capital One Secured Note Trust 2001-2 to the Indenture Trustee (as
defined in the Transfer Agreement) pursuant to the Indenture (as defined in the Transfer Agreement).

                        

Section 10.08. Certain Accounting Related Amendments. Notwithstanding any other provision of this Agreement to the contrary, the consent of the Servicer, the Trustee, the Swap
Counterparty and any Investor Certificateholder is hereby deemed to be given in connection with the amendment of the Agreement or this Supplement to account for the transfer
of assets as sales in accordance with FASB Statement No. 140, including providing for the transfer of receivables from the Sellers to a bankruptcy-remote special purpose entity and from that entity to the trust; provided that the Sellers
shall have delivered a Tax Opinion on the date of such amendment. Promptly after the effectiveness of any amendment pursuant to this Section 10.08, the Sellers shall deliver a copy of such amendment to each of the Servicer, the Trustee, each Rating
Agency and the Swap Counterparty.

                        IN WITNESS WHEREOF, the undersigned have caused
this Supplement to be duly executed and delivered by their respective duly authorized officers on the day and year first above written.

	 	CAPITAL ONE BANK, 
	 	 	Seller and Servicer
	 	 	 
	 	 	 
	 	By:

	/s/ Thomas Feil 
 
	 	 	Name:  Thomas Feil

Title:    Director of Securitization
	 	 	 
	 	 	 
	 	CAPITAL ONE, F.S.B.,
	 	 	Seller
	 	 	 
	 	 	 
	 	By:

	/s/ Thomas Feil 
 
	 	 	Name:  Thomas Feil

Title:    Director of Securitization
	 	 	 
	 	 	 
	 	THE BANK OF NEW YORK,
	 	 	Trustee
	 	 	 
	 	 	 
	 	By:

	/s/ Scott J. Tepper 
 
	 	 	Name:  Scott J. Tepper

Title:    Assistant Treasurer

 

 

[Signature Page to Series 2001-2 Supplement] 

	 	 EXHIBIT A-1

	 	 

	REGISTERED	 $975,000,000*

	 	 
	No. R-__	CUSIP No. 14040KBR8

                        Unless this Class A Certificate 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 certificate 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.

CAPITAL ONE MASTER TRUST

Series 2001-2

CLASS A FLOATING RATE ASSET BACKED CERTIFICATE

Expected Final Payment Date:

March 2006 Distribution Date

Each $1,000 minimum denomination represents a

1/975,000 undivided interest

in certain assets of the

CAPITAL ONE MASTER TRUST

Evidencing an undivided interest in a trust, the corpus of which consists primarily of receivables generated from time to time in the ordinary course of business in a portfolio of consumer
revolving credit card accounts by 

CAPITAL ONE BANK

and

CAPITAL ONE, F.S.B.

and, in certain circumstances, certain Additional Sellers (as defined in the Pooling and Servicing Agreement referred to below).

(Not an interest in or obligation of Capital One Bank,

Capital One, F.S.B., any Additional Seller or any affiliate thereof)

_____________________

*
Denominations of $1,000 and integral multiples of $1,000 in excess thereof.

                        This certifies that CEDE & CO. (the
"Class A Certificateholder") is the registered owner of a fractional undivided interest in certain assets of a trust (the "Trust") created pursuant to the Pooling and Servicing Agreement, dated as of September 30, 1993, as
amended and restated as of April 9, 2001 (as amended and restated and as amended and supplemented, the "Agreement"), as supplemented by the Series 2001-2 Supplement, dated as of May 2, 2001 (as amended and supplemented, the "Series
Supplement"), among Capital One Bank, as Seller and Servicer, Capital One, F.S.B., as Seller, and The Bank of New York, a New York banking corporation, as trustee (the "Trustee"). The corpus of the Trust consists of (i) a
portfolio of all receivables (the "Receivables") existing in the consumer revolving credit card accounts and other consumer revolving credit accounts identified under the Agreement from time to time (the "Accounts"),
(ii) all Receivables generated under the Accounts from time to time thereafter, (iii) funds collected or to be collected from accountholders in respect of the Receivables, (iv) all funds which are from time to time on deposit in the
Collection Account and in the Series Accounts, (v) an interest in any Funds Collateral (as defined in the Agreement) relating to secured accounts, (vi) the benefits of any Series Enhancement and (vii) all other assets and interests
constituting the Trust. The Holder of this Class A Certificate is entitled to the benefit of any Series Enhancement to the extent provided in the Series Supplement. Although a summary of certain provisions of the Agreement and the Series Supplement
is set forth below and on the Summary of Terms and Conditions attached hereto and made a part hereof, this Class A Certificate does not purport to summarize the Agreement and the Series Supplement and reference is made to the Agreement and the
Series Supplement for information with respect to the interests, rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Trustee. In the event of any conflict between this Class A Certificate
and the Series Supplement or the Agreement, the Series Supplement or the Agreement, as the case may be, shall control. A copy of the Agreement and the Series Supplement (without schedules) may be requested from the Trustee by writing to the Trustee
at the Corporate Trust Office. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to them in the Agreement or the Series Supplement, as applicable.

                        This Class A Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement and the Series Supplement, to which Agreement and Series Supplement, each as amended and supplemented from time to time, the Class A Certificateholder by virtue of the acceptance
hereof assents and is bound.

                        It is the intent of the Sellers and the Investor
Certificateholders that, for federal, state and local income and franchise tax purposes only, the Investor Certificates will qualify as indebtedness of the Sellers secured by the Receivables. The Class A Certificateholder, by the acceptance of this
Class A Certificate, agrees to treat this Class A Certificate for federal, state and local income and franchise tax purposes as indebtedness of the Sellers.

                        In general, payments of principal with respect to
the Class A Certificates are limited to the Class A Invested Amount, which may be less than the unpaid principal balance of the Class A Certificates. The Expected Final Payment Date is the March 2006 Distribution Date, but principal with respect to
the Class A Certificates may be paid earlier or later under certain circumstances described in the Agreement and the Series Supplement. If for one or more months during the Accumulation Period there are not sufficient funds to pay the Controlled
Deposit
Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Accumulation Period to make up for such shortfalls, the final payment of principal of the Class A Certificates will occur later than
the Expected Final Payment Date.

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

                        IN WITNESS WHEREOF, the Sellers have caused this
Class A Certificate to be duly executed.

	 	CAPITAL ONE BANK
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	Name:

Title:
	 	 	 
	 	 	 
	 	CAPITAL ONE, F.S.B.
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	Name:

Title:

 

Dated: May 2, 2001

TRUSTEE'S CERTIFICATE OF AUTHENTICATION

                        This is one of the Class A Certificates described
in the within-mentioned Agreement and Series Supplement.

	 	THE BANK OF NEW YORK,
	 	 	as Trustee
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	Authorized Officer
	 	 	 
	 	 	 
	 	or	 
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	as Authenticating Agent

for the Trustee
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	Authorized Officer

CAPITAL ONE MASTER TRUST

SERIES 2001-2

CLASS A FLOATING RATE ASSET BACKED CERTIFICATE

Summary of Terms and Conditions

                        The Receivables consist of Principal Receivables
which arise generally from the purchase of goods and services and amounts advanced to accountholders as cash advances and Finance Charge Receivables. This Class A Certificate is one of a Series of Investor Certificates entitled "Capital One
Master Trust, Series 2001-2." The Series 2001-2 Certificates are being issued in two Classes, the first of which is known as the "Class A Floating Rate Asset Backed Certificates, Series 2001-2" (the "Class A Certificates")
and the second Class is known as the "Class B Floating Rate Asset Backed Certificates, Series 2001-2" (the "Class B Certificates"). In addition, as part of Series 2001-2, the Trust is creating a third Class of uncertificated
interest in the Trust which uncertificated interest, except as expressly provided in the Series Supplement, is deemed to be an "Investor Certificate" and is known as the "Collateral Interest, Series 2001-2" (the "Collateral
Interest"). This Class A Certificate represents a fractional undivided interest in certain assets of the Trust. The Trust Assets are allocated in part to the certificateholders of all outstanding Series (the "Certificateholders'
Interest") with the remainder allocated to the Seller's Interest. The aggregate interest represented by the Class A Certificates at any time in the Principal Receivables in the Trust shall not exceed an amount equal to the Class A Invested
Amount at such time. The Class A Initial Invested Amount is $975,000,000. The Class A Invested Amount on any date of determination will be an amount equal to (a) the Class A Initial Invested Amount, minus (b) the aggregate amount of principal
payments made to the Class A Certificateholders on or prior to such date, minus (c) the excess, if any, of the aggregate amount of Class A Investor Charge-Offs for all prior Distribution Dates over the aggregate amount of Class A
Investor Charge-Offs reimbursed pursuant to subsection 4.06(a) of the Series Supplement prior to such date. Also, Capital One Bank and Capital One, F.S.B. have received an adjustment to the Sellers' Interest on the date hereof.

                        Subject to the terms and conditions of the
Agreement, the Seller may from time to time direct the Trustee, on behalf of the Trust, to issue one or more new Series of Investor Certificates, which will represent fractional undivided interests in certain of the Trust Assets.

                        On each Payment Date, the Paying Agent shall
distribute to each Class A Certificateholder of record on the last day of the preceding calendar month (each, a "Record Date") such Class A Certificateholder's pro rata share of such amounts (including amounts on deposit in the Collection
Account and the Principal Funding Account) as are payable to the Class A Certificateholders pursuant to the Agreement and the Series Supplement. Distributions with respect to this Class A Certificate will be made by the Paying Agent by check mailed
to the address of the Class A Certificateholder of record appearing in the Certificate Register without the presentation or surrender of this Class A Certificate or the making of any notation thereon (except for the final distribution in respect of
this Class A Certificate), except that with respect to
Class A Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final payment of this Class A Certificate will be made only upon
presentation and surrender of this Class A Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Class A Certificateholders in accordance with the Agreement and the Series
Supplement.

                        On any day occurring on or after the day on which
the Invested Amount is reduced to 5% or less of the Initial Invested Amount, a Seller (so long as such Seller is the Servicer or an Affiliate thereof) has the option to repurchase the Certificateholders' Interest in the Trust. The repurchase price
will be equal to (a) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. Following the deposit of
the Reassignment Amount in the Collection Account, Class A Certificateholders, the Class B Certificateholders and the Collateral Interest Holder will not have any interest in the Receivables and the Class A Certificates will represent only the right
to receive such Reassignment Amount.

                        This Class A Certificate does not represent an
obligation of, or an interest in, the Sellers, the Servicer 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. This Class A Certificate
is limited in right of payment to certain Collections with respect to the Receivables (and certain other amounts), all as more specifically set forth herein above and in the Agreement and the Series Supplement.

                        The Agreement or any Supplement may, subject to
certain conditions, be amended by the Sellers, the Servicer and the Trustee without Certificateholder consent. The Trustee may, but shall not be obligated to, enter into any such amendment which affects the Trustee's rights, duties or immunities
under the Agreement or otherwise.

                        The Agreement or any Supplement may also be
amended from time to time by the Servicer, the Sellers and the Trustee, with the consent of the Holders of Investor Certificates evidencing not less than 66 2/3% of the aggregate unpaid principal amount of the Investor Certificates of all adversely
affected Series, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Agreement or any Supplement or of modifying in any manner the rights of the Investor Certificateholders;
provided, however, that no such amendment shall (i) reduce in any manner the amount of or delay the timing of any distributions to be made to Investor Certificateholders or deposits of amounts to be so distributed or the amount
available under any Series Enhancement without the consent of each affected Investor Certificateholder, (ii) change the definition of or the manner of calculating the interest of any Investor Certificateholder without the consent of each affected
Investor Certificateholder, (iii) reduce the aforesaid percentage required to consent to any such amendment without the consent of each Investor Certificateholder or (iv) adversely affect the rating of any Series or Class by each Rating Agency
without the consent of the Holders of Investor Certificates of such Series or Class evidencing not less than 66 2/3% of the aggregate unpaid principal amount of the Investor Certificates of such Series or Class. The Trustee may,
but shall not be obligated to, enter into any such amendment which affects the Trustee's rights, duties or immunities under the Agreement or otherwise.

                        The Class A Certificates are issuable only in
minimum denominations of $1,000 and integral multiples of $1,000. The transfer of this Class A Certificate shall be registered in the Certificate Register upon surrender of this Class A Certificate for registration of transfer at any office or
agency maintained by the Transfer Agent and Registrar accompanied by a written instrument of transfer, in a form satisfactory to the Trustee or the Transfer Agent and Registrar, duly executed by the Class A Certificateholder or such Class A
Certificateholder's attorney, and duly authorized in writing with such signature guaranteed, and thereupon one or more new Class A Certificates of authorized denominations and for the same aggregate fractional undivided interest will be issued to
the designated transferee or transferees. 

                        As provided in the Agreement and subject to
certain limitations therein set forth, Class A Certificates are exchangeable for new Class A Certificates evidencing like aggregate fractional undivided interests as requested by the Class A Certificateholder surrendering such Class A Certificates.
No service charge may be imposed for any such exchange but the Servicer or Transfer Agent and Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith.

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

                        THIS CLASS A CERTIFICATE SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, 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.

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:

____________________________

 

 

___________________

*
NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in every particular, without alteration, enlargement or any change whatsoever.

	 	 EXHIBIT A-2

	 	 

	REGISTERED	 $120,000,000*

	 	 
	No. R-__	CUSIP No. 14040KBS6

                        THE HOLDER OF THIS CLASS B CERTIFICATE BY ITS
ACCEPTANCE HEREOF REPRESENTS AND WARRANTS, FOR THE BENEFIT OF CAPITAL ONE BANK AND CAPITAL ONE, F.S.B., THAT SUCH HOLDER IS NOT (1) AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, (2) A
PLAN OR OTHER ARRANGEMENT (INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT OR KEOGH PLAN) THAT IS SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR (3) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE "PLAN ASSETS" UNDER THE
PLAN ASSET REGULATION BY REASON OF ANY SUCH PLAN'S INVESTMENT IN THE ENTITY.

                        Unless this Class B Certificate 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 certificate 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.

CAPITAL ONE MASTER TRUST

Series 2001-2

CLASS B FLOATING RATE ASSET BACKED CERTIFICATE

Expected Final Payment Date:

The March 2006 Distribution Date

Each $1,000 denomination represents a

1/120,000 undivided interest

in certain assets of the

CAPITAL ONE MASTER TRUST

 

___________________

*
Denominations of $1,000 and integral multiples of $1,000 in excess thereof.

Evidencing an undivided interest in a trust, the corpus of which consists primarily of receivables generated from time to time in the ordinary course of business in a portfolio of consumer
revolving credit card accounts by CAPITAL ONE BANK and CAPITAL ONE, F.S.B. and, in certain circumstances, certain Additional Sellers (as defined in the Pooling and Servicing Agreement referred to below).

(Not an interest in or obligation of Capital One Bank,

Capital One, F.S.B., any Additional Seller or any affiliate thereof)

                        This certifies that CEDE & CO. (the
"Class B Certificateholder") is the registered owner of a fractional undivided interest in certain assets of a trust (the "Trust") created pursuant to the Pooling and Servicing Agreement, dated as of September 30, 1993, as
amended and restated as of April 9, 2001 (as amended and supplemented, the "Agreement"), as supplemented by the Series 2001-2 Supplement, dated as of May 2, 2001 (as amended and supplemented, the "Series Supplement"), among
Capital One Bank, as Seller and Servicer, Capital One, F.S.B., as Seller, and The Bank of New York, a New York banking corporation, as trustee (the "Trustee"). The corpus of the Trust consists of (i) a portfolio of all receivables
(the "Receivables") existing in the consumer revolving credit card accounts and other consumer revolving credit accounts identified under the Agreement from time to time (the "Accounts"), (ii) all Receivables generated under
the Accounts from time to time thereafter, (iii) funds collected or to be collected from accountholders in respect of the Receivables, (iv) all funds which are from time to time on deposit in the Collection Account and in the Series
Accounts, (v) an interest in any Funds Collateral (as defined in the Agreement) relating to secured accounts, (vi) the benefits of any Series Enhancement and (vii) all other assets and interests constituting the Trust. The Holder of
this Class B Certificate is entitled to the benefit of any Series Enhancement to the extent provided in the Series Supplement. Although a summary of certain provisions of the Agreement and the Series Supplement is set forth below and on the Summary
of Terms and Conditions attached hereto and made a part hereof, this Class B Certificate does not purport to summarize the Agreement and the Series Supplement and reference is made to the Agreement and the Series Supplement for information with
respect to the interests, rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Trustee. In the event of any conflict between this Class B Certificate and the Series Supplement or the
Agreement, the Series Supplement or the Agreement, as the case may be, shall control. A copy of the Agreement and the Series Supplement (without schedules) may be requested from the Trustee by writing to the Trustee at the Corporate Trust Office. To
the extent not defined herein, the capitalized terms used herein have the meanings ascribed to them in the Agreement or the Series Supplement, as applicable.

                        This Class B Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement and the Series Supplement, to which Agreement and Series Supplement, each as amended and supplemented from time to time, the Class B Certificateholder by virtue of the acceptance
hereof assents and is bound.

                        It is the intent of the Sellers and the Investor
Certificateholders that, for federal, state and local income and franchise tax purposes only, the Investor Certificates will qualify as indebtedness of the Seller secured by the Receivables. The Class B Certificateholder, by the acceptance of this
Class B Certificate, agrees to treat this Class B Certificate for federal, state and local income and franchise tax purposes as indebtedness of the Sellers.

                        In general, payments of principal with respect to
the Class B Certificates are limited to the Class B Invested Amount, which may be less than the unpaid principal balance of the Class B Certificates. The Expected Final Payment Date is the March 2006 Distribution Date, but principal with respect to
the Class B Certificates may be paid earlier or later under certain circumstances described in the Agreement and the Series Supplement. Principal payments with respect to the Class B Certificates will not commence until the Class A Invested Amount
is paid in full. In addition, if for one or more months during the Accumulation Period there are not sufficient funds to pay the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with
respect to the Accumulation Period to make up for such shortfalls, the final payment of principal of the Class B Certificates will occur later than the Expected Final Payment Date.

                        No Class B Certificate (or any interest therein)
may be acquired or held by any employee benefit or other plan (including an individual retirement account) that is subject to the Employee Retirement Income Security Act of 1974, as amended, or Section 4975 of the Internal Revenue Code of 1986, as
amended (each, a "Plan"), any trustee or other person acting on behalf of any Plan, or any other person using "Plan Assets" to effect such acquisition or holding.

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

                        IN WITNESS WHEREOF, the Sellers have caused this
Class B Certificate to be duly executed.

	 	CAPITAL ONE BANK
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	Name:

Title:
	 	 	 
	 	 	 
	 	CAPITAL ONE, F.S.B.
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	Name:

Title:

 

Dated: May 2, 2001

TRUSTEE'S CERTIFICATE OF AUTHENTICATION

                        This is one of the Class B Certificates described
in the within-mentioned Agreement and Series Supplement.

	 	THE BANK OF NEW YORK,
	 	 	as Trustee
	 	 	 
	 	By:

	

 
	 	 	Authorized Officer
	 	 	 
	 	 	 
	 	or	 
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	as Authenticating Agent

for the Trustee
	 	 	 
	 	 	 
	 	By:

	

 
	 	 	Authorized Officer

CAPITAL ONE MASTER TRUST

SERIES 2001-2

CLASS B FLOATING RATE ASSET BACKED CERTIFICATE

Summary of Terms and Conditions

                        The Receivables consist of Principal Receivables
which arise generally from the purchase of goods and services and amounts advanced to accountholders as cash advances and Finance Charge Receivables. This Class B Certificate is one of a Series of Certificates entitled "Capital One Master
Trust, Series 2001-2." The Series 2001-2 Certificates are being issued in two Classes, the first of which is known as the "Class A Floating Rate Asset Backed Certificates, Series 2001-2" (the "Class A Certificates") and the
second Class is known as the "Class B Floating Rate Asset Backed Certificates, Series 2001-2" (the "Class B Certificates"). In addition, as part of Series 2001-2, the Trust is creating a third Class of uncertificated interest in
the Trust which uncertificated interest, except as expressly provided in the Series Supplement, is deemed to be an "Investor Certificate" and is known as the "Collateral Interest, Series 2001-2" (the "Collateral
Interest"). This Class B Certificate represents a fractional undivided interest in certain assets of the Trust. The Trust Assets are allocated in part to the certificateholders of all outstanding Series (the "Certificateholders'
Interest") with the remainder allocated to the Seller's Interest. The aggregate interest represented by the Class B Certificates at any time in the Principal Receivables in the Trust shall not exceed an amount equal to the Class B Invested
Amount at such time. The Class B Initial Invested Amount is $120,000,000. The Class B Invested Amount on any date of determination will be an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal
payments made to the Class B Certificateholders on or prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Distribution Dates, minus (d) the aggregate amount of Reallocated Principal
Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) of the Series Supplement (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to subsection
4.06(c) of the Series Supplement), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced on all prior Distribution Dates pursuant to subsection 4.06(a) of the Series Supplement and plus (f) the
amount of Excess Spread and Excess Finance Charges allocated and available on all prior Distribution Dates pursuant to Section 4.07(d) of the Series Supplement for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c),
(d) and (e). Also, Capital One Bank and Capital One, F.S.B. have received an adjustment to the Sellers' Interest on the date hereof.

                        Subject to the terms and conditions of the
Agreement, the Sellers may from time to time direct the Trustee, on behalf of the Trust, to issue one or more new Series of Investor Certificates, which will represent fractional undivided interests in certain of the Trust Assets.

                        On each Payment Date, the Paying Agent shall
distribute to each Class B Certificateholder of record on the last day of the preceding calendar month (each, a "Record Date") such Class B Certificateholder's pro rata share of such amounts (including amounts on deposit in the Collection
Account and the Principal Funding Account) as are payable to the Class
B Certificateholders pursuant to the Agreement and the Series Supplement. Distributions with respect to this Class B Certificate will be made by check mailed to the address of the Class B Certificateholder of record appearing in the Certificate
Register without the presentation or surrender of this Class B Certificate or the making of any notation thereon (except for the final distribution in respect of this Class B Certificate) except that with respect to Class B Certificates registered
in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final payment of this Class B Certificate will be made only upon presentation and surrender of this
Class B Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Class B Certificateholders in accordance with the Agreement and the Series Supplement.

                        On any day occurring on or after the day on which
the Invested Amount is reduced to 5% or less of the Initial Invested Amount, a Seller (so long as such Seller is the Servicer or an Affiliate thereof) has the option to repurchase the Certificateholders' Interest in the Trust. The repurchase price
will be equal to (a) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. Following the deposit of
the Reassignment Amount in the Collection Account, the Class A Certificateholders, the Class B Certificateholders and the Collateral Interest Holder will not have any interest in the Receivables and the Class B Certificates will represent only the
right to receive such Reassignment Amount.

                        This Class B Certificate does not represent an
obligation of, or an interest in, the Sellers, the Servicer 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. This Class B Certificate
is limited in right of payment to certain Collections with respect to the Receivables (and certain other amounts), all as more specifically set forth hereinabove and in the Agreement and the Series Supplement.

                        The Agreement or any Supplement may, subject to
certain conditions, be amended by the Sellers, the Servicer and the Trustee without Certificateholder consent. The Trustee may, but shall not be obligated to, enter into any such amendment which affects the Trustee's rights, duties or immunities
under the Agreement or otherwise.

                        The Agreement or any Supplement may also be
amended from time to time by the Servicer, the Sellers and the Trustee, with the consent of the Holders of Investor Certificates evidencing not less than 66 2/3% of the aggregate unpaid principal amount of the Investor Certificates of all adversely
affected Series, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Agreement or any Supplement or of modifying in any manner the rights of the Investor Certificateholders;
provided, however, that no such amendment shall (i) reduce in any manner the amount of or delay the timing of any distributions to be made to Investor Certificateholders or deposits of amounts to be so distributed or the amount
available under any Series Enhancement without the consent of each affected Investor Certificateholder, (ii) change the definition of or the manner of calculating the interest of any Investor Certificateholder without the consent of each affected
Investor Certificateholder, (iii) reduce the aforesaid percentage required to consent to any such amendment without the consent of each Investor Certificateholder or (iv) adversely affect the rating of any Series or Class by each Rating Agency
without the consent of the Holders of Investor Certificates of such Series or Class evidencing not less than 66 2/3% of the aggregate
unpaid principal amount of the Investor Certificates of such Series or Class. The Trustee may, but shall not be obligated to, enter into any such amendment which affects the Trustee's rights, duties or immunities under the Agreement or
otherwise.

                        The Class B Certificates are issuable in minimum
denominations of $1,000 and integral multiples of $1,000. The transfer of this Class B Certificate shall be registered in the Certificate Register upon surrender of this Class B Certificate for registration of transfer at any office or agency
maintained by the Transfer Agent and Registrar accompanied by a written instrument of transfer, in a form satisfactory to the Trustee or the Transfer Agent and Registrar, duly executed by the Class B Certificateholder or such Class B
Certificateholder's attorney, and duly authorized in writing with such signature guaranteed, and thereupon one or more new Class B Certificates of authorized denominations and for the same aggregate fractional undivided interest will be issued to
the designated transferee or transferees.

                        As provided in the Agreement and subject to
certain limitations therein set forth, Class B Certificates are exchangeable for new Class B Certificates evidencing like aggregate fractional undivided interests as requested by the Class B Certificateholder surrendering such Class B Certificates.
No service charge may be imposed for any such exchange but the Servicer or Transfer Agent and Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith.

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

                        THIS CLASS B CERTIFICATE SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, 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.

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:

_____________________*

_____________________

 

___________________

(*
) NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Certificate in every particular, without alteration, enlargement or any change whatsoever.

EXHIBIT C

FORM OF MONTHLY SERVICING OFFICER'S CERTIFICATE

CAPITAL ONE BANK

CAPITAL ONE MASTER TRUST

SERIES 2001-2

                        The undersigned, a duly authorized representative
of Capital One Bank, as Servicer, pursuant to the Pooling and Servicing Agreement, dated as of September 30, 1993, as amended and restated as of April 9, 2001 (as amended and supplemented, the "Agreement"), as supplemented by the Series
2001-2 Supplement (as amended and supplemented, the "Series Supplement"), dated as of May 2, 2001, each among Capital One Bank, Capital One, F.S.B., as a Seller, and The Bank of New York, as Trustee, does hereby certify as
follows:

	 	                1.  Capitalized terms used in this Certificate have their respective meanings as
set forth in the Agreement or Series Supplement, as applicable.
	 	 
	 	                2.  Capital One Bank is, as of the date hereof, the Servicer under the
Agreement.
	 	 
	 	                3.  The undersigned is a Servicing Officer.
	 	 
	 	                4.  This Certificate relates to the Distribution Date occurring on
________.
	 	 
	 	                5.  As of the date hereof, to the best knowledge of the undersigned, the
Servicer has performed in all material respects all its obligations under the Agreement through the Monthly Period preceding such Distribution Date [or, if there has been a default in the performance of any such obligation, set forth in detail the
(i) nature of such default, (ii) the action taken by the Sellers and Servicer, if any, to remedy such default and (iii) the current status of each such default; if applicable, insert "None"].
	 	 
	 	                6.  As of the date hereof, to the best knowledge of the undersigned, no Pay Out
Event occurred on or prior to such Distribution Date. 
	 	 
	 	                7.  As of the date hereof, to the best knowledge of the undersigned, no Lien has
been placed on any of the Receivables other than pursuant to the Agreement [or, if there is a Lien, such Lien consists of_________].

                        IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this ______ day of __________, 20__. 

	 	CAPITAL ONE BANK
	 	     as Servicer
	 	 
	 	By:   ___________________________________               

        Name:

        Title:

 

 

EXHIBIT D

FORM OF INVESTMENT LETTER

[Date]

          Re:        Capital One Master Trust;

                         Purchases of Series 2001-2 Collateral
Interest

 Ladies and Gentlemen:

                        This letter (the "Investment Letter") is
delivered by the undersigned (the "Purchaser") pursuant to Section 10.07 of the Series 2001-2 Supplement, dated as of May 2, 2001 (the "Series Supplement") to the Pooling and Servicing Agreement, dated as of September 30, 1993,
as amended and restated as of April 9, 2001 (as amended and supplemented, the "Agreement"), each among The Bank of New York, as Trustee, Capital One, F.S.B., as Seller, and Capital One Bank, as Seller and Servicer. Capitalized terms used
herein without definition shall have the meanings set forth in the Agreement. The Purchaser represents to and agrees with the Seller as follows:

	 	(a)	The Purchaser has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment in the Collateral Interest
and is able to bear the economic risk of such investment.
	 	 	 
	 	(b)	The Purchaser is an "accredited investor," as defined in Rule 501, promulgated by the Securities and Exchange Commission (the "Commission") under the Securities
Act of 1933, as amended (the "Securities Act"), or is a sophisticated institutional investor. The Purchaser understands that the offering and sale of the Collateral Interest has not been and will not be registered under the Securities Act
and has not and will not be registered or qualified under any applicable "Blue Sky" law, and that the offering and sale of the Collateral Interest has not been reviewed by, passed on or submitted to any federal or state agency or
commission, securities exchange or other regulatory body.
	 	 	 
	 	(c)	The Purchaser is acquiring an interest in the Collateral Interest without a view to any distribution, resale or other transfer thereof except, with respect to any Collateral
Interest or any interest or participation therein, as contemplated in the following sentence. The Purchaser will not resell or otherwise transfer any interest or participation in the Collateral Interest, except in accordance with Section 10.07 of
the Series Supplement and (i) in a transaction exempt from the registration requirements of the Securities Act and applicable state securities or "blue sky" laws; (ii) to a Seller or any affiliate of a Seller; or (iii) to a person who the
Purchaser reasonably 

	 	 	believes is a qualified institutional buyer (within the meaning thereof in Rule 144A under the Securities Act) that is aware that the resale or other transfer is being made in
reliance upon Rule 144A. In connection therewith, the Purchaser hereby agrees that it will not resell or otherwise transfer the Collateral Interest or any interest therein unless the purchaser thereof provides to the addressee hereof a letter
substantially in the form hereof.
	 	 	 
	 	(d)	No portion of the Collateral Interest or any interest therein may be Transferred, and each Assignee will certify that it is not, (a) an "employee benefit plan" (as defined
in Section 3(3) of ERISA), including governmental plans and church plans, (b) any "plan" (as defined in Section 4975(e)(1) of the Code) including individual retirement accounts and Keogh plans, or (c) any other entity whose underlying
assets include "plan assets" (within the meaning of Department of Labor Regulation Section 2510.3-101, 29 C.F.R. § 2510.3-101 or otherwise under ERISA) by reason of a plan's investment in the entity, including, without limitation, an
insurance company general account.
	 	 	 
	 	(e)	This Investment Letter has been duly executed and delivered and constitutes the legal, valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance
with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable principles affecting the enforcement of creditors' rights generally and general principles of
equity.

  

	  	
Very truly yours,

	 	 
		
		[NAME OF PURCHASER]
	 	 
	 	 
		
		By:  ____________________________ 
			Name:

Title:
	 	 	 
			
			
	AGREED TO AS OF THE DATE FIRST

ABOVE WRITTEN:		
	 	 	 
			
	CAPITAL ONE BANK		
	 	 	 
	 	 	 
			
	By:  ___________________________ 		
		Name:

Title:		
				
				

	CAPITAL ONE, F.S.B.	 	 
			 	 
	By: ______________________________ 	 	 
		Name:

Title:EXHIBIT 10.1

EXHIBIT 10.1

(Multicurrency-Cross Border)

ISDA®

International Swap Dealers Association, Inc.

MASTER AGREEMENT

dated as of May 2, 2001

	
DEUTSCHE BANK AG NEW YORK BRANCH

("Party A")

	
and

	
THE BANK OF NEW YORK, acting as trustee for the

CAPITAL ONE MASTER TRUST

("Party B")

	 
 	 	 
 

have entered and/or anticipate entering into one or more transactions (each a "Transaction") that are or will be governed by this Master Agreement, which includes the schedule (the
"Schedule"), and the documents and other confirming evidence (each a "Confirmation") exchanged between the parties confirming those Transactions.

Accordingly, the parties agree as follows:—

	1.	Interpretation
	 	 	 	 	 
	(a)           Definitions. The terms defined in Section 14 and in the Schedule will have the meanings therein
specified for the purpose of this Master Agreement.
	 	 	 	 	 
	(b)           Inconsistency. In the event of any inconsistency between the provisions of the Schedule and the other
provisions of this Master Agreement, the Schedule will prevail. In the event of any inconsistency between the provisions of any Confirmation and this Master Agreement (including the Schedule), such Confirmation will prevail for the purpose of the
relevant Transaction.
	 	 	 	 	 
	(c)           Single Agreement. All Transactions are entered into in reliance on the fact that this Master Agreement
and all Confirmations form a single agreement between the parties (collectively referred to as this "Agreement"), and the parties would not otherwise enter into any Transactions.
	 	 	 	 	 
	2.	Obligations
	 	 	 	 	 
	(a)	General Conditions.
	 	 	 	 	 
	 	
(i)      Each party will make each payment or delivery specified in each Confirmation to be made by it, subject to the other provisions of this Agreement.

	 	 	 	 	 
	 	(ii)     Payments under this Agreement will be made on the due date for value on that date in the place of the account specified in the relevant Confirmation or
otherwise pursuant to this Agreement, in freely transferable funds and in the manner customary for payments in the required currency. Where settlement is by delivery (that is, other than by payment), such delivery will be made for receipt on the due
date in the manner customary for the relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in this Agreement.

	 	(iii)     Each obligation of each party under Section 2(a)(i) is subject to (1) the condition precedent that no Event of Default or Potential Event of Default
with respect to the other party has occurred and is continuing, (2) the condition precedent that no Early Termination Date in respect of the relevant Transaction has occurred or been effectively designated and (3) each other applicable condition
precedent specified in this Agreement.
	 	 	 	 	 
	(b)           Change of Account. Either party may change its account for receiving a payment or delivery by giving
notice to the other party at least five Local Business Days prior to the scheduled date for the payment or delivery to which such change applies unless such other party gives timely notice of a reasonable objection to such change.
	 	 	 	 	 
	(c)           Netting. If on any date amounts would otherwise be payable:—
	 	 	 	 	 
	 	(i)    in the same currency; and
	 	 	 	 	 
	 	(ii)   in respect of the same Transaction,
	 	 	 	 	 
	by each party to the other, then, on such date, each party's obligation to make payment of any such amount will be automatically satisfied and discharged and, if the aggregate
amount that would otherwise have been payable by one party exceeds the aggregate amount that would otherwise have been payable by the other party, replaced by an obligation upon the party by whom the larger aggregate amount would have been payable
to pay to the other party the excess of the larger aggregate amount over the smaller aggregate amount.
	 	 	 	 	 
	
The parties may elect in respect of two or more Transactions that a net amount will be determined in respect of all amounts payable on the same date in the same currency in respect of such
Transactions, regardless of whether such amounts are payable in respect of the same Transaction. The election may be made in the Schedule or a Confirmation by specifying that subparagraph (ii) above will not apply to the Transactions identified as
being subject to the election, together with the starting date (in which case subparagraph (ii) above will not, or will cease to, apply to such Transactions from such date). This election may be made separately for different groups of Transactions
and will apply separately to each pairing of Offices through which the parties make and receive payments or deliveries.

	 	 	 	 	 
	(d)	Deduction or Withholding for Tax.
	 	 	 	 	 
	 	(i)      Gross-Up. All payments under this Agreement will be made without any deduction or withholding for or on account of any Tax unless
such deduction or withholding is required by any applicable law, as modified by the practice of any relevant governmental revenue authority, then in effect. If a party is so required to deduct or withhold, then that party ("X")
will:—
	 	 	 	 	 
	 	 	(1)     promptly notify the other party ("Y") of such requirement;
	 	 	 	 	 
	 	 	
(2)     pay to the relevant authorities the full amount required to be deducted or withheld (including the full amount required to be deducted or withheld from any additional
amount paid by X to Y under this Section 2(d)) promptly upon the earlier of determining that such deduction or withholding is required or receiving notice that such amount has been assessed
against Y;

	 	 	 	 	 
	 	 	(3)     promptly forward to Y an official receipt (or a certified copy), or other documentation reasonably acceptable to Y, evidencing such payment to such
authorities; and
	 	 	 	 	 
	 	 	(4)     if such Tax is an Indemnifiable Tax, pay to Y, in addition to the payment to which Y is otherwise entitled under this Agreement, such additional amount
as is necessary to ensure that the net amount actually received by Y (free and clear of Indemnifiable Taxes, whether assessed against X or Y) will equal the full amount Y would have received had no such deduction or withholding been required.
However, X will not be required to pay any additional amount to Y to the extent that it would not be required to be paid but for:—
	 	 	 	 	 
	 	 	 	
(A)     the failure by Y to comply with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d); or

	 	 	 	(B)     the failure of a representation made by Y pursuant to Section 3(f) to be accurate and true unless such failure would not have occurred but for (I) any
action taken by a taxing authority, or brought in a court of competent jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or
(II) a Change in Tax Law.
	 	 	 	 	 
	 	(ii)      Liability. If:—
	 	 	 	 	 
	 	 	(1)     X is required by any applicable law, as modified by the practice of any relevant governmental revenue authority, to make any deduction or withholding in
respect of which X would not be required to pay an additional amount to Y under Section 2(d)(i)(4);
	 	 	 	 	 
	 	 	(2)     X does not so deduct or withhold; and
	 	 	 	 	 
	 	 	(3)     a liability resulting from such Tax is assessed directly against X,
	 	 	 	 	 
	 	then, except to the extent Y has satisfied or then satisfies the liability resulting from such Tax, Y will promptly pay to X the amount of such liability (including any related
liability for interest, but including any related liability for penalties only if Y has failed to comply with or perform any agreement contained in Section 4(a)(i), 4(a)(iii) or 4(d)).
	 	 	 	 	 
	(e)           Default Interest; Other Amounts. Prior to the occurrence or effective designation of an
Early Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after
judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such
interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the
performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.
	 	 	 	 	 
	3.	Representations
	 	 	 	 	 
	Each party represents to the other party (which representations will be deemed to be repeated by each party on each date on which a Transaction is entered into and, in the case of
the representations in Section 3(f), at all times until the termination of this Agreement) that:—
	 	 	 	 	 
	(a)	Basic Representations.
	 	 	 	 	 
	 	(i)      Status. It is duly organized and validly existing under the laws of the jurisdiction of its organization
or incorporation and, if relevant under such laws, in good standing;
	 	 	 	 	 
	 	(ii)      Powers. It has the power to execute this Agreement and any other documentation relating to this
Agreement to which it is a party, to deliver this Agreement and any other documentation relating to this Agreement that it is required by this Agreement to deliver and to perform its obligations under this Agreement and any obligations it has under
any Credit Support Document to which it is a party and has taken all necessary action to authorize such execution, delivery and performance;
	 	 	 	 	 
	 	(iii)      No Violation or Conflict. Such execution, delivery and performance do not violate or conflict with any
law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its
assets;
	 	 	 	 	 
	 	(iv)      Consents. All governmental and other consents that are required to have been obtained by it with respect
to this Agreement or any Credit Support Document to which it is a party have been obtained and are in full force and effect and all conditions of any such consents have been complied with; and

 

	 	(v)      Obligations Binding. Its obligations under this Agreement and any Credit Support Document to which it is
a party constitute its legal, valid and binding obligations, enforceable in accordance with their respective terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors' rights generally and
subject, as to enforceability, to equitable principles of general application (regardless of whether enforcement is sought in a proceeding in equity or at law)).
	 	 	 	 	 
	(b)           Absence of Certain Events. No Event of Default or Potential Event of
Default or, to its knowledge, Termination Event with respect to it has occurred and is continuing and no such event or circumstance would occur as a result of its entering into or performing its obligations under this Agreement or any Credit Support
Document to which it is a party.
	 	 	 	 	 
	(c)           Absence of Litigation. There is not pending or, to its knowledge,
threatened against it or any of its Affiliates any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, agency or official or any arbitrator that is likely to affect the legality, validity or
enforceability against it of this Agreement or any Credit Support Document to which it is a party or its ability to perform its obligations under this Agreement or such Credit Support Document.
	 	 	 	 	 
	(d)           Accuracy of Specified Information. All applicable information that is
furnished in writing by or on behalf of it to the other party and is identified for the purpose of this Section 3(d) in the Schedule is, as of the date of the information, true, accurate and complete in every material aspect.
	 	 	 	 	 
	(e)           Payer Tax Representation. Each representation specified in the Schedule as
being made by it for the purpose of this Section 3(e) is accurate and true.
	 	 	 	 	 
	(f)           Payee Tax Representations. Each representation specified in the Schedule as
being made by it for the purpose of this Section 3(f) is accurate and true.
	 	 	 	 	 
	4.	Agreements
	 	 	 	 	 
	Each party agrees with the other that, so long as either party has or may have any obligation under this Agreement or under any Credit Support Document to which it is a
party:—
	 	 	 	 	 
	(a)           Furnish Specified Information. It will deliver to the other party or, in
certain cases under subparagraph (iii) below, to such government or taxing authority as the other party reasonably directs:—
	 	 	 	 	 
	 	(i)    any forms, documents or certificates relating to taxation specified in the Schedule or any Confirmation;
	 	 	 	 	 
	 	(ii)   any other documents specified in the Schedule or any Confirmation; and
	 	 	 	 	 
	 	(iii)  upon reasonable demand by such other party, any form or document that may be required or reasonably requested in writing in order to allow such other party or its Credit
Support Provider to make a payment under this Agreement or any applicable Credit Support Document without any deduction or withholding for or on account of any Tax or with such deduction or withholding at a reduced rate (so long as the completion,
execution or submission of such form or document would not materially prejudice the legal or commercial position of the party in receipt of such demand), with any such form or document to be accurate and completed in a manner reasonably satisfactory
to such other party and to be executed and to be delivered with any reasonably required certification,
	 	 	 	 	 
	in each case by the date specified in the Schedule or such Confirmation or, if none is specified, as soon as reasonably practicable.
	 	 	 	 	 
	(b)           Maintain Authorizations. It will use all reasonable efforts to maintain in
full force and effect all consents of any governmental or other authority that are required to be obtained by it with respect to this Agreement or any Credit Support Document to which it is a party and will use all reasonable efforts to obtain any
that may become necessary in the future.
	 	 	 	 	 
	(c)           Comply with Laws. It will comply in all material respects with all
applicable laws and orders to which it may be subject if failure so to comply would materially impair its ability to perform its obligations under this Agreement or any Credit Support Document to which it is a party.

	(d)           Tax Agreement. It will give notice of any failure of a
representation made by it under Section 3(f) to be accurate and true promptly upon learning of such failure.
	 	 	 	 	 
	(e)           Payment of Stamp Tax. Subject to Section 11, it will pay any
Stamp Tax levied or imposed upon it or in respect of its execution or performance of this Agreement by a jurisdiction in which it is incorporated, organized, managed and controlled, or considered to have its seat, or in which a branch or office
through which it is acting for the purpose of this Agreement is located ("Stamp Tax Jurisdiction") and will indemnify the other party against any Stamp Tax levied or imposed upon the other party or in respect of the other party's execution
or performance of this Agreement by any such Stamp Tax Jurisdiction which is not also a Stamp Tax Jurisdiction with respect to the other party.
	 	 	 	 	 
	5.	Events of Default and Termination Events
	 	 	 	 	 
	(a)           Events of Default. The occurrence at any time with respect to
a party or, if applicable, any Credit Support Provider of such party or any Specified Entity of such party of any of the following events constitutes an event of default (an "Event of Default") with respect to such party:—
	 	 	 	 	 
	 	(i)      Failure to Pay or Deliver. Failure by the party to make, when due, any payment under this Agreement or delivery under Section 2(a)(i)
or 2(e) required to be made by it if such failure is not remedied on or before the third Local Business Day after notice of such failure is given to the party;
	 	 	 	 	 
	 	(ii)      Breach of Agreement. Failure by the party to comply with or perform any agreement or obligation (other than an obligation to make
any payment under this Agreement or delivery under Section 2(a)(i) or 2(e) or to give notice of a Termination Event or any agreement or obligation under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with or performed by the party in accordance
with this Agreement if such failure is not remedied on or before the thirtieth day after notice of such failure is given to the party;
	 	 	 	 	 
	 	(iii)      Credit Support Default.
	 	 	 	 	 
	 	 	(1)     Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed
by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;
	 	 	 	 	 
	 	 	(2)     the expiration or termination of such Credit Support Document or the failing or ceasing of such Credit Support Document to be in full force and effect
for the purpose of this Agreement (in either case other than in accordance with its terms) prior to the satisfaction of all obligations of such party under each Transaction to which such Credit Support Document relates without the written consent of
the other party; or
	 	 	 	 	 
	 	 	(3)    the party or such Credit Support Provider disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, such Credit Support
Document;
	 	 	 	 	 
	 	(iv)      Misrepresentation. A representation (other than a representation under Section 3(e) or (f)) made or repeated or deemed to have been
made or repeated by the party or any Credit Support Provider of such party in this Agreement or any Credit Support Document proves to have been incorrect or misleading in any material respect when made or repeated or deemed to have been made or
repeated;
	 	 	 	 	 
	 	(v)      Default under Specified Transaction. The party, any Credit Support Provider of such party or any applicable Specified Entity of such
party (1) defaults under a Specified Transaction and, after giving effect to any applicable notice requirement or grace period, there occurs a liquidation of, an acceleration of obligations under, or an early termination of, that Specified
Transaction, (2) defaults, after giving effect to any applicable notice requirement or grace period, in making any payment or delivery due on the last payment, delivery or exchange date of, or any payment on early termination of, a Specified
Transaction (or such default continues for at least three Local Business Days if there is no applicable notice requirement or grace period) or (3) disaffirms, disclaims, repudiates or rejects, in whole or in part, a Specified Transaction (or such
action is taken by any person or entity appointed or empowered to operate it or act on its behalf);

	 	(vi)      Cross Default. If "Cross Default" is specified in the Schedule as applying to the party, the occurrence or
existence of (1) a default, event of default or other similar condition or event (however described) in respect of such party, any Credit Support Provider of such party or any applicable
Specified Entity of such party under one or more agreements or instruments relating to Specified Indebtedness of any of them (individually or collectively) in an aggregate amount of not less than the applicable Threshold Amount (as specified in the
Schedule) which has resulted in such Specified Indebtedness becoming, or becoming capable at such time of being declared, due and payable under such agreements or instruments, before it would otherwise have been due and payable or (2) a default by
such party, such Credit Support Provider or such Specified Entity (individually or collectively) in making one or more payments on the due date thereof in an aggregate amount of not less than the applicable Threshold Amount under such agreements or
instruments (after giving effect to any applicable notice requirement or grace period);
	 	 	 	 	 
	 	(vii)      Bankruptcy. The party, any Credit Support Provider of such party or any applicable Specified Entity of such
party:—
	 	 	 	 	 
	 	 	 	(1)     is dissolved (other than pursuant to a consolidation, amalgamation or merger); (2) becomes insolvent or is unable to pay its debts or fails or admits in
writing its inability generally to pay its debts as they become due; (3) makes a general assignment, arrangement or composition with or for the benefit of its creditors; (4) institutes or has instituted against it a proceeding seeking a judgment of
insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is presented for its winding-up or liquidation, and, in the case of any such proceeding or petition
instituted or presented against it, such proceeding or petition (A) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (B) is not dismissed,
discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof; (5) has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or
merger); (6) seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets; (7) has a secured party take
possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession,
or any such process is not dismissed, discharged, stayed or restrained, in each case within 30 days thereafter; (8) causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect to
any of the events specified in clauses (1) to (7) (inclusive); or (9) takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts; or
	 	 	 	 	 
	 	(viii)      Merger Without Assumption. The party or any Credit Support Provider of such party consolidates or amalgamates with,
or merges with or into, or transfers all or substantially all its assets to, another entity and, at the time of such consolidation, amalgamation, merger or transfer:—
	 	 	 	 	 
	 	 	 	(1)     the resulting, surviving or transferee entity fails to assume all the obligations of such party or such Credit Support Provider under this Agreement or
any Credit Support Document to which it or its predecessor was a party by operation of law or pursuant to an agreement reasonably satisfactory to the other party to this Agreement; or
	 	 	 	 	 
	 	 	 	(2)     the benefits of any Credit Support Document fail to extend (without the consent of the other party) to the performance by such resulting, surviving or
transferee entity of its obligations under this Agreement.
	 	 	 	 	 
	(b)           Termination Events. The occurrence at any time with respect to a party or, if applicable, any Credit
Support Provider of such party or any Specified Entity of such party of any event specified below constitutes an Illegality if the event is specified in (i) below, a Tax Event if the event is specified in (ii) below or a Tax Event Upon Merger if the
event is specified in (iii) below, and, if specified to be applicable, a Credit Event Upon Merger if the event is specified pursuant to (iv) below or an Additional Termination Event if the event is specified pursuant to (v) below:—

	 	(i)      Illegality. Due to the adoption of, or any change in, any applicable law after the date on which a
Transaction is entered into, or due to the promulgation of, or any change in, the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law after such date, it becomes unlawful (other than as a
result of a breach by the party of Section 4(b)) for such party (which will be the Affected Party):—
	 	 	 	 	 
	 	 	(1)     to perform any absolute or contingent obligation to make a payment or delivery or to receive a payment or delivery in respect of such Transaction or to
comply with any other material provision of this Agreement relating to such Transaction; or
	 	 	 	 	 
	 	 	(2)     to perform, or for any Credit Support Provider of such party to perform, any contingent or other obligation which the party (or such Credit Support
Provider) has under any Credit Support Document relating to such Transaction;
	 	 	 	 	 
	 	(ii)      Tax Event. Due to (x) any action taken by a taxing authority, or brought in a court of competent
jurisdiction, on or after the date on which a Transaction is entered into (regardless of whether such action is taken or brought with respect to a party to this Agreement) or (y) a Change in Tax Law, the party (which will be the Affected Party)
will, or there is a substantial likelihood that it will, on the next succeeding Scheduled Payment Date (1) be required to pay to the other party an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of
interest under Section 2(e), 6(d)(ii) or 6(e)) or (2) receive a payment from which an amount is required to be deducted or withheld for or on account of a Tax (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) and no additional
amount is required to be paid in respect of such Tax under Section 2(d)(i)(4) (other than by reason of Section 2(d)(i)(4)(A) or (B));
	 	 	 	 	 
	 	(iii)      Tax Event Upon Merger. The party (the "Burdened Party") on the next succeeding Scheduled
Payment Date will either (1) be required to pay an additional amount in respect of an Indemnifiable Tax under Section 2(d)(i)(4) (except in respect of interest under Section 2(e), 6(d)(ii) or 6(e)) or (2) receive a payment from which an amount has
been deducted or withheld for or on account of any Indemnifiable Tax in respect of which the other party is not required to pay an additional amount (other than by reason of Section 2(d)(i)(4)(A) or (B)), in either case as a result of a party
consolidating or amalgamating with, or merging with or into, or transferring all or substantially all its assets to, another entity (which will be the Affected Party) where such action does not constitute an event described in Section
5(a)(viii);
	 	 	 	 	 
	 	(iv)      Credit Event Upon Merger. If "Credit Event Upon Merger" is specified in the Schedule as
applying to the party, such party ("X"), any Credit Support Provider of X or any applicable Specified Entity of X consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to, another entity
and such action does not constitute an event described in Section 5(a)(viii) but the creditworthiness of the resulting, surviving or transferee entity is materially weaker than that of X, such Credit Support Provider or such Specified Entity, as the
case may be, immediately prior to such action (and, in such event, X or its successor or transferee, as appropriate, will be the Affected Party); or
	 	 	 	 	 
	 	(v)      Additional Termination Event. If any "Additional Termination Event" is specified in the
Schedule or any Confirmation as applying, the occurrence of such event (and, in such event, the Affected Party or Affected Parties shall be as specified for such Additional Termination Event in the Schedule or such Confirmation).
	 	 	 	 	 
	(c)           Event of Default and Illegality. If an event or circumstance which would otherwise
constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

	6.	Early Termination
	 	 	 	 	 
	(a)           Right to Terminate Following Event of Default. If at any time an Event of
Default with respect to a party (the "Defaulting Party") has occurred and is then continuing, the other party (the "Non-defaulting Party") may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event
of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all outstanding Transactions. If, however, "Automatic Early Termination" is specified in the Schedule as applying to a
party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent
analogous thereto, (8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of Default specified in Section
5(a)(vii)(4) or, to the extent analogous thereto, (8).
	 	 	 	 	 
	(b)           Right to Terminate Following Termination Event.
	 	 	 	 	 
	 	(i)      Notice. If a Termination Event occurs, an Affected Party will, promptly upon becoming aware
of it, notify the other party, specifying the nature of that Termination Event and each Affected Transaction and will also give such other information about that Termination Event as the other party may reasonably require.
	 	 	 	 	 
	 	(ii)      Transfer to Avoid Termination Event. If either an Illegality under Section 5(b)(i)(1) or a
Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section
6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this
Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist.
	 	 	 	 	 
	 	If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such
a transfer within 30 days after the notice is given under Section 6(b)(i).
	 	 	 	 	 
	 	Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if
such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.
	 	 	 	 	 
	 	(iii)      Two Affected Parties. If an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and
there are two Affected Parties, each party will use all reasonable efforts to reach agreement within 30 days after notice thereof is given under Section 6(b)(i) on action to avoid that Termination Event.
	 	 	 	 	 
	 	(iv)      Right to Terminate. If:—
	 	 	 	 	 
	 	 	(1)     a transfer under Section 6(b)(ii) or an agreement under Section 6(b)(iii), as the case may be, has not been effected with respect to all Affected
Transactions within 30 days after an Affected Party gives notice under Section 6(b)(i); or
	 	 	 	 	 
	 	 	(2)     an Illegality under Section 5(b)(i)(2), a Credit Event Upon Merger or an Additional Termination Event occurs, or a Tax Event Upon Merger occurs and the
Burdened Party is not the Affected Party,
	 	 	 	 	 
	 	either party in the case of an Illegality, the Burdened Party in the case of a Tax Event Upon Merger, any Affected Party in the case of a Tax Event or an Additional Termination
Event if there is more than one Affected Party, or the party which is not the Affected Party in the case of a Credit Event Upon Merger or an Additional Termination Event if there is only one Affected Party may, by not more than 20 days notice to the
other party and provided that the relevant Termination Event is then continuing, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all Affected Transactions.
	 	 	 	 	 
	(c)	Effect of Designation.

	 	(i)      If notice designating an Early Termination Date is given under Section 6(a) or (b), the
Early Termination Date will occur on the date so designated, whether or not the relevant Event of Default or Termination Event is then continuing.
	 	 	 	 	 
	 	(ii)      Upon the occurrence or effective designation of an Early Termination Date, no further payments or deliveries under Section 2(a)(i) or 2(e) in
respect of the Terminated Transactions will be required to be made, but without prejudice to the other provisions of this Agreement. The amount, if any, payable in respect of an Early Termination Date shall be determined pursuant to Section
6(e).
	 	 	 	 	 
	(d)	Calculations.
	 	 	 	 	 
	 	(i)      Statement. On or as soon as reasonably practicable following the occurrence
of an Early Termination Date, each party will make the calculations on its part, if any, contemplated by Section 6(e) and will provide to the other party a statement (1) showing, in reasonable detail, such calculations (including all relevant
quotations and specifying any amount payable under Section 6(e)) and (2) giving details of the relevant account to which any amount payable to it is to be paid. In the absence of written confirmation from the source of a quotation obtained in
determining a Market Quotation, the records of the party obtaining such quotation will be conclusive evidence of the existence and accuracy of such quotation.
	 	 	 	 	 
	 	(ii)      Payment Date. An amount calculated as being due in respect of any Early
Termination Date under Section 6(e) will be payable on the day that notice of the amount payable is effective (in the case of an Early Termination Date which is designated or occurs as a result of an Event of Default) and on the day which is two
Local Business Days after the day on which notice of the amount payable is effective (in the case of an Early Termination Date which is designated as a result of a Termination Event). Such amount will be paid together with (to the extent permitted
under applicable law) interest thereon (before as well as after judgment) in the Termination Currency, from (and including) the relevant Early Termination Date to (but excluding) the date such amount is paid, at the Applicable Rate. Such interest
will be calculated on the basis of daily compounding and the actual number of days elapsed.
	 	 	 	 	 
	(e)           Payments on Early Termination. If an Early Termination Date
occurs, the following provisions shall apply based on the parties' election in the Schedule of a payment measure, either "Market Quotation" or "Loss", and a payment method, either the "First Method" or the "Second
Method". If the parties fail to designate a payment measure or payment method in the Schedule, it will be deemed that "Market Quotation" or the "Second Method", as the case may be, shall apply. The amount, if any, payable in
respect of an Early Termination Date and determined pursuant to this Section will be subject to any Set-off.
	 	 	 	 	 
	 	(i)      Events of Default. If the Early Termination Date results from an Event of
Default:-
	 	 	 	 	 
	 	 	(1)    First Method and Market Quotation. If the First Method and Market Quotation apply, the Defaulting Party will pay to the Non-defaulting Party the excess,
if a positive number, of (A) the sum of the Settlement Amount (determined by the Non-defaulting Party) in respect of the Terminated Transactions and the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party over (B)
the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party.
	 	 	 	 	 
	 	 	(2)     First Method and Loss. If the First Method and Loss apply, the Defaulting Party will pay to the Non-defaulting Party, if a positive number, the
Non-defaulting Party's Loss in respect of this Agreement.
	 	 	 	 	 
	 	 	(3)     Second Method and Market Quotation. If the Second Method and Market Quotation apply, an amount will be payable equal to (A) the sum of the
Settlement Amount (determined by the Non-defaulting Party) in respect of the Terminated Transactions and the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party less (B) the Termination Currency Equivalent of the
Unpaid Amounts owing to the Defaulting Party. If that amount is a positive number, the Defaulting Party will pay it to the Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay the absolute value of that amount to the
Defaulting Party.

	 	 	(4)     Second Method and Loss. If the Second Method and Loss apply, an amount will be payable equal to the Non-defaulting Party's Loss in respect of this
Agreement. If that amount is a positive number, the Defaulting Party will pay it to the Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay the absolute value of that amount to the Defaulting Party.
	 	 	 	 	 
	 	(ii)      Termination Events. If the Early Termination Date results from
a Termination Event:—
	 	 	 	 	 
	 	 	(1)     One Affected Party. If there is one Affected Party, the amount payable will be determined in accordance with Section 6(e)(i)(3), if Market
Quotation applies, or Section 6(e)(i)(4), if Loss applies, except that, in either case, references to the Defaulting Party and to the Non-defaulting Party will be deemed to be references to the Affected Party and the party which is not the Affected
Party, respectively, and, if Loss applies and fewer than all the Transactions are being terminated, Loss shall be calculated in respect of all Terminated Transactions.
	 	 	 	 	 
	 	 	(2)     Two Affected Parties. If there are two Affected Parties:—
	 	 	 	 	 
	 	 	 	(A) if Market Quotation applies, each party will determine a Settlement Amount in respect of the Terminated Transactions, and an amount will be payable equal to (I) the sum of (a)
one-half of the difference between the Settlement Amount of the party with the higher Settlement Amount ("X") and the Settlement Amount of the party with the lower Settlement Amount ("Y") and (b) the Termination Currency
Equivalent of the Unpaid Amounts owing to X less (II) the Termination Currency Equivalent of the Unpaid Amounts owing to Y; and
	 	 	 	 	 
	 	 	 	(B) if Loss applies, each party will determine its Loss in respect of this Agreement (or, if fewer than all the Transactions are being terminated, in respect of all Terminated
Transactions) and an amount will be payable equal to one-half of the difference between the Loss of the party with the higher Loss ("X") and the Loss of the party with the lower Loss ("Y").
	 	 	 	 	 
	 	 	If the amount payable is a positive number, Y will pay it to X; if it is a negative number, X will pay the absolute value of that amount to Y.
	 	 	 	 	 
	 	(iii)      Adjustment for Bankruptcy. In circumstances where an Early
Termination Date occurs because "Automatic Early Termination" applies in respect of a party, the amount determined under this Section 6(e) will be subject to such adjustments as are appropriate and permitted by law to reflect any payments
or deliveries made by one party to the other under this Agreement (and retained by such other party) during the period from the relevant Early Termination Date to the date for payment determined under Section 6(d)(ii).
	 	 	 	 	 
	 	(iv)      Pre-Estimate. The parties agree that if Market Quotation
applies an amount recoverable under this Section 6(e) is a reasonable pre-estimate of loss and not a penalty. Such amount is payable for the loss of bargain and the loss of protection against future risks and except as otherwise provided in this
Agreement neither party will be entitled to recover any additional damages as a consequence of such losses.
	 	 	 	 	 
	7.	Transfer
	 	 	 	 	 
	Subject to Section 6(b)(ii), neither this Agreement nor any interest or obligation in or under this Agreement may be transferred (whether by way of security or otherwise) by either
party without the prior written consent of the other party, except that:—
	 	 	 	 	 
	(a)           a party may make such a transfer of this Agreement pursuant
to a consolidation or amalgamation with, or merger with or into, or transfer of all or substantially all its assets to, another entity (but without prejudice to any other right or remedy under this Agreement); and
	 	 	 	 	 
	(b)           a party may make such a transfer of all or any part of its
interest in any amount payable to it from a Defaulting Party under Section 6(e).
	 	 	 	 	 
	Any purported transfer that is not in compliance with this Section will be void.
	 	 	 	 	 
	8.	Contractual Currency

	(a)           Payment in the Contractual Currency. Each
payment under this Agreement will be made in the relevant currency specified in this Agreement for that payment (the "Contractual Currency"). To the extent permitted by applicable law, any obligation to make payments under this Agreement
in the Contractual Currency will not be discharged or satisfied by any tender in any currency other than the Contractual Currency, except to the extent such tender results in the actual receipt by the party to which payment is owed, acting in a
reasonable manner and in good faith in converting the currency so tendered into the Contractual Currency, of the full amount in the Contractual Currency of all amounts payable in respect of this Agreement. If for any reason the amount in the
Contractual Currency so received falls short of the amount in the Contractual Currency payable in respect of this Agreement, the party required to make the payment will, to the extent permitted by applicable law, immediately pay such additional
amount in the Contractual Currency as may be necessary to compensate for the shortfall. If for any reason the amount in the Contractual Currency so received exceeds the amount in the Contractual Currency payable in respect of this Agreement, the
party receiving the payment will refund promptly the amount of such excess.
	 	 	 	 	 
	(b)           Judgments. To the extent permitted by
applicable law, if any judgment or order expressed in a currency other than the Contractual Currency is rendered (i) for the payment of any amount owing in respect of this Agreement, (ii) for the payment of any amount relating to any early
termination in respect of this Agreement or (iii) in respect of a judgment or order of another court for the payment of any amount described in (i) or (ii) above, the party seeking recovery, after recovery in full of the aggregate amount to which
such party is entitled pursuant to the judgment or order, will be entitled to receive immediately from the other party the amount of any shortfall of the Contractual Currency received by such party as a consequence of sums paid in such other
currency and will refund promptly to the other party any excess of the Contractual Currency received by such party as a consequence of sums paid in such other currency if such shortfall or such excess arises or results from any variation between the
rate of exchange at which the Contractual Currency is converted into the currency of the judgment or order for the purposes of such judgment or order and the rate of exchange at which such party is able, acting in a reasonable manner and in good
faith in converting the currency received into the Contractual Currency, to purchase the Contractual Currency with the amount of the currency of the judgment or order actually received by such party. The term "rate of exchange" includes,
without limitation, any premiums and costs of exchange payable in connection with the purchase of or conversion into the Contractual Currency.
	 	 	 	 	 
	(c)           Separate Indemnities. To the extent permitted
by applicable law, these indemnities constitute separate and independent obligations from the other obligations in this Agreement, will be enforceable as separate and independent causes of action, will apply notwithstanding any indulgence granted by
the party to which any payment is owed and will not be affected by judgment being obtained or claim or proof being made for any other sums payable in respect of this Agreement.
	 	 	 	 	 
	(d)           Evidence of Loss. For the purpose of this
Section 8, it will be sufficient for a party to demonstrate that it would have suffered a loss had an actual exchange or purchase been made.
	 	 	 	 	 
	9.	Miscellaneous
	 	 	 	 	 
	(a)           Entire Agreement. This Agreement constitutes
the entire agreement and understanding of the parties with respect to its subject matter and supersedes all oral communication and prior writings with respect thereto.
	 	 	 	 	 
	(b)           Amendments. No amendment, modification or
waiver in respect of this Agreement will be effective unless in writing (including a writing evidenced by a facsimile transmission) and executed by each of the parties or confirmed by an exchange of telexes or electronic messages on an electronic
messaging system.
	 	 	 	 	 
	(c)           Survival of Obligations. Without prejudice to
Sections 2(a)(iii) and 6(c)(ii), the obligations of the parties under this Agreement will survive the termination of any Transaction.
	 	 	 	 	 
	(d)           Remedies Cumulative. Except as provided in this
Agreement, the rights, powers, remedies and privileges provided in this Agreement are cumulative and not exclusive of any rights, powers, remedies and privileges provided by law.
	 	 	 	 	 
	(e)           Counterparts and Confirmations.
	 	 	 	 	 
	 	(i)      This Agreement (and each amendment, modification and waiver in
respect of it) may be executed and delivered in counterparts (including by facsimile transmission), each of which will be deemed an original.

 

	 	(ii)      The parties intend that they are legally bound by the terms of each Transaction from the moment they agree to those terms (whether orally or
otherwise). A Confirmation shall be entered into as soon as practicable and may be executed and delivered in counterparts (including by facsimile transmission) or be created by an exchange of telexes or by an exchange of electronic messages on an
electronic messaging system, which in each case will be sufficient for all purposes to evidence a binding supplement to this Agreement. The parties will specify therein or through another effective means that any such counterpart, telex or
electronic message constitutes a Confirmation.
	 	 	 	 	 
	(f)           No Waiver of Rights. A failure or
delay in exercising any right, power or privilege in respect of this Agreement will not be presumed to operate as a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any subsequent or further
exercise, of that right, power or privilege or the exercise of any other right, power or privilege.
	 	 	 	 	 
	(g)           Headings. The headings used in
this Agreement are for convenience of reference only and are not to affect the construction of or to be taken into consideration in interpreting this Agreement.
	 	 	 	 	 
	10. 	Offices; Multibranch Parties
	 	 	 	 	 
	(a)           If Section 10(a) is specified in the Schedule
as applying, each party that enters into a Transaction through an Office other than its head or home office represents to the other party that, notwithstanding the place of booking office or jurisdiction of incorporation or organization of such
party, the obligations of such party are the same as if it had entered into the Transaction through its head or home office. This representation will be deemed to be repeated by such party on each date on which a Transaction is entered
into.
	 	 	 	 	 
	(b)           Neither party may change the Office through
which it makes and receives payments or deliveries for the purpose of a Transaction without the prior written consent of the other party.
	 	 	 	 	 
	(c)           If a party is specified as a Multibranch Party
in the Schedule, such Multibranch Party may make and receive payments or deliveries under any Transaction through any Office listed in the Schedule, and the Office through which it makes and receives payments or deliveries with respect to a
Transaction will be specified in the relevant Confirmation.
	 	 	 	 	 
	11.	Expenses
	 	 	 	 	 
	A Defaulting Party will, on demand, indemnify and hold harmless the other party for and against all reasonable out-of-pocket expenses, including legal fees and Stamp Tax, incurred
by such other party by reason of the enforcement and protection of its rights under this Agreement or any Credit Support Document to which the Defaulting Party is a party or by reason of the early termination of any Transaction, including, but not
limited to, costs of collection.
	 	 	 	 	 
	12.	Notices
	 	 	 	 	 
	(a)           Effectiveness. Any notice or
other communication in respect of this Agreement may be given in any manner set forth below (except that a notice or other communication under Section 5 or 6 may not be given by facsimile transmission or electronic messaging system) to the address
or number or in accordance with the electronic messaging system details provided (see the Schedule) and will be deemed effective as indicated:—
	 	 	 	 	 
	 	(i)      if in writing and delivered in person or by courier, on the date it is delivered;
	 	 	 	 	 
	 	(ii)      if sent by telex, on the date the recipient's answerback is received;
	 	 	 	 	 
	 	(iii)      if sent by facsimile transmission, on the date that transmission is received by a responsible employee of the recipient in legible form (it being
agreed that the burden of proving receipt will be on the sender and will not be met by a transmission report generated by the sender's facsimile machine);
	 	 	 	 	 
	 	(iv)      if sent by certified or registered mail (airmail, if overseas) or the equivalent (return receipt requested), on the date that mail is delivered or
its delivery is attempted; or
	 	 	 	 	 
	 	(v)      if sent by electronic messaging system, on the date that electronic message is received,

	unless the date of delivery (or attempted delivery) or that receipt, as applicable, is not a Local Business Day or that communication is delivered (or attempted) or received, as
applicable, after the close of business on a Local Business Day, in which case that communication shall be deemed given and effective on the first following day that is a Local Business Day.
	 	 	 	 	 
	(b)           Change of Addresses. Either party
may by notice to the other change the address, telex or facsimile number or electronic messaging system details at which notices or other communications are to be given to it.
	 	 	 	 	 
	13.	Governing Law and Jurisdiction
	 	 	 	 	 
	(a)           Governing Law. This Agreement
will be governed by and construed in accordance with the law specified in the Schedule.
	 	 	 	 	 
	(b)           Jurisdiction. With respect to any
suit, action or proceedings relating to this Agreement ("Proceedings"), each party irrevocably:—
	 	 	 	 	 
	 	(i)      submits to the jurisdiction of the English courts, if this Agreement is expressed to be governed by English law, or to the non-exclusive
jurisdiction of the courts of the State of New York and the United States District Court located in the Borough of Manhattan in New York City, if this Agreement is expressed to be governed by the laws of the State of New York; and
	 	 	 	 	 
	 	(ii)      waives any objection which it may have at any time to the laying of venue of any Proceedings brought in any such court, waives any claim that such
Proceedings have been brought in an inconvenient forum and further waives the right to object, with respect to such Proceedings, that such court does not have any jurisdiction over such party.
	 	 	 	 	 
	Nothing in this Agreement precludes either party from bringing Proceedings in any other jurisdiction (outside, if this Agreement is expressed to be governed by English law, the
Contracting States, as defined in Section 1(3) of the Civil Jurisdiction and Judgments Act 1982 or any modification, extension or re-enactment thereof for the time being in force) nor will the bringing of Proceedings in any one or more jurisdictions
preclude the bringing of Proceedings in any other jurisdiction.
	 	 	 	 	 
	(c)           Service of Process. Each party
irrevocably appoints the Process Agent (if any) specified opposite its name in the Schedule to receive, for it and on its behalf, service of process in any Proceedings. If for any reason any party's Process Agent is unable to act as such, such party
will promptly notify the other party and within 30 days appoint a substitute process agent acceptable to the other party. The parties irrevocably consent to service of process given in the manner provided for notices in Section 12. Nothing in this
Agreement will affect the right of either party to serve process in any other manner permitted by law.
	 	 	 	 	 
	(d)           Waiver of Immunities. Each party
irrevocably waives, to the fullest extent permitted by applicable law, with respect to itself and its revenues and assets (irrespective of their use or intended use), all immunity on the grounds of sovereignty or other similar grounds from (i) suit,
(ii) jurisdiction of any court, (iii) relief by way of injunction, order for specific performance or for recovery of property, (iv) attachment of its assets (whether before or after judgment) and (v) execution or enforcement of any judgment to which
it or its revenues or assets might otherwise be entitled in any Proceedings in the courts of any jurisdiction and irrevocably agrees, to the extent permitted by applicable law, that it will not claim any such immunity in any Proceedings.
	 	 	 	 	 
	14.	Definitions

As used in this Agreement:—

"Additional Termination Event" has the meaning specified in Section 5(b).

"Affected Party" has the meaning specified in Section 5(b).

"Affected Transactions" means (a) with respect to any Termination Event consisting of an Illegality, Tax Event or Tax Event Upon Merger, all Transactions affected by the
occurrence of such Termination Event and (b) with respect to any other Termination Event, all Transactions.  

"Affiliate" means, subject to the Schedule, in relation to any person, any entity controlled, directly or indirectly, by the person, any entity that controls, directly or
indirectly, the person or any entity directly or indirectly under common control with the person. For this purpose, "control" of any entity or person means ownership of a majority of the voting power of the entity or person.

"Applicable Rate" means:—

(a)         in respect of obligations payable or deliverable (or which would have been but for Section 2(a)(iii)) by a Defaulting Party, the Default
Rate;

(b)         in respect of an obligation to pay an amount under Section 6(e) of either party from and after the date (determined in accordance with Section
6(d)(ii)) on which that amount is payable, the Default Rate;

(c)         in respect of all other obligations payable or deliverable (or which would have been but for Section 2(a)(iii)) by a Non-defaulting Party, the
Non-default Rate; and

(d)         in all other cases, the Termination Rate.

"Burdened Party" has the meaning specified in Section 5(b).

"Change in Tax Law" means the enactment, promulgation, execution or ratification of, or any change in or amendment to, any law (or in the application or official
interpretation of any law) that occurs on or after the date on which the relevant Transaction is entered into.

"consent" includes a consent, approval, action, authorization, exemption, notice, filing, registration or exchange control consent.

"Credit Event Upon Merger" has the meaning specified in Section 5(b).

"Credit Support Document" means any agreement or instrument that is specified as such in this Agreement.

"Credit Support Provider" has the meaning specified in the Schedule.

"Default Rate" means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the relevant payee (as certified by it) if it were to fund or of
funding the relevant amount plus 1% per annum.

"Defaulting Party" has the meaning specified in Section 6(a).

"Early Termination Date" means the date determined in accordance with Section 6(a) or 6(b)(iv).

"Event of Default" has the meaning specified in Section 5(a) and, if applicable, in the Schedule.

"Illegality" has the meaning specified in Section 5(b).

"Indemnifiable Tax" means any Tax other than a Tax that would not be imposed in respect of a payment under this Agreement but for a present or former connection between
the jurisdiction of the government or taxation authority imposing such Tax and the recipient of such payment or a person related to such recipient (including, without limitation, a connection arising from such recipient or related person being or
having been a citizen or resident of such jurisdiction, or being or having been organised, present or engaged in a trade or business in such jurisdiction, or having or having had a permanent establishment or fixed place of business in such
jurisdiction, but excluding a connection arising solely from such recipient or related person having executed, delivered, performed its obligations or received a payment under, or enforced, this Agreement or a Credit Support Document).

"law" includes any treaty, law, rule or regulation (as modified, in the case of tax matters, by the practice of any relevant governmental revenue authority) and
"lawful" and "unlawful" will be construed accordingly.

"Local Business Day" means, subject to the Schedule, a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency
deposits) (a) in relation to any obligation under Section 2(a)(i), in the place(s) specified in the relevant Confirmation or, if not so specified, as otherwise agreed by the parties in writing or determined pursuant to provisions contained, or
incorporated by reference, in this Agreement, (b) in relation to any other payment, in the place where the relevant account is located and, if different, in the principal financial centre, if any, of the currency of such payment, (c) in relation to
any notice or other communication, including notice contemplated under Section 5(a)(i), in the city specified in the address for notice provided by the recipient and, in the case of a notice contemplated by Section 2(b), in the place where the
relevant new account is to be located and (d) in relation to Section 5(a)(v)(2), in the relevant locations for performance with respect to such Specified Transaction.

"Loss" means, with respect to this Agreement or one or more Terminated Transactions, as the case may be, and a party, the Termination Currency Equivalent of an amount
that party reasonably determines in good faith to be its total losses and costs (or gain, in which case expressed as a negative number) in connection with this Agreement or that Terminated Transaction or group of Terminated Transactions, as the case
may be, including any loss of bargain, cost of funding or, at the election of such party but without duplication, loss or cost incurred as a result of its terminating, liquidating, obtaining or reestablishing any hedge or related trading position
(or any gain resulting from any of them). Loss includes losses and costs (or gains) in respect of any payment or delivery required to have been made (assuming satisfaction of each applicable condition precedent) on or before the relevant Early
Termination Date and not made, except, so as to avoid duplication, if Section 6(e)(i)(1) or (3) or 6(e)(ii)(2)(A) applies. Loss does not include a party's legal fees and out-of-pocket expenses referred to under Section 11. A party will determine its
Loss as of the relevant Early Termination Date, or, if that is not reasonably practicable, as of the earliest date thereafter as is reasonably practicable. A party may (but need not) determine its Loss by reference to quotations of relevant rates or
prices from one or more leading dealers in the relevant markets.

"Market Quotation" means, with respect to one or more Terminated Transactions and a party making the determination, an amount determined on the basis of quotations from
Reference Market-makers. Each quotation will be for an amount, if any, that would be paid to such party (expressed as a negative number) or by such party (expressed as a positive number) in consideration of an agreement between such party (taking
into account any existing Credit Support Document with respect to the obligations of such party) and the quoting Reference Market-maker to enter into a transaction (the "Replacement Transaction") that would have the effect of preserving
for such party the economic equivalent of any payment or delivery (whether the underlying obligation was absolute or contingent and assuming the satisfaction of each applicable condition precedent) by the parties under Section 2(a)(i) in respect of
such Terminated Transaction or group of Terminated Transactions that would, but for the occurrence of the relevant Early Termination Date, have been required after that date. For this purpose, Unpaid Amounts in respect of the Terminated Transaction
or group of Terminated Transactions are to be excluded but, without limitation, any payment or delivery that would, but for the relevant Early Termination Date, have been required (assuming satisfaction of each applicable condition precedent) after
that Early Termination Date is to be included. The Replacement Transaction would be subject to such documentation as such party and the Reference Market-maker may, in good faith, agree. The party making the determination (or its agent) will request
each Reference Market-maker to provide its quotation to the extent reasonably practicable as of the same day and time (without regard to different time zones) on or as soon as reasonably practicable after the relevant Early Termination Date. The day
and time as of which those quotations are to be obtained will be selected in good faith by the party obligated to make a determination under Section 6(e), and, if each party is so obliged, after consultation with the other. If more than three
quotations are provided, the Market Quotation will be the arithmetic mean of the quotations, without regard to the quotations having the highest and lowest values. If exactly three such quotations are provided, the Market Quotation will be the
quotation remaining after disregarding the highest and lowest quotations. For this purpose, if more than one quotation has the same highest value or lowest value, then one of such quotations shall be disregarded. If fewer than three quotations are
provided, it will be deemed that the Market Quotation in respect of such Terminated Transaction or group of Terminated Transactions cannot be determined.

"Non-default Rate" means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting party (as certified by it) if it were to
fund the relevant amount.

"Non-defaulting Party" has the meaning specified in Section 6(a).

"Office" means a branch or office of a party, which may be such party's head or home office.

"Potential Event of Default" means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

"Reference Market-makers" means four leading dealers in the relevant market selected by the party determining a Market Quotation in good faith (a) from among dealers of
the highest credit standing which satisfy all the criteria that such party applies generally at the time in deciding whether to offer or to make an extension of credit and (b) to the extent practicable, from among such dealers having an office in
the same city.

"Relevant Jurisdiction" means, with respect to a party, the jurisdictions (a) in which the party is incorporated, organized, managed and controlled or considered to have
its seat, (b) where an Office through which the party is acting for purposes of this Agreement is located, (c) in which the party executes this Agreement and (d) in relation to any payment, from or through which such payment is made.

"Scheduled Payment Date" means a date on which a payment or delivery is to be made under Section 2(a)(i) with respect to a Transaction.

"Set-off" means set-off, offset, combination of accounts, right of retention or withholding or similar right or requirement to which the payer of an amount under Section
6 is entitled or subject (whether arising under this Agreement, another contract, applicable law or otherwise) that is exercised by, or imposed on, such payer.

"Settlement Amount" means, with respect to a party and any Early Termination Date, the sum of:-

(a)         the Termination Currency Equivalent of the Market Quotations (whether positive or negative) for each Terminated Transaction or group of
Terminated Transactions for which a Market Quotation is determined; and

(b)         such party's Loss (whether positive or negative and without reference to any Unpaid Amounts) for each Terminated Transaction or group of
Terminated Transactions for which a Market Quotation cannot be determined or would not (in the reasonable belief of the party making the determination) produce a commercially reasonable result.

"Specified Entity" has the meaning specified in the Schedule.

"Specified Indebtedness" means, subject to the Schedule, any obligation (whether present or future, contingent or otherwise, as principal or surety or otherwise) in
respect of borrowed money.

"Specified Transaction" means, subject to the Schedule, (a) any transaction (including an agreement with respect thereto) now existing or hereafter entered into between
one party to this Agreement (or any Credit Support Provider of such party or any applicable Specified Entity of such party) and the other party to this Agreement (or any Credit Support Provider of such other party or any applicable Specified Entity
of such other party) which is a rate swap transaction, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange
transaction, cap transaction, floor transaction, collar transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of these transactions),
(b) any combination of these transactions and (c) any other transaction identified as a Specified Transaction in this Agreement or the relevant confirmation.

"Stamp Tax" means any stamp, registration, documentation or similar tax.

"Tax" means any present or future tax, levy, impost, duty, charge, assessment or fee of any nature (including interest, penalties and additions thereto) that is imposed
by any government or other taxing authority in respect of any payment under this Agreement other than a stamp, registration, documentation or similar tax.

"Tax Event" has the meaning specified in Section 5(b).

"Tax Event Upon Merger" has the meaning specified in Section 5(b).

"Terminated Transactions" means with respect to any Early Termination Date (a) if resulting from a Termination Event, all Affected Transactions and (b) if resulting from
an Event of Default, all Transactions (in either case) in effect immediately before the effectiveness of the notice designating that Early Termination Date (or, if "Automatic Early Termination" applies, immediately before that Early
Termination Date).

"Termination Currency" has the meaning specified in the Schedule.

"Termination Currency Equivalent" means, in respect of any amount denominated in the Termination Currency, such Termination Currency amount and, in respect of any amount
denominated in a currency other than the Termination Currency (the "Other Currency"), the amount in the Termination Currency determined by the party making the relevant determination as being required to purchase such amount of such Other
Currency as at the relevant Early Termination Date, or, if the relevant Market Quotation or Loss (as the case may be), is determined as of a later date, that later date, with the Termination Currency at the rate equal to the spot exchange rate of
the foreign exchange agent (selected as provided below) for the purchase of such Other Currency with the Termination Currency at or about 11:00 a.m. (in the city in which such foreign exchange agent is located) on such date as would be customary for
the determination of such a rate for the purchase of such Other Currency for value on the relevant Early Termination Date or that later date. The foreign exchange agent will, if only one party is obliged to make a determination under Section 6(e),
be selected in good faith by that party and otherwise will be agreed by the parties.

"Termination Event" means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination
Event.

"Termination Rate" means a rate per annum equal to the arithmetic mean of the cost (without proof or evidence of any actual cost) to each party (as certified by such
party) if it were to fund or of funding such amounts.

"Unpaid Amounts" owing to any party means, with respect to an Early Termination Date, the aggregate of (a) in respect of all Terminated Transactions, the amounts that
became payable (or that would have become payable but for Section 2(a)(iii)) to such party under Section 2(a)(i) on or prior to such Early Termination Date and which remain unpaid as at such Early Termination Date and (b) in respect of each
Terminated Transaction, for each obligation under Section 2(a)(i) which was (or would have been but for Section 2(a)(iii)) required to be settled by delivery to such party on or prior to such Early Termination Date and which has not been so settled
as at such Early Termination Date, an amount equal to the fair market value of that which was (or would have been) required to be delivered as of the originally scheduled date for delivery, in each case together with (to the extent permitted under
applicable law) interest, in the currency of such amounts, from (and including) the date such amounts or obligations were or would have been required to have been paid or performed to (but excluding) such Early Termination Date, at the Applicable
Rate. Such amounts of interest will be calculated on the basis of daily compounding and the actual number of days elapsed. The fair market value of any obligation referred to in clause (b) above shall be reasonably determined by the party obliged to
make the determination under Section 6(e) or, if each party is so obliged, it shall be the average of the Termination Currency Equivalents of the fair market values reasonably determined by both parties.

IN WITNESS WHEREOF the parties have executed this document on the respective dates specified below with effect from the date specified on the first page of this document.

	DEUTSCHE BANK AG NEW YORK

BRANCH 
 (Name of Party) 

	 	

CAPITAL ONE MASTER TRUST 
 (Name of Party) 

	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	By: 	The Bank of New York 	 
	 	 	 	 	 	 
 solely in its capacity as trustee and not in its individual capacity	 
	 	 	 	 	 	 	 
	By: 	/s/ Paul B. McHugh 	 	 	By: 	/s/ Scott J. Tepper 	 
	 	 
 Name: Paul B. McHugh

Title:   Director, Credit Risk Management

Date:   05/02/01 	 	 	 	 
 Name: Scott J. Tepper

Title:   Assistant Treasurer

Date:   5/02/01	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	By: 	/s/ Heidi M. Sobol 	 	 	 	 	 
	 	 
 Name: Heidi M. Sobel

Title:   Director

Date:   05/02/01	 	 	 	 	 

  

  

SCHEDULE

to the

Master Agreement

dated as of May 2, 2001

between

DEUTSCHE BANK AG NEW YORK BRANCH ("Party A"),

and

THE BANK OF NEW YORK (the "Trustee")

acting as trustee for

The CAPITAL ONE MASTER TRUST ("Party B"), a trust formed pursuant to a pooling and servicing agreement dated as of September 30, 1993, as amended and restated on April 9,
2001 (as amended and restated and supplemented from time to time, the "Pooling and Servicing Agreement"), as supplemented by the Series 2001-2 Supplement, dated as of May 2, 2001, each among Capital One Bank, as a Seller and the Servicer,
Capital One, F.S.B., as a Seller, and the Trustee (the Pooling and Servicing Agreement, as so supplemented, the "Trust Agreement").

Part 1. Termination Provisions.

In this Agreement:

	(a)	"Specified Entity" shall not apply for purposes of this Agreement.
	 	 
	(b)	"Specified Transaction" will have the meaning specified in Section 14 of this Agreement.
	 	 
	(c)	The "Breach of Agreement" provisions of Section 5(a)(ii), the "Misrepresentation" provisions of Section 5(a)(iv), the "Default under Specified
Transaction" provisions of Section 5(a)(v), the "Cross Default" provisions of Section 5(a)(vi), the "Merger Without Assumption" provisions of Section 5(a)(viii), the "Tax Event" provisions of Section 5(b)(ii),
"Tax Event Upon Merger" provisions of Section 5(b)(iii), and the "Credit Event Upon Merger" provisions of Section 5(b)(iv) will not apply to Party A and will not apply to Party B.
	 	 
	(d)	The "Automatic Early Termination" provisions of Section 6(a) will not apply to Party A and will not apply to Party B.
	 	 
	(e)	Payments on Early Termination. For the purpose of Section 6(e) of this Agreement, Market Quotation and the Second Method will apply; provided, however, that in
the case of

		an Event of Default with respect to Party A as the Defaulting Party or a Termination Event with respect to Party A as the Affected Party, the related Settlement Amount, if negative,
will be deemed to be zero if the Market Quotation cannot be determined.
	 	 
	(f)	Market Quotation. Notwithstanding anything to the contrary in the definition of Market Quotation in Section 14, in the case of an Event of Default with respect to Party A as
the Defaulting Party or a Termination Event with respect to Party A as the Affected Party, the Market Quotation, if negative, will be deemed to be the negative quotation, if any, with the highest absolute value received from any Reference
Market-maker, even if only one quotation is provided, with which Party B is able, using its best efforts, to enter into a Replacement Transaction even if Party B reasonably believes such Market Quotation would not produce a commercially reasonable
result.
	 	 
	(g)	"Reference Market-maker" will not have the meaning specified in Section 14, but will instead mean the following:
	 	 	 
			"Reference Market-maker" means five leading dealers in the relevant market selected by the party determining the Market Quotation in good faith (a) from among dealers
which are rated not lower than investment grade by S&P and Moody's which satisfy the criteria that such party applies generally at that time in deciding whether to offer or make an extension of credit and (b) to the extent practicable, from
among dealers having an office in the same city.
	 	 
	(h)	"Termination Currency" means United States Dollars ("USD").
	 	 
	Part 2.	Tax Representations.
	 	 
	(a)  Representations of Party A.
	 	 	 
		(1)	Payer Tax Representation. For the purpose of Section 3(e) of this Agreement, Party A hereby makes the following representation:
	 	 	 	 
				It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or
withholding for or on account of any Tax from any payment (other than interest under Sections 2(e), 6(d)(ii) and 6(e) of this Agreement) to be made by it to Party B under this Agreement. In making this representation, it may rely on:
	 	 	 	 	 
				(a)	the accuracy of any representations made by Party B pursuant to Section 3(f) of this Agreement;
	 	 	 	 	 
				(b)	the satisfaction of the agreement of Party B contained in Section 4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and 

					effectiveness of any document provided by Party B pursuant to Section 4(a)(i) or 4(a)(iii) of this Agreement; and
	 	 	 	 	 
				(c)	the satisfaction of the agreement of Party B contained in Section 4(d) of this Agreement,
	 	 	 	 
				provided that it shall not be a breach of this representation where reliance is placed on clause (b) and Party B does not deliver a form or document under Section 4(a)(iii)
of this Agreement by reason of material prejudice to its legal or commercial position.
	 	 	 
		(2)	Payee Tax Representations. For the purpose of Section 3(f) of this Agreement, Party A makes the

representations specified below:
	 	 	 	 
				Each payment received or to be received by it in connection with this Agreement will be effectively connected with its conduct of a trade or business in the United States of
America.
	 	 
	(b)	Representations of Party B.
	 	 	 
		(1)	Payer Tax Representation. For the purpose of Section 3(e) of this Agreement, Party B hereby makes the following representation:
	 	 	 
			It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or
withholding for or on account of any Tax from any payment (other than interest under Sections 2(e), 6(d)(ii) and 6(e) of this Agreement) to be made by it to Party A under this Agreement. In making this representation, it may rely on:
	 	 	 	 
			(i)	the accuracy of any representation made by Party A pursuant to Section 3(f) of this Agreement;
	 	 	 	 
			(ii)	the satisfaction of the agreement of Party A contained in Section 4(a)(i) or 4(a)(iii) of this Agreement and the accuracy and effectiveness of any document provided by Party A
pursuant to Section 4(a)(i) or 4(a)(iii) of this Agreement; and
	 	 	 	 
			(iii)	the satisfaction of the agreement of Party A contained in Section 4(d) of this Agreement,
	 	 	 
			provided that it shall not be a breach of this representation where reliance is placed on clause (ii) and Party A does not deliver a form or document under Section

			 4(a)(iii) of this Agreement by reason of material prejudice to its legal or commercial position.
	 	 	 
		(2)	Payee Tax Representations. For the purpose of Section 3(f) of this Agreement, Party B makes the

representation specified below:
	 	 	 	 
				For United States federal income tax purposes it is a "United States Person" as defined in § 7701(a)(30) of the Internal Revenue Code.
	 	 
	Part 3.	Agreement to Deliver Documents.
	 	 
		For the purpose of Sections 3(d), 4(a)(i) and (ii) of this Agreement, each party agrees to deliver the following documents, as applicable:
	 	 	 
	 	(a)	Tax forms, documents or certificates to be delivered are:
		 	 

	
Party required

to deliver

document

	
Form/Document/Certificate

	
Date by which

to be delivered

	
Covered by

Section 3(d) Representation

	
Party B

	
Any form or document that may be reasonably requested, and that Party B is eligible to provide, in order to allow the requesting party to make a payment without (or with reduced) withholding
Tax.

	
Promptly upon reasonable demand by the other party.

	
Yes

	
Party A

	
An accurate and complete signed copy of Internal Revenue Service Form W-ECI (or any successor thereto) and Internal Revenue Service Form W-8BEN (or any successor thereto), and all other related
forms (including any certificate with respect thereto) as Party B may reasonably request.

	
(i) Concurrently with the execution and delivery of this Agreement and the Confirmation, (ii) prior to the expiration of the immediately preceding form that was in full force and
effect, and (iii) at any time that a change in circumstances renders the preceding form inaccurate or incomplete in any material respect.

	
Yes

		(b)	Other documents to be delivered are:

 

	
Party required

to deliver 

document

	
Form/Document/

Certificate

	
Date by which

to be delivered

	
Covered by

Section

3(d)

	
Party A

	
Opinions of counsel for Party A substantially in the form of Exhibit A to this Schedule

	
Upon execution of this Agreement

	
Yes

	
Party A

	
An incumbency certificate with respect to the signatory of this Agreement

	
Upon execution of this Agreement

	
Yes

	
Party B

	
An opinion of counsel for Party B substantially in the form of Exhibit B to this Schedule

	
Upon execution of this Agreement

	
Yes

	
Party B

	
An incumbency certificate with respect to the signatory of this Agreement

	
Upon execution of this Agreement

	
Yes

	
Party B

	
Documentary evidence of authority of The Bank of New York, as Trustee, to act on behalf of Party B

	
Upon execution of this Agreement

	
Yes

	Part 4.	Miscellaneous.
	 	 	 	 	 
	(a)	Addresses for Notices. For the purpose of Section 12(a):
	 	 	 	 	 
	 	Address for all notices or communications to Party A (other than notices under Sections 5 and 6):
	 	 	 	 	 
	 	Address:	Deutsche Bank AG, Head Office

Taunusanlage 12

60262 Frankfurt

GERMANY

Attention:           Legal Department

Telex:                 411836 or 416731 or 41233

Answerback:       DBF-D 	 	 
	 	 	 	 	 
	 	with a copy to:
	 	 	 	 	 
	 	 	Deutsche Bank AG New York Branch

31 West 52nd Street

New York, New York 10019

USA

Attention:           Swap Group

Telephone:         (1)(212) 469-4338

Fax:                   (1)(212) 469-4654

Telex:                429166

Answerback:      DEUTNYK	 	 
	 	 	 	 	 
	 	Address for notices or communications to Party B:
	 	 	 	 	 
	 	Address:	Capital One Master Trust

c/o The Bank of New York, as Trustee

101 Barclay Street - 12E

New York, New York 10286

Attention:                 Corporate Trust Department

Telephone No.:         (212) 815-5738

Facsimile No.:          (212) 815-5544	 	 

	 	with a copy to:
	 	 	 	 	 
	 	 	Capital One Master Trust

Capital One Bank, as Servicer

8000 Jones Branch Drive

Suite 200

McLean, Virginia 22102

Attention: Director of Securitization

Telephone No.: (703) 875-1305

Facsimile No.: (703) 875-1389	 	 
	 	 	 	 	 
	 	with a copy to:
	 	 	 	 	 
	 	 	Capital One Bank

8000 Jones Branch Drive

Suite 200

McLean, Virginia 22102

Attention: General Counsel

Telephone No.: (703) 875-1490

Facsimile No.: (703) 875-1589	 	 
	 	 	 	 	 
	 	For all purposes.
	 	 	 	 	 
	(b)	Process Agent. For the purpose of Section 13(c):
	 	 	 	 	 
	 	Party A appoints as its Process Agent: Not applicable.
	 	 	 	 	 
	 	Party B appoints as its Process Agent: Not applicable.
	 	 	 	 	 
	(c)	Offices. The provisions of Section 10(a) will apply to this Agreement.
	 	 	 	 	 
	(d)	Multibranch Party. For the purpose of Section 10(c) of this Agreement:
	 	 	 	 	 
	 	Party A is not a Multibranch Party.
	 	 	 	 	 
	 	Party B is not a Multibranch Party.
	 	 	 	 	 
	(e)	Calculation Agent. The Calculation Agent is the Trustee, unless otherwise specified in a Confirmation in relation to the

relevant Transaction.
	 	 	 	 	 
	(f)	Credit Support Document. Details of any Credit Support Document: 

	 	In the case of Party A: Not applicable.
	 	 	 	 	 
	 	In the case of Party B: Not applicable.
	 	 	 	 	 
	(g)	Credit Support Provider.
	 	 	 	 	 
	 	In relation to Party A: Not applicable
	 	 	 	 	 
	 	In relation to Party B: Not applicable
	 	 	 	 	 
	(h)	Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York (without reference to choice of law doctrine but without
prejudice to the provisions of Section 5-1401 of the General Obligations Law of the State of New York).
	 	 	 	 	 
	(i)	Netting of Payments. Subparagraph (ii) of Section 2(c) of this Agreement will apply to any of the Transactions.
	 	 	 	 	 
	(j)	"Affiliate" will have the meaning specified in Section 14 of this Agreement, except that with respect to Party B there shall be deemed to be no
Affiliates.
	 	 	 	 	 
	(k)	Amendments. Party B shall give Moody's Investors Service, Inc. ("Moody's") notice of any amendment to this Agreement as soon as practicable thereafter. Standard
& Poor's Ratings Services ("S&P") shall provide Party B with prior written confirmation that any amendment to this Agreement that materially adversely affects the interests of the Series 2001-2 Certificateholders will not result in
the withdrawal or reduction of S&P's then current rating of the Series 2001-2 Certificates (as such terms are defined in the Trust Agreement.
	 	 	 	 	 
	
Part 5.

	Other Provisions.
	 	 	 	 	 
	(a)	Confirmation. Each Confirmation supplements, forms part of, and will be read and construed as one with, this Agreement. A form of Confirmation is set forth as Exhibit
C hereto.
	 	 	 	 	 
	(b)	Waiver of Trial By Jury. Each party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action
or proceeding relating to this Agreement. Each party (i) certifies that no representative, agent or attorney of the other party has represented, expressly or otherwise, that such other party would not, in the event of such a suit, action or
proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter this Agreement by, among other things, the mutual waivers and certifications in this Section.

  

	(c)	Non-Petition. Party A hereby agrees that it will not bring any action (whether in bankruptcy or otherwise) against Party B in any court prior to the date which is one
year and one day after all Investor Certificates (as such term is defined in the Pooling and Servicing Agreement), including all collateral interests and class C interests, of Party B have been paid in full.
	 	 	 	 	 
	(d)	Assignment. In the event the long-term senior unsecured debt rating of Party A is lowered to below the category of BBB- by S&P or Baa3 by Moody's or such rating
agencies' then equivalent ratings, or such ratings are withdrawn by either S&P or Moody's, the Trustee shall direct Party A to assign and delegate (which may require Party A to incur a loss) its rights and obligations under any Transaction to a
replacement counterparty. Party B shall give Moody's notice of the replacement counterparty as soon as practicable thereafter. S&P shall provide Party B with prior written confirmation that any such assignment or delegation that materially
adversely affects the interests of the Series 2001-2 Certificateholders will not result in the withdrawal or reduction of S&P's then current rating of the Series 2001-2 Certificates (as such terms are defined in the Trust Agreement.
	 	 	 	 	 
	(e)	Provision for Payments from Party B. Notwithstanding anything contained in this Agreement to the contrary, any amount required to be paid by Party B pursuant to this
Agreement will be payable only to the extent provided in subsection 4.05(a)(ii) of the Trust Agreement and subsection 3.02(vi) of the Transfer Agreement (as each such term is defined in the Confirmation). Except as expressly provided in Part 5(j)
below, the Trustee shall not be required to expend or risk its own funds or otherwise incur any liability in connection with this Agreement, and Party A shall not bring any claim whatsoever against the Trustee in its individual capacity or against
the assets of the Trustee (other than the assets of the Trust).
	 	 	 	 	 
	(f)	Definition of Trustee. For purposes of this Agreement the term "Trustee" shall mean The Bank of New York as trustee for Party B.
	 	 	 	 	 
	(g)	Relationship Between Parties.  Each party will be deemed to represent to the other party on the date on which it enters into this Agreement that (absent a written
agreement between the parties that expressly imposes affirmative obligations to the contrary):
	 	 	 	 	 
	 	(i)        Non-Reliance. It is acting for its own account, and it has made its own independent decisions to enter into this Agreement
and as to whether this Agreement is appropriate or proper for it based upon its own judgment and upon advice from such advisers as it has deemed necessary. It is not relying on any communication (written or oral) of the other party as investment
advice or as a recommendation to enter into this Agreement; it being understood that information and explanations related to the terms and conditions of this Agreement shall not be considered investment advice or a recommendation to enter into this
Agreement. No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the expected results of this Agreement.

	 	(ii)         Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through
independent professional advice), and understands and accepts, the terms, conditions and risks of this Agreement. It is also capable of assuming, and assumes, the risks of this Agreement.
	 	 	 	 	 
	 	(iii)         Status of Parties. The other party is not acting as a fiduciary for or as adviser to it in respect of this
Agreement.
	 	 	 	 	 
	(h)	Additional Representations. Each of Party A and Party B represents that it is an "eligible swap participant" as defined in Commodities Futures Trading Commission
Rule 35.1(b)(2) (17 C.F.R. 35(b)(2)).
	 	 	 	 	 
	(i)	Negative Interest Rates. Party A and Party B agree that:
	 	 	 	 	 
	 	if, with respect to a Calculation Period for a Transaction, a party ("X") is obligated to pay a Floating Amount that is a negative number (either by reason of a negative
Floating Rate or the subtraction of a Spread from the Floating Rate), the Floating Amount with respect to X for that Calculation Period will be deemed to be zero, and the other party ("Y") will pay to X the absolute value of the negative
Floating Amount, in addition to any amounts otherwise owed by Y to X, on the Payment Date such Floating Amount would have been payable if it had been a positive number. Any amounts paid by Y to X pursuant to this provision will be paid to such
account as X may designate (unless Y gives timely notice of a reasonable objection to such designation) in the currency in which that Floating Amount would have been paid if it had been a positive number (and without regard to the currency in which
Y is otherwise obligated to make payments).
	 	 	 	 	 
	(j)	Limited Recourse. It is expressly understood and agreed by the parties hereto that (i) this Agreement and each Transaction entered into pursuant to this Agreement is
entered into by The Bank of New York, not individually or personally but solely as Trustee of the Capital One Master Trust (the "Trust") in the exercise of the powers and authority conferred and vested in it, (ii) the representations,
undertakings and agreements herein made on the part of the Trust are made and intended not as personal representations, undertakings and agreements by the Trustee but are made and intended for the purpose of binding only the Trust,
(iii) nothing herein contained shall be construed as creating any liability on the Trustee on the part of the Trust, individually or personally, to perform any covenant either expressed or implied herein, all such liability, if any, being
expressly waived by the parties who are signatories to this Agreement and by any Persons claiming by, through or under such parties; provided, however, that the Trustee shall be liable in its individual capacity for its own willful
misconduct or gross negligence and (iv) under no circumstances shall the Trustee be personally liable for the payment of any indebtedness or expenses of the Trust or be liable for the breach or failure of any obligation, representation,
warranty or covenant made or undertaken by the Trust under this Agreement.

	The parties executing this Schedule have executed the Master Agreement and have agreed as to the contents of this Schedule.

 

	 	DEUTSCHE BANK AG NEW YORK BRANCH
	 	 	 
	 	By:	/s/ Paul B. McHugh 
	 	 	 
 
	 	Name:	Paul B. McHugh
	 	Title:	Director, Credit Risk Managment
	 	 	 
	 	By:	/s/ Heidi M. Sobol
	 	 	 
 
	 	Name:	Heidi M. Sobol
	 	Title:	Director
	 	 	 
	 	THE BANK OF NEW YORK, solely in its capacity as trustee for the CAPITAL ONE MASTER TRUST and not in its individual capacity
	 	 	 
	 	By:	/s/ Scott J. Tepper
	 	 	 
 
	 	Name:	Scott J. Tepper
	 	Title:	Assistant Treasurer

EXHIBIT A to Schedule

[Form of Opinion of Counsel for Swap Counterparty]

EXHIBIT B to Schedule

[Form of Opinion of Counsel for Trustee]

EXHIBIT C to Schedule

	Date:	May 2, 2001
	 	 
	To:	The Bank of New York acting as

Trustee for the

Capital One Master Trust 
	 	 
	 	Telephone: (212) 815-5738

Telecopier: (212) 815-5544
	 	 
	From:	Deutsche Bank AG New York Branch
	 	 
	Subject:	Swap Transaction
	 	 
	               The purpose of this communication is to set forth the terms and conditions of the swap
transaction entered into on the Trade Date referred to below (the "Swap Transaction"), between THE BANK OF NEW YORK (the "Trustee") acting as trustee for the CAPITAL ONE MASTER TRUST ("Party B"), but only as relates to
the Series 2001-2 Class A Floating Rate Asset Backed Certificates (the "Trust") and DEUTSCHE BANK AG NEW YORK BRANCH ("Party A"). This communication constitutes a "Confirmation" as referred to in the Swap Agreement
specified below.
	 	 
	                   This Confirmation supplements, forms part of, and is subject to,
the Master Agreement, dated as of May 2, 2001, between Party A and Party B (the "Master Agreement"). All provisions contained in, or incorporated by reference to, such Master Agreement shall govern this Confirmation except as expressly
modified below.
	 	 
	                   This Confirmation and the Schedule to the Master Agreement (the
"Schedule") each incorporate the definitions and provisions contained in (i) the 1991 ISDA Definitions (as supplemented by the 1998 Supplement) (as published by the International Swaps and Derivatives Association, Inc.) (the
"Definitions"), without regard to any amendment to the Definitions subsequent to the date hereof, and (ii) the Series 2001-2 Supplement, dated as of May 2, 2001 (the "Supplement") to the Pooling and Servicing Agreement, dated as
of September 30, 1993, as amended and restated on April 9, 2001, by and among Capital One Bank, as a Seller and the Servicer, Capital One, F.S.B., as a Seller, and The Bank of New York, as Trustee (as amended, the "Pooling and Servicing
Agreement", together with the Supplement, the "Trust Agreement"), and relating to the Trust, Series 2001-2 ("Series 2001-2") and, in particular, for the purposes hereof, the Class A Floating Rate Asset Backed Certificates,
Series 2001-2 (the "Class A Certificates"). In the event of any inconsistency between the definitions in the Supplement and any of the Definitions, the Schedule or this Confirmation, the definitions in the Supplement will govern; in the
event of any inconsistency between this Confirmation and either the Schedule or

	the Definitions, this Confirmation will govern; and in the event of any inconsistency between the Schedule and the Definitions, the Schedule will govern.
	 	 
	                   The terms of this particular Swap Transaction to which this
Confirmation relates are as follows:

	 	 	 
		
Trade Date:

	
May 2, 2001

	 	 	 
		
Effective Date: 

	
May 2, 2001

	 	 	 
		
Termination Date:

	
The earlier of (i) the date on which the Notional Amount is zero and (ii) the March 2006 Distribution Date.

	 	 	 
		
Expected Final Payment Date

	
The March 2006 Distribution Date.

	 
	
Fixed Amounts:  

	 	 	 
		
Fixed Rate Payer:

	
Party B.

	 	 	 
		
Fixed Rate: 

	
5.57%.

	 	 	 
		
Fixed Amount for Initial Fixed Rate Payer Payment Date:

	
$6,486,729.17.

	 	 	 
		
Fixed Amount:

	
For each Fixed Rate Payer Payment Date other than the initial Fixed Rate Payer Payment Date, an amount calculated on a formula basis for that Fixed Rate Payer Payment Date as follows:

                               
                      Fixed Rate

Fixed                         =                
Notional                      x               Fixed

Amount                                       
 Amount                                       
 Rate

                                        
                                        
       12

	 	 	 
		
Fixed Rate Notional Amount:

	
For the initial Fixed Rate Payer Payment Date, $975,000,000 (the initial outstanding principal balance of the Class A Certificates), and for each Fixed Rate Payer Payment Date thereafter the
outstanding principal balance of Class A Certificates as of the Record Date immediately preceding such Fixed Rate Payer Payment Date.

	 	 	 
		
Fixed Rate Payer Payment Dates:

	
Each Distribution Date.

		
Distribution Date:

	
The fifteenth (15th) day of each calendar month, commencing June 15, 2001, or, if such day is not a Business Day, the next following Business Day.

	 
	
Floating Amounts:  

	 	 	 
		
Floating Rate Payer:

	
Party A.

	 	 	 
		
Calculation Periods:

	
For the initial Floating Rate Payer Payment Date, the period from and including the Effective Date through the day preceding the first Distribution Date; and for each Floating Rate Payer Payment
Date thereafter, each Calculation Period will be the period from and including the previous Distribution Date through the day preceding the current Distribution Date.

	 	 	 
		
Floating Rate Payer Payment Dates:

	
Each Distribution Date.

	 	 	 
		
Floating Rate Option:

	
USD-LIBOR-BBA; provided, however, that the definition of "USD-LIBOR-Reference Banks" is hereby amended (i) to replace the penultimate use of "that Reset
Date" in the last sentence of the definition of "USD-LIBOR-Reference Bank" with "the day that is two London Banking Days preceding that Reset Date" and (ii) to replace each use of "Calculation Agent" in the
definition of "USD-LIBOR-Reference Banks" with "Servicer."

	 	 	 
		
Reset Dates:

	
Means, with respect to each Floating Rate Payer Payment Date after the initial Floating Rate Payer Payment Date, the first day of the related Calculation Period for such Floating Rate Payer
Payment Date.

	 	 	 
		
Designated Maturity:

	
One month. 

	 	 	 
		
Floating Rate Spread:

	  
	 	 	 
		
Floating Amount for Initial Floating Rate Payer Payment Date:

	
$5,448,895.83.

		
Floating Rate Notional Amount:

	
For the initial Floating Rate Payer Payment Date, $975,000,000 (the initial outstanding principal balance of the Class A Certificates), and for each Floating Rate Payer Payment Date thereafter
the outstanding principal balance of the Class A Certificates as of the Record Date immediately preceding such Floating Rate Payer Payment Date.

	 	 	 
		
Floating Rate Day Count Fraction:

	
Actual/360.

	 	 	 
	 	 	 
		
Compounding:

	
Not Applicable.

	 	 	 
		
Calculation Agent: 

	
Trustee.

	 	 	 
		
Business Days: 

	
New York, New York and Richmond, Virginia.

	 	 	 
		
Credit Support Document: 

	
Not Applicable.

	 	 	 
		
Governing Law:

	
New York.

	 	 	 
		
Offices:

	
Party A is not a Multibranch Party.

	 	 	 
		  	
Party B is not a Multibranch Party.

	 	 	 
		
Payment Instructions for Party A USD:

	
Deutsche Bank, New York

ABA # 026 003 780

ACC # 100440170004

	 	 	 
		
Payment Instructions for the Trust in USD:

	
The Bank of New York, New York

ABA# 021000018

A/C of Capital One Master Trust

Series 2001-2

A/C# 052246

Please confirm that the foregoing correctly sets forth the terms of our agreement with respect to the Swap Transaction by signing in the space provided below and sending a copy of the executed
Confirmation to us.

It has been a pleasure working with you on this transaction and we look forward to working with you again in the future.

	 	Very truly yours,
	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH
	 	 	 
	 	By:	/s/ Paul B. McHugh 
	 	 	 
 
	 	Name:	Paul B. McHugh
	 	Title:	Director, Credit Risk Managment
	 	 	 
	 	By:	/s/ Heidi M. Sobol
	 	 	 
 
	 	Name:	Heidi M. Sobol
	 	Title:	Director
	 	 	 
	Agreed and Accepted by:	 	 
	 	 	 
	THE BANK OF NEW YORK, solely

in its capacity as trustee for the

CAPITAL ONE MASTER TRUST and not

in its individual capacity	 	 

	 	 
	 	 
	By:	/s/ Scott J. Tepper 
	 	 
 
	Name:	Scott J. Tepper
	Title:	Assistant Treasurer

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