Document:

EX-4.4

 Exhibit 4.4 
  

 
 AMERICAN EXPRESS CREDIT ACCOUNT
MASTER TRUST 
 [FORM OF] AMENDED AND RESTATED 

RECEIVABLES PURCHASE AGREEMENT 

between 
 AMERICAN EXPRESS
BANK, FSB 
 and 

AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC 

Dated as of [            ], 2015 

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	 ARTICLE I
	   

	
	 DEFINITIONS
	   

			
	 Section 1.01.
	  	 Definitions
	  	 	1	  
			
	 Section 1.02.
	  	 Other Definitional Provisions
	  	 	10	  
	
	 ARTICLE II
	   

	
	 PURCHASE AND CONVEYANCE OF RECEIVABLES
	   

			
	 Section 2.01
	  	 Purchase
	  	 	11	  
			
	 Section 2.02.
	  	 Addition of Accounts
	  	 	12	  
			
	 Section 2.03.
	  	 Removal and Deletion of Accounts
	  	 	14	  
	
	 ARTICLE III
	   

	
	 CONSIDERATION AND PAYMENT
	   

			
	 Section 3.01.
	  	 Purchase Price
	  	 	15	  
			
	 Section 3.02.
	  	 Adjustments to Purchase Price
	  	 	15	  
			
	 Section 3.03.
	  	 Use of Name, Logo and Marks
	  	 	15	  
	
	 ARTICLE IV
	   

	
	 REPRESENTATIONS AND WARRANTIES
	   

			
	 Section 4.01.
	  	 Representations and Warranties of FSB Relating to FSB
	  	 	17	  
			
	 Section 4.02.
	  	 Representations and Warranties of FSB Relating to the Agreement and the Receivables
	  	 	18	  
			
	 Section 4.03.
	  	 Representations and Warranties of RFC IV
	  	 	19	  
	
	 ARTICLE V
	   

	
	 COVENANTS
	   

			
	 Section 5.01.
	  	 Covenants of FSB
	  	 	21	  
	
	 ARTICLE VI
	   

	
	 REPURCHASE OBLIGATION
	   

			
	 Section 6.01.
	  	 Reassignment of Ineligible Receivables
	  	 	25	  
			
	 Section 6.02.
	  	 Reassignment of Other Receivables
	  	 	25	  
	
	 ARTICLE VII
	   

	
	 CONDITIONS PRECEDENT
	   

			
	 Section 7.01.
	  	 Conditions to RFC IV’s Obligations Regarding Initial Receivables
	  	 	27	  

  
 i 

 TABLE OF CONTENTS 

continued 
  

							
	 	  	 	  	Page	 
			
	 Section 7.02.
	  	 Conditions Precedent to FSB’s Obligations
	  	 	27	  
	
	 ARTICLE VIII
	   

	
	 TERM AND PURCHASE TERMINATION
	   

			
	 Section 8.01.
	  	 Term
	  	 	29	  
			
	 Section 8.02.
	  	 Purchase Termination
	  	 	29	  
	
	 ARTICLE IX
	   

	
	 MISCELLANEOUS PROVISIONS
	   

			
	 Section 9.01.
	  	 Amendment
	  	 	30	  
			
	 Section 9.02.
	  	 Governing Law
	  	 	30	  
			
	 Section 9.03.
	  	 Notices
	  	 	30	  
			
	 Section 9.04.
	  	 Severability of Provisions
	  	 	30	  
			
	 Section 9.05.
	  	 Assignment
	  	 	30	  
			
	 Section 9.06.
	  	 Acknowledgement and Agreement of FSB
	  	 	31	  
			
	 Section 9.07.
	  	 Further Assurances
	  	 	31	  
			
	 Section 9.08.
	  	 No Waiver; Cumulative Remedies
	  	 	31	  
			
	 Section 9.09.
	  	 Counterparts
	  	 	31	  
			
	 Section 9.10.
	  	 Binding; Third-Party Beneficiaries
	  	 	31	  
			
	 Section 9.11.
	  	 Merger and Integration
	  	 	32	  
			
	 Section 9.12.
	  	 Headings
	  	 	32	  
			
	 Section 9.13.
	  	 Schedules and Exhibits
	  	 	32	  
			
	 Section 9.14.
	  	 Survival of Representations and Warranties
	  	 	32	  
			
	 Section 9.15.
	  	 Nonpetition Covenant
	  	 	32	  
		
	 EXHIBIT A: FORM OF SUPPLEMENTAL CONVEYANCE
	  	 	A-1	  
		
	 SCHEDULE 1: LIST OF ACCOUNTS
	  	 	I-1	  

  
 ii 

 AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of
[            ], 2015, by and between AMERICAN EXPRESS BANK, FSB, a federally-chartered savings bank (together with its permitted successors and assigns, “FSB”), and
AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC, a Delaware limited liability company (together with its permitted successors and assigns, “RFC IV”). 

W I T N E S S E T H: 

WHEREAS, RFC IV desires to purchase, from time to time, certain Receivables (hereinafter defined) existing or arising in
designated credit or charge accounts of FSB; 
 WHEREAS, FSB desires to sell and assign, from time to time, certain
Receivables to RFC IV upon the terms and conditions hereinafter set forth; 
 WHEREAS, it is contemplated that the
Receivables purchased hereunder will be transferred by RFC IV to the Trustee under the terms of the Pooling and Servicing Agreement and that the Trust created under the Pooling and Servicing Agreement will issue beneficial interests in the Trust
(each capitalized term as hereinafter defined); 
 WHEREAS, FSB agrees that all representations, warranties, covenants and
agreements made by FSB herein with respect to the Accounts and the Receivables shall also be for the benefit of the Trust, the Trustee and the Certificateholders (each capitalized term as hereinafter defined); 

WHEREAS, FSB and RFC IV previously entered into the Receivables Purchase Agreement, dated as of April 16, 2004 (the
“Original Agreement”); and 
 WHEREAS, FSB and RFC IV desire to amend and restate the Original
Agreement. 
 NOW, THEREFORE, it is hereby agreed by and between FSB and RFC IV as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01. Definitions. All capitalized terms used herein or in any certificate, or document made or
delivered pursuant hereto, and not defined herein or therein, shall have the following meanings: 

“Account” shall mean (a) each Initial Account, (b) each Additional Account (but only from and after
the Addition Date with respect thereto), (c) each Related Account, and (d) each Transferred Account. The term “Account” shall not include Deleted Accounts and any Account all of the Receivables in which are reassigned to FSB
pursuant to Section 6.01 or Section 6.02. 
 “Account Agreement” shall mean, with respect to an
Account, the agreement between FSB and the Obligor governing the terms and conditions of such Account, as such agreement may be amended, modified or otherwise changed from time to time. 

 “Account Schedule” shall mean a computer file or microfiche list
containing a true and complete list of Accounts, identified by account number, and setting forth, with respect to each Account other than the Initial Accounts, the aggregate amount outstanding in such Account (a) on the Distribution Date
immediately succeeding the related Monthly Period (for any Account Schedule relating to New Accounts) and (b) on the Addition Cut-Off Date (for any Account Schedule relating to Aggregate Addition Accounts). 

“Addition Cut-Off Date” shall mean (a) with respect to New Accounts, the later of the dates on which
such New Accounts are originated or designated, and (b) with respect to Aggregate Addition Accounts, the date specified as such in the notice delivered with respect thereto. 

“Addition Date” shall mean (a) with respect to New Accounts, the first Distribution Date following the
calendar month in which falls the later of the dates on which such New Accounts are originated or designated, and (b) with respect to Aggregate Addition Accounts, the date from and after which such Aggregate Addition Accounts are included as
Accounts pursuant to Subsection 2.02(a)(i). 
 “Addition Selection Date” shall mean, for each Aggregate
Addition Account, the date specified as such in the notice delivered with respect thereto pursuant to Subsection 2.02(a). 

“Additional Account” shall mean each New Account and each Aggregate Addition Account. 

“Affiliate” shall mean, with respect to any specified Person, any other Person controlling or controlled by
or under common control with such specified Person. For the purposes of this definition, “control” shall mean the power to direct the management and policies of a Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms “controlling” and “controlled” shall have meanings correlative to the foregoing. 

“Aggregate Addition Account” means each credit or charge account or line of credit (if, with respect to the
line of credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and the line of credit contains an indicator as described in
Subsection 2.01(c)), established pursuant to an Account Agreement between FSB and any Person, which account or line of credit is designated pursuant to Subsection 2.02(a) to be included as an Account and is identified on an Account Schedule
delivered pursuant to Sections 2.01 and 2.02. 
 “Agreement” shall mean this Amended and Restated
Receivables Purchase Agreement, as the same may be amended and supplemented from time to time. 
 “ARR
Representations and Warranties” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Asset Representations Review” shall have the meaning specified in the Pooling and Servicing Agreement. 

  
 2 

 “Asset Representations Review Agreement” shall have the meaning
specified in the Pooling and Servicing Agreement. 
 “Asset Representations Reviewer” shall have the
meaning specified in the Pooling and Servicing Agreement. 
 “Average Rate” shall have the meaning
specified in the Pooling and Servicing Agreement. 
 “Business Day” shall mean any day other than
(a) a Saturday or Sunday or (b) any other day on which national banking associations, federal savings banks or state banking institutions in New York, New York, or any other State in which the principal executive offices of FSB are
located, are authorized or obligated by law, executive order or governmental decree to be closed. 
 “Cash Advance
Fees” shall mean cash advance transaction fees and cash advance late fees, if any, as specified in any Account Agreement applicable to an Account. 

“Certificateholder” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Closing Date” shall mean the close of business on April 16, 2004. 

“Collection Account” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Collections” shall mean all payments (including Recoveries and Insurance Proceeds) received in respect of
the Receivables, in the form of cash, checks, wire transfers, electronic transfers, ATM transfers or any other form of payment. 

“Conveyance” shall have the meaning specified in Subsection 2.01(a). 

“Credit Guidelines” shall mean the policies and procedures of FSB, as such policies and procedures may be
amended from time to time, (a) relating to the operation of its credit or charge business, as the case may be, which generally are applicable to its portfolio of similar accounts, including the policies and procedures for determining the
creditworthiness of customers and the extension of credit or charge privileges to customers, and (b) relating to the maintenance of accounts and collection of related receivables. 

“Date of Processing” shall mean, with respect to any transaction or receipt of Collections, the Business Day
after such transaction is first output, in written form under the Servicer’s customary and usual practices, from the Servicer’s computer file of Accounts and accounts comparable to the Accounts (without regard to the effective date of
recordation). 
 “Debtor Relief Laws” shall mean (a) the United States Bankruptcy Code and
(b) all other applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization, suspension of payments, readjustment of debt, marshalling of assets, assignment for the benefit of creditors
and similar debtor relief laws from 

  
 3 

 
time to time in effect in any jurisdiction affecting the rights of creditors generally or the rights of creditors of banks. 

“Defaulted Receivable” shall mean a Principal Receivable which is charged off as uncollectible in accordance
with the Credit Guidelines and the Servicer’s customary and usual servicing procedures for servicing accounts comparable to the Accounts. A Principal Receivable shall become a Defaulted Receivable on the Date of Processing on which such
Principal Receivable is recorded as charged-off on the Servicer’s computer file of Accounts. 
 “Deleted
Account” shall mean any Removed Account as to which there are no Receivables arising therein owned by RFC IV. 

“Determination Date” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Distribution Date” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Eligible Account” shall mean a credit or charge account or line of credit (if, with respect to the line of
credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and the line of credit contains an indicator as described in Subsection
2.01(c)), owned by FSB which (i) in the case of the Initial Accounts, as of the selection date related to its date of designation as an “Account” under the Original Pooling Agreement or (ii) in the case of the Additional
Accounts, as of the applicable Addition Selection Date, in each case, meets the following requirements: 
 (a) is a credit
or charge account or line of credit (if, with respect to the line of credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and
the line of credit contains an indicator that it has been sold as described in Subsection 2.01(c)) in existence and maintained by American Express Centurion Bank (in cases that arose prior to the Closing Date) or FSB (in cases that arise on or after
the Closing Date); 
 (b) is payable in United States dollars; 

(c) has an Obligor who is not confirmed by American Express Centurion Bank (in cases that arose prior to the Closing Date) or
FSB (in cases that arise on or after the Closing Date) in its computer files as being involved in a voluntary or involuntary bankruptcy proceeding; 

(d) has an Obligor who has provided, as his or her most recent billing address, an address located in the United States or its
territories or possessions or Canada or a United States military address; provided, however, that, with the consent of RFC IV, as of any date of determination, up to 3% of the Accounts (calculated by number of Accounts) may have
Obligors who have provided, as their billing addresses, addresses located outside of such jurisdictions; 
 (e) if such
account is a credit card or charge card account, has not been identified as an account with respect to which a related card has been lost or stolen; 

  
 4 

 (f) has not been sold or pledged to any other party; 

(g) does not have any receivables that have been sold or pledged by American Express Centurion Bank (in cases that arose prior
to the Closing Date) or FSB (in cases that arise on or after the Closing Date) to any other party (except pursuant to the Original Pooling Agreement); and 

(h) does not have any receivables that are Defaulted Receivables or that have been identified by American Express Centurion
Bank (in cases that arose prior to the Closing Date) or FSB (in cases that arise on or after the Closing Date) as having been incurred as a result of the fraudulent use of a related credit or charge card. 

Notwithstanding the above requirements, Eligible Accounts may include accounts (I) the receivables of which have been written off or (II)
with respect to which American Express Centurion Bank (in cases that arose prior to the Closing Date) or FSB (in cases that arise on or after the Closing Date) has confirmed the related Obligor is bankrupt, in each case as of the selection dates
related to their date of designation as an “Account” under the Original Pooling Agreement with respect to Initial Accounts and as of the related Addition Selection Date with respect to Additional Accounts; provided, however,
that (1) the balance of all receivables included in such accounts is reflected on the books and records of FSB (and is treated for purposes of this Agreement) as “zero,” (b) borrowing and charging privileges with respect to all
such accounts have been canceled in accordance with the Credit Guidelines applicable thereto and will not be reinstated, and (c) any recoveries, insurance proceeds or other amounts realized on such accounts are retained by FSB. 

“Eligible Receivable” shall mean each Receivable: 

(a) which has arisen in an Eligible Account; 

(b) which was created in compliance in all material respects with all Requirements of Law applicable to FSB and pursuant to an
Account Agreement that complies in all material respects with all Requirements of Law applicable to FSB, in either case, the failure to comply with which would have a material adverse effect on RFC IV; 

(c) with respect to which all material consents, licenses, approvals or authorizations of, or registrations or declarations
with, any Governmental Authority required to be obtained, effected or given in connection with the creation of such Receivable or the execution, delivery and performance by FSB of the Account Agreement pursuant to which such Receivable was created,
have been duly obtained, effected or given and are in full force and effect; 
 (d) as to which, at the time of the sale of
such Receivable to RFC IV, FSB has good and marketable title thereto, free and clear of all Liens (other than any Lien for municipal or other local taxes of FSB if such taxes are not then due and payable or if FSB is then contesting the validity
thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto); 

(e) which has been the subject of a valid sale and assignment from FSB to RFC IV of all FSB’s right, title and interest
therein (including any proceeds thereof); 

  
 5 

 (f) which is the legal, valid and binding payment obligation of the Obligor
thereon, enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether
considered in a suit at law or in equity); 
 (g) which, at the time of the sale of such Receivable to RFC IV, has not been
waived or modified except as permitted in accordance with the Credit Guidelines and which waiver or modification is reflected in FSB’s computer file of accounts; 

(h) which, at the time of the sale of such Receivable to RFC IV, is not subject to any right of rescission, setoff,
counterclaim or any other defense (including defenses arising out of violations of usury laws) of the Obligor, other than defenses arising out of applicable Debtor Relief Laws; 

(i) as to which, at the time of the sale of such Receivable to RFC IV, FSB has satisfied all its obligations required to be
satisfied by such time; 
 (j) as to which, at the time of the sale of such Receivable to RFC IV, FSB has not taken any
action which would impair, or omitted to take any action the omission of which would impair, the rights of RFC IV therein; and 

(k) which constitutes either an “account” or a “general intangible” under and as defined in Article 9 of
the UCC as then in effect in any state where the filing of a financing statement is then required to perfect RFC IV’s interest in such Receivable and the proceeds thereof. 

“Finance Charge Receivables” shall mean Receivables created in respect of Periodic Rate Finance Charges, Cash
Advance Fees, annual membership fees and annual service charges, Late Fees, Overlimit Fees, and all other incidental and miscellaneous fees and charges. 

“FSB” shall have the meaning specified in the initial paragraph of this Agreement. 

“Governmental Authority” shall mean the United States of America, any state or other political subdivision
thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

“Group” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Initial Account” shall mean each credit or charge account or line of credit (if, with respect to the line of
credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and the line of credit contains an indicator as described in Subsection
2.01(c)) established pursuant to an Account Agreement between FSB and any Person, which account or line of credit is identified in the Account Schedule delivered to RFC IV by FSB on the Closing Date. 

“Initial Cut-Off Date” shall mean the close of business on April 16, 2004. 

  
 6 

 “Insolvency Event” shall have the meaning specified in
Section 8.02. 
 “Insurance Proceeds” shall mean any amounts received pursuant to the payment of
benefits under any credit life insurance policies, credit disability insurance policies or unemployment insurance policies covering any Obligor with respect to Receivables under such Obligor’s Account. 

“Issuer Rate Fees” shall mean all issuer rate fees payable to FSB in connection with cardholder charges for
goods or services with respect to the Receivables, the amount of which shall be calculated as provided in Subsection 5.01(f). 

“Late Fees” shall have the meaning specified in the Account Agreement applicable to each Account for late
fees or similar terms. 
 “Lien” shall mean any security interest, mortgage, deed of trust, pledge,
hypothecation, assignment, deposit arrangement, equity interest, encumbrance, lien (statutory or other), preference, participation interest, priority or other security agreement or preferential arrangement of any kind or nature whatsoever, including
any conditional sale or other title retention agreement, or any financing lease having substantially the same economic effect as any of the foregoing; provided, however, that the lien created in favor of the Trustee under the Original
Pooling Agreement shall not be deemed to constitute a Lien. 
 “Monthly Period” shall mean, with respect to
each Distribution Date, the calendar month immediately preceding such Distribution Date. 
 “New Account”
shall mean each credit or charge account or line of credit (if, with respect to the line of credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment
of such balance) and the line of credit contains an indicator as described in Subsection 2.01(c)) established pursuant to an Account Agreement between FSB and any Person, which account or line of credit is designated pursuant to Subsection 2.02(b)
to be included as an Account and is identified on an Account Schedule delivered pursuant to Sections 2.01 and 2.02. 

“Obligor” shall mean, with respect to any Account, the Person or Persons obligated to make payments with
respect to such Account, including any guarantor thereof but excluding any merchant. 
 “Officer’s
Certificate” shall mean a certificate delivered to RFC IV signed by any Vice President or more senior officer of FSB. 

“Original Agreement” shall have the meaning specified in the recitals hereto. 

“Original Pooling Agreement” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Overlimit Fees” shall have the meaning specified in the Account Agreement applicable to each Account for
overlimit fees or similar terms if such fees are provided for with respect to such Account. 

  
 7 

 “Pay-Out Event” shall have the meaning specified in the Pooling
and Servicing Agreement. 
 “Periodic Rate Finance Charges” shall have the meaning specified in the Account
Agreement applicable to each Account for finance charges (due to periodic rate) or any similar term. 

“Person” shall mean any person or entity, including any individual, corporation, limited liability company,
partnership, limited liability partnership, limited partnership, joint venture, association, joint-stock company, trust, unincorporated organization, Governmental Authority, or other entity of any nature. 

“Pooling and Servicing Agreement” shall mean the Third Amended and Restated Pooling and Servicing Agreement,
dated as of [            ], 2015, among American Express Receivables Financing Corporation III LLC and RFC IV, as Transferors, American Express Travel Related Services Company, Inc., as
Servicer, and The Bank of New York Mellon, as Trustee, as amended and supplemented from time to time. 
 “Portfolio
Yield” shall have the meaning specified in the Pooling and Servicing Agreement. 
 “Principal
Receivables” shall mean all Receivables other than Finance Charge Receivables. In calculating the aggregate amount of Principal Receivables on any day, the amount of Principal Receivables shall be reduced by the aggregate amount of credit
balances in the Accounts on such day. 
 “Proceeding” shall mean any suit in equity, action at law or other
judicial or administrative proceeding. 
 “Purchase Price” shall have the meaning specified in Subsection
3.01(a). 
 “Purchase Price Adjustment” shall have the meaning specified in Section 3.02. 

“Purchase Price Payment Date” shall have the meaning specified in Subsection 3.01(a). 

“Purchased Assets” shall have the meaning specified in Subsection 2.01(a). 

“Rating Agency” shall mean the nationally-recognized statistical rating agency or agencies, if any, selected
by RFC IV and the other Transferors to rate any securities issued by the Trust. 
 “Receivables” shall mean
all amounts shown on FSB’s records as amounts payable by Obligors on any Account from time to time, including amounts payable for Principal Receivables and Finance Charge Receivables. 

“Recoveries” shall mean all amounts received with respect to Receivables which have previously been
charged-off. 

  
 8 

 “Reinvestment Event” shall have the meaning specified in the
Pooling and Servicing Agreement. 
 “Related Account” shall mean an Account with respect to which a new
account number has been issued by FSB (a)(i) resulting from a lost or stolen credit or charge card relating to such Account (if such Account is a credit or charge card account) or (ii) under circumstances not requiring the standard application
and credit evaluation procedures under the Credit Guidelines applicable to such Account, and (b) that can be traced or identified by reference to or by way of the Account Schedule and the computer or other records of FSB. 

“Removed Account” shall mean any Account as to which FSB has received notice from the Servicer that such
Account is a “Removed Account” as defined in the Pooling and Servicing Agreement. 
 “Requesting
Party” shall have the meaning specified in the Pooling and Servicing Agreement. 
 “Requirements of
Law” shall mean any law, treaty, rule or regulation, or determination of an arbitrator or Governmental Authority, whether federal, state or local (including, without limitation, usury laws, the Federal Truth in Lending Act and Regulation B
and Regulation Z of the Board of Governors of the Federal Reserve System), and, when used with respect to any Person, the certificate of incorporation and by-laws or other organizational or governing documents of such Person. 

“RFC IV” shall have the meaning specified in the initial paragraph of this Agreement. 

“Servicer” shall mean the entity acting as Servicer under the Pooling and Servicing Agreement. 

“Stop Date” shall have the meaning specified in Subsection 2.03(a). 

“Supplemental Conveyance” shall have the meaning specified in Subsection 2.02(b)(v). 

“Transfer Date” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Transfer Restriction Event” shall mean that FSB is unable for any reason to transfer Receivables to RFC IV
in accordance with the provisions of this Agreement, including by reason of the application of the provisions in Section 8.02 or any order of any Governmental Authority. 

“Transferors” shall mean the entities acting as Transferors under the Pooling and Servicing Agreement. 

“Transferred Account” shall mean each credit or charge account or line of credit (if, with respect to the
line of credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of 

  
 9 

 
such balance) and the line of credit contains an indicator as described in Subsection 2.01(c)) into which an Account shall be transferred provided that (a) such transfer was made in
accordance with the Credit Guidelines and (b) such account or line of credit can be traced or identified by reference to or by way of the Account Schedule and the computer or other records of FSB. 

“Trust” shall mean the American Express Credit Account Master Trust, heretofore created and continued by the
Pooling and Servicing Agreement. 
 “Trustee” shall mean the Trustee under the Pooling and Servicing
Agreement. 
 “UCC” shall mean the Uniform Commercial Code as in effect in the applicable jurisdiction.

 Section 1.02. Other Definitional Provisions. 

The words “hereof,” “herein,” “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; and Section, Subsection, Schedule and Exhibit references contained in this Agreement are references to
Sections, Subsections, Schedules and Exhibits in or to this Agreement unless otherwise specified. 
 [END OF ARTICLE I] 

  
 10 

 ARTICLE II 

PURCHASE AND CONVEYANCE OF RECEIVABLES 

Section 2.01. Purchase. 

(a) In consideration of the payment of the Purchase Price as provided herein, FSB does hereby sell, transfer, assign, set over
and otherwise convey to RFC IV (collectively, the “Conveyance”), without recourse except as provided herein, all of its right, title and interest, whether now owned or hereafter acquired, in, to and under the Receivables
existing at the close of business on the Initial Cut-Off Date, in the case of Receivables arising in the Initial Accounts (including Related Accounts and Transferred Accounts with respect to such Initial Accounts), and at the close of business on
the related Addition Cut-Off Date, in the case of Receivables arising in the Additional Accounts (including Related Accounts and Transferred Accounts with respect to such Additional Accounts), and in each case thereafter created from time to time in
such Accounts, all Insurance Proceeds, Issuer Rate Fees and Recoveries allocable to such Receivables, all monies due or to become due and all amounts received or receivable with respect thereto, all Collections with respect thereto, and all proceeds
(including “proceeds” as defined in the UCC) thereof (collectively, the “Purchased Assets”). The Receivables existing in the Initial Accounts at the close of business on the Initial Cut-Off Date and thereafter
arising in the Initial Accounts on or prior to the Closing Date, and the related Purchased Assets, shall be sold by FSB and purchased by RFC IV on the Closing Date. Receivables arising after the Closing Date in the Initial Accounts and the related
Purchased Assets shall be sold by FSB and purchased by RFC IV on the date such Receivables arise. The Receivables existing in Additional Accounts at the close of business on the related Addition Cut-Off Date and thereafter arising in such Additional
Accounts on or prior to the related Addition Date, and the related Purchased Assets, shall be sold by FSB and purchased by RFC IV on the related Addition Date. Receivables arising after such Addition Date in such Additional Accounts and the related
Purchased Assets shall be sold by FSB and purchased by RFC IV on the date such Receivables arise. 
 (b) FSB shall
(i) record and file, at its own expense, any financing statements (and amendments with respect to such financing statements when applicable) with respect to the Purchased Assets meeting the requirements of applicable state law in such manner
and in such jurisdictions as are necessary to perfect, and maintain perfection of, the Conveyance of such Purchased Assets from FSB to RFC IV, (ii) cause such financing statements and amendments to name FSB, as seller, and RFC IV, as purchaser,
of the Purchased Assets and (iii) deliver a file-stamped copy of such financing statements or amendments or other evidence of such filings to RFC IV as soon as is practicable after filing. 

(c) FSB shall, at its own expense, (i) on or prior to (x) the Closing Date, in the case of Initial Accounts, and
(y) the applicable Addition Date, in the case of Additional Accounts, indicate in its books and records (including its computer files) that Receivables created in connection with such Accounts and the related Purchased Assets have been sold to
RFC IV in accordance with this Agreement and have been conveyed by RFC IV to the Trustee pursuant to the Pooling and Servicing Agreement, and (ii) on or prior to (x) the Closing Date, in the case of Initial Accounts, and (y) the
applicable Addition Date, in the case of Additional Accounts, deliver to RFC IV an Account Schedule (provided, however, that such Account 

  
 11 

 
Schedule shall be provided in respect of New Accounts on the Distribution Date immediately succeeding the related Monthly Period during which their respective Addition Dates occur) containing a
true and complete list of all such Accounts. FSB shall not alter the indication referenced in clause (i) of this paragraph with respect to any Account during the term of this Agreement unless and until such Account is no longer an Account or
FSB has taken such action as is necessary or advisable to cause the interest of RFC IV in the Purchased Assets to continue to be perfected and of first priority. The Account Schedules, as supplemented and amended, collectively shall be marked as
Schedule 1 to this Agreement, shall be incorporated into and made a part of this Agreement and shall be updated by FSB on each Addition Date (or with respect to New Accounts, on the Distribution Date immediately succeeding the related
Monthly Period during which their respective Addition Dates occur), but not later than on a semi-annual basis to include any new Related Accounts and Transferred Accounts. 

(d) The parties hereto intend that the conveyance of FSB’s right, title and interest in and to the Purchased Assets shall
constitute an absolute sale, conveying good title free and clear of any liens, claims, encumbrances or rights of others, from FSB to RFC IV. It is the intention of the parties hereto that the arrangements with respect to the Purchased Assets shall
constitute a purchase and sale of such Purchased Assets and not a loan, including for accounting purposes. In the event, however, that it were to be determined that the transactions evidenced hereby constitute a loan and not a purchase and sale, it
is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law, and that FSB shall be deemed to have granted, and FSB does hereby grant, to RFC IV a first priority perfected security interest in
all of FSB’s right, title and interest, whether now owned or hereafter acquired, in, to and under the Purchased Assets to secure the obligations of FSB hereunder. 

(e) To the extent that FSB retains any interest in the Purchased Assets, FSB hereby grants to the Trustee a security interest
in all of FSB’s right, title and interest, whether now owned or hereafter acquired, in, to and under the Purchased Assets, to secure the performance of all of the obligations of FSB hereunder. With respect to such security interest and such
collateral, the Trustee shall have all of the rights that it has under the Pooling and Servicing Agreement. The Trustee shall also have all of the rights of a secured creditor under the UCC. 

(f) Each Account will continue to be owned by FSB and is not a Purchased Asset. 

Section 2.02. Addition of Accounts. 

(a) If (i) RFC IV is required, pursuant to Section 2.09(a) of the Pooling and Servicing Agreement, to
designate additional accounts to the Trust, or (ii) RFC IV elects, pursuant to Section 2.09(b) of the Pooling and Servicing Agreement, to designate additional accounts to the Trust, then in either case RFC IV, at its option, may
give written notice thereof to FSB; provided, however, that such notice shall be provided on or before the eighth (8th) Business Day immediately preceding the related addition date. Upon receipt of such notice and on or prior to
such addition date, FSB shall designate sufficient Eligible Accounts as Aggregate Addition Accounts and shall sell to RFC IV the Purchased Assets related to such Aggregate Addition Accounts. In addition, at its option and with the consent of RFC IV,
FSB may designate 

  
 12 

 
Eligible Accounts as Aggregate Addition Accounts and sell to RFC IV the Purchased Assets related to such Aggregate Addition Accounts. 

(b) At its option and with the consent of RFC IV, FSB may designate Eligible Accounts as New Accounts and sell to RFC IV the
Purchased Assets related to such New Accounts. FSB or RFC IV, each at its option and by written notice to the other party at least ten (10) days in advance, may elect at any time to terminate the inclusion of new accounts which would otherwise
be New Accounts as of any Business Day, to suspend any such inclusion as of any Business Day, or to resume any such inclusion as of any Business Day. 

(c) On the Addition Date with respect to any designation of Additional Accounts, such Additional Accounts shall become
Accounts, and RFC IV shall purchase FSB’s right, title and interest in, to and under the Receivables in such Additional Accounts and the related Purchased Assets as provided in Section 2.01, subject to the satisfaction of the following
conditions on such Addition Date: 
 (i) as of the Addition Selection Date, such Additional Accounts shall be
Eligible Accounts; 
 (ii) FSB shall have delivered to RFC IV copies of UCC financing statements covering
such Additional Accounts, if necessary to perfect RFC IV’s interest in the Receivables arising therein and the related Purchased Assets; 

(iii) FSB shall have delivered to RFC IV all Collections with respect to such Additional Accounts since the
Addition Cut-Off Date; 
 (iv) as of each of the Addition Cut-Off Date and the Addition Date, no Insolvency
Event with respect to FSB shall have occurred nor shall the sale of the Receivables arising in the Additional Accounts and the related Purchased Assets to RFC IV have been made in contemplation of the occurrence thereof; 

(v) in the case of Aggregate Addition Accounts, such addition will not have a material adverse effect on RFC
IV; 
 (vi) FSB shall have delivered to RFC IV an Officer’s Certificate of FSB, dated the Addition Date,
confirming, to the extent applicable and in FSB’s reasonable belief, the items set forth in clauses (i) through (v) above; 

(vii) in the case of New Accounts, such addition will not cause a Pay-Out Event or a Reinvestment Event under
the Pooling and Servicing Agreement; 
 (viii) FSB shall have indicated in its computer files that
Receivables created in connection with such Additional Accounts and the related Purchased Assets have been sold to RFC IV and, in the case of Aggregate Addition Accounts, shall have delivered to RFC IV the Account Schedule with respect to such
Aggregate Addition Accounts; and 
 (ix) FSB and RFC IV shall have entered into a duly executed, written
assignment, substantially in the form of Exhibit A (the “Supplemental Conveyance”). 

  
 13 

 Section 2.03. Removal and Deletion of Accounts. 

(a) If an Account becomes a Removed Account, then FSB shall stop selling to RFC IV Principal Receivables arising in such
Removed Account effective on the Business Day (the “Stop Date”) after the date such Account becomes a Removed Account. Notwithstanding the cessation of the sale to RFC IV of additional Principal Receivables arising in such
Removed Account, Principal Receivables sold to RFC IV prior to the Stop Date, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect of such Principal Receivables, Collections in
respect of such Finance Charge Receivables, and Issuer Rate Fees allocable to the foregoing shall continue to be property of RFC IV available for transfer by RFC IV to the Trustee pursuant to the Pooling and Servicing Agreement. To the extent that
it is not clear to FSB whether collections relate to a Receivable that was sold to RFC IV or to a receivable that FSB did not sell to RFC IV, FSB shall allocate payments on each such Removed Account with respect to the principal balance of such
Removed Account first to the oldest principal balance of such Removed Account. 
 (b) On and after the Stop Date for a
Removed Account, FSB may mark its books and records to indicate that such Account is a Removed Account, but FSB shall not (i) alter the indication referenced in clause (i) of Subsection 2.01(c) with respect to such Removed Account unless
and until such Account becomes a Deleted Account or FSB has taken such action as is necessary or advisable to cause the interest of RFC IV in the Purchased Assets to continue to be perfected and of first priority, or (ii) delete such Removed
Account from Schedule 1 hereto or any Account Schedule. 
 (c) Once a Removed Account becomes a Deleted
Account, FSB shall promptly delete such Deleted Account from Schedule 1 hereto and shall indicate in its computer files that such Deleted Account is no longer an Account. 

[END OF ARTICLE II] 

  
 14 

 ARTICLE III 

CONSIDERATION AND PAYMENT 

Section 3.01. Purchase Price. 

(a) The “Purchase Price” for the Receivables in the Initial Accounts existing at the close of business
on the Initial Cut-Off Date, and the related Purchased Assets, that are conveyed to RFC IV under this Agreement shall be payable on April 19, 2004, in an amount equal to the fair market value of such Receivables and the related Purchased Assets
as mutually agreed upon by FSB and RFC IV. This computation of initial purchase price shall assume no reinvestment in new Receivables. The Purchase Price for the Receivables (including Receivables in Additional Accounts) and the related Purchased
Assets conveyed to RFC IV under this Agreement which come into existence after the Initial Cut-Off Date (i) shall be payable on a date (the “Purchase Price Payment Date”) mutually agreed to by FSB and RFC IV, but no
later than the 15th calendar day (or, if such day is not a Business Day, the next following Business Day) following the calendar month in which such Receivables and the related Purchased Assets are conveyed by FSB to RFC IV and (ii) shall be an
amount equal to 100% of the aggregate balance of the Principal Receivables so conveyed, adjusted to reflect such factors, if any, as FSB and RFC IV mutually agree will result in a Purchase Price determined to be the fair market value of such
Principal Receivables and the related Purchased Assets. FSB hereby acknowledges, and agrees to perform in accordance with, Section 4.03(c) of the Pooling and Servicing Agreement and the related instructions of RFC IV. 

(b) Notwithstanding any other provision of this Agreement, FSB shall not be obligated to continue to sell Receivables or other
Purchased Assets to RFC IV to the extent that FSB is not paid the Purchase Price therefor as provided herein. 

Section 3.02. Adjustments to Purchase Price. The Purchase Price shall be reduced on the Purchase Price Payment
Date (a “Purchase Price Adjustment”) with respect to any Receivable previously conveyed to RFC IV by FSB which is reduced by FSB or the Servicer because of a rebate, refund, or billing error to an Obligor, other than by
reason of a Servicer error. The amount of such reduction shall equal the reduction in the principal balance of such Receivable resulting from the occurrence of such event. In the event that a reduction pursuant to this Section 3.02 causes the
Purchase Price to be a negative number, FSB agrees that, on the Purchase Price Payment Date, FSB shall pay or cause to be paid to RFC IV an amount equal to the amount by which the Purchase Price Adjustment exceeds the unadjusted Purchase Price;
provided, however, that if the reduction relating to such Purchase Price Adjustment also gives rise to an obligation on the part of RFC IV as Transferor to make a deposit in the Special Funding Account pursuant to Section 3.09 of
the Pooling and Servicing Agreement, then FSB and RFC IV hereby agree that the date that RFC IV is required to make such deposit pursuant to Section 3.09 of the Pooling and Servicing Agreement shall be a Purchase Price Payment Date. 

Section 3.03. Use of Name, Logo and Marks. FSB does hereby grant to RFC IV a non-exclusive license to use the name
“American Express Bank, FSB” and all related identifying trade or service marks, signs, symbols, logos, designs, servicing software, customer 

  
 15 

 
lists and other intangibles in connection with the servicing of the Receivables purchased hereunder. The license granted shall be co-extensive with the term of the Agreement. 

[END OF ARTICLE III] 

  
 16 

 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

Section 4.01. Representations and Warranties of FSB Relating to FSB. 

(a) Representations and Warranties. FSB hereby represents and warrants to, and agrees with, RFC IV as of the Closing
Date and on each Addition Date, that: 
 (i) Organization and Good Standing. FSB is a
federally-chartered savings bank validly existing under the laws of the United States of America, and has, in all material respects, full power and authority to own its properties and conduct its business as presently owned or conducted, and to
execute, deliver and perform its obligations under this Agreement. 
 (ii) Due Qualification. FSB is
duly qualified to do business and is in good standing as a foreign corporation or other entity and has obtained all necessary licenses and approvals, in each jurisdiction in which failure to so qualify or to obtain such licenses and approvals would
have a material adverse effect on this Agreement or the transactions contemplated hereby or on the ability of FSB to perform its obligations under this Agreement. 

(iii) Due Authorization. The execution and delivery by FSB of this Agreement and any other document or
instrument delivered by FSB pursuant hereto, including any Supplemental Conveyance, to which FSB is a party and the consummation by FSB of the transactions provided for in this Agreement and any such Supplemental Conveyance, have been duly
authorized by FSB by all necessary action on the part of FSB. 
 (iv) No Conflict or Violation. The
execution and delivery by FSB of this Agreement, the performance by FSB of the transactions contemplated by this Agreement and the fulfillment by FSB of the terms of this Agreement applicable to FSB, will not conflict with or violate any
Requirements of Law applicable to FSB or conflict with, result in any breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a material default under, any indenture, contract,
agreement, mortgage, deed of trust or other instrument to which FSB is a party or by which it or its properties are bound. 

(v) No Proceedings. There are no Proceedings or investigations pending or, to the best knowledge of FSB,
threatened, against FSB before any Governmental Authority (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement, (iii) seeking any
determination or ruling that, in the reasonable judgment of FSB, would materially and adversely affect the performance by FSB of its obligations under this Agreement or (iv) seeking any determination or ruling that, in the reasonable judgment
of FSB, would materially and adversely affect the validity or enforceability of this Agreement. 
 (vi)
All Consents. All authorizations, consents, orders or approvals of or registrations or declarations with any Governmental Authority required to be obtained, 

  
 17 

 
effected or given by FSB in connection with the execution and delivery by FSB of this Agreement and the performance by FSB of the transactions contemplated by this Agreement have been duly
obtained, effected or given and are in full force and effect. 
 (b) Notice of Breach. The representations and
warranties set forth in this Section 4.01 shall survive the sale of the Purchased Assets to RFC IV. Upon discovery by FSB or RFC IV of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give
written notice to the other party and the Trustee within three (3) Business Days following such discovery. 

Section 4.02. Representations and Warranties of FSB Relating to the Agreement and the Receivables. 

(a) Representations and Warranties. FSB hereby represents and warrants to RFC IV as of the Closing Date with respect to
the Initial Accounts (and the Receivables arising therein), and as of the related Addition Date with respect to Additional Accounts (and the Receivables arising therein), that: 

(i) this Agreement and, in the case of Additional Accounts, the related Supplemental Conveyance, each
constitutes a legal, valid and binding obligation of FSB enforceable against FSB in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws or general principles of equity; 

(ii) as of the Initial Cut-Off Date with respect to the Initial Accounts (and the Receivables arising
thereunder), as of the related Addition Cut-Off Date with respect to Aggregate Addition Accounts and as of the Distribution Date immediately succeeding the Monthly Period in which New Accounts were designated with respect to such New Accounts,
Schedule 1 to this Agreement, as supplemented to such date, is an accurate and complete listing in all material respects of all the Accounts as of such applicable date, and the information contained therein with respect to the identity
of such Accounts and the Receivables existing thereunder is true and correct in all material respects as of such applicable date; 

(iii) each Receivable conveyed to RFC IV has been conveyed to RFC IV free and clear of any Lien (other than any
Lien for municipal or other local taxes of FSB if such taxes are not then due and payable or if FSB is then contesting the validity thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect
thereto); 
 (iv) all authorizations, consents, orders or approvals of or registrations or declarations with
any Governmental Authority required to be obtained, effected or given by FSB in connection with the conveyance of Receivables to RFC IV have been duly obtained, effected or given and are in full force and effect; 

(v) this Agreement and, in the case of Additional Accounts, the related Supplemental Conveyance, constitutes a
valid sale to RFC IV of all right, title and interest of FSB in the Purchased Assets, and such sale is perfected under the UCC; 

  
 18 

 (vi) on the selection date related to its date of designation as
an “Account” under the Original Pooling Agreement, with respect to each Initial Account, and on the applicable Addition Selection Date, with respect to each Additional Account, each such Account is an Eligible Account; 

(vii) on the selection date related to its date of designation as an Account, with respect to each Initial
Account, and on the applicable Addition Selection Date, with respect to each Additional Account, each Receivable contained in such Account on such applicable date and sold to RFC IV by FSB is an Eligible Receivable; 

(viii) as of the date of the creation of any new Receivable sold to RFC IV by FSB, such Receivable is an
Eligible Receivable; and 
 (ix) no selection procedures believed by FSB to be materially adverse to the
interests of RFC IV or its transferees have been used in selecting such Accounts. 
 (b) Notice of Breach. The
representations and warranties set forth in this Section 4.02 shall survive the sale of the Purchased Assets to RFC IV. Upon discovery by either FSB or RFC IV of a breach of any of the representations and warranties set forth in this
Section 4.02, the party discovering such breach shall give written notice to the other party and the Trustee within three (3) Business Days following such discovery. FSB hereby acknowledges that RFC IV intends to rely on the
representations hereunder in connection with representations made by RFC IV to secured parties, assignees or subsequent transferees, including transfers made by RFC IV to the Trustee pursuant to the Pooling and Servicing Agreement, and FSB hereby
consents to such reliance. 
 Section 4.03. Representations and Warranties of RFC IV. As of the Closing Date and
each Addition Date, RFC IV hereby represents and warrants to, and agrees with, FSB that: 
 (a) Organization and Good
Standing. RFC IV is a limited liability company duly formed and validly existing under the laws of the State of Delaware, and has, in all material respects, full power and authority to own its properties and conduct its business as such
properties are presently owned and such business is presently conducted, and to execute, deliver and perform its obligations under this Agreement. 

(b) Due Authorization. The execution and delivery by RFC IV of this Agreement and any other document or instrument
delivered pursuant hereto, including any Supplemental Conveyance, to which RFC IV is a party, and the consummation by RFC IV of the transactions provided for in this Agreement and any such Supplemental Conveyance, have been duly authorized by RFC IV
by all necessary company action on the part of RFC IV. 
 (c) No Conflict or Violation. The execution and delivery by
RFC IV of this Agreement, the performance by RFC IV of the transactions contemplated by this Agreement and the fulfillment by RFC IV of the terms of this Agreement applicable to RFC IV, will not conflict with or violate any Requirements of Law
applicable to RFC IV or conflict with, result in any breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a material default under, any indenture, contract, agreement, mortgage,

  
 19 

 
deed of trust or other instrument to which RFC IV is a party or by which it or any of its properties are bound. 

(d) No Proceedings. There are no Proceedings or investigations pending or, to the best knowledge of RFC IV, threatened,
against RFC IV, before any Governmental Authority (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement, (iii) seeking any determination or
ruling that, in the reasonable judgment of RFC IV, would materially and adversely affect the performance by RFC IV of its obligations under this Agreement or (iv) seeking any determination or ruling that, in the reasonable judgment of RFC IV,
would materially and adversely affect the validity or enforceability of this Agreement. 
 (e) All Consents. All
authorizations, consents, orders or approvals of or registrations or declarations with any Governmental Authority required to be obtained, effected or given by RFC IV in connection with the execution and delivery by RFC IV of this Agreement and the
performance by RFC IV of the transactions contemplated by this Agreement have been duly obtained, effected or given and are in full force and effect. 

The representations and warranties set forth in this Section 4.03 shall survive the sale of the Purchased Assets to RFC
IV. Upon discovery by FSB or RFC IV of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give written notice to the other party and the Trustee within three (3) Business Days following such
discovery. 
 [END OF ARTICLE IV] 

  
 20 

 ARTICLE V 

COVENANTS 

Section 5.01. Covenants of FSB. FSB hereby covenants and agrees with RFC IV as follows: 

(a) Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an
Account, FSB will take no action to cause any Receivable sold to RFC IV hereunder to be evidenced by any instrument (as defined in the UCC), and if any Receivable is so evidenced as a result of any action by FSB, it shall be deemed to be a
Receivable described in Subsection 6.01(a) and shall be reassigned to FSB in accordance with Subsection 6.01(b). 
 (b)
Security Interests. Except for the conveyances hereunder, FSB will not sell, pledge, assign or transfer to any other Person, or take any other action inconsistent with RFC IV’s ownership of, the Purchased Assets, or grant, create, incur,
assume or suffer to exist any Lien arising through or under FSB on any Purchased Asset or any interest therein (other than any Lien for municipal or other local taxes of FSB if such taxes are not then due and payable or if FSB is then contesting the
validity thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto), and FSB shall not claim any ownership interest in any Purchased Asset and shall defend the right, title and interest of
RFC IV in, to and under the Purchased Assets against all claims of third parties claiming through or under FSB. 
 (c)
Account Allocations. If a Transfer Restriction Event occurs, FSB agrees (except as prohibited by any such order or any Requirement of Law) to allocate and pay to RFC IV, after the date of such Transfer Restriction Event, all Collections with
respect to Principal Receivables previously sold to RFC IV. To the extent that it is not clear to FSB whether collections relate to a Receivable that was sold to RFC IV or to a receivable that FSB is unable to sell to RFC IV, FSB agrees that it
shall allocate payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account. Notwithstanding any cessation of the sale to RFC IV of additional Principal Receivables, Principal
Receivables sold to RFC IV prior to the occurrence of the Transfer Restriction Event, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect of such Principal Receivables, Collections
in respect of such Finance Charge Receivables, and Issuer Rate Fees allocable to the foregoing shall continue to be property of RFC IV available for transfer by RFC IV to the Trustee pursuant to the Pooling and Servicing Agreement. 

(d) Delivery of Collections. In the event that FSB receives Collections or any other amounts in respect of the
Purchased Assets sold to RFC IV hereunder, FSB agrees to pay to RFC IV (or to the Servicer or the Trustee if RFC IV so directs) all such Collections and other amounts promptly after receipt thereof. 

(e) Notice of Liens. FSB shall notify RFC IV promptly after becoming aware of any Lien arising through or under FSB on
any Purchased Asset other than the conveyances hereunder. 

  
 21 

 (f) Issuer Rate Fees. On each Distribution Date, FSB shall pay to RFC IV,
in immediately available funds, the amount of Issuer Rate Fees allocable to the Receivables. Such amount of Issuer Rate Fees shall be equal to the sum of (i) the product of (A) the rate at which issuer rate fees accrued to FSB during the
second preceding Monthly Period on credit accounts owned by FSB, multiplied by (B) a fraction, (I) the numerator of which is the aggregate amount of cardholder charges in all credit accounts owned by FSB, excluding balance transfer
transactions, purchases made by convenience checks, cash advances, certain ineligible products and services offered by American Express Travel Related Services Company, Inc. or any affiliate or subsidiary thereof, and all other transactions on which
issuer rate fees did not accrue to FSB, in each case with respect to such Monthly Period, and (II) the denominator of which is the aggregate amount of cardholder charges in all credit accounts owned by FSB with respect to such Monthly Period,
multiplied by (C) new Principal Receivables that arose during such Monthly Period in the Accounts that constitute credit accounts, plus (ii) the product of (A) the rate at which issuer rate fees accrued to FSB during the second
preceding Monthly Period on charge accounts or lines of credit owned by FSB, multiplied by (B) a fraction, (I) the numerator of which is the aggregate amount of obligor charges on all charge accounts or lines of credit owned by FSB,
excluding balance transfer transactions, purchases made by convenience checks, cash advances, certain ineligible products and services offered by American Express Travel Related Services Company, Inc. or any affiliate or subsidiary thereof, and all
other transactions on which issuer rate fees did not accrue to FSB, in each case with respect to such Monthly Period, and (II) the denominator of which is the aggregate amount of obligor charges on all charge accounts or lines of credit owned by FSB
with respect to such Monthly Period, multiplied by (C) new Principal Receivables that arose during such Monthly Period in the Accounts that constitute charge accounts or lines of credit. 

(g) Documentation of Transfer. FSB shall timely file in all appropriate filing offices the documents which are
necessary or advisable to perfect and maintain the perfection of the sale of the Purchased Assets to RFC IV. 
 (h)
Periodic Rate Finance Charges. Except (i) as otherwise required by any Requirements of Law or (ii) as is deemed by FSB to be necessary in order for it to maintain its credit or charge business or a program operated by such credit or
charge business on a competitive basis based on a good faith assessment by it of the nature of the competition with respect to such credit or charge business or such program, FSB shall not at any time reduce the annual percentage rate of the
Periodic Rate Finance Charges assessed on the Receivables or take any other action with respect to any of the Accounts if, as a result of any such action, FSB’s reasonable expectation is that such action will cause a Pay-Out Event or a
Reinvestment Event to occur under the Pooling and Servicing Agreement based on the insufficiency of Portfolio Yield or any similar test. In addition, except as otherwise required by any Requirements of Law, FSB shall not at any time reduce the
annual percentage rate of the Periodic Rate Finance Charges assessed on the Receivables or take any other action with respect to any of the Accounts if, as a result of any such action, FSB’s reasonable expectation is that such action will cause
the Portfolio Yield under the Pooling and Servicing Agreement to be less than the then-current highest Average Rate for any Group. 

(i) Account Agreements and Guidelines. Subject to compliance with all Requirements of Law and paragraph (h) above,
FSB may change the terms and provisions of the 

  
 22 

 
Account Agreements or the Credit Guidelines applicable to the Accounts in any respect (including the calculation of the amount or the timing of charge-offs and the Periodic Rate Finance Charges
to be assessed thereon). Notwithstanding the above, unless required by Requirements of Law or as permitted by paragraph (h) above, FSB will not take any action with respect to such Account Agreements or such Credit Guidelines which, at the time
of such action, FSB reasonably believes will have a material adverse effect on RFC IV. 
 (j) Name and Type and
Jurisdiction of Organization. FSB shall not change its name or its type or jurisdiction of organization without previously having delivered to RFC IV an opinion of counsel to the effect that all actions have been taken, and all filings have been
made, as are necessary to continue and maintain the first-priority perfected ownership interest of RFC IV in the Purchased Assets. 

(k) Annual Opinion. On or before March 31st of each calendar year, commencing March 31, 2016, FSB shall
deliver to RFC IV, with a copy to the Trustee, an opinion of counsel to the effect that (i) no further action with respect to the recording or filing of any financing statements, any amendments to financing statements, or any other documents or
filings is then necessary to perfect the ownership interest of RFC IV in the Purchased Assets, and (ii) no further action with respect to the recording or filing of any financing statements, any amendments to financing statements, or any other
documents or filings will be necessary prior to March 31st of the next calendar year to perfect the ownership interest of RFC IV in the Purchased Assets or stating what such filings will be necessary prior to such March 31st. 

(l) Asset Representations Review. FSB shall (i) cooperate with the Asset Representations Reviewer in creating and,
from time to time, reviewing procedures for an Asset Representations Review, and (ii) cooperate with the Servicer to provide the Asset Representations Reviewer with reasonable access to information upon the initiation of an Asset
Representations Review pursuant to Section 4.08(a) of the Pooling and Servicing Agreement. Following the completion of an Asset Representations Review and the delivery of the related report by the Asset Representations Reviewer, RFC IV will
provide a copy of such report to FSB, and FSB shall determine whether any noncompliance with the Covered Representations constitutes a breach of any of such Covered Representations. 

(m) Asset Representations Reviewer Fees and Expenses. At the direction of RFC IV, FSB shall pay, or shall reimburse RFC
IV for the payment of, the fees and expenses payable to the Asset Representations Reviewer pursuant to the Asset Representations Review Agreement. 

(n) Resolution of Repurchase Disputes. FSB shall cooperate with the Requesting Party in connection with any dispute
resolution proceeding commenced pursuant to Section 4.09 of the Pooling and Servicing Agreement and shall comply with any obligations of the “Representing Party” applicable to it thereunder. RFC IV hereby agrees to provide FSB with
the opportunity to exercise any rights of RFC IV pursuant to the Pooling and Servicing Agreement with respect to any dispute resolution proceeding commenced pursuant to Section 4.09 of the Pooling and Servicing Agreement to the extent the
related dispute relates to the representations and warranties of FSB contained in Section 4.02. 

  
 23 

 [END OF ARTICLE V] 

  
 24 

 ARTICLE VI 

REPURCHASE OBLIGATION 

Section 6.01. Reassignment of Ineligible Receivables. 

(a) In the event any representation or warranty under Subsection 4.02(a)(ii), (iii), (iv), (vi), (vii) or (viii) is
not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and as a result of such breach RFC IV is required under Subsection 2.05(a) of the Pooling and Servicing Agreement to
accept reassignment of such Receivables previously sold by FSB to RFC IV pursuant to this Agreement, FSB shall accept reassignment of such Receivables on the terms and conditions set forth in Subsection 6.01(b). 

(b) FSB shall accept reassignment of any Receivables described in Subsection 6.01(a) from RFC IV on the date on which such
Receivables are reassigned to RFC IV pursuant to Subsection 2.05(a) of the Pooling and Servicing Agreement, and shall pay for such reassigned Receivables by paying to RFC IV in immediately available funds an amount equal to the unpaid balance of
such Receivables. Upon reassignment of such Receivables, RFC IV shall automatically and without further action sell, transfer, assign, set-over and otherwise convey to FSB, without recourse, representation or warranty, all the right, title and
interest of RFC IV in and to such Receivables, all Insurance Proceeds, Issuer Rate Fees and Recoveries allocable to such Receivables, all monies due or to become due and all amounts received or receivable with respect thereto, all Collections with
respect thereto, and all proceeds (including “proceeds” as defined in the UCC) thereof. Such reassigned Receivables shall be treated by RFC IV as collected in full as of the date on which they were reassigned. RFC IV shall execute such
documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested by FSB to effect the conveyance of such Receivables and other property pursuant to this Subsection. 

Section 6.02. Reassignment of Other Receivables. 

(a) In the event any representation or warranty set forth in Subsection 4.01(a) or (c) or Subsection 4.02(a)(i) or
(v) is not true and correct in any material respect and as a result of such breach RFC IV is required under Section 2.06 of the Pooling and Servicing Agreement to accept a reassignment of all of the Receivables previously sold by FSB to
RFC IV pursuant to this Agreement, FSB shall accept a reassignment of such Receivables on the terms and conditions set forth in Subsection 6.02(b). 

(b) FSB shall accept reassignment of any Receivables described in Subsection 6.02(a) from RFC IV on the date on which such
Receivables are reassigned to RFC IV, and shall pay for such reassigned Receivables by paying to RFC IV, not later than 11:00 a.m., New York City time, on the first Transfer Date following the Monthly Period in which such reassignment
obligation arises, an amount equal to the unpaid balance of such Receivables. Upon reassignment of such Receivables, RFC IV shall automatically and without further action sell, transfer, assign, set-over and otherwise convey to FSB, without
recourse, representation or warranty, all the right, title and interest of RFC IV in and to such Receivables, all Insurance Proceeds, Issuer Rate Fees and Recoveries allocable to such Receivables, all monies due or to

  
 25 

 
become due and all amounts received or receivable with respect thereto, all Collections with respect thereto, and all proceeds (including “proceeds” as defined in the UCC) thereof. Such
reassigned Receivables shall be treated by RFC IV as collected in full as of the date on which they were reassigned. RFC IV shall execute such documents and instruments of transfer or assignment and take such other actions as shall reasonably be
requested by FSB to effect the conveyance of such Receivables and other property pursuant to this Section. 
 [END OF ARTICLE VI] 

  
 26 

 ARTICLE VII 

CONDITIONS PRECEDENT 

Section 7.01. Conditions to RFC IV’s Obligations Regarding Initial Receivables. The obligations of RFC IV to
purchase the Receivables in the Initial Accounts on the Closing Date shall be subject to the satisfaction of the following conditions: 

(a) all representations and warranties of FSB contained in this Agreement shall be true and correct on the Closing Date with
the same effect as though such representations and warranties had been made on such date (except that, to the extent any such representation or warranty expressly relates to an earlier date, such representation or warranty was true and correct on
such earlier date); 
 (b) all information concerning the Initial Accounts provided to RFC IV shall be true and correct as
of the Initial Cut-Off Date in all material respects; 
 (c) FSB shall have (i) delivered to RFC IV a true and correct
Account Schedule with respect to the Initial Accounts, and (ii) performed all other obligations required to be performed by FSB on or before the Closing Date by the provisions of this Agreement; 

(d) FSB shall have recorded and filed, at its expense, any financing statement with respect to the Purchased Assets meeting
the requirements of applicable law in such manner and in such jurisdictions as are necessary to perfect the sale of the Purchased Assets from FSB to RFC IV, and shall deliver a file-stamped copy of such financing statements or other evidence of such
filings to RFC IV; and 
 (e) all corporate and legal proceedings and all instruments in connection with the transactions
contemplated by this Agreement shall be satisfactory in form and substance to RFC IV, and RFC IV shall have received from FSB copies of all documents (including records of corporate proceedings) relevant to the transactions herein contemplated as
RFC IV may reasonably have requested. 
 Section 7.02. Conditions Precedent to FSB’s Obligations. The
obligations of FSB to sell the Receivables in the Initial Accounts on the Closing Date shall be subject to the satisfaction of the following conditions: 

(a) all representations and warranties of RFC IV contained in this Agreement shall be true and correct on the Closing Date
with the same effect as though such representations and warranties had been made on such date (except that, to the extent any such representation or warranty expressly relates to an earlier date, such representation or warranty was true and correct
on such earlier date); 
 (b) payment or provision for payment of the Purchase Price in accordance with Section 3.01
hereof shall have been made; and 
 (c) all company and legal proceedings and all instruments in connection with the
transactions contemplated by this Agreement shall be satisfactory in form and substance to FSB, 

  
 27 

 
and FSB shall have received from RFC IV copies of all documents (including records of company proceedings) relevant to the transactions herein contemplated as FSB may reasonably have requested.

 [END OF ARTICLE VII] 

  
 28 

 ARTICLE VIII 

TERM AND PURCHASE TERMINATION 

Section 8.01. Term. This Agreement shall commence as of the date of execution and delivery hereof and shall
continue at least until the earlier of (i) the termination of the Trust as provided in Article XII of the Pooling and Servicing Agreement and (ii) the Pooling and Servicing Agreement being amended for the purpose of replacing RFC IV as
Transferor under the Pooling and Servicing Agreement. Thereafter this Agreement may be terminated by the mutual agreement of the parties hereto. 

Section 8.02. Purchase Termination. If (i) FSB shall file a petition or commence a Proceeding (A) to
take advantage of any bankruptcy, conservatorship, receivership, insolvency, or similar laws or (B) for the appointment of a trustee, conservator, receiver, liquidator, or similar official for or relating to FSB or all or substantially all of
its property, (ii) FSB shall consent or fail to object to any such petition filed or Proceeding commenced against or with respect to it or all or substantially all of its property, or any such petition or Proceeding shall not have been
dismissed within sixty (60) days of its filing or commencement, or a court, agency, or other supervisory authority with jurisdiction shall have decreed or ordered relief with respect to any such petition or Proceeding, (iii) FSB shall be
unable, or shall admit in writing its inability, to pay its debts generally as they become due, (iv) FSB shall make an assignment for the benefit of its creditors or (v) FSB shall voluntarily suspend payment of its obligations (each, an
“Insolvency Event”); then FSB shall immediately cease to sell Principal Receivables to RFC IV and shall promptly give notice to RFC IV and the Trustee of such Insolvency Event. Notwithstanding any cessation of the sale to RFC
IV of additional Principal Receivables, Principal Receivables sold to RFC IV prior to the occurrence of such Insolvency Event, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect
of such Principal Receivables, Collections in respect of such Finance Charge Receivables, and Issuer Rate Fees allocable to the foregoing shall continue to be property of RFC IV available for transfer by RFC IV to the Trustee pursuant to the Pooling
and Servicing Agreement. To the extent that it is not clear to FSB whether collections relate to a Receivable that was sold to RFC IV or to a receivable that FSB has not sold to RFC IV, FSB agrees that it shall allocate payments on each Account with
respect to the principal balance of such Account first to the oldest principal balance of such Account. 
 [END OF ARTICLE VIII] 

  
 29 

 ARTICLE IX 

MISCELLANEOUS PROVISIONS 

Section 9.01. Amendment. This Agreement may not be changed orally, but only by an instrument in writing signed by
RFC IV and FSB in accordance with this Section 9.01; provided, however, that no amendment shall be effective unless (x) FSB and RFC IV have given prior notice to the Trustee and each Rating Agency, and (y) written
confirmation has been received by RFC IV from each Rating Agency that such amendment will not result in the reduction or withdrawal of the respective ratings of such Rating Agency for any securities issued by the Trust; provided,
further, that FSB shall have delivered to RFC IV an Officer’s Certificate of FSB, dated the date of such action, stating that FSB reasonably believes that such action will not cause a Pay-Out Event or a Reinvestment Event. Any conveyance
(including any Supplemental Conveyance) or reassignment executed in accordance with the provisions hereof shall not be considered to be an amendment to this Agreement. A copy of any amendment to this Agreement shall be sent to each Rating Agency.

 Section 9.02. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 9.03. Notices. All demands, notices and communications hereunder shall be in writing and shall be deemed
to have been duly given if personally delivered at or mailed by certified mail, return receipt requested and postage prepaid, to (a) in the case of FSB, American Express Bank, FSB, 4315 South 2700 West, 02-01-58, Salt Lake City, Utah 84184,
Attention: President (facsimile: (801) 945-4050), (b) in the case of RFC IV, American Express Receivables Financing Corporation IV LLC, 4315 South 2700 West, Room 1100, 02-01-46, Salt Lake City, Utah 84184, Attention: President (facsimile:
(801) 945-4060) and (c) in the case of the Trustee, The Bank of New York Mellon, 101 Barclay Street, Floor 7 West, New York, New York 10286, Attention: Corporate Trust Administration – Asset Backed Securities (facsimile:
212-815-3883); or, as to each party, at such other address as shall be designated by such party in a written notice to each other party in accordance with this Section 9.03. 

Section 9.04. Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of
this Agreement shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions, or terms shall be deemed severable from the remaining covenants, agreements, provisions, and terms of this Agreement and shall in no way
affect the validity or enforceability of the other provisions of this Agreement. 
 Section 9.05. Assignment.
Notwithstanding anything to the contrary contained herein, other than RFC IV’s assignment of its right, title, and interest in, to, and under this Agreement to the Trustee as contemplated by the Pooling and Servicing Agreement and
Section 9.06 hereof, this Agreement may not be assigned by the parties hereto; provided, however, that FSB shall have the right to assign its right, title and interest in, to and under this Agreement to

  
 30 

 
(a) any successor by merger assuming this Agreement or (b) to any other entity; provided, further, that (x) in the case of an assignment pursuant to clauses (a) and
(b), FSB has given ten (10) days prior notice to RFC IV, the Trustee and each Rating Agency, and (y) in the case of an assignment pursuant to clause (b), written confirmation has been received by RFC IV and the Trustee from each Rating
Agency that such assignment will not result in the reduction or withdrawal of the respective ratings of such Rating Agency for any securities issued by the Trust. 

Section 9.06. Acknowledgement and Agreement of FSB. By execution below, FSB expressly acknowledges and agrees that
all of RFC IV’s right, title, and interest in, to, and under this Agreement, including all of RFC IV’s right, title, and interest in and to the Purchased Assets, may be assigned by RFC IV to the Trustee, and FSB consents to such
assignment. FSB further agrees that notwithstanding any claim, counterclaim, right of setoff or defense which it may have against RFC IV, due to a breach by RFC IV of this Agreement or for any other reason, and notwithstanding the bankruptcy of RFC
IV or any other event whatsoever, FSB’s sole remedy shall be a claim against RFC IV for money damages, and then only to the extent of funds available to RFC IV, and in no event shall FSB assert any claim on or any interest in the Purchased
Assets or take any action which would reduce or delay receipt by the Trustee of Collections with respect to the Purchased Assets. Additionally, FSB agrees that any amounts payable by FSB to RFC IV hereunder which are to be paid by RFC IV to the
Trustee or the Servicer shall be paid by FSB directly to the Trustee or the Servicer, as applicable, as assignee of RFC IV. 

Section 9.07. Further Assurances. RFC IV and FSB agree to do and perform, from time to time, any and all acts and
to execute any and all further instruments required or reasonably requested by the other party or the Trustee more fully to effect the purposes of this Agreement, including the execution of any financing statements or amendments thereto or
equivalent documents relating to the Purchased Assets for filing under the provisions of the UCC or other law of any applicable jurisdiction. 

Section 9.08. No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of
RFC IV or FSB, any right, remedy, power or privilege hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the
exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exhaustive of any rights, remedies, powers and privileges provided by law. 

Section 9.09. Counterparts. This Agreement 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 together shall constitute one and the same instrument. 

Section 9.10. Binding; Third-Party Beneficiaries. This Agreement will inure to the benefit of and be binding upon
the parties hereto and their respective successors and permitted assigns. The Trust and the Trustee shall be considered third-party beneficiaries of this Agreement. 

  
 31 

 Section 9.11. Merger and Integration. Except as specifically stated
otherwise herein, this Agreement sets forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement. This Agreement may not be modified, amended,
waived or supplemented except as provided herein. 
 Section 9.12. Headings. The headings are for purposes of
reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 
 Section 9.13.
Schedules and Exhibits. The schedules and exhibits attached hereto and referred to herein shall constitute a part of this Agreement and are incorporated into this Agreement for all purposes. 

Section 9.14. Survival of Representations and Warranties. All representations, warranties and agreements contained
in this Agreement or contained in any Supplemental Conveyance shall remain operative and in full force and effect and shall survive conveyance of the Purchased Assets by RFC IV to the Trustee pursuant to the Pooling and Servicing Agreement. 

Section 9.15. Nonpetition Covenant. Notwithstanding any prior termination of this Agreement, FSB shall not, prior
to the date which is one year and one day after the termination of this Agreement, acquiesce, petition or otherwise invoke or cause RFC IV or the Trust to invoke the process of any Governmental Authority for the purpose of commencing or sustaining a
case against RFC IV or the Trust under any Debtor Relief Law or appointing a receiver, conservator, liquidator, assignee, trustee, custodian, sequestrator or other similar official of RFC IV or the Trust or any substantial part of its property or
ordering the winding-up or liquidation of the affairs of RFC IV or the Trust. 
 [END OF ARTICLE IX] 

  
 32 

 IN WITNESS WHEREOF, RFC IV and FSB have caused this Receivables Purchase
Agreement to be duly executed by their respective officers as of the date first above written. 
  

			
	 AMERICAN EXPRESS BANK, FSB

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Acknowledged and Accepted by: 
  

			
	 THE BANK OF NEW YORK MELLON,

	 as Trustee

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 EXHIBIT A 

FORM OF SUPPLEMENTAL CONVEYANCE 

(As required by Section 2.02 of 

the Receivables Purchase Agreement) 

SUPPLEMENTAL CONVEYANCE No. [        ], dated as of
[                    ], by and between AMERICAN EXPRESS BANK, FSB, a federally-chartered savings bank (together with its permitted successors and
assigns, “FSB”), and AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC, a Delaware limited liability company (together with its permitted successors and assigns, “RFC IV”), pursuant to the
Receivables Purchase Agreement referred to below. 
 W I T N E S S E T H: 

WHEREAS, FSB and RFC IV are parties to an Amended and Restated Receivables Purchase Agreement, dated as of
[            ], 2015 (hereinafter as such agreement may have been, or may from time to time be, amended, supplemented or otherwise modified, the “Receivables Purchase
Agreement”); 
 WHEREAS, pursuant to the Receivables Purchase Agreement, FSB wishes to designate Aggregate
Addition Accounts to be included as Accounts and FSB wishes to convey its right, title and interest in the Receivables of such Aggregate Addition Accounts, whether existing on the Addition Cut-Off Date or thereafter created, to RFC IV pursuant to
the Receivables Purchase Agreement; and 
 WHEREAS, RFC IV is willing to accept such designation and conveyance subject to
the terms and conditions hereof. 
 NOW, THEREFORE, FSB and RFC IV hereby agree as follows: 

1. Defined Terms. All capitalized terms used herein shall have the meanings ascribed to them in the Receivables
Purchase Agreement unless otherwise defined herein. 
 “Addition Date” shall mean, with respect to the
Aggregate Addition Accounts, [                    ]. 

“Addition Cut-Off Date” shall mean, with respect to the Aggregate Addition Accounts,
[                    ]. 

“Additional Purchased Assets” shall have the meaning set forth in Subsection 3(a). 

  
 A-1 

 “Aggregate Addition Accounts” shall mean the Aggregate Addition
Accounts, as defined in the Receivables Purchase Agreement, that are designated hereby and listed on Schedule 1 hereto. [To be modified for New Accounts.] 

2. Designation of Aggregate Addition Accounts. FSB delivers herewith an Account Schedule containing a true and complete
list of the Aggregate Addition Accounts. Such Account Schedule is incorporated into and made part of this Supplemental Conveyance, shall be Schedule 1 to this Supplemental Conveyance and shall supplement Schedule 1 to the
Receivables Purchase Agreement. [To be modified for New Accounts.] 
 3. Conveyance of Receivables. 

(a) FSB does hereby sell, transfer, assign, set over and otherwise convey to RFC IV, without recourse except as provided in
the Receivables Purchase Agreement, all of its right, title and interest, whether now owned or hereafter acquired, in, to and under the Receivables arising in the Aggregate Addition Accounts (including Related Accounts and Transferred Accounts with
respect to such Aggregate Addition Accounts), existing at the close of business on the Addition Cut-Off Date and thereafter created, all Insurance Proceeds, Issuer Rate Fees and Recoveries allocable to such Receivables, all monies due or to become
due and all amounts received or receivable with respect thereto, all Collections with respect thereto, and all proceeds (including “proceeds” as defined in the UCC) thereof (collectively, the “Additional Purchased
Assets”). 
 (b) In connection with such sale and if necessary, FSB agrees to record and file, at its own
expense, one or more financing statements (and amendments with respect to such financing statements when applicable) with respect to the Additional Purchased Assets meeting the requirements of applicable state law in such manner and in such
jurisdictions as are necessary to perfect the sale of the Additional Purchased Assets to RFC IV, and to deliver a file-stamped copy of such financing statements or amendments or other evidence of such filing to RFC IV. 

(c) In connection with such sale, FSB further agrees, at its own expense, on or prior to the date of this Supplemental
Conveyance, to indicate in the appropriate computer files that all Receivables created in connection with the Aggregate Addition Accounts and the related Additional Purchased Assets have been conveyed to RFC IV pursuant to this Supplemental
Conveyance. 
 (d) The parties hereto intend that the conveyance of FSB’s right, title and interest in and to the
Additional Purchased Assets shall constitute an absolute sale, conveying good title free and clear of any liens, claims, encumbrances or rights of others from FSB to RFC IV. It is the intention of the parties hereto that the arrangements with
respect to the Additional Purchased Assets shall constitute a purchase and sale of such Additional Purchased Assets and not a loan, including for accounting purposes. In the event, however, that it were to be determined that the transactions
evidenced hereby constitute a loan and not a purchase and sale, it is the intention of the parties hereto that this Supplemental Conveyance shall constitute a security agreement under applicable law, and that FSB shall be deemed to have granted, and
FSB does hereby grant, to RFC 

  
 A-2 

 
IV a first priority perfected security interest in all of FSB’s right, title and interest, whether now owned or hereafter acquired, in, to and under the Additional Purchased Assets to secure
the obligations of FSB hereunder and under the Receivables Purchase Agreement. 
 (e) To the extent that FSB retains any
interest in the Additional Purchased Assets, FSB hereby grants to the Trustee a security interest in all of FSB’s right, title and interest, whether now owned or hereafter acquired, in, to and under the Additional Purchased Assets, to secure
the performance of all of the obligations of FSB hereunder and under the Receivables Purchase Agreement. With respect to such security interest and such collateral, the Trustee shall have all of the rights that it has under the Pooling and Servicing
Agreement. The Trustee shall also have all of the rights of a secured creditor under the UCC. 
 4. Acceptance by RFC
IV. RFC IV hereby acknowledges that, prior to or simultaneously with the execution and delivery of this Supplemental Conveyance, FSB delivered to RFC IV the Account Schedule described in Section 2 of this Supplemental Conveyance with
respect to all Additional Accounts. [To be modified for New Accounts.] 
 5. Representations and Warranties of FSB.
FSB hereby acknowledges on the Addition Date that it makes the representations and warranties in Sections 4.01 and 4.02 of the Receivables Purchase Agreement with respect to the Aggregate Addition Accounts. 

6. Ratification of the Receivables Purchase Agreement. The Receivables Purchase Agreement is hereby ratified, and all
references to the “Receivables Purchase Agreement,” to “this Agreement” and “herein” shall be deemed from and after the Addition Date to be a reference to the Receivables
Purchase Agreement as supplemented and amended by this Supplemental Conveyance. Except as expressly amended hereby, all the representations, warranties, terms, covenants and conditions of the Receivables Purchase Agreement shall remain unamended and
shall continue to be, and shall remain, in full force and effect in accordance with its terms and except as expressly provided herein shall not constitute or be deemed to constitute a waiver of compliance with or consent to non-compliance with any
term or provision of the Receivables Purchase Agreement. 
 7. Counterparts. This Supplemental Conveyance may be
executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. 
 8.
GOVERNING LAW. THIS SUPPLEMENTAL CONVEYANCE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 A-3 

 IN WITNESS WHEREOF, RFC IV and FSB have caused this Supplemental Conveyance to be
duly executed and delivered by their respective duly authorized officers on the date first above written. 
  

			
	 AMERICAN EXPRESS BANK, FSB

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Acknowledged and Accepted by: 
  

			
	 THE BANK OF NEW YORK MELLON,

	 as Trustee

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 A-4 

 Schedule 1 to 

Supplemental 
 Conveyance

 AGGREGATE ADDITION ACCOUNTS 

  
 A-5 

 Schedule 1 

LIST OF ACCOUNTS 

[Delivered] 

  
 I-1EX-10.1

 Exhibit 10.1 
  

 
  

[FORM OF] ASSET REPRESENTATIONS REVIEW AGREEMENT 

AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC, 

and 
 AMERICAN EXPRESS RECEIVABLES
FINANCING CORPORATION IV LLC, 
 as Transferors, 

and 
 AMERICAN EXPRESS TRAVEL
RELATED SERVICES COMPANY, INC., 
 as Servicer, 

and 

[            ], 

as Asset Representations Reviewer 
  

 
 American
Express Credit Account Master Trust 
 Dated as of
[                    ] 
  

 

 Table of Contents 
  

									
	 ARTICLE I
	  	 	1	  
				
		  	 Section 1.01
	  	 Definitions
	  	 	1	  
		
	 ARTICLE II
	  	 	4	  
				
		  	 Section 2.01
	  	 Engagement; Acceptance
	  	 	4	  
				
		  	 Section 2.02
	  	 Eligibility of Asset Representations Reviewer
	  	 	4	  
				
		  	 Section 2.03
	  	 Independence of the Asset Representations Review
	  	 	4	  
		
	 ARTICLE III
	  	 	4	  
				
		  	 Section 3.01
	  	 Review Scope
	  	 	4	  
				
		  	 Section 3.02
	  	 Review Notices
	  	 	5	  
				
		  	 Section 3.03
	  	 Review Materials
	  	 	5	  
				
		  	 Section 3.04
	  	 Missing or Incomplete Review Materials
	  	 	6	  
				
		  	 Section 3.05
	  	 The Asset Representation Review
	  	 	7	  
				
		  	 Section 3.06
	  	 Review Period
	  	 	7	  
				
		  	 Section 3.07
	  	 Review Reports
	  	 	7	  
				
		  	 Section 3.08
	  	 Review and Procedure Limitations
	  	 	8	  
				
		  	 Section 3.09
	  	 Review Systems
	  	 	8	  
				
		  	 Section 3.10
	  	 Representatives
	  	 	8	  
				
		  	 Section 3.11
	  	 Dispute Resolution
	  	 	9	  
				
		  	 Section 3.12
	  	 Records Retention
	  	 	9	  
		
	 ARTICLE IV
	  	 	9	  
				
		  	 Section 4.01
	  	 Asset Representation Reviewer Fees
	  	 	9	  
				
		  	 Section 4.02
	  	 Reimbursable Expenses
	  	 	10	  
		
	 ARTICLE V
	  	 	10	  
				
		  	 Section 5.01
	  	 Representations and Warranties of the Asset Representations Reviewer
	  	 	10	  
				
		  	 Section 5.02
	  	 Limitation of Liability
	  	 	12	  
				
		  	 Section 5.03
	  	 Indemnification of Asset Representations Reviewer
	  	 	12	  
				
		  	 Section 5.04
	  	 Indemnification by Asset Representations Reviewer
	  	 	12	  
		
	 ARTICLE VI
	  	 	13	  

									
				
		  	 Section 6.01
	  	 Removal of Asset Representations Reviewer
	  	 	13	  
				
		  	 Section 6.02
	  	 Appointment of Successor
	  	 	13	  
				
		  	 Section 6.03
	  	 Merger of Consolidation of, or Assumption of the Obligations of, Asset the Representations Reviewer
	  	 	14	  
				
		  	 Section 6.04
	  	 Asset Representations Reviewer Not to Resign
	  	 	14	  
				
		  	 Section 6.05
	  	 Notice of Resignation or Removal
	  	 	15	  
		
	 ARTICLE VII
	  	 	15	  
				
		  	 Section 7.01
	  	 Confidential Information
	  	 	15	  
				
		  	 Section 7.02
	  	 Personally Identifiable Information
	  	 	16	  
				
		  	 Section 7.03
	  	 Maintenance and Safeguarding
	  	 	16	  
				
		  	 Section 7.04
	  	 Disclosure by Operation of Law
	  	 	17	  
				
		  	 Section 7.05
	  	 Remedies
	  	 	17	  
		
	 ARTICLE VIII
	  	 	17	  
				
		  	 Section 8.01
	  	 Termination of the Trust
	  	 	17	  
		
	 ARTICLE IX
	  	 	18	  
				
		  	 Section 9.01
	  	 Amendment
	  	 	18	  
				
		  	 Section 9.02
	  	 Notices
	  	 	18	  
				
		  	 Section 9.03
	  	 Severability Clause
	  	 	19	  
				
		  	 Section 9.04
	  	 Counterparts
	  	 	19	  
				
		  	 Section 9.05
	  	 Governing Law
	  	 	19	  
				
		  	 Section 9.06
	  	 Relationship of the Parties
	  	 	19	  
				
		  	 Section 9.07
	  	 Captions
	  	 	20	  
				
		  	 Section 9.08
	  	 Waivers
	  	 	20	  
				
		  	 Section 9.09
	  	 Assignment
	  	 	20	  
				
		  	 Section 9.10
	  	 Benefit of the Agreement
	  	 	20	  
				
		  	 Section 9.11
	  	 Exhibits
	  	 	20	  
				
		  	 Section 9.12
	  	 Survival
	  	 	20	  
		
	 EXHIBITS
	  			
				
		  	 Exhibit A
	  	 Covered Representations, Review Materials and Tests
	  	 	A-1	  

 ASSET REPRESENTATIONS REVIEW AGREEMENT 

This ASSET REPRESENTATIONS REVIEW AGREEMENT (this “Agreement”) is made and entered into as of the
[    ] day of [    ], 20[    ] (the “Engagement Date”), by and among AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC, a Delaware limited liability company, and
AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC, a Delaware limited liability company, as Transferors (the “Transferors”), AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., a New York corporation, as Servicer (in
such capacity, the “Servicer”), and [    ], a [    ], as Asset Representations Reviewer, and acknowledged and accepted by American Express Centurion Bank and American Express Bank, FSB, as
account owners (the “Account Owners” and, collectively with the Transferors, the “Representation Parties”), and The Bank of New York Mellon, as Trustee (the “Trustee”). 

WHEREAS the Transferors will engage the Asset Representations Reviewer to perform reviews of certain Accounts and Receivables
for compliance with the representations and warranties made by the Representation Parties with respect to the Accounts and Receivables in the American Express Credit Account Master Trust (the “Trust”). 

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I. 
 DEFINITIONS

 The following terms are defined as follows (except as otherwise agreed in writing by the parties): 

Section 1.01 Definitions. 

Whenever used in this Agreement, the following words and phrases shall have the following meanings: 

“60-Day Delinquency Percentage” shall mean, with respect to any Monthly Period, the “60-Day Delinquency
Percentage,” as reported in the Trust’s monthly Distribution Report on Form 10-D with respect to such Monthly Period. 

“Account Owners” has the meaning stated in the first paragraph hereof. 

“Adverse Effect” has the meaning set forth in Section 1.01 of the Pooling and Servicing Agreement. 

“Agreement” has the meaning stated in the first paragraph hereof. 

“Annual Fee Step-Up” has the meaning stated in Section 4.01(a). 

“Annual Fee” has the meaning stated in Section 4.01(a). 

 “Annual Period” shall mean (i) the period from and
including the Engagement Date to but excluding the first anniversary of the Engagement Date, and (ii) the period from an including each anniversary of the Engagement Date to but excluding the immediately succeeding anniversary of the Engagement
Date. 
 “Ancillary Agreement” shall mean the agreement referred to in Section 7.03. 

“Client Records” has the meaning stated in Section 3.12. 

“Confidential Information” has the meaning stated in Section 7.01(a). 

“Covered Representations” shall mean those representations and warranties identified within the
“Tests” included in Exhibit A. 
 “Covered Series” shall mean each Series issued pursuant to a
Supplement to the Pooling and Servicing Agreement with respect to which the Asset Representations Reviewer’s engagement is confirmed under Section. 

“Delinquency Threshold” shall mean, with respect to any Monthly Period, the “Delinquency
Threshold,” as reported in the Trust’s monthly Distribution Report on Form 10-D with respect to such Monthly Period. 

“Disclosing Party” has the meaning stated in Section 7.01(a). 

“Disqualification Event” has the meaning stated in Section 6.01. 

“Eligible Asset Representations Reviewer” shall mean a Person who (i) is not an Affiliate of the Account
Owners, the Transferors, the Servicer, the Trustee or any of their Affiliates and (ii) has not been engaged, and is not Affiliated with a Person that has been engaged, by the Account Owners, Transferors or any underwriter to perform pre-closing
due diligence work on the Accounts or the Receivables. 
 “Engagement Date” has the meaning stated in the
first paragraph hereof. 
 “Force Majeure Event” shall mean a failure or delay in the performance of a
party’s obligations as set forth in this Agreement that arise out of or are caused by, directly or indirectly, forces beyond a party’s control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism,
civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services. 

“Indemnified Amex Person” has the meaning stated in Section 5.04. 

“Indemnified ARR Person” has the meaning stated in Section 5.03. 

“Party” shall mean (i) on the one hand, the Asset Representations Reviewer and (ii) on the other
hand, the Transferors and the Servicer, collectively. 

  
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 “PII” and “Personally Identifiable Information”
have the respective meanings stated in Section 7.02(a). 
 “Pooling and Servicing Agreement”
shall mean the Pooling and Servicing Agreement, dated of May 16, 1996, as amended and restated as of [            ], 2015, as supplemented by the Supplement relating to each Covered
Series. 
 “Privacy Laws” has the meaning stated in Section 7.02(a). 

“Representation Parties” has the meaning stated in the first paragraph hereof. 

“Representatives” has the meaning stated in Section 7.01(a). 

“Review” shall mean the completion by the Asset Representations Reviewer of the procedures listed under
“Tests” in Exhibit A for each Review Account and Review Receivable as further described in Article III. 

“Review Accounts” shall mean those Accounts identified by the Servicer as requiring a Review by the Asset
Representations Reviewer following receipt of a Review Notice in accordance with Section 3.02. 

“Review Fee” has the meaning stated in Section 4.01(b). 

“Review Materials” shall mean the documents, data, and other information required for each “Test”
as set forth in Exhibit A. 
 “Review Notice” shall mean a notice delivered pursuant to
Section 4.15 of the Supplement relating to any Covered Series. 
 “Review Receivables” shall
mean the Receivables relating to the Review Accounts. 
 “Review Report” has the meaning stated in
Section 3.07. 
 “Tests” shall mean the procedures listed in Exhibit A as applied to the
process described in Article III. 
 “Test Complete” has the meaning stated in
Section 3.05. 
 “Test Fail” has the meaning stated in Section 3.05. 

“Test Incomplete” has the meaning stated in Section 3.04. 

“Test Pass” has the meaning stated in Section 3.05. 

“Transaction Documents” shall mean the Pooling and Servicing Agreement and each Receivables Purchase
Agreement. 
 “Transferors” has the meaning stated in the first paragraph hereof. 

  
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 “Trust” has the meaning stated in recitals hereof. 

“Trustee” has the meaning stated in the first paragraph hereof. 

Any capitalized terms used and not defined in this Agreement shall have the meanings ascribed to such terms in the
Pooling and Servicing Agreement. 
 ARTICLE II. 

ENGAGEMENT; ACCEPTANCE 

Section 2.01 Engagement; Acceptance 

The Transferors hereby engage
[                    ] to act as the Asset Representations Reviewer for the Trust. Asset Representations Reviewer accepts the engagement and agrees
to perform the obligations of the Asset Representations Reviewer on the terms stated in this Agreement. The Transferors hereby confirm such engagement with respect to all Covered Series outstanding on the date hereof. The Transferors shall confirm
such engagement with respect to each additional Covered Series pursuant to the related Supplement. 

Section 2.02 Eligibility of Asset Representations Reviewer. 

The Asset Representations Reviewer is an Eligible Asset Representations Reviewer. The Asset Representations Reviewer will
notify the Transferors and the Servicer promptly if it ceases to be an Eligible Asset Representations Reviewer or if any event shall have occurred that would, or may reasonably be expected to, result in it ceasing to be an Eligible Asset
Representations Reviewer. 
 Section 2.03 Independence of the Asset Representations Reviewer.

 The Asset Representations Reviewer will be an independent contractor and will not be subject to the supervision of the
Representation Parties, the Servicer or the Trustee for the manner in which it accomplishes the performance of its obligations under this Agreement. Unless expressly authorized by the Transferors, the Asset Representations Reviewer will have no
authority to act for or represent the Representation Parties, the Servicer or the Trustee and will not be considered an agent of the Representation Parties, the Servicer or the Trustee. Nothing in this Agreement will make the Asset Representations
Reviewer and any of the Transferors or the Servicer members of any partnership, joint venture or other separate entity or impose any liability as such on any of them. 

ARTICLE III. 
 DUTIES OF
THE ASSET REPRESENTATIONS REVIEWER 
 Section 3.01 Review Scope. 

The review conducted by the Asset Representations Reviewer pursuant to this Agreement is designed to determine whether certain
Accounts and Receivables were not in compliance with the Covered Representations made with respect thereto by the Representation Parties in the 

  
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Transaction Documents. 
 The Review is not designed to determine any
of the following: 
 (a) Reason for delinquency; 

(b) Creditworthiness of the obligor, either at the time of the Review or as of the Account or Receivable creation date; 

(c) Overall quality of any Review Account or Review Receivable; 

(d) Whether the applicable Servicer has serviced any Account and/or Receivable in compliance with the Pooling and Servicing
Agreement; 
 (e) Whether noncompliance with the representations or warranties constitutes a breach of the provisions of any
of the Transaction Documents; 
 (f) Whether the Accounts or Receivables were in compliance with the representations and
warranties set forth in the Transaction Documents, except as expressly described in this Agreement; or 
 (g) To establish
cause, materiality or recourse in the case of any failed Test as described in Section 3.05. 
 The Parties
acknowledge that certain representations and warranties made by the Representation Parties in the Transaction Documents contain materiality thresholds, for example, where a breach of the representation or warranty is conditioned upon the failure to
comply having an Adverse Effect. The Asset Representations Reviewer will not make any determination as to materiality, including any determination as to whether any deviation from or noncompliance with the requirements of a particular representation
or warranty has or may have an Adverse Effect. Any such determination will be made by the applicable Representation Party. 

Section 3.02 Review Notices. 

Upon receipt of a Review Notice from the Servicer, the Asset Representations Reviewer will commence a Review. The Asset
Representations Reviewer will not be obligated to commence a Review until a Review Notice is received. Once the Review Notice is issued, the Servicer will provide the Asset Representations Reviewer access to a list of Review Accounts within [30]
days or as soon thereafter as reasonably possible in the event of a Force Majeure Event. 
 The Asset Representations
Reviewer is not obligated to verify (i) whether a Review Notice was required to be delivered under the Pooling and Servicing Agreement or (ii) the accuracy or completeness of the list of Review Accounts provided by the Servicer. 

Section 3.03 Review Materials. 

Within [60] days of the delivery of a Review Notice, or as soon thereafter as reasonably

  
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possible in the event of a Force Majeure Event, the Servicer will provide the Asset Representations Reviewer with access to the Review Materials for all Review Accounts and the Review
Receivables; provided, however, that if the Servicer requires additional time to provide one or more documents constituting Review Materials, the Servicer will provide the documentation that it has available within such [60]-day period
and will continue to gather the balance of the Review Materials. 
 All Review Materials will be provided for onsite review
at the Servicer’s offices in New York City at the address specified in Section 9.02. The Asset Representations Reviewer agrees to keep all materials reviewed confidential and will not copy or remove any documentation from the
Servicer’s premises without prior written approval. The Servicer may redact or remove Personally Identifiable Information from the Review Materials in a manner that does not change the meaning or usefulness of the Review Materials. The Asset
Representations Reviewer shall be entitled to rely in good faith, without independent investigation or verification, that the Review Materials are accurate and complete in all material respects, and not misleading in any material respect. 

Section 3.04 Missing or Incomplete Review Materials. 

Upon receipt of access to the Review Materials, the Asset Representations Reviewer will complete an initial document inventory
to verify there are no systemic documentation errors, including but not limited to consistently missing or incomplete Review Materials. The purpose of this review is to determine if there are systemic issues with documentation. 

If the Asset Representations Reviewer determines that any Review Materials are not accessible, clearly unidentifiable, and/or
illegible, the Asset Representations Reviewer will request in writing that the Servicer provide an updated or replacement copy of such Review Materials. The Servicer will use all reasonable efforts to provide, or cause to be provided, missing or
incomplete Review Materials to the Asset Representations Reviewer or other documents or information to correct the issue of incompleteness or missing information as promptly as practicable and within [30] days of the receipt of such a request by the
Asset Representations Reviewer; provided that the Servicer shall have an additional [30] days to correct any such issues if it notifies the Asset Representations Reviewer in writing that it is working diligently and it believes that
satisfactory materials will be available for review by the Asset Representations Reviewer within an additional [30] days. 

In the event any missing or incomplete Review Materials are not provided or corrected within this timeframe, the Asset
Representations Reviewer will perform the associated Tests in consideration that such Review Materials are missing or incomplete. With respect to any such missing or incomplete Review Materials, if the Asset Representations Reviewer determines in
good faith, with prior written notice to the Servicer and the Transferors, that it cannot complete a Test due to such missing information or the incompleteness of such information, the Asset Representations Reviewer will record the result of such
Test as incomplete (a “Test Incomplete”). 

  
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 Section 3.05 The Asset Representations Review. 

Once the Asset Representations Reviewer has confirmed the [majority of the] Review Materials are available, the Asset
Representations Reviewer will commence the Review. For a Review, the Asset Representations Reviewer will perform the applicable procedures listed under “Tests” in Exhibit A for each Covered Representation using the Review Materials
identified in Exhibit A for each Test. The Asset Representations Reviewer will complete the Tests for each Covered Representation only using the Review Materials made available to it. For each Test, the Asset Representations Reviewer will determine
if the Test has been satisfied (a “Test Pass”), if the Test has not been satisfied (a “Test Fail”) or if the result of the Test should be recorded as “Test Incomplete” in accordance with
Section 3.04. 
 If a Test with respect to a Review Account or Review Receivable was conducted in connection
with a prior Review, the Asset Representations Reviewer will not repeat the Test on such Review Account or Review Receivable to the extent such Test would be duplicative of the Test conducted in connection with such prior Review. The Asset
Representations Reviewer will include the previously reported Test results for any such duplicate Test within the Review Report for the current Review. 

Following the delivery of the list of Review Accounts pursuant to Section 3.02, and before the delivery of the
Review Report by the Asset Representations Reviewer, the Servicer may notify the Asset Representations Reviewer if a Review Receivable is paid in full by the Obligor or reassigned to a Transferor in accordance with the Pooling and Servicing
Agreement. On receipt of such notice, the Asset Representations Reviewer will immediately terminate all Tests of such Review Receivable and related Review Account, and the review of such Review Receivable and related Review Account will be
considered complete (a “Test Complete”). 
 Section 3.06 Review Period. 

The Asset Representations Reviewer will use its best efforts to complete the Review within [60] days of receiving
access to all Review Materials made available under Sections 3.03 and 3.04. If additional Review Materials are provided to the Asset Representations Reviewer under Section 3.04, the review period will be extended for an
additional [30] days from the latest date on which such additional Review Materials are provided. 

Section 3.07 Review Reports. 

Within [five (5)] Business Days following the completion of the Review, the Asset Representations Reviewer will provide the
Servicer with a report identifying any Test that resulted in a “Test Fail” or “Test Incomplete.” Following the delivery of such report, the Servicer will have [fifteen (15)] Business Days to provide additional Review Materials or
any other relevant information to the Asset Representations Reviewer, and the Asset Representations Reviewer will consider any applicable Test results in light of such additional Review Materials or information. 

Within [30] days (or [45] days if additional Review Materials are provided in accordance with the immediately preceding
paragraph) following the end of the applicable review period described in Section 3.06, the Asset Representations Reviewer will provide the Transferors, the 

  
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Servicer and the Trustee with a report providing each Test result (i.e., Test Pass, Test Fail or Test Incomplete) for each Review Account and Review Receivable (such report, a “Review
Report”). The Review Report will contain a summary of the Review results which may be included (in whole or in part) in the Trust’s monthly Distribution Report on Form 10-D for the applicable Monthly Period. The Asset Representations
Reviewer will ensure that the Review Report does not contain any Personally Identifiable Information. 

Section 3.08 Review and Procedure Limitations. 

The Asset Representations Reviewer will have no obligation (i) to determine whether a breach of the terms of any
representation or warranty has occurred, (ii) to determine whether any applicable triggering events for a Review occurred, (iii) to determine which Accounts and/or Receivables are subject to a Review, (iv) to obtain or confirm the
validity of the Review Materials, (v) to obtain missing or incomplete Review Materials, or (vi) to take any action or cause any other party to take any action under any of the Transaction Documents to enforce any remedies for breaches of
any representations or warranties, including the Covered Representations. 
 The Asset Representations Reviewer will only be
required to perform the Tests provided in Exhibit A in consideration of the Review Materials and will have no obligation to perform additional testing procedures on any Review Accounts or Review Receivables or to consider any additional information
provided by any party. The Asset Representations Reviewer will have no obligation to provide reporting or information in addition to that described in Section 3.07. However, the Asset Representations Reviewer may perform additional
testing procedures and may review and report on additional information that it determines in good faith to be material to its performance under this Agreement. 

The Transferors expressly agree that the Asset Representations Reviewer is not advising the Transferors or any Affiliate of
the Transferors or any Certificateholder or any investor or future investor concerning the suitability of the Certificates or any investment strategy. The Transferors expressly acknowledge and agree that the Asset Representations Reviewer is not an
expert in accounting, tax, regulatory, or legal matters, and that the Asset Representations Reviewer does not provide legal advice as to any matter. 

Section 3.09 Review Systems. 

The Asset Representations Reviewer will maintain and utilize an electronic case management system to manage the Tests and
provide systematic control over each step in the Review process and ensure consistency and repeatability among the Tests. 

Section 3.10 Representatives. 

(a) Servicer Representative. The Servicer will provide reasonable access to one or more designated representatives to
respond to reasonable requests and inquiries made by the Asset Representations Reviewer in its completion of a Review. 

(b) Asset Representations Review Representative. The Asset Representations Reviewer will provide reasonable access to
one or more designated representatives to respond to 

  
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reasonable requests and inquiries made by the Servicer, the Transferors, or the Trustee during the Asset Representations Reviewer’s performance of a Review. 

(c) Inquiries Regarding a Review. The Asset Representations Reviewer will make appropriate personnel available to
respond in writing to written questions or requests for clarification of any Review Report from the Servicer, the Transferors or the Trustee until the earlier of (i) the payment in full of all Covered Series and (ii) one year after the
delivery of such Review Report. The Asset Representations Reviewer will have no obligation to respond to requests or inquires made by any other Person. 

Section 3.11 Dispute Resolution. 

If an Account or Receivable that was reviewed by the Asset Representations Reviewer is the subject of a dispute resolution
proceeding under the Pooling and Servicing Agreement, the Asset Representations Reviewer will participate in the dispute resolution proceeding on request of the Servicer. The reasonable out-of-pocket expenses of the Asset Representations Reviewer
for its participation in any dispute resolution proceeding will be considered expenses of the requesting party for the dispute resolution and will be paid by a party to the dispute resolution as determined by the mediator or arbitrator for the
dispute resolution in accordance with the Pooling and Servicing Agreement. If not paid by a party to the dispute resolution, the expenses will be reimbursed by the Transferors, or the Account Owners on behalf of the Transferors, in accordance with
Section 4.02. 
 Section 3.12 Records Retention. 

Unless otherwise directed by the Servicer, in connection with any Review, the Asset Representations Reviewer will maintain
copies of the Review Materials (to the extent any Review Materials are copied or removed), the Review Report and any internal work papers and correspondence (collectively the “Client Records”) until the earlier of (i) the
payment in full of all Covered Series and (ii) one (1) year after the delivery of such Review Report. At the expiration of the retention period, the Asset Representations Reviewer shall return all Client Records to
[            ], in electronic format, or as otherwise instructed by the Servicer. Upon the return of the Client Records, the Asset Representations Reviewer shall destroy any remaining
copies of such Client Records and shall have no obligation to respond to inquiries concerning the Review. 
 ARTICLE IV. 

PAYMENTS TO ASSET REPRESENTATIONS REVIEWER 

Section 4.01 Asset Representations Reviewer Fees. 

(a) Annual Fee. 

As compensation for its activities hereunder, the Asset Representations Reviewer shall be entitled to receive an annual fee
with respect to each Annual Period equal to $[        ] (the “Annual Fee”), payable on or before the first Business Day of such Annual Period, until the termination of this Agreement. 

  
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 If, with respect to any Monthly Period, the 60-Day Delinquency Percentage exceeds
the product of the [    ]% and Delinquency Threshold, the Asset Representations Reviewer shall be entitled to receive an additional fee equal to $[        ] the (“Annual Fee
Step-Up”), payable no later than 30 days following the last day of such Monthly Period; provided, however, that the Asset Representations Reviewer shall be entitled to the Annual Fee Step-Up no more than once during any Annual
Period. 
 (b) Review Fee. 

Following the completion of a Review and delivery of the Review Report, the Asset Representations Reviewer shall be entitled
to a review fee of [$[        ] per hour][insert any other fee methodology agreed upon by the asset representations reviewer and the transferors][, subject to a cap of
$[        ] per review] (the “Review Fee”), payable no later than 30 days following the submission to the Servicer and the Transferors of a detailed invoice. 

(c) Payment. 

All payments required to be made to the Asset Representations Reviewer shall be made by the Transferors, or by the Account
Owners at the direction of the Transferors, to the following wire account or to such other account as may be specified by the Asset Representations Reviewer from time to time: 

[    ] 

ABA#: [    ] 

Account Name: [    ] 

Account No.: [    ] 

Beneficiary: [    ] 

REF: [    ] 

Section 4.02 Reimbursable Expenses. 

The Transferors, or the Account Owners at the direction of the Transferors, will reimburse the Asset Representations Reviewer
for its reasonable travel expenses incurred in connection with a Review no later than 30 days following the submission to the Servicer and the Transferors of a detailed invoice. 

ARTICLE V. 
 OTHER
MATTERS PERTAINING TO THE ASSET REPRESENTATIONS REVIEWER 
 Section 5.01 Representations and
Warranties of the Asset Representations Reviewer. 
 The Asset Representations Reviewer hereby makes the following
representations and warranties as of the Engagement Date: 
 (a) Organization and Good Standing. The Asset
Representations Reviewer is a [            ] duly formed and validly existing in good standing under the laws of the State of
[            ], with the power and authority to own its properties and to conduct its business as such 

  
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properties are currently owned and such business is presently conducted, and has the power, authority and legal right to perform its obligations under this Agreement. 

(b) Due Qualification. The Asset Representations Reviewer is duly qualified to do business and is in good standing as a
foreign corporation or other foreign entity (or is exempt from such requirements) and has obtained all necessary licenses and approvals in each jurisdiction in which the ownership or lease of its properties, if any, or the conduct of its activities,
including the execution, delivery and performance of this agreement, requires such qualification, license or approval except where the failure to so qualify or obtain licenses or approvals would not have a material adverse effect on its ability to
perform its obligations as Asset Representations Reviewer under this Agreement. 
 (c) Due Authorization. The
execution, delivery, and performance by the Asset Representations Reviewer of this Agreement, and the other agreements and instruments executed or to be executed by the Asset Representations Reviewer as contemplated hereby, have been duly authorized
by the Asset Representations Reviewer by all necessary action on the part of the Asset Representations Reviewer. 
 (d)
Binding Obligation. This Agreement constitutes a legal, valid and binding obligation of the Asset Representations Reviewer, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally from time to time in effect or by general principles of equity. 

(e) No Conflict and No Violation. The execution and delivery of this Agreement by the Asset Representations Reviewer,
the performance by the Asset Representations Reviewer of the transactions contemplated by this Agreement and the fulfillment by the Asset Representations Reviewer of the terms hereof and thereof applicable to the Asset Representations Reviewer will
not (A) conflict with, or be a breach or default under, any indenture, guarantee or other agreement or instrument to which the Asset Representations Reviewer is a party, (B) violate the organizational documents of the Asset Representations
Reviewer or (C) conflict with or violate any Requirements of Law applicable to the Asset Representations Reviewer. 

(f) No Proceedings. There are no proceedings or investigations pending or, to the best knowledge of the Asset
Representations Reviewer, threatened against the Asset Representations Reviewer before any Governmental Authority seeking to prevent the consummation of any of the transactions contemplated by this Agreement or seeking any determination or ruling
that, in the reasonable judgment of the Asset Representations Reviewer, would materially and adversely affect the performance by the Asset Representations Reviewer of its obligations under this Agreement. 

(g) Eligible Asset Representations Reviewer. The Asset Representations Reviewer is an Eligible Asset Representations
Reviewer. 

  
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 Section 5.02 Limitation of Liability. 

Neither the Asset Representations Reviewer nor any of the directors, officers, employees or agents of the Asset
Representations Reviewer in its capacity as Asset Representations Reviewer shall be under any liability to any Person for any action taken or for refraining from the taking of any action in good faith in its capacity as Asset Representations
Reviewer pursuant to this Agreement, or for errors in judgment, whether arising from express or implied duties under this Agreement; provided, however, that this provision shall not protect the Asset Representations Reviewer or any such
Person against any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or negligence in the performance of its duties or by reason of reckless disregard of obligations and duties hereunder. The Asset
Representations Reviewer and any director, officer, employee or agent of the Asset Representations Reviewer may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person (other than the Asset
Representations Reviewer) respecting any matters arising hereunder. In no event will the Asset Representations Reviewer be liable for special, indirect or consequential loss or damage (including loss of profit) even if the Asset Representations
Reviewer has been advised of the likelihood of the loss or damage and regardless of the form of action. 

Section 5.03 Indemnification of Asset Representations Reviewer. 

To the fullest extent permitted by law, the Transferors will, or will cause the Account Owners to, indemnify and hold harmless
the Asset Representations Reviewer and its officers, directors, employees and agents (each, an “Indemnified ARR Person”), from and against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions,
investigations, proceedings, costs, expenses or disbursements (including reasonable legal fees and expenses) (“Indemnifiable Amounts”) of any kind and nature whatsoever which may be imposed on, incurred by, or asserted at any time
against an Indemnified ARR Person (whether or not also indemnified against by any other person) resulting from the performance of its obligations under this Agreement, but excluding any Indemnifiable Amounts resulting from (i) the Indemnified
ARR Person’s willful misconduct, bad faith or negligence or (ii) the Indemnified ARR Person’s breach of any of its representations or warranties in this Agreement. 

Section 5.04 Indemnification by Asset Representations Reviewer. 

To the fullest extent permitted by law, the Asset Representations Reviewer shall indemnify and hold harmless the Transferors,
the Account Owners, the Servicer and the Trustee, and each of their officers, directors, employees, and agents (each an “Indemnified Amex Person”), from and against any and all Indemnifiable Amounts of any kind and nature whatsoever
which may be imposed on, incurred by, or asserted at any time against an Indemnified Amex Person (whether or not also indemnified against by any other person) which arose out of the negligence, willful misconduct or bad faith of the Asset
Representations Reviewer in the performance of its obligations and duties under this Agreement or the Asset Representations Reviewer’s material breach of any of its representations or warranties or obligations in this Agreement; provided,
however, that the Asset Representations Reviewer shall not be liable for or required to indemnify an Indemnified Amex Person from and against any Indemnifiable Amounts arising or resulting from (i) the Indemnified Amex Person’s own willful

  
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misconduct, bad faith or negligence, or (ii) the inaccuracy of any representation or warranty made by the Indemnified Amex Person. 

ARTICLE VI. 
 REMOVAL,
RESIGNATION 
 Section 6.01 Removal of Asset Representations Reviewer. 

Each of the following events shall constitute a “Disqualification Event”: 

(a) the Asset Representations Reviewer (i) no longer meets the eligibility requirements in Section 2.02 or
(ii) will no longer meet the eligibility requirements in Section 2.02 upon the occurrence of an event that is reasonably likely to occur; 

(b) any breach or failure by the Asset Representations Reviewer in any material respect of its representations, warranties,
covenants or agreements set forth in this Agreement or in the Ancillary Agreement; 
 (c) an Insolvency Event occurs with
respect to the Asset Representations Reviewer; and 
 (d) the Asset Representations Reviewer becomes a competitor of, or an
Affiliate of a competitor of, the Transferors, the Servicer, the Account Owners or any of their Affiliates. 
 Upon the occurrence of a
Disqualification Event set forth in clause (a) above, the Transferors shall, and upon the occurrence of a Disqualification Event set forth in clause (b), (c) or (d) above, the Transferors may but shall not be required to, remove the
Asset Representations Reviewer and promptly appoint a successor Asset Representations Reviewer by written instrument, in duplicate, one copy of which instrument shall be delivered to the Asset Representations Reviewer so removed and one copy to the
successor Asset Representations Reviewer. Any removal of the Asset Representations Reviewer shall not take effect until a successor Asset Representations Reviewer is assigned in accordance with Section 6.02. 

Section 6.02 Appointment of Successor. 

Upon any removal of the Asset Representations Reviewer in accordance with Section 6.01 or any permitted
resignation of the Asset Representations Reviewer in accordance with Section 6.04, the Transferors shall appoint a successor Asset Representations Reviewer by an instrument signed by the Transferors, the Servicer and such successor Asset
Representations Reviewer, and acknowledged by the Account Owners and the Trustee. 
 If a successor Asset Representations
Reviewer has not been appointed within 30 days after the written notice of the Asset Representations Reviewer’s resignation or the delivery of the written instrument with respect to its removal, the Asset Representations Reviewer or the Trustee
may apply to any court of competent jurisdiction to appoint a successor Asset Representations Reviewer to act until such time, if any, as a successor Asset Representations Reviewer has been appointed as above provided. 

  
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 If the Asset Representations Review resigns or is removed, the Asset
Representations Reviewer will cooperate with the Transferors and the Servicer and take all actions reasonably requested to assist the Transferors and the Servicer in making an orderly transition of the Asset Representations Reviewer’s rights
and obligations under this Agreement to the successor Asset Representations Reviewer. The Asset Representations Reviewer will pay the reasonable expenses of transitioning the Asset Representations Reviewer’s obligations under this Agreement and
preparing the successor Asset Representations Reviewer to take on the obligations on receipt of an invoice with reasonable detail of the expenses from the Transferors, the Servicer or the successor Asset Representations Reviewer. 

Section 6.03 Merger or Consolidation of, or Assumption of the Obligations of, Asset the Representations
Reviewer. 
 Any Person (a) into which the Asset Representations Reviewer is merged or consolidated,
(b) resulting from any merger or consolidation to which the Asset Representations Reviewer is a party or (c) succeeding to the business of the Asset Representations Reviewer, if that Person meets the eligibility requirements in
Section 2.02, will be the successor to the Asset Representations Reviewer under this Agreement. 
 If the Asset
Representations Reviewer is not the surviving entity, such successor shall expressly assume, by an agreement supplemental hereto, executed and delivered to the Transferors, the Servicer, and the Trustee in a form satisfactory to the Transferors, the
Servicer, and the Trustee, the performance of every covenant and obligation of the Asset Representations Reviewer, as applicable hereunder (to the extent that any right, covenant or obligation of the Asset Representations Reviewer, as applicable
hereunder, is inapplicable to the successor entity, such successor entity shall be subject to such covenant or obligation, or benefit from such right, as would apply, to the extent practicable, to such successor entity); and, upon the request of the
Transferors, the Servicer, and/or the Trustee, the Asset Representations Reviewer shall have delivered to the Transferors, the Servicer, and the Trustee an officer’s certificate of the Asset Representations Reviewer to the effect that such
consolidation, merger, conveyance or transfer and such supplemental agreement comply with this Section 6.03, that the successor Asset Representations Reviewer meets the eligibility requirements in Section 2.02, and that all
conditions precedent herein provided for relating to such transaction have been complied with and an Opinion of Counsel that such supplemental agreement is legal, valid and binding with respect to the Asset Representations Reviewer. 

Section 6.04 Asset Representations Reviewer Not to Resign. 

The Asset Representations Reviewer shall not resign from the obligations and duties hereby imposed on it hereunder except:

 (a) upon the determination that (i) the performance of its duties hereunder is no longer permissible under
applicable law and (ii) there is no reasonable action which the Asset Representations Reviewer could take to make the performance of its duties hereunder permissible under applicable law; or 

(b) on or after the fifth anniversary of the Engagement Date, upon one (1) year’s

  
 14 

 
written notice from the Asset Representations Reviewer to the Transferors, the Servicer and the Trustee. 

Any determination permitting the resignation of the Asset Representations Reviewer pursuant to clause (a) above shall be
evidenced as to clause (i) above by an opinion of counsel to the Asset Representations Reviewer and as to clause (ii) by an officer’s certificate of the Asset Representations Reviewer, each to such effect delivered to the Transferors,
the Servicer, and the Trustee. 
 No such resignation pursuant to this Section 6.04 shall become effective until
a successor Asset Representations Reviewer shall have assumed the responsibilities and obligations of the Asset Representations Reviewer in accordance with Section 6.02 hereof. 

Section 6.05 Notice of Resignation or Removal. 

Upon any resignation or removal of, or appointment of a successor to, the Asset Representations Reviewer pursuant to this
Article VI, the Transferors shall give prompt written notice thereof to the Trustee, the Servicer and the Rating Agencies then rating the Certificates (which, in the case of any such appointment of a successor, shall consist of prior written
notice thereof to the Rating Agencies then rating the Certificates). 
 ARTICLE VII. 

CONFIDENTIAL INFORMATION AND PERSONALLY IDENTIFIABLE INFORMATION 

Section 7.01 Confidential Information. 

(a) Confidential Information Defined. For the purposes of this Agreement, “Confidential Information”
means nonpublic proprietary information of the Representation Parties, the Servicer or their Affiliates (collectively, the “Disclosing Party”) that is disclosed to the Asset Representations Reviewer, including but not limited to
business or technical processes, formulae, source codes, object code, product designs, sales, cost and other unpublished financial information, customer information, product and business plans, projections, marketing data or strategies, trade
secrets, intellectual property rights, know-how, expertise, methods and procedures for operation, information about employees, customer names, business or technical proposals, and any other information which is or should reasonably be understood to
be confidential or proprietary to the Disclosing Party. The foregoing definition of Confidential Information applies to: (i) all such information, whether tangible or intangible and regardless of the medium in which it is stored or presented;
and (ii) all copies of such information, as well as all memoranda, notes, summaries, analyses, computer records, and other materials prepared by the Disclosing Party or any of its employees, agents, advisors, directors, officers, and
subcontractors (collectively “Representatives”) that contain or reflect the Confidential Information. 

(b) Use of Confidential Information. The Asset Representations Reviewer acknowledges that, during the term of this
Agreement, it may be exposed to or acquire Confidential Information of the Disclosing Party or its Affiliates. The Asset Representations 

  
 15 

 
Reviewer shall hold the Confidential Information of the Disclosing Party in strict confidence and will not disclose such information except to its Representatives who have a need to know such
information for the purpose of effecting the terms and conditions of this Agreement and who have entered into an agreement with the Asset Representations Reviewer with confidentiality restrictions materially equivalent to those contained herein. The
Asset Representations Reviewer shall be responsible for the breach of this Agreement by any of its Representatives. The Asset Representations Reviewer will protect the Disclosing Party’s Confidential Information using the same degree of care
that it uses to protect its own information of like import, but in no event with less than a commercially reasonable standard of care. 

(c) Exceptions. Confidential Information shall not include, and this Agreement imposes no obligations with respect to,
information that: 
  

	 	 (i)
	 is or becomes part of the public domain other than by disclosure by the Asset Representations Reviewer or any of its Representatives in violation
of this Agreement; 

  

	 	 (ii)
	 was disclosed to the Asset Representations Reviewer prior to the effective date of this Agreement without a duty of confidentiality;

  

	 	 (iii)
	 was obtained from a third party not known after reasonable inquiry to be under a duty of confidentiality. 

Section 7.02 Personally Identifiable Information. 

(a) Definition. “Personally Identifiable Information,” or “PII,” means
(i) individually identifiable information from or about an identified or identifiable individual, or any information that is combined with such individually identifiable information, including information that can be used to authenticate that
individual or access an account, or (ii) information protected as personal data under any applicable laws, regulations, rules and guidance pertaining to privacy, data processing, data protection, data security, encryption, and confidentiality

 (b) Use of Personally Identifiable Information. To the extent the Asset Representations Reviewer receives
Personally Identifiable Information in the performance its obligations hereunder, the Asset Representations Reviewer agrees that it will not use any Personally Identifiable Information except to the extent necessary to carry out its obligations
under the Agreement and for no other purpose. The Asset Representations Reviewer will not disclose, or provide access to, any Personally Identifiable Information to any Person other than (i) to the Asset Representations Reviewer personnel who
require such Personally Identifiable Information to perform a Review, (ii) with the prior consent of the Representation Parties or the Servicer or (iii) as required by applicable law. When permitted, the disclosure of or access to
Personally Identifiable Information will be limited to the specific information necessary for the individual to complete the assigned task. 

Section 7.03 Maintenance and Safeguarding. 

In order to safeguard Confidential Information of a Disclosing Party and to assure that the Asset Representations Reviewer
complies with certain data security provisions and anti-

  
 16 

 
corruption standards, the Servicer has entered into an Ancillary ARR Agreement with the Asset Representations Reviewer which covers information protection contract requirements as well as certain
anti-corruption standards. To the extent the Asset Representations Reviewer receives Confidential Information or Personally Identifiable Information in the performance of services under this Agreement, the Asset Representations Reviewer’s
receipt and maintenance of such information shall be subject to the provisions of the Ancillary Agreement. Upon the request of the Disclosing Party, the Asset Representations Reviewer shall return all Confidential Information or Personally
Identifiable Information to the Disclosing Party provided to it pursuant to this Agreement. 

Section 7.04 Disclosure by Operation of Law. 

If the Asset Representations Reviewer is requested to disclose all or any part of any Confidential Information or PII under a
subpoena, or inquiry issued by a court of competent jurisdiction or by a judicial or administrative agency or legislative body or committee, the Asset Representations Reviewer shall (i) to the extent permitted by law, promptly notify the
Representation Parties and the Servicer of the existence, terms and circumstances surrounding such request; (ii) consult with the Representation Parties and the Servicer on the advisability of taking legally available steps to resist or narrow
such request and cooperate with the Representation Parties and the Servicer on all steps they consider advisable; and (iii) if disclosure of the Confidential Information or PII, as applicable, is required or deemed advisable by the
Representation Parties, exercise commercially reasonable efforts to obtain an order, stipulation or other reliable assurance that confidential treatment shall be accorded to such portion of the Confidential Information or PII, as applicable, to be
disclosed. The Transferors shall reimburse, or shall cause the Servicer to reimburse, the Asset Representations Reviewer for reasonable legal fees and expenses incurred in connection with the Asset Representations Reviewer’s effort to comply
with this section. 
 Section 7.05 Remedies. 

The Parties agree that an actual or threatened breach of this Article VII by the Asset Representations Reviewer or its
Representatives may cause irreparable damage to the Disclosing Party and that damages may not be an adequate remedy for any such breach. Accordingly, the Disclosing Party shall be entitled to seek injunctive relief to restrain any such breach,
threatened or actual, without the necessity of posting bond, in addition to any other remedies available to the Disclosing Party at law or in equity. 

ARTICLE VIII. 
 OTHER
MATTERS PERTAINING TO THE TRUST 
 Section 8.01 Termination of the Trust. 

This Agreement will terminate on the earlier of (i) the mutual agreement of the Parties, (ii) the payment in full of
all Covered Series and (iii) the termination of the Trust pursuant to Section 12.01 of the Pooling and Servicing Agreement. 

  
 17 

 ARTICLE IX. 

MISCELLANEOUS PROVISIONS 

Section 9.01 Amendment. 

This Agreement may not be changed orally, but only by an instrument in writing signed by the Asset Representations Reviewer,
the Transferors and the Servicer in accordance with this Section 9.01; provided, however, that no amendment shall be effective unless the Transferors shall have provided prior notice of the substance of such amendment to the Trustee and
each Rating Agency. The Transferors, the Asset Representations Reviewer and the Servicer may, from time to time, review and modify the Tests and Review Materials described on Exhibit A. Any such modification shall be effected under this
Section 9.01. 
 Section 9.02 Notices. 

All notices hereunder shall be given by United States certified or registered mail, by facsimile or by other telecommunication
device capable of creating written record of such notice and its receipt. Notices hereunder shall be effective when received and shall be addressed to the respective parties hereto at the addresses set forth below, or at such other address as shall
be designated by any party hereto in a written notice to each other party pursuant to this section. 
 If to the Asset
Representations Reviewer, to: 
  

					
		 	  
	  	
		 	  
	  	

 With a copy to: 

 

					
		 	  
	  	
		 	  
	  	

 If to the Transferors, to: 

American Express Receivables Financing Corporation III LLC 

4315 South 2700 West, Room 3020-3 

Mail Stop 02-01-03 

Salt Lake City, Utah 84184 

E-mail: [    ] 

American Express Receivables Financing Corporation IV LLC 

4315 South 2700 West, Room 1100 

Mail Stop 02-01-46 

Salt Lake City, Utah 84184 

E-mail: [    ] 

  
 18 

 If to the Servicer, to: 

American Express Travel Related Services Company, Inc. 

200 Vesey Street 

New York, New York 10285 

E-mail: 

If to the [Trustee], to: 
  

					
		 	  
	  	
		 	  
	  	

 Section 9.03 Severability Clause. 

Subject to Section 7.03, this Agreement constitutes the entire agreement among the Asset Representations Reviewer,
the Transferors and the Servicer. All prior representations, statements, negotiations and undertakings with regard to the subject matter hereof are superseded hereby. 

If any term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be
invalid or unenforceable, the remaining terms and provisions of this Agreement, or the application of such terms or provisions to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected
thereby, and each term and provision of this Agreement shall be valid and enforced to the fullest extent permitted by law. 

Section 9.04 Counterparts. 

This Agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an
original, and all such counterparts shall constitute one and the same instrument. 
 Section 9.05
Governing Law. 
 THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 9.06 Relationship of the Parties. 

The Asset Representations Reviewer is an independent contractor and, except for the services which it agrees to perform
hereunder, the Asset Representations Reviewer does not hold itself out as an agent of any other party hereto. Nothing herein contained shall create or imply an agency relationship among Asset Representations Reviewer and any other party hereto, nor
shall this Agreement be deemed to constitute a joint venture or partnership between the parties. 

  
 19 

 Section 9.07 Captions. 

The captions used herein are for the convenience of reference only and not part of this Agreement, and shall in no way be
deemed to define, limit, describe or modify the meanings of any provision of this Agreement. 

Section 9.08 Waivers. 

No term or provision of this Agreement may be waived or modified unless such waiver or modification is in writing, signed by
the party against whom such waiver or modification is sought to be enforced. 
 Section 9.09
Assignment. 
 This Agreement may not be assigned by the Asset Representations Reviewer except as permitted under
Section 6.03 hereof. 
 Section 9.10 Benefit of the Agreement.  

This Agreement is for the benefit of and will be binding on the parties to this Agreement and their permitted successors and
assigns. No other Person will have any right or obligation under this Agreement. 
 Section 9.11
Exhibits. 
 The exhibits to this Agreement are hereby incorporated and made a part hereof and are an integral part
of this Agreement. 
 Section 9.12 Survival. 

The following sections of this Agreement shall survive the termination of this Agreement: Sections 3.08, 3.11,
3.12, 5.02, 5.03, 5.04, and Articles VII and IX. 

  
 20 

 IN WITNESS WHEREOF, the Transferors, the Servicer and the Asset Representations
Reviewer have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the date first above written. 
  

			
	 AMERICAN EXPRESS RECEIVABLES

FINANCING CORPORATION III LLC

	 as Transferor

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 AMERICAN EXPRESS RECEIVABLES

FINANCING CORPORATION IV LLC

	 as Transferor

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.,

	 as Servicer

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 [    ],

	 as Asset Representations Reviewer

		
	 By:
	 	  

		 	 Name:

		 	 Title:

			
	 Acknowledged by:

	
	 AMERICAN EXPRESS CENTURION BANK,

	 as Account Owner

		
	 By
	 	  

		 	 Name:

		 	 Title:

	
	 AMERICAN EXPRESS BANK, FSB,

	 as Account Owner

		
	 By
	 	  

		 	 Name:

		 	 Title:

	
	 THE BANK OF NEW YORK MELLON,

	 as Trustee

		
	 By
	 	  

		 	 Name:

		 	 Title:

 EXHIBIT A 

Covered Representations, Review Materials and Tests 
  

							
	 Covered Representation(s)
	  	 Summary of Representation(s)
	  	 Review Materials
	  	 Tests

		  		  		  	
		  		  		  	
		  		  		  	

  
 A-1

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