Document:

Exhibit 10.7

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      

    

    

    
      

      

    

    FORM OF SERIES [_]-[_] ACCOUNT CONTROL AGREEMENT

    among

    VERIZON MASTER TRUST,

      as Grantor

    [_],

      as Secured Party

    and

    [_],

      as Financial Institution

    

    

    Dated as of [_], 20[_]

    
      

      

    

    
      

    

    

    

    

    

    

    

    

    
      
        

    

    TABLE OF CONTENTS

    

    

    Page

    	
            ARTICLE I

          	
            USAGE AND DEFINITIONS

          	
            1

          
	
            Section 1.1

          	
            Usage and Definitions

          	
            1

          
	
            ARTICLE II

          	
            ESTABLISHMENT OF COLLATERAL ACCOUNTS

          	
            1

          
	
            Section 2.1

          	
            Description of Accounts

          	
            1

          
	
            Section 2.2

          	
            Account Changes

          	
            2

          
	
            Section 2.3

          	
            Account Types

          	
            2

          
	
            Section 2.4

          	
            Securities Accounts

          	
            2

          
	
            Section 2.5

          	
            “Financial Assets” Election

          	
            3

          
	
            ARTICLE III

          	
            SECURED PARTY CONTROL

          	
            3

          
	
            Section 3.1

          	
            Control of Collateral Accounts

          	
            3

          
	
            Section 3.2

          	
            Investment Instructions

          	
            3

          
	
            Section 3.3

          	
            Conflicting Orders or Instructions

          	
            4

          
	
            ARTICLE IV

          	
            SUBORDINATION OF LIEN; WAIVER OF SET-OFF

          	
            4

          
	
            Section 4.1

          	
            Subordination of Lien; Waiver of Set-Off

          	
            4

          
	
            ARTICLE V

          	
            REPRESENTATIONS, WARRANTIES AND COVENANTS

          	
            4

          
	
            Section 5.1

          	
            Financial Institution’s Representations and Warranties

          	
            4

          
	
            Section 5.2

          	
            Financial Institution’s Covenants

          	
            5

          
	
            ARTICLE VI

          	
            OTHER AGREEMENTS

          	
            5

          
	
            Section 6.1

          	
            Reliance by Financial Institution

          	
            5

          
	
            Section 6.2

          	
            Termination

          	
            6

          
	
            Section 6.3

          	
            No Petition

          	
            6

          
	
            Section 6.4

          	
            Limitation of Liability

          	
            6

          
	
            Section 6.5

          	
            Conflict With Other Agreement

          	
            7

          
	
            Section 6.6

          	
            [Reserved]

          	
            7

          
	
            Section 6.7

          	
            Adverse Claims

          	
            7

          
	
            Section 6.8

          	
            Maintenance of Collateral Accounts

          	
            7

          
	
            ARTICLE VII

          	
            MISCELLANEOUS

          	
            8

          
	
            Section 7.1

          	
            Amendment

          	
            8

          
	
            Section 7.2

          	
            Benefit of Agreement

          	
            9

          
	
            Section 7.3

          	
            Notices

          	
            9

          

    

    

    
      
        
          

      

      
      TABLE OF CONTENTS

      (continued)

      

      Page

    

    	
            Section 7.4

          	
            GOVERNING LAW

          	
            10

          
	
            Section 7.5

          	
            Submission to Jurisdiction

          	
            10

          
	
            Section 7.6

          	
            WAIVER OF JURY TRIAL

          	
            10

          
	
            Section 7.7

          	
            No Waiver; Remedies

          	
            10

          
	
            Section 7.8

          	
            Severability

          	
            10

          
	
            Section 7.9

          	
            Headings

          	
            11

          
	
            Section 7.10

          	
            Counterparts

          	
            11

          
	
            Section 7.11

          	
            Electronic Signatures

          	
            11

          

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      -ii-

      
        

    

    This SERIES [_]-[_] ACCOUNT CONTROL AGREEMENT, dated as of [_], 20[_] (this “Agreement”), is among VERIZON MASTER TRUST, a Delaware statutory trust,
      as grantor (the “Grantor”), [_], a [___], not in its individual capacity but solely as [Master Collateral Agent][Indenture Trustee] for the benefit of the [Lenders][Noteholders] (in this capacity, the “Secured Party”), and [_], a [___],
      in its capacity as both a “securities intermediary” as defined in Section 8-102 of the UCC and a “bank” as defined in Section 9-102 of the UCC (in these capacities, the “Financial Institution”).

    BACKGROUND

    The Grantor is engaging in [a financing transaction in which it will become obligated under Advances issued under the Loan Agreement (as defined below)][a
      securitization transaction in which it will issue the Notes under the Indenture (as defined below)], and the Secured Party will hold funds in bank accounts for the benefit of the [Lenders][Noteholders].

    The parties are entering into this Agreement to perfect the security interest in the bank accounts.

    The parties agree as follows:

    ARTICLE I

      USAGE AND DEFINITIONS

    Section 1.1          Usage and Definitions.  Capitalized terms used
        but not defined in this Agreement are defined in (or defined by reference in) the [Loan Agreement, dated as of [_], 20[_] (the “Loan Agreement”), among Verizon Master Trust, as borrower, Cellco Partnership d/b/a Verizon Wireless, as servicer
        (the “Servicer”), [___], as master collateral agent (in such capacity, the “Master Collateral Agent”) and as paying agent (in such capacity, the “Paying Agent”), [___], as administrative agent (the “Administrative Agent”)
        and each Lender and Group Agent from time to time party thereto][Indenture, dated as of [_], 20[_] (the “Indenture”), between Verizon Master Trust, as trust, and [___] as indenture trustee (the “Indenture Trustee”)].  The [Loan
        Agreement][Indenture] also contains by reference, usage rules that apply to this Agreement.  References to the “UCC” mean the Uniform Commercial Code as in effect in the State of New York.

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

    ARTICLE II

      ESTABLISHMENT OF COLLATERAL ACCOUNTS

    Section 2.1          Description of Accounts.  Pursuant to this
        Agreement and the [Loan Agreement][Indenture], the Grantor, the Servicer and the Financial Institution have established the following accounts, subject to the lien of the Secured Party (each, a “Collateral Account”), each of which Collateral
        Accounts shall be a Trust Financing Account:

    
      
        

    

    
    	

          	(i)	
            [“Series [_]-[_] Distribution Account – [_], as [Master Collateral Agent][Indenture Trustee], as secured party for the benefit of the Secured Parties of Verizon Master Trust, Series
              [_]-[_]” with account number [_].]

          

    	

          	(ii)	
            [“Series [_]-[_] Reserve Account – [_], as [Master Collateral Agent][Indenture Trustee], as secured party for the benefit of the Secured Parties of Verizon Master Trust, Series [_]-[_]”
              with account number [_].]

          

    	

          	(iii)	
            [“Series [_]-[_] Principal Funding Account – [_], as [Master Collateral Agent][Indenture Trustee], as secured party for the benefit of the Secured Parties of Verizon Master Trust, Series
              [_]-[_]” with account number [_].]

          

    Section 2.2          Account Changes.  Neither the Financial
        Institution nor the Grantor will change the name or account number of a Collateral Account without the consent of the Secured Party.  The Financial Institution will promptly notify the Servicer of any changes to the name or account number of a
        Collateral Account.  This Agreement will apply to each successor account to a Collateral Account, which will also be a Collateral Account.

    Section 2.3          Account Types.  The Grantor, the Financial
        Institution and the Secured Party hereby confirm and agree that each Collateral Account is either a “securities account” (as defined in Section 8-501 of the UCC) or a “deposit account” (as defined in Section 9-102(a)(29) of the UCC).  The Grantor,
        the Financial Institution and the Secured Party acknowledge and agree that each Collateral Account is intended to be a “securities account.”  Notwithstanding such intention, (x) if a Collateral Account constitutes a “deposit account” under the UCC,
        the provisions of this Agreement governing a “deposit account” shall apply to such Collateral Account and (y) as used herein “deposit account” shall mean a Collateral Account to the extent that it is determined to be a “deposit account” (within the
        meaning of Section 9-102(a)(29) of the UCC) and “securities account” shall mean a Collateral Account to the extent that it is determined to be a “securities account” (within the meaning of Section 8-501 of the UCC).

    Section 2.4          Securities Accounts.  If a Collateral Account is
        a securities account, the Financial Institution agrees that:

    (a)          Financial Assets.  All property delivered to the
        Financial Institution pursuant to the [Loan Agreement][Indenture] and the Master Collateral Agreement that is granted to the [Master Collateral Agent][Indenture Trustee] shall be promptly credited to the applicable Collateral Account in accordance
        with the terms of the [Loan Agreement][Indenture] and the Master Collateral Agreement;

    (b)          Registration and Indorsement.  All securities or other
        property underlying any financial assets credited to any securities account (other than cash) shall be registered in the name of the Financial Institution, indorsed to the Financial Institution or in blank or credited to another securities account
        maintained in the name of the Financial Institution, and in no case will any financial asset credited to any securities account be registered in the name of the Grantor or any other person, payable to the order of the Grantor or any other person,
        or specially indorsed to the Grantor or any other person, except to the extent the foregoing have been specially indorsed to the Financial Institution or in blank; and

    
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    (c)          Exercise of Rights.  Each Collateral Account is an
        account to which financial assets or other property are or may be credited, and the Financial Institution shall, subject to the terms of this Agreement, treat the Grantor as entitled to exercise the rights that comprise any financial asset or other
        property credited to such account.

    Section 2.5          “Financial
            Assets” Election.  The Financial Institution hereby agrees that each item of property (whether investment property, financial asset, security, instrument, general intangible or cash) credited to a Collateral Account to the extent that it
          constitutes a securities account shall be treated as a “financial asset” within the meaning of Section 8-102(a)(9) of the UCC.

    ARTICLE III

      SECURED PARTY CONTROL

    Section 3.1          Control of Collateral Accounts.

    (a)          Notwithstanding any other provision of this Agreement, if at
        any time the Financial Institution shall receive any order from the Secured Party directing transfer or redemption of any financial asset relating to a Collateral Account or any instruction originated by the Secured Party directing the disposition
        of funds in a Collateral Account, the Financial Institution shall comply with such entitlement order or instruction without further consent by the Grantor or any other person.  If the Grantor is otherwise entitled to issue entitlement orders or
        instructions and such entitlement orders or instructions conflict with any entitlement order or instruction issued by the Secured Party, the Financial Institution shall follow the entitlement orders or instructions issued by the Secured Party and
        shall incur no liability therewith.

    (b)          Until the Financial Institution receives a Notice of Sole
        Control pursuant to Section 6.8(a) from the Secured Party, the Financial Institution is authorized to act upon instructions, including entitlement orders, from either the Secured Party or the Grantor.  The Secured Party may exercise sole and
        exclusive control of the Collateral Accounts at any time by delivering to the Financial Institution a Notice of Sole Control as set forth in Section 6.8(a).

    Section 3.2          Investment Instructions.  If (a) the Financial
        Institution has not received an order or instruction from the Grantor directing the deposit, withdrawal, transfer or redemption of the cash or other financial assets credited to a Collateral Account (a “Secured Party Order”) for the
        investment of funds in a Collateral Account by [_] New York time (or another time agreed to by the Financial Institution) on the Business Day before a Payment Date or (b) the Financial Institution receives notice from the Secured Party that a
        Potential Default or Event of Default has occurred and is continuing, the Financial Institution will invest and reinvest funds in such Collateral Account according to the last investment instruction received, if any.  If no prior investment
        instructions have been received or if the instructed investments are no longer available or permitted, the Financial Institution will notify the Servicer and request new investment instructions, and the funds will remain uninvested until new
        investment instructions are received.  For the avoidance of doubt, the Financial Institution shall have no investment discretion.

    
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    Section 3.3          Conflicting Orders or Instructions.  If the
        Financial Institution receives conflicting orders or instructions from the Secured Party and the Grantor or any other Person, the Financial Institution will follow the orders or instructions of the Secured Party and not the Grantor or such other
        Person and shall incur no liability in connection therewith.

    ARTICLE IV

      SUBORDINATION OF LIEN; WAIVER OF SET-OFF

    Section 4.1          Subordination of Lien; Waiver of Set-Off.  In
        the event that the Financial Institution has or subsequently obtains by agreement, by operation of Law or otherwise a security interest in a Collateral Account or any “security entitlement” or other property credited thereto, the Financial
        Institution hereby agrees that such security interest shall be subordinate to the security interest of the Secured Party.  The financial assets, money and other items credited to any Collateral Account will not be subject to deduction, set-off,
        banker’s lien, or any other right in favor of any Person other than the Secured Party (except that the Financial Institution may set off (i) all amounts due to the Financial Institution in respect of customary fees and expenses for the routine
        maintenance and operation of the Collateral Accounts and (ii) the face amount of any checks which have been credited to any such Collateral Account but are subsequently returned unpaid because of uncollected or insufficient funds).

    ARTICLE V

      REPRESENTATIONS, WARRANTIES AND COVENANTS

    Section 5.1          Financial Institution’s Representations and
          Warranties.  The Financial Institution represents and warrants to the Grantor and the Secured Party as follows:

    (a)          Organization.  The Financial Institution is duly
        organized, validly existing and qualified as a [___] under the laws of the United States.

    (b)          Power and Authority.  The Financial Institution has the
        [corporate] power and authority to execute, deliver and perform its obligations under this Agreement.  The Financial Institution has taken all action necessary to authorize the execution, delivery and performance by it of this Agreement.

    (c)          Enforceability.  This Agreement has been duly executed
        by an authorized officer of the Financial Institution and constitutes the legal, valid and binding obligation of the Financial Institution, enforceable against it in accordance with its terms, except as such enforceability may be limited by
        applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar Laws affecting creditors’ rights generally and, if applicable, the rights of creditors from time to time in effect or by general
        principles of equity.

    (d)          No Agreements with Grantor.  There are no agreements
        between the Financial Institution and the Grantor or the Servicer governing or relating to a Collateral Account other than this Agreement, the Master Collateral Agreement, the [Loan Agreement][Indenture] and the other Transaction Documents and
        other Series Related Documents.

    (e)          No Other Agreements.  The Financial Institution has not
        entered into, and until the termination of this Agreement will not enter into, an agreement relating to a Collateral

    
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    Account in which it has agreed to comply with “entitlement orders” (as defined in Section 8-102(a)(8) of the UCC) or “instructions” (within the meaning of Section 9-104 of
      the UCC) of any Person other than the Secured Party or purporting to limit or condition the obligation of the Financial Institution to comply with entitlement orders or instructions.

    (f)          No Limitations.  The Financial Institution has not
        entered into an agreement limiting or conditioning the Financial Institution’s obligation to comply with any Secured Party Order.

    (g)          No Liens.  Except for the claims and interest of the
        Secured Party and of the Grantor in the Collateral Accounts, the Financial Institution has no actual knowledge of any Lien on or claim to, or interest in, any of the Collateral Accounts or in any “financial asset” (as defined in Section 8-102(a) of
        the UCC) or other property credited thereto.

    (h)          Maintenance of Collateral Accounts.  Each Collateral
        Account has been established as set forth in Article II, and such Collateral Accounts will be maintained in the manner set forth herein until termination of this Agreement.

    (i)          Maintenance of Offices.  The Financial Institution has
        at the time of this Agreement, and had at the time of entry into the [Master Collateral Agreement][Loan Agreement][Indenture] and the other Transaction Documents and other Series Related Documents executed on or prior to the date of this Agreement,
        one or more offices in the United States that maintains the securities accounts.

    Section 5.2          Financial Institution’s Covenants.

    (a)          Statements, Confirmations and Other Correspondence.  The
        Financial Institution will promptly deliver copies of statements, confirmations and correspondence about the Collateral Accounts and the cash or other financial assets credited to a Collateral Account to the Grantor and the Secured Party.

    (b)          Notice of Claim.  If a Person asserts a Lien against a
        Collateral Account (or in the cash or other financial assets credited to a Collateral Account), the Financial Institution will promptly notify the Secured Party.

    (c)          Negative Covenants.  Until the termination of this
        Agreement, the Financial Institution will not enter into (i) an agreement relating to a Collateral Account in which it agrees to comply with entitlement orders or instructions of any Person other than the Secured Party or (ii) an agreement limiting
        or conditioning the Financial Institution’s obligation to comply with Secured Party Orders.

    ARTICLE VI

      OTHER AGREEMENTS

    Section 6.1          Reliance by Financial Institution.  The
        Financial Institution is not obligated to investigate or inquire whether the Secured Party may deliver a Secured Party Order.  The Financial Institution may rely on communications (including Secured Party Orders) believed by it in good faith to be
        genuine and given by the proper party.

    
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    Section 6.2          Termination.

    (a)          The Financial Institution may terminate its rights and
        obligations under this Agreement if the Secured Party resigns or is removed as [Master Collateral Agent under the Master Collateral Agreement][Indenture Trustee under the Indenture].  The Grantor may terminate the rights and obligations of the
        Financial Institution if the Financial Institution ceases to be a Qualified Institution.  No termination of the rights and obligations of the Financial Institution under this Agreement will be effective until new Collateral Accounts are established
        with, and the cash and other financial assets credited to the Collateral Accounts are transferred to, another securities intermediary who has agreed to accept the obligations of the Financial Institution under this Agreement or a similar agreement.

    (b)          The Secured Party agrees to provide a Notice of Termination in
        substantially the form of Exhibit B hereto to the Financial Institution upon the request of the Grantor on or after the termination of the Secured Party’s security interest in the Collateral Accounts pursuant to the terms of the [Master Collateral
        Agreement][Loan Agreement][Indenture].  The termination of this Agreement does not terminate any Collateral Account or alter the obligations of the Financial Institution to the Grantor pursuant to any other agreement with respect to any Collateral
        Account.

    Section 6.3          No Petition.  Each party agrees that, before the
        date that is two (2) years and one (1) day (or, if longer, any applicable preference period) after payment in full of (a) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (b) all advances owed by
        Verizon Master Trust, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) the Depositor or (ii) the Grantor, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation
        proceedings or other proceedings under any bankruptcy or similar Law.  This Section 6.3 will survive the termination of this Agreement.

    Section 6.4          Limitation of Liability.

    (a)          Financial Institution.  The Financial Institution will
        not be liable under this Agreement, except for (i) its own willful misconduct, bad faith or gross negligence or (ii) breach of its representations, warranties or covenants in this Agreement.  The Financial Institution will not be liable for
        special, indirect, punitive or consequential losses or damages (including lost profit), even if the Financial Institution has been advised of the likelihood of the loss or damage and regardless of the form of action.

    (b)          Secured Party.  The Secured Party is executing this
        Agreement not in its individual capacity but solely in its capacity as [Master Collateral Agent][Indenture Trustee].  In performing its obligations under this Agreement, the Secured Party is subject to, and entitled to the benefits of, the terms of
        the [Loan Agreement and the Master Collateral Agreement that apply to the Master Collateral Agent][Indenture that apply to the Indenture Trustee].  The [Master Collateral Agent][Indenture Trustee] will not have any liability for any act or failure
        to act of the Servicer, the Custodian, the Marketing Agent, any [other] Creditor Representative or [Lender][Noteholder], the Administrator, the Grantor or any other Person].

    
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    (c)          Owner Trustee.  This Agreement has been signed on behalf
        of the Grantor by [_], not in its individual capacity, but solely in its capacity as Owner Trustee of the Grantor.  In no event will [_] in its individual capacity or a beneficial owner of the Grantor be liable for the Grantor’s obligations under
        this Agreement.  For all purposes under this Agreement, the Owner Trustee is subject to, and entitled to the benefits of, the Trust Agreement.

    Section 6.5          Conflict With Other Agreement.

    (a)          In the event of any conflict between this Agreement (or any
        portion thereof) and any other agreement now existing or hereafter entered into, the terms of this Agreement shall prevail.

    (b)          No amendment or modification of this Agreement or waiver of any
        right hereunder shall be binding on any party hereto unless it is in writing and is signed by all of the parties hereto.

    (c)          The Financial Institution hereby confirms and agrees that:

    (i)          there are no agreements entered into between
        the Financial Institution and the Grantor with respect to the Collateral Accounts other than this Agreement[, the Loan Agreement and the Master Collateral Agreement][and the Indenture]; and

    (ii)          other than the [Loan Agreement and the
        Master Collateral Agreement][Indenture], it has not entered into, and until the termination of this Agreement will not enter into, any other agreement with any other person relating to any Collateral Account or any financial assets or other
        property credited thereto pursuant to which it has agreed to comply with entitlement orders (as defined in Section 8-102(a)(8) of the UCC) or instructions (within the meaning of Section 9-104 of the UCC) of such other person.

    Section 6.6          [Reserved].

    Section 6.7          Adverse Claims.  If the Financial Institution
        receives written notice that any person is asserting any lien, encumbrance or Adverse Claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against any Collateral Account or any financial asset or
        other property credited thereto, the Financial Institution will promptly notify the Secured Party and the Grantor thereof.

    Section 6.8          Maintenance
            of Collateral Accounts.  In addition to, and not in lieu of, the obligation of the Financial Institution to honor entitlement orders and instructions as set forth in Section 3.1 hereof, the Financial Institution, the Grantor and the Secured
          Party agree that the Collateral Accounts shall be maintained as follows:

    (a)          Notice of Sole Control.  If at any
        time the Secured Party delivers to the Financial Institution a Notice of Sole Control in substantially the form set forth in Exhibit A hereto (a “Notice of Sole Control”), the Financial Institution agrees that after receipt of such notice,
        it will take all instructions with respect to the Collateral Accounts solely

    
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    from the Secured Party and shall not comply with instructions or entitlement orders of any other person.

    (b)          Voting Rights.  Until such time as
        the Financial Institution receives a Notice of Sole Control signed by the Secured Party pursuant to subsection (a) of this Section 6.8, the Grantor shall direct the Financial Institution with respect to the voting of any financial assets credited
        to any Collateral Account.

    (c)          Eligible Account.  Until such time as
        the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Grantor shall direct, to the extent permitted by the [Master Collateral Agreement][Loan Agreement][Indenture], the Financial Institution with respect to
        the selection of investments to be made for the credit of a Collateral Account if it is a securities account, and after the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Secured Party shall direct, to the
        extent permitted by the [Master Collateral Agreement][Loan Agreement][Indenture], the Financial Institution with respect to the selection of investments to be made for the credit of a Collateral Account if it is a securities account; provided, however, that the Financial Institution shall not honor any instruction from such Person to purchase any investments other than Permitted
        Investments.

    (d)          Statements and Confirmations.  The
        Financial Institution shall promptly send copies of all statements, confirmations and other correspondence concerning any Collateral Account or any financial assets or other property credited thereto simultaneously to each of the Grantor and the
        Secured Party at the address for each set forth in Section 7.3 of this Agreement.

    ARTICLE VII

      MISCELLANEOUS

    Section 7.1          Amendment.

    (a)          Amendments to Clarify and Correct Errors and Defects. 
        The parties may amend this Agreement, without the consent of the [Administrative Agent or Lenders][Noteholders] for the purpose of curing any ambiguity, correcting an error or correcting or supplementing any provision of this Agreement that may be
        defective or inconsistent with the other terms of this Agreement.

    (b)          Other Amendments.  Other than as set forth in Section
        7.1(c), the parties may also amend this Agreement, without the consent of the [Administrative Agent or Lenders][Noteholders], for the purpose of adding any provisions to, or changing in any manner or eliminating any provisions of, this Agreement or
        of modifying in any manner the rights of the [Lenders][Noteholders] under this Agreement if either (x) the Grantor or the Administrator delivers an Officer’s Certificate to the [Master Collateral Agent][Indenture Trustee] and the Owner Trustee
        stating that the Grantor or the Administrator, as applicable, reasonably believes that such amendment will not have a material adverse effect on the interests of any [Lender][Noteholder] or (y) the Rating Agency Condition has been satisfied for the
        [Loan][Notes] with respect to such amendment.

    
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    (c)          Amendments Requiring Consent of [Lenders][Noteholders]. 
        This Agreement may also be amended from time to time by the parties hereto, with the consent of [the Majority Group Agents][the Noteholders of the Notes evidencing at least a majority of the outstanding principal amount of the [Controlling Class
        of] Notes] and with prior written notice to the [Master Collateral Agent][Indenture Trustee] [and the Rating Agencies], for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Agreement
        or of modifying in any manner the rights of the [Lenders][Noteholders] under this Agreement.

    It shall not be necessary for the consent of the [Lenders][Majority Group Agents][Noteholders] pursuant to this Section 7.1 to approve the particular form
      of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof.  For the avoidance of doubt, any [Lender][Majority Group Agent][Noteholder] consenting to any amendment shall be deemed to agree
      that such amendment does not have a material adverse effect on such [Lender][Noteholder][ or in the case of a Majority Group Agent, its related Lenders].

    (d)          [Master Collateral Agent Consent.  The consent of the
        Master Collateral Agent will be required for any amendment to this Agreement pursuant to Sections 7.1(b) or (c) that has a material adverse effect on the rights, duties, obligations, immunities or indemnities of the Master Collateral Agent.]

    (e)          [Indenture Trustee Consent.  The consent of the
        Indenture Trustee will be required for any amendment to this Agreement pursuant to Sections 7.1(b) or (c) that has a material adverse effect on the rights, duties, obligations, immunities or indemnities of the Indenture Trustee.]

    Section 7.2          Benefit of Agreement.  This Agreement is for the
        benefit of and will be binding on the parties and their permitted successors and assigns.  No other Person will have any right or obligation under this Agreement.

    Section 7.3          Notices.

    (a)          Notices to Parties.  Notices, requests, directions,
        consents, waivers or other communications to or from the parties must be in writing and will be considered received by the recipient:

    (i)          for personally delivered, express or
        certified mail or courier, when received;

    (ii)          for a fax, when receipt is confirmed by
        telephone, reply email or reply fax from the recipient;

    (iii)          for an email, when receipt is confirmed by
        telephone or reply email from the recipient; and

    (iv)          for an electronic posting to a
        password-protected website to which the recipient has access, on delivery of an email (without the requirement of confirmation of receipt) stating that the electronic posting has been made.

    
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    (b)          Notice Addresses.  A notice, request, direction,
        consent, waiver or other communication must be addressed to the recipient at its address stated in Schedule [II] to the [Loan Agreement][Indenture], which address the party may change by notifying the other parties.

    Section 7.4          GOVERNING LAW.  BOTH THIS AGREEMENT AND THE COLLATERAL ACCOUNTS (AS WELL AS THE “SECURITIES ENTITLEMENTS” RELATING THERETO), INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
          WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).  REGARDLESS OF ANY PROVISION IN
          ANY OTHER AGREEMENT, FOR PURPOSES OF THE UCC, NEW YORK SHALL BE DEEMED TO BE THE “BANK’S JURISDICTION” (WITHIN THE MEANING OF SECTION 9-304 OF THE UCC) AND THE “SECURITIES INTERMEDIARY’S JURISDICTION” (WITHIN THE MEANING OF SECTION 8-110 OF THE
          UCC).  THE LAW OF THE STATE OF NEW YORK SHALL GOVERN ALL ISSUES SPECIFIED IN ARTICLE 2(1) OF THE HAGUE SECURITIES CONVENTION.  NOTWITHSTANDING SECTION 7.1 OF THIS AGREEMENT, THE PARTIES WILL NOT AGREE TO ANY AMENDMENT TO THIS AGREEMENT TO CHANGE
          THE GOVERNING LAW TO ANY LAW OTHER THAN THE LAWS OF THE STATE OF NEW YORK.

    Section 7.5          Submission to Jurisdiction.  Each party submits
        to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York State Court sitting in New York, New York for legal proceedings relating to this Agreement.  Each party irrevocably
        waives, to the fullest extent permitted by Law, any objection that it may now or in the future have to the venue of a proceeding brought in such a court and any claim that the proceeding was brought in an inconvenient forum.

    Section 7.6          WAIVER OF JURY
            TRIAL.  TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, OR IN CONNECTION WITH, THIS
          AGREEMENT OR ANY MATTER ARISING THEREUNDER WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.

    Section 7.7          No Waiver; Remedies.  No party’s failure or
        delay in exercising a power, right or remedy under this Agreement will operate as a waiver.  No single or partial exercise of a power, right or remedy will preclude any other or further exercise of the power, right or remedy or the exercise of any
        other power, right or remedy.  The powers, rights and remedies under this Agreement are in addition to any powers, rights and remedies under Law.

    Section 7.8          Severability.  If a part of this Agreement is
        held invalid, illegal or unenforceable, then it will be deemed severable from the remaining Agreement and will not affect the validity, legality or enforceability of the remaining Agreement.

    
      10

      
        

    

    Section 7.9            Headings.  The headings in this Agreement are
        included for convenience and will not affect the meaning or interpretation of this Agreement.

    Section 7.10          Counterparts.  This Agreement may be executed
        in multiple counterparts.  Each counterpart will be an original and all counterparts will together be one document.

    Section 7.11          Electronic Signatures.  Each party agrees that
        this Agreement and any other documents to be delivered in connection herewith may be electronically signed, and that any electronic signatures appearing on this Agreement or such other documents are the same as handwritten signatures for the
        purposes of validity, enforceability, and admissibility.

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      11

      
        

    

    IN WITNESS WHEREOF, the undersigned has caused this Agreement to be executed by its duly authorized officer as of the date and year first above written.

    

    

    	 	
            VERIZON MASTER TRUST,

          
	 	 	
            as Grantor

          
	 	 	 
	 	
            By:   

          	
            [_],

          
	 	 	
            not in its individual capacity but solely as [Owner

          
	 	 	
            Trustee] of Verizon Master Trust

          
	 	 	 
	 	 	 
	 	
            By:

          	
                                                                                          

          
	 	 	
            Name:

          
	 	 	
            Title:

          
	 	 	 
	 	 	 
	 	
            [_], not in its individual capacity but solely as Secured Party

          
	 	 	 
	 	 	 
	 	
            By:

          	
                                                                                          

          
	 	 	
            Name:

          
	 	 	
            Title:

          
	 	 	 
	 	 	 
	 	 	 
	 	
            [_],

          	 
	 	 	
            as Financial Institution

          
	 	 	 
	 	 	 
	 	
            By:

          	
                                                                                          

          
	 	 	
            Name:

          
	 	 	
            Title:

          

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
      

      

    

    
      
        

    

    
    Exhibit A

    [Letterhead of [___]]

    [Date]

     

    

    [Financial Institution], as Financial Institution

    [Address]

    [Address]

    	

          	Re:	
            Notice of Sole Control

          

    Ladies and Gentlemen:

    As referenced in the Series [_]-[_] Account Control Agreement dated as of [_], 20[_] (the “Agreement”), among Verizon Master Trust, a Delaware statutory trust, as
      grantor (the “Grantor”), [_], a [___], as [Master Collateral Agent][Indenture Trustee] for the benefit of the [Lenders][Noteholders] (in such capacity, the “Secured Party”), and [_], a [___], in its capacity as both a “securities
      intermediary” as defined in Section 8-102 of the Uniform Commercial Code (“UCC”) and a “bank” as defined in Section 9-102 of the UCC (in such capacities, the “Financial Institution”), we hereby give you notice of our sole control over
      the Collateral Accounts (as defined in the Agreement) and all financial assets or other property credited thereto.  You are hereby instructed, in your capacity as Financial Institution, not to accept any direction, instruction or entitlement order
      with respect to any Collateral Account or the financial assets or other property credited thereto from any person other than the Secured Party, unless otherwise ordered by a court of competent jurisdiction.

    You are instructed to deliver a copy of this notice by electronic mail to the Grantor, c/o Cellco Partnership d/b/a Verizon Wireless, as administrator of the Verizon Master
      Trust at [___].

    

    

    	 	
            Very truly yours,

          
	 	 	 	 
	 	 	 	 
	 	
            [_], not in its individual capacity, but solely as

          
	 	 	
            Secured Party

          
	 	 	 	 
	 	
            By:  

          	
                                                                    

            

          
	 	 	
            Name:  

          	 
	 	 	
            Title:

          	 

    

    

    

    

    

    

    
      A-1

      
        

    

    
    Exhibit B

    [Letterhead of [___]]

    [Date]

    [Financial Institution], as Financial Institution

    [Address]

    [Address]

    

    

    	

          	Re:	
            Termination of Series [_]-[_] Account Control Agreement

          

    You are hereby notified that the Series [_]-[_] Account Control Agreement dated as of [_], 20[_] (the “Agreement”), among Verizon Master Trust, a Delaware statutory
      trust, as grantor (the “Grantor”), [_], a [___], as [Master Collateral Agent][Indenture Trustee] for the benefit of the [Lenders][Noteholders] (in such capacity, the “Secured Party”) and [_], a [___], in its capacity as both a
      “securities intermediary” as defined in Section 8-102 of the Uniform Commercial Code (“UCC”) and a “bank” as defined in Section 9-102 of the UCC (in such capacities, the “Financial Institution”) is terminated and you have no further
      obligations to the undersigned pursuant to the Agreement.  Notwithstanding any previous instructions to you, you are hereby instructed, as Financial Institution, to accept all future directions with respect to the Collateral Accounts from the
      Grantor.  This notice terminates any obligations you may have to the undersigned with respect to the Agreement; however, nothing contained in this notice shall alter any obligations which you may otherwise owe to [_] pursuant to any other agreement.

    You are instructed to deliver a copy of this notice by electronic mail to the Grantor, c/o Cellco Partnership d/b/a Verizon Wireless, as administrator of the Verizon Master
      Trust at [___].

    

    

    
      	 	
              Very truly yours,

            
	 	 	 	 
	 	 	 	 
	 	
              [_], not in its individual capacity, but solely as

            
	 	 	
              Secured Party

            
	 	 	 	 
	 	
              By:  

            	
                                                                      

              

            
	 	 	
              Name:  

            	 
	 	 	
              Title:

            	 

      

      

    

    

    

    

    

    

    

  

  B-1Exhibit 10.8

    FORM OF PARENT SUPPORT AGREEMENT

    This PARENT SUPPORT AGREEMENT (this “Agreement”) is executed as of [____], 20[_], by VERIZON COMMUNICATIONS INC., a Delaware
      corporation (the “Parent Support Provider”) in favor of Verizon ABS II LLC, a Delaware limited liability company (the “Depositor”), Verizon Master Trust, a Delaware statutory trust (the “Trust”) and [___], as Master Collateral
      Agent under the Master Collateral Agreement (as defined below) (the “Master Collateral Agent”) for the benefit of the Secured Parties.  The Depositor, the Trust and the Master Collateral Agent are collectively referred to as the “Beneficiaries,”
      and each individually a “Beneficiary.”  Capitalized terms used but not defined in this Agreement are defined in Appendix A to the Master Collateral Agency and Intercreditor Agreement, dated as of [_____], 20[_], among the Trust, the Master
      Collateral Agent, Cellco Partnership d/b/a Verizon Wireless, as servicer (in such capacity, the “Servicer”) and the Creditor Representatives from time to time party thereto (the “Master Collateral Agreement”).  Appendix A also contains
      usage rules that apply to this Agreement.  Appendix A is incorporated by reference into this Agreement.

    PRELIMINARY STATEMENTS

    A.          Pursuant to (i) the Originator Receivables
        Transfer Agreement, dated as of [____], 20[_] (the “Originator Receivables Transfer Agreement”) among the Depositor and the various originators from time to time party thereto (the “Originators”), the Originators will transfer and
        absolutely assign to the Depositor a revolving pool of Receivables and related assets from time to time, and (ii) each Additional Transferor Receivables Transfer Agreement (each, an “Additional Transferor Receivables Transfer Agreement”), if
        any, among an Additional Transferor, the Servicer and the Depositor, each Additional Transferor will transfer and absolutely assign to the Depositor a revolving pool of Receivables and related assets from time to time.

    B.          The Trust, the Depositor and Cellco
        Partnership d/b/a Verizon Wireless, as Servicer, marketing agent (in such capacity, the “Marketing Agent”) and custodian (in such capacity, the “Custodian”), are parties to that certain Transfer and Servicing Agreement, dated as of
        [____], 20[_] (the “Transfer and Servicing Agreement”), pursuant to which the Depositor will transfer and absolutely assign to the Trust a revolving pool of Receivables and related assets from time to time and under which each of the
        Servicer, the Marketing Agent and the Custodian will have certain obligations to the Trust.

    C.          Under the Originator Receivables Transfer
        Agreement, to the extent (i) an Originator breaches the Group Eligibility Representation with respect to one or more Receivables designated to such Group (it being understood and agreed that any inaccuracy in a Group Eligibility Representation will
        be deemed not to constitute a breach of such Group Eligibility Representation if such inaccuracy does not affect the ability of the Trust to receive and retain payment in full on such Receivable on the terms and conditions and within the timeframe
        set forth in the underlying device payment plan agreement), (ii) such breach has a material adverse effect on the Credit Extensions related to the Group to which such Receivables

    
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    have been designated and (iii) such breach is not cured in all material respects by the end of the applicable grace period set forth in Section 3.4(b) of
      the Originator Receivables Transfer Agreement, such Originator that has breached the related Group Eligibility Representation is required to reacquire all affected Receivables by remitting the Reconveyance Amount for the related Receivables to the
      Collection Account, as set forth in Section 3.4(b) of the Originator Receivables Transfer Agreement (such reacquisition is referred to herein as the “Originator Reacquisition Obligation”).

    D.          Under the Originator Receivables Transfer
        Agreement, if a Receivable transferred by an Originator to the Depositor becomes a Bankruptcy Surrendered Receivable, the related Originator is required to reacquire any such Receivable from the Trust by remitting the Reconveyance Amount for the
        related Bankruptcy Surrendered Receivables to the Collection Account, as set forth in Section 4.6 of the Originator Receivables Transfer Agreement (such reacquisition obligation (subject to the limit set forth in Section 4.6 of the Originator
        Receivables Transfer Agreement) is referred to herein as the “Originator Bankruptcy Reacquisition Obligation”).

    E.          Under each Additional Transferor
        Receivables Transfer Agreement, if any, to the extent (i) the Servicer breaches the Group Eligibility Representation with respect to one or more Receivables designated to such Group (it being understood and agreed that any inaccuracy in a Group
        Eligibility Representation will be deemed not to constitute a breach of such Group Eligibility Representation if such inaccuracy does not affect the ability of the Trust to receive and retain payment in full on such Receivable on the terms and
        conditions and within the timeframe set forth in the underlying device payment plan agreement), (ii) such breach has a material adverse effect on the Credit Extensions related to the Group to which such Receivables have been designated and (iii)
        such breach is not cured in all material respects by the end of the applicable grace period set forth in Section 3.4(b) of the applicable Additional Transferor Receivables Transfer Agreement, the Servicer is required to acquire all affected
        Receivables by remitting the Reconveyance Amount for the related Receivables to the Collection Account, as set forth in Section 3.4(b) of each such Additional Transferor Trust Receivables Transfer Agreement, if any (such acquisition is referred to
        herein as the “Servicer Additional Transferor Acquisition Obligation”).

    F.          Under each Additional Transferor
        Receivables Transfer Agreement, if any, if a Receivable transferred by an Additional Transferor to the Depositor becomes a Bankruptcy Surrendered Receivable, the Servicer is required to acquire any such Receivable from the Trust by remitting the
        Reconveyance Amount for the related Bankruptcy Surrendered Receivables to the Collection Account, as set forth in Section 3.5 of each Additional Transferor Receivables Transfer Agreement and Section 2.6 of the Transfer and Servicing Agreement (such
        acquisition obligation (subject to the limit set forth in Section 3.5 of each Additional Transferor Receivables Transfer Agreement) is referred to herein as the “Servicer Bankruptcy Acquisition Obligation”).

    G.          Pursuant to the terms of the Transfer and
        Servicing Agreement, the Depositor will transfer and absolutely assign to the Trust, among other things, (i) the Depositor’s rights to the Eligibility Representations made by each Originator under the Originator Receivables Transfer Agreement and
        by the Servicer under each Additional Transferor Receivables Transfer Agreement and (ii) the Depositor’s right to enforce each Originator’s Originator Reacquisition

    
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    Obligation and Originator Bankruptcy Reacquisition Obligation and the Servicer’s Servicer Additional Transferor Acquisition Obligation and Servicer
      Bankruptcy Acquisition Obligation.

    H.          Under the Transfer and Servicing Agreement
        to the extent (i) the Servicer breaches the Group Eligibility Representation made on a Designation Date with respect to one or more Receivables designated to such Group on such Designation Date (it being understood and agreed that any inaccuracy in
        a Group Eligibility Representation will be deemed not to constitute a breach of such Group Eligibility Representation if such inaccuracy does not affect the ability of the Trust to receive and retain payment in full on such Receivable on the terms
        and conditions and within the timeframe set forth in the underlying device payment plan agreement), (ii) such breach has a material adverse effect on the Credit Extensions related to the Group to which such Receivables have been designated and
        (iii) such breach is not cured in all material respects by the end of the applicable grace period set forth in Section 2.7 of the Transfer and Servicing Agreement, the Servicer is required to acquire all affected Receivables by remitting the
        Reconveyance Amount for the related Receivables to the Collection Account, as set forth in Section 2.5(b) of the Transfer and Servicing Agreement (such acquisition is referred to herein as the “Servicer Designation Date Acquisition Obligation”).

    I.          Under the Transfer and Servicing Agreement,
        the Servicer is required to deposit all Collections for any Collection Period into the Collection Account, as specified in Section 4.3(b) of the Transfer and Servicing Agreement (such deposit obligation is referred to herein as the “Servicer
          Deposit Obligation”).

    J.          Under the Transfer and Servicing Agreement,
        to the extent that the Servicer breaches certain covenants made by it under Sections 3.2(b), 3.2(c) or 3.2(d) of the Transfer and Servicing Agreement, the Servicer is required to acquire all affected Receivables from the Trust by remitting the
        related Reconveyance Amount for the related Receivables to the Collection Account, as set forth in Section 3.3(d) of the Transfer and Servicing Agreement (such acquisition is referred to herein as the “Servicer Acquisition Obligation”).

    K.          Under the Transfer and Servicing Agreement,
        the Marketing Agent is required, as set forth in Section 3.11(b) of the Transfer and Servicing Agreement, to remit, or cause the related Originators to remit, to the Collection Account the amounts set forth in Sections 4.3(g), 4.3(h) and 4.3(i) of
        the Transfer and Servicing Agreement, as applicable (such remittance obligation is referred to herein as the “Marketing Agent Remittance Obligation”).

    NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which
      are hereby acknowledged, the Parent Support Provider agrees as follows:

    Section 1.          Undertaking.

    (a)          For value received by it and its
        Affiliates, the Parent Support Provider hereby absolutely, unconditionally and irrevocably assures and undertakes for the benefit of each of the Beneficiaries the due and punctual remittance by any Originator, the Servicer (for as long as the
        Servicer is Cellco or an Affiliate of Cellco) and the Marketing Agent (for as long as the Marketing Agent is Cellco or an Affiliate of Cellco) (referred to collectively as the “Covered

    
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    Entities” and each, a “Covered Entity”), as applicable, of (i) the Reconveyance Amount by each Originator in respect of the Originator Reacquisition Obligation and the Originator Bankruptcy Reacquisition Obligation, (ii) the
        Reconveyance Amount by the Servicer (for as long as the Servicer is Cellco or an Affiliate of Cellco), in respect of the Servicer Additional Transferor Acquisition Obligation, the Servicer Bankruptcy Acquisition Obligation, the Servicer Designation
        Date Acquisition Obligation and the Servicer Acquisition Obligation, (iii) the deposit of Collections by the Servicer (for as long as the Servicer is Cellco or an Affiliate of Cellco) in respect of the Servicer Deposit Obligation and (iv) the
        remittances or payments pursuant to Sections 4.3(g), 4.3(h) or 4.3(i) of the Transfer and Servicing Agreement, as applicable, by the Marketing Agent (for as long as the Marketing Agent is Cellco or an Affiliate of Cellco), or the related
        Originators, in respect of the Marketing Agent Remittance Obligation (the amounts described in clauses (i), (ii), (iii) and (iv), collectively, the “Guaranteed Obligations”)
        irrespective of: (A) the validity, binding effect, subordination, disaffirmance, enforceability or amendment, restatement, modification or supplement of, or waiver of compliance with, this Agreement, the Transaction Documents, any other Series
        Related Documents, or any documents related hereto or thereto, (B) any change in the existence, ownership (to the extent that as a result of such change in ownership such Covered Entity continues to be a subsidiary or Affiliate of Verizon) or
        formation of, or the bankruptcy or insolvency of, any Covered Entity, (C) any extension, renewal, settlement, compromise, exchange, waiver or release in respect of any Guaranteed Obligation (or any collateral security therefor, including the
        property sold, purchased, contributed (or purportedly sold, purchased or contributed) or otherwise pledged or transferred under any of the Transaction Documents or any other Series Related Documents) by any party to this Agreement, the Transaction
        Documents, the other Series Related Documents or any related documents, (D) the existence of any claim, set-off, counterclaim or other right that the Parent Support Provider or any other Person may have against any Covered Entity or any other
        Person, (E) any impossibility or impracticability of performance, illegality, force majeure, any act of any Governmental Authority or any other circumstance that might otherwise constitute a legal or equitable discharge or defense available to, or
        provide a discharge of, the Parent Support Provider, (F) any Law affecting any term of any of the Guaranteed Obligations or any Transaction Document or other Series Related Document, or rights of any Beneficiary with respect thereto or otherwise,
        (G) the failure by any Beneficiary to take any steps to perfect and maintain perfected its interest in, or the impairment of, any Collateral or (H) any failure to obtain any authorization or approval from or to notify or file with, any Governmental
        Authority that is required in connection with the performance of the Guaranteed Obligations or otherwise.

    (b)          Without limiting the generality of the
        foregoing, the Parent Support Provider agrees that if any Covered Entity shall fail in any manner whatsoever to remit any amounts in connection with any of its respective Guaranteed Obligations when the same shall be required to be remitted under
        any applicable Transaction Document to which it is a party, including after the expiration of all applicable grace periods, then the Parent Support Provider will itself duly and punctually remit or cause to be remitted to the Collection Account any
        such Guaranteed Obligations after receipt by the Parent Support Provider of written notice from the Master Collateral Agent or any other Secured Party that the applicable Covered Entity has failed to remit any required amounts under the applicable
        Transaction Documents.  It shall not be a condition to the accrual of the obligation of the Parent Support Provider hereunder to perform any Guaranteed Obligations that a Beneficiary or any other Person shall have first made any

    
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    request of or demand upon or given any notice to the Parent Support Provider, any Covered Entity, or any other Person or have initiated any action or
      proceeding against the Parent Support Provider, any Covered Entity or any other Person in respect thereof, except for any such request, demand or notice required to be given hereunder or under any other Transaction Documents or other Series Related
      Documents.  The Parent Support Provider hereby expressly waives diligence, presentment, demand, protest or notice (except as required hereunder or under any other Transaction Documents or other Series Related Documents) of any kind whatsoever, as
      well as any requirement that the Beneficiaries (or any one of them) exhaust any right to take any action against any Covered Entity or any other Person (including the filing of any claims in the event of a receivership or bankruptcy of any of the
      foregoing), or with respect to any collateral or collateral security at any time securing any of the Guaranteed Obligations, and hereby consents to any and all extensions of time of the due performance of any or all of the Guaranteed Obligations. 
      The Parent Support Provider agrees that it shall not exercise or assert any right which it may acquire by way of subrogation under this Agreement unless and until all Guaranteed Obligations shall have been indefeasibly paid in full.  The Parent
      Support Provider also hereby expressly waives all other defenses it may have as a guarantor or a surety generally or otherwise based upon suretyship, impairment of collateral or otherwise in connection with the Guaranteed Obligations whether in
      equity or at law.  The Parent Support Provider agrees that its obligations hereunder shall be irrevocable and unconditional.

    (c)          Notwithstanding anything set forth in this
        Agreement, the Parent Support Provider shall under no circumstances be obligated to undertake or perform any obligations of any Covered Entity other than those payment obligations expressly set forth in this Agreement  and shall not be deemed by
        virtue of any of its agreements hereunder to have guaranteed the repayment of the Receivables or the timely payment of interest on, the ultimate repayment of the principal of, or any other amounts due with respect to, the Credit Extensions under
        the Master Collateral Agreement or any Transaction Documents or other Series Related Documents.  For the sake of clarity, and without limiting the foregoing, it is expressly acknowledged and agreed that the Guaranteed Obligations do not include the
        payment or guaranty of any amounts to the extent such amounts constitute recourse with respect to a Receivable by reason of nonpayment by an Obligor.

    Section 2.          Confirmation.  The Parent Support Provider hereby confirms that the transactions contemplated by the Transaction Documents and the other Series Related Documents have been arranged among the Covered
        Entities, the Beneficiaries, the Master Collateral Agent and the Owner Trustee, as applicable, with the Parent Support Provider’s full knowledge and consent and any amendment, restatement, modification or supplement of, or waiver of compliance
        therewith, in accordance with the terms thereof by any of the foregoing shall be deemed to be with the Parent Support Provider’s full knowledge and consent.  The Parent Support Provider hereby confirms (i) that on the date hereof (a) the Servicer
        and the Marketing Agent are its wholly owned indirect subsidiaries and (b) each of the Originators is a controlled Affiliate and (ii) that it is in the best interest of the Parent Support Provider to execute this Agreement, inasmuch as the Parent
        Support Provider (individually) and the Parent Support Provider and its Affiliates (collectively) will derive substantial direct and indirect benefit from the transactions contemplated by the Originator Receivables Transfer Agreement, each
        Additional Transferor Receivables Transfer Agreement, if any, the Transfer and Servicing Agreement and the other Transaction Documents and other Series Related Documents.  The

    
      5

      
        

    

    Parent Support Provider agrees to notify the Beneficiaries in the event that (i) the Servicer or the Marketing Agent ceases to be a wholly owned indirect subsidiary of the Parent Support Provider or (ii) any of the Originators ceases to be a controlled
    Affiliate of the Parent Support Provider.
    Section 3.          Representations and Warranties.  The Parent Support Provider hereby represents and warrants to each Beneficiary on and as of the date hereof and each Acquisition Date that:

    (i)          Organization and
          Good Standing.  It is a validly existing corporation in good standing under the laws of the State of Delaware and has 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. 
        It is duly qualified to do business, is in good standing as a foreign entity (or is exempt from such requirements) and has obtained all necessary licenses and approvals in each jurisdiction in which the performance of this Agreement requires such
        qualification, licenses or approvals, except where the failure to so qualify or obtain licenses or approvals would not reasonably be expected to have a Material Adverse Effect.

    (iii)          Power and
          Authority; Due Authorization.  It has duly authorized by all necessary corporate action the execution, delivery and performance of this Agreement.

    (iv)          Binding Obligation. 
        This Agreement constitutes a legal, valid and binding obligation of the Parent Support Provider, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
        moratorium, receivership, conservatorship or other similar Laws affecting creditors’ rights generally or by general principles of equity.

    (v)          No Conflict. 
        The execution and delivery of this Agreement and the performance by the Parent Support Provider of the transactions contemplated by this Agreement and the fulfillment of the terms hereof applicable to the Parent Support Provider, will not (i)
        contravene the organizational documents of the Parent Support Provider, or (ii) conflict with, violate or 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 default
        under, any indenture, contract, agreement, mortgage, deed of trust or other instrument to which the Parent Support Provider is a party or by which it or its properties are bound, except where such conflict, violation or breach would not reasonably
        be expected to have a Material Adverse Effect.

    (vi)          No Violation. 
        The execution and delivery of this Agreement by the Parent Support Provider, the performance by the Parent Support Provider of the transactions contemplated by this Agreement and the fulfillment of the terms hereof applicable to the Parent Support
        Provider will not violate any Law applicable to the Parent Support Provider, except where such violation would not reasonably be expected to have a Material Adverse Effect.

    
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    (vii)          No Proceedings. 
        There are no actions, suits, investigations or other proceedings pending, or to its knowledge threatened, against the Parent Support Provider or any of its properties, that if adversely determined (individually or in the aggregate), would
        reasonably be expected to have a Material Adverse Effect.

    (viii)          Governmental
          Approvals.  No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required for the due execution, delivery and performance by it of this Agreement or the transactions contemplated
        hereby.

    (ix)          Compliance with Law. 
        It has complied with all applicable Law, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect.

    Section 4.          Covenants.  The Parent Support Provider covenants and agrees that, from the date hereof until all Guaranteed Obligations are indefeasibly paid in full, it shall observe and perform the following covenants:

    (i)          Preservation of
          Corporate Existence.  It shall preserve and maintain its legal existence, rights, franchises, qualifications and privileges.

    (ii)          Information and
          Assistance.  It shall also do all such things and execute all such documents as the Beneficiaries may reasonably consider necessary or desirable to give full effect to this Agreement and to perfect and preserve the rights and powers of any
        Beneficiary hereunder or with respect hereto.

    Section 5.          Amendments.

    (i)          Amendments to
          Clarify and Correct Errors and Defects.  The parties may amend this Agreement, without the consent of any Creditor Representatives or Creditors, for the purpose of curing any ambiguity, correcting an error or correcting or supplementing any
        provision of this Agreement that may be defective or inconsistent with the other terms of this Agreement.

    (ii)          Other Amendments. 
        Other than as set forth in Section 5(iii), the parties may also amend this Agreement, without the consent of any Creditor Representatives or Creditors, for the purpose of adding any provisions to, or changing in any manner or eliminating any
        provisions of, this Agreement or of modifying in any manner the rights of the Creditors under this Agreement if either (x) the Trust or the Administrator delivers an Officer’s Certificate to the Master Collateral Agent and the Owner Trustee stating
        that the Trust or the Administrator, as applicable, reasonably believes that such amendment will not have a material adverse effect on the interest of any Creditor or (y) the Rating Agency Condition has been satisfied for all Credit Extensions then
        rated by a Rating Agency with respect to such amendment.

    (iii)          Amendments
          Requiring Consent of all Affected Creditors.  This Agreement may also be amended from time to time by the parties hereto, with the consent of the Majority Creditor Representatives of each Group adversely affected

    
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    thereby, with prior written notice to the applicable Rating Agencies (if any Credit Extensions of an affected Group are then rated by
      such Rating Agency), and the Master Collateral Agent, for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Agreement or of modifying in any manner the rights of the Creditors under this
      Agreement.

    It shall not be necessary for the consent of the Creditors, the applicable Creditor Representatives or the Master
      Collateral Agent pursuant to this Section 5 to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof.  For the avoidance of doubt, any Creditor (acting through
      its Creditor Representative) consenting to any amendment shall be deemed to agree that such amendment does not have a material adverse effect on such Creditor and any Creditor Representative consenting to any amendment shall be deemed to agree that
      such amendment does not have a material adverse effect on such Creditor Representative or its Creditors.

    (iv)          Master Collateral
          Agent Consent.  The consent of the Master Collateral Agent will be required for any amendment under Section 5 (ii) or (iii) that has a material adverse effect on the rights, duties, obligations, immunities or indemnities of the Master
        Collateral Agent.

    (v)          Notice of Amendments. 
        Promptly after the execution of an amendment, the Administrator will deliver a copy of the amendment to the Rating Agencies, if any.

    (vi)          Opinions. 
        Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Master Collateral Agent shall be entitled to receive and rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by
        this Agreement and the Trust Financing Agreements.

    (vii)          Deemed Consent for
          All Creditors.  In the event that the Trust Financing Agreement for a Series enables a portion of the Creditors of that Series, or any Class of that Series, to exercise consent rights for such Series, the consent (or lack thereof) of such
        portion of the Creditors shall be deemed to be the consent (or lack thereof) of all Creditors of such Series.

    (viii)          Trust Financing
          Agreements.  The Trust Financing Agreement for any Series may have additional requirements or criteria to amend, modify or waive any provision of this Agreement, and no amendment, modification or waiver of any provision of this Agreement
        shall occur unless each of the additional criteria, if any, has been satisfied.

    Section 6.          Miscellaneous.

    (a)          The Parent Support Provider agrees that
        any payments hereunder will comprise Collections and be allocated by the Trust according to Section 9.4 of the Master Collateral Agreement.

    
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    (b)          Any payments hereunder shall be made in
        full in U.S. dollars without any set-off, deduction or counterclaim; and the Parent Support Provider’s obligations hereunder shall not be satisfied by any tender or recovery of another currency except to the extent such tender or recovery results
        in receipt of the full amount of U.S. dollars required hereunder.

    (c)          This Agreement and the payment obligations
        of the Parent Support Provider hereunder shall rank pari passu with any similar support agreements issued by the Parent Support Provider or any senior unsecured debt of the Parent Support Provider.

    (d)          This Agreement shall bind and inure to the
        benefit of the parties hereto, the other Beneficiaries and their respective successors and permitted assigns.  The Parent Support Provider shall not assign, delegate or otherwise transfer any rights or obligations hereunder without the prior
        written consent of the Beneficiaries.  Each of the parties hereto agrees that each Beneficiary shall be a third party beneficiary of this Agreement.

    (e)          THIS AGREEMENT, INCLUDING THE RIGHTS AND
        DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO
        ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).

    (f)          Each party submits to the nonexclusive
        jurisdiction of the United States District Court for the Southern District of New York and of any New York State Court sitting in New York, New York for legal proceedings relating to this Agreement.  Each party irrevocably waives, to the fullest
        extent permitted by Law, any objection that it may now or in the future have to the venue of a proceeding brought in such a court and any claim that the proceeding was brought in an inconvenient forum.

    (g)          TO THE EXTENT PERMITTED BY APPLICABLE LAW,
        EACH PARTY HERETO IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY MATTER ARISING THEREUNDER WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.

    (h)          No failure on the part of any Beneficiary
        to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any such right hereunder preclude any other or future exercise thereof or the exercise of any other right.

    Section 7.          Termination of Agreement.  (a)  This Agreement and the Parent Support Provider’s obligations hereunder shall remain operative and continue in full force and effect until the later of (i) the date on which
        all the Credit Extensions have been indefeasibly paid in full and the Transaction Documents and other Series Related Documents have terminated in accordance with their terms, and (ii) such time as all Guaranteed Obligations are duly performed and
        indefeasibly paid and satisfied in full, provided, that this Agreement and the Parent Support Provider’s obligations hereunder shall continue to be effective or shall be reinstated, as the case

    
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    may be, if at any time payment of any of the Guaranteed Obligations is rescinded or must otherwise be restored or returned upon the bankruptcy,
      insolvency, or reorganization of any Covered Entity as though such payment had not been made or other satisfaction occurred, whether or not any of the Beneficiaries (or their respective assigns) are in possession of this Agreement.  No invalidity,
      irregularity or unenforceability by reason of the bankruptcy, insolvency, reorganization or other similar Laws, or any other Law or order of any Governmental Authority thereof purporting to reduce, amend or otherwise affect the Guaranteed Obligations
      shall impair, affect, be a defense to or claim against the obligations of the Parent Support Provider under this Agreement.

    (b)          This Agreement shall survive the
        insolvency of any Covered Entity, any Beneficiary or any other Person and the commencement of any case or proceeding by or against any Covered Entity or any other Person under any bankruptcy, insolvency, reorganization or other similar Law.  No
        automatic stay under any bankruptcy, insolvency, reorganization or other similar Law with respect to any Covered Entity or any other Person shall postpone the obligations of the Parent Support Provider under this Agreement.

    Section 8.          Set-off.  Each Beneficiary (and its assigns) is hereby authorized by the Parent Support Provider at any time and from time to time, without notice to the Parent Support Provider (any such notice being
        expressly waived by the Parent Support Provider) and to the fullest extent permitted by Law, to set-off and apply any and all deposits (general or special, time or demand, provisional or final) and other sums at any time held by, and other
        indebtedness at any time owing to, any such Beneficiary to or for the credit to the account of the Parent Support Provider, against any and all Guaranteed Obligations of the Parent Support Provider, now or hereafter existing under this Agreement.

    Section 9.          Entire Agreement; Severability; No Party Deemed Drafter.  This Agreement and the other Transaction Documents referenced herein constitute the entire agreement of the parties hereto with respect to the
        matters set forth herein.  The rights and remedies herein provided are cumulative and not exclusive of any remedies provided by Law or any other agreement, and this Agreement shall be in addition to any other guaranty of or security for any of the
        Guaranteed Obligations.  The provisions of this Agreement are severable, and in any action or proceeding involving any state corporate, limited partnership or limited liability company law, or any bankruptcy, insolvency, reorganization or other
        similar Law, if the obligations of the Parent Support Provider hereunder would otherwise be held or determined to be avoidable, invalid or unenforceable on account of the amount of the Parent Support Provider’s liability under this Agreement, then,
        notwithstanding any other provision of this Agreement to the contrary, the amount of such liability shall, without any further action by the Parent Support Provider or any Beneficiary, be automatically limited and reduced to the highest amount that
        is valid and enforceable as determined in such action or proceeding.  Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
        unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.  Each of the parties
        hereto hereby agrees that no party hereto shall be deemed to be the drafter of this Agreement.

    
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    Section 10.          Expenses.  The Parent Support Provider agrees to pay on demand to the extent not otherwise paid under the Master Collateral Agreement or any other Transaction Document or other Series Related Document:

    (a)          all reasonable costs
        and expenses incurred by any Beneficiary in connection with the negotiation, preparation, execution and delivery of this Agreement and any amendment, restatement or supplement of, or consent or waivers under, this Agreement (whether or not
        consummated), enforcement of, or any actual or claimed breach of, or claim under, this Agreement, including the fees and expenses of counsel incurred in connection therewith and all accountants’, auditors’, consultants’ and other agents’ fees and
        expenses incurred in connection with any of the foregoing or in advising such Persons as to their respective rights and remedies under this Agreement; and

    (b)          all stamp or
        documentary taxes or any other excise or property taxes, charges or similar levies payable in connection with the execution and delivery of this Agreement, if such taxes are imposed by the United States (or any state or political subdivision
        thereof).

    Section 11.          Addresses for Notices.  All notices and other communications provided for hereunder shall, unless otherwise stated herein, be in writing (including facsimile and email communication) and shall be
        personally delivered or sent by express mail or nationally recognized overnight courier or by certified mail, first class postage prepaid, or by facsimile, to the intended party at the address, facsimile number or email address of such party set
        forth in Schedule A to the Transfer and Servicing Agreement, which address the party may change by notifying the other parties hereto.  All such notices and communications shall be effective, (a) if personally delivered or sent by express mail or
        courier or if sent by certified mail, when received and (b) if transmitted by facsimile or email, when sent, receipt confirmed by telephonic or electronic means.

    Section 12.          No Petition.  The Parent Support Provider agrees that, before the date that is two (2) years and one (1) day (or, if longer, any applicable preference period) after
        the payment in full of (a) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (b) the Credit Extensions, it will not start or pursue against, or join any other Person in starting or pursuing against, (i)
        the Depositor or (ii) the Trust, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings or other proceedings under any bankruptcy or similar Law.  This Section 12 will survive the termination of this
        Agreement.

    Section 13.          Electronic Signatures.  Each party agrees that this Agreement and any other documents to be delivered in connection herewith may be electronically signed, and that any electronic signatures appearing on
        this Agreement or such other documents are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility.

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    IN WITNESS WHEREOF, the
        Parent Support Provider has executed this Agreement as of the date first written above.

    	 	
            VERIZON COMMUNICATIONS INC.

          
	 	 
	 	 
	 	
            By:                                                                      

          
	 	
            Name:

          
	 	
            Title:

          

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
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    ACCEPTED AND ACKNOWLEDGED, as of the date first written above.

    

    

    

    

    VERIZON ABS II LLC,

    as Depositor

    

    

    

    

    By:                                                            

    Name:

    Title:

    

    

    

    

    VERIZON MASTER TRUST

    By:  [___],

    not in its individual capacity, but solely

    as Owner Trustee on behalf of the Trust

    

    

    By:                                                            

    Name:

    Title:

    

    

    

    

    [___],

    not in its individual capacity, but solely

    as Master Collateral Agent

    

    

    By:                                                            

    Name:

    Title:

    

    

    

    

    

    

    

    

  

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