Document:

Exhibit 4.5  

CHARLES RIVER ASSOCIATES INCORPORATED
  200 Clarendon Street, T-33

Boston, Massachusetts 02116 

April    ,
2004 

«M_2»
«M_1»

«Street»

«City», «State» «Zip» 

	Re:
	Stock
Purchase Agreement (the "Agreement") 

Dear
«M_3» «M_1»: 

        We
are pleased that you are interested in purchasing shares of the Common Stock, no par value ("Shares"), of Charles River Associates Incorporated, a Massachusetts corporation (the
"Company"). The terms on which the Company is willing to issue Shares to you, and our agreements regarding such Shares; are as follows: 

        1.    Purchase of Shares.    The Company hereby sells and issues to you, and you hereby purchase from the Company,
«M_5» Shares for an aggregate purchase price of «M_6» («M_7»). Promptly after execution of
this Agreement, the Company will issue a certificate registered in your name representing «M_5» Shares. 

        2.    Your Representations and Warranties.    To induce the Company to issue the Shares to you, you hereby represent,
warrant and agree as follows: 

        2.1    Experience, Financial Capability and Suitability.    You are sufficiently experienced in financial and business
matters to be capable of evaluating the risk of this investment and to make an informed decision relating thereto. You have the financial capability for making the investment, can afford a complete
loss of the investment, and the investment is a suitable one for you. You understand that the purchase of the Shares involves a high degree of risk. You acknowledge that you have access to the
Company's filings with the Securities and Exchange Commission at www.sec.gov and that the Company has encouraged you to review the filings in detail,
particularly the portion of the Company's most recent periodic filing that is entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations—Factors
Affecting Future Performance." You acknowledge that you may lose your entire investment in the Company. 

        2.2    Access to Information.    Prior to the execution of this Agreement, you have had the opportunity to ask
questions of and receive answers from representatives of the Company concerning the finances, operations, business and prospects of the Company and the opportunity to obtain additional information to
verify the accuracy of all information so obtained. 

        2.3    Investment Intent.    You are acquiring the Shares for your own account for the purpose of investment and not
with a view to, or for sale in connection with, the distribution thereof, nor with any present intention of distributing or selling the Shares. You acknowledge and agree that the Shares are not being
registered under the Securities Act of 1933, as amended (the "Securities Act"), and are not being registered or qualified under any state securities or "blue sky" laws, and that the Shares may not be
transferred except in compliance with such laws. 

        2.4    Accredited Investor.    You are an "accredited investor" as such term is defined in Rule 501 of
Regulation D promulgated by the Securities Exchange Commission pursuant to the Securities Act. 

        3.    Restrictions on Transfer.    

        3.1    Securities Law Restrictions.    You agree with the Company that the Shares shall not be pledged, hypothecated,
sold or transferred, unless prior to the proposed pledge, hypothecation, sale 

 

or
transfer of all or part of such Shares (a) a registration statement on the appropriate form under the Securities Act with respect to the Shares proposed to be transferred shall then be
effective, and all applicable state securities and "blue sky" laws shall have been complied with; or (b) the Company shall have received an opinion of counsel to the Company, in form and
substance satisfactory to it, that such registration is not required because such transaction complies with rules promulgated by the Securities and Exchange Commission under the Securities Act and
with applicable state securities and "blue sky" laws. 

        You
understand that the Shares are "restricted securities" as that term is defined in Rule 144 under the Securities Act and that the Shares must be held indefinitely unless they
are subsequently registered under the Securities Act or an exemption from such registration is available; and that in the case of sales in which Rule 144 is not available, compliance with
Regulation A under the Securities Act or some other exemption under the Securities Act will be required. You understand that there may not be available at the time you wish to sell your Shares
the adequate current public information with respect to the Company which would permit offers or sales of the Shares under Rule 144. You understand that the holding period under Rule 144
shall not commence until you pay the full purchase price for the Shares in cash. Except as set forth in Section 3.6 of this Agreement, the Company has no present intention and is under no
obligation to register the Shares under the Securities Act or any state securities or "blue sky" law nor to make Rule 144 available. 

        3.2    General Restrictions on Transfer.    In addition to the foregoing restrictions, you agree with the Company not
to pledge, hypothecate, sell or transfer the Shares (other than the pledge described in Section 4 of this Agreement) until June 8, 2007; provided,
however, that in the event of your death the Shares may be transferred by will or in accordance with the laws of descent and distribution, but such Shares shall remain subject
to all of the terms and conditions of this Agreement; and provided further, that in the event of any merger, consolidation, recapitalization,
reorganization, stock split, stock combination or other readjustment in the capitalization of the Company, it shall not be a violation of this Section 3.2 to surrender certificates representing
the Shares in exchange for certificates issued in your name representing any securities (and any other property) issuable to you as a result of such transaction, but such securities (and other
property) shall remain subject to all of the terms and conditions of this Agreement, including without limitation Sections 4 and 5.1. 

        3.3.    Legending of Shares.    All certificates representing the Shares to be issued to you pursuant to this
Agreement shall have endorsed thereon legends substantially as follows: 

"The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the "Act"), or any state securities law and may not be sold, pledged,
hypothecated or transferred in the absence of an effective registration statement covering these securities under the Act and any applicable state securities laws or an opinion of counsel satisfactory
to the corporation, in
form and substance satisfactory to the corporation, that registration is not required under the Act or under applicable state securities laws." 

"The
securities represented by this certificate are subject to restrictions on transfer set forth in a stock purchase agreement between the registered holder hereof and the corporation. The
corporation will furnish a copy of the agreement to the registered holder hereof upon written request and without charge." 

        3.4    Right of First Purchase.    In addition to the other restrictions on transfer set forth in Sections 3 and 4 of
this Agreement, the Company shall have a right of first purchase with respect to any Shares you wish to sell. You shall provide the Company with written notice of your intent to sell such Shares, and
the Company shall have the right for a period of 10 business days following receipt of your notice to purchase such Shares from you. The Company may exercise this right by 

2

 

providing
you with written notice of exercise, which notice shall specify the number of such Shares that the Company desires to purchase. The per share purchase price for such sale shall be equal to
the average closing price of the Company's Common Stock for the ten trading days prior to the date on which you send your notice. If the Company exercises its right of first purchase, the purchase and
sale of such Shares shall occur within 10 business days following such exercise. If the Company fails, with respect to any notice received on or after May 11, 2007, to exercise its right of
first purchase within such ten-day period, you shall thereafter be entitled to sell at any time the Shares with respect to which the Company shall not have exercised its right of first
purchase. You agree that the first date on which you may sell any Shares free of the restrictions in Section 3.2 of this Agreement is June 8, 2007 and, in order to facilitate the sale of
Shares on that date, the Company agrees that you may provide written notice of your intent to sell Shares as early as May 11, 2007. You acknowledge that, although the restrictions in
Section 3.2 of this Agreement will lapse on June 8, 2007, the Company is unable to guarantee that other factors, such as your possession of material non-public information
regarding the Company, the Company's insider trading policy (to the extent it may apply to you on such date) or the suspension of the Company's obligations under Section 3.6 of this Agreement
in accordance with the terms of such Section 3.6, will not prevent you from selling your Shares on that date or for a period of time thereafter. 

        3.5    Termination of Certain Transfer Restrictions.    In the event of your death, the transfer restrictions set
forth in Sections 3.2 and 3.4 of this Agreement shall terminate at such time as all payment obligations under that certain Promissory Note of even date herewith issued by you to the Company (the
"Note") are satisfied. 

        3.6    Shelf Registration.    For purposes of this Agreement, the term "Registrable Securities" means (i) all
of the shares of Common Stock purchased by you hereunder, (ii) any shares of Common Stock issued or issuable by the Company in respect of the shares of Common Stock purchased by you hereunder,
whether by means of a stock split, stock dividend or otherwise and (iii) any other securities issued or issuable by the Company in respect of the shares of Common Stock referred to in clauses
(i) and (ii), whether by means of a merger, consolidation, recapitalization, reorganization or similar event, but only if at the time of registration the Company shall have listed such other
securities for trading on a national securities exchange or the Nasdaq National Market. The foregoing securities will cease to be Registrable Securities if and when they (i) have been
registered by the Company under the Securities Act and either (A) disposed of pursuant to such registration statement or (B) such registration continues to be effective at the time of
inquiry, (ii) have been sold, transferred, distributed or otherwise disposed of by you (other than upon your death by will or in accordance with the laws of descent and distribution), including
any sale pursuant to Section 3.4 of this Agreement, or (iii) first become eligible for sale pursuant to Rule 144 under the Securities Act of 1933, as amended (the "Securities
Act"). The Company hereby agrees to prepare and file with the Securities and Exchange Commission a registration statement (the "Shelf Registration Statement"), in compliance with the Securities Act,
under Rule 415 under the Securities Act (or any successor rule relating to continuous offerings by security holders), with respect to the resale of your Registrable Securities, provided that at
the time of the filing of the Shelf Registration Statement the Company shall be eligible to use Form S-3 or Form S-8 (or any successor short-form
registration statement available for such resale that permits incorporation by reference at least to the same extent as either such form) with respect to the disposition of such Registrable
Securities. The Company shall (i) use commercially reasonable efforts to cause the Shelf Registration Statement to become effective no later than 9:00 a.m. on June 8, 2007 and
(ii) maintain the effectiveness of the Shelf Registration Statement until the close of business on June 8, 2008; provided, however, that the Company's obligations under this paragraph
shall be suspended during any period (A) when the Company shall conclude in its sole discretion, after consultation with its legal counsel, that it is advisable to suspend use of any prospectus
as a result of pending corporate developments, the disclosure requirements of the 

3

 

securities
laws or other events deemed material by the Company or (B) when the filing or effectiveness of the Shelf Registration Statement could, in the opinion of the Company, after
consultation with its financial advisors, impair the Company's ability to pursue a financing, acquisition or other transaction; and provided further, that no period during which the use of any
prospectus shall be suspended pursuant to clause (A) or clause (B) above shall continue for more than 120 days. The Company shall use commercially reasonable efforts to issue its
quarterly earnings release sufficiently in advance of June 8, 2007 so that the Company's quarterly black-out period under its insider trading policy shall not be in effect on
June 8, 2007. The Company shall prepare and file with the Securities and Exchange Commission such amendments and supplements to the Shelf Registration Statement and the prospectus used in
connection therewith as may be necessary in its opinion to comply with its obligations under this paragraph. If the Company's obligations under this paragraph are suspended for any reason, the Company
shall promptly provide you with written or oral notice of both the commencement and termination of the period of suspension. After receipt of such notice, you shall not offer, sell, pledge,
hypothecate, transfer, distribute or otherwise dispose of, in reliance on the Shelf Registration Statement, any of your Registrable Securities during any period in which the Company's obligations
under this paragraph are suspended. In addition, you acknowledge that, in order to ensure compliance with insider trading and other securities laws, the Company from time to time imposes restrictions
on the trading of its securities by its directors, officers, employees and others, and you agree to comply with those restrictions as long as they apply to you. It shall be a condition to the
Company's obligations under this paragraph that you (i) shall have promptly taken all such actions as
the Company shall reasonably request in connection with the Shelf Registration Statement and (ii) shall have provided promptly (and in any event within seven business days) such information and
other materials as the Company or its counsel shall request in connection with the Shelf Registration Statement. You represent, warrant and agree that all such information provided by you or on your
behalf shall be true, complete and correct. You shall comply with the Securities Act and any other laws, rules or regulations applicable to any disposition of Registrable Securities pursuant to the
Shelf Registration Statement. The Company shall pay all expenses incurred by it in complying with its obligations under this paragraph, including without limitation registration and filing fees,
listing fees, printing expenses, messenger and delivery expenses, fees and expenses of the Company's counsel, fees and expenses of the Company's accountants, and the Company's internal expenses. You
shall pay all expenses incurred by you in connection with the disposition of your Registrable Securities, including without limitation any broker's fees or commissions, selling expenses, messenger and
delivery expenses, and fees and expenses of any counsel retained by you. All of the Company's obligations under this paragraph shall terminate on the date on which all of your Registrable Securities
may be sold at one time under Rule 144 under the Securities Act. Your rights under this paragraph are personal to you and non-transferable except by will or in accordance with the
laws of descent and distribution. You agree that the Company's obligations under this paragraph may be waived by the holders of a majority of the shares of Common Stock (and other securities issued or
issuable in respect thereof) acquired pursuant to Section 6.11(b) of the Agreement and Plan of Merger dated as of March 18, 2004 by and among the Company, IP Acquisition Corp.,
Intecap, Inc. and the Company Stockholder Representative (as defined therein), as amended from time to time. 

        4.    Stock Pledge.    As security for the due and punctual payment by you when due of any amounts payable by you
under the Note, you hereby pledge, assign, transfer and grant a security interest in the Shares to the Company. As security for the pledge granted herein, you agree that the Company shall hold the
certificate evidencing the Shares (together with stock power executed by you in blank) until such time as all payment obligations under the Note are satisfied. Upon the satisfaction of all payment
obligations under the Note, the Company shall release its security interest in the Shares under this Section 4 and return to you the certificates and accompanying stock powers held by it (it
being 

4

 

understood
that, notwithstanding the return of any such certificate, Section 3 of this Agreement shall continue to apply in accordance with its terms). 

        5.    Other Agreements.    

        5.1    Further Assurances.    You agree to execute such further instruments and to take such further action as may
reasonably be necessary to carry out the intent of this Agreement. You agree that, in the event of any merger, consolidation, recapitalization, reorganization, stock split, stock combination, stock
dividend or other readjustment in the capitalization of the Company, the term "Shares" shall be deemed (a) for purposes of Section 3 of this Agreement, to include, without limitation,
any and all securities issued or issuable to you in respect of the Shares held by you at the time of such event and (b) for purposes of Section 4 of this Agreement, to include, without
limitation, any and all securities and other property issued or issuable to you in respect of the Shares held by you at the time of such event. 

        5.2    No Obligation as to Employment.    You acknowledge and agree that the Company is not by reason of this
Agreement obligated to employ or retain, or continue to employ or retain, you in any capacity. 

        5.3    Notices.    All notices, requests, consents and other communications hereunder shall be in writing, shall be
addressed to the receiving party's address set forth above or to such other address as a party may designate by notice hereunder, and shall be either (i) delivered by hand, (ii) made by
telecopy or facsimile transmission, (iii) sent by overnight courier, or (iv) sent by registered mail, return receipt requested, postage prepaid. All notices, requests, consents and other
communications hereunder shall be deemed to have been given either (i) if by hand, at the time of the delivery thereof to the receiving party at the address of such party as specified above,
(ii) if made by telecopy or facsimile transmission, at the time that receipt thereof has been acknowledged by electronic confirmation or otherwise, (iii) if sent by overnight courier, on
the business day following the day such notice, request, consent or other communication is delivered to the courier service, or (iv) if sent by registered mail, on the 5th business day
following the day such mailing is made. 

        5.4    Entire Agreement.    This Agreement embodies the entire agreement and understanding between the parties hereto
with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant
or agreement of any kind not expressly set forth in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement. 

        5.5    Modifications and Amendments.    The terms and provisions of this Agreement may be modified or amended only by
written agreement executed by all parties hereto. 

        5.6    Waivers and Consents.    The terms and provisions of this Agreement may be waived, or consent for the departure
therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or
consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for
which it was given, and shall not constitute a continuing waiver or consent. 

        5.7    Assignment.    You may not assign any of your rights and obligations under this Agreement without the prior
written consent of the Company. 

        5.8    Benefit.    All statements, representations, warranties, covenants and agreements in this Agreement shall be
binding on the parties hereto and shall inure to the benefit of the respective 

5

 

successors
and permitted assigns of each party hereto. Nothing in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity shall
be regarded as a third-party beneficiary of this Agreement. 

        5.9    Governing Law.    This Agreement and the rights and obligations of the parties hereunder shall be construed in
accordance with and governed by the law of the Commonwealth of Massachusetts without giving effect to the conflict of law principles thereof. 

        5.10    Severability.    In the event that any court of competent jurisdiction shall determine that any provision, or
any portion thereof, contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems it reasonable
and enforceable, and as so limited shall remain in full force and effect. In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions
of this Agreement shall nevertheless remain in full force and effect. 

        5.11    Headings and Captions.    The headings and captions of the various subdivisions of this Agreement are for
convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof. 

        5.12    No Waiver of Rights, Powers and Remedies.    No failure or delay by a party hereto in exercising any right,
power or remedy under this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy under this Agreement by a party hereto, nor any
abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or
remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not
expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the
rights of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand. 

        5.13    Survival of Representations and Warranties.    All representations and warranties made by the parties hereto
in this Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery hereof and any investigations made by or on behalf
of the parties. 

        5.14    No Broker or Finder.    Each of the parties hereto represents and warrants to the other that no broker, finder
or other financial consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such a way as to create any liability on the other. 

        5.15    Counterparts.    This Agreement may be executed in one or more counterparts, and by different parties hereto
on separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

*
* * 

6

 

        If
the foregoing accurately sets forth your understanding and agreement, please sign the enclosed copy of this agreement and return it to us. 

	 	 	Very truly yours,
	

 	
 	

CHARLES RIVER ASSOCIATES INCORPORATED
	

 	
 	

By:	

 J. Phillip Cooper

Executive Vice President and Chief Financial Officer

Accepted
and agreed as of

the date first written above: 

	
 «M_2» «M_1»	 	 	 	 

7Exhibit 4.1
EXECUTION COPY

 

 

 

	
             
 

 

 

BA CREDIT CARD TRUST

as Issuer

 

CLASS A(2007-6) TERMS DOCUMENT

dated as of April 12, 2007

to

AMENDED AND RESTATED BASERIES INDENTURE SUPPLEMENT

dated as of June 10, 2006

to

SECOND AMENDED AND RESTATED INDENTURE

dated as of October 20, 2006

 

THE BANK OF NEW YORK

as Indenture Trustee

 

 

	
             
 

 

	
            ARTICLE I
 	
             
 
	
            Definitions and Other Provisions of General Application
 	
             
 
	
             
 	
            Section 1.01. Definitions
 	
            1
 
	
             
 	
            Section 1.02. Governing Law; Submission to Jurisdiction; Agent for Service of
 	
             
 
	
             
 	
             
 	
            Process
 	
            5
 
	
             
 	
            Section 1.03. Counterparts
 	
            6
 
	
             
 	
            Section 1.04. Ratification of Indenture and Indenture Supplement
 	
            6
 
	
            ARTICLE II
 	
             
 
	
            The Class A(2007-6) Notes
 	
             
 
	
             
 	
            Section 2.01. Creation and Designation
 	
            7
 
	
             
 	
            Section 2.02. Specification of Required Subordinated Amount and other Terms
 	
            7
 
	
             
 	
            Section 2.03. Interest Payment
 	
            7
 
	
             
 	
            Section 2.04. Calculation Agent; Determination of LIBOR
 	
            8
 
	
             
 	
            Section 2.05. Payments of Interest and Principal
 	
            9
 
	
             
 	
            Section 2.06. Form of Delivery of Class A(2007-6) Notes; Depository;
 	
             
 
	
             
 	
             
 	
            Denominations
 	
            9
 
	
             
 	
            Section 2.07. Delivery and Payment for the Class A(2007-6) Notes
 	
            9
 
	
             
 	
            Section 2.08. Targeted Deposits to the Accumulation Reserve Account
 	
            9
 
	
            ARTICLE III
 	
             
 
	
            Representations and Warranties
 	
             
 
	
             
 	
            Section 3.01. Issuer’s Representations and Warranties
 	
            10
 

 

 

THIS CLASS A(2007-6) TERMS DOCUMENT (this “Terms Document”), by and between BA CREDIT CARD TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, and THE BANK OF NEW YORK, a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of April 12, 2007.

 

Pursuant to this Terms Document, the Issuer and the Indenture Trustee shall create a new tranche of Class A Notes and shall specify the principal terms thereof.

 

ARTICLE I

 

Definitions and Other Provisions of General Application

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

(a)          the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

(b)          all other terms used herein which are defined in the Amended and Restated BAseries Indenture Supplement, dated as of June 10, 2006 (the “Indenture Supplement”), between the Issuer and the Indenture Trustee, or the Second Amended and Restated Indenture, dated as of October 20, 2006 (the “Indenture”), between the Issuer and the Indenture Trustee, as acknowledged and accepted by FIA, as Servicer, either directly or by reference therein, have the meanings assigned to them therein; 

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

(d)          all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions of this Terms Document as originally executed;

(e)          the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular Article, Section or other subdivision; 

(f)           in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Indenture Supplement or the Indenture, the terms and provisions of this Terms Document shall be controlling;

(g)          each capitalized term defined herein shall relate only to the Class A(2007-6) Notes and no other tranche of Notes issued by the Issuer; and 

 

 

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

“Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period Length is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first Transfer Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class A(2007-6) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the first Transfer Date following and including the March 2012 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence
earlier than 24 months prior to the Expected Principal Payment Date, (iii) the Monthly Period following the first Transfer Date following and including the September 2012 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 3%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 18 months prior to the Expected Principal Payment Date, and (iv) the Monthly Period following the first Transfer Date following and including the November 2012 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 16 months prior to the Expected Principal Payment Date and (y) ending on the close of business on the last day of the Monthly Period preceding the earlier to occur of (i) the Expected Principal Payment Date for the Class A(2007-6) Notes and (ii) the date on which
the Class A(2007-6) Notes are paid in full.

 

“Base Rate” means, with respect to any Monthly Period, the sum of (i) the Weighted Average Interest Rates for the Outstanding BAseries Notes, (ii) the Net Servicing Fee Rate (as such term is defined in the Series 2001-D Supplement) and (iii) so long as FIA or The Bank of New York is the Servicer, the Servicer Interchange Rate, in each case, for such Monthly Period.

 

“BAseries Servicer Interchange” means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicer Interchange (as such term is defined in the Series 2001-D Supplement) with respect to such Monthly Period and (b) a fraction the numerator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period and the denominator of which is the Weighted Average Available Funds Allocation Amount for all series of Notes for such Monthly Period.

 

“Calculation Agent” is defined in Section 2.04(a).

 

“Class A(2007-6) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated therein as a Class A(2007-6) Note and duly executed and authenticated in accordance with the Indenture.

 

“Class A(2007-6) Noteholder” means a Person in whose name a Class A(2007-6) Note is registered in the Note Register.

 

	
             
 	
            2
 

 

“Class A(2007-6) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2007-6) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article VI thereof.

 

“Class A Required Subordinated Amount of Class B Notes” is defined in Section 2.02(a).

 

“Class A Required Subordinated Amount of Class C Notes” is defined in Section 2.02(b).

 

“Controlled Accumulation Amount” means $62,500,000.00; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount shall be the amount specified in the definition of “Controlled Accumulation Amount” in the Indenture Supplement.

 

“Excess Available Funds Percentage” means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

 

“Expected Principal Payment Date” means April 15, 2014.

 

“Initial Dollar Principal Amount” means $750,000,000.

 

“Interest Payment Date” means the fifteenth day of each month, or if such fifteenth day is not a Business Day, the next succeeding Business Day, commencing May 15, 2007.

 

“Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and including the Issuance Date) through the day preceding such Interest Payment Date.

 

“Issuance Date” means April 12, 2007.

 

“Legal Maturity Date” means September 15, 2016.

 

“LIBOR” means, for any Interest Period, the London interbank offered rate for one-month United States dollar deposits or, for the first Interest Period, the rate that corresponds to the actual number of days in the first Interest Period determined by the Calculation Agent on the LIBOR Determination Date for that Interest Period in accordance with the provisions of Section 2.04.

 

 

	
             
 	
            3
 

 

“LIBOR Determination Date” means April 10, 2007 for the period from and including the Issuance Date to but excluding May 15, 2007, and for each Interest Period thereafter, the second London Business Day prior to the Interest Payment Date on which such Interest Period commences.

 

“London Business Day” means any Business Day on which dealings in deposits in United States Dollars are transacted in the London interbank market.

 

 “Note Interest Rate” means a per annum rate equal to 0.06% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

 

“Paying Agent” means The Bank of New York.

 

“Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is (a) the amount of Available Funds allocated to the BAseries pursuant to Section 501 of the Indenture, plus (b) any Interest Funding sub-Account Earnings on the related Transfer Date, plus (c) any amounts to be treated as BAseries Available Funds pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement, plus (d) the BAseries Servicer Interchange for such Monthly Period, minus (e) the excess, if any, of the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over the sum of the aggregate amount to be treated as BAseries Available Funds for such Monthly Period pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of BAseries Notes for such Monthly Period, minus (f) the BAseries Investor Default Amount for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period.

 

“Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 306 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note.

 

“Quarterly Excess Available Funds Percentage” means, with respect to the March 2012 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

 

“Record Date” means, for any Transfer Date, the last Business Day of the preceding Monthly Period.

 

“Reference Banks” means four major banks in the London interbank market selected by the Beneficiary.

 

	
             
 	
            4
 

 

“Required Accumulation Reserve sub-Account Amount” means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2007-6) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

 

“Reuters Screen LIBOR01 Page” means the display page currently so designated on the Reuters Monitor Money Rates (or such other page as may replace that page on that service, or such other service as may be nominated as the information vendor, for the purpose of displaying comparable rates or prices).

 

“Servicer Interchange Rate” means, for any Monthly Period, the percentage equivalent of a fraction, the numerator of which is the BAseries Servicer Interchange for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period.

 

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

 

“Weighted Average Interest Rates” means, with respect to any Outstanding Notes of a class or tranche of the BAseries, or of all of the Outstanding Notes of the BAseries, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes on such date) of the following rates of interest:

 

(a)          in the case of a tranche of Dollar Interest-bearing Notes with no Derivative Agreement for interest, the rate of interest applicable to that tranche on that date;

(b)          in the case of a tranche of Discount Notes, the rate of accretion (converted to an accrual rate) of that tranche on that date;

(c)          in the case of a tranche of Notes with a payment due under a Performing Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue on that date (prior to the netting of such payments, if applicable); and 

(d)          in the case of a tranche of Notes with a non-Performing Derivative Agreement for interest, the rate specified for that date in the related terms document.

Section 1.02.     Governing Law; Submission to Jurisdiction; Agent for Service of Process.  This Terms Document shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflict of laws.  The parties hereto declare that it is their intention that this Terms Document shall be regarded as made under the laws of the State of Delaware and that the laws of said State shall be applied in interpreting its provisions in all cases where legal interpretation shall be required.  Each of the parties hereto agrees (a) that this Terms Document involves at least $100,000.00, and (b) that this Terms Document has been entered into by the parties hereto in express reliance upon 6 DEL. C. § 2708. 

 

	
             
 	
            5
 

 

Each of the parties hereto hereby irrevocably and unconditionally agrees (a) to be subject to the jurisdiction of the courts of the State of Delaware and of the federal courts sitting in the State of Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of legal process, and (2) that, to the fullest extent permitted by applicable law, service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service constituting evidence of valid service, and that service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the same legal force and effect as if served upon such party personally within the State of Delaware.

Section 1.03.     Counterparts.  This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument.

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

[END OF ARTICLE I]

 

	
             
 	
            6
 

 

ARTICLE II

 

The Class A(2007-6) Notes

Section 2.01.     Creation and Designation.  There is hereby created a tranche of BAseries Class A Notes to be issued pursuant to the Indenture and the Indenture Supplement to be known as the “BAseries Class A(2007-6) Notes.”

Section 2.02.     Specification of Required Subordinated Amount and other Terms.

 (a)         For the Class A(2007-6) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes will be an amount equal to 8.72093% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-6) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2007-6) Notes shall have occurred, if an Event of Default and acceleration of the Class A(2007-6) Notes shall have occurred or if the Class A Usage of the Class B Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-6) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on
which the Class A Usage of Class B Required Subordinated Amount exceeded zero.

(b)          For the Class A(2007-6) Notes for any date of determination, the Class A Required Subordinated Amount of Class C Notes will be an amount equal to 7.55814% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-6) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2007-6) Notes shall have occurred, if an Event of Default and acceleration of the Class A(2007-6) Notes shall have occurred or if the Class A Usage of the Class C Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of the Class A(2007-6) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the
date on which the Class A Usage of Class C Required Subordinated Amount exceeded zero.

 (c)         The Issuer may change the percentages set forth in clause (a) or (b) above without the consent of any Noteholder so long as the Issuer has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes of the BAseries that the change in either of such percentages will not result in a Ratings Effect with respect to any Outstanding Notes of the BAseries and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion. 

Section 2.03.     Interest Payment.

(a)          For each Interest Payment Date, the amount of interest due with respect to the Class A(2007-6) Notes shall be an amount equal to the product of (i)(A) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Note Interest Rate in effect with respect to the related Interest Period, times (ii) the Outstanding Dollar Principal Amount of the Class A(2007-6) Notes determined as of the Record Date preceding the related Transfer Date.  Interest on the

 

	
             
 	
            7
 

 

  

Class A(2007-6) Notes will be calculated on the basis of the actual number of days in the related Interest Period and a 360-day year.

(b)          Pursuant to Section 3.03 of the Indenture Supplement, on each Transfer Date, the Indenture Trustee shall deposit into the Class A(2007-6) Interest Funding sub-Account the portion of BAseries Available Funds allocable to the Class A(2007-6) Notes. 

Section 2.04.     Calculation Agent; Determination of LIBOR.

(a)             The Issuer hereby agrees that for so long as any Class A(2007-6) Notes are Outstanding, there shall at all times be an agent appointed to calculate LIBOR for each Interest Period (the “Calculation Agent”).  The Issuer hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest Period.  The Calculation Agent may be removed by the Issuer at any time.  If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuer shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with
the Issuer or its Affiliates.  The Calculation Agent may not resign its duties, and the Issuer may not remove the Calculation Agent, without a successor having been duly appointed.

(b)          On each LIBOR Determination Date, the Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a one-month period which appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on such date (or, for the first Interest Period, the rate that corresponds to the actual number of days in the first Interest Period).  If such rate does not appear on Reuters Screen LIBOR01 Page, the rate for that LIBOR Determination Date shall be determined on the basis of the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a one-month period.  The Calculation Agent shall request the principal London office of each
of the Reference Banks to provide a quotation of its rate.  If at least two such quotations are provided, the rate for that LIBOR Determination Date shall be the arithmetic mean of the quotations.  If fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by four major banks in New York City, selected by the Beneficiary, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a one-month period.

(c)          The Note Interest Rate applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning the Indenture Trustee at its corporate trust office at (212) 815-3247 or such other telephone number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time to time.

(d)          On each LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee, the Beneficiary and the Servicer, by facsimile transmission, notification of LIBOR for the following Interest Period.

 

	
             
 	
            8
 

 

 

Section 2.05.     Payments of Interest and Principal.

(a)          Any installment of interest or principal, if any, payable on any Class A(2007-6) Note which is punctually paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2007-6) Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on
the Note Register on such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee.

(b)          The right of the Class A(2007-6) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class A(2007-6) Termination Date.

Section 2.06.     Form of Delivery of Class A(2007-6) Notes; Depository; Denominations.

(a)          The Class A(2007-6) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202 and 301(i) of the Indenture, respectively.

(b)          The Depository for the Class A(2007-6) Notes shall be The Depository Trust Company, and the Class A(2007-6) Notes shall initially be registered in the name of Cede & Co., its nominee.

(c)          The Class A(2007-6) Notes will be issued in minimum denominations of $5,000 and multiples of $1,000 in excess of that amount.

Section 2.07.     Delivery and Payment for the Class A(2007-6) Notes.  The Issuer shall execute and deliver the Class A(2007-6) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2007-6) Notes when authenticated, each in accordance with Section 303 of the Indenture.

Section 2.08.     Targeted Deposits to the Accumulation Reserve Account.  The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount.

[END OF ARTICLE II]

 

	
             
 	
            9
 

 

ARTICLE III

 

Representations and Warranties

Section 3.01.     Issuer’s Representations and Warranties.  The Issuer makes the following representations and warranties as to the Collateral Certificate on which the Indenture Trustee is deemed to have relied in acquiring the Collateral Certificate.  Such representations and warranties speak as of the execution and delivery of this Terms Document, but shall survive until the termination of this Terms Document.  Such representations and warranties shall not be waived by any of the parties to this Terms Document unless the Issuer has obtained written confirmation from each Note Rating Agency that there will be no Ratings Effect with respect to such waiver.

(a)          The Indenture creates a valid and continuing security interest (as defined in the Delaware UCC) in the Collateral Certificate in favor of the Indenture Trustee, which security interest is prior to all other liens, and is enforceable as such as against creditors of and purchasers from the Issuer.

(b)          The Collateral Certificate constitutes either an “account,” a “general intangible,” an “instrument,” or a “certificated security,” each within the meaning of the Delaware UCC.

(c)          At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the Issuer owned and had good and marketable title to the Collateral Certificate free and clear of any lien, claim or encumbrance of any Person.

(d)          The Issuer has caused, within ten days of the execution of the Indenture, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Collateral Certificate granted to the Indenture Trustee pursuant to the Indenture. 

(e)          Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed the Collateral Certificate.  The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral covering the Collateral Certificate other than any financing statement relating to the security interest granted to the Indenture Trustee pursuant to the Indenture or any financing statement that has been terminated.  The Issuer is not aware of any judgment or tax lien filings against the Issuer.

(f)           All original executed copies of the Collateral Certificate have been delivered to the Indenture Trustee.

(g)          At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the Collateral Certificate had no marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Indenture Trustee.

 

	
             
 	
            10
 

 

[END OF ARTICLE III]

 

	
             
 	
            11
 

 

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

 

 

	
             
 	
            BA CREDIT CARD TRUST,
 
	
             
 	
            by BA CREDIT CARD FUNDING, LLC,
 
	
             
 	
            as Beneficiary and not in its individual capacity
 
	
             
 	
             
 
	
             
 	
             
 
	
             
 	
            /s/ Keith W. Landis
 
	
             
 	
            By:       ________________________________________
 
	
             
 	
            Name:   Keith W. Landis
 
	
             
 	
            Title:     Vice President
 
	
             
 	
             
 
	
             
 	
             
 
	
             
 	
             
 
	
             
 	
            THE BANK OF NEW YORK, as Indenture Trustee
 
	
             
 	
            and not in its individual capacity
 
	
             
 	
             
 
	
             
 	
             
 
	
             
 	
            /s/ Catherine L. Cerilles
 
	
             
 	
            By:       ________________________________________
 
	
             
 	
            Name:   Catherine L. Cerilles
 
	
             
 	
            Title:     Vice President
 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to the Class A(2007-6) Terms Document]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00121-of-00352.parquet"}]]