Document:

Seventh Amendment

 EXHIBIT 10.1 
  
 SEVENTH AMENDMENT TO AMENDED AND RESTATED FORBEARANCE 
 AND MODIFICATION AGREEMENT 
  
 This Seventh Amendment to Amended and Restated Forbearance and Modification Agreement (this “Amendment”) is made as of January 20, 2006 by and among World Health Alternatives, Inc., a Florida
corporation (“World Health”), Better Solutions, Inc., a Pennsylvania corporation (“BSI”), JC Nationwide, Inc. (f/k/a MedTech Medical Staffing of Boca Raton, Inc.), a Delaware corporation (“JC”), MedTech Medical Staffing
of New England, Inc., a Delaware corporation (“MedTech Medical”), MedTech Franchising, Inc., a Delaware corporation (“MedTech Franchising”), World Health Staffing, Inc., a California corporation (“World Health
California”), World Health Staffing, Inc. (f/k/a MedTech Medical Staffing of Orlando, Inc.), a Delaware corporation (“World Health Delaware”; World Health, BSI, JC, MedTech Medical, MedTech Franchising, World Health California and
World Health Delaware are referred to herein individually and collectively, as “Borrower”), and CapitalSource Finance LLC, a Delaware limited liability company (“Lender”). 
  
 RECITALS: 
  
 WHEREAS, Borrower and Lender are parties to that certain Amended and Restated
Forbearance and Modification Agreement, dated as of September 15, 2005 (as amended and modified from time to time, the “Forbearance Agreement”); and 
  
 WHEREAS, Borrower and Lender desire to amend the Forbearance Agreement as set forth herein. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
  
 1. Definitions; Recitals. All capitalized terms used but not elsewhere defined in this Amendment shall have the respective meanings ascribed
to such terms in the Forbearance Agreement, as amended hereby. The recitals set forth above are incorporated herein by this reference thereto as though fully set forth below. 
  
 2. Amendment to Section 1.4. Section 1.4 of the Forbearance Agreement is hereby amended to delete
the date “January 20, 2006” where it appears therein and insert in substitution therefor the date “February 3, 2006”. 
  
 3. Amendment to Section 2.5. Section 2.5 of the Forbearance Agreement is hereby amended in its entirety to read as follows:

  
 “2.5. In response to Borrower’s
request, Lender is willing to forebear until the Forbearance Termination Date from exercising its rights and remedies under the Loan Documents and under applicable law as a result of the existence of the Designated Defaults provided that such
forbearance is on the terms and conditions set forth in this Agreement (and, for the sake of clarity, in no event shall such forbearance extend beyond February 3, 2006) and, further provided, that such forbearance does not waive the Designated
Defaults or any other default or Event of Default that has arisen or may arise in the future or otherwise prejudice the rights and remedies of Lender.” 
  

 1 

 4. IRS, Landlords Agreements. Borrower agrees to use its best efforts to obtain, prior to
February 3, 2006, an executed agreement with the Internal Revenue Service providing for payment of all unpaid taxes in installments on terms acceptable to Lender in its Permitted Discretion. Borrower shall obtain prior to February 3, 2006,
executed Landlords Agreements as required under the Loan Documents from the lessors of the real properties listed on Exhibit B attached hereto, in form acceptable to Lender. 
  
 5. Cash Flow Forecast. The parties agree that the Cash Flow Forecast attached hereto as Exhibit A shall
constitute the Cash Flow Forecast for the period from the date of this Amendment to the Forbearance Termination Date. 
  
 6. Costs and Expenses. In consideration of the extension of the term of the forbearance, Borrower agrees to reimburse Lender for all out of
pocket costs and expenses incurred in the preparation, negotiation and execution of this Amendment and the consummation of the transactions contemplated hereby, including, without limitation, the expenses and fees of counsel for Lender. 

 
 7. Ratification of Existing Agreements. Borrower reaffirms
all of the terms, conditions, representations and warranties under the Loan Documents and the Forbearance Agreement and acknowledges that all of the Obligations are, by execution of this Amendment, ratified and confirmed in all respects by Borrower.
Borrower further reaffirms the grant of all liens and security interests under the Loan Documents and notwithstanding the execution and delivery of this Amendment, the Loan Documents and the Forbearance Agreement remain in full force and effect and
the rights and remedies of Lender thereunder and the liens and security interests created and provided thereunder remain in full force and effect and shall not be affected or impaired hereby. 
  
 8. No Waiver by Lender. Lender shall not be deemed to have
waived any or all of its rights or remedies with respect to any default or event or condition which, with notice or the lapse of time, or both, would become a default under the Loan Documents and which upon Borrower’s execution and delivery of
this Amendment might otherwise exist or which might hereafter occur. The failure of Lender at any time or times hereafter to require strict performance by Borrower of any of the provisions, warranties, terms and conditions contained herein, in the
Forbearance Agreement or in the Loan Documents shall not waive, affect or diminish any right of Lender at any time or times thereafter to demand strict performance thereof; and, no rights of Lender hereunder shall be deemed to have been waived by
any act or knowledge of Lender, its agents, officers or employees, unless such waiver is contained in an instrument in writing signed by an authorized officer of Lender and directed to such Person specifying such waiver. No waiver by Lender of any
of its rights shall operate as a waiver of any other of its rights or any of its rights on a future occasion at any time and from time to time. All terms and conditions of the Loan Documents remain in full force and effect, except to the extent
specifically modified by the Forbearance Agreement. 
  
 9.
Severability. If any term or provision of this Amendment or the application thereof to any party or circumstance shall be held to be invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, the validity,
legality and enforceability of the remaining terms and provisions of this Amendment shall not in any way be affected or impaired thereby, and the affected term or provision shall be modified to the minimum extent permitted by law so as most fully to
achieve the intention of this Amendment. 
  
 10. Conditions
Precedent. This Amendment shall become effective upon satisfaction of each of the following conditions, which, in each case, are in form and substance satisfactory to Lender in its sole and absolute discretion and such satisfaction shall be
evidenced by a written confirmation of same by Lender 
  

 2 

 to Borrower: (a) Except as expressly set forth in the Forbearance Agreement and herein, the representations and
warranties of Borrower set forth in the Credit Agreement and the other Loan Documents shall be true and correct in all material respects; (b) Except as expressly set forth in the Forbearance Agreement and herein, no Event of Default or
Termination Event shall have occurred and be continuing; and (c) the following shall have been delivered to Lender, each duly authorized and executed and in form and substance satisfactory to Lender: (i) this Amendment, and (ii) such
other instruments, documents, certificates, consents, waivers and opinions as Lender reasonably may request. The date on which all of the conditions set forth in this Section 10 have been satisfied (or waived by Lender) is referred to herein as
the “Effective Date.” 
  
 11.
Representations and Warranties. Each Borrower hereby represents and warrants that: (a) such Borrower is duly organized, validly existing and in legal good standing in the jurisdiction of incorporation or formation of such Borrower
and that such Borrower has the power and authority to enter into this Amendment; (b) such Borrower has duly executed and delivered this Amendment and this Amendment constitutes the valid, binding and legal obligation of each such Borrower;
(c) this Amendment is not being entered into by such Borrower with the intent to hinder or defraud any person; and (d) the recitals set forth in this Amendment are true, accurate and complete. 
  
 12. Release of Claims. Borrower hereby represents and warrants
that there are no liabilities, claims, suits, debts, losses, causes of action, demands, rights, damages, costs or expenses of any kind, character or nature whatsoever, known or unknown, fixed or contingent (collectively, the “Claims”),
which Borrower may have or claim to have against Lender or any of its affiliates, agents, employees, officers, directors, representatives, attorneys, successors, or assigns (collectively, the “Lender Released Parties”), which might arise
out of or be connected with any act of commission or omission of the Lender Released Parties existing or occurring on or prior to the date of this Amendment, including without limitation any Claims arising with respect to the Forbearance Agreement,
Credit Agreement or any Loan Documents. Borrower hereby releases, acquits, and forever discharges the Lender Released Parties from any and all Claims that Borrower may have or claim to have, relating to or arising out of or in connection with this
Amendment, the Forbearance Agreement, the Credit Agreement or any Loan Documents or any other agreement or transaction contemplated thereby or any action taken in connection therewith from the beginning of time up to and including the Effective Date
of this Amendment. Borrower further agrees forever to refrain from commencing, instituting, or prosecuting any lawsuit, action, or other proceeding against any Lender Released Parties with respect to any and all Claims. 
  
 13. WAIVER OF JURY TRIAL. EACH PARTY TO THIS AMENDMENT
KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT IT MAY HAVE OR HEREAFTER HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT OR THE UNDERLYING TRANSACTIONS. EACH BORROWER
CERTIFIES THAT NEITHER THE LENDER NOR ANY OF ITS REPRESENTATIVES, AGENTS OR COUNSEL HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE LENDER WOULD NOT IN THE EVENT OF ANY SUCH SUIT, SEEK TO ENFORCE THIS WAIVER OF RIGHT TO TRIAL BY JURY. 

 
 14. No Third-Party Beneficiaries. There are no third-party
beneficiaries to this Amendment or to the Forbearance Agreement. 
  
 15. Counterparts. This Amendment may be executed in multiple counterparts (which counterparts may be delivered by means of facsimile transmission or comparable electronic transmission), each of which shall be an original and
all of which taken together shall constitute one and the same agreement. 
  

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 16. Governing Law. This Amendment shall be in all respects interpreted according to the
laws of the State of Maryland, without reference to the State of Maryland’s conflicts of law principles. 
  
 17. Descriptive Headings. The descriptive headings of this Amendment are inserted for convenience only and do not constitute a part of this
Amendment. 
  
 18. Limited Amendment. This Amendment
is limited by its terms and does not and shall not serve to amend or waive any provision of the Forbearance Agreement except as expressly provided for in this Amendment. 
  
 19. Acknowledgment/Waiver of Legal Counsel; Drafting of Agreement. Borrower represents and warrants that:
(a) it is represented by legal counsel of its choice, is fully aware of the terms contained in this Amendment and has voluntarily and without coercion or duress of any kind, entered into this Amendment and the documents executed in connection
with this Amendment; or (b) it has knowingly and intentionally waived its right to have legal counsel of their choice review and represent it with respect to the negotiation and preparation of this Amendment. Borrower further represents and
warrants and acknowledges and agrees that it has participated in the drafting of this Amendment. 
  
 20. Agreement Controls. In the event of any inconsistency between this Amendment and the Loan Documents or the Forbearance Agreement, the
terms of this Amendment shall control. 
  
 [rest of page
intentionally left blank; signature page follows] 
  

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 IN WITNESS WHEREOF, the parties have executed this Amendment by their duly authorized officers as of the
day and year first written above. 
  

									
	CAPITALSOURCE FINANCE LLC,	 	 	 	WORLD HEALTH STAFFING, INC.,
	a Delaware limited liability company	 	 	 	a Delaware corporation
					
	By:	 	 /s/ Keith D. Reuben

	 	 	 	By:	 	 /s/ M. Benjamin Jones

	Name:	 	Keith D. Reuben	 	 	 	Name:	 	M. Benjamin Jones
	Title:	 	Managing Director	 	 	 	Title:	 	President/Restructuring Officer
				
	 WORLD HEALTH ALTERNATIVES, INC.,
 a Florida
corporation
	 	 	 	 	 	 
					
	By:	 	 /s/ M. Benjamin Jones

	 	 	 	 	 	 
	Name:	 	M. Benjamin Jones	 	 	 	 	 	 
	Title:	 	President/Restructuring Officer	 	 	 	 	 	 
				
	 BETTER SOLUTIONS, INC.,
 a Pennsylvania
corporation
	 	 	 	 	 	 
					
	By:	 	 /s/ M. Benjamin Jones

	 	 	 	 	 	 
	Name:	 	M. Benjamin Jones	 	 	 	 	 	 
	Title:	 	President/Restructuring Officer	 	 	 	 	 	 
				
	 JC NATIONWIDE, INC.,
 a Delaware
corporation
	 	 	 	 	 	 
					
	By:	 	 /s/ M. Benjamin Jones

	 	 	 	 	 	 
	Name:	 	M. Benjamin Jones	 	 	 	 	 	 
	Title:	 	President/Restructuring Officer	 	 	 	 	 	 
				
	 MEDTECH MEDICAL STAFFING OF
 NEW ENGLAND,
INC.,
 a Delaware corporation
	 	 	 	 	 	 
					
	By:	 	 /s/ M. Benjamin Jones

	 	 	 	 	 	 
	Name:	 	M. Benjamin Jones	 	 	 	 	 	 
	Title:	 	President/Restructuring Officer	 	 	 	 	 	 
				
	 MEDTECH FRANCHISING, INC.,
 a Delaware
corporation
	 	 	 	 	 	 
					
	By:	 	 /s/ M. Benjamin Jones

	 	 	 	 	 	 
	Name:	 	M. Benjamin Jones	 	 	 	 	 	 
	Title:	 	President/Restructuring Officer	 	 	 	 	 	 
				
	 WORLD HEALTH STAFFING, INC.,
 a California
corporation
	 	 	 	 	 	 
					
	By:	 	 /s/ M. Benjamin Jones

	 	 	 	 	 	 
	Name:	 	M. Benjamin Jones	 	 	 	 	 	 
	Title:	 	President/Restructuring OfficerClass C(2006-1) Terms Document, dated as of January 26, 2006

 Exhibit 4.1 
  
 CHASE ISSUANCE TRUST 
 as Issuer 
  
 CLASS
C(2006-1) TERMS DOCUMENT 
 dated as of January 26, 2006 
  
 to 
  
 AMENDED AND RESTATED 
 CHASESERIES
INDENTURE SUPPLEMENT 
 dated as of October 15, 2004 
  
 to 
  
 AMENDED AND RESTATED 
 INDENTURE

  
 dated as of October 15, 2004 
  
 WELLS FARGO BANK, NATIONAL ASSOCIATION 
 as Indenture Trustee and Collateral Agent 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	PAGE

	ARTICLE I Definitions and Other Provisions of General Application	  	 
			
	Section 1.01	  	Definitions	  	1
	Section 1.02	  	Governing Law	  	4
	Section 1.03	  	Counterparts	  	4
	Section 1.04	  	Ratification of Indenture and Indenture Supplement	  	4
		
	ARTICLE II The Class C(2006-1) Notes	  	 
			
	Section 2.01	  	Creation and Designation	  	6
	Section 2.02	  	Interest Payment	  	6
	Section 2.03	  	Calculation Agent; Determination of LIBOR	  	6
	Section 2.04	  	Payments of Interest and Principal	  	7
	Section 2.05	  	Targeted Amount to be on Deposit in the Class C Reserve Sub-Account	  	7
	Section 2.06	  	Form of Delivery of Class C(2006-1) Notes; Depository; Denominations	  	8
	Section 2.07	  	Delivery and Payment for the Class C(2006-1) Notes	  	9
		
	ARTICLE III Restrictions on Transfer of the Class C(2006-1) Notes	  	 
			
	Section 3.01	  	Private Placement of the Class C(2006-1) Notes	  	10
	Section 3.02	  	Purchase and Transfer of the Class C(2006-1) Notes	  	10
		
	ARTICLE IV Miscellaneous Provisions	  	 
			
	Section 4.01	  	Amendments	  	12
	Section 4.02	  	Ratings Effect	  	12
			
	EXHIBITS	  	 	  	 
			
	Exhibit A	  	Form of Investment Letter	  	 
	Exhibit B	  	Form of Class C Note	  	 

 THIS CLASS C(2006-1) TERMS DOCUMENT (this “Terms Document”), by and between the CHASE ISSUANCE
TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at c/o Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-1600, and WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as indenture trustee (the “Indenture Trustee”) and collateral agent (the “Collateral Agent”), is made and entered into as of January 26, 2006. 
  
 Pursuant to this Terms Document, the Issuer and the Indenture Trustee shall
create a new Tranche of CHASEseries Class C 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: 
  
 (1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as
the singular; 
  
 (2) all other terms used herein which are
defined in the Indenture Supplement, the Indenture or the Asset Pool Supplement, either directly or by reference therein, have the meanings assigned to them therein; 
  
 (3) as used in this Terms Document and in any certificate or other document made or delivered pursuant hereto or thereto,
accounting terms not defined in this Terms Document or in any such certificate or other document, and accounting terms partly defined in this Terms Document or in any such certificate or other document to the extent not defined, shall have the
respective meanings given to them under GAAP. To the extent that the definitions of accounting terms in this Terms Document or in any such certificate or other document are inconsistent with the meanings of such terms under GAAP, the definitions
contained in this Terms Document or in any such certificate or other document shall control; 
  
 (4) the words “hereof,” “herein,” “hereunder” and words of similar import when used in this Terms Document shall refer to this Terms Document as a whole and not to any particular
provision of this Terms Document; references to any subsection, Section, clause, Schedule or Exhibit are references to subsections, Sections, clauses, Schedules and Exhibits in or to this Terms Document unless otherwise specified; the term
“including” means “including without limitation”; references to any law or regulation refer to that law or regulation as amended from time to time and include any successor law or regulation; references to any Person include that
Person’s successors and assigns; and references to any agreement refer to such agreement, as amended, supplemented or otherwise modified from time to time; 

 (5) 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, the Indenture or the Asset Pool Supplement, the terms and provisions of this Terms Document shall be controlling; and 
  
 (6) each capitalized term defined herein shall relate only to the Class C(2006-1) Notes and no other Tranche of CHASEseries
Notes issued by the Issuer. 
  
 “Asset Pool
Supplement” means the Amended and Restated Asset Pool One Supplement to the Indenture, dated as of October 15, 2004, as amended by the First Amendment thereto, dated as of May 10, 2005, by and among the Issuer, the Indenture
Trustee and the Collateral Agent. 
  
 “Bank”
means Chase Bank USA, National Association. 
  
 “Beneficiary” means Chase Bank USA, National Association, in its capacity as beneficial owner of the Issuer. 
  
 “Calculation Agent” is defined in Section 2.04(a). 
  
 “Class C Reserve Account Percentage” means, for any Monthly Period, (i) zero, if the Quarterly Excess
Spread Percentage for such Monthly Period is greater than or equal to 4.50%, (ii) 1.25%, if the Quarterly Excess Spread Percentage for such Monthly Period is less than 4.50% and greater than or equal to 4.00%, (iii) 1.75%, if the Quarterly
Excess Spread Percentage for such Monthly Period is less than 4.00% and greater than or equal to 3.50%, (iv) 2.75%, if the Quarterly Excess Spread Percentage is less than 3.50% and greater than or equal to 3.00%, (v) 4.00%, if the
Quarterly Excess Spread Percentage for such Monthly Period is less than 3.00% and greater than or equal to 2.50%, (vi) 5.00%, if the Quarterly Excess Spread Percentage is less than 2.50% and greater than or equal to 2.00%, (vii) 6.00%, if
the Quarterly Excess Spread Percentage for such Monthly Period is less than 2.00% and greater than or equal to 0.00% and (viii) 6.75%, if the Quarterly Excess Spread Percentage for such Monthly Period is less than 0.00%. 
  
 “Class C(2006-1) Note” means any Note, substantially in the
form set forth in Exhibit A-1 to the Indenture Supplement, designated therein as a Class C(2006-1) Note and duly executed and authenticated in accordance with the Indenture. 
  
 “Class C(2006-1) Noteholder” means a Person in whose name a Class C(2006-1) Note is registered in the Note
Register. 
  
 “Class C(2006-1) Termination Date”
means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class C(2006-1) 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 V thereof. 
  
 “Controlled Accumulation Amount” means $20,833,333.34; provided, however, if the Accumulation Period Length is determined to be less than twelve months 
  

 2 

 pursuant to Section 3.12(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount for any Note
Transfer Date with respect to the Class C(2005-3) Notes will be the amount specified in the definition of “Controlled Accumulation Amount” in the Indenture Supplement. 
  
 “Eligible Purchaser” means a corporation, partnership or other entity which can make the representations
set forth in Section 3.02 hereof and the Investment Letter attached as Exhibit A hereto and that is a QIB and an “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act.

  
 “Indenture” means the Amended and Restated
Indenture, dated as of October 15, 2004, between the Issuer and the Indenture Trustee. 
  
 “Indenture Supplement” means the Amended and Restated CHASEseries Indenture Supplement, dated as of October 15, 2004, among the Issuer, the Indenture Trustee and the Collateral Agent. 

 
 “Initial Dollar Principal Amount” means $250,000,000.

  
 “Interest Payment Date” means
February 15, 2006 and the 15th day of each month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 
  
 “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) to but excluding such Interest Payment Date. 
  
 “Issuance Date” means January 26, 2006. 
  
 “Legal Maturity Date” means March 16, 2015. 
  

“LIBOR” means, for any Interest Period, the London interbank offered rate for one-month United States dollar deposits determined by
the Trustee on the LIBOR Determination Date for each Interest Period in accordance with the provisions of Section 2.04. 
  
 “LIBOR Determination Date” means (1) January 24, 2006 for the period from and including the Issuance Date through but excluding
February 15, 2006 and (2) for each interest period thereafter, the second London Business Day prior to the commencement of the second and each subsequent Interest Period. 
  
 “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 rate per annum equal to 0.40% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
  

 3 

 “Note Purchase Agreement” means the Note Purchase Agreement, dated as of
January 26, 2006, among the parties named therein. 
  
 “Paying Agent” means Wells Fargo Bank, National Association. 
  
 “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 3.06 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. 

 
 “QIB” means a “qualified institutional buyer,”
as defined in Rule 144A under the Securities Act. 
  
 “Quarterly Excess Spread Percentage” means, for each Determination Date, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding
three Monthly Periods and the denominator of which is three. 
  
 “Record Date” means, for any Note 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. 
  
 “Scheduled Principal Payment Date” means January 15,
2013. 
  
 “Stated Principal Amount” means
$250,000,000. 
  
 “Telerate Page 3750” means the
display page currently so designated on the Bridge Telerate Market Report (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices). 
  
 Section 1.02 Governing Law. THIS TERMS DOCUMENT WILL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH
LAWS. 
  
 Section 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, the Asset Pool Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so 
  

 4 

 supplemented by the Asset Pool Supplement and the Indenture Supplement as so supplemented by this Terms Document shall be
read, taken and construed as one and the same instrument. 
  
 [END
OF ARTICLE I] 
  

 5 

 ARTICLE II 
  
 The Class C(2006-1) Notes 
  
 Section 2.01 Creation and Designation. There is hereby created a Tranche of CHASEseries Class C Notes to be issued pursuant to the Indenture
and the Indenture Supplement to be known as the “CHASEseries Class C(2006-1) Notes.” 
  
 Section 2.02 Interest Payment. 
  
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class C(2006-1) 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
C(2006-1) Notes determined as of the close of business on the Interest Payment Date preceding the related Note Transfer Date for the Class C(2006-1) Notes; provided, however, that for the first Interest Payment Date, the amount of
interest due with respect to the Class C(2006-1) Notes shall be an amount equal to the product of (x) the Outstanding Dollar Principal Amount of the Class C(2006-1) Notes on the Issuance Date, (y) 20 divided by 360 and (z) the Note
Interest Rate in effect with respect to the Class C(2006-1) Notes determined on January 24, 2006. Interest on the Class C(2006-1) Notes will be calculated on the basis of the actual number of days elapsed and a 360-day year. 
  
 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Note
Transfer Date with respect to the Class C(2006-1) Notes, the Indenture Trustee shall deposit into the Class C(2006-1) Interest Funding Sub-Account the portion of CHASEseries Available Finance Charge Collections allocable to the Class C(2006-1)
Notes. 
  
 Section 2.03 Calculation Agent; Determination
of LIBOR. 
  
 (a) The Issuer hereby agrees that for so long
as any Class C(2006-1) 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. 
  

 6 

 (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 Telerate Page 3750 or on such comparable system as is customarily used to quote LIBOR as of 11:00 a.m., London time, on such date. If such rate does not appear on
Telerate Page 3750 or on a comparable system as is customarily used to quote LIBOR 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 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 (612) 667-8058 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 and the Beneficiary, by facsimile transmission, notification of LIBOR for the following Interest Period. 
  
 Section 2.04 Payments of Interest and Principal. 
  
 (a) Any installment of interest or principal payable on any Class C(2006-1)
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 C(2006-1) 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. 
  
 (b) The right of the Class C(2006-1) Noteholders
to receive payments from the Issuer will terminate on the first Business Day following the Class C(2006-1) Termination Date. 
  
 Section 2.05 Targeted Amount to be on Deposit in the Class C Reserve Sub-Account. The amount targeted, with respect to any Monthly Period, to
be on deposit in the Class C Reserve Sub-Account for the Class C(2006-1) Notes on the Note Transfer 
  

 7 

 Date in the immediately succeeding Monthly Period, will, on the issuance date, be zero and, thereafter, will be an amount
equal to the product of (A) the Class C Reserve Account Percentage for such Monthly Period times (B) the Initial Outstanding Dollar Principal Amount of the CHASEseries Notes (exclusive of (x) any Class or Tranche of CHASEseries Notes
which will be paid in full on the applicable Payment Date for such Class or Tranche of CHASEseries Notes in the immediately succeeding Monthly Period and (y) any Class or Tranche of CHASEseries Notes which will have a Nominal Liquidation Amount
of zero on the applicable Payment Date for such Class or Tranche of CHASEseries Notes in the immediately succeeding Monthly Period) times (C) a fraction, the numerator of which is the Nominal Liquidation Amount of the Class C(2006-1) Notes as
of the close of business on the last day of such Monthly Period (exclusive of the amount deposited with respect to the Targeted Principal Deposit Amount on the applicable Note Transfer Date for such Tranche of CHASEseries Class C Notes in the next
succeeding Monthly Period) and the denominator of which is the Nominal Liquidation Amount of all Class C Notes in the CHASEseries as of the close of business on the last day of such Monthly Period (exclusive of the amount deposited with respect to
the Targeted Principal Deposit Amount on the applicable Note Transfer Date for all Tranches of CHASEseries Class C Notes in the next succeeding Monthly Period); provided however, that if an Early Redemption Event or Event of Default occurs with
respect to the Class C(2006-1) Notes, the amount targeted to be on deposit will be the Initial Outstanding Dollar Principal Amount of the Class C(2006-1) notes. 
  

The Issuer may change the percentage and methodology set forth above for calculating the amount targeted to be on deposit in the Class C Reserve
Sub-Account for the Class C(2006-1) Notes 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 Class C (2006-1) Notes that the change in
such percentage or formula will not result in a Ratings Effect with respect to any Outstanding Class C(2006-1) Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion.

  
 Section 2.06 Form of Delivery of Class C(2006-1)
Notes; Depository; Denominations. 
  
 (a) The Class
C(2006-1) Notes shall be issued in definitive, fully registered, certificated form and registered in the name of the beneficial owner thereof as listed in the Note Register. The Class C(2006-1) Notes shall be word processed, printed, lithographed or
engraved or produced by any combination of these methods, all as determined by the Authorized Officer executing such Class C(2006-1) Notes, as evidenced by its execution of such Class C(2006-1) Notes. 
  
 (b) The Class C(2006-1) Notes shall initially be registered in the names set
forth on Schedule 2 of the Note Purchase Agreement. 
  
 (c) The
Class C(2006-1) Notes will be issued in minimum denominations of $250,000 and integral multiples of $1,000 in excess thereof. 
  

 8 

 Section 2.07 Delivery and Payment for the Class C(2006-1) Notes. The Issuer shall execute and
deliver the Class C(2006-1) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class C(2006-1) Notes when authenticated, each in accordance with Section 3.03 of the Indenture. 
  
 [END OF ARTICLE II] 
  

 9 

 ARTICLE III 
  
 Restrictions on Transfer of the Class C(2006-1) Notes 
  
 Section 3.01 Private Placement of the Class C(2006-1) Notes. The Class C(2006-1) Notes have not been registered under the Securities Act, or
any state securities law. No transfer of any Class C(2006-1) Note shall be made except (A) to an Eligible Purchaser and (B) (x) in accordance with the terms of the Note Purchase Agreement and (y) either (i) pursuant to an
effective registration under the Securities Act and applicable state securities or “blue sky” laws or (ii) in a transaction exempt from the registration requirements of the Securities Act and applicable state securities or “blue
sky” laws. The Class C(2006-1) Notes shall bear legends to the effect set forth in subsection (b) below. None of the Issuer, the Transfer Agent and Note Registrar, the Owner Trustee or the Indenture Trustee is obligated to register the
Class C(2006-1) Notes under the Securities Act or any other securities or “blue sky” law or to take any other action not otherwise required under this Terms Document, the Indenture, the Indenture Supplement, the Asset Pool Supplement or
the Transfer and Servicing Agreement to permit the transfer of Class C(2006-1) Notes without registration or as described above. 
  
 (a) Each Class C(2006-1) Note shall bear a restrictive legend to the following effect: 
  
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES
ACT AND OTHER APPLICABLE PROVISIONS OF ANY STATE BLUE SKY OR SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM SUCH PROVISIONS. 
  
 (b) In the event that registration of a transfer is to be made in reliance upon an exemption from the registration requirements under the Securities Act,
the transferor or the transferee will deliver, at its expense, to the Issuer and the Indenture Trustee, an investment letter from the transferee, substantially in the form of the investment letter attached hereto as Exhibit A (an “Investment
Letter”) or such other form as the Issuer may determine, and no registration of transfer will be made until such letter is so delivered. 
  
 Section 3.02 Purchase and Transfer of the Class C(2006-1) Notes. Each Eligible Purchaser who becomes a Holder of a Class C(2006-1) Note will
be required to provide to the Bank, the Issuer and the Indenture Trustee an Investment Letter in which it shall represent and agree as follows: 
  
 (a) It understands that the offering and sale of the Class C(2006-1) Notes has not been and will not be registered under the Securities Act of 1933, as
amended (the “Securities Act”) and has not and will not be registered or qualified under any applicable “blue sky” law, and that the offering and sale of the Class C(2006-1) Notes has not been reviewed by, passed on or submitted
to any federal or state agency or commission, securities exchange or other regulatory body. 
  

 10 

 (b) It understands that the Class C(2006-1) Notes are being sold to it in a transaction that is exempt
from the registration requirements of the Securities Act. 
  
 (c)
It is an “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and a QIB. 
  
 (d) Any information it desires concerning the Class C(2006-1) Notes or any other matter relevant to its decision to purchase the Class C(2006-1) Notes is
or has been made available to it. 
  
 (e) It has such knowledge
and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Class C(2006-1) Notes, and it (and any account for which it is purchasing under paragraph (f) below) is able to bear
the economic risk of an investment in the Class C(2006-1) Notes. 
  
 (f) It is acquiring the Class C(2006-1) Notes for its own account or for accounts as to which it exercises sole investment discretion and not with a view to any distribution of the Class C(2006-1) Notes, subject, nevertheless, to the
understanding that the disposition of its property shall at all times be and remain within its control. 
  
 (g) It agrees that the Class C(2006-1) Notes must be held indefinitely by it unless subsequently registered under the Securities Act or an exemption from
any registration requirements of the Securities Act and any applicable state securities law is available. It acknowledges that no representation is made as to the availability of any exemption under the Securities Act or any state securities laws
for resale of the Class C(2006-1) Notes. 
  
 (h) It agrees that
in the event that at some future time it wishes to dispose of or exchange any of the Class C(2006-1) Notes (such disposition or exchange not being currently foreseen or contemplated), it will not transfer or exchange any of the Class C(2006-1) Notes
unless: 
  
 (i) it has obtained the prior written consent of the
Bank (which consent shall not be unreasonably withheld) to any proposed transfer to a purchaser that is an Eligible Purchaser; provided, that such consent shall not be required in connection with the transfer of the Class C(2006-1) Notes in
accordance with Section 11 of the Note Purchase Agreement; 
  

 11 

 (ii) a letter substantially in the form of the Investment Letter attached hereto as Exhibit A is executed
promptly by the purchaser; and 
  
 (iii) all offers or
solicitations in connection with the sale, whether directly or through any agent acting on its behalf, are limited only to an Eligible Purchaser and are not made by means of any form of general solicitation or general advertising whatsoever; and

  
 (iv) the Class C(2006-1) Notes are transferred pursuant to an
exemption from the registration requirements of the Securities Act. 
  
 (i) It acknowledges that its intent, and it understands it is the intent of the Issuer, that, for purposes of U.S. federal income, state and local income and franchise tax and any other income taxes, the Class C(2006-1) Notes will be
treated as indebtedness of Chase Bank USA, National Association; it agrees to such treatment and agrees to take no action inconsistent with such treatment. 
  
 [END OF ARTICLE III] 
  
 ARTICLE IV 
  
 Miscellaneous Provisions 
  
 Section 4.01
Amendments. Notwithstanding anything to the contrary contained herein, each Class C(2006-1) Note and this Terms Document may be amended or supplemented to modify the restrictions on and procedures for resale and other transfers of the Class
C(2006-1) Notes to reflect any change in applicable law or regulation (or the interpretation thereof) or in practices relating to the resale or transfer of restricted securities generally. Each Noteholder shall by its acceptance of such Class
C(2006-1) Note, have agreed to any such amendment or supplement. 
  
 Section 4.02 Ratings Effect. Any action by the Issuer under the Indenture, the Indenture Supplement, the Asset Pool One Supplement, the Transfer and Servicing Agreement or this Terms Document which requires the prior written
confirmation from any Rating Agency that such action will not result in a Ratings Effect or fail to satisfy the Note Rating Agency Condition shall not be effective with respect to the Class C(2006-1) Notes unless all Note Rating Agencies that have
provided a rating with respect to any other Outstanding tranche of Class C Notes of the CHASEseries have confirmed in writing that such action will not result in a Ratings Effect with respect to another Outstanding tranche of Class C Notes of the
CHASEseries (or, if the Class C(2006-1) Notes have been rated, unless each Note Rating Agency that has rated the Class C(2006-1) Notes has confirmed in writing that such action will not result in a Ratings Effect with respect to any Outstanding
Class C(2006-1) Notes). 
  
 [END OF ARTICLE IV] 
  

 12 

 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. 
  

			
	CHASE ISSUANCE TRUST
		
	By:	 	 CHASE BANK USA, NATIONAL
 ASSOCIATION,

	 	 	 as Beneficiary and not in its
 individual
capacity

		
	By:	 	 /s/ Keith Schuck

	Name:	 	Keith Schuck
	Title:	 	President
	
	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as
Indenture Trustee and
 Collateral Agent

		
	By:	 	 /s/ Cheryl Zimmerman

	Name:	 	Cheryl Zimmerman
	Title:	 	Assistant Vice President

 EXHIBIT A 
  
 FORM OF INVESTMENT LETTER 
  
 [Date] 
  
 Wells Fargo Bank, 
   National Association, 
 as Indenture Trustee, 
 Sixth & Marquette 
 MAC N9311-161 
 Minneapolis, Minnesota 55479 
 Attention: Corporate Trust Services Asset Backed Administration 
 (the “Indenture Trustee”) 
  
 Chase Issuance Trust 
 c/o Chase Bank USA, National Association, as Beneficiary 
 201 North Walnut Street

 Wilmington, Delaware 19801 
 (the “Trust”) 
 Attention: Patricia Garvey 
 Fax: (302) 282-6605 
  

			
	Re:	  	Purchase of $                     principal amount of Chase Issuance Trust, Class
C(2006-1) Notes (the “Class C(2006-1) Notes”)

  
 Ladies and Gentlemen: 
  
 The undersigned (the
“Purchaser”), in connection with the purchase of the Class C(2006-1) Notes, represents to and agrees with Chase Bank USA, National Association (the “Bank”) as follows: 
  

	1.	The Purchaser understands that the offering and sale of the Class C(2006-1) Notes has not been and will not be registered under the Securities Act of 1933, as amended (the
“Securities Act”) and has not and will not be registered or qualified under any applicable “blue sky” law, and that the offering and sale of the Class C(2006-1) Notes has not been reviewed by, passed on or submitted to any
federal or state agency or commission, securities exchange or other regulatory body. 

  

	2.	The Purchaser understands that the Class C(2006-1) Notes are being sold to it in a transaction that is exempt from the registration requirements of the Securities Act.

  

	3.	The Purchaser is an “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and a “qualified institutional
buyer” as defined in Rule 144A under the Securities Act ( a “QIB”). 

  

 A-1 

	4.	Any information the Purchaser desires concerning the Class C(2006-1) Notes or any other matter relevant to its decision to purchase the Class C(2006-1) Notes is or has been made
available to it. 

  

	5.	The Purchaser has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Class C(2006-1) Notes,
and it (and any account for which it is purchasing under paragraph (6) below) is able to bear the economic risk of an investment in the Class C(2006-1) Notes. 

  

	6.	The Purchaser is acquiring the Class C(2006-1) Notes for its own account or for accounts as to which it exercises sole investment discretion and not with a view to any distribution
of the Class C(2006-1) Notes, subject, nevertheless, to the understanding that the disposition of its property shall at all times be and remain within its control. 

  

	7.	The Purchaser agrees that the Class C(2006-1) Notes must be held indefinitely by it unless subsequently registered under the Securities Act or an exemption from any registration
requirements of the Securities Act and any applicable state securities law is available. The Purchaser acknowledges that no representation is made as to the availability of any exemption under the Securities Act or any state securities laws for
resale of the Class C(2006-1) Notes. 

  

	8.	The Purchaser agrees that in the event that at some future time it wishes to dispose of or exchange any of the Class C(2006-1) Notes (such disposition or exchange not being
currently foreseen or contemplated), it will not transfer or exchange any of the Class C(2006-1) Notes and no such transfer or exchange shall be effective unless: 

  
 (a) the Purchaser has obtained the prior written consent of the Bank to any proposed transfer; provided, that such
consent shall not be required in connection with the transfer of the Class C(2006-1) Notes in accordance with Section 11 of the Note Purchase Agreement, dated as of January 26, 2006, among the parties named therein; 
  
 (b) a letter substantially in the form of the Investment Letter attached
hereto as Exhibit A is executed promptly by the purchaser and delivered to the Bank; 
  
 (c) all offers or solicitations in connection with the sale, whether directly or through any agent acting on it’s behalf, are limited only to an Eligible Purchaser and are not made by means of any form of general
solicitation or general advertising whatsoever; and 
  
 (d) the
Class C(2006-1) Notes are transferred pursuant to an exemption from the registration requirements of the Securities Act. 
  

 A-2 

	9.	The Purchaser understands that the Issuer may demand that any holder of a Class C(2006-1) Note who is determined not to be a QIB at the time of acquisition of such Class C(2006-1)
Notes sell the Class C(2006-1) Notes to a Person who is a QIB and, if the holder does not comply with such demand within 30 days thereof, the Issuer may sell such holder’s interest in the Class C(2006-1) Note. 

  

	10.	This Investment Letter has been duly executed and delivered and constitutes the legal, valid and binding obligation of the Purchaser, enforceable against it in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable principles affecting the enforcement of creditors’ rights generally and general principles of equity.

  

	11.	The Purchaser acknowledges its intent, and it understands it is the intent of the Issuer, that, for purposes of U.S. federal income, state and local income and franchise tax and any
other income taxes, the Class C(2006-1) Notes will be treated as indebtedness of the Bank; it agrees to such treatment and agrees to take no action inconsistent with such treatment. 

  

	12.	The Purchaser agrees (for the benefit of the Trust, the Indenture Trustee and the Bank) to comply with all applicable U.S. laws and regulations with regard to withholding tax
exemptions and to provide a duly completed copy of a U.S. Internal Revenue Service Form W-9 (or any successor form and agrees to furnish a new Form W-9, or any successor applicable form, upon the expiration or obsolescence of any previously
delivered form) and such other forms and information as reasonably may be requested by the Bank or the Indenture Trustee to confirm the availability of any applicable exemption from U.S. federal withholding taxes. 

  

	13.	The Purchaser understands that the Class C(2006-1) Notes will bear a legend to substantially the following effect: 

  
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED
ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE PROVISIONS OF ANY STATE BLUE SKY OR SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM SUCH PROVISIONS. 
  
 This legend may be removed if the Issuer, the Indenture Trustee and the Note Registrar have received an opinion of counsel,
in form and substance satisfactory to them, to the effect that the legend may be removed. 
  

 A-3 

	14.	The Purchaser understands that the Bank, the Issuer and the Indenture Trustee and their counsel will rely upon the accuracy and truth of the foregoing representations, and hereby
consents to such reliance. 

  
 “Eligible
Purchaser” means a corporation, partnership or other entity which can make the representations set forth herein and that is a QIB and an “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the
Securities Act. 
  

			
	Very truly yours,
	
	  

	(Name of Purchaser)
		
	By:	 	  

	 	 	(Authorized officer)

  

 A-4 

 EXHIBIT B 
  
 FORM OF CLASS C NOTE 
  
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAW. THE HOLDER
HEREOF, BY PURCHASING THIS NOTE, AGREES THAT THIS NOTE, OR ANY INTEREST OR PARTICIPATION HEREIN, MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE PROVISIONS OF ANY STATE BLUE
SKY OR SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM SUCH PROVISIONS. 
  
 THIS NOTE IS SUBJECT TO ADDITIONAL RESTRICTIONS ON RESALE OR TRANSFER SET FORTH IN THE CLASS C(2006-1) TERMS DOCUMENT (AS HEREINAFTER DEFINED). THIS NOTE MAY NOT BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT THE PRIOR
WRITTEN CONSENT OF CHASE BANK USA, NATIONAL ASSOCIATION AND UNLESS AND UNTIL THE INDENTURE TRUSTEE AND CHASE ISSUANCE TRUST SHALL HAVE RECEIVED AN EXECUTED INVESTMENT LETTER. 
  
 PRIOR TO PURCHASING ANY NOTES, PURCHASERS SHOULD CONSULT COUNSEL WITH RESPECT TO THE AVAILABILITY AND CONDITIONS OF EXEMPTION FROM THE
RESTRICTIONS ON RESALE OR TRANSFER. THE TRANSFEROR HAS NOT AGREED TO REGISTER THE NOTES UNDER THE SECURITIES ACT, TO QUALIFY THE NOTES UNDER THE SECURITIES LAWS OF ANY STATE OR TO PROVIDE REGISTRATION RIGHTS TO ANY PURCHASER. 
  
 AS SET FORTH HEREIN, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
  
 THE HOLDER OF THIS NOTE BY ITS
ACCEPTANCE HEREOF COVENANTS AND AGREES THAT IT WILL NOT AT ANY TIME INSTITUTE AGAINST THE CHASE ISSUANCE TRUST, CHASE BANK USA, NATIONAL ASSOCIATION, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, OR JOIN IN ANY
INSTITUTION AGAINST THE CHASE ISSUANCE TRUST, CHASE BANK USA, NATIONAL ASSOCIATION, THE FIRST USA CREDIT CARD MASTER TRUST OR THE CHASE CREDIT CARD MASTER TRUST, IN, ANY BANKRUPTCY PROCEEDINGS UNDER ANY UNITED STATES FEDERAL OR STATE BANKRUPTCY OR
SIMILAR LAW IN CONNECTION WITH ANY OBLIGATIONS RELATING TO THE NOTES OR THE INDENTURE. 
  

 B-1 

 THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE, AND EACH HOLDER OF A BENEFICIAL INTEREST IN THIS NOTE, BY THE
ACQUISITION OF A BENEFICIAL INTEREST THEREIN, AGREE TO TREAT THE NOTES AS INDEBTEDNESS OF CHASE BANK USA, NATIONAL ASSOCIATION FOR APPLICABLE FEDERAL, STATE, AND LOCAL INCOME AND FRANCHISE TAX LAW AND FOR PURPOSES OF ANY OTHER TAX IMPOSED ON OR
MEASURED BY INCOME. 
  

 B-2 

			
	REGISTERED	 	 up to $                

		
	 No.     
	 	 

  
 CHASE ISSUANCE TRUST

  
 Floating Rate 
  
 CHASEseries CLASS C(2006-1) NOTE 
  
 Chase Issuance Trust, a statutory business trust created under the laws of
the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to [                ], or registered assigns, subject to
the following provisions, a principal sum of TWO HUNDRED FIFTY MILLION DOLLARS payable on January 15, 2013 (the “Scheduled Principal Payment Date”), except as otherwise provided below or in the Indenture; provided,
however, that the entire unpaid principal amount of this Note shall be due and payable on the March 2015 Payment Date (the “Legal Maturity Date”). Interest will accrue on this Note at the rate of LIBOR plus 0.40% per annum, as
more specifically set forth in the Class C(2006-1) Terms Document, dated as of January 26, 2006 (the “Class C Terms Document”), between the Issuer, the Indenture Trustee and the Collateral Agent, and shall be due and payable on each
Interest Payment Date from the Monthly Interest Accrual Date in the related Monthly Period (or, in the case of the first Interest Payment Date, from and including the date of issuance of this Note) to but excluding the first Monthly Interest Accrual
Date after the end of that Monthly Period. Interest will be computed on the basis of a 360-day year and the actual number of days elapsed. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof.

  
 The principal of and interest on this Note are payable in such
coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this
Note as provided above and then to the unpaid principal of this Note. 
  
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 
  
 Unless the certificate of authentication hereon has been executed by the Indenture Trustee whose name appears below by
manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 
  

 B-3 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by its
Authorized Officer. 
  

			
	CHASE ISSUANCE TRUST, as Issuer
		
	By:	 	CHASE BANK USA, NATIONAL ASSOCIATION, not in its individual capacity but solely as Beneficiary under the Trust Agreement
		
	By:	 	  

	Name:	 	 
	Title:	 	 

  
 Date:
January 26, 2006 
  
 INDENTURE TRUSTEE’S CERTIFICATE OF
AUTHENTICATION 
  
 This is one of the Notes designated above and
referred to in the within-mentioned Indenture. 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee
		
	By:	 	  

	Name:	 	 
	Title:	 	 

  
 Date:
January 26, 2006 
  

 B-4 

 [REVERSE OF NOTE] 
  

This Class C Note is one of the Notes of a duly authorized issue of Notes of the Issuer, designated as its “CHASEseries Class C Notes”
(herein called the “Notes”), all issued under an Amended and Restated Indenture dated as of October 15, 2004 (such indenture, as supplemented or amended, is herein called the “Indenture”) between the Issuer and Wells Fargo
Bank, National Association, as indenture trustee (the “Indenture Trustee,” which term includes any successor Indenture Trustee under the Indenture), as supplemented by an Amended and Restated Asset Pool One Supplement dated as of
October 15, 2004, an Amended and Restated CHASEseries Indenture Supplement dated as of October 15, 2004 (the “Indenture Supplement”) and the Class C Terms Document, each between the Issuer and Wells Fargo Bank, National
Association, as Indenture Trustee and collateral agent (the “Collateral Agent”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the
Issuer, the Indenture Trustee, the Collateral Agent and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings
assigned to them in or pursuant to the Indenture, as so supplemented or amended. 
  
 Although a summary of certain provisions of the Indenture is set forth below, this Note is qualified in its entirety by the terms and provisions of the Indenture and reference is made to that Indenture for information
with respect to the interests, rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Indenture Trustee. 
  
 The Class A Notes and the Class B Notes will also be issued under the Indenture. 
  
 The Notes are and will be equally and ratably secured by the collateral
pledged as security therefor as provided in the Indenture and the Asset Pool One Supplement. 
  
 As described above, the entire unpaid principal amount of this Note shall be due and payable on the Legal Maturity Date. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and
payable on the date on which an Event of Default relating solely to the non-payment of interest on the Notes shall have occurred and be continuing and the Indenture Trustee or the Holders of more than 66 2/3% of the Outstanding Dollar Principal Amount of the Notes have declared the Notes to be immediately due and payable in the manner provided in
Section 6.02 of the Indenture; provided, however, that such acceleration of the entire unpaid principal amount of the Notes may be rescinded by the holders of more than 66 2/3% of the Outstanding Dollar Principal Amount of the Notes. All principal payments on the Notes shall be made pro rata to the Noteholders entitled thereto.

  

 B-5 

 On any Payment Date on or after the Payment Date on which the aggregate Nominal Liquidation Amount (after
giving effect to all payments on such Payment Date) of any class of Notes is reduced to less than 10% of its highest Outstanding Dollar Principal Amount at any time, the Servicer has the right, but not the obligation, to redeem such class of Notes
in whole but not in part, pursuant to Section 11.02 of the Indenture. The redemption price of such Notes will equal 100% of the Outstanding Dollar Principal Amount of such Tranche plus accrued, unpaid and additional interest or principal
accreted and unpaid on such Tranche to but excluding the date of redemption. 
  
 Subject to the terms and conditions of the Indenture, the Issuer may, from time to time, issue one or more series of Notes secured by one or more asset pools. Subject to the terms of the Asset Pool One Supplement, the
Issuer may, from time to time, issue one or more series of Notes secured by Asset Pool One. Subject to the terms and conditions of the Indenture Supplement, the Issuer may, from time to time, issue one or more Tranches of CHASEseries Notes.

  
 On each Payment Date, the Paying Agent shall distribute to
each Noteholder of record on the related Record Date (except for the final distribution with respect to this Note) such Noteholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Payment Date to
pay interest and principal on the Notes. Final payments of this Note will be made only upon presentation and surrender of this Note at the office or offices therein specified. 
  
 Payments of interest on this Note due and payable on each Interest Payment Date, together with the installment of principal,
if any, due and payable on each Principal Payment Date, to the extent not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Registered Holder of this Note (or one or more Predecessor Notes) on the
Note Register as of the close of business on each Record Date. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this
Note be submitted for notation of payment. Any reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Payment Date shall be binding upon all future Holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid
principal amount of this Note on a Payment Date, then the Indenture Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Registered Holder hereof as of the Record Date preceding such Payment Date by notice mailed
within five days of such Payment Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Indenture Trustee’s principal Corporate Trust Office or at the office of the Indenture
Trustee’s agent appointed for such purposes located in the City of New York. On any payment of interest or principal being made, details of such payment shall be entered by the Indenture Trustee on behalf of the Issuer in Schedule A hereto.

  

 B-6 

 As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this
Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, duly endorsed by, or accompanied by a written instrument of transfer in
form satisfactory to the Indenture Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by a commercial bank or trust company located, or having a correspondent located, in the City
of New York or the city in which the Corporate Trust Office is located, or a member firm of a national securities exchange, and such other documents as the Indenture Trustee may require, and thereupon one or more new Notes of authorized
denominations and in the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to
pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
  
 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees that no
recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee or the Indenture Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith,
against (i) the Indenture Trustee, the Collateral Agent or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary, agent, officer, director or
employee of the Indenture Trustee, the Collateral Agent or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Owner Trustee, the Collateral Agent or the Indenture Trustee or of any successor or
assign of the Indenture Trustee, the Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed and except that any such partner, owner or beneficiary shall be fully liable, to the extent
provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 
  

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note, covenants and agrees that by
accepting the benefits of the Indenture that such Noteholder will not at any time institute against Chase Bank USA, National Association, the First USA Credit Card Master Trust, the Chase Credit Card Master Trust or the Issuer, or join with any
institution against Chase Bank USA, National Association, the First USA Credit Card Master Trust, the Chase Credit Card Master Trust or the Issuer, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other
proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, the Indenture, the Asset Pool One Supplement, the CHASEseries Indenture Supplement, the Terms Agreement or any
Derivative Agreement. 
  

 B-7 

 Prior to the due presentment for registration of transfer of this Note, the Issuer, the Indenture Trustee
and any agent of the Issuer or the Indenture Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes,
whether or not this Note be overdue, and neither the Issuer, the Indenture Trustee nor any such agent shall be affected by notice to the contrary. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer
and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Holders of Notes representing more than 66 2/3% of the Outstanding Dollar Principal Amount of the Notes. The Indenture also contains provisions permitting the Holders of Notes representing specified percentages of the Outstanding Dollar Principal
Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof
whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Indenture Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes issued
thereunder. 
  
 The term “Issuer” as used in this
Note includes any successor to the Issuer under the Indenture. 
  
 The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Indenture Trustee and the Holders of Notes under the Indenture. 
  
 The Notes are issuable only in registered form in denominations as provided
in the Indenture, subject to certain limitations therein set forth. 
  
 THIS NOTE AND THE INDENTURE WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL
BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  
 No reference
herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and
in the coin or currency herein prescribed. 
  
 No recourse may be
taken, directly or indirectly, with respect to the obligations of the Issuer on the Notes or under the Indenture or any certificate or other 
  

 B-8 

 writing delivered in connection herewith or therewith, against (i) the Owner Trustee in its individual capacity,
(ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer
or the Owner Trustee or of any successor or assign of the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Owner Trustee has no such obligations in its individual capacity).
The Holder of this Note by the acceptance hereof agrees that, except as expressly provided in the Indenture, the Asset Pool One Supplement, the CHASEseries Indenture Supplement and the Terms Document, in the case of an Event of Default under the
Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the
assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 
  
 Notwithstanding the allocation provisions of the Indenture, the Asset Pool One Supplement, each additional Asset Pool Supplement, the CHASEseries
Indenture Supplement and the indenture supplements for each other Series of Notes, if any, to the extent that the CHASEseries Noteholders are deemed to have any interest in any assets of the Issuer allocated to other Notes, each Noteholder or Note
Owner, by acceptance of a Note, or in the case of a Note Owner, a beneficial interest in a Note, shall agree that their interest in those assets is subordinate to claims or rights of such other Noteholders to those other assets. Further, each
Noteholder or Note Owner, by acceptance of a Note, or in the case of a Note Owner, a beneficial interest in a Note, shall agree that such agreement constitutes a subordination agreement for purposes of Section 510(a) of the Bankruptcy Code.

  

 B-9 

 ASSIGNMENT 
  
 Social Security or taxpayer I.D. or other identifying number of assignee 
  
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 
  
 (name and address of assignee) 
  
 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the premises. 
  

			
	 Dated:
                    
	 	 
		
	  

	 	 *

	 Signature Guaranteed:
	 	 

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

  

 B-10 

 SCHEDULE A 
  
 PART I 
  
 INTEREST PAYMENTS 
  

									
	 Interest Payment Date

	  	 Date of
 Payment

	  	 Total Amount of
 Interest
     Payable    

	  	 Amount of
         Interest Paid        

	  	 Confirmation
 of payment by
 or on behalf
         of the Trust        

	 First
	  	 	  	 	  	 	  	 
					
	 Second
	  	 	  	 	  	 	  	 
					
	[continue numbering until the appropriate number of interest payment dates for the Notes is reached]	  	 	  	 	  	 	  	 

  

 B-11 

 PART II 
  
 PRINCIPAL PAYMENTS 
  

							
	 Date of Payment

	  	 Total Amount
 Payable

	  	 Total Amount
         Paid        

	  	 Confirmation of
 payment by or on
         behalf of the
Trust        

				
	 Date of Payment

	  	 Total Amount
 Payable

	  	 Total Amount
         Paid        

	  	 Confirmation of
 payment by or on
         behalf of the
Trust        

	[continue numbering until the appropriate number of installment dates for the Notes is reached]	  	 	  	 	  	 

  

 B-12

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