Document:

EX-4.3

 EXHIBIT 4.3 
  

 
  

SERIES 2017-8 SUPPLEMENT 

Dated as of October 30, 2017 

to 
 THIRD AMENDED AND RESTATED

 POOLING AND SERVICING AGREEMENT 

Dated as of July 20, 2016 

$632,184,000 
  

 
 AMERICAN EXPRESS
CREDIT ACCOUNT MASTER TRUST 
 Series 2017-8 

 
  

among 
 AMERICAN EXPRESS
RECEIVABLES FINANCING CORPORATION III LLC 
 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC 

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

and 
 THE BANK OF NEW YORK MELLON

 as Trustee 
 on behalf of the
Series 2017-8 Certificateholders 
  

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I
	 	
CREATION OF THE SERIES 2017-8 CERTIFICATES
	  	 	1	 
			
	 Section 1.01.
	 	Designation	  	 	1	 
			
	 ARTICLE II
	 	 DEFINITIONS
	  	 	2	 
			
	 Section 2.01.
	 	Definitions	  	 	2	 
			
	 ARTICLE III
	 	 SERVICING FEE
	  	 	15	 
			
	 Section 3.01.
	 	Servicing Compensation	  	 	15	 
			
	 ARTICLE IV
	 	
RIGHTS OF SERIES 2017-8 CERTIFICATEHOLDERS AND
ALLOCATION AND APPLICATION OF COLLECTIONS
	  	 	15	 
			
	 Section 4.01.
	 	Collections and Allocations	  	 	15	 
			
	 Section 4.02.
	 	Determination of Monthly Interest	  	 	17	 
			
	 Section 4.03.
	 	Principal Funding Account; Controlled Accumulation Period	  	 	19	 
			
	 Section 4.04.
	 	Required Amount	  	 	21	 
			
	 Section 4.05.
	 	Application of Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal Collections	  	 	22	 
			
	 Section 4.06.
	 	Defaulted Amounts; Investor Charge-Offs	  	 	24	 
			
	 Section 4.07.
	 	Excess Spread; Excess Finance Charge Collections	  	 	25	 
			
	 Section 4.08.
	 	Reallocated Principal Collections	  	 	26	 
			
	 Section 4.09.
	 	Excess Finance Charge Collections	  	 	27	 
			
	 Section 4.10.
	 	Reallocated Investor Finance Charge Collections	  	 	27	 
			
	 Section 4.11.
	 	Shared Principal Collections	  	 	28	 
			
	 Section 4.12.
	 	Reserve Account	  	 	29	 
			
	 Section 4.13.
	 	Investment Instructions	  	 	30	 
			
	 Section 4.14.
	 	Determination of LIBOR	  	 	31	 
			
	 ARTICLE V
	 	DISTRIBUTIONS AND REPORTS TO SERIES 2017-8 CERTIFICATEHOLDERS	  	 	31	 
			
	 Section 5.01.
	 	Distributions	  	 	31	 
			
	 Section 5.02.
	 	Reports and Statements to Series 2017-8 Certificateholders	  	 	33	 
			
	 ARTICLE VI
	 	 PAY-OUT EVENTS
	  	 	33	 
			
	 Section 6.01.
	 	Pay-Out Events	  	 	33	 
			
	 ARTICLE VII
	 	 OPTIONAL REPURCHASE; SERIES TERMINATION
	  	 	35	 
			
	 Section 7.01.
	 	Optional Repurchase	  	 	35	 
			
	 Section 7.02.
	 	Series Termination	  	 	35	 
			
	 ARTICLE VIII
	 	 FINAL DISTRIBUTIONS
	  	 	36	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 Section 8.01.
	 	Sale of Receivables or Certificateholders’ Interest pursuant to Section 2.06 or 10.01 of the Agreement and Section 7.01 or 7.02 of this Supplement	  	 	36	 
			
	 Section 8.02.
	 	Distribution of Proceeds of Sale, Disposition or Liquidation of the Receivables pursuant to Section 9.01 of the Agreement	  	 	37	 
			
	 ARTICLE IX
	 	MISCELLANEOUS PROVISIONS	  	 	38	 
			
	 Section 9.01.
	 	Ratification of Agreement	  	 	38	 
			
	 Section 9.02.
	 	Counterparts	  	 	38	 
			
	 Section 9.03.
	 	Governing Law	  	 	38	 
			
	 Section 9.04.
	 	[Reserved]	  	 	38	 
			
	 Section 9.05.
	 	FATCA Matters	  	 	38	 
			
	 Section 9.06.
	 	Uncertificated Securities	  	 	39	 
			
	 Section 9.07.
	 	Transfers of the Collateral Interest	  	 	39	 
			
	 EXHIBITS
	 		  			
			
	 Exhibit A-1
	 	Form of Class A Certificate	  	 	A-1-1	 
			
	 Exhibit A-2
	 	Form of Class B Certificate	  	 	A-2-1	 
			
	 Exhibit B
	 	Form of Monthly Payment Instructions and Notification to the Trustee	  	 	B-1	 
			
	 Exhibit C-1
	 	Form of Monthly Statement	  	 	C-1-1	 
			
	 Exhibit C-2
	 	Form of Annual Payment Information	  	 	C-2-1	 
			
	 Exhibit D
	 	Form of Monthly Servicer’s Certificate	  	 	D-1	 
			
	 Exhibit E
	 	Form of Investment Letter	  	 	E-1	 

  

  
 -ii- 

 SERIES 2017-8 SUPPLEMENT, dated as of October 30,
2017 (the “Supplement”), among AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC, a Delaware limited liability company, and AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC, a Delaware limited liability company, as
Transferors, AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., a New York corporation, as Servicer, and THE BANK OF NEW YORK MELLON, a banking corporation organized and existing under the laws of the State of New York, not in its individual
capacity, but solely as Trustee. 
 Pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20,
2016 (as amended and restated and as otherwise amended and supplemented, the “Agreement”), among the Transferors, the Servicer and the Trustee, the AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST (the “Trust”) has been
created. Section 6.03 of the Agreement provides that the Transferors may from time to time direct the Trustee to authenticate one or more new Series of Investor Certificates representing fractional undivided interests in the Trust. The
Principal Terms of any new Series are to be set forth in a Supplement to the Agreement. 
 Pursuant to this Supplement, the Transferors and
the Trustee shall create a new Series of Investor Certificates and specify the Principal Terms thereof. 
 ARTICLE I 

Creation of the Series 2017-8 Certificates 

Section 1.01. Designation. 

(a) There is hereby created a Series of Investor Certificates to be issued pursuant to the Agreement and this Supplement to be known as
“American Express Credit Account Master Trust, Series 2017-8.” The Series 2017-8 Certificates shall be issued in two Classes, the first of which shall be known
as the “Class A Series 2017-8 Floating Rate Asset Backed Certificates” and the second of which shall be known as the “Class B Series 2017-8
Floating Rate Asset Backed Certificates.” In addition, there is hereby created a third Class of uncertificated interests in the Trust which shall be known as the “Collateral Interest, Series
2017-8” and which shall be deemed to be “Investor Certificates” for all purposes under the Agreement and this Supplement other than for purposes of the definition of the term “Tax
Opinion” in Section 1.01 of the Agreement. The Collateral Interest shall be considered a Class of Series 2017-8 for all purposes of the Agreement and this Supplement, including for purposes of
voting concerning the liquidation of the Trust pursuant to Section 9.01 of the Agreement. The Collateral Interest Holder shall be deemed to be the Series Enhancer for all purposes under the Agreement and this Supplement. 

(b) Series 2017-8 shall be included in Group II and shall be a Principal Sharing Series. Series 2017-8 shall be an Excess Allocation Series. Series 2017-8 shall not be subordinated to any other Series. Notwithstanding any provision in the Agreement or in this
Supplement to the contrary, the first Distribution Date with respect to Series 2017-8 shall be the November 2017 Distribution Date and the first Monthly Period shall begin on and include the Closing Date and
end on and include October 31, 2017. 
 (c) Except as expressly provided herein, (i) the provisions of Article VI and Article XII
of the Agreement relating to the registration, authentication, delivery, presentation, cancellation and surrender of Registered Certificates shall not be applicable to the Collateral Interest, and (ii) the provisions of Section 3.07 of the
Agreement shall not cause the Collateral Interest to be treated as debt for 

  
 1 

 
federal, state and local income and franchise tax purposes, but rather the Transferors intend, and together with the Collateral Interest Holder, agree to treat the Collateral Interest for
federal, state and local income and franchise tax purposes as representing an equity interest in the assets of the Trust. 
 (d) Pursuant to
Section 6.03(c) of the Agreement, the Transferors may, from time to time, increase the amount of the Series 2017-8 Certificates by issuing and selling additional Series
2017-8 Certificates. Any additional Series 2017-8 Certificates so issued shall be treated, for all purpose, like the Series
2017-8 Certificates subject to the terms of the Agreement and this Supplement. 
 (e) Series 2017-8 shall be a Repurchase Reporting Series. 
 (f) Series 2017-8
shall be an Investor Communication Reporting Series. 
 (g) In connection with the issuance of any future Series of Investor Certificates,
notwithstanding subsection 6.03(b)(iv) of the Agreement, the Rating Agency Condition need not be satisfied for Series 2017-8 with respect to any Rating Agency (other than Standard & Poor’s) then
rating Series 2017-8. 
 ARTICLE II 

Definitions 

Section 2.01. Definitions. 

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

“Additional Interest” shall mean, with respect to any Distribution Date, the Class A Additional Interest, the
Class B Additional Interest and the Collateral Additional Interest for such Distribution Date. 

“Adjusted Invested Amount” shall mean, with respect to any date of determination, an amount equal to the Invested
Amount less the Principal Funding Account Balance on such date of determination. 
 “Assignee” shall have the meaning
specified in subsection 9.07(a). 
 “Available Principal Collections” shall mean, with respect to any Monthly
Period, an amount equal to the sum of (a) (i) an amount equal to the Principal Allocation Percentage of Series 2017-8 Allocable Principal Collections received during such Monthly Period minus
(ii) the amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to Section 4.08 are required to fund the Required Amount for the related Distribution Date, (b) any Shared Principal
Collections with respect to other Series that are allocated to Series 2017-8 in accordance with Section 4.04 of the Agreement and Section 4.11 of this Supplement, and (c) any other amounts which
pursuant to Section 4.05 or 4.07 of this Supplement are to be treated as Available Principal Collections with respect to the related Distribution Date. 

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

  
 2 

 “Base Rate” shall mean, with respect to any Monthly Period, the annualized
percentage equivalent of a fraction, the numerator of which is equal to the sum of the Class A Monthly Interest, the Class B Monthly Interest (calculated as if the Class B Invested Amount equals the outstanding principal balance of
the Class B Certificates), the Collateral Senior Minimum Monthly Interest and the Monthly Servicing Fee with respect to the related Distribution Date and the denominator of which is the Invested Amount as of the last day of the preceding
Monthly Period. 
 “Class A Additional Interest” shall have the meaning specified in subsection 4.02(a).

 “Class A Adjusted Invested Amount” shall mean, with respect to any date of determination, an amount
equal to the Class A Invested Amount less the Principal Funding Account Balance (but not in excess of the Class A Invested Amount) on such date. 

“Class A Available Funds” shall mean, with respect to any Monthly Period, an amount equal to the sum of
(a) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class A Floating Percentage of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date,
(b) the Class A Floating Percentage of the Reallocated Investor Finance Charge Collections and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be
included in Class A Available Funds with respect to such Distribution Date. 

“Class A Certificate Rate” shall mean, for any Interest Accrual Period with respect to the Class A
Certificates, a per annum rate equal to LIBOR plus 0.12%; provided that if the sum of LIBOR plus 0.12% is less than 0.00% for any Interest Accrual Period, then the Class A Certificate Rate for such Interest Accrual Period shall be
deemed to be 0.00%. 
 “Class A Certificateholder” shall mean the Person in whose name a Class A Certificate
is registered in the Certificate Register. 
 “Class A Certificates” shall mean any one of the Certificates
executed by the Transferors and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A-l. 

“Class A Floating Percentage” shall mean, with respect to any Monthly Period, the percentage equivalent (which
percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class A Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the
Adjusted Invested Amount as of such day; provided, however, that with respect to the first Monthly Period, the Class A Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class A
Initial Invested Amount and the denominator of which is the Initial Invested Amount. 
 “Class A Initial Invested
Amount” shall mean $550,000,000. 
 “Class A Interest Shortfall” shall have the meaning specified
in subsection 4.02(a). 
 “Class A Invested Amount” shall mean, on any date of determination, an amount
equal to (a) the Class A Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class A Certificateholders on or prior to such date, minus (c) the excess, if any, of
(i) the aggregate amount of Class A Investor Charge-Offs for all prior Distribution Dates over (ii) Class A Investor Charge-Offs reimbursed pursuant to subsection 4.07(b) prior to such date, and plus (d) the
principal amount of any additional Class A Certificates issued after the Closing Date in accordance with Section 6.03(c) of the Agreement; provided, however, that the Class A Invested Amount shall not be reduced below
zero. 

  
 3 

 “Class A Investor Charge-Offs” shall have the meaning specified
in subsection 4.06(a). 
 “Class A Investor Default Amount” shall mean, with respect to each
Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class A Floating Percentage for such Monthly Period. 

“Class A Monthly Interest” shall have the meaning specified in subsection 4.02(a). 

“Class A Principal Percentage” shall mean, with respect to any Monthly Period (i) during the Revolving
Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which is the
Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the
numerator of which is the Class A Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which
the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Class A Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class A
Initial Invested Amount and denominator of which is the Initial Invested Amount. 

“Class A Required Amount” shall have the meaning specified in subsection 4.04(a). 

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

“Class B Additional Interest” shall have the meaning specified in subsection 4.02(b). 

“Class B Adjusted Invested Amount” shall mean, with respect to any date of determination, an amount equal
to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date. 

“Class B Available Funds” shall mean, with respect to any Monthly Period, an amount equal to the sum of
(a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating
Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date. 

“Class B Certificate Rate” shall mean, for any Interest Accrual Period with respect to the Class B
Certificates, a per annum rate equal to LIBOR plus 0.26%; provided that if the sum of LIBOR plus 0.26% is less than 0.00% for any Interest Accrual Period, then the Class B Certificate Rate for such Interest Accrual Period shall be deemed
to be 0.00%. 
 “Class B Certificateholder” shall mean the Person in whose name a Class B Certificate is
registered in the Certificate Register. 
 “Class B Certificates” shall mean any one of the Certificates executed
by the Transferors and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A-2. 

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

  
 4 

 
Class B Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Invested Amount and the denominator of which is the Initial
Invested Amount. 
 “Class B Initial Invested Amount” shall mean $20,546,000. 

“Class B Interest Shortfall” shall have the meaning specified in subsection 4.02(b). 

“Class B Invested Amount” shall mean, on any date of determination, an amount equal to (a) the
Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs
for all prior Distribution Dates, minus (d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) (excluding any Reallocated Principal Collections that have resulted in a
reduction in the Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced on all prior Distribution Dates pursuant to subsection
4.06(a), plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated and available on all prior Distribution Dates pursuant to subsection 4.07(e) for the purpose of reimbursing amounts deducted pursuant to the
foregoing clauses (c), (d) and (e), and plus (g) the principal amount of any additional Class B Certificates issued after the Closing Date in accordance with Section 6.03(c) of the Agreement; provided, however, that the
Class B Invested Amount shall not be reduced below zero. 
 “Class B Investor Charge-Offs” shall have
the meaning specified in subsection 4.06(b). 
 “Class B Investor Default Amount” shall mean, with
respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class B Floating Percentage for such Monthly Period. 

“Class B Monthly Interest” shall have the meaning specified in subsection 4.02(b). 

“Class B Principal Percentage” shall mean, with respect to any Monthly Period, (i) during the Revolving
Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of which is the
Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the
numerator of which is the Class B Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which
the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Class B Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B
Initial Invested Amount and the denominator of which is the Initial Invested Amount. 

“Class B Required Amount” shall have the meaning set forth in subsection 4.04(b). 

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

“Closing Date” shall mean October 30, 2017; provided that, for purposes of determining the date on which the
first Monthly Period begins, the Closing Date shall be deemed to be the close of business on September 30, 2017. 

“Collateral Additional Interest” shall have the meaning specified in subsection 4.02(c). 

  
 5 

 “Collateral Available Funds” shall mean with respect to any
Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period. 

“Collateral Charge-Offs” shall have the meaning specified in subsection 4.06(c). 

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

“Collateral Initial Invested Amount” shall mean $61,638,000. 

“Collateral Interest” shall mean a fractional undivided interest in the Trust which shall consist of the right to
receive, (i) to the extent necessary to make the required payments to the Collateral Interest Holder under this Supplement, the portion of Collections allocable thereto under the Agreement and this Supplement and funds on deposit in the
Collection Account allocable thereto pursuant to the Agreement and this Supplement and (ii) amounts available for payment to the Collateral Interest Holder pursuant to subsections 4.07(k), 4.12(e), 4.12(f), 8.01(b), 8.02(a) and 8.02(b) or any
other provision of this Supplement. 
 “Collateral Interest Holder” shall mean the entity so designated in the
Transfer Agreement. 
 “Collateral Interest Shortfall” shall have the meaning specified in subsection 4.02(c).

 “Collateral Invested Amount” shall mean, when used with respect to any date, an amount equal to (a) the
Collateral Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Collateral Interest Holder prior to such date, minus (c) the aggregate amount of Collateral Charge-Offs for all prior
Distribution Dates pursuant to subsection 4.06(c), minus (d) the aggregate amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to Section 4.08 allocable to the Collateral Invested Amount,
minus (e) an amount equal to the amount by which the Collateral Invested Amount has been reduced on all prior Distribution Dates pursuant to subsections 4.06(a) and (b), plus (f) the amount allocated and available on all
prior Distribution Dates pursuant to subsection 4.07(i), for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e), and plus (g) the principal amount of any additional Collateral Interest issued
after the Closing Date in accordance with Section 6.03(c) of the Agreement; provided, however, that the Collateral Invested Amount shall not be reduced below zero. 

“Collateral Minimum Interest Rate” shall mean the rate specified in the Transfer Agreement (as modified as described
therein); provided that for purposes of this Supplement, such rate shall not exceed LIBOR plus 1.417% per annum. 

“Collateral Minimum Monthly Interest” shall have the meaning specified in subsection 4.02(c). 

  
 6 

 “Collateral Principal Percentage” shall mean, with respect to any
Monthly Period, (i) during the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Collateral Invested Amount as of the last day of the immediately preceding
Monthly Period and the denominator of which is the Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which percentage
shall never exceed 100%) of a fraction, the numerator of which is the Collateral Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of
the close of business on the date on which the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Collateral Principal Percentage shall mean the percentage equivalent of a fraction,
the numerator of which is the Collateral Initial Invested Amount and the denominator of which is the Initial Invested Amount. 

“Collateral Senior Additional Interest” shall have the meaning specified in subsection 4.02(d). 

“Collateral Senior Initial Invested Amount” shall mean $41,092,000. 

“Collateral Senior Interest Shortfall” shall have the meaning specified in subsection 4.02(d). 

“Collateral Senior Invested Amount” shall mean, when used with respect to any date, an amount equal to the
Collateral Senior Initial Invested Amount less the aggregate amount of principal payments distributed to the Collateral Interest Holder in respect of the Collateral Senior Invested Amount on all prior Distribution Dates, plus the principal
amount of any additional Collateral Interest issued in respect of the Collateral Senior Invested Amount after the Closing Date in accordance with Section 6.03(c) of the Agreement. 

“Collateral Senior Minimum Interest Rate” shall mean the rate specified in the Transfer Agreement (as modified as described
therein); provided that for purposes of this Supplement, such rate shall not exceed LIBOR plus 0.50% per annum. 

“Collateral Senior Minimum Monthly Interest” shall have the meaning specified in subsection 4.02(d). 

“Collateral Senior Required Amount” shall have the meaning set forth in subsection 4.04(c). 

“Collateral Servicing Fee” shall have the meaning set forth in Section 3.01. 

“Controlled Accumulation Amount” shall mean, for any Distribution Date with respect to the Controlled Accumulation
Period, $47,545,500; provided, however, that, if the Controlled Accumulation Period Length is determined to be less than 12 months, the Controlled Accumulation Amount for each Distribution Date with respect to the Controlled Accumulation
Period will be equal to (i) the product of (x) the sum of the Class A Initial Invested Amount and the Class B Initial Invested Amount and (y) the Controlled Accumulation Period Factor for the related Monthly Period divided
by (ii) the Required Accumulation Factor Number. 
 “Controlled Accumulation Period” shall mean, unless a Pay-Out Event shall have occurred prior thereto, the period commencing at the close of business on the last day of the September 2018 Monthly Period or such later date as is determined in accordance with subsection
4.03(c) and ending on the first to occur of (a) the commencement of the Early Amortization Period, (b) the payment in full of the Invested Amount and (c) the Expected Final Payment Date. 

  
 7 

 “Controlled Accumulation Period Factor” shall mean, for each
Monthly Period, a fraction, the numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of
(a) the Series Invested Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series
2017-8) that are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal
Sharing Series and are in their revolving periods. 
 “Controlled Accumulation Period Length” has the
meaning specified in subsection 4.03(c). 
 “Controlled Deposit Amount” shall mean, for any Distribution Date
with respect to the Controlled Accumulation Period, an amount equal to the sum of the Controlled Accumulation Amount for such Distribution Date and any Deficit Controlled Accumulation Amount for the immediately preceding Distribution Date. 

“Covered Amount” shall mean, for any Distribution Date with respect to the Controlled Accumulation Period or the first
Special Payment Date, if such Special Payment Date occurs prior to the date the Class A Invested Amount is paid in full, an amount equal to the sum of (x) with respect to the Class A Certificates, the product of (i) the
Class A Certificate Rate, (ii) a fraction, the numerator of which is the actual number of days from and including the prior Distribution Date to but excluding the then current Distribution Date and the denominator of which is 360 and,
(iii) the Principal Funding Account Balance, if any, as of the preceding Distribution Date that is allocable to the principal of the Class A Certificates and (y) with respect to the Class B Certificates, the product of
(i) the Class B Certificate Rate, (ii) a fraction, the numerator of which is the actual number of days from and including the prior Distribution Date to but excluding the then current Distribution Date and the denominator of which is
360 and (iii) the Principal Funding Account Balance, if any, as of the preceding Distribution Date that is allocable to the principal of the Class B Certificates. 

“Deficit Controlled Accumulation Amount” shall mean (a) on the first Distribution Date with respect to
the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each subsequent
Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent
Distribution Date. 
 “Distribution Date” shall mean November 15, 2017, and the 15th day of each calendar month
thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 

“Early Amortization Period” shall mean the period commencing at the close of business on the Business Day
immediately preceding the day on which a Pay-Out Event with respect to Series 2017-8 is deemed to have occurred, and ending on the first to occur of (i) the payment
in full of the Invested Amount or (ii) the Series 2017-8 Termination Date. 
 “Excess
Finance Charge Collections” shall mean collections of Finance Charge Receivables and certain other amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make
required payments with respect to such series (including payments to the provider of any related Series Enhancement) that are payable out of collections of Finance Charge Receivables. 

  
 8 

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

“Expected Final Payment Date” shall mean the October 2019 Distribution Date. 

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

“Fitch” shall mean Fitch Ratings, Inc. or its successor. 

“Floating Allocation Percentage” shall mean, with respect to any Monthly Period, the percentage equivalent (which
percentage shall never exceed 100%) of a fraction, the numerator of which is the Adjusted Invested Amount as of the last day of the preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount) and the
denominator of which is the product of (x) the Series 2017-8 Allocation Percentage with respect to such Monthly Period and (y) the sum of (i) the total amount of Principal Receivables in the
Trust as of such day (or with respect to the first Monthly Period, the total amount of Principal Receivables in the Trust on the Closing Date) and (ii) the principal amount on deposit in the Special Funding Account as of such last day (or with
respect to the first Monthly Period, as of the Closing Date); provided, however, that with respect to any Monthly Period in which an Addition Date for an Aggregate Addition or a Removal Date occurs the amount in (y)(i) above shall be
(1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including the first day of such Monthly Period to but excluding the related Addition Date
or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date for the period from and including the related Addition Date or Removal Date to and including
the last day of such Monthly Period. 
 “Group II” shall mean Series 2017-8 and
each other Series specified in the related Supplement to be included in Group II. 
 “Group
II Investor Additional Amounts” shall mean, with respect to any Distribution Date, the sum of (a) Series 2017-8 Additional Amounts for such Distribution Date and (b) for all
other Series included in Group II, the sum of (i) the aggregate net amount by which the Invested Amounts of such Series have been reduced as a result of investor charge-offs, subordination of principal collections and funding the investor
default amounts in respect of any Class or Series Enhancement interests of such Series as of such Distribution Date and (ii) if the applicable Supplements so provide, the aggregate unpaid amount of interest at the applicable certificate
rates that has accrued on the amounts described in the preceding clause (i) for such Distribution Date. 
 “Group
II Investor Default Amount” shall mean, with respect to any Distribution Date, the sum of (a) the Investor Default Amount for such Distribution Date and (b) the aggregate amount of the investor default amounts for
all other Series included in Group II for such Distribution Date. 
 “Group
II Investor Finance Charge Collections” shall mean, with respect to any Distribution Date, the sum of (a) Investor Finance Charge Collections for such Distribution Date and (b) the aggregate amount of the
investor finance charge collections for all other Series included in Group II for such Distribution Date. 
 “Group
II Investor Monthly Fees” shall mean with respect to any Distribution Date, the sum of (a) Series 2017-8 Monthly Fees for such Distribution Date and (b) the aggregate amount
of the servicing fees, investor fees, fees payable to any Series Enhancer and any other similar fees, which are payable out of reallocated investor finance charge collections pursuant to the related Supplements, for all other Series included in
Group II for such Distribution Date. 

  
 9 

 “Group II Investor Monthly Interest” shall mean, with respect to any
Distribution Date, the sum of (a) Series 2017-8 Monthly Interest for such Distribution Date and (b) the aggregate amount of monthly interest, including overdue monthly interest and interest on such
overdue monthly interest, if such amounts are payable out of reallocated investor finance charge collections pursuant to the related Supplements, for all other Series included in Group II for such Distribution Date. 

“Initial Invested Amount” shall mean $632,184,000. 

“Interest Accrual Period” shall mean, with respect to any Distribution Date, the period (a) from and including the
Distribution Date immediately preceding such Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date) and (b) to but excluding such Distribution Date. 

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

“Investment Letter” shall have the meaning specified in subsection 9.07(a). 

“Investor Charge-Offs” shall mean Class A Investor Charge-Offs, Class B Investor Charge-Offs and Collateral
Charge-Offs. 
 “Investor Default Amount” shall mean, with respect to any Distribution Date, an amount equal to
the product of (a) the Series 2017-8 Allocable Defaulted Amount for the related Monthly Period and (b) the Floating Allocation Percentage for such Monthly Period. 

“Investor Finance Charge Collections” shall mean with respect to any Distribution Date, an amount equal to the
product of (a) the Floating Allocation Percentage for the related Monthly Period and (b) Series 2017-8 Allocable Finance Charge Collections deposited in the Collection Account for the related Monthly
Period. 
 “LIBOR” shall mean, for any Interest Accrual Period, a per annum interest rate determined by the Trustee for
such Interest Accrual Period in accordance with the provisions of Section 4.14. 
 “LIBOR Determination Date” shall
mean (i) for the period from and including the Closing Date to but excluding November 15, 2017, the second London Business Day prior to the Closing Date and (ii) for every other Interest Accrual Period, the second London Business Day
prior to the commencement of such Interest Accrual Period. 
 “London Business Day” shall mean any day on which dealings in
deposits in United States dollars are transacted in the London interbank market. 
 “Monthly Interest” shall mean,
with respect to any Distribution Date, the Class A Monthly Interest, the Class B Monthly Interest and the Collateral Minimum Monthly Interest for such Distribution Date. 

“Monthly Receivables Percentage” shall mean, for any day, the percentage equivalent of a fraction, the numerator of which is
an amount equal to the sum of the aggregate amount of Principal Receivables outstanding in the Trust attributable to the Transferor or Account Owner with respect to which an Insolvency Event or a Transfer Restriction Event has occurred, and the
denominator of which is an amount equal to the sum of the aggregate amount of Principal Receivables outstanding in the Trust, in each as of the last day of the immediately preceding Monthly Period. 

  
 10 

 “Monthly Servicing Fee” shall have the meaning specified in subsection
3.01. 
 “Pay-Out Event” shall mean any
Pay-Out Event specified in Section 6.01. 
 “Permitted Assignee” shall mean
any Person who, if it were the Collateral Interest Holder or a holder of an interest in the Trust, as applicable, would not cause the Trust to be taxable as a publicly traded partnership for federal income tax purposes. 

“Principal Allocation Percentage” shall mean, with respect to any day during a Monthly Period, the percentage
equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is (a) during the Revolving Period, the Series Adjusted Invested Amount for Series 2017-8 as of the last day of
the immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Initial Invested Amount) and (b) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the Series
Adjusted Invested Amount for Series 2017-8 as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the product of (x) the sum of
(i) the total amount of Principal Receivables in the Trust as of the last day of the immediately preceding Monthly Period (or with respect to the first Monthly Period, the total amount of Principal Receivables in the Trust as of the Closing
Date) and (ii) the principal amount on deposit in the Special Funding Account as of such last day (or with respect to the first Monthly Period, the Closing Date) and (y) the Series 2017-8 Allocation
Percentage as of the last day of the immediately preceding Monthly Period; provided, however, that with respect to any Monthly Period in which an Addition Date for an Aggregate Addition or a Removal Date occurs the amount in (x)(i) above
shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including the first day of such Monthly Period to but excluding the related
Addition Date or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date for the period from and including the related Addition Date or Removal Date to
and including the last day of such Monthly Period; and provided further, that if after the commencement of the Controlled Accumulation Period a Pay-Out Event occurs with respect to another Series that
was designated in the Supplement therefor as a Series that is a “Paired Series” with respect to Series 2017-8, the Transferors may, by written notice delivered to the Trustee and the Servicer,
designate a different numerator for the foregoing fraction, provided that (x) such numerator is not less than the Adjusted Invested Amount as of the last day of the revolving period for such Paired Series, (y) the Transferors shall have
received written notice from each Rating Agency that the Rating Agency Condition has been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee and (z) each
Transferor shall have delivered to the Trustee an Officer’s Certificate of such Transferor to the effect that, based on the facts known to such officer at such time, in the reasonable belief of such Transferor, such designation will not cause a
Pay-Out Event or an event that, after the giving of notice or the lapse of time, would constitute a Pay-Out Event, to occur with respect to Series 2017-8. 
 “Principal Funding Account” shall have the meaning specified in
subsection 4.03(a)(i). 
 “Principal Funding Account Balance” shall mean, with respect to any date of
determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination. 

“Principal Funding Account Investment Proceeds” shall have the meaning specified in subsection 4.03(a)(ii). 

“Principal Funding Account Investment Shortfall” shall mean, with respect to each Distribution Date during the
Controlled Accumulation Period, the amount, if any, by which the Principal Funding Account Investment Proceeds are less than the Covered Amount. 

  
 11 

 “Reallocated Investor Finance Charge Collections” shall mean
that portion of Group II Investor Finance Charge Collections allocated to Series 2017-8 pursuant to Section 4.10. 

“Reallocated Principal Collections” shall mean, with respect to any Monthly Period, the product of (a) the
Series 2017-8 Allocable Principal Collections deposited in the Collection Account for such Monthly Period and (b) the sum of the Class B Principal Percentage and the Collateral Principal Percentage.

 “Reassignment Amount” shall mean, with respect to any Distribution Date, after giving effect to any deposits and
distributions otherwise to be made on such Distribution Date, the sum of (i) the Adjusted Invested Amount on such Distribution Date, plus (ii) Monthly Interest for such Distribution Date and any Monthly Interest previously due but
not distributed to the Series 2017-8 Certificateholders on a prior Distribution Date, plus (iii) the amount of Additional Interest, if any, for such Distribution Date and any Additional Interest
previously due but not distributed to the Series 2017-8 Certificateholders on a prior Distribution Date. 

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

“Required Accumulation Factor Number” shall be equal to a fraction, rounded upwards to the nearest whole
number, the numerator of which is one and the denominator of which is equal to the lowest monthly principal payment rate on the Accounts, expressed as a decimal, for the three months preceding the date of such calculation. 

“Required Amount” shall mean, with respect to any Monthly Period, the sum of the Class A Required Amount, the
Class B Required Amount and the Collateral Senior Required Amount. 
 “Required Reserve Account Amount”
shall mean, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on
such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall
have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each
such written notice to the Servicer and the Trustee. 
 “Reserve Account” shall have the meaning specified in
subsection 4.12(a). 
 “Reserve Account Funding Date” shall mean the Distribution Date which occurs not
later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period,
(b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the December 2017 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly
Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the April 2018 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such
Monthly Period and (d) such earlier Distribution Date as the Transferors may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to
the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period. 

  
 12 

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

“Reserve Draw Amount” shall have the meaning specified in subsection 4.12(c). 

“Reuters Screen LIBOR01 Page” shall mean the display page currently designated as page LIBOR01 on the Reuters Screen (or such
other page as may replace that page on that service for the purpose of displaying comparable rates or prices). 

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

“Series 2017-8” shall mean the Series of Certificates the terms of which are
specified in this Supplement. 
 “Series 2017-8 Additional Amounts”
shall mean, with respect to any Distribution Date, the sum of the amounts determined pursuant to subsections 4.07(b), (e) and (i) for such Distribution Date. 

“Series 2017-8 Allocable Defaulted Amount” shall mean the Series
Allocable Defaulted Amount with respect to Series 2017-8. 

“Series 2017-8 Allocable Finance Charge Collections” shall
mean the Series Allocable Finance Charge Collections with respect to Series 2017-8. 
 “Series 2017-8 Allocable Principal Collections” shall mean the Series Allocable Principal Collections with respect to Series 2017-8. 

“Series 2017-8 Allocation Percentage” shall mean the Series Allocation
Percentage with respect to Series 2017-8. 

“Series 2017-8 Certificate” shall mean a Class A Certificate or a
Class B Certificate or the Collateral Interest. 

“Series 2017-8 Certificateholder” shall mean a Class A
Certificateholder or a Class B Certificateholder or the Collateral Interest Holder. 

“Series 2017-8 Certificateholders’ Interest” shall mean the
Certificateholders’ Interest for Series 2017-8, including the Collateral Interest. 
 “Series 2017-8 Monthly Fees” shall mean, with respect to any Distribution Date, the amount determined pursuant to subsections 4.05(a)(ii), (b)(ii) and (c)(i) and subsection 4.07(g). 

“Series 2017-8 Monthly Interest” shall mean the amounts determined pursuant to
subsections 4.02(a), (b) and (d). 

“Series 2017-8 Principal Shortfall” shall have the meaning specified
in Section 4.11. 
 “Series 2017-8 Termination Date” shall mean
the May 2022 Distribution Date. 

  
 13 

 “Series Adjusted Portfolio Yield” shall mean, with respect to any
Monthly Period, the annualized percentage equivalent of a fraction, (A) the numerator of which is equal to (a) Reallocated Investor Finance Charge Collections with respect to such Monthly Period, plus (b) the amount of any
Principal Funding Account Investment Proceeds for the related Distribution Date, plus (c) provided that each Rating Agency has consented in writing to the inclusion thereof in calculating the Series Adjusted Portfolio Yield, any
Excess Finance Charge Collections that are allocated to Series 2017-8 with respect to such Monthly Period, plus (d) the amount of funds, if any, withdrawn from the Reserve Account which pursuant to
subsection 4.12(d) are required to be deposited into the Collection Account and included as Class A Available Funds for the Distribution Date with respect to such Monthly Period, minus (e) the Investor Default Amount for the
Distribution Date with respect to such Monthly Period, and (B) the denominator of which is the Invested Amount as of the last day of the preceding Monthly Period. 

“Series Cut-Off Date” shall mean the close of business on October 30,
2017. 
 “Series Invested Amount” shall mean, on any date of determination, an amount equal to the Initial
Invested Amount plus the aggregate initial principal amount of any additional Series 2017-8 Certificates issued pursuant to Section 6.03(c) of the Agreement. 

“Series Required Transferor Amount” shall mean an amount equal to 7% of the Invested Amount. 

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

“Servicing Fee Rate” shall mean 2.0% per annum. 

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

“Transfer” shall have the meaning specified in subsection 9.07(a). 

“Transfer Agreement” shall mean the Transfer and Administration Agreement, dated as of October 30, 2017, among RFC III
and RFC IV, as transferors, TRS, as administrator, and the American Express Credit Account Secured Note Trust 2017-8, as issuer, as the same may be amended, supplemented or otherwise modified from time to
time. 
 “Transferor Percentage” shall mean 100% minus (a) the Floating Allocation Percentage, when used
at any time with respect to Finance Charge Receivables and Defaulted Receivables, or (b) the Principal Allocation Percentage, when used at any time with respect to Principal Receivables. 

(b) Notwithstanding anything to the contrary in this Supplement or the Agreement, the term “Rating Agency” shall mean,
whenever used in this Supplement or the Agreement with respect to Series 2017-8, Fitch and Standard & Poor’s. As used in this Supplement and in the Agreement with respect to Series 2017-8, “highest investment category” shall mean (i) in the case of Fitch, AAA or F1+, as applicable and (ii) in the case of Standard & Poor’s, AAA or
A-1+, as applicable. 
 (c) Each capitalized term defined herein shall relate to the Series 2017-8 Certificates and no other Series of Certificates issued by the Trust, unless the context otherwise requires. All capitalized terms used herein and not otherwise defined herein have the meanings ascribed to
them in the Agreement. In the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Agreement, the terms and provisions of this Supplement shall govern. 

  
 14 

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

ARTICLE III 

Servicing Fee 

Section 3.01. Servicing Compensation. The share of the Servicing Fee allocable to the Series
2017-8 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of
(a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding
Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2017-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause
(b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the
“Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the
Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral
Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage,
(b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related
Supplements) and in no event shall the Trust, the Trustee or the Series 2017-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the
investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01,
and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates. 
 ARTICLE IV 

Rights of Series 2017-8 Certificateholders and 

Allocation and Application of Collections 

Section 4.01. Collections and Allocations. 

(a) Allocations. Collections of Finance Charge Receivables and Principal Receivables and Defaulted Receivables allocated to Series 2017-8 pursuant to Article IV of the Agreement (and, as described herein, Collections of Finance Charge Receivables reallocated from other Series in Group II) shall be allocated and distributed or reallocated as set
forth in this Article. 
 (b) Payments to the Transferor. The Servicer shall on each Deposit Date withdraw from the
Collection Account and pay to the Holders of the Transferor Certificates the following amounts: 
 (i) an amount equal to the
Transferor Percentage for the related Monthly Period of Series 2017-8 Allocable Finance Charge Collections to the extent such amount is deposited in the Collection Account; and 

  
 15 

 (ii) an amount equal to the Transferor Percentage for the related Monthly Period
of Series 2017-8 Allocable Principal Collections deposited in the Collection Account, if the Transferor Amount (determined after giving effect to any Principal Receivables transferred to the Trust on such
Deposit Date) exceeds zero. 
 The withdrawals to be made from the Collection Account pursuant to this subsection 4.01(b) do not apply to
deposits into the Collection Account that do not represent Collections, including payment of the purchase price for the Certificateholders’ Interest pursuant to Section 2.06 or 10.01 of the Agreement, payment of the purchase price for the
Series 2017-8 Certificateholders’ Interest pursuant to Section 7.01 of this Supplement and proceeds from the sale, disposition or liquidation of Receivables pursuant to Section 9.01 or 12.02 of
the Agreement. 
 (c)
Allocations to the Series 2017-8 Certificateholders. The Servicer shall, prior to the close of business on each Deposit Date, allocate to the Series 2017-8 Certificateholders the following amounts as set forth below: 
 (i)
Allocations of Finance Charge Collections. The Servicer shall allocate to the Series 2017-8 Certificateholders and retain in the Collection Account for application as provided herein
an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 2017-8 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables
deposited in the Collection Account on such Deposit Date. 
 (ii) Allocations of Principal Collections.
The Servicer shall allocate to the Series 2017-8 Certificateholders the following amounts as set forth below: 

(x) Allocations During the Revolving Period. During the Revolving Period (A) an amount equal
to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2017-8 Allocation
Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2017-8 Certificateholders and
retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2017-8 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date shall be allocated to the Series 2017-8 Certificateholders and first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent
necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates; provided, however, that such amount to be paid to the Holders of the Transferor Certificates on any
Deposit Date shall be paid to such Holders only if the Transferor Amount on such Deposit Date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall
be deposited in the Special Funding Account. 
 (y)
Allocations During the Controlled Accumulation Period. During the Controlled Accumulation Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral
Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2017-8 Allocation Percentage and (IV) the aggregate amount of Collections of Principal

  
 16 

 
Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2017-8 Certificateholders and retained in the
Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2017-8 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date (the product specified in this clause (B) for any
such date is hereinafter referred to as a “Percentage Allocation”) shall be allocated to the Series 2017-8 Certificateholders and retained in the Collection Account until applied as
provided herein; provided, however, that if the sum of such Percentage Allocation and all preceding Percentage Allocations with respect to the same Monthly Period exceeds the Controlled Deposit Amount during the Controlled Accumulation Period
for the related Distribution Date, then such excess shall not be treated as a Percentage Allocation and shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the
Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such Deposit Date is
greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 

(z) Allocations During the Early Amortization Period. During the Early Amortization Period, an
amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 2017-8 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables
deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2017-8 Certificateholders and retained in the Collection Account until applied as provided herein; provided,
however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 2017-8
Certificateholders, the remainder that has not been so deposited and allocated shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for
application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor
Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 

Section 4.02. Determination of Monthly Interest. 

(a) The amount of monthly interest (“Class A Monthly Interest”) distributable from the Collection Account with
respect to the Class A Certificates on any Distribution Date shall be an amount equal to the product of (i) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding
Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of which is 360, (ii) the Class A Certificate Rate for such Distribution Date and (iii) the
outstanding principal balance of the Class A Certificates as of close of business on the immediately preceding Record Date. 
 On the
Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the “Class A Interest Shortfall”), of (x) the Class A Monthly Interest for

  
 17 

 
such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class A Monthly Interest on such Distribution Date. If the Class A Interest
Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class A Interest Shortfall is fully paid, an additional amount (“Class A Additional Interest”)
equal to the product of (i) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but
excluding) such Distribution Date and the denominator of which is 360, (ii) the sum of (x) the Class A Certificate Rate and (y) 2.0% per annum and (iii) such Class A Interest Shortfall (or the portion thereof which has not
been paid to the Class A Certificateholders) shall be payable as provided herein with respect to the Class A Certificates. Notwithstanding anything to the contrary herein, Class A Additional Interest shall be payable or distributed to
the Class A Certificateholders only to the extent permitted by applicable law. 
 (b) The amount of monthly interest
(“Class B Monthly Interest”) distributable from the Collection Account with respect to the Class B Certificates on any Distribution Date shall be an amount equal to the product of (i) a fraction, the numerator of
which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of
which is 360, (ii) the Class B Certificate Rate for such Distribution Date and (iii) the Class B Invested Amount as of the close of business on the immediately preceding Record Date. 

On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the
“Class B Interest Shortfall”), of (x) the Class B Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to pay such Class B Monthly Interest on
such Distribution Date. If the Class B Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such Class B Interest Shortfall is fully paid, an additional amount
(“Class B Additional Interest”) equal to the product of (i) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in
the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of which is 360, (ii) the sum of (x) the Class B Certificate Rate and (y) 2.0% per annum and (iii) such
Class B Interest Shortfall (or the portion thereof which has not been paid to the Class B Certificateholders) shall be payable as provided herein with respect to the Class B Certificates. Notwithstanding anything to the contrary
herein, Class B Additional Interest shall be payable or distributed to the Class B Certificateholders only to the extent permitted by applicable law. 

(c) The amount of monthly interest (“Collateral Minimum Monthly Interest”) distributable from the Collection Account with
respect to the Collateral Invested Amount on any Distribution Date 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 period from (and including) the immediately preceding
Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of which is 360 and (B) the Collateral Minimum Interest Rate in effect with respect to the period
from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date, and (ii) the Collateral Initial Invested Amount less the aggregate
amount of principal payments distributed to the Collateral Interest Holder on all prior Distribution Dates; provided, however, that in the event the Collateral Minimum Interest Rate has been modified (as described in the definition
thereof) during the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date, the rate described in (i)(B) above shall reflect a weighted average rate calculated on the basis of the actual
number of days each Collateral Minimum Interest Rate was in effect during such period and a year of 360 days. 

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

(d) The amount of monthly interest (“Collateral Senior Minimum Monthly Interest”) distributable from the Collection Account
with respect to the Collateral Senior Invested Amount on any Distribution Date 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 period from (and including) the immediately
preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of which is 360 and (B) the Collateral Senior Minimum Interest Rate in effect with
respect to the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date, and (ii) the Collateral Senior Invested Amount;
provided, however, that in the event the Collateral Senior Minimum Interest Rate has been modified (as described in the definition thereof) during the period from (and including) the immediately preceding Distribution Date to (but
excluding) such Distribution Date, the rate described in (i)(B) above shall reflect a weighted average rate calculated on the basis of the actual number of days each Collateral Senior Minimum Interest Rate was in effect during such period and a year
of 360 days. 
 On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the
“Collateral Senior Interest Shortfall”) equal to (x) the aggregate Collateral Senior Minimum Monthly Interest for such Distribution Date minus (y) the aggregate amount of funds allocated and available to
pay such Collateral Senior Minimum Monthly Interest on such Distribution Date. If the Collateral Senior Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such Collateral Senior
Interest Shortfall is fully paid, an additional amount (“Collateral Senior Additional Interest”) shall be payable as provided herein with respect to the Collateral Senior Invested Amount equal to the product of
(i) (A) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date and the denominator of which is 360 and
(B) the Collateral Senior Minimum Interest Rate in effect during the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date, and (ii) such Collateral Senior Interest Shortfall (or
the portion thereof which has not been paid to the Collateral Interest Holder). Notwithstanding anything to the contrary herein, Collateral Senior Additional Interest shall be payable or distributed to the Collateral Interest Holder only to the
extent permitted by applicable law. 
 Section 4.03.
Principal Funding Account; Controlled Accumulation Period. 
 (a) (i) The Servicer, for the benefit of the
Series 2017-8 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”),
bearing a designation clearly indicating that the funds deposited therein 

  
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and the property credited thereto are held for the benefit of the Series 2017-8 Certificateholders. The Principal Funding Account shall initially be
established with The Bank of New York Mellon. 
 (ii) At the written direction of the Servicer (or its agent appointed pursuant to
Section 4.13(c)), funds on deposit in the Principal Funding Account shall be invested by the Trustee in Eligible Investments selected by the Servicer (or its agent appointed pursuant to Section 4.13(c)); provided, however, that if
no such written direction is provided, funds on deposit in the Principal Funding Account shall remain uninvested. All such Eligible Investments shall be held by the Trustee for the benefit of the Series 2017-8
Certificateholders; provided that on each Distribution Date all interest and other investment income (net of losses and investment expenses) (“Principal Funding Account Investment Proceeds”) on funds on deposit therein shall
be applied as set forth in paragraph (iii) below. Subject to the first sentence of this paragraph (a)(ii), funds on deposit in the Principal Funding Account shall be invested in Eligible Investments that will mature so that such funds will be
available at the close of business on the Transfer Date preceding the following Distribution Date. Unless the Servicer directs otherwise, funds deposited in the Principal Funding Account on a Transfer Date (which immediately precedes a Distribution
Date) upon the maturity of any Eligible Investments are not required to be invested overnight. No such Eligible Investment shall be disposed of prior to its maturity; provided, however, that the Trustee shall sell, liquidate or dispose of any
such Eligible Investment if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided further, however, that the Servicer
shall deliver prompt written notice to the Trustee of any such default; and provided further that, subject to Section 11.01 of the Agreement, the Trustee will not in any way be held liable by reason of any insufficiency in such Principal
Funding Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Trustee’s failure to make payments on such Eligible Investments issued by the Trustee, in its commercial capacity, in
accordance with their terms. 
 (iii) On each Distribution Date with respect to the Controlled Accumulation Period, the Servicer shall
direct the Trustee in writing to withdraw from the Principal Funding Account and deposit into the Collection Account all Principal Funding Account Investment Proceeds then on deposit in the Principal Funding Account and such Principal Funding
Account Investment Proceeds shall be treated as a portion of Class A Available Funds and Class B Available Funds. 
 (iv)
Reinvested interest and other investment income on funds deposited in the Principal Funding Account shall not be considered to be principal amounts on deposit therein for purposes of this Supplement. 

(b) (i) The Trustee shall possess all right, title and interest in all funds and property from time to time deposited in or credited to the
Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 2017-8 Certificateholders. If, at
any time, the Principal Funding Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency may
consent) establish a new Principal Funding Account meeting the conditions specified in paragraph (a)(i) above as an Eligible Deposit Account and shall transfer any cash or any investments to such new Principal Funding Account. 

(ii) Pursuant to the authority granted to the Servicer in subsection 3.01(b) of the Agreement, the Servicer shall have the power to make
withdrawals and payments or to instruct the Trustee to make withdrawals and payments from the Principal Funding Account for the purposes of carrying out the Servicer’s or Trustee’s duties hereunder. Pursuant to the authority granted to the
Paying Agent in Section 5.01 of this Supplement and Section 6.07 of the Agreement, the Paying Agent shall have the power to withdraw funds from the Principal Funding Account for the purpose of making distributions to the Series 2017-8 Certificateholders. 

  
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 (c) The Controlled Accumulation Period is scheduled to commence at the close of business on the
last day of the September 2018 Monthly Period; provided, however, that if the Controlled Accumulation Period Length (which shall be determined as described below) is less than 12 months, the date on which the Controlled Accumulation Period
actually commences will be delayed to the close of business on the last day of the month preceding the month that is the number of months prior to the Expected Final Payment Date at least equal to the Controlled Accumulation Period Length and, as a
result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the September 2018 Distribution Date, and on each
Determination Date thereafter that occurs prior to the Determination Date occurring in the Monthly Period in which the Controlled Accumulation Period commences, the Servicer will determine the “Controlled Accumulation Period Length”
which will equal the number of months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the
Controlled Accumulation Period Length shall not be less than one month. Notwithstanding the foregoing, if the Controlled Accumulation Period Length shall have been determined to be less than 12 months and, after the date on which such determination
is made, a Pay-Out Event or Reinvestment Event (as those terms are defined in the Supplement for such Series) shall occur with respect to any outstanding Principal Sharing Series other than Series 2017-8, the Controlled Accumulation Period will commence on the earlier of (i) the first day of the Monthly Period immediately succeeding the date that such Pay-Out Event
or Reinvestment Event shall have occurred with respect to such Series and (ii) the date on which the Controlled Accumulation Period is then scheduled to commence. 

Section 4.04. Required Amount. 

(a) With respect to each Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the
“Class A Required Amount”), if any, by which (x) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the
Class A Certificateholders on a prior Distribution Date, (iii) any Class A Additional Interest for such Distribution Date and (iv) any Class A Additional Interest previously due but not paid to the Class A
Certificateholders on a prior Distribution Date, (v) if TRS or an Affiliate of TRS is no longer the Servicer, the Class A Servicing Fee for such Distribution Date, (vi) if TRS or an Affiliate of TRS is no longer the Servicer, any
Class A Servicing Fee previously due but not paid to the Servicer, and (vii) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (y) the Class A Available Funds. In the event that the difference
between (x) the Class A Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to subsection 4.07(a) on such Distribution Date is
greater than zero, the Servicer shall give written notice to the Transferors and the Trustee of such excess Class A Required Amount on the date of computation. 

(b) With respect to each Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the
“Class B Required Amount”), if any, equal to the sum of (x) the amount, if any, by which (A) the sum of (i) Class B Monthly Interest for such Distribution Date, (ii) any Class B Monthly
Interest previously due but not paid to the Class B Certificateholders, (iii) Class B Additional Interest, if any, for such Distribution Date, (iv) any Class B Additional Interest previously due but not paid to the
Class B Certificateholders on a prior Distribution Date, (v) if TRS or an Affiliate of TRS is no longer the Servicer, the Class B Servicing Fee for such Distribution Date and (vi) if TRS or an Affiliate of TRS is no longer the
Servicer, any Class B Servicing Fee previously due but not paid to the Servicer exceeds (B) the Class B Available Funds and (y) the Class B Investor Default Amount for such Distribution Date. In the event that the difference
between (x) the Class B Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to subsection 4.07(d) on such Distribution Date is
greater than zero, the 

  
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Servicer shall give written notice to the Transferors and the Trustee of such excess Class B Required Amount on the date of computation. 

(c) With respect to each Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the “Collateral
Senior Required Amount”), if any, by which (x) the sum of (i) if TRS or an Affiliate of TRS is no longer the Servicer, the Collateral Servicing Fee for such Distribution Date, (ii) if TRS or an Affiliate of TRS is no longer
the Servicer, any Collateral Servicing Fee previously due but not paid to the Servicer, (iii) Collateral Senior Minimum Monthly Interest for such Distribution Date, (iv) any Collateral Senior Minimum Monthly Interest previously due but not
distributed to the Collateral Interest Holder on a prior Distribution Date, (v) Collateral Senior Additional Interest, if any, for such Distribution Date, and (vi) any Collateral Senior Additional Interest previously due but not
distributed to the Collateral Interest Holder on a prior Distribution Date exceeds (y) the sum of (A) the amount of Collateral Available Funds to be applied under Section 4.05(c)(i) on such Distribution Date and (B) the amount of
Excess Spread and Excess Finance Charge Collections available to be applied pursuant to subsection 4.07(f) on such Distribution Date. In the event that the Collateral Senior Required Amount is greater than zero, the Servicer shall give written
notice to the Transferors and the Trustee of such Collateral Senior Required Amount on the date of computation. 
 Section 4.05.
Application of Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal Collections. The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee
substantially in the form of Exhibit B, on each Distribution Date, Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal Collections on deposit in the Collection Account with respect to such
Distribution Date to make the following distributions: 
 (a) On each Distribution Date, an amount equal to the Class A Available Funds
with respect to such Distribution Date will be distributed or deposited in the following priority: 
 (i) an amount equal to
Class A Monthly Interest for such Distribution Date, plus the amount of any Class A Monthly Interest previously due but not distributed to Class A Certificateholders on a prior Distribution Date, plus the amount of any
Class A Additional Interest for such Distribution Date and any Class A Additional Interest previously due but not distributed to Class A Certificateholders on a prior Distribution Date, shall be distributed to the Paying Agent for
payment to the Class A Certificateholders; 
 (ii) if TRS or an Affiliate of TRS is no longer the Servicer, an amount
equal to the Class A Servicing Fee for such Distribution Date, plus the amount of any Class A Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer; 

(iii) an amount equal to the Class A Investor Default Amount for such Distribution Date shall be treated as a portion of
Available Principal Collections for such Distribution Date; and 
 (iv) the balance, if any, shall constitute Excess Spread
and shall be allocated and distributed or deposited as set forth in Section 4.07. 
 (b) On each Distribution Date, an amount equal to
the Class B Available Funds with respect to such Distribution Date will be distributed or deposited in the following priority: 

(i) an amount equal to Class B Monthly Interest for such Distribution Date, plus the amount of any Class B
Monthly Interest previously due but not distributed to 

  
 22 

 
Class B Certificateholders on a prior Distribution Date, plus the amount of any Class B Additional Interest for such Distribution Date and any Class B Additional Interest
previously due but not distributed to Class B Certificateholders on a prior Distribution Date, shall be distributed to the Paying Agent for payment to the Class B Certificateholders; 

(ii) if TRS or an Affiliate of TRS is no longer the Servicer, an amount equal to the Class B Servicing Fee for such
Distribution Date, plus the amount of any Class B Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer; and 

(iii) the balance, if any, shall constitute Excess Spread and shall be allocated and distributed or deposited as set forth in
Section 4.07. 
 (c) On each Distribution Date, an amount equal to the Collateral Available Funds with respect to such Distribution Date
will be distributed or deposited in the following priority: 
 (i) if TRS or an Affiliate of TRS is no longer the Servicer,
an amount equal to the Collateral Servicing Fee for such Distribution Date, plus the amount of any Collateral Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer;
and 
 (ii) the balance, if any, shall constitute Excess Spread and shall be allocated and distributed or deposited as set
forth in Section 4.07. 
 (d) On each Distribution Date with respect to the Revolving Period, an amount equal to the Available Principal
Collections deposited in the Collection Account for the related Monthly Period shall be treated as Shared Principal Collections and applied in accordance with Section 4.04 of the Agreement. 

(e) On each Distribution Date with respect to the Controlled Accumulation Period, an amount equal to the Available Principal Collections
deposited in the Collection Account for the related Monthly Period shall be distributed in the following order of priority: 

(i) an amount equal to the lesser of (x) the Controlled Deposit Amount and (y) the sum of the Class A Adjusted
Invested Amount and the Class B Adjusted Invested Amount shall be deposited in the Principal Funding Account; 
 (ii)
for each Distribution Date beginning on the Distribution Date on which the Class B Invested Amount shall have been paid in full, an amount up to the Collateral Invested Amount shall be distributed to the Collateral Interest Holder; and 

(iii) the balance of such Available Principal Collections shall be treated as Shared Principal Collections and applied in
accordance with Section 4.04 of the Agreement. 
 (f) On each Distribution Date with respect to the Early Amortization Period, an amount
equal to Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be distributed or deposited in the following order of priority: 

(i) an amount up to the Class A Adjusted Invested Amount on such Distribution Date shall be deposited in the Principal
Funding Account for distribution to the Class A Certificateholders; 

  
 23 

 (ii) for each Distribution Date beginning on the Distribution Date on which the
Class A Invested Amount is paid in full, an amount up to the Class B Adjusted Invested Amount on such Distribution Date shall be deposited in the Principal Funding Account for distribution to the Class B Certificateholders; 

(iii) for each Distribution Date beginning on the Distribution Date on which the Class B Invested Amount is paid in full,
an amount up to the Collateral Invested Amount on such Distribution Date shall be distributed to the Collateral Interest Holder; and 

(iv) for each Distribution Date, after giving effect to paragraphs (i), (ii) and (iii) above, an amount equal to the
balance, if any, of such Available Principal Collections will be treated as Shared Principal Collections and applied in accordance with Section 4.04 of the Agreement. 

Section 4.06. Defaulted Amounts; Investor Charge-Offs. 

(a) On each Determination Date, the Servicer shall calculate the Class A Investor Default Amount, if any, for the related Distribution
Date. If, on any Distribution Date, the Class A Required Amount for the related Monthly Period exceeds the sum of (x) the amount of Reallocated Principal Collections allocated to Series 2017-8 with
respect to such Monthly Period and (y) the amount of Excess Spread and the Excess Finance Charge Collections allocable to Series 2017-8 with respect to such Monthly Period, the Collateral Invested Amount,
if any, will be reduced by the amount of such excess, but not by more than the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the
Collateral Invested Amount will be reduced to zero and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the
Class A Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date. In the event that such reduction would cause the Class B
Invested Amount to be a negative number, the Class B Invested Amount shall be reduced to zero, and the Class A Invested Amount shall be reduced by the amount by which the Class B Invested Amount would have been reduced below zero, but
not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the aggregate amount of the reductions, if any, of the Collateral Invested Amount and the Class B Invested Amount for such
Distribution Date (a “Class A Investor Charge-Off”). Class A Investor Charge-Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by
an amount in excess of the aggregate unreimbursed Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose pursuant to subsection
4.07(b). References to “negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below zero. 

(b) On each Determination Date, the Servicer shall calculate the Class B Investor Default Amount, if any, for the related Distribution
Date. If, on any Distribution Date, the Class B Required Amount for such Distribution Date exceeds the sum of (x) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series
2017-8 with respect to the related Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(d) and (y) the Reallocated Principal Collections allocable to the
Collateral Interest and not required to pay the Class A Required Amount with respect to such Distribution Date, then the Collateral Invested Amount shall be reduced by the amount of such excess. In the event that such reduction would cause the
Collateral Invested Amount to be a negative number, the Collateral Invested Amount shall be reduced to zero, and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below
zero, but not by more than the excess, if any, of the Class B Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral 

  
 24 

 
Invested Amount with respect to such Distribution Date (a “Class B Investor Charge-Off”). Class B Investor Charge-Offs
shall thereafter be reimbursed and the Class B Invested Amount increased (but not by an amount in excess of the aggregate unreimbursed Class B Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance
Charge Collections allocated and available for that purpose pursuant to subsection 4.07(e). References to “negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be
reduced below zero. 
 (c) On each Determination Date, the Servicer shall calculate the Collateral Default Amount. If on any Distribution
Date the Collateral Default Amount for the previous Monthly Period exceeds the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2017-8 with respect to the related Monthly
Period which are allocated and available to pay such amount pursuant to subsection 4.07(h), the Collateral Invested Amount will be reduced by the amount of such excess but not by more than the lesser of the Collateral Default Amount and the
Collateral Invested Amount for such Distribution Date (a “Collateral Charge-Off”). The Collateral Invested Amount will be reimbursed after any reduction pursuant to this Section 4.06
on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available on such Distribution date for that purpose as described under subsection 4.07(i). 

Section 4.07. Excess Spread; Excess Finance Charge Collections. The Servicer shall apply, or shall cause
the Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 2017-8 with
respect to the related Monthly Period, to make the following distributions or deposits in the following order of priority: 
 (a) an amount
equal to the Class A Required Amount, if any, with respect to such Distribution Date shall be distributed by the Trustee to fund the Class A Required Amount in accordance with, and in the priority set forth in, subsections 4.05(a)(i), (ii)
and (iii); 
 (b) an amount equal to the aggregate amount of Class A Investor Charge-Offs which have not been previously reimbursed
shall be treated as a portion of Available Principal Collections for such Distribution Date; 
 (c) an amount equal to interest on the
aggregate outstanding principal balance of the Class B Certificates not otherwise distributed to the Class B Certificateholders pursuant to Section 4.05(b)(i), at a rate per annum equal to the Class B Certificate Rate,
shall be distributed to the Class B Certificateholders, except that interest previously due but not paid will accrue interest at a rate per annum equal to the Class B Certificate Rate plus 2% per annum; 

(d) an amount equal to the Class B Required Amount, if any, with respect to such Distribution Date will be (i) used to fund the
Class B Required Amount and be applied in accordance with subsections 4.05(b)(i) and 4.05(b)(ii), and then (ii) an amount up to the Class B Investor Default Amount will be treated and applied as Available Principal Collections
for such Distribution Date; 
 (e) an amount equal to the aggregate amount by which the Class B Invested Amount has been reduced
pursuant to clauses (c), (d) and (e) of the definition of “Class B Invested Amount” in Section 2.01 of this Supplement (but not in excess of the aggregate amount of such reductions which have not been previously reimbursed)
shall be treated as a portion of Available Principal Collections for such Distribution Date; 
 (f) an amount equal to Collateral Senior
Minimum Monthly Interest for such Distribution Date, plus the amount of any Collateral Senior Minimum Monthly Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, plus the amount
of any Collateral Senior Additional Interest for such Distribution Date and any Collateral Senior Additional 

  
 25 

 
Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, shall be distributed to the Collateral Interest Holder; 

(g) an amount equal to the Monthly Servicing Fee for such Distribution Date that has not been paid to the Servicer and any Monthly Servicing
Fee due but not paid to the Servicer on a prior Distribution Date shall be paid to the Servicer; 
 (h) an amount equal to the Collateral
Default Amount, if any, for such Distribution Date shall be treated as a portion of Available Principal Collections for such Distribution Date; 

(i) an amount equal to the aggregate amount by which the Collateral Invested Amount has been reduced pursuant to clauses (c), (d) and
(e) of the definition of “Collateral Invested Amount” (but not in excess of the aggregate amount of such reductions which have not been previously reimbursed) shall be treated as a portion of Available Principal Collections for such
Distribution Date; 
 (j) on each Distribution Date from and after the Reserve Account Funding Date, but prior to the date on which the
Reserve Account terminates pursuant to subsection 4.12(f), an amount up to the excess, if any, of the Required Reserve Account Amount over the Available Reserve Account Amount shall be deposited into the Reserve Account; and 

(k) the balance, if any, will be distributed to the Collateral Interest Holder. 

Section 4.08. Reallocated Principal Collections. On each Distribution Date, the Servicer shall apply, or shall cause the
Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, Reallocated Principal Collections with respect to such Distribution Date, to make the following distributions or deposits in the following order of
priority: 
 (a) an amount equal to the excess, if any, of (i) the Class A Required Amount, if any, with respect to such
Distribution Date over (ii) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2017-8 with respect to the related Monthly Period shall be distributed by the Trustee to
fund any deficiency pursuant to and in the priority set forth in subsections 4.05(a)(i), (ii) and (iii); 
 (b) an amount equal to the
excess, if any, of (i) the Class B Required Amount, if any, with respect to such Distribution Date over (ii) the amount of Excess Spread and Excess Finance Charge Collections allocated and available to the Class B Certificates
pursuant to subsections 4.07(c) and (d) on such Distribution Date shall be applied first to fund any deficiency pursuant to subsections 4.05(b)(i) and (ii) and then to fund any deficiency pursuant to and in the priority set forth in
subsections 4.07(c) and (d); and 
 (c) an amount equal to the Collateral Senior Required Amount, if any, with respect to such Distribution
Date shall be applied to fund any deficiency pursuant to subsection 4.05(c)(i) and subsection 4.07(f), in that order of priority; provided, however, that Reallocated Principal Collections shall only be applied pursuant to this
subsection 4.08(c) to the extent the Collateral Invested Amount shall be no lower than the Collateral Senior Invested Amount after giving effect to the related reduction in the Collateral Invested Amount. 

All Reallocated Principal Collections with respect to the Collateral Invested Amount shall be applied prior to applying any such Reallocated
Principal Collections with respect to the Class B Invested Amount. Only Reallocated Principal Collections with respect to the Collateral Invested Amount shall be applied pursuant to clauses (b) or (c) above. 

  
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 On each Distribution Date, the Collateral Invested Amount shall be reduced by the amount of
Reallocated Principal Collections for such Distribution Date; provided, however, that the Collateral Invested Amount shall not be reduced below the Collateral Senior Invested Amount in connection with the application of Reallocated
Principal Collections pursuant to subsection 4.08(c). In the event that such reduction would cause the Collateral Invested Amount (after giving effect to any Collateral Charge-Offs for such Distribution Date) to be a negative number, the Collateral
Invested Amount (after giving effect to any Collateral Charge-Offs for such Distribution Date) shall be reduced to zero and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been
reduced below zero. In the event that the reallocation of Reallocated Principal Collections would cause the Class B Invested Amount (after giving effect to any Class B Investor Charge-Offs for such Distribution Date) to be a negative
number on any Distribution Date, Reallocated Principal Collections shall be reallocated on such Distribution Date in an aggregate amount not to exceed the amount which would cause the Class B Invested Amount (after giving effect to any
Class B Investor Charge-Offs for such Distribution Date) to be reduced to zero. References to “negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below
zero. 
 Section 4.09. Excess Finance Charge Collections. Series 2017-8
shall be an Excess Allocation Series. Subject to Section 4.05 of the Agreement, Excess Finance Charge Collections with respect to the Excess Allocation Series for any Distribution Date will be allocated to Series
2017-8 in an amount equal to the product of (x) the aggregate amount of Excess Finance Charge Collections with respect to all the Excess Allocation Series for such Distribution Date and (y) a
fraction, the numerator of which is the Finance Charge Shortfall for Series 2017-8 for such Distribution Date and the denominator of which is the aggregate amount of Finance Charge Shortfalls for all the
Excess Allocation Series for such Distribution Date. The “Finance Charge Shortfall” for Series 2017-8 for any Distribution Date will be equal to the excess, if any, of (a) the
full amount required to be paid, without duplication, pursuant to subsections 4.05(a), 4.05(b) and 4.05(c) and subsections 4.07(a) through (j) on such Distribution Date and the full amount required to be paid, without duplication, pursuant to
subsections 3.02(a)(iii) and 3.02(a)(iv) of the Transfer Agreement on the related Payment Date (as such term is defined in the Transfer Agreement) over (b) the sum of (i) the Reallocated Investor Finance Charge Collections, (ii) if
such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period or Early Amortization Period, the amount of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date and
(iii) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date. The amount of Excess Finance
Charge Collections for Series 2017-8 for any Distribution Date shall be specified in subsection 3.02(a)(v) of the Transfer Agreement. On each Distribution Date, the Trustee shall deposit into the Collection
Account for application in accordance with Section 4.05 of the Agreement the aggregate amount of Excess Finance Charge Collections received by the Trustee pursuant to the Transfer Agreement on such date. 

Section 4.10. Reallocated Investor Finance Charge Collections. 

(a) That portion of Group II Investor Finance Charge Collections for any Distribution Date equal to the amount of Reallocated Investor Finance
Charge Collections for such Distribution Date will be allocated to Series 2017-8 and will be distributed as set forth in this Supplement. 

(b) Reallocated Investor Finance Charge Collections with respect to any Distribution Date shall equal the sum of (i) the aggregate amount
of Series 2017-8 Monthly Interest, Investor Default Amount, Series 2017-8 Monthly Fees and Series 2017-8 Additional Amounts for
such Distribution Date and (ii) that portion of excess Group II Investor Finance Charge Collections to be included in Reallocated Investor Finance Charge Collections pursuant to subsection (c) hereof; provided, however, that if the
amount of Group II Investor Finance Charge Collections for such Distribution Date is less than the sum of (w) Group II Investor Monthly Interest, (x) Group II Investor Default Amount, (y) Group II Investor

  
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Monthly Fees and (z) Group II Investor Additional Amounts, then Reallocated Investor Finance Charge Collections shall equal the sum of the following amounts for such Distribution Date: 

(A) The product of (I) Group II Investor Finance Charge Collections (up to the amount of Group II Investor Monthly
Interest) and (II) a fraction, the numerator of which is Series 2017-8 Monthly Interest and the denominator of which is Group II Investor Monthly Interest; 

(B) the product of (I) Group II Investor Finance Charge Collections less the amount of Group II Investor Monthly Interest
(up to the Group II Investor Default Amount) and (II) a fraction, the numerator of which is the Investor Default Amount and the denominator of which is the Group II Investor Default Amount; 

(C) the product of (I) Group II Investor Finance Charge Collections less the amount of Group II Investor Monthly Interest
and the Group II Investor Default Amount (up to Group II Investor Monthly Fees) and (II) a fraction, the numerator of which is Series 2017-8 Monthly Fees and the denominator of which is Group II Investor
Monthly Fees; and 
 (D) the product of (I) Group II Investor Finance Charge Collections less the sum of (i) Group
II Investor Monthly Interest, (ii) the Group II Investor Default Amount and (iii) Group II Investor Monthly Fees and (II) a fraction, the numerator of which is Series 2017-8 Additional Amounts
and the denominator of which is Group II Investor Additional Amounts. 
 (c) If the amount of Group II Investor Finance Charge Collections
for such Distribution Date exceeds the sum of (i) Group II Investor Monthly Interest, (ii) Group II Investor Default Amount, (iii) Group II Investor Monthly Fees and (iv) Group II Investor Additional Amounts, then Reallocated
Investor Finance Charge Collections for such Distribution Date shall include an amount equal to the product of (x) the amount of such excess and (y) a fraction, the numerator of which is the Invested Amount as of the last day of the second
preceding Monthly Period (or, for Series 2017-8 only, with respect to the first Distribution Date, as of the Closing Date) and the denominator of which is the sum of such Invested Amount and the aggregate
invested amounts for all other Series included in Group II as of such last day (or, for Series 2017-8 only, with respect to the first Distribution Date, as of the Closing Date). 

Section 4.11. Shared Principal Collections. Subject to Section 4.04 of the Agreement, Shared Principal Collections
for any Distribution Date will be allocated to Series 2017-8 in an amount equal to the product of (x) the aggregate amount of Shared Principal Collections with respect to all Principal Sharing Series for
such Distribution Date and (y) a fraction, the numerator of which is the Series 2017-8 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal
Shortfalls for all the Series which are Principal Sharing Series for such Distribution Date. The “Series 2017-8 Principal Shortfall” will be equal to (a) for any
Distribution Date with respect to the Revolving Period, zero, (b) for any Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount with respect to such Distribution Date over the
amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections), and (c) for any Distribution Date with respect to the Early Amortization Period, the excess, if
any, of the Invested Amount over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections). 

  
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 Section 4.12. Reserve Account. 

(a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 2017-8 Certificateholders, an Eligible Deposit Account (the “Reserve Account”) bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are
held for the benefit of the Series 2017-8 Certificateholders. The Reserve Account shall initially be established with The Bank of New York Mellon. The Trustee shall possess all right, title and interest in all
funds and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 2017-8 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such longer period, not to exceed
30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments to such new Reserve Account. The
Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth in this Supplement, and
(ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in accordance with, subsection
4.07(j). 
 (b) Funds on deposit in the Reserve Account shall be invested at the written direction of the Servicer (or its agent appointed
pursuant to Section 4.13(c)) by the Trustee in Eligible Investments; provided, however, that if no such written direction is provided, funds on deposit in the Reserve Account shall remain uninvested. Subject to the immediately preceding
sentence, funds on deposit in the Reserve Account on any Transfer Date, after giving effect to any withdrawals from the Reserve Account on such Transfer Date, shall be invested in such investments that will mature so that such funds will be
available for withdrawal on or prior to the following Transfer Date. No such Eligible Investment shall be disposed of prior to its maturity; provided, however, that the Trustee shall sell, liquidate or dispose of any such Eligible Investment
if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided further, however, that the Servicer shall deliver prompt
written notice to the Trustee of any such default; and provided further that, subject to Section 11.01 of the Agreement, the Trustee will not in any way be held liable by reason of any insufficiency in such Reserve Account resulting from
any loss on any Eligible Investment included therein except for losses attributable to the Trustee’s failure to make payments on such Eligible Investments issued by the Trustee, in its commercial capacity, in accordance with their terms. On
each Distribution Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Distribution Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account (to the extent that the
Available Reserve Account Amount is less than the Required Reserve Account Amount) and the balance, if any, shall be deposited in the Collection Account and treated as collections of Finance Charge Receivables allocable to Series 2017-8. For purposes of determining the availability of funds or the balance in the Reserve Account for any reason under this Supplement, except as otherwise provided in the preceding sentence, investment earnings
on such funds shall be deemed not to be available or on deposit. 
 (c) On the Determination Date preceding each Distribution Date with
respect to the Controlled Accumulation Period and the first Special Payment Date, the Servicer shall calculate the “Reserve Draw Amount” which shall be equal to the excess, if any, of the Covered Amount with respect to
such Distribution Date or Special Payment Date over the Principal Funding Account Investment Proceeds with respect to such Distribution Date or Special Payment Date; provided, that such amount will be reduced to the extent that
funds otherwise would be available for deposit in the Reserve Account under subsection 4.07(j) with respect to such Distribution Date or Special Payment Date. 

  
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 (d) In the event that for any Distribution Date the Reserve Draw Amount is greater than zero, the
Reserve Draw Amount, up to the Available Reserve Account Amount, shall be withdrawn from the Reserve Account on the related Transfer Date by the Trustee (acting in accordance with the instructions of the Servicer), deposited into the Collection
Account and included in Class A Available Funds for such Distribution Date. 
 (e) In the event that the Reserve Account Surplus on any
Distribution Date, after giving effect to all deposits to and withdrawals from the Reserve Account with respect to such Distribution Date, is greater than zero, the Trustee, acting in accordance with the written instructions of the Servicer, shall
withdraw from the Reserve Account, and distribute to the Collateral Interest Holder, an amount equal to such Reserve Account Surplus. 
 (f)
Upon the earliest to occur of (i) the day on which the Invested Amount is paid in full to the Series 2017-8 Certificateholders, (ii) if the Controlled Accumulation Period has not commenced, the
occurrence of a Pay-Out Event with respect to Series 2017-8, (iii) if the Controlled Accumulation Period has commenced, the earlier of the first Special Payment Date and
the Expected Final Payment Date and (iv) the termination of the Trust pursuant to the Agreement, the Trustee, acting in accordance with the instructions of the Servicer, after the prior payment of all amounts owing to the Class A
Certificateholders which are payable from the Reserve Account as provided herein, shall withdraw from the Reserve Account and pay to the Collateral Interest Holder all amounts, if any, on deposit in the Reserve Account and the Reserve Account shall
be deemed to have terminated for purposes of this Supplement. 
 Section 4.13. Investment Instructions. 

(a) Any investment instructions required to be given to the Trustee pursuant to the terms hereof must be given to the Trustee no later than
10:30 a.m. (New York City time) on the date such investment is to be made. In the event the Trustee receives such investment instruction later than such time, the Trustee may, but shall have no obligation to, make such investment. In the event the
Trustee is unable to make an investment required in an investment instruction received by the Trustee after 10:30 a.m. (New York City time) on such day, such investment shall be made by the Trustee on the next succeeding Business Day. In no event
shall the Trustee be liable for any investment not made pursuant to investment instructions received after 10:30 a.m. (New York City time) on the day such investment is requested to be made. 

(b) The Trustee shall hold each Eligible Investment that constitutes investment property through a securities intermediary, which securities
intermediary shall agree with the Trustee that (i) such investment property at all times shall be credited to a securities account of the Trustee, (ii) all property credited to such securities account shall be treated as a financial asset,
(iii) such securities intermediary shall treat the Trustee as entitled to exercise the rights that comprise each financial asset credited to such securities account, (iv) such securities intermediary shall comply with entitlement orders
originated by the Trustee without the further consent of any other person or entity, (v) such securities intermediary shall not agree with any person or entity other than the Trustee to comply with entitlement orders originated by any person or
entity other than the Trustee, (vi) such securities account and all property credited thereto shall not be subject to any lien, security interest, right of set-off, or encumbrance in favor of such
securities intermediary or anyone claiming through such securities intermediary (other than the Trustee), (vii) such agreement between such securities intermediary and the Trustee shall be governed by the laws of the State of New York, and
(viii) such securities intermediary’s jurisdiction for purposes of the Uniform Commercial Code shall be the State of New York. The Trustee shall maintain possession of each other Eligible Investment in the State of New York, separate and
apart from all other property held by the Trustee. Notwithstanding any other provision of this Supplement, the Trustee shall not hold any Eligible Investment through an agent except as expressly permitted by this Section 4.13(b).

  
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Each term used in this Section 4.13(b) and defined in the New York Uniform Commercial Code shall have the meaning set forth in the New York Uniform Commercial Code. 

(c) With respect to investments made by the Trustee pursuant to the terms hereof, the Servicer may appoint as its agent under a separate
agreement a registered investment advisor and authorize such agent to give instructions, which may be provided to the Trustee through S.W.I.F.T., on behalf of the Servicer to the Trustee for funds to be invested and reinvested in one or more
Eligible Investments. The Servicer shall provide the Trustee with a written direction certifying any such appointment. The Trustee shall be entitled to conclusively rely on, and shall be protected in acting upon, instructions, which may be provided
to the Trustee through S.W.I.F.T., received from such agent on behalf of the Servicer. 
 Section 4.14. Determination of LIBOR.

 (a) On each LIBOR Determination Date, the Trustee will determine LIBOR for the related Interest Accrual Period, which shall be the rate
for deposits in United States dollars for a period equal to one month (commencing on the first day of such Interest Accrual Period) that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on such date. Upon such determination, the
Trustee shall notify the Servicer of LIBOR for such LIBOR Determination Date. If such rate does not appear on Reuters Screen LIBOR01 Page, the rate for the LIBOR Determination Date will 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 period equal to one month (commencing on the first day of such Interest Accrual
Period). The Servicer will 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 will 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 Servicer, at approximately 11:00
a.m., New York City time, on that day for loans in United States dollars to leading European banks for a period equal to one month (commencing on the first day of such Interest Accrual Period). If the banks selected by the Servicer are not quoting
rates as provided in the immediately preceding sentence, LIBOR for such Interest Accrual Period will be LIBOR in effect for the immediately preceding Interest Accrual Period. 

(b) The Servicer shall determine, and promptly notify the Transferors and the Trustee of, the Class A Certificate Rate and the
Class B Certificate Rate for the applicable Interest Accrual Period. The Class A Certificate Rate and Class B Certificate Rate applicable to the then current and the immediately preceding Interest Accrual Periods may be obtained by
any Investor Certificateholder by telephoning the Trustee at its Corporate Trust Office at (212) 815-6258. 

(c) On each LIBOR Determination Date prior to 3:00 p.m., New York City time, the Trustee shall send to the Transferors and the Servicer by
facsimile, notification of LIBOR for the following Interest Accrual Period. 
 ARTICLE V 

Distributions and Reports to 

Series 2017-8 Certificateholders 

Section 5.01. Distributions. 

(a) On each Distribution Date, the Paying Agent shall distribute to each Class A Certificateholder of record on the related Record Date
(other than as provided in Section 12.02 of the Agreement) such Class A Certificateholder’s pro rata share of the amounts held by the Paying Agent that 

  
 31 

 
are allocated and available on such Distribution Date to pay interest on the Class A Certificates pursuant to this Supplement. 

(b) On each Special Payment Date and on the Expected Final Payment Date, the Paying Agent shall distribute (in accordance with the Certificate
delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class A Certificateholder of record on the related Record Date (other than as provided in Section 12.02 of the Agreement) such Class A
Certificateholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such date to pay principal of the Class A Certificates pursuant
to this Supplement up to a maximum amount on any such date equal to the Class A Invested Amount on such date (unless there has been an optional repurchase of the Series 2017-8 Certificateholders’
Interest pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply). 
 (c) On each
Distribution Date, the Paying Agent shall distribute (in accordance with the Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class B Certificateholder of record on the related Record Date (other
than as provided in Section 12.02 of the Agreement) such Class B Certificateholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Distribution Date to pay interest on the
Class B Certificates pursuant to this Supplement. 
 (d) On each Special Payment Date, and on the Expected Final Payment Date, the
Paying Agent shall distribute (in accordance with the Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class B Certificateholder of record on the related Record Date (other than as provided in
Section 12.02 of the Agreement) such Class B Certificateholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such date to
pay principal of the Class B Certificates pursuant to this Supplement up to a maximum amount on any such date equal to the Class B Invested Amount on such date (unless there has been an optional repurchase of the Series 2017-8 Certificateholders’ Interest pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply). 

(e) On each Distribution Date, the Trustee shall distribute to the Collateral Interest Holder the aggregate amount payable to the Collateral
Interest Holder pursuant to Sections 4.05, 4.07, 4.12, 8.01 and 8.02 to the Collateral Interest Holder’s account, as specified in writing by the Collateral Interest Holder, in immediately available funds. 

(f) The distributions to be made pursuant to this Section 5.01 are subject to the provisions of Sections 2.06, 9.02, 10.01 and 12.02 of
the Agreement and Sections 8.01 and 8.02 of this Supplement. 
 (g) Except as provided in Section 12.02 of the Agreement with respect to
a final distribution, distributions to Series 2017-8 Certificateholders hereunder shall be made by check mailed to each Series 2017-8 Certificateholder at such Series 2017-8 Certificateholder’s address appearing in the Certificate Register without presentation or surrender of any Series 2017-8 Certificate or the making of any notation
thereon; provided, however, that with respect to Series 2017-8 Certificates registered in the name of a Clearing Agency, such distributions shall be made to such Clearing Agency in immediately available
funds. 
 (h) The distributions to be made pursuant to this Section 5.01 are to be made pursuant to the written instructions of the
Servicer substantially in the form of Exhibit B. 

  
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 Section 5.02.
Reports and Statements to Series 2017-8 Certificateholders. 

(a) On each Distribution Date, the Paying Agent, on behalf of the Trustee, shall make available, and shall forward to each Series 2017-8 Certificateholder upon request, a statement substantially in the form of Exhibit C-1 to this Supplement prepared by the Servicer and delivered to the Paying
Agent. 
 (b) Not later than each Determination Date, the Servicer shall deliver to the Trustee, the Paying Agent, the Transferors, each
Rating Agency and the Collateral Interest Holder (i) a statement substantially in the form of Exhibit C-1 to this Supplement prepared by the Servicer and (ii) a certificate of a Servicing Officer
substantially in the form of Exhibit D. 
 (c) A copy of each statement or certificate provided pursuant to paragraph (a) or (b)
may be obtained by any Series 2017-8 Certificateholder or any Certificate Owner thereof by a request in writing to the Servicer. 

(d) On or before January 31 of each calendar year, beginning with calendar year 2018, the Paying Agent, on behalf of the Trustee, shall
furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 2017-8 Certificateholder, a statement substantially in the form of Exhibit C-2 to this Supplement to the extent prepared by the Servicer and delivered to the Paying Agent for such calendar year or the applicable portion thereof during which such Person was a Series 2017-8 Certificateholder, together with such information as is required to be provided by a paying agent under the Code (including Forms 1099 and other customary tax reporting information) and, to the extent
prepared by the Servicer and delivered to the Paying Agent, such other information as is required to be provided by an issuer of indebtedness under the Code. The obligations of the Servicer and Paying Agent to prepare and deliver the statement
substantially in the form of Exhibit C-2 to this Supplement shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Paying Agent pursuant
to any requirements of the Code as from time to time in effect. 
 ARTICLE VI 

Pay-Out Events 

Section 6.01. Pay-Out Events. If any one of the following events shall occur with
respect to the Series 2017-8 Certificates: 
 (a) the occurrence of an Insolvency Event relating to
any Transferor or other holder of the Original Transferor Certificate; 
 (b) the Trust becomes an investment company within the meaning of
the Investment Company Act; 
 (c) failure on the part of any Transferor (i) to make any payment or deposit required by the terms of the
Agreement or this Supplement on or before the date occurring five Business Days after the date such payment or deposit is required to be made therein or herein or (ii) duly to observe or perform any other covenants or agreements of the
Transferors set forth in the Agreement or this Supplement, which failure has a material adverse effect on the Series 2017-8 Certificateholders and which continues unremedied for a period of 60 days after the
date on which written notice of such failure, requiring the same to be remedied, shall have been given to such Transferor by the Trustee, or to the Transferors and the Trustee by any Holder of the Series
2017-8 Certificates; 

  
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 (d) any representation or warranty made by any Transferor in the Agreement or this Supplement, or
any information contained in a computer file or microfiche list required to be delivered by any Transferor pursuant to Section 2.01 or subsection 2.08(f) of the Agreement shall prove to have been incorrect in any material respect when made or
when delivered, which continues to be incorrect in any material respect for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to such Transferor by the Trustee, or to
such Transferor and the Trustee by any Holder of the Series 2017-8 Certificates and as a result of which the interests of the Series 2017-8 Certificateholders are
materially and adversely affected for such period; provided, however, that a Pay-Out Event pursuant to this subsection 6.01(d) shall not be deemed to have occurred hereunder if a Transferor has accepted
reassignment of the related Receivable, or all of such Receivables, if applicable, during such period (or such longer period not to exceed an additional 60 days as the Trustee may specify) in accordance with the provisions of the Agreement; 

(e) a failure by a Transferor to convey Receivables in Additional Accounts or Participation Interests to the Trust within five Business Days
after the day on which it is required to convey such Receivables or Participation Interests pursuant to subsection 2.09(a) of the Agreement; 

(f) any Servicer Default which would have an Adverse Effect shall occur; 

(g) the average Series Adjusted Portfolio Yield for any three consecutive Monthly Periods is reduced to a rate which is less than the average
of the Base Rates for such period; 
 (h) the Class A Invested Amount, the Class B Invested Amount or the Collateral Invested
Amount shall not be paid in full on the Expected Final Payment Date; 
 (i) a Transfer Restriction Event shall occur; 

(j) the occurrence of an Insolvency Event as defined in the Receivables Purchase Agreement relating to any Account Owner; or 

(k) a Transfer Restriction Event as defined in the Receivables Purchase Agreements shall occur between an Account Owner and the related
Transferor; 
 then, (A) in the case of any event described in subparagraph (c), (d) or (f), after the applicable grace period, if any, set forth in
such subparagraphs, either the Trustee or the Investor Certificateholders of this Series evidencing more than 50% of the aggregate unpaid principal amount of the Investor Certificates of this Series by notice then given in writing to the Transferors
and the Servicer (and to the Trustee if given by the Investor Certificateholders of this Series) may declare that a Pay-Out Event has occurred with respect to this Series as of the date of such notice;
(B) in the case of any event described in subparagraph (b), (e), (g) or (h), a Pay-Out Event shall occur with respect to this Series without any notice or other action on the part of the Trustee or the
Investor Certificateholders of this Series immediately upon the occurrence of such event; and (C) in the case of any event described in subparagraph (a), (i), (j) or (k), a Pay-Out Event shall occur with
respect to this Series without any notice or other action on the part of the Trustee or the Investor Certificateholders of this Series immediately upon the occurrence of such event (or, in the case of clause (y) below, immediately following the
expiration of the 60-day grace period), but only to the extent that (x) as of the date of such event, the average of the Monthly Receivables Percentage for the immediately preceding three Monthly Periods
is equal to or greater than 10% or (y) as of the date of such event, the average of the Monthly Receivables Percentage for the immediately preceding three Monthly Periods is less than 10%, and within 60 days following the occurrence of the
related Insolvency Event or Transfer Restriction Event, the aggregate amount of Principal Receivables outstanding in the Trust does not at least equal the Required Minimum Principal Balance (without giving effect to Principal Receivables
attributable to the Transferor or the Account Owner with respect to which the Insolvency Event or the Transfer Restriction Event has occurred). 

  
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 ARTICLE VII 

Optional Repurchase; Series Termination 

Section 7.01. Optional Repurchase. 

(a) So long as a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on which the Invested
Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 2017-8 Certificateholders’ Interest, at a purchase price equal to (i) if
such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on which a Transferor
exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 2017-8 Certificateholders’ Interest is not rated at least in the third highest rating category by
the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance statute, if any, and set forth the
factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. 

(b) The Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the Transferors intend
to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is subject to payment
in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 2017-8 shall be reduced to zero
and the Series 2017-8 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b). 

Section 7.02. Series Termination. 

(a) If, on the March 2022 Distribution Date, the Invested Amount (after giving effect to all changes therein on such date) would be greater
than zero, the Servicer, on behalf of the Trustee, shall, within the 40-day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge
Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Series 2017-8 Termination Date (after giving effect to
all distributions required to be made on the Series 2017-8 Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to subsection 7.02(b)) occur on
the Series 2017-8 Termination Date. No Transferor, any Affiliate thereof, any agent thereof or any other party consolidated with such Transferor for purposes of United States generally accepted accounting
principles shall be entitled to participate in such bidding process or to purchase the Receivables; provided, however, that, to the extent the Collateral Interest Holder is not a Transferor, an Affiliate thereof, an agent thereof or
any other party consolidated with a Transferor for purposes of United States generally accepted accounting principles, the Collateral Interest Holder may participate in such bidding process. 

(b) The Servicer, on behalf of the Trustee, shall sell such Receivables (or interests therein) on the Series
2017-8 Termination Date to the bidder who made the highest cash purchase offer. The proceeds of any such sale shall be treated as Collections on the Receivables allocated to the Series 2017-8 Certificateholders pursuant to the Agreement and this Supplement; provided, however, that the Servicer shall determine conclusively the amount of such proceeds which are allocable to Finance Charge
Receivables and the amount of such proceeds which are allocable to Principal Receivables. During the period from the March 2022 Distribution Date to the Series 2017-8 Termination Date, the Servicer shall

  
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continue to collect payments on the Receivables and allocate and deposit such Collections in accordance with the provisions of the Agreement and the Supplements. 

ARTICLE VIII 

Final Distributions 

Section 8.01. Sale of Receivables or Certificateholders’ Interest pursuant to Section 2.06 or 10.01 of the Agreement and
Section 7.01 or 7.02 of this Supplement. 
 (a) (i) The amount to be paid by the Transferors with respect to Series 2017-8 in connection with a reassignment of Receivables to the Transferors pursuant to Section 2.06 of the Agreement shall equal the Reassignment Amount for the first Distribution Date following the Monthly
Period in which the reassignment obligation arises under the Agreement. 
 (ii) The amount to be paid by the Transferors with
respect to Series 2017-8 in connection with a repurchase of the Certificateholders’ Interest pursuant to Section 10.01 of the Agreement shall equal the sum of (x) the Reassignment Amount for the
Distribution Date of such repurchase and (y) the sum of (A) the excess, if any, of (I) a price equivalent to the average of bids quoted on the Record Date preceding the date of repurchase or, if not a Business Day, on the next
succeeding Business Day by at least two recognized dealers selected by the Trustee for the purchase by such dealers of a security which is similar to the Class A Certificates with a remaining maturity approximately equal to the remaining
maturity of the Class A Certificates and rated by each Rating Agency in the rating category originally assigned to the Class A Certificates over (II) the portion of the Reassignment Amount attributable to the Class A Certificates
and (B) the excess, if any, of (I) a price equivalent to the average of bids quoted on such Record Date, or if not a Business Day, on the next succeeding Business Day by at least two recognized dealers selected by the Trustee for the
purchase by such dealers of a security which is similar to the Class B Certificates with a remaining maturity approximately equal to the remaining maturity of the Class B Certificates and rated by each Rating Agency in the rating category
originally assigned to the Class B Certificates over (II) the portion of the Reassignment Amount attributable to the Class B Certificates. 

(b) With respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 or any amounts allocable to the
Series 2017-8 Certificateholders’ Interest deposited into the Collection Account pursuant to Section 7.02, the Trustee shall, in accordance with the written direction of the Servicer, not later than
12:00 noon, New York City time, on the related Distribution Date, make deposits or distributions of the following amounts (in the priority set forth below and, in each case after giving effect to any deposits and distributions otherwise to be made
on such date) in immediately available funds: (i) (x) the Class A Invested Amount on such Distribution Date will be distributed to the Paying Agent for payment to the Class A Certificateholders and (y) an amount equal to the sum
of (A) Class A Monthly Interest for such Distribution Date, (B) any Class A Monthly Interest previously due but not distributed to the Class A Certificateholders on a prior Distribution Date and (C) the amount of
Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A Certificateholders on any prior Distribution Date, will be distributed to the Paying
Agent for payment to the Class A Certificateholders, (ii) (x) the Class B Invested Amount on such Distribution Date will be distributed to the Paying Agent for payment to the Class B Certificateholders and (y) an amount
equal to the sum of (A) Class B Monthly Interest for such Distribution Date, (B) any Class B Monthly Interest previously due but not distributed to the Class B Certificateholders on a prior Distribution Date and (C) the
amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to the 

  
 36 

 
Class B Certificateholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class B Certificateholders and (iii) the balance, if any, will
be distributed to the Collateral Interest Holder. 
 (c) Notwithstanding anything to the contrary in this Supplement or the Agreement, all
amounts distributed to the Paying Agent pursuant to subsection 8.01(b) for payment to the Series 2017-8 Certificateholders shall be deemed distributed in full to the Series
2017-8 Certificateholders on the date on which such funds are distributed to the Paying Agent pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 12.02 of the
Agreement. 
 Section 8.02. Distribution of Proceeds of Sale, Disposition or Liquidation of the Receivables pursuant to
Section 9.01 of the Agreement. 
 (a) Not later than 12:00 noon, New York City time, on the Distribution Date following the date on
which the Insolvency Proceeds are deposited into the Collection Account pursuant to subsection 9.01(b) of the Agreement, the Trustee shall in accordance with the written direction of the Servicer (in the following priority and, in each case, after
giving effect to any deposits and distributions otherwise to be made on such Distribution Date) (i) deduct an amount equal to the Class A Invested Amount on such Distribution Date from the portion of the Insolvency Proceeds allocated to
Series 2017-8 Allocable Principal Collections and distribute such amount to the Paying Agent for payment to the Class A Certificateholders, provided that the amount of such distribution shall not exceed
the product of (x) the portion of the Insolvency Proceeds allocated to Series 2017-8 Allocable Principal Collections and (y) the Principal Allocation Percentage with respect to the related Monthly
Period, (ii) deduct an amount equal to the Class B Invested Amount on such Distribution Date from the portion of the Insolvency Proceeds allocated to Series 2017-8 Allocable Principal Collections and
distribute such amount to the Paying Agent for payment to the Class B Certificateholders, provided that the amount of such distribution shall not exceed (x) the product of (A) the portion of such Insolvency Proceeds allocated to
Series 2017-8 Allocable Principal Collections and (B) the Principal Allocation Percentage with respect to the related Monthly Period minus (y) the amount distributed to the Paying Agent
pursuant to clause (i) of this sentence and (iii) distribute the remaining amount of the Insolvency Proceeds to the Collateral Interest Holder. 

(b) Not later than 12:00 noon, New York City time, on such Distribution Date, the Trustee shall in accordance with the written direction of the
Servicer (in the following priority and, in each case, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date) (i) deduct an amount equal to the sum of (w) Class A Monthly Interest for
such Distribution Date, (x) any Class A Monthly Interest previously due but not distributed to the Class A Certificateholders on a prior Distribution Date and (y) the amount of Class A Additional Interest, if any, for such
Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A Certificateholders on a prior Distribution Date from the portion of the Insolvency Proceeds allocated to Collections of Finance Charge
Receivables and distribute such amount to the Paying Agent for payment to the Class A Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency Proceeds allocated to
Series 2017-8 Allocable Finance Charge Collections, (y) the Floating Allocation Percentage with respect to the related Monthly Period and (z) the Class A Floating Percentage with respect to such
Monthly Period and (ii) deduct an amount equal to the sum of (w) Class B Monthly Interest for such Distribution Date, (x) Class B Monthly Interest previously due but not distributed to the Class B Certificateholders on
a prior Distribution Date and (y) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to the Class B Certificateholders on a prior
Distribution Date from the portion of the Insolvency Proceeds allocated to Series 2017-8 Allocable Finance Charge Collections and distribute such amount to the Paying Agent for payment to the Class B
Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency Proceeds allocated to Series 2017-8 Allocable Finance Charge
Collections, (y) the Floating 

  
 37 

 
Allocation Percentage with respect to the related Monthly Period and (z) the Class B Floating Percentage with respect to such Monthly Period. To the extent that the product of
(A) the portion of the Insolvency Proceeds allocated to Series 2017-8 Allocable Finance Charge Collections and (B) the Floating Allocation Percentage with respect to the related Monthly Period
exceeds the aggregate amount distributed to the Paying Agent pursuant to the preceding sentence, the excess shall be distributed to the Collateral Interest Holder. 

(c) Notwithstanding anything to the contrary in this Supplement or the Agreement, all amounts distributed to the Paying Agent pursuant to this
Section for payment to the Series 2017-8 Certificateholders shall be distributed in full to the Series 2017-8 Certificateholders on the date on which funds are
distributed to the Paying Agent pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement. 

ARTICLE IX 

Miscellaneous Provisions 

Section 9.01. Ratification of Agreement. As supplemented by this Supplement, the Agreement is in all respects ratified
and confirmed and the Agreement as so supplemented by this Supplement shall be read, taken and construed as one and the same instrument. 

Section 9.02. Counterparts. This Supplement may be executed in two or more counterparts, and by different parties on separate
counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. 
 Section 9.03.
Governing Law. THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 9.04. [Reserved]. 

Section 9.05. FATCA Matters. 

Each Certificate Owner and Series 2017-8 Certificateholder, by the purchase of a Certificate or its
acceptance of a beneficial interest therein, acknowledges that interest on the Certificates will be treated as United States source interest, and, as such, United States withholding tax may apply. Each such Certificate Owner and Series 2017-8 Certificateholder further agrees, upon request, to provide any certifications that may be required under applicable law, regulations or procedures to evidence such status and understands that if it ceases to
satisfy the foregoing requirements or provide requested documentation, payments to it under the Certificates may be subject to United States withholding tax (without any corresponding gross-up). Without
limiting the foregoing, if a payment made under this Supplement would be subject to United States federal withholding tax imposed by FATCA if the recipient of such payment were to fail to comply with FATCA (including the requirements of Code
Sections 1471(b) or 1472(b), as applicable), such recipient shall deliver to the Transferors and the Trustee, at the time or times prescribed by the Code and at such time or times reasonably requested by the Transferors or the Trustee, such
documentation prescribed by the Code (including as prescribed by Code Section 1471(b)(3)(C)(i)) and such additional documentation reasonably requested by the Transferors or the Trustee to comply with their respective obligations under FATCA, to
determine that such recipient has complied with such recipient’s obligations under FATCA, or to determine the amount to deduct and withhold from such payment. In addition, the Transferors shall deliver to the Trustee, at the time or times
prescribed by the Code and at such time or times reasonably requested by the Trustee, such documentation prescribed by the Code (including as prescribed by Code Section 1471(b)(3)(C)(i)) and 

  
 38 

 
such additional documentation reasonably requested by the Trustee to comply with its obligations under FATCA, and the Transferors understand that failure to provide such documentation may result
in payments being subject to United States withholding tax. The Trustee shall be entitled to deduct withholding tax imposed pursuant to FATCA, and shall have no obligation to gross up any payment or to pay any additional amount as a result of such
withholding tax. For these purposes, “FATCA” means Section 1471 through 1474 of the Code and any regulations or official interpretations thereof (including any revenue ruling, revenue procedure, notice or similar guidance issued by
the U.S. Internal Revenue Service thereunder as a precondition to relief or exemption from taxes under such Sections, regulations and interpretations), any agreements entered into pursuant to Code Section 1471(b)(1), and including any
amendments made to FATCA after the date of this Supplement. 
 Section 9.06. Uncertificated Securities. The Collateral Interest
shall be delivered in uncertificated form. 
 Section 9.07. Transfers of the Collateral Interest. 

(a) Unless otherwise consented to by the Transferors, no portion of the Collateral Interest or any interest therein may be sold, conveyed,
assigned, hypothecated, pledged, participated, exchanged or otherwise transferred (each, a “Transfer”) except in accordance with this Section 9.07 and only to a Permitted Assignee. Any attempted or purported transfer,
assignment, exchange, conveyance, pledge, hypothecation or grant other than to a Permitted Assignee shall be void. Unless otherwise consented to by the Transferors, no portion of the Collateral Interest or any interest therein may be Transferred to
any Person (each such Person acquiring the Collateral Interest or any interest therein, an “Assignee”) unless such Assignee shall have executed and delivered to the Transferors on or before the effective date of any Transfer a
letter substantially in the form attached hereto as Exhibit E (an “Investment Letter”), executed by such Assignee, with respect to the related Transfer to such Assignee of all or a portion of the Collateral Interest. 

(b) Each Assignee will certify that the Collateral Interest or the interest therein purchased by such Assignee will be acquired for investment
only and not with a view to any public distribution thereof, and that such Assignee will not offer to sell or otherwise dispose of the Collateral Interest or any interest therein so acquired by it in violation of any of the registration requirements
of the Securities Act, or any applicable state or other securities laws. Each Assignee will acknowledge and agree that (i) it has no right to require the Transferors to register under the Securities Act or any other securities law the
Collateral Interest or the interest therein to be acquired by the Assignee and (ii) the sale of the Collateral Interest is not being made by means of the prospectus prepared in connection with the sale of the Series 2017-8 Certificates. Each Assignee will agree with the Transferors that: (a) such Assignee will deliver to the Transferors an Investment Letter and (b) all of the statements made by such Assignee in its
Investment Letter shall be true and correct as of the date made. 
 (c) No portion of the Collateral Interest or any interest therein may be
Transferred to, and each Assignee will certify that it is not, (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA and subject to Title I of ERISA), (b) any “plan” (as defined in and subject to
Section 4975 of the Code) including individual retirement accounts and Keogh plans, or (c) any other entity whose underlying assets include “plan assets” (within the meaning of U.S. Department of Labor Regulation Section 2510.3-101, 29 C.F.R. § 2510.3-101, as modified by Section 3(42) of ERISA) by reason of a plan’s investment in the entity, including, without
limitation, an insurance company general account. 
 [The signature page follows this page.] 

  
 39 

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

					
	 AMERICAN EXPRESS RECEIVABLES

    FINANCING CORPORATION III LLC,

    as a Transferor

 
					
		
	By:	 	  

					
		 	Name:
		 	Title:
	
	 AMERICAN EXPRESS RECEIVABLES

    FINANCING CORPORATION IV LLC,

    as a Transferor

 
					
		
	By:	 	  

					
		 	Name:
		 	Title:
	
	 AMERICAN EXPRESS TRAVEL RELATED

    SERVICES COMPANY, INC.,

    as the Servicer

 
					
		
	By:	 	  

					
		 	Name:
		 	Title:
	
	 THE BANK OF NEW YORK MELLON,

    as Trustee

 
					
		
	By:	 	  

					
		 	Name:
		 	Title:

 [Signature page – Series 2017-8 Supplement] 

					
		 	FORM OF CLASS A CERTIFICATE	  	EXHIBIT A-1

  

			
	REGISTERED	  	$            1/
		
	No. R-             	  	CUSIP No. 02582J HN3

 Unless this Class A Certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to American Express Receivables Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or their agent for registration of transfer, exchange or payment, and
any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2017-8 

CLASS A FLOATING RATE ASSET BACKED CERTIFICATE 

Expected Final Payment Date: 
 The
October 2019 Distribution Date 
 Each $100,000 minimum denomination represents a 

1/5,500ths undivided interest 
 in
Class A of the 
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 2017-8 

Evidencing an undivided interest in certain assets of a trust, the corpus of which consists primarily of an interest in receivables generated from time to
time in the ordinary course of business in a portfolio of credit and charge accounts serviced by 
 AMERICAN EXPRESS TRAVEL RELATED SERVICES
COMPANY, INC., 
 and other assets and interests constituting Trust Assets under the Third Amended and Restated Pooling and Servicing Agreement referred to
below. 
 (Not an interest in or obligation of American Express Travel Related Services Company, Inc., American Express Centurion Bank,
American Express Bank, FSB, American Express Receivables Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or any of their respective affiliates) 

This certifies that CEDE & CO. (the “Class A Certificateholder”) is the registered owner of a fractional undivided interest in
certain assets of a trust (the “Trust”) created pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and as 

 

	1/	 Denominations of $100,000 and integral multiples of $1,000 in excess thereof.

  
 A-1-1 

 
otherwise amended and supplemented, the “Agreement”), as supplemented by the Series 2017-8 Supplement, dated as of October 30, 2017
(as amended and supplemented, the “Supplement”), among American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the
“Transferors”), American Express Travel Related Services Company, Inc., as servicer, and The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). The corpus of the Trust consists of
(i) the Transferors’ ownership interest in a portfolio of receivables (the “Receivables”) existing in credit and charge accounts identified under the Agreement from time to time (the “Accounts”), (ii) all
Receivables generated under the Accounts from time to time thereafter, (iii) funds collected or to be collected from cardmembers in respect of the Receivables, (iv) all funds which are from time to time on deposit in the Collection
Account, the Special Funding Account and any other Series Accounts and (v) all other assets and interests constituting the Trust. The Holder of this Certificate is entitled to the benefits of the subordination of the Class B Certificates
and the Collateral Interest to the extent provided in the Supplement. Although a summary of certain provisions of the Agreement and the Supplement is set forth below and in the Summary of Terms and Conditions attached hereto and made a part hereof,
this Class A Certificate does not purport to summarize the Agreement and the Supplement and reference is made to the Agreement and the Supplement for information with respect to the interests, rights, benefits, obligations, proceeds and duties
evidenced hereby and the rights, duties and obligations of the Trustee. A copy of the Agreement and the Supplement (without schedules) may be requested from the Trustee by writing to the Trustee at the Corporate Trust Office. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to them in the Agreement or the Supplement, as applicable. 

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

It is the intent of the Transferors and the Class A Certificateholder that, for federal, state and local income and franchise tax
purposes, the Class A Certificates will qualify as indebtedness of the Transferors secured by the Receivables. The Class A Certificateholder, by the acceptance of this Class A Certificate, agrees to treat this Class A Certificate
for federal, state and local income and franchise tax purposes as debt of the Transferors. 
 In general, payments of principal with respect
to the Class A Certificates are limited to the Class A Invested Amount, which may be less than the unpaid principal balance of the Class A Certificates. The Expected Final Payment Date is the October 2019 Distribution Date, but
principal with respect to the Class A Certificates may be paid earlier or later under certain circumstances described in the Agreement and the Supplement. If for one or more months during the Controlled Accumulation Period there are not
sufficient funds to pay the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of
principal of the Class A Certificates will occur later than the Expected Final Payment Date. 
 Unless the certificate of
authentication hereon has been executed by or on behalf of the Trustee, by manual signature, this Class A Certificate shall not be entitled to any benefit under the Agreement or the Supplement or be valid for any purpose. 

  
 A-1-2 

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

			
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	By:	 	 
		 	Name:
		 	Title:
	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	By:	 	 
		 	Name:
		 	Title:

 Dated: October 30, 2017 

  
 A-1-3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the American Express Credit Account Master Trust Series 2017-8 Class A Certificates described in
the within-mentioned Agreement and Supplement. 
  

			
	 THE BANK OF NEW YORK MELLON,
 as
Trustee

		
	By:	 	 
		 	Authorized Signatory
		
		 	or
		
	By:	 	 
		 	as Authenticating Agent
		 	for the Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 A-1-4 

 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2017-8 

CLASS A FLOATING RATE ASSET BACKED CERTIFICATE 

Summary of Terms and Conditions 

The Receivables consist of Principal Receivables which arise generally from the purchase of goods and services and amounts advanced to
cardmembers as cash advances and Finance Charge Receivables. This Class A Certificate is one of a Series of Certificates entitled American Express Credit Account Master Trust, Series 2017-8 (the
“Series 2017-8 Certificates”), and one of a class thereof entitled Class A Series 2017-8 Floating Rate Asset Backed Certificates (the
“Class A Certificates”), each of which represents a fractional, undivided interest in certain assets of the Trust. The assets of the Trust are allocated in part to the investor certificateholders of all outstanding Series (the
“Certificateholders’ Interest”) with the remainder allocated to the Holders of the Transferor Certificates. The aggregate interest represented by the Class A Certificates at any time in the Principal Receivables in the
Trust shall not exceed an amount equal to the Class A Invested Amount at such time. The Class A Initial Invested Amount is $550,000,000. The Class A Invested Amount on any date will be an amount equal to (a) the Class A
Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class A Certificateholder on or prior to such date, minus (c) the excess, if any, of the aggregate amount of Class A Investor
Charge-Offs for all prior Distribution Dates over Class A Investor Charge-Offs reimbursed pursuant to subsection 4.07(b) of the Supplement prior to such date. 

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

On each Distribution Date, the Paying Agent shall distribute to each Class A Certificateholder of record on the last day of the preceding
calendar month (each a “Record Date”) such Class A Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal Funding Account) as are payable to the
Class A Certificateholder pursuant to the Agreement and the Supplement. Distributions with respect to this Class A Certificate will be made by the Paying Agent by check mailed to the address of the Class A Certificateholder of record
appearing in the Certificate Register without the presentation or surrender of this Class A Certificate or the making of any notation thereon (except for the final distribution in respect of this Class A Certificate) except that with
respect to Class A Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final payment of this Class A Certificate
will be made only upon presentation and surrender of this Class A Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Series 2017-8
Certificateholders in accordance with the Agreement and the Supplement. 
 On any day occurring on or after the day on which the Invested
Amount is reduced to 5% or less of the Initial Invested Amount, the Transferors have the option to repurchase the Series 2017-8 Certificateholders’ Interest in the Trust. The repurchase price will be
equal to (a) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. Following the deposit
of the Reassignment Amount in the Collection Account, Series 2017-8 Certificateholders will not have any interest in the Receivables and the Series 2017-8 Certificates
will represent only the right to receive such Reassignment Amount. 

  
 A-1-5 

 This Class A Certificate does not represent an obligation of, or an interest in, the
Transferors or the Servicer or any affiliate of any of them and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality. This Class A Certificate is limited in right of
payment to certain Collections with respect to the Receivables (and certain other amounts), all as more specifically set forth hereinabove and in the Agreement and the Supplement. 

The Class A Certificates are issuable only in minimum denominations of $100,000 and integral multiples of $1,000. The transfer of this
Class A Certificate shall be registered in the Certificate Register upon surrender of this Class A Certificate for registration of transfer at any office or agency maintained by the Transfer Agent and Registrar accompanied by a written
instrument of transfer, in a form satisfactory to the Trustee or the Transfer Agent and Registrar, duly executed by the Class A Certificateholder or such Class A Certificateholder’s attorney, and duly authorized in writing with such
signature guaranteed, and thereupon one or more new Class A Certificates of authorized denominations and for the same aggregate fractional undivided interest will be issued to the designated transferee or transferees. 

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

The Servicer, the Transferors, the Trustee, the Paying Agent and the Transfer Agent and Registrar and any agent of any of them, may treat the
person in whose name this Class A Certificate is registered as the owner hereof for all purposes, and none of the Servicer, the Transferors, the Trustee, the Paying Agent, the Transfer Agent and Registrar, or any agent of any of them, shall be
affected by notice to the contrary except in certain circumstances described in the Agreement. 
 THIS CLASS A CERTIFICATE SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 A-1-6 

 ASSIGNMENT 

Social Security or other identifying number of assignee
                                         
                                         
           
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto
                                         
                                         
           
 (name and address of assignee) 

the within certificate and all rights thereunder, and hereby irrevocably constitutes and appoints
                            , attorney, to transfer said certificate on the books kept for registration
thereof, with full power of substitution in the premises. 
  

							
	Dated:                             	 		 		 	 2/

		 		 		 	  
 Signature Guaranteed:

				
		 		 		 	  

  

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

  
 A-1-7 

					
		 	FORM OF CLASS B CERTIFICATE            	  	EXHIBIT A-2

THIS CLASS B CERTIFICATE MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT OF PERSONS INVESTING ASSETS OF A BENEFIT PLAN (AS DEFINED BELOW) OR AN INDIVIDUAL
RETIREMENT ACCOUNT OTHER THAN BY INSURANCE COMPANIES INVESTING ASSETS SOLELY OF THEIR GENERAL ACCOUNTS. 
  

			
	REGISTERED	  	$            3/
		
	No. R-             	  	CUSIP No. 02582J HP8

 Unless this Class B Certificate is presented by an authorized representative of The Depository Trust
Company, a New York corporation (“DTC”), to American Express Receivables Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or their agent for registration of transfer, exchange or payment, and
any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2017-8 

CLASS B FLOATING RATE ASSET BACKED CERTIFICATE 

Expected Final Payment Date: 
 The
October 2019 Distribution Date 
 Each $100,000 minimum denomination represents a 

1/20546/100ths undivided interest 
 in Class B of the 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 2017-8 

Evidencing an undivided interest in certain assets of a trust, the corpus of which consists primarily of an interest in receivables generated from time to
time in the ordinary course of business in a portfolio of credit and charge accounts serviced by 
 AMERICAN EXPRESS TRAVEL RELATED SERVICES
COMPANY, INC., 
 and other assets and interests constituting Trust Assets under the Third Amended and Restated Pooling and Servicing Agreement referred to
below. 
 (Not an interest in or obligation of American Express Travel Related Services Company, Inc., American Express
Centurion Bank, American Express Bank, FSB, American Express Receivables 
  

	3/	 Denominations of $100,000 and integral multiples of $1,000 in excess thereof.

  
 A-2-1 

 
Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or any of their respective affiliates) 

This certifies that CEDE & CO. (the “Class B Certificateholder”) is the registered owner of a fractional, undivided interest in
certain assets of a trust (the “Trust”) created pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and otherwise amended and supplemented, the
“Agreement”), as supplemented by the Series 2017-8 Supplement, dated as of October 30, 2017 (as amended and supplemented, the “Supplement”), among American Express
Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the “Transferors”), American Express Travel Related Services Company, Inc., as servicer, and The Bank
of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). The corpus of the Trust consists of (i) the Transferors’ ownership interest in a portfolio of receivables (the “Receivables”)
existing in credit and charge accounts identified under the Agreement from time to time (the “Accounts”), (ii) all Receivables generated under the Accounts from time to time thereafter, (iii) funds collected or to be collected
from cardmembers in respect of the Receivables, (iv) all funds which are from time to time on deposit in the Collection Account, the Special Funding Account, and any other Series Accounts and (v) all other assets and interests constituting
the Trust. Although a summary of certain provisions of the Agreement and the Supplement is set forth below and in the Summary of Terms and Conditions attached hereto and made a part hereof, this Class B Certificate does not purport to summarize
the Agreement and the Supplement and reference is made to the Agreement and the Supplement for information with respect to the interests, rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of
the Trustee. A copy of the Agreement and the Supplement (without schedules) may be requested from the Trustee by writing to the Trustee at the Corporate Trust Office. To the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to them in the Agreement or the Supplement, as applicable. 
 This Class B Certificate is issued under and is subject
to the terms, provisions and conditions of the Agreement and the Supplement, to which Agreement and Supplement, each as amended and supplemented from time to time, the Class B Certificateholder by virtue of the acceptance hereof assents and is
bound. 
 No Class B Certificate may be acquired by or for the account of any employee benefit plan, trust or account, including an
individual retirement account, that is subject to the Employee Retirement Income Security Act of 1974, as amended, or that is described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended, or an entity whose underlying assets
include plan assets by reason of a plan’s investment in such entity (a “Benefit Plan”), unless (i) such acquirer or holder is an insurance company, (ii) the source of funds used to acquire or hold such Certificate (or
interest therein) is an “insurance company general account” (as defined in U.S. Department of Labor Prohibited Transaction Class Exemption (“PTCE”) 95-60), and (iii) the
conditions set forth in Sections I and III of PTCE 95-60 have been satisfied. By acquiring any interest in this Class B Certificate, each applicable Certificate Owner shall be deemed to have represented
and warranted either (i) that it is not a Benefit Plan and is not acting for the account of any Benefit Plan or (ii) that (1) it is an insurance company, (2) the source of funds used to acquire or hold an interest in such Certificate
is an “insurance company general account” (as such term is defined in PTCE 95-60), and (3) the conditions set forth in Sections I and III of PTCE 95-60
have been satisfied. 
 THIS CLASS B CERTIFICATE IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS ON THE CLASS A CERTIFICATES TO
THE EXTENT SPECIFIED IN THE SUPPLEMENT. 

  
 A-2-2 

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

In general, payments of principal with respect to the Class B Certificates are limited to the Class B Invested Amount, which may be
less than the unpaid principal balance of the Class B Certificates. The Expected Final Payment Date is the October 2019 Distribution Date, but principal with respect to the Class B Certificates may be paid earlier or later under certain
circumstances described in the Agreement and the Supplement. If for one or more months during the Controlled Accumulation Period there are not sufficient funds to pay the Controlled Deposit Amount, then to the extent that excess funds are not
available on subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of principal of the Class B Certificates will occur later than the Expected Final Payment Date. 

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

  
 A-2-3 

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

			
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	By:	 	 
		 	Name:
		 	Title:
	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	By:	 	 
		 	Name:
		 	Title:

 Dated: October 30, 2017 

  
 A-2-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the American Express Credit Account Master Trust Series 2017-8 Class B
Certificates described in the within mentioned Agreement and Supplement. 
  

			
	 THE BANK OF NEW YORK MELLON,
 as
Trustee

		
	By:	 	 
		 	Authorized Signatory
	
	or
		
	By:	 	 
		 	as Authenticating Agent
		 	for the Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 A-2-5 

 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2017-8 

CLASS B FLOATING RATE ASSET BACKED CERTIFICATE 

Summary of Terms and Conditions 

The Receivables consist of Principal Receivables which arise generally from the purchase of goods and services and amounts advanced to
cardmembers as cash advances and Finance Charge Receivables. This Class B Certificate is one of a Series of Certificates entitled American Express Credit Account Master Trust, Series 2017-8 (the
“Series 2017-8 Certificates”), and one of a class thereof entitled Class B Series 2017-8 Floating Rate Asset Backed Certificates (the
“Class B Certificates”), each of which represents a fractional, undivided interest in certain assets of the Trust. The assets of the Trust are allocated in part to the investor certificateholders of all outstanding Series (the
“Certificateholders’ Interest”) with the remainder allocated to the Holders of the Transferor Certificates. The aggregate interest represented by the Class B Certificates at any time in the Principal Receivables in the
Trust shall not exceed an amount equal to the Class B Invested Amount at such time. The Class B Initial Invested Amount is $20,546,000. The Class B Invested Amount on any date will be an amount equal to (a) the Class B
Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholder on or prior to such date, minus (c) the excess, if any, of the aggregate amount of Class B Investor
Charge-Offs for all prior Distribution Dates over Class B Investor Charge-Offs reimbursed, minus (d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) of the
Supplement (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested
Amount has been reduced to cover the Class A Investor Default Amount on all prior Distribution Dates, and plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series
2017-8 and applied on all prior Distribution Dates for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested
Amount may not be reduced below zero. 
 Subject to the terms and conditions of the Agreement, the Transferors may, from time to time,
direct the Trustee, on behalf of the Trust, to issue one or more new Series of Investor Certificates, which will represent fractional, undivided interests in certain of the Trust Assets. 

On each Distribution Date, the Paying Agent shall distribute to each Class B Certificateholder of record on the last day of the preceding
calendar month (each a “Record Date”) such Class B Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal Funding Account) as are payable to the
Class B Certificateholder pursuant to the Agreement and the Supplement. Distributions with respect to this Class B Certificate will be made by the Paying Agent by check mailed to the address of the Class B Certificateholder of record
appearing in the Certificate Register without the presentation or surrender of this Class B Certificate or the making of any notation thereon (except for the final distribution in respect of this Class B Certificate) except that with
respect to Class B Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final payment of this Class B Certificate
will be made only upon presentation and surrender of this Class B Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Series 2017-8
Certificateholders in accordance with the Agreement and the Supplement. 
 On any day occurring on or after the day on which the Invested
Amount is reduced to 5% or less of the Initial Invested Amount, the Transferors have the option to repurchase the Series 2017-8 

  
 A-2-6 

 
Certificateholders’ Interest in the Trust. The repurchase price will be equal to (a) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or
(b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date next following such day. Following the deposit of the Reassignment Amount in the Collection Account, Series
2017-8 Certificateholders will not have any interest in the Receivables and the Series 2017-8 Certificates will represent only the right to receive such Reassignment
Amount. 
 This Class B Certificate does not represent an obligation of, or an interest in, the Transferors or the Servicer or any
affiliate of any of them and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality. This Class B Certificate is limited in right of payment to certain Collections with
respect to the Receivables (and certain other amounts), all as more specifically set forth hereinabove and in the Agreement and the Supplement. 

The Class B Certificates are issuable only in minimum denominations of $100,000 and integral multiples of $1,000. The transfer of this
Class B Certificate shall be registered in the Certificate Register upon surrender of this Class B Certificate for registration of transfer at any office or agency maintained by the Transfer Agent and Registrar accompanied by a written
instrument of transfer, in a form satisfactory to the Trustee or the Transfer Agent and Registrar, duly executed by the Class B Certificateholder or such Class B Certificateholder’s attorney, and duly authorized in writing with such
signature guaranteed, and thereupon one or more new Class B Certificates of authorized denominations and for the same aggregate fractional undivided interest will be issued to the designated transferee or transferees. 

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

The Servicer, the Transferors, the Trustee, the Paying Agent and the Transfer Agent and Registrar and any agent of any of them, may treat the
person in whose name this Class B Certificate is registered as the owner hereof for all purposes, and none of the Servicer, the Transferors, the Trustee, the Paying Agent, the Transfer Agent and Registrar, or any agent of any of them, shall be
affected by notice to the contrary except in certain circumstances described in the Agreement. 
 THIS CLASS B CERTIFICATE SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 A-2-7 

 ASSIGNMENT 

Social Security or other identifying number of assignee
                                         
            
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and
transfers unto 

                          
                                         
                          

(name and address of assignee) 
 the within
certificate and all rights thereunder, and hereby irrevocably constitutes and appoints                     , attorney, to transfer said certificate
on the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	Dated:                             	 		 		 	 4/

		 		 		 	  
 Signature Guaranteed:

				
		 		 		 	  

  

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

  
 A-2-8 

 EXHIBIT B 

FORM OF MONTHLY PAYMENT INSTRUCTIONS AND 

NOTIFICATION TO THE TRUSTEE 
  

 
 AMERICAN EXPRESS
CREDIT ACCOUNT MASTER TRUST 
 SERIES 2017-8 

 
  

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc. (“TRS”), as
Servicer pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and as otherwise amended and supplemented, the “Pooling and Servicing Agreement”), among
TRS, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the “Transferors”), and The Bank of New York Mellon (formerly The Bank of New
York), as trustee (the “Trustee”), does hereby certify as follows: 
 1. Capitalized terms used in this Certificate have
their respective meanings set forth in the Pooling and Servicing Agreement or the Series 2017-8 Supplement, dated as of October 30, 2017, among TRS, the Transferors and the Trustee (as amended and
supplemented, the “Supplement”), as applicable. 
 2. TRS is the Servicer. 

3. The undersigned is a Servicing Officer. 
 I.
INSTRUCTION TO MAKE A WITHDRAWAL 
 Pursuant to subsections 4.05(a), (b) and (c), the Servicer does hereby instruct the Trustee (i) to
make withdrawals from the Collection Account on                     ,
                    , which date is a Distribution Date under the Supplement, in the aggregate amounts (equal to the Class A Available Funds,
Class B Available Funds and Collateral Available Funds, respectively) as set forth below in respect of the following amounts and (ii) to apply the proceeds of such withdrawals in accordance with subsections 4.05(a), (b) and (c): 

With respect to the Class A Certificates, 
  

							
	 A)
	  	 Pursuant to subsection 4.05(a)(i):
	  	
				
		  	 (1)
	  	 Interest at the Class A Certificate Rate for the related Interest Accrual Period on the
Class A Invested Amount
	  	$                
				
		  	 (2)
	  	 Class A Monthly Interest previously due but not paid
	  	$                

  
 B-1 

							
				
		  	 (3)
	  	 Class A Additional Interest and any Class A Additional Interest due but not
paid
	  	$                
			
	 B)
	  	 Pursuant to subsection 4.05(a)(ii):
	  	
				
		  	 (1)
	  	 The Class A Servicing Fee for the preceding Monthly Period, if applicable
	  	$                
				
		  	 (2)
	  	 Accrued and unpaid Class A Servicing Fees, if applicable
	  	$                
			
	 C)
	  	 Pursuant to subsection 4.05(a)(iii):
	  	
				
		  	 (1)
	  	 Class A Investor Default Amount for the preceding Monthly Period
	  	$                
		
	With respect to the Class B Certificates,	  	
			
	 A)
	  	 Pursuant to subsection 4.05(b)(i):
	  	
				
		  	 (1)
	  	Interest at the Class B Certificate Rate for the related Interest Accrual Period on the Class B Invested Amount	  	$                
				
		  	 (2)
	  	 Class B Monthly Interest previously due but not paid
	  	$                
				
		  	 (3)
	  	 Class B Additional Interest and any Class B Additional Interest previously due but not
paid
	  	$                
			
	 B)
	  	 Pursuant to subsection 4.05(b)(ii):
	  	
				
		  	 (1)
	  	 The Class B Servicing Fee for the preceding Monthly Period, if applicable
	  	$                
				
		  	 (2)
	  	 Accrued and unpaid Class B Servicing Fees, if applicable
	  	$                
		
	 With respect to the Collateral Interest
	  	
			
	 A)
	  	 Pursuant to subsection 4.05(c)(i):
	  	
				
		  	 (1)
	  	 The Collateral Servicing Fee for the preceding Monthly Period, if applicable
	  	$                
				
		  	 (2)
	  	 Accrued and unpaid Collateral Servicing Fees, if applicable
	  	$                

 Pursuant to subsections 4.05(d), (e) and (f), the Servicer hereby instructs the Trustee (i) to make
withdrawals from the Collection Account on                 , which date is a Distribution Date under the Supplement, in the aggregate amounts (equal to the Available
Principal Collections) as set forth 

  
 B-2 

 
below in respect of the following amounts and (ii) to apply the proceeds of such withdrawals in accordance with subsections 4.05(d), (e) and (f): 

 

							
			
	 A)
	  	 Pursuant to subsection 4.05(d):
	  	
				
		  	 (1)
	  	 Amount to be treated as Shared Principal Collections
	  	$                
			
	 B)
	  	 Pursuant to subsection 4.05(e):
	  	
				
		  	 (1)
	  	The lesser of the Controlled Deposit Amount and the sum of the Class A Adjusted Invested Amount and the Class B Adjusted Invested Amount deposited in the Principal Funding Account	  	$                
				
		  	 (2)
	  	After the Class B Invested Amount is paid in full, the amount paid to the Collateral Interest Holder (up to the Collateral Invested Amount)	  	$                
				
		  	 (3)
	  	Prior to the date the Class B Invested Amount is paid in full, amount to be treated as Shared Principal Collections	  	$                
			
	 C)
	  	 Pursuant to subsection 4.05(f):
	  	
				
		  	 (1)
	  	An amount up to the Class A Adjusted Invested Amount deposited in the Principal Funding Account	  	$                
				
		  	 (2)
	  	On and after the Distribution Date on which the Class A Invested Amount is paid in full, an amount up to the Class B Invested Amount deposited in the Principal Funding Account	  	$                
				
		  	 (3)
	  	On and after the Distribution Date on which the Class B Invested Amount is paid in full, an amount up to the Collateral Invested Amount distributed to the Collateral Interest Holder	  	$                

 Pursuant to Section 4.07, the Servicer does hereby instruct the Trustee to apply on
                , which is a Distribution Date under the Supplement, any Excess Spread and Excess Finance Charge Collections allocated to Series 2017-8 as follows: 
  

							
			
	A)	  	 Pursuant to subsection 4.07(a):
	  	
			
		  	 Class A Required Amount applied in the priority set forth in subsections
4.05(a)(i), (ii) and (iii)
	  	$                

  
 B-3 

 
							
			
	B)	  	 Pursuant to subsection 4.07(b):
	  	
			
		  	Aggregate amount of Class A Investor Charge-Offs not previously reimbursed allocated to Available Principal Collections	  	$                
			
	C)	  	 Pursuant to subsection 4.07(c):
	  	
			
		  	Interest accrued on aggregate outstanding principal balance of the Class B Certificates not otherwise distributed to Class B Certificateholders pursuant to Section 4.05(b)(i)	  	$                
			
	D)	  	 Pursuant to subsection 4.07(d):
	  	
			
		  	Class B Required Amount applied in the priority set forth in subsections 4.05(b)(i) and (ii)	  	$                
			
	E)	  	 Pursuant to subsection 4.07(d):
	  	
			
		  	Amount (up to the Class B Investor Default) to be applied as Available Principal Collections	  	$                
			
	F)	  	 Pursuant to subsection 4.07(e):
	  	
			
		  	The amount by which the Class B Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition thereof allocated to Available Principal Collections	  	$                
			
	G)	  	 Pursuant to subsection 4.07(f):
	  	
				
		  	(1)	  	 Collateral Senior Minimum Monthly Interest
	  	$                
				
		  	(2)	  	 Collateral Senior Minimum Monthly Interest previously due but not paid
	  	$                
				
		  	(3)	  	Collateral Senior Additional Interest and any Collateral Senior Additional Interest previously due and not paid	  	$                
			
	H)	  	 Pursuant to subsection 4.07(g):
	  	
			
		  	Monthly Servicing Fee for such Distribution Date that has not been paid to the Servicer and any Monthly Servicing Fee previously due but not paid to the Servicer	  	$                
			
	I)	  	 Pursuant to subsection 4.07(h):
	  	
			
		  	Collateral Default Amount allocated to Available Principal Collections	  	$                

  
 B-4 

 
							
			
	J)	  	Pursuant to subsection 4.07(i):	  	
			
		  	The amount by which the Collateral Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition thereof allocated to Available Principal Collections	  	$                
			
	K)	  	Pursuant to subsection 4.07(j):	  	
			
		  	The excess of the Required Reserve Account Amount over the Available Reserve Amount deposited into the Reserve Account	  	$                
			
	L)	  	Pursuant to subsection 4.07(k):	  	
			
		  	Amount distributed to the Collateral Interest Holder	  	$                

 Pursuant to Section 4.08, the Servicer does hereby instruct the Trustee to apply on
                , which is a Distribution Date under the Pooling and Servicing Agreement,
$                 of Reallocated Principal Collections to fund any deficiencies in the Required Amount after applying Class A Available Funds, Class B
Available Funds, Collateral Available Funds, Excess Spread and Excess Finance Charge Collections thereto. 
 II. INSTRUCTION TO MAKE CERTAIN PAYMENTS 

Pursuant to Section 5.01 of the Series Supplement, the Servicer does hereby instruct the Trustee to pay in accordance with
Section 5.01 from the Interest Funding Account or the Principal Funding Account, as applicable, on                 , which date is a Payment Date under the
Supplement, the following amounts as set forth below: 

							
			
	A)	  	Pursuant to subsection 5.01(a):	  	
			
		  	Interest to be distributed to Class A Certificateholders	  	$                
			
	B)	  	Pursuant to subsection 5.01(b):	  	
			
		  	On the Expected Final Payment Date or a Special Payment Date, principal to be distributed to the Class A Certificateholders	  	$                
			
	C)	  	Pursuant to subsection 5.01(c):	  	
			
		  	Interest to be distributed to Class B Certificateholders	  	$                
			
	D)	  	Pursuant to subsection 5.01(d):	  	
			
		  	On the Expected Final Payment Date or a Special Payment Date, on or after the date Class A Invested Amount is paid in full, principal to be distributed to the Class B Certificateholders	  	$                

  
 B-5 

 
							
			
	E)	  	Pursuant to subsection 5.01(e):	  	
			
		  	Aggregate amount to be distributed to the Collateral Interest Holder	  	$                

 III. ACCRUED AND UNPAID AMOUNTS 

After giving effect to the withdrawals and transfers to be made in accordance with this notice, the following amounts will be accrued and
unpaid with respect to all Monthly Periods preceding the current calendar month. 
  

							
			
	1.	  	Subsection 4.06(a):	  	
			
		  	The aggregate amount of all unreimbursed Class A Investor Charge-Offs	  	$                
			
	2.	  	Subsection 4.06(a), (b) and 4.08(a):	  	
			
		  	The aggregate amount by which the Class B Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition thereof	  	$                
			
	3.	  	Subsection 4.06(a), (b), (c) and 4.08(a), (b) and (c):	  	
			
		  	The aggregate amount by which the Collateral Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition thereof	  	$                

 IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this
                 day of                 ,
                . 
  

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

 

	By:	 	  

		 	Name:
		 	Title:

  

  
 B-6 

 EXHIBIT C-1 

FORM OF MONTHLY STATEMENT 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 
  

													
	 A. TRUST ACTIVITY
	  	TRUST
TOTALS	 	 	 	 	  	 	 
	 Record Date
	  	 	            	 	 	 	                	 	  	 	                	 
	 Number of days in Monthly Period
	  	 	            	 	 				  			
	 Beginning Number of Accounts
	  	 	            	 	 				  			
	 Beginning Principal Receivable Balance, including any Additions, Removals, or Adjustments of
Principal Receivables during the Monthly Period
	  	$	            	 	 				  			
	 a. Addition of Principal Receivables
	  	$	            	 	 				  			
	 b. Removal of Principal Receivables
	  	$	            	 	 				  			
	 c. Adjustments to Principal Receivables
	  	$	            	 	 				  			
	 Special Funding Account Balance
	  	$	            	 	 				  			
	 Beginning Total Principal Balance
	  	$	            	 	 				  			
	 Finance Charge Collections (excluding Recoveries)
	  	$	            	 	 				  			
	 Collections of Discount Option Receivables
	  	$	            	 	 				  			
	 Recoveries
	  	$	            	 	 				  			
	 Total Collections of Finance Charge Receivables
	  	$	            	 	 				  			
	 Total Collections of Principal Receivables
	  	$	            	 	 				  			
	 Monthly Payment Rate
	  	 	             	% 	 				  			
	 Defaulted Amount
	  	$	            	 	 				  			
	 Annualized Default Rate
	  	 	             	% 	 				  			
	 Annualized Default Rate, Net of Recoveries
	  	 	             	% 	 				  			
	 Trust Portfolio Yield
	  	 	             	% 	 				  			
	 New Principal Receivables
	  	$	            	 	 				  			
	 Ending Number of Accounts
	  	 	            	 	 				  			
	 Ending Principal Receivables Balance
	  	$	            	 	 				  			
	 Ending Required Minimum Principal Balance
	  	$	            	 	 				  			
	 Ending Transferor Amount
	  	$	            	 	 				  			
	 Ending Special Funding Account Balance
	  	$	            	 	 				  			
	 Ending Total Principal Balance
	  	$	            	 	 				  			
	 Ending Total Receivables
	  	$	            	 	 				  			

  
 C-1-1 

 B SERIES ALLOCATIONS 

 

																																					
	 	  	Invested
Amount	 	  	Adjusted
Invested
Amount	 	  	Principal
Funding
Account
Balance	 	  	Series
Required
Transferor
Amount	 	  	Series
Allocation
Percentage	 	 	Series
Allocable
Finance
Charge
Collections	 	  	Series
Allocable
Recoveries	 	  	Series
Allocable
Principal
Collections	 	  	Series
Allocable
Defaulted
Amount	 
	 Group        
	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	 	             	% 	 	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 
	 Other
	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	 	             	% 	 	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 
	 Total
	  				  				  				  				  				 				  				  				  			
	 Trust
	  				  				  				  				  				 				  				  				  			

 C. GROUP ALLOCATIONS (1) 
  

																																									
	 	  	Invested
Amount	 	  	Investor
Finance
Charge
Collections	 	  	Investor
Monthly
Interest	 	  	Investor
Default
Amount	 	  	Investor
Monthly
Fees	 	  	Investor
Additional
Amounts	 	  	Total	 	  	Reallocated
Investor
Finance
Charge
Collections	 	  	Investment
Funding
Account
Proceeds	 	  	Available
Excess	 
	 Group        
	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 
	 Total
	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 
	 Trust Total
	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 	  	$	            	 

  

																																	
	 	  	Group Investor Finance Charge
Collections	  	Group
Expenses	 	  	Group Reallocable Investor Finance Charge
Collections	 
	 Group        
	  	$            	  				  				  				  				  				  			
	  

(1)    Series
2009-D-II, Series 2016-E-I and Series 2016-E-II do not share in group allocations with other series. Therefore, certain figures set forth in section “B. Series Allocations” above, which include Series 2009-D-II, Series 2016-E-I and Series 2016-E-II,
will not equal the corresponding figures set forth in this section “C. Group Allocations.”
	 

     

 D. TRUST PERFORMANCE 

 

																			
	 Delinquencies
	  	 	  	Dollar Amount	 	  	Percentage of
Ending Total
Receivables	 	 	Number of
Accounts	 	  	Percentage
of Total
Number of
Accounts	 
		  	31-60 Days Delinquent	  	$	            	 	  	 	             	% 	 	 	            	 	  	 	             	% 
		  	61-90 Days Delinquent	  	$	            	 	  	 	             	% 	 	 	            	 	  	 	             	% 
		  	91-120 Days Delinquent	  	$	            	 	  	 	             	% 	 	 	            	 	  	 	             	% 
		  	120+ Days Delinquent	  	$	            	 	  	 	             	% 	 	 	            	 	  	 	             	% 
		  	Total 30+ Days Delinquent	  	$	            	 	  	 	             	% 	 	 	            	 	  	 	             	% 
	 Loss Experience:
	  

		  	Ending Principal Receivables Balance	 	  	 	            	 
		  	Defaulted Amount	 	  	 	            	 
		  	Recoveries	 	  	 	            	 
		  	Net Default Amount	 	  	 	            	 
		  	Annualized Default Rate	 	  	 	             	% 

  
 C-1-2 

													
		  	 Annualized Recovery Rate
	  	 	             	% 
		  	 Annualized Default Rate, Net of Recoveries
	  	 	             	% 
		  	 Number of Accounts Experiencing a Loss
	  	 	            	 
		  	 Number of Accounts Experiencing a Recovery
	  	 	            	 
		  	 Average Net Default Amount per Account Experiencing a Loss
	  	 	            	 
	
	E. REPURCHASES AND REPLACEMENTS	 
	
	Information required by Rule 15Ga-1(a) concerning the Trust:	 
	
	 [No activity to report for reporting period.]
	  

	Most recent Form ABS-15G:	 
	 Form ABS-15G filed on
             under CIK number             
	  

	
	F. ASSET REVIEW	 
	
	Information required by Item 1121(d)(1) of Regulation AB concerning the Trust:	 
	
	 [No activity to report for reporting period.]
	  

	Information required by Item 1121(d)(2) of Regulation AB concerning the Trust:	 
	 [There has been no change to the Asset Representation Reviewer during the reporting period.]
	  

	
	G. INVESTOR COMMUNICATION	 
	
	Information required by Item 1121(e) of Regulation AB concerning the Trust:	 
	
	 [No activity to report for reporting period.]

[On [                ], 20[    ],
[            ] received a request from [            ] expressing an interest in communicating with other investors with regard to
the possible exercise of rights under [TRANSACTION AGREEMENT]. The requesting investor may be contacted at:
 [ADDRESS]

[PHONE NUMBER]
 [EMAIL]]
	  

 
  

 

 

H. CREDIT RISK RETENTION 
  

									
	 	  	As of the last day of Monthly
Period	 	 	As of the last day of Prior Monthly
Period	 
	 Required Seller’s Interest Amount
	  	$	            	 	 	$	            	 
	 Seller’s Interest Amount
	  	$	            	 	 	 	            	 
	 Seller’s Interest Percentage
	  	 	            	% 	 	 	            	% 

  
 C-1-3 

 SERIES 2017-8 CERTIFICATES 

 

																	
	 A. INVESTOR/

TRANSFEROR

ALLOCATIONS
	  	SERIES
ALLOCATIONS	 	 	TOTAL
INVESTOR
INTEREST	 	 	TRANSFERORS’
INTEREST	 	 	 	 
	 Beginning Invested Amount/Transferor Amount
	  	$	                	 	 	$	                	 	 	$	                	 	 			
	 Beginning Adjusted Invested Amount
	  	$	                	 	 	$	                	 	 	$	                	 	 			
	 Floating Allocation Percentage
	  	 	                	% 	 	 	                	% 	 	 	                	% 	 			
	 Principal Allocation Percentage
	  	 	                	% 	 	 	                	% 	 	 	                	% 	 			
	 Collections of Finance Charge Receivables
	  	$	                	 	 	$	                	 	 	$	                	 	 			
	 Collections of Principal Receivables
	  	$	                	 	 	$	                	 	 	$	                	 	 			
	 Defaulted Amount
	  	$	                	 	 	$	                	 	 	$	                	 	 			
	 Ending Invested Amount/Transferor Amount
	  	$	                	 	 	$	                	 	 	$	                	 	 			
					
	 B. MONTHLY PERIOD FUNDING REQUIREMENTS
	  	CLASS A	 	 	CLASS B	 	 	COLLATERAL
INTEREST	 	 	TOTAL	 
	 Principal Funding Account Balance
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Investment Proceeds for Monthly Period
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Required Reserve Account Amount
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Reserve Account Opening Balance
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Reserve Account Investment Proceeds retained per Section 4.12(b)
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Reserve Account Deposit
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Reserve Draw Amount
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Reserve Account Surplus (after giving effect to any principal distributions on the related
Distribution Date)
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Reserve Account Closing Balance (after giving effect to any principal distributions and Reserve
Account withdrawals on the related Distribution Date)
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 LIBOR Determination Date
	  				 				 				 			

  
 C-1-4 

																	
	 Coupon              to
            
	  	 	                	% 	 	 	                	% 	 	 	                	% 	 	 	                	% 
	 Monthly Interest Due
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Outstanding Monthly Interest Due
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Additional Interest Due
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Total Interest Due
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Investor Default Amount
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Investor Monthly Fees Due
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Investor Additional Amounts Due
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Total Due
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Reallocated Investor Finance Charge Collections
	  				 				 				 	$	                	 
	 Interest and Principal Funding Investment Proceeds
	  				 				 				 	$	                	 
	 Interest on Reserve Account
	  				 				 				 	$	                	 
	 Series Adjusted Portfolio Yield
	  				 				 				 	 	                	% 
	 Base Rate
	  				 				 				 	 	                	% 
	 Excess Spread Percentage
	  				 				 				 	 	                	% 
					
	 C. CERTIFICATES – BALANCES AND DISTRIBUTIONS
	  	CLASS A	 	 	CLASS B	 	 	COLLATERAL
INTEREST	 	 	TOTAL	 
	 Beginning Certificates Balance
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Distributions of Interest
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Deposits to the Principal Funding Account
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Distributions of Principal
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Total Distributions
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 
	 Ending Certificates Balance
	  	$	                	 	 	$	                	 	 	$	                	 	 	$	                	 

  
 C-1-5 

 
							
			
	 D)
	  	Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original certificate principal amount.	  	
				
		  	 (1)
	  	 The total amount of the distribution:
	  	$                
				
		  	 (2)
	  	 The amount of the distribution in respect of Class A Monthly Interest:
	  	$                
				
		  	 (3)
	  	 The amount of the distribution in respect of Class A Outstanding Monthly Interest:
	  	$                
				
		  	 (4)
	  	 The amount of the distribution in respect of Class A Additional Interest:
	  	$                
				
		  	 (5)
	  	 The amount of the distribution in respect of principal of the Class A Certificates:
	  	$                
			
	 E)
	  	 Class A Investor Charge-Offs and Reimbursement of Class A Investor
Charge-Offs.
	  	
				
		  	 (1)
	  	 The total amount of Class A Investor Charge-Offs:
	  	$                
				
		  	 (2)
	  	 The amount of Class A Investor Charge-Offs per $1,000 original certificate principal
amount:
	  	$                
				
		  	 (3)
	  	 The total amount reimbursed in respect of Class A Investor Charge-Offs:
	  	$                
				
		  	 (4)
	  	 The amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original
certificate principal amount:
	  	$                
				
		  	 (5)
	  	 The amount, if any, by which the outstanding principal balance of the Class A Certificates
exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date:
	  	$                
			
	 F)
	  	Information regarding distributions in respect of the Class B Certificates, per $1,000 original certificate principal amount.	  	
				
		  	 (1)
	  	 The total amount of the distribution in respect of Class B Certificates:
	  	$                
				
		  	 (2)
	  	 The amount of the distribution in respect of Class B Monthly Interest:
	  	$                

  
 C-1-6 

 
							
				
		  	(3)	  	The amount of the distribution in respect of Class B Outstanding Monthly Interest:	  	$                
				
		  	(4)	  	The amount of the distribution in respect of Class B Additional Interest:	  	$                
				
		  	(5)	  	The amount of the distribution in respect of principal of the Class B Certificates:	  	$                
			
	G)	  	Amount of reductions in Class B Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Class B Invested Amount on such Distribution Date.	  	
				
		  	(1)	  	The amount of reductions in Class B Invested Amount pursuant to clauses (c), (d) and (e) of the definition of Class B Invested Amount:	  	$                
				
		  	(2)	  	The amount of the reductions in the Class B Invested Amount per $1,000 original certificate principal amount:	  	$                
				
		  	(3)	  	The total amount reimbursed in respect of such reductions in the Class B Invested Amount:	  	$                
				
		  	(4)	  	The amount reimbursed in respect of such reductions in the Class B Invested Amount, per $1,000 original certificate principal amount:	  	$                
				
		  	(5)	  	The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date:	  	$                
			
	H)	  	Information regarding distributions on the Distribution Date to the Collateral Interest Holder.	  	
				
		  	(1)	  	The total amount distributed to the Collateral Interest Holder:	  	$                
				
		  	(2)	  	The amount of the distribution in respect of Collateral Senior Minimum Monthly Interest:	  	$                
				
		  	(3)	  	The amount of the distribution in respect of Collateral Senior Additional Interest:	  	$                
				
		  	(4)	  	The amount distributed to the Collateral Interest Holder in respect of principal on the Collateral Invested Amount:	  	$                

  
 C-1-7 

 
							
		  	(5)	  	The amount of the distribution to the Collateral Interest Holder in respect of remaining Excess Spread:	  	$                
			
	I)	  	Amount of reductions in Collateral Invested Amount pursuant to clauses (c), (d), and (e) of the definition of Collateral Invested Amount.	  	
				
		  	(1)	  	The amount of reductions in the Collateral Invested Amount pursuant to clauses (c), (d) and (e) of the definition of Collateral Invested Amount:	  	$                
				
		  	(2)	  	The total amount reimbursed in respect of such reductions in the Collateral Invested Amount:	  	$                

  
 C-1-8 

					
	 J. APPLICATION OF REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS
	  

	 1. CLASS A AVAILABLE FUNDS
	  	$	                    	 
	 a.      Class A Monthly Interest
	  	$	                    	 
	 b.      Class A Outstanding Monthly Interest
	  	$	                    	 
	 c.      Class A Additional Interest
	  	$	                    	 
	 d.      Class A Investor Default Amount (treated as Available
Principal Collections)
	  	$	                    	 
	 e.      Excess Spread
	  	$	                    	 
	 2. CLASS B AVAILABLE FUNDS
	  	$	                    	 
	 a.      Class B Monthly Interest
	  	$	                    	 
	 b.      Class B Outstanding Monthly Interest
	  	$	                    	 
	 c.      Class B Additional Interest
	  	$	                    	 
	 d.      Excess Spread
	  	$	                    	 
	 3. COLLATERAL AVAILABLE FUNDS
	  	$	                    	 
	 a.      Excess Spread
	  	$       	                    	       
	 4. TOTAL EXCESS SPREAD
	  	$	                    	 
	 K. REALLOCATED PRINCIPAL COLLECTIONS
	  

	 1. Principal Allocation Percentage
	  	 	                    	% 
	 2. Series 2017-8 Allocable Principal Collections
	  	$	                    	 
	 3. Principal Allocation Percentage of Series 2017-8
Allocable Principal Collections
	  	$	                    	 
	 4. Reallocated Principal Collections Required to fund the Required Amount
	  	$	                    	 
	 5. Item 3 minus Item 4
	  	$	                    	 
	 6. Shared Principal Collections from other Series allocated to Series 2017-8
	  	$	                    	 
	 7. Other amounts treated as Available Principal Collections
	  	$	                    	 
	 8. Available Principal Collections (total of items 5, 6 and 7)
	  	$	                    	 
	 L. APPLICATION OF AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING
PERIOD
	  

	 1. Collateral Invested Amount
	  	$	                    	 
	 2. Required Collateral Invested Amount
	  	$	                    	 
	 3. Excess of Collateral Invested Amount over Required Collateral Invested Amount
	  	$	                    	 
	 4. Treated as Shared Principal Collections
	  	$	                    	 
	 M. APPLICATION OF PRINCIPAL COLLECTIONS DURING ACCUMULATION OR AMORTIZATION
PERIOD
	  

	 1. Principal Funding Account
	  	$	                    	 
	 2. Excess of Collateral Invested Amount over Required Collateral Invested Amount
	  	$	                    	 
	 3. Distribution of Principal
	  	$	                    	 

  
 C-1-9 

					
	 4. Treated as Shared Principal Collections
	  	$	                    	 
	 N. APPLICATION OF EXCESS SPREAD AND EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO
SERIES 2017-8
	  

	 1. Excess Spread
	  	$	                    	 
	 2. Excess Finance Charge Collections
	  	$	                    	 
	 3. Applied to fund Class A Required Amount
	  	$	                    	 
	 4. Class A Investor Charge-Offs treated as Available Principal Collections
	  	$	                    	 
	 5. Applied to fund overdue Class B Interest
	  	$	                    	 
	 6. Applied to fund Class B Required Amount
	  	$	                    	 
	 7. Reduction of Class B Invested Amount treated as Available Principal Collections
	  	$	                    	 
	 8. Applied to Collateral Senior Minimum
Monthly Interest
	  	$	                    	 
	 9. Applied to unpaid Monthly Servicing Fee
	  	$	                    	 
	 10. Collateral Default Amount treated as Available Principal Collections
	  	$	                    	 
	 11. Reduction of Collateral Invested Amount treated as Available Principal Collections
	  	$	                    	 
	 12. Deposited to Reserve Account
	  	$	                    	 
	 13. Remaining Excess Spread distributed to Collateral Interest Holder(s)
	  	$	                    	 
	 O. YIELD AND BASE RATE
	  

	 1. Base Rate
	  			
	 a.      Current Monthly Period
	  	 	                    	% 
	 b.      Prior Monthly Period
	  	 	                    	% 
	 c.      Second Prior Monthly Period
	  	 	                    	% 
	 2. Three Month Average Base Rate
	  	 	                    	% 
	 3. Series Adjusted Portfolio Yield
	  			
	 a.      Current Monthly Period
	  	 	                    	% 
	 b.      Prior Monthly Period
	  	 	                    	% 
	 c.      Second Prior Monthly Period
	  	 	                    	% 
	 4. Three Month average Series Adjusted Portfolio Yield
	  	 	                    	% 

  
 C-1-10 

					
	 5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base
Rate?
	  	 	[Yes/No	] 
	 P. REASSIGNMENT AMOUNT
	  

	 Adjusted Invested Amount
	  	$	                    	 
	 Monthly Interest
	  	$	                    	 
	 Monthly Interest previously due but not paid
	  	$	                    	 
	 Additional Interest
	  	$	                    	 
	 Additional Interest previously due but not paid
	  	$	                    	 
	 Reassignment Amount
	  	$	                    	 

  
 C-1-11 

 EXHIBIT C-2 

FORM OF ANNUAL PAYMENT INFORMATION 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2017-8 

FOR THE YEAR ENDED DECEMBER 31, 20[    ] 

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc. (“TRS”), as Servicer
pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and as otherwise amended and supplemented, the “Pooling and Servicing Agreement”), among TRS, American
Express Receivable Financing Corporation II, American Express Receivable Financing Corporation III LLC and American Express Receivable Financing Corporation IV LLC, as transferors (together, the “Transferors”) and The Bank of New York
Mellon, as trustee (the “Trustee”), does hereby certify as follows: 
 Capitalized terms used in this Certificate have their
respective meanings set forth in the Pooling and Servicing Agreement or the Series 2017-8 Supplement, dated as of October 30, 2017, among TRS, the Transferors and the Trustee (as amended and supplemented,
the “Supplement”), as applicable. 
 Pursuant to Section 5.01 of the Series Supplement, the Servicer instructed the Trustee
to pay in accordance with Section 5.01 from the Interest Funding Account or the Principal Funding Account, as applicable, the following aggregate amounts during the year ended December 31, 20[    ]: 

 

							
	A)	  	Pursuant to subsection 5.01(a):	  	
			
		  	Interest distributed to Class A Certificateholders	  	$                
			
	B)	  	Pursuant to subsection 5.01(b):	  	
			
		  	On the Expected Final Payment Date or a Special Payment Date, if applicable, principal distributed to the Class A Certificateholders	  	$                
			
	C)	  	Pursuant to subsection 5.01(c):	  	
			
		  	Interest distributed to Class B Certificateholders	  	$                
			
	D)	  	Pursuant to subsection 5.01(d):	  	
			
		  	On the Expected Final Payment Date or a Special Payment Date, if applicable, on or after the date Class A Invested Amount is paid in full, principal distributed to the Class B Certificateholders	  	$                
			
	E)	  	Pursuant to subsection 5.01(e):	  	
			
		  	Aggregate amount distributed to the Collateral Interest Holder in respect of interest	  	$                

  
 C-2-1 

							
			
		  	 Aggregate amount distributed to the Collateral Interest Holder in respect of principal
	  	
$                

 IN WITNESS WHEREOF, the undersigned has duly executed this Certificate this [    ] day of January,
20[    ]. 
  

			
	AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., as Servicer
		
	By:	 	 
		 	Name:
		 	Title:

  

  
 C-2-2 

 EXHIBIT D 

FORM OF MONTHLY SERVICER’S CERTIFICATE 

AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC. 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc., as Servicer
(“TRS”), pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and as otherwise amended and supplemented, the “Agreement”), as
supplemented by the Series Supplements (as amended and supplemented, the “Series Supplements”), among TRS, as Servicer, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing
Corporation IV LLC, as Transferors, and The Bank of New York Mellon, as Trustee, does hereby certify as follows: 
 1. Capitalized terms used
in this Certificate have their respective meanings as set forth in the Agreement or the Series Supplement, as applicable. 
 2. TRS is, as of
the date hereof, the Servicer under the Agreement. 
 3. The undersigned is a Servicing Officer. 

4. This Certificate relates to the Distribution Date occurring on
                                 , 20     and covers activity from
                                 , 20     through
                                 , 20    . 

5. As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations
under the Agreement through the Monthly Period preceding such Distribution Date [or, if there has been a default in the performance of any such obligation, set forth in detail the (i) nature of such default, (ii) the action taken by the
Servicer, if any, to remedy such default and (iii) the current status of each such default; if applicable, insert “None”]. 

6. As of the date hereof, to the best knowledge of the undersigned, no Pay Out Event occurred on or prior to such Distribution Date. 

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

			
	AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.,
	as Servicer
		
	By:	 	 
		 	Name:
		 	Title:

  
 D-1 

 EXHIBIT E 

FORM OF INVESTMENT LETTER 
 [Date]

  

	 	Re:	American Express Credit Account Master Trust; 

 Purchases of Series 2017-8 Collateral Interest 
 Ladies and Gentlemen: 

This letter (the “Investment Letter”) is delivered by the undersigned (the “Purchaser”) pursuant to Section 9.07 of
the Series 2017-8 Supplement, dated as of October 30, 2017 (the “Series Supplement”) to Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and
restated and as otherwise amended and supplemented, the “Agreement”), each among The Bank of New York Mellon, as Trustee, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV
LLC, as Transferors, and American Express Travel Related Services Company, Inc., as Servicer. Capitalized terms used herein without definition shall have the meanings set forth in the Agreement. The Purchaser represents to and agrees with the
Transferors as follows: 
  

	 	(a)	The Purchaser has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of its investment in the Collateral Interest and is able to bear the economic risk of
such investment. 

  

	 	(b)	The Purchaser is an “accredited investor,” as defined in Rule 501, promulgated by the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the
“Securities Act”), or is a sophisticated institutional investor. The Purchaser understands that the offering and sale of the Collateral Interest has not been and will not be registered under the Securities Act and has not and will not be
registered or qualified under any applicable “Blue Sky” law, and that the offering and sale of the Collateral Interest has not been reviewed by, passed on or submitted to any federal or state agency or commission, securities exchange or
other regulatory body. 

  

	 	(c)	The Purchaser is acquiring an interest in the Collateral Interest without a view to any distribution, resale or other transfer thereof except, with respect to any Collateral Interest or any interest or participation
therein, as contemplated in the following sentence. The Purchaser will not resell or otherwise transfer any interest or participation in the Collateral Interest, except in accordance with Section 9.07 of the Series Supplement and (i) in a
transaction exempt from the registration requirements of the Securities Act and applicable state securities or “blue sky” laws; (ii) to a Transferor or any affiliate of a Transferor; or (iii) to a person who the Purchaser
reasonably believes is a qualified institutional buyer (within the meaning thereof in Rule 144A under the Securities Act) that is aware that the resale or other transfer is being made in reliance upon Rule 144A. In connection therewith, the
Purchaser hereby agrees that it will not resell or otherwise transfer the Collateral Interest or any interest therein unless the purchaser thereof provides to the addressee hereof a letter substantially in the form hereof. 

  
 E-1 

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

  

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

 

			
	Very truly yours,
	
	[NAME OF PURCHASER]
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	AGREED TO AS OF THE DATE FIRST ABOVE WRITTEN:
	
	 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC,

as Transferor

		
	By:	 	 
		 	Name:
		 	Title:
	
	 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC,

as Transferor

		
	By:	 	 
		 	Name:
		 	Title:

  
 E-2Exhibit

EXHIBIT 4.1

DB MASTER FINANCE LLC,  
as Master Issuer,
and
CITIBANK, N.A.,
 
as Trustee and Series 2017-1 Securities Intermediary
 
SERIES 2017-1 SUPPLEMENT
Dated as of October 23, 2017
to
BASE INDENTURE
Dated as of January 26, 2015

$150,000,000 Series 2017-1 Variable Funding Senior Notes, Class A-1
$600,000,000 Series 2017-1 3.629% Fixed Rate Senior Secured Notes, Class A-2-I
$800,000,000 Series 2017-1 4.030% Fixed Rate Senior Secured Notes, Class A-2-II

TABLE OF CONTENTS
Page
PRELIMINARY STATEMENT    1
DESIGNATION    1
ARTICLE I DEFINITIONS    1
ARTICLE II INITIAL ISSUANCE, INCREASES AND DECREASES OF SERIES 2017-1 CLASS A-1 OUTSTANDING PRINCIPAL AMOUNT    2
		
	Section 2.1
	Procedures for Issuing and Increasing the Series 2017-1 Class A-1 Outstanding Principal Amount    2

		
	Section 2.2
	Procedures for Decreasing the Series 2017-1 Class A-1 Outstanding Principal Amount    3

ARTICLE III SERIES 2017-1 ALLOCATIONS; PAYMENTS    5
		
	Section 3.1
	Allocations with Respect to the Series 2017-1 Notes    5

		
	Section 3.2
	Weekly Allocation Date Applications; Quarterly Payment Date Applications    5

		
	Section 3.3
	Certain Distributions from Series 2017-1 Distribution Accounts    5

		
	Section 3.4
	Series 2017-1 Class A-1 Interest and Certain Fees    6

		
	Section 3.5
	Series 2017-1 Class A-2 Interest    7

		
	Section 3.6
	Payment of Series 2017-1 Note Principal    8

		
	Section 3.7
	Series 2017-1 Class A-1 Distribution Account    15

		
	Section 3.8
	Series 2017-1 Class A-2 Distribution Account    16

		
	Section 3.9
	Trustee as Securities Intermediary    16

		
	Section 3.10
	Manager    18

		
	Section 3.11
	Replacement of Ineligible Accounts    18

		
	Section 3.12
	Interest Reserve Release Events    19

ARTICLE IV FORM OF SERIES 2017-1 NOTES    19
		
	Section 4.1
	Issuance of Series 2017-1 Class A-1 Notes    19

		
	Section 4.2
	Issuance of Series 2017-1 Class A-2 Notes    20

		
	Section 4.3
	Transfer Restrictions of Series 2017-1 Class A-1 Notes    22

		
	Section 4.4
	Transfer Restrictions of Series 2017-1 Class A-2 Notes    24

		
	Section 4.5
	[Reserved]    30

		
	Section 4.6
	Note Owner Representations and Warranties    30

		
	Section 4.7
	Limitation on Liability    32

ARTICLE V GENERAL    32
		
	Section 5.1
	Information    33

		
	Section 5.2
	Exhibits    33

		
	Section 5.3
	Ratification of Base Indenture    34

		
	Section 5.4
	Certain Notices to the Rating Agencies    34

		
	Section 5.5
	Prior Notice by Trustee to the Controlling Class Representative and Control Party    34

		
	Section 5.6
	Counterparts    34

		
	Section 5.7
	Governing Law    34

		
	Section 5.8
	Amendments    34

		
	Section 5.9
	Termination of Series Supplement    34

		
	Section 5.10
	Entire Agreement    34

ANNEXES
Annex A    Series 2017-1 Supplemental Definitions List
EXHIBITS
Exhibit A-1-1:    Form of Series 2017-1 Class A-1 Advance Note
Exhibit A-1-2:    Form of Series 2017-1 Class A-1 Swingline Note
Exhibit A-1-3:    Form of Series 2017-1 Class A-1 L/C Note
Exhibit A-2-1:    Form of Rule 144A Global Series 2017-1 Class A-2-I Note
Exhibit A-2-2:    Form of Rule 144A Global Series 2017-1 Class A-2-II Note
Exhibit A-2-3:    Form of Temporary Regulation S Global Series 2017-1 Class A-2-I Note
Exhibit A-2-4:    Form of Temporary Regulation S Global Series 2017-1 Class A-2-II Note
Exhibit A-2-5:    Form of Permanent Regulation S Global Series 2017-1 Class A-2-I Note
Exhibit A-2-6:    Form of Permanent Regulation S Global Series 2017-1 Class A-2-II Note
Exhibit B-1:    Form of Transferee Certificate
Exhibit B-2:    Form of Transferee Certificate
Exhibit B-3:    Form of Transferee Certificate
Exhibit B-4:    Form of Transferee Certificate
Exhibit C:    Form of Quarterly Noteholder’s Report

SERIES 2017-1 SUPPLEMENT, dated as of October 23, 2017 (this “Series Supplement”), by and between DB MASTER FINANCE LLC, a Delaware limited liability company (the “Master Issuer”) and CITIBANK, N.A., a national banking association, as trustee (in such capacity, the “Trustee”) and as Series 2017-1 Securities Intermediary, to the Base Indenture, dated as of January 26, 2015, by and between the Master Issuer and CITIBANK, N.A., as Trustee and as Securities Intermediary (as amended, modified or supplemented from time to time, exclusive of Series Supplements, the “Base Indenture”).
PRELIMINARY STATEMENT
WHEREAS, Sections 2.2 and 13.1 of the Base Indenture provide, among other things, that the Master Issuer and the Trustee may at any time and from time to time enter into a Series Supplement to the Base Indenture for the purpose of authorizing the issuance of one or more Series of Notes (as defined in Annex A of the Base Indenture) upon satisfaction of the conditions set forth therein; and
WHEREAS, all such conditions have been met for the issuance of the Series of Notes authorized hereunder.
NOW, THEREFORE, the parties hereto agree as follows:
DESIGNATION
There is hereby created a Series of Notes to be issued pursuant to the Base Indenture and this Series Supplement, and such Series of Notes shall be designated as Series 2017-1 Notes.  On the Series 2017-1 Closing Date, two Classes of Notes of such Series shall be issued:  (a) Series 2017-1 Variable Funding Senior Notes, Class A-1 (as referred to herein, the “Series 2017-1 Class A-1 Notes”) and (b) Series 2017-1 Senior Notes, Class A-2 (as referred to herein, the “Series 2017-1 Class A-2 Notes”).  The Series 2017-1 Class A-1 Notes shall be issued in three subclasses:  (i) Series 2017-1 Class A-1 Advance Notes (as referred to herein, the “Series 2017-1 Class A-1 Advance Notes”), (ii) Series 2017-1 Class A-1 Swingline Notes (as referred to herein, the “Series 2017-1 Class A-1 Swingline Notes”), and (iii) Series 2017-1 Class A-1 L/C Notes (as referred to herein, the “Series 2017-1 Class A-1 L/C Notes”).  The Series 2017-1 Class A-2 Notes shall be issued in two subclasses: (i) Series 2017-1 3.629% Fixed Rate Senior Secured Notes, Class A-2-I (as referred to herein, the “Series 2017-1 Class A-2-I Notes”) and (ii) Series 2017-1 4.030% Fixed Rate Senior Secured Notes, Class A-2-II (as referred to herein, the “Series 2017-1 Class A-2-II Notes).  For purposes of the Indenture, the Series 2017-1 Class A-1 Notes and the Series 2017-1 Class A-2 Notes shall be deemed to be “Senior Notes”.
ARTICLE I 
 
DEFINITIONS 
All capitalized terms used herein (including in the preamble and the recitals hereto) shall have the meanings assigned to such terms in the Series 2017-1 Supplemental Definitions List attached hereto as Annex A (the “Series 2017-1 Supplemental Definitions List”) as such Series 2017-1 Supplemental Definitions List may be amended, supplemented or otherwise modified from time to time in accordance with the terms hereof.  All capitalized terms not otherwise defined therein shall have the meanings assigned thereto in the Base Indenture Definitions List attached to the Base Indenture as Annex A thereto, as such Base Indenture Definitions List may be amended, supplemented or otherwise modified from time to time in accordance with the terms of the Base Indenture.  Unless otherwise specified herein, all Article, Exhibit, Section or Subsection references herein shall refer to Articles, Exhibits, Sections or Subsections of the Base Indenture or this Series Supplement (as indicated herein).  Unless otherwise stated herein, as the context otherwise requires or if such term is otherwise defined in the Base Indenture, each capitalized term used or defined herein shall relate only to the Series 2017-1 Notes and not to any other Series of Notes issued by the Master Issuer.
ARTICLE II     
 
INITIAL ISSUANCE, INCREASES AND DECREASES OF 
SERIES 2017-1 CLASS A-1 OUTSTANDING PRINCIPAL AMOUNT
Section 2.1    Procedures for Issuing and Increasing the Series 2017-1 Class A-1 Outstanding Principal Amount.
(a)    Subject to satisfaction of the conditions precedent to the making of Series 2017-1 Class A-1 Advances set forth in the Series 2017-1 Class A-1 Note Purchase Agreement, (i) on the Series 2017-1 Closing Date, the Master Issuer may cause the Series 2017-1 Class A-1 Initial Advance Principal Amount to become outstanding by drawing ratably, at par, the initial principal amounts of the Series 2017-1 Class A-1 Advance Notes corresponding to the aggregate amount of the Series 2017-1 Class A-1 Advances made on the Series 2017-1 Closing Date (the “Series 2017-1 Class A-1 Initial Advance”) and (ii) on any Business Day during the Series 2017-1 Class A-1 Commitment Term that does not occur during a Cash Trapping Period, the Master Issuer may increase the Series 2017-1 Class A-1 Outstanding Principal Amount (such increase referred to as an “Increase”), by drawing ratably (or as otherwise set forth in the Series 2017-1 Class A-1 Note Purchase Agreement), at par, additional principal amounts on the Series 2017-1 Class A-1 Advance Notes corresponding to the aggregate amount of the Series 2017-1 Class A-1 Advances made on such Business Day; provided that at no time may the Series 2017-1 Class A-1 Outstanding Principal Amount exceed the Series 2017-1 Class A-1 Notes Maximum Principal Amount.  The Series 2017-1 Class A-1 Initial Advance and each Increase shall be made in accordance with the provisions of Sections 2.02 and 2.03 of the Series 2017-1 Class A-1 Note Purchase Agreement and shall be ratably (except as otherwise set forth in the Series 2017-1 Class A-1 Note Purchase Agreement) allocated among the Series 2017-1 Class A-1 Noteholders (other than the Series 2017-1 Class A-1 Subfacility Noteholders in their capacity as such) as provided therein.  Proceeds from the Series 2017-1 Class A-1 Initial Advance and each Increase shall be paid as directed by the Master Issuer in the applicable Series 2017-1 Class A-1 Advance Request or as otherwise set forth in the Series 2017-1 Class A-1 Note Purchase Agreement.  Upon receipt of written notice from the Master Issuer or the Series 2017-1 Class A-1 Administrative Agent of the Series 2017-1 Class A-1 Initial Advance and any Increase, the Trustee shall indicate in its books and records the amount of the Series 2017-1 Class A-1 Initial Advance or such Increase, as applicable.
(b)    Subject to satisfaction of the applicable conditions precedent set forth in the Series 2017-1 Class A-1 Note Purchase Agreement, on the Series 2017-1 Closing Date, the Master Issuer may cause (i) the Series 2017-1 Class A-1 Initial Swingline Principal Amount to become outstanding by drawing, at par, the initial principal amounts of the Series 2017-1 Class A-1 Swingline Notes corresponding to the aggregate amount of the Series 2017-1 Class A-1 Swingline Loans made on the Series 2017-1 Closing Date pursuant to Section 2.06 of the Series 2017-1 Class A-1 Note Purchase Agreement (the “Series 2017-1 Class A-1 Initial Swingline Loan”) and (i) the Series 2017-1 Class A-1 Initial Aggregate Undrawn L/C Face Amount to become outstanding by drawing, at par, the initial principal amounts of the Series 2017-1 Class A-1 L/C Notes corresponding to the aggregate Undrawn L/C Face Amount of the Letters of Credit issued on the Series 2017-1 Closing Date pursuant to Section 2.07 of the Series 2017-1 Class A-1 Note Purchase Agreement; provided that at no time may the Series 2017-1 Class A-1 Outstanding Principal Amount exceed the Series 2017-1 Class A-1 Notes Maximum Principal Amount.  The procedures relating to increases in the Series 2017-1 Class A-1 Outstanding Subfacility Amount (each such increase referred to as a “Subfacility Increase”) through borrowings of Series 2017-1 Class A-1 Swingline Loans and issuance or incurrence of Series 2017-1 Class A-1 L/C Obligations are set forth in the Series 2017-1 Class A-1 Note Purchase Agreement.  Upon receipt of written notice from the Master Issuer or the Series 2017-1 Class A-1 Administrative Agent of the issuance of the Series 2017-1 Class A-1 Initial Swingline Principal Amount and the Series 2017-1 Class A-1 Initial Aggregate Undrawn L/C Face Amount and any Subfacility Increase, the Trustee shall indicate in its books and records the amount of each such issuance and Subfacility Increase.
Section 2.2    Procedures for Decreasing the Series 2017-1 Class A-1 Outstanding Principal Amount.
(a)    Mandatory Decrease.  Whenever a Series 2017-1 Class A-1 Excess Principal Event shall have occurred, then, on or before 3:00 p.m. (New York City time) on the fourth Business Day immediately following the date on which the Manager or the Master Issuer obtains knowledge of such Series 2017-1 Class A-1 Excess Principal Event, the Master Issuer shall deposit in the Series 2017-1 Class A-1 Distribution Account the amount of funds referred to in the next sentence and shall direct the Trustee in writing to distribute such funds in accordance with Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.  Such written direction of the Master Issuer shall include a report that will provide for the distribution of (i) funds sufficient to decrease the Series 2017-1 Class A-1 Outstanding Principal Amount by the lesser of (x) the amount necessary, so that after giving effect to such decrease of the Series 2017-1 Class A-1 Outstanding Principal Amount on such date, no such Series 2017-1 Class A-1 Excess Principal Event shall exist and (y) the amount that would decrease the Series 2017-1 Class A-1 Outstanding Principal Amount to zero (each decrease of the Series 2017-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(a), or any other required payment of principal in respect of the Series 2017-1 Class A-1 Notes pursuant to Section 3.6 of this Series Supplement, a “Mandatory Decrease”), plus (ii) any associated Series 2017-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2017-1 Class A-1 Note Purchase Agreement).  Such Mandatory Decrease shall be allocated among the Series 2017-1 Class A-1 Noteholders in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.  Upon obtaining knowledge of such a Series 2017-1 Class A-1 Excess Principal Event, the Master Issuer promptly, but in any event within two (2) Business Days, shall deliver written notice (which may be given by e‐mail of a .pdf or similar file) of the need for any such Mandatory Decreases to the Trustee and the Series 2017-1 Class A-1 Administrative Agent.  In connection with any Mandatory Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).
(b)    Voluntary Decrease.  Except as provided in Section 2.2(d), on any Business Day, the Master Issuer may decrease the Series 2017-1 Class A-1 Outstanding Principal Amount (each such decrease of the Series 2017-1 Class A-1 Outstanding Principal Amount pursuant to this Section 2.2(b), a “Voluntary Decrease”) by depositing in the Series 2017-1 Class A-1 Distribution Account not later than 10:00 a.m. (New York City time) on the date specified as the decrease date in the prior written notice referred to below and providing a written report to the Trustee directing the Trustee to distribute in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement (i) an amount (subject to the last sentence of this Section 2.2(b)) up to the Series 2017-1 Class A-1 Outstanding Principal Amount equal to the amount of such Voluntary Decrease, plus (ii) any associated Series 2017-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2017-1 Class A-1 Note Purchase Agreement); provided that to the extent the deposit into the Series 2017-1 Class A-1 Distribution Account described above is made after 3:00 p.m. (New York City time) on any Business Day, the same shall be deemed to be deposited on the following Business Day; provided, further, that (x) in the case of Eurodollar Advances or CP Advances, the Master Issuer shall provide written notice no later than 12:00 p.m. (New York City time) at least three (3) Business Days prior to such Voluntary Decrease and (y) in the case of Base Rate Advances, the Master Issuer shall provide written notice no later than 12:00 p.m. (New York City time) at least one (1) Business Day prior to such Voluntary Decrease, in each case to each Series 2017-1 Class A-1 Investor and the Series 2017-1 Class A-1 Administrative Agent; provided, further, that the Master Issuer shall provide written notice to the Trustee of any Voluntary Decrease no later than 12:00 p.m. (New York City time) at least one (1) Business Day prior to such Voluntary Decrease.  Each such Voluntary Decrease shall be in a minimum principal amount as provided in the Series 2017-1 Class A-1 Note Purchase Agreement.  In connection with any Voluntary Decrease, the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).
(c)    Upon distribution to the Series 2017-1 Class A-1 Noteholders of principal of the Series 2017-1 Class A-1 Advance Notes in connection with each Decrease, the Trustee shall indicate in its books and records such Decrease.
(d)    The Series 2017-1 Class A-1 Note Purchase Agreement sets forth additional procedures relating to decreases in the Series 2017-1 Class A-1 Outstanding Subfacility Amount (each such decrease, together with any Voluntary Decrease or Mandatory Decrease allocated to the Series 2017-1 Class A-1 Subfacility Noteholders, referred to as a “Subfacility Decrease”) through (i) borrowings of Series 2017-1 Class A-1 Advances to repay Series 2017-1 Class A-1 Swingline Loans and Series 2017-1 Class A-1 L/C Obligations or (ii) optional prepayments of Series 2017-1 Class A-1 Swingline Loans on same day notice.  Upon receipt of written notice from the Master Issuer or the Series 2017-1 Class A-1 Administrative Agent of any Subfacility Decrease, the Trustee shall indicate in its books and records the amount of such Subfacility Decrease.
ARTICLE III     
SERIES 2017-1 ALLOCATIONS; PAYMENTS 
With respect to the Series 2017-1 Notes only, the following shall apply:
Section 3.1    Allocations with Respect to the Series 2017-1 Notes.  On the Series 2017-1 Closing Date, $5,550,000 of the net proceeds from the initial sale of the Series 2017-1 Notes will be deposited into the Senior Notes Interest Reserve Account and the remainder of the net proceeds from the sale of the Series 2017-1 Notes will be paid to, or at the direction of, the Master Issuer.
Section 3.2    Weekly Allocation Date Applications; Quarterly Payment Date Applications.  On each Weekly Allocation Date, the Master Issuer (or the Manager on its behalf) shall instruct the Trustee in writing to allocate from the Collection Account all amounts relating to the Series 2017-1 Notes pursuant to, and to the extent that funds are available therefor in accordance with the provisions of, the Priority of Payments.  
Section 3.3    Certain Distributions from Series 2017-1 Distribution Accounts.  On each Quarterly Payment Date commencing on February 20, 2018, based solely upon the most recent Quarterly Noteholder’s Report, the Trustee shall, in accordance with Section 6.1 of the Base Indenture, remit (i) to the Series 2017-1 Class A-1 Noteholders from the Series 2017-1 Class A-1 Distribution Account, the amounts withdrawn from the Senior Notes Interest Payment Account, Class A-1 Notes Commitment Fees Account and Senior Notes Principal Payment Account, pursuant to Section 5.12(a), (d) or (h), as applicable, of the Base Indenture, and deposited in the Series 2017-1 Class A-1 Distribution Account for the payment of interest and fees and, to the extent applicable, principal on such Quarterly Payment Date and (ii) to the Series 2017-1 Class A-2 Noteholders from the Series 2017-1 Class A-2 Distribution Account, the amounts withdrawn from the Senior Notes Interest Payment Account and Senior Notes Principal Payment Account, as applicable, pursuant to Section 5.12(a) or (h), as applicable, of the Base Indenture, and deposited in the Series 2017-1 Class A-2 Distribution Account for the payment of interest and, to the extent applicable, principal on such Quarterly Payment Date.  
Notwithstanding anything to the contrary herein or in the Base Indenture, except as (i) provided under Section 3.6(f) or (ii) explicitly directed by the Master Issuer (or the Manager on its behalf) with respect to payments of Quarterly Scheduled Principal Amounts made under Section 3.6(c)(ii) following the satisfaction of the Series 2017‐1 Non-Amortization Test, each payment in respect of the Series 2017-1 Class A-2 Notes shall be distributed between the Tranches in accordance with (A) such amounts due with respect to interest on, principal of or otherwise with respect to such Tranches as provided hereunder or (B) if not otherwise provided hereunder, the Tranche Percentage of such payment amount applicable to each such Tranche; provided that, in each case, any shortfall in such payment amount shall be allocated based on the Tranche Percentage applicable to each such Tranche; provided, further, that all distributions to Noteholders of a Tranche shall be ratably allocated among the Noteholders within each applicable Tranche based on their respective portion of the Series 2017-1 Outstanding Principal Amount of such Tranche. 
Section 3.4    Series 2017-1 Class A-1 Interest and Certain Fees. 
(a)    Series 2017-1 Class A-1 Note Rate and L/C Fees.  From and after the Series 2017-1 Closing Date, the applicable portions of the Series 2017-1 Class A-1 Outstanding Principal Amount will accrue (i) interest at the Series 2017-1 Class A-1 Note Rate and (ii) L/C Quarterly Fees at the applicable rates provided therefor in the Series 2017-1 Class A-1 Note Purchase Agreement.  Such accrued interest and fees will be due and payable in arrears on each Quarterly Payment Date from amounts that are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, commencing on February 20, 2018; provided that in any event all accrued but unpaid interest and fees shall be paid in full on the Series 2017-1 Legal Final Maturity Date, on any Series 2017-1 Prepayment Date with respect to a prepayment in full of the Series 2017-1 Class A-1 Notes or on any other day on which all of the Series 2017-1 Class A-1 Outstanding Principal Amount is required to be paid in full.  To the extent any such amount is not paid when due, such unpaid amount will accrue interest at the Series 2017-1 Class A-1 Note Rate. 
(b)    Undrawn Commitment Fees.  From and after the Series 2017-1 Closing Date, Undrawn Commitment Fees will accrue as provided in the Series 2017-1 Class A-1 Note Purchase Agreement.  Such accrued fees will be due and payable in arrears on each Quarterly Payment Date, from amounts that are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, commencing on February 20, 2018.  To the extent any such amount is not paid when due, such unpaid amount will accrue interest at the Series 2017-1 Class A-1 Note Rate.
(c)    Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest.  From and after the Series 2017-1 Class A-1 Notes Renewal Date, if the Series 2017-1 Final Payment has not been made, additional interest will accrue on the Series 2017-1 Class A-1 Outstanding Principal Amount (excluding any Undrawn L/C Face Amounts included therein) at an annual rate equal to 5.00% per annum (the “Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest Rate”) in addition to the regular interest that will continue to accrue at the Series 2017-1 Class A-1 Note Rate.  Any Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest will be due and payable on any applicable Quarterly Payment Date, as and when amounts are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, in the amount so made available, and failure to pay any Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest in excess of available amounts in accordance with the foregoing will not be an Event of Default and interest will not accrue on any unpaid portion thereof.
(d)    Series 2017-1 Class A-1 Initial Interest Accrual Period.  The initial Interest Accrual Period for the Series 2017-1 Class A-1 Notes shall commence on the Series 2017-1 Closing Date and end on (but exclude) February 13, 2018.
Section 3.5    Series 2017-1 Class A-2 Interest.
(a)    Series 2017-1 Class A-2 Note Rate.  From the Series 2017-1 Closing Date until the Series 2017-1 Class A-2 Outstanding Principal Amount with respect to a Tranche has been paid in full, the Series 2017-1 Class A-2 Outstanding Principal Amount with respect to such Tranche (after giving effect to all payments of principal made to Noteholders during such Interest Accrual Period, and also giving effect to repurchases and cancellations and Optional Scheduled Principal Prepayments of Series 2017-1 Class A-2 Notes during such Interest Accrual Period) will accrue interest at the Series 2017-1 Class A-2 Note Rate.  Such accrued interest will be due and payable in arrears on each Quarterly Payment Date, from amounts that are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, commencing on February 20, 2018; provided that in any event all accrued but unpaid interest shall be due and payable in full on the Series 2017-1 Legal Final Maturity Date, on any Series 2017-1 Prepayment Date with respect to a prepayment in full of any Tranche of the Series 2017-1 Class A-2 Notes or on any other day on which all of the Series 2017-1 Class A-2 Outstanding Principal Amount is required to be paid in full.  To the extent any interest accruing at the Series 2017-1 Class A-2 Note Rate is not paid when due, such unpaid interest will accrue interest at the Series 2017-1 Class A-2 Note Rate.  All computations of interest at the Series 2017-1 Class A-2 Note Rate shall be made on the basis of a 360-day year consisting of twelve 30-day months.
(b)    Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest.
(i)    Post-ARD Contingent Interest.  From and after the Series 2017-1 Anticipated Repayment Date, as applicable to each Tranche of Series 2017-1 Class A-2 Notes, until the Series 2017-1 Class A-2 Outstanding Principal Amount with respect to such Tranche has been paid in full, additional interest (“Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest”) will accrue on the applicable Series 2017-1 Class A-2 Notes at an annual interest rate (the “Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest Rate”) equal to the rate determined by the Servicer to be the greater of (A) 5.00% per annum and (B) a rate equal to the amount, if any, by which (a) the sum of (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis) on such Series 2017‐1 Anticipated Repayment Date of the United States Treasury Security having a term closest to 10 years, plus (y) 5.00%, plus (z) (1) with respect to the Series 2017‐1 Class A-2-I Notes, 1.65% and (2) with respect to the Series 2017‐1 Class A-2-II Notes, 1.90%, exceeds (b) the Series 2017‐1 Class A-2 Note Rate with respect to such Tranche.  All computations of Series 2017‐1 Class A-2 Quarterly Post-ARD Contingent Interest shall be made on the basis of a 360-day year and twelve 30-day months; provided that no Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest shall accrue on any Tranche that has been defeased pursuant to Section 3.6(m).
(ii)    Payment of Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest.  Any Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest will be due and payable on any applicable Quarterly Payment Date as and when amounts are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, in the amount so available.  For the avoidance of doubt, Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest shall accrue and be payable in addition to the interest accrued on the applicable Tranche at the applicable Series 2017‐1 Class A-2 Note Rate.  The failure to pay any Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest in excess of available amounts in accordance with the foregoing (including on the Series 2017-1 Legal Final Maturity Date) will not be an Event of Default and interest will not accrue on any unpaid portion thereof.
(c)    Series 2017-1 Class A-2 Initial Interest Accrual Period.  The initial Interest Accrual Period for the Series 2017-1 Class A-2 Notes shall commence on the Series 2017-1 Closing Date and end on (but exclude) February 20, 2018.
Section 3.6    Payment of Series 2017-1 Note Principal.
(a)    Series 2017-1 Notes Principal Payment at Legal Maturity.  The Series 2017-1 Outstanding Principal Amount shall be due and payable on the Series 2017-1 Legal Final Maturity Date.  The Series 2017-1 Outstanding Principal Amount is not prepayable, in whole or in part, except as set forth in this Section 3.6 and, in respect of the Series 2017-1 Class A-1 Outstanding Principal Amount, Section 2.2 of this Series Supplement.
(b)    Series 2017-1 Anticipated Repayment.  The “Series 2017‐1 Anticipated Repayment Date”‐ means, (i) with respect to the Series 2017‐1 Class A-2-I Notes, the Quarterly Payment Date occurring in November 2024 and (ii) with respect to the Series 2017‐1 Class A-2-II Notes, the Quarterly Payment Date occurring in November 2027.  The initial Series 2017-1 Class A-1 Notes Renewal Date will be the Quarterly Payment Date occurring in November 2022, unless extended as provided below in this Section 3.6(b).  
(i)    First Extension Election.  Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, the Manager shall have the option to elect (the “Series 2017-1 First Extension Election”) to extend the Series 2017-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in November 2023 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in November 2022 to the effect that the conditions precedent to such Series 2017-1 First Extension Election have been satisfied.
(ii)    Second Extension Election.  Subject to the conditions set forth in Section 3.6(b)(iii) of this Series Supplement, if the Series 2017-1 First Extension Election has been made and become effective, the Manager shall have the option to elect (the “Series 2017-1 Second Extension Election”) to extend the Series 2017-1 Class A-1 Notes Renewal Date to the Quarterly Payment Date occurring in November 2024 by delivering written notice to the Administrative Agent, the Trustee and the Control Party no later than the Quarterly Payment Date occurring in November 2023 to the effect that the conditions precedent to such Series 2017-1 Second Extension Election have been satisfied.
(iii)    Conditions Precedent to Extension Elections.  It shall be a condition to the extensions of the Series 2017-1 Class A-1 Notes Renewal Date that, in the case of Section 3.6(b)(i), on the Quarterly Payment Date occurring in November 2022, or in the case of Section 3.6(b)(ii), on the Quarterly Payment Date occurring in November 2023 (a) either (x) the rating assigned to the Series 2017-1 Class A-2 Notes by S&P Global Ratings has not been downgraded below “BBB” or withdrawn or (y) if such rating has been downgraded below “BBB” or withdrawn, such downgrade or withdrawal was caused primarily by the bankruptcy, insolvency or other financial difficulty experienced by any entity other than an Affiliate of DBI and (b) all Class A-1 Extension Fees shall have been paid on or prior to such Quarterly Payment Date.  Any notice given pursuant to Section 3.6(b)(i) or (ii) of this Series Supplement shall be irrevocable; provided that if the conditions set forth in this Section 3.6(b)(iii) are not met as of the applicable extension date, the election set forth in such notice shall automatically be deemed ineffective. For the avoidance of doubt, no consent of the Trustee or the Administrative Agent shall be necessary for the effectiveness of the Series 2017-1 Extension Elections.  
(c)    Payment of Accrued Quarterly Scheduled Principal Amount, Quarterly Scheduled Principal Amounts and Quarterly Scheduled Principal Deficiency Amounts.  
(i)    Accrued Quarterly Scheduled Principal Amounts will be allocated on each Weekly Allocation Date (other than in respect of amounts paid pursuant to Section 3.6(f)(ii)) in accordance with the Priority of Payments, in the amount so available, and failure to pay any Accrued Quarterly Scheduled Principal Amounts in excess of available amounts in accordance with the foregoing will not be an Event of Default. 
(ii)    Quarterly Scheduled Principal Amounts will be due and payable on each Quarterly Payment Date (other than in respect of amounts paid pursuant to Section 3.6(f)(ii)) in accordance with Section 5.12 of the Base Indenture, in the amount so available, and failure to pay any Quarterly Scheduled Principal Amounts in excess of available amounts in accordance with the foregoing will not be an Event of Default; provided that Quarterly Scheduled Principal Amounts will only be due and payable on a Quarterly Payment Date if (i) the Series 2017-1 Non-Amortization Test is not satisfied with respect to such Quarterly Payment Date; provided that the Series 2017-1 Non-Amortization Test shall only apply so long as no Rapid Amortization Event shall have occurred and be continuing and (ii) such Quarterly Payment Date is prior to the Series 2017-1 Anticipated Repayment Date, as applicable; provided, further that if the Series 2017‐1 Non-Amortization Test is satisfied, the Master Issuer may, at its option, pay all or any part of such Quarterly Scheduled Principal Amounts with respect to any or all of the Tranches on such Quarterly Payment Date.  
(iii)    On each Weekly Allocation Date and each Quarterly Payment Date, the Quarterly Scheduled Principal Deficiency Amount, if any, with respect to such Quarterly Payment Date will be allocated or due and payable, respectively, as and when amounts are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, in the amount so available, and failure to pay any Quarterly Scheduled Principal Deficiency Amounts in excess of available amounts in accordance with the foregoing will not be an Event of Default.
(d)    Series 2017-1 Notes Mandatory Payments of Principal.
(i)    During any Rapid Amortization Period, principal payments shall be due and payable on each Quarterly Payment Date on the applicable Classes of Series 2017-1 Notes as and when amounts are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, in the amount so available, together with any Series 2017-1 Class A-2 Make-Whole Prepayment Premium required to be paid in connection therewith pursuant to Section 3.6(e) of this Series Supplement; provided, for avoidance of doubt, that it shall not constitute an Event of Default if any such Series 2017-1 Class A-2 Make-Whole Prepayment Premium is not paid because insufficient funds are available to pay such Series 2017-1 Class A-2 Make-Whole Prepayment Premium, in accordance with the Priority of Payments.  Such payments shall be ratably allocated among the Series 2017-1 Noteholders within each applicable Class and Tranche, as applicable, based on their respective portion of the Series 2017-1 Outstanding Principal Amount of such Class and Tranche, as applicable (or, in the case of the Series 2017-1 Class A-1 Noteholders, in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement).    
(ii)    During any Series 2017-1 Class A-1 Notes Amortization Period, principal payments shall be due and payable on each Quarterly Payment Date on the applicable Series 2017-1 Class A-1 Notes as and when amounts are made available for payment thereof (i) on any related Weekly Allocation Date in accordance with the Priority of Payments and (ii) on such Quarterly Payment Date in accordance with Section 5.12 of the Base Indenture, in the amount so available.  Such payments shall be allocated among the Series 2017-1 Class A-1 Noteholders, in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.  For the avoidance of doubt, no Series 2017-1 Class A-2 Make-Whole Prepayment Premium will be due in connection with any principal payments on the Series 2017-1 Class A-1 Notes.
(e)    Series 2017-1 Class A-2 Make-Whole Prepayment Premium Payments.  In connection with any mandatory prepayment of any Series 2017-1 Class A-2 Notes made during a Rapid Amortization Period pursuant to Section 3.6(d)(i) or in connection with any Asset Disposition Proceeds pursuant to Section 3.6(j), or in connection with any optional prepayment of any Series 2017-1 Class A-2 Notes or a Tranche made pursuant to Section 3.6(f)(i) (each, a “Series 2017-1 Class A-2 Prepayment”), in each case prior to the applicable Series 2017-1 Anticipated Repayment Date, the Master Issuer shall pay, in the manner described herein, the Series 2017-1 Class A-2 Make-Whole Prepayment Premium to the Series 2017-1 Class A-2 Noteholders with respect to the principal portion of the applicable Series 2017-1 Prepayment Amount; provided that no such Series 2017-1 Class A-2 Make-Whole Prepayment Premium shall be payable in connection with (A) (i) with respect to the Series 2017‐1 Class A-2-I Notes, prepayments made on or after the Quarterly Payment Date in the 36th month prior to the Series 2017‐1 Anticipated Repayment Date, as applicable and (ii) with respect to the Series 2017‐1 Class A‐2‐II Notes, prepayments made on or after the Quarterly Payment Date in the 48th month prior to the Series 2017‐1 Anticipated Repayment Date, as applicable (the “Make-Whole End Date”), (B) any prepayment funded by Indemnification Amounts or Insurance/Condemnation Proceeds and (C) Quarterly Scheduled Principal Amounts (including those paid at the option of the Master Issuer when the Series 2017-1 Non-Amortization Test has been satisfied and any Optional Scheduled Principal Prepayment) or Quarterly Scheduled Principal Deficiency Amounts. 
(f)    Optional Prepayment of Series 2017-1 Class A-2 Notes.  
(i)    Subject to Section 3.6(e) and (g) of this Series Supplement, the Master Issuer shall have the option to prepay both or either of the Tranches in whole on any Business Day or in part on any Quarterly Payment Date or on any date a mandatory prepayment may be made and that is specified as the Series 2017-1 Prepayment Date in the applicable Prepayment Notices; provided that the Master Issuer shall not make any optional prepayment in part of any Tranche pursuant to this Section 3.6(f)(i) in a principal amount for any single prepayment of less than $5,000,000 on any Quarterly Payment Date (except that any such prepayment may be in a principal amount less than such amount if effected on the same day as any partial mandatory prepayment or repayment pursuant to this Series Supplement); provided, further, that no such optional prepayment may be made unless (i) the funds on deposit in the Senior Notes Principal Payment Account (including amounts to be transferred from the Cash Trap Reserve Account) that are allocable to the Tranches to be prepaid are sufficient to pay the principal amount of the Tranches to be prepaid and any Series 2017-1 Class A-2 Make-Whole Prepayment Premium required pursuant to Section 3.6(e), in each case, payable on the relevant Series 2017-1 Prepayment Date; (ii) the funds on deposit in the Senior Notes Interest Payment Account that are allocable to the Outstanding Principal Amount of the Tranches to be prepaid are sufficient to pay (A) the Class A-2 Quarterly Interest to but excluding the relevant Series 2017-1 Prepayment Date relating to the Outstanding Principal Amount of the Tranches to be prepaid (other than any Post-ARD Contingent Interest) and (B) only if such optional prepayment is a prepayment of the Series 2017-1 Class A-2 Notes in whole, (x) the Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest and (y) all Securitization Operating Expenses, to the extent attributable to the Series 2017-1 Class A-2 Notes or, in each case, such amounts have been deposited to the Series 2017-1 Class A-2 Distribution Account pursuant to Section 3.6(h)); and (iii) the Master Issuer shall reimburse the Trustee, the Servicer and the Manager, as applicable, for any unreimbursed Advances and Manager Advances (in each case, with interest thereon at the Advance Interest Rate).  The Master Issuer may prepay a Series of Notes in full at any time regardless of the number of prior optional prepayments or any minimum payment requirement.
(ii)    Subject to Section 3.6(g) of this Series Supplement, the Master Issuer shall have the option to prepay one or more future Quarterly Scheduled Principal Amounts with respect to both or either of the Tranches (each, an “Optional Scheduled Principal Prepayment”) in full on any Quarterly Payment Date (each, a “Scheduled Principal Prepayment Date”); provided that such Optional Scheduled Principal Prepayment is accompanied by the Series 2017-1 Class A-2 Scheduled Principal Prepayment Premium. 
(g)    Notices of Prepayments.  The Master Issuer shall give prior written notice (each, a “Prepayment Notice”) (i) at least fifteen (15) Business Days but not more than twenty (20) Business Days prior to any Series 2017-1 Prepayment Date and (ii) at least three (3) Business Days prior to any Scheduled Principal Prepayment Date with respect to the Series 2017-1 Class A-2 Notes pursuant to Section 3.6(f)(ii) of this Series Supplement, to each Series 2017-1 Noteholder affected by the applicable Series 2017-1 Prepayment or Optional Scheduled Principal Prepayment, each of the Rating Agencies, the Servicer, the Control Party and the Trustee; provided that at the request of the Master Issuer, such notice to the affected Series 2017-1 Noteholders shall be given by the Trustee in the name and at the expense of the Master Issuer.  In connection with any such Prepayment Notice, the Master Issuer shall provide a written report to the Trustee directing the Trustee to distribute such prepayment in accordance with the applicable provisions of Section 3.6(k) of this Series Supplement.  With respect to each such Series 2017-1 Prepayment or Optional Scheduled Principal Prepayment, the related Prepayment Notice shall, in each case, specify (A) the Series 2017-1 Prepayment Date or Scheduled Principal Prepayment Date on which such prepayment will be made, which in all cases shall be a Business Day, (B) the Series 2017-1 Prepayment Amount or amount of such Optional Scheduled Principal Prepayment and (C) the date on which the applicable Series 2017-1 Class A-2 Make-Whole Prepayment Premium, if any, or Series 2017-1 Class A-2 Scheduled Principal Prepayment Premium to be paid in connection therewith will be calculated, which calculation date shall be no earlier than the fifth Business Day before such Series 2017-1 Prepayment Date or Scheduled Principal Prepayment Date (the “Series 2017-1 Make-Whole Premium Calculation Date”).  The Master Issuer shall have the option, by written notice to the Trustee, the Servicer, the Control Party, the Rating Agencies and the affected Noteholders, to revoke, or amend the Series 2017-1 Prepayment Date or the Scheduled Principal Prepayment Date set forth in any Prepayment Notice relating to an optional prepayment at any time up to the second Business Day before the Series 2017-1 Prepayment Date or the Scheduled Principal Prepayment Date, as the case may be, set forth in such Prepayment Notice.  Any such optional prepayment and Prepayment Notice may, in the Master Issuer’s discretion, be subject to the satisfaction of one or more conditions precedent.  The Master Issuer shall have the option to provide in any Prepayment Notice that the payment of the amounts set forth in Section 3.6(f) and the performance of the Master Issuer’s obligations with respect to such optional prepayment may be performed by another Person.  All Prepayment Notices shall be (i) transmitted by email to (A) each affected Series 2017-1 Noteholder to the extent such Series 2017-1 Noteholder has provided an email address to the Trustee and (B) each of the Rating Agencies, the Servicer and the Trustee and (ii) sent by registered mail to each affected Series 2017-1 Noteholder.  For the avoidance of doubt, a Voluntary Decrease or a Subfacility Decrease in respect of the Series 2017-1 Class A-1 Notes is governed by Section 2.2 of this Series Supplement and not by this Section 3.6.  A Prepayment Notice may be revoked or amended by the Master Issuer if the Trustee receives written notice of such revocation or amendment no later than 12:00 p.m. (New York City time) two (2) Business Days prior to the applicable Series 2017-1 Prepayment Date or Scheduled Principal Prepayment Date.  The Master Issuer shall give written notice of such revocation or amendment to the Servicer, and at the request of the Master Issuer, the Trustee shall forward the notice of revocation or amendment to the Series 2017-1 Noteholders.  
(h)    Series 2017-1 Prepayments.  On each Series 2017-1 Prepayment Date with respect to any Series 2017-1 Prepayment, the Series 2017-1 Prepayment Amount and the Series 2017-1 Class A-2 Make-Whole Prepayment Premium, if any, and any associated Series 2017-1 Class A-1 Breakage Amounts applicable to such Series 2017-1 Prepayment shall be due and payable.  On each Scheduled Principal Prepayment Date with respect to each Optional Scheduled Principal Prepayment, the amount of such Optional Scheduled Principal Prepayment and the Series 2017-1 Class A-2 Scheduled Principal Prepayment Premium applicable to such Optional Scheduled Principal Prepayment amount shall be due and payable.  The Master Issuer shall pay the Series 2017-1 Prepayment Amount together with the applicable Series 2017-1 Class A-2 Make-Whole Prepayment Premium, if any, and any associated Series 2017-1 Class A-1 Breakage Amounts applicable to such Series 2017-1 Prepayment, or the amount of any Optional Scheduled Principal Prepayment and the applicable Series 2017-1 Class A-2 Scheduled Principal Prepayment Premium, by, to the extent not already deposited therein pursuant to Section 3.6(f) of this Series Supplement, depositing such amounts in the applicable Series 2017-1 Distribution Account on or prior to the related Series 2017-1 Prepayment Date or Scheduled Principal Prepayment Date, as applicable, to be distributed in accordance with Section 3.6(k) of this Series Supplement.
(i)    Prepayment Premium Not Payable.  For the avoidance of doubt, there is no Series 2017-1 Class A-2 Make-Whole Prepayment Premium payable as a result of (i) the application of Indemnification Amounts or Insurance/Condemnation Proceeds allocated to the Series 2017-1 Class A-2 Notes pursuant to clause (i) of the Priority of Payments, (ii) the payment of any Quarterly Scheduled Principal Amounts (including those paid at the election of the Master Issuer when the Series 2017-1 Non-Amortization Test has been satisfied) or Quarterly Scheduled Principal Deficiency Amounts (iii) any Optional Scheduled Principal Prepayment and (iv) any prepayment on or after the Make-Whole End Date.
(j)    Indemnification Amounts; Insurance/Condemnation Proceeds; Asset Disposition Proceeds.  Any Indemnification Amounts, Insurance/Condemnation Proceeds or Asset Disposition Proceeds allocated to the Senior Notes Principal Payment Account in accordance with Section 5.11(i) of the Base Indenture shall be withdrawn from the Senior Notes Principal Payment Account in accordance with Section 5.12(h) of the Base Indenture and any such funds allocable to the Series 2017-1 Notes shall be deposited in the applicable Series 2017-1 Distribution Accounts and used to prepay first, if a Series 2017-1 Class A-1 Notes Amortization Period is continuing, the Series 2017-1 Class A-1 Notes (in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement), second, the Series 2017-1 Class A-2 Notes (to be allocated between the Tranches in accordance with the Tranche Percentage) and third, provided that clause first does not apply, the Series 2017-1 Class A-1 Notes (in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement), on the Quarterly Payment Date immediately succeeding such deposit.  In connection with any prepayment made with Indemnification Amounts or Insurance/Condemnation Proceeds pursuant to this Section 3.6(j), the Master Issuer shall not be obligated to pay any prepayment premium.  The Master Issuer shall, however, be obligated to pay any applicable Series 2017-1 Class A-2 Make-Whole Prepayment Premium required to be paid pursuant to Section 3.6(e) of this Series Supplement in connection with any prepayment made with Asset Disposition Proceeds pursuant to this Section 3.6(j); provided, for avoidance of doubt, that it shall not constitute an Event of Default if any such Series 2017-1 Class A-2 Make-Whole Prepayment Premium is not paid because insufficient funds are available to pay such Series 2017-1 Class A-2 Make-Whole Prepayment Premium, in accordance with the Priority of Payments.
(k)    Series 2017-1 Prepayment Distributions.
(i)    On the Series 2017-1 Prepayment Date for each Series 2017-1 Prepayment to be made pursuant to this Section 3.6 in respect of the Series 2017-1 Class A-1 Notes, the Trustee shall, in accordance with Section 6.1 of the Base Indenture (except that notwithstanding anything to the contrary therein, references to the distributions being made on a Quarterly Payment Date shall be deemed to be references to distributions made on such Series 2017-1 Prepayment Date and references to the Record Date shall be deemed to be references to the Prepayment Record Date) and based solely upon the applicable written report provided to the Trustee pursuant to Section 3.6(g) of this Series Supplement, wire transfer to the Series 2017-1 Class A-1 Noteholders of record on the applicable Prepayment Record Date, in accordance with the order of distribution of principal payments set forth in Section 4.02 of the Series 2017-1 Class A-1 Note Purchase Agreement, the amount deposited in the Series 2017-1 Class A-1 Distribution Account pursuant to this Section 3.6, if any, in order to repay the applicable portion of the Series 2017-1 Class A-1 Outstanding Principal Amount and pay all accrued and unpaid interest thereon up to such Series 2017-1 Prepayment Date and any associated Series 2017-1 Class A-1 Breakage Amounts incurred as a result of such prepayment.
(ii)    On the Series 2017-1 Prepayment Date for each Series 2017-1 Prepayment or the Scheduled Principal Prepayment Date for each Optional Scheduled Principal Prepayment to be made pursuant to this Section 3.6 in respect of the Series 2017-1 Class A-2 Notes, the Trustee shall, in accordance with Section 6.1 of the Base Indenture (except that notwithstanding anything to the contrary therein, references to the distributions being made on a Quarterly Payment Date shall be deemed to be references to distributions made on such Series 2017-1 Prepayment Date and references to the Record Date shall be deemed to be references to the Prepayment Record Date) and based solely upon the applicable written report provided to the Trustee pursuant to Section 3.6(g) of this Series Supplement, wire transfer to the applicable Series 2017-1 Class A-2 Noteholders of record on the preceding Prepayment Record Date the amount deposited in the Series 2017-1 Class A-2 Distribution Account pursuant to this Section 3.6 with respect to such Series 2017-1 Prepayment, if any, in order to repay the applicable portion of the Series 2017-1 Class A-2 Outstanding Principal Amount and pay all accrued and unpaid interest thereon up to such Series 2017-1 Prepayment Date or Scheduled Principal Prepayment Date and any Series 2017-1 Class A-2 Make-Whole Prepayment Premium or Series 2017-1 Class A-2 Scheduled Principal Prepayment Premium due to Series 2017-1 Class A-2 Noteholders payable on such date. 
(l)    Series 2017-1 Notices of Final Payment.  The Master Issuer shall notify the Trustee, the Servicer and each of the Rating Agencies on or before the Prepayment Record Date preceding the Series 2017-1 Prepayment Date that will be the Series 2017-1 Final Payment Date; provided, however, that with respect to any Series 2017-1 Final Payment that is made in connection with any mandatory or optional prepayment in full, the Master Issuer shall not be obligated to provide any additional notice to the Trustee or the Rating Agencies of such Series 2017-1 Final Payment beyond the notice required to be given in connection with such prepayment pursuant to Section 3.6(g) of this Series Supplement.  The Trustee shall provide any written notice required under this Section 3.6(l) to each Person in whose name a Series 2017-1 Note is registered at the close of business on such Prepayment Record Date of the Series 2017-1 Prepayment Date that will be the Series 2017-1 Final Payment Date.  Such written notice to be sent to the Series 2017-1 Noteholders shall be made at the expense of the Master Issuer and shall be mailed by the Trustee within five (5) Business Days of receipt of notice from the Master Issuer indicating that the Series 2017-1 Final Payment will be made and shall specify that such Series 2017-1 Final Payment will be payable only upon presentation and surrender of the Series 2017-1 Notes and shall specify the place where the Series 2017-1 Notes may be presented and surrendered for such Series 2017-1 Final Payment.
(m)    Tranche Defeasance.  The Master Issuer, solely in connection with an optional prepayment in full, a mandatory prepayment in full or a redemption in full of a particular Tranche (the “Defeased Tranche”) as provided hereunder, may terminate all of its Obligations under the Indenture and all Obligations of the Guarantors under the Guarantee and Collateral Agreement in respect of such Tranche; provided that the conditions set forth under Section 12.1(c) (other than the conditions set forth under Section 12.1(c)(ii)) of the Base Indenture with respect to the Defeased Tranche have been satisfied; provided that no amounts in respect of the Class A-1 Notes or the other Tranche shall be required to be paid in accordance with Section 12.1(c)(i)(1) of the Base Indenture. 
Section 3.7    Series 2017-1 Class A-1 Distribution Account.
(a)    Establishment of Series 2017-1 Class A-1 Distribution Account.  The Master Issuer has established with the Trustee the Series 2017-1 Class A-1 Distribution Account in the name of the Trustee for the benefit of the Series 2017-1 Class A-1 Noteholders, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2017-1 Class A-1 Noteholders.  The Series 2017-1 Class A-1 Distribution Account shall be an Eligible Account.  Initially, the Series 2017-1 Class A-1 Distribution Account will be established with the Trustee.
(b)    Series 2017-1 Class A-1 Distribution Account Constitutes Additional Collateral for Series 2017-1 Class A-1 Notes.  In order to secure and provide for the repayment and payment of the Obligations with respect to the Series 2017-1 Class A-1 Notes, the Master Issuer hereby grants a security interest in and assigns, pledges, grants, transfers and sets over to the Trustee, for the benefit of the Series 2017-1 Class A-1 Noteholders, all of the Master Issuer’s rights, title and interests in and to the following (whether now or hereafter existing or acquired):  (i) the Series 2017-1 Class A-1 Distribution Account, including any security entitlement with respect thereto; (ii) all funds and other property (including, without limitation, Financial Assets) on deposit therein from time to time; (iii) all certificates and instruments, if any, representing or evidencing any or all of the Series 2017-1 Class A-1 Distribution Account or the funds on deposit therein from time to time; (iv) all interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for the Series 2017-1 Class A-1 Distribution Account or the funds on deposit therein from time to time; and (v) all proceeds of any and all of the foregoing, including, without limitation, cash (the items in the foregoing clauses (i) through (v) are referred to, collectively, as the “Series 2017-1 Class A-1 Distribution Account Collateral”).
(c)    Termination of Series 2017-1 Class A-1 Distribution Account.  On or after the date on which (1) all accrued and unpaid interest on and principal of all Outstanding Series 2017-1 Class A-1 Notes have been paid, (2) all Undrawn L/C Face Amounts have expired or have been cash collateralized in accordance with the terms of the Series 2017-1 Class A-1 Note Purchase Agreement (after giving effect to the provisions of Section 4.04 of the Series 2017-1 Class A-1 Note Purchase Agreement), (3) all fees and expenses and other amounts then due and payable under the Series 2017-1 Class A-1 Note Purchase Agreement have been paid and (4) all Series 2017-1 Class A-1 Commitments have been terminated in full, the Trustee, acting in accordance with the written instructions of the Master Issuer (or the Manager on its behalf), shall withdraw from the Series 2017-1 Class A-1 Distribution Account all amounts on deposit therein for distribution pursuant to the Priority of Payments.
Section 3.8    Series 2017-1 Class A-2 Distribution Account.
(a)    Establishment of Series 2017-1 Class A-2 Distribution Account.  The Master Issuer has established with the Trustee the Series 2017-1 Class A-2 Distribution Account in the name of the Trustee for the benefit of the Series 2017-1 Class A-2 Noteholders, bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Series 2017-1 Class A-2 Noteholders.  The Series 2017-1 Class A-2 Distribution Account shall be an Eligible Account.  Initially, the Series 2017-1 Class A-2 Distribution Account will be established with the Trustee.
(b)    Series 2017-1 Class A-2 Distribution Account Constitutes Additional Collateral for Series 2017-1 Class A-2 Notes.  In order to secure and provide for the repayment and payment of the Obligations with respect to the Series 2017-1 Class A-2 Notes, the Master Issuer hereby grant a security interest in and assign, pledge, grant, transfer and set over to the Trustee, for the benefit of the Series 2017-1 Class A-2 Noteholders, all of the Master Issuer’s right, title and interest in and to the following (whether now or hereafter existing or acquired):  (i) the Series 2017-1 Class A-2 Distribution Account, including any security entitlement with respect thereto; (ii) all funds and other property (including, without limitation, Financial Assets) on deposit therein from time to time; (iii) all certificates and instruments, if any, representing or evidencing any or all of the Series 2017-1 Class A-2 Distribution Account or the funds on deposit therein from time to time; (iv) all interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for the Series 2017-1 Class A-2 Distribution Account or the funds on deposit therein from time to time; and (v) all proceeds of any and all of the foregoing, including, without limitation, cash (the items in the foregoing clauses (i) through (v) are referred to, collectively, as the “Series 2017-1 Class A-2 Distribution Account Collateral”).
(c)    Termination of Series 2017-1 Class A-2 Distribution Account.  On or after the date on which all accrued and unpaid interest on and principal of all Outstanding Series 2017-1 Class A-2 Notes have been paid, the Trustee, acting in accordance with the written instructions of the Master Issuer (or the Manager on its behalf), shall withdraw from the Series 2017-1 Class A-2 Distribution Account all amounts on deposit therein for distribution pursuant to the Priority of Payments.
Section 3.9    Trustee as Securities Intermediary.
(a)    The Trustee or other Person holding the Series 2017-1 Distribution Accounts shall be the “Series 2017-1 Securities Intermediary”.  If the Series 2017-1 Securities Intermediary in respect of any Series 2017-1 Distribution Account is not the Trustee, the Master Issuer shall obtain the express agreement of such other Person to the obligations of the Series 2017-1 Securities Intermediary set forth in this Section 3.9.
(b)    The Series 2017-1 Securities Intermediary agrees that:
(i)    The Series 2017-1 Distribution Accounts are accounts to which Financial Assets will or may be credited;
(ii)    The Series 2017-1 Distribution Accounts are “securities accounts” within the meaning of Section 8-501 of the New York UCC and the Series 2017-1 Securities Intermediary qualifies as a “securities intermediary” under Section 8-102(a) of the New York UCC;
(iii)    All securities or other property (other than cash) underlying any Financial Assets credited to any Series 2017-1 Distribution Account shall be registered in the name of the Series 2017-1 Securities Intermediary, indorsed to the Series 2017-1 Securities Intermediary or in blank or credited to another securities account maintained in the name of the Series 2017-1 Securities Intermediary, and in no case will any Financial Asset credited to any Series 2017-1 Distribution Account be registered in the name of the Master Issuer, payable to the order of the Master Issuer or specially indorsed to the Master Issuer;
(iv)    All property delivered to the Series 2017-1 Securities Intermediary pursuant to this Series Supplement will be promptly credited to the appropriate Series 2017-1 Distribution Account;
(v)    Each item of property (whether investment property, security, instrument or cash) credited to any Series 2017-1 Distribution Account shall be treated as a Financial Asset;
(vi)    If at any time the Series 2017-1 Securities Intermediary shall receive any entitlement order from the Trustee (including those directing transfer or redemption of any Financial Asset) relating to the Series 2017-1 Distribution Accounts, the Series 2017-1 Securities Intermediary shall comply with such entitlement order without further consent by the Master Issuer, any other Securitization Entity or any other Person;
(vii)    The Series 2017-1 Distribution Accounts and all issues specified in Article 2(1) of the Hague Securities Convention shall be governed by the laws of the State of New York, regardless of any provision of any other agreement.  For purposes of all applicable UCCs, the State of New York shall be deemed to the Series 2017-1 Securities Intermediary’s jurisdiction and the Series 2017-1 Distribution Accounts (as well as the “security entitlements” (as defined in Section 8-102(a)(17) of the New York UCC) related thereto) shall be governed by the laws of the State of New York. The Securities Intermediary represents that it has an office in the United States which is engaged in a business or other regular activity of maintaining securities accounts;
(viii)    The Series 2017-1 Securities Intermediary has not entered into, and until termination of this Series Supplement will not enter into, any agreement with any other Person relating to the Series 2017-1 Distribution Accounts and/or any Financial Assets credited thereto pursuant to which it has agreed to comply with “entitlement orders” (as defined in Section 8-102(a)(8) of the New York UCC) of such other Person, and the Series 2017-1 Securities Intermediary has not entered into, and until the termination of this Series Supplement will not enter into, any agreement with the Master Issuer purporting to limit or condition the obligation of the Series 2017-1 Securities Intermediary to comply with entitlement orders as set forth in Section 3.9(b)(vi) of this Series Supplement; and
(ix)    Except for the claims and interest of the Trustee, the Secured Parties and the Securitization Entities in the Series 2017-1 Distribution Accounts, neither the Series 2017-1 Securities Intermediary nor, in the case of the Trustee, any Trust Officer knows of any claim to, or interest in, any Series 2017-1 Distribution Account or any Financial Asset credited thereto.  If the Series 2017-1 Securities Intermediary or, in the case of the Trustee, a Trust Officer has actual knowledge of the assertion by any other person of any Lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against any Series 2017-1 Distribution Account or any Financial Asset carried therein, the Series 2017-1 Securities Intermediary will promptly notify the Trustee, the Manager, the Servicer and the Master Issuer thereof.
(c)    At any time after the occurrence and during the continuation of an Event of Default, the Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Series 2017-1 Distribution Accounts and in all proceeds thereof, and shall (acting at the direction of the Control Party (at the direction of the Controlling Class Representative)) be the only Person authorized to originate entitlement orders in respect of the Series 2017-1 Distribution Accounts; provided, however, that at all other times the Master Issuer shall be authorized to instruct the Trustee to originate entitlement orders in respect of the Series 2017-1 Distribution Accounts.
Section 3.10    Manager.  Pursuant to the Management Agreement, the Manager has agreed to provide certain reports, notices, instructions and other services on behalf of the Master Issuer.  The Series 2017-1 Noteholders by their acceptance of the Series 2017-1 Notes consent to the provision of such reports and notices to the Trustee by the Manager in lieu of the Master Issuer.  Any such reports and notices that are required to be delivered to the Series 2017-1 Noteholders hereunder will be made available on the Trustee’s website in the manner set forth in Section 4.4 of the Base Indenture.
Section 3.11    Replacement of Ineligible Accounts.  If, at any time, either of the Series 2017-1 Class A-1 Distribution Account or the Series 2017-1 Class A-2 Distribution Account shall cease to be an Eligible Account (each, a “Series 2017-1 Ineligible Account”), the Master Issuer shall (i) within five (5) Business Days of obtaining knowledge thereof, notify the Control Party thereof and (ii) within ninety (90) days of obtaining actual knowledge thereof, (A) establish, or cause to be established, a new account that is an Eligible Account in substitution for such Series 2017-1 Ineligible Account, (B) following the establishment of such new Eligible Account, transfer or, with respect to the Trustee Accounts maintained at the Trustee, instruct the Trustee in writing to transfer all cash and investments from such Series 2017-1 Ineligible Account into such new Eligible Account and (C) pledge, or cause to be pledged, such new Eligible Account to the Trustee for the benefit of the Secured Parties and, if such new Eligible Account is not established with the Trustee, cause such new Eligible Account to be subject to an Account Control Agreement in form and substance reasonably acceptable to the Control Party and the Trustee.
Section 3.12    Interest Reserve Release Events.  On any Quarterly Calculation Date on which a Series 2017-1 Interest Reserve Release Event has occurred or is concurrently occurring, the Master Issuer (or the Manager on its behalf) may instruct the Trustee in writing to withdraw the Series 2017-1 Interest Reserve Release Amount, if any, from the Senior Notes Interest Reserve Account on the following Quarterly Payment Date and to deposit such amount into the Collection Account pursuant to Section 5.10(f)(vii) of the Base Indenture for distribution in accordance with the Priority of Payments.
ARTICLE IV     
 
FORM OF SERIES 2017-1 NOTES
Section 4.1    Issuance of Series 2017-1 Class A-1 Notes.  (a) The Series 2017-1 Class A-1 Advance Notes will be issued in the form of definitive notes in fully registered form without interest coupons, substantially in the form set forth in Exhibit A-1-1 hereto, and will be issued to the Series 2017-1 Class A-1 Noteholders (other than the Series 2017-1 Class A-1 Subfacility Noteholders) pursuant to and in accordance with the Series 2017-1 Class A-1 Note Purchase Agreement and shall be duly executed by the Master Issuer and authenticated by the Trustee in the manner set forth in Section 2.4 of the Base Indenture.  Other than in accordance with this Series Supplement and the Series 2017-1 Class A-1 Note Purchase Agreement, the Series 2017-1 Class A-1 Advance Notes will not be permitted to be transferred, assigned, exchanged or otherwise pledged or conveyed by such Series 2017-1 Class A-1 Noteholders.  The Series 2017-1 Class A-1 Advance Notes shall bear a face amount equal in the aggregate to up to the Series 2017-1 Class A-1 Notes Maximum Principal Amount as of the Series 2017-1 Closing Date, and shall be initially issued on the Series 2017-1 Closing Date in an aggregate outstanding principal amount equal to the Series 2017-1 Class A-1 Initial Advance Principal Amount pursuant to Section 2.1(a) of this Series Supplement.  The Trustee shall record any Increases or Decreases with respect to the Series 2017-1 Class A-1 Outstanding Principal Amount such that, subject to Section 4.1(d) of this Series Supplement, the principal amount of the Series 2017-1 Class A-1 Advance Notes that are Outstanding accurately reflects all such Increases and Decreases.  The Series 2017-1 Class A-1 Swingline Notes will be issued in the form of definitive notes in fully registered form without interest coupons, substantially in the form set forth in Exhibit A-1-2 hereto, and will be issued to the Swingline Lender pursuant to and in accordance with the Series 2017-1 Class A-1 Note Purchase Agreement and shall be duly executed by the Master Issuer and authenticated by the Trustee in the manner set forth in Section 2.4 of the Base Indenture.  Other than in accordance with this Series Supplement and the Series 2017-1 Class A-1 Note Purchase Agreement, the Series 2017-1 Class A-1 Swingline Notes will not be permitted to be transferred, assigned, exchanged or otherwise pledged or conveyed by the Swingline Lender.  The Series 2017-1 Class A-1 Swingline Note shall bear a face amount equal in the aggregate to up to the Swingline Commitment as of the Series 2017-1 Closing Date, and shall be initially issued in an aggregate outstanding principal amount equal to the Series 2017-1 Class A-1 Initial Swingline Principal Amount pursuant to Section 2.1(b)(i) of this Series Supplement.  The Trustee shall record any Subfacility Increases or Subfacility Decreases with respect to the Swingline Loans such that, subject to Section 4.1(d) of this Series Supplement, the aggregate principal amount of the Series 2017-1 Class A-1 Swingline Notes that is Outstanding accurately reflects all such Subfacility Increases and Subfacility Decreases.
(a)    The Series 2017-1 Class A-1 L/C Notes will be issued in the form of definitive notes in fully registered form without interest coupons, substantially in the form set forth in Exhibit A-1-3 hereto, and will be issued to the L/C Provider pursuant to and in accordance with the Series 2017-1 Class A-1 Note Purchase Agreement and shall be duly executed by the Master Issuer and authenticated by the Trustee in the manner set forth in Section 2.4 of the Base Indenture.  Other than in accordance with this Series Supplement and the Series 2017-1 Class A-1 Note Purchase Agreement, the Series 2017-1 Class A-1 L/C Notes will not be permitted to be transferred, assigned, exchanged or otherwise pledged or conveyed by the L/C Provider.  The Series 2017-1 Class A-1 L/C Notes shall bear a face amount equal in the aggregate to up to the L/C Commitment as of the Series 2017-1 Closing Date, and shall be initially issued in an aggregate amount equal to the Series 2017-1 Class A-1 Initial Aggregate Undrawn L/C Face Amount pursuant to Section 2.1(b)(ii) of this Series Supplement.  The Trustee shall record any Subfacility Increases or Subfacility Decreases with respect to Undrawn L/C Face Amounts or Unreimbursed L/C Drawings, as applicable, such that, subject to Section 4.1(d) of this Series Supplement, the aggregate amount of the Series 2017-1 Class A-1 L/C Notes that is Outstanding accurately reflects all such Subfacility Increases and Subfacility Decreases.  All Undrawn L/C Face Amounts shall be deemed to be “principal” outstanding under the Series 2017-1 Class A-1 L/C Note for all purposes of the Indenture and the other Related Documents other than for purposes of accrual of interest.
(b)    For the avoidance of doubt, notwithstanding that the aggregate face amount of the Series 2017-1 Class A-1 Notes will exceed the Series 2017-1 Class A-1 Notes Maximum Principal Amount, at no time will the principal amount actually outstanding of the Series 2017-1 Class A-1 Advance Notes, the Series 2017-1 Class A-1 Swingline Notes and the Series 2017-1 Class A-1 L/C Notes in the aggregate exceed the Series 2017-1 Class A-1 Notes Maximum Principal Amount.
(c)    The Series 2017-1 Class A-1 Notes may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the Authorized Officers executing such Series 2017-1 Class A-1 Notes, as evidenced by their execution of the Series 2017-1 Class A-1 Notes.  The Series 2017-1 Class A-1 Notes may be produced in any manner, all as determined by the Authorized Officers executing such Series 2017-1 Class A-1 Notes, as evidenced by their execution of such Series 2017-1 Class A-1 Notes.  The initial sale of the Series 2017-1 Class A-1 Notes is limited to Persons who have executed the Series 2017-1 Class A-1 Note Purchase Agreement.  The Series 2017-1 Class A-1 Notes may be resold only to the Master Issuer, its Affiliates, and Persons who are not Competitors (except that Series 2017-1 Class A-1 Notes may be resold to Persons who are Competitors with the written consent of the Master Issuer) in compliance with the terms of the Series 2017-1 Class A-1 Note Purchase Agreement.
Section 4.2    Issuance of Series 2017-1 Class A-2 Notes.  The Series 2017-1 Class A-2 Notes in the aggregate may be offered and sold in the Series 2017-1 Class A-2 Initial Principal Amount on the Series 2017-1 Closing Date by the Master Issuer pursuant to the Series 2017-1 Class A-2 Note Purchase Agreement.  The Series 2017-1 Class A-2 Notes will be resold initially only to the Master Issuer or its Affiliates or (A) in the United States to a Person that is not a Competitor and that is a QIB in a transaction meeting the requirements of on Rule 144A, (B) outside the United States, to a Person that is not a Competitor and that is not a U.S. person (as defined in Regulation S) (a “U.S. Person”) in a transaction meeting the requirements of Regulation S or (C) to a Person that is not a Competitor in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended, and the applicable securities laws of any state of the United States and any other jurisdiction, in each such case in accordance with the Base Indenture and any applicable securities laws of any state of the United States.  The Series 2017-1 Class A-2 Notes may thereafter be transferred in reliance on Rule 144A and/or Regulation S and in accordance with the procedure described herein.  The Series 2017-1 Class A-2 Notes will be Book-Entry Notes and DTC will be the Depository for the Series 2017-1 Class A-2 Notes.  The Applicable Procedures shall be applicable to transfers of beneficial interests in the Series 2017-1 Class A-2 Notes.  The Series 2017-1 Class A-2 Notes shall be issued in minimum denominations of $50,000 and integral multiples of $1,000 in excess thereof.
(a)    Rule 144A Global Notes.  The Series 2017-1 Class A-2 Notes offered and sold in their initial distribution in reliance upon Rule 144A will be issued in the form of one or more global notes in fully registered form, without coupons, substantially in the form set forth in Exhibit A-2-1 or Exhibit A-2-2 hereto, as applicable, registered in the name of Cede & Co. (“Cede”), as nominee of DTC, and deposited with the Trustee, as custodian for DTC (collectively, for purposes of this Section 4.2 and Section 4.4, the “Rule 144A Global Notes”).  The aggregate initial principal amount of the Rule 144A Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC, in connection with a corresponding decrease or increase in the aggregate initial principal amount of the corresponding class of Temporary Regulation S Global Notes or Permanent Regulation S Global Notes, as hereinafter provided.
(b)    Temporary Regulation S Global Notes and Permanent Regulation S Global Notes.  Any Series 2017-1 Class A-2 Notes offered and sold on the Series 2017-1 Closing Date in reliance upon Regulation S will be issued in the form of one or more global notes in fully registered form, without coupons, substantially in the form set forth in Exhibit A-2-3 or Exhibit A-2-4 hereto, as applicable, registered in the name of Cede, as nominee of DTC, and deposited with the Trustee, as custodian for DTC, for credit to the respective accounts at DTC of the designated agents holding on behalf of Euroclear or Clearstream.  Until such time as the Restricted Period shall have terminated with respect to any Series 2017-1 Class A-2 Note, such Series 2017-1 Class A-2 Notes shall be referred to herein collectively, for purposes of this Section 4.2 and Section 4.4, as the “Temporary Regulation S Global Notes”.  After such time as the Restricted Period shall have terminated, the Temporary Regulation S Global Notes shall be exchangeable, in whole or in part, for interests in one or more permanent global notes in registered form without interest coupons, substantially in the form set forth in Exhibit A-2-5 or Exhibit A-2-6 hereto, as applicable, as hereinafter provided (collectively, for purposes of this Section 4.2 and Section 4.4, the “Permanent Regulation S Global Notes”).  The aggregate principal amount of the Temporary Regulation S Global Notes or the Permanent Regulation S Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for DTC, in connection with a corresponding decrease or increase of aggregate principal amount of the corresponding Rule 144A Global Notes, as hereinafter provided.
(c)    Definitive Notes.  The Series 2017-1 Global Notes shall be exchangeable in their entirety for one or more definitive notes in registered form, without interest coupons (collectively, for purposes of this Section 4.2 and Section 4.4 of this Series Supplement, the “Definitive Notes”) pursuant to Section 2.13 of the Base Indenture and this Section 4.2(c) in accordance with their terms and, upon complete exchange thereof, such Series 2017-1 Global Notes shall be surrendered for cancellation at the applicable Corporate Trust Office.
Section 4.3    Transfer Restrictions of Series 2017-1 Class A-1 Notes.
(a)    Subject to the terms of the Indenture and the Series 2017-1 Class A-1 Note Purchase Agreement, the holder of any Series 2017-1 Class A-1 Advance Note may transfer the same in whole or in part, in an amount equivalent to an authorized denomination, by surrendering such Series 2017-1 Class A-1 Advance Note at the applicable Corporate Trust Office, with the form of transfer endorsed on it duly completed and executed by, or accompanied by a written instrument of transfer in form satisfactory to the Master Issuer and the Registrar by, the holder thereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, and accompanied by a certificate substantially in the form of Exhibit B-1 hereto; provided that if the holder of any Series 2017-1 Class A-1 Advance Note transfers, in whole or in part, its interest in any Series 2017-1 Class A-1 Advance Note pursuant to (i) an Assignment and Assumption Agreement substantially in the form of Exhibit B to the Series 2017-1 Class A-1 Note Purchase Agreement or (ii) an Investor Group Supplement substantially in the form of Exhibit C to the Series 2017-1 Class A-1 Note Purchase Agreement, then such Series 2017-1 Class A-1 Noteholder will not be required to submit a certificate substantially in the form of Exhibit B-1 hereto upon transfer of its interest in such Series 2017-1 Class A-1 Advance Note.  In exchange for any Series 2017-1 Class A-1 Advance Note properly presented for transfer, the Master Issuer shall execute and the Trustee shall promptly authenticate and deliver or cause to be authenticated and delivered in compliance with applicable law, to the transferee at such office, or send by mail (at the risk of the transferee) to such address as the transferee may request, Series 2017-1 Class A-1 Advance Notes for the same aggregate principal amount as was transferred.  In the case of the transfer of any Series 2017-1 Class A-1 Advance Note in part, the Master Issuer shall execute and the Trustee shall promptly authenticate and deliver or cause to be authenticated and delivered to the transferor at such office, or send by mail (at the risk of the transferor) to such address as the transferor may request, Series 2017-1 Class A-1 Notes for the aggregate principal amount that was not transferred.  No transfer of any Series 2017-1 Class A-1 Advance Note shall be made unless the request for such transfer is made by the Series 2017-1 Class A-1 Noteholder at such office.  Neither the Master Issuer nor the Trustee shall be liable for any delay in delivery of transfer instructions and each may conclusively rely on, and shall be protected in relying on, such instructions.  Upon the issuance of transferred Series 2017-1 Class A-1 Advance Notes, the Trustee shall recognize the holders of such Series 2017-1 Class A-1 Advance Note as Series 2017-1 Class A-1 Noteholders.
(b)    Subject to the terms of the Indenture and the Series 2017-1 Class A-1 Note Purchase Agreement, the Swingline Lender may transfer the Series 2017-1 Class A-1 Swingline Notes in whole but not in part by surrendering such Series 2017-1 Class A-1 Swingline Notes at the applicable Corporate Trust Office, with the form of transfer endorsed on it duly completed and executed by, or accompanied by a written instrument of transfer in form satisfactory to the Master Issuer and the Registrar by, the holder thereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the STAMP or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, and accompanied by an assignment agreement pursuant to Section 9.17(d) of the Series 2017-1 Class A-1 Note Purchase Agreement.  In exchange for any Series 2017-1 Class A-1 Swingline Note properly presented for transfer, the Master Issuer shall execute and the Trustee shall promptly authenticate and deliver or cause to be authenticated and delivered in compliance with applicable law, to the transferee at such office, or send by mail (at the risk of the transferee) to such address as the transferee may request, a Series 2017-1 Class A-1 Swingline Note for the same aggregate principal amount as was transferred.  No transfer of any Series 2017-1 Class A-1 Swingline Note shall be made unless the request for such transfer is made by the Swingline Lender at such office.  Neither the Master Issuer nor the Trustee shall be liable for any delay in delivery of transfer instructions and each may conclusively rely on, and shall be protected in relying on, such instructions.  Upon the issuance of any transferred Series 2017-1 Class A-1 Swingline Note, the Trustee shall recognize the holder of such Series 2017-1 Class A-1 Swingline Note as a Series 2017-1 Class A-1 Noteholder.
(c)    Subject to the terms of the Indenture and the Series 2017-1 Class A-1 Note Purchase Agreement, the L/C Provider may transfer any Series 2017-1 Class A-1 L/C Note in whole or in part, in an amount equivalent to an authorized denomination, by surrendering such Series 2017-1 Class A-1 L/C Note at the applicable Corporate Trust Office, with the form of transfer endorsed on it duly completed and executed by, or accompanied by a written instrument of transfer in form satisfactory to the Master Issuer and the Registrar by, the holder thereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the STAMP or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, and accompanied by an assignment agreement pursuant to Section 9.17(e) of the Series 2017-1 Class A-1 Note Purchase Agreement.  In exchange for any Series 2017-1 Class A-1 L/C Note properly presented for transfer, the Master Issuer shall execute and the Trustee shall promptly authenticate and deliver or cause to be authenticated and delivered in compliance with applicable law, to the transferee at such office, or send by mail (at the risk of the transferee) to such address as the transferee may request, Series 2017-1 Class A-1 L/C Notes for the same aggregate principal amount as was transferred.  In the case of the transfer of any Series 2017-1 Class A-1 L/C Note in part, the Master Issuer shall execute and the Trustee shall promptly authenticate and deliver or cause to be authenticated and delivered to the transferor at such office, or send by mail (at the risk of transferor) to such address as the transferor may request, Series 2017-1 Class A-1 L/C Notes for the aggregate principal amount that was not transferred.  No transfer of any Series 2017-1 Class A-1 L/C Note shall be made unless the request for such transfer is made by the L/C Provider at such office.  Neither the Master Issuer nor the Trustee shall be liable for any delay in delivery of transfer instructions and each may conclusively rely on, and shall be protected in relying on, such instructions.  Upon the issuance of any transferred Series 2017-1 Class A-1 L/C Note, the Trustee shall recognize the holder of such Series 2017-1 Class A-1 L/C Note as a Series 2017-1 Class A-1 Noteholder.
(d)    Each Series 2017-1 Class A-1 Note shall bear the following legend:
THE ISSUANCE AND SALE OF THIS SERIES 2017-1 VARIABLE FUNDING SENIOR NOTE, CLASS A-1 (“THIS NOTE”) HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER RELEVANT JURISDICTION, AND THE MASTER ISSUER HAS NOT BEEN REGISTERED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”).  THIS NOTE AND ANY INTEREST HEREIN MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY TO PERSONS WHO ARE NOT COMPETITORS (AS DEFINED IN THE INDENTURE), UNLESS THE MASTER ISSUER GIVES WRITTEN CONSENT TO SUCH OFFER, SALE, PLEDGE OR OTHER TRANSFER, AND IN ACCORDANCE WITH THE PROVISIONS OF THE CLASS A-1 NOTE PURCHASE AGREEMENT, DATED AS OF OCTOBER 23, 2017 BY AND AMONG THE MASTER ISSUER, DUNKIN’ BRANDS, INC., AS THE MANAGER, THE GUARANTORS, THE CONDUIT INVESTORS, THE COMMITTED NOTE PURCHASERS, THE FUNDING AGENTS AND COÖPERATIEVE RABOBANK, U.A., NEW YORK BRANCH, AS L/C PROVIDER, SWINGLINE LENDER AND ADMINISTRATIVE AGENT.
The required legend set forth above shall not be removed from the Series 2017-1 Class A-1 Notes except as provided herein.
Section 4.4    Transfer Restrictions of Series 2017-1 Class A-2 Notes.
(a)    A Series 2017-1 Global Note may not be transferred, in whole or in part, to any Person other than DTC or a nominee thereof, or to a successor Depository or to a nominee of a successor Depository, and no such transfer to any such other Person may be registered; provided, however, that this Section 4.4(a) shall not prohibit any transfer of a Series 2017-1 Class A-2 Note that is issued in exchange for a Series 2017-1 Global Note in accordance with Section 2.8 of the Base Indenture and shall not prohibit any transfer of a beneficial interest in a Series 2017-1 Global Note effected in accordance with the other provisions of this Section 4.4.
(b)    The transfer by a Series 2017-1 Note Owner holding a beneficial interest in a Series 2017-1 Class A-2 Note in the form of a Rule 144A Global Note to a Person who wishes to take delivery thereof in the form of a beneficial interest in the Rule 144A Global Note shall be made upon the deemed representation of the transferee that it is purchasing for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a QIB and not a Competitor, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Master Issuer as such transferee has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A.
(c)    If a Series 2017-1 Note Owner holding a beneficial interest in a Series 2017-1 Class A-2 Note in the form of a Rule 144A Global Note wishes at any time to exchange its interest in such Rule 144A Global Note for an interest in the Temporary Regulation S Global Note, or to transfer such interest to a Person who wishes to take delivery thereof in the form of a beneficial interest in the Temporary Regulation S Global Note, such exchange or transfer may be effected, subject to the Applicable Procedures, only in accordance with the provisions of this Section 4.4(c).  Upon receipt by the Registrar, at the applicable Corporate Trust Office, of (i) written instructions given in accordance with the Applicable Procedures from a Clearing Agency Participant directing the Registrar to credit or cause to be credited to a specified Clearing Agency Participant’s account a beneficial interest in the Temporary Regulation S Global Note, in a principal amount equal to that of the beneficial interest in such Rule 144A Global Note to be so exchanged or transferred, (ii) a written order given in accordance with the Applicable Procedures containing information regarding the account of the Clearing Agency Participant (and the Euroclear or Clearstream account, as the case may be) to be credited with, and the account of the Clearing Agency Participant to be debited for, such beneficial interest and (iii) a certificate in substantially the form set forth in Exhibit B-2 hereto given by the Series 2017-1 Series 2017-1 Note Owner holding such beneficial interest in such Rule 144A Global Note, the Registrar shall instruct the Trustee, as custodian of DTC, to reduce the principal amount of the Rule 144A Global Note, and to increase the principal amount of the Temporary Regulation S Global Note, by the principal amount of the beneficial interest in such Rule 144A Global Note to be so exchanged or transferred, and to credit or cause to be credited to the account of the Person specified in such instructions (which shall be the Clearing Agency Participant for Euroclear or Clearstream or both, as the case may be) a beneficial interest in the Temporary Regulation S Global Note having a principal amount equal to the amount by which the principal amount of such Rule 144A Global Note was reduced upon such exchange or transfer.
(d)    If a Series 2017-1 Note Owner holding a beneficial interest in a Rule 144A Global Note wishes at any time to exchange its interest in such Rule 144A Global Note for an interest in the Permanent Regulation S Global Note, or to transfer such interest to a Person who wishes to take delivery thereof in the form of a beneficial interest in the Permanent Regulation S Global Note, such exchange or transfer may be effected, subject to the Applicable Procedures, only in accordance with the provisions of this Section 4.4(d).  Upon receipt by the Registrar, at the applicable Corporate Trust Office, of (i) written instructions given in accordance with the Applicable Procedures from a Clearing Agency Participant directing the Registrar to credit or cause to be credited to a specified Clearing Agency Participant’s account a beneficial interest in the Permanent Regulation S Global Note in a principal amount equal to that of the beneficial interest in such Rule 144A Global Note to be so exchanged or transferred, (ii) a written order given in accordance with the Applicable Procedures containing information regarding the account of the Clearing Agency Participant (and the Euroclear or Clearstream account, as the case may be) to be credited with, and the account of the Clearing Agency Participant to be debited for, such beneficial interest and (iii) a certificate in substantially the form of Exhibit B-3 hereto given by the Series 2017-1 Note Owner holding such beneficial interest in such Rule 144A Global Note, the Registrar shall instruct the Trustee, as custodian of DTC, to reduce the principal amount of such Rule 144A Global Note, and to increase the principal amount of the Permanent Regulation S Global Note, by the principal amount of the beneficial interest in such Rule 144A Global Note to be so exchanged or transferred, and to credit or cause to be credited to the account of the Person specified in such instructions (which shall be the Clearing Agency Participant for Euroclear or Clearstream or both, as the case may be) a beneficial interest in the Permanent Regulation S Global Note having a principal amount equal to the amount by which the principal amount of such Rule 144A Global Note was reduced upon such exchange or transfer.
(e)    If a Series 2017-1 Note Owner holding a beneficial interest in a Temporary Regulation S Global Note or a Permanent Regulation S Global Note wishes at any time to exchange its interest in such Temporary Regulation S Global Note or such Permanent Regulation S Global Note for an interest in the Rule 144A Global Note, or to transfer such interest to a Person who wishes to take delivery thereof in the form of a beneficial interest in the Rule 144A Global Note, such exchange or transfer may be effected, subject to the Applicable Procedures, only in accordance with the provisions of this Section 4.4(e).  Upon receipt by the Registrar, at the applicable Corporate Trust Office, of (i) written instructions given in accordance with the Applicable Procedures from a Clearing Agency Participant directing the Registrar to credit or cause to be credited to a specified Clearing Agency Participant’s account a beneficial interest in the Rule 144A Global Note in a principal amount equal to that of the beneficial interest in such Temporary Regulation S Global Note or such Permanent Regulation S Global Note, as the case may be, to be so exchanged or transferred, (ii) a written order given in accordance with the Applicable Procedures containing information regarding the account of the Clearing Agency Participant (and the Euroclear or Clearstream account, as the case may be) to be credited with, and the account of the Clearing Agency Participant to be debited for, such beneficial interest and (iii) with respect to a transfer of a beneficial interest in such Temporary Regulation S Global Note (but not such Permanent Regulation S Global Note), a certificate in substantially the form set forth in Exhibit B-4 hereto given by such Series 2017-1 Note Owner holding such beneficial interest in such Temporary Regulation S Global Note, the Registrar shall instruct the Trustee, as custodian of DTC, to reduce the principal amount of such Temporary Regulation S Global Note or such Permanent Regulation S Global Note, as the case may be, and to increase the principal amount of the Rule 144A Global Note, by the principal amount of the beneficial interest in such Temporary Regulation S Global Note or such Permanent Regulation S Global Note to be so exchanged or transferred, and to credit or cause to be credited to the account of the Person specified in such instructions (which shall be the Clearing Agency Participant for DTC) a beneficial interest in the Rule 144A Global Note having a principal amount equal to the amount by which the principal amount of such Temporary Regulation S Global Note or such Permanent Regulation S Global Note, as the case may be, was reduced upon such exchange or transfer.
(f)    In the event that a Series 2017-1 Global Note or any portion thereof is exchanged for Series 2017-1 Class A-2 Notes other than Series 2017-1 Global Notes, such other Series 2017-1 Class A-2 Notes may in turn be exchanged (upon transfer or otherwise) for Series 2017-1 Class A-2 Notes that are not Series 2017-1 Global Notes or for a beneficial interest in a Series 2017-1 Global Note (if any is then outstanding) only in accordance with such procedures as may be adopted from time to time by the Master Issuer and the Registrar, which shall be substantially consistent with the provisions of Section 4.4(a) through Section 4.4(e) and Section 4.4(g) of this Series Supplement (including the certification requirement intended to ensure that transfers and exchanges of beneficial interests in a Series 2017-1 Global Note comply with Rule 144A or Regulation S under the Securities Act, as the case may be) and any Applicable Procedures.
(g)    Until the termination of the Restricted Period with respect to any Series 2017-1 Class A-2 Note, interests in the Temporary Regulation S Global Notes representing such Series 2017-1 Class A-2 Note may be held only through Clearing Agency Participants acting for and on behalf of Euroclear and Clearstream; provided that this Section 4.4(g) shall not prohibit any transfer in accordance with Section 4.4(d) of this Series Supplement.  After the expiration of the applicable Restricted Period, interests in the Permanent Regulation S Global Notes may be transferred without requiring any certifications other than those set forth in this Section 4.4.
(h)    The Rule 144A Global Notes, the Temporary Regulation S Global Notes and the Permanent Regulation S Global Notes shall bear the following legend:
THE ISSUANCE AND SALE OF THIS SERIES 2017-1 CLASS A-2 NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER RELEVANT JURISDICTION, AND DB MASTER FINANCE LLC (THE “MASTER ISSUER”) HAS NOT BEEN REGISTERED UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “1940 ACT”).  THIS NOTE OR ANY INTEREST HEREIN MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE MASTER ISSUER OR AN AFFILIATE THEREOF, (B) IN THE UNITED STATES, TO EITHER AN INITIAL PURCHASER OR A SUBSEQUENT TRANSFEREE WHO IS NOT A COMPETITOR AND IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE 1933 ACT (“RULE 144A”), ACTING FOR ITS OWN ACCOUNT OR ONE OR MORE ACCOUNTS WITH RESPECT TO WHICH SUCH INITIAL PURCHASER OR SUBSEQUENT TRANSFEREE EXERCISES SOLE INVESTMENT DISCRETION OR (C) OUTSIDE THE UNITED STATES, TO AN INITIAL PURCHASER OR A SUBSEQUENT TRANSFEREE WHO IS NEITHER A COMPETITOR NOR A “U.S. PERSON” AS DEFINED IN REGULATION S UNDER THE 1933 ACT (“REGULATION S”), ACTING FOR ITS OWN ACCOUNT OR ONE OR MORE ACCOUNTS WITH RESPECT TO WHICH SUCH INITIAL PURCHASER OR SUBSEQUENT TRANSFEREE EXERCISES SOLE INVESTMENT DISCRETION, NONE OF WHICH ARE A U.S. PERSON, IN OFFSHORE TRANSACTIONS IN RELIANCE ON REGULATION S, AND, IN EACH CASE, IN COMPLIANCE WITH THE CERTIFICATIONS AND OTHER REQUIREMENTS SPECIFIED IN THE INDENTURE REFERRED TO HEREIN AND ANY APPLICABLE SECURITIES LAWS OF ANY STATE OR THE UNITED STATES AND ANY OTHER RELEVANT JURISDICTION.
BY ITS ACQUISITION OR ACCEPTANCE HEREOF, THE HOLDER (IF NOT THE MASTER ISSUER OR AN AFFILIATE OF THE MASTER ISSUER) REPRESENTS THAT (A) IT IS NOT A COMPETITOR AND IS (X) A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A OR (Y) IS NOT A U.S. PERSON AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION, AS APPLICABLE, (B) IT IS ACTING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER PERSON WHICH IS NOT A COMPETITOR AND IS EITHER (X) A QUALIFIED INSTITUTIONAL BUYER OR (Y) NOT A U.S. PERSON, AS APPLICABLE, AND IN EACH CASE WITH RESPECT TO WHICH IT EXERCISES SOLE INVESTMENT DISCRETION, (C) IT AND EACH ACCOUNT FOR WHICH IT IS PURCHASING WILL HOLD AND TRANSFER AT LEAST THE MINIMUM DENOMINATION OF NOTES, (D) IT UNDERSTANDS THAT THE MASTER ISSUER MAY RECEIVE A LIST OF PARTICIPANTS HOLDING POSITIONS IN ITS NOTES FROM ONE OR MORE BOOK-ENTRY DEPOSITORIES AND (E) IT WILL PROVIDE NOTICE OF THE TRANSFER RESTRICTIONS TO ANY SUBSEQUENT TRANSFEREES.
THE INITIAL PURCHASERS AND EACH SUBSEQUENT TRANSFEREE (IF NOT THE MASTER ISSUER OR AN AFFILIATE OF THE MASTER ISSUER) TAKING DELIVERY OF THIS NOTE OR AN INTEREST IN THIS NOTE WILL BE DEEMED TO HAVE MADE THE APPLICABLE REPRESENTATIONS AND AGREEMENTS REFERRED TO IN THE INDENTURE.  THE INITIAL PURCHASERS AND EACH SUBSEQUENT TRANSFEREE TAKING DELIVERY OF THIS NOTE OR AN INTEREST IN THIS NOTE IN THE FORM OF AN INTEREST IN A [TEMPORARY REGULATION S GLOBAL NOTE] [RULE 144A GLOBAL NOTE] OR [PERMANENT REGULATION S GLOBAL NOTE] WILL BE REQUIRED TO DELIVER A TRANSFER CERTIFICATE IN THE FORM REQUIRED BY THE INDENTURE AND WILL BE REQUIRED TO MAKE THE APPLICABLE REPRESENTATIONS AND AGREEMENTS REFERRED TO IN THE INDENTURE.
ANY TRANSFER OF THIS NOTE IN VIOLATION OF THE FOREGOING WILL BE OF NO FORCE AND EFFECT AND WILL BE VOID AB INITIO AND WILL NOT OPERATE TO TRANSFER ANY RIGHTS TO THE INITIAL PURCHASERS OR SUBSEQUENT TRANSFEREE, NOTWITHSTANDING ANY INSTRUCTIONS TO THE CONTRARY TO THE MASTER ISSUER, THE TRUSTEE OR ANY INTERMEDIARY.
IF THIS NOTE WAS ACQUIRED IN THE UNITED STATES, AND THE HOLDER IS DETERMINED TO BE A COMPETITOR OR NOT TO HAVE BEEN A QUALIFIED INSTITUTIONAL BUYER AT THE TIME OF ACQUISITION OF THIS NOTE, THE MASTER ISSUER HAS THE RIGHT TO REQUIRE SUCH HOLDER TO SELL THIS NOTE TO A PURCHASER WHO IS NOT A COMPETITOR AND IS A QUALIFIED INSTITUTIONAL BUYER.  THE MASTER ISSUER ALSO HAS THE RIGHT TO REFUSE TO HONOR A TRANSFER TO A PERSON TAKING DELIVERY IN THE FORM OF AN INTEREST IN A RULE 144A GLOBAL NOTE WHO IS NOT A QUALIFIED INSTITUTIONAL BUYER OR WHO IS A COMPETITOR.
IF THIS NOTE WAS ACQUIRED OUTSIDE THE UNITED STATES, AND THE HOLDER IS DETERMINED TO BE A COMPETITOR OR A “U.S. PERSON” AT THE TIME OF ACQUISITION OF THIS NOTE, THE MASTER ISSUER HAS THE RIGHT TO REQUIRE SUCH HOLDER TO SELL THIS NOTE TO A PURCHASER WHO IS NOT A COMPETITOR AND NOT A “U.S. PERSON”.  THE MASTER ISSUER ALSO HAS THE RIGHT TO REFUSE TO HONOR A TRANSFER TO A PERSON TAKING DELIVERY IN THE FORM OF AN INTEREST IN A REGULATION S GLOBAL NOTE WHO IS A “U.S. PERSON” OR WHO IS A COMPETITOR.
(i)    The Series 2017-1 Class A-2 Notes Temporary Regulation S Global Notes shall also bear the following legend:
UNTIL 40 DAYS AFTER THE ORIGINAL ISSUE DATE OF THE NOTES (THE “RESTRICTED PERIOD”) IN CONNECTION WITH THE OFFERING OF THE NOTES IN THE UNITED STATES FROM OUTSIDE OF THE UNITED STATES, THE SALE, PLEDGE OR TRANSFER OF THIS NOTE IS SUBJECT TO CERTAIN CONDITIONS AND RESTRICTIONS.  THE HOLDER HEREOF, BY PURCHASING OR OTHERWISE ACQUIRING THIS NOTE, ACKNOWLEDGES THAT SUCH HOLDER IS NOT A COMPETITOR, IS THE MASTER ISSUER OR IS AN AFFILIATE OF THE MASTER ISSUER, AND THAT THIS NOTE HAS NOT BEEN REGISTERED UNDER THE 1933 ACT AND AGREES FOR THE BENEFIT OF THE MASTER ISSUER THAT THIS NOTE MAY BE TRANSFERRED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY TO A PERSON THAT IS NOT A COMPETITOR, IS THE MASTER ISSUER OR IS AN AFFILIATE OF THE MASTER ISSUER AND IN COMPLIANCE WITH THE 1933 ACT AND OTHER APPLICABLE LAWS OF THE STATES, TERRITORIES AND POSSESSIONS OF THE UNITED STATES GOVERNING THE OFFER AND SALE OF SECURITIES, AND PRIOR TO THE EXPIRATION OF THE RESTRICTED PERIOD, ONLY (I) IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE 1933 ACT OR (II) PURSUANT TO AND IN ACCORDANCE WITH RULE 144A UNDER THE 1933 ACT.
(j)    The Series 2017-1 Global Notes issued in connection with the Series 2017-1 Class A-2 Notes shall bear the following legend:
THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY (“DTC”), A NEW YORK CORPORATION, 55 WATER STREET, NEW YORK, NY 10004, OR A NOMINEE THEREOF.  THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN DTC OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.  UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE MASTER ISSUER OR THE NOTE REGISTRAR, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.  OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER, CEDE & CO., HAS AN INTEREST HEREIN.
(k)    The required legends set forth above shall not be removed from the applicable Series 2017-1 Class A-2 Notes except as provided herein.  The legend required for a Rule 144A Global Note may be removed from such Rule 144A Global Note if there is delivered to the Master Issuer and the Registrar such satisfactory evidence, which may include an Opinion of Counsel, as may be reasonably required by the Master Issuer that neither such legend nor the restrictions on transfer set forth therein are required to ensure that transfers of such Rule 144A Global Note will not violate the registration requirements of the Securities Act.  Upon provision of such satisfactory evidence, the Trustee at the direction of the Master Issuer (or the Manager on its behalf), shall authenticate and deliver in exchange for such Rule 144A Global Note a Series 2017-1 Class A-2 Note or Series 2017-1 Class A-2 Notes having an equal aggregate principal amount that does not bear such legend.  If such a legend required for a Rule 144A Global Note has been removed from a Series 2017-1 Class A-2 Note as provided above, no other Series 2017-1 Class A-2 Note issued in exchange for all or any part of such Series 2017-1 Class A-2 Note shall bear such legend, unless the Master Issuer has reasonable cause to believe that such other Series 2017-1 Class A-2 Note is a “restricted security” within the meaning of Rule 144 under the Securities Act and instructs the Trustee to cause a legend to appear thereon.
Section 4.5    [Reserved].
Section 4.6    Note Owner Representations and Warranties.  Each Person who becomes a Note Owner of a beneficial interest in a Series 2017-1 Note pursuant to the Offering Memorandum will be deemed to represent, warrant and agree on the date such Person acquires any interest in any Series 2017-1 Note as follows:
(a)    With respect to any sale of Series 2017-1 Notes pursuant to Rule 144A, it is a QIB pursuant to Rule 144A, and is aware that any sale of Series 2017-1 Notes to it will be made in reliance on Rule 144A.  Its acquisition of Series 2017-1 Notes in any such sale will be for its own account or for the account of another QIB.
(b)    With respect to any sale of Series 2017-1 Notes pursuant to Regulation S, at the time the buy order for such Series 2017-1 Notes was originated, it was outside the United States to a Person that is not a U.S. Person, and was not purchasing for the account or benefit of a U.S. Person.
(c)    It has not been formed for the purpose of investing in the Series 2017-1 Notes, except where each beneficial owner is a QIB (for Series 2017-1 Notes acquired in the United States) or is not a U.S. Person (for Series 2017-1 Notes acquired outside the United States).
(d)    It will, and each account for which it is purchasing will, hold and transfer at least the minimum denomination of Series 2017-1 Notes.
(e)    It understands that the Master Issuer, the Manager and the Servicer may receive a list of participants holding positions in the Series 2017-1 Notes from one or more book-entry depositories.
(f)    It understands that the Manager, the Master Issuer and the Servicer may receive (i) a list of Note Owners that have requested access to the Trustee’s password-protected website or that have voluntarily registered as a Note Owner with the Trustee and (ii) copies of Noteholder confirmations of representations and warranties executed to obtain access to the Trustee’s password-protected website.
(g)    It will provide to each person to whom it transfers Series 2017-1 Notes notices of any restrictions on transfer of such Series 2017-1 Notes.
(h)    It understands that (i) the Series 2017-1 Notes are being offered in a transaction not involving any public offering in the United States within the meaning of the Securities Act, (ii) the Series 2017-1 Notes have not been registered under the Securities Act, (iii) such Series 2017-1 Notes may be offered, resold, pledged or otherwise transferred only (A) to the Master Issuer or an Affiliate of the Master Issuer, (B) in the United States to a Person who the seller reasonably believes is a QIB in a transaction meeting the requirements of Rule 144A and that is not a Competitor, (C) outside the United States to a Person that is not a U.S. Person in a transaction meeting the requirements of Regulation S and that is not a Competitor or (D) to a Person that is not a Competitor in a transaction exempt from the registration requirements of the Securities Act and the applicable securities laws of any state of the United States and any other jurisdiction, in each such case in accordance with the Indenture and any applicable securities laws of any state of the United States and (iv) it will, and each subsequent holder of a Series 2017-1 Note is required to, notify any subsequent purchaser of a Series 2017-1 Note of the resale restrictions set forth in clause (iii) above.  
(i)    It understands that the certificates evidencing the Rule 144A Global Notes will bear legends substantially similar to those set forth in Section 4.4(h) of this Series Supplement.
(j)    It understands that the certificates evidencing the Temporary Regulation S Global Notes will bear legends substantially similar to those set forth in Section 4.4(i) of this Series Supplement.
(k)    It understands that the certificates evidencing the Permanent Regulation S Global Notes will bear legends substantially similar to those set forth in Section 4.4(j) of this Series Supplement.
(l)    In the case of an investment in the Series 2017-1 Class A-2 Notes, either (i) it is neither a Plan (including, without limitation, an entity whose underlying assets include “plan assets” by reason of a Plan’s investment in the entity or otherwise) nor a governmental, church, non-U.S. or other plan which is subject to any Similar Law or (ii) its acquisition, holding and disposition of the Series 2017-1 Notes (or any interest therein) will not constitute a non-exempt prohibited transaction under Title I of ERISA or Section 4975 of the Code or, in the case of a governmental, church, non-U.S. or other plan, a non-exempt violation under any Similar Law.
(m)    In the case of an investment in the Series 2017-1 Class A-2 Notes, if it is a Benefit Plan Investor, at any time when regulation 29 C.F.R. Section 2510.3-21, as modified in 2016, is applicable, none of the Transaction Parties has provided or will provide advice with respect to the acquisition of such Notes by such Benefit Plan Investor, and the decision to acquire such Notes has been made by the Benefit Plan Investor fiduciary, which is an “independent fiduciary with financial expertise” as described in 29 C.F.R. Sec. 2510.3-21(c)(1), meaning that the Benefit Plan Investor fiduciary: (a) is (i) a bank, insurance carrier, registered investment adviser, or broker-dealer, in each case as described in 29 C.F.R. Section 2510.3- 21(c)(1)(i), or (ii) an independent fiduciary that holds, or has under its management or control, total assets of at least U.S. $50 million; (b) is an independent plan fiduciary within the meaning of 29 C.F.R. Section 2510.3-21; (c) is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies; (d) is responsible for exercising independent judgment in evaluating the transaction and (e) it is not paying any fee or other compensation to a Transaction Party for investment advice (as opposed to other services) in connection with the transaction. In addition, such fiduciary (i) has been informed (and expressly confirms) that none of the Transaction Parties, or other persons that provide marketing services, nor any of their affiliates, has provided, and none of them will provide, impartial investment advice and they are not giving any advice in a fiduciary capacity, in connection with the investor's acquisition of such Notes and (ii) has received and understands the disclosure of the existence and nature of the financial interests contained in the Offering Memorandum and related materials.  Notwithstanding the foregoing, any Benefit Plan Investor fiduciary which is an individual directing his or her own individual retirement account shall not be deemed to have made the representation in clause (a)(ii) above with respect to a “person with financial expertise.”
(n)    It understands that any subsequent transfer of the Series 2017-1 Notes or any interest therein is subject to certain restrictions and conditions set forth in the Indenture and it agrees to be bound by, and not to resell, pledge or otherwise transfer the Series 2017-1 Notes or any interest therein except in compliance with, such restrictions and conditions and the Securities Act.
(o)    It is not a Competitor.
Section 4.7    Limitation on Liability.  None of the Master Issuer, the Trustee or any Paying Agent shall have any responsibility or liability for any aspects of the records maintained by DTC or its nominee or any of the Agent Members relating to or for payments made thereby on account of beneficial interests in a Rule l44A Global Note or a Regulation S Global Note.  None of the Master Issuer, the Trustee or the Paying Agent shall have any responsibility or liability with respect to any records maintained by the Noteholder with respect to the beneficial holders thereof or payments made thereby on account of beneficial interests held therein.
ARTICLE V     
 
GENERAL
Section 5.1    Information.  On or before each Quarterly Payment Date, the Master Issuer shall furnish, or cause to be furnished, a Quarterly Noteholder’s Report with respect to the Series 2017-1 Notes to the Trustee, substantially in the form of Exhibit C hereto, setting forth, inter alia, the following information with respect to such Quarterly Payment Date:
(i)    the total amount available to be distributed to Series 2017-1 Noteholders on such Quarterly Payment Date;
(ii)    the amount of such distribution allocable to the payment of interest on each Class and Tranche of the Series 2017-1 Notes;
(iii)    the amount of such distribution allocable to the payment of principal of each Class and Tranche of the Series 2017-1 Notes;
(iv)    the amount of such distribution allocable to the payment of any Series 2017-1 Class A-2 Make-Whole Prepayment Premium or Series 2017-1 Class A-2 Scheduled Principal Prepayment Premium, if any, on each Tranche;
(v)    the amount of such distribution allocable to the payment of any fees or other amounts due to the Series 2017-1 Class A-1 Noteholders;
(vi)    whether, to the Actual Knowledge of the Master Issuer, any Potential Rapid Amortization Event, Rapid Amortization Event, Default, Event of Default, Potential Manager Termination Event or Manager Termination Event has occurred as of the related Quarterly Calculation Date or any Cash Trapping Period is in effect, as of such Quarterly Calculation Date;
(vii)    the DSCR for such Quarterly Payment Date and the three Quarterly Payment Dates immediately preceding such Quarterly Payment Date;
(viii)    the number of franchised PODs as of the last day of the preceding Quarterly Collection Period;
(ix)    the amount of Dunkin’ Donuts U.S. Sales as of the last day of the related Quarterly Collection Period; and
(x)    the amount on deposit in the Senior Notes Interest Reserve Account (and the availability under any Interest Reserve Letter of Credit relating to the Senior Notes)  and the amount on deposit in the Cash Trap Reserve Account, if any, in each case as of the close of business on the last Business Day of the preceding Quarterly Collection Period.
Any Series 2017-1 Noteholder may obtain copies of each Quarterly Noteholder’s Report in accordance with the procedures set forth in Section 4.4 of the Base Indenture.  
Section 5.2    Exhibits.  The annexes, exhibits and schedules attached hereto and listed on the table of contents hereto supplement the annexes, exhibits and schedules included in the Base Indenture.
Section 5.3    Ratification of Base Indenture.  As supplemented by this Series Supplement, the Base Indenture is in all respects ratified and confirmed and the Base Indenture as so supplemented by this Series Supplement shall be read, taken and construed as one and the same instrument.
Section 5.4    Certain Notices to the Rating Agencies.  The Master Issuer shall provide to each Rating Agency a copy of each Opinion of Counsel and Officer’s Certificate delivered to the Trustee pursuant to this Series Supplement or any other Related Document.  
Section 5.5    Prior Notice by Trustee to the Controlling Class Representative and Control Party.  Subject to Section 10.1 of the Base Indenture, the Trustee agrees that it shall not exercise any rights or remedies available to it as a result of the occurrence of a Rapid Amortization Event or an Event of Default until after the Trustee has given prior written notice thereof to the Controlling Class Representative and the Control Party and obtained the direction of the Control Party (subject to Section 11.4(e) of the Base Indenture, at the direction of the Controlling Class Representative).
Section 5.6    Counterparts.  This Series Supplement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument.
Section 5.7    Governing Law.  THIS SERIES SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
Section 5.8    Amendments.  This Series Supplement may not be modified or amended except in accordance with the terms of the Base Indenture.
Section 5.9    Termination of Series Supplement.  This Series Supplement shall cease to be of further effect when (i) all Outstanding Series 2017-1 Notes theretofore authenticated and issued have been delivered (other than destroyed, lost, or stolen Series 2017-1 Notes that have been replaced or paid) to the Trustee for cancellation and all Letters of Credit have expired, have been cash collateralized in full pursuant to the terms of the Series 2017-1 Class A-1 Note Purchase Agreement or are deemed to no longer be outstanding in accordance with Section 4.04 of the Series 2017-1 Class A-1 Note Purchase Agreement, (ii) all fees and expenses and other amounts under the Series 2017-1 Class A-1 Note Purchase Agreement have been paid in full and all Series 2017-1 Class A-1 Commitments have been terminated, (iii) the Master Issuer has paid all sums payable hereunder and, without duplication (iv) the conditions set forth in Section 12.1(c) of the Base Indenture have been satisfied with respect to the Series 2017-1 Notes; provided that any provisions of this Series Supplement required for the Series 2017-1 Final Payment to be made shall survive until the Series 2017-1 Final Payment is paid to the Series 2017-1 Noteholders.  
Section 5.10    Entire Agreement.  This Series Supplement, together with the exhibits and schedules hereto and the other Indenture Documents, contains a final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof, superseding all previous oral statements and other writings with respect thereto.
[Signature Pages Follow]

IN WITNESS WHEREOF, each of the Master Issuer, the Trustee and the Series 2017-1 Securities Intermediary has caused this Series Supplement to be duly executed by its respective duly authorized officer as of the day and year first written above.

DB MASTER FINANCE LLC, as Master Issuer
		
	By:
	/s/ Katherine D. Jaspon         
Name: Katherine D. Jaspon 
Title:       Chief Financial Officer

CITIBANK, N.A., in its capacity as Trustee and as Series 2017-1 Securities Intermediary
		
	By:
	/s/ Jacqueline Suarez         
Name: Jacqueline Suarez 
Title:       Vice President

CONSENT OF CONTROL PARTY AND SERVICER:
Midland Loan Services, a division of PNC Bank, National Association, as Control Party and as Servicer, hereby consents to the execution and delivery by the Master Issuer and the Trustee and Securities Intermediary of the foregoing Series Supplement.
 
MIDLAND LOAN SERVICES, 
A DIVISION OF PNC BANK, NATIONAL ASSOCIATION,
 
By: /s/ Steven W. Smith             
      Name: Steven W. Smith 
      Title:   Executive Vice President

ANNEX A
SERIES 2017-1
SUPPLEMENTAL DEFINITIONS LIST
“Accrued Quarterly Scheduled Principal Amount” means, for each Weekly Allocation Date with respect to any Quarterly Collection Period, an amount equal to the lesser of (a) the sum of (i) the product of (1) the Weekly Accrual Percentage for such Weekly Collection Period and (2) the Quarterly Scheduled Principal Amount for the Quarterly Payment Date in the next succeeding Quarterly Collection Period and (ii) the Accrued Quarterly Scheduled Principal Shortfall Amount for such Weekly Allocation Date and (b) the amount, if any, by which (i) the Quarterly Scheduled Principal Amount for the Quarterly Payment Date in the next succeeding Quarterly Collection Period exceeds (ii) the aggregate amount previously allocated to the Senior Notes Principal Payment Account with respect to the Series 2017-1 Senior Notes on each preceding Weekly Allocation Date with respect to such Quarterly Collection Period; provided that, solely for purposes of the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, the “Accrued Quarterly Scheduled Principal Amount” shall be deemed to mean an amount equal to the excess of (x) the product of (1) 40.0% and (2) the Quarterly Scheduled Principal Amount for the Quarterly Payment Date in the next succeeding Quarterly Collection Period over (y) the amount (if any) of the Series 2015-1 Note Excess Funds that the Manager directs the Trustee to apply to the Accrued Quarterly Scheduled Principal Amount pursuant to the Weekly Manager’s Certificate with respect to such Weekly Allocation Date.  For purposes of the Base Indenture, the Accrued Quarterly Scheduled Principal Amount shall be deemed to be a “Senior Notes Accrued Quarterly Scheduled Principal Amount”.     
“Accrued Quarterly Scheduled Principal Shortfall Amount” means, (a) for the first Weekly Allocation Date with respect to any Quarterly Collection Period, as well as the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, zero, and (b) for any other Weekly Allocation Date with respect to such Quarterly Collection Period the amount, if any, by which (i) the amount allocated to the Senior Notes Principal Payment Account with respect to Accrued Quarterly Scheduled Principal Amounts on the immediately preceding Weekly Allocation Date with respect to such Quarterly Collection Period was less than (ii) the Accrued Quarterly Scheduled Principal Amount for such immediately preceding Weekly Allocation Date.
“Acquiring Committed Note Purchaser” has the meaning set forth in Section 9.17(a) of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Acquiring Investor Group” has the meaning set forth in Section 9.17(c) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Administrative Agent” has the meaning set forth in the preamble to the Series 2017-1 Class A-1 Note Purchase Agreement.  For purposes of the Base Indenture, the “Administrative Agent” shall be deemed to be a “Class A-1 Administrative Agent”.
“Administrative Agent Fees” has the meaning set forth in the Series 2017-1 Class A-1 VFN Fee Letter.
“Advance Request” has the meaning set forth in Section 7.03(d) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Affected Person” has the meaning set forth in Section 3.05 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Agent Members” means members of, or participants in, DTC.
“Aggregate Unpaids” has the meaning set forth in Section 5.01 of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Application” means an application, in such form as the applicable L/C Issuing Bank may specify from time to time, requesting such L/C Issuing Bank to issue a Letter of Credit. 
“Assignment and Assumption Agreement” has the meaning set forth in Section 9.17(a) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Base Rate” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Base Rate Advance” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Benefit Plan Investor” has the meaning given to such term in Section 3(42) of ERISA.
“Borrowing” has the meaning set forth in Section 2.02(c) of the 2017-1 Class A-1 Note Purchase Agreement. 
“Breakage Amount” has the meaning set forth in Section 3.06 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Cede” has the meaning set forth in Section 4.2(a) of the Series 2017-1 Supplement.
“Class A-1 Accrued Quarterly Commitment Fee Shortfall” means (a) for the first Weekly Allocation Date with respect to any Quarterly Collection Period, as well as the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, zero, and (b) for any other Weekly Allocation Date with respect to such Quarterly Collection Period the amount, if any, by which (i) the aggregate amount allocated to the Class A‐1 Notes Commitment Fees Account with respect to the Series 2017-1 Class A-1 Notes on each preceding Weekly Allocation Date with respect to such Quarterly Collection Period was less than (ii) the aggregate Class A-1 Notes Accrued Quarterly Commitment Fee Amounts for all such preceding Weekly Allocation Dates.
“Class A-1 Amendment Expenses” means “Amendment Costs” as defined in, and payable pursuant to, Section 9.05(a)(ii) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Class A-1 Daily Interest Amount” means, for any day during any Interest Accrual Period, the sum of the following amounts: 
(a)    with respect to any Eurodollar Advance outstanding on such day, the result of (i) the product of (x) the Eurodollar Rate in effect for such Interest Accrual Period and (y) the principal amount of such Series 2017-1 Class A-1 Advance outstanding as of the close of business on such day divided by (ii) 360; plus
(b)    with respect to any Base Rate Advance outstanding on such day, the result of (i) the product of (x) the Base Rate in effect for such day and (y) the principal amount of such Series 2017-1 Class A-1 Advance outstanding as of the close of business on such day divided by (ii) 360; plus
(c)    with respect to any CP Advance outstanding on such day, the result of (i) the product of (x) the CP Rate in effect for such Interest Accrual Period and (y) the principal amount of such Series 2017-1 Class A-1 Advance outstanding as of the close of business on such day divided by (ii) 360; plus 
(d)    with respect to any Swingline Loans or Unreimbursed L/C Drawings outstanding on such day, the result of (i) the product of (x) the Base Rate in effect for such day and (y) the principal amount of such Series 2017-1 Class A-1 Swingline Loans and Unreimbursed L/C Drawings outstanding as of the close of business on such day divided by (ii) 360; plus 
(e)    with respect to any Undrawn L/C Face Amounts outstanding on such day, the L/C Quarterly Fees that accrue thereon for such day. 
“Class A-1 Estimated Quarterly Commitment Fee” means, with respect to any Interest Accrual Period, an amount equal to the sum of (a) the product of (i) the Estimated Daily Commitment Fees Amount for such Interest Accrual Period and (ii) the number of days in such Interest Accrual Period, and (b) the amount of any Class A-1 Quarterly Commitment Fees Shortfall Amount with respect to the Series 2017-1 Class A-1 Notes (as determined pursuant to Section 5.12(e) of the Base Indenture) for the immediately preceding Interest Accrual Period together with Additional Class A-1 Notes Commitment Fees Shortfall Interest (as determined pursuant to Section 5.12(e) of the Base Indenture) on such Class A-1 Quarterly Commitment Fees Shortfall Amount.
“Class A-1 Estimated Quarterly Interest” means, with respect to each Interest Accrual Period, an amount equal to the sum of (a) the product of (i) the Estimated Class A-1 Daily Interest Amount for such Interest Accrual Period and (ii) the number of days in such Interest Accrual Period, and (b) the amount of any Senior Notes Quarterly Interest Shortfall Amount with respect to the Series 2017-1 Class A-1 Notes (as determined pursuant to Section 5.12(b) of the Base Indenture) for the immediately preceding Interest Accrual Period (together with Additional Senior Notes Interest Shortfall Interest (as determined pursuant to Section 5.12(c) of the Base Indenture) on such Senior Notes Quarterly Interest Shortfall Amount.
“Class A-1 Extension Fees” means the fees payable pursuant to the Series 2017-1 Class A-1 VFN Fee Letter in connection with the extension of a Commitment Termination Date.
“Class A-1 Final Interest Adjustment Amount” means, for any Interest Accrual Period, the result (whether a positive or negative number) of (a) the aggregate of the Class A-1 Daily Interest Amounts for each day in such Interest Accrual Period minus (b) the aggregate amount allocated pursuant to clauses (i), (iii) and (iv) (to the extent such amounts under clause (iii) were allocated with respect to amounts calculated under clause (i) or (iv)) of the defined term “Senior Notes Accrued Quarterly Interest Amount” in respect of such Interest Accrual Period, in each case without duplication.  For purposes of the Base Indenture, the “Class A-1 Final Interest Adjustment Amount” for any Interest Accrual Period shall be deemed to be a “Class A‐1 Interest Adjustment Amount” for such Interest Accrual Period. 
“Class A-1 Interim Interest Adjustment Amount” means, with respect to any Interest Accrual Period, as of any date of determination prior to the ending of such Interest Accrual Period, the result (if positive) of (a) the expected aggregate of the Class A-1 Daily Interest Amounts for each day in such Interest Accrual Period as of such date of determination, as determined by the Manager in accordance with the Managing Standard minus (b) the aggregate amount allocated pursuant to clauses (i), (iii) and (iv) (to the extent such amounts under clause (iii) were allocated with respect to amounts calculated under clauses (i) or (iv) and without duplication) of the defined term “Senior Notes Accrued Quarterly Interest Amount” in respect of such Interest Accrual Period.
“Class A-1 Notes Accrued Quarterly Commitment Fee Amount” means, for each Weekly Allocation Date with respect to a Quarterly Collection Period and the Interest Accrual Period beginning during such Quarterly Collection Period (except as provided for in clause (iv) below, with respect to the Interest Accrual Period ending in such Quarterly Collection Period), an amount equal to the sum of 
(i) the lesser of (A) the product of (1) the Weekly Accrual Percentage for such Weekly Collection Period and (2) the Class A-1 Estimated Quarterly Commitment Fee for such Interest Accrual Period and (B) the amount, if any, by which, (1) the Class A-1 Estimated Quarterly Commitment Fee exceeds (2) the aggregate amount previously allocated pursuant to this clause (i) and clause (ii) (to the extent such amounts under clause (ii) were allocated with respect to amounts calculated under this clause (i)) on each preceding Weekly Allocation Date during such Quarterly Collection Period plus the absolute value of any allocated but unpaid negative Commitment Fee Final Adjustment Amount; provided that, solely for purposes of the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, this clause (i) shall be deemed to mean an amount equal to the excess of (x) the product of (1) 40.0% and (2) the Class A-1 Estimated Quarterly Commitment Fee for such Interest Accrual Period over (y) the amount (if any) of the Series 2015-1 Note Excess Funds that the Manager directs the Trustee to apply to the Class A-1 Notes Accrued Quarterly Commitment Fee Amount pursuant to the Weekly Manager’s Certificate with respect to such Weekly Allocation Date; 
(ii) the Class A-1 Accrued Quarterly Commitment Fee Shortfall for such Weekly Allocation Date; 
(iii) if such Weekly Allocation Date is the twelfth or thirteenth Weekly Allocation Date in such Quarterly Collection Period, the Commitment Fee Interim Adjustment Amount, if positive, with respect to such Interest Accrual Period; and
(iv) if such Weekly Allocation Date is the last Weekly Allocation Date in the Interest Accrual Period ending in such Quarterly Collection Period, the Commitment Fee Final Adjustment Amount, if positive, with respect to such Interest Accrual Period. 
For purposes of the Base Indenture, the “Class A-1 Notes Accrued Quarterly Commitment Fee Amount” shall be deemed to be the “Class A-1 Notes Accrued Quarterly Commitment Fee Amount”.
“Class A-1 Notes Other Amounts” means the amounts identified as “Breakage Amounts”, Indemnified Liabilities”, “Applicable Agent Indemnified Liabilities”, “Increased Capital Costs”, Increased Costs”, “Increased Tax Costs”, “Pre-Closing Costs”, “Other Post-Closing Expenses” or “Out-of-Pocket Expenses” in the Series 2017-1 Class A-1 Note Purchase Agreement.  For purposes of the Base Indenture, the “Class A-1 Notes Other Amounts” shall be deemed to be “Class A-1 Notes Other Amounts”. 
“Class A-1 Taxes” has the meaning set forth in Section 3.08(a) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Class A-1 Quarterly Commitment Fee Amount” means, for any Interest Accrual Period, with respect to all Outstanding Series 2017-1 Class A-1 Notes, the Undrawn Commitment Fees due and payable on all such Outstanding Series 2017-1 Class A-1 Notes with respect to such Interest Accrual Period.  For purposes of the Base Indenture, the “Class A-1 Quarterly Commitment Fee Amount” shall be deemed to be a “Class A-1 Quarterly Commitment Fee Amount”.  For purposes of calculating the DSCR only, the Class A-1 Quarterly Commitment Fee Amount for the Series 2017-1 Class A-1 Notes shall be divided between the Quarterly Payment Date in November 2017 and the Quarterly Payment Date in February 2018 as follows: (x) for the Quarterly Payment Date in November 2017, an amount equal to the Class A-1 Quarterly Commitment Fee Amount that would be payable on the Quarterly Payment Date in November 2017 assuming a 22-day initial Interest Accrual Period for the Series 2017-1 Class A-1 Notes and (y) for the Quarterly Payment Date in February 2018, an amount equal to the Class A-1 Quarterly Commitment Fee Amount that would be payable on the Quarterly Payment Date in February 2018 assuming a 92-day Interest Accrual Period for the Series 2017-1 Class A-1 Notes. 
 “Class A-2 Quarterly Interest” means, with respect to any Interest Accrual Period, an amount equal to the sum of (i) the accrued interest at the Series 2017-1 Class A-2 Note Rate on the Series 2017-1 Class A-2 Outstanding Principal Amount, calculated based on a 360-day year of twelve 30-day months, and (ii) the amount of any Senior Notes Quarterly Interest Shortfall Amount with respect to the Series 2017-1 Class A-2 Notes (as determined pursuant to Section 5.12(b) of the Base Indenture), for the immediately preceding Interest Accrual Period together with Additional Senior Notes Interest Shortfall Interest (as determined pursuant to Section 5.12(c) of the Base Indenture) on such Senior Notes Quarterly Interest Shortfall Amount.
 “Commercial Paper” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Commitment Amount” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Commitments” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Commitment Fee Final Adjustment Amount” means, for any Interest Accrual Period, the result (whether a positive or negative number) of (a) the aggregate of the Daily Commitment Fees Amounts for each day in such Interest Accrual Period minus (b) the aggregate amount allocated pursuant to clauses (i), (ii), and (iii) of the defined term “Class A-1 Notes Accrued Quarterly Commitment Fee Amount” in respect of such Interest Accrual Period.  For purposes of the Base Indenture, the “Commitment Fee Final Adjustment Amount” shall be deemed to be the “Class A-1 Commitment Fee Adjustment Amount”. 
“Commitment Fee Interim Adjustment Amount” means, with respect to any Interest Accrual Period, as of any date of determination prior to the ending of such Interest Accrual Period, the result (if positive) of (a) the expected aggregate of the Daily Commitment Fees Amounts for each day in such Interest Accrual Period as of such date of determination, as determined by the Manager in accordance with the Managing Standard minus (b) the aggregate amount allocated pursuant to clauses (i), (ii), and (iii) of the defined term “Class A-1 Notes Accrued Quarterly Commitment Fee Amount” in respect of such Interest Accrual Period.
“Commitment Percentage” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Commitment Term” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Commitment Termination Date” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Committed Note Purchaser” has the meaning set forth in the preamble to the Series 2017-1 Class A-1 Note Purchase Agreement.
“Committed Note Purchaser Percentage” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Conduit Assignee” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Conduit Investors” has the meaning set forth in the preamble to the Series 2017-1 Class A-1 Note Purchase Agreement.
“Confidential Information” for purposes of the Series 2017-1 Class A-1 Note Purchase Agreement, has the meaning set forth in Section 9.11 of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“CP Advance” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“CP Funding Rate” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“CP Rate” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Daily Commitment Fees Amount” means, for any day during any Interest Accrual Period, the Undrawn Commitment Fees that accrue for such day.
“Daily Post-Renewal Date Contingent Interest Amount” means, for any day during any Interest Accrual Period commencing on or after the Series 2017-1 Class A-1 Notes Renewal Date, the sum of (a) the result of (i) the product of (x) the Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest Rate and (y) the Series 2017-1 Class A-1 Outstanding Principal Amount (excluding any Base Rate Advances and Undrawn L/C Face Amounts included therein) as of the close of business on such day divided by (ii) 360 and (b) the result of (i) the product of (x) the Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest Rate and (y) any Base Rate Advances included in the Series 2017-1 Class A-1 Outstanding Principal Amount as of the close of business on such day divided by (ii) 365 or 366, as applicable.
“Decrease” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Defaulting Administrative Agent Event” has the meaning set forth in Section 5.07(b) of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Defaulting Investor” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Definitive Notes” has the meaning set forth in Section 4.2(c) of the Series 2017-1 Supplement.
“DTC” means The Depository Trust Company and any successor thereto.
“Eligible Conduit Investor” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.
“Estimated Class A-1 Daily Interest Amount” means (a) for the first Interest Accrual Period, the Class A-1 Daily Interest Amount as of the Closing Date and (b) for any other Interest Accrual Period, the Class A-1 Daily Interest Amount for the first day of the Quarterly Collection Period during which such Interest Accrual Period commenced.
“Estimated Daily Commitment Fees Amount” means (a) for the first Interest Accrual Period, the Daily Commitment Fees Amount as of the Closing Date and (b) for any other Interest Accrual Period, the Daily Commitment Fees Amount for the first day of the Quarterly Collection Period during which such Interest Accrual Period commenced. 
“Eurodollar Advance” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Eurodollar Business Day” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Eurodollar Funding Rate” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Eurodollar Funding Rate (Reserve Adjusted)” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Eurodollar Interest Accrual Period” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Eurodollar Rate” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Eurodollar Reserve Percentage” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Eurodollar Tranche” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Federal Funds Rate” means, for any specified period, a fluctuating interest rate per annum equal for each day during such period to the weighted average of the overnight federal funds rates as published in Federal Reserve Board Statistical Release H.15(519) or any successor or substitute publication selected by the Administrative Agent (or, if such day is not a Business Day, for the next preceding Business Day), or if, for any reason, such rate is not available on any day, the rate determined, in the reasonable opinion of the Administrative Agent, to be the rate at which overnight federal funds are being offered in the national federal funds market at 9:00 a.m. (New York City time).
“Fitch” means Fitch, Inc., doing business as Fitch Ratings, or any successor thereto.
“F.R.S. Board” means the Board of Governors of the Federal Reserve System.
“Funding Agent” has the meaning set forth in the preamble to the Series 2017-1 Class A-1 Note Purchase Agreement.
“Hague Securities Convention” means the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary, concluded 5 July 2006.
“Increase” has the meaning set forth in Section 2.1(a) of the Series 2017-1 Supplement.
“Initial Purchaser” means, collectively, Guggenheim Securities LLC, Barclays Capital Inc., Goldman Sachs & Co., Citigroup Global Markets, Inc. and J.P. Morgan Securities, LLC.
“Investor” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Investor Group” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Investor Group Increase Amount” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Investor Group Principal Amount” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Investor Group Supplement” has the meaning set forth in Section 9.17(c) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“L/C Commitment” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“L/C Issuing Bank” has the meaning set forth in Section 2.07(g) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“L/C Quarterly Fees” has the meaning set forth in Section 2.07(d) of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“L/C Obligations” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“L/C Provider” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“L/C Reimbursement Amount” has the meaning set forth in Section 2.08(a) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Lender Party” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Letter of Credit” has the meaning set forth in Section 2.07(a) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Make-Whole End Date” has the meaning set forth in Section 3.6(e) of the Series 2017-1 Supplement.  
“Mandatory Decrease” has the meaning set forth in Section 2.2(a) of the Series 2017-1 Supplement.
“Margin Stock” means “margin stock” as defined in Regulation U of the F.R.S. Board, as amended from time to time. 
“Maximum Investor Group Principal Amount” means, as to each Investor Group existing on the Series 2017-1 Closing Date, the amount set forth on Schedule I to the Series 2017-1 Class A-1 Note Purchase Agreement as such Investor Group’s Maximum Investor Group Principal Amount or, in the case of any other Investor Group, the amount set forth as such Investor Group’s Maximum Investor Group Principal Amount in the Assignment and Assumption Agreement, Investor Group Supplement by which the members of such Investor Group become parties to the Series 2017-1 Class A-1 Note Purchase Agreement, in each case, as such amount may be (i) reduced pursuant to Section 2.05 of the Series 2017-1 Class A-1 Note Purchase Agreement or (ii) increased or reduced by any Assignment and Assumption Agreement, Investor Group Supplement entered into by the members of such Investor Group in accordance with the terms of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Non-Excluded Taxes” has the meaning set forth in Section 3.08(a) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Non-Funding Committed Notes Purchaser” has the meaning set forth in Section 2.02(a) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Offering Memorandum” means the Offering Memorandum for the offering of the Series 2017-1 Class A-2 Notes, dated September 14, 2017, prepared by the Master Issuer.
“Official Body” has the meaning set forth in the definition of “Change in Law”. 
“Outstanding Series 2017-1 Class A-1 Notes” means, with respect to the Series 2017-1 Class A-1 Notes, all Series 2017-1 Class A-1 Notes theretofore authenticated and delivered under the Base Indenture, except:
(i)    Series 2017-1 Class A-1 Notes theretofore canceled by the Registrar or delivered to the Registrar for cancellation;
(ii)    Series 2017-1 Class A-1 Notes, or portions thereof, for whose payment or redemption funds in the necessary amount have been theretofore irrevocably deposited in the Series 2017-1 Class A-1 Distribution Account and are available for payment of such Series 2017-1 Class A-1 Notes and the Commitments with respect to which have terminated; provided that if such Series 2017-1 Class A-1 Notes or portions thereof are to be redeemed, notice of such redemption has been duly given pursuant to the Indenture or provision therefore reasonably satisfactory to the Trustee has been made;
(iii)    Series 2017-1 Class A-1 Notes that have been defeased in accordance with Section 12.1 of the Base Indenture;
(iv)    Series 2017-1 Class A-1 Notes in exchange for, or in lieu of which other Series 2017-1 Class A-1 Notes have been authenticated and delivered pursuant to the Indenture, unless proof reasonably satisfactory to the Trustee is presented that any such Series 2017-1 Class A-1 Notes are held by a holder in due course or protected purchaser; and
(v)    Series 2017-1 Class A-1 Notes alleged to have been mutilated, destroyed, lost or stolen for which replacement Series 2017-1 Class A-1 Notes have been issued as provided in the Indenture. 
“Outstanding Series 2017-1 Class A-2 Notes” means, with respect to the Series 2017-1 Class A-2 Notes, all Series 2017-1 Class A-2 Notes theretofore authenticated and delivered under the Base Indenture, except:
(i)    Series 2017-1 Class A-2 Notes theretofore canceled by the Registrar or delivered to the Registrar for cancellation;
(ii)    Series 2017-1 Class A-2 Notes, or portions thereof, for whose payment or redemption funds in the necessary amount have been theretofore irrevocably deposited in the Series 2017-1 Class A-2 Distribution Account and are available for payment of such Series 2017-1 Class A-2 Notes; provided that if such Series 2017-1 Class A-2 Notes or portions thereof are to be redeemed, notice of such redemption has been duly given pursuant to the Indenture or provision therefore reasonably satisfactory to the Trustee has been made;
(iii)    Series 2017-1 Class A-2 Notes that have been defeased in accordance with Section 12.1 of the Base Indenture;
(iv)    Series 2017-1 Class A-2 Notes in exchange for, or in lieu of which other Series 2017-1 Class A-2 Notes have been authenticated and delivered pursuant to the Indenture, unless proof reasonably satisfactory to the Trustee is presented that any such Series 2017-1 Class A-2 Notes are held by a holder in due course or protected purchaser; and
(v)    Series 2017-1 Class A-2 Notes alleged to have been mutilated, destroyed, lost or stolen for which replacement Series 2017-1 Class A-2 Notes have been issued as provided in the Indenture; 
provided that (A) in determining whether the Noteholders of the requisite Outstanding Principal Amount have given any request, demand, authorization, direction, notice, consent, waiver or vote under the Indenture, the following Series 2017-1 Class A-2 Notes shall be disregarded and deemed not to be Outstanding:  (x) Series 2017-1 Class A-2 Notes owned by the Securitization Entities or any other obligor upon the Series 2017-1 Class A-2 Notes or any Affiliate of any of them and (y) Series 2017-1 Class A-2 Notes held in any accounts with respect to which the Manager or any Affiliate thereof exercises discretionary voting authority; provided, further, that in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or vote, only Series 2017-1 Class A-2 Notes as described under clause (x) or (y) above that a Trust Officer actually knows to be so owned shall be so disregarded; and (B) Series 2017-1 Class A-2 Notes owned in the manner indicated in clause (x) or (y) above that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Series 2017-1 Class A-2 Notes and that the pledgee is not a Securitization Entity or any other obligor or the Manager, an Affiliate thereof, or an account for which the Manager or an Affiliate of the Manager exercises discretionary voting authority.
“Outstanding Series 2017-1 Notes” means, collectively, all Outstanding Series 2017-1 Class A-1 Notes and all Outstanding Series 2017-1 Class A-2 Notes.
“Permanent Regulation S Global Notes” has the meaning set forth in Sections 4.2(b) of the Series 2017-1 Supplement.
“Prepayment Notice” has the meaning set forth in Section 3.6(g) of the Series 2017-1 Supplement.
“Prepayment Record Date” means, with respect to the date of any Series 2017-1 Prepayment, the last day of the calendar month immediately preceding the date of such Series 2017-1 Prepayment unless such last day is less than ten (10) Business Days prior to the date of such Series 2017-1 Prepayment, in which case the “Prepayment Record Date” will be the last day of the second calendar month immediately preceding the date of such Series 2017-1 Prepayment.
“Prime Rate” means the rate of interest publicly announced from time to time by a commercial bank mutually agreed upon by the Manager and the Servicer as its reference rate, base rate or prime rate.
“Program Support Agreement” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Program Support Provider” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Quarterly Scheduled Principal Amount” means, with respect to each Quarterly Payment Date commencing on February 20, 2018, (i) with respect to the Series 2017-1 Class A-2-I Notes, $1,500,000 and (ii) with respect to the Series 2017-1 Class A-2-II Notes, $2,000,000; provided that amounts paid to the Class A-2 Noteholders in respect of the Series 2017-1 Class A-2 Outstanding Principal Amount (x) in respect of amounts allocated pursuant to clause (i)(D) of the Priority of Payments shall reduce the respective Quarterly Scheduled Principal Amounts pro rata, (y) as optional prepayments pursuant to Section 3.6(f)(i), shall reduce the respective Quarterly Scheduled Principal Amounts with respect to the applicable Tranche ratably based on the Outstanding Principal Amount of such optional prepayment or (z) as Optional Scheduled Principal Prepayments pursuant to Section 3.6(f)(ii) shall reduce such Quarterly Scheduled Principal Amounts prepaid to zero.  Series 2017-1 Class A-2 Notes that are cancelled pursuant to Section 2.14 of the Base Indenture shall reduce the applicable Quarterly Scheduled Principal Amounts ratably based on the Outstanding Principal Amount of such Series 2017-1 Class A-2 Notes.  For purposes of the Base Indenture, Quarterly Scheduled Principal Amounts shall be deemed to be “Scheduled Principal Payments”.  
 “Quarterly Scheduled Principal Deficiency Amount” means, as of any date of determination, the amount, if any, of due and unpaid Quarterly Scheduled Principal Amount with respect to each Quarterly Payment Date prior to such date of determination. 
“Rabobank” means Coöperatieve Rabobank, U.A., New York Branch.
“Rating Agencies” means S&P and any successor or successors thereto.  Solely with respect to the Class A-2 Notes, in the event that at any time the rating agencies rating the Series 2017-1 Class A-2 Notes do not include S&P, references to rating categories of S&P in this Series Supplement shall be deemed instead to be references to the equivalent categories of such other rating agency as then is rating the Notes as of the most recent date on which such other rating agency and S&P published ratings for the type of security in respect of which such alternative rating agency is used.
“Refunding Date” has the meaning set forth in Section 2.06(f) of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Regulation S” means Regulation S promulgated under the Securities Act.
“Regulation S Global Notes” means, collectively, the Temporary Regulation S Global Notes and the Permanent Regulation S Global Notes.
“Reimbursement Obligation” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Restricted Period” means, with respect to any Series 2017-1 Class A-2 Notes sold pursuant to Regulation S, the period commencing on such Series 2017-1 Closing Date and ending on the 40th day after the Series 2017-1 Closing Date.
“Rule 144A Global Notes” has the meaning set forth in Section 4.2(a) of the Series 2017-1 Supplement.
“Rule 144A” means Rule 144A promulgated under the Securities Act.
“Sale Notice” has the meaning set forth in Section 9.18(b) of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Senior Notes Accrued Quarterly Interest Amount” means, for each Weekly Allocation Date with respect to a Quarterly Collection Period and the Interest Accrual Period beginning during such Quarterly Collection Period (except as provided for in clause (v) below, with respect to the Interest Accrual Period ending in such Quarterly Collection Period), an amount equal to the sum of 
(i) the lesser of (A) the product of (1) the Weekly Accrual Percentage for such Weekly Collection Period and (2) the Class A-1 Estimated Quarterly Interest for such Interest Accrual Period and (B) the amount, if any, by which (1) the Class A-1 Estimated Quarterly Interest for such Interest Accrual Period exceeds (2) the aggregate amount previously allocated pursuant to this clause (i) and clause (iii) (to the extent such amounts under clause (iii) were allocated with respect to amounts calculated under this clause (i), without duplication) on each preceding Weekly Allocation Date during such Quarterly Collection Period plus the absolute value of any allocated but unpaid negative Class A-1 Final Interest Adjustment Amount; provided that, solely for purposes of the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, this clause (i) shall be deemed to mean an amount equal to the excess of (x) the product of (1) 40.0% and (2) the Class A-1 Estimated Quarterly Interest for such Interest Accrual Period over (y) the amount (if any) of the Series 2015-1 Note Excess Funds that the Manager directs the Trustee to apply to the Senior Notes Accrued Quarterly Interest Amount pursuant to this clause (i), pursuant to the Weekly Manager’s Certificate with respect to such Weekly Allocation Date; 
(ii) the lesser of (A) the product of (1) the Weekly Accrual Percentage for such Weekly Collection Period and (2) the Class A-2 Quarterly Interest for such Interest Accrual Period and (B) the amount by which (1) the Class A-2 Quarterly Interest for such Interest Accrual Period exceeds (2) the aggregate amount previously allocated pursuant to this clause (ii) and clause (iii) (to the extent such amounts under clause (iii) were allocated with respect to amounts calculated under this clause (ii), without duplication) on each preceding Weekly Allocation Date during such Quarterly Collection Period; provided that, solely for purposes of the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, this clause (ii) shall be deemed to mean an amount equal to the excess of (x) the product of (1) 40.0% and (2) the Class A-2 Quarterly Interest for such Interest Accrual Period over (y) the amount (if any) of the Series 2015-1 Note Excess Funds that the Manager directs the Trustee to apply to the Senior Notes Accrued Quarterly Interest Amount pursuant to this clause (ii), pursuant to the Weekly Manager’s Certificate with respect to such Weekly Allocation Date;
(iii) the Senior Notes Accrued Quarterly Interest Shortfall for such Weekly Allocation Date; 
(iv) if such Weekly Allocation Date is the twelfth or thirteenth Weekly Allocation Date in such Quarterly Collection Period, the Class A-1 Interim Interest Adjustment Amount, if positive, with respect to such Interest Accrual Period; and
(v) if such Weekly Allocation Date is the last Weekly Allocation Date in the Interest Accrual Period ending in such Quarterly Collection Period, the Class A-1 Final Interest Adjustment Amount, if positive, with respect to such Interest Accrual Period.
For purposes of the Base Indenture, the “Senior Notes Accrued Quarterly Interest Amount” shall be deemed to be a “Senior Notes Accrued Quarterly Interest Amount”.
“Senior Notes Accrued Quarterly Interest Shortfall” means (a) for the first Weekly Allocation Date with respect to any Quarterly Collection Period, as well as the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, zero, and (b) for any other Weekly Allocation Date with respect to such Quarterly Collection Period the amount, if any, by which (i) the aggregate amount allocated to the Senior Notes Interest Payment Account with respect to the Senior Notes on each preceding Weekly Allocation Date with respect to such Quarterly Collection Period was less than (ii) the aggregate Senior Notes Accrued Quarterly Interest Amount for all such preceding Weekly Allocation Dates.
“Series 2015-1 Class A-1 Notes” means the “Series 2015-1 Class A-1 Notes” as defined in the Series 2015-1 Supplement to the Base Indenture, dated as January 26, 2015, by and between the Master Issuer and the Trustee.
“Series 2015-1 Class A-2-I Notes” means the “Series 2015-1 Class A-2-I Notes” as defined in the Series 2015-1 Supplement to the Base Indenture, dated as January 26, 2015, by and between the Master Issuer and the Trustee.
“Series 2015-1 Note Excess Funds” means, for the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, the aggregate amount of any funds that (x) were allocated on any previous Weekly Allocation Date to a Collection Account Administrative Account for future payments (whether in respect of principal, interest, fees or otherwise) with respect to the Series 2015-1 Class A-1 Notes or the Series 2015-1 Class A-2-I Notes and (y) as of the Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, have not been applied to make payments with respect to such Notes; provided, however, that if either of the Series 2015-1 Class A-1 Notes or the Series 2015-1 Class A-2-I Notes have not been paid in full, or the commitments with respect to the Series 2015-1 Class A-1 Notes have not been terminated, by Weekly Allocation Date with respect to the Weekly Collection Period that includes the Closing Date, the amount of the “Series 2015-1 Note Excess Funds” shall be deemed to be zero.
“Series 2017-1 Anticipated Repayment Date” has the meaning set forth in Section 3.6(b) of the Series 2017-1 Supplement.  For purposes of the Base Indenture, the “Series 2017-1 Anticipated Repayment Date” shall be deemed to be an “Anticipated Repayment Date”.
“Series 2017-1 Available Senior Notes Interest Reserve Account Amount” means, when used with respect to any date, the sum of (a) the amount on deposit in the Senior Notes Interest Reserve Account after giving effect to any withdrawals therefrom on such date with respect to the Series 2017-1 Senior Notes pursuant to Section 5.12 of the Base Indenture and (b) the undrawn face amount of any Interest Reserve Letters of Credit issued for the benefit of the Trustee for the benefit of the Senior Noteholders outstanding on such date after giving effect to any draws thereon on such date with respect to the Series 2017-1 Senior Notes pursuant to Section 5.12 of the Base Indenture.
“Series 2017-1 Class A-1 Administrative Agent” has the meaning set forth in the preamble to the Series 2017-1 Class A-1 Note Purchase Agreement. For purposes of the Base Indenture, the “Series 2017-1 Class A-1 Administrative Agent” shall be deemed to be a “Class A-1 Administrative Agent”
“Series 2017-1 Class A-1 Administrative Expenses” means, for any Weekly Allocation Date, the aggregate amount of any Administrative Agent Fees and Class A-1 Amendment Expenses then due and payable and not previously paid and, if the following Quarterly Payment Date is a Series 2017-1 Class A-1 Notes Renewal Date, the amount of any Class A-1 Extension Fees due and payable on such Quarterly Payment Date.  For purposes of the Base Indenture, the “Series 2017-1 Class A-1 Administrative Expenses” shall be deemed to be “Class A-1 Notes Administrative Expenses”.
“Series 2017-1 Class A-1 Advance” has the meaning set forth in the recitals to the Series 2017-1 Class A-1 Note Purchase Agreement.
“Series 2017-1 Class A-1 Advance Notes” has the meaning set forth in “Designation” in the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 Advance Request” has the meaning set forth under “Advance Request” in this Annex A.
“Series 2017-1 Class A-1 Allocated Payment Reduction Amount” has the meaning set forth in Section 2.05(b)(iv) of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Series 2017-1 Class A-1 Breakage Amount” has the meaning set forth under “Breakage Amount” in this Annex A.
 “Series 2017-1 Class A-1 Commitments” has the meaning set forth under “Commitments” in this Annex A.
 “Series 2017-1 Class A-1 Commitment Term” has the meaning set forth under “Commitment Term” in this Annex A.
“Series 2017-1 Class A-1 Distribution Account” means account no. 11880700 entitled “Citibank, N.A. f/b/o DB Master Finance LLC, Series 2017-1 – Series 2017-1 Distribution Account” maintained by the Trustee pursuant to Section 3.7(a) of the Series 2017-1 Supplement or any successor securities account maintained pursuant to Section 3.7(a) of the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 Distribution Account Collateral” has the meaning set forth in Section 3.7(b) of the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 Excess Principal Event” shall be deemed to have occurred if, on any date, the Series 2017-1 Class A-1 Outstanding Principal Amount exceeds the Series 2017-1 Class A-1 Notes Maximum Principal Amount.  
“Series 2017-1 Class A-1 Initial Advance” has the meaning set forth in Section 2.1(a) of the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 Initial Advance Principal Amount” means the aggregate initial outstanding principal amount of the Series 2017-1 Class A-1 Advance Notes corresponding to the aggregate amount of the Series 2017-1 Class A-1 Initial Advances made on the Series 2017-1 Closing Date pursuant to Section 2.1(a) of the Series 2017-1 Supplement, which is $0.
“Series 2017-1 Class A-1 Initial Aggregate Undrawn L/C Face Amount” means the aggregate initial outstanding principal amount of the Series 2017-1 Class A-1 L/C Note of the L/C Provider corresponding to the aggregate Undrawn L/C Face Amounts of the Letters of Credit issued on the Series 2017-1 Closing Date pursuant to Section 2.07 of the Series 2017-1 Class A-1 Note Purchase Agreement, which is $32,363,785.56.
“Series 2017-1 Class A-1 Initial Swingline Loan” has the meaning set forth in Section 2.1(b) of the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 Initial Swingline Principal Amount” means the aggregate initial outstanding principal amount of the Series 2017-1 Class A-1 Swingline Notes corresponding to the aggregate amount of the Swingline Loans made on the Series 2017-1 Closing Date pursuant to Section 2.06 of the Series 2017-1 Class A-1 Note Purchase Agreement, which is $0.
“Series 2017-1 Class A-1 Investor” has the meaning set forth under “Investor” in this Annex A.
“Series 2017-1 Class A-1 L/C Notes” has the meaning set forth in “Designation” in the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 L/C Obligations” has the meaning set forth under “L/C Obligations” in this Annex A.
“Series 2017-1 Class A-1 Noteholder” means the Person in whose name a Series 2017-1 Class A-1 Note is registered in the Note Register.
“Series 2017-1 Class A-1 Note Purchase Agreement” means the Class A-1 Note Purchase Agreement, dated as of October 23, 2017, by and among the Master Issuer, the Guarantors, the Manager, the Series 2017-1 Class A-1 Investors, the Series 2017-1 Class A-1 Noteholders and Rabobank, as administrative agent thereunder, pursuant to which the Series 2017-1 Class A-1 Noteholders have agreed to purchase the Series 2017-1 Class A-1 Notes from the Master Issuer, subject to the terms and conditions set forth therein, as amended, supplemented or otherwise modified from time to time.  For purposes of the Base Indenture, the “Series 2017-1 Class A-1 Note Purchase Agreement” shall be deemed to be a “Variable Funding Note Purchase Agreement”.
“Series 2017-1 Class A-1 Note Rate” means, for any day, (a) with respect to that portion of the Series 2017-1 Class A-1 Outstanding Principal Amount resulting from Series 2017-1 Class A-1 Advances that bear interest on such day at the CP Rate in accordance with Section 3.01 of the Series 2017-1 Class A-1 Note Purchase Agreement, the CP Rate in effect for such day; (b) with respect to that portion of the Series 2017-1 Class A-1 Outstanding Principal Amount resulting from Series 2017-1 Class A-1 Advances that bear interest on such day at the Eurodollar Rate in accordance with Section 3.01 of the Series 2017-1 Class A-1 Note Purchase Agreement, the Eurodollar Rate in effect for the Eurodollar Interest Accrual Period that includes such day; (c) with respect to that portion of the Series 2017-1 Class A-1 Outstanding Principal Amount resulting from Series 2017-1 Class A-1 Advances that bear interest on such day at the Base Rate in accordance with Section 3.01 of the Series 2017-1 Class A-1 Note Purchase Agreement, the Base Rate in effect for such day; (d) with respect to that portion of the Series 2017-1 Class A-1 Outstanding Principal Amount consisting of Swingline Loans or Unreimbursed L/C Drawings outstanding on such day, the Base Rate in effect for such day; and (e) with respect to any other amounts that any Related Document provides is to bear interest by reference to the Series 2017-1 Class A-1 Note Rate, the Base Rate in effect for such day; in each case, computed on the basis of a 360-day year (or, in the case of the Base Rate, 365 or 366, as applicable) and the actual number of days elapsed; provided, however, that the Series 2017-1 Class A-1 Note Rate will in no event be higher than the maximum rate permitted by applicable law.
“Series 2017-1 Class A-1 Notes” has the meaning set forth in “Designation” in the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 Notes Amortization Event” means the circumstance in which the Outstanding Principal Amount of the Series 2017-1 Class A-1 Notes is not paid in full or otherwise refinanced in full (which refinancing may also include an extension thereof) on or prior to the Series 2017-1 Class A-1 Notes Renewal Date.  For purposes of the Base Indenture, a “Series 2017-1 Class A-1 Notes Amortization Event” shall be deemed to be a “Class A-1 Notes Amortization Event”.
“Series 2017-1 Class A-1 Notes Amortization Period” means the period commencing on the date on which a Series 2017-1 Class A-1 Notes Amortization Event occurs and ending on the date on which there are no Series 2017-1 Class A-1 Notes Outstanding.  For purposes of the Base Indenture, a “Series 2017-1 Class A-1 Notes Amortization Period” shall be deemed to be a “Class A-1 Notes Amortization Period”.
“Series 2017-1 Class A-1 Notes Maximum Principal Amount” means, as of any time, the aggregate Commitment Amount provided under the Series 2017-1 Class A-1 Notes.
“Series 2017-1 Class A-1 Notes Renewal Date” means (i) the Quarterly Payment Date in November, 2022, (ii) if the date in clause (i) is extended at such time until the Quarterly Payment Date in November 2023, the Quarterly Payment Date in November 2023 and (iii) if the date in clause (ii) is extended at such time until the Quarterly Payment Date in November 2024, the Quarterly Payment Date in November 2024, in each case pursuant to Section 3.6(b) of this Series Supplement).  For purposes of the Base Indenture, the “Series 2017-1 Class A-1 Notes Renewal Date” shall be deemed to be a “Class A-1 Notes Renewal Date”.
“Series 2017-1 Class A-1 Outstanding Principal Amount” means, when used with respect to any date, an amount equal to (a) the Series 2017-1 Class A-1 Initial Advance Principal Amount, if any, minus (b) the amount of principal payments (whether pursuant to a Decrease, a prepayment, a redemption or otherwise) made on the Series 2017-1 Class A-1 Advance Notes on or prior to such date plus (c) any Increases in the Series 2017-1 Class A-1 Outstanding Principal Amount pursuant to Section 2.1 of the Series 2017-1 Supplement resulting from Series 2017-1 Class A-1 Advances made on or prior to such date and after the Series 2017-1 Closing Date plus (d) any Series 2017-1 Class A-1 Outstanding Subfacility Amount on such date; provided that at no time may the Series 2017-1 Class A-1 Outstanding Principal Amount exceed the Series 2017-1 Class A-1 Notes Maximum Principal Amount.  For purposes of the Base Indenture, the “Series 2017-1 Class A-1 Outstanding Principal Amount” shall be deemed to be an “Outstanding Principal Amount”.
“Series 2017-1 Class A-1 Outstanding Subfacility Amount” means, when used with respect to any date, the aggregate principal amount of any Series 2017-1 Class A-1 Swingline Notes and Series 2017-1 Class A-1 L/C Notes outstanding on such date (after giving effect to Subfacility Increases or Subfacility Decreases therein to occur on such date pursuant to the terms of the Series 2017-1 Class A-1 Note Purchase Agreement or the Series 2017-1 Supplement).
“Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest” means, for any Interest Accrual Period commencing on or after the Series 2017-1 Class A-1 Notes Renewal Date, an amount equal to the sum of the aggregate of the Daily Post-Renewal Date Contingent Interest Amounts for each day in such Interest Accrual Period.  For purposes of the Base Indenture, Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest shall be deemed to be “Senior Notes Quarterly Post-ARD Contingent Interest”. 
“Series 2017-1 Class A-1 Post-Renewal Date Contingent Interest Rate” has the meaning set forth in Section 3.4(c) of the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 Prepayment” means any prepayment in respect of the Series 2017-1 Class A-1 Notes.
“Series 2017-1 Class A-1 Subfacility Noteholder” means the Person in whose name a Series 2017-1 Class A-1 Swingline Note or Series 2017-1 Class A-1 L/C Note is registered in the Note Register.  
“Series 2017-1 Class A-1 Swingline Loan” has the meaning set forth under “Swingline Loan” in this Annex A.
“Series 2017-1 Class A-1 Swingline Notes” has the meaning set forth in “Designation” of the Series 2017-1 Supplement.
“Series 2017-1 Class A-1 VFN Fee Letter” means the Fee Letter, dated as of the Series 2017-1 Closing Date, by and among the Master Issuer, the Guarantors, the Manager, the Conduit Investors, the Committed Note Purchasers, the Funding Agents, the L/C Provider, the Swingline Lender, and the Administrative Agent, as the same may be amended, supplemented or otherwise modified from time to time pursuant to the terms thereof.  
“Series 2017-1 Class A-2 Distribution Account” means account no. 11880800 entitled “Citibank, N.A. f/b/o DB Master Finance LLC, Series 2017-1 – Series 2017-2 Distribution Account” maintained by the Trustee pursuant to Section 3.8(a) of the Series 2017-1 Supplement or any successor securities account maintained pursuant to Section 3.8(a) of the Series 2017-1 Supplement.
“Series 2017-1 Class A-2 Distribution Account Collateral” has the meaning set forth in Section 3.8(b) of the Series 2017-1 Supplement.
“Series 2017-1 Class A-2 Initial Principal Amount” means the aggregate initial outstanding principal amount of the Series 2017-1 Class A-2 Notes, which is $1,400,000,000.
“Series 2017-1 Class A-2 Make-Whole Prepayment Premium” means, with respect to a Series 2017-1 Class A-2 Prepayment, an amount (not less than zero) calculated by the Manager on behalf of the Master Issuer equal to (A) if such Series 2017-1 Class A-2 Prepayment occurs prior to the relevant Make-Whole End Date with respect to the applicable Tranche (i) the discounted present value as of the relevant Series 2017-1 Make-Whole Premium Calculation Date of all future installments of interest (excluding any interest required to be paid on the related Series 2017-1 Prepayment Date) on and principal of such Series 2017-1 Class A-2 Notes that the Master Issuer would otherwise be required to pay on such Series 2017-1 Class A-2 Notes (or such portion thereof to be prepaid), from the applicable Series 2017-1 Prepayment Date to and including the Make-Whole End Date with respect to such Tranche, assuming payments of Quarterly Scheduled Principal Amounts are made pursuant to the then-applicable schedule of payments (giving effect to any ratable reductions in the Quarterly Scheduled Principal Amounts due to optional and mandatory prepayments, including prepayments in connection with a Rapid Amortization Event and cancellations of repurchased Notes prior to the date of such repayment and assuming that Quarterly Scheduled Principal Amounts are to be made with respect to such Series 2017-1 Class A-2 Notes on each Quarterly Payment Date prior to such Make-Whole End Date; provided that no future prepayments are to be made in connection with a Rapid Amortization Event) and the entire remaining unpaid principal amount of the Series 2017-1 Class A-2 Notes or portion thereof is paid on such Make-Whole End Date minus (ii) the Outstanding Principal Amount of such Series 2017-1 Class A-2 Notes (or portion thereof) being prepaid or (B) if such Series 2017-1 Class A-2 Prepayment occurs on or after the Make-Whole End Date with respect to the applicable Tranche, zero.  For the purposes of the calculation of the discounted present value in clause (A)(i) above, such present value shall be determined by the Manager, on behalf of the Master Issuer, using a discount rate equal to the sum of:  (x) the yield to maturity (adjusted to a quarterly bond-equivalent basis), on the Series 2017-1 Make-Whole Premium Calculation Date, of the United States Treasury Security having a maturity closest to the relevant Make-Whole End Date plus (y) 0.50%.  For purposes of the Base Indenture, “Series 2017-1 Class A-2 Make-Whole Prepayment Premium” shall be deemed to be a “Prepayment Premium”, and shall be deemed to be “unpaid premiums and make-whole prepayment premiums” for purposes of the Priority of Payments. 
“Series 2017-1 Class A-2 Noteholder” means the Person in whose name a Series 2017-1 Class A-2 Note is registered in the Note Register.
“Series 2017-1 Class A-2 Note Purchase Agreement” means the Purchase Agreement, dated as of September 14, 2017 by and among Guggenheim Securities, LLC and Barclays Capital Inc., each on behalf of itself and as a representative of the Initial Purchasers, the Master Issuer, the Guarantors and the Manager, as amended, supplemented or otherwise modified from time to time.
“Series 2017-1 Class A-2 Note Rate” means (i) with respect to the Series 2017-1 Class A-2-I Notes, the Series 2017-1 Class A-2-I Note Rate and (ii) with respect to the Series 2017-1 Class A-2-II, the Series 2017-1 Class A-2-II Note Rate. 
“Series 2017-1 Class A-2-I Note Rate” means 3.629% per annum. 
“Series 2017-1 Class A-2-II Note Rate” means 4.030% per annum. 
“Series 2017-1 Class A-2 Notes” has the meaning specified in “Designation” of the Series 2017-1 Supplement.
“Series 2017-1 Class A-2 Outstanding Principal Amount” means, when used with respect to any date, an amount equal to (a) the Series 2017-1 Class A-2 Initial Principal Amount, minus (b) the aggregate amount of principal payments (whether a Quarterly Scheduled Principal Amount, a prepayment, a purchase and cancellation, a redemption or otherwise) made to Series 2017-1 Class A-2 Noteholders with respect to Series 2017-1 Class A-2 Notes on or prior to such date.  For purposes of the Base Indenture, the “Series 2017-1 Class A-2 Outstanding Principal Amount” shall be deemed to be an “Outstanding Principal Amount”.
“Series 2017-1 Class A-2 Prepayment” has the meaning set forth in Section 3.6(e) of the Series 2017-1 Supplement.
  “Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest” has the meaning set forth in Section 3.5(b)(i).  For purposes of the Base Indenture, Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest shall be deemed to be “Senior Notes Quarterly Post-ARD Contingent Interest”. 
“Series 2017-1 Class A-2 Quarterly Post-ARD Contingent Interest Rate” has the meaning set forth in Section 3.5(b)(i) of the Series 2017-1 Supplement.
“Series 2017-1 Class A-2 Scheduled Principal Prepayment Premium” means, with respect to any Optional Scheduled Principal Prepayment, an amount, calculated by the Manager on behalf of the Master Issuer, equal to: (i) the sum of the discounted present values as of the applicable Scheduled Principal Prepayment Date of (A) all future installments of interest on what would otherwise be required to be paid on each Quarterly Scheduled Principal Amount being prepaid, from the Scheduled Principal Prepayment Date to and including each Quarterly Payment Date on which such Quarterly Scheduled Principal Amounts were otherwise due (“Scheduled Principal Payment Due Date”) and (B) each Quarterly Scheduled Principal Amount that would otherwise be required to be paid on the Scheduled Principal Payment Due Date minus (ii) the sum of Quarterly Scheduled Principal Amounts being prepaid.  The discount rates for the purposes of clause (i) above will equal the sum of: (x) the yields to maturity (adjusted to a quarterly bond-equivalent basis), determined as of a date no more than five (5) Business Days prior to the Scheduled Principal Prepayment Date, of the United States Treasury Securities having maturities closest to each applicable Scheduled Principal Payment Due Date plus (y) 0.50%.  For purposes of the Base Indenture, “Series 2017-1 Class A-2 Scheduled Principal Prepayment Premium” shall be deemed to be a “Prepayment Premium”, and shall be deemed to be “unpaid premiums and make-whole prepayment premiums” for purposes of the Priority of Payments.  
“Series 2017-1 Closing Date” means October 23, 2017.  For purposes of the Base Indenture the Series 2017-1 Closing Date shall be deemed a “Series Closing Date”.
“Series 2017-1 Distribution Accounts” means, collectively, the Series 2017-1 Class A-1 Distribution Account and the Series 2017-1 Class A-2 Distribution Account.  For purposes of the Base Indenture, the Series 2017-1 Distribution Accounts shall be deemed to be “Series Distribution Accounts”. 
“Series 2017-1 Extension Elections” means, collectively, the Series 2017-1 First Extension Election and the Series 2017-1 Second Extension Election.
“Series 2017-1 Final Payment” means the payment of all accrued and unpaid interest on and principal of all Outstanding Series 2017-1 Notes, the expiration or cash collateralization in accordance with the terms of the Series 2017-1 Class A-1 Note Purchase Agreement of all Undrawn L/C Face Amounts (after giving effect to the provisions of Section 4.04 of the Series 2017-1 Class A-1 Note Purchase Agreement), the payment of all fees and expenses and other amounts then due and payable under the Series 2017-1 Class A-1 Note Purchase Agreement and the termination in full of all Series 2017-1 Class A-1 Commitments.
“Series 2017-1 Final Payment Date” means the date on which the Series 2017-1 Final Payment is made.
“Series 2017-1 First Extension Election” has the meaning set forth in Section 3.6(b)(i) of the Series 2017-1 Supplement.
“Series 2017-1 Global Notes” means, collectively, the Regulation S Global Notes and the Rule 144A Global Notes.
“Series 2017-1 Ineligible Account” has the meaning set forth in Section 3.11 of the Series 2017-1 Supplement.
“Series 2017-1 Interest Reserve Release Amount” means, as of any Quarterly Calculation Date, the excess, if any, of (i) the Series 2017-1 Available Senior Notes Interest Reserve Account Amount over (ii) the Series 2017-1 Senior Notes Interest Reserve Amount for the immediately following Quarterly Payment Date.
“Series 2017-1 Interest Reserve Release Event” means (i) the Manager provides a certification to the Trustee on any Quarterly Calculation Date that the Series 2017-1 Available Senior Notes Interest Reserve Account Amount will exceed the Series 2017-1 Senior Notes Interest Reserve Amount required to be on deposit on the succeeding Quarterly Payment Date or (ii) any reduction in either (A) the Outstanding Principal Amount of the Series 2017-1 Class A-2 Notes or (B) the Series 2017-1 Class A-1 Notes Maximum Principal Amount; provided that immediately after giving effect to any withdrawal of funds from the Senior Notes Interest Reserve Account pursuant to Section 5.10(f)(vii) of the Base Indenture in connection with such Series 2017-1 Interest Reserve Release Event, there shall be no Senior Notes Interest Reserve Account Deficiency Amount outstanding. The provision of the Quarterly Noteholder's Report by the Manager shall be deemed to satisfy clause (i) of this definition. For purposes of the Base Indenture, the “Series 2017-1 Interest Reserve Release Event” shall be deemed to be an “Interest Reserve Release Event”.
 “Series 2017-1 Legal Final Maturity Date” means the Quarterly Payment Date occurring in November 2047.  For purposes of the Base Indenture, the “Series 2017-1 Legal Final Maturity Date” shall be deemed to be a “Series Legal Final Maturity Date”.
“Series 2017-1 Make-Whole Premium Calculation Date” has the meaning set forth in Section 3.6(g) of the Series 2017-1 Supplement.
“Series 2017-1 Non-Amortization Test” means a test that will be satisfied on any Quarterly Payment Date up to and including the Series 2017-1 Anticipated Repayment Date, as applicable, only if the DBI Leverage Ratio is less than or equal to 5.00x as calculated on the Quarterly Calculation Date immediately preceding such Quarterly Payment Date.  For purposes of the Base Indenture, the “Series 2017-1 Non-Amortization Test” shall be deemed to be a “Series Non-Amortization Test”.
“Series 2017-1 Noteholders” means, collectively, the Series 2017-1 Class A-1 Noteholders and the Series 2017-1 Class A-2 Noteholders.
 “Series 2017-1 Note Owner” means, with respect to a Series 2017-1 Note that is a Book-Entry Note, the Person that is the beneficial owner of such Book-Entry Note, as reflected on the books of the Clearing Agency that holds such Book-Entry Note, or on the books of a Person maintaining an account with such Clearing Agency (directly or as an indirect participant, in accordance with the rules of such Clearing Agency).
“Series 2017-1 Notes” means, collectively, the Series 2017-1 Class A-1 Notes and the Series 2017-1 Class A-2 Notes.
“Series 2017-1 Outstanding Principal Amount” means, with respect to any date, the sum of the Series 2017-1 Class A-1 Outstanding Principal Amount, plus the Series 2017-1 Class A-2 Outstanding Principal Amount.  
“Series 2017-1 Prepayment” means a Series 2017-1 Class A-1 Prepayment, a Series 2017-1 Class A-2 Prepayment or any other prepayment pursuant to Section 3.6(j) of this Series Supplement, as applicable.  
“Series 2017-1 Prepayment Amount” means the aggregate principal amount of the applicable Class of Notes to be prepaid on any Series 2017-1 Prepayment Date, together with all accrued and unpaid interest thereon to such date.
“Series 2017-1 Prepayment Date” means the date on which any prepayment on the Series 2017-1 Class A-1 Notes or the Series 2017-1 Class A-2 Notes is made pursuant to Section 3.6(d)(i), Section 3.6(d)(ii), Section 3.6(f)(i) or Section 3.6(j) of this Series Supplement, which shall be, with respect to any Series 2017-1 Prepayment pursuant to Section 3.6(f)(i) of this Series Supplement, the date specified as such in the applicable Prepayment Notice and, with respect to any Series 2017-1 Prepayment in connection with a Rapid Amortization Period or Asset Disposition Proceeds, the immediately succeeding Quarterly Payment Date.
“Series 2017-1 Second Extension Election” has the meaning set forth in Section 3.6(b)(ii) of the Series 2017-1 Supplement.
“Series 2017-1 Securities Intermediary” has the meaning set forth in Section 3.9(a) of the Series 2017-1 Supplement.
“Series 2017-1 Senior Noteholders” means, collectively, the Series 2017-1 Class A-1 Noteholders and the Series 2017-1 Class A-2 Noteholders.
“Series 2017-1 Senior Notes” means, collectively, the Series 2017-1 Class A-1 Notes and the Series 2017-1 Class A-2 Notes.
“Series 2017-1 Senior Notes Interest Reserve Amount” means, with respect to any Quarterly Payment Date (and any Weekly Allocation Date related thereto), an amount equal to the Series 2017-1 Senior Notes Quarterly Interest Amount due on the next Quarterly Payment Date (assuming that amounts available under the Series 2017-1 Class A-1 Note Purchase Agreement at such time (after giving effect to any commitment reductions on such date) are fully drawn).
“Series 2017-1 Senior Notes Quarterly Interest Amount” means, with respect to each Quarterly Payment Date beginning with the Quarterly Payment Date in February 2018, the aggregate amount of Senior Notes Accrued Quarterly Interest Amounts with respect to the related Interest Accrual Period, on the Series 2017-1 Notes (other than any Senior Notes Quarterly Post-ARD Contingent Interest); provided that any amount deemed to be “Senior Notes Quarterly Post-ARD Contingent Interest”, “Series 2017-1 Class A-1 Notes Administrative Expenses”, “Class A-1 Notes Other Amounts”, or “Class A-1 Quarterly Commitment Fee Amount” for purposes of the Base Indenture shall under no circumstances be deemed to constitute part of the “Series 2017-1 Senior Notes Quarterly Interest Amount”.  For purposes of the Base Indenture, the “Series 2017-1 Senior Notes Quarterly Interest Amount” shall be deemed to be a “Senior Notes Quarterly Interest Amount”. For purposes of calculating the DSCR only, the Series 2017-1 Senior Notes Quarterly Interest Amount shall be divided between the Quarterly Payment Date in November 2017 and the Quarterly Payment Date in February 2018 as follows: (x) for the Quarterly Payment Date in November 2017, an amount equal to the Series 2017-1 Senior Notes Quarterly Interest Amount that would be payable on the Quarterly Payment Date in November 2017 assuming a 27-day initial Interest Accrual Period for the Series 2017-1 Class A-2 Notes and a 22-day initial Interest Accrual Period for the Series 2017-1 Class A-1 Notes and (y) for the Quarterly Payment Date in February 2018, an amount equal to the Series 2017-1 Senior Notes Quarterly Interest Amount that would be payable on the Quarterly Payment Date in February 2018 assuming a 90-day Interest Accrual Period for the Series 2017-1 Class A-2 Notes and a 92-day Interest Accrual Period for the Series 2017-1 Class A-1 Notes.
 “Series 2017-1 Supplement” means the Series 2017-1 Supplement, dated as of the Series 2017-1 Closing Date by and among the Master Issuer, the Trustee and the Series 2017-1 Securities Intermediary, as amended, supplemented or otherwise modified from time to time.
“Series 2017-1 Supplemental Definitions List” has the meaning set forth in Article I of the Series 2017-1 Supplement.
“Similar Law” means any federal, state, local, or non-U.S. law that is substantially similar to the provisions of Section 406 of ERISA or Section 4975 of the Code.
“Specified Rating Agencies” means any of S&P Global Ratings, Moody’s or Fitch, as applicable.
“STAMP” has the meaning set forth in Section 4.3(a) of the Series 2017-1 Supplement.
“Subfacility Decrease” has the meaning set forth in Section 2.2(d) of the Series 2017-1 Supplement.
“Subfacility Increase” has the meaning set forth in Section 2.1(b) of the Series 2017-1 Supplement.
“Swingline Commitment” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Swingline Lender” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Swingline Loan Request” has the meaning set forth in Section 2.06(b) of the Series 2017-1 Class A-1 Note Purchase Agreement. 
“Swingline Loans” has the meaning set forth in Section 2.06(a) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Swingline Participation Amount” has the meaning set forth in Section 2.06(f) of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Temporary Regulation S Global Notes” has the meaning set forth in Section 4.2(b) of the Series 2017-1 Supplement.
“Tranche” means each of (i) the Series 2017-1 Class A-2-I Notes and (ii) the Series 2017-1 Class A-2-II Notes.  For purposes of the Base Indenture, each of the Series 2017-1 Class A-2-I Notes and the Series 2017-1 Class A-2-II Notes shall be deemed to be a “Tranche” of the Class A-2 Notes. 
“Tranche Percentage” means, with respect to any date of determination, (i) with respect to the Tranche consisting of the Series 2017-1 Class A-2-I Notes, the quotient of the Outstanding Principal Amount of the Series 2017-1 Class A-2-I Notes divided by the Outstanding Principal Amount of the Series 2017-1 Class A-2 Notes, and (ii) with respect to the Tranche consisting of the Series 2017-1 Class A-2-II Notes, the quotient of the Outstanding Principal Amount of the Series 2017-1 Class A-2-II Notes divided by the Outstanding Principal Amount of the Series 2017-1 Class A-2 Notes.
“Transaction Party” means any of the Master Issuer, a Guarantor, an Initial Purchaser or any other party to the offering of the Series 2017-1 Class A-2 Notes.
“Undrawn Commitment Fees” has the meaning set forth in Section 3.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Undrawn L/C Face Amounts” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“Unreimbursed L/C Drawings” has the meaning set forth in Section 1.02 of the Series 2017-1 Class A-1 Note Purchase Agreement.
“U.S. Person” has the meaning set forth in Section 4.2 of the Series 2017-1 Supplement.
“Voluntary Decrease” has the meaning set forth in Section 2.2(b) of the Series 2017-1 Supplement.

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