Document:

Agreement relating to the Sale and Purchase of Monument Business

 Exhibit 10.1 
  

			
	DATED	  	4TH APRIL 2007

 BARCLAYS BANK PLC 
 - and - 
 COMPUCREDIT UK LIMITED 
 - and - 
 COMPUCREDIT INTERNATIONAL ACQUISITION CORPORATION 
 - and - 
 COMPUCREDIT SERVICES CORPORATION 
  
 AGREEMENT 
 RELATING TO

 THE SALE AND PURCHASE OF 
 MONUMENT BUSINESS 
 Lovells 

 CONTENTS 
  

					
	 CLAUSE
	  	Page
	 1.
	  	INTERPRETATION	  	1
	 2.
	  	SALE AND PURCHASE	  	13
	 3.
	  	PURCHASE PRICE AND PAYMENT	  	15
	 4.
	  	PRE-COMPLETION MATTERS	  	16
	 5.
	  	COMPLETION	  	20
	 6.
	  	POST-CREDIT CARD COMPLETION MATTERS	  	24
	 7.
	  	REIMBURSEMENT AND POST CLOSING PAYMENTS	  	26
	 8.
	  	VAT	  	28
	 9.
	  	WARRANTIES	  	29
	 10.
	  	LIMITATION ON CLAIMS	  	30
	 11.
	  	ASSUMPTION OF ASSUMED LIABILITIES AND APPORTIONMENT OF BUSINESS
RESPONSIBILITY	  	30
	 12.
	  	EMPLOYEES	  	34
	 13.
	  	POST COMPLETION COVENANTS	  	38
	 14.
	  	CONFIDENTIALITY	  	42
	 15.
	  	ANNOUNCEMENTS	  	43
	 16.
	  	FURTHER ASSURANCE AND AVAILABILITY OF INFORMATION	  	43
	 17.
	  	PROPERTY AND CAPITAL ALLOWANCES	  	44
	 18.
	  	PENSIONS	  	45
	 19.
	  	ASSIGNED CONTRACTS	  	45
	 20.
	  	SUCCESSORS AND ASSIGNMENT	  	46
	 21.
	  	NOTICES	  	47
	 22.
	  	ENTIRE AGREEMENT AND VARIATION	  	49
	 23.
	  	GENERAL PROVISIONS	  	49
	 24.
	  	GUARANTEES	  	50
	 25.
	  	GOVERNING LAW, JURISDICTION AND SERVICE OF PROCESS	  	52
	 26.
	  	DESIGNEE	  	53
	 27.
	  	PURCHASERS’ LIABILITY JOINT AND SEVERAL	  	53
		
	 SCHEDULES
	  	
			
	 1.
	  	PURCHASE PRICE	  	
		  	PART A: ALLOCATION	  	
		  	PART B: REVIEWING THE SIGNING STATEMENT	  	
		  	PART C: FORM OF SIGNING STATEMENT	  	
	 2.
	  	WARRANTIES	  	
	 3.
	  	PURCHASERS’ WARRANTIES	  	
	 4.
	  	SELLER’S KNOWLEDGE	  	
	 5.
	  	DOMAIN NAMES	  	

					
	 6.
	 	PROPERTY	  	
		 	PART A: THE PROPERTY	  	
		 	PART B: TERMS APPLICABLE TO THE PROPERTY	  	
		 	PART C:TERMS APPLICABLE TO THE PROPERTY SUBLEASE	  	
		 	PART D: DILAPIDATIONS CLAIMS UNDER THE PROPERTY LEASE	  	
	 7.
	 	PENSION PROVISIONS	  	
	 8.
	 	CONTRACTS	  	
		 	PART A: ASSIGNED CONTRACTS	  	
		 	PART B: MATERIAL CONTRACTS	  	
	 9.
	 	FORM OF SECTION 198 ELECTION	  	
	 10.
	 	GUIDELINES FOR DETERMINING TRANCHE B ACCOUNTS	  	
	 11.
	 	INFRASTRUCTURE ASSETS	  	
		 	PART A: OTHER ASSETS	  	
		 	PART B: INFORMATION TECHNOLOGY INFRASTRUCTURE ASSETS	  	
	 12.
	 	REFUND POLICY	  	
	 13.
	 	SIGNING STATEMENT PROCEDURES	  	
	 14.
	 	LIMITATIONS ON CLAIMS	  	
	 15.
	 	UNENFORCEABILITY ALLEGATIONS	  	
	 16.
	 	EMPLOYMENT MATTERS	  	

  

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 DOCUMENTS IN THE AGREED TERMS

 Index of Disclosure Documents 
 Legal Assignment of Assets
(clause 2.5) 
 Declaration of Trust (clauses 2.5 and 5.2(c)) 
 Pre-Signing Statement (clause 4.1) 
 Notices of Assignment (clause 5.2(b)) 
 Assignment of the Monument Credit Card Intellectual Property (clause 5.3(b)(i)) 
 Licence Back (clause 5.3(b)(ii))

 Letter to Bank of America, CompuCredit Corporation and Raphael Bank (clause 5.3(b)(iv)) 
 Assignments or novations of Assigned Contracts (clause 5.5(d)) 
 Assignment of the Monument Infrastructure Intellectual
Property (clause 5.5(i)) 
 Letter to Seller from CompuCredit Corporation (clause 5.7(b)(iv)) 
 Notice to Cardholders (clause 6.1) 
 Measures Letter (clause 12.14) 
 Announcements (clause 15) 
  

 - 3 - 

			
	THIS AGREEMENT is made on	  	4th April
             2007

 BETWEEN: 
  

	(1)	Barclays Bank PLC, a company incorporated in England and Wales with registered number 01026167 whose registered office is at 1 Churchill Place London E14 5HP (the
“Seller”); 

  

	(2)	CompuCredit UK Limited, a company incorporated in England and Wales with number 6032187 whose registered office is at c/o Allen & Overy LLP, One Bishops Square,
London E1 6AO (“CompuCredit UK “); 

  

	(3)	CompuCredit International Acquisition Corporation, a company incorporated in Nevada, USA, with number E0041862007-2 whose registered office is at Suite 850-33A, 101
Convention Center Drive, Las Vegas, Nevada 89109, USA (“CCIA”); and 

  

	(4)	CompuCredit Services Corporation, a company incorporated in Nevada, with number C21445-1998 whose registered office is at Suite 850-33A, 101 Convention Center Drive, Las
Vegas, Nevada 89109, USA (the “Guarantor”). 

 RECITALS: 
  

	(A)	The Seller has agreed to sell the Assets and to transfer the Business to the Purchasers (or in respect of CCIA to Raphael Bank as CCIA’s designee) and the Purchasers have
agreed to purchase (or, in respect of CCIA, to procure the acquisition by Raphael Bank as CCIA’s designee of) the Assets and the Business on and subject to the terms of this Agreement. 

  

	(B)	CCIA has agreed to guarantee the obligations of CompuCredit UK contained in this Agreement and the Guarantor has agreed to guarantee the obligations of the Purchasers contained in
this Agreement on the terms set out in clause 24. 

  

	(C)	CCIA intends to designate Raphael Bank to acquire certain of the Credit Card Assets. 

 IT IS AGREED: 
  

	1.	INTERPRETATION 

  

	1.1	In this Agreement: 

 “Affiliate” means,
with respect to any person, corporation or entity, any other person, corporation or entity that directly or indirectly controls, is controlled by or is under common control with such person, corporation or entity. For the purposes of this
definition, “control” shall mean the power to direct the management and policies of a person, directly or indirectly, whether through the ownership of voting, securities, by contract or otherwise; and the terms “common control”
and “controlled” have meanings correlative to the foregoing; 
 “Applicable Laws” means all applicable by-laws,
rules, statutes, regulations (including any applicable regulations or requirements of the FSA or any other relevant regulator having jurisdiction with respect to the Business), voluntary codes of practice including orders, ordinances, protocols,
codes, guidelines, tax treaties, policies, notices, directions and judgments or other requirements of any Governmental Authority; 
 “Assets” means collectively the Credit Card Assets and the Infrastructure Assets to be sold and purchased under this Agreement and includes (where the context permits) each or any of the Assets; 
  

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 “Assigned Contracts” means the contracts listed or referred to in Part A of Schedule 8;

 “Assignment Date” means the date which is 10 days after the notices referred to in clause 6.1 have been posted to
Cardholders in accordance with such clause; 
 “Assumed Liabilities” has the meaning given in clause 11.1; 

“Authorised Guarantee Agreement” has the meaning given in clause 5.5 of the Property Lease; 
 “Barclays Data Warehouse” means the database holding account level data on all Monument branded accounts; 
 “BIN” means the 426565, 426566 and 426567 bank identification numbers issued by Visa to the Seller and which the Seller currently uses in
connection with the Business; 
 “Bonus Cap” means, in relation to Transferring Employees, an amount equal to the Bonus Cap
Percentage multiplied by the total annual salary entitlement of such employees pro-rated to reflect the period from the beginning of the bonus accrual period in question up to and including the relevant Services Assumption Date; 
 “Bonus Cap Percentage” means the greater of 12 per cent. and the percentage of annual salaries paid to staff employed in the
Business located at the Property by way of bonus in respect of the calendar year 2006; 
 “Business” means the business of
the Seller consisting of the origination and administration of the Sale Accounts (including that part of the business transferred to the Seller by the Predecessor); 
 “Business Day” means a day (other than a Saturday or a Sunday) on which banks are open for business in London; 
 “Cardholder” means a person who has entered into a Cardholder Agreement; 
 “Cardholder Agreement” means an agreement regulated by the CCA under which a Credit Card has been or is in the course of being issued or re-issued by the Seller or a Predecessor to a Cardholder and containing the terms and
conditions of the relevant Sale Account; 
 “Cardholder Payments” means the payments made by or on behalf of Cardholders in
accordance with the terms of their Cardholder Agreements; 
 “Card Scheme Association” means Visa International Services
Association and any other Visa entities as appropriate; 
 “Card Scheme Rules” means the operating rules, by-laws and
regulations of the Card Scheme Association which are applicable to its credit card programme; 
 “Category 1 Claim” means a
claim for a breach of any Category 1 Warranty and/or a Claim for breach of any of the covenants of the Seller set out in clause 4 of this Agreement; 
 “Category 1 Warranties” means Warranties A, B.1, B.4, B.8, B.10 and/or O and “Category 1 Warranty” means any of them; 
 “Category 2 Claim” means a claim for a breach of a Category 2 Warranty; 
 “Category
2 Warranties” means Warranties C.1, C.2, C.3, C.4, D.2, D.3, D.4, D.5, E.4, E.5, K.5 and/or N and a “Category 2 Warranty” means any of them; 
  

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 “Category 3 Claims” means all Warranty Claims other than (i) Category 1 Claims; and
(ii) Category 2 Claims; 
 “CCA” means the Consumer Credit Act 1974; 
 “Charged-Off Account” means a Sale Account which has been charged off by the Seller in accordance with its applicable policy as at the
Cut-Off Time; 
 “Claim” means any claim arising under this Agreement; 
 “Closing Master File Tape” means the TSYS master file tape prepared as at Credit Card Completion and containing account level data for
the Sale Accounts only for the period from 28 February 2007 to the date of Credit Card Completion; 
 “Completion” means
completion of the sale and purchase of the Business and the Infrastructure Assets (other than the Information Technology Infrastructure Assets) pursuant to this Agreement in accordance with its terms; 
 “Completion Date” means 1 June 2007 or such later date as notified by CCIA to the Seller in accordance with clause 5.14; 

“Contracts” means all contracts and engagements (other than (a) the Property Lease; (b) the contracts of employment with the
Transferring Employees; and (c) the Cardholder Agreements) entered into or orders made before Credit Card Completion by or on behalf of the Seller with third parties in connection with the Business which remain (in whole or in part) to be
performed at Credit Card Completion including all orders and contracts for the manufacture, sale or purchase of goods or provision or supply of services or for the hire purchase, credit sale, leasing or license of goods or services, or the licensing
of Intellectual Property Rights and including, in particular, the Assigned Contracts and the Material Contracts; 
 “Conversion
Plan” means the plan developed by the parties as set out in the Transitional Services Agreement; 
 “Copy Records”
means a copy of or relevant extracts from the books, records, documents and other information relating to the Assets, the Cardholders and the Sale Accounts in each case relating primarily to or which contains information which is material to all
or any part of the Business, including as to its future operation, or to any Asset maintained or controlled by or on behalf of any Seller’s Group Company and which are in any Seller’s Group Company’s possession, custody or control or
held on its behalf and does not relate to a Cardholder solely in their capacity as a customer of any Seller’s Group Company other than in their capacity as a Cardholder but excluding the Records, the Customer Data and Files, the Signing Date
Account List and the sale and purchase agreement relating to the purchase of certain Sale Accounts by the Seller from Providian National Bank (together with the related documents which, together with such agreement, comprise the contractual
arrangements between the Seller and Providian National Bank relating to such purchase); 
 “Covered Accounts” has the meaning
given in clause 7.1; 
 “Credit Card” means a card which has been issued or re-issued for use in connection with a Sale
Account; 
 “Credit Card Account” means the account which records the amount owed by each Cardholder under his or her
Cardholder Agreement; 
  

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 “Credit Card Assets” means collectively those assets described in clauses 2.1 and 2.2 to
be sold and purchased under this Agreement and includes (where the context permits) each or any of them; 
 “Credit Card
Completion” means completion of the sale and purchase of the Credit Card Assets pursuant to this Agreement in accordance with its terms; 
 “Credit Card Credit Balance” means any amount owing by the Seller to a Cardholder on a Sale Account as at the Cut-Off Time; 
 “Credit Card Purchase Price” means the amount which equals the Purchase Price minus the Monument Assets Consideration; 
 “Credit Card Stock” means the stock of plastic cards owned by the Seller which are branded with the Trade Mark; 
 “Customer Data and Files” means collectively, all data, files and information (whether current or historic) relating to Cardholders, Sale Accounts and the operation of the Business, including all
(i) applications for Credit Cards and other account opening information (whether pending or historical), including details of anti-money laundering checks; (ii) credit reports, credit records, application scores, behaviour scores,
delinquency status; (iii) monthly account statements; (iv) credit and account information and history; and (v) credit bureau data captured during account origination, in each case whether stored electronically or in hard copy and
whether in aggregate form or segregated by Cardholder identity, document or record type but only to the extent that such data, files and information are in any Seller’s Group Company’s possession, custody or control or held on its behalf
and does not relate to a Cardholder solely in their capacity as a customer of any Seller’s Group Company other than in their capacity as a Cardholder; 
 “Cut-Off Time” means 23.59.59 p.m. on the date of this Agreement; 
 “Daily
Settlement Amount” means, as from the Cut-Off Time, the amount payable each day to the Card Scheme Association in respect of the Credit Cards (including any fraudulent use of those Credit Cards); 
 “Data Extracts” means the computer generated files prepared as at 31 October 2006, 31 December 2006, 31 January 2007 and
28 February 2007 containing monthly account level data for the period from January 2004 to February 2007 contained on the CD-Roms initialled for identification by or on behalf of the Seller and the Purchasers; 
 “Data Protection Legislation” means the Data Protection Act 1998, the Privacy and Electronic Communications (EC Directive) Regulations
2003, Part 1 of the Regulation of Investigatory Powers Act 2000 and equivalent legislation in any other relevant jurisdictions; 
 “Data Warehouse Database” means the database to be built pursuant to the Data Segregation Plan (as that term is defined in the Transitional Services Agreement) containing the Customer Data and Files; 
 “Declaration of Trust” means the declaration of trust by Barclays in respect of certain Credit Card Assets in favour of Raphael Bank as
CCIA’s designee in the agreed terms; 
 “Direct Debiting Scheme Rules” means the direct debiting scheme operated by
members of the Association for Payment Clearing Services as amended from time to time or any scheme which replaces it; 
  

 - 4 - 

 “Disagreement Notice” has the meaning given in paragraph Error! Reference source not
found. of Part B of Schedule 1; 
 “Disclosure Documents” means the 43 files of documents as set out in the index in the
agreed terms attached to the Disclosure Letter; 
 “Disclosure Letter” means the letter of the same date as the date of this
Agreement from the Seller to the Purchasers referred to in clause 9.3; 
 “Domain Names” mean the list of domain names set
out in Schedule 5; 
 “Draft Signing Statement” has the meaning given in clause 3.7; 
 “Due Diligence Data” means the Data Extracts, the Master File Tapes and the Pro-Forma Historic File; 
 “Employment Information” means in relation to each Transferring Employee, a list of their names and full or accurate details concerning
his or her employee number, age or date of birth, date of commencement of employment and, if different, date of continuous employment, location, temporary or permanent or fixed term status, if fixed term status the date on which employment is to
end, notice period, grade, remuneration, bonus, commission or other form of profit sharing (whether contractual or discretionary, and in case identified as such), holiday entitlement, sick pay entitlement, life assurance, medical insurance,
permanent health insurance, pension membership by scheme (including but not limited to his or her membership type, employer and employee contribution rates for each scheme), entitlement under any incentive plan involving securities or which is
securities based, any current disciplinary or grievance procedure taken against him or her, any court or tribunal case, claim or action brought by him or her against the Seller within the previous two years or which the Seller has reasonable grounds
to believe that he or she may bring against CompuCredit UK arising out of his or employment with the Seller and any collective agreement which will have effect after his or transfer to CompuCredit UK in relation to him or her; 
 “Encumbrance” means any mortgage, claim, charge (fixed or floating), pledge, lien, equity, option, right to acquire, right of
pre-emption, assignment, hypothecation, security interest, title retention, other similar third party right, or any agreement to create any of the foregoing; 
 “Estimated Purchase Price” means £388,741,750; 
 “Excluded Accounts”
means each Credit Card Account that meets one or more of the following criteria as of the Cut-Off Time: 
  

	 	(a)	any account that is the subject of a dispute as to the validity, enforceability or existence of the account, or the underlying Cardholder Agreement, which dispute has either been
notified to the Seller in writing or is recorded in the Seller’s records as of the Cut-Off Time; 

  

	 	(b)	any Charged-Off Account or any account which should have been a Charged-Off Account as at the Cut-Off Time if the Policies and Procedures had been correctly applied;

  

	 	(c)	any account which is the subject of litigation, other than accounts that are in litigation solely as a result of legal collection initiated by the Seller but which are not
Charged-Off Accounts; 

  

	 	(d)	any account the Cardholder of which does not have an address located in the United Kingdom; 

  

 - 5 - 

	 	(e)	any account on which the first payment has become due and payable and the Cardholder has never made a payment; 

  

	 	(f)	any account which has been re-aged otherwise than in accordance with the Policies and Procedures (but excluding for these purposes any accounts which have been re-aged incorrectly
as a result of a conversion from one system of record to another as set out in the second paragraph of pages 6 and 7 of the Disclosure Letter) provided that such accounts will only be excluded if the aggregate Pre-Signing Receivables on such
accounts exceeds £125,000; 

  

	 	(g)	any test accounts opened or maintained by the Seller with respect to the Card Scheme Association system for verification or other internal purposes; 

  

	 	(h)	any account for which the related Obligor has pledged assets or made a cash collateral deposit as full or partial security for payment of the Pre-Signing Receivables arising in such
account, which assets or deposits are held by the Seller as of Credit Card Completion; 

  

	 	(i)	any account, (i) the Cardholder in respect of which is dead; or (ii) the Cardholder in respect of which has filed for bankruptcy; or (iii) the Cardholder in respect
of which has had an individual voluntary arrangement approved by the Seller; or (iv) which has been originated by fraud or fraudulent action, in each case on or before the Cut-Off Time; and/or 

  

	 	(j)	any account which is not a Tranche B Account or a Tranche C Account; 

 “Excluded Accounts Customer Data” means collectively, data for the period from origination to Credit Card Completion, relating to all Excluded Accounts (other than Tranche A Accounts) and Charged-Off
Accounts, setting out the following information but excluding any Personal Data and instead referenced to the relevant account number: all (i) credit reports, credit records, application scores, behaviour scores, delinquency status and
(ii) credit and account information and history, including all up to date credit reference agency information relating to each such account, but only to the extent that such data is in any Seller’s Group Company’s possession, custody
or control or held on its behalf and does not relate to a holder of an Excluded Account or Charged-Off Account solely in their capacity as a customer of any Seller’s Group Company other than in their capacity as a cardholder of a Monument
branded account; 
 “Final Completion” means completion of the sale and purchase of the Information Technology Infrastructure
Assets pursuant to this Agreement in accordance with its terms; 
 “Final Completion Date” means 31 March 2008, or such
earlier date as agreed in writing between the Seller and the Purchasers; 
 “Fixtures” has the meaning set out in clause
17.2; 
 “FSA” means the United Kingdom’s Financial Services Authority or its successor body from time to time;

 “Goodwill” means the goodwill associated with the Business, the right of the Seller to use the Trade Mark in relation to
the Business and the exclusive right of the Purchasers to represent themselves as carrying on the Business in succession to the Seller; 
 “Governmental Authority” means any government, regulatory authority, governmental department, agency, commission, board, tribunal, crown corporation, or court or other law, rule or regulation-making entity having
jurisdiction on behalf of the United Kingdom or any part or subdivision thereof or any local authority, district or other subdivision thereof; 
  

 - 6 - 

 “HMRC” means Her Majesty’s Revenue and Customs; 
 “ICTA 1988” means the Income and Corporation Taxes Act 1988; 
 “include” means include without limitation and “including” means including without limitation; 
 “Independent Accountant” means a firm of chartered accountants appointed jointly by the Seller and CCIA or, if they fail to agree an
appointee within seven Business Days of either first proposing such a person by notice to the other, to be appointed on the application of either party by the President or other senior officer for the time being of the Institute of Chartered
Accountants in England and Wales; 
 “Indemnified Party” has the meaning given in clause 13.5; 
 “Indemnifying Party” has the meaning given in clause 13.5; 
 “Information Technology Infrastructure Assets” means those assets listed in Part B of Schedule 11; 
 “Information Technology Infrastructure Assets Apportionment Statement” means the statement to be prepared pursuant to clause 11.10; 
 “Infrastructure Assets” means collectively the assets described in clause 2.3 to be sold and purchased under this Agreement and includes (where the context permits) each or any of them; 
 “Infrastructure Assets Apportionment Statement” means the statement to be prepared pursuant to clause 11.5; 
 “Infrastructure Warranties” means Warranties A.1, A.4, F.1, H.1 to H.7, I.1, I.2, I.4, J.1, J.2, J.6, J.7, J.8, J.9, J.10, J.12, J.14 to
J.17, K.1 to K.3, L.1 to L.4 and insofar as they relate to the Infrastructure Assets, Warranties A.2, A.3, B.1, B.2, E.1 to E.5, G.2 to G.4 and M; 
 “Intellectual Property Rights” means trade marks, trade names, logos, get-up, patents, inventions, design rights, copyrights, rights of extraction relating to databases, proprietary models, rights in computer software,
domain names and all other similar proprietary rights (whether registered or unregistered) which may subsist in any part of the world (but excluding Know-How) including registrations of such rights and applications and rights to apply for such
registrations; 
 “Interchange” means the Card Scheme Association interchange fees net of reverse interchange fees payable to
the Seller in respect of the Sale Accounts in its capacity as issuer of the Credit Cards; 
 “Key Personnel” has the meaning
set out in the Transitional Services Agreement; 
 “Know-How” means trade secrets, confidential information, know-how,
inventions, technical or commercial knowledge and manufacturing or business processes, methods and procedures; 
 “Legal Assignment of
Assets” means the legal assignment of the Credit Card Assets described in clauses 2.1(b), (c), (d) and (e), in the agreed terms; 
 “Liabilities” means all liabilities, duties and obligations of every description, whether deriving from contract, common law, statute or otherwise, whether present or future, actual or contingent, ascertained or
unascertained or disputed and whether owed or incurred severally or jointly and as principal or surety and “Liability” means any one of them; 
  

 - 7 - 

 “Licence Back” means the licence of the Trade Mark to be entered into between the Seller
and CCIA in the agreed terms; 
 “Losses” means any and all claims, actions, losses, liabilities, costs, penalties, fines,
expenses (including reasonable professional fees), damages, obligations to third parties, expenditures, proceedings, judgments, awards, settlements or demands that are imposed upon or otherwise incurred, suffered or sustained by the relevant party;

 “Master File Tapes” means the TSYS master file tapes prepared as at December 2006 and containing account level data for
the Monument branded accounts for the month of December 2006 initialled for identification by or on behalf of the Seller and the Purchasers; 
 “Material Contracts” mean the Contracts listed or referred to in Part B of Schedule 8; 
 “Measures
Letter” means the letters dated 26 February 2007 and 20 March 2007 from the Purchasers to the Seller and the benefits table attached to the email of 18:00 on 2 April 2007 from Erica Alweiss of the Purchaser to Carla Williams
of the Seller; 
 “Monument Assets Consideration” means the amount of £2.3 million (payable as consideration for
the Infrastructure Assets); 
 “Monument Credit Card Intellectual Property” means the (i) the Trade Mark; (ii) the
rights in and to the Domain Names; and (iii) all Intellectual Property Rights owned by the Seller or any member of the Seller’s Group in the Customer Data and Files and the February Account List; 
 “Monument Infrastructure Intellectual Property” means (i) all Intellectual Property Rights owned by the Seller or any member of the
Seller’s Group in the Records and the Assigned Contracts (or any of them); and (ii) all Intellectual Property Rights owned by the Seller or any member of the Seller’s Group and used exclusively in connection with the Business (other
than the Monument Credit Card Intellectual Property); 
 “Monument Intellectual Property” means together the Monument Credit
Card Intellectual Property and the Monument Infrastructure Intellectual Property; 
 “National Insurance Elections” means
elections to transfer secondary Class 1 National Insurance Contributions under paragraph 3B of Schedule 1 to the Social Security Contributions and Benefits Act 1992 and agreements to permit recovery of such contributions under paragraph 3A of
Schedule 1 to the Social Security Contributions and Benefits Act 1992; 
 “National Insurance Recovery Agreements” means
agreements made pursuant to the National Insurance Contributions and Statutory Payments Act 2004 and paragraph 7 of Schedule 4 to the Social Security (Contributions) Regulations 2001 to recover primary Class 1 National Insurance Contributions on
non-monetary earnings from a Relevant Employee; 
 “Notices of Assignment” means (i) the notice to be given by Raphael
Bank of the assignment of trust interests to CCIA; (ii) the notice to be given by CCIA of the assignment of trust interests to Partridge Funding Corporation; and (iii) the notice to be given by Partridge Funding Corporation of the
assignment of trust interests to Partridge Acquired Portfolio Master Business Trust in the agreed terms; 
  

 - 8 - 

 “Notice to Cardholders” means the notice to be given to each Cardholder as contemplated
by clause 6.1; 
 “Notification” has the meaning given in clause 12.5(a); 
 “Obligor” shall mean, with respect to any Sale Account, the person or persons obligated to make payments with respect to such Sale
Account, including any guarantor thereof, but excluding any merchant; 
 “Other Assets” means those assets listed in Part A
of Schedule 11; 
 “Personal Data” has the meaning given to this term in the Data Protection Act 1998; 
 “Planning Acts” means the Town and Country Planning Act 1990, the Planning (Listed Buildings and Conservation Areas) Act 1990, the
Planning (Hazardous Substances) Act 1990, the Planning (Consequential Provisions) Act 1990, the Planning and Compensation Act 1991 and the Planning and Compulsory Purchase Act 2004; 
 “Policies and Procedures” have the meaning given in Warranty C.4; 
 “Pool 1 Employees” has the meaning set out in the Transitional Services Agreement; 
 “Pool 1 Transferring Employees” has the meaning set out in the Transitional Services Agreement; 
 “Pool 2 Activity” has the meaning set out in the Transitional Services Agreement; 
 “Pool 2 Employees” has the meaning set out in the Transitional Services Agreement; 
 “Pool 2 Transferring Employees” has the meaning set out in the Transitional Services Agreement; 
 “Pool 3 Employees” has the meaning set out in the Transitional Services Agreement; 
 “Post-Signing Receivables” means any and all amounts owing by Cardholders under the Cardholder Agreements and debited to the Sale
Accounts including any amounts owing for the payment of goods and services, interest, cash advances, balance transfers, late charges and any and all other fees, expenses or charges of every nature, kind and description whatsoever, in respect of the
period following the Cut-Off Time; 
 “Predecessor” means Providian National Bank and any other prior owner of the Sale
Accounts; 
 “Pre-Signing Receivables” means all amounts owing by the Cardholders under the Cardholder Agreements and debited
to the Sale Accounts as at the Cut-Off Time including any amounts owing for the payment of goods and services, interest, cash advances, balance transfers, and any fees payable on cash advances, balance transfers or foreign currency transactions and
all amounts accrued and posted in the system of record with respect to any of the foregoing up to and including the Cut-Off Time, as reflected in the Signing Statement; 
 “Pre-Signing Statement” means a statement drawn up by the Seller using data derived as at 28 February 2007 and adjusted to estimate the Pre-Signing Receivables as at 31 March 2007 in the
same format and prepared on the same basis as the Signing Statement and delivered to the Purchasers prior to the date of this Agreement in accordance with clause 4.1, showing each of the elements that make up the Estimated Purchase Price;

  

 - 9 - 

 “Pro-Forma Historic File” means the file prepared by the Seller containing a list of
finder identification numbers generated as at January 2004 utilising the same tranche B account criteria used for the preparation of the Data Extracts contained on the CD-Rom initialled for identification by or on behalf of the Seller and the
Purchasers; 
 “Property” means the Portland Building, Crawley, West Sussex as is demised by the Property Lease; 

“Property Lease” means the lease of the Property dated 16 August 1999 between Canadian and Portland Developments Limited
(1) and Providian National Bank (2) as varied by a deed of variation dated 25 June 2004 between Portland Building Crawley Limited (1) and the Seller (2); 
 “Property Sublease” means the sublease of part of the Property in the agreed terms; 
 “Purchasers” means collectively CCIA and CompuCredit UK, or either of them, as the context indicates; 
 “Purchase Price” means the amount calculated in accordance with clause 3.2; 
 “Purchasers’ Account” means Barclays Bank, Sort Code: 20-00-00, Account Name: CompuCredit International Acquisition Corporation,
Account Number: 90280690, Swift: BARCGB22, IBAN: GB97 BARC 2000 0090 2806 90, Reference: Purchase of Barclays assets; 
 “Purchasers’ Group” means CompuCredit Corporation, any holding company and subsidiary undertakings of CompuCredit Corporation and the subsidiary undertakings of any such holding company, from time to time, and a
“Purchasers’ Group Company” means any one of them; 
 “Purchasers’ Solicitors” means
Allen & Overy LLP of One Bishops Square, London E1 6AO; 
 “Purchasers’ Warranties” means the warranties
set out in Schedule 3 and “Purchasers’ Warranty” means any one of them; 
 “Raphael Bank” means R.
Raphael & Sons Plc, registered number 01288938 whose registered office is at Albany Court Yard, 47-48 Piccadilly, London W1J 0LR; 
 “Receivables” means collectively the Post-Signing Receivables and the Pre-Signing Receivables; 
 “Records” means all of the books, records, documents and other information to the extent relating exclusively to the Assets, the Cardholders and the Sale Accounts (but excluding the Customer Data and Files and February
Account List) maintained or controlled by or on behalf of any Seller’s Group Company and which are in any Seller’s Group Company’s possession, custody or control or held on its behalf; 
 “Relevant Employees” means the Pool 1 Employees and the Pool 2 Employees and “Relevant Employee” means any one of them;

 “Retained Liabilities” has the meaning given in clause 11.2; 
 “Sale Account” means a Credit Card Account in respect of which a credit card branded with the Trade Mark has been issued or re-issued to
a Cardholder which is not either an Excluded Account or a Charged-Off Account as of the Cut-Off Time and which is identified by account number on the Signing Date Account List; 
 “SEC” means the United States Securities and Exchange Commission; 
  

 - 10 - 

 “Seller’s Account” means the account, the details of which are: Barclays Bank plc,
Sort Code: 20-04-15, Account Name: AFTS default, Account Number: 68088306, Swift: BARCGB2108L, IBAN GB75BARC20041568088306, Payment Reference: Sale of Monument Business; 
 “Seller’s Group” means the Seller, any holding company and subsidiary undertakings of the Seller and the subsidiary undertakings of any such holding company, from time to time and a
“Seller’s Group Company” means any one of them; 
 “Seller’s Marks” means the name Barclays Bank
PLC; 
 “Seller’s Scheme” means the retirement benefit scheme known as The Barclays Bank UK Retirement Fund; 

“Seller’s Settlement Account” means account, the details of which are: Barclays Bank plc, Sort Code: 20-04-15, Account Name: AFTS
default, Account Number: 68088306, Swift: BARCGB2108L, IBAN GB75BARC20041568088306, Payment Reference: Monument Settlement; 
 “Seller’s Solicitors” means Lovells of Atlantic House, Holborn Viaduct, London EC1A 2FG; 
 “Services Assumption Date” means in the case of Pool 1 Transferring Employees the Completion Date and in the case of Pool 2 Transferring Employees, either the Transitional Activities Assumption Date of the relevant Pool 2
Activity as defined in the Transitional Services Agreement or such other date as the parties may agree pursuant to clause 6.8 of the Transitional Services Agreement; 
 “Share Plan or Plan” means any incentive plan or arrangement operated by the Seller involving securities or which is securities-based in which any Share Plan Employee can or could participate,
including share option plans, long term incentive plans, restructured share plans, SAYE plans, share incentive plans and phantom plans and “Plans” will be construed accordingly; 
 “Share Plan Employee” means any employee whose employment will transfer under the TUPE Regulations or otherwise in connection with the
sale and purchase of the Business pursuant to this Agreement; 
 “Signing Date Account List” has the meaning given in clause
3.6; 
 “Signing Statement” means the Draft Signing Statement incorporating any amendments made in accordance with paragraph
4 of Part B of Schedule 1; 
 “Tax” or “Taxation” means any and all forms of tax, duty, levy or other
imposition whenever and by whatever Taxation Authority imposed and whether of the United Kingdom or elsewhere, including income tax, corporation tax, capital gains tax, inheritance tax, value added tax, customs duties, excise duties, stamp duty,
stamp duty land tax, stamp duty reserve tax, national insurance and social security and any interest, penalty, fine or surcharge in connection with any such taxation; 
 “Taxation Authority” or “Tax Authority” means HMRC and any other local, governmental, state or federal authority or body competent to impose or collect Tax; 
 “Trade Mark” means the Monument trade mark, registered in the name of the Seller under UK registered trade mark number 2310126 in class
36; 
 “Tranche A Accounts” means all accounts identified on the Data Extracts prepared as at 31 October 2006 as tranche
A accounts which remain tranche A accounts as at the Cut-Off Time in accordance with the guidelines set out in Schedule 10; 
  

 - 11 - 

 “Tranche B Accounts” means all accounts identified on the Data Extracts prepared as at
31 October 2006 as tranche B accounts and which remain tranche B accounts as at the Cut-Off Time in accordance with the guidelines set out in Schedule 10, excluding any Excluded Account or Charged-Off Account; 
 “Tranche B Purchase Price” means the amount equal to the Purchase Price minus the Tranche C Purchase Price; 
 “Tranche C Accounts” means all accounts identified on the Data Extracts prepared as at 31 October 2006 as tranche C accounts which
remain tranche C accounts as at the Cut-Off Time in accordance with the guidelines set out in Schedule 10, plus all accounts identified on the Data Extracts prepared as at 31 October 2006 as a tranche A or B or D account and which have become a
tranche C account as at the Cut-Off Time in accordance with the guidelines set out in Schedule 10, excluding any Excluded Account or Charged-Off Account; 
 “Tranche C Limit” means the amount which is equal to 35 per cent. of the Pre-Signing Receivables relating to the Tranche C Accounts as at the Cut-Off Time; 
 “Tranche C Purchase Price” means the amount calculated pursuant to clause 3.2(b); 
 “Transferring Employees” means the Pool 1 Transferring Employees and the Transferring Pool 2 Employees and “Transferring
Employee” means any one of them; 
 “Transferring Employees’ Costs” has the meaning set out in clause 12.4(a);

 “Transferring Employees’ Costs Statement” has the meaning set out in clause 12.4(c); 
 “Transitional Activity Assumption Date” has the meaning set out in the Transitional Services Agreement; 
 “Transitional Services Agreement” means the agreement between the Seller and CCIA and CompuCredit UK dated the date of this Agreement
under which the Seller will provide certain services for a period after the date of this Agreement; 
 “TUPE Regulations”
means the Transfer of Undertakings (Protection of Employment) Regulations 2006; 
 “Unenforceability Allegation” means an
express written notice received by the Purchasers or Raphael Bank from a Cardholder within two years of the date of this Agreement containing an allegation that his or her Cardholder Agreement is unenforceable pursuant to the CCA due to any fact,
matter or circumstances arising prior to the date of this Agreement; 
 “VAT” means value added tax; 
 “VAT Regulations” means the Value Added Tax Regulations 1995; 
 “Visa” means Visa International Services Association, Visa Europe Limited and any other Visa entity, as appropriate; 
 “Warranty Claim” means a claim for breach of any of the Warranties and/or a Claim for breach of any of the covenants of the Seller set
out in clause 4 of this Agreement; and 
 “Warranties” means the warranties set out in Schedule 2 and
“Warranty” means any one of them. 
  

 - 12 - 

	1.2	In this Agreement, unless the context otherwise requires: 

  

	 	(a)	references to this Agreement or any other document include references to this Agreement or such other document as varied, supplemented and/or replaced in any manner from time to
time; 

  

	 	(b)	references to any party shall, where relevant, be deemed to be references to or to include, as appropriate, their respective permitted successors, assigns or transferees;

  

	 	(c)	references to recitals, clauses, schedules and sub-divisions of them are references to the recitals and clauses of, and schedules to, this Agreement and sub-divisions of them
respectively; 

  

	 	(d)	references to any enactment include references to such enactment as re-enacted, amended or extended on or before the date of this Agreement and any subordinate legislation made from
time to time under it; 

  

	 	(e)	references to a “person” include any individual, company, corporation, firm, partnership, joint venture, association, organisation, institution, trust or agency,
whether or not having a separate legal personality; 

  

	 	(f)	references to time are to time in London; 

  

	 	(g)	headings are inserted for convenience only and shall be ignored in construing this Agreement; and 

  

	 	(h)	the words “subsidiary”, “subsidiary undertaking” and “holding company” have the meanings given to them by the Companies Act 1985.

  

	1.3	Any reference in this Agreement to a document being “in the agreed terms” is to a document in the terms agreed between the Seller and the Purchasers and for
identification purposes only signed or initialled by them or on their behalf on or before the date of this Agreement. 

  

	1.4	The recitals and schedules to this Agreement form part of it. 

  

	2.	SALE AND PURCHASE 

  

	2.1	The Seller shall sell (and, in the case of (b), (c), (d) and (e), assign, by way of legal assignment) free from all Encumbrances and Raphael Bank as CCIA’s designee shall
acquire the following Credit Card Assets: 

  

	 	(a)	all Sale Accounts; 

  

	 	(b)	the benefit of the Cardholder Agreements; 

  

	 	(c)	the Pre-Signing Receivables plus, for the avoidance of doubt, any accrued interest as at the Cut-Off Time relating to the Pre-Signing Receivables; 

  

	 	(d)	all Post-Signing Receivables; 

  

	 	(e)	the Customer Data and Files and the Signing Date Account List (save that the Seller will be entitled to retain a copy of all or some of the Customer Data and Files and the Signing
Date Account List in so far and for such time as they may reasonably be required by either the Seller or any Seller’s Group Company for on-going regulatory compliance, accounting, auditing, litigation or tax reasons or to comply with the
Seller’s obligations under the Transitional Services Agreement); 

  

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	 	(f)	the right to the Interchange in relation to transactions that take place after the Cut-Off Time; 

  

	 	(g)	the Credit Cards; 

  

	 	(h)	the BIN; and 

  

	 	(i)	the Credit Card Stock. 

  

	2.2	The Seller shall sell free from all Encumbrances and CCIA shall purchase the Goodwill, the Monument Credit Card Intellectual Property and the Excluded Accounts Customer Data.

  

	2.3	The Seller shall sell (and, in the case of (d) and (g), assign) free from all Encumbrances and CompuCredit UK shall purchase the following Infrastructure Assets:

  

	 	(a)	the Copy Records; 

  

	 	(b)	the Other Assets; 

  

	 	(c)	the Information Technology Infrastructure Assets; 

  

	 	(d)	the benefit (subject to the burden) of the Assigned Contracts; 

  

	 	(e)	the Records (save that the Seller will be entitled to retain a copy of all or some of the Records in so far and for such time as they may reasonably be required by either the Seller
or any Seller’s Group Company for on-going regulatory compliance, accounting, auditing, litigation or tax reasons or to comply with the Seller’s obligations under the Transitional Services Agreement); 

  

	 	(f)	the Seller’s interest in the Property; 

  

	 	(g)	the Monument Infrastructure Intellectual Property; 

  

	 	(h)	the proceeds of any insurance claim relating to any of the Infrastructure Assets (excluding the Information Technology Infrastructure Assets) arising prior to the Completion Date
and any insurance claim relating to any of the Information Technology Infrastructure Assets arising prior to the Final Completion Date, save where such proceeds have been used prior to Completion to restore or replace an Infrastructure Asset or have
been used prior to the Final Completion to restore or replace an Information Technology Infrastructure Asset (as the case may be); and 

  

	 	(i)	the Data Warehouse Database. 

  

	2.4	Subject to clause 2.5, the sale and purchase of the Credit Card Assets (other than the BIN) shall take effect at Credit Card Completion and the sale and purchase of the BIN shall
take effect at the time that the BIN is transferred to Raphael Bank in accordance with clause 6.2. 

  

	2.5	The legal assignment of the Credit Card Assets described in clause 2.1(b), (c), (d) and (e) shall occur on the Assignment Date, on which date the Purchasers shall execute
and date the Legal Assignment of Assets (and Barclays hereby irrevocably authorises either of the Purchasers to date the Legal Assignment of Assets executed by it and delivered pursuant to clause 5.2(d) on the Assignment Date), following Notice to
Cardholders having been given to the Cardholders in accordance with clause 6.1. From Credit Card Completion and until the Assignment Date, the Seller shall hold the Credit Card Assets described in clause 2.1(b), (c), (d) and (e), and all rights
and benefits arising under them, in trust for Raphael Bank, as CCIA’s designee as acquirer of such Credit Card Assets, absolutely and in accordance with the Declaration of Trust. 

  

 - 14 - 

	2.6	The sale, purchase and (in the case of the Assets described in clauses 2.3(d) and (g)) assignment of the Infrastructure Assets (excluding the Information Technology Infrastructure
Assets) shall take effect on Completion and the sale and purchase of the Information Technology Infrastructure Assets shall take effect on Final Completion. 

  

	3.	PURCHASE PRICE AND PAYMENT 

  

	3.1	The total consideration payable by the Purchasers to the Seller for the Business and the Assets shall be the Purchase Price together with the Assumed Liabilities.

  

	3.2	The Purchase Price shall be an amount equal to the sum of: 

  

	 	(a)	88% of the Pre-Signing Receivables relating to Tranche B Accounts (excluding the Credit Card Credit Balances relating to Tranche B Accounts) less the Credit Card Credit Balances
relating to Tranche B Accounts; 

  

	 	(b)	21.5% of the Pre-Signing Receivables relating to Tranche C Accounts (excluding the Credit Card Credit Balances relating to Tranche C Accounts) less the Credit Card Credit Balances
relating to Tranche C Accounts; and 

  

	 	(c)	the Monument Assets Consideration. 

  

	3.3	The Purchase Price shall be allocated between the Assets and the Assumed Liabilities in accordance with Part A of Schedule 1. 

  

	3.4	The Purchase Price other than the Monument Assets Consideration will be satisfied by: 

  

	 	(a)	a payment in cash in pounds sterling on the date of this Agreement by telegraphic transfer into the Seller’s Account of an amount equal to the sum of the Estimated Purchase
Price, as set out in the Pre-Signing Statement delivered to the Purchasers by the Seller in accordance with clause 4.1; and 

  

	 	(b)	a payment pursuant to clause 3.9 (if applicable). 

  

	3.5	The Monument Assets Consideration will be settled by a payment in cash in pounds sterling on Final Completion by telegraphic transfer into the Seller’s Account of the Monument
Assets Consideration. 

  

	3.6	The Seller must as soon as reasonably possible following the date of this Agreement, and in any event on or before the day which is 10 Business Days following the date of this
Agreement, prepare and provide CCIA and Raphael Bank (as CCIA’s designee) with a true and complete list of Sale Accounts as at the Cut-Off Time (clearly indicating which are Tranche B Accounts and which are Tranche C Accounts) together with
names, addresses and account numbers of the Cardholders, outstanding balances and delinquency status of such Sale Accounts prepared as at the Cut-Off Time which identifies the Sale Accounts in accordance with the criteria set out in Schedule 10 (the
“Signing Date Account List”). No Claim for any Excluded Account being included in the Signing Date Account List provided pursuant to this clause may be made by the Purchasers except pursuant to either (i) Part B of Schedule 1
and/or clause 3.9 or (ii) clause 7.1. 

  

	3.7	The Seller must as soon as reasonably possible following the date of this agreement, and in any event on or before the day that is 20 Business Days following the date of this
Agreement prepare and deliver to the Purchasers a draft of the Signing Statement (the “Draft Signing Statement”) in accordance with the provisions of Part B of Schedule 1. 

  

 - 15 - 

	3.8	The Draft Signing Statement once agreed or determined pursuant to Part B of Schedule 1: 

  

	 	(a)	shall constitute the Signing Statement for the purposes of this Agreement; and 

  

	 	(b)	shall be final and binding on the Seller and the Purchasers but without prejudice to the provisions of clause 7 in respect of Covered Accounts and reimbursement for such Covered
Accounts or to any actual or potential Warranty Claim in relation to any Sale Accounts. 

  

	3.9	If and to the extent that the Credit Card Purchase Price as set out in the Signing Statement is: 

  

	 	(a)	less than the amount paid under clause 3.4(a), an amount equal to such shortfall plus an amount equal to interest from the date of this Agreement at the Seller’s base rate
as at the date of this Agreement shall be paid by the Seller to CCIA in cash by telegraphic transfer into the Purchasers’ Account; or 

  

	 	(b)	more than the amount paid under clause 3.4(a), an amount equal to such excess plus an amount equal to interest from the date of this Agreement at the Seller’s base rate as
at the date of this Agreement shall be paid by CCIA to the Seller in cash by telegraphic transfer into the Seller’s Account. 

  

	3.10	Any amount to be paid under clause 3.9 shall be paid within five Business Days after the Signing Statement has been finally agreed or determined in accordance with Part B of
Schedule 1. 

  

	4.	PRE-COMPLETION MATTERS 

  

	4.1	The Seller has delivered the Pre-Signing Statement to CCIA. 

  

	4.2	Pending Completion the Seller shall ensure that: 

  

	 	(a)	it will comply with its obligations under the Property Lease and will make an application to the Landlord of the Property Lease for its consent to assign the Property Lease to
CompuCredit UK in a form reasonably acceptable to CompuCredit UK; 

  

	 	(b)	it will comply with its obligations under the Assigned Contracts and will comply with its material obligations under the Material Contracts which relate to the Business;

  

	 	(c)	the Purchasers (and Raphael Bank as CCIA’s designee as acquirer of certain of the Credit Card Assets) and their agents and representatives are afforded reasonable access to the
Infrastructure Assets, including the Property (but excluding that part of the Property located within the demise described in the Property Sublease unless (i) such reasonable access has been agreed between the parties (acting reasonably); or
(ii) the relevant person seeking access is accompanied by a representative of the Seller; or (iii) is required in order for the parties to comply with their obligations under clause 7 of Part C of Schedule 6 to this Agreement);

  

	 	(d)	it shall not and no member of the Seller’s Group shall: 

  

	 	(i)	amend any of the terms of employment of the Pool 1 Transferring Employees, including in relation to those employees’ pension arrangements, except with the prior written consent
of CompuCredit UK (such consent not to be unreasonably withheld or delayed) and subject at all time to compliance with Applicable Laws; and/or 

  

 - 16 - 

	 	(ii)	make any communications to the Pool 1 Transferring Employees which are in any way inconsistent with the terms of this Agreement except with the prior written consent of CompuCredit
UK (such consent not to be unreasonably withheld or delayed); 

  

	 	(e)	the Purchasers will be kept fully and promptly informed of all material matters relating to the Business, including (i) of any litigation or proceeding, challenging the
purchase, sale or assignment of any of the Assets hereunder, (ii) of any material adverse change in the financial condition of the Sale Accounts, and (iii) any material billing errors, claims, disputes or any litigation with respect to the
Sale Accounts; 

  

	 	(f)	insurance cover in respect of the Infrastructure Assets will be maintained at all times on the same basis existing on the date of this Agreement; and 

  

	 	(g)	it will inform the Purchasers of any: 

  

	 	(i)	Pool 1 Transferring Employee who, after the date of this Agreement, makes an application to receive or begins to receive or is approved to receive or who appeals a decision to
reject payment under any disability or permanent health or any similar insurance scheme funded by the Seller; 

  

	 	(ii)	Pool 1 Transferring Employee who has given or received notice of termination of his or her employment, become the subject of any formal or material disciplinary action or who is
engaged in any formal or material grievance procedure; 

  

	 	(iii)	employee who has ceased to be a Pool 1 Transferring Employee but remains employed by any Seller’s Group Company; and 

  

	 	(iv)	claim or legal proceedings in relation to any of the Pool 1 Transferring Employees which are current, threatened or, so far as the Seller is aware, pending against any Seller’s
Group Company; 

  

	 	(h)	it shall not and no member of the Seller’s Group shall grant any options or awards to Share Plan Employees under the Share Plans; and 

  

	 	(i)	it will inform the Purchaser of any National Insurance Elections, National Insurance Recovery Agreements or elections made in relation to restricted securities under Chapter 2 of
Part 7 of the Income Tax (Earnings and Pensions) Act 2003 which are entered into by Share Plan Employees after the date of this Agreement in relation to options and awards granted under the Share Plans. 

  

	4.3	Pending each Pool 2 Transitional Activities Assumption Date and once the Pool 2 Transferring Employee has been selected by the Purchasers pursuant to clause 6.9 of the Transitional
Service Agreement: 

  

	 	(a)	the Seller will inform the Purchasers of any: 

  

	 	(i)	Pool 2 Transferring Employee performing the relevant Pool 2 Activity who, after the date of this Agreement, makes an application to receive or begins to receive or is approved to
receive or who appeals a decision to reject payment under any disability or permanent health or any similar insurance funded by the Seller; 

  

 - 17 - 

	 	(ii)	Pool 2 Transferring Employee performing the relevant Pool 2 Activity who has given or received notice of termination of his or her employment, become the subject of any formal or
material disciplinary action, or who is engaged in any formal or material grievance procedure; and 

  

	 	(iii)	employee who has ceased to be a Pool 2 Transferring Employee but remains employed by any Seller’s Group Company. 

  

	 	(iv)	claim or legal proceedings in relation to any Pool 2 Transferring Employee performing the relevant Pool 2 Activity of which are current, threatened or so far as the Seller is aware
pending against any Seller’s Group Company; and 

  

	 	(b)	the Seller shall ensure that it shall not and no member of the Seller’s Group shall: 

  

	 	(i)	amend any of the terms of employment of the Pool 2 Transferring Employees, including in relation to those employees’ pension arrangements, except with the prior written consent
of CompuCredit UK (such consent not to be unreasonably withheld or delayed) and subject at all times to compliance with applicable laws; and/or 

  

	 	(ii)	make any communications to the Pool 2 Transferring Employees which are in any way inconsistent with the terms of this Agreement except with the prior written consent of CompuCredit
UK (such consent not to be unreasonably withheld). 

  

	4.4	Pending Completion the Seller shall use its reasonable endeavours and shall procure that each Seller’s Group Company shall use its reasonable endeavours, not to take any
actions or make any omissions in relation to the Pool 1 Employees (other than any action taken pursuant to the TUPE Regulations or this Agreement) which would be reasonably likely to cause the Pool 1 Employees to cease to be employed in the Business
prior to Completion except with the prior written consent of CompuCredit UK (such consent not to be unreasonably withheld or delayed), provided that this clause does not prevent the Seller dismissing any Pool 1 Employees for cause without the prior
written consent of CompuCredit UK. 

  

	4.5	Pending each Pool 2 Transitional Activities Assumption Date and once the Pool 2 Transferring Employee has been selected by the Purchasers pursuant to clause 6.9 of the Transitional
Service Agreement the Seller shall use its reasonable endeavours and shall procure that each Sellers’ Group Company shall use its reasonable endeavours, not to take any actions or make any omissions in relation to the Pool 2 Transferring
Employees performing the relevant Pool 2 Activity (other than any action taken pursuant to the TUPE Regulations or this Agreement) which would be reasonably likely to cause the Pool 2 Transferring Employees performing the relevant Pool 2 Activity to
cease to be employed in the Business prior to the relevant Pool 2 Transitional Activities Assumption Date except with the prior written consent of CompuCredit UK (such consent not to be reasonably withheld or delayed), provided that this clause does
not prevent the Seller dismissing any Pool 2 Transferring Employees for cause without the prior written consent of CompuCredit UK. 

  

	4.6	Without limiting the generality of any of the provisions of clauses 4.2 and 4.4, pending Completion the Seller shall use its reasonable endeavours to preserve the Infrastructure
Assets and shall promptly discharge all Liabilities and Losses relating to the Infrastructure Assets. 

  

	4.7	Without prejudice to the provisions of clauses 4.2, 4.4 and 4.6, pending Completion the Seller will ensure that none of the following matters will occur or be undertaken
without the prior written consent of the Purchasers (such consent not to be unreasonably withheld or delayed): 

  

	 	(a)	the sale, assignment, underletting or disposal of, or the grant or termination of any rights in respect of, the Infrastructure Assets; 

  

 - 18 - 

	 	(b)	the creation or issue or allowing to come into being of any Encumbrance on or over any part of the Infrastructure Assets; 

  

	 	(c)	the termination, material amendment or variation of any Assigned Contract or the Property Lease; or 

  

	 	(d)	the material departure in any way from the ordinary course of the day-to-day conduct of the Business either as regards the prior nature, scope or the manner of conducting the same,
including: 

  

	 	(i)	entering into any contract or commitment which is material and which is not on arm’s length terms or in the ordinary course of business which impacts on the Business;

  

	 	(ii)	introducing into the Business any new range or type of services; 

  

	 	(iii)	acting in respect of the Cardholder Agreements, Sale Accounts or Credit Card Assets in breach of the Transitional Services Agreement; 

  

	 	(iv)	entering or offering to enter into any contracts relating exclusively to the Business on terms which (i) do not permit assignment to CompuCredit UK without counter-party
consent or cost to CompuCredit UK or (ii) in aggregate, involve consideration in excess of £250,000 per annum; 

  

	 	(v)	entering or making any material change to any agreement with any trade union (including the agreement with Amicus disclosed at File 23 Document I.015 of the Disclosure Documents)
which has an impact on the Business or the terms and conditions of employment or benefits (including pensions benefits) of any Transferring Employee or employing or terminating the employment of any person other than in the ordinary course of
business consistent with past practice or as may be required by Applicable Law or a court of competent jurisdiction; or 

  

	 	(vi)	changing the terms and conditions of employment of any Pool 1 Transferring Employee including, but not limited, to changes to the role and responsibilities of any Pool 1
Transferring Employee with the effect that they no longer fall within the definition of a Pool 1 Transferring Employee or otherwise changing the role and responsibilities of any other employee so as to cause that person to become a Pool 1
Transferring Employee save where this is pursuant to the Pool 1 Transferring Employee’s objection to the transfer of his/her employment to CompuCredit UK in accordance with Regulation 4 of the TUPE Regulations; or 

  

	 	(vii)	doing (or omitting to do, so far as it is within the power or control of the Seller or the Seller’s Group to prevent such omission), permitting or causing to be done (or
omitted to be done, so far as it is within the power or control of the Seller or the Seller’s Group to prevent such omission) any act or thing which would result (or be reasonably likely to result) in any of the Infrastructure Warranties being
untrue or inaccurate as if they were repeated in full at Completion, provided that the Liability of the Seller pursuant to this clause 4.5(d)(vi) shall in no circumstances be greater than it would have been had the Infrastructure Warranties been
repeated in full at Completion and been untrue or inaccurate in any respect. 

  

 - 19 - 

	4.8	Pending Final Completion the Seller shall: 

  

	 	(a)	preserve and maintain any Information Technology Infrastructure Assets and any related Contracts and shall promptly discharge all Liabilities and Losses relating to the Information
Technology Infrastructure Assets; and 

  

	 	(b)	ensure that none of the following matters will occur or be undertaken without the prior written consent of the Purchasers (such consent not to be unreasonably withheld or delayed):

  

	 	(i)	the sale, assignment, underletting or disposal of, or the grant or termination of any rights in respect of, the Information Technology Infrastructure Assets;

  

	 	(ii)	the creation or issue or allowing to come into being of any Encumbrance on or over any part of the Information Technology Infrastructure Assets; and/or 

  

	 	(iii)	doing (or omitting to do, so far as it is within the power or control of the Seller or the Seller’s Group to prevent such omission), permitting or causing to be done (or
omitted to be done, so far as it is within the power or control of the Seller or the Seller’s Group to prevent such omission) any act or thing which would result (or be reasonably likely to result) in any of the Infrastructure Warranties (but
only to the extent they apply to the Information Technology Infrastructure Assets) being untrue or inaccurate as if they were repeated in full at Final Completion, provided that the Liability of the Seller pursuant to this clause 4.6(b)(iii) shall
in no circumstances be greater than it would have been had the Infrastructure Warranties (to the extent that they apply to the Information Technology Infrastructure Assets) been repeated in full at Final Completion and been untrue or inaccurate in
any respect; 

  

	 	(c)	save where the Pool 2 Employee is a Retained Employee, changing the terms and conditions of employment of any Pool 2 Employee including, but not limited to, changes to their role
and responsibilities with the effect that they no longer fall within the definition of a Pool 2 Employee; 

  

	 	(d)	keep the Purchasers fully and promptly informed of all material matters relating to the Infrastructure Technology Infrastructure Assets, including of any litigation or proceeding
challenging the purchase, or sale of the Infrastructure Technology Infrastructure Assets; 

  

	 	(e)	maintain insurance cover in respect of the Information Technology Infrastructure Assets at all time on the same basis existing on the date of this Agreement;

  

	 	(f)	comply with its obligations under the Assigned Contracts insofar as they relate to the Information Technology Infrastructure Assets; 

  

	 	(g)	not terminate, amend or vary any Assigned Contract insofar as it relates to the Information Technology Infrastructure Assets; and 

  

	 	(h)	afford the Purchasers (and Raphael Bank as CCIA’s designee as acquirer of certain of the Credit Card Assets) and their agents and representatives access to the Information
Technology Infrastructure Assets. 

  

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	5.	COMPLETION 

  

	5.1	Subject to the provisions of this Agreement: 

  

	 	(a)	Credit Card Completion shall take place immediately following the signing of this Agreement at the offices of the Seller’s Solicitors; 

  

	 	(b)	Completion shall take place on the Completion Date at the offices of the Seller’s Solicitors; and 

  

	 	(c)	Final Completion shall take place on the Final Completion Date at the offices of the Seller’s Solicitors. 

  

	5.2	On Credit Card Completion the Seller will deliver to Raphael Bank as CCIA’s designee: 

  

	 	(a)	except as set out in clause 5.3, all the Credit Card Assets which are capable of passing by delivery; 

  

	 	(b)	the Notices of Assignment duly acknowledged by the Seller; 

  

	 	(c)	the Declaration of Trust duly executed by the Seller; 

  

	 	(d)	the Legal Assignment of Assets duly executed (but not dated) by the Seller; and 

  

	 	(e)	the Transitional Services Agreement duly executed by the Seller. 

  

	5.3	On and from Credit Card Completion: 

  

	 	(a)	the Seller shall hold to the order of Raphael Bank, as CCIA’s designee, the Customer Data and Files and the Credit Card Stock and shall afford Raphael Bank and CCIA full and
unrestricted access to the Customer Data and Files; and 

  

	 	(b)	the Seller shall deliver to CCIA: 

  

	 	(i)	the assignment of the Monument Credit Card Intellectual Property in the agreed terms duly executed by the Seller; 

  

	 	(ii)	the Licence Back duly executed by the Seller; 

  

	 	(iii)	the Excluded Accounts Customer Data; and 

  

	 	(iv)	a signed letter addressed to Bank of America, CompuCredit Corporation and Raphael Bank in the agreed terms waiving with immediate effect certain provisions of the confidentiality
agreement entered into between the Seller, Bank of America, CompuCredit Corporation and Arrow Global Limited in and during October 2006. 

  

	5.4	Within 10 Business Days after Credit Card Completion the Seller shall prepare and provide CCIA with the Closing Master File Tape which will be true, accurate and complete in all
material respects. 

  

	5.5	On Completion the Seller will deliver to CompuCredit UK: 

  

	 	(a)	the Records duly completed and up to date in all material respects; 

  

	 	(b)	the Copy Records duly completed and up to date in all material respects; 

  

	 	(c)	all payroll records, records of National Insurance, PAYE and income tax records relating to all Pool 1 Transferring Employees duly completed and up to date in all material respects
and the Employment Information relating to all Pool 1 Transferring Employees up to date as at the date which is three Business Days prior to the Completion Date; 

  

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	 	(d)	all the other Infrastructure Assets (excluding the Information Technology Infrastructure Assets and the BIN) which are capable of passing by delivery; 

  

	 	(e)	(subject to the provisions of Schedule 6), vacant possession of the Property, save for Transferring Employees and Fixtures which are to transfer from the Seller to CompuCredit UK
under the terms of this Agreement; 

  

	 	(f)	a capital allowances election in respect of the Fixtures in the form set out in Schedule 9 duly executed by the Seller; and 

  

	 	(g)	the assignment of the Monument Infrastructure Intellectual Property in the agreed terms duly executed by the Seller. 

 On each Pool 2 Transitional Activities Assumption Date the Seller will deliver to CompuCredit UK all payroll records, records of National Insurance, PAYE
and income tax records relating to all Pool 2 Transferring Employees performing the relevant Pool 2 Activity duly completed and up to date in all material respects and the Employment Information relating to the Pool 2 Transferring Employees
performing the relevant Pool 2 Activity up to date as at the date which is three Business Days prior to the relevant Pool 2 Transitional Activities Assumption Date. 
  

	5.6	On Completion: 

  

	 	(a)	the Seller shall deliver to Raphael Bank as CCIA’s designee the Customer Data and Files duly completed and up to date in all material respects and the Credit Card Stock. For
the avoidance of doubt, the Seller shall not be obliged to deliver to Raphael Bank any part of the Credit Card Stock which has been issued to Cardholders or otherwise used pursuant to the terms of the Transitional Services Agreement; and

  

	 	(b)	CompuCredit UK shall deliver to the Seller a capital allowances election in the form set out in Schedule 9 duly executed by CompuCredit UK. 

  

	5.7	On Credit Card Completion, CCIA shall: 

  

	 	(a)	take the action set out in clause 3.4(a); 

  

	 	(b)	deliver or cause to be delivered to the Seller: 

  

	 	(i)	the Transitional Services Agreement duly executed by CCIA and CompuCredit UK; 

  

	 	(ii)	the assignment of the Monument Credit Card Intellectual Property in the agreed terms duly executed by CCIA; 

  

	 	(iii)	the Licence Back duly executed by CCIA; and 

  

	 	(iv)	the letter from CompuCredit Corporation to the Seller in the agreed terms; and 

  

	 	(c)	procure that Raphael Bank acknowledges receipt of the Legal Notice of Assignment. 

  

	5.8	On Final Completion: 

  

	 	(a)	the Seller will deliver to CompuCredit UK: 

  

	 	(i)	the Information Technology Infrastructure Assets; 

  

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	 	(ii)	where the Seller has original Assigned Contracts within its possession, custody or control, the original Assigned Contracts together with (where applicable) assignments or novations
in the agreed terms in respect of the Assigned Contracts duly signed by the Seller and (where applicable) the counterparty to the Assigned Contract; and 

  

	 	(iii)	where the Seller does not have original Assigned Contracts within its possession, custody or control, a true and complete copy of such Assigned Contracts together with (where
applicable) copies of the assignments or novations in the agreed terms in respect of the Assigned Contracts duly signed by the Seller and (where applicable) the counterparty to the Assigned Contract; and 

  

	 	(b)	CompuCredit UK shall take the actions set out in clause 3.5. 

  

	5.9	On Completion the risk of loss or damage to, and property in, the Infrastructure Assets (excluding the Information Technology Infrastructure Assets) shall pass to CompuCredit UK and
on Final Completion the risk of loss or damage to, and property in, the Information Technology Infrastructure Assets shall pass to CompuCredit UK. 

  

	5.10	From the date of this Agreement, Cardholders will continue to use Credit Cards bearing the name of the Seller and the Seller hereby grants to CCIA and Raphael Bank as CCIA’s
designee, a non-exclusive, non-assignable, royalty free licence to use as a trademark the Seller’s Marks on the existing Credit Cards until the Credit Cards are replaced in accordance with clause 5.11. 

  

	5.11	Within six calendar months of Credit Card Completion, CCIA will issue or will procure the issue of replacement credit cards to all Cardholders bearing the name of Raphael Bank as
CCIA’s designee in place of the existing Credit Cards, provided that, if the Purchasers decide to convert the Business to using a different system of record than used at present in relation to the Sale Accounts, CCIA will issue or procure the
issue of such replacement credit cards within nine calendar months of Credit Card Completion. The licence granted to Raphael Bank and CCIA under clause 5.10 will terminate on the earlier of the date that the last replacement credit card is issued
under this clause 5.11 and the date which is six calendar months after Credit Card Completion (or if the proviso in the previous sentence applies, the date which is nine calendar months after Credit Card Completion). Except as permitted under the
licence under clause 5.10, in the Notice to Cardholders to be sent pursuant to clause 6.1 or the Transitional Services Agreement, none of Raphael Bank, CCIA or CompuCredit UK shall be entitled to use the Seller’s Marks or the name Barclays or
Barclaycard after the date of this Agreement in connection with the conduct of the Business or otherwise. Until the date on which the last replacement card is issued under this clause 5.11, Raphael Bank and CCIA will comply with clause 8.1 of the
Transitional Services Agreement. 

  

	5.12	As soon as reasonably possible after the issue of replacement cards as contemplated by clause 5.11, CCIA will reimburse the Seller for the Credit Card Stock actually used by CCIA or
Raphael Bank as CCIA’s designee (or by the Seller pursuant to the Transitional Services Agreement) after Credit Card Completion and prior to such replacement at a cost of 87 pence per “Classic” Credit Card, 75 pence per
“Premium” Credit Card and 82 pence per “Platinum” Credit Card and the Seller shall then destroy all remaining Credit Card Stock. 

  

	5.13	The BIN will be delivered to Raphael Bank in accordance with clause 6.2. 

  

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	5.14	CCIA may elect by written notice to the Seller by no later than 20 Business Days prior to 1 June 2007 to extend the Completion Date to a date which is no later than
1 August 2007. 

  

	6.	POST-CREDIT CARD COMPLETION MATTERS 

  

	6.1	As soon as reasonably practicable after Credit Card Completion and, in any event by the date which is 30 Business Days after the Signing Date Account List is provided to CCIA in
accordance with clause 3.6, CCIA will prepare, print and post (or procure the preparation, printing and posting) on behalf of CCIA, Raphael Bank and the Seller, to each Cardholder, the Notice to Cardholders (with effect from the Assignment Date) of
the intended legal assignment of the benefit of the Cardholder Agreements, the Pre-Signing Receivables and the Post-Signing Receivables and such other matters with respect to the transactions contemplated by this Agreement which the Seller and CCIA
have determined, in such agreed terms, to be appropriate or which are required under Applicable Law. The Seller hereby irrevocably authorises CCIA to serve such notice on each Cardholder in such agreed terms. In the event that 20 Business Days after
Credit Card Completion Raphael Bank has not received notification from the Office of Fair Trading of the addition of the trading name “Monument” to Raphael Bank’s consumer credit licence CCIA may, by giving written notice to the
Seller extend the period for sending notification to each Cardholder by a further period of 30 Business Days. Until the date which is three Business Days after the date on which the Notice to Cardholders is sent to all Cardholders, CCIA and Raphael
Bank shall not increase the interest rate and fees applicable to unpaid balances on the Sale Accounts. 

  

	6.2	The Seller and CCIA will as soon as reasonably practicable after Credit Card Completion and, in any event, by the date which is six calendar months after Credit Card Completion (or,
if the Purchasers decide to convert the Business to using a different system of record than used at present in relation to the Sale Accounts, by the date which is nine calendar months after Credit Card Completion), make arrangements for the BIN to
be transferred from the Seller to Raphael Bank, such that Raphael Bank as CCIA’s designee is able to pay the Daily Settlement Amount directly to the Card Scheme Association. Until such arrangements have become effective, the Seller shall make
the normal CHAPS payment of the Daily Settlement Amount from an account of the Seller, in accordance with the arrangements that apply before Credit Card Completion, and CCIA or Raphael Bank as CCIA’s designee shall pay the Daily Settlement
Amount into the Seller’s Settlement Account in cleared funds by 4.00 pm each Business Day, provided that the Seller has notified CCIA and Raphael Bank as CCIA’s designee of the Daily Settlement Amount required to be paid on that day by
noon. 

  

	6.3	The Seller and CCIA will as soon as reasonably practicable after Credit Card Completion and, so far as possible, by the date which is 10 Business Days after Completion, make
arrangements for Cardholder Payments to be routed directly to CCIA (or such member of the Purchasers’ Group or Raphael Bank, as CCIA may direct) in accordance with the Direct Debiting Scheme Rules (in so far as it is possible to do so). Until
such arrangements have become effective, the Seller shall pay the amount it receives in respect of identifiable Cardholder Payments by noon each Business Day to CCIA (or such member of the Purchasers’ Group or Raphael Bank, as the case may be),
less the amount of any returned direct debits or cheque payments processed by the Seller since the previous Business Day and shall pay over any amount it receives in respect of Cardholder Payments which cannot be identified on the day of receipt as
soon as reasonably practicable. 

  

	6.4	 If either party is late in making a payment to the other under clauses 6.2 or 6.3, interest will (save where such late payment is caused by an act, omission,
failure or default of that party’s bankers or a failure in the banking system generally) be payable at the base rate from time to time of the Seller on the amount unpaid until payment. The Seller may set off 

  

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against the amount due to Raphael Bank as CCIA’s designee in respect of Cardholder Payments, the amount due from Raphael Bank as CCIA’s designee in
respect of the Daily Settlement Amount. 

  

					
	6.5	 	(a)	    	For a period of 24 months after the Assignment Date, the Seller shall provide reasonable assistance to CCIA in relation to a securitisation of the Credit Card Assets. The Seller shall not be
required to make the Seller’s personnel available to attend investor road shows in relation to such a securitisation and CCIA shall pay all out of pocket expenses incurred by the Seller in connection with this clause.

  

	 	(b)	The Purchasers undertake to the Seller that no reference will be made in any offering circular or memorandum or other document prepared for the purposes of securitisation of the
Credit Card Assets to any Seller’s Group Company providing information or accepting any responsibility for information contained in such circular, memorandum or other document. 

  

	 	(c)	The Seller shall not have any liability for any Losses incurred by CCIA or any other person in connection with any assistance provided pursuant to this clause 6.5 save in the
case of fraud or fraudulent misrepresentation. 

  

	6.6	With effect from the date of this Agreement, the Seller shall not take any actions in its capacity as originator or acquirer of the Cardholder Agreements which may adversely affect
the ability of CompuCredit UK, CCIA or Raphael Bank to exercise or enforce any rights of CompuCredit UK, CCIA or Raphael Bank under the Cardholder Agreements including failing to maintain its CCA licence, amending (or purporting to amend) the terms
and conditions applicable to any Cardholder Agreement or making any other communication to the Cardholders in their capacity as Cardholders without the prior written consent of CCIA; provided that for the avoidance of doubt the Seller may take any
action it is directed to take by CCIA either under this Agreement or the Transitional Services Agreement. 

  

	6.7	With effect from Credit Card Completion, and without prejudice to clause 11.1, the Seller and the Purchasers agree that Raphael Bank as CCIA’s designee, will be appointed to
perform, on behalf of the Seller, all of the obligations of the Seller under the Cardholder Agreements to be discharged after Credit Card Completion (including in respect of Raphael Bank as CCIA’s designee, the Seller’s obligation to
provide credit on use of a Credit Card and to honour the terms and conditions of the Cardholder Agreements). 

  

	6.8	The Seller shall continue to provide in-branch payment facilities in respect of the Sale Accounts and new Monument branded accounts at branches of its retail banking business in the
UK for a period of 24 months from Credit Card Completion at a charge of 50.5 pence per payment on a Sale Account or any new Monument branded accounts which shall be payable by CCIA to the Seller. Such in-branch payment facilities shall be operated
in the same manner and to the same standard as in the three months prior to the date of this Agreement, save where the Seller proposes to make a change in the way that it provides in-branch payment facilities to the holders of credit cards issued by
it generally (except that such a change shall not include withdrawal of such in-branch payment facilities), it shall notify CCIA as soon as reasonably practicable and in any event within 20 Business Days prior to making such change and from the date
of such change the in-branch payment facilities offered to CCIA (or Raphael Bank as CCIA’s designee) will be operated in the same manner as those offered by the Seller to the holders of credit cards issued by it. CCIA (or Raphael Bank as
CCIA’s designee) may, during this period, negotiate with the Seller to provide an on-going in-branch payment facility (and such on-going in-branch payment facility may commence before the expiration of the 24 month period referred to in this
clause). If the on-going in-branch payment facility does commence prior to the expiration of the 24 month period, the Seller shall have no further obligation under this clause from the date of commencement of such facility. 

 

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	7.	REIMBURSEMENT AND POST CLOSING PAYMENTS 

  

	7.1	In the event that at any time on or prior to: 

  

	 	(a)	the last day of the sixth month following Credit Card Completion CCIA notifies the Seller in writing that any Monument branded account included on the Signing Date Account List is a
Monument branded account which should have been classified as an Excluded Account or was a Charged-Off Account; or 

  

	 	(b)	the last day of the eighth month following Credit Card Completion CCIA notifies the Seller in writing that any Monument branded account included on the Signing Date Account List is
a Monument branded account which should have been classified as an Excluded Account by falling within sub-paragraph (ii) of paragraph (i) of the definition of Excluded Accounts, 

 and so should not have been included in the Signing Date Account List nor assigned pursuant to clause 2.1 of this Agreement and the Legal Assignment of
Assets, and such Monument branded account is then agreed by the Seller and CCIA (both acting reasonably) or is otherwise determined to be an Excluded Account or a Charged-Off Account (each such account being a “Covered Account”)
then, following such agreement or determination, CCIA may require the Seller to pay CCIA an amount equal to the Covered Account Reimbursement Amount, calculated in the manner set forth in clause 7.4. 
  

	7.2	On or before the fifteenth Business Day of every month, beginning April 2007 through the fifteenth Business Day of the month which is one month after the relevant month specified in
clause 7.1(a) or 7.1(b) following Credit Card Completion, CCIA shall provide the Seller with a monthly statement setting forth the Covered Account Reimbursement Amount (which may include Covered Accounts identified in that month or in previous
months, to the extent not included in a previous monthly statement) owed by the Seller to CCIA and appropriate documentation reasonably satisfactory to the Seller establishing CCIA’s right to reimbursement. 

  

	7.3	 Upon payment of the Covered Account Reimbursement Amount with respect to a Covered Account, the Seller may direct CCIA in writing to close and write off such
Receivables or such Covered Account or to close and sell the Receivables or such Covered Account (or to procure that such Receivables or such Covered Account are closed and written off or closed and sold), as the case may be, provided that, in the
case of a sale, CCIA is not required pursuant to this clause to procure a sale other than to a person designated by the Seller nor to accept any liability to such designated purchaser with respect to such sale (and the Seller shall indemnify CCIA
and Raphael Bank and hold them harmless in respect of all and any liabilities relating to or arising from such sale), to the extent Seller does not repurchase such Receivables or such Covered Account, and to cease all collection activity with
respect to such Receivables or such Covered Account to the extent that the Seller and CCIA reasonably determine that maintaining and collecting on such Receivables or such Covered Account would give rise to Losses with respect to such Receivables or
such Covered Account. Until such direction, CCIA shall endeavour to continue with any collection activity with respect to such Receivable or such Covered Account as would be reasonable in the ordinary course of business. The Seller may elect to
require CCIA to reconvey to the Seller, at the Seller’s cost and expense, the Receivables in such Covered Account and all other Credit Card Assets relating to such Covered Account (or to procure that the Receivables in such Covered Account and
all other Credit Card Assets relating to such Covered Account are 

  

 - 26 - 

	 	 
reconveyed to the Seller, at the Seller’s cost and expense). If requested to do so by CCIA, the Seller shall be required to repurchase a Covered Account
if it falls under paragraph (d) of the definition of “Excluded Accounts”. 

  

	7.4	The Covered Account Reimbursement Amount for the Receivables in each Covered Account shall be an amount equal to the sum of (i) the portion of the Purchase Price paid in
connection with such Covered Account plus (ii) the Daily Settlement Amount for such Covered Account, less (iii) any collections or sale proceeds received by CCIA (or Raphael Bank as its designee) in respect of the Covered Account.

  

	7.5	If: 

  

	 	(a)	the Seller is debited by the Card Scheme Association after the Cut-Off Time for a chargeback in respect of which the Seller provided a Cardholder with a credit on a Sale Account
prior to the Cut-Off Time and the total amount of such debit has not been applied to the Pre-Signing Receivables in calculating the Credit Card Purchase Price pursuant to clause 3, then CCIA agrees to pay to the Seller an amount equal to
(A) 88% in the case of an account treated as a tranche B account in the Signing Statement or (B) 21.5% in the case of an account treated as a tranche C account in the Signing Statement, in each case multiplied by the amount of such debit
(to the extent that it has not been applied to the Pre-Signing Receivables in calculating the Credit Card Purchase Price pursuant to clause 3) by the Card Scheme Association; or 

  

	 	(b)	a cheque from a Cardholder in payment of amounts owed on a Sale Account, which was credited to such Sale Account prior to the Cut-Off Time, is returned unpaid by the drawee after
the Cut-Off Time and the total amount of the returned cheque has not been applied to the Pre-Signing Receivables in calculating the Credit Card Purchase Price pursuant to clause 3, then CCIA agrees to pay to the Seller an amount equal to
(A) 88% in the case of an account treated as a tranche B account in the Signing Statement or (B) 21.5% in the case of an account treated as a tranche C account in the Signing Statement, in each case multiplied by the amount of such
returned cheque (to the extent that it has not been applied to the Pre-Signing Receivables in calculating the Credit Card Purchase Price pursuant to clause 3); or 

  

	 	(c)	CCIA or Raphael Bank as its designee or the Seller provides a credit on a Sale Account after the Cut-Off Time relating to a transaction which occurred prior to the Cut-Off Time
pursuant to the Policies and Procedures or the policies and procedures of CompuCredit UK, as applicable, in compliance with all Applicable Laws and the by-laws, rules and regulations of the Card Scheme Association, with respect to the use of a Sale
Account by a person other than the Cardholder who did not have actual, implied or apparent authority for such use and from which the Cardholder received no benefit prior to the Cut-Off Time and the total amount of such credit has not been applied to
the Pre-Signing Receivables in calculating the Credit Card Purchase Price pursuant to clause 3, then the Seller agrees to pay CCIA an amount equal to (A) 88% in the case of an account treated as a tranche B account in the Signing Statement or
(B) 21.5% in the case of an account treated as a tranche C account in the Signing Statement, in each case multiplied by the amount of such credit (to the extent that it has not been applied to the Pre-Signing Receivables in calculating the
Credit Card Purchase Price pursuant to clause 3), provided that if such credit is reversed CCIA agrees to repay to the Seller the amount paid by the Seller with respect to such credit and if CCIA or Raphael Bank as CCIA’s designee receives an
amount in recovery of such credit, CCIA agrees to repay to the Seller the amount of such recovery; or 

  

 - 27 - 

	 	(d)	an amount received by the Seller prior to the Cut-Off Time and held in a suspense account at the Cut-Off Time is identified after the Cut-off Time as being a payment which should be
posted to a Sale Account and the total amount of such payment has not been applied to the Pre-Signing Receivables in calculating the Credit Card Purchase Price pursuant to clause 3, then the Seller agrees to pay CCIA an amount equal to (A) 88%
in the case of an account treated as a tranche B account in the Signing Statement or (B) 21.5% in the case of an account treated as a tranche C account in the Signing Statement, in each case multiplied by the amount of the payment and CCIA
agrees to credit the relevant Sale Account with the total amount of the payment. 

  

	7.6	Each of the events in clause 7.5 shall be a “Post Closing Payment Event” and the amounts determined above may be netted together to result in either a net amount
due to Seller or a net amount due to CCIA. 

  

	7.7	Any party with knowledge of any facts relating to any Post Closing Payment Event shall provide, or cause to be provided, to the other party written notice and supporting
documentation (to the extent available to such party) in a monthly request. Seller or CCIA (or Raphael Bank as CCIA’s designee), as the case may be, shall, within five (5) Business Days after receipt of such monthly request, reimburse the
other party, in immediately available funds, for the amount of said adjustment together with an additional amount equal to the product of (i) such reimbursed amount, multiplied by (ii) the base rate of the Seller from time to time, divided
by (iii) 365, multiplied by the number of days during the period from and including the date on which such event occurs through and excluding the date of reimbursement. Notwithstanding the foregoing, the parties agree that this clause 7.7 shall
be implemented fairly and equitably so as to avoid the double payment or failure to pay any amount which would result in the unjust enrichment of any party pursuant to the terms hereof. In particular, if payment of the Daily Settlement Amount or a
debit or credit for a returned cheque has taken into account the amount of any debit or credit which falls within clause 7.5, the determination of amounts payable under clause 7.5 shall be calculated on the basis that the Seller and CCIA should be
in the same position as if inclusion of the relevant debit or credit in the Daily Settlement Amount or debit or credit for a returned cheque had not taken place. 

  

	7.8	None of the limitations set out in Schedule 14 shall apply to a Claim for payment of the Covered Account Reimbursement Amount. 

  

	7.9	Any payments made pursuant to this clause 7 shall be deemed to be a repayment of the Purchase Price. 

  

	8.	VAT 

  

	8.1	Save where expressly provided to the contrary, all amounts payable under this Agreement are exclusive of VAT chargeable on the supply or supplies for which such amounts (or any part
of such amounts) are consideration for VAT purposes. 

  

	8.2	Where, under the terms of this Agreement, any person (the “Supplier”) makes or is deemed to make a supply to any other person (the “Recipient”) for
VAT purposes and VAT is or becomes chargeable on such supply, the Recipient shall pay to the Supplier an amount equal to such VAT: 

  

	 	(a)	where the consideration for such supply consists wholly of money, at the same time as paying such consideration; or 

  

	 	(b)	where the consideration does not consist wholly of money, on or before the later of the date 14 days after the date on which such VAT is demanded in writing or when the supply is
made, provided that the Recipient shall first have received a VAT invoice containing the details prescribed in Regulation 14 of the VAT Regulations in respect of the supply. 

  

 - 28 - 

	8.3	The parties intend and believe that the sale of the Infrastructure Assets to CompuCredit UK and the sale of the Credit Card Assets referred to in clause 2.2 to CCIA will be
chargeable to VAT at the standard rate and the sale of the Credit Card Assets referred to in clause 2.1 to Raphael Bank as CCIA’s designee shall be exempt for VAT purposes. 

  

	8.4	Where, under this Agreement, any person (the “Payer”) is required to reimburse any other person (the “Payee”) for any cost, fee, charge,
disbursement or expense (or any proportion of it), the Payer shall also reimburse the Payee for any part of such cost, fee, charge, disbursement or expense (or proportion of it) which represents VAT, save to the extent that the Payee is entitled to
recover such VAT by way of credit or repayment from HM Revenue and Customs. 

  

	8.5	Where the Payer has reimbursed the Payee for any amount under clause 8.4 and it transpires that the Payee is entitled to recover such VAT by way of credit or repayment, the Payee
shall immediately repay such amount to the Payer. 

  

	9.	WARRANTIES 

  

	9.1	The Seller warrants to the Purchasers in the terms of the Warranties as at the date of this Agreement. 

  

	9.2	The Purchasers and the Guarantor warrant to the Seller in the terms of the Purchasers’ Warranties as at the date of this Agreement. 

  

	9.3	In relation to the Warranties it is expressly agreed that: 

  

	 	(a)	the Category 1 Warranties are given subject to no disclosures; and 

  

	 	(b)	the Category 2 Warranties and the Category 3 Warranties are given subject to the matters fairly disclosed in the Disclosure Letter and the Disclosure Documents.

 For these purposes “fairly disclosed” means if, on a review of the Disclosure Letter and/or the Disclosure
Documents (as appropriate), a reasonable purchaser would be or would reasonably be expected to be aware of the specific fact, matter or other information and be in a position to make a reasonably informed assessment of the fact, matter or other
information. 
  

	9.4	In relation to the Category 1 Warranties, the Seller expressly agrees that the actual or constructive knowledge on the part of any member of the Purchaser’s Group or any agent
or adviser of any such member shall not qualify such Warranty and no such knowledge shall prejudice any Claim or operate so as to reduce any amount recoverable in respect of a breach of such Warranty. In relation to the Category 2 Warranties and the
Category 3 Warranties, the Seller expressly agrees that the actual or constructive knowledge on the part of any member of the Purchasers’ Group or any agent or adviser of any such member shall not qualify such Warranty save only for matters
fairly disclosed in the Disclosure Letter and the Disclosure Documents and no such knowledge shall prejudice any Claim or operate so as to reduce any amount recoverable in respect of a breach of such Warranties. In each case, it is expressly agreed
that any Warranty Claim shall be determined and the damages flowing from any breach of Warranty shall also be determined without regard to any actual or constructive knowledge save only as aforesaid. 

  

	9.5	 Save as expressly provided in this Agreement, each of the Warranties set out in each paragraph of Schedule 2 and each of the Purchasers’ Warranties set
out in each 

  

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paragraph of Schedule 3 shall be separate and independent and shall not be limited by reference to any other Warranty or Purchasers’ Warranty or
any other provision of this Agreement. 

  

	9.6	Liability under any Warranty or any other provision of this Agreement shall not be confined to breaches discovered before Final Completion nor in any way be modified or discharged
by Credit Card Completion, Completion or Final Completion and neither Credit Card Completion nor Completion nor Final Completion shall in any way constitute a waiver of any party’s rights. 

  

	9.7	For the purposes of the Warranties, where a Warranty is qualified by reference to the Seller’s knowledge or awareness then the Seller’s knowledge or awareness shall be
deemed to be the actual knowledge or awareness of those persons referred to in Schedule 4. 

  

	9.8	The sole remedy of the Purchasers for any breach of Warranty shall be an action for damages and the Purchasers shall not be entitled to recover damages in tort or for
misrepresentation (other than fraud or fraudulent misrepresentation). 

  

	9.9	Limitations on the Seller’s Liability for a Warranty Claim are set out in Schedule 14. 

  

	9.10	Save in the event of any fraud, fraudulent misrepresentation or wilful default on the part of the relevant Transferring Employee, the Seller agrees with CompuCredit UK and each
Transferring Employee to waive any rights or claims which it may have in respect of any misrepresentation, inaccuracy or omission in or from any information or advice supplied or given by such employee in connection with the giving of the Warranties
and the preparation of the Disclosure Letter. The provisions of this subparagraph: 

  

	 	(a)	may with the prior written consent of CompuCredit UK be enforced by any Transferring Employee against the Seller under the Contracts (Rights of Third Parties) Act 1999; and

  

	 	(b)	may be varied or terminated by agreement between the Seller and CompuCredit UK (and CompuCredit UK may also release or compromise in whole or in part any liability in respect of
rights or claims contemplated by this subparagraph) without the consent of any such Transferring Employee. 

  

	10.	LIMITATION ON CLAIMS 

 The provisions of Schedule 14 set out limitations on the Liability of the Seller and the Purchasers for Claims. 
  

	11.	ASSUMPTION OF ASSUMED LIABILITIES AND APPORTIONMENT OF
BUSINESS RESPONSIBILITY 

  

	11.1	On the terms and subject to the conditions in this Agreement, the Seller directs and CCIA agrees that it shall procure that Raphael Bank as CCIA’s designee shall, upon Credit
Card Completion, assume and thereafter pay, discharge and perform in accordance with their respective terms when due on the Seller’s behalf the following Liabilities and obligations of the Seller, but only to the extent they relate exclusively
to the Credit Card Assets: 

  

	 	(a)	 all duties and obligations under the Cardholder Agreements arising on or after the Cut-Off Time, including in respect of Raphael Bank as CCIA’s designee the
obligation to provide credit on use of a Credit Card and to honour the terms and conditions of the Cardholder Agreements (but without prejudice to any possible or actual Warranty Claim), and including all Liabilities arising after the Cut-Off Time
under the CCA, but for the avoidance of doubt excepting all Liabilities related to 

  

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events occurring before the Cut-Off Time (including any claims made by a Cardholder in respect of the enforceability or lawfulness of any default charges
made under any relevant Sale Account before the Cut-Off Time) for which the Seller shall be solely responsible and subject to clause 11.1(b) and 11.2; 

  

	 	(b)	any Liability of the Seller in relation to claims by Cardholders pursuant to section 75 of the CCA arising in connection with a purchase made before or after the Cut-Off Time,
provided the Seller will indemnify and hold CCIA (and/or Raphael Bank as CCIA’s designee) harmless for any Losses in accordance with clause 11.2; and 

  

	 	(c)	any and all fines or charges imposed at any time on or after the Cut-Off Time by any Card Scheme Association in connection with the ownership of the Sale Accounts, provided the
Seller will indemnify and hold CCIA (and/or Raphael Bank as CCIA’s designee) harmless for any Losses in accordance with clause 11.2; 

  

	 	(d)	any charge-back or credit with respect to the account activity of the Sale Accounts after the Cut-Off Time, provided that the Seller will indemnify and hold CCIA (and/or Raphael
Bank as CCIA’s designee) harmless for any Losses in accordance with clause 11.2; and 

  

	 	(e)	Credit Card Credit Balances subsisting at the Cut-Off Time and future Credit Card Credit Balances in each case arising under the Sale Accounts, 

 The Purchasers shall upon Completion assume as at the Completion Date and shall thereafter pay, discharge and perform in accordance with their respective
terms when due all duties and obligations in respect of which accruals have been made as part of the Infrastructure Assets Apportionment Statement or the Information Technology Infrastructure Assets Apportionment Statement but only to the extent
they relate exclusively to the Business and the Infrastructure Assets in accordance with clauses 11.4 and 11.9. 
 The Liabilities and
obligations expressly assumed by the Purchasers pursuant to this clause 11.1 shall collectively be known as the “Assumed Liabilities” and the Purchasers shall indemnify and hold the Seller harmless against any Losses relating
to any Assumed Liabilities except any Losses to the extent that such Losses fall within the scope of the indemnity provided by the Seller in clause 11.2. For the avoidance of doubt, the Assumed Liabilities shall not include any Liabilities of the
Seller or any member of the Seller’s Group for Taxation relating to the Business, for any Liabilities relating to any other business of the Seller or any member of the Seller’s Group or, save as expressly set out in this clause 11.1,
Liabilities arising prior to the Cut-Off Time (including in relation to any claim made by a Cardholder in respect of the enforceability or lawfulness of any default charges made under any Sale Account before the Cut-Off Time). 
  

	11.2	The Liabilities and obligations of the Seller in respect of the Business and Assets which are not Assumed Liabilities or Post Closing Payment Events pursuant to clause 7.5 and any
Liabilities relating to any other business of the Seller or any member of the Seller’s Group, any Liability for which the Seller is liable for under the Infrastructure Assets Apportionment Statement or the Information Technology Infrastructure
Assets Apportionment Statement and, save as expressly set out in clause 11.1, for Liabilities arising prior to the Cut-Off Time shall collectively be known as “Retained Liabilities”. For the avoidance of doubt, the Seller shall
remain liable for and shall pay, discharge and perform in accordance with their respective terms when due all Retained Liabilities and shall indemnify and hold the Purchasers (and Raphael Bank as CCIA’s designee) harmless against any Losses
relating to any Retained Liabilities and in relation to the following Liabilities: 

  

	 	(a)	all Liabilities in relation to duties and obligations under the Cardholder Agreements which were due to be undertaken or discharged before the Cut-Off Time, including the obligation
to provide credit on use of a Credit Card and to honour the terms and conditions of the Cardholder Agreements, and including all Liabilities arising before the Cut-Off Time under the CCA; 

  

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	 	(b)	any Liability in relation to claims by Cardholders pursuant to section 75 of the CCA arising in connection with a purchase made before the Cut-Off Time; 

  

	 	(c)	any Liability in relation to charge-backs or credits (whether direct debit or otherwise) with respect to the account activity on the Sale Accounts before the Cut-Off Time;

  

	 	(d)	any Liability in relation to any and all fines or charges imposed at any time in relation to acts or omissions before the Cut-Off Time by any Card Scheme Association in connection
with the ownership of the Sale Accounts; 

  

	 	(e)	any liability in relation to any claim by a Cardholder in respect of the enforceability or lawfulness of any default charge made under any relevant Sale Account before the Cut-Off
Time, provided that the Purchasers will deal with such claims under clause 11.12; and 

  

	 	(f)	any Liability which the Seller is responsible for pursuant to the Infrastructure Assets Apportionment Statement, 

 provided that to the extent that clause 7.5 applies to any Liability arising under clauses 11.2(b) or 11.2(c), such Liability shall be dealt with pursuant
to that clause. 
  

	11.3	Subject to the terms of this Agreement, the Assumed Liabilities are assumed by the Purchasers (who may procure that Raphael Bank as CCIA’s designee assumes and/or discharges
the Assumed Liabilities or any of them), in so far as legally permitted, subject to, and so that the Purchasers shall have and be entitled to the benefit of, the same rights, powers, remedies, claims, defences, obligations, conditions and incidents
(including rights of set-off and counterclaim) as the Seller would have enjoyed had the Assumed Liabilities not been assumed by the Purchasers (or Raphael Bank if applicable). 

  

	11.4	All income, expenses and outgoings relating to the Infrastructure Assets (excluding the Information Technology Infrastructure Assets) which are recurring or periodic in nature shall
be apportioned on a time basis between the Purchasers and the Seller, such that: 

  

	 	(a)	the Seller is entitled to the income and is responsible for the expenses and outgoings relating to the period ending immediately prior to the Completion Date (with respect to the
Business and the Infrastructure Assets other than the Information Technology Infrastructure Assets); and 

  

	 	(b)	CompuCredit UK is entitled to the income and responsible for the expenses and outgoings relating to the period commencing on the Completion Date (with respect to the Business and
the Infrastructure Assets other than the Information Technology Infrastructure Assets). 

  

	11.5	All sums to be paid by either party in accordance with clauses 11.4(a) and (b) shall be identified in a statement to be drawn up in accordance with clause 11.6 (the
“Infrastructure Assets Apportionment Statement”). 

  

	11.6	 The draft Infrastructure Assets Apportionment Statement shall be prepared by the Seller and shall identify the items to be apportioned as at the Completion in
accordance with clause 11.4. The provisions of Part B of Schedule 1 shall apply mutatis mutandis to the draft Infrastructure Assets Apportionment Statement save that all references to the 

  

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Signing Statement shall be replaced by Infrastructure Assets Apportionment Statement and all references to Credit Card Completion shall be replaced by
Completion in the case of the Infrastructure Assets Apportionment Statement. 

  

	11.7	All apportionments to be made under clause 11.6 shall be paid by the Seller to the Purchasers or by the Purchasers to the Seller (as applicable) within five Business Days after the
Infrastructure Assets Apportionment Statement has been finally agreed or determined in accordance with Part B of Schedule 1 in cash by telegraphic transfer into the Purchasers’ Account or into the Seller’s Account (as applicable).

  

	11.8	Any income relating to the Infrastructure Assets received by a party to which another party is entitled following Completion shall be held on trust by that party for the other until
payment in accordance with clause 11.7 or, if received after a payment has been made in accordance with clause 11.7, such income shall be paid to the other party in cash by telegraphic transfer into the Purchasers’ Account or into the
Seller’s Account (as applicable) within five Business Days of the relevant party’s receipt of the relevant income. Any payment received by the Seller after Credit Card Completion relating to the Receivables shall be held on trust by the
Seller and paid into the Purchasers’ Account as soon as possible and, in any event, within five Business Days of receipt. 

  

	11.9	All income, expenses and outgoings relating to the Information Technology Infrastructure Assets which are recurring or periodic in nature shall be apportioned on a time basis
between the Purchasers and the Seller, such that: 

  

	 	(a)	the Seller is entitled to the income and is responsible for the expenses and outgoings relating to the period ending immediately prior to the Final Completion Date (with respect to
the Information Technology Infrastructure Assets); and 

  

	 	(b)	CompuCredit UK is entitled to the income and responsible for the expenses and outgoings relating to the period commencing on the Final Completion Date (with respect to the
Information Technology Infrastructure Assets. 

  

	11.10	All sums to be paid by either party in accordance with clauses 11.9(a) and (b) shall be identified in a statement to be drawn up in accordance with clause 11.11 (the
“Information Technology Infrastructure Assets Apportionment Statement”). 

  

	11.11	The draft Information Infrastructure Assets Apportionment Statement shall be prepared by the Seller and shall identify the items to be apportioned as at the Final Completion in
accordance with clause 11.9. The provisions of Part B of Schedule 1 shall apply mutatis mutandis to the draft Information Technology Infrastructure Assets Apportionment Statement save that all references to the Signing Statement shall be replaced by
Information Technology Infrastructure Assets Apportionment Statement and all references to Credit Card Completion shall be replaced by Final Completion in the case of the Information Technology Infrastructure Assets Apportionment Statement.

  

	11.12	All apportionments to be made under clause 11.9 shall be paid by the Seller to the Purchasers or by the Purchasers to the Seller (as applicable) within five Business Days after the
Information Technology Infrastructure Assets Apportionment Statement has been finally agreed or determined in accordance with Part B of Schedule 1 in cash by telegraphic transfer into the Purchasers’ Account or into the Seller’s Account
(as applicable). 

  

	11.13	Any income relating to the Information Technology Infrastructure Assets received by a party to which another party is entitled following Final Completion shall be held on trust by
that party for the other until payment in accordance with clause 11.12 or, if received after a payment has been made in accordance with clause 11.12, such income shall be paid to the other party in cash by telegraphic transfer into the
Purchasers’ Account or into the Seller’s Account (as applicable) within five Business Days of the relevant party’s receipt of the relevant income. 

  

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	11.14	All amounts paid to the Purchasers and due under any contract in respect of commissions relating to the renewal or continuation of cover of insurance products to the Cardholders
where such renewal or continuation of cover relates to an insurance product sold to that Cardholder prior to Credit Card Completion, shall from Credit Card Completion be held by the Purchasers on trust and for the account of the Seller and
transferred by the Purchasers to the Seller as soon as reasonably practicable and in any event within five Business Days. 

  

	11.15	All amounts paid to the Seller and due under any contract in respect of commissions relating to the renewal or continuation of cover of insurance products to the Cardholders where
such renewal or continuation of cover relates to an insurance product sold to that Cardholder on or after Credit Card Completion, shall from Credit Card Completion be held by the Seller on trust and for the account of the Purchasers and transferred
by the Seller to the Purchasers as soon as reasonably practicable and in any event within five Business Days. 

  

	11.16	The Purchaser and the Seller shall use their reasonable endeavours to agree within three months of Credit Card Completion a commercially reasonable method to identify payments due
to the Purchasers or the Seller pursuant to clauses 11.14 or 11.15 and if the Purchasers and the Seller are unable to agree such a method within such time period, clauses 11.14 and 11.15 shall be deemed to not have created any obligation on either
of the Purchasers or the Seller. 

  

	11.17	The provisions of Schedule 12 shall apply to any claims by a Cardholder in respect of the enforceability or lawfulness of any default charge made under any Sale Account before the
Cut-Off Time. 

  

	12.	EMPLOYEES 

  

	12.1	The Seller and CompuCredit UK acknowledge and agree that the TUPE Regulations apply to the transaction contemplated by this Agreement and the Transitional Services Agreement and
that the contract of employment of each Transferring Employee will have effect from the Services Assumption Date as if originally made between CompuCredit UK and the Transferring Employee (except in relation to pension benefits which are to be
provided in accordance with the terms of Schedule 7) and that the collective agreements listed in Supplementary Section I Doc. I.40 of the Disclosure Documents shall have effect between CompuCredit UK and the relevant trade union. CompuCredit UK
further acknowledges its intention to continue to recognise Amicus as provided in the procedural agreement set out in File 23 Document I.015 in the Disclosure Documents. 

  

	12.2	In connection with the transfer under clause 12.1, the parties agree that the Seller will perform and discharge all its obligations in respect of the Transferring Employees and
their representatives relating to the period before the Services Assumption Date. The Seller will indemnify CompuCredit UK against all Losses arising from the Seller’s failure to perform and discharge any such obligations and against any Losses
in respect of the Transferring Employees arising from or as a result of: 

  

	 	(a)	any act of or omission by the Seller or the Seller’s Group occurring before the Services Assumption Date save simply for the accrual of service before that date; and

  

	 	(b)	any failure by the Seller or the Seller’s Group to comply with any requirement of Regulation 13 of the TUPE Regulations except to the extent that such complaint is caused by or
related to a failure by CompuCredit UK to comply with Regulation 13(4) of the TUPE Regulations. 

  

 - 34 - 

	12.3	CompuCredit UK will perform and discharge all obligations in respect of the Transferring Employees for its own account on and after the Services Assumption Date. The Purchasers will
indemnify the Seller and each Seller’s Group Company from and against all Losses arising from CompuCredit UK’s failure to perform and discharge any such obligation and against all Losses arising out of or as a result of:

  

	 	(a)	any act or omission by CompuCredit UK or a Purchasers’ Group Company relating to a Transferring Employee occurring on or after the Services Assumption Date;

  

	 	(b)	any act of discrimination by CompuCredit UK or a Purchaser Group Company relating to a Relevant Employee prior to the Services Assumption Date or any act by CompuCredit UK or a
Purchasers Group Company which causes a Relevant Employee to resign and claim constructive dismissal, as a direct consequence of that act (the “Act”), where both the Act and the resignation occur prior to the Services Assumption
Date; 

  

	 	(c)	subject to clause 12.15, all emoluments and outgoings in relation to the Transferring Employees (including without limitation all salaries or wages, bonuses, PAYE, national
insurance contributions, pension contributions and otherwise) arising on or after the Services Assumption Date in relation to the period after the relevant Services Assumption Date; 

  

	 	(d)	any claim arising out of the provision of, or proposal by, CompuCredit UK or a Purchasers’ Group Company to offer or effect any change to any benefit, term or condition or
working condition of any Transferring Employee arising on or after the Services Assumption Date; 

  

	 	(e)	any failure by CompuCredit UK to comply with Regulation 13(4) of the TUPE Regulations in respect of the transfer of the Transferring Employees on or after the Services Assumption
Date; 

  

	 	(f)	any statement communicated or action done in respect of any Relevant Employee by CompuCredit UK or any Purchasers’ Group Company up to and including the Services Assumption
Date, which has not been discussed in advance with the Seller in accordance with the principles set out in clauses 6.1 to 6.3 of the Transitional Services Agreement; 

  

	 	(g)	any claim by an employee who would have been an Transferring Employee but for the termination of his employment before the Services Assumption Date by reason of his resignation in
connection with any actual or proposed measure (including a proposed change or changes in that employee’s working conditions) which CompuCredit UK or a Purchasers’ Group Company has expressed an intention to take in respect of that
employee or any group of employees which includes that employee 

  

	12.4	

  

	 	(a)	 Subject to clause 12.15 and the provisions of the Transitional Services Agreement, as at the Services Assumption Date, all emoluments and outgoings under or in
connection with the Transferring Employees (including without limitation salaries or wages, bonuses, PAYE, employer’s national insurance contributions and pension contributions in respect of any pensionable service or otherwise) (the
“Transferring Employees’ Costs”) shall be apportioned pro rata in respect of the period prior to the Services Assumption Date and after the 

  

 - 35 - 

	 	 
Services Assumption Date between the Seller and CompuCredit UK (whether or not payable prior to or after the Services Assumption Date) provided that the
amount of Transferring Employees’ Costs comprising bonuses which are apportioned to the Seller shall not exceed the Bonus Cap. 

  

	 	(b)	Clause 12.4(a) shall be without prejudice to CompuCredit UK’s liability to pay any Transferring Employees’ Costs properly due to the Seller as “Charges” within
the meaning of the Transitional Services Agreement provided that the Purchasers shall not be liable to the Seller more than once in respect of the same Transferring Employees’ Costs. 

  

	 	(c)	All sums to be paid by either party in accordance with clause 12.4(a) shall be identified in one or more statements to be drawn up in accordance with clause 12.4(d) (the
“Transferring Employees’ Costs Statement”). 

  

	 	(d)	The draft Transferring Employees’ Costs Statement shall be prepared by the Purchasers and shall identify the items to be apportioned in accordance with clause 12.4(a). Bonuses
may be included in the draft Transferring Employees’ Costs Statement only to the extent paid. The provisions of paragraphs 3 and 4 of Part B of Schedule 1 shall apply mutatis mutandis to the draft Transferring Employees’ Costs Statement
save that all references to the Signing Statement shall be replaced by references to the Transferring Employees’ Costs Statement, all references to the Seller shall be replaced by references to the Purchasers, all references to the Purchasers
shall be replaced by references to the Seller and all references to Credit Card Completion shall be replaced by references to the relevant Services Assumption Date (in relation to all Transferring Employees’ Costs other than bonuses) and the
relevant date on which the bonus is paid (in relation to bonuses). 

  

	 	(e)	All apportionments to be made under clause 12.4(a) shall be paid by the Seller to the Purchasers or by the Purchasers to the Seller (as applicable) within five Business Days after
the Transferring Employees’ Costs Statement has been finally agreed or determined in accordance with Part B of Schedule 1 in cash by telegraphic transfer into the Purchasers’ Account or into the Seller’s Account (as applicable).

  

	 	(f)	The Purchasers will acknowledge the accrued holiday entitlement of the Transferring Employees. The Seller and the Purchasers will agree a schedule of accrued holiday entitlement
prior to each Services Assumption Date (the “Accrued Holiday Entitlement”). The Seller will then reimburse the Purchasers the Accrued Holiday Entitlement amount by way of a deduction from that month’s Charge as defined in
Schedule 5 of the Transitional Services Agreement. 

  

	12.5	If any person other than a Transferring Employee claims that as a result of this Agreement or the Transitional Services Agreement his contract of employment has transferred to
CompuCredit UK (or to a Purchasers’ Group Company) pursuant to the TUPE Regulations the following process shall apply: 

  

	 	(a)	CompuCredit UK shall notify the Seller in writing within seven days of becoming aware of that fact (“Notification”); 

  

	 	(b)	to the extent that such person claims to be employed by CompuCredit UK or a Purchasers’ Group Company, CompuCredit UK or a Purchasers’ Group Company may at its discretion
accept such person’s claim; 

  

	 	(c)	 within 21 days of Notification, provided CompuCredit UK has not accepted such person’s claim the Seller may or may procure that a member of the Seller’s
Group 

  

 - 36 - 

	 	 
will offer employment to such person or may take at its own cost such other steps as it feels necessary to effect a written withdrawal of the claim. If such
offer of employment is accepted, CompuCredit UK shall (or if applicable shall procure that CompuCredit UK’s Group Company) immediately release the person from its employment. 

  

	12.6	If a Transferring Employee claims that as a result of this Agreement his contract of employment has not transferred to CompuCredit UK (or to a Purchasers’ Group Company)
pursuant to the TUPE Regulations the following process shall apply; 

  

	 	(a)	the Seller shall notify CompuCredit UK in writing within seven days of becoming aware of that fact (“Notification”); 

  

	 	(b)	to the extent that such person claims to be employed by the Seller or a Seller’s Group Company, the Seller or a Seller’s Group Company may at its discretion accept such
person’s claim; 

 within 21 days of Notification, provided the Seller has not accepted such person’s claim
CompuCredit UK may or may procure that a Purchasers’ Group Company will offer employment to such person or may take at its own cost such other steps as it feels necessary to effect a written withdrawal of the claim. If such offer of employment
is accepted, the Seller shall (or if applicable shall procure that the Seller’s Group Company shall) immediately release the person from its employment. 
  

	12.7	If no such offer of employment pursuant to clause 12.5 has been made or procured to be made by the Seller or such offer has been made but not accepted or if such person has failed
to withdraw the claim, then CompuCredit UK or CompuCredit UK’s Group Company may terminate the employment of such person within seven days of the expiry of that 28 day period from Notification. 

  

	12.8	If no such offer of employment pursuant to clause 12.6 has been made or procured to be made by CompuCredit UK or such offer has been made but not accepted or if such Transferring
Employee has failed to withdraw the claim, then the Seller or the Seller’s Group Company may terminate the employment of such person within seven days of the expiry of that 28 day period from Notification. 

  

	12.9	Subject to the provisions of clause 12.5 and 12.7 being followed (or the parties acting in any other way as may be agreed between them), the Seller will indemnify CompuCredit UK
against the salary and costs of the contractual benefits of that person’s employment from the relevant Services Assumption Date and the termination of that employment by CompuCredit UK’s Group and all other Losses arising out of any such
claim and/or termination. 

 The indemnity provided in this clause 12.9 shall be limited in the following ways: 
  

	 	(a)	it will cease to apply in relation to any Notification which occurs six months after the Services Assumption Date; 

  

	 	(b)	if any liability under this clause 12.9 arises from and/or is increased due to any act or omission by CompuCredit UK and/or any CompuCredit UK Personnel and/or any Purchasers’
Group Company and which is not a claim for unfair dismissal, the indemnity shall not apply to such proportion of that liability as is attributable to the act or omission of CompuCredit UK and/or any CompuCredit UK Personnel and/or any
Purchasers’ Group Company. 

  

	12.10	 Subject to the provisions of clause 12.6 being followed (or the parties acting in any other way as may be agreed between them), the Purchasers will indemnify the
Seller against the salary and costs of the contractual benefits of the Transferring Employee’s 

  

 - 37 - 

	 	 
employment from the relevant Services Assumption Date and the termination of that employment by the Seller and all other Losses arising out of such claim
and/or termination; 

  

	12.11	The indemnity provided in clause 12.10 shall be limited in the following ways: 

  

	 	(a)	it will cease to apply in relation to any Notification which occurs six months after the Services Assumption Date; 

  

	 	(b)	if any liability under clause 12.10 arises from and/or is increased due to any act or omission by the Seller and/or any Seller Personnel and/or any Seller’s Group Company and
which is not a claim for unfair dismissal, the indemnity shall not apply to such proportion of that liability as is attributable to the act or omission of the Seller and/or any Seller Personnel and/or any Seller’s Group Company.

  

	12.12	Prior to the Services Assumption Date the Seller shall, upon reasonable request by CompuCredit UK and subject to compliance with the Data Protection Legislation, provide CompuCredit
UK with access (on reasonable notice and during normal working hours) to such relevant employment records as they may reasonably require and will allow CompuCredit UK to have copies of any such documents. It is acknowledged that the Seller will be
reviewing such records prior to providing access. 

  

	12.13	It is acknowledged that in view of clause 5.5(c) and 5.6 CompuCredit UK does not require the provision of the employee liability information pursuant to Regulation 11 of the TUPE
Regulations and the Purchasers will indemnify and keep indemnified the Seller against all Losses arising out of or in connection with CompuCredit UK bringing a claim under Regulation 12 of the TUPE Regulations. 

  

	12.14	On the Measures Letter, the Purchasers and the Seller agree as follows: 

  

	 	(a)	other than minor amendments not affecting the substantive proposals set out in the Measures Letter, the Purchasers will not deviate from their proposals as set out in the Measures
Letter save with the agreement of the Seller; 

  

	 	(b)	paragraph 1 of Schedule 16 shall apply; 

  

	 	(c)	the Measures Letter relates to proposals for Transferring Employees only and, for the avoidance of doubt, will not relate to any employees which CompuCredit UK hires following the
Services Assumption Date including any Key Personnel or Pool 3 Employees; and 

  

	 	(d)	CompuCredit UK intends to comply with its obligations to the Transferring Employees under the TUPE Regulations. 

  

	12.15	The Seller agrees to indemnify CompuCredit UK and keep CompuCredit UK fully indemnified against any and all Liabilities, including any PAYE and National Insurance contributions,
relating to and arising out of the participation of the Share Plan Employees in the Share Plans. For the avoidance of doubt, the Seller will account to HM Revenue & Customs for any Secondary Class 1 National Insurance Contributions due in
respect of the participation of the Share Plan Employees in the Share Plans. 

  

	13.	POST COMPLETION COVENANTS 

  

	13.1	 Except as otherwise specifically provided in this Agreement, on and after Credit Card Completion, the Completion Date and the Final Completion Date (as applicable),
the Purchasers shall (and shall procure that Raphael Bank as CCIA’s designee pursuant to clause 11.1 shall), at the Purchasers’ expense, perform such acts (including procuring the 

  

 - 38 - 

	 	 
necessary assistance of third parties) and execute such documents as may be reasonably required after Credit Card Completion, Completion or the Final
Completion (as the case may be) by the Seller to relieve and discharge the Seller from any Assumed Liabilities. 

  

	13.2	Except as otherwise specifically provided in this Agreement, on and after Credit Card Completion, the Completion Date and the Final Completion Date (as applicable), the Seller
shall, at the Seller’s expense, perform such acts (including procuring the necessary assistance of third parties) and execute such documents as may be reasonably required after Credit Card Completion, Completion or the Final Completion Date (as
the case may be) by the Purchasers to relieve and discharge the Purchasers from any Retained Liabilities. 

  

	13.3	The Seller and the Purchasers shall co-operate, to the extent reasonably requested by the other, in the handling and disposition of any action, suit, arbitration, proceeding,
investigation or regulatory inquiry relating to any of the Assets and whether or not pending or threatened prior to Credit Card Completion (with respect to the Credit Card Assets), Completion (with respect to the Infrastructure Assets other than the
Information Technology Infrastructure Assets) and Final Completion (with respect to the Information Technology Infrastructure Assets) which arise out of or which are related to any event or occurrence with respect to the Credit Card Assets prior to
Credit Card Completion, the Infrastructure Assets (other than the Information Technology Infrastructure Assets) prior to Completion and the Information Technology Infrastructure Assets prior to Final Completion. 

  

	13.4	If the Seller becomes aware after Credit Card Completion or Completion (as applicable) of any claim made or likely to be made against the Seller which constitutes or is likely to
constitute an Assumed Liability, the Seller shall as soon as reasonably practicable give written notice of that claim to the Purchasers and shall not admit, compromise, settle, discharge or otherwise deal with such claim without the prior consent of
the Purchasers (such consent not to be unreasonably withheld or delayed). 

  

	13.5	Upon becoming aware of any action, suit or proceeding brought by any person who is not a party to this Agreement which may give rise to a claim or potential claim under which a
party to this Agreement may be entitled to the benefit of an indemnity under clause 11 and/or clause 12 of this Agreement, the person having the benefit of that indemnity (the “Indemnified Party”) shall notify the party liable under
that indemnity (the “Indemnifying Party”) by written notice of that claim, which notice shall include details of the nature and amount, or potential amount, of that claim. 

  

	13.6	Subject to paragraphs (a) to (c) below and clause 13.7, an Indemnifying Party may, at its sole cost and expense, control the defence of any such action, suit or
proceeding. The Indemnified Party shall at all times have the right to participate fully in the defence of any relevant action, suit or proceeding at its own expense and the counsel chosen to conduct such defence shall be such counsel as is
reasonably acceptable to the Indemnified Party, provided that: 

  

	 	(a)	subject to sub-clause (b) and (c) if, in the Indemnified Party’s reasonable opinion, the conduct of the relevant action, suit or proceeding (or any incidental
negotiations) has materially prejudiced, or is likely to materially prejudice, the value of the Receivables or the Goodwill (in the case of CCIA) or the business of any Seller’s Group Company (in the case of the Seller) or the business of any
Purchasers’ Group Company (in the case of CCIA), then the relevant Indemnified Party shall control the defence of any such action, suit or proceeding (at its sole cost); 

  

 - 39 - 

	 	(b)	subject to sub-clause (c), if the conduct of the relevant action, suit or proceeding (or any incidental negotiations) has materially prejudiced, or is likely to materially
prejudice, both (i) the value of the Receivables or the Goodwill of the Business or the goodwill of any business of any member of the Purchaser’s Group and (ii) the goodwill of the business of any member of the Seller’s Group,
then CCIA shall control the defence of any such action, suit or proceeding (at is sole cost); 

  

	 	(c)	no settlement of any action, suit or proceeding may be made by any Indemnifying Party which prejudices or is likely to prejudice, the goodwill of the Indemnified Party without its
prior consent (not to be unreasonably withheld, delayed or conditioned). 

  

	13.7	If an Indemnifying Party does not assume the defence of any action, suit or proceeding in accordance with its right under clause 13.6 within 40 Business Days after delivery of a
notice served on it in accordance with clause 13.5 and proceed to defend such action, suit or proceeding thereafter, the Indemnified Party may assume the defence of such action, suit or proceeding at the cost and expense of the Indemnifying Party.

  

	13.8	An Indemnified Party shall make available to the Indemnifying Party and its counsel and accountants at reasonable times and for reasonable periods, during normal business hours, all
books and records of the Indemnified Party relating to any such possible claim for indemnification, and each of the Indemnified Party and the Indemnifying Party will render to the other such assistance as it may reasonably require of the other to
ensure prompt and adequate defence of any suit, claim or proceeding. 

  

	13.9	Each of the Indemnified Party and the Indemnifying Party shall render to the other such assistance as may be reasonably required in order to ensure the proper and adequate defence
of any such action, suit or proceeding. Neither the Seller nor the Purchasers shall admit any Liability or make a settlement of any claim for which indemnity is or will be sought without the written consent of the other, which consent shall not be
unreasonably withheld or delayed. 

  

	13.10	For the avoidance of doubt, the Seller (to the extent that such Records, Copy Records and any other information are in the possession or control of or held on behalf of any member
of the Seller’s Group) and the Purchasers shall preserve and keep all Records, Copy Records and all other information relating to the accounting, business, financial and Tax affairs of the Business in existence on the Final Completion Date or
that come into existence after the Final Completion Date but which relate to the Business prior to the Final Completion Date for such period, not less than six years: 

  

	 	(a)	as may be required by a Governmental Authority or Applicable Laws; 

  

	 	(b)	as may be reasonably necessary with respect to the prosecution or defence of any audit, suit, action, litigation or administrative arbitration or other proceeding or investigation
that is then pending or threatened and which it is aware; or 

  

	 	(c)	that is equivalent to the period established by any applicable statute of limitations (or any extension or waiver of it) with respect to matters pertaining to Taxation.

  

	13.11	 Subject to clause 23.11, the Seller and the Purchasers (or their representatives) shall provide access to the other, and shall permit the other, at the other’s
expense, to take copies of, the Records, the Copy Records and all other information relating to the accounting, business, financial and Tax affairs of the Business that the Seller or the Purchasers is obliged to preserve and keep pursuant to clause
13.10 on being given reasonable notice requesting such access or copies. In addition, but subject to clause 23.11, the Seller and the Purchasers shall procure access by the other to any employees of the Seller’s Group and any employees of the
Purchasers’ Group, respectively, on being 

  

 - 40 - 

	 	 
given reasonable notice requesting such access, as may be reasonably necessary for the purposes of any audit, suit, action, litigation or administrative
arbitration or other third party proceeding or investigation by any Governmental Authority or in connection with the Seller’s or the Purchasers’ right of access to the Records and other information set out in this clause.

  

	13.12	Each party shall promptly following receipt thereof give to the other a copy of all payments, notices, correspondence, information or enquiries in relation to the Credit Assets
which it receives after Credit Card Completion and in relation to the Business or the Infrastructure Assets which it receives after Completion and which belongs to the other. 

  

	13.13	The Seller agrees with the Purchasers that the Seller shall not and shall procure that no Seller’s Group Company shall save as permitted under the Transitional Services
Agreement and this Agreement in any capacity: 

  

	 	(a)	after Credit Card Completion sell (or purport to sell) the Signing Date Account List in whole or in part to any third party; 

  

	 	(b)	for a period of 3 years after Credit Card Completion: (i) provide the Signing Date Account List in whole or in part to any third party; or (ii) use the Signing Date
Account List in whole or in part for the purpose of soliciting any Cardholder for any product, including any credit card, whether indirectly or indirectly; or (iii) use any of the information relating exclusively to Cardholders derived from the
Customer Data and Files or the Signing Date Account List to conduct marketing activities directed solely or primarily at the Cardholders for any product including any credit card provided that this clause 13.13 shall not restrict the Seller or any
Seller’s Group Company from conducting any marketing activities using any information other than derived from the Signing Date Account List or the Customer Data and Files (including information acquired from a third party or information derived
from a Cardholder by reason of that Cardholder also being or becoming a customer in a capacity other than a Cardholder of any Seller’s Group Company); or 

  

	 	(c)	save as permitted in the Licence Back, at any time after Credit Card Completion use or permit (or purport to permit) any third party to use the name “Monument” or any
other name intended or likely to be confused with such a name; or 

  

	 	(d)	for a period of 18 months after Completion induce or attempt to induce any person who is a Transferring Employee or Key Personnel to leave the employment of CompuCredit UK (or any
member of the Purchasers’ Group who may employ any such Transferring Employee or Key Personnel from time to time) provided that this clause does not prevent the Seller or any Seller’s Group Company from recruiting any Transferring Employee
or Key Personnel by means of a general advertising campaign. 

  

	13.14	Notwithstanding the provisions of clause 13.13, the Seller undertakes that as from Credit Card Completion it shall not use and shall procure that no member of the Seller’s
Group shall use any Personal Data contained in or derived from the Signing Date Account List or Customer Data and Files in contravention of Data Protection Legislation without any limitation in time. 

  

	13.15	If the Seller enters into an Authorised Guarantee Agreement in connection with the assignment of the Property Lease, the Purchasers will indemnify the Seller from and against any
and all Losses which the Seller incurs (directly or indirectly) in relation to the Authorised Guarantee Agreement. 

  

	13.16	The provisions of Schedule 15 shall apply in relation to Unenforceability Allegations. 

  

 - 41 - 

	14.	CONFIDENTIALITY 

  

	14.1	Each party shall, and shall procure that each Seller’s Group Company or, as the case may be, Purchasers’ Group Company shall, treat as confidential all information
obtained as a result of entering into, performing or enforcing its rights under this Agreement which relates to: 

  

	 	(a)	the provisions of this Agreement; 

  

	 	(b)	the negotiations relating to this Agreement; or 

  

	 	(c)	the other parties. 

 This clause shall not apply in the
circumstances described in clause 14.3. 
  

	14.2	Each party shall, and shall procure that each Seller’s Group Company or, as the case may be, Purchasers’ Group Company shall: 

  

	 	(a)	not disclose any such confidential information to any person other than any of its directors or employees who needs to know such information in order to discharge his duties;

  

	 	(b)	not use any such confidential information other than for the purpose of performing its obligations or exercising its rights under this Agreement; and 

  

	 	(c)	procure that any person to whom any such confidential information is disclosed by it complies with the restrictions equivalent to those contained in this Agreement.

  

	14.3	Each party (including any Seller’s Group Company or Purchasers’ Group Company) may disclose information which would otherwise be confidential: 

  

	 	(a)	if and to the extent required by law or for the purpose of any judicial proceedings; 

  

	 	(b)	if and to the extent required by existing contractual obligations in existence at the date of this Agreement; 

  

	 	(c)	if and to the extent required by any securities exchange or regulatory or governmental body to which that party is subject, wherever situated, including (without limitation) the FSA
or SEC, whether or not the requirement for information has the force of law; 

  

	 	(d)	if and to the extent required to vest the full benefit of this Agreement in that party; 

  

	 	(e)	to its professional advisers, auditors and bankers; 

  

	 	(f)	if and to the extent the information has come into the public domain through no fault of that party; 

  

	 	(g)	to members of the Seller’s Group or, as the case may be, the Purchasers’ Group; 

  

	 	(h)	if and to the extent the other parties have given prior written consent to the disclosure; or 

  

	 	(i)	the matters dealt with in paragraph 2 of Schedule 16. 

  

	14.4	Notwithstanding clauses 14.1 to 14.3, any Purchasers’ Group Company (and/or Raphael Bank) may disclose information: 

  

	 	(a)	 to Bank of America and CompuCredit Corporation (or any other lender, sponsor, promoter or underwriter) in respect of any securitisation or any other financing of

  

 - 42 - 

	 	 
any of the Credit Card Assets; provided that such information is disclosed to such person on the basis that such person complies with restrictions equivalent
to those contained in this Agreement. 

  

	 	(b)	to Raphael Bank (as CCIA’s designee) in respect of the transfer and ongoing operation of the Sale Accounts; provided that such information is disclosed to Raphael Bank (as
CCIA’s designee) on the basis that Raphael Bank (as CCIA’s designee) complies with restrictions equivalent to those contained in this Agreement; 

  

	 	(c)	to the Card Scheme Association in respect of the transfer and ongoing operation of the Sale Accounts; 

  

	 	(d)	to any relevant rating agency in respect of any securitisation of the Credit Card Assets; and 

  

	 	(e)	in the form of a short summary of this Agreement to the extent and only to the extent required to be disclosed in any offering circular or marketing materials relating to the
securitisation of any of the Credit Card Assets by Applicable Laws or in order to comply with market standard behaviour in relation to proper disclosure. 

  

	14.5	The restrictions contained in this clause shall continue to apply after the termination of this Agreement without limit in time. 

  

	15.	ANNOUNCEMENTS 

  

	15.1	Subject to clauses 6.1 and 15.2, no announcement concerning the transactions contemplated by this Agreement shall be made by any party without the prior written consent of the other
parties. 

  

	15.2	Each party may, after consultation (to the extent permissible) with the other parties, make an announcement concerning the transaction contemplated by this Agreement if required by:

  

	 	(a)	Applicable Laws; or 

  

	 	(b)	any securities exchange or regulatory or governmental body to which that party is subject or submits, wherever situated, including (without limitation) the FSA and the SEC, whether
or not the requirement has the force of law. 

  

	15.3	The restrictions contained in this clause shall continue to apply after the termination of this Agreement without limit in time. 

  

	16.	FURTHER ASSURANCE AND AVAILABILITY OF INFORMATION

  

	16.1	 If and to the extent that title to any of the Assets is not effectively vested in CCIA, Raphael Bank as CCIA’s designee or CompuCredit UK (as applicable) at
Credit Card Completion, Completion or Final Completion (as applicable) in accordance with the terms of this Agreement, then the Seller shall hold them in trust for CCIA (or Raphael Bank as CCIA’s designee) until title is effectively so vested
in CCIA, Raphael Bank as CCIA’s designee or CompuCredit UK (as applicable). The Seller shall, at its sole expense, perform, or use its reasonable endeavours to procure the performance of, such acts and execute and/or procure the execution of
such documents as may be reasonably required by CCIA or CompuCredit UK (including, if necessary, assisting CCIA or Raphael Bank as CCIA’s designee to enforce the obligations of the Cardholder Agreements against Cardholders 

  

 - 43 - 

	 	 
(provided that CCIA shall bear the full cost of any such enforcement action without prejudice to any relevant Warranty Claim)) on or after Credit Card
Completion, Completion or Final Completion by the Purchasers (or Raphael Bank as CCIA’s designee) for vesting in the Purchasers (or Raphael Bank as CCIA’s designee) the legal and beneficial ownership of the Assets and the Business and to
obtain the full benefit of the same and to assure to the Purchasers (or Raphael Bank as CCIA’s designee) the rights agreed to be granted to them under, and give full effect to, this Agreement, provided that if CCIA (or Raphael Bank as its
designee) wishes to arrange for the re-signature of Cardholder Agreements following Credit Card Completion, that shall be at CCIA’s sole expense. 

  

	16.2	For the avoidance of doubt, the parties hereby acknowledge, agree and confirm for all purposes that the benefit of the Cardholder Agreements shall be assigned to Raphael Bank as
CCIA’s designee subject always to clause 2.5 and to the Purchaser’s obligations under clause 11 in respect of the burden of the Cardholder Agreements and no party intends to, or shall be obliged to, novate the Cardholder Agreements on
Credit Card Completion. 

  

	16.3	The Seller shall make available to the Purchasers all information in its possession or under its control which the Purchasers may from time to time reasonably require (before or
within five years following Completion) which relates to the Business or the Assets and shall permit the Purchasers and their representatives to have access to and take copies of all documents or other materials containing only such information on
reasonable written notice from the Purchasers during normal business hours. 

  

	16.4	The Seller and the Purchasers shall co-operate in good faith to minimise any costs and expenses payable under this clause by either party. 

  

	16.5	Without prejudice to the preceding provisions of this clause 16 each party shall use its reasonable endeavours to take, or cause to be taken, all such actions and do, or cause to be
done, all things proper, necessary or advisable to give effect to the transactions contemplated by this Agreement and the documents referred to herein including, in the Seller’s case, enforcing any rights that it has against a Predecessor.

  

	16.6	Except as otherwise provided in this Agreement or in the Transitional Services Agreement, the Seller shall take no action after Credit Card Completion that would be inconsistent
with the effective transfer by the Seller to CCIA (or Raphael Bank as CCIA’s designee) of the Seller’s entire right, title and interest in and to the Credit Card Assets, shall take no action after Completion which would be inconsistent
with the effective transfer by the Seller to CompuCredit UK of the Seller’s entire right, title and interest in and to the Infrastructure Assets (other than the Information Technology Infrastructure Assets) and shall take no action after Final
Completion which would be inconsistent with the effective transfer by the Seller to CompuCredit UK of the Seller’s entire right, title and interest in and to the Information Technology Infrastructure Assets. 

  

	17.	PROPERTY AND CAPITAL ALLOWANCES 

  

	17.1	The provisions of Schedule 6 shall apply in relation to the Property. 

  

	17.2	£1 of the Purchase Price is apportioned to the fixtures to the Property (the “Fixtures”). The provisions of clauses 17.2 and 17.3 are to apply to the Fixtures
for the purposes of capital allowances on machinery and plant under Part 2 Chapter 14 Capital Allowances Act 2001 as the same may be amended, re-enacted or consolidated from time to time. 

  

	17.3	 The Seller and the Purchasers will jointly make a valid election at Completion using the form of election in Schedule 9 in accordance with section 198 Capital
Allowances Act 2001 to treat the £1 of the Purchase Price as attributed to the Fixtures as the price given 

  

 - 44 - 

	 	 
and received from the Fixtures by the Purchasers and the Seller respectively and each will notify the appropriate officer of HMRC and its Inspector of Taxes
(if different) of the election accordingly. 

  

	18.	PENSIONS 

 The
provisions of Schedule 7 shall apply in relation to pension arrangements. 
  

	19.	ASSIGNED CONTRACTS 

  

	19.1	Subject to clause 19.4(c), from Final Completion: 

  

	 	(a)	CompuCredit UK shall be entitled to the benefit (subject to the burden) of the Assigned Contracts; 

  

	 	(b)	CompuCredit UK shall perform all the Seller’s obligations to be performed from Completion under each Assigned Contract; and 

  

	 	(c)	the Purchasers shall indemnify, and keep indemnified, the Seller on demand against all Losses which the Seller incurs as a result of a claim from a counter-party to an Assigned
Contract due to CompuCredit UK’s act or omission in connection with CompuCredit UK’s performance of the Seller’s obligations under each Assigned Contract after Final Completion (including each Loss incurred as a result of defending or
settling a claim alleging such a Liability). 

  

	19.2	Nothing in this Agreement shall: 

  

	 	(a)	require CompuCredit UK to perform any obligation falling due for performance or which should have been performed before Final Completion; or 

  

	 	(b)	make CompuCredit UK liable for any act, neglect, default or omission in respect of any of the Assigned Contracts prior to Final Completion or for any Losses arising from any failure
to obtain the consent or agreement of any third party to the entry into of this Agreement or from any breach of any of the Assigned Contracts caused by this Agreement or its completion. 

  

	19.3	The Seller shall indemnify, and keep indemnified, CompuCredit UK on demand against all Losses which CompuCredit UK incurs as a result of the Seller’s act or omission in
connection with the Seller’s performance of its obligations under each Assigned Contract before Final Completion (including each Loss incurred as a result of defending or settling a claim alleging such Liability). 

  

	19.4	If the benefit or burden of any Assigned Contract cannot effectively be assigned to CompuCredit UK except by an agreement or novation with or consent to the assignment from the
person, firm or company concerned then: 

  

	 	(a)	this Agreement shall not constitute an assignment or an attempted assignment of the Assigned Contract if an assignment or attempted assignment would constitute a breach of the
Assigned Contract; 

  

	 	(b)	prior to Final Completion the Purchasers and the Seller shall use reasonable endeavours to procure such assignment or novation of the Assigned Contract on, or as soon as practicable
after, Completion; and 

  

	 	(c)	 following Final Completion until the earliest of the date on which the Assigned Contract is assigned or novated or the Assigned Contract is terminated, the Seller
shall hold it in trust for CompuCredit UK absolutely and CompuCredit UK shall 

  

 - 45 - 

	 	 
perform, to the extent that it is lawfully able to do so, the Seller’s obligations under the Assigned Contract as agent or sub-contractor or otherwise
and the Purchasers shall indemnify the Seller in respect of any failure on the part of CompuCredit UK to perform or properly perform those obligations. To the extent that CompuCredit UK is not lawfully able to do so, the Seller shall continue to
perform the Seller’s obligations under the Assigned Contract in which case the Purchasers shall reimburse the Seller’s costs in doing so (insofar as such obligations relate to the Assigned Contract) and to provide for CompuCredit UK the
benefit of the Assigned Contract (including enforcement of a right of the Seller against another party to the Assigned Contract arising out of its termination by the other party or otherwise) and the Purchasers shall indemnify and hold harmless the
Seller for all Losses arising from the proper performance of the Seller’s obligations hereunder. 

  

	19.5	If the arrangements in clause 19.4(b) and 19.4(c) cannot be made in respect of the Assigned Contract prior to 30 June 2008 the Seller shall use reasonable endeavours to ensure
that the Assigned Contract is terminated without Liability to the Seller or CompuCredit UK, and if it is so terminated, then neither the Seller nor CompuCredit UK has any further obligation to the other relating to the Assigned Contract.

  

	20.	SUCCESSORS AND ASSIGNMENT 

  

	20.1	Save as provided in clause 20.2, no party to this Agreement may assign any of its rights under this Agreement to any person, without the prior written consent of the other parties.

  

	20.2	The Purchasers (or either of them) may assign the benefit of this Agreement to any other Purchasers’ Group Company for the time being and if it does so:

  

	 	(a)	the assignee may enforce the obligations on the part of the Purchasers (or the relevant one of them) under this Agreement (including the Warranties) as if it had been named in this
Agreement as a Purchaser (provided that written notice of the assignment has been provided to the Seller); 

  

	 	(b)	if the assignee ceases to be a member of the Purchasers’ Group for the time being, CCIA shall procure that the benefit of this Agreement is re-assigned to the relevant
Purchaser or assigned to another member of the Purchasers’ Group for the time being; and 

  

	 	(c)	the assignee shall not be entitled to receive under this Agreement any greater amount than that to which the Purchasers (or the relevant one of them) would have been entitled.

  

	20.3	The Seller may assign the benefit of this Agreement to any other member of the Seller’s Group for the time being and if it does so: 

  

	 	(a)	the assignee may enforce the obligations on the part of the Seller under this Agreement (including the Purchasers’ Warranties) as if it had been named in this Agreement as the
Seller (provided that written notice of the assignment has been provided to the Purchasers); 

  

	 	(b)	if the assignee ceases to be a member of the Seller’s Group for the time being, the Seller shall procure that the benefit of this Agreement is re-assigned to the Seller or
assigned to another member of the Seller’s Group for the time being; 

  

	 	(c)	the assignee shall not be entitled to receive under this Agreement any greater amount than that to which the Seller would have been entitled; and 

  

 - 46 - 

	 	(d)	as between the Seller and the Purchasers, the Purchasers may nevertheless enforce this Agreement against the Seller as if that assignment had not occurred. 

 

	21.	NOTICES 

  

	21.1	Any notice given under this Agreement must be given in writing and sent or delivered by hand, post, or facsimile to the other parties at the address provided that any:

  

	 	(a)	notice delivered by hand shall be deemed to have been given when deposited at the appropriate address; 

  

	 	(b)	notice sent by post shall be deemed to have been given 48 hours after a first class registered letter is posted to the appropriate address; 

  

	 	(c)	notice sent by facsimile shall be deemed to have been given on transmission to the correct number; and 

  

	 	(d)	notice sent by e-mail shall be deemed to have been given when sent, 

 provided that if, in accordance with the above provisions, any such notice or other communication would otherwise be deemed to be given or made outside normal working hours (being, unless otherwise agreed, 9.00 a.m.
to 5.30 p.m. on a Business Day), such notice or other communication shall be deemed to be given or made at the start of the next period of working hours on the next Business Day. 
  

	21.2	The relevant addressee, address, facsimile number and e-mail address of each party for the purposes of this Agreement are: 

 The Seller 
  

			
	For the attention of Amer Sajed, Managing Director, UK Cards
		
	Address:	  	 UK Cards, Barclaycard, Barclaycard House
 1234
Pavilion Drive
 Northampton NN4 7SG

	Telephone no:	  	+44 1604 234 234
	Facsimile no:	  	+44 1604 256 822
	
	cc: Mark Edwards, General Counsel, Barclaycard
		
	Address:	  	 Barclaycard, Barclaycard House
 1234 Pavilion Drive

 Northampton NN4 7SG

	Telephone no:	  	+44 1604 234 234
	Facsimile no:	  	+44 1604 256 822
	
	cc: The Company Secretary
		
	Address:	  	 Barclays Bank PLC
 1 Churchill Place
 London E14 5HP

	Telephone no:	  	+44 207 116 1000
	Facsimile no:	  	+44 207 116 7665

  

 - 47 - 

 CompuCredit UK 
  

			
	For the attention of The Directors
		
	Address:	  	 CompuCredit UK Limited
 c/o Fleetside Legal
Representative Services Limited
 One Bishops Square
 London
 E1 6A0

		
	Telephone no:	  	+1 (702) 598-3738
	Facsimile no:	  	+ 1 (702) 598-3651
		
	cc:	  	Joshua C. Miller, Assistant Secretary
		
	Address:	  	 CompuCredit International Acquisition Corporation
 101
Convention Centre Drive
 Suite 850-33A
 Las Vegas, NV
89109

		
	Telephone No:	  	+1 (702) 598-3738
	Facsimile No:	  	+ 1 (702) 598-3651
		
	cc:	  	For the attention of Mark Wippell
		
	Address:	  	 Allen & Overy, LLP
 One Bishops Square
 London
 E1 6AO

		
	Telephone no:	  	+44 20 3088 3000
	Facsimile no:	  	+44 20 3088 0088

 CCIA and the Guarantor 
  

			
	For the attention of Joshua C. Miller, Assistant Secretary
		
	Address:	  	 CompuCredit International Acquisition Corporation
 101
Convention Centre Drive
 Suite 850-33A
 Las Vegas,
NV89109

		
	Telephone no:	  	+ 1 (702) 598-3738
	Facsimile no:	  	+ 1 (702) 598-3651
		
	cc:	  	The Directors
		
	Address:	  	 CompuCredit UK Limited
 c/o Fleetside Legal
Representative Services Limited
 One Bishops Square
 London
 E1 6A0

		
	Telephone no:	  	+ 1 (702) 598-3738
	Facsimile no:	  	+ 1 (702) 598-3651
		
	cc:	  	For the attention of Mark Wippell

  

 - 48 - 

			
		
	Address:	  	 Allen & Overy, LLP
 One Bishops Square

London
 E1 6AO

		
	Telephone no:	  	+44 20 3088 3000
	Facsimile no:	  	+44 20 3088 0088

 or as otherwise notified to the other parties in writing from time to time. 
  

	22.	ENTIRE AGREEMENT AND VARIATION 

  

	22.1	This Agreement and the documents referred to in it constitute the whole and only agreement as at the date hereof between the parties with respect to the subject matter described in
this Agreement. 

  

	22.2	This Agreement and the documents referred to in it supersede and extinguish any prior drafts, agreements, undertakings, representations, warranties, promises, assurances and
arrangements of any nature whatsoever, whether or not in writing, relating to the subject of this Agreement. 

  

	22.3	Each party acknowledges that in entering into this Agreement on the terms set out in this Agreement, it is not relying upon any representation, warranty, promise or assurance made
or given by the other parties or any other person, whether or not in writing, at any time prior to the execution of this Agreement which is not expressly set out herein. 

  

	22.4	Any variation of this Agreement shall not be binding on the parties unless set out in writing, expressed to vary this agreement and signed by authorised representatives of each of
the parties. 

  

	23.	GENERAL PROVISIONS 

  

	23.1	Time shall not be deemed to be of the essence in this Agreement. 

  

	23.2	No failure, delay or indulgence on the part of any party in exercising any power or right under this Agreement shall operate as a waiver of such power or right.

  

	23.3	If any provision of this Agreement or any part of any such provision is held to be invalid, unlawful or unenforceable, such provision or part (as the case may be) shall be
ineffective only to the extent of such invalidity, unlawfulness or unenforceability, without rendering invalid, unlawful or unenforceable or otherwise prejudicing or affecting the remainder of such provision or any other provision of this Agreement.

  

	23.4	Nothing in this Agreement and no action taken by the parties under this Agreement shall constitute a partnership, association, joint venture or other co-operative entity between any
of the parties. 

  

	23.5	This Agreement may be executed in any number of counterparts, and by the parties on separate counterparts, but shall not be effective until each party has executed at least one
counterpart. Each counterpart shall constitute an original of this Agreement, but all the counterparts shall together constitute but one and the same instrument. 

  

	23.6	Save as provided herein, all payments to be made under this Agreement shall be made in full. They will be free and clear of any right of set-off and from any restriction, condition
or deduction because of any counterclaim. 

  

 - 49 - 

	23.7	If any party fails to pay any sum payable by it under this Agreement on the due date for payment, it shall pay interest on that sum for a period from and including the due date up
to the date of actual payment (after as well as before judgement) at a rate of two per cent. above the base rate from time to time of the Seller. Such interest shall be payable on demand and any accrued interest shall, if not paid by the end of each
month, be added to the principal sum and shall itself then bear interest in accordance with this clause until the date of actual payment. 

  

	23.8	Except as otherwise provided in this Agreement, each party shall pay its own costs and expenses in relation to the negotiation, preparation, execution and carrying into effect of
this Agreement. 

  

	23.9	The provisions of clause 2.5, 5.10, 7 and 11 may, with the prior written consent of CCIA, be enforced by Raphael Bank against the Seller under the Contracts (Rights of Third
Parties) Act 1999. 

  

	23.10	Except as otherwise expressly stated in this Agreement, no party who is not a party to this Agreement shall have any right under the Contracts (Rights of Third Parties) Act 1999 to
enforce any terms of it. 

  

	23.11	Notwithstanding any other provision of this Agreement, once notice of a Claim has been served on a party to this Agreement, the provision of information and/or documentation in
relation to such Claim by all parties shall be governed by the normal rules of disclosure in respect of actual or potential litigation. 

  

	24.	GUARANTEES 

  

	24.1	In consideration of the Seller agreeing to sell the Infrastructure Assets to CompuCredit UK at the request of CCIA, CCIA irrevocably and unconditionally: 

 

	 	(a)	guarantees to the Seller the full, prompt and complete performance by CompuCredit UK of all its obligations under this Agreement and the due and punctual payment on demand of all
sums now or subsequently due and payable by CompuCredit UK to the Seller under or pursuant to this Agreement; and 

  

	 	(b)	agrees as primary obligor to indemnify the Seller on demand from and against any Losses incurred by the Seller as a result of any of the obligations of CompuCredit UK under or
pursuant to this Agreement being or becoming void, voidable, unenforceable or ineffective as against CompuCredit UK for any reason whatsoever, whether or not known to the Seller, the amount of such Loss being the amount which the Seller would
otherwise have been entitled to recover from CompuCredit UK. 

  

	24.2	The guarantee contained in clause 24.1 is a continuing guarantee and shall remain in force until all the obligations of CompuCredit UK under this Agreement have been fully performed
and all sums payable by CompuCredit UK have been fully paid. It is independent of every other security which the Seller may at any time hold for the obligations of CompuCredit UK under this Agreement. 

  

	24.3	The obligations of CCIA shall not be affected by any act, omission, matter or thing which, but for this provision, might operate to release or otherwise exonerate CCIA from its
obligations or affect such obligations, including without limitation and whether or not known to CCIA: 

  

	 	(a)	any variation of this Agreement or any time, indulgence, waiver or consent at any time given to CompuCredit UK or any other person; 

  

 - 50 - 

	 	(b)	any compromise or release of, or abstention from obtaining, perfecting or enforcing any security or other right or remedy whatsoever from or against, CompuCredit UK or any other
person; 

  

	 	(c)	any legal limitation, disability, incapacity or other circumstance relating to CompuCredit UK or any other person; or 

  

	 	(d)	any irregularity, unenforceability or invalidity of any obligations of CompuCredit UK under this Agreement, or the dissolution, amalgamation, reconstruction or insolvency of
CompuCredit UK. 

  

	24.4	The guarantee contained in clause 24.1 may be enforced by the Seller without the Seller first taking any steps or proceedings against CompuCredit UK. 

  

	24.5	In consideration of the Seller agreeing to sell the Business to the Purchasers at the request of the Guarantor, the Guarantor irrevocably and unconditionally:

  

	 	(a)	guarantees to the Seller the full, prompt and complete performance by each of the Purchasers of all their obligations under this Agreement and the due and punctual payment on demand
of all sums now or subsequently due and payable by the Purchasers to the Seller under or pursuant to this Agreement; and 

  

	 	(b)	agrees as primary obligor to indemnify the Seller on demand from and against any Losses incurred by the Seller as a result of any of the obligations of either or both of the
Purchasers under or pursuant to this Agreement being or becoming void, voidable, unenforceable or ineffective as against either or both of the Purchasers for any reason whatsoever, whether or not known to the Seller, the amount of such Loss being
the amount which the Seller would otherwise have been entitled to recover from the Purchasers. 

  

	24.6	The guarantee contained in clause 24.5 is a continuing guarantee and, subject to clause 24.9, shall remain in force until the earlier of the dates on which (i) both the BIN has
been transferred from the Seller to Raphael Bank and CCIA has issued or procured the issue of replacement credit cards to all Cardholders bearing the name of Raphael Bank as CCIA’s designee in place of the existing Credit Cards; and
(ii) all the obligations of the Purchasers under this Agreement have been fully performed and all sums payable by the Purchasers have been fully paid (the “Termination Date”). It is independent of every other security which the
Seller may at any time hold for the obligations of the Purchasers under this Agreement. 

  

	24.7	The obligations of the Guarantor shall not be affected by any act, omission, matter or thing which, but for this provision, might operate to release or otherwise exonerate the
Guarantor from its obligations or affect such obligations, including without limitation and whether or not known to the Guarantor: 

  

	 	(a)	any variation of this Agreement or any time, indulgence, waiver or consent at any time given to either or both of the Purchasers or any other person; 

  

	 	(b)	any compromise or release of, or abstention from obtaining, perfecting or enforcing any security or other right or remedy whatsoever from or against, either or both of the
Purchasers or any other person; 

  

	 	(c)	any legal limitation, disability, incapacity or other circumstance relating to either or both of the Purchasers or any other person; or 

  

	 	(d)	any irregularity, unenforceability or invalidity of any obligations of either or both of the Purchasers under this Agreement, or the dissolution, amalgamation, reconstruction or
insolvency of either or both of the Purchasers. 

  

 - 51 - 

	24.8	The guarantee contained in clause 24.5 may be enforced by the Seller without the Seller first taking any steps or proceedings against either or both of the Purchasers.

  

	24.9	The guarantee contained in clause 24.5 shall terminate on the Termination Date and thereafter the Guarantor shall have no liability or obligation under and shall be fully released
from any liabilities or obligations it then has or might otherwise have had under this Agreement save that such termination shall be without prejudice to any rights of the Seller in respect of any liability or obligation of the Guarantor which has
arisen prior to or on the Termination Date. 

  

	25.	GOVERNING LAW, JURISDICTION AND SERVICE OF PROCESS

  

	25.1	This Agreement shall be governed and construed in accordance with English law. 

  

	25.2	The English courts have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement or the legal relationships established by this Agreement
(“Dispute”). Any proceeding, suit or action arising out of or in connection with this Agreement may therefore be brought in the English Courts. Each party agrees that this jurisdiction agreement is irrevocable and that it is for the
benefit of the other parties and the parties submit to the exclusive jurisdiction of the English courts. 

  

	25.3	Service of process 

 A document which starts or is
otherwise required to be served in connection with any legal action or proceedings relating to a Dispute (“Process Document”) may be served in the same way as notices in accordance with clause 21 (subject to clause 25.4(b)). This
sub-clause does not prevent a Process Document being served in another manner permitted by law, provided that no Process Document shall be served by facsimile or email. 
  

	25.4	Appointment of agent for service 

  

	 	(a)	CCIA and the Guarantor shall at all times maintain an agent for service of process in England and Wales.

  

	 	(b)	CCIA and the Guarantor appoint CompuCredit UK of c/o Fleetside Legal Representative Services Limited, One Bishops Square, London, E1 6A0, or such other address as CCIA may notify
the Seller in writing from time to time as its agent to accept service of any Process Document in England.

  

	 	(c)	Any Process Document will be sufficiently served on CCIA or the Guarantor if delivered to the agent at its address for the time being. 

  

	 	(d)	Neither of CCIA or the Guarantor must revoke the authority of the agent. If the agent ceases to be able to act as such or to have an address within the jurisdiction of the English
courts, CCIA or the Guarantor (as the case may be) must promptly appoint another agent (with an address for service within the jurisdiction of the English courts). 

  

	 	(e)	CCIA or the Guarantor (as the case may be) must notify the Seller within 10 Business Days of any change in the identity or address of its agent for service of process.

  

	 	(f)	This clause 25.4 does not prevent a Process Document being served in another manner permitted by law. 

  

 - 52 - 

	26.	DESIGNEE 

  

	26.1	Subject to the consent of the Seller (such consent not to be unreasonably withheld or delayed), CCIA may designate a person other than Raphael Bank to acquire the Credit Card Assets
and/or to perform CCIA’s obligations under this Agreement which are expressed to be performed by Raphael Bank as CCIA’s designee. 

  

	26.2	If a person other than Raphael Bank is designated by CCIA pursuant to the terms of clause 26.1, all references to Raphael Bank in this Agreement shall be deemed to be replaced by
references to such designated person from the date on which the Seller gives its consent or as otherwise agreed by CCIA and the Seller. 

  

	27.	PURCHASERS’ LIABILITY JOINT AND SEVERAL 

 Where any provision of this Agreement provides that an obligation, undertaking or representation is of or made by both of the Purchasers, the liability of
the Purchasers for breach of such provision is joint and several. 
 IN WITNESS the parties have executed this Agreement on the date set out at the
beginning of this Agreement. 
  

 - 53 - 

									
	Executed by the parties	 		    		  		  	
					
	Signed by	 		    	)	  		  	
					
	Timothy Spurr as attorney for	 	)	    		  		  	
					
	BARCLAYS BANK PLC	 		    	)	  		  	 /s/ Timothy Spurr

		 		    		  		  	Signature
					
	Signed by	 		    	)	  		  	
					
	 /s/ Jeffrey A. Howard
	 		    	)	  		  	
	for and on behalf of	 		    	)	  		  	
	COMPUCREDIT UK LIMITED	 		    	)	  		  	
					
	Signed by	 		    	)	  		  	
					
	 /s/ Chason Carroll
	 		    	)	  		  	
	for and on behalf of	 		    	)	  		  	
	COMPUCREDIT INTERNATIONAL ACQUISITION CORPORATION	    	)	  		  	
					
	Signed by	 		    	)	  		  	
					
	 /s/ Jay Putnam
	 		    	)	  		  	
	for and on behalf of	 		    	)	  		  	
	COMPUCREDIT SERVICES CORP	 		    	)Account Ownership Agreement

 Exhibit 10.2 
 EXECUTION COPY 
 ACCOUNT OWNERSHIP AGREEMENT 
 Dated 4 April 2007 
 among 
 R. RAPHAEL & SONS PLC 
 as Account Owner, 
 and 
 COMPUCREDIT INTERNATIONAL ACQUISITION
CORPORATION 
 as Receivables Purchaser and Servicer 
 

 
 ORRICK, HERRINGTON & SUTCLIFFE 
 TOWER 42, LEVEL 35 
 25 OLD
BROAD STREET 
 LONDON EC2N 1HQ 
 tel +44 (0)20 7562 5000 
 fax +44 (0)20 7628
0078 
 www.orrick.com 

 TABLE OF CONTENTS 
  

							
	 	  	Page
	1.	  	INTERPRETATION	  	1
				
		  	1.1	  	Definitions	  	1
				
		  	1.2	  	Other Definitional Provisions	  	9
			
	2.	  	CREDIT CARD ACCOUNTS	  	10
				
		  	2.1	  	Account Owner; Account Administration	  	10
				
		  	2.2	  	Account Terms	  	12
				
		  	2.3	  	Non-Credit Revenue on Accounts	  	15
				
		  	2.4	  	Use of Names and Credit Card Marks	  	15
				
		  	2.5	  	Credit Card System Membership	  	16
				
		  	2.6	  	Non-Exclusive Arrangement	  	17
				
		  	2.7	  	Inspections	  	17
				
		  	2.8	  	Charged-Off Accounts	  	17
				
		  	2.9	  	Transfer of Accounts to a Third Party	  	18
				
		  	2.10	  	Enhancements and Fee-Based Programs	  	18
				
		  	2.11	  	Payment Provisions	  	18
				
		  	2.12	  	VAT	  	19
				
		  	2.13	  	Change Imposed or Recommended by Credit Card System	  	19
				
		  	2.14	  	Charges Imposed by Credit Card System	  	19
			
	3.	  	WARRANTIES	  	19
				
		  	3.1	  	Warranties of Account Owner Relating to Account Owner	  	19
				
		  	3.2	  	Warranties of Receivables Purchaser	  	22
				
		  	3.3	  	Warranties of Servicer	  	24
			
	4.	  	COVENANTS	  	25
				
		  	4.1	  	Covenants of Account Owner and Receivables Purchaser	  	25
			
	5.	  	TERM, EVENTS OF DEFAULT AND TERMINATION	  	31
				
		  	5.1	  	Term	  	31
				
		  	5.2	  	Events of Default	  	32
				
		  	5.3	  	Termination Rights	  	33
				
		  	5.4	  	Wind Down Period	  	33
				
		  	5.5	  	Terms Associated with Transfer of Accounts	  	34

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	Page
	6.	  	INDEMNIFICATION	  	34
				
		  	6.1	  	Account Owner’s Indemnification Obligations	  	34
				
		  	6.2	  	Servicer’s Indemnification Obligations	  	35
				
		  	6.3	  	Receivables Purchaser’s Indemnification Obligations	  	35
				
		  	6.4	  	Procedure	  	35
				
		  	6.5	  	Settlement Reserve Account	  	37
				
		  	6.6	  	Convenience Cheque Account	  	38
			
	7.	  	CARDHOLDER DATA	  	39
				
		  	7.1	  	Cardholder Data	  	39
				
		  	7.2	  	Property of Account Owner	  	39
				
		  	7.3	  	Storage and Disclosure of Cardholder Data	  	39
			
	8.	  	DATA PROTECTION	  	40
				
		  	8.1	  	Definitions	  	40
				
		  	8.2	  	Data Controller and Data Processors	  	40
				
		  	8.3	  	Compliance with Data Protection Act	  	40
				
		  	8.4	  	Processing of Personal Data	  	40
				
		  	8.5	  	Maintain Security	  	40
				
		  	8.6	  	Compliance with Terms of Schedule	  	41
				
		  	8.7	  	Transfer of Personal Data Outside EEA	  	41
			
	9.	  	MISCELLANEOUS PROVISIONS	  	41
				
		  	9.1	  	Amendment	  	41
				
		  	9.2	  	Governing Law	  	41
				
		  	9.3	  	Submission	  	41
				
		  	9.4	  	Service of Process	  	41
				
		  	9.5	  	Notices	  	42
				
		  	9.6	  	Severability of Provisions	  	43
				
		  	9.7	  	Further Assurances	  	43
				
		  	9.8	  	No Waiver; Cumulative Remedies	  	43
				
		  	9.9	  	Counterparts	  	43
				
		  	9.10	  	Binding	  	43

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
				
		  	9.11	  	Third Party Rights	  	43
				
		  	9.12	  	Merger and Integration	  	44
				
		  	9.13	  	Headings	  	44
				
		  	9.14	  	Survival	  	44
				
		  	9.15	  	Acknowledgement and Agreement of Account Owner	  	44
				
		  	9.16	  	Liability	  	44
				
		  	9.17	  	Guarantee	  	45
				
		  	9.18	  	No Partnership	  	46
				
		  	9.19	  	Visa Undertaking Letter	  	46

  

 -iii- 

 EXHIBITS 
  

							
		  	Exhibit A	  	Policies and Procedures	  	A-1
		  	Exhibit B	  	Form of Receivables Purchase Agreement	  	B-1
		  	Exhibit C	  	Form of Assignment and Assumption Agreement	  	C-1

 SCHEDULES 
  

							
		  	Schedule I	  	AO Credit Card Marks	  	1
		  	Schedule II	  	CC Credit Card Marks	  	1
		  	Schedule III	  	Barclays Marks	  	1
		  	Schedule 3.1	  	(d) Account Owner Authorizations, Consents, etc. of Governmental Authorities	  	1
		  	Schedule 3.2	  	(e) Receivables Purchaser Authorizations, Consents, etc. of Governmental Authorities	  	1
		  	Schedule 8.6	  	EU Model Clauses	  	1

  

 1 

 This ACCOUNT OWNERSHIP AGREEMENT, dated 4 April 2007 between 
  

	1.	R RAPHAEL & SONS PLC, a public limited liability company incorporated in England and Wales (“Account Owner”); and 

  

	2.	COMPUCREDIT INTERNATIONAL ACQUISITION CORPORATION, a Nevada corporation (“CCIA”, “Receivables Purchaser” or “Servicer”, as
applicable). 

 WHEREAS, 
  

	(a)	In connection with an agreement relating to the sale and purchase of Monument Business of even date herewith, between various parties, including Barclays Bank PLC
(“Barclays”) and Receivables Purchaser (as the same may be amended, amended and restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the “Sale and Purchase
Agreement”), Barclays has sold (prior to the Assignment Date, by way of declaration of trust and from and after the Assignment Date, by way of legal assignment) and Account Owner as CCIA’s designee has acquired certain properties,
rights, title, interest and privileges in and to the Accounts and related receivables outstanding thereunder; 

  

	(b)	Under the terms of a Receivables Purchase Agreement, of even date herewith, by and between Account Owner and Receivables Purchaser (as the same may be further amended, modified or
supplemented from time to time, the “Receivables Purchase Agreement”), Receivables Purchaser has agreed to purchase certain properties, rights, title, interest, privileges and obligations in and to certain receivables outstanding
under Accounts acquired by Account Owner from Seller; and 

  

	(c)	On the terms and conditions described herein, Account Owner and Receivables Purchaser desire to enter into a relationship under which, among other things, Account Owner will own the
Accounts (subject to the sale, under the Receivables Purchase Agreement, of the existing and accruing Receivables), issue credit cards related to the Accounts and perform certain services in respect of the Accounts, and Receivables Purchaser and
Servicer will have certain obligations with respect thereto. 

 NOW, IT IS AGREED as follows: 
  

	1.	INTERPRETATION 

  

	1.1	Definitions 

 All capitalized terms used herein or in any
certificate or document made or delivered pursuant hereto and not otherwise defined herein or therein shall have the meanings ascribed thereto in the Sale and Purchase Agreement or the Receivables Purchase Agreement, as the context may require; in
addition, the following words and phrases shall have the following meanings: 
 “Account Owner” shall have the meaning
specified in the Preamble. 
  

 1 

 “Account Schedule” shall mean the list of Accounts together with outstanding balances
and delinquency status of such Accounts prepared as of the Cut-Off Time and delivered to the Receivables Purchaser pursuant to Clause 3.6 of the Sale and Purchase Agreement, and as amended, if applicable, to exclude any Covered Accounts sold or
reconveyed to the Seller (or a third party designated by Seller) pursuant to Clause 7.3 of the Sale and Purchase Agreement. 
 “Accounts” shall mean the Credit Card accounts identified by name and account number on the Account Schedule, including each credit card account into which an Account has been transferred in accordance with the Policies and
Procedures and each Account with respect to which a new account number has been issued under circumstances resulting from an error or a lost or stolen credit card. 
 “Accounts Assets” shall have the meaning specified in Clause 5.1(a). 
 “Active Account” shall mean an Account (1) with respect to which there is a balance due from the Cardholder and (2) that is not a Charged Off Account and that is not an Excluded Account. 
 “Affiliate” shall mean, with respect to any person, corporation or entity, any other person, corporation or entity that directly or
indirectly controls, is controlled by or is under common control with such person, corporation or entity. For the purposes of this definition, “control” shall mean the power to direct the management and policies of a person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “common control” and “controlled” have meanings correlative to the foregoing. 
 “Agreement” shall mean this Account Ownership Agreement, as the same may be amended, restated, supplemented or otherwise modified from
time to time in accordance with the terms hereof. 
 “Anti Money Laundering Requirements” shall mean the legal and regulatory
requirements relating to money laundering as set out in the Money Laundering Regulations 2003 and the Joint Money Laundering Steering Group’s revised “Prevention of Money laundering – Guidance Note for the Financial Sector 2006”
(both as amended or superseded from time to time) and the policies and procedures of Account Owner intended to prevent and detect money-laundering (as amended from time to time). 
 “AO Credit Card Marks” shall mean such trademarks and service marks of Account Owner as used in connection with the Accounts as set forth
on Schedule I. 
 “AO Goodwill” shall have the meaning specified in Clause 2.4(b). 
 “AO Intellectual Property” shall have the meaning specified in Clause 4.1(a)(viii). 
  

 2 

 “Approved Receivables Purchaser Terms Change Request” shall have the meaning specified
in Clause 2.2(b)(iii). 
 “Assignment and Assumption Agreement” shall mean the Assignment and Assumption Agreement for
services to be provided by CCIS substantially in the form of Exhibit C between CCIA and CCIS and acknowledged and agreed to by the Account Owner. 
 “Assignment Date” shall mean the date that is 10 days after the notices referred to in Clause 6.1 of the Sale and Purchase Agreement have been posted to Cardholders in accordance with such clause.

 “Average Daily Purchases” shall mean, for any calendar month, (i) the sum of the amount of purchases and cash
advances on each day of such calendar month divided by (ii) the number of days in such calendar month. 
 “Barclays”
shall mean Barclays Bank PLC and its successors in interest. 
 “Barclays Marks” shall mean such trademarks and servicemarks
of Barclays as used in connection with the Accounts as set forth on Schedule III. 
 “BIN” shall have the meaning specified
in the Sale and Purchase Agreement. 
 “BIN Transfer Date” shall mean the date the Seller transfers the BIN to Account Owner
as Receivable Purchaser’s designee pursuant to Clause 6.2 of the Sale and Purchase Agreement. 
 “Books and Records”
shall mean all books and records (other than income Tax Returns and other corporate records not specifically relating to the Accounts) to the extent relating to the Accounts, including, without limitation: applications for Accounts, acceptance
certificates for prescreened offers, periodic statements, credit and collection files, file maintenance data, credit agreements, disclosure statements, credit information files, credit card slips, receipts, instruments, mailing lists, customer lists
and other records relating to the Accounts and the Cardholders and correspondence, whether in documentary form or on microfilm, microfiche, magnetic tape, computer disk or other form whether segregated by Cardholder identity or by document or record
type and any other records necessary to evidence ownership, service, administer or enforce the Accounts. 
 “Business Day”
shall mean each day other than Saturday, Sunday or a day on which banking institutions in London are authorized or obligated by law, executive order or governmental decree to be closed. 
 “Cardholder” shall mean an applicant and/or co-applicant in whose name an Account was established or is maintained and/or who is
obligated to repay the Receivables associated with such Account. 
  

 3 

 “Cardholder Agreements” shall mean all agreements between the Account Owner (or, prior
to the Assignment Date, the Seller or Providian National Bank) and a Cardholder containing the terms and conditions of the related Account, as the same may be amended from time to time. 
 “Cardholder Data” shall mean all data, including but not limited to the Cardholder List and any Personal Data, information, text,
drawings, records, documents and other materials which are embodied in any medium (including any electronic, optical, magnetic or tangible media) concerning any or all of the Cardholders: 
  

	 	(a)	that are supplied to the Servicer, Receivables Purchaser or any of their Affiliates by the Account Owner in order to enable those parties to provide advisory services to the Account
Owner, and which are not derived from information owned by the Servicer, Receivables Purchaser or any of their Affiliates; or 

  

	 	(b)	that the Servicer, Receivables Purchaser or any of their Affiliates generate solely for the purposes of this agreement and which they are required to provide to the Account Owner
under this Agreement. 

 “Cardholder List” shall mean a list containing the names and addresses of Cardholders.

 “CC Credit Card Marks” shall mean such trademarks and servicemarks of CCIA or CompuCredit as may be used in connection
with the Accounts as set forth on Schedule II. 
 “CC Goodwill” shall have the meaning specified in Clause
2.4(d). 
 “CCIS” shall mean CompuCredit International Servicing LLC, a Georgia limited liability company with registered
company number 07017487 and having its registered office at 245 Perimeter Center Parkway, Suite 600, Atlanta, GA 30346, USA, and its successors and permitted assigns. 
 “Change in Law” shall mean any amendment, modification, change, deletion or addition to, or precedential change in the interpretation of, any Requirements of Law (including without limitation, laws
relating to Taxes), or the enactment or issuance of any new Requirements of Law (including without limitation, laws relating to Taxes), the imposition by any Governmental Authority of conditions or requirements for the issuance or maintenance of any
licenses, consents, approvals, registrations or permits or any other change in the specified standards therefore, in each case occurring and which has an adverse effect on the ability of a Party to perform any of its obligations (including, without
limitation, by causing any delay therein) under this Agreement or which causes an increase in the cost of such performance. 
 “Charged Off Account” shall mean an Account that has been “charged off” (i.e., written off as uncollectible or as a bad debt) in accordance with the Policies and Procedures. 
 “Closing Date” shall mean the date of this Agreement first written above. 
  

 4 

 “CompuCredit UK” shall mean CompuCredit UK Limited, a company incorporated in England
and Wales with company number 6032187 and having its registered office at One Bishops Square, London E1 6AO. 
 “Consumer Credit
Act” shall mean the Consumer Credit Act 1974 and all regulations in force thereunder from time to time. 
 “Covered
Account” shall have the meaning specified in the Sale and Purchase Agreement. 
 “Credit Card” shall mean a credit
card operated through a Credit Card System that has been issued to each Cardholder pursuant to the relevant Cardholder Agreement. 
 “Credit Card System” shall mean VISA Europe Services Inc., VISA International Services Association, VISA Europe Limited and any other VISA entity, as appropriate. 
 “Data Protection Act” shall mean the Data Protection Act 1998. 
 “Declaration of Trust” shall mean the declaration of trust of even date herewith made by Seller in respect of the Receivables and the
other Purchased Assets in favour of Account Owner as CCIA’s designee. 
 “Dissolution Event” shall mean in respect of
any Party: 
  

	 	(a)	if such Party ceases or threatens to cease to carry on business or a substantial part of its business; 

  

	 	(b)	if such Party is or is deemed unable to pay its debts as and when they fall due within the meaning of Section 123(1) and (2) of the Insolvency Act 1986;

  

	 	(c)	if such Party has an order made or an effective resolution passed for its winding-up; 

  

	 	(d)	if such Party has proceedings initiated against it under any applicable liquidation, insolvency, composition, reorganisation or other similar laws (including, but not limited to,
presentation of a petition for an administration order); 

  

	 	(e)	if an administration order shall be granted or an administrative receiver or other receiver, liquidator or other similar official shall be appointed in relation to it or in relation
to the whole or any substantial part of its undertaking or assets; 

  

	 	(f)	if an encumbrancer shall take possession of the whole or any substantial part of its undertaking or assets; 

  

 5 

	 	(g)	if a distress or execution or other process shall be levied or enforced upon or sued out against the whole or any substantial part of its undertaking or assets and such possession
or process (as the case may be) shall not be discharged or otherwise ceases to apply within five (5) Business Days; 

  

	 	(h)	if it initiates or consents to judicial proceedings relating to itself under applicable liquidation, insolvency, composition, reorganisation or other similar laws or makes a
conveyance or assignment for the benefit of its creditors generally other than a solvent reorganisation which has been approved in advance of the same by the other Parties hereto (such approval not to be unreasonably withheld or delayed); or

  

	 	(i)	if at any time it no longer has legal power to perform its obligations under this Agreement or to carry on its business or it becomes unlawful for such person to do the same or any
of the obligations of such person are not or cease to be legal, valid and binding, in each case, to the extent that the same would have a material adverse effect; 

 “Excluded Account” shall have the meaning specified in the Sale and Purchase Agreement. 
 “FSA” shall mean the United Kingdom Financial Services Authority. 
 “Governmental Authority” shall mean any governmental, regulatory or self-regulatory authority, agency, court, tribunal, commission or
other regulatory or self-regulatory entity, in the UK or any applicable foreign governmental state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or
pertaining to government. 
 “Guarantee” shall mean the Guarantee specified in Clause 9.17. 
 “Indemnified AO Parties” shall have the meaning specified in Clause 6.2. 
 “Indemnified Party” shall have the meaning specified in Clause 6.4(a). 
 “Indemnified Receivables Purchaser Parties” shall have the meaning specified in Clause 6.1. 
 “Indemnifying Party” shall have the meaning specified in Clause 6.4(a). 
 “Legal Assignment of Assets” shall mean the legal assignment of the Receivables and the other Purchased Assets dated the Assignment Date
between Seller (as assignor), CCIA and Account Owner (as CCIA’s designee). 
 “Losses” shall mean any and all losses,
liabilities, damages, costs and expenses, including, without limitation, any reasonable attorneys’ fees (including, without limitation, those incurred to enforce the rights hereunder against another party hereto), disbursements and court costs,
in each case reasonably incurred by Account Owner, Receivables Purchaser, Servicer or any other Indemnified AO Party or Indemnified Receivables Purchaser Party, as applicable. 
  

 6 

 “Minimum Monthly Fee” shall have the meaning specified in Clause 2.1(a).

 “Monthly Fee” shall have the meaning specified in Clause 2.1(a). 
 “Operating Regulations” shall mean the by-laws, rules and regulations of the Credit Card System. 
 “Payment Break Program” shall have the meaning specified in Clause 2.11. 
 “Personal Data” shall have the meaning specified in the Data Protection Act. 
 “Policies and Procedures” shall mean the written policies and procedures of Account Owner relating to the manner in which Account Owner
conducts the Credit Card business, and the policies and procedures relating to the processing, servicing, collection and other administration and management of the Accounts, as attached as Exhibit A to this Agreement and as amended from time to time
in accordance with the terms of this Agreement. 
 “Post-Signing Receivables” shall have the meaning specified in the Sale
and Purchase Agreement. 
 “Pre-Signing Receivables” shall have the meaning specified in the Sale and Purchase Agreement.

 “Programme” shall mean the portfolio of Accounts and respective obligations of the Parties hereunder. 
 “Receivables” shall mean any and all amounts owing by Cardholders that arise or have arisen under or in connection with the Accounts,
including, without limitation, all principal, outstanding purchases, cash advances, balance transfers, finance charges, annual fees and any other charges and fees assessed on the Accounts. 
 “Receivables Purchase Agreement” shall mean the Receivables Purchase Agreement between Account Owner, as the seller, and Receivables
Purchaser, as purchaser, with provisions substantially in the form attached hereto as Exhibit B. 
 “Receivables Purchaser”
shall mean CompuCredit International Acquisition Corporation, a Nevada corporation with registered company number E0041862007-2 and having its registered address at 101 Convention Center Drive, Las Vegas, Nevada 89109, USA. 
 “Receivables Purchaser Terms Change Request” shall have the meaning specified in Clause 2.2(b). 
 “Regulatory Criticism” shall have the meaning specified in Clause 2.2(d). 
  

 7 

 “Related Agreements” shall mean the Sale and Purchase Agreement, the Declaration of
Trust, the Legal Assignment of Assets, the Visa Undertaking Letter and the Receivables Purchase Agreement. 
 “Requirements of
Code” shall mean the requirements or recommendations of The Finance Leasing Association Code of Practice 2000 together with the requirements or recommendations of any additional codes of conduct or practice which the Account Owner may
notify to the Receivables Purchaser during the Term of this Agreement. 
 “Requirements of Law” shall mean, with respect to
any person, the Operating Regulations and the requirements of any national, supra-national or local law, statute, rule or regulation or judicial, governmental, or administrative order, decree or ruling or any provision of any organizational,
corporate, constitutional or governing documents, applicable to the Accounts or the Account Owner in relation to the Credit Card business conducted pursuant to this Agreement or the actions of any party to this Agreement in the performance of its
respective obligations hereunder or under any Related Agreements. 
 “Sale and Purchase Agreement” shall mean the agreement
relating to the sale and purchase of Monument Business of even date herewith, between various parties including Barclays, CompuCredit UK and Receivables Purchaser (as the same may be amended, amended and restated, supplemented or otherwise modified
from time to time in accordance with the terms thereof). 
 “Section 75 Liability” shall mean any liability of Account Owner
(as creditor) from time to time to make payment to a Cardholder (as debtor) regarding an Account pursuant to Section 75 of the Consumer Credit Act. 
 “Seller” shall have the meaning specified in the Preamble. 
 “Servicer”
shall mean (1) initially CCIA, and (2) after the Closing Date, upon its execution of an Assignment and Assumption Agreement with respect to the rights and duties of the Servicer hereunder, CCIS and its successors and permitted assigns.

 “Services Agreement” shall mean the services between the Third Party Data Processor and Servicer or CompuCredit UK.

 “Servicing Agreements” shall mean the Transfer and Servicing Agreement, the Services Agreement and the Transitional
Services Agreement. 
 “Set-Up Fee” shall have meaning specified in Clause 2.1(a). 
 “Settlement Reserve Account” shall have the meaning specified in Clause 6.5(a). 
 “Settlement Reserve Account Amount” shall have the meaning specified in Clause 6.5(c). 
  

 8 

 “Tax” shall be construed so as to include any tax, levy, import, duty or other charge of
a similar nature (including, without limitation, any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). 
 “Tax Return” shall mean any return, report or similar statement required to be filed with respect to any Taxes (including any attached schedules), including, without limitation, any information
return, claim for refund, amended return or declaration of estimated Tax. 
 “Term” shall have the meaning set out in
Clause 5.1. 
 “Third Party Claim” shall have the meaning specified in Clause 6.4(a). 
 “Third Party Data Processors” shall mean any third party providing any of the data processing services described in Clause 2.1(d)
pursuant to a services agreement with the Servicer or CompuCredit UK, which may include but shall not be limited to TSYS. 
 “Transfer
Right” shall have the meaning specified in Clause 2.9. 
 “Transitional Services Agreement” shall mean the
transitional services agreement of even date herewith between the Seller and CCIA and CompuCredit UK under which the Seller will provide certain services to CCIA for a period after the Closing Date. 
 “TSYS” shall mean Total Systems Services, Inc. a corporation organized under the laws of Georgia with registration number J520481 and
having its registered office at 1600 First Avenue, Columbus, Georgia 31901-1804, USA. 
 “United Kingdom” shall mean the
United Kingdom of Great Britain and Northern Ireland. 
 “Visa Undertaking Letter” shall mean the letter agreement dated the
date hereof between VISA Europe Services Inc. and the Account Owner, CCIA, CompuCredit UK, CompuCredit Corporation and CCIS. 
 “Wind-Down Period” shall have the meaning specified in Clause 5.4. 
  

	1.2	Other Definitional Provisions. 

  

	 	(a)	The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not
to any particular provision of this Agreement; and Clause, Subclause, Schedule and Exhibit references contained in this Agreement are references to Clauses, Subclauses, Schedules and Exhibits in or to this Agreement unless otherwise specified.

  

	 	(b)	the singular includes the plural, and the plural includes the singular; 

  

	 	(c)	“include” and “including” are not limiting; 

  

 9 

	 	(d)	references to any agreement or other contract includes any permitted modifications, supplements, amendments and replacements, and 

  

	 	(e)	the Schedules and Exhibits referred to herein shall be construed with and as an integral part of this Agreement to the same extent as if they were set out herein.

  

	 	(f)	For the avoidance of doubt, for purposes of this Agreement, in the event any definition contained herein shall conflict with or be inconsistent with any definition contained in the
Receivables Purchase Agreement or the Sale and Purchase Agreement, the definition contained herein shall be controlling. 

  

	2.	CREDIT CARD ACCOUNTS 

  

	2.1	Account Owner; Account Administration. 

  

	 	 (a)
	 Account Owner shall issue the existing Credit Cards and new Credit Cards with respect to the existing Accounts and shall
discharge its responsibilities as Account Owner as set forth herein during the Term. Receivables Purchaser agrees to purchase the Receivables each Business Day as set out in the Receivables Purchase Agreement. In consideration of the services to be
provided by the Account Owner to the Receivables Purchaser pursuant to this Agreement, the Receivables Purchaser shall pay Account Owner the Set-Up Fee (as defined below) and a monthly fee (the “Monthly Fee”) equal to the product of
fifteen pence (15p) multiplied by the total number of Active Accounts on the close of business of the last day of the prior calendar month, subject to a minimum monthly payment of fifteen-thousand pounds (£15,000) (the
“Minimum Monthly Fee”). The Monthly Fee shall be payable on or before the fifteenth (15th) day
of each month during the Term (and with respect to the last calendar month of the Term, the Monthly Fee shall be payable on the fifteenth day of the next calendar month), or if such day is not a Business Day, on the next succeeding Business Day, by
transfer of immediately available funds to or at the direction of Account Owner. Receivables Purchaser further agrees to pay to Account Owner, within fourteen (14) days of the Closing Date, a one-off non-refundable fee of sixty-thousand pounds
(£60,000) (the “Set-Up Fee”). 

  

	 	(b)	Except as otherwise provided herein, Account Owner shall extend credit card loans to Cardholders in accordance with the Cardholder Agreements, the Policies and Procedures, the
Requirements of Law and the Requirements of Code and shall reasonably cooperate with Receivables Purchaser and Servicer in their performance of such services required hereunder or under the Related Agreements as may reasonably be required in order
to maintain the Accounts, including, e.g., the issuance of replacement Credit Cards. 

  

	 	(c)	 Servicer shall procure that the relevant Third Party Data Processor delivers to each Cardholder a personal identification number (or PIN), or other security code
for accessing personal information pertaining to the Cardholder, a Cardholder Agreement and any copy Cardholder Agreement required to be served on a 

  

 10 

	 	 
Cardholder pursuant to any Requirement of Law, any disclosure statement and such other notices or documents related to the establishment or maintenance of
Accounts as are required from time to time under the Operating Regulations and applicable Requirements of Code and Requirements of Law including, without limitation the Consumer Credit Act and the Data Protection Act. Receivables Purchaser and
Servicer shall each further procure that the relevant Third Party Data Processor shall promptly provide all information reasonably requested by Account Owner during the Term and for one year thereafter. 

  

	 	(d)	All Accounts opened and Receivables originated under the Programme after the Closing Date shall be processed and maintained by the relevant Third Party Data Processor pursuant to a
system which, during the term of this Agreement, will individually identify the Accounts and all Receivables arising thereunder, and which will distinguish them clearly from any other credit card accounts owned or serviced by Account Owner. Account
Owner agrees not to alter the file designation with respect to any Account during the Term without the prior written consent of Receivables Purchaser. 

  

	 	(e)	Servicer shall be responsible for servicing and maintaining the Accounts, processing payments thereunder and collecting or enforcing accounts payable thereunder by itself or through
the relevant Third Party Data Processor, as set out in the Servicing Agreement. The parties hereto acknowledge that for a period of time after the Closing Date the Seller will provide certain services with respect to the Accounts pursuant to the
Transitional Services Agreement. Furthermore, to carry out the terms of this Agreement, Servicer may enter into supplier and service contracts with third parties, including affiliates of Servicer. Servicer will exercise reasonable care in the
selection of third party service contractors. It is understood, acknowledged and agreed that in such event Servicer shall remain primarily liable for its performance hereunder, whether such performance is undertaken directly or indirectly through a
third party. Servicer shall make reasonably available to Account Owner and any regulatory agency having jurisdiction over Account Owner, upon advance written notice, access to the books, records, materials and facilities of such third party
suppliers and service contractors. 

  

	 	(f)	Servicer shall procure that the relevant Third Party Data Processor carries out its obligations under the Services Agreement, including, without limitation, all activities and
functions required by the Credit Card System from time to time, and the functions referred to in Clause 2.1(e) pursuant to a system which, during the Term, will individually identify the Accounts and all Receivables arising thereunder, and
which will distinguish them clearly from any other credit card accounts owned or serviced by Account Owner. 

  

	 	(g)	 Account Owner shall act as issuer of and shall issue new Credit Cards on existing Accounts within any FSA-regulated timescales. Account Owner shall, in its sole
discretion on a case by case basis, issue Credit Cards only to Cardholders in compliance with the Anti Money Laundering Requirements, but shall not approach any Cardholder directly to carry out anti-money laundering procedures unless 

  

 11 

	 	 
required to do so by the Anti Money Laundering Requirements. All Credit Cards shall be and remain the sole property of Account Owner. For the avoidance of
doubt and subject to Clause 5.3, immediately upon termination or expiry of this Agreement, Account Owner shall cease to issue new Credit Cards and shall comply with the provisions of Clause 5 relating to the Wind Down Period and the
transfer of the Accounts. 

  

	2.2	Account Terms 

  

	 	(a)	Cardholder Agreements 

 The terms and conditions for the
Credit Cards applicable to the Accounts are set forth in the Cardholder Agreements. 
  

	 	(b)	Changes in Terms requested by Receivables Purchaser 

 Receivables Purchaser from time to time may request in writing that Account Owner make changes to the terms of the Accounts and direct Servicer to implement such changes to the terms of the Accounts, which request shall, at a minimum,
describe in detail the changes so requested and the manner in which Receivables Purchaser proposes that such changes be implemented (each, a “Receivables Purchaser Terms Change Request”). Account Owner shall, subject to its rights
under Clauses 2.2(b)(i) and (ii), direct Servicer to implement all such changes that do not violate Requirements of Law. In connection with each Receivables Purchaser Terms Change Request: 
  

	 	(i)	Evidence of Use by Another Financial Institution 

 If
within ten (10) days following receipt of any Receivables Purchaser Terms Change Request Account Owner makes written demand upon Receivables Purchaser, Receivables Purchaser shall reasonably demonstrate that the terms proposed by Receivables
Purchaser to be in effect upon implementation of the Receivables Purchaser Terms Change Request are then in effect for another financial institution with respect to that institution’s own credit card accounts, without publicly documented
regulatory criticism relating specifically to such terms and without being subject to any pending or, to the knowledge of Receivables Purchaser, threatened litigation related thereto. If Receivables Purchaser is able to make such demonstration, then
Account Owner shall, subject to its right under Clauses 2.2(b)(ii) and (iii), direct Servicer to implement all such changes. If Receivables Purchaser is unable to make such a demonstration with respect to any Receivables Purchaser
Terms Change Request, then Account Owner shall not be obligated make such changes to the terms of the Accounts and shall not be obligated to direct Servicer to implement the changes described in such Receivables Purchaser Terms Change Request.

  

 12 

	 	(ii)	Violation of Requirements of Law 

 If Account Owner
notifies Receivables Purchaser within the applicable time period set forth in Clause (iii)(B)(II) or (C) below, that it believes effecting the changes described in any Receivables Purchaser Terms Change Request would result in the
violation of one or more Requirements of Law, and Receivables Purchaser notifies Account Owner that it disagrees with that belief: 
  

	 	(A)	Account Owner and Receivables Purchaser, as promptly as possible after receipt by Receivables Purchaser of such notice, shall jointly designate counsel reasonably satisfactory to
both Account Owner and Receivables Purchaser to advise Account Owner and Receivables Purchaser with respect to the extent to which effecting such changes would, in the opinion of such counsel, result in the violation of any Requirement of Law.

  

	 	(B)	If such counsel delivers an opinion substantially to the effect that such changes would result in the violation of one or more Requirements of Law, Receivables Purchaser shall pay
the reasonable fees and disbursements of such counsel in rendering such opinion and Account Owner shall not be required to direct Servicer to implement the changes described in such Receivables Purchaser Terms Change Request.

  

	 	(C)	If such counsel delivers an opinion substantially to the effect that such changes would not result in any violation of any Requirement of Law, Account Owner shall (1) pay the
reasonable fees and disbursements of such counsel in rendering such opinion and (2) direct Servicer to implement such changes. 

  

	 	(D)	If such counsel does not deliver an opinion substantially to the effect that such changes would or would not result in the violation of any Requirement of Law, Receivables Purchaser
and Account Owner each shall pay 50% of the fees and disbursements of such counsel. 

  

	 	(iii)	Obligation of Account Owner to Authorize Changes 

 Account
Owner shall be deemed to have authorized Servicer to begin the process of implementing the changes requested by Receivables Purchaser in a Receivables Purchaser Terms Change Request, to the extent such Receivables Purchaser Terms Change Request
requires action by Servicer, and shall be obligated to reasonably cooperate with Receivables Purchaser and Servicer in effecting such changes (with respect to clauses B and C below, upon written notice from Receivables Purchaser), if: 
  

	 	(A)	Account Owner responds in writing to Receivables Purchaser and Servicer that it approves or does not object to the changes proposed in such Receivables Purchaser Terms Change
Request; 

  

 13 

	 	(B)	Within ten (10) Business Days after receiving such Receivables Purchaser Terms Change Request: (I) Account Owner fails to request evidence of uncriticized use of such
terms by another financial institution pursuant to Clause 2.2(b)(i); or (II) Account Owner fails to notify Receivables Purchaser, pursuant to Clause 2.2(b)(ii), that it believes effecting the changes described in such
Receivables Purchaser Terms Change Request would result in the violation of one or more Requirements of Law; or 

  

	 	(C)	Within five (5) Business Days after receiving evidence from Receivables Purchaser of uncriticized use of the terms that would be in effect following such changes by another
financial institution in a manner that satisfies the requirements of Clause 2.2(b)(i), Account Owner fails to notify Receivables Purchaser, pursuant to Clause 2.2(b)(ii), that it believes effecting the changes
described in such Receivables Purchaser Terms Change Request would result in the violation of one or more Requirements of Law. 

 A Receivables Purchaser Terms Change Request that is the subject of any of the circumstances described in this Clause 2.2(b)(iii) is referred to herein as an “Approved Receivables Purchaser Terms Change
Request”, and: (i) Account Owner shall direct Servicer to implement the changes described therein; and (ii) following receipt of such written directions, Servicer shall implement the changes described in any such Approved
Receivables Purchaser Terms Change Request to the extent such change requires action by Servicer. 
  

	 	(iv)	Obligation of Receivables Purchaser to Pay for Terms Changes 

 Except as otherwise provided in Clause 2.2(b)(ii)(C) and (D), all reasonable costs and expenses incurred in connection with effecting any Receivables Purchaser Terms Change Request shall be for the account of Receivables
Purchaser and Receivables Purchaser shall reimburse Account Owner as soon as reasonably practicable after receipt of any demand for such reimbursement from Account Owner for any such cost or expense so incurred by Account Owner. Any payment of a
cost or expense of Account Owner by Receivables Purchaser pursuant to this Clause 2.2(b) shall be subject to receipt by Receivables Purchaser of a written statement setting forth in reasonable detail such cost or expense and attaching
receipts to the extent applicable. 
  

	 	(v)	Subject to Requirements of Law and as otherwise provided in this Clause 2.2(a), Account Owner shall use commercially reasonable efforts to cooperate with the Servicer in
implementing any changes to the Accounts requested by Receivables Purchaser that it is required to so implement pursuant to this Clause 2.2(b). 

  

 14 

	 	(c)	Account-by-Account Changes 

 Servicer may implement,
without the specific prior written approval of Account Owner or Receivables Purchaser, but subject to Requirements of Law, changes to individual Accounts to facilitate collections or maintenance with respect to such Accounts provided that any
changes are consistent with the Policies and Procedures and Clause 3.1 of the Visa Undertaking Letter. 
  

	 	(d)	In the event that Account Owner receives criticism in a report of examination or in a related document or specific oral communication from, or is subject to formal or informal
supervisory action by the FSA or any other Governmental Authority, or enters into an agreement with the FSA or any other Governmental Authority with jurisdiction over Account Owner with respect to the Accounts and the transaction contemplated by
this Agreement (“Regulatory Criticism”), Account Owner shall promptly advise Receivables Purchaser in writing of the Regulatory Criticism received and shall promptly share with Receivables Purchaser relevant portions of any written
documentation, or for oral communications, provide a detailed summary in writing, received from the relevant supervisory agency, to the extent not specifically prohibited by law, for the full and fair assessment and understanding of such criticism.
The parties shall cooperate and use their respective best efforts to reach agreement to add, delete or revise their appropriate agreements to promptly rectify, resolve or address the matter(s) subject to the Regulatory Criticism.

  

	2.3	Non-Credit Revenue on Accounts 

 Any rebates, marketing
fees or other fees or discounts, including, without limitation, interchange payments that are paid or granted by the Credit Card System to Account Owner with respect to the Accounts relating to the period from and after the Closing Date shall be
paid over to Receivables Purchaser as soon as reasonably practicable (but in any event within thirty (30) days) after receipt by Account Owner. 
  

	2.4	Use of Names and Credit Card Marks 

  

	 	(a)	Branding; Account Owner’s Credit Card Marks 

 Account
Owner acknowledges that, after the end of the transitional period following the Closing Date, pursuant to the Sale and Purchase Agreement, all Credit Cards issued to Cardholders will include the name of the Account Owner. Account Owner hereby
authorizes Receivables Purchaser and Servicer to use the AO Credit Card Marks as and only to the extent necessary to carry out its obligations hereunder. Receivables Purchaser and Servicer hereby agree that all use of the AO Credit Card Marks shall
only be in connection with the Accounts. 
  

 15 

	 	(b)	Rights Reserved by Account Owner 

 It is expressly agreed
that Receivables Purchaser is not purchasing or acquiring any right, title or interest in the AO Credit Card Marks or the name, or any portion thereof, of Account Owner or its Affiliates. Receivables Purchaser acknowledges that Account Owner
exclusively owns the AO Credit Card Marks and the goodwill related thereto and symbolized thereby (the “AO Goodwill”). Receivables Purchaser shall not combine the AO Credit Card Marks with any other mark or term and shall not use
the AO Credit Card Marks in any manner that could reasonably be expected to materially damage or diminish the AO Goodwill. Receivables Purchaser shall immediately upon receipt of written notice from Account Owner cease any act or practice that is
not permitted by this Clause 2.4. 
  

	 	(c)	Branding; Barclays Marks; CC Credit Card Marks 

 Account
Owner acknowledges that, for the transitional period of time following the Closing Date, pursuant to the Sale and Purchase Agreement, certain of the Credit Cards will contain the Barclays Marks. Account Owner acknowledges that Credit Cards issued to
Cardholders may include one or more of the CC Credit Card Marks. Servicer and Receivables Purchaser hereby authorize Account Owner to use the CC Credit Card Marks as and only to the extent necessary to carry out its obligations hereunder. Account
Owner hereby agrees that all use of the Barclays Marks and the CC Credit Card Marks shall only be in connection with the Accounts. 
  

	 	(d)	Rights Reserved by Servicer and Receivables Purchaser 

 It
is expressly agreed that Account Owner is not purchasing or acquiring any right, title or interest in the Barclays Marks or the CC Credit Card Marks or the name, or any portion thereof, of Servicer, Receivables Purchaser or any of their Affiliates.
Account Owner acknowledges that Barclays owns the Barclays Marks and Servicer or Receivables Purchaser or one of their Affiliates exclusively owns the CC Credit Card Marks and the goodwill related thereto and symbolized thereby (the “CC
Goodwill”). Account Owner shall not combine the Barclays Marks or the CC Credit Card Marks with any other mark or term and shall not use the CC Credit Card Marks in any manner that could reasonably be expected to materially damage or
diminish the CC Goodwill. Account Owner shall immediately upon receipt of written notice from Receivables Purchaser cease any act or practice that is not permitted by this Clause 2.4. 
  

	2.5	Credit Card System Membership 

 At all times during the
Term, Account Owner shall maintain its memberships in the Credit Card System. Account Owner shall be responsible for making all reports to the Credit Card System that may be required by its memberships therein. All parties hereto shall comply with
the Operating Regulations in connection with the Accounts. 
  

 16 

	2.6	Non-Exclusive Arrangement 

 Except as provided herein,
there shall be no restriction on Account Owner’s right to issue credit cards independent of the Accounts and to perform credit card services on its own behalf or for other parties. 
  

	2.7	Inspections 

  

	 	(a)	During and for five years after the Term, Receivables Purchaser may, at its own expense and upon reasonable prior notice, have reasonable access to and the right to inspect and copy
the Books and Records that are in Account Owner’s possession or under Account Owner’s control and copies or the originals of which are not otherwise held or maintained by Servicer. During and for five years after the Term, Account Owner
shall furnish to Receivables Purchaser all such information concerning the Accounts administered by Account Owner pursuant to this Agreement as Receivables Purchaser may reasonably request, at Receivables Purchaser’s own expense, that are not
in the possession or under the control of Receivables Purchaser or Servicer. Receivables Purchaser’s internal and external representatives and internal and external auditors shall have the same rights to on-site and off-site inspections and
audits of Account Owner as Receivables Purchaser has, in each case at the expense of Receivables Purchaser; provided that Receivables Purchaser shall provide reasonable prior written notice to Account Owner of any internal or external
representative or auditor exercising such rights. 

  

	 	(b)	Account Owner may, at its own expense and upon reasonable prior notice, have reasonable access to and the right to inspect and copy the books and records of Receivables Purchaser
relating to the Receivables and the Accounts. Account Owner’s internal and external representatives and internal and external auditors and regulators shall have the same rights to inspections and audits of Receivables Purchaser as Account Owner
has, in each case at the expense of Account Owner; provided, however, that if an Event of Default of Receivables Purchaser, as set forth in Clause 5.2, has occurred and is continuing, Receivables Purchaser will pay the
reasonable expenses charged to Account Owner by Account Owner’s regulators in connection with the inspection and audit of Receivables Purchaser by such regulators; provided further that Account Owner shall provide reasonable prior
written notice to Receivables Purchaser of any internal or external representative, auditor or regulator exercising such rights. 

  

	2.8	Charged-Off Accounts 

 During the Term, on the tenth
(10th) calendar day or, if such day is not a Business Day, the next succeeding Business Day of each calendar month, Account Owner shall automatically and without further action or consideration be deemed to, and hereby does, transfer, set over
and convey to Servicer or its designee all of its right, title and interest in and to each Account that has been charged-off as uncollectible during the preceding calendar month, and, on and after each such date, Servicer shall automatically and
without further action or consideration be deemed to, and hereby does, assume Account Owner’s obligations with respect to each such Account. 
  

 17 

	2.9	Transfer of Accounts to a Third Party 

 Account Owner
hereby grants to Receivables Purchaser the right (the “Transfer Right”) to require Account Owner on the termination of this Agreement pursuant to Clause 5.1 or 5.3 (other than a termination due to an Event of Default
caused by Servicer or Receivables Purchaser) to convey the Accounts Assets to Receivables Purchaser or its designee at Account Owner’s expense (other than for transfer fees charged by the transferee Account Owner, if any, for any legal fees of
the transferee Account Owner, and for any costs related to the issuance of new credit cards). For the avoidance of doubt, neither the Receivables Purchaser nor its designee shall be obligated to pay the Account Owner any consideration in addition to
the Purchase Price paid pursuant to the Sale and Purchase Agreement for the conveyance of the Accounts Assets. 
  

	2.10	Enhancements and Fee-Based Programs 

 During the Term,
Account Owner shall offer to the Cardholders certain enhancements and fee-based programs, including without limitation, payment break, debt waiver or cancellation products, so long as (i) such offers do not violate the Requirements of Law, and
(ii) such offers have been reasonably requested by Receivables Purchaser to be made, and (iii) Receivables Purchaser reimburses Account Owner for its actual costs incurred resulting from the offers and servicing of such offers. Receivables
Purchaser or its designee shall be permitted to retain all revenues resulting from or related to such offers, provided that Receivables Purchaser or its designee provide all servicing and administration in connection with such offers. 
 Without limiting the generality of the foregoing paragraph, Account Owner will continue for existing Cardholders and Accounts, and will make available to
those Cardholders and Accounts not presently participating, a payment break program under the “Payment Break” name (the “Payment Break Program”). Servicer is responsible for fulfilling the preceding obligations on
behalf of Account Owner, including, but not limited to, marketing the Payment Break Program to eligible Cardholders and providing customer service, program management, program servicing and administration of claims for all participating Accounts.
Servicer shall be responsible for implementing the payment break benefits that Cardholders are entitled to under the Payment Break Program. Notwithstanding anything to the contrary elsewhere herein, Receivables Purchaser is responsible for funding
refunds, if any, due to Cardholders upon cancellation of their Payment Break enrollment. 
  

	2.11	Payment Provisions 

 All amounts owed to Account Owner
hereunder shall be paid by Receivables Purchaser to the extent permitted by law promptly in full in immediately available funds and without set-off by electronic transfer to the following account: 
  

			
	 A/C Name:
	 	R Raphael & Sons plc
	 Bank:
	 	Lloyds TSB
	 Sort Code:
	 	30-90-38
	 A/C No.:
	 	01346310

  

 18 

 If, during the Term, Receivables Purchaser is required to deduct by law, statute or other government
regulation withholding tax from any amounts remitted to Account Owner, Receivables Purchaser shall use reasonable endeavours to minimize such deductions and shall provide to Account Owner copies of any applicable documentation it has and such other
reasonable assistance as may be required to enable Account Owner to claim a rebate or deduction for such withholding tax. 
  

	2.12	VAT 

 All amounts hereunder are exclusive of Value Added
Tax (VAT) and any applicable VAT shall be paid within fourteen (14) days of presentation of a valid VAT invoice. The parties intend and believe that the sale of the Receivables to Receivables Purchaser shall not be a taxable supply for VAT
purposes. 
  

	2.13	Change Imposed or Recommended by Credit Card System 

 In
the event that any additional requirements are imposed or recommended by the Credit Card System, the Parties each undertake to agree and make appropriate changes to the Cardholder Agreements or their operating procedures as soon as reasonably
practicable and in any case within the timescale required by the Credit Card System. 
  

	2.14	Charges Imposed by Credit Card System 

 In the event that
any additional charges, fees or payments, specifically applicable to the Programme or this Agreement, are imposed by the Credit Card System, Receivables Purchaser agrees and undertakes to pay or reimburse Account Owner such amounts, including legal
fees of the Credit Card System for review of this Agreement, the Related Agreements and other documents. 
  

	3.	WARRANTIES 

  

	3.1	Warranties of Account Owner Relating to Account Owner 

 The
warranties of the Account Owner under this Agreement are given subject to, and on the basis that, the warranties of Seller in the Sale and Purchase Agreement are true and correct in all material respects and that Account Owner has made no enquiries
or investigations relating to the same. In the event any of the warranties of the Seller in the Sale and Purchase Agreement are not true and correct and, as a result, but for this provision a warranty of the Account Owner hereunder would fail to be
true and correct in any respect, Account Owner shall have no liability for such incorrect warranty. Subject to the foregoing, Account Owner hereby warrants to, and agrees with, Receivables Purchaser and Servicer, as of the date hereof, with respect
to Account Owner, and as of 

  

 19 

 
each date on which Receivables and other Purchased Assets (as defined in the Receivables Purchase Agreement) are conveyed under the Receivables Purchase
Agreement (or as of such other date specified in any such warranty), with respect to Account Owner and such Receivables or other Purchased Assets, as applicable, that: 
  

	 	(a)	Incorporation; Corporate Authority 

 Account Owner is a
public limited company, duly incorporated and validly existing under the laws of England and Wales and has the corporate power and authority to own the Accounts and to carry on the business relating to the Accounts as contemplated by this Agreement
and the Receivables Purchase Agreement, and is duly authorised to do business in each jurisdiction where the ownership or operation of the Accounts or the conduct of the business relating to the Accounts as contemplated by this Agreement and the
Receivables Purchase Agreement requires such authorisation, except where the failure to be so authorised would not have a material adverse effect on the Accounts. 
  

	 	(b)	Capacity; Authority; Enforceability 

 Account Owner has
all necessary power and authority to make, execute and deliver this Agreement and the Receivables Purchase Agreement and to perform all of the obligations to be performed by it hereunder and thereunder. The making, execution, delivery and
performance of this Agreement and the Receivables Purchase Agreement and the consummation by Account Owner of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action of Account Owner.
This Agreement and the Receivables Purchase Agreement have each been duly and validly executed and delivered by Account Owner and, assuming the due authorization, execution and delivery hereof and thereof by the other parties hereto and thereto,
this Agreement and the Receivables Purchase Agreement will each constitute the valid and binding obligation of Account Owner, enforceable against Account Owner in accordance with its terms (except as such enforcement may be limited by insolvency,
and other laws relating to or affecting creditors’ rights generally and by general equity principles). 
  

	 	(c)	No Conflict or Default 

 Neither the execution and
delivery of this Agreement or any Related Agreement by Account Owner, nor the consummation of the transactions contemplated hereby or thereby by Account Owner will (i) conflict with, result in the breach of, constitute a default under or
accelerate the performance provided by, the terms of any order, law, regulation, contract, indenture, mortgage, instrument, commitment, judgment or decree to which Account Owner is a party or by which it is bound, except such conflicts, breaches,
defaults or accelerations that would not have, individually or in the aggregate, a material adverse effect on the Accounts or (ii) violate the articles of incorporation or bylaws, or any other equivalent organizational document, of Account
Owner. 
  

 20 

	 	(d)	Consents 

 Neither the execution and delivery of this
Agreement or any Related Agreement by Account Owner, nor the consummation of the transactions contemplated hereby or thereby will (i) require any consent, approval, authorization, registration or filing under any law, regulation, judgment,
order, writ, decree, permit, license or agreement to which Account Owner is a party, or (ii) require the consent or approval of any other party to any contract, instrument or commitment to which Account Owner is a party, in each case other than
(A) authorizations, consents, orders or approvals of or registrations or declarations with any Governmental Authority or Credit Card System, which have been or will be obtained or made prior to or on the Closing Date as set forth on Schedule
3.1(d), or (B) where the failure to obtain such consents, approvals, authorizations or registrations or to make such filings would not have a material adverse effect on the Accounts. Any such authorization, consent, approval, order,
registration or declaration that has been obtained, effected or given is in full force and effect. Account Owner is not subject to any agreement with any Governmental Authority that would prevent the consummation by Account Owner of the transactions
contemplated by this Agreement or any Related Agreement. Account Owner is not in default under, and as far as it is aware no event has occurred that, with the lapse of time or action by a third party, could result in a default under, the terms of
any judgment, order, writ, decree, permit or license of any agency of any government or court, whether federal, state, municipal or local and whether at law or in equity, that would reasonably be expected to have a material adverse effect on the
Accounts. 
  

	 	(e)	Litigation 

 There is no action, suit, proceeding, claim
or other litigation, or any investigation by any Governmental Authority, pending, or, to Account Owner’s knowledge, threatened, against Account Owner that has had or would reasonably be expected to have, individually or in the aggregate, a
material adverse effect on Account Owner and/or its ability to discharge its responsibilities as Account Owner. 
  

	 	(f)	Compliance with Laws 

 As of the date hereof:
(i) Account Owner has not taken any action with respect to the Accounts that would cause the Accounts to fail to comply in any material respects with any applicable Requirements of Law; and (ii) Account Owner has not taken any action with
respect to the Accounts that would cause the Accounts to fail to comply in any material respect with any applicable Requirements of Law. With respect to its existing business practices, Account Owner is in compliance with all Requirements of Law and
its organizational documents. 
  

	 	(g)	Performance of Obligations 

 So far as Account Owner is
aware, Account Owner has performed all material obligations required to be performed by it as Account Owner under the Cardholder 

  

 21 

 
Agreements and has not taken any action that would cause it to be in material default under the Cardholder Agreements. As far as Account Owner is aware, no
event has occurred with respect to Account Owner’s performance under the Cardholder Agreements that, with the lapse of time or action by a third party, would be reasonably likely to result in a material default by Account Owner under the
Cardholder Agreements that would reasonably be expected to have a material adverse effect on the Accounts, the Receivables or the Purchased Assets. 
  

	 	(h)	Licenses 

 All licenses, approvals, authorisations and
consents which are necessary in connection with the carrying on of its business and any applicable licenses under the Consumer Credit Act and the Data Protection Act have been obtained and remain in full force in all material respects. 

 

	 	(i)	Banking License 

 It is a bank duly authorised by the FSA
to undertake all relevant aspects of its banking business in the United Kingdom and is a member of the Credit Card System. The Policies and Procedures and the actions of the Account Owner hereunder comply with the Operating Regulations. 

 

	3.2	Warranties of Receivables Purchaser 

 As of the date
hereof, Receivables Purchaser hereby warrants to, and agrees with, Account Owner and Servicer as of the date hereof and as of each date on which Receivables and other Purchased Assets are assigned under the Receivables Purchase Agreement that:

  

	 	(a)	Organization 

 Receivables Purchaser is a corporation duly
incorporated and validly existing and in good standing under the laws of Nevada. Receivables Purchaser has the power and authority to perform its obligations under this Agreement, and is duly qualified to do business in each jurisdiction where the
conduct of its business relating to the performance of such obligations requires such qualification, except where the failure to be so qualified would not have a material adverse effect on Receivables Purchaser. 
  

	 	(b)	Capacity; Authority; Enforceability 

 Receivables
Purchaser has all necessary power and authority to make, execute and deliver this Agreement and to perform all of the obligations to be performed by it under this Agreement. The making, execution, delivery and performance of this Agreement and the
Related Agreements to which it is a party and the consummation by Receivables Purchaser of the transactions contemplated hereby have been duly and validly authorized by all necessary corporate or limited liability company action of Receivables
Purchaser. This Agreement and the Related 

  

 22 

 
Agreements to which it is a party have been duly and validly executed and delivered by Receivables Purchaser and, assuming the due authorization, execution
and delivery hereof and thereof by the other parties thereto, this Agreement and the Related Agreements to which it is a party will constitute the valid, legal and binding obligations of Receivables Purchaser, enforceable against Receivables
Purchaser in accordance with their terms (except as such enforcement may be limited by bankruptcy, insolvency, and other laws relating to or affecting creditors’ rights generally and by general equity principles). 
  

	 	(c)	No Conflicts or Default 

 Neither the execution and
delivery of this Agreement nor any of the Related Agreements to which it is a party by Receivables Purchaser nor the consummation of the transactions contemplated hereby or thereby by Receivables Purchaser will (i) conflict with, result in the
breach of, constitute a default under or accelerate the performance provided by, the terms of any order, law, regulation, contract, indenture, mortgage, instrument, commitment, judgment or decree to which Receivables Purchaser is a party or by which
Receivables Purchaser is bound, except such conflicts, breaches, defaults or accelerations that would not have, individually or in the aggregate, a material adverse effect on Receivables Purchaser or (ii) violate Receivables Purchaser’s
articles of incorporation or by-laws. 
  

	 	(d)	Litigation 

 There is no action, suit, proceeding, claim
or other litigation, or any investigation by any Governmental Authority, pending, or, to Receivables Purchaser’s knowledge, threatened, against Receivables Purchaser or any of its Affiliates that has had or would reasonably be expected to have,
individually or in the aggregate, a material adverse effect on Receivables Purchaser. 
  

	 	(e)	Consents 

 Neither the execution and delivery of this
Agreement by Receivables Purchaser, nor the consummation of the transactions contemplated hereby, will (i) require any consent, approval, authorization, registration or filing under any law, regulation, judgment, order, writ, decree, permit,
license or agreement to which Receivables Purchaser is a party, or (ii) require the consent or approval of any other party to any contract, instrument or commitment to which Receivables Purchaser is a party, in each case other than
(A) authorizations, consents, orders or approvals of or registrations or declarations with any Governmental Authority or the Credit Card System, that have been or will be obtained or made prior to or on the Closing Date as set forth on
Schedule 3.2(e), or (B) where the failure to obtain such consents, approvals, authorizations or registrations or to make such filings would not have a material adverse effect on Receivables Purchaser’s ability to fulfill its
obligations hereunder. Any such authorization, consent, approval, order, registration or declaration that has been obtained, effected or given is in full force and effect. Receivables Purchaser is not subject to any agreement with any Governmental

  

 23 

 
Authority or the Credit Card System that would prevent the consummation by Receivables Purchaser of the transactions contemplated by this Agreement.
Receivables Purchaser is not in default under, and no event has occurred that, with the lapse of time or action by a third party, could result in a default under, the terms of any judgment, order, writ, decree, permit or license of any agency of any
government or court, whether federal, state, municipal or local and whether at law or in equity, that would reasonably be expected to have a material adverse effect on Receivables Purchaser’s ability to perform its obligations hereunder.

  

	3.3	Warranties of Servicer 

 As of the date hereof, Servicer
hereby warrants to, and agrees with, Receivables Purchaser and Account Owner as of the date hereof and as of each date on which Receivables and other Purchased Assets are conveyed under the Receivables Purchase Agreement that: 
  

	 	(a)	Organization 

 Servicer is a corporation, duly
incorporated and validly existing and in good standing under the laws of the State of Nevada. Servicer has the power and authority to service the Accounts and to carry on the business relating to such Accounts, and is duly qualified to do business
in each jurisdiction where the servicing of the Accounts and Receivables or the conduct of its business relating to the Accounts and Receivables requires such qualification, except where the failure to be so qualified would not have a material
adverse effect on the Accounts or Receivables. 
  

	 	(b)	Capacity; Authority; Enforceability 

 Servicer has all
necessary power and authority to make, execute and deliver this Agreement and to perform all of the obligations to be performed by it under this Agreement and the Servicing Agreements to which it is a party. The making, execution, delivery and
performance of this Agreement and the Servicing Agreements to which it is a party, and the consummation by Servicer of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action of
Servicer. This Agreement has been duly and validly executed and delivered by Servicer and, assuming the due authorization, execution and delivery hereof by Account Owner and Receivables Purchaser, this Agreement will constitute the valid, legal and
binding obligations of Servicer, enforceable against Servicer in accordance with its terms (except as such enforcement may be limited by bankruptcy, insolvency, and similar laws relating to or affecting creditors’ rights generally and by
general equity principles). 
  

	 	(c)	No Conflicts or Default 

 Neither the execution and
delivery of this Agreement and the Servicing Agreements to which it is a party by Servicer nor the consummation of the 

  

 24 

 
transactions contemplated hereby and thereby by Servicer will (i) conflict with, result in the breach of, constitute a default under or accelerate the
performance provided by, the terms of any order, law, regulation, contract, indenture, mortgage, instrument, commitment, order, judgment or decree to which Servicer is a party or by which Servicer is bound, except such conflicts, breaches, defaults
or accelerations that would not have, individually or in the aggregate, a material adverse effect on Servicer or (ii) violate the articles of incorporation, by-laws, or any other equivalent organizational document of Servicer. 
  

	 	(d)	Litigation 

 There is no action, suit, proceeding, claim,
or other litigation, or any investigation by any Governmental Authority, pending, or, to Servicer’s knowledge, threatened, against Servicer or any of its Affiliates that has had or would reasonably be expected to have, individually or in the
aggregate, a material adverse effect on Servicer. 
  

	4.	COVENANTS 

  

	4.1	Covenants of Account Owner and Receivables Purchaser. 

  

	 	(a)	Covenants of Account Owner 

 Account Owner hereby
covenants and agrees with Receivables Purchaser and Servicer as follows: 
  

	 	(i)	Corporate Existence 

 Subject to and on the basis that the
warranties of Seller in the Sale and Purchase Agreement are true and correct in all material respects and that Account Owner has made no enquiries or investigations relating to the same (and Receivables Purchaser agrees that, in the event any of the
warranties of Seller in the Sale and Purchase Agreement are not true and correct and, but for this provision, Account Owner would have any liability, Account Owner shall have no such liability), Account Owner shall maintain in full force and effect
its authorisation as a bank and all licenses and permits required to perform its obligations under this Agreement, including all licenses required under the Consumer Credit Act. Account Owner shall maintain and comply in all material respects with
all regulatory and administrative requirements of the FSA applicable to it, as they relate to the Accounts and this Agreement and all Requirements of Law in connection with the performance of its obligations under this Agreement, and with all laws,
rules, regulations, orders, writs, judgments, injunctions, decrees and awards to which it otherwise may be subject. 
  

 25 

	 	(ii)	Official Records 

 Account Owner will maintain this
Agreement and any Related Agreement to which Account Owner is a party as a part of its official records. 
  

	 	(iii)	Preservation of Accounts 

 During the term of this
Agreement, unless otherwise agreed to in writing by Receivables Purchaser, from the date of this Agreement, Account Owner shall: (A) not sell, assign, transfer, pledge or encumber, or permit the encumbrance of (other than by Receivables
Purchaser or Servicer), any Account or Receivable without the prior written consent of Receivables Purchaser; (B) not take any action with respect to the Accounts which shall impair any material rights of Receivables Purchaser other than in the
ordinary course of business, and only to the extent such action is required to comply with Requirements of Law; and (C) promptly inform Receivables Purchaser of any litigation or proceeding with respect to the Accounts of which Account Owner
becomes aware (but solely to the extent Account Owner has actual knowledge that Receivables Purchaser has not otherwise been notified of such litigation or proceeding by Servicer). 
  

	 	(iv)	Use of the Cardholder List 

 Neither Account Owner nor any
of its Affiliates, will: (A) sell or otherwise provide the Cardholder List, in whole or in part, to any third party other than Servicer and the Third Party Data Processor; (B) use the Cardholder List, in whole or in part, for the purpose
of soliciting any Cardholder for any product, including, without limitation, credit card and revolving loan products, whether directly or indirectly; or (C) directly solicit (including, without limitation, by mail, telemarketing or e-mail), or
indirectly solicit through agents or Affiliates (including, but not limited to, agent bank arrangements with other financial institutions or entities), Cardholders for any product, including, without limitation, credit card and revolving loan
products. 
  

	 	(v)	Policies and Procedures 

 To the extent such Policies and
Procedures relate to Account Owner’s activities in such capacity, during the Term and for so long after the Term as it shall be required pursuant to any Requirements of Law, Account Owner shall (A) maintain and preserve a complete and
accurate record of the existing Policies and Procedures in effect as of each day during the Term and provide each of Receivables Purchaser and Servicer with a current copy of the existing Policies and Procedures upon their written request,
(B) make the Policies and Procedures in effect as of each day during the Term available to Receivables Purchaser and Servicer for inspection at any time during normal business hours upon reasonable advance notice (provided,
however, that the foregoing shall not require Account Owner to permit any inspection, or to disclose any information, 

  

 26 

 
that in its reasonable judgment would (I) result in the disclosure of any confidential information or trade secrets of third parties or confidential
information or trade secrets of itself or violate any of its obligations to any third party with respect to confidentiality so long as such failure to permit such inspection or disclose such information does not violate, or cause any other party to
violate, any Requirement of Law or (II) require any disclosure by Account Owner that could, as a result of such disclosure, have the effect of causing the waiver of any attorney client privilege), and (C) prior to the effectiveness of any
amendment, supplement or modification to the Policies and Procedures in any material respect during the Term, obtain the consent of Receivables Purchaser with respect to each such amendment, supplement and modification, which consent shall not be
unreasonably withheld or delayed. Account Owner shall provide each of Receivables Purchaser and Servicer a copy of any amendment, supplement or modification to the Policies and Procedures promptly following the execution of such amendment,
supplement or modification. 
  

	 	(vi)	Credit Card System Membership 

 Account Owner shall
maintain its membership of the Credit Card System in good standing during the term of this Agreement. Account Owner shall be responsible for making all reports to the Credit Card System which may be required by its membership therein and shall
comply with the Operating Regulations in connection with this Agreement. 
  

	 	(vii)	Intellectual Property 

 Account Owner will maintain its
registered trademarks, service marks, logos, names or any other proprietary designations used in connection with the Accounts (collectively, the “AO Intellectual Property”), and shall pursue any material infringements of any of the
foregoing by any Person of which it becomes aware; provided that nothing in this clause (vii) shall require Account Owner to maintain any AO Intellectual Property to the extent it is no longer used in connection with the Accounts or to the
extent it no longer uses such AO Intellectual Property so long as Account Owner (a) offers to assign or transfer such AO Intellectual Property to or at the direction of Receivables Purchaser at no cost to Account Owner and (b) cooperates
with Receivables Purchaser or Receivables Purchaser’s designee in connection with such assignment or transfer, including any assignment or transfer to Receivables Purchaser or any Affiliate of Receivables Purchaser. 
  

	 	(viii)	Other Rights of Account Owner 

 Subject to and on the
basis that the warranties of Seller in the Sale and Purchase Agreement are true and correct in all material respects and that Account Owner has made no enquiries or investigations relating to the same (and Receivables Purchaser agrees that, in the
event any of the 

  

 27 

 
warranties of Seller in the Sale and Purchase Agreement are not true and correct and, but for this provision, Account Owner would have any liability, Account
Owner shall have no such liability), Account Owner will not take any other action or fail to take any action with respect to the Accounts that would materially adversely affect its rights as Account Owner (other than any rights of Account Owner
otherwise granted pursuant to or necessary for carrying out its obligations under this Agreement). 
  

	 	(ix)	Notice of Breach by Account Owner 

 Account Owner shall
notify Receivables Purchaser, in writing, as promptly as practicable following actual knowledge of or notice to Account Owner of the occurrence of any disputes with the Credit Card System and regulatory action or any event that has caused or, with
the lapse of time, will cause an Event of Default of Account Owner pursuant to Clause 5.2. 
  

	 	(x)	Contracts with Third Party Data Processors 

 Account Owner
shall enter into such contractual relationships with Third Party Data Processors as shall be mutually agreed by Receivables Purchaser and Account Owner (such agreement not to be unreasonably withheld or delayed subject to Account Owner being
indemnified to its reasonable satisfaction in relation thereto and appropriate back to back arrangements being agreed) as necessary or appropriate to ensure that it can perform its obligations under this Agreement and shall maintain such contractual
relationships in good standing during the term of this Agreement. 
  

	 	(xi)	Credit Card System 

 Account Owner shall within twenty
(20) Business Days of the date hereof provide to Receivables Purchaser copies of all of the then current Operating Regulations applicable to the Credit Card business and shall throughout the term of this Agreement upon twenty (20) Business
Days of Account Owner’s receipt thereof provide to Receivables Purchaser any updates or amendments thereto. Account Owner shall promptly notify Receivables Purchaser and Servicer if it becomes aware that any of the activities of Account Owner,
Receivables Purchaser or Servicer violate or could reasonably be expected to violate any of the Operating Regulations. 
  

	 	(xii)	Visa Undertaking Letter 

 Account Owner hereby agrees that
it will not agree to any release, compromise or granting of an indulgence by VISA Europe Services Inc. with respect to the Visa Undertaking Letter without the prior written consent of CCIA. 
  

 28 

	 	(b)	Covenants of Receivables Purchaser 

 Receivables Purchaser
hereby covenants and agrees with Account Owner and with Servicer with respect to Clause 4.1(b)(i), as follows: 
  

	 	(i)	Obligations 

 Receivables Purchaser will perform its
obligations under this Agreement in a timely manner and with due care. 
  

	 	(ii)	Compliance with Law 

 Receivables Purchaser will comply in
all material respects with all Requirements of Law and requirements of the Credit Card System (of which it is reasonably aware) the failure to comply with which would materially adversely affect the rights of Account Owner as owner of the Accounts
or result in the imposition of any liability or obligation on Account Owner. 
  

	 	(iii)	Other Rights of Account Owner 

 Receivables Purchaser will
not take any action or fail to take any action that is required of Receivables Purchaser hereunder that would materially adversely affect the rights of Account Owner under this Agreement or as owner of the Accounts, other than in the ordinary course
of business and only to the extent such action is required to comply with any applicable Requirements of Law. 
  

	 	(iv)	Notice of Breach by Receivables Purchaser 

 Receivables
Purchaser shall notify Account Owner, in writing, as promptly as practicable, following actual knowledge or notice to Receivables Purchaser of any event that has caused or, with the lapse of time, will cause an Event of Default pursuant to
Clause 5.2. 
  

	 	(v)	Records 

 Receivables Purchaser shall maintain for the
Term and for so long thereafter as it may be required pursuant to any Requirements of Law (and for one year after the Term) records and accounts appropriate and necessary to carry out its obligations hereunder and as reasonably standard throughout
the industry for proper accounting and audit purposes. 
  

	 	(vi)	Licences and Approvals: Receivables Purchaser: 

  

	 	a.	shall obtain all licences, approvals, authorisations and consents which are necessary to be obtained by it in connection with the performance of its obligations hereunder including,
without limitation, any applicable licences under the Consumer Credit Act and notifications under the Data Protection Act; 

  

 29 

	 	b.	shall maintain and, where necessary, renew all such licences, approvals, authorisations and consents throughout the term of this Agreement; and 

  

	 	c.	shall produce copies of all such licences, approvals, authorisations and consents to Account Owner at such times and upon such notice as Account Owner may reasonably request.

  

	 	(c)	Covenants of Servicer 

 Servicer hereby covenants and
agrees with Account Owner and Receivables Purchaser as follows: 
  

	 	(i)	Obligations 

 Servicer will perform its obligations under
this Agreement in a timely manner and with due care. 
  

	 	(ii)	Compliance with Law 

 In performing its obligations under
this Agreement, Servicer will comply in all material respects with all applicable Requirements of Law. Servicer also will comply with any written guidance from the FSA that applies to the Accounts or Servicer’s obligations under this Agreement.

  

	 	(iii)	Other Rights of Accounts Owner 

 Servicer will not take
any other action or fail to take any action with respect to the Accounts that would adversely affect the rights of Accounts Owner as owner of the Accounts, other than in the ordinary course of business and only to the extent such action is required
to comply with any applicable Requirements of Law. 
  

	 	(iv)	Servicer shall enter into such arrangements as may be mutually agreed by Receivables Purchaser and Account Owner (such agreement not to be unreasonably withheld or delayed) to be
necessary or appropriate to ensure: 

  

	 	a.	management of the Accounts process; 

  

	 	b.	settlement of payments as between Cardholders and Account Owner; 

  

	 	c.	settlement of payments as between Account Owner and its merchant creditors; and 

  

	 	d.	any other feature required to implement or operate the Accounts. 

  

 30 

 Servicer shall maintain all necessary contractual relationships in good standing during the Term and as
necessary thereafter for the purposes of its surviving obligations hereunder. 
  

	 	(v)	Licences and Approvals: Servicer: 

  

	 	a.	shall obtain all licences, approvals, authorisations and consents which are necessary to be obtained by it in connection with the performance of its obligations hereunder including,
without limitation, any applicable licences under the Consumer Credit Act and notifications under the Data Protection Act; 

  

	 	b.	shall maintain and, where necessary, renew all such licences, approvals, authorisations and consents throughout the term of this Agreement; and 

  

	 	c.	shall produce copies of all such licences, approvals, authorisations and consents to Account Owner at such times and upon such notice as Account Owner may reasonably request.

  

	 	(vi)	Records 

 Servicer shall maintain for the Term and for so
long thereafter as may be required by any Requirements of Law records and accounts appropriate and necessary to carry out its obligations hereunder and as reasonably standard throughout the industry for proper accounting and audit purposes.

  

	5.	TERM, EVENTS OF DEFAULT AND TERMINATION 

  

	5.1	Term 

 This Agreement shall commence as of the date first
set forth above and shall continue, subject to Clause 5.2 and Clause 5.3, for a period of five (5) years (the “Term”). Upon the expiration of such five (5) year Term, in the absence of a written
agreement of the parties to the contrary: 
  

	 	(a)	This Agreement shall terminate and Account Owner shall transfer the rights, title, interest, privileges and obligations of Account Owner in and to all the Accounts, whether open or
closed, Credit Cards, Cardholder Agreements, Books and Records, Cardholder Lists and all other assets otherwise directly and exclusively related to the Accounts, Credit Cards, Cardholder Agreements, Books and Records, Cardholder Lists and/or
Receivables (the “Accounts Assets”) to Receivables Purchaser or Receivables Purchaser’s designee; and 

  

	 	(b)	Receivables Purchaser shall pay all costs associated with such transfer such that Account Owner shall incur no cost or expense other than for its own out-of-pocket administrative
costs, fees and expenses, including but not limited to the fees and expenses of its legal counsel. 

  

 31 

	5.2	Events of Default 

 Each of the following shall be an
“Event of Default” hereunder with respect to each Party: 
  

	 	(a)	Failure of Performance. (i) A Party shall fail to perform a material obligation under this Agreement (other than a material obligation referred to in Clause 5.2(a)(ii)
or (iii) below) and does not cure such failure to the reasonable satisfaction of Account Owner, if the defaulting Party is Servicer or Receivables Purchaser, or to the reasonable satisfaction of Receivables Purchaser if the defaulting
Party is Account Owner, within twenty-two (22) Business Days after the date of the defaulting party’s receipt of written notice from another Party specifying such failure, (ii) Receivables Purchaser shall fail to maintain an amount
equal to the Settlement Reserve Account Amount in the Settlement Reserve Account and does not cure such failure within one (1) Business Day after receipt of written notice of such failure, and (iii) Receivables Purchaser or Account Owner
shall fail to perform a material obligation under the Receivables Purchase Agreement and does not cure such failure to the reasonable satisfaction of Account Owner, if the defaulting Party is Receivables Purchaser, or to the reasonable satisfaction
of Receivables Purchaser if the defaulting Party is Account Owner, within one (1) Business Day after the date of the defaulting party’s receipt of written notice from another Party specifying such failure; provided, however,
it shall not constitute an Event of Default hereunder if Receivables Purchaser fails to purchase new Receivables under the Receivables Purchase Agreement and such failure shall continue for no more than two Business Days and Account Owner makes a
withdrawal from the Settlement Reserve Account to fund the purchase price for such new Receivables; provided further, however, that any such failure specified in the preceding proviso shall occur no more than twice (2 times) in any six
calendar month period. 

  

	 	(b)	Insolvency. A Dissolution Event occurs in respect of any Party. 

  

	 	(c)	Account Owner is not a bank as defined for the purposes of Section 349(3)(a) of the Income and Corporation Taxes Act 1958 which is in the charge to United Kingdom corporation
tax as respects all amounts regarded as interest for United Kingdom purposes received by it as an Account Owner under this Agreement. 

  

	 	(d)	Any licence or authorization under the Consumer Credit Act or the Data Protection Act required for the performance of its obligations under this Agreement is withdrawn, declined
suspended or revoked or such Party otherwise fails to be licensed or authorised under either such Act for a period of more than five (5) Business Days. 

  

	 	(e)	The FSA revokes or materially and adversely restricts the authorisation of Account Owner under the Financial Services and Markets Act 2000. 

  

	 	(f)	Account Owner ceases to be a member of a Credit Card System. 

  

 32 

	5.3	Termination Rights 

 Each Party, reserving all other
remedies and rights hereunder, in whole or in part, may terminate this Agreement: 
  

	 	(a)	immediately upon written notice by a non-defaulting Party to the other Parties upon the occurrence of an Event of Default under Clause 5.2(b)(c)(d)(e) or
(f) with respect to a Party; 

  

	 	(b)	upon five (5) Business Days written notice by a non-defaulting Party to the other Parties upon the occurrence of an Event of Default under Clause 5.2(a)(i) with
respect to a Party and immediately upon written notice by a non-defaulting Party to the other Parties upon the occurrence of an Event of Default under Clauses 5.2(a)(ii) and (iii) with respect to a Party;

  

	 	(c)	immediately upon termination or expiration of the Receivables Purchase Agreement; and 

  

	 	(d)	upon one hundred twenty (120) days written notice to the other Parties upon the occurrence of (1) a Change In Law (or such shorter notice period as required by such Change
In Law) that the performance of the Party giving such termination notice is or has been materially and adversely affected by a Change in Law or (2) a change in the requirements of the Credit Card System that the performance of the Party giving
such termination notice is or has been materially and adversely affected by a change in the requirements of the Credit Card System (and for the avoidance of doubt, if either party receives notice from a third party of the proposed withdrawal of any
relevant operating permission or of any such related restriction, it shall notify the other party promptly). 

 For the
avoidance of doubt, if this Agreement is terminated due to an Event of Default by Receivables Purchaser for failure to purchase Receivables under the Receivables Purchase Agreement, then Account Owner shall have no obligation to fund any new
Receivables, and shall immediately transfer all existing and/or accrued Receivables to Receivables Purchaser and Account Owner may, subject to Requirements of Law and the applicable Cardholder Agreements, in its sole discretion cancel all Credit
Cards so as to avoid the creation of further Receivables. 
  

	5.4	Wind Down Period 

 The Parties agree that there will be a
six (6) month period for winding down the servicing and administration provided by Servicer pursuant to this Agreement and converting the Accounts to an alternative account owner or credit card issuer (“Wind Down Period”) that,
unless the Term is terminated under Clause 5.3, will commence upon the end of the Term. During the Wind Down Period, the parties shall use all commercially reasonable efforts to develop and implement a plan to convert the Accounts to such
alternative account owner or credit card issuer. Receivables Purchaser shall reimburse Account Owner for all reasonable out-of-pocket costs incurred by Account Owner in connection 

  

 33 

 
with the implementation of a plan to convert during the Wind Down Period. In the event the Wind Down Period begins upon termination or expiration of this
Agreement, the Parties shall continue to perform their obligations under this Agreement and the Related Agreements for the duration of the Wind Down Period. 
  

	5.5	Terms Associated with Transfer of Accounts 

 In the absence
of any written agreement between Account Owner and Receivables Purchaser to the contrary, in connection with any transfer effected pursuant to this Clause 5: 
  

	 	(a)	Each of Receivables Purchaser and Account Owner shall use their respective commercially reasonable efforts to preserve the goodwill of each other and to ensure a smooth and orderly
transition of the Accounts and forwarding of payments that relate to the Accounts received by Account Owner to the appropriate entity following such transfer; 

  

	 	(b)	Account Owner shall treat any third party transferee of the Accounts Assets as an Indemnified Receivables Purchaser Party for purposes of Clause 6, subject to the limitations
set forth therein; and 

  

	 	(c)	Account Owner shall, upon completion of such transfer of Accounts, deliver to Receivables Purchaser or Receivables Purchaser’s designee any Books and Records in Account
Owner’s possession or under its control, subject to any Requirements of Law relating to retaining duplicate books and records. 

  

	6.	INDEMNIFICATION 

  

	6.1	Account Owner’s Indemnification Obligations 

 Account
Owner shall be liable to and shall indemnify, defend and hold Receivables Purchaser and its Affiliates and their respective officers, directors, employees and permitted assigns (collectively, the “Indemnified Receivables Purchaser
Parties”) harmless from and against any and all Losses to the extent arising from or relating to (i) any breach by Account Owner of any representation or warranty made by Account Owner hereunder; (ii) any breach by Account Owner
of any covenant, agreement or undertaking expressly made by Account Owner under this Agreement; or (iii) any wrongful or negligent action or failure to act by Account Owner or any Affiliate in the performance of any obligation under this
Agreement to be performed by Account Owner that results in a claim against any of the foregoing persons or entities except, in any case, to the extent such Losses arise from the Indemnified Receivables Purchaser Parties’ negligence, fraud or
willful misconduct, PROVIDED ALWAYS that such breach and/or wrongful or negligent action or failure and such Losses are ascertained by a court of competent jurisdiction or agreed in a settlement approved in advance in writing by Account Owner.

  

 34 

	6.2	Servicer’s Indemnification Obligations 

 Servicer
shall be liable to and shall indemnify, defend and hold Account Owner and its Affiliates and their respective officers, directors, employees and permitted assigns (collectively, the “Indemnified AO Parties”) harmless from and
against any and all Losses arising from or relating to: (i) any breach by Servicer of any representation or warranty expressly made by Servicer under this Agreement; (ii) any breach by Servicer of any covenant, agreement or undertaking
expressly made by Servicer under this Agreement; or (iii) any wrongful or negligent action or failure to act by Servicer in the performance of any obligation under this Agreement to be performed by Servicer that results in a claim against any
of the Indemnified AO Parties except, in any case, to the extent such Losses arise from the negligence, fraud or willful misconduct of any Indemnified AO Party. 
  

	6.3	Receivables Purchaser’s Indemnification Obligations 

 Receivables Purchaser shall be liable to and shall indemnify, defend and hold the Indemnified AO Parties harmless from and against any and all Losses arising from or relating to: (i) any breach by Receivables Purchaser of any
representation or warranty expressly made by Receivables Purchaser under this Agreement; (ii) any breach by Receivables Purchaser of any covenant, agreement or undertaking expressly made by Receivables Purchaser under this Agreement;
(iii) indirectly or directly in connection with any breach of the warranties given by Seller in the Sale and Purchase Agreement; (iv) any claim of set-off by a Cardholder with respect to any Account Owner Section 75 Liability under
the Consumer Credit Act provided however that any recovery by Account Owner (a) in accordance with the statutory right of indemnification from suppliers (as defined in Section 189 of the Consumer Credit Act) and (b) made pursuant to
the right of “charge back” (if any) under the operating regulations of the relevant payment system in respect of the transaction giving rise to the Account Owner Section 75 Liability will be applied to reduce the loss to
Account Owner for the purpose of ascertaining claims hereunder or (v) any wrongful or negligent action or failure to act by Receivables Purchaser in the performance of any obligation under this Agreement to be performed by Receivables Purchaser
that results in a claim against any of the foregoing persons or entities except, in any case, to the extent such Losses arise from the negligence, fraud or willful misconduct of the Indemnified AO Parties. 
  

	6.4	Procedure 

  

	 	(a)	Notice of Claims. 

 The parties agree that in case any
claim is made or any suit or action is commenced by any party that is not a party to this Agreement or an Affiliate thereof with respect to Losses that may give rise to a right of indemnification (a “Third Party Claim”), or any
knowledge is received of a state of facts which, if not corrected, may give rise to a right of indemnification, for such party hereunder (“Indemnified Party”) from the other party (“Indemnifying Party”), the
Indemnified Party will give notice to the Indemnifying Party as promptly as practicable after the receipt by the Indemnified Party of notice or knowledge of such claim, suit, action or state of facts. Notice to the Indemnifying Party under 

  

 35 

 
the preceding sentence shall be given no later than fifteen (15) days after receipt by the Indemnified Party of service of process in the event a suit
or action has commenced or thirty (30) days under all other circumstances. The failure to give prompt notice shall not relieve an Indemnifying Party of its obligation to indemnify except to the extent the Indemnifying Party is prejudiced by
such failure. Such notice shall describe in reasonable detail the issue that has or may result in indemnification pursuant to Clause 6.1, 6.2 or 6.3. The Indemnified Party shall (i) provide to the Indemnifying Party
copies of all notices and documents (including court papers) received by the Indemnified Party relating to any Third Party Claim that are not separately addressed to the Indemnifying Party and (ii) make available to the Indemnifying Party and
its counsel and accountants at reasonable times and for reasonable periods, during normal business hours, all books and records of the Indemnified Party relating to any Third Party Claim or other claim for indemnification, and each party hereunder
will render to the other such assistance as it may reasonably require of the other in order to insure prompt and adequate defense of any suit, claim or proceeding based upon a state of facts which may give rise to a right of indemnification
hereunder. 
 The Indemnifying Party shall have the right to defend, compromise and settle any Third Party Claim in the name of the
Indemnified Party to the extent that the Indemnifying Party may be liable to the Indemnified Party in connection therewith. The Indemnifying Party shall notify the Indemnified Party within ten (10) Business Days of having received written
notice pursuant to this Clause 6.4(a) of the Third Party Claim whether the Indemnifying Party elects to assume the defense of any such Third Party Claim and employ counsel, provided that the Indemnified Party does not object to such
counsel in a reasonable exercise of its discretion. The Indemnified Party shall have the right to employ its own counsel if the Indemnifying Party so elects to assume such defense, but the fees and expenses of such counsel shall be at the
Indemnified Party’s expense, unless (i) the employment of such counsel shall have been authorized in writing by the Indemnifying Party; (ii) the Indemnifying Party shall not have employed counsel to take charge of the defense of such
action prior to or promptly after electing to assume the defense thereof, or (iii) in the reasonable judgment of counsel to the Indemnified Party, as evidenced in writing, there is a reasonable basis for a possible conflict of interest between
the Indemnified Party and the Indemnifying Party or there are defenses available to the Indemnified Party which are different from or additional to those available to the Indemnifying Party (in which case the Indemnifying Party shall not have the
right to direct the defense of such action on behalf of the Indemnified Party), in any of which events said reasonable fees and expenses shall be borne by the Indemnifying Party. 
  

	 	(b)	Settlement of Claims 

 The Indemnified Party may at any
time notify the Indemnifying Party of its intention to settle or compromise any claim, suit or action against the Indemnified Party (without the consent of the Indemnifying Party) in respect of which indemnification payments may be sought from the
Indemnifying Party hereunder, 

  

 36 

 
provided that the Indemnifying Party shall have no liability in respect of such settled or compromised claim, suit or action. Except to the extent provided
in the preceding sentence, the Indemnified Party may not settle or compromise any claim, suit or action against the Indemnified Party without the consent of the Indemnifying Party, which consent shall not be unreasonably withheld. 
  

	 	(c)	Time Limits 

 Any claims for indemnity pursuant to
Clause 6.1(i), Clause 6.2(i) or Clause 6.3(i) may be made during the Term and for a period of two years following the Term. Notwithstanding the preceding sentence, any covenant, agreement, representation or
warranty shall be deemed to survive the time at which it otherwise would have terminated pursuant to this Clause 6.4(c) solely for the purpose of resolving any claim with respect to which the Indemnified Party has submitted, in
accordance with this Clause 6, notice of the breach thereof or of the third party claim giving rise to such right to indemnity prior to such time. 
  

	 	(d)	Subrogation 

 The Indemnifying Party shall be subrogated
to any claims or rights of the Indemnified Party as against any other persons with respect to any amount paid by the Indemnifying Party under this Clause 6. The Indemnified Party shall cooperate with the Indemnifying Party, at the
Indemnifying Party’s expense, in the assertion by the Indemnifying Party of any such claim against such other persons. 
  

	6.5	Settlement Reserve Account 

  

	 	(a)	On or before the fifth (5th) Business Day prior to the BIN Transfer Date, Receivables Purchaser shall fund and maintain for the Term, for the benefit only of Account Owner, an
eligible deposit account held by Account Owner (the “Settlement Reserve Account”) bearing a designation clearly indicating that the funds deposited therein are held for the benefit only of Account Owner. Receivables Purchaser hereby
agrees to grant to Account Owner a security interest in the Settlement Reserve Account and the funds deposited therein in order to secure Receivables Purchaser’s obligation to purchase new or accrued receivables under the Receivables Purchase
Agreement and/or settle claims for any Receivables not transferred thereunder. 

  

	 	(b)	All interest on funds on deposit in the Settlement Reserve Account shall be retained in the Settlement Reserve Account for the benefit only of Account Owner.

  

	 	(c)	 The amount on deposit in the Settlement Reserve Account shall be equal to (i) as of the fifth (5th) Business Day before the BIN Transfer Date, nine
million pounds (UK£9,000,000) and (ii) throughout the Term for each calendar quarter thereafter, the Average Daily Purchases for the calendar month preceding such quarter multiplied by three (in each case, the “Settlement Reserve
Account Amount”) or, in each case, as determined by the Credit Card System from time to time in its sole discretion. On the first day of each calendar quarter during the Term beginning 1 

  

 37 

	 	 
April 2007, Servicer and Account Owner shall calculate and agree the Settlement Reserve Account Amount. In the event there is a deficiency in the Settlement
Reserve Account, Receivables Purchaser shall, immediately on request of Account Owner, deposit the amount of such deficiency into the Settlement Reserve Account. In the event there is a surplus in the Settlement Reserve Account, such surplus shall,
with the prior written approval of Account Owner, be withdrawn and paid to Receivables Purchaser. 

  

	 	(d)	Notwithstanding and without compromise to Account Owner’s other rights and remedies under this Agreement and/or any other Related Agreement, if on any day, Receivables
Purchaser fails to pay the full purchase price due to Account Owner for the purchase of new Receivables, Account Owner shall withdraw the amount of the shortfall from the Settlement Reserve Account and apply such funds to the purchase of any new
Receivables. Account Owner shall provide Receivables Purchaser written notice of any withdrawal from the Settlement Reserve Account. Within one Business Day after the Receivables Purchaser receives notice of a withdrawal from the Settlement Reserve
Account by the Account Owner, Receivables Purchaser shall deposit further funds into the Settlement Reserve Account so that the amount on deposit in the Settlement Reserve Account equals the Settlement Reserve Account Amount.

  

	 	(e)	Upon the termination of this Agreement and the transfer of all new and accrued Receivables to Receivables Purchaser and the settlement of any and all outstanding claims, all amounts
on deposit in the Settlement Reserve Account shall be released from the security interest withdrawn and paid to Receivables Purchaser and the Settlement Reserve Account shall be closed. 

  

	 	(f)	Receivables Purchaser hereby grants to Account Owner during the Term and until the Settlement Reserve Account is closed pursuant to Clause 6.5(e) irrevocable authority to
credit monies to and debit monies from the Settlement Reserve Account for the purposes of and as necessary under this Agreement. 

  

	6.6	Convenience Cheque Account 

  

	 	(a)	Receivables Purchaser shall maintain for the Term, for the benefit only of Account Owner, a current account held by Account Owner (the “Convenience Cheque Account”)
bearing a designation clearly indicating that the funds deposited therein are held for the benefit only of Account Owner. Receivables Purchaser hereby agrees to grant to Account Owner a security interest in the Convenience Cheque Account and the
funds deposited therein in order to secure Receivables Purchaser’s obligation to clear convenience cheques issued in connection with the Accounts. 

  

	 	(b)	All interest, if any, on funds on deposit in the Convenience Cheque Account shall be retained in the Convenience Cheque Account for the benefit of Account Owner.

  

	 	(c)	 Receivables Purchaser shall reimburse Account Owner on each Business Day for the full amount cleared on such Business Day as notified to Receivables Purchaser

  

 38 

	 	 
by Account Owner in writing with respect to convenience cheques issued with respect to the Accounts. Receivables Purchaser shall reimburse Account Owner for
all fees and costs levied by the bank at which the Convenience Cheque Account is held. 

  

	 	(d)	Upon the termination of this Agreement and the transfer of all new and accrued Receivables to Receivables Purchaser and the settlement of any and all outstanding claims, all
amounts, if any, on deposit in the Convenience Cheque Account shall be released from the security interest withdrawn and paid to Receivables Purchaser and the Convenience Cheque Account shall be closed. 

  

	 	(e)	Receivables Purchaser hereby grants to Account Owner during the Term and until the Convenience Cheque Account is closed pursuant to Clause 6.6(d) irrevocable authority to
credit monies to and debit monies from the Convenience Cheque Account for the purposes of and as necessary under this Agreement. 

  

	7.	CARDHOLDER DATA 

  

	7.1	Cardholder Data 

 Notwithstanding any of the provisions of
this Agreement, in relation to Cardholder Data (which for the avoidance of doubt includes Personal Data) the parties acknowledge that Clauses 7 and 8 shall apply. 
  

	7.2	Property of Account Owner 

 The parties acknowledge that
the Cardholder Data is the property of the Account Owner, and that in the course of performing their advisory services and obligations under this Agreement the Servicer, Receivables Purchaser and any of their Affiliates shall need access to the
Cardholder Data. 
  

	7.3	Storage and Disclosure of Cardholder Data 

 The Servicer
and Receivables Purchaser (and any of their Affiliates) shall only: 
  

	 	(a)	store, copy or use the Cardholder Data, and 

  

	 	(b)	disclose the Cardholder Data to: 

  

	 	(i)	a third party with the prior consent of the Account Owner, and 

  

	 	(ii)	its employees, directors, agents, subcontractors and professional advisers, 

 to the extent reasonably required to perform its obligations under this agreement (or in the case of professional advisers on a strict need to know basis) or as required or otherwise permitted to do so under
Requirements of Law. 
  

 39 

	8.	DATA PROTECTION 

  

	8.1	Definitions 

 The terms process (and its
derivatives), data subject, data controller, and data processor shall, where used in this clause, have the meanings given to them under the Data Protection Act. 
  

	8.2	Data Controller and Data Processors 

 The parties agree
that in respect of any Cardholder Data that is Personal Data processed by the Servicer, Receivables Purchaser or any of their Affiliates, the Account Owner is the data controller and the Servicer, Receivables Purchaser or any of their Affiliates are
data processors. Servicer and Receivables Purchaser shall ensure that each and any of their Affiliates that have access to the Cardholder Data comply with its obligations under the Data Protection Act and the provisions of Clauses 7 and 8 of
this Agreement. 
  

	8.3	Compliance with Data Protection Act 

 Each party shall
comply with its obligations under the Data Protection Act in relation to the Cardholder Data processed by the Servicer, Receivables Purchaser or any of their Affiliates in connection with the advisory services being provided by the Servicer,
Receivables Purchaser or their Affiliates under this Agreement. 
  

	8.4	Processing of Personal Data 

 Unless the Account Owner
requires otherwise in writing, the Servicer, Receivables Purchaser (and any of their Affiliates) shall only undertake processing of Personal Data in accordance with Clause 7.3. 
  

	8.5	Maintain Security 

 The Servicer, Receivables Purchaser
(and any of their Affiliates as required) shall bring into effect and maintain appropriate technical and organisational measures to maintain security and to prevent unauthorised or unlawful access to or processing of Cardholder Data that is Personal
Data and accidental loss or destruction of, or damage to such Personal Data. 
  

	8.6	Compliance with Terms of Schedule 

 The Account Owner and
Receivables Purchaser are to comply with the terms of Schedule 8.6 with regards to any Cardholder Data that is Personal Data that has been transferred to Receivables Purchaser outside the EEA by or on behalf of the Account Owner (including by
the Servicer) 
  

 40 

	8.7	Transfer of Personal Data Outside EEA 

 The parties have
agreed that the Servicer, Receivables Purchaser or any of their Affiliates, may transfer Cardholder Data that is Personal Data to any country or territory outside the EEA provided that, and only for so long as: 
  

	 	(a)	in respect of any such country or territory there has been a European Community finding of adequacy pursuant to Article 25(6) of the EC Data Protection Directive in respect of that
country or territory; or 

  

	 	(b)	the transfer falls within the scope of the Safe Harbor scheme operated by the US Department of Commerce. 

  

	9.	MISCELLANEOUS PROVISIONS 

  

	9.1	Amendment 

 This Agreement and the rights and obligations
of the parties hereunder and thereunder may not be changed orally, but only by an instrument in writing signed by Account Owner, Servicer and Receivables Purchaser in accordance with this Clause 9.1. 
  

	9.2	Governing Law 

 This agreement shall be governed by and
construed in accordance with the laws of England and Wales. 
  

	9.3	Submission 

 For the benefit of Account Owner and the
Servicer, the Receivables Purchaser agrees that the courts of England have jurisdiction to settle any disputes in connection with this Agreement and accordingly submits to the jurisdiction of the English courts. 
  

	9.4	Service of Process 

 Without prejudice to any other mode of
service Receivables Purchaser: 
  

	 	(i)	irrevocably appoints CompuCredit UK as its agent for service of process in relation to any proceedings before the English courts in connection with this Agreement;

  

	 	(ii)	agrees to maintain such an agent for service of process in England during the term of this Agreement; 

  

	 	(iii)	agrees that failure by a process agent to notify Receivables Purchaser of the process will not invalidate the proceedings concerned; 

  

	 	(iv)	consents to the service of process relating to any such proceedings by prepaid posting of a copy of the process to its address for the time being applying under this Agreement; and

  

 41 

	 	(v)	agrees that if the appointment of any person mentioned in above ceases to be effective, Receivables Purchaser shall immediately appoint a further person in England to accept service
of process on its behalf in England and, failing such appointment within five (5) days, Servicer shall be entitled to appoint such a person by notice to Account Owner. 

  

	9.5	Notices 

 All demands, notices and communications hereunder
to any party shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by certified mail, return receipt requested, or sent via telecopy, with telephonic confirmation, or electronic transmission, receipt
requested, to the notice address for such party as set forth below or, as to each party, at such other address as shall be designated by such party in a written notice to each other party: 
  

			
	Account Owner:	  	 R. Raphael & Sons Plc
 Walton Lodge
 Walton Street
 Aylesbury, Buckinghamshire
 HP21 7QY
 Attention: Tony Pooley
 Phone: 44 01 296 436 661
 Fax: 44 01 296 423 041

		
		  	 (with a courtesy copy to
 Clintons
 55 Drury Lane
 London WC2B 5RZ
 Attn: TAF)

		
	Receivables Purchaser or Servicer:	  	 CompuCredit International Acquisition Corp.
 3993 Howard
Hughes Parkway
 Suite 250, Office 269
 Las Vegas, NV
98169
 Attention: Joshua Miller
 Phone: 1 (702)
949-0162
 Fax: 1 (702) 598-3651

		
		  	With a copy to:
		
		  	 CompuCredit Corporation
 245 Perimeter Center Parkway,
Suite 600
 Atlanta, Georgia 30346
 Attn: General
Counsel
 Telephone: 770-206-6200
 Fax No.:
770-206-6187

  

 42 

	9.6	Severability of Provisions 

 If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions, or terms shall be deemed severable from the remaining covenants, agreements, provisions, and
terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement. 
  

	9.7	Further Assurances 

 Account Owner, Servicer and
Receivables Purchaser agree to do and perform, from time to time, at the expense of the requesting party, any and all acts and to execute any and all further instruments required or reasonably requested by any other party more fully to effect the
purposes of this Agreement. 
  

	9.8	No Waiver; Cumulative Remedies 

 No failure to exercise and
no delay in exercising any right, remedy, power or privilege hereunder on the part of Account Owner, Servicer or Receivables Purchaser shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. Except as provided in Clause 5, the rights, remedies, powers and privileges herein provided are cumulative and not
exhaustive of any rights, remedies, powers and privileges provided by law. 
  

	9.9	Counterparts 

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

	9.10	Binding 

 This Agreement will inure to the benefit of and
be binding upon the parties hereto and their respective successors and permitted assigns. 
  

	9.11	Third Party Rights 

 The Parties to this Agreement do not
intend that any of its terms shall be enforceable by any third party who could not be able to enforce such terms other than by virtue of the Contracts (Right of Third Parties) Act 1999. 
  

	9.12	Merger and Integration 

 Except as specifically stated
otherwise herein, this Agreement, the Receivables Purchase Agreement and the Sale and Purchase Agreement sets forth the entire understanding of 

  

 43 

 
the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement. This Agreement may not be
modified, amended, waived or supplemented except as provided herein. 
  

	9.13	Headings 

 The headings are for purposes of reference only
and shall not otherwise affect the meaning or interpretation of any provision hereof. 
  

	9.14	Survival 

 The provisions of Clauses 6.01,
6.02 and 6.03 shall survive termination of this Agreement. 
  

	9.15	Acknowledgement and Agreement of Account Owner 

 Account
Owner expressly acknowledges and agrees that all of Receivable Purchaser’s right, title and interest in, to, and under this Agreement will be assigned by Receivables Purchaser to Partridge Funding Corporation, and Partridge Funding Corporation
will grant a security interest therein to Deutsche Bank Trust Company Americas in its capacity as indenture trustee, and Account Owner consents to such assignments. 
  

	9.16	Liability 

 If any party becomes aware of a matter that
could give rise to a claim for a breach of warranty under this Agreement, such party shall notify the other parties as soon as reasonably practicable and in any event within 60 days of a responsible officer of such party becoming actually aware of
the facts giving rise to such claim (such notice to contain reasonable particulars of such facts and the amount of such claim), provided that failure to give such notice shall not prejudice that party’s ability to claim in respect of the breach
of warranty. 
 Neither party shall be liable to the other party for loss of future contracts or opportunity or, except as provided in
Clause 2.4, any harm to the goodwill or reputation of the other party or indirect or consequential loss or damage, in each case, whether arising from tort, including negligence, breach of contract, under any indemnity under this Agreement, or
at law or otherwise. Notwithstanding anything to the contrary contained in this Agreement, neither party excludes or limits liability for fraud or for death or personal injury resulting from a negligent act or omission of its employees, agents or
subcontractors. 
 For the avoidance of doubt, Account Owner shall not be liable for any claim by Receivables Purchaser to the extent that
such claim relates to any warranty of the Seller in the Sale and Purchase Agreement which is not true and correct. 
 Without prejudice to any
duty it may have at common law or otherwise, each party shall use reasonable endeavours to mitigate any loss or damage which it may suffer in consequence of any breach by another party of the warranties or provisions of this Agreement. 

 

 44 

 Subject to the provisions of Clauses 5.1 and 5.3, no party shall be entitled to rescind
this Agreement after the Closing Date in any circumstances. 
 Notwithstanding any other provision of this Agreement, in calculating the
liability of the Account Owner under this Agreement for a breach of a warranty claim, the losses suffered by the Receivables Purchaser shall be assessed on the basis that the amount of such losses are deemed to be the same amount as that which the
Receivables Purchaser would have suffered had it not taken any action to securitize any of the Purchased Assets but had retained the entire legal and beneficial interest. 
  

	9.17	Guarantee 

  

	 	(a)	The Receivables Purchaser hereby irrevocably and unconditionally guarantees in favour of Account Owner (as principal and not merely as surety) that it shall (on demand by Account
Owner) immediately discharge the liabilities of Servicer to Account Owner under the terms of this Agreement. 

  

	 	(b)	The guarantee set out in Clause 9.17(a) above is a continuing guarantee and will extend to the ultimate balance of sums payable by the Servicer under this Agreement, and
shall remain in force and in effect until Servicer has performed and discharged all of its obligations under this Agreement regardless of any intermediate payment or discharge in whole or in part. 

  

	 	(c)	Receivables Purchaser’s liability under Clause 9.17(a) above shall not be affected by any act, omission, matter or thing which, but for this Clause 9.17, would
reduce, release or prejudice any of its obligations under this Clause 9.17 (without limitation and whether or not known to it) including any concession, time, indulgence or release granted by Account Owner to Servicer or by any payment or
other dealing or anything else which would, but for this Guarantee, operate to discharge or reduce that liability. 

  

	 	(d)	The Receivables Purchaser hereby indemnifies the Account Owner immediately on demand against any cost, loss or liability suffered by Account Owner if anything causes any of
Servicer’s obligations under this Agreement to be or become invalid or unenforceable or illegal. 

  

	 	(e)	For the avoidance of doubt, this Guarantee shall be effective only if the Receivables Purchaser and Servicer are separate legal entities. 

  

 45 

	9.18	No Partnership 

 Nothing in this Agreement and no action
taken by the Parties under this Agreement shall constitute a partnership, association, joint venture or other co-operative entity between any of the Parties. There shall be no relationship between the Account Owner, on one hand, and the Receivables
Purchaser or the Servicer, on the other hand, other than as separate business contracting on the terms of this Agreement. 
  

	9.19	Visa Undertaking Letter 

 Each Party to this Agreement
undertakes that it will comply with its obligations under the Visa Undertaking Letter. 
  

 46 

 IN WITNESS WHEREOF, Account Owner, Servicer and Receivables Purchaser have caused this Account Ownership Agreement to be
duly executed by their respective officers as of the day and year first above written. 
  

			
	R. RAPHAEL & SONS PLC
		
	By:	 	 /s/ Firoz Tejani

	Name:	 	Firoz Tejani
	Title:	 	Director
	
	COMPUCREDIT INTERNATIONAL ACQUISITION CORPORATION
		
	By:	 	 /s/ Joshua C. Miller

	Name:	 	Joshua C. Miller
	Title:	 	Assistant Secretary

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