Document:

SERVICES AGREEMENT DATED AUGUST 1, 2003

 Exhibit 10.9 
  
 SERVICES AGREEMENT 
  
 Services Agreement (the “Agreement”), dated August 1, 2003, between Cybex International, Inc. (“Cybex”), a New York corporation and UM
Holdings, Ltd., (“UM Holdings”), a New Jersey corporation. 
  
 WHEREAS, Jordan Mersky (the “Shared Employee”) is an attorney licensed to practice law in the States of New Jersey and New York. 
  
 WHEREAS, the Shared Employee currently serves as Vice President and General Counsel of UM Holdings; 
  
 WHEREAS, Cybex wishes to retain the services of the Shared Employee to serve
as its General Counsel to perform the functions and duties of such office, in a high-quality, cost effective manner; 
  
 WHEREAS, given its investment in Cybex, UM Holdings believes it to be in its best interest to assist Cybex in its above stated wishes; and 
  
 NOW, THEREFORE, for good and valuable consideration, the parties, intending
to be legally bound, agree as follows: 
  

	 	1.	Term. The initial term of this Agreement shall commence on August 8, 2003 and expire on December 31, 2003 (the “Initial Term”). After the expiration of the Initial
Term, this Agreement shall renew for successive one (1) year periods (the “Renewal Terms”) unless and until cancelled in accordance with the provisions hereof. 

  

	 	2.	Services. During the Initial Term and any and all Renewal Terms (hereinafter referred to as the “Term”), the Shared Employee shall remain as an employee of UM
Holdings. It is expected that the Shared Employee will expend approximately eighty percent (80%), but any event not less than fifty percent (50%), of his time performing duties hereunder. 

  

	 	3.	Fees. (a) As full compensation for the services to be provided hereunder, Cybex shall pay to UM Holdings fees at the rate of $120,000 per annum, payable in equal monthly
installments, for so long as this Agreement remains in effect. Cybex will also be responsible for expenses as provided in paragraph 4 below. 

  

	 	(b)	The Shared Employee shall in no event be deemed to be an employee or independent contractor of Cybex, and UM Holdings will remain responsible for the compensation, benefits and
related payroll taxes and withholding for the Shared Employee. 

  

	 	4.	Conditions. 

  

	 	(A)	 During the Term, the Shared Employee shall receive a salary from UM Holdings, including benefits; such salary and benefits shall be 

	 	 
reviewed from time to time and adjusted by UM Holdings in its sole discretion. 

  

	 	(B)	During the Term, all approved training, seminar or other costs incurred by the Shared Employee; (i) for the sole benefit of Cybex shall be borne by Cybex; (ii) for the sole benefit
of UM Holdings shall be borne by UM Holdings; and (iii) for the mutual benefit of Cybex and UM Holdings shall be split evenly between Cybex and UM Holdings. Notwithstanding this paragraph, should Shared Employee incur costs at the specific request
of either Cybex or UM Holdings, then regardless of the benefits received by either entity, the requesting entity shall bear any and all resultant costs. 

  

	 	(C)	Cybex shall be responsible for all of the expenses incurred by the Shared Employee for the benefit of Cybex only to the extent such expenses would have been reimbursed by Cybex
through its normal approval process. 

  

	 	5.	Confidentiality. The Shared Employee shall keep strictly confidential all information concerning Cybex or any of the business or activities of Cybex, and during the Term of
the Agreement shall perform his duties so as to respect the principles and intent of the respective codes of conduct and ethics of Cybex and UM Holdings, and the Shared Employee will sign such instruments with respect thereto the terms of which
shall be reasonably negotiated by the respective parties. 

  

	 	6.	Termination. Cybex or UM Holdings may terminate this Agreement at any time during the Term on one (1) month written notice, provided, however, that this Agreement may be
terminated on less than one (1) month written notice on terms that are mutually acceptable to Cybex and UM Holdings. In the event of termination, Cybex shall promptly pay to UM Holdings all amounts due and owing under the term of this Agreement up
to and including the date of termination. 

  

	 	7.	Notices. Any notice made under this Agreement shall be deemed given to the other party if in writing and personally delivered; sent by registered mail; or sent by facsimile
transmission, addressed as follows: 

  
 If to Cybex: 
  
 Cybex International,
Inc. 
 Attention: Jennifer Noeldner 
 10 Trotter Drive 
 Medway, MA 02053 
 (508) 533-5500 (fax) 
  
 If to UM Holdings: 
  
 UM Holdings, Ltd. 
 Attention: Joan Carter 
  

 2 

 56 Haddon Avenue 
 Haddonfield, NJ 08033 
 (856) 354-2216 (fax) 
  

	 	8.	Responsibilities. UM Holdings’ responsibilities under this Agreement is to use normal business efforts to cause the Shared Employee to render the services called for
hereunder in a manner reasonably satisfactory to Cybex. No party shall be liable or held accountable for any mistakes of fact or law or for any loss or damage to the other party arising or resulting therefrom or for errors of judgment, or otherwise
for any acts or omissions, so long as it acts in good faith and with reasonable diligence. 

  

	 	9.	Legal Relationship. It is not the intention of the parties that this Agreement or the operation thereof shall create a legal relationship between them which could be
construed as agency, partnership or joint venture. 

  

	 	10.	Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter of this Agreement and there are no representations or
warranties, express or implied statutory or otherwise and no agreements collateral to this Agreement other than expressly set forth or referred to herein. 

  

	 	11.	Further Acts. Each of the parties will, at the reasonable request of the other, take such steps or provide such further assistance as may be required to enable the due
performance of the terms and conditions of the Agreement. 

  

	 	12.	Applicable Law. This Agreement shall be construed, interpreted and applied in the Courts and according to the laws of the State of New Jersey. 

  
 IN WITNESS WHEREOF, Cybex and UM Holdings have caused this Agreement to be
executed as of the date first written above by their respective officers thereunto duly authorized. 
  

	 CYBEX INTERNATIONAL, INC.

		
	 By:
	 	 /s/ John Aglialoro

	 Name:
	 	 John Aglialoro

	 Title:
	 	 
	
	 UM HOLDINGS, LTD.

		
	 By:
	 	 /s/ Joan Carter

	 Name:
	 	 Joan Carter

	 Title:
	 	 President

  

 3EXHIBIT 4.1

 Exhibit 4.1 
  

EXECUTION COPY 
  

 
 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 
  
 as Issuer 
  
 and 
  
 THE BANK OF NEW YORK 
  
 as Indenture Trustee 
  
 CLASS A(2003-6) TERMS DOCUMENT 
  
 dated as of October 24, 2003 
  
 to

  
 CARD SERIES INDENTURE SUPPLEMENT 
  
 dated as of October 9, 2002 
  
 to 
  
 ASSET POOL 1 SUPPLEMENT 
  
 dated as of October 9, 2002 
  
 to 
  
 INDENTURE 
  
 dated as of October 9, 2002 
  

  

 TABLE OF CONTENTS 
  

	 	  	 	  	Page

			
	 	  	ARTICLE I	  	 
	 	  	Definitions and Other Provisions of General Application	  	 
			
	 Section 1.01.
	  	Definitions	  	1
			
	 Section 1.02.
	  	Governing Law	  	6
			
	 Section 1.03.
	  	Counterparts	  	7
			
	 Section 1.04.
	  	Ratification of Indenture, the Asset Pool 1 Supplement and Indenture Supplement	  	7
			
	 	  	ARTICLE II	  	 
	 	  	The Class A(2003-6) Notes	  	 
			
	 Section 2.01.
	  	Creation and Designation	  	8
			
	 Section 2.02.
	  	Adjustments to Required Subordinated Percentages	  	8
			
	 Section 2.03.
	  	Interest Payment	  	8
			
	 Section 2.04.
	  	[Reserved]	  	9
			
	 Section 2.05.
	  	Payments of Interest and Principal	  	9
			
	 Section 2.06.
	  	Form of Delivery of Class A(2003-6) Notes; Depository; Denominations	  	9
			
	 Section 2.07.
	  	Delivery and Payment for the Class A(2003-6) Notes	  	9
			
	 Section 2.08.
	  	Targeted Deposits to the Accumulation Reserve Account	  	9
			
	 Section 2.09.
	  	[Reserved]	  	9
			
	 Section 2.10.
	  	Tax Treatment	  	10

  

 i 

 THIS CLASS A(2003-6) TERMS DOCUMENT (this “Terms Document”), by and between CAPITAL ONE
MULTI-ASSET EXECUTION TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at E. A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre
Road, Wilmington, DE 19805 and THE BANK OF NEW YORK, a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of October 24, 2003. 
  
 Pursuant to this Terms Document, the Issuer shall create a new tranche of
Class A Notes and shall specify the principal terms thereof. 
  
 ARTICLE I 
  
 Definitions and Other Provisions of General
Application 
  
 Section 1.01. Definitions. For all purposes
of this Terms Document, except as otherwise expressly provided or unless the context otherwise requires: 
  

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

  

	 	(2)	all other terms used herein which are defined in the Indenture Supplement, the Asset Pool 1 Supplement or the Indenture, either directly or by reference therein, have the meanings
assigned to them therein; 

  

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

  

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

  

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

  

	 	(6)	in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Indenture Supplement, the Asset Pool 1
Supplement, the Indenture or the Transfer and Administration Agreement, the terms and provisions of this Terms Document shall be controlling; 

  

	 	(7)	each capitalized term defined herein shall relate only to the Class A(2003-6) Notes and no other Tranche of Notes issued by the Issuer; and 

  

 1 

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

  
 “Accumulation Period Amount” means $41,666,666.67;
provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in
the definition of “Accumulation Period Amount” in the Indenture Supplement. 
  
 “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period Length is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the
period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class
A(2003-6) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the first Distribution Date following and including the September 2004 Distribution Date for which the Quarterly Excess Spread
Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 12 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the
Principal Funding sub-Account for the Class A(2003-6) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (iii) the Monthly Period following the first Distribution Date following and including the March 2005 Distribution Date for
which the Quarterly Excess Spread Percentage is less than 3%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 6 months prior to the first Distribution Date for which a budgeted deposit is
targeted to be made into the Principal Funding sub-Account for the Class A(2003-6) Notes pursuant to Section 3.10(b) of the Indenture Supplement, and (iv) the Monthly Period following the first Distribution Date following and including the
May 2005 Distribution Date for which the Quarterly Excess Spread Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 4 months prior to the first Distribution Date for
which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for the Class A(2003-6) Notes pursuant to Section 3.10(b) of the Indenture Supplement and (y) ending on the close of business on the last day of the
Monthly Period preceding the earlier to occur of (i) the Expected Principal Payment Date for the Class A(2003-6) Notes and (ii) the date on which the Class A(2003-6) Notes are paid in full. 
  
 “Asset Pool 1 Supplement” means the Asset Pool 1 Supplement
dated as of October 9, 2002, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
  
 “Base Rate” means, with respect to any Monthly Period, the sum of (a) the Card Series Servicing Fee Percentage and (b) the weighted
average (based on the Outstanding Dollar Principal Amount of the related Card Series Notes) of the following: 
  
 (i) in the case of a Tranche of Card Series Dollar Interest-bearing Notes with no Derivative Agreement for interest, the rate of interest
applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche
of Card Series Dollar Interest-bearing Notes in the following Monthly Period; 
  

 2 

 (ii) in the case of a Tranche of Card Series Discount Notes, the rate of accretion
(converted to an accrual rate) of such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Discount Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such
Tranche of Card Series Discount Notes in the following Monthly Period; 
  
 (iii) in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue (prior to the netting
of such payments, if applicable) for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series
Notes in the following Monthly Period; provided, however, that in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement for interest in which the rating on such Tranche of Card Series Notes is not dependant upon the
rating of the applicable Derivative Counterparty, the amount determined pursuant to this clause (iii) will be the higher of (1) the rate determined pursuant to this clause (iii) above and (2) the rate of interest applicable to such Tranche for the
period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; and

  
 (iv) in the case of a tranche of Card Series
Notes with a non-Performing Derivative Agreement for interest, the rate specified for that date in the related Terms Document. 
  
 “Calculation Agent” is defined in Section 2.04(a). 
  
 “Class A(2003-6) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event
with respect to the Class A(2003-6) Notes or (b) an Event of Default and acceleration of the Class A(2003-6) Notes. 
  
 “Class A(2003-6) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated
therein as a Class A(2003-6) Note and duly executed and authenticated in accordance with the Indenture. 
  
 “Class A(2003-6) Noteholder” means a Person in whose name a Class A(2003-6) Note is registered in the Note Register. 
  
 “Class A(2003-6) Termination Date” means the earliest to
occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2003-6) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to
Article VI thereof. 
  
 “Excess Spread
Percentage” shall mean, with respect to any Distribution Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
  

 3 

 “Expected Principal Payment Date” means October 16, 2006. 
  
 “Initial Dollar Principal Amount” means $500,000,000.

  
 “Indenture” means the Indenture dated as of
October 9, 2002, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
  
 “Indenture Supplement” means the Card Series Indenture Supplement dated as of October 9, 2002, by and between the Issuer and the
Indenture Trustee, as amended and supplemented from time to time. 
  
 “Interest Payment Date” means the fifteenth day of each month commencing in November 2003, or if such fifteenth day is not a Business Day, the next succeeding Business Day. 
  
 “Interest Period” means, with respect to any Interest
Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and including the Issuance Date) through the day preceding such Interest Payment Date. 
  
 “Issuance Date” means October 24, 2003. 
  
 “Legal Maturity Date” means August 17, 2009. 
  
 “Maximum Subordination Amount of Class B Notes” means, for
the Class A(2003-6) Notes for any date of determination, an amount equal to the product of (a) Adjusted Outstanding Dollar Principal Amount of the Class A(2003-6) Notes on such date of determination and (b) the percentage equivalent of a fraction,
the numerator of which is 10 and the denominator of which is 81.25. 
  
 “Note Interest Rate” means a rate per annum equal to 2.95%. 
  
 “Paying Agent” means The Bank of New York. 
  
 “Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction: 
  
 (a) the numerator of which is equal to the sum of: 
  
 (i) the aggregate amount of Finance Charge Amounts allocated to the Card Series with respect to such Monthly
Period; plus 
  
 (ii) the aggregate amount
of Interest Funding sub-Account Earnings on all Tranches of Card Series Notes for such Monthly Period; plus 
  
 (iii) any amounts to be treated as Card Series Finance Charge Amounts pursuant to Sections 3.20(d) and 3.27(a) of the
Indenture Supplement; minus 
  

 4 

 (iv) the excess, if any, of (1) the sum of the PFA Prefunding Earnings Shortfall
plus the PFA Accumulation Earnings Shortfall over (2) the sum of the aggregate amount to be treated as Card Series Finance Charge Amounts for such Monthly Period pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture
Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of Card Series Notes for such Monthly Period; minus 
  
 (v) the Card Series Default Amount for such Monthly Period;
and 
  
 (b) the denominator of which is the numerator used in the
calculation of the Card Series Floating Allocation Percentage for such Monthly Period. 
  
 “Quarterly Excess Spread Percentage” means, with respect to the September 2004 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which
is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three. 
  
 “Record Date” means, for any Distribution Date, the last Business Day of the preceding Monthly Period. 
  
 “Required Accumulation Reserve sub-Account Amount” means,
with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2003-6) Notes as of the close of business on the last day of the preceding
Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not
occur with respect to such change. 
  
 “Required
Subordinated Amount of Class B Notes” means, for the Class A(2003-6) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class B Notes for such Class A(2003-6) Notes on such
date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2003-6) Notes on such date of determination; provided, however, that such an amount shall not exceed the Maximum Subordination Amount of
Class B Notes for the Class A(2003-6) Notes; provided further, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2003-6) Adverse Event, the Required Subordinated
Amount of Class B Notes for the Class A(2003-6) Notes will be the greater of (x) the amount determined above for such date of determination and (y) the amount determined above for the date immediately prior to the date on which such Class A(2003-6)
Adverse Event shall have occurred. 
  
 “Required
Subordinated Amount of Class C Notes” means, for the Class A(2003-6) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class C Notes for such Class A(2003-6) Notes on such
date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2003-6) Notes on such date of determination; provided, however, that for any date of determination, unless (i) the Prefunding Target Amount
for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal 
  

 5 

 Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the Required Subordinated Amount
of Class C Notes for the Class A(2003-6) Notes will not be less than an amount equal to (i) 3.0% of the Initial Dollar Principal Amount of the Class A(2003-6) Notes, minus (ii) the Required Subordinated Amount of Class D Notes for the Class
A(2003-6) Notes; provided further, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2003-6) Adverse Event, the Required Subordinated Amount of Class C Notes for the
Class A(2003-6) Notes will be the greater of (x) the amount determined above for such date of determination, (y) the amount determined above for the date immediately prior to the date on which such Class A(2003-6) Adverse Event shall
have occurred and (z) unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of
determination for any Tranche of Card Series Notes, the amount determined pursuant to the preceding proviso. 
  
 “Required Subordinated Amount of Class D Notes” means, for the Class A(2003-6) Notes for any date of determination, an amount equal to
the product of (a) the Required Subordinated Percentage of Class D Notes for such Class A(2003-6) Notes on such date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2003-6) Notes on such date of
determination; provided, however, that for any date of determination, unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on
deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the Required Subordinated Amount of Class D Notes for the Class A(2003-6) Notes will not be less than an amount equal to 1.8462% of the
Initial Dollar Principal Amount of the Class A(2003-6) Notes, provided further, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2003-6) Adverse Event, the Required
Subordinated Amount of Class D Notes for the Class A(2003-6) Notes will be the greatest of (x) the amount determined above for such date of determination, (y) the amount determined above for the date immediately prior to the date on which such Class
A(2003-6) Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding
sub-Account on such date of determination for any Tranche of Card Series Notes, the amount determined pursuant to the preceding proviso. 
  
 “Required Subordinated Percentage of Class B Notes” means, for the Class A(2003-6) Notes, 12.3077%, subject to adjustment in accordance
with Section 2.02. 
  
 “Required Subordinated
Percentage of Class C Notes” means, for the Class A(2003-6) Notes, 8.9231%, subject to adjustment in accordance with Section 2.02. 
  
 “Required Subordinated Percentage of Class D Notes” means, for the Class A(2003-6) Notes, 1.8462%, subject to adjustment in accordance
with Section 2.02. 
  
 “Stated Principal
Amount” means $500,000,000. 
  
 Section 1.02.
Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL 
  

 6 

 OBLIGATION LAW, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  
 Section 1.03. Counterparts. This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same
instrument. 
  
 Section 1.04. Ratification of Indenture, the
Asset Pool 1 Supplement and Indenture Supplement. As supplemented by this Terms Document, each of the Indenture, the Asset Pool 1 Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so
supplemented by the Asset Pool 1 Supplement as so supplemented by the Indenture Supplement as so supplemented and this Terms Document shall be read, taken and construed as one and the same instrument. 
  
 [END OF ARTICLE I] 
  

 7 

 ARTICLE II 
  
 The Class A(2003-6) Notes 
  
 Section 2.01. Creation and Designation. There is hereby created a tranche of Card Series Class A Notes to be issued pursuant to the Indenture, the
Asset Pool 1 Supplement and the Indenture Supplement to be known as the “Card Series Class A(2003-6) Notes.” 
  
 Section 2.02. Adjustments to Required Subordinated Percentages. 
  
 (a) On any date, the Issuer may change the Required Subordinated Percentage of Class B Notes or the Required Subordinated
Percentage of Class C Notes, in each case for the Class A(2003-6) Notes, without the consent of any Noteholders or any Note Rating Agencies, provided that, after giving effect to such change, (x) the sum of the Required Subordination Percentage of
Class B Notes and the Required Subordinated Percentage of Class C Notes, in each case, for the Class A(2003-6) Notes after giving effect to such change is equal to or greater than the sum of the Required Subordination Percentage of Class B Notes and
the Required Subordinated Percentage of Class C Notes, in each case, for the Class A(2003-6) Notes immediately prior to giving effect to such change and (y) the Required Subordinated Amount of Class B Notes for the Class A(2003-6) Notes does not
exceed the Maximum Subordinated Amount of Class B Notes. 
  
 (b)
On any date, the Issuer may change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class A(2003-6) Notes,
such that after giving effect to all changes to such percentages on such date the sum of the Required Subordination Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes and the Required Subordinated Amount of Class D
Notes, in each case, for the Class A(2003-6) Notes after giving effect to such change is less than the sum of the Required Subordination Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes and the Required Subordinated
Amount of Class D Notes, in each case, for the Class A(2003-6) Notes immediately prior to giving effect to such change, without the consent of any Noteholders, provided that the Issuer has (i) received written confirmation from each Note Rating
Agency that has rated any Outstanding Notes of the Card Series that the change in such percentage will not result in a Ratings Effect with respect to any Outstanding Class A(2003-6) Notes and (ii) delivered to the Indenture Trustee and the Note
Rating Agencies a Master Trust Tax Opinion for each Master Trust and an Issuer Tax Opinion. 
  
 Section 2.03. Interest Payment. 
  
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class A(2003-6) Notes shall be an amount equal to one-twelfth of the product of (i) the Note Interest Rate, times (ii) the Outstanding Dollar
Principal Amount of the Class A(2003-6) Notes determined as of the Record Date preceding the related Distribution Date; provided, however, that for the first Interest Payment Date the amount of interest due is $942,361.11. Any interest
on the Class A(2003-6) Notes will be calculated on the basis of a 360-day year and twelve 30-day months. 
  

 8 

 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Distribution Date, the Indenture
Trustee shall deposit into the Class A(2003-6) Interest Funding sub-Account the portion of Card Series Available Finance Charge Amounts allocable to the Class A(2003-6) Notes. 
  
 Section 2.04. [Reserved]. 
  
 Section 2.05. Payments of Interest and Principal. 
  
 (a) Any installment of interest or principal, if any, payable on any Class
A(2003-6) Note which is punctually paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2003-6)
Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not
later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on
such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee.

  
 (b) The right of the Class A(2003-6) Noteholders to receive
payments from the Issuer will terminate on the first Business Day following the Class A(2003-6) Termination Date. 
  
 Section 2.06. Form of Delivery of Class A(2003-6) Notes; Depository; Denominations. 
  
 (a) The Class A(2003-6) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202
and 301(i) of the Indenture, respectively. 
  
 (b) The
Depository for the Class A(2003-6) Notes shall be The Depository Trust Company, and the Class A(2003-6) Notes shall initially be registered in the name of Cede & Co., its nominee. 
  
 (c) The Class A(2003-6) Notes will be issued in minimum denominations of $1,000 and integral multiples of that amount.

  
 Section 2.07. Delivery and Payment for the Class A(2003-6)
Notes. The Issuer shall execute and deliver the Class A(2003-6) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2003-6) Notes when authenticated, each in accordance with Section 303
of the Indenture. 
  
 Section 2.08. Targeted Deposits to the
Accumulation Reserve Account. 
  
 The deposit targeted to be
made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 
  
 Section 2.09. [Reserved]. 
  

 9 

 Section 2.10. Tax Treatment. Notwithstanding any other express or implied agreement to the
contrary, each of the Issuer and the Class A(2003-6) Noteholders are hereby deemed to agree that they and any recipient of the Prospectus Supplement dated October 16, 2003 and the Prospectus dated July 28, 2003, each relating to the Class A(2003-6)
Notes (or their employees, representatives, or other agents), may disclose to any and all persons, without limitation of any kind, the Tax Treatment and Tax Structure of any transaction relating to the Issuer or the Class A(2003-6) Notes and all
materials of any kind (including opinions or other tax analyses) that are provided to any of them relating to such Tax Treatment and Tax Structure. For purposes of this Section 2.10, “Tax Treatment” refers to the purported or
claimed treatment of the Issuer and the Class A(2003-6) Notes under the Internal Revenue Code, and “Tax Structure” refers to any fact that may be relevant to understanding such Tax Treatment. It is hereby confirmed that each of the
foregoing have been deemed to so agree since the commencement of discussions regarding the Class A(2003-6) Notes. 
  
 [END OF ARTICLE II] 
  

 10 

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

	 CAPITAL ONE MULTI-ASSET EXECUTION
TRUST, by DEUTSCHE BANK TRUST
COMPANY DELAWARE, not in its individual
capacity,
but solely as Owner Trustee on behalf of
the Trust
  
  

	 By:
	  	 /s/    Michele Voon

	 	  	Name: Michele Voon
	 	  	Title: Attorney-in-Fact
	  
  
 THE BANK OF NEW YORK, as Indenture Trustee and not in its individual capacity
  
  

	 By:
	  	 /s/    Allison R. Clan

	 	  	Name: Allison R. Clan
	 	  	Title: Assistant Treasurer

  
  
 [Signature Page to the Class A(2003-6) Terms Document]

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