Document:

Class A(2006-11) Terms Document, dated as of September 26, 2006

 Exhibit 4.1 
 EXECUTION COPY 
  

 BA CREDIT CARD TRUST 
 as Issuer 
 CLASS A(2006-11) TERMS DOCUMENT 
 dated as of September 26, 2006 
 to 
 AMENDED AND RESTATED BASERIES INDENTURE
SUPPLEMENT 
 dated as of June 10, 2006 
 to 
 AMENDED AND RESTATED INDENTURE 
 dated as of June 10, 2006 
 THE BANK OF NEW YORK 
 as Indenture Trustee 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE I	  	
		
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  	
			
	Section 1.01.	  	Definitions	  	1
			
	Section 1.02.	  	Governing Law; Submission to Jurisdiction; Agent for Service of Process	  	5
			
	Section 1.03.	  	Counterparts	  	5
			
	Section 1.04.	  	Ratification of Indenture and Indenture Supplement	  	5
		
	ARTICLE II	  	
		
	THE CLASS A(2006-11) NOTES	  	
			
	Section 2.01.	  	Creation and Designation	  	7
			
	Section 2.02.	  	Specification of Required Subordinated Amount and other Terms	  	7
			
	Section 2.03.	  	Interest Payment	  	7
			
	Section 2.04.	  	Calculation Agent; Determination of LIBOR	  	8
			
	Section 2.05.	  	Payments of Interest and Principal	  	9
			
	Section 2.06.	  	Form of Delivery of Class A(2006-11) Notes; Depository; Denominations	  	9
			
	Section 2.07.	  	Delivery and Payment for the Class A(2006-11) Notes	  	9
			
	Section 2.08.	  	Targeted Deposits to the Accumulation Reserve Account	  	9
		
	ARTICLE III	  	
		
	REPRESENTATIONS AND WARRANTIES	  	
			
	Section 3.01.	  	Issuer’s Representations and Warranties.	  	10

  

 -i- 

 THIS CLASS A(2006-11) TERMS DOCUMENT (this “Terms Document”), by and between BA CREDIT
CARD TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, and THE BANK OF NEW YORK, a New
York banking corporation ( the “Indenture Trustee”), is made and entered into as of September 26, 2006. 
 Pursuant to
this Terms Document, the Issuer and the Indenture Trustee shall create a new tranche of Class A Notes and shall specify the principal terms thereof. 
 ARTICLE I 
 Definitions and Other Provisions of General Application 
 Section 1.01. Definitions. For all purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise
requires: 
 (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 Amended and Restated BAseries Indenture
Supplement, dated as of June 10, 2006 (the “Indenture Supplement”), or the Amended and Restated Indenture, dated as of June 10, 2006 (the “Indenture”), each between the Issuer (formerly known as MBNA
Credit Card Master Note Trust) and the Indenture Trustee, 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 as originally executed; 
 (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 or the Indenture, the terms and provisions of this Terms Document shall be controlling; 
 (7)
each capitalized term defined herein shall relate only to the Class A(2006-11) Notes and no other tranche of Notes issued by the Issuer; and 

 (8) “including” and words of similar import will be deemed to be followed by
“without limitation.” 
 “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period
Length is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar
months prior to the first Transfer Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class A(2006-11) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the
Monthly Period following the first Transfer Date following and including the October 2011 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be
required to commence earlier than 24 months prior to the Expected Principal Payment Date, (iii) the Monthly Period following the first Transfer Date following and including the April 2012 Transfer Date for which the Quarterly Excess Available
Funds Percentage is less than 3%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 18 months prior to the Expected Principal Payment Date, and (iv) the Monthly Period following the first
Transfer Date following and including the June 2012 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 16
months prior to the Expected Principal Payment Date and (y) ending on the close of business on the last day of the Monthly Period preceding the earlier to occur of (i) the Expected Principal Payment Date for the Class A(2006-11) Notes and
(ii) the date on which the Class A(2006-11) Notes are paid in full. 
 “Base Rate” means, with respect to any Monthly
Period, the sum of (i) the Weighted Average Interest Rates for the Outstanding BAseries Notes, (ii) the Net Servicing Fee Rate (as such term is defined in the Series 2001-D Supplement) and (iii) so long as FIA or The Bank of New York
is the Servicer, the Servicer Interchange Rate, in each case, for such Monthly Period. 
 “BAseries Servicer Interchange”
means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicer Interchange (as such term is defined in the Series 2001-D Supplement) with respect to such Monthly Period and (b) a fraction the numerator of
which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period and the denominator of which is the Weighted Average Available Funds Allocation Amount for all series of Notes for such Monthly Period.

 “Calculation Agent” is defined in Section 2.04(a). 
 “Class A(2006-11) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement,
designated therein as a Class A(2006-11) Note and duly executed and authenticated in accordance with the Indenture. 
 “Class
A(2006-11) Noteholder” means a Person in whose name a Class A(2006-11) Note is registered in the Note Register. 
 “Class
A(2006-11) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2006-11) 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. 
  

 2 

 “Class A Required Subordinated Amount of Class B Notes” is defined in
Section 2.02(a). 
 “Class A Required Subordinated Amount of Class C Notes” is defined in
Section 2.02(b). 
 “Controlled Accumulation Amount” means $43,333,333.34; provided, however, if
the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount shall be the amount specified in the definition of
“Controlled Accumulation Amount” in the Indenture Supplement. 
 “Excess Available Funds Percentage” means, with
respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
 “Expected Principal Payment Date” means November 15, 2013. 
 “Initial Dollar
Principal Amount” means $520,000,000. 
 “Interest Payment Date” means the fifteenth day of each month, or if such
fifteenth day is not a Business Day, the next succeeding Business Day, commencing November 15, 2006. 
 “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 September 26, 2006. 
 “Legal Maturity Date” means April 15, 2016. 
 “LIBOR” means, for any Interest Period, the London interbank offered rate for one-month United States dollar deposits determined by the Calculation Agent on the LIBOR Determination Date for each
Interest Period in accordance with the provisions of Section 2.04. 
 “LIBOR Determination Date” means
September 22, 2006 for the period from and including the Issuance Date to but excluding November 15, 2006 and, for each Interest Period thereafter, the second London Business Day prior to the Interest Payment Date on which such Interest
Period commences. 
 “London Business Day” means any Business Day on which dealings in deposits in United States Dollars are
transacted in the London interbank market. 
  

 3 

 “Note Interest Rate” means a per annum rate equal to 0.03% in excess of LIBOR as
determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
 “Paying
Agent” means The Bank of New York. 
 “Portfolio Yield” means, with respect to any Monthly Period, the annualized
percentage equivalent of a fraction, the numerator of which is (a) the amount of Available Funds allocated to the BAseries pursuant to Section 501 of the Indenture, plus (b) any Interest Funding sub-Account Earnings on
the related Transfer Date, plus (c) any amounts to be treated as BAseries Available Funds pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement, plus (d) the BAseries Servicer Interchange for such
Monthly Period, minus (e) the excess, if any, of the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over the sum of the aggregate amount to be treated as BAseries Available Funds for such
Monthly Period pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of BAseries
Notes for such Monthly Period, minus (f) the BAseries Investor Default Amount for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period.

 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the
same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 306 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed
to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 
 “Quarterly Excess Available Funds Percentage”
means, with respect to the October 2011 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding
three Monthly Periods and the denominator of which is three. 
 “Record Date” means, for any Transfer Date, the last
Business Day of the preceding Monthly Period. 
 “Reference Banks” means four major banks in the London interbank market
selected by the Beneficiary. 
 “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(2006-11) 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. 
 “Servicer Interchange Rate” means, for any Monthly Period, the percentage equivalent of a fraction, the numerator
of which is the BAseries Servicer Interchange for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period. 
  

 4 

 “Stated Principal Amount” means $520,000,000. 
 “Telerate Page 3750” means the display page currently so designated on the Moneyline Telerate Service (or such other page as may replace
that page on that service for the purpose of displaying comparable rates or prices). 
 “Weighted Average Interest Rates”
means, with respect to any Outstanding Notes of a class or tranche of the BAseries, or of all of the Outstanding Notes of the BAseries, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes
on such date) of the following rates of interest: 
 (a) in the case of a tranche of Dollar Interest-bearing Notes with no Derivative
Agreement for interest, the rate of interest applicable to that tranche on that date; 
 (b) in the case of a tranche of Discount Notes, the
rate of accretion (converted to an accrual rate) of that tranche on that date; 
 (c) in the case of a tranche of Notes with a payment due
under a Performing Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue on that date (prior to the netting of such payments, if applicable); and 
 (d) in the case of a tranche of Notes with a non-Performing Derivative Agreement for interest, the rate specified for that date in the related terms
document. 
 Section 1.02. Governing Law; Submission to Jurisdiction; Agent for Service of Process. This Terms Document shall be
governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflict of laws. The parties hereto declare that it is their intention that this Terms Document shall be regarded as made under the laws
of the State of Delaware and that the laws of said State shall be applied in interpreting its provisions in all cases where legal interpretation shall be required. Each of the parties hereto agrees (a) that this Terms Document involves at least
$100,000.00, and (b) that this Terms Document has been entered into by the parties hereto in express reliance upon 6 DEL. C. § 2708. Each of the parties hereto hereby irrevocably and unconditionally agrees (a) to be subject to
the jurisdiction of the courts of the State of Delaware and of the federal courts sitting in the State of Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain
an agent in the State of Delaware as such party’s agent for acceptance of legal process, and (2) that, to the fullest extent permitted by applicable law, service of process may also be made on such party by prepaid certified mail with a
proof of mailing receipt validated by the United States Postal Service constituting evidence of valid service, and that service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the same legal
force and effect as if served upon such party personally within the State of Delaware. 
  

 5 

 Section 1.03. Counterparts. This Terms Document may be executed in any number of
counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04. Ratification of Indenture and Indenture Supplement. As supplemented by this Terms Document, each of the Indenture and the Indenture Supplement is in all respects ratified and confirmed and
the Indenture as so supplemented by the Indenture Supplement as so supplemented and this Terms Document shall be read, taken and construed as one and the same instrument. 
 [END OF ARTICLE I] 
  

 6 

 ARTICLE II 
 The Class A(2006-11) Notes 
 Section 2.01. Creation and Designation. There is hereby
created a tranche of BAseries Class A Notes to be issued pursuant to the Indenture and the BAseries Indenture Supplement to be known as the “BAseries Class A(2006-11) Notes.” 
 Section 2.02. Specification of Required Subordinated Amount and other Terms. 
 (a) For the Class A(2006-11) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes will be an amount equal
to 8.82353% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2006-11) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2006-11) Notes shall have occurred, if an Event of Default and
acceleration of the Class A(2006-11) Notes shall have occurred or if the Class A Usage of the Class B Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of
the Class A(2006-11) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on which the Class A Usage of Class B Required Subordinated
Amount exceeded zero. 
 (b) For the Class A(2006-11) Notes for any date of determination, the Class A Required Subordinated Amount of
Class C Notes will be an amount equal to 8.82353% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2006-11) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2006-11) Notes shall have
occurred, if an Event of Default and acceleration of the Class A(2006-11) Notes shall have occurred or if the Class A Usage of the Class C Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted
Outstanding Dollar Principal Amount of the Class A(2006-11) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on which the Class A
Usage of Class C Required Subordinated Amount exceeded zero. 
 (c) The Issuer may change the percentages set forth in clause (a) or
(b) above without the consent of any Noteholder so long as the Issuer has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes of the BAseries that the change in either of such percentages
will not result in a Ratings Effect with respect to any Outstanding Class A(2006-11) Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion. 
 Section 2.03. Interest Payment. 
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class A(2006-11) Notes shall be an amount equal to the product of (i)(A) a fraction, the numerator of which is the actual number of days in the related
Interest Period and the denominator of which is 360, times (B) the Note Interest Rate in effect with respect to the related Interest Period, times (ii) the Outstanding Dollar Principal Amount of the Class A(2006-11) Notes
determined as of the Record Date preceding the related Transfer Date. Interest on the Class A(2006-11) Notes will be calculated on the basis of the actual number of days in the related Interest Period and a 360-day year. 
  

 7 

 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Transfer Date, the
Indenture Trustee shall deposit into the Class A(2006-11) Interest Funding sub-Account the portion of BAseries Available Funds allocable to the Class A(2006-11) Notes. 
 Section 2.04. Calculation Agent; Determination of LIBOR. 
 (a) The Issuer hereby agrees that for
so long as any Class A(2006-11) Notes are Outstanding, there shall at all times be an agent appointed to calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuer hereby initially appoints the Indenture Trustee
as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The Calculation Agent may be removed by the Issuer at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if
the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuer shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuer or its Affiliates. The
Calculation Agent may not resign its duties, and the Issuer may not remove the Calculation Agent, without a successor having been duly appointed. 
 (b) On each LIBOR Determination Date, the Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a one-month period which appears on Telerate Page 3750 as of 11:00 a.m., London time, on
such date (or, for the first Interest Period, the rate that corresponds to the actual number of days in the first Interest Period). If such rate does not appear on Telerate Page 3750, the rate for that LIBOR Determination Date shall be determined on
the basis of the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a one-month period. The Calculation Agent
shall request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that LIBOR Determination Date shall be the arithmetic mean of the quotations. If
fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by four major banks in New York City, selected by the Beneficiary, at approximately 11:00 a.m., New York
City time, on that day for loans in United States dollars to leading European banks for a one-month period. 
 (c) The Note Interest Rate
applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning the Indenture Trustee at its corporate trust office at (212) 815-3247 or such other telephone number as shall be designated by the
Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time to time. 
 (d) On each
LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee and the Beneficiary, by facsimile transmission, notification of LIBOR for the following Interest Period. 
  

 8 

 Section 2.05. Payments of Interest and Principal. 
 (a) Any installment of interest or principal, if any, payable on any Class A(2006-11) 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(2006-11) 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(2006-11) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class A(2006-11) Termination Date. 
 Section 2.06. Form of Delivery of Class A(2006-11) Notes; Depository; Denominations. 
 (a) The Class A(2006-11) 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(2006-11) Notes shall be The Depository Trust Company, and the Class A(2006-11)
Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class A(2006-11) Notes will be issued in
minimum denominations of $5,000 and multiples of $1,000 in excess of that amount. 
 Section 2.07. Delivery and Payment for the Class
A(2006-11) Notes. The Issuer shall execute and deliver the Class A(2006-11) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2006-11) Notes when authenticated, each in accordance with
Section 303 of the Indenture. 
 Section 2.08. Targeted Deposits to the Accumulation Reserve Account. The deposit
targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 
 [END OF ARTICLE II] 
  

 9 

 ARTICLE III 
 Representations and Warranties 
 Section 3.01. Issuer’s Representations and
Warranties. The Issuer makes the following representations and warranties as to the Collateral Certificate on which the Indenture Trustee is deemed to have relied in acquiring the Collateral Certificate. Such representations and warranties speak
as of the execution and delivery of this Terms Document, but shall survive until the termination of this Terms Document. Such representations and warranties shall not be waived by any of the parties to this Terms Document unless the Issuer has
obtained written confirmation from each Note Rating Agency that there will be no Ratings Effect with respect to such waiver. 
 (a) The
Indenture creates a valid and continuing security interest (as defined in the Delaware UCC) in the Collateral Certificate in favor of the Indenture Trustee, which security interest is prior to all other liens, and is enforceable as such as against
creditors of and purchasers from the Issuer. 
 (b) The Collateral Certificate constitutes either an “account,” a “general
intangible,” an “instrument,” or a “certificated security,” each within the meaning of the Delaware UCC. 
 (c) At
the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the Issuer owned and had good and marketable title to the Collateral Certificate free and clear of any lien, claim or
encumbrance of any Person. 
 (d) The Issuer has caused, within ten days of the execution of the Indenture, the filing of all appropriate
financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Collateral Certificate granted to the Indenture Trustee pursuant to the Indenture. 
 (e) Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged, assigned, sold, granted a
security interest in, or otherwise conveyed the Collateral Certificate. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral covering the Collateral
Certificate other than any financing statement relating to the security interest granted to the Indenture Trustee pursuant to the Indenture or any financing statement that has been terminated. The Issuer is not aware of any judgment or tax lien
filings against the Issuer. 
 (f) All original executed copies of the Collateral Certificate have been delivered to the Indenture Trustee.

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

 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. 
  

			
	BA CREDIT CARD TRUST,
	by FIA CARD SERVICES,
	 NATIONAL ASSOCIATION,
 as Beneficiary and not
in its individual capacity

		
	By:	 	 /s/ Scott W. McCarthy

		 	Scott W. McCarthy
		 	Senior Vice President
	
	THE BANK OF NEW YORK, as Indenture Trustee and not in its individual capacity
		
	By:	 	 /s/ Catherine L. Cerilles

	Name:	 	Catherine L. Cerilles
	Title:	 	Assistant Vice President

 [Signature Page to the Class A(2006-11) Terms Document]Certificate of Designations of Series J Convertible Preferred Stock

 Exhibit 4.2 
 CERTIFICATE OF DESIGNATIONS OF 
 SERIES J CONVERTIBLE PREFERRED STOCK 
 OF 
 DIAMETRICS MEDICAL, INC.

 a Minnesota corporation 
 The undersigned, being the duly elected and acting Chief Executive Officer of Diametrics Medical, Inc., a Minnesota corporation (the “Corporation”), hereby certifies that pursuant to the authority contained in
Article 3 of the Corporation’s Amended and Restated Articles of Incorporation, as amended, and in accordance with the provisions of Minnesota Statutes, Section 302A.401, Subd. 3(b), the Corporation’s Board of Directors has
adopted the following resolutions creating a series of its Preferred Stock designated as Series J Convertible Preferred Stock: 
 WHEREAS, the
Corporation’s Amended and Restated Articles of Incorporation provides for a class of shares known as Preferred Stock, issuable from time to time in one or more series; and 
 WHEREAS, the Board of Directors of the Corporation is authorized to determine or alter the rights, preferences, privileges and restrictions granted to or
imposed upon any wholly unissued shares of Preferred Stock, to fix the number of shares constituting any such series, and to determine the designation thereof, or any of any of them. 
 NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors hereby fixes and determines the designations of, the number of shares constituting, and the
rights, preferences, privileges and restrictions relating to, a new series of Preferred Stock as follows: 
 (a) Designation. The
series of Preferred Stock is hereby designated Series J Convertible Preferred Stock (the “Series J Preferred Stock”). 
 (b) Authorized Shares. The number of authorized shares constituting the Series J Preferred Stock shall be 2,850 shares of such series. 
 (c) Dividends. The Corporation shall pay on each outstanding share of Series J Preferred Stock (as adjusted for stock splits, combinations, reorganizations and the like) out of funds legally available therefor
a cumulative dividend (the “Dividend”), at an annual rate equal to the product of (i) $10,000.00 per share (the “Series J Purchase Price”), by (ii) eight percent (8%). The Corporation shall
pay the Dividend in cash or in additional shares of Series J Preferred Stock at the option of the Corporation. If the Corporation elects to pay such dividend in additional shares of Series J Preferred Stock, the value of each such share paid as a
dividend shall be deemed to be the Conversion Price then in effect. Such Dividends shall commence to accrue on the shares of Series J Preferred Stock and be cumulative from and after the original date of issuance of the Series J Preferred Stock (the
“Original Issuance Date”), and will accrue until paid whether or not the Board of Directors declares dividends. Such Dividends shall be paid pro rata among the holders of the Series J Preferred Stock. The Dividend shall be
payable quarterly in arrears on the last day of each quarter to the holders of record as of the first (1st) day
of such quarter based upon the number of days during such quarter that the Series J Preferred 

 Stock remained outstanding. The Dividend shall be calculated on the basis of a 360-day year. No dividends other than
those payable solely in Common Stock shall be paid on any Common Stock unless and until (i) the aforementioned dividend is paid on each outstanding share of Series J Preferred Stock, and (ii) a dividend is paid with respect to all
outstanding shares of Series J Preferred Stock in an amount equal to or greater that the aggregate amount of dividends which would be payable on each share of Series J Preferred Stock if, immediately prior to such dividend payment on Common Stock,
it had been converted into Common Stock. The Corporation shall make no Distribution (as defined below) to the holders of shares of Common Stock except in accordance with this Section (c). “Distribution” means the transfer of cash or
property without consideration, whether by way of dividend or otherwise, or the purchase of shares of the Corporation (other than in connection with the repurchase of shares of Common Stock issued to or held by employees, consultants, officers and
directors at a price not greater than the amount paid by such persons for such shares upon termination of their employment or services pursuant to agreements providing for the right of said repurchase) for cash or property. 
 (d) Liquidation Preference. 
 (i)
Preference upon Liquidation, Dissolution or Winding Up. In the event of any dissolution or winding up of the Corporation, whether voluntary or involuntary, holders of each outstanding share of Series J Preferred Stock shall be entitled to be
paid, on a pro rata basis, first out of the assets of the Corporation available for distribution to shareholders, whether such assets are capital, surplus or earnings, an amount equal to the greater of (A) an amount equal to $10,000 (the
“Series J Purchase Price”) per share of Series J Preferred Stock held (as adjusted for any stock splits, stock dividends or recapitalizations of the Series J Preferred Stock) and any declared but unpaid dividends on such
share, and (B) the amount such holders would be entitled to receive had such holders converted such shares of Series J Preferred Stock into shares of Common Stock in accordance with paragraph (f) hereof immediately prior to such
distribution (but disregarding for the purposes of the calculation of the number of shares of Common Stock into which such Series J Preferred Stock would be convertible the limitation set forth in paragraph (f)(i) hereof or any other limitation upon
the number of shares of Common Stock which provides that a holder thereof may not beneficially own more than 9.99% of the Corporation’s then outstanding Common Stock), before any payment shall be made to the holders of the Common Stock, or any
other series of Preferred Stock of the Corporation (other than the Series H Convertible Preferred Stock of the Company), whether issued prior to or subsequent to the Original Issuance Date, with regard to any distribution of assets upon liquidation,
dissolution or winding up of the Corporation. If, upon any liquidation, dissolution or winding up of the Corporation, the assets to be distributed to the holders of the Series J Preferred Stock shall be insufficient to permit payment to such
shareholders of the full preferential amounts aforesaid, then all of the assets of the Corporation available for distribution to shareholders shall be distributed to the holders of Series J Preferred Stock, on a pro rata basis. Each holder of the
Series J Preferred Stock shall be entitled to receive that portion of the assets available for distribution as the number of outstanding shares of Series J Preferred Stock held by such holder bears to the total number of shares of Series J Preferred
Stock then outstanding. Such payment shall constitute payment in full to the holders of the Series J Preferred Stock upon the liquidation, dissolution or winding up of the Corporation. After such payment shall have been made in full, or funds
necessary for such payment shall have been set aside by the Corporation in trust for the account of the holders of Series J Preferred Stock, so as to be available for such payment, such holders of Series J Preferred Stock shall be entitled to no
further participation in the distribution of the assets of the Corporation. 
  

 2 

 (ii) Consolidation, Merger and Other Corporate Events. A (x) consolidation or merger of the
Corporation (except into or with a subsidiary corporation or effected exclusively for the purpose of changing the domicile of the Corporation) or any reclassification of the stock of the Corporation (other than a change in par value or from no par
to par, or from par to no par or as the result of an event described in subsections (iv) through (vii) of paragraph (f)), unless the Corporation’s stockholders of record as constituted immediately prior to such transaction will,
immediately after such transaction (by virtue of securities issued as consideration in respect of such transaction or otherwise), hold a majority of the voting power of the surviving or acquiring entity, or (y) a sale, lease, mortgage, pledge,
exchange, transfer or other disposition of all or substantially all of the assets of the Corporation, shall be regarded as a liquidation, dissolution or winding up of the affairs of the Corporation within the meaning of this paragraph (d) (a
“Liquidation Event”). The treatment of any particular transaction or series of related transactions as a Liquidation Event may be waived by the vote or written consent of the holders of a majority of the then outstanding
shares of Series J Preferred Stock). In no event shall the issuance in and of itself of any new classes of stock, whether senior, junior or on a parity with the Series J Preferred Stock, be deemed a “reclassification” under the terms
hereof. 
 (iii) Distribution of Cash and Other Assets. In the event of a liquidation, dissolution or winding up of the Corporation
resulting in the availability of assets other than cash for distribution to the holders of the Series J Preferred Stock, the holders of the Series J Preferred Stock shall be entitled to a distribution of cash and/or assets equal to the value of the
liquidation preference stated in subsection (i) of this paragraph (d), which valuation shall be made solely by the Board of Directors, and provided that such Board of Directors was acting in good faith, shall be conclusive. 
 (iv) Distribution to Junior Security Holders. After the payment or distribution to the holders of the Series J Preferred Stock of the full
preferential amounts aforesaid, the holders of the Common Stock then outstanding, or any other stock of the Corporation ranking as to assets upon liquidation, dissolution or winding up of the Corporation junior to the Series J Preferred Stock, shall
be entitled to receive ratably all of the remaining assets of the Corporation. 
 (v) Preference; Priority. References to a stock that
is “senior” to, on a “parity” with or “junior” to other stock as to liquidation shall refer, respectively, to rights of priority of one series or class of stock over another in
the distribution of assets on any liquidation, dissolution or winding up of the Corporation. The Series J Preferred Stock shall be senior to the Common Stock of the Corporation, all other series of Preferred Stock of the Corporation and any other
capital stock of the Corporation now or hereafter authorized, except the Series H Convertible Preferred Stock of the Corporation or as may be otherwise agreed in writing by holders of a majority of the then outstanding shares of Series J Preferred
Stock. 
 (e) Voting Rights. (i) Except as otherwise expressly provided herein or by law, the holder of each share of Series J
Preferred Stock shall have the right to one vote for each share of Common Stock into which such Series J Preferred Stock could then be converted (assuming, for such purposes, receipt of the Shareholder Approval (as defined below)), and with respect
to such 
  

 3 

 vote, such holder shall have full voting rights and powers equal to the voting rights and powers of the holders of Common
Stock, and shall be entitled, notwithstanding any provision hereof, to notice of any shareholders’ meeting in accordance with the Bylaws of the Corporation, and shall be entitled to vote, together with holders of Common Stock, with respect to
any question upon which holders of Common Stock have the right to vote. Fractional votes shall not, however, be permitted and any fractional voting rights available on an as-converted basis (after aggregating all shares into which shares of Series J
Preferred Stock held by each holder could be converted) shall be rounded to the nearest whole number (with one-half being rounded upward). 
 (ii) The Corporation shall not, without first obtaining the approval of the holders of a majority of the then outstanding shares of Series J Preferred Stock: 
 (A) alter or change the rights, preferences or privileges of the shares of Series J Preferred Stock; 
 (b) issue any additional shares of the Series H Preferred Stock of the Company; 
 (B) issue any additional shares of the Series J Preferred Stock(other than in accordance with this Certificate of Designation) to any
Person other than the purchasers on the Original Issuance Date; 
 (C) authorize, create or sell any equity securities of the
Corporation or securities convertible into equity of the Corporation which are senior to or on parity with the Series J Preferred Stock as to voting, dividend, liquidation or redemption rights; or 
 (D) take or permit any action to be taken which allows any subsidiary of the Corporation to take any of the actions enumerated in this
Section (e)(ii). 
 (iii) So long as the holders of the Series J Preferred Stock continue to hold at least fifteen (15) percent shares
of the Common Stock on an as converted, fully diluted basis (appropriately adjusted for stock splits, stock dividends, stock combinations, and similar events occurring after the date hereof), the holders of the Series J Preferred Stock, voting
separately as a single class, shall be entitled to elect one (1) director to the Board of Directors of the Corporation and to fill any vacancy on the Board of Directors created by the absence of such director. 
 (f) Conversion Rights. The holders of Series J Preferred Stock will have the following conversion rights: 
 (i) Right to Convert. Subject to and in compliance with the provisions of this paragraph (f), any issued and outstanding shares of Series J
Preferred Stock may, at the option of the holder, be converted at any time or from time to time into fully paid and nonassessable shares of Common Stock at the conversion rate in effect at the time of conversion, determined as provided herein;
provided, however, that a requisite increase in the number of authorized shares of Common Stock shall have been duly and validly approved by the shareholders of the Corporation as contemplated by that certain Subscription Agreement, dated
September 15, 2006 (the “Series J Preferred Stock Subscription Agreement”), by and between the Corporation and 
  

 4 

 the purchasers named therein (such approval being referred to herein as the “Shareholder
Approval”); provided, further, that the right to convert of any holder of Series J Preferred Stock who so elects in writing to the Corporation shall be limited such that such holder of Series J Preferred Stock may at any given
time convert only up to that number of shares of Series J Preferred Stock so that, upon conversion, the aggregate beneficial ownership of the Corporation’s Common Stock (calculated pursuant to Rule 13d-3 of the Securities Exchange Act of 1934,
as amended) of such holder and all persons affiliated with such holder is not more than 9.99% of the Corporation’s Common Stock then outstanding. 
 (ii) Mandatory Conversion. Provided that (a) there is an effective Registration Statement on Form SB-2 or S-3 (the “Registration Statement”) on file with the Securities and Exchange
Commission (the “SEC”) registering the maximum number of shares of Common Stock to be issued upon conversion of the Series J Preferred Stock and (b) the closing price of the Common Stock for the twenty
(20) preceding trading days is equal to or greater than two times the Conversion Price, then the Corporation, at its option, may require any holder of Series J Preferred Stock to convert all, or a portion, of the then outstanding Series J
Preferred Stock by delivery of written notice. The conversion shall be made within five (5) trading days after receipt of the notice. Notwithstanding the foregoing, any conversion by a holder of Series J Preferred Stock into Common Stock shall
be limited, for each and any holder who so elects in writing to the Corporation, such that the beneficial ownership of such holder and its affiliates of Common Stock acquired from the Corporation (excluding shares of Common Stock issuable upon the
conversion of the Series J Preferred Stock and the exercise of warrants which have not yet been converted or exercised) shall in the aggregate not exceed 9.99% of the total Common Stock then outstanding. In the event that the Corporation provides
notice of the mandatory conversion of the then outstanding Series J Preferred Stock which is limited by the immediately preceding sentence, the provisions of Section (c) hereof with respect to dividends, Section (d) hereof with respect to
liquidation preference of the Series J Preferred Stock, Section (e)(ii) hereof with respect to voting rights, Sections (f)(ix) and (f)(x) hereof with respect to adjustments to the Conversion Price and Section (h) hereof with respect to Events
of Default, shall each expire as of the effectiveness of such mandatory conversion. 
 (iii) Mechanics of Conversion. Before any
holder of Series J Preferred Stock shall be entitled to convert the same into shares of Common Stock, he shall surrender the certificate or certificates therefor, duly endorsed, at the office of the Corporation or of any transfer agent for the
Common Stock, and shall give written notice to the Corporation at such office that he elects to convert the same and shall state therein the number of shares of Series J Preferred Stock being converted. Thereupon, the Corporation shall promptly
issue and deliver at such office to such holder of Series J Preferred Stock a certificate or certificates for the number of shares of Common Stock to which he shall be entitled, which such certificate or certificates shall bear such legends as are
usual and customary to indicate any restrictions on transfer thereof, if applicable. Such conversion shall be deemed to have been made immediately prior to the close of business on the date of such surrender of the shares of Series J Preferred Stock
to be converted, and the person or persons entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder or holders of such shares of Common Stock on such date. 
  

 5 

 (iv) Conversion Price. The number of shares into which one share of Series J Preferred Stock shall
be convertible shall be determined by dividing the Series J Purchase Price by the then existing Conversion Price (as set forth below), which shall be subject to adjustment from time to time in certain instances, as provided below in this paragraph
(f). The “Conversion Price” per share for the Series J Preferred Stock shall be equal to $0.758754 per share. If an Event of Default (as defined in Section (h) hereof) occurs, the Conversion Price shall be reduced
as set forth in Section (h) hereof. 
 (v) Adjustment for Stock Splits and Combinations. If at any time, or from time to time
after the Original Issuance Date, the outstanding shares of Common Stock shall be subdivided (by stock split, stock dividend or otherwise), into a greater number of shares of Common Stock, the Conversion Price in effect immediately prior to such
subdivision shall, concurrently with the effectiveness of such subdivision, be proportionately decreased. If at any time, or from time to time after the Original Issuance Date, the outstanding shares of Common Stock shall be combined (by
reclassification or otherwise) into a lesser number of shares of Common Stock, the Conversion Price in effect immediately prior to such combination shall, concurrently with the effectiveness of such combination, be proportionately increased.

 (vi) Adjustment for Certain Dividends and Distributions. In the event the Corporation at any time, or from time to time after the
Original Issuance Date, shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in additional shares of Common Stock, then and in each such event the
Conversion Price for the Series J Preferred Stock then in effect shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the
Conversion Price for such Series J Preferred Stock then in effect by a fraction: 
 (A) the numerator of which shall be the
total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and 
 (B) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of
such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; 
 provided, however, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Conversion Price for the Series J Preferred Stock shall
be recomputed accordingly as of the close of business on such record date and thereafter, the Conversion Price for the Series J Preferred Stock shall be adjusted pursuant to this paragraph (f)(v) as of the time of actual payment of such dividends or
distributions. 
 (vii) Adjustments for Other Dividends and Distributions. In the event the Corporation at any time or from time to
time after the Original Issuance Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of the Corporation other than shares of

  

 6 

 Common Stock, then and in each such event provision shall be made so that the holders of such Series J Preferred Stock
shall receive upon conversion thereof in addition to the number of shares of Common Stock receivable thereupon, the amount of securities of the Corporation that they would have received had their Series J Preferred Stock been converted into Common
Stock on the date of such event and had thereafter, during the period from the date of such event to and including the conversion date, retained such securities receivable by them as aforesaid during such period giving application to all adjustments
called for during such period under this paragraph (f) with respect to the rights of the holders of the Series J Preferred Stock. 
 (viii) Adjustment for Reclassification Exchange or Substitution. If the Common Stock issuable upon the conversion of the Series J Preferred Stock shall be changed into the same or a different number of shares of any class or classes
of stock, whether by capital reorganization, reclassification or otherwise (other than a subdivision or combination of shares or stock dividend provided for above, or a reorganization, merger, consolidation or sale of assets provided for elsewhere
in this paragraph (f)), then and in each such event the Holder of each share of Series J Preferred Stock shall have the right thereafter to convert such share into the kind and amount of shares of stock and other securities and property receivable
upon such reorganization, reclassification or other change, by holders of the number of shares of Common Stock into which such shares of Series J Preferred Stock might have been converted immediately prior to such reorganization, reclassification,
or change, all subject to further adjustment as provided herein. 
 (ix) Adjustment for Issuances of Additional Stock. In the event
the Corporation at any time, or from time to time after the Original Issuance Date, shall issue or sell any shares of Common Stock (including shares of Common Stock deemed to have been issued pursuant to Section (f)(x) below) after the Original
Issuance Date (the “Additional Stock”), then and in each such event the Conversion Price for the Series J Preferred Stock then in effect shall be decreased as of the time of such issuance by multiplying the Conversion Price
for such Series J Preferred Stock then in effect by a fraction: 
 (A) the numerator of which shall be the sum of
(i) the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance plus (ii) all shares of Common Stock issuable upon conversion of the Preferred Stock outstanding immediately prior to the
issuance of such Additional Stock, without giving effect to any adjustments to the conversion price of any such series of Preferred Stock as a result of the issuance of such Additional Stock (including shares of Common Stock deemed issued pursuant
to Section (f)(x) below) (the sum of the amounts in clauses (i) and (ii) of this paragraph being the “Outstanding Common”) plus (iii) the number of shares of Common Stock given by the quotient of (x) the
aggregate consideration received by the Corporation for such Additional Stock divided by (y) the Conversion Price in effect immediately prior to the adjustment contemplated hereby, and 
 (B) the denominator of which shall be the total number of shares of Outstanding Common plus the number of shares of such Additional
Stock; 
 No adjustment to the Conversion Price shall be made pursuant to this Section (f)(ix) on account of any issuance of Additional Stock unless the
consideration per share of Additional Stock issued by the Corporation is less than the Conversion Price in effect on the date of, and immediately prior to such issue. 
  

 7 

 The term “Additional Stock” shall not include the following issuances of shares of Common Stock (including
shares of Common Stock deemed to have been issued pursuant to Section (f)(x) below): 
  

	 	i.	to employees, directors, consultants and other service providers for the purpose of soliciting or retaining their services pursuant to plans or agreements approved by the Board of
Directors and, where required the shareholders of the Corporation, including, without limitation, the Corporation’s 2006 Incentive Compensation Plan, provided that the total number of such shares so issuable does not exceed 6,592,755;

  

	 	ii.	issuable upon conversion of the Series K Convertible Preferred Stock; 

  

	 	iii.	issuable upon the conversion or exercise of convertible or exercisable securities outstanding on the date this Certificate of Designation is filed with the Secretary of State of the
State of Minnesota; 

  

	 	iv.	issuable upon exercise of the warrant to be issued to M.A.G. Capital, LLC (“MAG”) in consideration for the assignment by MAG to the Corporation of certain acquisition
rights, as contemplated by that certain Assignment Agreement, dated September 15, 2006; 

  

	 	v.	issuable upon exercise of the options granted pursuant to the 2006 Incentive Compensation Plan on or prior to the Original Issuance Date; 

  

	 	vi.	issued upon conversion of the warrants granted to Ocean Park Advisors, LLC on or prior to the date hereof; 

  

	 	vii.	issuable pursuant to any equipment leasing arrangement or debt financing from a bank or similar institution approved by the Board of Directors; provided such financing is for
non-equity financing purposes and does not exceed five percent (5%) of the then Outstanding Common; and 

  

	 	viii.	issued or deemed issued pursuant to Section f(x) below as a result of a decrease in the Conversion Price from the operation of this Section f(ix). 

  

 8 

 (x) Deemed Issuances of Common Stock. In the case of the issuance after the Original Issuance Date
of securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly, additional shares of Common Stock (the “Common Stock Equivalents”), the following provisions shall apply for all purposes of
Section (f)(ix) and this Section (f)(x): 
 (A) The aggregate maximum number of shares of Common Stock deliverable upon
conversion, exchange or exercise (assuming the satisfaction of any conditions to convertibility, exchangeability or exercisability, including, without limitation, the passage of time, but without taking into account potential antidilution
adjustments) of any Common Stock Equivalents and subsequent conversion, exchange or exercise thereof shall be deemed to have been issued at the time such securities were issued or such Common Stock Equivalents were issued. 
 (B) In the event of any change in the number of shares of Common Stock deliverable upon conversion, exchange or exercise of any Common
Stock Equivalents including, but not limited to, a change resulting from the antidilution provisions thereof, the Conversion Price for the Series J Preferred Stock, to the extent in any way affected by or computed using such Common Stock
Equivalents, shall be recomputed to reflect such change, but no further adjustment shall be made for the actual issuance of Common Stock upon the conversion, exchange or exercise of such Common Stock Equivalents. 
 (C) Upon the termination or expiration of the convertibility, exchangeability or exercisability of any Common Stock Equivalents, the
Conversion Price for the Series J Preferred Stock, to the extent in any way affected by or computed using such Common Stock Equivalents, shall be recomputed to reflect the issuance of only the number of shares of Common Stock (and Common Stock
Equivalents that remain convertible, exchangeable or exercisable) actually issued upon the conversion, exchange or exercise of such Common Stock Equivalents. 
 (D) The number of shares of Common Stock deemed issued pursuant to Section (f)(x)(A) shall be appropriately adjusted to reflect any
change, termination or expiration of the type described in either Section (f)(x)(B) or (f)(x)(C). 
 (xi) No Increased Conversion
Price. Notwithstanding any other provisions of Section (f)(ix) or Section (f)(x), except to the limited extent provided for in Sections (f)(x)(B) and (f)(x)(C), no adjustment of the Conversion Price pursuant to Section (f)(ix) or Section (f)(x)
shall have the effect of increasing the Conversion Price above the Conversion Price in effect immediately prior to such adjustment. 
 (xii)
Reorganization, Mergers, Consolidations or Sales of Assets. If at any time or from time to time there shall be a capital reorganization of the Common Stock (other than a subdivision, combination, reclassification or exchange of shares
provided for elsewhere in this paragraph (f)) or a merger or consolidation of the Corporation with or into another corporation, or the sale of all or substantially all of the Corporation’s properties and assets to any other person, then, as a
part of such reorganization, merger, consolidation or sale, provision shall be 
  

 9 

 made so that the holders of the Series J Preferred Stock shall thereafter be entitled to receive upon conversion of such
Series J Preferred Stock, the number of shares of stock or other securities or property of the Corporation or of the successor corporation resulting from such merger or consolidation or sale, to which a holder of Common Stock deliverable upon
conversion would have been entitled on such capital reorganization, merger, consolidation or sale. In any such case, appropriate adjustment shall be made in the application of the provisions of this paragraph (f) with respect to the rights of
the holders of the Series J Preferred Stock after the reorganization, merger, consolidation or sale to the end that the provisions of this paragraph (f) (including adjustment of the Conversion Price then in effect and the number of shares
purchasable upon conversion of the Series J Preferred Stock) shall be applicable after that event as nearly equivalent as may be practicable. 
 (xiii) No Dilution or Impairment. The Corporation shall not amend its Articles of Incorporation or participate in any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other
voluntary action, for the purpose of avoiding or seeking to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Corporation, without the approval of a majority of the then outstanding Series J
Preferred Stock 
 (xiv) Certificate of Adjustment. In each case of an adjustment or readjustment of the Conversion Price or the
number of shares of Common Stock or other securities issuable upon conversion of the Series J Preferred Stock, the Corporation shall compute such adjustment or readjustment in accordance herewith and the Corporation’s Chief Financial Officer
shall prepare and sign a certificate showing such adjustment or readjustment, and shall mail such certificate by first class mail, postage prepaid, to each registered holder of the Series J Preferred Stock at the holder’s address as shown in
the Corporation’s books. The certificate shall set forth such adjustment or readjustment, showing in detail the facts upon which such adjustment or readjustment is based. 
 (xv) Notices of Record Date. In the event of (A) any taking by the Corporation of a record of the holders of any class or series of
securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution or (B) any reclassification or recapitalization of the capital stock of the Corporation, any merger or consolidation of
the Corporation or any transfer of all or substantially all of the assets of the Corporation to any other corporation, entity or person, or any voluntary or involuntary dissolution, liquidation or winding up of the Corporation, the Corporation shall
mail to each holder of Series J Preferred Stock at least 10 days prior to the record date specified therein, a notice specifying (1) the date on which any such record is to be taken for the purpose of such dividend or distribution and a
description of such dividend or distribution, (2) the date on which any such reorganization, reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up is expected to become effective and (3) the time, if any
is to be fixed, as to when the holders of record of Common Stock (or other securities) shall be entitled to exchange their shares, of Common Stock (or other securities) for securities or other property deliverable upon such reorganization,
reclassification, transfer, consolidation, merger, dissolution, liquidation or winding up. 
  

 10 

 (xvi) Fractional Shares. No fractional shares of Common Stock shall be issued upon conversion of
the Series J Preferred Stock. In lieu of any fractional shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to the product of such fraction multiplied by the fair market value of one share of the
Corporation’s Common Stock on the date of conversion, as determined in good faith by the Board of Directors. 
 (xvii) Reservation of
Stock Issuable Upon Conversion. The Corporation shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the shares of the Series J Preferred
Stock, such number of its shares of Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of Series J Preferred Stock, and if at any time the number of authorized but unissued shares of Common Stock
shall not be sufficient to effect the conversion of all then outstanding shares of Series J Preferred Stock, the Corporation will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued
shares of Common Stock to such number of shares as shall be sufficient for such purpose. Notwithstanding the foregoing, at the date of execution of this Certificate of Designations for the Series J Preferred Stock, the Corporation does not have
sufficient authorized but unissued shares of Common Stock for the purpose of effecting the conversion of the shares of the Series J Preferred Stock, and as contemplated by the Series J Preferred Stock Subscription Agreement, the Corporation will use
commercially reasonable efforts to obtain the Shareholder Approval. 
 (xviii) Notices. Any notice required by the provisions of this
paragraph (f) to be given to the holders of shares of Series J Preferred Stock shall be deemed given (A) if deposited in the United States mail, postage prepaid, or (B) if given by any other reliable or generally accepted means
(including by facsimile or by a nationally recognized overnight courier service), in each case addressed to each holder of record at his address (or facsimile number) appearing on the books of the Corporation. 
 (xix) Payment of Taxes. The Corporation will pay all transfer taxes and other governmental charges that may be imposed in respect of the issue or
delivery of shares of Common Stock upon conversion of shares of Series J Preferred Stock. 
 (g) No Reissuance of Preferred Stock. Any
shares of Series J Preferred Stock acquired by the Corporation by reason of purchase, conversion or otherwise shall be canceled, retired and eliminated from the shares of Series J Preferred Stock that the Corporation shall be authorized to issue.
All such shares shall upon their cancellation become authorized but unissued shares of Preferred Stock and may be reissued as part of a new series of Preferred Stock subject to the conditions and restrictions on issuance set forth in the Articles of
Incorporation or in any certificate of designation creating a series of Preferred Stock or any similar stock or as otherwise required by law. 
 (h) Events of Default. An Event of Default shall include the commencement by the Corporation of a voluntary case or proceeding under applicable U.S. bankruptcy law or the Corporation’s failure to: (i) file the Registration
Statement with the SEC by the later of (x) the date that is ninety (90) days from the Original Issuance Date or (y) the date that is five (5) business days following the date of receipt of the Shareholder Approval;
(ii) maintain the listing 
  

 11 

 of the Common Stock on the OTC Bulletin Board, the NASDAQ Stock Market, the American Stock Exchange, or the New York
Stock Exchange; or (iii) discharge or stay a bankruptcy proceeding within sixty (60)days of such action being taken against the Corporation. If an Event of Default occurs, the ratio at which the Series J Preferred Stock may be converted into
shares of Common Stock shall be reduced to 85% of the Conversion Price. Notwithstanding the foregoing, nothing contained herein shall be deemed to limit the rights and remedies available to holders of the Series J Preferred Stock in the event of an
Event of Default. 
 (i) Severability. If any right, preference or limitation of the Series J Preferred Stock set forth herein is
invalid, unlawful or incapable of being enforced by reason of any rule, law or public policy, all other rights, preferences and limitations set forth herein that can be given effect without the invalid, unlawful or unenforceable right, preference or
limitation shall nevertheless remain in full force and effect, and no right, preference or limitation herein shall be deemed dependent upon any other such right, preference or limitation unless so expressed herein. 
 IN WITNESS WHEREOF, Diametrics Medical, Inc. has caused this Certificate of Designations of Series J Preferred Stock to be executed by W. Bruce Comer
III, its Chief Executive Officer, this 20th day of September, 2006. 
  

	
	 /s/ W. Bruce Comer III, Chief Executive Officer
  

	 W. Bruce Comer III, Chief Executive Officer

  

 12

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