Document:

EX-4.3

 Exhibit 4.3 
  

 
  

SERIES 2018-3 SUPPLEMENT 

Dated as of March 21, 2018 

to 
 THIRD AMENDED AND RESTATED

 POOLING AND SERVICING AGREEMENT 

Dated as of July 20, 2016 

$574,715,000 
  

 
 AMERICAN EXPRESS
CREDIT ACCOUNT MASTER TRUST 
 Series 2018-3 

 
  

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

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

and 
 THE BANK OF NEW YORK MELLON

 as Trustee 
 on behalf of the
Series 2018-3 Certificateholders 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	 	Page	 
			
	 ARTICLE I
	 	CREATION OF THE SERIES 2018-3 CERTIFICATES	 	 	1	 
			
	 Section 1.01.
	 	Designation	 	 	1	 
			
	 ARTICLE II
	 	DEFINITIONS	 	 	2	 
			
	 Section 2.01.
	 	Definitions	 	 	2	 
			
	 ARTICLE III
	 	SERVICING FEE	 	 	15	 
			
	 Section 3.01.
	 	Servicing Compensation	 	 	15	 
			
	 ARTICLE IV
	 	RIGHTS OF SERIES 2018-3 CERTIFICATEHOLDERS AND ALLOCATION AND APPLICATION OF COLLECTIONS	 	 	16	 
			
	 Section 4.01.
	 	Collections and Allocations	 	 	16	 
			
	 Section 4.02.
	 	Determination of Monthly Interest	 	 	18	 
			
	 Section 4.03.
	 	Principal Funding Account; Controlled Accumulation Period	 	 	20	 
			
	 Section 4.04.
	 	Required Amount	 	 	22	 
			
	 Section 4.05.
	 	Application of Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal Collections	 	 	22	 
			
	 Section 4.06.
	 	Defaulted Amounts; Investor Charge-Offs	 	 	24	 
			
	 Section 4.07.
	 	Excess Spread; Excess Finance Charge Collections	 	 	25	 
			
	 Section 4.08.
	 	Reallocated Principal Collections	 	 	26	 
			
	 Section 4.09.
	 	Excess Finance Charge Collections	 	 	27	 
			
	 Section 4.10.
	 	Reallocated Investor Finance Charge Collections	 	 	28	 
			
	 Section 4.11.
	 	Shared Principal Collections	 	 	29	 
			
	 Section 4.12.
	 	Reserve Account	 	 	29	 
			
	 Section 4.13.
	 	Investment Instructions	 	 	30	 
			
	 Section 4.14.
	 	Determination of LIBOR	 	 	31	 
			
	 ARTICLE V
	 	DISTRIBUTIONS AND REPORTS TO SERIES 2018-3 CERTIFICATEHOLDERS	 	 	32	 
			
	 Section 5.01.
	 	Distributions	 	 	32	 
			
	 Section 5.02.
	 	Reports and Statements to Series 2018-3 Certificateholders	 	 	33	 
			
	 ARTICLE VI
	 	PAY-OUT EVENTS	 	 	34	 
			
	 Section 6.01.
	 	Pay-Out Events	 	 	34	 
			
	 ARTICLE VII
	 	OPTIONAL REPURCHASE; SERIES TERMINATION	 	 	35	 
			
	 Section 7.01.
	 	Optional Repurchase	 	 	35	 
			
	 Section 7.02.
	 	Series Termination	 	 	36	 
			
	 ARTICLE VIII
	 	FINAL DISTRIBUTIONS	 	 	36	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

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

  

  
 -ii- 

 SERIES 2018-3 SUPPLEMENT, dated as of
March 21, 2018 (the “Supplement”), among AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC, a Delaware limited liability company, and AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC, a Delaware limited
liability company, as Transferors, AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., a New York corporation, as Servicer, and THE BANK OF NEW YORK MELLON, a banking corporation organized and existing under the laws of the State of New York,
not in its individual capacity, but solely as Trustee. 
 Pursuant to the Third Amended and Restated Pooling and Servicing
Agreement, dated as of July 20, 2016 (as amended and restated and as otherwise amended and supplemented, the “Agreement”), among the Transferors, the Servicer and the Trustee, the AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST
(the “Trust”) has been created. Section 6.03 of the Agreement provides that the Transferors may from time to time direct the Trustee to authenticate one or more new Series of Investor Certificates representing fractional
undivided interests in the Trust. The Principal Terms of any new Series are to be set forth in a Supplement to the Agreement. 

Pursuant to this Supplement, the Transferors and the Trustee shall create a new Series of Investor Certificates and specify
the Principal Terms thereof. 
 ARTICLE I 

Creation of the Series 2018-3 Certificates 

Section 1.01.        Designation. 

(a)        There is hereby created a Series of Investor Certificates to be issued
pursuant to the Agreement and this Supplement to be known as “American Express Credit Account Master Trust, Series 2018-3.” The Series 2018-3 Certificates
shall be issued in two Classes, the first of which shall be known as the “Class A Series 2018-3 Floating Rate Asset Backed Certificates” and the second of which shall be known as the
“Class B Series 2018-3 Floating Rate Asset Backed Certificates.” In addition, there is hereby created a third Class of uncertificated interests in the Trust which shall be known as the
“Collateral Interest, Series 2018-3” and which shall be deemed to be “Investor Certificates” for all purposes under the Agreement and this Supplement other than for purposes of the
definition of the term “Tax Opinion” in Section 1.01 of the Agreement. The Collateral Interest shall be considered a Class of Series 2018-3 for all purposes of the Agreement and this
Supplement, including for purposes of voting concerning the liquidation of the Trust pursuant to Section 9.01 of the Agreement. The Collateral Interest Holder shall be deemed to be the Series Enhancer for all purposes under the Agreement and
this Supplement. 
 (b)        Series
2018-3 shall be included in Group II and shall be a Principal Sharing Series. Series 2018-3 shall be an Excess Allocation Series. Series
2018-3 shall not be subordinated to any other Series. Notwithstanding any provision in the Agreement or in this Supplement to the contrary, the first Distribution Date with respect to Series 2018-3 shall be the April 2018 Distribution Date and the first Monthly Period shall begin on and include the Closing Date and end on and include March 31, 2018. 

(c)        Except as expressly provided herein, (i) the provisions of Article VI
and Article XII of the Agreement relating to the registration, authentication, delivery, presentation, cancellation and surrender of Registered Certificates shall not be applicable to the Collateral Interest, and (ii) the provisions of
Section 3.07 of the Agreement shall not cause the Collateral Interest to be treated as debt for federal, state and local income and franchise tax purposes, but rather the Transferors intend, and together with the Collateral Interest Holder,
agree to treat the Collateral Interest for federal, state and local income and franchise tax purposes as representing an equity interest in the assets of the Trust. 

  
 1 

 (d)        Pursuant to
Section 6.03(c) of the Agreement, the Transferors may, from time to time, increase the amount of the Series 2018-3 Certificates by issuing and selling additional Series
2018-3 Certificates. Any additional Series 2018-3 Certificates so issued shall be treated, for all purpose, like the Series
2018-3 Certificates subject to the terms of the Agreement and this Supplement. 

(e)        Series 2018-3 shall be a
Repurchase Reporting Series. 
 (f)        Series
2018-3 shall be an Investor Communication Reporting Series. 

(g)        In connection with the issuance of any future Series of Investor
Certificates, notwithstanding subsection 6.03(b)(iv) of the Agreement, the Rating Agency Condition need not be satisfied for Series 2018-3 with respect to any Rating Agency (other than Moody’s) then
rating Series 2018-3. 
 ARTICLE II 

Definitions 

Section 2.01.        Definitions. 

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

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

“Adjusted Invested Amount” shall mean, with respect to any date of
determination, an amount equal to the Invested Amount less the Principal Funding Account Balance on such date of determination. 

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

“Available Principal Collections” shall mean, with respect to any
Monthly Period, an amount equal to the sum of (a) (i) an amount equal to the Principal Allocation Percentage of Series 2018-3 Allocable Principal Collections received during such Monthly Period minus
(ii) the amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to Section 4.08 are required to fund the Required Amount for the related Distribution Date, (b) any Shared Principal
Collections with respect to other Series that are allocated to Series 2018-3 in accordance with Section 4.04 of the Agreement and Section 4.11 of this Supplement, and (c) any other amounts which
pursuant to Section 4.05 or 4.07 of this Supplement are to be treated as Available Principal Collections with respect to the related Distribution Date. 

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

 “Base Rate” shall mean, with respect to any Monthly Period, the annualized
percentage equivalent of a fraction, the numerator of which is equal to the sum of the Class A Monthly Interest, the Class B Monthly Interest (calculated as if the Class B Invested Amount equals the outstanding principal balance of
the Class B Certificates), the Collateral Senior Minimum Monthly Interest and the Monthly 

  
 2 

 
Servicing Fee with respect to the related Distribution Date and the denominator of which is the Invested Amount as of the last day of the preceding Monthly Period. 

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

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

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

“Class A Certificate Rate” shall mean, for any
Interest Accrual Period with respect to the Class A Certificates, a per annum rate equal to LIBOR plus 0.32%; provided that if the sum of LIBOR plus 0.32% is less than 0.00% for any Interest Accrual Period, then the Class A
Certificate Rate for such Interest Accrual Period shall be deemed to be 0.00%. 

“Class A Certificateholder” shall mean the Person in whose name a
Class A Certificate is registered in the Certificate Register. 

“Class A Certificates” shall mean any one of the Certificates executed
by the Transferors and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A-l. 

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

“Class A Initial Invested Amount” shall mean $500,000,000. 

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

“Class A Invested Amount” shall mean, on any date
of determination, an amount equal to (a) the Class A Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class A Certificateholders on or prior to such date, minus (c) the
excess, if any, of (i) the aggregate amount of Class A Investor Charge-Offs for all prior Distribution Dates over (ii) Class A Investor Charge-Offs reimbursed pursuant to subsection 4.07(b) prior to such date, and
plus (d) the principal amount of any additional Class A Certificates issued after the Closing Date in accordance with Section 6.03(c) of the Agreement; provided, however, that the Class A Invested Amount
shall not be reduced below zero. 

“Class A Investor Charge-Offs” shall have the
meaning specified in subsection 4.06(a). 

  
 3 

“Class A Investor Default Amount”
shall mean, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class A Floating Percentage for such Monthly Period. 

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

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

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

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

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

“Class B Adjusted Invested 
Amount” shall mean, with respect to any date of determination, an amount equal to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on
such date. 
 “Class B Available Funds” shall
mean, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with
respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date. 

“Class B Certificate Rate” shall mean, for any
Interest Accrual Period with respect to the Class B Certificates, a per annum rate equal to LIBOR plus 0.50%; provided, however, that the Transferors may adjust the Class B Certificate Rate from time to time only upon the
satisfaction of the Class B Certificate Rate Adjustment Conditions; provided that if the sum of LIBOR plus 0.50% (or, if applicable, the sum of LIBOR plus the applicable spread above LIBOR resulting from such an adjustment of the
Class B Certificate Rate) is less than 0.00% for any Interest Accrual Period, then the Class B Certificate Rate for such Interest Accrual Period shall be deemed to be 0.00%. 

“Class B Certificate Rate Adjustment Conditions” shall mean, with respect to any modification of the
Class B Certificate Rate by the Transferors, (i) the Transferors shall provide written notice to the Trustee of the modified Class B Certificate Rate no later than two Business Days prior to the date on which such modified rate is to
become effective; (ii) the modified Class B Certificate Rate shall not exceed a per annum rate equal to LIBOR plus 0.50%, (iii) the Class B Certificate Rate shall not be modified during the first Interest Accrual Period or more
than two times during any subsequent Interest Accrual Period; (iv) the Transferors shall certify in the related notice that the modified Class B Certificate Rate is a fixed rate or a “qualified floating rate” (within the meaning
of Treasury Regulations section 1.1275-5) otherwise meeting such relevant requirements as would cause the Class B Certificates to constitute variable rate debt instruments (within the meaning of Treasury
Regulations section 1.1275-5, 

  
 4 

 
including without limitation paragraph (a)(4) thereof) and determined under procedures consistent with those applicable to reset bonds (as described in Treasury Regulations section 1.1275-5(f)) such that, in either case, the fair market value of the Class B Certificates will be the Class B Invested Amount; (v) the Transferors shall certify in the related notice that the
Class B Certificates have not been previously sold by TRS or any of its Affiliates (including, without limitation, within the meaning of Affiliate, solely for purposes of this clause (v), any Person related to TRS within the meaning of sections
267(b) or 707(b)(1) of the Code) to a Person who is not TRS or any of its Affiliates; (vi) the Transferors shall provide to the Trustee an Opinion of Counsel to the effect that such modification shall not adversely affect the status of the
Class B Certificates as debt for federal income tax purposes; (vii) if the modified Class B Certificate Rate is a fixed rate or a rate based on an index other than LIBOR, the Transferors shall provide two days’ notice of such
modified rate to the Rating Agencies; and (viii) if the modified Class B Certificate Rate is a fixed rate or a rate based on an index other than LIBOR, the Transferors shall certify in the related notice to the Trustee that the Rating
Agencies have been notified pursuant to clause (vii) above. 

“Class B Certificateholder” shall mean the Person in whose name a
Class B Certificate is registered in the Certificate Register. 

“Class B Certificates” shall mean any one of the Certificates executed
by the Transferors and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A-2. 

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

“Class B Initial Invested Amount” shall mean $18,679,000. 

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

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

“Class B Investor Charge-Offs” shall have the
meaning specified in subsection 4.06(b). 

“Class B Investor Default 
Amount” shall mean, with respect to each Distribution Date, an amount equal to the product of (i) the Investor Default Amount for such Distribution Date and (ii) the Class B Floating Percentage for such Monthly Period. 

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

  
 5 

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

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

“Class B Servicing Fee” shall have the meaning
specified in Section 3.01. 
 “Closing Date” shall mean March 21, 2018;
provided that, for purposes of determining the date on which the first Monthly Period begins, the Closing Date shall be deemed to be the close of business on February 28, 2018. 

“Collateral Additional Interest” shall have the meaning specified in
subsection 4.02(c). 
 “Collateral Available Funds” shall mean with
respect to any Distribution Date, the Collateral Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period. 

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

“Collateral Default Amount” shall mean, with respect to any
Distribution Date, the product of the Investor Default Amount for such Distribution Date and the Collateral Floating Percentage. 

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

“Collateral Initial Invested Amount” shall mean
$56,036,000. 
 “Collateral Interest” shall mean a fractional undivided interest in the
Trust which shall consist of the right to receive, (i) to the extent necessary to make the required payments to the Collateral Interest Holder under this Supplement, the portion of Collections allocable thereto under the Agreement and this
Supplement and funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Supplement and (ii) amounts available for payment to the Collateral Interest Holder pursuant to subsections 4.07(k), 4.12(e),
4.12(f), 8.01(b), 8.02(a) and 8.02(b) or any other provision of this Supplement. 

“Collateral Interest Holder” shall mean the entity so designated in
the Transfer Agreement. 

  
 6 

“Collateral Interest Shortfall” shall have the meaning specified in
subsection 4.02(c). 
 “Collateral Invested Amount” shall mean, when
used with respect to any date, an amount equal to (a) the Collateral Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Collateral Interest Holder prior to such date, minus (c) the
aggregate amount of Collateral Charge-Offs for all prior Distribution Dates pursuant to subsection 4.06(c), minus (d) the aggregate amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to
Section 4.08 allocable to the Collateral Invested Amount, minus (e) an amount equal to the amount by which the Collateral Invested Amount has been reduced on all prior Distribution Dates pursuant to subsections 4.06(a) and (b),
plus (f) the amount allocated and available on all prior Distribution Dates pursuant to subsection 4.07(i), for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e), and plus (g) the
principal amount of any additional Collateral Interest issued after the Closing Date in accordance with Section 6.03(c) of the Agreement; provided, however, that the Collateral Invested Amount shall not be reduced below zero. 

“Collateral Minimum Interest Rate” shall mean the rate specified in the Transfer Agreement (as modified as
described therein); provided that for purposes of this Supplement, such rate shall not exceed LIBOR plus 1.584% per annum. 

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

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

“Collateral Senior Additional Interest” shall have the meaning
specified in subsection 4.02(d). 
 “Collateral Senior
Initial Invested Amount” shall mean $37,357,000. 

“Collateral Senior Interest Shortfall” shall have the meaning
specified in subsection 4.02(d). 
 “Collateral Senior
Invested Amount” shall mean, when used with respect to any date, an amount equal to the Collateral Senior Initial Invested Amount less the aggregate amount of principal payments distributed to the Collateral Interest
Holder in respect of the Collateral Senior Invested Amount on all prior Distribution Dates, plus the principal amount of any additional Collateral Interest issued in respect of the Collateral Senior Invested Amount after the Closing Date in
accordance with Section 6.03(c) of the Agreement. 
 “Collateral Senior Minimum Interest Rate” shall
mean the rate specified in the Transfer Agreement (as modified as described therein); provided that for purposes of this Supplement, such rate shall not exceed LIBOR plus 0.75% per annum. 

  
 7 

 “Collateral Senior Minimum Monthly Interest” shall have the
meaning specified in subsection 4.02(d). 
 “Collateral Senior Required Amount” shall have the meaning set
forth in subsection 4.04(c). 
 “Collateral Servicing Fee” shall
have the meaning set forth in Section 3.01. 

“Controlled Accumulation Amount” shall mean, for any Distribution Date
with respect to the Controlled Accumulation Period, $43,223,250; provided, however, that, if the Controlled Accumulation Period Length is determined to be less than 12 months, the Controlled Accumulation Amount for each Distribution Date with
respect to the Controlled Accumulation Period will be equal to (i) the product of (x) the sum of the Class A Initial Invested Amount and the Class B Initial Invested Amount and (y) the Controlled Accumulation Period Factor
for the related Monthly Period divided by (ii) the Required Accumulation Factor Number. 

“Controlled Accumulation Period” shall mean, unless a Pay-Out Event shall have occurred prior thereto, the period commencing at the close of business on the last day of the February 2022 Monthly Period or such later date as is determined in accordance with subsection
4.03(c) and ending on the first to occur of (a) the commencement of the Early Amortization Period, (b) the payment in full of the Invested Amount and (c) the Expected Final Payment Date. 

“Controlled Accumulation Period Factor” shall mean,
for each Monthly Period, a fraction, the numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without
duplication) of (a) the Series Invested Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 2018-3) that are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing
Series and are in their revolving periods. 

“Controlled Accumulation Period Length” has the
meaning specified in subsection 4.03(c). 

“Controlled Deposit Amount” shall mean, for any Distribution Date with
respect to the Controlled Accumulation Period, an amount equal to the sum of the Controlled Accumulation Amount for such Distribution Date and any Deficit Controlled Accumulation Amount for the immediately preceding Distribution Date. 

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

  
 8 

“Deficit Controlled Accumulation Amount” shall mean
(a) on the first Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such
Distribution Date and (b) on each subsequent Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the
Principal Funding Account on such subsequent Distribution Date. 
 “Distribution Date”
shall mean April 16, 2018, and the 15th day of each calendar month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 

“Early Amortization Period” shall mean the period commencing at the
close of business on the Business Day immediately preceding the day on which a Pay-Out Event with respect to Series 2018-3 is deemed to have occurred, and ending on the
first to occur of (i) the payment in full of the Invested Amount or (ii) the Series 2018-3 Termination Date. 

“Excess Finance Charge Collections” shall mean collections of Finance Charge Receivables and certain other
amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make required payments with respect to such series (including payments to the provider of any related Series
Enhancement) that are payable out of collections of Finance Charge Receivables. 

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

“Expected Final Payment Date” shall mean the March
2023 Distribution Date. 
 “Finance Charge Shortfall” shall have the
meaning specified in Section 4.09. 
 “Fitch” shall mean Fitch Ratings, Inc. or its successor. 

“Floating Allocation Percentage” shall mean, with respect to any
Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Adjusted Invested Amount as of the last day of the preceding Monthly Period (or with respect to the first Monthly
Period, the Initial Invested Amount) and the denominator of which is the product of (x) the Series 2018-3 Allocation Percentage with respect to such Monthly Period and (y) the sum of (i) the
total amount of Principal Receivables in the Trust as of such day (or with respect to the first Monthly Period, the total amount of Principal Receivables in the Trust on the Closing Date) and (ii) the principal amount on deposit in the Special
Funding Account as of such last day (or with respect to the first Monthly Period, as of the Closing Date); provided, however, that with respect to any Monthly Period in which an Addition Date for an Aggregate Addition or a Removal Date occurs
the amount in (y)(i) above shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including the first day of such Monthly Period to but
excluding the related Addition Date or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date for the period from and including the related Addition
Date or Removal Date to and including the last day of such Monthly Period. 
 “Group II” shall mean Series
2018-3 and each other Series specified in the related Supplement to be included in Group II. 

  
 9 

 “Group
II Investor Additional Amounts” shall mean, with respect to any Distribution Date, the sum of (a) Series 2018-3 Additional Amounts for
such Distribution Date and (b) for all other Series included in Group II, the sum of (i) the aggregate net amount by which the Invested Amounts of such Series have been reduced as a result of investor charge-offs, subordination of
principal collections and funding the investor default amounts in respect of any Class or Series Enhancement interests of such Series as of such Distribution Date and (ii) if the applicable Supplements so provide, the aggregate unpaid
amount of interest at the applicable certificate rates that has accrued on the amounts described in the preceding clause (i) for such Distribution Date. 

“Group II Investor Default Amount” shall mean, with
respect to any Distribution Date, the sum of (a) the Investor Default Amount for such Distribution Date and (b) the aggregate amount of the investor default amounts for all other Series included in Group II for such Distribution Date. 

“Group
II Investor Finance Charge Collections” shall mean, with respect to any Distribution Date, the sum of (a) Investor Finance Charge Collections for such
Distribution Date and (b) the aggregate amount of the investor finance charge collections for all other Series included in Group II for such Distribution Date. 

“Group II Investor Monthly Fees” shall mean with
respect to any Distribution Date, the sum of (a) Series 2018-3 Monthly Fees for such Distribution Date and (b) the aggregate amount of the servicing fees, investor fees, fees payable to any Series
Enhancer and any other similar fees, which are payable out of reallocated investor finance charge collections pursuant to the related Supplements, for all other Series included in Group II for such Distribution Date. 

“Group II Investor Monthly Interest” shall mean, with respect to any Distribution Date,
the sum of (a) Series 2018-3 Monthly Interest for such Distribution Date and (b) the aggregate amount of monthly interest, including overdue monthly interest and interest on such overdue monthly
interest, if such amounts are payable out of reallocated investor finance charge collections pursuant to the related Supplements, for all other Series included in Group II for such Distribution Date. 

“Initial Invested Amount” shall mean $574,715,000. 

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

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

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

“Investor Charge-Offs” shall mean Class A Investor Charge-Offs, Class B
Investor Charge-Offs and Collateral Charge-Offs. 

“Investor Default Amount” shall mean, with respect to any Distribution
Date, an amount equal to the product of (a) the Series 2018-3 Allocable Defaulted Amount for the related Monthly Period and (b) the Floating Allocation Percentage for such Monthly Period. 

“Investor Finance Charge Collections” shall mean
with respect to any Distribution Date, an amount equal to the product of (a) the Floating Allocation Percentage for the related Monthly Period 

  
 10 

 
and (b) Series 2018-3 Allocable Finance Charge Collections deposited in the Collection Account for the related Monthly Period. 

“LIBOR” shall mean, for any Interest Accrual Period, a per annum interest rate determined by the Trustee for
such Interest Accrual Period in accordance with the provisions of Section 4.14. 
 “LIBOR Determination
Date” shall mean (i) for the period from and including the Closing Date to but excluding April 16, 2018, the second London Business Day prior to the Closing Date and (ii) for every other Interest Accrual Period, the second
London Business Day prior to the commencement of such Interest Accrual Period. 
 “London Business Day”
shall mean any day on which dealings in deposits in United States dollars are transacted in the London interbank market. 

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

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

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

“Principal Allocation Percentage” shall mean, with respect to any day
during a Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is (a) during the Revolving Period, the Series Adjusted Invested Amount for Series 2018-3 as of the last day of the immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Initial Invested Amount) and (b) during the Controlled Accumulation Period, the Early
Amortization Period or any Partial Amortization Period, the Series Adjusted Invested Amount for Series 2018-3 as of the close of business on the date on which the Revolving Period shall have terminated and the
denominator of which is the product of (x) the sum of (i) the total amount of Principal Receivables in the Trust as of the last day of the immediately preceding Monthly Period (or with respect to the first Monthly Period, the total amount
of Principal Receivables in the Trust as of the Closing Date) and (ii) the principal amount on deposit in the Special Funding Account as of such last day (or with respect to the first Monthly Period, the Closing Date) and (y) the Series 2018-3 Allocation Percentage as of the last day of the immediately preceding Monthly Period; provided, however, that with respect to any Monthly Period in which an Addition Date for an Aggregate Addition or a
Removal Date occurs the amount in (x)(i) above shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including the first day of such
Monthly Period to but excluding the related Addition Date or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date for the period from and including
the related Addition Date or Removal Date to and 

  
 11 

 
including the last day of such Monthly Period; and provided further, that if after the commencement of the Controlled Accumulation Period a Pay-Out
Event occurs with respect to another Series that was designated in the Supplement therefor as a Series that is a “Paired Series” with respect to Series 2018-3, the Transferors may, by written notice
delivered to the Trustee and the Servicer, designate a different numerator for the foregoing fraction, provided that (x) such numerator is not less than the Adjusted Invested Amount as of the last day of the revolving period for such Paired
Series, (y) the Transferors shall have received written notice from each Rating Agency that the Rating Agency Condition has been satisfied with respect to such designation and shall have delivered copies of each such written notice to the
Servicer and the Trustee and (z) each Transferor shall have delivered to the Trustee an Officer’s Certificate of such Transferor to the effect that, based on the facts known to such officer at such time, in the reasonable belief of such
Transferor, such designation will not cause a Pay-Out Event or an event that, after the giving of notice or the lapse of time, would constitute a Pay-Out Event, to occur
with respect to Series 2018-3. 

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

“Principal Funding Account Balance” shall mean,
with respect to any date of determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination. 

“Principal Funding Account Investment Proceeds” shall have the meaning
specified in subsection 4.03(a)(ii). 
 “Principal Funding Account
Investment Shortfall” shall mean, with respect to each Distribution Date during the Controlled Accumulation Period, the amount, if any, by which the Principal Funding Account Investment Proceeds are less than the Covered
Amount. 

“Reallocated Investor Finance Charge 
Collections” shall mean that portion of Group II Investor Finance Charge Collections allocated to Series 2018-3 pursuant to Section 4.10. 

“Reallocated Principal Collections” shall mean, with respect to any
Monthly Period, the product of (a) the Series 2018-3 Allocable Principal Collections deposited in the Collection Account for such Monthly Period and (b) the sum of the Class B Principal
Percentage and the Collateral Principal Percentage. 
 “Reassignment Amount” shall
mean, with respect to any Distribution Date, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date, the sum of (i) the Adjusted Invested Amount on such Distribution Date, plus
(ii) Monthly Interest for such Distribution Date and any Monthly Interest previously due but not distributed to the Series 2018-3 Certificateholders on a prior Distribution Date, plus
(iii) the amount of Additional Interest, if any, for such Distribution Date and any Additional Interest previously due but not distributed to the Series 2018-3 Certificateholders on a prior Distribution
Date. 
 “Reference Banks” shall mean four major banks in the London interbank market selected by the
Servicer. 

“Required Accumulation Factor Number” shall be
equal to a fraction, rounded upwards to the nearest whole number, the numerator of which is one and the denominator of which is equal to the lowest monthly principal payment rate on the Accounts, expressed as a decimal, for the three months
preceding the date of such calculation. 
 “Required Amount” shall mean, with respect
to any Monthly Period, the sum of the Class A Required Amount, the Class B Required Amount and the Collateral Senior Required Amount. 

  
 12 

“Required Reserve Account Amount” shall mean, with
respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or
(2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received
the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written
notice to the Servicer and the Trustee. 
 “Reserve Account” shall have the meaning
specified in subsection 4.12(a). 

“Reserve Account Funding Date” shall mean the
Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the
Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the March 2021 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date
with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the September 2021 Monthly Period or any Monthly Period thereafter is less than 3%, the
Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferors may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage”
for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period. 

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

“Reserve Draw Amount” shall have the meaning specified in subsection
4.12(c). 
 “Reuters Screen LIBOR01 Page” shall mean the display page currently designated as page LIBOR01
on the Reuters Screen (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices). 

“Revolving Period” shall mean the period beginning at the close of business on the Series
Cut-Off Date and ending on the earlier of (a) the close of business on the day immediately preceding the day the Controlled Accumulation Period commences and (b) the close of business on the day
immediately preceding the day the Early Amortization Period commences. 
 “Series 2018-3” shall mean the Series of Certificates the terms of which are specified in this Supplement. 

“Series 2018-3 
Additional Amounts” shall mean, with respect to any Distribution Date, the sum of the amounts determined pursuant to subsections 4.07(b), (e) and (i) for such Distribution Date. 

“Series 2018-3 
Allocable Defaulted Amount” shall mean the Series Allocable Defaulted Amount with respect to Series 2018-3. 

“Series 2018-3 
Allocable Finance Charge Collections” shall mean the Series Allocable Finance Charge Collections with respect to Series 2018-3. 

  
 13 

“Series 2018-3 
Allocable Principal Collections” shall mean the Series Allocable Principal Collections with respect to Series 2018-3. 

“Series 2018-3 
Allocation Percentage” shall mean the Series Allocation Percentage with respect to Series 2018-3. 

“Series 2018-3 Certificate”
shall mean a Class A Certificate or a Class B Certificate or the Collateral Interest. 

“Series 2018-3 
Certificateholder” shall mean a Class A Certificateholder or a Class B Certificateholder or the Collateral Interest Holder. 

“Series 2018-3 
Certificateholders’ Interest” shall mean the Certificateholders’ Interest for Series 2018-3, including the Collateral Interest. 

“Series 2018-3 
Monthly Fees” shall mean, with respect to any Distribution Date, the amount determined pursuant to subsections 4.05(a)(ii), (b)(ii) and (c)(i) and subsection 4.07(g). 

“Series 2018-3 Monthly Interest” shall mean the amounts determined
pursuant to subsections 4.02(a), (b) and (d). 

“Series 2018-3 
Principal Shortfall” shall have the meaning specified in Section 4.11. 

“Series 2018-3 
Termination Date” shall mean the October 2025 Distribution Date. 

“Series Adjusted Portfolio Yield” shall mean, with
respect to any Monthly Period, the annualized percentage equivalent of a fraction, (A) the numerator of which is equal to (a) Reallocated Investor Finance Charge Collections with respect to such Monthly Period, plus (b) the
amount of any Principal Funding Account Investment Proceeds for the related Distribution Date, plus (c) provided that each Rating Agency has consented in writing to the inclusion thereof in calculating the Series Adjusted
Portfolio Yield, any Excess Finance Charge Collections that are allocated to Series 2018-3 with respect to such Monthly Period, plus (d) the amount of funds, if any, withdrawn from the Reserve
Account which pursuant to subsection 4.12(d) are required to be deposited into the Collection Account and included as Class A Available Funds for the Distribution Date with respect to such Monthly Period, minus (e) the Investor
Default Amount for the Distribution Date with respect to such Monthly Period, and (B) the denominator of which is the Invested Amount as of the last day of the preceding Monthly Period. 

“Series Cut-Off Date” shall
mean the close of business on March 21, 2018. 

“Series Invested Amount” shall mean, on any date of determination, an
amount equal to the Initial Invested Amount plus the aggregate initial principal amount of any additional Series 2018-3 Certificates issued pursuant to Section 6.03(c) of the Agreement. 

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

“Servicing Base Amount” shall have the meaning specified in
Section 3.01. 
 “Servicing Fee Rate” shall mean 2.0% per
annum. 
 “Special Payment Date” shall mean each Distribution
Date with respect to the Early Amortization Period. 

  
 14 

 “Transfer” shall have the meaning specified in subsection
9.07(a). 
 “Transfer Agreement” shall mean the Transfer and Administration Agreement, dated as of
March 21, 2018, among RFC III and RFC IV, as transferors, TRS, as administrator, and the American Express Credit Account Secured Note Trust 2018-3, as issuer, as the same may be amended, supplemented or
otherwise modified from time to time. 
 “Transferor Percentage” shall mean 100%
minus (a) the Floating Allocation Percentage, when used at any time with respect to Finance Charge Receivables and Defaulted Receivables, or (b) the Principal Allocation Percentage, when used at any time with respect to Principal
Receivables. 
 (b)        Notwithstanding anything to the contrary in this
Supplement or the Agreement, the term “Rating Agency” shall mean, whenever used in this Supplement or the Agreement with respect to Series 2018-3, Fitch and Moody’s. As
used in this Supplement and in the Agreement with respect to Series 2018-3, “highest investment category” shall mean (i) in the case of Fitch, AAA or F1+, as applicable and (ii) in the case
of Moody’s, Aaa or P-1, as applicable. 

(c)        Each capitalized term defined herein shall relate to the Series 2018-3 Certificates and no other Series of Certificates issued by the Trust, unless the context otherwise requires. All capitalized terms used herein and not otherwise defined herein have the meanings ascribed to
them in the Agreement. In the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Agreement, the terms and provisions of this Supplement shall govern. 

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

ARTICLE III 

Servicing Fee 

Section 3.01.        Servicing Compensation. The share
of the Servicing Fee allocable to the Series 2018-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal
to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus
(ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-3 Allocation Percentage with
respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the
Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of
the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any
Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating
Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the
“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate
and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall
the Trust, the Trustee or the Series 2018-3 Certificateholders be liable for the share of the Servicing 

  
 15 

 
Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing
Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates. 

ARTICLE IV 
 Rights of Series 2018-3 Certificateholders and 

Allocation and Application of Collections 

Section 4.01.        Collections and 
Allocations. 
 (a)      Allocations. Collections of Finance Charge Receivables and
Principal Receivables and Defaulted Receivables allocated to Series 2018-3 pursuant to Article IV of the Agreement (and, as described herein, Collections of Finance Charge Receivables reallocated from other
Series in Group II) shall be allocated and distributed or reallocated as set forth in this Article. 

(b)      Payments to the 
Transferor. The Servicer shall on each Deposit Date withdraw from the Collection Account and pay to the Holders of the Transferor Certificates the following amounts: 

(i)            an amount equal to the Transferor
Percentage for the related Monthly Period of Series 2018-3 Allocable Finance Charge Collections to the extent such amount is deposited in the Collection Account; and 

(ii)            an amount equal to the Transferor
Percentage for the related Monthly Period of Series 2018-3 Allocable Principal Collections deposited in the Collection Account, if the Transferor Amount (determined after giving effect to any Principal
Receivables transferred to the Trust on such Deposit Date) exceeds zero. 
 The withdrawals to be made from the Collection
Account pursuant to this subsection 4.01(b) do not apply to deposits into the Collection Account that do not represent Collections, including payment of the purchase price for the Certificateholders’ Interest pursuant to Section 2.06 or
10.01 of the Agreement, payment of the purchase price for the Series 2018-3 Certificateholders’ Interest pursuant to Section 7.01 of this Supplement and proceeds from the sale, disposition or
liquidation of Receivables pursuant to Section 9.01 or 12.02 of the Agreement. 

(c)      Allocations to the 
Series 2018-3 Certificateholders. The Servicer shall, prior to the close of business on each Deposit Date, allocate to the Series
2018-3 Certificateholders the following amounts as set forth below: 

(i)      Allocations of 
Finance Charge Collections. The Servicer shall allocate to the Series 2018-3 Certificateholders and retain in the Collection Account for application as provided herein
an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 2018-3 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables
deposited in the Collection Account on such Deposit Date. 

(ii)      Allocations of 
Principal Collections. The Servicer shall allocate to the Series 2018-3 Certificateholders the following amounts as set forth below: 

(x)      Allocations During 
the Revolving Period. During the Revolving Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the
Principal 

  
 16 

 
Allocation Percentage and (III) the Series 2018-3 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables
deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2018-3 Certificateholders and retained in the Collection Account until applied as provided herein and (B) an
amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2018-3 Allocation Percentage and (IV) the
aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date shall be allocated to the Series 2018-3 Certificateholders and first, if any other Principal
Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to
the Holders of the Transferor Certificates; provided, however, that such amount to be paid to the Holders of the Transferor Certificates on any Deposit Date shall be paid to such Holders only if the Transferor Amount on such Deposit Date is
greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 

(y)      Allocations During 
the Controlled Accumulation Period. During the Controlled Accumulation Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the
Collateral Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2018-3 Allocation Percentage and (IV) the aggregate amount of Collections of Principal
Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2018-3 Certificateholders and retained in the Collection Account until applied as provided herein and
(B) an amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2018-3 Allocation Percentage and
(IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date (the product specified in this clause (B) for any such date is hereinafter referred to as a
“Percentage Allocation”) shall be allocated to the Series 2018-3 Certificateholders and retained in the Collection Account until applied as provided herein; provided,
however, that if the sum of such Percentage Allocation and all preceding Percentage Allocations with respect to the same Monthly Period exceeds the Controlled Deposit Amount during the Controlled Accumulation Period for the related Distribution
Date, then such excess shall not be treated as a Percentage Allocation and shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for
application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such Deposit Date is greater than the Required
Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 

(z)      Allocations During 
the Early Amortization Period. During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 2018-3 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2018-3 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of

  
 17 

 
such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 2018-3
Certificateholders, the remainder that has not been so deposited and allocated shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for
application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor
Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 

Section 4.02.      Determination of 
Monthly Interest. 
 (a)      The amount of monthly interest
(“Class A Monthly Interest”) distributable from the Collection Account with respect to the Class A Certificates on any Distribution Date shall be an amount equal to the
product of (i) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding)
such Distribution Date and the denominator of which is 360, (ii) the Class A Certificate Rate for such Distribution Date and (iii) the outstanding principal balance of the Class A Certificates as of close of business on the
immediately preceding Record Date. 
 On the Determination Date preceding each Distribution Date, the Servicer shall
determine the excess, if any (the “Class A Interest Shortfall”), of (x) the Class A Monthly Interest for such Distribution Date over (y) the aggregate amount of
funds allocated and available to pay such Class A Monthly Interest on such Distribution Date. If the Class A Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such
Class A Interest Shortfall is fully paid, an additional amount (“Class A Additional Interest”) equal to the product of (i) a fraction, the numerator of which is the
actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the denominator of which is 360,
(ii) the sum of (x) the Class A Certificate Rate and (y) 2.0% per annum and (iii) such Class A Interest Shortfall (or the portion thereof which has not been paid to the Class A Certificateholders) shall be payable as
provided herein with respect to the Class A Certificates. Notwithstanding anything to the contrary herein, Class A Additional Interest shall be payable or distributed to the Class A Certificateholders only to the extent permitted by
applicable law. 
 (b)      The amount of monthly interest
(“Class B Monthly Interest”) distributable from the Collection Account with respect to the Class B Certificates on any Distribution Date shall be an amount equal to the product of (i) a fraction, the
numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding) such Distribution Date and the
denominator of which is 360, (ii) the Class B Certificate Rate for such Distribution Date and (iii) the Class B Invested Amount as of the close of business on the immediately preceding Record Date; provided, however, that in
the event the Class B Certificate Rate has been modified (as described in the definition thereof) during the period from and including the preceding Distribution Date to but excluding such Distribution Date, the rate described in (i) above
shall reflect a weighted average rate calculated on the basis of the actual number of days each Class B Certificate Rate was in effect during such period and a year of 360 days. 

On the Determination Date preceding each Distribution Date, the Servicer shall determine the excess, if any (the
“Class B Interest Shortfall”), of (x) the Class B Monthly Interest for such Distribution Date over (y) the aggregate amount of funds allocated and available to
pay such Class B Monthly Interest on such Distribution Date. If the Class B Interest Shortfall with respect to any 

  
 18 

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

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

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

  
 19 

 
including) the immediately preceding Distribution Date to (but excluding) such Distribution Date, the rate described in (i)(B) above shall reflect a weighted average rate calculated on the basis
of the actual number of days each Collateral Senior Minimum Interest Rate was in effect during such period and a year of 360 days. 

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

Section 4.03.      Principal Funding 
Account; Controlled Accumulation Period. 

(a)      (i)      The Servicer, for the benefit of the Series 2018-3 Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the
“Principal Funding Account”), bearing a designation clearly indicating that the funds deposited therein and the property credited thereto are held for the benefit of the Series 2018-3 Certificateholders. The Principal Funding Account shall initially be established with The Bank of New York Mellon. 

(ii)      At the written direction of the Servicer (or its agent appointed pursuant to
Section 4.13(c)), funds on deposit in the Principal Funding Account shall be invested by the Trustee in Eligible Investments selected by the Servicer (or its agent appointed pursuant to Section 4.13(c)); provided, however, that if
no such written direction is provided, funds on deposit in the Principal Funding Account shall remain uninvested. All such Eligible Investments shall be held by the Trustee for the benefit of the Series 2018-3
Certificateholders; provided that on each Distribution Date all interest and other investment income (net of losses and investment expenses) (“Principal Funding Account Investment Proceeds”) on funds on deposit therein shall
be applied as set forth in paragraph (iii) below. Subject to the first sentence of this paragraph (a)(ii), funds on deposit in the Principal Funding Account shall be invested in Eligible Investments that will mature so that such funds will be
available at the close of business on the Transfer Date preceding the following Distribution Date. Unless the Servicer directs otherwise, funds deposited in the Principal Funding Account on a Transfer Date (which immediately precedes a Distribution
Date) upon the maturity of any Eligible Investments are not required to be invested overnight. No such Eligible Investment shall be disposed of prior to its maturity; provided, however, that the Trustee shall sell, liquidate or dispose of any
such Eligible Investment if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided further, however, that the Servicer
shall deliver prompt written notice to the Trustee of any such default; and provided further that, subject to Section 11.01 of the Agreement, the Trustee will not in any way be held liable by reason of any insufficiency in such Principal
Funding Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Trustee’s failure to make payments on such Eligible Investments issued by the Trustee, in its commercial capacity, in
accordance with their terms. 

  
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 (iii)      On each Distribution Date with respect
to the Controlled Accumulation Period, the Servicer shall direct the Trustee in writing to withdraw from the Principal Funding Account and deposit into the Collection Account all Principal Funding Account Investment Proceeds then on deposit in the
Principal Funding Account and such Principal Funding Account Investment Proceeds shall be treated as a portion of Class A Available Funds and Class B Available Funds. 

(iv)      Reinvested interest and other investment income on funds deposited in the Principal
Funding Account shall not be considered to be principal amounts on deposit therein for purposes of this Supplement. 

(b)      (i)      The Trustee shall possess all right, title and
interest in all funds and property from time to time deposited in or credited to the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the sole dominion and control of the Trustee for the benefit of
the Series 2018-3 Certificateholders. If, at any time, the Principal Funding Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such
longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Principal Funding Account meeting the conditions specified in paragraph (a)(i) above as an Eligible Deposit Account and shall transfer any
cash or any investments to such new Principal Funding Account. 
 (ii)      Pursuant to the
authority granted to the Servicer in subsection 3.01(b) of the Agreement, the Servicer shall have the power to make withdrawals and payments or to instruct the Trustee to make withdrawals and payments from the Principal Funding Account for the
purposes of carrying out the Servicer’s or Trustee’s duties hereunder. Pursuant to the authority granted to the Paying Agent in Section 5.01 of this Supplement and Section 6.07 of the Agreement, the Paying Agent shall have the
power to withdraw funds from the Principal Funding Account for the purpose of making distributions to the Series 2018-3 Certificateholders. 

(c)      The Controlled Accumulation Period is scheduled to commence at the close of business
on the last day of the February 2022 Monthly Period; provided, however, that if the Controlled Accumulation Period Length (which shall be determined as described below) is less than 12 months, the date on which the Controlled Accumulation
Period actually commences will be delayed to the close of business on the last day of the month preceding the month that is the number of months prior to the Expected Final Payment Date at least equal to the Controlled Accumulation Period Length
and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal the Controlled Accumulation Period Length. On the Determination Date immediately preceding the February 2022 Distribution Date, and on each
Determination Date thereafter that occurs prior to the Determination Date occurring in the Monthly Period in which the Controlled Accumulation Period commences, the Servicer will determine the
“Controlled Accumulation Period Length” which will equal the number of months such that the sum of the Controlled Accumulation Period Factors for each month during such period
will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Controlled Accumulation Period Length shall not be less than one month. Notwithstanding the foregoing, if the Controlled Accumulation Period
Length shall have been determined to be less than 12 months and, after the date on which such determination is made, a Pay-Out Event or Reinvestment Event (as those terms are defined in the Supplement for such
Series) shall occur with respect to any outstanding Principal Sharing Series other than Series 2018-3, the Controlled Accumulation Period will commence on the earlier of (i) the first day of the Monthly
Period immediately succeeding the date that such Pay-Out Event or Reinvestment Event shall have occurred with respect to such Series and (ii) the date on which the Controlled Accumulation Period is then
scheduled to commence. 

  
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Section 4.04.      Required Amount. 

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

(b)      With respect to each Distribution Date, on the related Determination Date, the
Servicer shall determine the amount (the “Class B Required Amount”), if any, equal to the sum of (x) the amount, if any, by which (A) the sum of
(i) Class B Monthly Interest for such Distribution Date, (ii) any Class B Monthly Interest previously due but not paid to the Class B Certificateholders, (iii) Class B Additional Interest, if any, for such
Distribution Date, (iv) any Class B Additional Interest previously due but not paid to the Class B Certificateholders on a prior Distribution Date, (v) if TRS or an Affiliate of TRS is no longer the Servicer, the Class B
Servicing Fee for such Distribution Date and (vi) if TRS or an Affiliate of TRS is no longer the Servicer, any Class B Servicing Fee previously due but not paid to the Servicer exceeds (B) the Class B Available Funds and
(y) the Class B Investor Default Amount for such Distribution Date. In the event that the difference between (x) the Class B Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance
Charge Collections applied with respect thereto pursuant to subsection 4.07(d) on such Distribution Date is greater than zero, the Servicer shall give written notice to the Transferors and the Trustee of such excess Class B Required Amount on
the date of computation. 
 (c)      With respect to each Distribution Date, on the related
Determination Date, the Servicer shall determine the amount (the “Collateral Senior Required Amount”), if any, by which (x) the sum of (i) if TRS or an Affiliate of TRS is no longer the Servicer, the Collateral Servicing
Fee for such Distribution Date, (ii) if TRS or an Affiliate of TRS is no longer the Servicer, any Collateral Servicing Fee previously due but not paid to the Servicer, (iii) Collateral Senior Minimum Monthly Interest for such Distribution
Date, (iv) any Collateral Senior Minimum Monthly Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, (v) Collateral Senior Additional Interest, if any, for such Distribution Date, and
(vi) any Collateral Senior Additional Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date exceeds (y) the sum of (A) the amount of Collateral Available Funds to be applied under
Section 4.05(c)(i) on such Distribution Date and (B) the amount of Excess Spread and Excess Finance Charge Collections available to be applied pursuant to subsection 4.07(f) on such Distribution Date. In the event that the Collateral
Senior Required Amount is greater than zero, the Servicer shall give written notice to the Transferors and the Trustee of such Collateral Senior Required Amount on the date of computation. 

Section 4.05.      Application of Class A Available Funds,
Class B Available Funds, Collateral Available Funds and Available Principal Collections. The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit
B, on each Distribution Date, Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal Collections on deposit in the Collection Account with respect to such Distribution Date to make the
following distributions: 

  
 22 

 (a)      On each Distribution Date, an amount
equal to the Class A Available Funds with respect to such Distribution Date will be distributed or deposited in the following priority: 

(i)      an amount equal to Class A Monthly Interest for such Distribution
Date, plus the amount of any Class A Monthly Interest previously due but not distributed to Class A Certificateholders on a prior Distribution Date, plus the amount of any Class A Additional Interest for such
Distribution Date and any Class A Additional Interest previously due but not distributed to Class A Certificateholders on a prior Distribution Date, shall be distributed to the Paying Agent for payment to the Class A
Certificateholders; 
 (ii)      if TRS or an Affiliate of TRS is no longer
the Servicer, an amount equal to the Class A Servicing Fee for such Distribution Date, plus the amount of any Class A Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be
distributed to the Servicer; 
 (iii)      an amount equal to the
Class A Investor Default Amount for such Distribution Date shall be treated as a portion of Available Principal Collections for such Distribution Date; and 

(iv)      the balance, if any, shall constitute Excess Spread and shall be
allocated and distributed or deposited as set forth in Section 4.07. 
 (b)      On each
Distribution Date, an amount equal to the Class B Available Funds with respect to such Distribution Date will be distributed or deposited in the following priority: 

(i)      an amount equal to Class B Monthly Interest for such Distribution
Date, plus the amount of any Class B Monthly Interest previously due but not distributed to Class B Certificateholders on a prior Distribution Date, plus the amount of any Class B Additional Interest for such
Distribution Date and any Class B Additional Interest previously due but not distributed to Class B Certificateholders on a prior Distribution Date, shall be distributed to the Paying Agent for payment to the Class B
Certificateholders; 
 (ii)      if TRS or an Affiliate of TRS is no longer
the Servicer, an amount equal to the Class B Servicing Fee for such Distribution Date, plus the amount of any Class B Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be
distributed to the Servicer; and 
 (iii)      the balance, if any, shall
constitute Excess Spread and shall be allocated and distributed or deposited as set forth in Section 4.07. 

(c)      On each Distribution Date, an amount equal to the Collateral Available Funds with
respect to such Distribution Date will be distributed or deposited in the following priority: 

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

(ii)      the balance, if any, shall constitute Excess Spread and shall be
allocated and distributed or deposited as set forth in Section 4.07. 

  
 23 

 (d)      On each Distribution Date with respect to
the Revolving Period, an amount equal to the Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be treated as Shared Principal Collections and applied in accordance with Section 4.04 of the
Agreement. 
 (e)      On each Distribution Date with respect to the Controlled Accumulation
Period, an amount equal to the Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be distributed in the following order of priority: 

(i)      an amount equal to the lesser of (x) the Controlled Deposit
Amount and (y) the sum of the Class A Adjusted Invested Amount and the Class B Adjusted Invested Amount shall be deposited in the Principal Funding Account; 

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

(iii)      the balance of such Available Principal Collections shall be treated
as Shared Principal Collections and applied in accordance with Section 4.04 of the Agreement. 

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

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

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

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

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

Section 4.06.      Defaulted Amounts; 
Investor Charge-Offs. 
 (a)      On each Determination Date, the
Servicer shall calculate the Class A Investor Default Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class A Required Amount for the related Monthly Period exceeds the sum of (x) the amount of
Reallocated Principal Collections allocated to Series 2018-3 with respect to such Monthly Period and (y) the amount of Excess Spread and the Excess Finance Charge Collections allocable to Series 2018-3 with respect to such Monthly Period, the Collateral Invested Amount, if any, will be reduced by the amount of such excess, but not by more than the Class A Investor Default Amount for such Distribution
Date. In the 

  
 24 

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

(b)      On each Determination Date, the Servicer shall calculate the Class B Investor
Default Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class B Required Amount for such Distribution Date exceeds the sum of (x) the amount of Excess Spread and Excess Finance Charge Collections
allocated to Series 2018-3 with respect to the related Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(d) and (y) the Reallocated Principal Collections
allocable to the Collateral Interest and not required to pay the Class A Required Amount with respect to such Distribution Date, then the Collateral Invested Amount shall be reduced by the amount of such excess. In the event that such reduction
would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount shall be reduced to zero, and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been
reduced below zero, but not by more than the excess, if any, of the Class B Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date
(a “Class B Investor Charge-Off”). Class B Investor Charge-Offs shall thereafter be reimbursed and the Class B Invested
Amount increased (but not by an amount in excess of the aggregate unreimbursed Class B Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose
pursuant to subsection 4.07(e). References to “negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below zero. 

(c)      On each Determination Date, the Servicer shall calculate the Collateral Default
Amount. If on any Distribution Date the Collateral Default Amount for the previous Monthly Period exceeds the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2018-3 with
respect to the related Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(h), the Collateral Invested Amount will be reduced by the amount of such excess but not by more than the lesser of the Collateral
Default Amount and the Collateral Invested Amount for such Distribution Date (a “Collateral Charge-Off”). The Collateral Invested Amount will be reimbursed after any
reduction pursuant to this Section 4.06 on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available on such Distribution date for that purpose as described under subsection 4.07(i). 

Section 4.07.      Excess Spread; 
Excess Finance Charge Collections. The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, on each
Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 2018-3 with respect to the related Monthly Period, to make the following distributions or deposits in the following
order of priority: 

  
 25 

 (a)      an amount equal to the Class A
Required Amount, if any, with respect to such Distribution Date shall be distributed by the Trustee to fund the Class A Required Amount in accordance with, and in the priority set forth in, subsections 4.05(a)(i), (ii) and (iii); 

(b)      an amount equal to the aggregate amount of Class A Investor Charge-Offs which
have not been previously reimbursed shall be treated as a portion of Available Principal Collections for such Distribution Date; 

(c)      an amount equal to interest on the aggregate outstanding principal balance of the
Class B Certificates not otherwise distributed to the Class B Certificateholders pursuant to Section 4.05(b)(i), at a rate per annum equal to the Class B Certificate Rate, shall be distributed to the Class B
Certificateholders, except that interest previously due but not paid will accrue interest at a rate per annum equal to the Class B Certificate Rate plus 2% per annum; 

(d)      an amount equal to the Class B Required Amount, if any, with respect to such
Distribution Date will be (i) used to fund the Class B Required Amount and be applied in accordance with subsections 4.05(b)(i) and 4.05(b)(ii), and then (ii) an amount up to the Class B Investor Default Amount will be
treated and applied as Available Principal Collections for such Distribution Date; 

(e)      an amount equal to the aggregate amount by which the Class B Invested Amount has
been reduced pursuant to clauses (c), (d) and (e) of the definition of “Class B Invested Amount” in Section 2.01 of this Supplement (but not in excess of the aggregate amount of such reductions which have not been previously
reimbursed) shall be treated as a portion of Available Principal Collections for such Distribution Date; 

(f)      an amount equal to Collateral Senior Minimum Monthly Interest for such Distribution
Date, plus the amount of any Collateral Senior Minimum Monthly Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, plus the amount of any Collateral Senior Additional Interest for
such Distribution Date and any Collateral Senior Additional Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, shall be distributed to the Collateral Interest Holder; 

(g)      an amount equal to the Monthly Servicing Fee for such Distribution Date that has not
been paid to the Servicer and any Monthly Servicing Fee due but not paid to the Servicer on a prior Distribution Date shall be paid to the Servicer; 

(h)      an amount equal to the Collateral Default Amount, if any, for such Distribution Date
shall be treated as a portion of Available Principal Collections for such Distribution Date; 

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

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

Section 4.08.      Reallocated Principal 
Collections. On each Distribution Date, the Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee substantially 

  
 26 

 
in the form of Exhibit B, Reallocated Principal Collections with respect to such Distribution Date, to make the following distributions or deposits in the following order of priority: 

(a)      an amount equal to the excess, if any, of (i) the Class A Required Amount,
if any, with respect to such Distribution Date over (ii) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2018-3 with respect to the related Monthly Period shall be
distributed by the Trustee to fund any deficiency pursuant to and in the priority set forth in subsections 4.05(a)(i), (ii) and (iii); 

(b)      an amount equal to the excess, if any, of (i) the Class B Required Amount,
if any, with respect to such Distribution Date over (ii) the amount of Excess Spread and Excess Finance Charge Collections allocated and available to the Class B Certificates pursuant to subsections 4.07(c) and (d) on such
Distribution Date shall be applied first to fund any deficiency pursuant to subsections 4.05(b)(i) and (ii) and then to fund any deficiency pursuant to and in the priority set forth in subsections 4.07(c) and (d); and 

(c)      an amount equal to the Collateral Senior Required Amount, if any, with respect to such
Distribution Date shall be applied to fund any deficiency pursuant to subsection 4.05(c)(i) and subsection 4.07(f), in that order of priority; provided, however, that Reallocated Principal Collections shall only be applied pursuant to
this subsection 4.08(c) to the extent the Collateral Invested Amount shall be no lower than the Collateral Senior Invested Amount after giving effect to the related reduction in the Collateral Invested Amount. 

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

On each Distribution Date, the Collateral Invested Amount shall be reduced by the amount of Reallocated Principal Collections
for such Distribution Date; provided, however, that the Collateral Invested Amount shall not be reduced below the Collateral Senior Invested Amount in connection with the application of Reallocated Principal Collections pursuant to
subsection 4.08(c). In the event that such reduction would cause the Collateral Invested Amount (after giving effect to any Collateral Charge-Offs for such Distribution Date) to be a negative number, the Collateral Invested Amount (after giving
effect to any Collateral Charge-Offs for such Distribution Date) shall be reduced to zero and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero. In the event
that the reallocation of Reallocated Principal Collections would cause the Class B Invested Amount (after giving effect to any Class B Investor Charge-Offs for such Distribution Date) to be a negative number on any Distribution Date,
Reallocated Principal Collections shall be reallocated on such Distribution Date in an aggregate amount not to exceed the amount which would cause the Class B Invested Amount (after giving effect to any Class B Investor Charge-Offs for
such Distribution Date) to be reduced to zero. References to “negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below zero. 

Section 4.09.      Excess Finance 
Charge Collections. Series 2018-3 shall be an Excess Allocation Series. Subject to Section 4.05 of the Agreement, Excess Finance Charge Collections with respect to the Excess
Allocation Series for any Distribution Date will be allocated to Series 2018-3 in an amount equal to the product of (x) the aggregate amount of Excess Finance Charge Collections with respect to all the
Excess Allocation Series for such Distribution Date and (y) a fraction, the numerator of which is the Finance Charge Shortfall for Series 2018-3 for such Distribution Date and the denominator of which is
the aggregate amount of Finance Charge Shortfalls for all the Excess Allocation Series for such Distribution Date. The “Finance Charge Shortfall” for Series
2018-3 for any Distribution Date will 

  
 27 

 
be equal to the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to subsections 4.05(a), 4.05(b) and 4.05(c) and subsections 4.07(a) through
(j) on such Distribution Date and the full amount required to be paid, without duplication, pursuant to subsections 3.02(a)(iii) and 3.02(a)(iv) of the Transfer Agreement on the related Payment Date (as such term is defined in the Transfer
Agreement) over (b) the sum of (i) the Reallocated Investor Finance Charge Collections, (ii) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period or Early Amortization Period, the
amount of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date and (iii) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be
included in Class A Available Funds with respect to such Distribution Date. The amount of Excess Finance Charge Collections for Series 2018-3 for any Distribution Date shall be specified in subsection
3.02(a)(v) of the Transfer Agreement. On each Distribution Date, the Trustee shall deposit into the Collection Account for application in accordance with Section 4.05 of the Agreement the aggregate amount of Excess Finance Charge Collections
received by the Trustee pursuant to the Transfer Agreement on such date. 

Section 4.10.      Reallocated Investor 
Finance Charge Collections. 
 (a)      That portion
of Group II Investor Finance Charge Collections for any Distribution Date equal to the amount of Reallocated Investor Finance Charge Collections for such Distribution Date will be allocated to Series 2018-3
and will be distributed as set forth in this Supplement. 
 (b)      Reallocated Investor
Finance Charge Collections with respect to any Distribution Date shall equal the sum of (i) the aggregate amount of Series 2018-3 Monthly Interest, Investor Default Amount, Series 2018-3 Monthly Fees and Series 2018-3 Additional Amounts for such Distribution Date and (ii) that portion of excess Group II Investor Finance Charge Collections to be
included in Reallocated Investor Finance Charge Collections pursuant to subsection (c) hereof; provided, however, that if the amount of Group II Investor Finance Charge Collections for such Distribution Date is less than the sum of
(w) Group II Investor Monthly Interest, (x) Group II Investor Default Amount, (y) Group II Investor Monthly Fees and (z) Group II Investor Additional Amounts, then Reallocated Investor Finance Charge Collections shall equal the
sum of the following amounts for such Distribution Date: 
 (A)      The
product of (I) Group II Investor Finance Charge Collections (up to the amount of Group II Investor Monthly Interest) and (II) a fraction, the numerator of which is Series 2018-3 Monthly Interest and
the denominator of which is Group II Investor Monthly Interest; 

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

 (C)      the product of (I) Group II Investor Finance Charge
Collections less the amount of Group II Investor Monthly Interest and the Group II Investor Default Amount (up to Group II Investor Monthly Fees) and (II) a fraction, the numerator of which is Series
2018-3 Monthly Fees and the denominator of which is Group II Investor Monthly Fees; and 

(D)      the product of (I) Group II Investor Finance Charge Collections
less the sum of (i) Group II Investor Monthly Interest, (ii) the Group II Investor Default Amount and (iii) Group II Investor Monthly Fees and (II) a fraction, the numerator of which is Series
2018-3 Additional Amounts and the denominator of which is Group II Investor Additional Amounts. 

  
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 (c)      If the amount of Group II Investor
Finance Charge Collections for such Distribution Date exceeds the sum of (i) Group II Investor Monthly Interest, (ii) Group II Investor Default Amount, (iii) Group II Investor Monthly Fees and (iv) Group II Investor Additional
Amounts, then Reallocated Investor Finance Charge Collections for such Distribution Date shall include an amount equal to the product of (x) the amount of such excess and (y) a fraction, the numerator of which is the Invested Amount as of
the last day of the second preceding Monthly Period (or, for Series 2018-3 only, with respect to the first Distribution Date, as of the Closing Date) and the denominator of which is the sum of such Invested
Amount and the aggregate invested amounts for all other Series included in Group II as of such last day (or, for Series 2018-3 only, with respect to the first Distribution Date, as of the Closing Date). 

Section 4.11.      Shared Principal 
Collections. Subject to Section 4.04 of the Agreement, Shared Principal Collections for any Distribution Date will be allocated to Series 2018-3 in an amount equal to the product of (x) the
aggregate amount of Shared Principal Collections with respect to all Principal Sharing Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 2018-3 Principal Shortfall
for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all the Series which are Principal Sharing Series for such Distribution Date. The
“Series 2018-3 Principal Shortfall” will be equal to (a) for any Distribution Date with respect to the Revolving Period, zero,
(b) for any Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount with respect to such Distribution Date over the amount of Available Principal Collections for such
Distribution Date (excluding any portion thereof attributable to Shared Principal Collections), and (c) for any Distribution Date with respect to the Early Amortization Period, the excess, if any, of the Invested Amount over the amount of
Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections). 

Section 4.12.      Reserve Account. 

(a)      The Servicer shall establish and maintain, in the name of the Trustee, on behalf of
the Trust, for the benefit of the Series 2018-3 Certificateholders, an Eligible Deposit Account (the “Reserve Account”) bearing a designation clearly indicating that the
funds deposited therein and the property credited thereto are held for the benefit of the Series 2018-3 Certificateholders. The Reserve Account shall initially be established with The Bank of New York Mellon.
The Trustee shall possess all right, title and interest in all funds and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the
Trustee for the benefit of the Series 2018-3 Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10
Business Days (or such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or
any investments to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the
purposes set forth in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and
otherwise in accordance with, subsection 4.07(j). 
 (b)      Funds on deposit in the Reserve
Account shall be invested at the written direction of the Servicer (or its agent appointed pursuant to Section 4.13(c)) by the Trustee in Eligible Investments; provided, however, that if no such written direction is provided, funds on
deposit in the Reserve Account shall remain uninvested. Subject to the immediately preceding sentence, funds on deposit in the Reserve Account on any Transfer Date, after giving effect to any withdrawals from the Reserve Account on such Transfer
Date, shall be invested in such investments that will mature so that such funds will be available for withdrawal on or prior to the following Transfer Date. No such Eligible Investment shall be disposed

  
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of prior to its maturity; provided, however, that the Trustee shall sell, liquidate or dispose of any such Eligible Investment if, prior to the maturity of such Eligible Investment, a
default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided further, however, that the Servicer shall deliver prompt written notice to the Trustee of any such default; and
provided further that, subject to Section 11.01 of the Agreement, the Trustee will not in any way be held liable by reason of any insufficiency in such Reserve Account resulting from any loss on any Eligible Investment included therein
except for losses attributable to the Trustee’s failure to make payments on such Eligible Investments issued by the Trustee, in its commercial capacity, in accordance with their terms. On each Distribution Date, all interest and earnings (net
of losses and investment expenses) accrued since the preceding Distribution Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account (to the extent that the Available Reserve Account Amount is less than the Required
Reserve Account Amount) and the balance, if any, shall be deposited in the Collection Account and treated as collections of Finance Charge Receivables allocable to Series 2018-3. For purposes of determining
the availability of funds or the balance in the Reserve Account for any reason under this Supplement, except as otherwise provided in the preceding sentence, investment earnings on such funds shall be deemed not to be available or on deposit. 

(c)      On the Determination Date preceding each Distribution Date with respect to the
Controlled Accumulation Period and the first Special Payment Date, the Servicer shall calculate the “Reserve Draw Amount” which shall be equal to the excess, if any, of the Covered Amount with
respect to such Distribution Date or Special Payment Date over the Principal Funding Account Investment Proceeds with respect to such Distribution Date or Special Payment Date; provided, that such amount will be reduced to the
extent that funds otherwise would be available for deposit in the Reserve Account under subsection 4.07(j) with respect to such Distribution Date or Special Payment Date. 

(d)      In the event that for any Distribution Date the Reserve Draw Amount is greater than
zero, the Reserve Draw Amount, up to the Available Reserve Account Amount, shall be withdrawn from the Reserve Account on the related Transfer Date by the Trustee (acting in accordance with the instructions of the Servicer), deposited into the
Collection Account and included in Class A Available Funds for such Distribution Date. 

(e)      In the event that the Reserve Account Surplus on any Distribution Date, after giving
effect to all deposits to and withdrawals from the Reserve Account with respect to such Distribution Date, is greater than zero, the Trustee, acting in accordance with the written instructions of the Servicer, shall withdraw from the Reserve
Account, and distribute to the Collateral Interest Holder, an amount equal to such Reserve Account Surplus. 

(f)      Upon the earliest to occur of (i) the day on which the Invested Amount is paid in
full to the Series 2018-3 Certificateholders, (ii) if the Controlled Accumulation Period has not commenced, the occurrence of a Pay-Out Event with respect to Series
2018-3, (iii) if the Controlled Accumulation Period has commenced, the earlier of the first Special Payment Date and the Expected Final Payment Date and (iv) the termination of the Trust pursuant to the
Agreement, the Trustee, acting in accordance with the instructions of the Servicer, after the prior payment of all amounts owing to the Class A Certificateholders which are payable from the Reserve Account as provided herein, shall withdraw
from the Reserve Account and pay to the Collateral Interest Holder all amounts, if any, on deposit in the Reserve Account and the Reserve Account shall be deemed to have terminated for purposes of this Supplement. 

Section 4.13.      Investment Instructions. 

(a)      Any investment instructions required to be given to the Trustee pursuant to the terms
hereof must be given to the Trustee no later than 10:30 a.m. (New York City time) on the date such investment is to be made. In the event the Trustee receives such investment instruction later than such

  
 30 

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

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

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

Section 4.14.      Determination of LIBOR. 

(a)      On each LIBOR Determination Date, the Trustee will determine LIBOR for the related
Interest Accrual Period, which shall be the rate for deposits in United States dollars for a period equal to one month (commencing on the first day of such Interest Accrual Period) that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London
time, on such date. Upon such determination, the Trustee shall notify the Servicer of LIBOR for such LIBOR Determination Date. If such rate does not appear on Reuters Screen LIBOR01 Page, the rate for the LIBOR Determination Date will be determined
on the basis of the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a period equal to one month (commencing
on the first day of such Interest Accrual Period). The Servicer will request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that LIBOR
Determination Date will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by four major banks in New York
City, selected by the Servicer, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a period equal to one month 

  
 31 

 
(commencing on the first day of such Interest Accrual Period). If the banks selected by the Servicer are not quoting rates as provided in the immediately preceding sentence, LIBOR for such
Interest Accrual Period will be LIBOR in effect for the immediately preceding Interest Accrual Period. 

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

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

 Distributions and Reports to 

Series 2018-3 Certificateholders 

Section 5.01.      Distributions. 

(a)      On each Distribution Date, the Paying Agent shall distribute to each Class A
Certificateholder of record on the related Record Date (other than as provided in Section 12.02 of the Agreement) such Class A Certificateholder’s pro rata share of the amounts held by the Paying Agent that are allocated and
available on such Distribution Date to pay interest on the Class A Certificates pursuant to this Supplement. 

(b)      On each Special Payment Date and on the Expected Final Payment Date, the Paying Agent
shall distribute (in accordance with the Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class A Certificateholder of record on the related Record Date (other than as provided in
Section 12.02 of the Agreement) such Class A Certificateholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such date to
pay principal of the Class A Certificates pursuant to this Supplement up to a maximum amount on any such date equal to the Class A Invested Amount on such date (unless there has been an optional repurchase of the Series 2018-3 Certificateholders’ Interest pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply). 

(c)      On each Distribution Date, the Paying Agent shall distribute (in accordance with the
Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class B Certificateholder of record on the related Record Date (other than as provided in Section 12.02 of the Agreement) such Class B
Certificateholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Distribution Date to pay interest on the Class B Certificates pursuant to this Supplement. 

(d)      On each Special Payment Date, and on the Expected Final Payment Date, the Paying Agent
shall distribute (in accordance with the Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class B Certificateholder of record on the related Record Date (other than as provided in
Section 12.02 of the Agreement) such Class B Certificateholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such date to
pay principal of the Class B Certificates pursuant to this Supplement up to a maximum amount on any such date equal to the Class B Invested Amount on such date (unless there has been an optional repurchase of the Series 2018-3 Certificateholders’ Interest pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply). 

  
 32 

 (e)      On each Distribution Date, the Trustee
shall distribute to the Collateral Interest Holder the aggregate amount payable to the Collateral Interest Holder pursuant to Sections 4.05, 4.07, 4.12, 8.01 and 8.02 to the Collateral Interest Holder’s account, as specified in writing by the
Collateral Interest Holder, in immediately available funds. 
 (f)      The distributions to
be made pursuant to this Section 5.01 are subject to the provisions of Sections 2.06, 9.02, 10.01 and 12.02 of the Agreement and Sections 8.01 and 8.02 of this Supplement. 

(g)      Except as provided in Section 12.02 of the Agreement with respect to a final
distribution, distributions to Series 2018-3 Certificateholders hereunder shall be made by check mailed to each Series 2018-3 Certificateholder at such Series 2018-3 Certificateholder’s address appearing in the Certificate Register without presentation or surrender of any Series 2018-3 Certificate or the making of any notation
thereon; provided, however, that with respect to Series 2018-3 Certificates registered in the name of a Clearing Agency, such distributions shall be made to such Clearing Agency in immediately available
funds. 
 (h)      The distributions to be made pursuant to this Section 5.01 are to be
made pursuant to the written instructions of the Servicer substantially in the form of Exhibit B. 

Section 5.02.      Reports and 
Statements to Series 2018-3 Certificateholders. 

(a)      On each Distribution Date, the Paying Agent, on behalf of the Trustee, shall make
available, and shall forward to each Series 2018-3 Certificateholder upon request, a statement substantially in the form of Exhibit C-1 to this Supplement
prepared by the Servicer and delivered to the Paying Agent. 
 (b)      Not later than each
Determination Date, the Servicer shall deliver to the Trustee, the Paying Agent, the Transferors, each Rating Agency and the Collateral Interest Holder (i) a statement substantially in the form of Exhibit
C-1 to this Supplement prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit D. 

(c)      A copy of each statement or certificate provided pursuant to paragraph (a) or (b)
may be obtained by any Series 2018-3 Certificateholder or any Certificate Owner thereof by a request in writing to the Servicer. 

(d)      On or before January 31 of each calendar year, beginning with calendar year 2019,
the Paying Agent, on behalf of the Trustee, shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 2018-3 Certificateholder, a statement
substantially in the form of Exhibit C-2 to this Supplement to the extent prepared by the Servicer and delivered to the Paying Agent for such calendar year or the applicable portion thereof during which
such Person was a Series 2018-3 Certificateholder, together with such information as is required to be provided by a paying agent under the Code (including Forms 1099 and other customary tax reporting
information) and, to the extent prepared by the Servicer and delivered to the Paying Agent, such other information as is required to be provided by an issuer of indebtedness under the Code. The obligations of the Servicer and Paying Agent to prepare
and deliver the statement substantially in the form of Exhibit C-2 to this Supplement shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by
the Paying Agent pursuant to any requirements of the Code as from time to time in effect. 

  
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 ARTICLE VI 

Pay-Out Events 

Section 6.01.      Pay-Out 
Events. If any one of the following events shall occur with respect to the Series 2018-3 Certificates: 

(a)      the occurrence of an Insolvency Event relating to any Transferor or other holder of
the Original Transferor Certificate; 
 (b)      the Trust becomes an investment company
within the meaning of the Investment Company Act; 
 (c)      failure on the part of any
Transferor (i) to make any payment or deposit required by the terms of the Agreement or this Supplement on or before the date occurring five Business Days after the date such payment or deposit is required to be made therein or herein or
(ii) duly to observe or perform any other covenants or agreements of the Transferors set forth in the Agreement or this Supplement, which failure has a material adverse effect on the Series 2018-3
Certificateholders and which continues unremedied for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to such Transferor by the Trustee, or to the Transferors and
the Trustee by any Holder of the Series 2018-3 Certificates; 

(d)      any representation or warranty made by any Transferor in the Agreement or this
Supplement, or any information contained in a computer file or microfiche list required to be delivered by any Transferor pursuant to Section 2.01 or subsection 2.08(f) of the Agreement shall prove to have been incorrect in any material respect
when made or when delivered, which continues to be incorrect in any material respect for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to such Transferor by the
Trustee, or to such Transferor and the Trustee by any Holder of the Series 2018-3 Certificates and as a result of which the interests of the Series 2018-3
Certificateholders are materially and adversely affected for such period; provided, however, that a Pay-Out Event pursuant to this subsection 6.01(d) shall not be deemed to have occurred hereunder if a
Transferor has accepted reassignment of the related Receivable, or all of such Receivables, if applicable, during such period (or such longer period not to exceed an additional 60 days as the Trustee may specify) in accordance with the provisions of
the Agreement; 
 (e)      a failure by a Transferor to convey Receivables in Additional
Accounts or Participation Interests to the Trust within five Business Days after the day on which it is required to convey such Receivables or Participation Interests pursuant to subsection 2.09(a) of the Agreement; 

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

(g)      the average Series Adjusted Portfolio Yield for any three consecutive Monthly Periods
is reduced to a rate which is less than the average of the Base Rates for such period; 

(h)      the Class A Invested Amount, the Class B Invested Amount or the Collateral
Invested Amount shall not be paid in full on the Expected Final Payment Date; 
 (i)      a
Transfer Restriction Event shall occur; 
 (j)    the occurrence of an Insolvency Event as defined in
the Receivables Purchase Agreement relating to any Account Owner; or 

  
 34 

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

Optional Repurchase; Series Termination 

Section 7.01.      Optional Repurchase. 

(a)      So long as a Transferor is the Servicer or an Affiliate of the Servicer, on any day
occurring on or after the date on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 2018-3 Certificateholders’
Interest, at a purchase price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following
such day. If, on the date on which a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 2018-3 Certificateholders’ Interest is not rated at
least in the third highest rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent
conveyance statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. 

(b)      The Transferors shall give the Servicer and the Trustee at least 30 days prior written
notice of the date on which the Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferors shall deposit the Reassignment Amount into the Collection Account in immediately
available funds. Such purchase option is subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 2018-3 shall be reduced to zero and the Series 2018-3 Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set
forth in subsection 8.01(b). 

  
 35 

Section 7.02.      Series Termination. 

(a)      If, on the August 2025 Distribution Date, the Invested Amount (after giving effect to
all changes therein on such date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40-day period which begins on such Distribution Date, solicit bids for the sale of
Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Series
2018-3 Termination Date (after giving effect to all distributions required to be made on the Series 2018-3 Termination Date, except pursuant to this Section 7.02).
Such bids shall require that such sale shall (subject to subsection 7.02(b)) occur on the Series 2018-3 Termination Date. No Transferor, any Affiliate thereof, any agent thereof or any other party consolidated
with such Transferor for purposes of United States generally accepted accounting principles shall be entitled to participate in such bidding process or to purchase the Receivables; provided, however, that, to the extent the Collateral
Interest Holder is not a Transferor, an Affiliate thereof, an agent thereof or any other party consolidated with a Transferor for purposes of United States generally accepted accounting principles, the Collateral Interest Holder may participate in
such bidding process. 
 (b)      The Servicer, on behalf of the Trustee, shall sell such
Receivables (or interests therein) on the Series 2018-3 Termination Date to the bidder who made the highest cash purchase offer. The proceeds of any such sale shall be treated as Collections on the Receivables
allocated to the Series 2018-3 Certificateholders pursuant to the Agreement and this Supplement; provided, however, that the Servicer shall determine conclusively the amount of such proceeds which are
allocable to Finance Charge Receivables and the amount of such proceeds which are allocable to Principal Receivables. During the period from the August 2025 Distribution Date to the Series 2018-3 Termination
Date, the Servicer shall continue to collect payments on the Receivables and allocate and deposit such Collections in accordance with the provisions of the Agreement and the Supplements. 

ARTICLE VIII 

Final Distributions 

Section 8.01.       Sale of Receivables or Certificateholders’ Interest pursuant
to Section 2.06 or 10.01 of the
Agreement and Section 7.01 or 7.02 of this Supplement. 

(a)      (i)          The amount to be paid
by the Transferors with respect to Series 2018-3 in connection with a reassignment of Receivables to the Transferors pursuant to Section 2.06 of the Agreement shall equal the Reassignment Amount for the
first Distribution Date following the Monthly Period in which the reassignment obligation arises under the Agreement. 

(ii)          The amount to be paid by the Transferors with
respect to Series 2018-3 in connection with a repurchase of the Certificateholders’ Interest pursuant to Section 10.01 of the Agreement shall equal the sum of (x) the Reassignment Amount for the
Distribution Date of such repurchase and (y) the sum of (A) the excess, if any, of (I) a price equivalent to the average of bids quoted on the Record Date preceding the date of repurchase or, if not a Business Day, on the next
succeeding Business Day by at least two recognized dealers selected by the Trustee for the purchase by such dealers of a security which is similar to the Class A Certificates with a remaining maturity approximately equal to the remaining
maturity of the Class A Certificates and rated by each Rating Agency in the rating category originally assigned to the Class A Certificates over (II) the portion of the Reassignment Amount attributable to the Class A Certificates
and (B) the excess, if any, of (I) a price equivalent to the average of bids quoted on such Record Date, or if not a Business Day, on the next succeeding Business Day by at least two 

  
 36 

 
recognized dealers selected by the Trustee for the purchase by such dealers of a security which is similar to the Class B Certificates with a remaining maturity approximately equal to the
remaining maturity of the Class B Certificates and rated by each Rating Agency in the rating category originally assigned to the Class B Certificates over (II) the portion of the Reassignment Amount attributable to the Class B
Certificates. 
 (b)      With respect to the Reassignment Amount deposited into the
Collection Account pursuant to Section 7.01 or any amounts allocable to the Series 2018-3 Certificateholders’ Interest deposited into the Collection Account pursuant to Section 7.02, the Trustee
shall, in accordance with the written direction of the Servicer, not later than 12:00 noon, New York City time, on the related Distribution Date, make deposits or distributions of the following amounts (in the priority set forth below and, in each
case after giving effect to any deposits and distributions otherwise to be made on such date) in immediately available funds: (i) (x) the Class A Invested Amount on such Distribution Date will be distributed to the Paying Agent for payment
to the Class A Certificateholders and (y) an amount equal to the sum of (A) Class A Monthly Interest for such Distribution Date, (B) any Class A Monthly Interest previously due but not distributed to the Class A
Certificateholders on a prior Distribution Date and (C) the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A
Certificateholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class A Certificateholders, (ii) (x) the Class B Invested Amount on such Distribution Date will be distributed to the Paying
Agent for payment to the Class B Certificateholders and (y) an amount equal to the sum of (A) Class B Monthly Interest for such Distribution Date, (B) any Class B Monthly Interest previously due but not distributed to
the Class B Certificateholders on a prior Distribution Date and (C) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to the
Class B Certificateholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class B Certificateholders and (iii) the balance, if any, will be distributed to the Collateral Interest Holder.

 (c)      Notwithstanding anything to the contrary in this Supplement or the Agreement, all
amounts distributed to the Paying Agent pursuant to subsection 8.01(b) for payment to the Series 2018-3 Certificateholders shall be deemed distributed in full to the Series
2018-3 Certificateholders on the date on which such funds are distributed to the Paying Agent pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 12.02 of the
Agreement. 
 Section 8.02.      Distribution of Proceeds of Sale, Disposition or
Liquidation of the Receivables pursuant to Section 9.01 of the Agreement. 

(a)      Not later than 12:00 noon, New York City time, on the Distribution Date following the
date on which the Insolvency Proceeds are deposited into the Collection Account pursuant to subsection 9.01(b) of the Agreement, the Trustee shall in accordance with the written direction of the Servicer (in the following priority and, in each case,
after giving effect to any deposits and distributions otherwise to be made on such Distribution Date) (i) deduct an amount equal to the Class A Invested Amount on such Distribution Date from the portion of the Insolvency Proceeds allocated
to Series 2018-3 Allocable Principal Collections and distribute such amount to the Paying Agent for payment to the Class A Certificateholders, provided that the amount of such distribution shall not
exceed the product of (x) the portion of the Insolvency Proceeds allocated to Series 2018-3 Allocable Principal Collections and (y) the Principal Allocation Percentage with respect to the related
Monthly Period, (ii) deduct an amount equal to the Class B Invested Amount on such Distribution Date from the portion of the Insolvency Proceeds allocated to Series 2018-3 Allocable Principal
Collections and distribute such amount to the Paying Agent for payment to the Class B Certificateholders, provided that the amount of such distribution shall not exceed (x) the product of (A) the portion of such Insolvency Proceeds
allocated to Series 2018-3 Allocable Principal Collections and (B) the Principal Allocation Percentage with respect to the related Monthly Period minus (y) the amount distributed to the Paying
Agent pursuant to clause (i) of this 

  
 37 

 
sentence and (iii) distribute the remaining amount of the Insolvency Proceeds to the Collateral Interest Holder. 

(b)      Not later than 12:00 noon, New York City time, on such Distribution Date, the Trustee
shall in accordance with the written direction of the Servicer (in the following priority and, in each case, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date) (i) deduct an amount equal to the
sum of (w) Class A Monthly Interest for such Distribution Date, (x) any Class A Monthly Interest previously due but not distributed to the Class A Certificateholders on a prior Distribution Date and (y) the amount of
Class A Additional Interest, if any, for such Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A Certificateholders on a prior Distribution Date from the portion of the Insolvency
Proceeds allocated to Collections of Finance Charge Receivables and distribute such amount to the Paying Agent for payment to the Class A Certificateholders, provided that the amount of such distribution shall not exceed the product of
(x) the portion of the Insolvency Proceeds allocated to Series 2018-3 Allocable Finance Charge Collections, (y) the Floating Allocation Percentage with respect to the related Monthly Period and
(z) the Class A Floating Percentage with respect to such Monthly Period and (ii) deduct an amount equal to the sum of (w) Class B Monthly Interest for such Distribution Date, (x) Class B Monthly Interest previously
due but not distributed to the Class B Certificateholders on a prior Distribution Date and (y) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but
not distributed to the Class B Certificateholders on a prior Distribution Date from the portion of the Insolvency Proceeds allocated to Series 2018-3 Allocable Finance Charge Collections and distribute
such amount to the Paying Agent for payment to the Class B Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency Proceeds allocated to Series 2018-3 Allocable Finance Charge Collections, (y) the Floating Allocation Percentage with respect to the related Monthly Period and (z) the Class B Floating Percentage with respect to such Monthly
Period. To the extent that the product of (A) the portion of the Insolvency Proceeds allocated to Series 2018-3 Allocable Finance Charge Collections and (B) the Floating Allocation Percentage with
respect to the related Monthly Period exceeds the aggregate amount distributed to the Paying Agent pursuant to the preceding sentence, the excess shall be distributed to the Collateral Interest Holder. 

(c)      Notwithstanding anything to the contrary in this Supplement or the Agreement, all
amounts distributed to the Paying Agent pursuant to this Section for payment to the Series 2018-3 Certificateholders shall be distributed in full to the Series 2018-3
Certificateholders on the date on which funds are distributed to the Paying Agent pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 12.02 of the Agreement. 

ARTICLE IX 

Miscellaneous Provisions 

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

Section 9.02.      Counterparts. This Supplement may be executed in two or more
counterparts, and by different parties on separate counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. 

Section 9.03.      Governing Law. THIS SUPPLEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 38 

 Section 9.04.      [Reserved]. 

Section 9.05.      FATCA Matters. 

Each Certificate Owner and Series 2018-3 Certificateholder, by the purchase of a
Certificate or its acceptance of a beneficial interest therein, acknowledges that interest on the Certificates will be treated as United States source interest, and, as such, United States withholding tax may apply. Each such Certificate Owner and
Series 2018-3 Certificateholder further agrees, upon request, to provide any certifications that may be required under applicable law, regulations or procedures to evidence such status and understands that if
it ceases to satisfy the foregoing requirements or provide requested documentation, payments to it under the Certificates may be subject to United States withholding tax (without any corresponding gross-up).
Without limiting the foregoing, if a payment made under this Supplement would be subject to United States federal withholding tax imposed by FATCA if the recipient of such payment were to fail to comply with FATCA (including the requirements of Code
Sections 1471(b) or 1472(b), as applicable), such recipient shall deliver to the Transferors and the Trustee, at the time or times prescribed by the Code and at such time or times reasonably requested by the Transferors or the Trustee, such
documentation prescribed by the Code (including as prescribed by Code Section 1471(b)(3)(C)(i)) and such additional documentation reasonably requested by the Transferors or the Trustee to comply with their respective obligations under FATCA, to
determine that such recipient has complied with such recipient’s obligations under FATCA, or to determine the amount to deduct and withhold from such payment. In addition, the Transferors shall deliver to the Trustee, at the time or times
prescribed by the Code and at such time or times reasonably requested by the Trustee, such documentation prescribed by the Code (including as prescribed by Code Section 1471(b)(3)(C)(i)) and such additional documentation reasonably requested by
the Trustee to comply with its obligations under FATCA, and the Transferors understand that failure to provide such documentation may result in payments being subject to United States withholding tax. The Trustee shall be entitled to deduct
withholding tax imposed pursuant to FATCA, and shall have no obligation to gross up any payment or to pay any additional amount as a result of such withholding tax. For these purposes, “FATCA” means Section 1471 through 1474 of the
Code and any regulations or official interpretations thereof (including any revenue ruling, revenue procedure, notice or similar guidance issued by the U.S. Internal Revenue Service thereunder as a precondition to relief or exemption from taxes
under such Sections, regulations and interpretations), any agreements entered into pursuant to Code Section 1471(b)(1), and including any amendments made to FATCA after the date of this Supplement. 

Section 9.06.      Uncertificated Securities. The Collateral Interest shall be
delivered in uncertificated form. 
 Section 9.07.      Transfers of the Collateral
Interest. 
 (a)      Unless otherwise consented to by the Transferors, no portion of the
Collateral Interest or any interest therein may be sold, conveyed, assigned, hypothecated, pledged, participated, exchanged or otherwise transferred (each, a “Transfer”) except in accordance with this Section 9.07 and only to a
Permitted Assignee. Any attempted or purported transfer, assignment, exchange, conveyance, pledge, hypothecation or grant other than to a Permitted Assignee shall be void. Unless otherwise consented to by the Transferors, no portion of the
Collateral Interest or any interest therein may be Transferred to any Person (each such Person acquiring the Collateral Interest or any interest therein, an “Assignee”) unless such Assignee shall have executed and delivered to the
Transferors on or before the effective date of any Transfer a letter substantially in the form attached hereto as Exhibit E (an “Investment Letter”), executed by such Assignee, with respect to the related Transfer to such
Assignee of all or a portion of the Collateral Interest. 
 (b)      Each Assignee will
certify that the Collateral Interest or the interest therein purchased by such Assignee will be acquired for investment only and not with a view to any public 

  
 39 

 
distribution thereof, and that such Assignee will not offer to sell or otherwise dispose of the Collateral Interest or any interest therein so acquired by it in violation of any of the
registration requirements of the Securities Act, or any applicable state or other securities laws. Each Assignee will acknowledge and agree that (i) it has no right to require the Transferors to register under the Securities Act or any other
securities law the Collateral Interest or the interest therein to be acquired by the Assignee and (ii) the sale of the Collateral Interest is not being made by means of the prospectus prepared in connection with the sale of the Series 2018-3 Certificates. Each Assignee will agree with the Transferors that: (a) such Assignee will deliver to the Transferors an Investment Letter and (b) all of the statements made by such Assignee in its
Investment Letter shall be true and correct as of the date made. 
 (c)      No portion of
the Collateral Interest or any interest therein may be Transferred to, and each Assignee will certify that it is not, (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA and subject to Title I of ERISA), (b) any
“plan” (as defined in and subject to Section 4975 of the Code) including individual retirement accounts and Keogh plans, or (c) any other entity whose underlying assets include “plan assets” (within the meaning of U.S.
Department of Labor Regulation Section 2510.3-101, 29 C.F.R. § 2510.3-101, as modified by Section 3(42) of ERISA) by reason of a plan’s investment in
the entity, including, without limitation, an insurance company general account. 
  
  

[The signature page follows this page.] 

  
 40 

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

			
	AMERICAN EXPRESS RECEIVABLES
		 	 FINANCING CORPORATION III LLC,

		 	 as a Transferor

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES
	 FINANCING CORPORATION IV LLC,

	 as a Transferor

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 AMERICAN EXPRESS TRAVEL RELATED

SERVICES COMPANY, INC.,

	 as the Servicer

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 THE BANK OF NEW YORK MELLON,

	 as Trustee

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
  
  

[Signature page – Series 2018-3 Supplement] 

					
		 	FORM OF CLASS A CERTIFICATE	  	EXHIBIT A-1

  

			
	 REGISTERED
	  	$                    
1 /
		
	 No. R-                
	  	CUSIP No. 02582J HS2

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

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2018-3 

CLASS A FLOATING RATE ASSET BACKED CERTIFICATE 

Expected Final Payment Date: 
 The
March 2023 Distribution Date 
 Each $100,000 minimum denomination represents a 

1/5,000ths undivided interest 
 in
Class A of the 
 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 2018-3 

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

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

 

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

  
 A-1-1 

 
otherwise amended and supplemented, the “Agreement”), as supplemented by the Series 2018-3 Supplement, dated as of March 21, 2018 (as
amended and supplemented, the “Supplement”), among American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the
“Transferors”), American Express Travel Related Services Company, Inc., as servicer, and The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). The corpus of the Trust consists of
(i) the Transferors’ ownership interest in a portfolio of receivables (the “Receivables”) existing in credit and charge accounts identified under the Agreement from time to time (the “Accounts”), (ii) all
Receivables generated under the Accounts from time to time thereafter, (iii) funds collected or to be collected from cardmembers in respect of the Receivables, (iv) all funds which are from time to time on deposit in the Collection
Account, the Special Funding Account and any other Series Accounts and (v) all other assets and interests constituting the Trust. The Holder of this Certificate is entitled to the benefits of the subordination of the Class B Certificates
and the Collateral Interest to the extent provided in the Supplement. Although a summary of certain provisions of the Agreement and the Supplement is set forth below and in the Summary of Terms and Conditions attached hereto and made a part hereof,
this Class A Certificate does not purport to summarize the Agreement and the Supplement and reference is made to the Agreement and the Supplement for information with respect to the interests, rights, benefits, obligations, proceeds and duties
evidenced hereby and the rights, duties and obligations of the Trustee. A copy of the Agreement and the Supplement (without schedules) may be requested from the Trustee by writing to the Trustee at the Corporate Trust Office. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to them in the Agreement or the Supplement, as applicable. 

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

It is the intent of the Transferors and the Class A Certificateholder that, for federal, state and local income and
franchise tax purposes, the Class A Certificates will qualify as indebtedness of the Transferors secured by the Receivables. The Class A Certificateholder, by the acceptance of this Class A Certificate, agrees to treat this
Class A Certificate for federal, state and local income and franchise tax purposes as debt of the Transferors. 
 In
general, payments of principal with respect to the Class A Certificates are limited to the Class A Invested Amount, which may be less than the unpaid principal balance of the Class A Certificates. The Expected Final Payment Date is
the March 2023 Distribution Date, but principal with respect to the Class A Certificates may be paid earlier or later under certain circumstances described in the Agreement and the Supplement. If for one or more months during the Controlled
Accumulation Period there are not sufficient funds to pay the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such
shortfalls, the final payment of principal of the Class A Certificates will occur later than the Expected Final Payment Date. 

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

  
 A-1-2 

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

			
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Dated: March 21, 2018 

  
 A-1-3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the American Express Credit Account Master Trust Series 2018-3 Class A
Certificates described in the within-mentioned Agreement and Supplement. 
  

			
	 THE BANK OF NEW YORK MELLON,

	 as Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

		
		 	 or

		
	 By:
	 	  

		 	 as Authenticating Agent

		 	 for the Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

  
 A-1-4 

 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2018-3 

CLASS A FLOATING RATE ASSET BACKED CERTIFICATE 

Summary of Terms and Conditions 

The Receivables consist of Principal Receivables which arise generally from the purchase of goods and services and amounts
advanced to cardmembers as cash advances and Finance Charge Receivables. This Class A Certificate is one of a Series of Certificates entitled American Express Credit Account Master Trust, Series 2018-3
(the “Series 2018-3 Certificates”), and one of a class thereof entitled Class A Series 2018-3 Floating Rate Asset Backed Certificates (the
“Class A Certificates”), each of which represents a fractional, undivided interest in certain assets of the Trust. The assets of the Trust are allocated in part to the investor certificateholders of all
outstanding Series (the “Certificateholders’ Interest”) with the remainder allocated to the Holders of the Transferor Certificates. The aggregate interest represented by the Class A Certificates at any time in the
Principal Receivables in the Trust shall not exceed an amount equal to the Class A Invested Amount at such time. The Class A Initial Invested Amount is $500,000,000. The Class A Invested Amount on any date will be an amount equal to
(a) the Class A Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class A Certificateholder on or prior to such date, minus (c) the excess, if any, of the aggregate
amount of Class A Investor Charge-Offs for all prior Distribution Dates over Class A Investor Charge-Offs reimbursed pursuant to subsection 4.07(b) of the Supplement prior to such date. 

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

On each Distribution Date, the Paying Agent shall distribute to each Class A Certificateholder of record on the last day
of the preceding calendar month (each a “Record Date”) such Class A Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal Funding Account) as are
payable to the Class A Certificateholder pursuant to the Agreement and the Supplement. Distributions with respect to this Class A Certificate will be made by the Paying Agent by check mailed to the address of the Class A
Certificateholder of record appearing in the Certificate Register without the presentation or surrender of this Class A Certificate or the making of any notation thereon (except for the final distribution in respect of this Class A
Certificate) except that with respect to Class A Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final payment of
this Class A Certificate will be made only upon presentation and surrender of this Class A Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Series 2018-3 Certificateholders in accordance with the Agreement and the Supplement. 
 On any
day occurring on or after the day on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, the Transferors have the option to repurchase the Series 2018-3 Certificateholders’
Interest in the Trust. The repurchase price will be equal to (a) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (b) if such day is not a Distribution Date, the Reassignment Amount for the
Distribution Date following such day. Following the deposit of the Reassignment Amount in the Collection Account, Series 2018-3 Certificateholders will not have any interest in the Receivables and the Series 2018-3 Certificates will represent only the right to receive such Reassignment Amount. 

  
 A-1-5 

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

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

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

The Servicer, the Transferors, the Trustee, the Paying Agent and the Transfer Agent and Registrar and any agent of any of
them, may treat the person in whose name this Class A Certificate is registered as the owner hereof for all purposes, and none of the Servicer, the Transferors, the Trustee, the Paying Agent, the Transfer Agent and Registrar, or any agent of
any of them, shall be affected by notice to the contrary except in certain circumstances described in the Agreement. 

THIS CLASS A CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 A-1-6 

 ASSIGNMENT 

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

			
	 Dated: ______________
	  	   ________________________2/

		
		  	Signature Guaranteed:
		
		  	                                      
          

  
  
  

 
  

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

  
 A-1-7 

					
		  	FORM OF CLASS B CERTIFICATE	  	EXHIBIT A-2

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

			
	 REGISTERED
	  	$                    3/
		
	 No. R-            
	  	CUSIP No. 02582J HT0

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

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2018-3 

CLASS B FLOATING RATE ASSET BACKED CERTIFICATE 

Expected Final Payment Date: 
 The
March 2023 Distribution Date 
 Each $100,000 minimum denomination represents a 

1/18679/100ths undivided interest 
 in Class B of the 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 2018-3 

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

American Express Centurion Bank, American Express Bank, FSB, American Express Receivables 

 
  

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

  
 A-2-1 

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

This certifies that CEDE & CO. (the “Class B Certificateholder”) is the registered owner of a
fractional, undivided interest in certain assets of a trust (the “Trust”) created pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and otherwise
amended and supplemented, the “Agreement”), as supplemented by the Series 2018-3 Supplement, dated as of March 21, 2018 (as amended and supplemented, the “Supplement”),
among American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the “Transferors”), American Express Travel Related Services Company, Inc., as
servicer, and The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). The corpus of the Trust consists of (i) the Transferors’ ownership interest in a portfolio of receivables (the
“Receivables”) existing in credit and charge accounts identified under the Agreement from time to time (the “Accounts”), (ii) all Receivables generated under the Accounts from time to time thereafter,
(iii) funds collected or to be collected from cardmembers in respect of the Receivables, (iv) all funds which are from time to time on deposit in the Collection Account, the Special Funding Account, and any other Series Accounts and
(v) all other assets and interests constituting the Trust. Although a summary of certain provisions of the Agreement and the Supplement is set forth below and in the Summary of Terms and Conditions attached hereto and made a part hereof, this
Class B Certificate does not purport to summarize the Agreement and the Supplement and reference is made to the Agreement and the Supplement for information with respect to the interests, rights, benefits, obligations, proceeds and duties
evidenced hereby and the rights, duties and obligations of the Trustee. A copy of the Agreement and the Supplement (without schedules) may be requested from the Trustee by writing to the Trustee at the Corporate Trust Office. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to them in the Agreement or the Supplement, as applicable. 

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

No Class B Certificate may be acquired by or for the account of any employee benefit plan, trust or account, including
an individual retirement account, that is subject to the Employee Retirement Income Security Act of 1974, as amended, or that is described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended, or an entity whose underlying
assets include plan assets by reason of a plan’s investment in such entity (a “Benefit Plan”), unless (i) such acquirer or holder is an insurance company, (ii) the source of funds used to acquire or hold such Certificate (or
interest therein) is an “insurance company general account” (as defined in U.S. Department of Labor Prohibited Transaction Class Exemption (“PTCE”) 95-60), and (iii) the
conditions set forth in Sections I and III of PTCE 95-60 have been satisfied. By acquiring any interest in this Class B Certificate, each applicable Certificate Owner shall be deemed to have represented
and warranted either (i) that it is not a Benefit Plan and is not acting for the account of any Benefit Plan or (ii) that (1) it is an insurance company, (2) the source of funds used to acquire or hold an interest in such Certificate
is an “insurance company general account” (as such term is defined in PTCE 95-60), and (3) the conditions set forth in Sections I and III of PTCE 95-60
have been satisfied. 
 THIS CLASS B CERTIFICATE IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS ON THE CLASS A
CERTIFICATES TO THE EXTENT SPECIFIED IN THE SUPPLEMENT. 

  
 A-2-2 

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

In general, payments of principal with respect to the Class B Certificates are limited to the Class B Invested
Amount, which may be less than the unpaid principal balance of the Class B Certificates. The Expected Final Payment Date is the March 2023 Distribution Date, but principal with respect to the Class B Certificates may be paid earlier or
later under certain circumstances described in the Agreement and the Supplement. If for one or more months during the Controlled Accumulation Period there are not sufficient funds to pay the Controlled Deposit Amount, then to the extent that excess
funds are not available on subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of principal of the Class B Certificates will occur later than the Expected Final
Payment Date. 
 Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee, by
manual signature, this Class B Certificate shall not be entitled to any benefit under the Agreement or the Supplement or be valid for any purpose. 

  
 A-2-3 

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

			
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Dated: March 21, 2018 

  
 A-2-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the American Express Credit Account Master Trust Series 2018-3
Class B Certificates described in the within mentioned Agreement and Supplement. 
  

			
	 THE BANK OF NEW YORK MELLON,

	 as Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

		
	 or
	 	
		
	 By:
	 	  

		 	 as Authenticating Agent

		 	 for the Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

  
 A-2-5 

 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2018-3 

CLASS B FLOATING RATE ASSET BACKED CERTIFICATE 

Summary of Terms and Conditions 

The Receivables consist of Principal Receivables which arise generally from the purchase of goods and services and amounts
advanced to cardmembers as cash advances and Finance Charge Receivables. This Class B Certificate is one of a Series of Certificates entitled American Express Credit Account Master Trust, Series 2018-3
(the “Series 2018-3 Certificates”), and one of a class thereof entitled Class B Series 2018-3 Floating Rate Asset Backed Certificates (the
“Class B Certificates”), each of which represents a fractional, undivided interest in certain assets of the Trust. The assets of the Trust are allocated in part to the investor certificateholders of all
outstanding Series (the “Certificateholders’ Interest”) with the remainder allocated to the Holders of the Transferor Certificates. The aggregate interest represented by the Class B Certificates at any time in the
Principal Receivables in the Trust shall not exceed an amount equal to the Class B Invested Amount at such time. The Class B Initial Invested Amount is $18,679,000. The Class B Invested Amount on any date will be an amount equal to
(a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholder on or prior to such date, minus (c) the excess, if any, of the aggregate
amount of Class B Investor Charge-Offs for all prior Distribution Dates over Class B Investor Charge-Offs reimbursed, minus (d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant
to subsection 4.08(a) of the Supplement (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which
the Class B Invested Amount has been reduced to cover the Class A Investor Default Amount on all prior Distribution Dates, and plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 2018-3 and applied on all prior Distribution Dates for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested Amount
may not be reduced below zero. 
 Subject to the terms and conditions of the Agreement, the Transferors may, from time to
time, direct the Trustee, on behalf of the Trust, to issue one or more new Series of Investor Certificates, which will represent fractional, undivided interests in certain of the Trust Assets. 

On each Distribution Date, the Paying Agent shall distribute to each Class B Certificateholder of record on the last day
of the preceding calendar month (each a “Record Date”) such Class B Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal Funding Account) as are
payable to the Class B Certificateholder pursuant to the Agreement and the Supplement. Distributions with respect to this Class B Certificate will be made by the Paying Agent by check mailed to the address of the Class B
Certificateholder of record appearing in the Certificate Register without the presentation or surrender of this Class B Certificate or the making of any notation thereon (except for the final distribution in respect of this Class B
Certificate) except that with respect to Class B Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final payment of
this Class B Certificate will be made only upon presentation and surrender of this Class B Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Series 2018-3 Certificateholders in accordance with the Agreement and the Supplement. 
 On any
day occurring on or after the day on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, the Transferors have the option to repurchase the Series 2018-3

  
 A-2-6 

 
Certificateholders’ Interest in the Trust. The repurchase price will be equal to (a) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or
(b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date next following such day. Following the deposit of the Reassignment Amount in the Collection Account, Series
2018-3 Certificateholders will not have any interest in the Receivables and the Series 2018-3 Certificates will represent only the right to receive such Reassignment
Amount. 
 This Class B Certificate does not represent an obligation of, or an interest in, the Transferors or the
Servicer or any affiliate of any of them and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or instrumentality. This Class B Certificate is limited in right of payment to certain
Collections with respect to the Receivables (and certain other amounts), all as more specifically set forth hereinabove and in the Agreement and the Supplement. 

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

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

The Servicer, the Transferors, the Trustee, the Paying Agent and the Transfer Agent and Registrar and any agent of any of
them, may treat the person in whose name this Class B Certificate is registered as the owner hereof for all purposes, and none of the Servicer, the Transferors, the Trustee, the Paying Agent, the Transfer Agent and Registrar, or any agent of
any of them, shall be affected by notice to the contrary except in certain circumstances described in the Agreement. 

THIS CLASS B CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 A-2-7 

 ASSIGNMENT 

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

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

			
	 Dated: ______________
	  	
  ________________________4/

		
		  	Signature Guaranteed:
		
		  	                                      
          

  
  
  

 
  

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

  
 A-2-8 

 EXHIBIT B 

FORM OF MONTHLY PAYMENT INSTRUCTIONS AND 

NOTIFICATION TO THE TRUSTEE 
  

 
  

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2018-3 
  

 

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc.
(“TRS”), as Servicer pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and as otherwise amended and supplemented, the “Pooling and Servicing
Agreement”), among TRS, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the “Transferors”), and The Bank of New York Mellon
(formerly The Bank of New York), as trustee (the “Trustee”), does hereby certify as follows: 

1.      Capitalized terms used in this Certificate have their respective meanings set forth in
the Pooling and Servicing Agreement or the Series 2018-3 Supplement, dated as of March 21, 2018, among TRS, the Transferors and the Trustee (as amended and supplemented, the
“Supplement”), as applicable. 
 2.      TRS is the Servicer. 

3.      The undersigned is a Servicing Officer. 

I.      INSTRUCTION TO MAKE A WITHDRAWAL 

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

  

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

  
 B-1 

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

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

  
 B-2 

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

 

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

 Pursuant to Section 4.07, the Servicer does hereby instruct the Trustee to apply on
                , which is a Distribution Date under the Supplement, any Excess Spread and Excess Finance Charge Collections allocated to
Series 2018-3 as follows: 
  

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

  
 B-3 

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

  
 B-4 

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

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

II.      INSTRUCTION TO MAKE CERTAIN PAYMENTS 

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

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

  
 B-5 

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

 III.      ACCRUED AND UNPAID AMOUNTS 

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

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

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

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

		 	 Name:

		 	 Title:

  
 B-6 

 EXHIBIT C-1 

FORM OF MONTHLY STATEMENT 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 
  

							
	A. TRUST ACTIVITY	  	TRUST TOTALS          	  	 	  	 
	Record Date	  	 	  	 	  	 
	Number of days in Monthly Period	  	 	  	 	  	 
	Beginning Number of Accounts	  	 	  	 	  	 
	Beginning Principal Receivable Balance, including any Additions, Removals, or Adjustments of Principal Receivables during the Monthly Period	  	 $________

 
	  	 	  	 
	    a.  Addition of Principal Receivables	  	$________	  	 	  	 
	    b.  Removal of Principal Receivables	  	$________	  	 	  	 
	    c.  Adjustments to Principal Receivables	  	$________	  	 	  	 
	Special Funding Account Balance	  	$________	  	 	  	 
	Beginning Total Principal Balance	  	$________	  	 	  	 
	Finance Charge Collections (excluding Recoveries)	  	$________	  	 	  	 
	Collections of Discount Option Receivables	  	$________	  	 	  	 
	Recoveries	  	$________	  	 	  	 
	Total Collections of Finance Charge Receivables	  	$________	  	                     
   	  	                  
  
	Total Collections of Principal Receivables	  	$________	  	 	  	 
	Monthly Payment Rate	  	________%	  	 	  	 
	Defaulted Amount	  	$________	  	 	  	 
	Annualized Default Rate	  	________%	  	 	  	 
	Annualized Default Rate, Net of Recoveries	  	________%	  	 	  	 
	Trust Portfolio Yield	  	________%	  	 	  	 
	New Principal Receivables	  	$________	  	 	  	 
	Ending Number of Accounts	  	_________	  	 	  	 
	Ending Principal Receivables Balance	  	$________	  	 	  	 
	Ending Required Minimum Principal Balance	  	$________	  	 	  	 
	Ending Transferor Amount	  	$________	  	 	  	 
	Ending Special Funding Account Balance	  	$________	  	 	  	 
	Ending Total Principal Balance	  	$________	  	 	  	 
	Ending Total Receivables	  	$________	  	 	  	 

  
 C-1-1 

																			
	B SERIES ALLOCATIONS
	 
	 	 	Invested Amount	 	Adjusted Invested Amount	 	Principal   Funding Account Balance	 	Series Required Transferor   Amount	 	Series Allocation Percentage  	 	Series Allocable Finance Charge Collections  	 	Series Allocable Recoveries  	 	Series Allocable Principal Collections  	 	Series Allocable Defaulted   Amount
	 Group         
	 	 $________
	 	 $______
	 	 $______
	 	 $______
	 	 ______%
	 	 $______
	 	 $______
	 	 $______
	 	
$______

	 Other
	 	 $________
	 	 $______
	 	 $______
	 	 $______
	 	 ______%
	 	 $______
	 	 $______
	 	 $______
	 	
$______

	 Total
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Trust
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  

																					
	C. GROUP ALLOCATIONS (1)
	 	 	Invested   Amount	 	Investor Finance Charge Collections  	 	Investor Monthly Interest	 	Investor Default Amount	 	Investor   Monthly Fees	 	Investor Additional   Amounts	 	Total  	 	Reallocated   Investor Finance Charge Collections	 	Investment   Funding Account Proceeds	 	Available Excess
	Group ___	 	$______	 	$_______	 	$_______	 	$_______	 	$_______	 	$_______	 	$____	 	$________	 	$________	 	$________
	Total	 	$______	 	$_______	 	$_______	 	$_______	 	$_______	 	$_______	 	$____	 	$________	 	$________	 	$________
	Trust Total	 	$______	 	$_______	 	$_______	 	$_______	 	$_______	 	$_______	 	$____	 	$________	 	$________	 	$________

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

  

											
	D. TRUST PERFORMANCE
	Delinquencies        	  	 	  	Dollar Amount  	  	Percentage of  
Ending Total
Receivables	  	Number of  
Accounts	  	Percentage of

Total Number  of Accounts

	 	  	31-60 Days Delinquent	  	$_________	  	_________%	  	_________	  	_________%
	 	  	61-90 Days Delinquent	  	$_________	  	_________%	  	_________	  	_________%
	 	  	91-120 Days Delinquent	  	$_________	  	_________%	  	_________	  	_________%
	 	  	120+ Days Delinquent	  	$_________	  	_________%	  	_________	  	_________%
	 	  	Total 30+ Days Delinquent	  	$_________	  	_________%	  	_________	  	_________%
	 
	Loss Experience:
	 	  	Ending Principal Receivables Balance	  	_________
	 	  	Defaulted Amount	  	_________
	 	  	Recoveries	  	_________
	 	  	Net Default Amount	  	_________
	 	  	Annualized Default Rate	  	_________%

  
 C-1-2 

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

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

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

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

	 
	    
	G. INVESTOR COMMUNICATION
	Information required by Item 1121(e) of Regulation AB concerning the Trust:
	 [No activity to report for reporting
period.]
 [On [_________], 20[__], [______] received a request from [______] expressing an interest in communicating with other
investors with regard to the possible exercise of rights under [TRANSACTION AGREEMENT]. The requesting investor may be contacted at:
 [ADDRESS]

[PHONE NUMBER]

[EMAIL]]

									
	H. CREDIT RISK RETENTION	  	As of the last day of Monthly Period	  	As of the last day of Prior Monthly Period
	Required Seller’s Interest Amount	  	$________	  	$________
	Seller’s Interest Amount	  	$________	  	 
	Seller’s Interest Percentage	  	________%	  	________%

  
 C-1-3 

									
	 SERIES 2018-3
CERTIFICATES
  

	 A. INVESTOR/

TRANSFEROR
 ALLOCATIONS
	  	SERIES ALLOCATIONS	  	TOTAL INVESTOR INTEREST	  	TRANSFERORS’ INTEREST	  	 
	Beginning Invested Amount/Transferor Amount	  	$____________	  	$____________	  	$____________	  	 
	Beginning Adjusted Invested Amount	  	$____________	  	$____________	  	$____________	  	 
	Floating Allocation Percentage	  	_________%	  	_________%	  	_________%	  	 
	Principal Allocation Percentage	  	_________%	  	_________%	  	_________%	  	 
	Collections of Finance Charge Receivables	  	$____________	  	$____________	  	$____________	  	 
	Collections of Principal Receivables	  	$____________	  	$____________	  	$____________	  	 
	Defaulted Amount	  	$____________	  	$____________	  	$____________	  	 
	Ending Invested Amount/Transferor Amount	  	$____________	  	$____________	  	$____________	  	 
	 
	
    

	B. MONTHLY PERIOD FUNDING REQUIREMENTS	  	CLASS A	  	CLASS B	  	COLLATERAL INTEREST	  	TOTAL
	Principal Funding Account Balance	  	$____________	  	$____________	  	$____________	  	$____________
	Investment Proceeds for Monthly Period	  	$____________	  	$____________	  	$____________	  	$____________
	Required Reserve Account Amount	  	$____________	  	$____________	  	$____________	  	$____________
	Reserve Account Opening Balance	  	$____________	  	$____________	  	$____________	  	$____________
	Reserve Account Investment Proceeds retained per Section 4.12(b)	  	$____________	  	$____________	  	$____________	  	$____________
	Reserve Account Deposit	  	$____________	  	$____________	  	$____________	  	$____________
	Reserve Draw Amount	  	$____________	  	$____________	  	$____________	  	$____________
	Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)	  	$____________	  	$____________	  	$____________	  	$____________
	Reserve Account Closing Balance (after giving effect to any principal distributions and Reserve Account withdrawals on the related Distribution Date)	  	 $____________

 
	  	 $____________

 
	  	 $____________

 
	  	 $____________

 

	LIBOR Determination Date	  	____________	  	____________	  	____________	  	____________

  
 C-1-4 

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

  
 C-1-5 

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

  
 C-1-6 

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

  
 C-1-7 

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

  
 C-1-8 

							
	
J. APPLICATION OF REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS
	  	 
	 1. CLASS A AVAILABLE FUNDS
	 	 	  	$____________	  	 
	 a. Class A Monthly Interest
	 		  	$____________	  	 
	 b. Class A Outstanding Monthly
Interest
	 		  	$____________	  	 
	 c. Class A Additional
Interest
	 		  	$____________	  	 
	 d. Class A Investor Default Amount
(treated as 
	 		  	$____________	  	 
	     Available
Principal Collections)
	 		  	$____________	  	 
	 e. Excess Spread
	 		  	$____________	  	 
	 2. CLASS B AVAILABLE FUNDS
	 	 	  	$____________	  	 
	 a. Class B Monthly Interest
	 		  	$____________	  	 
	 b. Class B Outstanding Monthly
Interest
	 		  	$____________	  	 
	 c. Class B Additional
Interest
	 		  	$____________	  	 
	 d. Excess Spread
	 		  	$____________	  	 
	 3. COLLATERAL AVAILABLE FUNDS
	 	 	  	$____________	  	 
	 a. Excess Spread
	  	$____________	  	 
	
4. TOTAL EXCESS SPREAD
	  	$____________	  	 
	 	 	 
	 	  		  	 
	
K. REALLOCATED PRINCIPAL COLLECTIONS
	  	 
	 1.
Principal Allocation Percentage
	 	 	  	________%	  	 
	 2. Series
2018-3 Allocable Principal Collections
	 	 	  	$____________	  	 
	
3. Principal Allocation Percentage of Series

2018-3 Allocable Principal Collections
	 	 	  	$____________	  	 
	
4. Reallocated Principal Collections Required to fund the Required Amount
	 	 	  	$____________	  	 
	
5. Item 3 minus Item 4
	 	 	  	$____________	  	 
	
6. Shared Principal Collections from other Series allocated to Series
2018-3
	 	 	  	$____________	  	 
	 7. Other amounts treated as Available Principal
Collections
	 	 	  	$____________	  	 
	 8.
Available Principal Collections (total of items 5, 6 and 7)
	 	 	  	$____________	  	 
	 	 	 	 
	 	 		  		  	 
	 L.
APPLICATION OF AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING PERIOD

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

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

  
 C-1-9 

									
	
4. Treated as Shared Principal Collections
	 	 	  	$____________	  	 
	 	 		  		  	 
	 N.
APPLICATION OF EXCESS SPREAD AND EXCESS FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES 2018-3

	 1. Excess Spread
	 	 	  	$____________	  	 
	
2. Excess Finance Charge Collections
	 	 	  	$____________	  	 
	 3. Applied to fund
Class A Required Amount
	 	 	  	$____________	  	 
	
4. Class A Investor Charge-Offs treated as Available Principal Collections
	 	 	  	$____________	  	 
	 5. Applied to fund overdue
Class B Interest
	 	 	  	$____________	  	 
	
6. Applied to fund Class B Required Amount
	 	 	  	$____________	  	 
	 7. Reduction of Class B
Invested Amount treated as Available Principal Collections
	 	 	  	$____________	  	 
	
8. Applied to Collateral Senior Minimum Monthly
Interest
	 	 	  	$____________	  	 
	 9. Applied to unpaid Monthly
Servicing Fee
	 	 	  	$____________	  	 
	
10. Collateral Default Amount treated as Available
  Principal Collections
	 	 	  	$____________	  	 
	 11. Reduction of Collateral
Invested Amount treated as Available
  Principal Collections
	 	 	  	$____________	  	 
	
12. Deposited to Reserve Account
	 	 	  	$____________	  	 
	 13. Remaining Excess Spread
distributed to Collateral
  Interest Holder(s)
	 	 	  	$____________	  	 
	 	 	 	  	 	  	 
	 O. YIELD AND BASE
RATE
	  	 
	
1. Base Rate
	 	 	 	 	  	 	  	 
	 	 	 a. Current Monthly Period
	 	 	  	________%	  	 
	 	 	 b. Prior Monthly
Period
	 	 	  	________%	  	 
	 	 	 c. Second Prior Monthly Period
	 	 	  	________%	  	 
	
2. Three Month Average Base Rate
	 	 	 	 	  	________%	  	 
	 3. Series Adjusted Portfolio
Yield
	 		 	 	  	 	  	 
	 	 	 a. Current Monthly
Period
	 	 	  	________%	  	 
	 	 	 b. Prior Monthly Period
	 	 	  	________%	  	 
	 	 	 c. Second Prior Monthly
Period
	 	 	  	________%	  	 
	 4. Three
Month average Series Adjusted Portfolio Yield
	 	 	 	 	  	________%	  	 

  
 C-1-10 

									
	
5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
	 	 	 	 	  	[Yes/No]	  	 
	 				 
	 	 	 	 	 	  	 	  	 
	
P. REASSIGNMENT AMOUNT
	  	 
	 Adjusted Invested
Amount
	 	 	  	$____________	  	 
	
Monthly Interest
	 	 	  	$____________	  	 
	 Monthly Interest previously
due but not paid
	 	 	  	$____________	  	 
	
Additional Interest
	 	 	  	$____________	  	 
	
Additional Interest previously due but not paid
	 	 	  	$____________	  	 
	
Reassignment Amount
	 	 	  	$____________	  	 

  
 C-1-11 

 EXHIBIT C-2 

FORM OF ANNUAL PAYMENT INFORMATION 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 2018-3 

FOR THE YEAR ENDED DECEMBER 31, 20[_] 

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc. (“TRS”),
as Servicer pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and as otherwise amended and supplemented, the “Pooling and Servicing Agreement”), among TRS,
American Express Receivable Financing Corporation II, American Express Receivable Financing Corporation III LLC and American Express Receivable Financing Corporation IV LLC, as transferors (together, the “Transferors”) and The Bank of New
York Mellon, as trustee (the “Trustee”), does hereby certify as follows: 
 Capitalized terms used in this
Certificate have their respective meanings set forth in the Pooling and Servicing Agreement or the Series 2018-3 Supplement, dated as of March 21, 2018, among TRS, the Transferors and the Trustee (as
amended and supplemented, the “Supplement”), as applicable. 
 Pursuant to Section 5.01 of the Series
Supplement, the Servicer instructed the Trustee to pay in accordance with Section 5.01 from the Interest Funding Account or the Principal Funding Account, as applicable, the following aggregate amounts during the year ended December 31,
20[_]: 
  

					
			
	 A)        
	 	 Pursuant to subsection 5.01(a):
	 	
			
		 	 Interest distributed to Class A Certificateholders 
	 	 $             

			
	 B)
	 	 Pursuant to subsection 5.01(b):
	 	
			
		 	 On the Expected Final Payment Date or a Special Payment Date, if applicable, principal distributed to the Class A
Certificateholders 
	 	 $             

			
	 C)
	 	 Pursuant to subsection 5.01(c):
	 	
			
		 	 Interest distributed to Class B Certificateholders 
	 	 $             

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

			
	 E)
	 	 Pursuant to subsection 5.01(e):
	 	
			
		 	 Aggregate amount distributed to the Collateral Interest Holder in respect of interest 
	 	 $             

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

  
 C-2-1 

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

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

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 C-2-2 

 EXHIBIT D 

FORM OF MONTHLY SERVICER’S CERTIFICATE 

AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC. 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc., as Servicer
(“TRS”), pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016 (as amended and restated and as otherwise amended and supplemented, the “Agreement”), as
supplemented by the Series Supplements (as amended and supplemented, the “Series Supplements”), among TRS, as Servicer, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing
Corporation IV LLC, as Transferors, and The Bank of New York Mellon, as Trustee, does hereby certify as follows: 

1.      Capitalized terms used in this Certificate have their respective meanings as set forth
in the Agreement or the Series Supplement, as applicable. 
 2.      TRS is, as of the date
hereof, the Servicer under the Agreement. 
 3.      The undersigned is a Servicing Officer.

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

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

6.      As of the date hereof, to the best knowledge of the undersigned, no Pay Out Event
occurred on or prior to such Distribution Date. 
 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
Certificate this      day of                 , 20    . 

 

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

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 D-1 

 EXHIBIT E 

FORM OF INVESTMENT LETTER 
 [Date]

  

			
	 Re:
	  	 American Express Credit Account Master Trust;

		  	 Purchases of Series 2018-3 Collateral Interest

 Ladies and Gentlemen: 

This letter (the “Investment Letter”) is delivered by the undersigned (the “Purchaser”) pursuant to
Section 9.07 of the Series 2018-3 Supplement, dated as of March 21, 2018 (the “Series Supplement”) to Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20,
2016 (as amended and restated and as otherwise amended and supplemented, the “Agreement”), each among The Bank of New York Mellon, as Trustee, American Express Receivables Financing Corporation III LLC and American Express Receivables
Financing Corporation IV LLC, as Transferors, and American Express Travel Related Services Company, Inc., as Servicer. Capitalized terms used herein without definition shall have the meanings set forth in the Agreement. The Purchaser represents to
and agrees with the Transferors as follows: 
  

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

  

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

  

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

  
 E-1 

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

  

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

			
	
	 Very truly yours,

	
	 [NAME OF PURCHASER]

		
	 By:
	 	
                       
                         

		 	 Name:

		 	 Title:

  

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

			
		
	 By:
	 	
                       
                         

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC, as Transferor

			
		
	 By:
	 	
                       
                         

		 	 Name:

		 	 Title:

  
 E-2wstg_Ex10_6

		
			Exhibit 10.6
		

		
			 
		

		
			EMPLOYMENT AGREEMENT
		

		
			 
		

		
			This Employment Agreement (this “Agreement”) is entered into as of January 3rd, 2018 (the “Effective Date”) by and between Wayside Technology Group, Inc., a Delaware corporation (the “Company” or “Wayside”), and Dale Foster (the “Executive”).
		

		
			 
		

		
			WITNESSETH:
		

		
			 
		

		
			WHEREAS, the Company desires the employment of the Executive in accordance with the provisions of this Agreement; and
		

		
			 
		

		
			WHEREAS, the Executive desires and is willing to be employed by the Company in accordance with the provisions of this Agreement.
		

		
			 
		

		
			NOW THEREFORE, in consideration of the premises and mutual covenants contained herein, and intending to be legally bound, the parties agree as follows:
		

		
			 
		

		
			           Position and Term. On the terms and subject to the conditions set forth in this Agreement, the Company shall employ the Executive and the Executive shall serve the Company as “Executive Vice President”.
		

		
			 
		

		
			           Duties. The Executive’s duties shall be prescribed from time to time by the CEO and Board of Directors of the Company (the “Board”) and shall include such responsibilities as are customary for employees performing functions similar to those of the Executive. In addition, the Executive shall serve at no additional compensation in such executive capacity or capacities with respect to any subsidiary or affiliate of the Company to which he may be elected or appointed, provided that such duties are not inconsistent with those of an Executive Vice President. The Executive shall devote substantially all of the Executive’s time and attention to the performance of the Executive’s duties and responsibilities for and on behalf of the Company except as set forth herein or as may be consented to by the Company. Notwithstanding anything to the contrary herein, nothing in this Agreement shall preclude the Executive from: (i) serving as a member of the board of directors or advisory board (or their equivalents in the case of a non­corporate entity) of any (A) charitable or philanthropic organization; or (B) entity, including a business entity; (ii) engaging in charitable, community or philanthropic activities or any other activities; or (iii) serving as an executor, trustee or in a similar fiduciary capacity; provided, that the activities set out in the foregoing clauses shall be limited by the Executive so as not to affect, individually or in the aggregate, or interfere with the performance of the Executive’s duties and responsibilities hereunder, without the consent of the Company.
		

		
			 
		

		
			           Compensation. The Executive shall receive, for all services rendered to the Company pursuant to this Agreement, the following:
		

		
			 
		

		
			           Base Salary. The Employee shall be paid a base salary at the rate of Two Hundred Fifty thousand dollars ($250,000) per annum (the “Base Salary”). The Base Salary shall be payable in accordance with the Company’s then current general salary payment policies.
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			The Base Salary may be changed (but not decreased without the Employee’s consent) from time to time by a majority of the Board.
		

		
			 
		

		
			           Equity Compensation. After a positive three-month performance review as determined in good faith by the CEO and the Board, the Executive shall receive a restricted stock grant of 20,000 shares of common stock (the “Stock Award”) under the Company’s stock based compensation plan (the “2012 Plan”). The restricted stock grant shall vest in 16 equal quarterly installments. The Employee shall also receive a yearly bonus plan. If the Company shall establish any other incentive compensation plan or bonus plan, the Executive shall be eligible for awards under such plans in the sole discretion of the Board on the terms and subject to the conditions imposed by the Board. The unvested portion of the Stock Award shall be forfeited upon a termination of the Executive’s employment under Section 6(a) or by the Executive under Section 6(e). The unvested portion of the Stock Award shall automatically vest in full upon a termination of the Executive’s employment under Section 6(b),  6(c) or 6(d) or by the Company under Section 6(e).
		

		
			 
		

		
			           Benefits. The Executive and his “dependents,” as that term may be defined under the applicable benefit plan(s) of the Company, shall be included, to the extent eligible there under, in any and all standard benefit plans, programs and policies of the Company, which may include health care insurance (medical, dental and vision), long-term disability plans, life insurance, supplemental disability insurance, supplemental life insurance and a 401(k) plan (the “Benefits Plans”). The Executive acknowledges and agrees that the Benefits Plans may from time to time be modified by the Company as it deems necessary and appropriate.
		

		
			 
		

		
			           Deductions. The Company shall deduct and withhold from the Executive’s compensation all necessary or required taxes, including, but not limited to, social security, self-employment, withholding and otherwise, and any other amounts required by law or any taxing authority.
		

		
			 
		

		
			           Expenses. The Company shall reimburse the Executive for all reasonable out-of-pocket expenses incurred by the Executive in connection with the performance of the Executive’s duties and responsibilities hereunder, upon presentment of a valid receipt or other usual and customary documents evidencing such expenses. The Company will reimburse properly substantiated and timely submitted expenses no later than 30 days after the date the appropriate documentation is submitted by the Executive.
		

		
			 
		

		
			           Absences. The Executive shall be entitled to four (4) weeks paid vacation time per annum and such other time off in accordance with the Company’s current procedures and policies, as the same may be amended from time to time.
		

		
			 
		

		
			           Termination.
		

		
			 
		

		
			     For Cause. The Company may terminate the Executive’s employment at any time for Cause; provided that prior to a termination for Cause the Company shall provide the Executive with written notice of any such alleged breach and the Executive shall have thirty (30) days from the delivery of such notification to remedy the breach. “Cause” means (i) an act of
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			personal dishonesty in connection with the Executive’s responsibilities as an employee of the Company that is intended to result in a substantial personal enrichment of the Executive; (ii) a plea of guilty or nolo contendere to, or conviction of, a felony which the Board reasonably believes has had or will have a material detrimental effect on the Company’s reputation or business; (iii) a breach of any fiduciary duty owed to the Company that has a material detrimental effect on the Company’s reputation or business (except in the case of a personal disability) as determined in good faith by the CEO and the Board; or (iv) willful violations of the Executive’s obligations to the Company.
		

		
			 
		

		
			           Death. This Agreement will terminate automatically upon the death of the Executive.
		

		
			 
		

		
			           Disability. The Company may terminate the Executive’s  employment if the Executive suffers from a physical or mental disability. The Executive will only be deemed to have a physical or mental disability if the Executive is unable to perform the essential functions of his position, with reasonable accommodation, for a period of at least one hundred twenty (120) consecutive days because of a physical or mental impairment.
		

		
			 
		

		
			            Good Reason. The Executive shall be able to terminate this Agreement at any time for Good Reason. For purposes of this Agreement, “Good Reason” shall mean, with respect to the Executive, in each case to the extent not consented by the Executive, (i) a material violation of this Agreement or any other agreement between the Executive and the Company, by the Company or (ii) any assignment of duties to the Executive that would require an unreasonable amount of the Executive’s work time and that are duties which customarily would be discharged by persons junior or subordinate in status to the Executive within the Company as determined in good faith by the Executive and taking into consideration trends and customs in the market and industry in which the Company operates; provided that the Executive shall not have Good Reason unless the Executive shall have provided the Company written notice describing such violation in sufficiently reasonable detail for the Company to understand the breach alleged to have occurred, and the Company shall fail to cure such alleged breach within thirty (30) days after the Executive has provided the Company the required notice.
		

		
			 
		

		
			            Other Termination. Either party may terminate the Executive’s employment by providing to the other party at least thirty (30) days’ prior written notice, unless such basis for termination is governed by Section 6(a), 6(b),  6(c) or 6(d).
		

		
			 
		

		
			           Compensation in the Event of Termination. In the event that the Executive’s employment pursuant to this Agreement terminates for any reason or no reason, the Company shall pay to the Executive within thirty (30) days of such termination: (i) accrued and unpaid Base Salary in accordance with Section 3(a) plus accrued and unpaid amounts for any unused vacation days which have accrued (but not including any unused personal or sick days) and (ii) any unreimbursed expenses payable in accordance with Section 4.
		

		
			 
		

		
			           Severance. If the Company terminates the Executive’s employment at any time without Cause, or the Executive terminates employment with the Company for Good Reason, the Executive shall receive an amount equal to the Executive’s then current Base Salary
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			for six months (the “Severance Period”), less all applicable withholdings and deductions (the “Severance”), paid in equal installments beginning on the Company’s first regularly scheduled payroll date thereafter, and, if elected by the Executive in accordance with the election procedures in place at the time of termination, the Company shall, during the Severance Period, reimburse the Executive for COBRA continuation premiums for the Executive and the Executive’s covered qualified dependents.
		

		
			 
		

		
			     Assignment of Intellectual Property  Rights. In consideration of his employment, the Executive agrees to be bound by this Section 7.
		

		
			 
		

		
			     General. The Executive agrees to assign, and hereby assigns, to the Company all of his rights in any Inventions (as hereinafter defined) (including all Intellectual Property Rights (as hereinafter defined) therein or related thereto) that were previously or are made, conceived or reduced to practice, in whole or in part and whether alone or with others, by him during his employment by, or service with, the Company or which arise out of any activity conducted by, for or under the direction of the Company (whether or not conducted at the Company’s facilities, working hours or using any of the Company’s assets), or which are useful with, or relate directly or indirectly to, any Company Interest (as defined below). The Executive will promptly and fully disclose and provide all of the Inventions described above (the “Assigned Inventions”) to the Company.
		

		
			 
		

		
			     Assurances. The Executive hereby agrees, during the duration of his employment by the Company and thereafter, to further assist the Company, at the Company’s expense, to evidence, record and perfect the Company’s rights in and ownership of the Assigned Inventions, to perfect, obtain, maintain, enforce and defend any rights specified to be so owned or assigned and to provide and execute all documentation necessary to effect the foregoing.
		

		
			 
		

		
			     Other Inventions. The Executive agrees to not incorporate, or permit to be incorporated, any Invention conceived, created, developed or reduced to practice by him (alone or with others) prior to or independently of his employment by the Company (collectively, “Prior Inventions” attached hereto as Exhibit C) in any work he performs for the Company, without the Company’s prior written consent. If (i) he uses or discloses any Prior Inventions when acting within the scope of his employment (or otherwise on behalf of the Company), or (ii) any Assigned Invention cannot be fully made, used, reproduced or otherwise exploited without using or violating any Prior Inventions, the Executive hereby grants and agrees to grant to the Company a perpetual, irrevocable, worldwide, royalty-free, non-exclusive, sublicensable right and license to reproduce, make derivative works of, distribute, publicly perform, publicly display, make, have made, use, sell, import, offer for sale, and otherwise exploit and exercise all such Prior Inventions and Intellectual Property Rights therein.
		

		
			 
		

		
			     Definitions.  “Company Interest” means any business of the Company or any product, service, Invention or Intellectual Property Right that is used or under consideration or development by the Company. “Intellectual Property Rights” means any and all intellectual property rights and other similar proprietary rights in any jurisdiction, whether registered or unregistered, and whether owned or held for use under license with any third party, including all rights and interests pertaining to or deriving from: (a) patents and patent applications,
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			reexaminations, extensions and counterparts claiming property therefrom; inventions, invention disclosures, discoveries and improvements, whether or not patentable; (b) computer software and firmware, including data files, source code, object code and software-related specifications and documentation; (c) works of authorship, whether or not copyrightable; (d) trade secrets (including those trade secrets defined in the Uniform Trade Secrets Act and under corresponding statutory law and common law), business, technical and know-how information, non-public information, and confidential information and rights to limit the use of disclosure thereof by any person; (e) trademarks, trade names, service marks, certification marks, service names, brands, trade dress and logos and the goodwill associated therewith; (f) proprietary databases and data compilations and all documentation relating to the foregoing, including manuals, memoranda and record; (g) domain names; and (h) licenses of any of the foregoing; including in each case any registrations of, applications to register, and renewals and extensions of, any of the foregoing with or by any governmental authority in any jurisdiction. “Invention” means any products, process, ideas, improvements, discoveries, inventions, designs, algorithms, financial models, writings, works of authorship, content, graphics, data, software, specifications, instructions, text, images, photographs, illustration, audio clips, trade secrets and other works, material and information, tangible or intangible, whether or not it may be patented, copyrighted or otherwise protected (including all versions, modifications, enhancements and derivative work thereof).
		

		
			 
		

		
			     Restrictive Covenants. The Executive acknowledges and agrees that he has and will have access to secret and confidential information of the Company and its subsidiaries (“Confidential Information”) and that the following restrictive covenants are necessary to protect the interests and continued success of the Company. As used in this Agreement, Confidential Information includes, without limitation, all information of a technical or commercial nature (such as research and development information, patents, trademarks and copyrights and applications thereto, formulas, codes, computer programs, software, methodologies, processes, innovations, software tools, know-how, knowledge, designs, drawings specifications, concepts, data, reports, techniques, documentation, pricing information, marketing plans, customer and prospect lists, trade secrets, financial information, salaries, business affairs, suppliers, profits, markets, sales strategies, forecasts and personnel information), whether written or oral, relating to the business and affairs of the Company, its customers and/or other business associates which has not been made available to the general public.
		

		
			 
		

		
			     Confidentiality. The Executive shall not disclose any Confidential Information to any person or entity at any time during or after the termination of this Agreement or the Executive’s employment.
		

		
			 
		

		
			     Non-Compete. In consideration of the employment hereunder, the Executive agrees that during his employment and for a period of one (1) year thereafter, the Executive will not (and will cause any entity controlled by the Executive not to), directly or indirectly, whether or not for compensation and whether or not as an employee, be engaged in or have any financial interest in any business competing with or which may compete with the business of the Company (or with the business of any affiliate of the Company conducting substantially similar activities) (such affiliates together with the Company, collectively, “Wayside”) within any state, country, region or locality in which Wayside is then doing business or marketing its products or solicit, advise, provide or sell any services or products of the same or similar nature to services
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			or products of Wayside to any person or entity. For purposes of this Agreement, the Executive will be deemed to be engaged in or to have a financial interest in such competitive business if he is an officer, director, shareholder, joint venturer, agent, salesperson, consultant, investor, advisor, principal or partner, of any person, partnership, corporation, trust or other entity which is engaged in such a competitive business, or if he directly or indirectly performs services for such an entity or if a member of Executive’s immediate family beneficially owns an equity interest, or interest convertible into equity, in any such entity; provided,  however, that the foregoing will not prohibit the Executive or a member of her immediate family from owning, for the purpose of passive investment, less than 5% of any class of securities of a publicly held corporation.
		

		
			 
		

		
			     Non-Solicitation/Non-Interference. The Executive agrees that during his employment and for an additional one (1) year after the termination thereof, the Executive shall not (and shall cause any entity controlled by the Executive not to), directly or indirectly, acting as an employee, owner, shareholder, partner, joint venturer, officer, director, agent, salesperson, consultant, advisor, investor or principal of any corporation, trust or other entity: (i) solicit, request or otherwise attempt to induce or influence, directly or indirectly, any present client, distributor, licensor or supplier, or prospective client, distributor, licensor or supplier, of Wayside, or other persons sharing a business relationship with Wayside, to cancel, limit or postpone their business with Wayside, or otherwise take action which might cause a financial disadvantage of Wayside; or (ii) hire or solicit for employment, directly or indirectly, or induce or actively attempt to influence, any employee, officer, director, agent, contractor or other business associate of Wayside, including any of its Affiliates, as such term is defined in the Securities Act of 1933, as amended, to terminate his or her employment or discontinue such person’s consultant, contractor or other business association with Wayside or its Affiliates. For purposes of this Agreement the term prospective client shall mean any person, group of associated persons or entity whose business Wayside has solicited at any time prior to the termination of his employment.
		

		
			 
		

		
			     The Parties agree that they will not in any way disparage each other, including current or former officers, directors and employees, nor will they make or solicit any comments, statements or the like to the media or to others that may be considered to be disparaging, derogatory or detrimental to the good name or business reputation of the other.
		

		
			 
		

		
			     If the Board, in its reasonable discretion, determines that the Executive violated any of the restrictive covenants contained in this Section 8, the applicable restrictive period shall be increased by the period of time from the commencement of any such violation until the time such violation shall be cured by the Executive to the satisfaction of the Company.
		

		
			 
		

		
			     In the event that either any scope or restrictive period set forth in this Section 8 is deemed to be unreasonably restrictive or unenforceable in any court proceeding, the scope and/or restrictive period shall be reduced to equal the maximum scope and/or restrictive period allowable under the circumstances.
		

		
			 
		

		
			     The Executive acknowledges and agrees that in the event of a breach or threatened breach of the provisions of this Section 8 by the Executive, the Company may suffer
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			irreparable harm and, therefore, the Company shall be entitled to seek immediate injunctive relief restraining the Executive from such breach or threatened breach of the restrictive covenants contained in this Section 8. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for such breach or threatened breach, including the recovery of damages from the Executive. The Company acknowledges and agrees that in the event of a breach or threatened breach of the provisions of this Section 8 by the Company, the Executive may suffer irreparable reputation harm and, therefore, the Executive shall be entitled to seek immediate injunctive relief restraining the Company from such breach or threatened breach of the restrictive covenants contained in this Section 8. Nothing herein shall be construed as prohibiting the Executive from pursuing any other remedies available to him for such breach or threatened breach, including the recovery of damages from the Company.
		

		
			 
		

		
			     Section 409A
		

		
			 
		

		
			     All payments contemplated under this Agreement are intended to comply with, or be exempt from, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations and guidance promulgated thereunder (“Section 409A”), so that none of the payments and benefits to be provided hereunder, including, without limitation, the salary continuation in Section 6(g) above, will be subject to the additional tax imposed under Section 409A. Executive and Company agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under Section 409A. This Agreement is intended to be written, administered, interpreted and construed in a manner such that no benefit under the Agreement becomes subject to (a) the gross income inclusion set forth in Section 409A(a)(l)(A) or (b) the interest and additional tax set forth in Section 409A(a)(l)(B) (collectively, “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties. Further, to the extent that any terms of this Agreement are ambiguous, such terms shall be interpreted and administered as necessary to comply with Section 409A, or an exemption under Section 409A, to the full extent applicable. If the Severance hereunder is considered deferred compensation subject to Section 409A, then it shall only begin to be paid upon a termination of employment that is also a “separation from service” as defined in Section 409A. Each payment, installment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section l.409A-2(b)(2) of the Treasury Regulations. In no event will Company reimburse Executive for any taxes that may be imposed on Executive as a result of Section 409A.
		

		
			 
		

		
			     Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee” within the meaning of Section 409A at the time of Executive’s separation from service (as defined in Section 409A), other than due to death, then the benefits to be paid or provided to Executive upon separation from service, if any, pursuant to this Agreement that are considered deferred compensation not exempt under Section 409A, when considered together with any other termination benefits that are considered deferred compensation not exempt under Section 409A (together, the “Deferred Payments”), which are payable within the first six months following Executive’s separation from service, will become payable on the first payroll date that occurs on or after the date six months and one day following the date of Executive’s separation
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			from service. All subsequent Deferred Payments, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit.
		

		
			 
		

		
			           Attorneys’ Fees. If any action at law or in equity (including arbitration) is necessary to enforce or interpret the terms of any provision of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled pursuant to the underlying action.
		

		
			 
		

		
			           No Conflicts. The Executive represents and warrants to the Company that the execution, delivery and performance by the Executive of this Agreement do not conflict with or result in a violation or breach of, or constitute (with or without the giving of notice or the lapse of time or both) a default under any contract, agreement or understanding, whether oral or written, to which the Executive is a party or by which the Executive is bound and that there are no restrictions, covenants, agreements or limitations on the Executive’s right or ability to enter into and perform the terms of this Agreement, and the Executive agrees to indemnify and save the Company harmless from any liability, cost or expense, including attorney’s fees, based upon or arising out of any breach of this Section 10.
		

		
			 
		

		
			           Waiver. The waiver by either party of any breach by the other party of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach by such party. No person acting other than pursuant to a resolution of the Company shall have authority on behalf of the Company to agree to amend, modify, repeal, waive or extend any provision of this Agreement.
		

		
			 
		

		
			           Assignment. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. This Agreement shall inure to the benefit of and be enforceable by the Executive or his legal representatives, executors, administrators and heirs. The Executive may not assign any of the Executive’s duties, responsibilities, obligations or positions hereunder to any person and any such purported assignment by the Executive shall be void and of no force and effect.
		

		
			 
		

		
			           Notices. All notices, requests, demands and other communications which are required or may be given pursuant to this Agreement shall be in writing and shall be deemed to have been duly given when received if personally delivered; upon confirmation of transmission if sent by telecopy, electronic or digital transmission; the day after it is sent, if sent for next day delivery to a domestic address by recognized overnight delivery service (e.g., Federal Express); and upon receipt, if sent by certified or registered mail, return receipt requested. In each case notice shall be sent to:
		

		
			 
		

		
			If to Executive, addressed to: 
		

		
			 
		

		
			Dale Foster
		

		
			814 Lamoka Drive
		

		
			Odenton MD, 21113
		

		
			 
		

		
			
		

		
			

		 

 

		

		
			If to the Company, addressed to:
		

		
			 
		

		
			Wayside Technology Group, Inc. 
		

		
			4 Industrial Way W.
		

		
			Eatontown, New Jersey 07724
		

		
			 
		

		
			or to such other place and with such other copies as either party may designate as to itself by written notice to the others.
		

		
			 
		

		
			           Construction of Agreement.
		

		
			 
		

		
			           Governing Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the internal laws of Delaware without reference to its principles regarding conflicts of law.
		

		
			 
		

		
			           Severability. In the event that any one or more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
		

		
			 
		

		
			           Headings. The descriptive headings of the several paragraphs of this Agreement are inserted for convenience of reference only and shall not constitute a part of this Agreement.
		

		
			 
		

		
			           Entire Agreement. This Agreement, inclusive of Exhibit A hereto, contains the entire agreement of the parties concerning the Executive’s employment and all promises, representations, understandings, arrangements and prior agreements on such subject are merged herein and superseded hereby.
		

		
			 
		

		
			 
		

		
			[Signatures appear on next page]
		

		
			 
		

		
			IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer and the Executive has set his hand, all as of the day and year first above written.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						        

					
					
						WAYSIDE TECHNOLOGY GROUP, INC.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						By:

					
					
						 /s/ Simon Nynens 

				
	
					
						 

					
					
						Name:

					
					
						Simon Nynens

					
					
						 

				
	
					
						 

					
					
						Its:

					
					
						Chief Executive Officer 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						EXECUTIVE

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						/s/ Dale Foster

				
	
					
						 

					
					
						Dale Foster

				

		
			 
		

		
			
		

		
			

		 

 

		

		
			 
		

		
			 
		

		
			Exhibit A
		

		
			 
		

		
			Prior Inventions: none

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