Document:

exv4w1

Exhibit 4.1

AMERICAN EXPRESS ISSUANCE TRUST

OMNIBUS AMENDMENT TO

INDENTURE SUPPLEMENTS

          OMNIBUS AMENDMENT, dated as of October 2, 2009 (this “Amendment”), to the Supplements
(as hereinafter described) to the Amended and Restated Indenture, dated as of November 1, 2007 (as
amended and restated, the “Indenture”), between American Express Issuance Trust, a
statutory trust organized under the laws of the State of Delaware, as Issuer (the
“Issuer”), and The Bank of New York Mellon (formerly The Bank of New York), a New York
banking corporation, as Indenture Trustee (the “Indenture Trustee”) and as the initial
Securities Intermediary.

RECITALS

          WHEREAS, the Issuer and the Indenture Trustee have previously entered into (i) the Series
2005-1 Indenture Supplement, dated as of September 16, 2005, (ii) the Series 2005-2 Indenture
Supplement, dated as of September 16, 2005, (iii) the Series 2007-1 Indenture Supplement, dated as
of November 1, 2007, (iv) the Series 2007-2 Indenture Supplement, dated as of November 1, 2007, (v)
the Series 2008-1 Indenture Supplement, dated as of April 3, 2008, and (vi) the Series 2008-2
Indenture Supplement, dated as of August 7, 2008.

          WHEREAS, the indenture supplements listed in the preceding paragraph are, collectively and in
each case as amended to date, the “Supplements”.

          WHEREAS, pursuant to Section 10.01 of the Indenture, the Issuer has delivered to the Indenture
Trustee and to Wilmington Trust Company (the “Owner Trustee”) an Officer’s Certificate to
the effect that the Issuer reasonably believes that this Amendment will not have an Adverse Effect
and is not reasonably expected to have an Adverse Effect at any time in the future.

          WHEREAS, the Issuer and the Indenture Trustee have satisfied all conditions precedent
contained in the Indenture to entering into this Amendment and this Amendment is authorized and
permitted under the Indenture.

          NOW, THEREFORE, in consideration of the mutual agreements herein contained, and other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, each party
hereto agrees as follows:

ARTICLE I

DEFINITIONS

     SECTION 1.01. Defined Terms Not Defined Herein. All capitalized terms used herein
that are not defined herein shall have the meanings ascribed to them in the respective Supplements
or the Indenture, as the case may be.

 

 

ARTICLE II

AMENDMENTS TO SUPPLEMENTS

     SECTION 2.01. Amendment to Exhibits. Each Supplement shall be amended by deleting
Exhibit B-1 thereto and inserting in its place Exhibit B-1, which shall be in the form attached as
Exhibit B-1 to this Amendment.

ARTICLE III

MISCELLANEOUS

     SECTION 3.01. Ratification of Supplements. As amended by this Amendment, the
Supplements are in all respects ratified and confirmed and each Supplement, as amended by this
Amendment, shall be read, taken and construed as one and the same instrument.

     SECTION 3.02. Counterparts. This Amendment 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 3.03. GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS.

     SECTION 3.04. Effectiveness. The amendments provided for by this Amendment shall
become effective as of January 1, 2009 upon receipt by the Indenture Trustee and the Owner Trustee
of the following:

     (a) written confirmation from each Note Rating Agency to the effect that the terms of this
Amendment will not cause a Ratings Effect;

     (b) an Officer’s Certificate from the Issuer to the effect that the Issuer reasonably believes
that this Amendment will not have an Adverse Effect and is not reasonably expected to have an
Adverse Effect at any time in the future;

     (c) an Issuer Tax Opinion; and

     (d) counterparts of this Amendment, duly executed by the parties hereto.

     SECTION 3.05 Limitation of Liability. It is expressly understood and agreed by the
parties hereto that (a) this Amendment is executed and delivered by Wilmington Trust Company, not
individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the

 

 

powers and authority conferred and vested in it, (b) each of the representations, undertakings
and agreements herein made on the part of the Issuer is made and intended not as a personal
representation, undertaking and agreement, as the case may be, by Wilmington Trust Company but is
made and intended for the purpose of binding only the Issuer, (c) nothing herein contained shall be
construed as creating any liability on Wilmington Trust Company, individually or personally, to
perform any covenant either expressed or implied contained herein, all such liability, if any,
being expressly waived by the parties hereto and by any person claiming by, through or under the
parties hereto and (d) under no circumstances shall Wilmington Trust Company be personally liable
for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or
failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer
under this Amendment or any other related documents.

[Signature page follows.]

 

 

     IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this Amendment to be duly
executed by their respective officers as of the day and year first above written.

	 	 	 	 	 
	 	AMERICAN EXPRESS ISSUANCE TRUST,

as Issuer

 	 
	 	By:  	WILMINGTON TRUST COMPANY, not in its
 	 
	 	 	individual capacity but solely as 	 
	 	 	Owner Trustee on behalf of the Trust 	 
	 	 	 
	 	By:  	/s/ Erwin M. Soriano
 	 
	 	 	Name:  	Erwin M. Soriano 	 
	 	 	Title:  	Assistant Vice President 	 
	 
	 	THE BANK OF NEW YORK MELLON,

as Indenture Trustee and Securities Intermediary

 	 
	 	By:  	/s/ Catherine L. Cerilles
 	 
	 	 	Name:  	Catherine L. Cerilles 	 
	 	 	Title:  	Vice President 	 
	 

[Omnibus Amendment to Indenture Supplements]

 

 

EXHIBIT B-1

FORM OF MONTHLY NOTEHOLDERS’ STATEMENT

AMERICAN EXPRESS ISSUANCE TRUST

SERIES 200[_]-[_]

          Pursuant to (i) the Amended and Restated Indenture, dated as of November 1, 2007 (hereinafter
as such agreement may be from time to time, amended or otherwise modified, the
“Indenture”), between American Express Issuance Trust (the “Issuer” or the
“Trust”), and The Bank of New York, as indenture trustee (the “Indenture Trustee”),
as supplemented by the Indenture Supplement, dated as of [_______], 200[_] (the “Indenture
Supplement”), between the Issuer and the Indenture Trustee and (ii) the Amended and Restated
Transfer and Servicing Agreement, dated as of November 1, 2007 (hereinafter as such agreement may
be from time to time, amended or otherwise modified, the “Transfer and Servicing
Agreement”), among American Express Receivables Financing Corporation V LLC, as transferor,
American Express Travel Related Services Company, Inc., as servicer and administrator
(“TRS” or the “Servicer”), the Issuer and the Indenture Trustee, TRS as Servicer is
required to prepare certain information each month regarding current payments to the Series
200[_]-[_] Noteholders and the performance of the Trust during the previous monthly period. The
information which is required to be prepared with respect to the Payment Date of [_____], and with respect to the performance of the Trust is set forth below. Certain of the
information is presented on the basis of an Outstanding Dollar Principal Amount of $1,000 per
Series 200[_]-[_] Note (a “Note”). Certain other information is presented based on the
aggregate amounts for the Trust as a whole. Capitalized terms used in this Monthly Statement have
their respective meanings set forth in the Indenture, the Indenture Supplement and the Transfer and
Servicing Agreement.

	 	 	 	 	 	 	 	 	 
	A)	 	Information regarding payments in
respect of the Class A Notes per $1,000 Outstanding
Dollar Principal Amount	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(1	)	 	The total amount of
the payment in respect of the Class A Notes
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(2	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class A Monthly Interest
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(3	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class A Monthly Interest previously
due but not distributed on a prior Payment
Date
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(4	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class A Additional Interest
	 	$                    

B-1-1

 

	 	 	 	 	 	 	 	 	 
	 

	 	 	(5	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class A Additional Interest
previously due but not distributed on a prior
Payment Date
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(6	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of principal of the Class A Notes
	 	$                    
	 
	 	 	 	 	 	 	 	 
	B)	 	Information regarding payments in
respect of the Class B Notes, per $1,000 Outstanding
Dollar Principal Amount	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(1	)	 	The total amount of
the payment in respect of the Class B Notes
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(2	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class B Monthly Interest
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(3	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class B Monthly Interest previously
due but not distributed on a prior Payment
Date
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(4	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class B Additional Interest
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(5	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class B Additional Interest
previously due but not distributed on a prior
Payment Date
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(6	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of principal of the Class B Notes
	 	$                    
	 
	 	 	 	 	 	 	 	 
	C)	 	Information regarding payments in
respect of the Class C Notes, per $1,000 Outstanding
Dollar Principal Amount	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(1	)	 	The total amount of
the payment in respect of Class C Notes
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(2	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class C Monthly Interest
	 	$                    

B-1-2

 

	 	 	 	 	 	 	 	 	 
	 

	 	 	(3	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class C Monthly Interest previously
due but not distributed on a prior Payment
Date
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(4	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class C Additional Interest
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(5	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of Class C Additional Interest
previously due but not distributed on a prior
Payment Date
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(6	)	 	The amount of the
payment set forth in paragraph (1) above in
respect of principal of the Class C Notes
	 	$                    

	 	 	 	 	 
	 	AMERICAN EXPRESS TRAVEL RELATED

SERVICES COMPANY, INC., as Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-1-3

 

FORM OF MONTHLY SERVICER STATEMENT

AMERICAN EXPRESS ISSUANCE TRUST

	 	 	 	 	 
	Monthly Period:
	 	[_]/[_]/[_] to [_]/[_]/[_]	 
	Record Date:
	 	 	[_]/[_]/[_]	 
	Payment Date:
	 	 	[_]/[_]/[_]	 

	 	 	 	 	 
	TRUST ACTIVITY	 	TRUST TOTALS
	1. Number of days in Monthly Period
	 	 	[_]	 
	2. Beginning of Monthly Period Number of Accounts
	 	 	[_]	 
	3. Beginning of Monthly Period Principal Receivables, including any
additions or removals during the Monthly Period
	 	$	[_]	 
	3a. Addition of Principal Receivables
	 	$	[_]	 
	3b. Removal of Principal Receivables
	 	$	[_]	 
	4. Beginning of Monthly Period Invested Amount of Collateral Certificates
	 	$	[_]	 
	5. Beginning of Monthly Period Excess Funding Amount
	 	$	[_]	 
	6a. Beginning of Monthly Period Required Pool Balance
	 	$	[_]	 
	6b. Beginning of Monthly Period Pool Balance
	 	$	[_]	 
	7. Beginning of Monthly Period Available Overconcentration Account Amount
	 	$	[_]	 
	8. New Principal Receivables
	 	$	[_]	 
	9. Principal Collections
	 	$	[_]	 
	10. Gross Default Amount
	 	$	[_]	 
	11. End of Monthly Period Principal Receivables
	 	$	[_]	 
	12. End of Monthly Period Invested Amount of Collateral Certificates
	 	$	[_]	 
	13. End of Monthly Period Excess Funding Account Amount
	 	$	[_]	 
	14. End of Monthly Period Pool Balance
	 	$	[_]	 
	15. End of Monthly Period Required Pool Balance
	 	$	[_]	 
	16. End of Monthly Period Available Overconcentration Account Amount
	 	$	[_]	 
	17. Required Overconcentration Account Amount
	 	$	[_]	 
	18. End of Monthly Period Number of Accounts
	 	 	[_]	 

B-1-4

 

	 	 	 	 	 
	TRUST PERFORMANCE	 	 	 	 
	1. Principal Collections
	 	$	[_]	 
	2. Principal Payment Rate
	 	 	[_]	%
	3. Net Default Amount
	 	$	[_]	 
	4. Annualized Net Default Rate
	 	 	[_]	%
	5. Gross Default Amount
	 	$	[_]	 
	6. Annualized Gross Default Rate
	 	 	[_]	%
	7. Finance Charge Collections
	 	$	[_]	 
	8. Trust Portfolio Yield (Net of Defaults)
	 	 	[_]	%
	9. Delinquencies
	 	 	 	 
	31-60 Days Delinquent
	 	$	[_]	 
	61-90 Days Delinquent
	 	$	[_]	 
	90+ Days Delinquent
	 	$	[_]	 
	Total 30+ Days Delinquent
	 	$	[_]	 

	 	 	 	 	 
	TRANSFEROR AMOUNT	 	 	 	 
	1. Beginning of Monthly Period Pool Balance
	 	$	[_]	 
	2. Beginning of Monthly Period Nominal Liquidation Amount
	 	$	[_]	 
	3. Beginning of Monthly Period Transferor Amount
	 	$	[_]	 
	4. End of Monthly Period Pool Balance
	 	$	[_]	 
	5. End of Monthly Period Nominal Liquidation Amount
	 	$	[_]	 
	6. End of Monthly Period Transferor Amount
	 	$	[_]	 
	7. End of Monthly Period Required Transferor Amount
	 	$	[_]	 

AMERICAN EXPRESS ISSUANCE TRUST

SERIES 200[_]-[_]

	 	 	 	 	 
	SERIES 200[_]-[_] NOMINAL LIQUIDATION AMOUNT	 	 	 	 
	1. Beginning of Monthly Period Series 200[_]-[_] Nominal Liquidation Amount
	 	$	[_]	 
	2. Reimbursement of previous reductions in the Series 200[_]-[_] Nominal Liquidation Amount
	 	$	[_]	 

B-1-5

 

	 	 	 	 	 
	SERIES 200[_]-[_] NOMINAL LIQUIDATION AMOUNT	 	 	 	 
	3. Investor Charge-Offs
	 	$	[_]	 
	4. Reallocated Principal Collections
	 	$	[_]	 
	5. Principal Funding Account Balance
	 	$	[_]	 
	6. Payments of principal of the Series 200[_]-[_] Notes
	 	$	[_]	 
	7. End of Monthly Period Series 200[_]-[_] Nominal Liquidation Amount
	 	$	[_]	 

	 	 	 	 	 	 	 	 	 
	REALLOCATION GROUP [_] ALLOCATIONS	 	Trust Totals	 	Group Totals
	1. Nominal Liquidation Amount
	 	 	 	 	 	$	[_]	 
	2. Finance Charge Collections
	 	$	[_]	 	 	$	[_]	 
	3. Interest
	 	 	 	 	 	$	[_]	 
	4. Net Default Amount
	 	 	 	 	 	$	[_]	 
	5. Servicing Fee paid to the servicer
	 	 	 	 	 	$	[_]	 
	6. Additional Amounts
	 	 	 	 	 	$	[_]	 

	 	 	 	 	 
	SERIES 200[_]-[_] ALLOCATIONS	 	 	 	 
	1. Reallocation Group
	 	 	[_]	 
	2. Shared Excess Available Finance Charge Collections Group
	 	 	[_]	 
	3. Shared Excess Available Principal Collections Group
	 	 	[_]	 
	4. Principal Funding Account Balance
	 	$	[_]	 
	5. Series 200[_]-[_] Floating Allocation Percentage
	 	 	[_]	%
	6. Series 200[_]-[_] Finance Charge Collections
	 	$	[_]	 
	7. Series 200[_]-[_] Reallocation Group [_] Finance Charge Collections
	 	$	[_]	 
	8. Net Investment Proceeds from Principal Funding Account
	 	$	[_]	 
	9. Amounts withdrawn from the Accumulation Reserve Account
	 	$	[_]	 
	10. Series 200[_]-[_] Available Finance Charge Collections
	 	$	[_]	 
	11. Series 200[_]-[_] Allocation of Shared Excess Available Finance Charge Collections
	 	$	[_]	 
	12. Series 200[_]-[_] LIBOR Determination Date
	 	 	[_]	 
	13. Series 200[_]-[_] Monthly Interest ([Date] to [Date])
	 	$	[_]	 
	14. Series 200[_]-[_] Servicing Fee paid to the servicer
	 	$	[_]	 
	15. Series 200[_]-[_] Default Amount
	 	$	[_]	 

B-1-6

 

	 	 	 	 	 
	SERIES 200[_]-[_] ALLOCATIONS	 	 	 	 
	16. Series 200[_]-[_] Principal Allocation Percentage
	 	 	[_]	%
	17. Series 200[_]-[_] Allocation of Principal Collections
	 	$	[_]	 
	18. Series 200[_]-[_] Allocation of Shared Excess Available Principal Charge Collections
	 	$	[_]	 
	19. Series 200[_]-[_] Allocation of amounts withdrawn from the Overconcentration Account
	 	$	[_]	 

	 	 	 	 	 
	APPLICATION OF SERIES 200[_]-[_] AVAILABLE FINANCE CHARGE COLLECTIONS	 	 	 	 
	1. Series 200[_]-[_] Available Finance Charge Collections
	 	$	[_]	 
	2. Class A Notes ($[_])
	 	 	 	 
	a. Class A Monthly Interest (Note Interest Rate: [_]%)
	 	$	[_]	 
	b. Class A Outstanding Monthly Interest
	 	$	[_]	 
	c. Class A Additional Interest
	 	$	[_]	 
	d. Class A Outstanding Additional Interest
	 	$	[_]	 
	3. Class B Notes ($[_])
	 	 	 	 
	a. Class B Monthly Interest (Note Interest Rate: [_]%)
	 	$	[_]	 
	b. Class B Outstanding Monthly Interest
	 	$	[_]	 
	c. Class B Additional Interest
	 	$	[_]	 
	d. Class B Outstanding Additional Interest
	 	$	[_]	 
	4. Class C Notes ($[_])
	 	 	 	 
	a. Class C Monthly Interest (Note Interest Rate: [_]%)
	 	$	[_]	 
	b. Class C Outstanding Monthly Interest
	 	$	[_]	 
	c. Class C Additional Interest
	 	$	[_]	 
	d. Class C Outstanding Additional Interest
	 	$	[_]	 
	5. Series 200[_]-[_] Servicing Fee paid to servicer
	 	$	[_]	 
	6. Amount equal to Series 200[_]-[_] Default Amount treated as Series 200[_]-[_] Available Principal Collections
	 	$	[_]	 
	7. Amount equal to unreimbursed reductions in the Series 200[_]-[_] Nominal Liquidation Amount treated as
Series 200[_]-[_] Available Principal Collections
	 	$	[_]	 
	8. Deposited to the Accumulation Reserve Account
	 	$	[_]	 
	9. Deposited to the Class C Reserve Account
	 	$	[_]	 

B-1-7

 

	 	 	 	 	 
	APPLICATION OF SERIES 200[_]-[_] AVAILABLE FINANCE CHARGE COLLECTIONS	 	 	 	 
	10. In the event of default and acceleration, amount up to the outstanding dollar principal amount of the Series
200[_]-[_] notes treated as Series 200[_]-[_] Available Principal Collections
	 	$	[_]	 
	11. Remaining amount treated as Shared Excess Available Finance Charge Collections available for allocation to
other series in Shared Excess Available Finance Charge Collections Group [_]
	 	$	[_]	 
	12. Remaining amount paid to the holder of the Transferor Interest
	 	$	[_]	 

	 	 	 	 	 
	APPLICATION OF SHARED EXCESS AVAILABLE
FINANCE CHARGE COLLECTIONS ALLOCATED TO SERIES 200[_]-[_]	 	 	 	 
	1. Shared Excess Available Finance Charge Collections
	 	$	[_]	 
	2. Applied to fund Class A Monthly Interest and Class A
Additional Interest and any past due Class A Monthly Interest and
Class A Additional Interest
	 	$	[_]	 
	3. Applied to fund Class B Monthly Interest and Class B
Additional Interest and any past due Class B Monthly Interest and
Class B Additional Interest
	 	$	[_]	 
	4. Applied to fund Class C Monthly Interest and Class C
Additional Interest and any past due Class C Monthly Interest and
Class C Additional Interest
	 	$	[_]	 
	5. Applied to unpaid Series 200[_]-[_] Servicing Fee
	 	$	[_]	 
	6. Amount equal to Series 200[_]-[_] Default Amount treated as
Series 200[_]-[_] Available Principal Collections
	 	$	[_]	 
	7. Amount equal to unreimbursed reductions in the Series
200[_]-[_] Nominal Liquidation Amount treated as Series
200[_]-[_] Available Principal Collections
	 	$	[_]	 
	8. Deposited to the Accumulation Reserve Account
	 	$	[_]	 
	9. Deposited to the Class C Reserve Account
	 	$	[_]	 
	10. In the event of default and acceleration, amount up to the
outstanding dollar principal amount of the Series 200[_]-[_]
Notes treated as Series 200[_]-[_] Available Principal
Collections
	 	$	[_]	 
	11. Remaining amount treated as Shared Excess Available Finance
Charge Collections available to cover Series Available Finance
Charge Collections Shortfalls
	 	$	[_]	 
	12. Remaining amount paid to the holder of the Transferor Interest
	 	$	[_]	 

	 	 	 	 	 
	PRINCIPAL COLLECTIONS	 	 	 	 
	1. Series 200[_]-[_] Principal Allocation Percentage
	 	 	[_]	%
	2. Series 200[_]-[_] Principal Collections
	 	$	[_]	 

B-1-8

 

	 	 	 	 	 
	PRINCIPAL COLLECTIONS	 	 	 	 
	3. Reallocated Principal Collections required to pay
shortfalls in interest on the Class A Notes or the Class B
Notes or shortfalls in the Series 200[_]-[_] Servicing Fee and
past due amounts thereon
	 	$	[_]	 
	4. Item 2 minus Item 3
	 	$	[_]	 
	5. Other amounts treated as Series 200[_]-[_] Available
Principal Collections
	 	$	[_]	 
	6. Series 200[_]-[_] Available Principal Collections (total
of items 4 and 5)
	 	$	[_]	 
	 	 	 	 	 
	APPLICATION OF AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING PERIOD	 	 	 	 
	1. Treated as Shared Excess Available Principal Collections
	 	$	[_]	 

	 	 	 	 	 
	APPLICATION OF PRINCIPAL COLLECTIONS DURING CONTROLLED ACCUMULATION PERIOD	 	 	 	 
	1. Principal Funding Account
	 	 	[NA]	 
	2. Treated as Shared Excess Available Principal Collections
	 	 	[NA]	 
	 	 	 	 	 
	APPLICATION OF PRINCIPAL COLLECTIONS DURING EARLY AMORTIZATION PERIOD	 	 	 	 
	1. Class A Noteholders
	 	[NA]	 
	2. Class B Noteholders
	 	[NA]	 
	3. Class C Noteholders
	 	[NA]	 
	4. Treated as Shared Excess Available Principal Collections
	 	[NA]	 

	 	 	 	 	 
	APPLICATION OF SHARED EXCESS AVAILABLE
PRINCIPAL COLLECTIONS ALLOCATED TO SERIES 200[_]-[_]	 	 	 	 
	1. Series 200[_]-[_] Available Principal Collections Shortfall
	 	$	[_]	 
	2. Shared Excess Available Principal Collections
	 	$	[_]	 
	3. During the Controlled Accumulation Period:
	 	 	 	 
	3a. Amount deposited in the Principal Funding Account
	 	$	[_]	 

B-1-9

 

	 	 	 	 	 
	APPLICATION OF SHARED EXCESS AVAILABLE
PRINCIPAL COLLECTIONS ALLOCATED TO SERIES 200[_]-[_]	 	 	 	 
	4. During the Early Amortization Period:
	 	 	 	 
	4a. Paid to the Class A Noteholders
	 	$	[_]	 
	4b. Paid to the Class B Noteholders
	 	$	[_]	 
	4c. Paid to the Class C Noteholders
	 	$	[_]	 
	 
	SERIES 200[_]-[_] PRINCIPAL FUNDING, ACCUMULATION, CLASS C RESERVE ACCOUNT	 	 	 	 
	1. Principal Funding Account
	 	 	 	 
	Opening Balance
	 	$	[_]	 
	Additions
	 	$	[_]	 
	Withdrawals
	 	$	[_]	 
	Ending Balance
	 	$	[_]	 
	2. Investment Proceeds on Principal Funding Account
	 	$	[_]	 
	3. Accumulation Reserve Account Amount
	 	 	 	 
	Opening Balance
	 	$	[_]	 
	Additions
	 	$	[_]	 
	Withdrawals
	 	$	[_]	 
	Ending Balance
	 	$	[_]	 
	4. Accumulation Reserve Account target amount
	 	$	[_]	 
	5. Class C Reserve Account Amount
	 	 	 	 
	Opening Balance
	 	$	[_]	 
	Additions
	 	$	[_]	 
	Withdrawals
	 	$	[_]	 
	Ending Balance
	 	$	[_]	 
	6. Class C Reserve Account target amount
	 	$	[_]	 

	 	 	 	 	 
	PORTFOLIO PERFORMANCE DATA	 	 	 	 
	1. Series 200[_]-[_] Portfolio Yield
	 	 	 	 
	Current Monthly Period
	 	 	[_]	%
	Prior Monthly Period
	 	 	[_]	%
	Second Prior Monthly Period
	 	 	[_]	%

B-1-10

 

	 	 	 	 	 
	PORTFOLIO PERFORMANCE DATA	 	 	 	 
	2. Series 200[_]-[_] Quarterly Portfolio Yield
	 	 	[_]	%
	3. Series 200[_]-[_] Base Rate
	 	 	 	 
	Current Monthly Period
	 	 	[_]	%
	Prior Monthly Period
	 	 	[_]	%
	Second Prior Monthly Period
	 	 	[_]	%
	4. Series 200[_]-[_] Quarterly Base Rate
	 	 	[_]	%
	5. Series 200[_]-[_] Excess Spread Percentage
	 	 	 	 
	Current Monthly Period
	 	 	[_]	%
	Prior Monthly Period
	 	 	[_]	%
	Second Prior Monthly Period
	 	 	[_]	%
	6. Series 200[_]-[_] Quarterly Excess Spread Percentage
	 	 	[_]	%
	Is the
Quarterly Excess Spread Percentage greater than the Required Excess Spread Percentage?
	 	 	[YES]	 
	7. Principal Payment Rate
	 	 	 	 
	Current Monthly Period
	 	 	[_]	%
	Prior Monthly Period
	 	 	[_]	%
	Second Prior Monthly Period
	 	 	[_]	%
	8. Quarterly Principal Payment Rate
	 		[_]	%
	Is the Quarterly Principal Payment Rate greater than 60%?
	 	 	[YES]	 

	 	 	 	 	 
	 	AMERICAN EXPRESS TRAVEL RELATED 

SERVICES COMPANY, INC., as Servicer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-1-11exv4w1

Exhibit 4.1

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

AMENDMENT

TO SERIES 2009-1 SUPPLEMENT

          AMENDMENT, dated as of October 2, 2009 (this “Amendment”), to the Series 2009-1
Supplement, dated as of June 9, 2009 (the “Supplement”), to the Pooling and Servicing
Agreement, dated as of May 16, 1996, as amended and restated as of January 1, 2006 (as so amended
and restated and in effect on the date hereof, the “Agreement”), among American Express
Receivables Financing Corporation II, a Delaware corporation (“RFC II”), American Express
Receivables Financing Corporation III LLC, a Delaware limited liability company (“RFC
III”), and American Express Receivables Financing Corporation IV LLC, a Delaware limited
liability company (“RFC IV”), as Transferors, American Express Travel Related Services
Company, Inc., a New York corporation (“TRS”), as Servicer, and The Bank of New York Mellon
(formerly The Bank of New York), a New York banking corporation, as Trustee (the
“Trustee”).

RECITALS

          WHEREAS, RFC II, RFC III and RFC IV (or their predecessors in interest, as applicable), as
Transferors, TRS, as Servicer, and the Trustee have previously entered into the Supplement;

          WHEREAS, the parties to the Supplement now wish to amend the Supplement as set forth herein;

          WHEREAS, pursuant to Section 13.01(a) of the Agreement, each of RFC II, RFC III and RFC IV has
delivered to the Trustee an Officer’s Certificate, dated the date of this Amendment, stating that
RFC II, RFC III and RFC IV, respectively, reasonably believes that this Amendment will not have an
Adverse Effect; and

          WHEREAS, RFC II, RFC III, RFC IV and the Servicer have satisfied all conditions precedent
contained in the Pooling and Servicing Agreement to entering into this Amendment and this Amendment
is authorized and permitted under the Pooling and Servicing Agreement.

          NOW, THEREFORE, in consideration of the mutual agreements herein contained, and other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, each party
hereto agrees as follows:

 

 

ARTICLE I

DEFINITIONS

          SECTION 1.01. Defined Terms Not Defined Herein. All capitalized terms used herein
that are not defined herein shall have the meanings ascribed to them in the Supplement or the
Agreement, as the case may be.

ARTICLE II

AMENDMENTS TO SUPPLEMENT

          SECTION 2.01. Amendment to Exhibits. The Supplement shall be amended by deleting
Exhibit C-1 thereto and inserting in its place Exhibit C-1 in the form attached as Exhibit C-1 to
this Amendment.

ARTICLE III

MISCELLANEOUS

     SECTION 3.01. Ratification of Supplement. As amended by this Amendment, the
Supplement is in all respects ratified and confirmed and the Supplement, as amended by this
Amendment, shall be read, taken and construed as one and the same instrument.

     SECTION 3.02. Counterparts. This Amendment 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 3.03. GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS.

     SECTION 3.04. Effectiveness. The amendments provided for by this Amendment shall
become effective as of January 1, 2009 upon receipt by the Trustee of the following, each of which
shall be satisfactory to the Trustee in its sole discretion, except as otherwise provided:

          (a) notification in writing from each of Moody’s and Standard & Poor’s to the effect that the
terms of this Amendment will not result in a reduction or withdrawal of the rating of any
outstanding Series or Class to which it is a Rating Agency;

          (b) an Officer’s Certificate from each Transferor addressed and delivered to the Trustee
certifying that this Amendment shall not have an Adverse Effect;

          (c) an Opinion of Counsel from the Servicer to the Trustee substantially in the form of
Exhibit E-1 to the Agreement; and

 

 

          (d) counterparts of this Amendment, duly executed by the parties hereto.

[Signature page follows.]

 

 

          IN WITNESS WHEREOF, the Transferors, the Servicer and the Trustee have caused this Amendment
to be duly executed by their respective officers as of the day and year first above written.

	 	 	 	 	 
	 	AMERICAN EXPRESS RECEIVABLES 
FINANCING CORPORATION II,

as a Transferor

 	 
	 	By:  	/s/ Anderson Y. Lee
 	 
	 	 	Name:  	Anderson Y. Lee 	 
	 	 	Title:  	President 	 
	 
	 	AMERICAN EXPRESS RECEIVABLES
 FINANCING CORPORATION
III LLC,

as a Transferor

 	 
	 	By:  	/s/ Scott C. Godderidge
 	 
	 	 	Name:  	Scott C. Godderidge 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 
	 	AMERICAN EXPRESS RECEIVABLES
 FINANCING CORPORATION IV
LLC,

as a Transferor

 	 
	 	By:  	/s/ Denise D. Roberts
 	 
	 	 	Name:  	Denise D. Roberts 	 
	 	 	Title:  	President 	 
	 
	 	AMERICAN EXPRESS TRAVEL RELATED
 SERVICES COMPANY,
INC.,

as Servicer

 	 
	 	By:  	/s/ David L. Yowan
 	 
	 	 	Name:  	David L. Yowan 	 
	 	 	Title:  	Treasurer 	 
	 
	 	THE BANK OF NEW YORK MELLON,

as Trustee

 	 
	 	By:  	/s/ Catherine L. Cerilles
 	 
	 	 	Name:  	Catherine L. Cerilles 	 
	 	 	Title:  	Vice President 	 
	 

[Amendment to Series 2009-1 Supplement]

 

 

EXHIBIT C-1

FORM OF MONTHLY STATEMENT

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST

SERIES 2009-1

	 	 	 	 	 
	 	 	TRUST
	 	 	TOTALS
	A. TRUST ACTIVITY
	 	 	 	 
	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
	 	$	                    	 
	 
	 	 	 	 
	B. SERIES ALLOCATIONS
	 	 	 	 
	Group Number
	 	 	                    	 
	Invested Amount
	 	$	                    	 
	Adjusted Invested Amount
	 	$	                    	 
	Principal Funding Account Balance
	 	$	                    	 
	Series Required Transferor Amount
	 	$	                    	 
	Series Allocation Percentage
	 	 	                    	%
	Series Allocable Finance Charge Collections
	 	$	                    	 

C-1-1

 

	 	 	 	 	 
	 	 	TRUST
	 	 	TOTALS
	Series Allocable Recoveries
	 	$	                    	 
	Series Allocable Principal Collections
	 	$	                    	 
	Series Allocable Defaulted Amount
	 	$	                    	 
	 
	 	 	 	 
	C. GROUP ALLOCATIONS
	 	 	 	 
	Group Number
	 	 	                    	 
	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 Investor Finance Charge Collections
	 	$	                    	 
	Group Expenses
	 	$	                    	 
	Group Reallocable Investor Finance Charge Collections
	 	$	                    	 
	 
	 	 	 	 
	D. TRUST PERFORMANCE
	 	 	 	 
	Delinquencies
	 	 	 	 
	31-60 Days Delinquent
	 	 	                    	 
	61-90 Days Delinquent
	 	 	                    	 
	90+ Days Delinquent
	 	 	                    	 
	Total 30+ Days Delinquent
	 	 	                    	 

C-1-2

 

SERIES 2009-1 CERTIFICATES

	 	 	 	 	 	 	 	 	 	 	 	 	 
	A. INVESTOR/	 	 	 	 	 	TOTAL	 	 
	TRANSFEROR	 	SERIES	 	INVESTOR	 	TRANSFERORS'
	ALLOCATIONS	 	ALLOCATIONS	 	INTEREST	 	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	 	 	 	 	 	 	 	 	 	COLLATERAL	 	 
	REQUIREMENTS	 	CLASS A	 	CLASS B	 	INTEREST	 	TOTAL
	Principal Funding Account
Balance
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Investment Proceeds for
Monthly Period
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Reserve Account Opening
Balance
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Reserve Account Investment
Proceeds retained per
Section 4.12(b)
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Reserve Account Deposit
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Reserve Draw Amount
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Reserve Account Surplus
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Reserve Account Closing
Balance
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Required Reserve Account
Amount
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	LIBOR Determination Date
	 	 	                    	 	 	 	                    	 	 	 	                    	 	 	 	 	 
	Coupon (__/__/__ to
__/__/__)
	 	 	                    	%	 	 	                    	%	 	 	                    	%	 	 	                    	%
	Monthly Interest Due
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Outstanding Monthly
Interest Due
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Additional Interest Due
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 

C-1-3

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	B. MONTHLY PERIOD FUNDING	 	 	 	 	 	 	 	 	 	COLLATERAL	 	 
	REQUIREMENTS	 	CLASS A	 	CLASS B	 	INTEREST	 	TOTAL
	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 —	 	 	 	 	 	 	 	 	 	COLLATERAL	 	 
	BALANCES AND DISTRIBUTIONS	 	CLASS A	 	CLASS B	 	INTEREST	 	TOTAL
	Beginning Certificates
Balance
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Distributions of Interest
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Deposits to the Principal
Funding Account
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Distributions of Principal
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Total Distributions
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 
	Ending Certificates Balance
	 	$	                    	 	 	$	                    	 	 	$	                    	 	 	$	                    	 

C-1-4

 

	 	 	 	 	 	 	 	 	 
	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-1-5

 

	 	 	 	 	 	 	 	 	 
	 

	 	 	(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 Minimum
Monthly Interest, including Collateral Senior
Minimum Monthly Interest:
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(3	)	 	The amount of the
distribution in respect of Collateral
Additional Interest, including Collateral
Senior Additional Interest:
	 	$                    

C-1-6

 

	 	 	 	 	 	 	 	 	 
	 

	 	 	(4	)	 	The amount distributed
to the Collateral Interest Holder in respect
of principal on the Collateral Invested
Amount:
	 	$                    
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(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-1-7

 

	 	 	 	 	 
	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 2009-1 Allocable Principal Collections
	 	$	                    	 
	3. Principal Allocation Percentage of Series
2009-1 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 2009-1
	 	$	                    	 
	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-1-8

 

	 	 	 	 	 
	4. Treated as Shared Principal Collections
	 	$	                    	 
	 
	 	 	 	 
	N. APPLICATION OF EXCESS SPREAD AND EXCESS FINANCE CHARGE
COLLECTIONS ALLOCATED TO SERIES 2009-1
	 	 	 	 
	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. Applied to Collateral Minimum Monthly Interest, excluding
amount applied to Collateral Senior Minimum Monthly Interest
	 	$	                    	 
	14. 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
	 	 	                    	%

C-1-9

 

	 	 	 	 	 
	4. Three Month average
Series Adjusted Portfolio
Yield
	 	 	                    	%
	5. Is the 3 month average
Series Adjusted Portfolio
Yield more than the 3 month
average Base Rate?
	 	[Yes/No]

C-1-10

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