Document:

EX-4.1

 EXHIBIT 4.1 

 
  

 
 WF CARD
ISSUANCE TRUST 
 WELLS FARGO BANK, NATIONAL
ASSOCIATION, 
 and 

WF CARD FUNDING, LLC 
  

 

FORM OF RECEIVABLES PURCHASE AGREEMENT 

Dated as of [________ __, ____] 
  

 
  

 TABLE OF CONTENTS 

 

							
	 PAGE
	 
	 ARTICLE I DEFINITIONS
	  	 	1	
	 Section 1.01.     Definitions
	  	 	1	
	 Section 1.02.     Other Definitional Provisions; Rules of
Construction
	  	 	9	
		
	 ARTICLE II PURCHASE AND SALE OF RECEIVABLES
	  	 	11	
	 Section 2.01.     Purchase and Sale
	  	 	11	
	 Section 2.02.     Addition of Accounts
	  	 	13	
	 Section 2.03.     Removal of Accounts
	  	 	13	
		
	 ARTICLE III CONSIDERATION AND PAYMENT
	  	 	16	
	 Section 3.01.     Purchase Price
	  	 	16	
	 Section 3.02.     Adjustments to Purchase Price
	  	 	17	
	 Section 3.03.     Use of Name, Logo and Marks
	  	 	17	
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	 	18	
	 Section 4.01.     Representations and Warranties of WFBNA Relating
to WFBNA
	  	 	18	
	 Section 4.02.     Representations and Warranties of WFBNA Relating
to the Agreement and the Receivables
	  	 	19	 
	 Section 4.03.     Representations and Warranties of
Funding
	  	 	21	
		
	 ARTICLE V COVENANTS
	  	 	23	
	 Section 5.01.     Covenants of WFBNA
	  	 	23	
	 Section 5.02.     Mutual Covenants; Compliance with the FDIC
Rule
	  	 	25	
		
	 ARTICLE VI REPURCHASE OBLIGATION
	  	 	26	
	 Section 6.01.     Reassignment of Ineligible Receivables
	  	 	26	
	 Section 6.02.     Reassignment of Other Receivables
	  	 	27	
	 Section 6.03.     Dispute Resolution
	  	 	27	
		
	 ARTICLE VII CONDITIONS PRECEDENT
	  	 	32	
	 Section 7.01.     Conditions to Funding’s Obligation on the
Closing Date
	  	 	32	
	 Section 7.02.     Conditions to WFBNA’s Obligation on the
Closing Date
	  	 	32	
		
	 ARTICLE VIII TERM AND PURCHASE TERMINATION
	  	 	33	
	 Section 8.01.     Term
	  	 	33	
	 Section 8.02.     Purchase Termination
	  	 	33	

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
	 ARTICLE IX MISCELLANEOUS PROVISIONS
	  	 	34	
	 Section 9.01.     Amendment
	  	 	34	
	 Section 9.02.     GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER
OF JURY TRIAL
	  	 	34	
	 Section 9.03.     Notices
	  	 	35	
	 Section 9.04.     Severability
	  	 	36	
	 Section 9.05.     Assignment
	  	 	36	
	 Section 9.06.     Acknowledgement of WFBNA
	  	 	36	
	 Section 9.07.     Further Assurances
	  	 	37	
	 Section 9.08.     No Waiver; Cumulative Remedies
	  	 	37	
	 Section 9.09.     Counterparts
	  	 	37	
	 Section 9.10.     Binding Effect; Third-Party
Beneficiaries
	  	 	37	
	 Section 9.11.     Merger and Integration
	  	 	37	
	 Section 9.12.     Headings
	  	 	38	
	 Section 9.13.     Schedules, Exhibits and Annexes
	  	 	38	
	 Section 9.14.     Survival of Representations and
Warranties
	  	 	38	
	 Section 9.15.     Nonpetition Covenant
	  	 	38	

					
			
	EXHIBIT A 	  	—	  	FORM OF SUPPLEMENTAL CONVEYANCE
	EXHIBIT B 	  	—	  	FORM OF REASSIGNMENT OF RECEIVABLES IN REMOVED ACCOUNTS
			
	SCHEDULE 1 	  	—	  	ACCOUNT SCHEDULE
	SCHEDULE 5.02 	  	—	  	REQUIREMENTS OF FDIC RULE

  
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 This RECEIVABLES PURCHASE AGREEMENT (as
amended, supplemented or otherwise modified from time to time, this “Agreement”) is made as of [________ __, ____], by and between WELLS FARGO BANK, NATIONAL ASSOCIATION (together with its permitted successors and assigns,
“WFBNA”) and WF CARD FUNDING, LLC, a Delaware limited liability company (together with its permitted successors and assigns, “Funding”). 

BACKGROUND 

Each capitalized term is defined in Article I of this Agreement. 

WFBNA originates receivables in credit card accounts and, under this Agreement, WFBNA is selling to Funding all receivables arising in a
subset of those accounts. Funding intends to securitize those receivables and certain other related assets it purchases pursuant to this Agreement by transferring them to the WF Card Issuance Trust under the Transfer Agreement (as defined below).

 AGREEMENT 

In consideration of the mutual promises in this Agreement and for other valuable consideration, the receipt and adequacy of which are
acknowledged, the parties agree to the following: 
 ARTICLE I 

DEFINITIONS 

Section 1.01. Definitions. The following definitions apply in this Agreement: 

“AAA” has the meaning specified in subsection 6.03(b)(i). 

“Account” means each Initial Account and each Additional Account. This term includes an Additional Account only from and
after the related Addition Date. This term does not include any Removed Account. This term does not include any Account from and after the date on which (i) all of its Receivables have been reassigned to WFBNA under
Section 6.01 or Section 6.02, or (ii) WFBNA has, in accordance with subsection 2.01(d), changed its entries in its books and records or computer files with respect to
such Account in connection with the sale of such Account as permitted by subsection 5.01(e). 
 “Account Schedule”
means a true and complete schedule of all Accounts that is attached to the Transfer Agreement and marked as Schedule 1 thereto. The Account Schedule may take the form of a computer file, or another tangible or electronic
medium that is commercially reasonable. The Account Schedule must identify each Account by its account identification number and all or a portion of the cardholder account number (or by an alpha-numeric identifier that uniquely and objectively
identifies the applicable Account pursuant to a protocol that has 

  
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been provided to Funding, the Issuer and the Indenture Trustee) and by the balance of the Receivables existing in that Account on the Closing Date (for each Initial Account) or the related
Addition Date (for each Additional Account) unless otherwise provided in subsection 2.01(e). 
 “Addition Date” has
the meaning, for an Additional Account, set forth in the related Supplemental Conveyance. 
 “Addition Representation Date”
means, as to any Additional Account, the date specified in the related Assignment; provided, that such Addition Representation Date shall not be more than 7 Business Days prior to the Addition Date specified in the related Assignment. 

“Additional Account” means each credit card account that is designated as an Account under
Section 2.02 and the related Supplemental Conveyance after the Closing Date and that is identified on the Account Schedule from and after the related Addition Date. The term “Additional Account” shall include any
Transferred Account relating to any such Additional Account. 
 “Affiliate” means, for any identified Person, any other
Person that (a) is an affiliate or insider of that identified Person, (b) controls that identified Person, (c) is controlled by that identified Person, or (d) is under common control with that identified Person. 

“Agreement” has the meaning specified in the first paragraph of this document. 

“Annual Membership Fee” means an annual membership fee or similar fee that is charged to an Account under the related Credit
Card Agreement. 
 “Business Day” means any day other than (a) a Saturday or a Sunday, or (b) any other day on
which national banking associations or state banking institutions in New York, New York, Wilmington, Delaware, Minneapolis, Minnesota or Charlotte, North Carolina, are authorized or obligated by law or executive order or governmental
decree to be closed. 
 “Cash Advance Fee” means a cash advance fee or similar fee that is charged to an Account under the
related Credit Card Agreement. 
 “Closing Date” means the opening of business on [________ __, ____]. 

“Collection Account” has the meaning specified in the Indenture. 

“Collections” means all payments on Receivables in the form of cash, checks, wire transfers, electronic transfers, ATM
transfers, or any other form of payment. This term includes Recoveries and Insurance Proceeds. 
 “Credit Card Agreement”
means, for any credit card account, the agreement (including any related statement under the Truth in Lending Act) between WFBNA and the related Obligor governing that account. 

  
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 “Credit Card Guidelines” means WFBNA’s policies and procedures
(a) relating to the operation of its credit card business, including its policies and procedures for determining the creditworthiness of credit card customers and for extending credit to credit card customers, and (b) relating to its
maintenance of credit card accounts and its collection of credit card receivables. 
 “Date of Processing” means, with
respect to any transaction, the date on which such transaction is first recorded on the Servicer’s computer master file of credit card accounts (without regard to the effective date of such recordation) and, with respect to Interchange, the
date on which any amount of Interchange is received by WFBNA. 
 “Debtor Relief Laws” means (a) the United States
Bankruptcy Code, (b) the Federal Deposit Insurance Act, and (c) all other insolvency, bankruptcy, conservatorship, receivership, liquidation, reorganization, or other debtor relief laws affecting the rights of creditors generally, or if
applicable, the rights of creditors of banks. 
 “Defaulted Account” means any Account containing only Receivables that
have been charged off as uncollectible under the Credit Card Guidelines and the Servicer’s customary and usual procedures for servicing credit card accounts. An Account becomes a Defaulted Account on the date on which all of its Receivables are
recorded as charged-off on the Servicer’s master computer file of credit card accounts. 

“Draft Fee” means a draft fee or similar fee that is charged to an Account under the related Credit Card Agreement. 

“Eligible Account” means any VISA®, Mastercard®, American Express®, or other major card payment network credit card account* for
which each of the following requirements is satisfied as of the Initial Representation Date, in the case of any Initial Account, or as of the related Addition Representation Date, in the case of any Additional Account: 

(a) it exists and is maintained by WFBNA; 

(b) its Receivables are payable in United States dollars; 

(c) the related Obligor’s most recent billing address is located in the United States of America or its territories or
possessions; 
 (d) it is not classified on WFBNA’s electronic records as (i) counterfeit, cancelled, fraudulent,
stolen, or lost or (ii) subject to a bankruptcy proceeding of the related Obligor; and 
 (e) all of its Receivables
have not been charged off as uncollectible under WFBNA’s customary and usual procedures for servicing credit card accounts. 
  

 

	* 	 VISA, Mastercard, and American Express are registered trademarks of Visa International Servicer Association,
MasterCard International Incorporated, and American Express Company, respectively. 

  
 3 

 “Eligible Receivable” means any Receivable for which each of the following
requirements is satisfied as of the applicable time: 
 (a) it arises in an Eligible Account; 

(b) it is created, in all material respects, in compliance with all Requirements of Law applicable to WFBNA, and it is created
under a Credit Card Agreement that complies, in all material respects, with all Requirements of Law applicable to WFBNA; 

(c) all consents, licenses, approvals, or authorizations of, or registrations or declarations with, any Governmental Authority
that are required for its creation or the execution, delivery, or performance of the related Credit Card Agreement have been obtained or made by WFBNA and are fully effective; 

(d) immediately prior to it being sold to Funding, WFBNA has good and marketable title to it free and clear of all Liens
arising through or under WFBNA or any of its Affiliates other than Funding, except for any Lien for municipal or other local taxes if those taxes are currently not due or if WFBNA is currently in good faith contesting those taxes in appropriate
proceedings and has set aside adequate reserves for those contested taxes; 
 (e) it is the legal, valid, and binding payment
obligation of the related Obligor and is enforceable against that Obligor in accordance with its terms, except as enforceability may be limited by Debtor Relief Laws or general principles of equity; 

(f) it is an account under Article 9 of the New York UCC; and 

(g) at the time of its transfer to Funding, WFBNA’s electronic records do not reflect any right of rescission, setoff,
counterclaim or any other defense of the Obligor (including the defense of usury), other than defenses arising out of Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether considered in a suit
at law or equity). 
 “Finance Charge Receivable” means any Receivable that is a Periodic Finance Charge, a Cash Advance
Fee, a Late Fee, an Annual Membership Fee, a Draft Fee, a Service Transaction Fee, or a similar fee or charge, including a charge for credit insurance. 

“Funding” has the meaning specified in the first paragraph of this Agreement. 

“Governmental Authority” means the United States of America or any individual State, any political subdivision of the United
States of America or any individual State, or any other entity exercising executive, legislative, judicial, regulatory, or administrative functions of or pertaining to government. 

  
 4 

 “Indenture” means the Indenture, dated as of [________ __, ____], among the
Issuer, Wells Fargo Bank, National Association, as paying agent and note registrar, and the Indenture Trustee, as the same may be amended, supplemented or otherwise modified from time to time. 

“Indenture Trustee” means U.S. Bank National Association, as Indenture Trustee under the Indenture. 

“Initial Account” means each credit card account that was designated on the Closing Date as an Account under the Transfer
Agreement and that is identified on the Account Schedule as an Account from and after the Closing Date. The term “Initial Account” shall include any Transferred Account related to any such Initial Account. 

“Initial Representation Date” means, with respect to each Initial Account, [________ __, ____]. 

“Insolvency Event” means, with respect to an entity: (a) (x) the commencement of an involuntary action seeking
(i) a decree or order for relief by a court having jurisdiction in the premises in respect of such Person in a case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization, or other similar law, (ii) the
appointment of a custodian, conservator, receiver, liquidator, assignee, trustee, sequestrator, or other similar official of such Person or (iii) the winding up or liquidation of such Person’s affairs, which in each case shall have
remained undischarged or unstayed for a period of ninety (90) consecutive days or (y) the entering of any order or decree providing the relief, remedy or other action described in any of clauses (i) through (iii); or (b) the
commencement by such Person of a voluntary case or proceeding under any applicable federal or state bankruptcy, insolvency, conservatorship, receivership, reorganization, or other similar law or of any other case or proceeding to be adjudicated a
bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of such Person in an involuntary case or proceeding under any applicable federal or state bankruptcy, insolvency, conservatorship, receivership,
reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable federal or state
law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, conservator, receiver, liquidator, assignee, trustee, sequestrator, or similar official of such Person or of any substantial part
of its property, or the making by it of an assignment for the benefit of creditors, or such Person’s failure to pay its debts generally as they become due, or the taking of corporate action by such Person in furtherance of any such action. 

“Insurance Proceeds” means, for any Receivable, all amounts recovered on that Receivable under a credit insurance policy
covering the related Obligor. 
 “Interchange” means the interchange fees and issuer rate fees payable to WFBNA, in its
capacity as credit card issuer, through VISA USA, Inc., Mastercard International Incorporated, American Express Company, or any other similar entity in connection with cardholder charges for goods or services with respect to the
Receivables, which are received by WFBNA on a daily basis, without taking into account any adjustments that may be made to such daily amounts 

  
 5 

 
received or, if not determinable as described, such other amount reasonably determined by WFBNA, in its sole discretion, to be the amount of Interchange that is generated by the Receivables
arising in the Accounts. WFBNA may, with notice to the Transferor, the Servicer and Moody’s from time to time modify the methodology for determining the amount of Interchange to more closely approximate the actual Interchange relating to the
Receivables. 
 “Involuntary Removal” has the meaning specified in subsection 2.03(b). 

“Issuer” means WF Card Issuance Trust, as issuer of the notes issued under the Indenture. 

“Late Fee” means a late fee or similar fee that is charged to an Account under the related Credit Card Agreement. 

“Lien” means any security interest, lien, mortgage, deed of trust, pledge, hypothecation, encumbrance, assignment,
participation interest, equity interest, deposit arrangement, preference, priority, or other security or preferential arrangement of any kind or nature. This term includes any conditional sale or other title retention arrangement and any financing
lease having substantially the same economic effect as any security or preferential arrangement. This term does not include any security interest or other lien created under the Transfer Agreement or this Agreement. 

“Majority Holders” has the meaning specified in the Indenture. 

“Moody’s” means Moody’s Investors Service, Inc., or any successor thereto. 

“Note Owner” has the meaning specified in the Indenture. 

“Note Rating Agency” means each nationally recognized statistical rating organization that is selected by Funding to rate any
security issued by the Issuer. 
 “Noteholder” has the meaning specified in the Indenture. 

“Obligor” means, for any credit card account, any Person obligated to make payments on receivables in that account. This term
includes any guarantor but excludes any merchant. 
 “Officer’s Certificate” means a certificate delivered to Funding
and signed by any Vice President or more senior officer of WFBNA. 
 “Owner Trustee” means Wilmington Trust, National
Association, a national banking association, not in its individual capacity, but solely as owner trustee of the Issuer, together with its permitted successors and assigns. 

“Periodic Finance Charge” means a finance charge determined by periodic rate or similar charge that is charged to an Account
under the related Credit Card Agreement. 

  
 6 

 “Person” means any person or entity of any nature. This term includes any
individual, corporation, limited liability company, partnership, limited partnership, limited liability partnership, joint venture, association, joint-stock company, trust, unincorporated organization, or
Governmental Authority. 
 “Pool Portfolio Number File” means the file on WFBNA’s computer system and/or the table in
the Securitization Data Store (SDS) that identifies the Accounts. 
 “Principal Receivable” means any Receivable other than
a Finance Charge Receivable. In calculating the aggregate amount of Principal Receivables in an Account on any date, the gross amount of Principal Receivables in the Account on that date must be reduced by the aggregate amount of credit balances in
the Account on that date. 
 “Purchase Price” has the meaning specified in subsection 3.01(a).

 “Purchase Price Adjustment” has the meaning specified in subsection 3.02(a). 

“Purchase Price Payment Date” has the meaning specified in subsection 3.01(c). 

“Purchased Assets” has the meaning specified in subsection 2.01(a). 

“Qualified Dispute Resolution Professional” means an attorney or retired judge that is independent, impartial, and
knowledgeable about and experienced with the laws of the State of New York, specializing in commercial litigation with at least 15 years of experience and whose name is on a list of neutral parties maintained by the AAA. 

“Rating Agency Condition” means, with respect to any action subject to such condition, (i) that each Note Rating Agency
shall have notified Funding in writing that the proposed action will not result in a reduction or withdrawal of its ratings on any outstanding securities issued by the Issuer or (ii) if at such time any Note Rating Agency has informed Funding
that such Note Rating Agency does not provide such written notifications for transactions of this type, then as to such Note Rating Agency Funding shall deliver written notice of the proposed action to such Note Rating Agency at least ten
(10) Business Days’ prior to the effective date of such action (or such shorter period as specified in the relevant Transaction Document provision). 

“Reassigned Assets” has the meaning specified in subsection 2.03(a). 

“Reassignment” has the meaning specified in subsection 2.03(a). 

“Receivable” means any amount payable on an Account by the related Obligors. This term includes Principal Receivables and
Finance Charge Receivables. 
 “Recoveries” means amounts recovered in respect of Receivables that have previously been
charged off as uncollectible; provided that if any amount so recovered relates to both Receivables that have previously been charged off as uncollectible and other receivables, and if it cannot be determined with objective certainty whether
such amount relates to Receivables that have previously been charged off as uncollectible or other receivables, the term Recoveries means the amount reasonably estimated by WFBNA as having been recovered in respect of Receivables that

  
 7 

 
have previously been charged off as uncollectible; and provided further that if WFBNA and Funding cannot determine whether a recovered amount relates to a Receivable that was sold
to Funding or to a receivable that has not been sold to Funding, this term means the amount reasonably estimated by WFBNA and Funding as having been recovered on the Receivable that was sold to Funding. 

“Removal Date” has the meaning specified in subsection 2.03(a)(i). 

“Removed Accounts” has the meaning specified in subsection 2.03(a). 

“Representing Party” has the meaning specified in subsection 6.03(a). 

“Requesting Party” has the meaning specified in subsection 6.03(a). 

“Requirements of Law” means, for any Person, (a) any certificate of incorporation, certificate of formation, articles of
association, bylaws, limited liability company agreement, or other organizational or governing documents of that Person and (b) any law, treaty, statute, regulation, or rule, or any determination by a Governmental Authority or arbitrator, that
is applicable to or binding on that Person or to which that Person is subject. This term includes usury laws, the Truth in Lending Act, and Regulation Z and Regulation B of the Board of Governors of the Federal Reserve System. 

“Rules” has the meaning specified in subsection 6.03(b)(i). 

“Service Transaction Fee” means a service transaction fee or similar fee that is charged to an Account under the related
Credit Card Agreement. 
 “Servicer” means the Person acting, as Servicer, under the Servicing Agreement. 

“Servicing Agreement” means the Servicing Agreement, dated as of [________ __, ____], among the Issuer, Funding and WFBNA, as
Servicer as the same may be amended, supplemented or otherwise modified from time to time. 
 “Supplemental Conveyance” has
the meaning specified in subsection 2.02(b)(v). 
 “Transaction Documents” has the meaning
specified in the Indenture. 
 “Transfer Agreement” means the Transfer Agreement, dated as of [________ __, ____], between
Funding and WF Card Issuance Trust, as the same may be amended, supplemented or otherwise modified from time to time. 
 “Transfer
Restriction Event” means any event that prevents WFBNA from selling Receivables to Funding under this Agreement. This term includes any Insolvency Event with respect to WFBNA or any order of a Governmental Authority that has this effect.

  
 8 

 “Transferor” has the meaning specified in the Indenture. 

“Transferred Account” means any VISA,® Mastercard,® American Express,® or other major card payment network credit card account (a) into which all of the Receivables in an Account are
transferred because the related credit card was lost or stolen or the related credit card program was changed, if the Credit Card Guidelines do not require a new application or credit evaluation, and (b) that can be traced or identified by
reference to the Account Schedule and the computer or other records of the Servicer. 
 “UCC” means the Uniform Commercial
Code of the applicable jurisdiction. 
 “United States Arbitration Act” means the United States Arbitration Act of 1925, as
amended. 
 “Verified Note Owner” means either (a) a Note Owner that has provided the Representing Party written
certification that it is a Note Owner and one other form of documentation, such as a trade confirmation, an account statement, a letter from such Note Owner’s broker or dealer, or another similar document, or (b) any Noteholder. 

“WFBNA” has the meaning specified in the first paragraph of this Agreement. 

“Zero Balance Account” means an Account with a Receivables balance of zero. 

Section 1.02. Other Definitional Provisions; Rules of Construction (a) All terms defined in this Agreement shall have the
defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. 

(b) As used herein and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not
defined herein, and accounting terms partially defined herein to the extent not defined, shall have the respective meanings given to them under generally accepted accounting principles or regulatory accounting principles, as applicable. To the
extent that the definitions of accounting terms herein are inconsistent with the meanings of such terms under generally accepted accounting principles or regulatory accounting principles, the definitions contained herein shall control. The term
“generally accepted accounting principles” with respect to any computation required or permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date of such computation. 

(c) The words “hereof,” “herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement; and Section, subsection, Schedule and Exhibit references contained in this Agreement are references to Sections, subsections, Schedules and
Exhibits in or to this Agreement unless otherwise specified. The term “including” and words of similar import will be deemed to be followed by “without limitation.” The canon of ejusdem generis may be applied only in the
context of this Agreement’s purpose and not merely in the context of a particular phrase. 

  
 9 

 (d) A reference to any law is to that law as amended or supplemented to the
applicable time. A reference to any agreement, document, policy, or procedure is to that agreement, document, policy, or procedure as amended or supplemented to the applicable time. A reference to any Person includes that Person’s successors
and permitted assigns. Wherever from the context it appears appropriate, each term defined in either the singular or the plural form incorporates both the singular and the plural form of such term. 

  
 10 

 ARTICLE II 

PURCHASE AND SALE OF RECEIVABLES 

Section 2.01. Purchase and Sale. 

(a) In consideration of Funding’s payment of each related Purchase Price, WFBNA hereby sells and assigns to Funding, without recourse,
all of WFBNA’s right, title and interest in, to, and under (i) the Receivables existing on the Closing Date and arising after the Closing Date in each Initial Account, and the Receivables existing on the related Addition Date and arising
after that Addition Date in each Additional Account, (ii) all monies due or to become due with respect to such Receivables (including all Finance Charge Receivables), (iii) all Interchange, Insurance Proceeds, and Recoveries allocable to the
Receivables, (iv) all Collections on the Receivables, and (v) all proceeds of any of the foregoing property (collectively, the “Purchased Assets”). Funding hereby accepts the Purchased Assets sold under this Agreement.

 (b) Principal Receivables in each Initial Account that exist on the Closing Date, and the related Finance Charge Receivables and other
related Purchased Assets, are sold by WFBNA and purchased by Funding on the Closing Date. Principal Receivables in each Initial Account that arise after the Closing Date, and the related Finance Charge Receivables and other related Purchased Assets,
are sold by WFBNA and purchased by Funding on the date on which those Principal Receivables arise. Principal Receivables in each Additional Account that exist on the related Addition Date, and the related Finance Charge Receivables and other related
Purchased Assets, are sold by WFBNA and purchased by Funding on that Addition Date. Principal Receivables in each Additional Account that arise after the related Addition Date, and the related Finance Charge Receivables and other related Purchased
Assets, are sold by WFBNA and purchased by Funding on the date on which those Principal Receivables arise. 
 (c) WFBNA does hereby
authorize the filing of all financing statements, amendments of financing statements, and continuation statements that are necessary or appropriate to perfect, or to maintain the perfection of, WFBNA’s sale of the Purchased Assets, and shall
timely file all such financing statements, amendments of financing statements, and continuation statements pursuant to subsection 5.01(f) of this Agreement and deliver to Funding copies of such documentation. These financing statements,
amendments of financing statements, and continuation statements must name the seller of the Purchased Assets, WFBNA, as debtor, U.S. Bank National Association, as Indenture Trustee, as secured party under the Indenture, the Issuer as the ultimate
buyer and assignor secured party under the Transfer Agreement and the Indenture, respectively, and Funding as the intermediate buyer and assignor secured party under this Agreement and the Transfer Agreement, respectively. WFBNA must deliver to
Funding a file-stamped copy or other evidence of such filing of each of these financing statements, amendments of financing statements, and continuation statements as soon as practicable after filing. All acts required of WFBNA in this paragraph
must be taken at WFBNA’s own expense. 
 (d) On or prior to the Closing Date, WFBNA must mark its books, records, and computer files to
make clear that the Receivables arising in the Initial Accounts and the related Purchased Assets have been sold to Funding under this Agreement and, transferred to the Issuer under the Transfer Agreement and pledged by the Issuer to the Indenture
Trustee under the 

  
 11 

 
Indenture. On or prior to each Addition Date, WFBNA must mark its books, records, and computer files to make clear that the Receivables arising in the related Additional Accounts and the related
Purchased Assets have been sold to Funding under this Agreement, transferred to the Issuer under the Transfer Agreement and pledged by the Issuer to the Indenture Trustee under the Indenture. When a Transferred Account is created, WFBNA must mark
its books, records, and computer files to make clear that the Receivables arising in that Transferred Account and the related Purchased Assets have been sold to Funding under this Agreement, transferred to the Issuer under the Transfer Agreement and
pledged to the Indenture Trustee under the Indenture. In connection with such marking of its books, records and computer files, WFBNA shall also identify all such Accounts in the Pool Portfolio Number File with the designation “901”,
“902”, “903”, “904” or “905”. WFBNA may not change any of these markings or entries in its books, records, or computer files or designation identifying any Account in the Pool Portfolio Number File, in each
case relating to an Account unless and until (i) that Account becomes a Removed Account or (ii) WFBNA has taken all actions that are necessary or appropriate to maintain the perfection and the priority of Funding’s ownership interest
in the related Purchased Assets. All acts required of WFBNA in this paragraph must be taken at WFBNA’s own expense. 
 (e) On or prior
to the Closing Date, WFBNA must deliver to Funding the initial Account Schedule (which initial Account Schedule may omit the balance of the Receivables existing in each Account on the Closing Date). Not later than three (3) Business Days
following the Closing Date, WFBNA must deliver to Funding an updated Account Schedule (which identifies any Transferred Accounts that were created during the intervening period). On or prior to each Addition Date, WFBNA must deliver to Funding an
Account Schedule that identifies the related Additional Accounts (which Account Schedule may omit the balance of the Receivables existing in each Additional Account on the related Addition Date). Not later than three (3) Business Days following
the related Addition Date, WFBNA must deliver to Funding an updated Account Schedule (which identifies any Transferred Accounts that were created during the intervening period). On or prior to each Removal Date, WFBNA must deliver to Funding an
Account Schedule that identifies the related Removed Accounts (which Account Schedule may omit the balance of the Receivables existing in each Removed Account on the related Removal Date). Not later than three (3) Business Days following the
related Removal Date, WFBNA must deliver to Funding an updated Account Schedule (which identifies any Transferred Accounts that were created during the intervening period). Promptly after a request from Funding, and at least once every two
(2) months regardless of whether a request is made by Funding, WFBNA must deliver to Funding an updated Account Schedule that identifies all Transferred Accounts that were created during the applicable period. All acts required of WFBNA in this
paragraph must be taken at WFBNA’s own expense. 
 (f) The parties intend that the transfer of the Purchased Assets by WFBNA to Funding
be an absolute sale conveying good title, free and clear of any liens, claims, encumbrances or rights of others, from WFBNA to Funding, and not a secured borrowing. If the transaction under this Agreement were determined to be a secured borrowing or
other loan rather than an absolute sale despite this expressly stated intent of the parties, then this Agreement shall constitute a security agreement under applicable law, and WFBNA shall be deemed to have granted, and does hereby grant to Funding
a first priority security interest in all of WFBNA’s right, title, and interest, whether now owned or hereafter acquired, in, to, and under the Purchased Assets 

  
 12 

 
to secure WFBNA’s obligations under this Agreement. This grant is a protective measure and must not be construed as evidence of any intent contrary to the one expressed in this paragraph.

 Section 2.02. Addition of Accounts. 

(a) Funding may be obligated to designate additional accounts under subsection 2.06(a) of the Transfer Agreement or
may elect to designate additional accounts under subsection 2.06(b) of the Transfer Agreement. In either case, Funding may require that WFBNA designate Additional Accounts under this Agreement to enable Funding to satisfy
that obligation or election. Funding must give WFBNA notice of this requirement to designate Additional Accounts under this Agreement at least four Business Days prior to the related Addition Date. If WFBNA fails to designate Additional Accounts in
compliance with that notice only because sufficient credit card accounts are not available to WFBNA, that failure will not be a breach of this Agreement. 

(b) On each Addition Date, the related Additional Accounts will become Accounts if the following conditions have been satisfied: 

(i) on or prior to that Addition Date, WFBNA must have filed all financing statements, amendments of financing statements, and
continuation statements that are required under subsection 2.01(c); 
 (ii) on or prior to that
Addition Date, WFBNA must have marked its books, records, and computer files to make clear that the Receivables arising in those Additional Accounts and the related Purchased Assets have been sold to Funding under this Agreement, transferred to the
Issuer under the Transfer Agreement and pledged to the Indenture Trustee under the Indenture as provided in subsection 2.01(d); 

(iii) on or prior to that Addition Date, WFBNA must have delivered to Funding an updated Account Schedule that identifies those
Additional Accounts as provided in subsection 2.01(e); 
 (iv) on that Addition Date, WFBNA must have delivered to
Funding an Officer’s Certificate of WFBNA, dated that Addition Date, certifying that the applicable representations and warranties described in Sections 4.01 and 4.02 are true and correct; and 

(v) on that Addition Date, WFBNA and Funding must have executed a written assignment covering the related Purchased Assets,
substantially in the form of Exhibit A (the “Supplemental Conveyance”). 
 Section 2.03.
Removal of Accounts. 
 (a) From time to time, WFBNA may request (which request Funding may deny) the reassignment to it or its
designee of all Funding’s right, title and interest in, to 

  
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and under (i) the Receivables existing on a specified Removal Date (as defined below) and arising after that Removal Date in one or more specified Accounts (the “Removed
Accounts”), (ii) all monies due or to become due with respect to such Receivables (including all Finance Charge Receivables) in such Removed Accounts, (iii) all Interchange, Insurance Proceeds, and Recoveries allocable to such
Receivables in such Removed Accounts, (iv) all Collections on such Receivables in such Removed Accounts, and (v) all proceeds of any of the foregoing property (collectively, the “Reassigned Assets”). Any such reassignment
shall be subject to the satisfaction of the following conditions: 
 (i) on or before the day immediately preceding the
desired Removal Date, WFBNA shall have given Funding written notice of such removal and specifying the date for removal of the Removed Accounts (the “Removal Date”); 

(ii) Funding shall have delivered its written consent for such removal to WFBNA; 

(iii) on or prior to the Removal Date, WFBNA shall have delivered to Funding an Account Schedule listing the Removed Accounts;
and 
 (iv) except in the case of any Involuntary Removal, WFBNA shall have delivered to Funding an Officer’s
Certificate, dated as of the Removal Date, to the effect that no selection procedure reasonably believed by WFBNA to be materially adverse to the interests of Funding or any of Funding’s creditors has been used in removing Removed Accounts from
among any pool of Accounts of a similar type. 
 Upon satisfaction of the above conditions (and subject to Funding’s agreement, except
in the case of Involuntary Removals, and receipt by Funding of the reassignment price agreed upon between Funding and WFBNA), Funding shall execute and deliver to WFBNA or its designee a written reassignment in substantially the form of Exhibit
B (the related “Reassignment”) and shall, without further action, thereby sell and assign to WFBNA or its designee, effective as of the related Removal Date, without recourse, representation or warranty, all of Funding’s
right, title and interest in, to and under the Reassigned Assets arising in the Removed Accounts. In addition, Funding shall execute such other documents and instruments of transfer or assignment and take such other actions as shall reasonably be
requested by WFBNA to effect the conveyance of Reassigned Assets arising in Removed Accounts pursuant to this subsection 2.03(a). Any repurchase of the Reassigned Assets in Removed Accounts designated pursuant to this subsection
2.03(a) and a related Reassignment shall be effected at a purchase price equal to the fair market value of such Reassigned Assets relating to such Removed Accounts as of the Removal Date as agreed upon by the Issuer and WFBNA prior to such sale.

 (b) WFBNA may from time to time, by complying with subsection 2.03(a)(i)–(iii), designate as Removed Accounts any Accounts
identified for purchase by a third party in connection with an affinity or private label arrangement with WFBNA pursuant to the terms of the related credit card program agreement (each, an “Involuntary Removal”). Any repurchase of
the Reassigned Assets in Removed Accounts designated pursuant to this subsection 2.03(b) and a related Reassignment shall be effected at a purchase price equal to the fair market value of such

  
 14 

 
Reassigned Assets relating to such Removed Accounts in such Involuntary Removal as of the Removal Date as agreed upon by the Issuer and WFBNA prior to such sale. 

(c) WFBNA may from time to time, at its option, by notice to Issuer, designate as a Removed Account any Zero Balance Account. On or prior to
the Removal Date for any Zero Balance Accounts, WFBNA shall have delivered to Funding an Account Schedule listing the Zero Balance Accounts that are to become Removed Accounts. 

  
 15 

 ARTICLE III 

CONSIDERATION AND PAYMENT 

Section 3.01. Purchase Price. 

(a) Funding must pay to WFBNA each purchase price described in this Article III (a “Purchase
Price”) in return for the related Purchased Assets. Notwithstanding any other provision of this Agreement, WFBNA is not obligated to sell Principal Receivables, and the related Finance Charge Receivables and other Purchased Assets, to
Funding to the extent that Funding does not pay WFBNA the related Purchase Price. 
 (b) The Purchase Price for the Principal Receivables in
each Initial Account that exist on the Closing Date and the Finance Charge Receivables and other Purchased Assets, is an amount equal to 100% of the aggregate balance of the Principal Receivables and Finance Charge Receivables existing in that
Initial Account on the Closing Date, adjusted to reflect the factors that WFBNA and Funding mutually determine will result in a Purchase Price that is equal to the fair market value of those Principal Receivables and the related Finance Charge
Receivables and other Purchased Assets. This Purchase Price is payable by Funding to WFBNA in immediately available funds not later than the second Business Date following the Closing Date. 

(c) The Purchase Price for the Principal Receivables in each Initial Account that arise on or after the Closing Date, and the related Finance
Charge Receivables and other Purchased Assets, is an amount equal to 100% of the aggregate balance of those Principal Receivables, adjusted to reflect the factors that WFBNA and Funding mutually determine will result in a Purchase Price that is
equal to the fair market value of those Principal Receivables and the related Finance Charge Receivables and other Purchased Assets. This Purchase Price is payable by Funding to WFBNA in immediately available funds on each date (a “Purchase
Price Payment Date”) mutually selected by WFBNA and Funding, but the Purchase Price Payment Date for any Principal Receivable and the related Finance Charge Receivables and other Purchased Assets must not be later than the fifth Business
Day following the calendar month in which that Principal Receivable arises. 
 (d) The Purchase Price for the Principal Receivables in each
Additional Account that exist on the related Addition Date, and the related Finance Charge Receivables and other Purchased Assets, is an amount equal to 100% of the aggregate balance of those Principal Receivables and the Finance Charge Receivables
existing in that Additional Account on that Addition Date, adjusted to reflect the factors that WFBNA and Funding mutually determine will result in a Purchase Price that is equal to the fair market value of those Principal Receivables and the
related Finance Charge Receivables and other Purchased Assets. This Purchase Price is payable by Funding to WFBNA in immediately available funds not later than the second Business Date following the Addition Date. 

(e) The Purchase Price for the Principal Receivables in each Additional Account that arise after the related Addition Date, and the related
Finance Charge Receivables and other Purchased Assets, is an amount equal to 100% of the aggregate balance of those Principal 

  
 16 

 
Receivables, adjusted to reflect the factors that WFBNA and Funding mutually determine will result in a Purchase Price that is equal to the fair market value of those Principal Receivables and
the related Finance Charge Receivables and other Purchased Assets. This Purchase Price is payable by Funding to WFBNA in immediately available funds on the related Purchase Price Payment Date, but the Purchase Price Payment Date for any Principal
Receivable and the related Finance Charge Receivables and other Purchased Assets must not be later than the fifth Business Day following the calendar month in which that Principal Receivable arises. 

(f) No determination of fair market value under this Section 3.01 can assume any purchase by Funding of Principal
Receivables arising in the future or the related Finance Charge Receivables and other Purchased Assets. 
 Section 3.02. Adjustments
to Purchase Price. 
 (a) The Purchase Price payable on any Purchase Price Payment Date will be reduced (a “Purchase Price
Adjustment”) if, since the immediately preceding Purchase Price Payment Date, a Principal Receivable previously sold to Funding has been reduced by WFBNA or the Servicer (i) because of a rebate, refund, charge back, unauthorized
charge, billing error to the related Obligors, or adjustment (other than by reason of any Servicer error), or (ii) as a result of a fraudulent or counterfeit charge. The amount of that Purchase Price Adjustment is equal to the amount by which
that Principal Receivable has been reduced. A Purchase Price Adjustment must not be made for any recalculation that is caused by the Servicer’s breach of its obligations under the Servicing Agreement. 

(b) If a Purchase Price Adjustment causes the Purchase Price to be a negative number, WFBNA must pay to Funding in immediately available funds
on the related Purchase Price Payment Date an amount equal to the amount by which the Purchase Price Adjustment exceeds the unadjusted Purchase Price. If that Purchase Price Adjustment also requires Funding to compensate the Issuer under
subsection 2.02(e) of the Transfer Agreement, the date by which Funding is required to do so must be a Purchase Price Payment Date. 

Section 3.03. Use of Name, Logo and Marks. To the extent of its interest, WFBNA hereby grants to Funding a non-exclusive license to use the name “Wells Fargo”, “WFBNA,” “Wells Fargo Bank, National Association,” and all related identifying trade or service marks, signs, symbols, logos, and
designs but only for use in servicing the Receivables and only for use in a manner that is consistent with the guidelines provided by WFBNA to Funding from time to time. Further, to the extent of its interest, WFBNA hereby grants to Funding a non-exclusive license to use all related servicing software but only for use in servicing the Receivables and only for use in a manner that is consistent with the guidelines provided by WFBNA to Funding from time to
time. And further, to the extent of its interest, WFBNA hereby grants to Funding a non-exclusive license to use all related customer lists and other intangibles but only for use in servicing the Receivables
and only for use in a manner that is consistent with the guidelines provided by WFBNA to Funding from time to time. These licenses are co-extensive with the term of this Agreement and, subject to their
limitations, may be assigned to any servicer engaged by Funding in a securitization of the Receivables. 

  
 17 

 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

Section 4.01. Representations and Warranties of WFBNA Relating to WFBNA. 

(a) On the Closing Date and each Addition Date, WFBNA represents and warrants to Funding as follows: 

(i) WFBNA is a duly organized national banking association validly existing and in good standing under the laws of the United
States of America and has, in all material respects, full power and authority to own its assets and operate its credit card business as presently owned or operated, and to execute, deliver, and perform its obligations under this Agreement. WFBNA is
not organized under the laws of any other jurisdiction. 
 (ii) WFBNA is duly qualified to do business (or is exempt from
such requirements) as a foreign corporation and has obtained all necessary licenses and approvals, in each jurisdiction in which failure to so qualify or to obtain such licenses and approvals would have a material adverse effect on WFBNA or the
transactions contemplated by, or its ability to perform its obligations under, this Agreement. 
 (iii) WFBNA has duly
authorized, by all necessary action, its execution and delivery of this Agreement and any related Supplemental Conveyance and its consummation of the transactions contemplated by this Agreement and any related Supplemental Conveyance and this
Agreement will remain, from the time of its execution, an official record of WFBNA. 
 (iv) WFBNA’s execution and
delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related
Supplemental Conveyance do not conflict with, breach any material term of, or cause a material default under (with or without notice or lapse of time or both) any indenture, contract, agreement, mortgage, deed of trust, or other instrument to which
WFBNA is a party or by which WFBNA or any of its properties are bound, except where such breach or default could not be reasonably expected to materially and adversely affect WFBNA’s ability to perform its obligations under this Agreement. 

(v) WFBNA’s execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the
transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with or violate any Requirement of Law applicable to
WFBNA, except where such conflict or violation 

  
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could not be reasonably expected to materially and adversely affect WFBNA’s performance of its obligations under this Agreement. 

(vi) No proceeding or investigation against WFBNA is pending or, to the best of WFBNA’s knowledge, threatened before any
Governmental Authority that (A) asserts that this Agreement or any related Supplemental Conveyance is invalid, (B) seeks to prevent the consummation of any transaction contemplated by this Agreement or any related Supplemental Conveyance,
(C) seeks any determination or ruling that, in WFBNA’s reasonable judgment, would materially and adversely affect WFBNA’s performance under this Agreement or any related Supplemental Conveyance, or (D) seeks any determination or
ruling that would materially and adversely affect the validity or enforceability of this Agreement or any related Supplemental Conveyance. 

(vii) WFBNA has obtained all approvals, authorizations, licenses, consents, and orders required of any Governmental Authority
in connection with WFBNA’s execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the
terms of this Agreement and any related Supplemental Conveyance. 
 (viii) No Insolvency Event relating to WFBNA has occurred
and is continuing. 
 (ix) WFBNA’s home office is located at 101 N. Phillips Avenue, Sioux Falls, SD, 57104. 

(b) The representations and warranties set forth in this Section 4.01 will survive the sale of the Purchased Assets
to Funding. If WFBNA or Funding discovers a breach of any of these representations and warranties, the party discovering that breach must give prompt notice to the other party and the Indenture Trustee. 

Section 4.02. Representations and Warranties of WFBNA Relating to the Agreement and the Receivables. 

(a) On the Closing Date, in the case of any Initial Account and the related Receivables, and on each Addition Date, in the case of any related
Additional Account and the related Receivables, WFBNA represents and warrants to Funding as follows: 
 (i) This Agreement
and any related Supplemental Conveyance constitute the legal, valid, and binding obligations of WFBNA enforceable against WFBNA in accordance with their terms, except as enforceability may be limited by Debtor Relief Laws or general principles of
equity. 
 (ii) This Agreement and any related Supplemental Conveyance effect a valid sale and assignment to Funding of the
related Receivables, and that sale is perfected under the UCC. 

  
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 (iii) No selection procedures adverse to Funding or any of its transferees
have been employed by WFBNA (1) as of the Initial Representation Date, in the selection of the Initial Accounts or (2) as of each applicable Addition Representation Date, in the selection of the Additional Accounts designated on such
Addition Date. 
 (iv) Each related Receivable existing on the Closing Date, in the case of any Initial Account, or existing
as of the related Addition Date, in the case of any Additional Account, is sold to Funding free and clear of any Lien arising through or under WFBNA or any of its Affiliates other than Funding, except for any Lien for municipal or other local taxes
if those taxes are currently not due or if WFBNA is currently in good faith contesting those taxes in appropriate proceedings and has set aside adequate reserves for those contested taxes. 

(v) Each related Receivable arising after the Closing Date, in the case of any Initial Account, or after the related Addition
Date, in the case of any Additional Account, is sold to Funding free and clear of any Lien arising through or under WFBNA or any of its Affiliates other than Funding, except for any Lien for municipal or other local taxes if those taxes are
currently not due or if WFBNA is currently in good faith contesting those taxes in appropriate proceedings and has set aside adequate reserves for those contested taxes. 

(vi) WFBNA’s sale to Funding of each related Receivable existing on the Closing Date, in the case of any Initial Account,
or existing on the related Addition Date, in the case of any Additional Account, was entered into in the ordinary course of business, not in contemplation of insolvency and with no intent to hinder, delay or defraud WFBNA or its creditors. 

(vii) WFBNA’s sale to Funding of each related Receivable arising after the Closing Date, in the case of any Initial
Account, or after the related Addition Date, in the case of any Additional Account, was entered into in the ordinary course of business, not in contemplation of insolvency and with no intent to hinder, delay or defraud WFBNA or its creditors. 

(viii) All consents, licenses, approvals, or authorizations of, or registrations or declarations with, any Governmental
Authority that are required in connection with WFBNA’s sale of each related Receivable to Funding have been obtained or made by WFBNA and are fully effective. 

(ix) The Account Schedule identifies all of the existing Accounts. 

(x) As of the Initial Representation Date in the case of any Initial Account, or as of the related Addition Representation
Date, in the case of any Additional Account, the related Account is an Eligible Account. 
 (xi) As of (1) the Closing
Date, in the case of the Initial Accounts, each Receivable existing in that Account on the Closing Date is an Eligible Receivable and 

  
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(2) the related Addition Date, in the case of any Additional Account, each Receivable existing in that Account is an Eligible Receivable. 

(xii) On any date after the Closing Date, in the case of any Initial Account, or after the related Addition Date, in the case
of any Additional Account, on which any new Receivable is created, that Receivable is an Eligible Receivable. 
 (b) The representations and
warranties set forth in this Section 4.02 will survive the sale of the Purchased Assets to Funding. If WFBNA or Funding discovers a breach of any of these representations and warranties, the party discovering that breach
must give prompt notice to the other party, the Issuer and the Indenture Trustee. WFBNA acknowledges that Funding will rely on these representations and warranties in making its own representations and warranties to its transferees, including the
Issuer and that the Issuer will rely on these representations and warranties in making its own representations and warranties to its pledgees, including the Indenture Trustee, and WFBNA consents to that reliance. 

Section 4.03. Representations and Warranties of Funding. 

(a) On the Closing Date and each Addition Date, Funding represents and warrants to WFBNA as follows: 

(i) Funding is a limited liability company duly formed, validly existing and in good standing under the laws of the State of
Delaware. Funding has full power and authority, in all material respects, to own its properties as currently owned, to conduct its business as currently conducted, and to execute, deliver, and perform its obligations under this Agreement. 

(ii) Funding is duly qualified to do business (or is exempt from such requirements) as a foreign corporation or foreign limited
liability company and has obtained all necessary licenses and approvals, in each jurisdiction in which failure to so qualify or to obtain such licenses and approvals would have a material adverse effect on Funding or the transactions contemplated
by, or its ability to perform its obligations under, this Agreement. 
 (iii) Funding has duly authorized, by all necessary
limited liability company action, its execution and delivery of this Agreement and any related Supplemental Conveyance and its consummation of the transactions contemplated by this Agreement and any related Supplemental Conveyance. 

(iv) Funding’s execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the
transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with, breach any term of, or cause a default under (with
or without notice or lapse of time or both) any indenture, contract, agreement, mortgage, deed of trust, or other instrument to which Funding is a party or by which Funding or any of its properties are bound, except where

  
 21 

 
such breach or default could not be reasonably expected to materially and adversely affect Funding’s ability to perform its obligations under this Agreement. 

(v) Funding’s execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the
transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of the terms of this Agreement and any related Supplemental Conveyance do not conflict with or violate any Requirement of Law applicable to
Funding, expect where such conflict or violation could not be reasonably expected to materially and adversely affect Funding’s performance of its obligations under this Agreement. 

(vi) No proceeding or investigation against Funding is pending or, to the best of Funding’s knowledge, threatened before
any Governmental Authority that (A) asserts that this Agreement or any related Supplemental Conveyance is invalid, (B) seeks to prevent the consummation of any transaction contemplated by this Agreement or any related Supplemental
Conveyance, (C) seeks any determination or ruling that, in Funding’s reasonable judgment, would materially and adversely affect Funding’s performance under this Agreement or any related Supplemental Conveyance, or (D) seeks any
determination or ruling that would materially and adversely affect the validity or enforceability of this Agreement or any related Supplemental Conveyance. 

(vii) Funding has obtained all approvals, authorizations, licenses, consents, and orders required of any Governmental Authority
in connection with Funding’s execution and delivery of this Agreement and any related Supplemental Conveyance, its performance of the transactions contemplated by this Agreement and any related Supplemental Conveyance, and its fulfillment of
the terms of this Agreement and any related Supplemental Conveyance. 
 (viii) No Insolvency Event relating to Funding has
occurred and is continuing. 
 (b) The representations and warranties set forth in this Section 4.03 will survive
the sale of the Purchased Assets to Funding. If WFBNA or Funding discovers a breach of any of these representations and warranties, the party discovering that breach must give prompt notice to the other party and the Indenture Trustee. 

  
 22 

 ARTICLE V 

COVENANTS 
 Section 5.01.
Covenants of WFBNA. WFBNA covenants to do the following: 
 (a) Except in enforcing or collecting an Account, WFBNA will take no
action that results in any Receivable not being an account under Article 9 of the New York UCC, and therefore, WFBNA will take no action that results in any Receivable being an instrument or chattel paper under Article 9 of the New York
UCC. If WFBNA breaches this covenant, WFBNA must repurchase the related Receivable as though it qualified for repurchase under Section 6.01. 

(b) Except for the sale to Funding under this Agreement, or, with respect to the Receivables in any Account that became a Defaulted Account,
WFBNA will not (i) sell, assign, or transfer any Receivable to any other Person, (ii) take any other action that is inconsistent with the ownership of each Receivable by Funding or its transferee, or (iii) grant, create, incur,
assume, or suffer to exist any Lien arising through or under WFBNA on any Receivable, except for any Lien for municipal or other local taxes if those taxes are currently not due or if WFBNA is currently in good faith contesting those taxes in
appropriate proceedings and has set aside adequate reserves for those contested taxes. WFBNA will not claim any interest in any Receivable and will defend the ownership interest of Funding or its transferee in each Receivable against any third party
claiming through or under WFBNA. 
 (c) If a Transfer Restriction Event occurs, WFBNA must continue to allocate and pay to Funding all
Collections on the Receivables that previously were sold to Funding unless prohibited from doing so by any Governmental Authority or Requirement of Law. If WFBNA and Funding cannot determine whether collections relate to a Receivable that was sold
to Funding or to a receivable that cannot be sold to Funding, WFBNA must allocate payments on the related Account proportionately based on the total amount of Principal Receivables in that Account then owned by Funding or any transferee through it
and the total amount of principal receivables in that Account then owned by WFBNA. WFBNA will acknowledge that Funding or transferees through it continue to own all Principal Receivables that were sold to Funding prior to the Transfer Restriction
Event, all Collections on those Principal Receivables, all Finance Charge Receivables that accrue on those Principal Receivables regardless of when they arise, and all Collections on those Finance Charge Receivables. 

(d) If WFBNA, in its individual capacity, as opposed to in its capacity as servicer under the Servicing Agreement, receives Collections on any
Receivable and/or any amount of Interchange with respect to any Receivable, WFBNA shall, as promptly as possible after the Date of Processing of such Collections and/or such Interchange, as applicable, but in no event later than the second Business
Day following such Date of Processing, deliver such Collections and/or such Interchange to Funding or, if Funding directs, to its designee or agent. In connection with this covenant, WFBNA acknowledges that Funding has directed WFBNA to deliver any

  
 23 

 
such Collections and/or any such Interchange hereunder to the Servicer under the Servicing Agreement to be allocated, paid and deposited as provided in the Transaction Documents. 

(e) WFBNA shall not convey, assign, exchange or otherwise transfer any Account until such time as such Account becomes a Defaulted Account or
a Removed Account. 
 (f) WFBNA shall timely file in all appropriate filing offices the documents which are necessary or advisable to
perfect and maintain the perfection of Funding’s interest in the Purchased Assets. 
 (g) WFBNA will not change its name or its type or
jurisdiction of organization without first delivering to Funding an opinion of counsel stating that all actions and filings that are necessary or appropriate to maintain the perfection and the priority of Funding’s ownership interest in the
Receivables have been taken or made. 
 (h) On [________ __] in each calendar year, beginning [____], WFBNA will deliver to Funding, the
Issuer and the Indenture Trustee an opinion of counsel (i) stating that no further filing of any financing statement, amendment of financing statement, or continuation statement is then necessary to perfect Funding’s ownership interest in
the Receivables, and (ii) stating that no further filing of any financing statement, amendment of financing statement, or continuation statement will be necessary prior to [________ __] of the next calendar year to maintain the perfection of
Funding’s ownership interest in the Receivables or, if that is not the case, identifying each filing that will be necessary prior to [________ __] of that calendar year. 

(i) Except (i) as otherwise required by any Requirements of Law or (ii) as is deemed by WFBNA to be necessary in order for it to
maintain its consumer credit card business or a program operated by such consumer credit card business on a competitive basis based on a good faith assessment by it of the nature of the competition in the consumer credit card business or such
program, WFBNA shall not at any time reduce the annual percentage rate of the Periodic Finance Charges assessed on the Receivables or other fees charged on any of the Accounts if such reduction would not be also applied to any comparable segment of
accounts owned by WFBNA which have characteristics the same as, or substantially similar to, such Accounts that are subject to such change, except as otherwise restricted by an endorsement, sponsorship, or other agreement between WFBNA and an
unrelated third party or by the terms of the Credit Card Agreements. 
 (j) WFBNA shall comply with and perform its obligations under the
Credit Card Agreements relating to the Accounts and the Credit Card Guidelines except insofar as any failure so to comply or perform would not materially and adversely affect the rights of Funding or any of its assigns. Subject to compliance with
each Requirement of Law, WFBNA may change the terms and provisions of the applicable Credit Card Agreements or the applicable Credit Card Guidelines with respect to any of the Accounts in any respect (including the calculation of the amount, or the
timing, of charge-offs and the Periodic Finance Charges and other fees to be assessed thereon) only if in the reasonable judgment of WFBNA such change would be made applicable to any comparable segment of the revolving credit card accounts owned by
WFBNA which have characteristics the same as, or substantially similar to, such Accounts that are subject 

  
 24 

 
to such change, except as otherwise restricted by an endorsement, sponsorship, or other agreement between WFBNA and an unrelated third party or by the terms of the Credit Card Agreements. 

(k) WFBNA shall notify Funding after becoming aware of any Lien arising through or under WFBNA on any Purchased Asset. 

Section 5.02. Mutual Covenants; Compliance with the FDIC Rule. 

(a) Each of WFBNA and Funding acknowledges and agrees that the purpose of this Section 5.02 is to comply with the
provisions of the FDIC Rule and FDIC Interpretations. 
 (b) Schedule 5.02 is expressly incorporated in this Agreement. Each of WFBNA
and Funding agree to perform their respective obligations set forth in Schedule 5.02 and to take such other action (or refrain from taking action) to give full effect to the requirements set forth on Schedule 5.02. 

(c) In the event that WFBNA becomes the subject of an insolvency proceeding and the FDIC as receiver or conservator provides a written notice
of repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule to WFBNA or Funding, the party receiving such notice shall promptly deliver such notice to the other party, with a copy to the Issuer, the Owner Trustee and the Indenture
Trustee. 

  
 25 

 ARTICLE VI 

REPURCHASE OBLIGATION 

Section 6.01. Reassignment of Ineligible Receivables. 

(a) WFBNA must accept reassignment of any Receivable if Funding is required to accept reassignment of that Receivable under
subsection 2.04(d) of the Transfer Agreement and if either of the following conditions is satisfied: 

(i) (A) the representation of WFBNA under subsection 4.02(a)(iv) or (vi) relating to
that Receivable is not true and correct as of the applicable date, or the representation of WFBNA under subsection 4.02(a)(xi) or (xii) relating to that Receivable is not true and correct as of the applicable
date because clause (d) of the definition of Eligible Receivable is not satisfied, and 
 (B) any of the following
conditions is satisfied: (I) that Receivable is charged off as uncollectible, (II) the interest of Funding or its transferee in that Receivable or its proceeds is impaired, (III) the proceeds of that Receivable are not available to
Funding or its transferee free and clear of any Lien, (IV) the Lien on that Receivable runs in favor of any Governmental Authority, (V) the Lien on that Receivable is a tax lien, (VI) the Lien on that Receivable arises under
Title IV of the Employee Retirement Income Security Act, or (VII) WFBNA has consented to the Lien on that Receivable; or 

(ii) (A)(I) the representation of WFBNA under subsection 4.02(a)(iv), (xi), or
(xii) relating to that Receivable is not true and correct as of the applicable date and that breach is not addressed by subsection 6.01(a)(i), or (II) the representation of WFBNA under
subsection 4.02(a)(i), (ii), (v), (viii), or (ix) relating to that Receivable is not true and correct as of the applicable date, and 

(B) any of the following conditions is satisfied: (I) the related Account is a Defaulted Account, (II) the
interest of Funding or its transferee in that Receivable or its proceeds is impaired, or (III) the proceeds of that Receivable are not available to Funding or its transferee free and clear of any Lien, and 

(C) that breach is not cured within sixty (60) days, or a longer period up to one hundred twenty (120) days to
which Funding consents, from the earlier of the date on which WFBNA discovers that breach or the date on which WFBNA is given notice of that breach. 

(b) WFBNA must accept reassignment of any Receivable described in subsection 6.01(a) on the date on which that
Receivable is reassigned to Funding under subsection 2.04(e) of the Transfer Agreement. On that date, automatically and without further action, Funding hereby reassigns to WFBNA, without recourse, representation, or
warranty, all 

  
 26 

 
of Funding’s right, title and interest in, to, and under (i) that Receivable, (ii) all monies due or to become due with respect to such Receivable, (iii) all Interchange,
Insurance Proceeds, and Recoveries allocable to that Receivable, (iv) all Collections on that Receivable, and (v) all proceeds of any of the foregoing property. On that date, WFBNA must pay to Funding or, if Funding directs, to its
designee or agent, in immediately available funds an amount equal to the unpaid balance of that Receivable, and Funding will treat that Receivable as collected in full. Also on that date, automatically and without further action WFBNA acknowledges
that Funding has directed it to deliver these immediately available funds to the Servicer under the Servicing Agreement for deposit into the Collection Account pursuant to the Indenture. Funding must execute all agreements and other documents, and
must take all other actions, that are reasonably requested by WFBNA to effectuate this reassignment. 
 (c) After a reassignment under
subsection 6.01(b), if WFBNA and Funding cannot determine whether collections relate to a Receivable that is owned by Funding or any applicable transferee or to a receivable that has been reassigned to WFBNA, WFBNA and
Funding must allocate payments on the related Account proportionately based on the total amount of Principal Receivables in that Account then owned by Funding or any applicable transferee and the total amount of principal receivables in that Account
then owned by WFBNA. 
 Section 6.02. Reassignment of Other Receivables. 

(a) WFBNA must accept reassignment of a set of Receivables if Funding is required to accept reassignment of those Receivables under
subsection 2.04(e) of the Transfer Agreement and if the representation of WFBNA under subsection 4.02(a)(i) or (ii) relating to those Receivables is not true and correct as of the
applicable date. 
 (b) WFBNA must accept reassignment of the Receivables described in subsection 6.02(a) on the
date on which those Receivables are reassigned to Funding under subsection 2.04(e) of the Transfer Agreement. On that date, automatically and without further action, Funding hereby reassigns to WFBNA, without recourse,
representation, or warranty, all of Funding’s right, title and interest in, to, and under (i) those Receivables, (ii) all monies due or to become due with respect to such Receivables, (iii) all Interchange, Insurance Proceeds,
and Recoveries allocable to those Receivables, (iv) all Collections on those Receivables, and (v) all proceeds of any of the foregoing property. On the Business Day immediately preceding that date, WFBNA must pay to Funding or, if Funding
directs, to its designee or agent, in immediately available funds an amount equal to the unpaid balance of those Receivables, and Funding will treat those Receivables as collected in full. WFBNA acknowledges that Funding has directed it to deliver
these immediately available funds to the Servicer under the Servicing Agreement for deposit into the Collection Account pursuant to the Indenture. Funding must execute all agreements and other documents, and must take all other actions, that are
reasonably requested by WFBNA to effectuate this reassignment. 
 Section 6.03. Dispute Resolution. 

(a) If any Receivable is subject to repurchase pursuant to Section 6.01 or Section 6.02 of
this Agreement, which repurchase is not resolved in accordance with the terms of this 

  
 27 

 
Agreement within one hundred eighty (180) days after notice is delivered to WFBNA as specified in any such Section, Funding, the Indenture Trustee, acting at the direction of the Majority
Holders of all Series, or a Verified Note Owner (each, a “Requesting Party”) will have the right to refer the matter, at its discretion, in the case of Funding, and solely as directed, in the case of the Indenture Trustee, to either
third-party mediation (including nonbinding arbitration) or arbitration pursuant to this Section 6.03 and WFBNA is hereby deemed to consent to the selected resolution method. At the
end of the 180-day period described above, the Representing Party (as defined below) may provide notice informing the Requesting Party of the status of its request or, in the absence of any such notice, the
Requesting Party may presume that its request remains unresolved. The Requesting Party will provide written notice of its intention to refer the matter to mediation or arbitration to WFBNA (in such capacity, the “Representing
Party”) within thirty (30) calendar days following such one hundred eightieth (180th) day. WFBNA agrees to participate in the resolution method selected by the Requesting Party. 

(b) If the Requesting Party selects mediation as the resolution method, the following provisions will apply: 

(i) The mediation will be administered by the American Arbitration Association (the “AAA”) pursuant to its
Commercial Arbitration Rules and Mediation Procedures in effect at the time the mediation is initiated (the “Rules”); provided, that if any of the Rules are inconsistent with the procedures for the mediation or arbitration
stated in this Agreement, the procedures in this Agreement will control. 
 (ii) The mediator must be a Qualified Dispute
Resolution Professional. Upon being supplied a list, by the AAA, of at least ten potential mediators that are each Qualified Dispute Resolution Professionals, each of the Requesting Party and the Representing Party will have the right to exercise
two (2) peremptory challenges within fourteen (14) days and to rank the remaining potential mediators in order of preference. The AAA will select the mediator from the remaining potential mediators on the list respecting the preference
choices of the parties to the extent possible. 
 (iii) Each of the Requesting Party and the Representing Party will use
commercially reasonable efforts to begin the mediation within ten (10) Business Days of the selection of the mediator and to conclude the mediation within thirty (30) days of the start of the mediation. 

(iv) The fees and expenses of the mediation will be allocated as mutually agreed by the Requesting Party and the Representing
Party as part of the mediation. 
 (v) A failure by the Requesting Party and the Representing Party to resolve a disputed
matter through mediation shall not preclude either party from seeking a resolution of such matter through the initiation of a judicial proceeding in a court of competent jurisdiction, subject to subsection 6.03(d) below. 

  
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 (c) If the Requesting Party selects arbitration as the resolution method, the following
provisions will apply: 
 (i) The arbitration will be held in accordance with the United States Arbitration Act,
notwithstanding any choice of law provision in this Agreement, and under the auspices of the AAA and in accordance with the Rules. 

(ii) If the repurchase request specified in subsection 6.03(a) involves the repurchase of an aggregate amount of
Receivables of less than 5% of the total Principal Receivables held by the Issuer as of the date of such repurchase request, a single arbitrator will be used. That arbitrator must be a Qualified Dispute Resolution Professional. Upon being supplied a
list of at least ten potential arbitrators that are each Qualified Dispute Resolutions Professionals by the AAA, each of the Requesting Party and the Representing Party will have the right to exercise two (2) peremptory challenges within
fourteen (14) days and to rank the remaining potential arbitrators in order of preference. The AAA will select the arbitrator from the remaining potential arbitrators on the list respecting the preference choices of the parties to the extent
possible. 
 (iii) If the repurchase request specified in subsection 6.03(a) involves the repurchase of an aggregate
amount of Receivables equal to or in excess of 5% of the total Principal Receivables held by the Issuer as of the date of such repurchase request, a three-arbitrator panel will be used. The arbitral panel will consist of three (3) Qualified
Dispute Resolution Professionals, (A) one to be appointed by the Requesting Party within five (5) Business Days of providing notice to the Representing Party of its selection of arbitration, (B) one to be appointed by the Representing
Party within five (5) Business Days of the Requesting Party’s appointment of an arbitrator, and (C) the third, who will preside over the arbitral panel, to be chosen by the two party-appointed arbitrators within five (5) Business
Days of the Representing Party’s appointment. If any party fails to appoint an arbitrator or the two (2) party-appointed arbitrators fail to appoint the third within the relevant time periods, then the appointments will be made by the AAA
pursuant to the Rules. 
 (iv) Each arbitrator selected for any arbitration will abide by the Code of Ethics for Arbitrators
in Commercial Disputes in effect as of the date of this Agreement. Prior to accepting an appointment, each arbitrator must promptly disclose any circumstances likely to create a reasonable inference of bias or conflict of interest or likely to
preclude completion of the hearings within the prescribed time schedule. Any arbitrator selected may be removed by the AAA for cause consisting of actual bias, conflict of interest or other serious potential for conflict. 

(v) The Requesting Party and the Representing Party each agree that it is their intention that after consulting with the
parties, the arbitrator or arbitral panel, as applicable, will devise procedures and deadlines for the arbitration, to the extent not already agreed to by the parties, with the goal of expediting the proceeding and completing the arbitration within
thirty (30) days after appointment of the arbitrator or arbitral panel, as applicable. The arbitrator or the arbitral panel, as applicable, will have 

  
 29 

 
the authority to schedule, hear, and determine any and all motions, including dispositive and discovery motions, in accordance with New York law then in effect (including prehearing and post
hearing motions), and will do so on the motion of any party to the arbitration. Notwithstanding any other discovery that may be available under the Rules, unless otherwise agreed by the parties, each party to the arbitration will be limited to the
following discovery in the arbitration: 
 (A) Consistent with the expedited nature of arbitration, the Requesting Party and
the Representing Party will, upon the written request of the other party, promptly provide the other with copies of documents relevant to the issues raised by any claim or counterclaim on which the producing party may rely in support of or in
opposition to the claim or defense. 
 (B) At the request of a party, the arbitrator or arbitral panel, as applicable, shall
have the discretion to order examination by deposition of witnesses to the extent the arbitrator or arbitral panel deems such additional discovery relevant and appropriate. Depositions shall be limited to a maximum of three (3) per party and
shall be held within thirty (30) calendar days of the making of a request. Additional depositions may be scheduled only with the permission of the arbitrator or arbitral panel, and for good cause shown. Each deposition shall be limited to a
maximum of three (3) hours’ duration. All objections are reserved for the arbitration hearing except for objections based on privilege and proprietary or confidential information. 

(C) Any dispute regarding discovery, or the relevance or scope thereof, shall be determined by the arbitrator or arbitral
panel, which determination shall be conclusive. 
 (D) All discovery shall be completed within sixty (60) days
following the appointment of the arbitrator or the arbitral panel, as applicable; provided, that the arbitrator or the arbitral panel, as applicable, will have the ability to grant the parties, or either of them, additional discovery to the
extent that the arbitrator or the arbitral panel, as applicable, determines good cause is shown that such additional discovery is reasonable and necessary. 

(vi) The Requesting Party and the Representing Party each agree that it is their intention that the arbitrator or the arbitral
panel, as applicable, will resolve the dispute in accordance with the terms of this Agreement, and may not modify or change this Agreement in any way. The arbitrator or the arbitral panel, as applicable, will not have the power to award punitive
damages or consequential damages in any arbitration conducted. The Requesting Party and the Representing Party each agree that it is their intention that in its final determination, the arbitrator or the arbitral panel, as applicable, will determine
and award the costs of the arbitration (including the fees of the arbitrator or the arbitral panel, as applicable, cost of any record or transcript of the arbitration, and administrative fees) and reasonable attorneys’ fees to the parties as
determined by the arbitrator or the arbitral panel, as applicable, in its reasonable discretion. The 

  
 30 

 
determination of the arbitrator or the arbitral panel, as applicable, must be consistent with the provisions of this Agreement, including Section 9.06 (with the
understanding that any costs allocated to Funding under this subsection 6.03(c)(vi) will be limited as though such costs were claims of WFBNA for purposes of Section 9.06), and will be in writing and counterpart
copies will be promptly delivered to the parties. The determination of the arbitrator or the arbitral panel, as applicable, may be reconsidered once by the arbitrator or the arbitral panel, as applicable, upon the motion and at the expense of either
party. Following that single reconsideration, the determination of the arbitrator or the arbitral panel, as applicable, will be final and non-appealable and may be entered in and may be enforced in, any court
of competent jurisdiction. 
 (vii) By selecting arbitration, the Requesting Party is giving up the right to sue in court,
including the right to a trial by jury. 
 (viii) No Person may bring a putative or certified class action to arbitration.

 (d) The following provisions will apply to both mediations and arbitrations: 

(i) Any mediation or arbitration will be held in Charlotte, North Carolina. 

(ii) Notwithstanding this dispute resolution provision, the parties will have the right to seek provisional or ancillary relief
from a competent court of law, including a temporary restraining order, preliminary injunction or attachment order, provided such relief would otherwise be available by law. 

(iii) The details and/or existence of any unfulfilled repurchase request specified in subsection 6.03(a) above, any
informal meetings, mediations or arbitration proceedings, including all offers, promises, conduct and statements, whether oral or written, made in the course of the parties’ attempt to informally resolve an unfulfilled repurchase request, and
any discovery taken in connection with any arbitration, will be confidential, privileged and inadmissible for any purpose, including impeachment, in any mediation, arbitration or litigation, or other proceeding; provided, however, that any discovery
taken in any arbitration will be admissible in that particular arbitration. Such information will be kept strictly confidential and will not be disclosed or discussed with any third party (excluding a party’s attorneys, experts, accountants and
other agents and representatives, as reasonably required in connection with the related resolution procedure), except as otherwise required by law, regulatory requirement or court order. If any party to a resolution procedure receives a subpoena or
other request for information from a third party (other than a governmental regulatory body) for such confidential information, the recipient will promptly notify the other party to the resolution procedure and will provide the other party with the
opportunity to object to the production of its confidential information. Notwithstanding anything in this Section 6.03 to the contrary, any discovery taken in connection with any arbitration pursuant to subsection
6.03(c) above will be admissible in that particular arbitration. 

  
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 ARTICLE VII 

CONDITIONS PRECEDENT 

Section 7.01. Conditions to Funding’s Obligation on the Closing Date. Funding’s obligation to purchase the Receivables
in each Initial Account that exist on the Closing Date, and the related Finance Charge Receivables and other Purchased Assets is subject to the following conditions being satisfied: 

(a) the representations and warranties made by WFBNA in this Agreement on the Closing Date must be true and correct; 

(b) all information provided by WFBNA to Funding relating to the Initial Accounts must be true and correct; 

(c) WFBNA must have (i) delivered the initial Account Schedule to Funding and (ii) performed all other obligations
required of WFBNA prior to the Closing Date under this Agreement; 
 (d) WFBNA must have filed all financing statements,
amendments of financing statements, and continuation statements that are required under subsection 2.01(c); and 

(e) all corporate and legal matters relating to this Agreement must have been addressed in a manner satisfactory to Funding,
and all related documents reasonably requested of WFBNA by Funding must have been received. 
 Section 7.02. Conditions to
WFBNA’s Obligation on the Closing Date. WFBNA’s obligation to sell the Receivables in each Initial Account that exist on the Closing Date, and the related Finance Charge Receivables and other Purchased Assets, is subject to the
following conditions being satisfied: 
 (a) the representations and warranties made by Funding in this Agreement on the
Closing Date must be true and correct; and 
 (b) all corporate and legal matters relating to this Agreement must have been
addressed in a manner satisfactory to WFBNA, and all related documents reasonably requested of Funding by WFBNA must have been received. 

  
 32 

 ARTICLE VIII 

TERM AND PURCHASE TERMINATION 

Section 8.01. Term. This Agreement will commence on the Closing Date and will continue at least until the earlier of (a) the
termination of the Issuer and (b) the amendment of the Transfer Agreement to remove Funding as Transferor. After that time, WFBNA and Funding may terminate this Agreement by mutual agreement. 

Section 8.02. Purchase Termination. WFBNA immediately must cease to sell Principal Receivables, and the related Finance Charge
Receivables and other Purchased Assets, to Funding if an Insolvency Event with respect to WFBNA occurs. Still, Funding or its transferee will continue to own all Principal Receivables that were sold to Funding prior to such Insolvency Event with
respect to WFBNA, all Collections on those Principal Receivables, all Finance Charge Receivables that accrue on those Principal Receivables regardless of when they arise, and all Collections on those Finance Charge Receivables. If WFBNA and Funding
cannot determine whether collections relate to a Receivable that was sold to Funding or to a receivable that has not been sold to Funding, WFBNA and Funding must allocate payments on the related Account proportionately based on the total amount of
Principal Receivables in that Account then owned by Funding or any applicable transferee and the total amount of principal receivables in that Account then owned by WFBNA. WFBNA promptly must give notice of any Insolvency Event with respect to
itself to Funding, the Issuer and the Indenture Trustee. 

  
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 ARTICLE IX 

MISCELLANEOUS PROVISIONS 

Section 9.01. Amendment. This Agreement can only be modified in a written document executed by Funding and WFBNA. No amendment of
this Agreement will be effective unless (a) Funding has given prior notice of the amendment to the Issuer, the Indenture Trustee and each Note Rating Agency then rating any security issued by the Issuer and (b) the Rating Agency Condition
is satisfied with respect to such amendment. Funding must send a copy of each amendment of this Agreement to the Issuer, the Indenture Trustee and each Note Rating Agency then rating any security issued by the Issuer. A Supplemental Conveyance,
Reassignment, or any other document executed in connection with a sale or reassignment under this Agreement, will amend this Agreement, but will not require satisfaction of the conditions specified in this Section 9.01.

 Section 9.02. GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.  

(a) THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS AGREEMENT, THE RELATIONSHIP OF
THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICTS OF LAW PRINCIPLES OTHER THAN SECTION
5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 
 (b) EACH PARTY HERETO, AND THE NOTEHOLDER BY
ACCEPTING THEIR INTEREST IN THE NOTES, HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM
PERTAINING TO THIS AGREEMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS AGREEMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF
MANHATTAN IN NEW YORK CITY; PROVIDED FURTHER, THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE FUNDING FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE RECEIVABLES OR
ANY SECURITY FOR THE OBLIGATIONS OF WFBNA ARISING HEREUNDER OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF FUNDING. EACH PARTY HERETO SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT,
AND EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION THAT SUCH PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON 

  
 34 

 
CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY HERETO HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT
AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS DETERMINED IN ACCORDANCE WITH SECTION
9.03 AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE (3) DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER POSTAGE PREPAID. NOTHING IN THIS SECTION 9.02
SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 
 (c) BECAUSE DISPUTES
ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES
DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM, THE PARTIES HERETO AND THE NOTEHOLDER BY ACCEPTING THEIR INTEREST IN THE NOTES WAIVE
ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN
CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. NOTHING IN THIS SECTION 9.02(c) SHALL LIMIT THE RIGHTS OF ANY REQUESTING PARTY PURSUANT TO SECTION 6.03. 

Section 9.03. Notices. All notices and other communications under this Agreement must be in writing and will be considered
effective when delivered (or in the case of facsimile or electronic transmission, when received) by hand, by courier, by overnight delivery service, or by certified mail, return receipt requested and postage prepaid, or sent by facsimile or
electronic transmission: 
  

	 	(a)	 in the case of WFBNA, to 

Wells Fargo Bank, National Association 

550 S. Tryon Street, Floor 10, D1086-102 

Charlotte, NC 28202 
 Attention:
Corporate Treasury - Global Funding 
 Email: WFBNAWFCITSeller@wellsfargo.com 

  
 35 

	 	(b)	 in the case of Funding, to: 

WF Card Funding, LLC 
 550 S.
Tryon Street, Floor 10, D1086-103 
 Charlotte, NC 28202 

Attention: Corporate Treasury - Global Funding 

Telephone: 866-263-3059 

Email: WFCardFunding@wellsfargo.com 
  

	 	(c)	 in the case of the Issuer, to: 

WF Card Issuance Trust 
 c/o
Wilmington Trust, National Association, as owner trustee 
 1100 North Market Street 

Wilmington, Delaware 19890-0001 

Attention: Corporate Capital Markets 
  

	 	(d)	 in the case of the Indenture Trustee, to: 

U.S. Bank National Association 

One Federal Street 
 3rd Floor 
 Boston, Massachusetts 02110 

Attention: WF Card Issuance Trust 

Telephone: 617.603.6888 
 Email:
kevin.blanchard@usbank.com 
 Any of these entities may designate a different address in a written notice to the others under this
Section 9.03. 
 Section 9.04. Severability. If any part of this Agreement is held to be invalid or
otherwise unenforceable, the rest of this Agreement will be considered severable and will continue in full force. 
 Section 9.05.
Assignment. No party can assign any interest in this Agreement, except that (a) Funding may assign its interest in this Agreement to the Issuer under the Transfer Agreement and the Issuer may pledge and assign its interest to the
Indenture Trustee under the Indenture and (b) each of WFBNA or Funding may assign its interest in this Agreement to any other Person if (i) at least ten (10) days prior to the assignment, notice is given to the other party, the
Issuer, the Indenture Trustee, and each Note Rating Agency then rating any security issued by Issuer, (ii) WFBNA or Funding, as non-assigning party, as applicable, gives its prior written approval to the
assignment, and (iii) the Rating Agency Condition is satisfied with respect to such assignment. 
 Section 9.06.
Acknowledgement of WFBNA. WFBNA acknowledges that Funding intends to assign all of its right, title, and interest in, to, and under this Agreement and the 

  
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Purchased Assets to the Issuer under the Transfer Agreement and the Issuer intends to pledge or assign all of its right, title, and interest in, to and under this Agreement and the Purchased
Assets to the Indenture Trustee under the Indenture, and WFBNA consents to each such pledge and assignment. WFBNA will have no remedy against Funding under this Agreement other than a claim for money damages and then only to the extent of funds
available to Funding. WFBNA must not assert any claim to or interest in any Purchased Asset and must not take any action that would interfere with the receipt of Collections on the Purchased Assets by Funding or the Issuer under the Transfer
Agreement or the Indenture Trustee under the Indenture. If any amount payable by WFBNA to Funding under this Agreement in turn must be paid by Funding to the Issuer, the Servicer or the Indenture Trustee under any of the Transfer Agreement, the
Servicing Agreement or the Indenture, as applicable, and if Funding directs, WFBNA must pay that amount directly to such Person as directed by Funding. 

Section 9.07. Further Assurances. Each party must take all actions that are reasonably requested by each other party hereto to
effect more fully the purposes of this Agreement. 
 Section 9.08. No Waiver; Cumulative Remedies. No failure to exercise or
delay in exercising any right or remedy under this Agreement will effect a waiver of that right or remedy. No single or partial exercise of any right or remedy under this Agreement will preclude any other or further exercise of that right or remedy
or any other right or remedy. Except as otherwise expressly provided, the rights and remedies under this Agreement are cumulative and not exhaustive. 

Section 9.09. Counterparts. This Agreement may be executed in any number of counterparts, each of which will be considered an
original, but all of which together will constitute one agreement. Delivery by facsimile or other electronic transmission of an executed counterpart of a signature page to this Agreement and each other document delivered in accordance with, or
pursuant to the terms hereof, shall be effective as delivery of an original executed counterpart of this Agreement and such other document. Any party hereto may also require that any such documents and signatures delivered by facsimile or other
electronic transmission be confirmed by a manually signed original thereof; provided that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by facsimile or other electronic
transmission. 
 Section 9.10. Binding Effect; Third-Party Beneficiaries. This
Agreement benefits and is binding on the parties and their respective successors and permitted assigns. The Issuer, the Servicer and the Indenture Trustee are third-party beneficiaries of this Agreement. Each
of WFBNA and Funding hereby agrees to deliver to the Issuer and the Indenture Trustee a copy of all notices, opinions, agreements, certificates and documents to be delivered by it hereunder. Except as otherwise provided in this Article IX, no
other Person will have any right or obligation hereunder. 
 Section 9.11. Merger and Integration. This Agreement contains all
of the terms and conditions relating to its subject matter to which the parties have agreed. All prior understandings of any kind are superseded by this Agreement. 

  
 37 

 Section 9.12. Headings. The headings are for reference only and must not affect
the interpretation of this Agreement. 
 Section 9.13. Schedules, Exhibits and Annexes. All schedules, exhibits and annexes are
fully incorporated into this Agreement. 
 Section 9.14. Survival of Representations and Warranties. All representations,
warranties, and covenants in this Agreement will survive the transfer of the Purchased Assets to Funding, the sale of the Purchased Assets to the Issuer under the Transfer Agreement and the pledge of the Purchased Assets to the Indenture Trustee for
the benefit of the Noteholders under the Indenture. 
 Section 9.15. Nonpetition Covenant. Notwithstanding any prior termination
of this Agreement, to the fullest extent permitted by law, WFBNA must not file, commence, join, or acquiesce in a petition or a proceeding, or cause Funding to file, commence, join, or acquiesce in a petition or a proceeding, that causes
(a) Funding to be a debtor under any Debtor Relief Law or (b) a trustee, conservator, receiver, liquidator, or similar official to be appointed for Funding or any substantial part of any of its property. 

  
 38 

 Executed as of this ____ day of ______, 20____. 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	WF CARD FUNDING, LLC
		
	By:	 	 
		 	Name:
		 	Title:

  

  
 [Signature Page to
Receivables Purchase Agreement] 

 EXHIBIT A 

FORM OF SUPPLEMENTAL CONVEYANCE 

This Supplemental Conveyance No. [___] (this “Supplemental Conveyance”) is made as of [________ __, ____], between Wells
Fargo Bank, National Association, a national banking association (“WFBNA”), and WF Card Funding, LLC, a Delaware limited liability company (“Funding”). 

BACKGROUND 
 WFBNA
and Funding are designating additional credit card accounts under the Receivables Purchase Agreement, dated as of [________ __, ____], between WFBNA and Funding (as amended, supplemented or otherwise modified from time to time, the
“Receivables Purchase Agreement”). 
 AGREEMENT 

In consideration of the mutual promises in this Supplemental Conveyance and for other valuable consideration, the receipt and adequacy of
which are acknowledged, the parties agree to the following: 
 1. Defined Terms and Rules of Construction. Each capitalized term is
defined in this Section 1, or if not defined here, in the Receivables Purchase Agreement. Rules of construction in the Receivables Purchase Agreement apply in this Supplemental Conveyance. The following definitions apply in
this Supplemental Conveyance: 
 “Addition Date” means, for the Additional Accounts, the opening of business on [________
__, ____]. 
 “Addition Representation Date” means, with respect to Additional Accounts designated hereby, [________ __,
____].1 
 “Additional Account” means each credit card account that is
designated as an Account under this Supplemental Conveyance and that is identified on Schedule 1 to this Supplemental Conveyance. The term “Additional Account” shall include any Transferred Account relating to any such Additional Account.

 “Additional Purchased Assets” has the meaning set forth in subsection 3(a). 

“Funding” has the meaning set forth in the first paragraph of this Supplemental Conveyance. 

 
  

	1 	 The specified Addition Representation Date shall be not more than [7] Business Days prior to the Addition Date.

  
 A-1 

 “Receivables Purchase Agreement” has the meaning set forth above under the
heading “Background.” 
 “Supplemental Conveyance” has the meaning set forth in the first paragraph of this
document. 
 “WFBNA” has the meaning set forth in the first paragraph of this Supplemental Conveyance. 

2. Designation of Additional Accounts. The Additional Accounts identified on Schedule 1 to this Supplemental
Conveyance are designated as Accounts under this Supplemental Conveyance and the Receivables Purchase Agreement from and after the Addition Date. Schedule 1 is fully incorporated into this Supplemental Conveyance and the
Receivables Purchase Agreement and supplements the Account Schedule under the Receivables Purchase Agreement from and after the Addition Date. 

3. Sale of Additional Purchased Assets. 

(a) In consideration of Funding’s payment of each related Purchase Price under the Receivables Purchase Agreement, WFBNA hereby sells and
assigns to Funding, without recourse, all of WFBNA’s right, title and interest in, to, and under (i) the Receivables existing on the Addition Date and arising after the Addition Date in each Additional Account, (ii) all monies due or
to become due with respect to such Receivables (including Finance Charge Receivables), (iii) all Interchange, Insurance Proceeds, and Recoveries allocable to the Receivables, (iv) all Collections on the Receivables, and (v) all proceeds of
any of this property (collectively, the “Additional Purchased Assets”). Funding hereby accepts the Additional Purchased Assets sold under this Supplemental Conveyance. 

(b) WFBNA must take all actions relating to this sale of the Additional Purchased Assets that are required under
subsections 2.01(c), (d), and (e) of the Receivables Purchase Agreement. 
 (c) The parties
intend that the transfer of the Additional Purchased Assets by WFBNA to Funding be an absolute sale conveying good title, free and clear of any liens, claims, encumbrances, or rights of others, from WFBNA to Funding, and not a secured borrowing. If
the transaction under this Supplemental Conveyance were determined to be a secured borrowing or other loan rather than an absolute sale despite this expressly stated intent of the parties, then this Supplemental Conveyance shall constitute a
security agreement under applicable law, and WFBNA shall be deemed to have granted, and does hereby grant to Funding a first priority security interest in all of WFBNA’s right, title, and interest, whether now owned or hereafter acquired, in,
to, and under the Additional Purchased Assets to secure WFBNA’s obligations under this Supplemental Conveyance and the Receivables Purchase Agreement. This grant is a protective measure and must not be construed as evidence of any intent
contrary to the one expressed in this paragraph. 

  
 A-2 

 4. Representations and Warranties of WFBNA. WFBNA acknowledges its representations
and warranties relating to the Additional Accounts that are made on the Addition Date under Sections 4.01 and 4.02 of the Receivables Purchase Agreement. 

5. Ratification. This Supplemental Conveyance supplements the Receivables Purchase Agreement from and after the Addition Date, and the
parties ratify the Receivables Purchase Agreement as supplemented by this Supplemental Conveyance. 
 6. Counterparts. This
Supplemental Conveyance may be executed in any number of counterparts, each of which will be considered an original, but all of which together will constitute one agreement. Delivery by facsimile or other electronic transmission of an executed
counterpart of a signature page to this Supplemental Conveyance and each other document delivered in accordance with, or pursuant to the terms hereof, shall be effective as delivery of an original executed counterpart of this Supplemental Conveyance
and such other document. Any party hereto may also require that any such documents and signatures delivered by facsimile or other electronic transmission be confirmed by a manually signed original thereof; provided that the failure to request or
deliver the same shall not limit the effectiveness of any document or signature delivered by facsimile or other electronic transmission. 
 Each party must
take all actions that are reasonably requested by the other party to effect more fully the purposes of this Supplemental Conveyance. 
 7.
GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.  
 (a) THIS SUPPLEMENTAL CONVEYANCE AND ANY CLAIM,
CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS SUPPLEMENTAL CONVEYANCE AND THE RECEIVABLES PURCHASE AGREEMENT, THE RELATIONSHIP OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE
PARTIES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICTS OF LAW PRINCIPLES OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

(b) EACH PARTY HERETO, AND THE NOTEHOLDERS BY ACCEPTING THEIR INTEREST IN THE NOTES, HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL
COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM PERTAINING TO THIS SUPPLEMENTAL CONVEYANCE OR TO ANY MATTER ARISING OUT OF OR RELATING TO
THIS SUPPLEMENTAL CONVEYANCE; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF MANHATTAN IN NEW YORK CITY; PROVIDED FURTHER,
THAT NOTHING IN THIS SUPPLEMENTAL CONVEYANCE SHALL BE DEEMED OR 

  
 A-3 

 
OPERATE TO PRECLUDE FUNDING FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE RECEIVABLES OR ANY SECURITY FOR THE OBLIGATIONS OF WFBNA ARISING HEREUNDER
OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF FUNDING. EACH PARTY HERETO SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION THAT SUCH
PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY HERETO HEREBY WAIVES PERSONAL
SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS DETERMINED
IN ACCORDANCE WITH SECTION 9.03 OF THE RECEIVABLES PURCHASE AGREEMENT AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE (3) DAYS AFTER DEPOSIT IN THE UNITED STATES
MAIL, PROPER POSTAGE PREPAID. NOTHING IN THIS SECTION 7 SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

(c) BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED
AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST
COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM, THE PARTIES HERETO AND THE NOTEHOLDERS BY ACCEPTING THEIR INTEREST IN THE NOTES WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING
IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS SUPPLEMENTAL CONVEYANCE OR THE TRANSACTIONS CONTEMPLATED HEREBY. NOTHING IN THIS SECTION
7 SHALL LIMIT THE RIGHTS OF ANY REQUESTING PARTY PURSUANT TO SECTION 6.03 OF THE RECEIVABLES PURCHASE AGREEMENT. 
 [The
rest of this page is left blank intentionally.] 

  
 A-4 

 Executed as of this [___] day of [__________]. 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 
		 	Name:
		 	Title:
	
	 WF CARD FUNDING, LLC

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 A-5 

 SCHEDULE 1 TO SUPPLEMENTAL
CONVEYANCE 
 ADDITIONAL ACCOUNTS 

  
 A-6 

 EXHIBIT B 

FORM OF REASSIGNMENT OF RECEIVABLES 

IN REMOVED ACCOUNTS 

(As required by Section 2.03 of the Receivables Purchase Agreement) 

Reassignment No. [__] (this “Reassignment”) of Receivables in Removed Accounts dated as of _______ __, 20__ by and among
WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as (“WFBNA”), and WF CARD FUNDING, LLC, a Delaware
limited liability company (the “Funding”), pursuant to the Receivables Purchase Agreement referred to below. 

WITNESSETH: 
 WHEREAS
WFBNA and Funding are parties to the Receivables Purchase Agreement, dated as of [______________ __, 20__] (as it may be amended and supplemented from time to time the “Receivables Purchase Agreement”); 

WHEREAS pursuant to the Receivables Purchase Agreement, WFBNA wishes to remove from Funding all Reassigned Assets owned by Funding in certain
designated Accounts and to cause Funding to reconvey the Reassigned Assets of such Removed Accounts, whether now existing or hereafter created, from Funding to WFBNA; and 

WHEREAS Funding is willing to accept such designation and to reconvey the Reassigned Assets in the Removed Accounts subject to the terms and
conditions hereof; 
 NOW, THEREFORE, WFBNA and Funding hereby agree as follows: 

1. Defined Terms. All terms defined in the Receivables Purchase Agreement and used herein shall have such defined meanings when used
herein, unless otherwise defined herein. 
 “Reassigned Assets” has the meaning set forth in subsection 3(a). 

“Removal Cut-Off Date” means, with respect to the Removed Accounts ______________,
20__. 
 “Removal Date” means, with respect to the Removed Accounts designated hereby, ___________, 20__. 

“Removed Account” means each credit card account that is designated as a Removed Account under this Reassignment and that is
identified on Schedule 1 to this Reassignment. 
 2. Designation of Removed Accounts. The Removed Accounts identified on Schedule
1 to this Reassignment are no longer designated as Accounts under the Receivables Purchase 

  
 B-1 

 
Agreement from and after the Removal Date. Schedule 1 is fully incorporated into this Reassignment and the Receivables Purchase Agreement and supplements the Account Schedule under the
Receivables Purchase Agreement from and after the Removal Date. 
 3. Conveyance of Reassigned Assets. 

(a) In consideration of WFBNA’s payment for the Reassigned Assets, Funding hereby sells and assigns to WFBNA, without recourse, all of
Funding’s right, title and interest of in, to, and under (i) the Receivables existing on the Removal Date and arising after the Removal Date in each Removed Account, (ii) all monies due or to become due with respect to such
Receivables (including all Finance Charge Receivables) in such Removed Accounts, (iii) all Interchange, Insurance Proceeds, and Recoveries allocable to such Receivables in such Removed Accounts, (iv) all Collections on such Receivables in
such Removed Accounts, and (v) all proceeds of any of the foregoing property (collectively, the “Reassigned Assets”). 

(b) In connection with such transfer, Funding agrees to execute and deliver to WFBNA on or prior to the date this Reassignment is delivered,
applicable termination statements prepared by WFBNA with respect to the Reassigned Assets related to Removed Accounts existing on the Removal Cut-Off Date and thereafter created from time to time in the
Removed Accounts reassigned hereby and the proceeds thereof evidencing the release by Funding of its interest in the Reassigned Assets in the Removed Accounts, and meeting the requirements of applicable state law, in such manner and such
jurisdictions as are necessary to terminate such interest. 
 4. Representations and Warranties of WFBNA. WFBNA hereby represents and
warrants to Funding as of the Removal Date: 
 (a) Legal Valid and Binding Obligation. This Reassignment, assuming due
authorization, execution and delivery by the other party hereto, constitutes a legal, valid and binding obligation of WFBNA enforceable against WFBNA in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws or
general principles of equity. 
 (b) List of Removed Accounts. The list of Removed Accounts attached hereto as
Schedule 1, is an accurate and complete listing in all material respects of all the Removed Accounts as of the Removal Cut-Off Date. 

5. Ratification. This Reassignment supplements the Receivables Purchase Agreement from and after the Removal Date, and the parties
ratify the Receivables Purchase Agreement as supplemented by this Reassignment. 
 6. Counterparts. This Reassignment may be executed
in any number of counterparts, each of which will be considered an original, but all of which together will constitute one agreement. Delivery by facsimile or other electronic transmission of an executed counterpart of a signature page to this
Reassignment and each other document delivered in accordance with, or pursuant to the terms hereof, shall be effective as delivery of an original executed counterpart of this Reassignment and such other document. Any party hereto may also require
that any such 

  
 B-2 

 
documents and signatures delivered by facsimile or other electronic transmission be confirmed by a manually signed original thereof; provided that the failure to request or deliver the same shall
not limit the effectiveness of any document or signature delivered by facsimile or other electronic transmission. 
 7. GOVERNING
LAW. 
 (a) THIS REASSIGNMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS
REASSIGNMENT AND THE RECEIVABLES PURCHASE AGREEMENT, THE RELATIONSHIP OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY
CONFLICTS OF LAW PRINCIPLES OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

(b) EACH PARTY HERETO, AND THE NOTEHOLDERS BY ACCEPTING THEIR INTEREST IN THE NOTES, HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL
COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM PERTAINING TO THIS REASSIGNMENT OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS
REASSIGNMENT; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF MANHATTAN IN NEW YORK CITY; PROVIDED FURTHER, THAT NOTHING IN
THIS REASSIGNMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE FUNDING FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE RECEIVABLES OR ANY SECURITY FOR THE OBLIGATIONS OF WFBNA ARISING HEREUNDER OR TO ENFORCE A
JUDGMENT OR OTHER COURT ORDER IN FAVOR OF FUNDING. EACH PARTY HERETO SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION THAT SUCH PARTY MAY HAVE
BASED UPON LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY HERETO HEREBY WAIVES PERSONAL SERVICE OF THE
SUMMONS, COMPLAINT AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS DETERMINED IN ACCORDANCE
WITH SECTION 9.03 OF THE RECEIVABLES PURCHASE AGREEMENT AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE (3) DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER
POSTAGE PREPAID. 

  
 B-3 

 
NOTHING IN THIS SECTION 7 SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

(c) BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED
AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST
COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM, THE PARTIES HERETO AND THE NOTEHOLDERS BY ACCEPTING THEIR INTEREST IN THE NOTES WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING
IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS REASSIGNMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. NOTHING IN THIS SECTION 7 SHALL
LIMIT THE RIGHTS OF ANY REQUESTING PARTY PURSUANT TO SECTION 6.03 OF THE RECEIVABLES PURCHASE AGREEMENT. 

  
 B-4 

 Executed as of this [__] day of [_____], 20[__]. 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 
		 	Name:
		 	Title:
	
	 WF CARD FUNDING, LLC

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 B-5 

 SCHEDULE 1 

TO REASSIGNMENT AGREEMENT 

REMOVED ACCOUNTS 

  
 S-1 

 SCHEDULE 5.02 

REQUIREMENTS OF FDIC RULE 

As required by the FDIC Rule: 

(a) As used in this Schedule, references to (i) “sponsor” means WFBNA, (ii) “issuing entity” means WF Card
Funding, LLC, the Issuer and each other transferee of the Purchased Assets that is an “issuing entity” as defined in the FDIC Rule, (iii) “servicer” means the Servicer and each other “servicer” of the financial assets
within the meaning of the FDIC Rule, (iv) “obligations” or “securitization obligations” means the notes issued by the Issuer pursuant to the Indenture, and (v) “financial assets” and “securitized financial
assets” means the Purchased Assets. 
 (b) The issuing entity shall make available to investors, information describing
the financial assets, obligations, capital structure, compensation of relevant parties, and relevant historical performance data set forth below: 

(i) On or prior to issuance of obligations and at the time of delivery of any periodic distribution report and, in any event,
at least once per calendar quarter, while obligations are outstanding, information about the obligations and the securitized financial assets shall be disclosed to all potential investors at the financial asset or pool level, as appropriate for the
financial assets, and security-level to enable evaluation and analysis of the credit risk and performance of the obligations and financial assets. Such information and its disclosure, at a minimum, shall comply with the requirements of Regulation AB
or any successor disclosure requirements for public issuances, even if the obligations are issued in a private placement or are not otherwise required to be registered; provided that information that is unknown or not available to the sponsor
or the issuing entity after reasonable investigation may be omitted if the issuing entity includes a statement in the offering documents disclosing that the specific information is otherwise unavailable; 

(ii) On or prior to issuance of obligations, the structure of the securitization and the credit and payment performance of the
obligations shall be disclosed, including the capital or tranche structure, the priority of payments and specific subordination features; representations and warranties made with respect to the financial assets, the remedies for and the time
permitted for cure of any breach of representations and warranties, including the repurchase of financial assets, if applicable; liquidity facilities and any credit enhancements permitted by the FDIC Rule, any waterfall triggers or priority of
payment reversal features; and policies governing delinquencies, servicer advances, loss mitigation, and write-offs of financial assets; 

(iii) While obligations are outstanding, the issuing entity shall provide to investors information with respect to the credit
performance of the obligations 

  
 S-5.02-1 

 
and the financial assets, including periodic and cumulative financial asset performance data, delinquency and modification data for the financial assets, substitutions and removal of financial
assets, servicer advances, as well as losses that were allocated to such tranche and remaining balance of financial assets supporting such tranche, if applicable, and the percentage of each tranche in relation to the securitization as a whole; and

 (iv) The nature and amount of compensation paid to the originator, sponsor, rating agency or third-party advisor, any
mortgage or other broker, and the servicer(s), and the extent to which any risk of loss on the underlying assets is retained by any of them for such securitization shall be disclosed. Issuer shall provide to investors while any obligations are
outstanding any changes to such information and the amount and nature of payments of any deferred compensation or similar arrangements to any of the parties. 

(c) The sponsor shall separately identify in its financial asset data bases the financial assets transferred into any securitization and
maintain an electronic or paper copy of the closing documents for each securitization in a readily accessible form a current list of all its outstanding securitizations and issuing entities and the most recent Form
10-K if applicable or other periodic financial report for each securitization and issuing entity. 

  
 S-5.02-2EX-4.2

 EXHIBIT 4.2 

 
  

 
 WF CARD
ISSUANCE TRUST 
 as Issuer 

WELLS FARGO BANK, NATIONAL ASSOCIATION 

as Paying Agent, and Note Registrar 

and 
 U.S. BANK
NATIONAL ASSOCIATION 
 as Indenture Trustee 

 
  

FORM OF INDENTURE 

Dated as of [________ __, ____] 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 ARTICLE I
	  	 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	4	 
			
	 Section 1.01.
	  	 Definitions
	  	 	4	 
	 Section 1.02.
	  	 Compliance Certificates and Opinions
	  	 	28	 
	 Section 1.03.
	  	 Form of Documents Delivered to Indenture Trustee
	  	 	29	 
	 Section 1.04.
	  	 Acts of Noteholders
	  	 	30	 
	 Section 1.05.
	  	 Notices, etc., to Indenture Trustee and Issuer
	  	 	31	 
	 Section 1.06.
	  	 Notices to Noteholders; Waiver
	  	 	31	 
	 Section 1.07.
	  	 Conflict with Trust Indenture Act
	  	 	32	 
	 Section 1.08.
	  	 Effect of Headings and Table of Contents
	  	 	32	 
	 Section 1.09.
	  	 Successors and Assigns
	  	 	32	 
	 Section 1.10.
	  	 Separability
	  	 	32	 
	 Section 1.11.
	  	 Benefits of Indenture
	  	 	32	 
	 Section 1.12.
	  	 GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL
	  	 	33	 
	 Section 1.13.
	  	 Counterparts
	  	 	34	 
	 Section 1.14.
	  	 Indenture Referred to in the Trust Agreement
	  	 	34	 
	 Section 1.15.
	  	 Legal Holidays
	  	 	34	 
	 Section 1.16.
	  	 Electronic Signatures
	  	 	34	 
			
	 ARTICLE II
	  	 NOTE FORMS
	  	 	35	 
			
	 Section 2.01.
	  	 Forms Generally
	  	 	35	 
	 Section 2.02.
	  	 Forms of Notes
	  	 	35	 
	 Section 2.03.
	  	 Form of Indenture Trustee’s Certificate of Authentication
	  	 	35	 
	 Section 2.04.
	  	 Notes Issuable in the Form of a Global Note
	  	 	36	 
	 Section 2.05.
	  	 Temporary Global Notes and Permanent Global Notes
	  	 	38	 
	 Section 2.06.
	  	 Beneficial Ownership of Global Notes
	  	 	38	 
	 Section 2.07.
	  	 Notices to Depository
	  	 	39	 
			
	 ARTICLE III
	  	 THE NOTES
	  	 	40	 
			
	 Section 3.01.
	  	 General Title; General Limitations; Issuable in Series; Terms of a Series, Class or
Tranche
	  	 	40	 
	 Section 3.02.
	  	 Denominations
	  	 	43	 
	 Section 3.03.
	  	 Execution, Authentication and Delivery and Dating
	  	 	43	 
	 Section 3.04.
	  	 Temporary Notes
	  	 	44	 
	 Section 3.05.
	  	 Registration, Transfer and Exchange
	  	 	44	 
	 Section 3.06.
	  	 Mutilated, Destroyed, Lost and Stolen Notes
	  	 	47	 
	 Section 3.07.
	  	 Payment of Interest; Interest Rights Preserved
	  	 	47	 
	 Section 3.08.
	  	 Persons Deemed Owners
	  	 	48	 
	 Section 3.09.
	  	 Cancellation
	  	 	48	 
	 Section 3.10.
	  	 New Issuances of Notes
	  	 	48	 

  
 -i- 

							
	 Section 3.11.
	  	 Specification of Required Subordinated Amount and Adjustments Thereto
	  	 	50	 
	 Section 3.12.
	  	 Reallocation Groups
	  	 	50	 
	 Section 3.13.
	  	 Excess Available Funds Sharing Groups
	  	 	51	 
	 Section 3.14.
	  	 Excess Available Principal Amount Sharing Groups
	  	 	51	 
			
	 ARTICLE IV
	  	 TRUST ACCOUNTS AND INVESTMENTS
	  	 	52	 
			
	 Section 4.01.
	  	 Collections
	  	 	52	 
	 Section 4.02.
	  	 Trust Accounts
	  	 	52	 
	 Section 4.03.
	  	 Investment of Funds in the Trust Accounts
	  	 	54	 
			
	 ARTICLE V
	  	 ALLOCATIONS, DEPOSITS AND PAYMENTS
	  	 	56	 
			
	 Section 5.01.
	  	 Collections
	  	 	56	 
	 Section 5.02.
	  	 Allocations to Noteholders; Allocations to Holder of the Transferor Interest
	  	 	56	 
	 Section 5.03.
	  	 Collections of Finance Charge Receivables Allocable to the Segregated Transferor
Interest
	  	 	57	 
	 Section 5.04.
	  	 Deposit of Reassignment Amount Pursuant to Subsection 2.04(e) of the Transfer
Agreement
	  	 	58	 
	 Section 5.05.
	  	 Final Payment
	  	 	58	 
	 Section 5.06.
	  	 Payments within a Series, Class or Tranche
	  	 	58	 
	 Section 5.07.
	  	 Notice of Allocations and Disbursements
	  	 	59	 
			
	 ARTICLE VI
	  	 SATISFACTION AND DISCHARGE; CANCELLATION OF NOTES HELD BY THE ISSUER
	  	 	59	 
			
	 Section 6.01.
	  	 Satisfaction and Discharge of Indenture
	  	 	59	 
	 Section 6.02.
	  	 Application of Trust Money
	  	 	60	 
	 Section 6.03.
	  	 Cancellation of Notes Held by the Issuer
	  	 	60	 
			
	 ARTICLE VII
	  	 EVENTS OF DEFAULT AND REMEDIES
	  	 	61	 
			
	 Section 7.01.
	  	 Events of Default
	  	 	61	 
	 Section 7.02.
	  	 Acceleration of Maturity; Rescission and Annulment
	  	 	62	 
	 Section 7.03.
	  	 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee
	  	 	63	 
	 Section 7.04.
	  	 Indenture Trustee May File Proofs of Claim
	  	 	64	 
	 Section 7.05.
	  	 Indenture Trustee May Enforce Claims Without Possession of Notes
	  	 	65	 
	 Section 7.06.
	  	 Application of Money Collected
	  	 	65	 
	 Section 7.07.
	  	 Indenture Trustee May Elect to Hold the Collateral
	  	 	65	 
	 Section 7.08.
	  	 Sale of Receivables for Accelerated Notes
	  	 	65	 
	 Section 7.09.
	  	 Noteholders Have the Right to Direct the Time, Method and Place of Conducting Any Proceeding
for
Any Remedy Available to the Indenture Trustee
	  	 	66	 
	 Section 7.10.
	  	 Limitation on Suits
	  	 	66	 

  
 -ii- 

							
	 Section 7.11.
	  	 Unconditional Right of Noteholders to Receive Principal and Interest; Limited
Recourse
	  	 	67	 
	 Section 7.12.
	  	 Restoration of Rights and Remedies
	  	 	67	 
	 Section 7.13.
	  	 Rights and Remedies Cumulative
	  	 	67	 
	 Section 7.14.
	  	 Delay or Omission Not Waiver
	  	 	67	 
	 Section 7.15.
	  	 Control by Noteholders
	  	 	68	 
	 Section 7.16.
	  	 Waiver of Past Defaults
	  	 	68	 
	 Section 7.17.
	  	 Undertaking for Costs
	  	 	68	 
	 Section 7.18.
	  	 Waiver of Stay or Extension Laws
	  	 	69	 
			
	 ARTICLE VIII
	  	 THE INDENTURE TRUSTEE
	  	 	70	 
			
	 Section 8.01.
	  	 Certain Duties and Responsibilities
	  	 	70	 
	 Section 8.02.
	  	 Notice of Defaults
	  	 	71	 
	 Section 8.03.
	  	 Certain Rights of Indenture Trustee
	  	 	72	 
	 Section 8.04.
	  	 Not Responsible for Recitals or Issuance of Notes
	  	 	74	 
	 Section 8.05.
	  	 May Hold Notes
	  	 	74	 
	 Section 8.06.
	  	 Money Held in Trust
	  	 	74	 
	 Section 8.07.
	  	 Compensation and Reimbursement, Limit on Compensation, Reimbursement and
Indemnity
	  	 	74	 
	 Section 8.08.
	  	 Disqualification; Conflicting Interests
	  	 	75	 
	 Section 8.09.
	  	 Corporate Indenture Trustee Required; Eligibility
	  	 	75	 
	 Section 8.10.
	  	 Resignation and Removal; Appointment of Successor
	  	 	76	 
	 Section 8.11.
	  	 Acceptance of Appointment by Successor
	  	 	77	 
	 Section 8.12.
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	 	78	 
	 Section 8.13.
	  	 Preferential Collection of Claims Against Issuer
	  	 	78	 
	 Section 8.14.
	  	 Appointment of Authenticating Agent
	  	 	78	 
	 Section 8.15.
	  	 Tax Returns
	  	 	80	 
	 Section 8.16.
	  	 Representations and Covenants of the Indenture Trustee
	  	 	81	 
	 Section 8.17.
	  	 Custody of the Collateral
	  	 	81	 
	 Section 8.18.
	  	 Indenture Trustee’s Application for Instructions from the Issuer
	  	 	81	 
	 Section 8.19.
	  	 Account Information Confidential
	  	 	82	 
			
	 ARTICLE IX
	  	 LISTS, REPORTS BY INDENTURE TRUSTEE, ISSUER AND BENEFICIARY
	  	 	83	 
			
	 Section 9.01.
	  	 Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders
	  	 	83	 
	 Section 9.02.
	  	 Preservation of Information; Communications to Noteholders
	  	 	83	 
	 Section 9.03.
	  	 Reports by Indenture Trustee
	  	 	84	 
	 Section 9.04.
	  	 Reports by Issuer to the Commission
	  	 	85	 
	 Section 9.05.
	  	 Reports by Indenture Trustee
	  	 	86	 
	 Section 9.06.
	  	 Monthly Noteholders’ Statement
	  	 	86	 

  
 -iii- 

							
	 ARTICLE X
	  	 INDENTURE SUPPLEMENTS AND AMENDMENTS TO THE TRUST AGREEMENT
	  	 	87	 
			
	 Section 10.01.
	  	 Supplemental Indentures Without Consent of Noteholders
	  	 	87	 
	 Section 10.02.
	  	 Supplemental Indentures with Consent of Noteholders
	  	 	88	 
	 Section 10.03.
	  	 Execution of Indenture Supplements
	  	 	90	 
	 Section 10.04.
	  	 Effect of Indenture Supplements
	  	 	90	 
	 Section 10.05.
	  	 Conformity with Trust Indenture Act
	  	 	90	 
	 Section 10.06.
	  	 Reference in Notes to Indenture Supplements
	  	 	90	 
	 Section 10.07.
	  	 Amendments to the Transfer Agreement, the Servicing Agreement, the Asset Representations
Review Agreement
	  	 	91	 
	 Section 10.08.
	  	 Amendments to the Trust Agreement
	  	 	91	 
			
	 ARTICLE XI
	  	 REPRESENTATIONS, WARRANTIES AND COVENANTS OF ISSUER
	  	 	92	 
			
	 Section 11.01.
	  	 Payment of Principal and Interest
	  	 	92	 
	 Section 11.02.
	  	 Maintenance of Office or Agency
	  	 	92	 
	 Section 11.03.
	  	 Money for Note Payments to Be Held in Trust
	  	 	92	 
	 Section 11.04.
	  	 Statement as to Compliance
	  	 	94	 
	 Section 11.05.
	  	 Legal Existence
	  	 	94	 
	 Section 11.06.
	  	 Further Instruments and Acts
	  	 	94	 
	 Section 11.07.
	  	 Compliance with Laws
	  	 	95	 
	 Section 11.08.
	  	 Notice of Certain Events
	  	 	95	 
	 Section 11.09.
	  	 Certain Negative Covenants
	  	 	95	 
	 Section 11.10.
	  	 No Other Business
	  	 	96	 
	 Section 11.11.
	  	 No Borrowing
	  	 	96	 
	 Section 11.12.
	  	 Rule 144A Information
	  	 	96	 
	 Section 11.13.
	  	 Performance of Obligations; Servicing of Receivables
	  	 	96	 
	 Section 11.14.
	  	 Issuer May Consolidate, Etc., Only on Certain Terms
	  	 	97	 
	 Section 11.15.
	  	 Successor Substituted
	  	 	99	 
	 Section 11.16.
	  	 Guarantees, Loans, Advances and Other Liabilities
	  	 	99	 
	 Section 11.17.
	  	 Capital Expenditures
	  	 	100	 
	 Section 11.18.
	  	 Restricted Payments
	  	 	100	 
			
	 ARTICLE XII
	  	 EARLY REDEMPTION OF NOTES
	  	 	101	 
			
	 Section 12.01.
	  	 Applicability of Article
	  	 	101	 
	 Section 12.02.
	  	 Optional Repurchase
	  	 	102	 
	 Section 12.03.
	  	 Notice
	  	 	102	 
			
	 ARTICLE XIII
	  	 COLLATERAL
	  	 	103	 
			
	 Section 13.01.
	  	 Recording and Other Items
	  	 	103	 
	 Section 13.02.
	  	 Trust Indenture Act Requirements
	  	 	104	 
	 Section 13.03.
	  	 Suits to Protect the Collateral
	  	 	104	 

  
 -iv- 

							
	 Section 13.04.
	  	 Purchaser Protected
	  	 	105	 
	 Section 13.05.
	  	 Powers Exercisable by Receiver or Indenture Trustee
	  	 	105	 
	 Section 13.06.
	  	 Determinations Relating to Collateral
	  	 	105	 
	 Section 13.07.
	  	 Release of Collateral
	  	 	106	 
	 Section 13.08.
	  	 Certain Actions by Indenture Trustee
	  	 	107	 
	 Section 13.09.
	  	 Opinions as to Collateral
	  	 	107	 
	 Section 13.10.
	  	 Delegation of Duties
	  	 	107	 
			
	 ARTICLE XIV
	  	 COMPLIANCE WITH REGULATION AB
	  	 	108	 
			
	 Section 14.01.
	  	 Intent of the Parties; Reasonableness
	  	 	108	 
	 Section 14.02.
	  	 Additional Representations and Warranties of the Paying Agent, the Note Registrar and
the Indenture Trustee
	  	 	108	 
	 Section 14.03.
	  	 Information to Be Provided by the Paying Agent, the Note Registrar and the Indenture
Trustee
	  	 	108	 
	 Section 14.04.
	  	 Report on Assessment of Compliance and Attestation
	  	 	110	 
	 Section 14.05.
	  	 Investor Communication
	  	 	111	 
	 Section 14.06.
	  	 Noteholder Action to Initiate an Asset Representations Review
	  	 	111	 
			
	 ARTICLE XV
	  	 COMPLIANCE WITH THE FDIC RULE
	  	 	113	 
			
	 Section 15.01
	  	 Purpose
	  	 	113	 
	 Section 15.02
	  	 Performance of the FDIC Rule Requirements
	  	 	113	 
	 Section 15.03
	  	 Actions upon Repudiation
	  	 	113	 
	 Section 15.04
	  	 Notice
	  	 	114	 
	 Section 15.05
	  	 Reservation of Rights
	  	 	114	 
	 Section 15.06.
	  	 No Obligation to Monitor or Enforce Compliance
	  	 	114	 
			
	 ARTICLE XVI
	  	 MISCELLANEOUS
	  	 	115	 
			
	 Section 16.01.
	  	 No Petition
	  	 	115	 
	 Section 16.02.
	  	 Trust Obligations
	  	 	115	 
	 Section 16.03.
	  	 Limitations on Liability
	  	 	115	 
	 Section 16.04.
	  	 Tax Treatment
	  	 	116	 
	 Section 16.05.
	  	 Actions Taken by the Issuer
	  	 	116	 
	 Section 16.06.
	  	 Alternate Payment Provisions
	  	 	116	 
	 Section 16.07.
	  	 Termination of Issuer
	  	 	117	 
	 Section 16.08.
	  	 Final Distribution
	  	 	117	 
	 Section 16.09.
	  	 Termination Distributions
	  	 	118	 
	 Section 16.10.
	  	 Derivative Counterparty as Third-Party Beneficiary
	  	 	118	 
			
	 ARTICLE XVII
	  	 THE PAYING AGENT AND THE NOTE REGISTRAR
	  	 	119	 
			
	 Section 17.01.
	  	 Duties of Paying Agent and Note Registrar
	  	 	119	 
	 Section 17.02.
	  	 Compensation; Reimbursement; Indemnification
	  	 	124	 
	 Section 17.03.
	  	 Representations and Covenants of the Paying Agent and the Note Registrar
	  	 	125	 

  
 -v- 

							
	 Section 17.04.
	  	 Successor Paying Agent or Note Registrar
	  	 	125	 

 EXHIBITS 
  

			
	EXHIBIT A	  	[FORM OF] INVESTMENT LETTER
		
	EXHIBIT B	  	[FORM OF] SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
		
	EXHIBIT C	  	[FORM OF] ANNUAL CERTIFICATION
		
	EXHIBIT D	  	[FORM OF] NOTICE OF EXCLUSIVE CONTROL
		
	SCHEDULE I	  	REQUIREMENTS OF FDIC RULE

  
 -vi- 

 RECONCILIATION AND TIE BETWEEN TRUST INDENTURE 

ACT OF 1939 AND INDENTURE PROVISIONS* 

 

			
	 Trust Indenture

Act Section
	  	Indenture Section
	 310(a)(1)
	  	8.09
	 (a)(2)
	  	8.09
	 (a)(3)
	  	Not Applicable
	 (a)(4)
	  	Not Applicable
	 (a)(5)
	  	8.09
	 (b)
	  	8.08, 8.10(d)(i)
	 (c)
	  	Not Applicable
	 311(a)
	  	8.13
	 (b)
	  	8.13
	 (c)
	  	Not Applicable
	 312(a)
	  	9.01, 9.02(a)
	 (b)
	  	9.02(b)
	 (c)
	  	9.02(c)
	 313(a)
	  	9.03
	 (b)
	  	9.03(c)
	 (c)
	  	9.03, 9.03(c)
	 (d)
	  	9.04
	 314(a)
	  	9.04, 11.04
	 (b)
	  	13.09
	 (c)(1)
	  	1.02, 6.01(c), 13.07
	 (c)(2)
	  	1.02, 6.01(c), 13.07
	 (c)(3)
	  	1.02, 6.01(c), 13.07
	 (d)(1)
	  	13.02
	 (d)(2)
	  	Not Applicable
	 (d)(3)
	  	Not Applicable
	 (e)
	  	1.02
	 315(a)
	  	8.01(a), 8.01(b)
	 (b)
	  	8.02
	 (c)
	  	8.01(c)
	 (d)
	  	8.01(d)
	 (d)(1)
	  	8.01(d)(i)
	 (d)(2)
	  	8.01(d)(ii)
	 (d)(3)
	  	8.01(d)(iii)
	 (e)
	  	7.17
	 316(a)(1)(A)
	  	7.09
	 316(a)(1)(B)
	  	7.16
	 316(a)(2)
	  	Not Applicable
	 316(b)
	  	7.11
	 317(a)(1)
	  	7.03, 7.05
	 317(a)(2)
	  	7.04
	 317(b)
	  	11.03
	 318(a)
	  	1.07

  

	* 	 This reconciliation and tie shall not, for any purpose be part of the within indenture. 

  
 -vii- 

 THIS INDENTURE by and among WF CARD ISSUANCE TRUST, a statutory trust created under the laws
of the State of Delaware, as issuer (the “Issuer”), having its principal office at c/o Wilmington Trust, National Association, as owner trustee, 1100 North Market Street, Wilmington, Delaware 19890, WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, not in its individual capacity but solely in its capacity as Paying Agent and as Note Registrar (each as defined herein), and U.S.
BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, in its capacity as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of
[________ __, ____]. 
 RECITALS OF THE ISSUER 

The Issuer has duly authorized the execution and delivery of this Indenture to provide for the issuance of asset backed notes as provided in
this Indenture and any related indenture supplement. The Issuer, through this Indenture, has provided security for such obligations to the extent and as provided herein. All covenants and agreements made by the Issuer herein are for the benefit
and security of the other parties hereto and the Noteholders. 
 The Issuer is entering into this Indenture, and the Indenture Trustee is
accepting the trusts created hereby, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. All things necessary have been done to make the Notes, when executed from time to time hereafter, by the Issuer
and when authenticated and delivered from time to time hereafter, by the Note Registrar hereunder, and when duly issued from time to time hereafter, by the Issuer, the valid obligations of the Issuer, and to make this Indenture a valid agreement of
the Issuer, in accordance with their and its terms. 
 GRANTING CLAUSE 

The Issuer hereby grants to the Indenture Trustee for the benefit and security of (a) the Noteholders, (b) each Derivative
Counterparty to a Derivative Agreement entered into in connection with issuance of a Tranche of Notes that expressly states that such Derivative Counterparty is entitled to the benefit of the Collateral, (c) the Indenture Trustee, in its
individual capacity, and (d) the Note Registrar and the Paying Agent, each in its individual capacity, a security interest in all of its right, title and interest, whether now owned or hereafter acquired, in, to and under: 

(i) (A) the Receivables existing on the close of business on the Closing Date and arising after the Closing Date in each Initial Account, and
the Receivables existing on the close of business on the related Addition Date and arising after that Addition Date in each Additional Account, (B) all monies due or to become due with respect to such Receivables (including all Finance Charge
Receivables), (C) all Interchange, Insurance Proceeds, and Recoveries allocable to the Receivables, (D) all Collections on the Receivables, and (E) all proceeds of any of the foregoing property; 

 (ii) the Collection Account; 

(iii) the Excess Funding Account; 

(iv) any Supplemental Account; 

(v) all sub-Accounts in the Collection Account or any Supplemental Account; 

(vi) all investment property, money and other property held in or through the Collection Account, any Supplemental Account or any sub-Account thereof; 
 (vii) all rights, benefits and powers under any Derivative Agreement relating to
any Tranche of Notes; 
 (viii) all rights of enforcement against any of the representations and warranties made by the Beneficiary pursuant
to the Trust Agreement; 
 (ix) all rights, benefits and powers under the Transfer Agreement, the Servicing Agreement and the Receivables
Purchase Agreement; 
 (x) all present and future claims, demands, causes of and choses in action in respect of any of the foregoing and all
interest, principal, payments and distributions of any nature or type on any of the foregoing; 
 (xi) all accounts, general intangibles,
chattel paper, instruments, documents, goods, money, investment property, deposit accounts, certificates of deposit, letters of credit, letter-of-credit rights and
advices of credit consisting of, arising from, or relating to any of the foregoing; and 
 (xii) all monies due or to become due with
respect to all of the foregoing; 
 (xiii) all amounts received with respect to all of the foregoing; and 

(xiv) all proceeds of the foregoing. 

The collateral described above is referred to as the “Collateral.” The Security Interest in the Collateral is granted to
secure the Notes (and, to the extent specified in the applicable Indenture Supplement or Derivative Agreement, the obligations under any applicable Derivative Agreements) equally and ratably without prejudice, priority or distinction between any
Note and any other Note by reason of difference in time of issuance or otherwise, except as otherwise expressly provided in this Indenture, or in the Indenture Supplement which establishes any Series, Class or Tranche of Notes, and to secure
(i) the payment of all amounts due on such Notes (and, to the extent so specified, the obligations under any applicable Derivative Agreements) in accordance with their terms, (ii) the payment of all other sums payable by the Issuer under
this Indenture or any Indenture Supplement and (iii) compliance by the Issuer with 

  
 -2- 

 
the provisions of this Indenture or any Indenture Supplement. This Indenture is a security agreement within the meaning of the UCC. 

The Indenture Trustee acknowledges the grant of such Security Interest, and accepts the Collateral in trust hereunder in accordance with the
provisions hereof and agrees to perform the duties herein to the end that the interests of the Noteholders may be adequately and effectively protected. 

Particular Notes and Derivative Agreements will benefit from the Security Interest to the extent (and only to the extent) proceeds of and
distributions on the Collateral are allocated for their benefit pursuant to this Indenture and the applicable Indenture Supplement. 

AGREEMENTS OF THE PARTIES 

To set forth or to provide for the establishment of the terms and conditions upon which the Notes are and are to be authenticated, issued and
delivered, and in consideration of the premises and the purchase of Notes by the Holders thereof, it is mutually covenanted and agreed as follows, for the equal and proportionate benefit of all Holders of the Notes or of a Series, Class or
Tranche thereof, as the case may be: 

  
 -3- 

 LIMITED RECOURSE 

The obligation of the Issuer to make payments of principal, interest and other amounts on the Notes and to make payments on Derivative
Agreements is limited in recourse as set forth in Section 7.11. 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.01.    Definitions. For all purposes of this Indenture and of any Indenture
Supplement, except as otherwise expressly provided or unless the context otherwise requires: 
 (1)    The terms defined
in this Article have the meanings assigned to them in this Article. 
 (2)    All terms defined in this Indenture shall
have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. 

(3)     All other terms used herein which are defined in the Trust Indenture Act or by Commission rule under the Trust
Indenture Act, either directly or by reference therein, have the meanings assigned to them therein. 
 (4)    As used
herein and in any certificate or other document made or delivered pursuant hereto or thereto, accounting terms not defined herein, and accounting terms partially defined herein to the extent not defined, shall have the respective meanings given to
them under generally accepted accounting principles or regulatory accounting principles, as applicable. To the extent that the definitions of accounting terms herein are inconsistent with the meanings of such terms under generally accepted
accounting principles or regulatory accounting principles, the definitions contained herein shall control. The term “generally accepted accounting principles” with respect to any computation required or permitted hereunder means such
accounting principles as are generally accepted in the United States of America at the date of such computation. 

(5)    The words “hereof,” “herein” and “hereunder” and words of similar import when used in
this Indenture shall refer to this Indenture as a whole and not to any particular provision of this Indenture; and Section, subsection, Schedule and Exhibit references contained in this Indenture are references to Sections, subsections, Schedules
and Exhibits in or to this Indenture unless otherwise specified. The term “including” and words of similar import will be deemed to be followed by “without limitation.” The canon of ejusdem generis may be applied only in
the context of this Indenture’s purpose and not merely in the context of a particular phrase. 

  
 -4- 

 (6)    A reference to any law is to that law as amended or supplemented
to the applicable time. A reference to any agreement, document, policy, or procedure is to that agreement, document, policy, or procedure as amended or supplemented to the applicable time. A reference to any Person includes that Person’s
successors and permitted assigns. Wherever from the context it appears appropriate, each term defined in either the singular or the plural form incorporates both the singular and the plural form of such term. 

“Account” means each Initial Account and each Additional Account. This term includes an Additional Account only from and
after the applicable Addition Date. This term does not include any Removed Accounts from and after their Removal Date. This term does not include any Account from and after the date on which all of its Receivables have been reassigned from the
Issuer to the Transferor pursuant to subsection 2.04(d) or (e) of the Transfer Agreement. 
 “Account
Information” has the meaning specified in Section 8.19. 
 “Account Schedule” means a
true and complete schedule of all Accounts that is attached to the Transfer Agreement and marked as Schedule 1 thereto. The Account Schedule may take the form of a computer file, or another tangible or electronic medium that is commercially
reasonable. The Account Schedule must identify each Account by its account identification number and all or a portion of the cardholder account number (or by an alpha-numeric identifier that uniquely and objectively identifies the applicable Account
pursuant to a protocol that has been provided to Funding, the Issuer and the Indenture Trustee) and by the balance of the Receivables existing in that Account on the Closing Date (for each Initial Account) or the related Addition Date (for each
Additional Account) unless otherwise provided in subsection 2.01(e). 
 “Act,” when used with respect to any
Noteholder, is defined in Section 1.04(a). 
 “Action,” when used with respect to any Noteholder,
is defined in Section 1.04(a). 
 “Addition Date” has the meaning specified in the Transfer
Agreement. 
 “Additional Account” means each credit card account that is designated as an Account under the Transfer
Agreement and the related Assignment after the Closing Date and that is identified on the Account Schedule from and after the related Addition Date. The term “Additional Account” shall include any Transferred Account related to any such
Additional Account. 
 “Adjusted Outstanding Dollar Principal Amount” means at any time with respect to any Series,
Class or Tranche of Notes, the Outstanding Dollar Principal Amount of all Outstanding Notes of such Series, Class or Tranche at such time, less any funds on deposit in the Principal Funding Account or the related sub-Account, as applicable, for such Series, Class or Tranche at such time. 

  
 -5- 

 “Adverse Effect” means, with respect to any Series, Class or Tranche
of Notes with respect to any action, that such action will (a) at the time of its occurrence or at any future date result in the occurrence of an Early Redemption Event or Event of Default relating to such Series, Class or Tranche, as
applicable, (b) adversely affect the amount of funds available to be distributed to the Noteholders of any such Series, Class or Tranche pursuant to this Indenture or any applicable Indenture Supplement or the timing of such distributions,
or (c) adversely affect the security interest of the Indenture Trustee in the Collateral. 
 “Affiliate” means, with
respect to any specified Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with
respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. 
 “Aggregate Investor Percentage” with respect to
Principal Receivables, Finance Charge Receivables and Receivables in Defaulted Accounts, as the case may be, means, as of any date of determination, the sum of such Investor Percentages of all Series of Notes issued and outstanding on such date of
determination; provided, however, that the Aggregate Investor Percentage shall not exceed 100%. 
 “Aggregate Nominal
Liquidation Amount” means, as of any date of determination, the sum of Nominal Liquidation Amounts of all Series of Notes issued and outstanding on such date of determination. 

“Annual Membership Fee” means an annual membership fee or similar fee that is charged to an Account under the related Credit
Card Agreement. 
 “Asset Representations Review Agreement” means the Asset Representations Review Agreement, dated as of
[________ __, ____], among the Transferor, WFBNA and the Asset Representations Reviewer. 
 “Asset Representations Review”
means the review of the Asset Representations Reviewer conducted pursuant to the Asset Representations Review Agreement. 
 “Asset
Representations Reviewer” means Clayton Fixed Income Services LLC, a Delaware limited liability company, and its successors and any entity resulting from or surviving any consolidation or merger to which it or its successors may be a party,
and any successor asset representations reviewer appointed as provided in the Asset Representations Review Agreement. 
 “Asset
Review Quorum” means Noteholders evidencing 5.0% in Outstanding Dollar Principal Amount of all Notes outstanding. 

“Assignment” has the meaning specified in the Transfer Agreement. 

  
 -6- 

 “Authenticating Agent” means any Person authorized by the Indenture Trustee
to authenticate Notes under Section 8.14. 
 “Available Funds” (a) with respect to all Series of
Notes, and with respect to any Monthly Period, means the sum of the amounts determined pursuant to clause (b) of this definition for each Series of Notes, and (b) with respect to any Series of Notes, has the meaning specified in the
related Indenture Supplement. 
 “Available Funds Allocation Amount” means, on any date of determination during any Monthly
Period for any Tranche, Class or Series of Notes (exclusive of (x) any Notes within such Tranche, Class or Series which will be paid in full during such Monthly Period, and (y) any Notes which will have a Nominal Liquidation
Amount of zero during such Monthly Period), an amount equal to the sum of (a) the Nominal Liquidation Amount for such Tranche, Class or Series, as applicable, as of the last day of the preceding Monthly Period, plus (b) the
aggregate amount of any increases in the Nominal Liquidation Amount of such Tranche, Class or Series, as applicable, as a result of (x) the issuance of a new Tranche of Notes or the issuance of additional Notes in an Outstanding Tranche of
Notes, (y) the accretion of principal on Discount Notes of such Tranche, Class or Series, as applicable, or (z) the release of prefunded amounts (other than prefunded amounts deposited during such Monthly Period) for such Tranche,
Class or Series, as applicable, from a Principal Funding sub-Account, in each case during such Monthly Period. 

“Available Principal Amounts” (a) with respect to all Series of Notes and with respect to any Monthly Period, means the sum
of the amounts determined pursuant to clause (b) of this definition for each such Series and (b) with respect to any Series of Notes, has the meaning specified in the related Indenture Supplement. 

“Average Principal Receivables” means, for any period, an amount equal to (a) the sum of the aggregate amount of
Principal Receivables at the end of each Date of Processing during such period, divided by (b) the number of Dates of Processing occurring in such period. 

“Beneficiary” has the meaning specified in the Trust Agreement. 

“Business Day,” unless otherwise specified in the Indenture Supplement for any Tranche of Notes, means any day other than
(a) a Saturday or Sunday or (b) any other day on which national banking associations or state banking institutions in New York, New York, Wilmington, Delaware, Minneapolis, Minnesota, or Charlotte, North Carolina, are authorized
or obligated by law, executive order or governmental decree to be closed. 
 “Cash Advance Fee” means a cash advance fee or
similar fee that is charged to an Account under the related Credit Card Agreement. 
 “Class” means, with respect to any
Note, the Class specified in the applicable Indenture Supplement. 
 “Closing Date” means [________ __, ____]. 

  
 -7- 

 “Collateral” has the meaning specified in the Granting Clause. 

“Collection Account” has the meaning specified in subsection 4.02(a)(i)(A). 

“Collections” means all payments on Receivables in the form of cash, checks, wire transfers, electronic transfers, ATM
transfers, or any other form of payment. This term includes Insurance Proceeds. This term also includes the amount of Interchange received by the Issuer and deposited into the Collection Account, to be applied as if such amount were Collections of
Finance Charge Receivables. This term also includes the amount of Investment Earnings received by the Issuer with respect to the related Monthly Period (to the extent received by the Issuer and deposited into the Collection Account, on the Transfer
Date following the related Monthly Period), to be applied as if such amount were Collections of Finance Charge Receivables. This term also includes Recoveries received by the Issuer, to be applied as if such Recoveries were Collections of Finance
Charge Receivables. 
 “Commission” means the U.S. Securities and Exchange Commission, as from time to time constituted,
created under the Exchange Act, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on such date.

 “Corporate Trust Office” means (x) with respect to the Indenture Trustee, the office of the Indenture Trustee at
which at any particular time its corporate trust business will be principally administered, which office at the date hereof is located at U.S. Bank National Association One Federal St, 3rd Floor,
Boston, MA 02110, Attention: Wells Fargo Card Issuance Trust Or such other address as the Indenture Trustee may designate from time to time, or the principal corporate trust office of any successor Indenture Trustee and (y) with respect to the
Paying Agent and the Note Registrar, the corporate trust office thereof at which at any particular time its corporate trust business with respect to the Transaction Documents is conducted, which office at the date hereof is located at MAC N9300-061, 600 S. 4th Street, Minneapolis, Minnesota 55415, Attention: Corporate Trust Services – Asset Backed Administration, or at such other address as
such party may designate from time to time by notice to the other parties to this Indenture. 
 “Credit Card Agreement”
means, for any credit card account, the agreement (including any related statement under the Truth in Lending Act) between WFBNA and the related Obligor governing that account. 

“Credit Card Guidelines” means WFBNA’s policies and procedures (a) relating to the operation of its credit card
business, including the policies and procedures for determining the creditworthiness of credit card customers and the extension of credit to credit card customers, and (b) relating to the maintenance of credit card accounts and the collection
of credit card receivables. 
 “Daily Principal Amount” means, with respect to any Series, Class or Tranche of Notes
and for any Date of Processing during any Monthly Period on which Collections of Principal Receivables are processed, an amount equal to the product of (a) the aggregate amount 

  
 -8- 

 
of Collections of Principal Receivables processed on such date and (b) the percentage equivalent of a fraction, the numerator of which is the Principal Allocation Amount for such Series,
Class or Tranche of Notes for such day and the denominator of which is the Principal Allocation Amount for all Series of Notes for such day. 

“Date of Processing” means, with respect to any transaction, the date on which such transaction is first recorded on the
Servicer’s computer master file of credit card accounts (without regard to the effective date of such recordation) and, with respect to Interchange, the date on which any amount of Interchange is received by WFBNA. 

“Default Amount” means, with respect to any Defaulted Account, the amount of Principal Receivables (other than Ineligible
Receivables) in such Defaulted Account on the day such Account became a Defaulted Account. 
 “Defaulted Account” means any
Account containing only Receivables that have been charged off as uncollectible under the Credit Card Guidelines and the Servicer’s customary and usual procedures for servicing credit card accounts. An Account becomes a Defaulted Account on the
date on which all of its Receivables are recorded as charged-off on the Servicer’s master computer file of credit card accounts. 

“Definitive Note” shall mean the Notes issued in definitive form, registered in the name of the legal or beneficial owner
thereof attached without interest coupons. 
 “Delinquency Trigger” has the meaning specified in the Transfer Agreement.

 “Depository” means a U.S. Depository or a Foreign Depository, as the case may be. 

“Derivative Agreement” means any currency, interest rate or other swap, cap, collar, guaranteed investment contract or other
derivative agreement. 
 “Derivative Counterparty” means any party to any Derivative Agreement other than the Issuer or the
Indenture Trustee. 
 “Determination Date” means, unless otherwise specified in the related Indenture Supplement, the
second Business Day prior to each Transfer Date. 
 “Discount Note” means a Note that provides for an amount less than the
Stated Principal Amount (but not less than the Initial Dollar Principal Amount) thereof to be due and payable upon the occurrence of an Early Redemption Event or other optional or mandatory redemption or the occurrence of an Event of Default and the
acceleration of such Note, in each case before the Expected Principal Payment Date of the applicable Note. 
 “Discount Option
Receivables” has the meaning specified in the Transfer Agreement. 

  
 -9- 

 “Distribution Date” means, with respect to each Series, the dates specified
in the related Indenture Supplement. 
 “Dollar” means (a) United States dollars, or (b) denominated in United
States dollars. 
 “Draft Fee” means a draft fee or similar fee that is charged to an Account under the related Credit Card
Agreement. 
 “Early Redemption Event” has the meaning specified in Section 12.01. 

“Effective Date” means the date on which this Indenture is executed and delivered by the parties hereto. 

“Eligible Servicer” has the meaning specified in the Servicing Agreement. 

“Entity” means any Person other than an individual or government (including any agency or political subdivision thereof).

 “Event of Default” has the meaning specified in Section 7.01. 

“Excess Available Funds Sharing Group” means all Excess Available Funds Sharing Series that have the same Excess
Available Funds Sharing Group designation. 
 “Excess Available Funds Sharing Series” means a Series that, pursuant to the
Indenture Supplement therefor, will share certain excess Available Funds with other Series in the same Excess Available Funds Sharing Group, as more specifically set forth in such Indenture Supplement. 

“Excess Available Principal Amounts Sharing Group” means all Excess Available Principal Amount Sharing Series that have the
same Excess Available Principal Amounts Sharing Group designation. 
 “Excess Available Principal Amounts Sharing Series”
means a Series that, pursuant to the Indenture Supplement therefor, will share certain excess Available Principal Amounts with other Series in the same Excess Available Principal Amounts Sharing Group, as more specifically set forth in such
Indenture Supplement. 
 “Excess Funding Account” has the meaning specified in subsection 4.02(a)(ii)(A). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time. 

“Expected Principal Payment Date” means, with respect to any Series, Class or Tranche of Notes, the scheduled due date
of any payment of principal on such Notes, as 

  
 -10- 

 
specified in the related Indenture Supplement, or if such day is not a Business Day, the next following Business Day, unless such day is in the next calendar month, in which case such Expected
Principal Payment Date, unless otherwise specified in the related Indenture Supplement, will be the last Business Day of the related calendar month. 

“FATCA” means Sections 1471 through 1474 of the Internal Revenue Code, as of the date hereof (or any amended or successor
provisions that are substantially similar), any current or future regulations or official interpretations thereunder or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Internal Revenue
Code, any published intergovernmental agreement entered into in connection with the implementation of such sections of the Internal Revenue Code and any fiscal or regulatory legislation, rules or official practices adopted pursuant to such published
intergovernmental agreement. 
 “FDIC” means the Federal Deposit Insurance Corporation or any successor thereto. 

“FDIC Rule” means 12 C.F.R. §360.6, as it may be amended from time to time and subject to such clarifications and
interpretations as may be provided by the FDIC or by the FDIC’s staff from time to time. 
 “FDIC Rule
Interpretations” means clarifications and interpretations to the FDIC Rule as may be provided by the FDIC or by the FDIC’s staff from time to time. 

“FDIC Rule Requirements” means the covenants, obligations and agreements set forth in Schedule I to this Indenture and
incorporated by reference in this Indenture. 
 “Finance Charge Receivable” means any Receivable that is a Periodic Finance
Charge, a Cash Advance Fee, a Late Fee, an Annual Membership Fee, a Draft Fee, a Service Transaction Fee, or a similar fee or charge. Finance Charge Receivables with respect to any Monthly Period shall include the amount of Interchange (if any)
deposited into the Collection Account on any Date of Processing with respect to such Monthly Period and Discount Option Receivables (if any) and other amounts allocable to any Series of Notes pursuant to any Indenture Supplement with respect to such
Monthly Period (to the extent received by the Servicer and deposited into the Collection Account or any Supplemental Account, as the case may be, on the Transfer Date following such Monthly Period). 

“Fitch” means Fitch Ratings, Inc., or any successor thereto. 

“foreign currency” means (a) a currency other than Dollars, or (b) denominated in a currency other than Dollars.

 “Foreign Depository” means the Person specified in the applicable Indenture Supplement, in its capacity as depository
for the accounts of any clearing agencies located outside the United States. 

  
 -11- 

 “Funding” means WF Card Funding, LLC, a Delaware limited liability company,
and its successors and any Entity resulting from or surviving any consolidation or merger to which it or its successors may be a party. 

“Global Note” means any Note issued pursuant to Section 2.04. 

“Governmental Authority” means the United States of America, any state or other political subdivision thereof and any entity
exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

“Group” means any one or more Series of Notes which are specified as belonging to a common Group (including any Excess
Available Funds Sharing Group, an Excess Available Principal Amounts Sharing Group, Reallocation Group or any Group established by an Indenture Supplement) in the applicable Indenture Supplement. A particular Series may be included in more than one
Group if the Indenture Supplement for such Series so provides. 
 “Hague Securities Convention” has the meaning specified
in subsection 4.02(c). 
 “Holder,” when used with respect to (a) any Note, means a Noteholder and (b) the
Transferor Interest, means any Person in whose name a Transferor Certificate is registered in the Register (as defined in the Trust Agreement) or any Person in whose name an interest in any part of the Transferor Interest is registered in the
Register, as contemplated by Section 4.04 of the Trust Agreement. 
 “Indenture” or “this
Indenture” means this Indenture as originally executed and as amended, supplemented, restated or otherwise modified from time to time by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof,
and will include the terms of particular Series, Classes or Tranches of Notes created as contemplated by Section 3.01. 

“Indenture Supplement” means, with respect to any Series of Notes, a supplement to this Indenture, executed and delivered in
conjunction with the issuance of such Notes pursuant to Section 10.01, together with any applicable Terms Document related to such Indenture Supplement and any amendment to the Indenture Supplement executed pursuant to
Section 10.01 or 10.02, and, in either case, including all amendments thereof and supplements thereto. 

“Indenture Trustee” means the Person named as the Indenture Trustee in the first paragraph of this Indenture until a
successor Indenture Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Indenture Trustee” means and includes each Person who is then an Indenture Trustee hereunder. If at any time
there is more than one such Person, “Indenture Trustee” as used with respect to the Notes of any Series, Class or Tranche means the Indenture Trustee with respect to Notes of that Series, Class or Tranche. 

“Ineligible Receivable” has the meaning specified in the Transfer Agreement. 

  
 -12- 

 “Initial Account” means each credit card account that was designated on the
Closing Date as an Account under the Transfer Agreement and that is identified on the Account Schedule as an Account from and after the Closing Date. The Term “Initial Account” shall include any Transferred Account related to any such
Initial Account. 
 “Initial Dollar Principal Amount” means (a) unless otherwise specified in the applicable Indenture
Supplement, with respect to Tranches of Dollar Interest-bearing Notes, the aggregate initial principal amount of the Outstanding Notes of such Tranche, and (b) with respect to Tranches of Discount Notes
and foreign currency Notes, the amount specified in the applicable Indenture Supplement as the Initial Dollar Principal Amount thereof. 

“Insolvency Event” means, with respect to an entity: (a) (x) the commencement of an involuntary action seeking
(i) a decree or order for relief by a court having jurisdiction in the premises in respect of such Person in a case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization, or other similar law, (ii) the
appointment of a custodian, conservator, receiver, liquidator, assignee, trustee, sequestrator, or other similar official of such Person or (iii) the winding up or liquidation of such Person’s affairs, which in each case shall have
remained undischarged or unstayed for a period of 90 consecutive days or (y) the entering of any order or decree providing the relief, remedy or other action described in any of clauses (i) through (iii); or (b) the commencement by
such Person of a voluntary case or proceeding under any applicable federal or state bankruptcy, insolvency, conservatorship, receivership, reorganization, or other similar law or of any other case or proceeding to be adjudicated a bankrupt or
insolvent, or the consent by it to the entry of a decree or order for relief in respect of such Person in an involuntary case or proceeding under any applicable federal or state bankruptcy, insolvency, conservatorship, receivership, reorganization
or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable federal or state law, or the
consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, conservator, receiver, liquidator, assignee, trustee, sequestrator, or similar official of such Person or of any substantial part of its
property, or the making by it of an assignment for the benefit of creditors, or such Person’s failure to pay its debts generally as they become due, or the taking of corporate action by such Person in furtherance of any such action. 

“Insurance Proceeds” means all Insurance Proceeds (as defined in the Receivables Purchase Agreement) that are allocable to
the Receivables transferred by the Transferor to the Issuer. 
 “Interchange” means all Interchange (as defined in the
Receivables Purchase Agreement) that is allocable to the Receivables transferred by the Transferor to the Issuer. 

“Interest-bearing Note” means a Note that bears interest at a stated or
computed rate on the principal amount thereof. A Note may be both an Interest-bearing Note and a Discount Note. 

  
 -13- 

 “Interest Payment Date” means, with respect to any Series, Class or
Tranche of Notes, the scheduled due date of any payment of interest on such Notes, as specified in the applicable Indenture Supplement, or if such day is not a Business Day, the next following Business Day, unless such day is in the next calendar
month, in which case the Interest Payment Date, unless otherwise specified in the related Indenture Supplement, will be the last Business Day of the current calendar month; provided, however, that upon the acceleration of a Series,
Class or Tranche of Notes following an Event of Default or upon the occurrence of an Early Redemption Event, or other optional or mandatory redemption of that Series, Class or Tranche of Notes, each Monthly Principal Accrual Date will be
an Interest Payment Date. 
 “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended from time to time.

 “Investment Company Act” means the Investment Company Act of 1940, as amended. 

“Investment Earnings” means, with respect to each Transfer Date, all amounts of interest and earnings (net of losses and
investment expenses) accrued since the preceding Transfer Date on funds credited to the Collection Account or the Excess Funding Account. 

“Investor Percentage” has, with respect to Principal Receivables, Finance Charge Receivables and Receivables in Defaulted
Accounts, and any Series of Notes, the meaning specified in the related Indenture Supplement. 
 “Investor Servicing Fee”
has the meaning specified in the Servicing Agreement. 
 “Issuer” has the meaning specified in the first paragraph of this
Indenture. 
 “Issuer Authorized Officer” means (a) the Owner Trustee, by an authorized signatory of the Owner
Trustee, or (b) the chairman or vice-chairman of the board of directors, chairman or vice- chairman of the executive committee of the board of directors, the
president, any vice-president, the secretary, any assistant secretary, the treasurer, or any assistant treasurer, in each case of the Beneficiary, or any other officer or employee of the Beneficiary who is
authorized to act on behalf of the Issuer. 
 “Issuer Certificate” means a certificate (including an Officer’s
Certificate) signed in the name of an Issuer Authorized Officer, or the Issuer by an Issuer Authorized Officer and, in each case delivered to the Indenture Trustee, the Paying Agent or the Note Registrar, as applicable, relating to, among other
things, the issuance of a new Series, Class or Tranche of Notes. Wherever this Indenture requires that an Issuer Certificate be signed also by an accountant or other expert, such accountant or other expert (except as otherwise expressly
provided in this Indenture) may be in the employ of the Beneficiary. 
 “Issuer Tax Opinion” means, with respect to any
action, an Opinion of Counsel to the effect that, for federal income tax purposes, (a) such action will not adversely affect the tax characterization as debt of any Outstanding Series, Class or Tranche of Notes that were

  
 -14- 

 
characterized as debt at the time of their issuance, (b) following such action the Issuer will not be treated as an association (or publicly traded partnership) taxable as a corporation,
(c) such action will not cause or constitute an event in which gain or loss would be recognized by any Holder of any such Notes, and (d) except as provided in the related Indenture Supplement, where such action is the issuance of a Series,
Class or Tranche of Notes, following such action such Series, Class or Tranche of Notes will be properly characterized as debt. 

“KBRA” means Kroll Bond Rating Agency, LLC, or any successor thereto. 

“Late Fee” means a late fee or similar fee that is charged to an Account under the related Credit Card Agreement. 

“Legal Maturity Date” means, with respect to a Series, Class or Tranche of Notes, the date specified in the Indenture
Supplement, for such Note as the fixed date on which the principal of such Series, Class or Tranche of Notes is due and payable. 

“Lien” means any security interest, lien, mortgage, deed of trust, pledge, hypothecation, encumbrance, assignment,
participation interest, equity interest, deposit arrangement, preference, priority, or other security or preferential arrangement of any kind or nature. This term includes any conditional sale or other title retention arrangement and any financing
lease having substantially the same economic effect as any security or preferential arrangement. 
 “Majority Holders”
means, with respect to any Series, Class or Tranche of Notes or all Outstanding Notes, the Holders of a majority in Outstanding Dollar Principal Amount of the Outstanding Notes of that Series, Class or Tranche or of all Outstanding Notes,
as the case may be. 
 “Minimum Transferor Interest” means, for any period, [_]% (or such other percentage as specified in
the related Indenture Supplement) of the Average Principal Receivables for such period; provided, however, that the Issuer may reduce the Minimum Transferor Interest upon (w) delivery to the Indenture Trustee of an Issuer Tax
Opinion with respect to such reduction, (x) thirty (30) days’ prior notice to the Indenture Trustee and each Note Rating Agency, (y) satisfaction of the Rating Agency Condition and (z) delivery to the Indenture Trustee of an
Officer’s Certificate stating that the Issuer reasonably believes that such reduction will not, based on the facts known to such officer at the time of such certification, then or thereafter cause an Early Redemption Event to occur with respect
to any Series; provided further that the Minimum Transferor Interest shall not at any time be less than 2% of the Average Principal Receivables for such period. 

“Monthly Interest Accrual Date” means, with respect to any Outstanding Series, Class or Tranche of Notes: 

(a)    each Interest Payment Date for such Series, Class or Tranche, and 

  
 -15- 

 (b)    for any Monthly Period in which no Interest Payment Date for such
Series, Class or Tranche occurs, the date in such Monthly Period corresponding numerically to the next Interest Payment Date for such Series, Class or Tranche of Notes, or in the case of a Series, Class or Tranche of Discount Notes,
the Expected Principal Payment Date for that Series, Class or Tranche, or as otherwise specified in the applicable Indenture Supplement for such Series, Class or Tranche of Notes; provided, however, that 

(i)    for the Monthly Period in which a Series, Class or Tranche of Notes is issued, the date of
issuance of such Series, Class or Tranche will be the first Monthly Interest Accrual Date for such Monthly Period for such Series, Class or Tranche of Notes, 

(ii)    for the Monthly Period next following the Monthly Period in which a Series, Class or Tranche
of Notes is issued, unless otherwise indicated in the related Indenture Supplement, the first day of such Monthly Period will be the first Monthly Interest Accrual Date in such next following Monthly Period for such Series, Class or Tranche of
Notes, 
 (iii)    any date on which (A) proceeds from a sale of Receivables following an Event of
Default and acceleration of any Tranche of Notes or (B) proceeds of the Reassignment Amount from the reassignment of Receivables to the Transferor pursuant to subsection 2.04(e) of the Transfer Agreement, as applicable, are deposited
into the interest funding sub-account for such Notes will be a Monthly Interest Accrual Date for such Tranche of Notes, 

(iv)    if there is no such numerically corresponding date in such Monthly Period, then the Monthly
Interest Accrual Date will be the last Business Day of such Monthly Period, and 
 (v)    if such
numerically corresponding date in such Monthly Period is not a Business Day, then the Monthly Interest Accrual Date will be the next following Business Day (unless such Business Day would fall in the following Monthly Period in which case the
Monthly Interest Accrual Date will be the last Business Day of such earlier month). 
 “Monthly Noteholders’
Statement” means, with respect to any Series of Notes, a report, the form of which is set forth as an exhibit to the related Indenture Supplement. 

“Monthly Period” means, unless otherwise defined in any Indenture Supplement, the period from and including the first day of
a calendar month to and including the last day of a calendar month. 
 “Monthly Principal Accrual Date” means, with respect
to any Outstanding Series, Class or Tranche of Notes: 

  
 -16- 

 (a)    for any Monthly Period in which an Expected Principal Payment
Date for such Series, Class or Tranche occurs, such Expected Principal Payment Date, or as otherwise specified in the applicable Indenture Supplement for such Tranche of Notes, and 

(b)    for any Monthly Period in which no Expected Principal Payment Date for such Series, Class or Tranche occurs,
the date in such Monthly Period corresponding numerically to the next Expected Principal Payment Date for such Tranche of Notes (or for any month following the last Expected Principal Payment Date, the date in such month corresponding numerically to
the preceding Expected Principal Payment Date for such Tranche of Notes), or as otherwise specified in the applicable Indenture Supplement, for such Tranche of Notes; provided, however, that: 

(i)    following an Early Redemption Event as described in Section 12.01(d), the
second Business Day following such Early Redemption Event shall be a Monthly Principal Accrual Date, 

(ii)    any date on which prefunded excess amounts are released from any Principal Funding sub-Account and deposited into the Principal Funding sub-Account of any Tranche of Notes on or after the Expected Principal Payment Date for such Tranche of Notes will be a
Monthly Principal Accrual Date for such Tranche of Notes, 
 (iii)    any date on which (A) proceeds
from a sale of Receivables following an Event of Default and acceleration of any Tranche of Notes or (B) proceeds of the Reassignment Amount from the reassignment of Receivables to the Transferor pursuant to subsection 2.04(e) of the
Transfer Agreement, as applicable, are deposited into the Principal Funding sub-Account for such Notes will be a Monthly Principal Accrual Date for such Tranche of Notes, 

(iv)    if there is no numerically corresponding date in such Monthly Period, then the Monthly Principal
Accrual Date will be the last Business Day of such Monthly Period, and 
 (v)    if such numerically
corresponding date in such Monthly Period is not a Business Day, the Monthly Principal Accrual Date will be the next following Business Day (unless such Business Day would fall in the following month in which case the Monthly Principal Accrual Date
will be the last Business Day of such earlier Monthly Period). 
 “Moody’s” means Moody’s Investors Service,
Inc., or any successor thereto. 
 “Nominal Liquidation Amount” means, with respect to any Outstanding Tranche of Notes, an
amount determined in accordance with the applicable Indenture Supplement. The Nominal Liquidation Amount for a Series of Notes will be the sum of the Nominal Liquidation Amounts of all of the Tranches of Notes of that Series. 

  
 -17- 

 “non-Performing,” with
respect to a Derivative Agreement, means not Performing. 
 “Note” or “Notes” means any note or notes of
any Series, Class or Tranche authenticated and delivered from time to time under this Indenture. 
 “Note Accumulation
Period” means, with respect to any Series, Class or Tranche of Notes, the period commencing on the first day of the Monthly Period for which there is a Targeted Principal Deposit Amount with respect to such Series, Class or
Tranche of Notes and ending on the last day of the Monthly Period preceding the next following Monthly Period for which there is no Targeted Principal Deposit Amount with respect to such Series, Class or Tranche of Notes; provided,
however, that, with respect to any Tranche of Notes which has been accelerated following an Event of Default, has had an early redemption event or will be partially redeemed during a partial or limited amortization, the related Note
Accumulation Period will commence on the effective date of such acceleration, early redemption event or partial or limited amortization period. 

“Note Owner” means the beneficial owner of an interest in a Global Note. 

“Note Rating Agency” means, with respect to any Outstanding Series, Class or Tranche of Notes, each statistical credit
rating agency selected by the Issuer to rate such Notes. 
 “Note Register” has the meaning specified in
Section 3.05. 
 “Note Registrar” means the Person who keeps the Note Register specified in
Section 3.05. 
 “Noteholder” means a Person in whose name a Note is registered in the Note
Register. 
 “Noteholders’ Statement” has the meaning specified in the applicable Indenture Supplement. 

“Obligor” means, for any credit card account, any Person obligated to make payments on receivables in that account. This term
includes any guarantor but excludes any merchant. 
 “Officer’s Certificate” means (a) with respect to the
Issuer, a certificate signed by the Beneficiary or the Owner Trustee and delivered to the Indenture Trustee, the Paying Agent or the Note Registrar, as applicable, and (b) with respect to any other Person, a certificate signed by any Vice
President or more senior officer of such Person and delivered to the applicable recipient. Wherever this Indenture requires that an Officer’s Certificate be signed also by an accountant or other expert, such accountant or other expert (except
as otherwise expressly provided in this Indenture) may be in the employ of the Beneficiary. 

  
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 “Opinion of Counsel” means a written opinion of counsel acceptable to the
Indenture Trustee, the Paying Agent or the Note Registrar, as applicable, who may, without limitation, and except as otherwise expressly provided in this Indenture, be an employee of or counsel to the Issuer, the Beneficiary or any of their
Affiliates. 
 “Outstanding,” when used with respect to a Note or with respect to Notes of any Series, Class or
Tranche means, as of the date of determination, all such Notes theretofore authenticated and delivered under this Indenture, except: 

(a)    any Notes theretofore canceled by the Note Registrar or delivered to the Note Registrar for cancellation, or
canceled by the Issuer pursuant to Section 3.09; 
 (b)    any Notes for whose full payment
(including principal and interest) or redemption money in the necessary amount has been theretofore deposited with the Indenture Trustee or the Paying Agent in trust for the Holders of such Notes; provided that, if such Notes are to be
redeemed, notice of such redemption has been duly given if required pursuant to this Indenture, the related Indenture Supplement, or provision therefor satisfactory to the Indenture Trustee has been made; 

(c)    any Notes which are deemed to have been paid in full pursuant to Section 5.05; 

(d)    any Notes which are canceled pursuant to Section 6.03; and 

(e)    any such Notes in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to
this Indenture, or which will have been paid pursuant to the terms of Section 3.06 (except with respect to any such Note as to which proof satisfactory to the Note Registrar is presented that such Note is held by a person
in whose hands such Note is a legal, valid and binding obligation of the Issuer). 
 For purposes of determining the amounts of deposits, allocations,
reallocations or payments to be made, unless the context clearly requires otherwise, references to “Notes” will be deemed to be references to “Outstanding Notes.” In determining whether the Holders of the requisite principal
amount of such Outstanding Notes have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Notes beneficially owned by the Issuer or the Transferor, or any Affiliate of the Issuer or the Transferor, and in
addition, in the case of such determination pursuant to subsection 14.06(a) or 14.06(b), Notes beneficially owned by the Servicer, WFBNA, or the Asset Representations Reviewer, or any Affiliate of the Servicer, WFBNA, or the Asset
Representations Reviewer, will be disregarded and deemed not to be Outstanding. In determining whether the Indenture Trustee, the Paying Agent or the Note Registrar, as applicable, will be protected in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Notes which a Responsible Officer of the Indenture Trustee the Paying Agent or the Note Registrar actually knows to be owned by the Issuer or the Transferor or any Affiliate of the Issuer or
the Transferor will be so disregarded. Notes so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee creates to the satisfaction of the Indenture Trustee, the Paying Agent or the Note Registrar, as applicable,
the 

  
 -19- 

 
pledgee’s right to act as owner with respect to such Notes and that the pledgee is not the Issuer, the Transferor, or any other obligor upon the Notes, or any Affiliate of the Issuer, the
Transferor, or such other obligor, and in addition, in the case of subsection 14.06(a) or 14.06(b), the pledgee is not the Servicer, WFBNA, or the Asset Representations Reviewer, or any Affiliate of the Servicer, WFBNA, or the Asset
Representations Reviewer. 
 “Outstanding Dollar Principal Amount” means at any time, 

(a)    with respect to any Series, Class or Tranche other than-Discount
Notes, the aggregate Initial Dollar Principal Amount of the Outstanding Notes of such Series, Class or Tranche at such time, less the amount of any withdrawals from the Principal Funding sub-Account for
such Tranche of Notes for payment of principal to the Holders of such Tranche or the applicable Derivative Counterparty pursuant to the related Indenture Supplement, and 

(b)    with respect to any Series, Class or Tranche of Discount Notes, an amount of the Outstanding Notes of such
Series, Class or Tranche calculated by reference to the applicable formula set forth in the applicable Indenture Supplement, taking into account the amount and timing of payments of principal made to the Holders of such Series, Class or
Tranche or to the applicable Derivative Counterparty and accretions of principal, each pursuant to the related Indenture Supplement. 

“Owner Trustee” has the meaning specified in the Trust Agreement. 

“Paying Agent” means any Person authorized by the Issuer to pay the principal of or interest on any Notes on behalf of the
Issuer, which shall initially be Wells Fargo Bank, National Association. 
 “Payment Date” means, with respect to any
Series, Class or Tranche of Notes, the applicable Principal Payment Date or Interest Payment Date. 
 “Performing”
means, with respect to any Derivative Agreement, no payment default or repudiation of performance by a Derivative Counterparty has occurred, and such Derivative Agreement has not been terminated. 

“Periodic Finance Charge” means a finance charge determined by periodic rate or similar charge that is charged to an Account
under the related Credit Card Agreement. 
 “Permanent Global Note” has the meaning specified in
subsection 2.05(a). 
 “Permitted Investments” means, unless otherwise provided in the Indenture
Supplement with respect to any Series of Notes: 
 (a)    instruments, investment property or other property consisting
of: 
 (i)    United States Treasury obligations (all direct or fully guaranteed obligations); 

  
 -20- 

 (ii)    time deposits or certificates of deposit of any
depository institution or trust company incorporated under the laws of the United States of America or any state thereof (or domestic branches of Foreign Depository institutions or trust companies) and subject to supervision and examination by
federal or state banking or depository institution authorities; provided, however, that at the time of the investment or contractual commitment to invest therein, the certificates of deposit or
short-term deposits of such depository institution or trust company shall have a credit rating from Moody’s, Fitch and SP Global Ratings of P-1, F1+ and A-1+, respectively; 
 (iii)    commercial paper (including but not
limited to asset-backed commercial paper) having, at the time of the investment or contractual commitment to invest therein, a rating from Moody’s, Fitch and SP Global Ratings of P-1, F1+ and A-1+, respectively; 
 (iv)    bankers’ acceptances issued by any
depository institution or trust company described in clause (a)(ii) above; and 
 (v)    investments in
money market funds rated AAA-m by SP Global Ratings, Aaa-mf by Moody’s and AAA or V1+ by Fitch or otherwise approved in writing by each Note Rating Agency; 

(b)    demand deposits in the name of the Paying Agent on behalf of the Indenture Trustee for the benefit of the
Noteholders in any depository institution or trust company referred to in clause (a)(ii) above; and 
 (c)    any other
investment if the Rating Agency Condition is satisfied. 
 The term “Permitted Investments” does not include any investment in WFBNA or any
obligation or liability of WFBNA. 
 “Person” means any person or entity of any nature. This term includes any individual,
corporation, limited liability company, partnership, limited partnership, limited liability partnership, joint venture, association, joint-stock company, trust, unincorporated organization, or Governmental
Authority. 
 “PFA Prefunding Earnings Shortfall” has, for any Series, Class or Tranche of Notes, the meaning
specified in the related Indenture Supplement. 
 “Predecessor Notes” of any particular Note means every previous Note
evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 3.06 in lieu of a mutilated, lost,
destroyed or stolen Note will be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 
 “Principal
Allocation Amount” means, on any date of determination during any Monthly Period for any Tranche, Class or Series of Notes (exclusive of (x) any Notes within such Tranche, Class or Series which will be paid in full during
such Monthly Period and (y) any 

  
 -21- 

 
notes which will have a Nominal Liquidation Amount of zero during such Monthly Period), an amount equal to the sum of (a) for any Notes within such Tranche, Class or Series of Notes in
a Note Accumulation Period, the sum of the Nominal Liquidation Amounts for such Notes as of the close of business on the day prior to the commencement of the most recent Note Accumulation Period for such Notes, and (b) for all other
Notes Outstanding within such Tranche, Class or Series of Notes, (i) the sum of the Nominal Liquidation Amounts for such Notes, each as of the close of business on the last day of the immediately preceding Monthly Period (or, with respect
to the first Monthly Period for any such Series, Class or Tranche of Notes, the Initial Dollar Principal Amount of such Notes), plus (ii) the aggregate amount of any increases in the Nominal Liquidation Amount of such Notes as a
result of (x) the issuance of additional Notes in an Outstanding Series, Class or Tranche of Notes, (y) the accretion of principal on Discount Notes of such Tranche, Class or Series, as applicable, or (z) the release of
prefunded amounts (other than prefunded amounts deposited during such Monthly Period) for such Tranche, Class or Series, as applicable, from a Principal Funding sub-Account, in each case during such
Monthly Period on or prior to such date. 
 “Principal Funding Account” has, for any Series, Class or Tranche of
Notes, the meaning specified in the related Indenture Supplement. 
 “Principal Funding
sub-Account” has, for any Series, Class or Tranche of Notes, the meaning specified in the related Indenture Supplement. 

“Principal Payment Date” means, with respect to any Series, Class or Tranche of Notes, each Expected Principal Payment
Date, or upon the acceleration of such Series, Class or Tranche of Notes following an Event of Default or upon the occurrence of an Early Redemption Event, or other optional or mandatory redemption of such Series, Class or Tranche of
Notes, each Monthly Principal Accrual Date. 
 “Principal Receivable” means any Receivable other than (i) a Finance
Charge Receivable or (ii) a Receivable in a Defaulted Account. In calculating the aggregate amount of Principal Receivables in an Account on any date, the gross amount of Principal Receivables in the Account on that date must be reduced by the
aggregate amount of credit balances in the Account on that date. Any Receivables which the Transferor is unable to transfer as provided in the Transfer Agreement shall not be included in calculating the aggregate amount of Principal Receivables,
except as otherwise provided in such subsection. 
 “Qualified Institution” means (a) a depository institution, which
may include the Indenture Trustee, the Paying Agent or the Owner Trustee, organized under the laws of the United States of America or any one of the States thereof or the District of Columbia, the deposits in which are insured by the FDIC and which
at all times has a long term senior, unsecured debt rating of “A2” or better by Moody’s, or a certificate of deposit rating of “P-1” or better by Moody’s, if rated by
Moody’s, a long term senior, unsecured debt rating of “A” or better by SP Global Ratings, or a certificate of deposit rating of “A-1” or better by SP Global Ratings, if rated by SP
Global Ratings, a long term senior, unsecured debt rating of “A” or better by Fitch, or a certificate of deposit rating of “F1” or better by Fitch, if rated by Fitch and “BBB” or better by KBRA, if rated by KBRA (or, if
not rated by Moody’s, SP Global Ratings, Fitch or 

  
 -22- 

 
KBRA, a comparable rating by another statistical rating agency) or (b) a depository institution acceptable to each Note Rating Agency. 

“Qualified Trust Account” means either (a) a segregated non-interest bearing
account (including a securities account) with a Qualified Institution or (b) a segregated non-interest bearing trust account with the corporate trust department of a depository institution organized under
the laws of the United States of America or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any
of the securities of such depository institution shall have a credit rating (in the case of SP Global Ratings, an issuer credit rating or resolution counterparty rating) from each Note Rating Agency that satisfies the publicly published, controlling
and applicable ratings criteria established by each Note Rating Agency; provided that in either case described in the preceding clause (a) or (b), the Indenture Trustee has “control” (as defined in §§ 9-104 or 9-106 of the UCC, as applicable) pursuant to Section 4.02(c) or a control agreement including provisions substantially similar to such section or as otherwise
agreed to by the Indenture Trustee. 
 “Rating Agency Condition” means, unless otherwise specified in the related Indenture
Supplement for any Series or Class of Notes, with respect to any action subject to such condition, (i) that each Note Rating Agency shall have notified the Issuer, the Transferor or the Servicer in writing that the proposed action will not
result in a reduction or withdrawal of its ratings on any outstanding notes of any Series, Class or Tranche of Notes or (ii) if at such time any Note Rating Agency has informed the Issuer, the Transferor or the Servicer that such Note
Rating Agency does not provide such written notifications for transactions of this type, then as to such Note Rating Agency the Issuer shall deliver written notice of the proposed action to such Note Rating Agency at least ten (10) Business
Days’ prior to the effective date of such action (or such shorter period as specified in the relevant Transaction Document provision). 

“Ratings Effect” means a reduction, qualification or withdrawal of any then current rating of the Notes. 

“Reallocation Group” means all Reallocation Series that have the same Reallocation Group designation. 

“Reallocation Series” means a Series that, pursuant to the Indenture Supplement therefor, will share certain Available Funds,
Available Principal Amounts or other specified amounts within a specified Reallocation Group with other Series in the same Reallocation Group, as more specifically set forth in such Indenture Supplement. 

“Reassignment Amount” means, with respect to any Transfer Date, the sum of (a) the Adjusted Outstanding Dollar Principal
Amount of all Notes Outstanding on such Transfer Date, (b) the aggregate Targeted Interest Deposit Amounts for all Series of Notes for such Transfer Date and (c) the aggregate due and unpaid Investor Servicing Fee owed to the Servicer, or
any other fees, expenses, and indemnities of the Indenture Trustee, the Paying Agent or the Note Registrar payable by the Issuer, each after giving effect to any deposits and distributions otherwise to be made on such Transfer Date. 

  
 -23- 

 “Reassignment Date” has the meaning specified in the Transfer Agreement.

 “Receivable” means any amount payable on an Account by the related Obligors. This term includes Principal Receivables
and Finance Charge Receivables. 
 “Receivables Purchase Agreement” means the Receivables Purchase Agreement, dated as of
[________ __, ____], between WFBNA and Funding, as the same may be amended, supplemented or otherwise modified from time to time. 

“Record Date” for the interest or principal payable on any Note on any applicable Payment Date means the last day of the
month before the related Interest Payment Date or Principal Payment Date, as applicable, unless otherwise specified in the applicable Indenture Supplement. 

“Recoveries” means all Recoveries (as defined in the Receivables Purchase Agreement) that are allocable to the Receivables
transferred by the Transferor to the Issuer pursuant to the Transfer Agreement. 
 “Registered Note” means a Note issued in
registered form. 
 “Registered Noteholder” means a holder of a Registered Note. 

“Regulation AB” means Subpart 229.1100 – Asset-Backed Securities (Regulation AB), 17
C.F.R. §§229.1100-229.1125, as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Commission in the adopting releases
(including Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (January 7, 2005) and
Asset-Backed Securities Disclosure and Registration, Securities Act Release No. 33-9638, 79 Fed. Reg. 57,184 (September 24, 2014)) or by the staff of
the Commission, or as may be provided by the Commission or its staff from time to time. 
 “Removal Date” has the meaning
specified in the Transfer Agreement. 
 “Removed Accounts” has the meaning specified in the Transfer Agreement. 

“Required Subordinated Amount” means, with respect to any Tranche of a Senior Class of Notes, the amount specified in
the related Indenture Supplement. 
 “Requirements of Law” for any Person means (a) any certificate of incorporation,
certificate of formation, articles of association, bylaws, limited liability company agreement, or other organizational or governing documents of that Person and (b) any law, treaty, statute, regulation, or rule, or any determination by a
Governmental Authority or arbitrator, that is applicable to or binding on that Person or to which that Person is subject. This term includes usury laws, the Truth in Lending Act, and Regulation Z and Regulation B of the Board of Governors of the
Federal Reserve System. 

  
 -24- 

 “Responsible Officer” means, when used (x) with respect to the
Indenture Trustee, any vice president, any assistant vice president, the treasurer, any assistant treasurer, any senior trust officer, or trust officer, or any other officer of the Indenture Trustee customarily performing functions similar to those
performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject and
(y) with respect to the Paying Agent and the Note Registrar, any vice president, any assistant vice president, any assistant secretary, assistant treasurer or any other officer in the Corporate Trust Office customarily performing functions
similar to those performed by any of the above designated officers, in each case having direct responsibility for the administration of this Indenture, the Indenture Supplement or the Terms Document and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 

“Sarbanes Certification” has the meaning specified in subsection 14.04(d). 

“Securities Act” means the Securities Act of 1933, as amended from time to time. 

“Securitization Transaction” means any issuance of new Notes of any Series, Class or Tranche, pursuant to
Section 3.10, whether publicly offered or privately placed, rated or unrated. 
 “Security
Interest” means the security interest granted pursuant to the Granting Clause. 
 “Segregated Transferor Interest”
means a Dollar amount of the Transferor Interest equal to the aggregate prefunded amounts on deposit in the Principal Funding sub-Accounts for each Series of Notes, as notified to the Servicer pursuant to
Section 5.03. 
 “Senior Class,” with respect to a Class of Notes of any Series, has the
meaning specified in the related Indenture Supplement. 
 “Series” means, with respect to any Note, the Series specified in
the applicable Indenture Supplement. 
 “Series Available Funds Shortfall” with respect to any Excess Available Funds
Sharing Series, has the meaning specified in the related Indenture Supplement. 
 “Series Available Principal Amount
Shortfall” with respect to any Excess Available Principal Amount Sharing Series, has the meaning specified in the related Indenture Supplement. 

“Series Early Redemption Event” has the meaning, with respect to each Series, specified pursuant to the Indenture Supplement
for the related Series. 

  
 -25- 

 “Service Transaction Fee” means a service transaction fee or similar fee
that is charged to an Account under the related Credit Card Agreement. 
 “Servicer” means initially WFBNA and thereafter
any Person appointed as successor as provided in the Servicing Agreement to service the Receivables. 
 “Servicer Default”
has the meaning specified in the Servicing Agreement. 
 “Servicing Agreement” means the Servicing Agreement, dated as of
[________ __, ____], between the Servicer, and the Issuer, as amended, restated, supplemented or otherwise modified from time to time. 

“Servicing Criteria” means the “servicing criteria” set forth in Item 1122(d) of Regulation AB, as such may be
amended from time to time. 
 “Servicing Fee” has the definition specified in the Servicing Agreement. 

“SP Global Ratings” means SP Global Ratings Services or any successor thereto. 

“Stated Principal Amount,” with respect to any Note, has the meaning specified in the related Indenture Supplement. 

“sub-Account” means each portion of a Trust Account designated as such
pursuant to this Indenture or the related Indenture Supplement. 
 “Subordinated Class,” with respect to a Class of
Notes of any Series, has the meaning specified in the related Indenture Supplement. 
 “Subordinated Notes” means Notes of
a Subordinated Class of a Series. 
 “Successor Servicer” has the meaning specified in the Servicing Agreement. 

“Supplemental Account” means any Qualified Trust Account opened pursuant to an Indenture Supplement or Terms Document. 

“Targeted Interest Deposit Amount,” for each Series, Class or Tranche of Notes, is defined in the related Indenture
Supplement. 
 “Targeted Principal Deposit Amount,” for each Series, Class or Tranche of Notes, is defined in the
related Indenture Supplement. 
 “Tax Information” has the meaning specified in
subsection 16.04(b). 
 “Temporary Global Note” has the meaning specified in
subsection 2.05(a). 

  
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 “Terms Document” means, with respect to any Series, Class or Tranche
of Notes, the Issuer Certificate or a supplement or terms document to the related Indenture Supplement that establishes such Series, Class or Tranche. 

“Tranche” means, with respect to any Class of Notes, Notes of such Class which have identical terms, conditions and
Tranche designation. Notes of a single Tranche may be issued on different dates. 
 “Transaction Documents” means, with
respect to any Series, Class or Tranche of Notes, collectively, the Receivables Purchase Agreement, the Transfer Agreement, the Servicing Agreement, this Indenture, any applicable Indenture Supplement any applicable Terms Document, and the
Trust Agreement. 
 “Transfer Agreement” means the Transfer Agreement, dated as of [________ __, ____], between the
Transferor and the Issuer, as amended, restated, supplemented or otherwise modified from time to time. 
 “Transfer Date”
means, unless otherwise specified in the related Indenture Supplement, with respect to any Series, Class or Tranche of Notes, the Business Day immediately prior to each Distribution Date. 

“Transferor” has the meaning specified in the Transfer Agreement. 

“Transferor Certificate” has the meaning specified in the Trust Agreement. 

“Transferor Interest” means, on any date of determination, the aggregate amount of (a) the Principal Receivables
plus (b) the principal amount on deposit in any Principal Funding sub-Account (as defined in any Indenture Supplement) plus (c) any Available Principal Amounts on deposit in the
Collection Account plus (d) the amount on deposit in the Excess Funding Account, each at the end of the day immediately prior to such date of determination, minus (e) the Aggregate Nominal Liquidation Amount at the end of
such day. 
 “Transferor Percentage” means, on any date of determination, when used with respect to Principal Receivables,
Finance Charge Receivables and Receivables in Defaulted Accounts, a percentage equal to 100% minus the Aggregate Investor Percentage with respect to such categories of Receivables. 

“Transferred Account” means any VISA®, Mastercard®, American Express® or other major card payment network credit card account*
(a) into which all of the Receivables in an Account are transferred because the related credit card was lost or stolen or the related credit card program was changed, if the Credit Card Guidelines do not require a new application or credit
evaluation, and (b) that can be traced or identified by reference to the Account Schedule and the computer or other records of the Servicer. 
  

 

	* 	 VISA, Mastercard, and America Express are registered trademarks of Visa International Service Association,
MasterCard International Incorporated, and American Express Company, respectively. 

  
 -27- 

 “Transferred Assets” has the meaning specified in the Transfer Agreement.

 “Trust Accounts” means the Collection Account, the Excess Funding Account, and each Supplemental Account, in each case
including any sub-Accounts therein. 
 “Trust Agreement” means the Amended and
Restated Trust Agreement of the Issuer, dated as of [________ __, ____], between Funding, as Beneficiary and Transferor, and Wilmington Trust, National Association, as Owner Trustee, as amended, supplemented, restated or supplemented from time to
time. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended by the Trust Indenture Reform Act of 1990,
as in force at the date as of which this Indenture was executed except as provided in Section 10.05. 

“UCC” means, unless the context otherwise requires, the Uniform Commercial Code of the relevant jurisdiction. 

“U.S. Depository” means, unless otherwise specified by the Issuer pursuant to any of Sections 2.04,
2.06, or 3.01, with respect to Notes of any Tranche issuable or issued as Global Note within the United States, The Depository Trust Company, New York, New York, or any successor thereto registered as a clearing agency under
the Exchange Act, or other applicable statute regulation. 
 “Weighted Average Available Funds Allocation Amount” means,
with respect to any period for any Tranche, Class or Series of Notes, the sum of the Available Funds Allocation Amounts for such Tranche, Class or Series, as applicable, as of the close of business on each day during such period divided by
the actual number of days in such period. 
 “WFBNA” means Wells Fargo Bank, National Association a national banking
association, and its successors and any entity resulting from or surviving any consolidation or merger to which it or its successors may be a party, which, for purposes of this Indenture, the Indenture Supplement, the Terms Document and any other
Transaction Document, shall be deemed to exclude Wells Fargo Bank, National Association in its capacities as Paying Agent and as Note Registrar hereunder and thereunder. 

Section 1.02.    Compliance Certificates and Opinions. Upon any application or request
by the Issuer to the Indenture Trustee, the Paying Agent or the Note Registrar to take any action under any provision of this Indenture, the Issuer will furnish to the Indenture Trustee, the Paying Agent or the Note Registrar, as applicable,
(i) an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and (ii) an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to
such particular application or request, no additional certificate or opinion need be furnished. 

  
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 Notwithstanding the provisions of Section 3.10 and of the
preceding paragraph, if all Notes of a Tranche are not to be originally issued at one time, it will not be necessary to deliver the Issuer Certificate otherwise required pursuant to Section 3.10 or the Officer’s
Certificate and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or before the time of authentication of each Note of such Tranche if such documents are delivered at or prior to the authentication upon original issuance
of the first Note of such Tranche to be issued. 
 Each of the Indenture Trustee, the Paying Agent and the Note Registrar may rely, as to
authorization by the Issuer of any Tranche of Notes, the form and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and the other documents delivered pursuant to
Section 3.10 and this Section 1.02, as applicable, in connection with the first authentication of Notes of such Tranche. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except for the written
statement required by Section 11.04) will include: 
 (a)    a statement that each individual
signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 

(b)    a brief statement as to the nature and scope of the examination or investigation upon which the statements or
opinions contained in such certificate or opinion are based; 
 (c)    a statement that such individual has made such
examination or investigation as is necessary to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d)    a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied
with. 
 Section 1.03.    Form of Documents Delivered to Indenture Trustee, the Paying
Agent or the Note Registrar. In any case where several matters are required to be certified by, or covered by an opinion of, one or more specified Persons, one such Person may certify or give an opinion with respect to some matters and one or
more other such Persons as to the other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of the Issuer may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless the Issuer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations are erroneous. Any such certificate or opinion of, or representation by, counsel may be
based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, the Issuer stating that the information with respect to such factual matters is 

  
 -29- 

 
in the possession of the Issuer, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations are erroneous. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 1.04. Acts of Noteholders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action (collectively, “action”) provided
by this Indenture to be given or taken by Noteholders of any Series, Class or Tranche may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Noteholders in person or by an agent duly appointed
in writing; and, except as herein otherwise expressly provided, such action will become effective when such instrument or instruments are delivered to the Indenture Trustee, the Paying Agent or the Note Registrar, as applicable, and, where it is
hereby expressly required, to the Issuer. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Noteholders signing such instrument or
instruments. Proof of execution of any such instrument or of a writing appointing any such agent will be sufficient for any purpose of this Indenture and (subject to Section 8.01) conclusive in favor of the Indenture
Trustee, the Paying Agent, the Note Registrar and the Issuer, as applicable, if made in the manner provided in this Section 1.04. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness to such
execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such
execution is by an officer of a corporation or a member of a partnership, on behalf of such corporation or partnership, such certificate or affidavit will also constitute sufficient proof of his authority. The fact and date of the execution of any
such instrument or writing, or the authority of the person executing the same, may also be proved in any other manner which the Indenture Trustee, the Paying Agent or the Note Registrar, as applicable, deems sufficient. 

(c) The ownership of Registered Notes will be proved by the Note Register. 

(d) If the Issuer will solicit from the Noteholders any action, the Issuer may, at its option, by an Officer’s Certificate, fix in
advance a Record Date for the determination of Noteholders entitled to give such action, but the Issuer will have no obligation to do so. If the Issuer does not so fix a Record Date, such Record Date will be the later of thirty (30) days before
the first solicitation of such action or the date of the most recent list of Noteholders furnished to the Indenture Trustee pursuant to Section 9.01 before such solicitation. Such action may be given before or after the
Record Date, but only the Noteholders of record at the close of business on the Record Date will be deemed to be Noteholders for the purposes of determining whether Holders of the requisite proportion of Notes Outstanding have authorized or agreed
or consented to such action, and for that purpose the Notes Outstanding will be computed as of the Record 

  
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Date; provided that no such authorization, agreement or consent by the Noteholders on the Record Date will be deemed effective unless it will become effective pursuant to the provisions of
this Indenture not later than six months after the Record Date. 
 (e) Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Note will bind the Holder of every Note issued upon the transfer thereof or in exchange therefor or in lieu thereof, in respect of anything done or suffered to be done by the Indenture Trustee, the Paying
Agent, the Note Registrar or the Issuer in reliance thereon whether or not notation of such action is made upon such Note. 

Section 1.05. Notices, etc., to Indenture Trustee and Issuer. Any action of Noteholders or other document
provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
 (a) the Indenture Trustee, the Paying
Agent or the Note Registrar by any Noteholder or by any party hereto will be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Indenture Trustee, the Paying Agent and the Note Registrar at its
respective Corporate Trust Office, or 
 (b) the Issuer by any party hereto or by any Noteholder will be sufficient for every purpose
hereunder (except as provided in subsection 7.01(c)) if in writing and mailed, first-class postage prepaid, to the Issuer addressed to it at the address of its principal office specified in the first paragraph of this
Indenture or at any other address previously furnished in writing to the Indenture Trustee, the Paying Agent and the Note Registrar by the Issuer. 

Section 1.06. Notices to Noteholders; Waiver. 

(a) Where this Indenture, any Indenture Supplement or any Registered Note provides for notice to Registered Noteholders of any event, such
notice will be sufficiently given (unless otherwise herein, in such Indenture Supplement or in such Registered Note expressly provided) if in writing and mailed, first-class postage prepaid, sent by facsimile,
sent by electronic transmission or personally delivered to each Holder of Registered Note affected by such event, at such Noteholder’s address as it appears in the Note Register, not later than the latest date, and not earlier than the earliest
date, prescribed for the giving of such notice. In any case where notice to Registered Noteholders is given by mail, facsimile, electronic transmission or delivery neither the failure to mail, send by facsimile, electronic transmission or deliver
such notice, nor any defect in any notice so mailed, to any particular Noteholders will affect the sufficiency of such notice with respect to other Noteholders and any notice that is mailed, sent by facsimile, electronic transmission or delivered in
the manner herein provided shall conclusively have been presumed to have been duly given. 
 Where this Indenture, any Indenture Supplement
or any Registered Note provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver will be the equivalent of such notice. Waivers of notice
by Registered Noteholders will be filed with the Indenture Trustee, but 

  
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such filing will not be a condition precedent to the validity of any action taken in reliance upon such waiver. 

(b) In case, by reason of the suspension of regular mail service as a result of a strike, work stoppage or otherwise, it will be impractical
to mail notice of any event to any Holder of a Registered Note when such notice is required to be given pursuant to any provision of this Indenture, then any method of notification as will be satisfactory to the Indenture Trustee, the Note Registrar
and the Issuer will be deemed to be a sufficient giving of such notice. 
 (c) With respect to any Tranche of Notes, the applicable
Indenture Supplement may specify different or additional means of giving notice to the Holders of the Notes of such Tranche. 
 (d) Where
this Indenture provides for notice to any Note Rating Agency, failure to give such notice will not affect any other rights or obligations created hereunder and will not under any circumstance constitute an Adverse Effect or a breach of a condition
precedent to the related action, if any. 
 Section 1.07. Conflict with Trust Indenture Act. If and to the
extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by, or with another provision (an “incorporated provision”) included in this Indenture by operation of, sections 310 to 318, inclusive,
of the Trust Indenture Act, such imposed duties or incorporated provision will control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision will
be deemed to apply to this Indenture as so modified or excluded, as the case may be. 
 Section 1.08. Effect of
Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and will not affect the construction hereof. 

Section 1.09. Successors and Assigns. All covenants and agreements in this Indenture by the Issuer will bind
its successors and assigns, whether so expressed or not. All covenants and agreements of the Indenture Trustee in this Indenture shall bind its successors, co- trustees and agents of the Indenture Trustee.

 Section 1.10. Separability. In case any provision in this Indenture or in the Notes will be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 1.11. Benefits of Indenture. Nothing in this Indenture or in any Notes, express or implied, will give
to any Person, other than the parties hereto and their successors hereunder, the Derivative Counterparties (to the extent specified in the applicable Derivative Agreement) and the Holders of Notes (or such of them as may be affected thereby), any
benefit or any legal or equitable right, remedy or claim under this Indenture. 

  
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 Section 1.12. GOVERNING LAW; CONSENT TO JURISDICTION; WAIVER
OF JURY TRIAL. 
 (a) THIS INDENTURE AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO OR IN CONNECTION WITH THIS
INDENTURE, THE RELATIONSHIP OF THE PARTIES, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY CONFLICTS OF LAW PRINCIPLES OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 
 (b) EACH PARTY HERETO, AND THE NOTEHOLDERS BY
ACCEPTING THEIR INTEREST IN THE NOTES, HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THEM
PERTAINING TO THIS INDENTURE OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS INDENTURE; PROVIDED, THAT EACH PARTY HERETO ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED OUTSIDE OF THE BOROUGH OF
MANHATTAN IN NEW YORK CITY. EACH PARTY HERETO SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION THAT SUCH PARTY MAY HAVE BASED UPON LACK OF
PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH PARTY HERETO HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT
AND OTHER PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH PARTY AT ITS ADDRESS DETERMINED IN ACCORDANCE WITH SECTION
1.05 AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH PARTY’S ACTUAL RECEIPT THEREOF OR THREE (3) DAYS AFTER DEPOSIT IN THE UNITED STATES MAIL, PROPER POSTAGE PREPAID. NOTHING IN THIS SECTION SHALL AFFECT THE
RIGHT OF ANY PARTY HERETO TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 
 (c) BECAUSE DISPUTES ARISING IN CONNECTION
WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR
DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF 

  
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THE JUDICIAL SYSTEM, THE PARTIES HERETO AND THE NOTEHOLDERS BY ACCEPTING THEIR INTEREST IN THE NOTES WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY
DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS INDENTURE OR THE TRANSACTIONS CONTEMPLATED HEREBY. NOTHING IN THIS
SECTION 1.12 SHALL LIMIT THE RIGHTS OF ANY PERSON PURSUANT TO SECTION 2.10 OF THE TRANSFER AGREEMENT OR SECTION 6.03 OF THE RECEIVABLES PURCHASE AGREEMENT IN CONNECTION WITH A REQUEST RELATING TO THE REPURCHASE OF RECEIVABLES;
PROVIDED, THAT, FOR THE AVOIDANCE OF DOUBT, THE PARTIES HERETO HEREBY AGREE THAT NONE OF THE INDENTURE TRUSTEE, THE PAYING AGENT OR THE NOTE REGISTRAR SHALL BE OBLIGATED TO ARBITRATE ANY MATTER REGARDING ITS RIGHTS, DUTIES, PRIVILEGES,
INDEMNITIES, PROTECTIONS, IMMUNITIES AND BENEFITS. 
 Section 1.13. Counterparts. This Indenture may be
executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 

Section 1.14. Indenture Referred to in the Trust Agreement. This is the Indenture referred to in the Trust
Agreement. 
 Section 1.15. Legal Holidays. In any case where the date on which any payment is due shall
not be a Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date on
which nominally due, and no interest shall accrue for the period from and after any such nominal date. 

Section 1.16. Electronic Signatures. Delivery of a signature page to, or an executed counterpart of, this
Indenture and any other documents to be delivered in connection with the transactions contemplated hereby by facsimile, email transmission of a scanned image, or other electronic means, shall be effective as delivery of an originally executed
counterpart. The parties hereto agree that “execution,” “signed,” “signature,” and words of like import in this document and any such other documents shall be deemed to include electronic signatures, authentication, or
the keeping of records in electronic form, each of which shall be of the same legal effect, validity, enforceability or admissibility as a manually executed signature or the use of a paper-based record keeping system, as the case may be, to the
extent and as provided for in any applicable law, including, without limitation, Electronic Signatures in Global and National Commerce Act, the Uniform Electronic Transactions Act, New York Electronic Signatures and Records Act (N.Y. State Tech.
§§ 301-309), or the UCC, and the parties hereto hereby waive any objection to the contrary. 

  
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 ARTICLE II 

NOTE FORMS 

Section 2.01. Forms Generally. The Notes will have such appropriate insertions, omissions, substitutions and
other variations as are required or permitted by this Indenture or the applicable Indenture Supplement and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon, as may be required to comply
with applicable laws or regulations or with the rules of any securities exchange, or as may, consistently herewith, be determined by the Issuer, as evidenced by the Issuer’s execution of such Notes. Any portion of the text of any Note may be
set forth on the reverse thereof, with an appropriate reference thereto on the face of the Note. 
 The Definitive Notes will be
typewritten, printed, lithographed or engraved or produced by any combination of these methods (with or without steel engraved borders) or may be produced in any other manner, all as determined by the Issuer, as evidenced by the Issuer’s
execution of such Notes, subject, with respect to the Notes of any Series, Class or Tranche, to the rules of any securities exchange on which such Notes are listed. 

Section 2.02. Forms of Notes. Each Note will be in one of the forms approved from time to time by or pursuant
to an Indenture Supplement. Before the delivery of a Note to the Note Registrar for authentication in any form approved by or pursuant to an Issuer Certificate, the Issuer will deliver to the Note Registrar the Issuer Certificate by or pursuant to
which such form of Note has been approved, which Issuer Certificate will have attached thereto a true and correct copy of the form of Note which has been approved thereby or, if an Issuer Certificate authorizes a specific officer or officers of the
Beneficiary to approve a form of Note, a certificate of such officer or officers approving the form of Note attached thereto. Any form of Note approved by or pursuant to an Issuer Certificate must be acceptable as to form to the Note Registrar, such
acceptance to be evidenced by the Note Registrar’s authentication of Notes in that form or a certificate signed by a Responsible Officer of the Note Registrar and delivered to the Issuer. 

Section 2.03. Form of Note Registrar’s Certificate of Authentication. The form of Note Registrar’s
Certificate of Authentication for any Note issued pursuant to this Indenture will be substantially as follows: 

  
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 NOTE REGISTRAR’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the Series, Class or Tranche designated therein referred to in the
within-mentioned Indenture. 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual

capacity but solely in its capacity as Note

Registrar,

		
	By:	 	 
		 	Name:
		 	Title:
	Dated:	 	 

 Section 2.04. Notes Issuable in the Form of a Global Note.  

(a) If the Issuer establishes pursuant to Sections 2.02 and 3.01 that the Notes of a particular Series,
Class or Tranche are to be issued in whole or in part in the form of one or more Global Notes, then the Issuer will execute and the Note Registrar will, in accordance with Section 3.03 and the Issuer Certificate
delivered to the Note Registrar thereunder, authenticate and deliver, such Global Note or Notes, which, unless otherwise provided in the applicable Indenture Supplement (i) will represent, and will be denominated in an amount equal to the
aggregate Stated Principal Amount (or in the case of Discount Notes, the aggregate Stated Principal Amount at the Expected Principal Payment Date of such Notes) of the Outstanding Notes of such Series, Class or Tranche to be represented by such
Global Note or Notes, or such portion thereof as the Issuer will specify in an Issuer Certificate, (ii) in the case of Registered Notes, will be registered in the name of the Depository for such Global Note or Notes or its nominee,
(iii) will be delivered by the Note Registrar to the Depository or pursuant to the Depository’s instruction, (iv) if applicable, will bear a legend substantially to the following effect: “Unless this Note is presented by an
authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any note 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” and (v) may bear such other legend as the Issuer, upon advice of counsel, deems
to be applicable. 
 (b) Notwithstanding any other provisions of this Section 2.04 or of
Section 3.05, and subject to the provisions of paragraph (c) below, unless the terms of a Global Note or the applicable Indenture Supplement expressly permit such Global Note to be exchanged in whole or in part for
individual Definitive Notes, a Global Note may be transferred, in whole but not in part and in the manner provided in Section 3.05, only to a nominee of the Depository 

  
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for such Global Note, or to the Depository, or a successor Depository for such Global Note selected or approved by the Issuer, or to a nominee of such successor Depository. 

(c) Unless otherwise specified in the applicable Indenture Supplement: 

(i) If at any time the Depository for a Global Note notifies the Issuer that it is unwilling or unable to continue as
Depository for such Global Note or if at any time the Depository for the Notes for such Series, Class or Tranche ceases to be a clearing agency registered under the Exchange Act, or other applicable statute or regulation, the Issuer will
appoint a successor Depository with respect to such Global Note. If a successor Depository for such Global Note is not appointed by the Issuer within ninety (90) days after the Issuer receives such notice or becomes aware of such ineligibility,
the Issuer will execute, and the Note Registrar, upon receipt of an Issuer Certificate requesting the authentication and delivery of individual Notes of such Series, Class or Tranche in exchange for such Global Note, will authenticate and
deliver, individual Definitive Notes of such Series, Class or Tranche of like tenor and terms in an aggregate Stated Principal Amount equal to the Stated Principal Amount of the Global Note in exchange for such Global Note. 

(ii) The Issuer may at any time and in its sole discretion determine that the Notes of any Series, Class or Tranche or
portion thereof issued or issuable in the form of one or more Global Notes will no longer be represented by such Global Note or Notes. In such event the Issuer will execute, and the Note Registrar, upon receipt of an Issuer Certificate for the
authentication and delivery of individual Notes of such Series, Class or Tranche in exchange in whole or in part for such Global Note, will authenticate and deliver individual Definitive Notes of such Series, Class or Tranche of like tenor
and terms in an aggregate Stated Principal Amount equal to the Stated Principal Amount of such Global Note or Notes representing such Series, Class or Tranche or portion thereof in exchange for such Global Note or Notes. 

(iii) If specified by the Issuer pursuant to Sections 2.02 and 3.01 with respect to Notes
issued or issuable in the form of a Global Note, the Depository for such Global Note may surrender such Global Note in exchange in whole or in part for individual Notes of such Series, Class or Tranche of like tenor and terms in Definitive Note
form on such terms as are acceptable to the Issuer and such Depository. Thereupon the Issuer will execute, and the Note Registrar will authenticate and deliver, without service charge, (A) to each Person specified by such Depository a new Note
or Notes of the same Series, Class or Tranche of like tenor and terms and of any authorized denomination as requested by such Person in aggregate Stated Principal Amount equal to and in exchange for such Person’s beneficial interest in the
Global Note; and (B) to such Depository a new Global Note of like tenor and terms and in an authorized denomination equal to the difference, if any, between the Stated Principal Amount of the surrendered Global Note and the aggregate Stated
Principal Amount of Notes delivered to the Holders thereof. 

  
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 (iv) If any Event of Default has occurred with respect to such Global Notes,
and Holders of Notes evidencing not less than 50% of the unpaid Outstanding Dollar Principal Amount of the Global Notes of that Tranche advise the Indenture Trustee and the Depository that a Global Note is no longer in the best interest of the
Noteholders, the Holders of Global Notes of that Tranche may exchange such Notes for individual Definitive Notes. 
 (v) In
any exchange provided for in any of the preceding four paragraphs, the Issuer will execute and the Note Registrar will authenticate and deliver individual Definitive Notes in authorized denominations. Upon the exchange of the entire Stated Principal
Amount of a Global Note for individual Definitive Notes, such Global Note will be canceled by the Note Registrar. Except as provided in the preceding paragraphs, Notes issued in exchange for a Global Note pursuant to this
Section 2.04 will be registered in such names and in such authorized denominations as the Depository for such Global Note, pursuant to instructions from its direct or indirect participants or otherwise, will instruct the
Note Registrar. The Note Registrar will deliver such Notes to the Persons in whose names such Notes are so registered. 

Section 2.05. Temporary Global Notes and Permanent Global Notes. 

(a) If specified in the applicable Indenture Supplement for any Tranche, all or any portion of a Global Note may initially be issued in the
form of a single temporary global Registered Note (the “Temporary Global Note”), without interest coupons, in the denomination of the entire aggregate principal amount of such Tranche and substantially in the form set forth in the
exhibit with respect thereto attached to the applicable Indenture Supplement. The Temporary Global Note will be authenticated by the Note Registrar upon the same conditions, in substantially the same manner and with the same effect as the Definitive
Notes. The Temporary Global Note may be exchanged as described in the applicable Indenture Supplement for permanent global Registered Notes (the “Permanent Global Notes”). 

(b) Upon any such exchange of all or a portion of the Temporary Global Note for a Permanent Global Note or Notes, such Temporary Global Note
will be endorsed by or on behalf of the Note Registrar to reflect the reduction of its principal amount by an amount equal to the aggregate principal amount of such Permanent Global Note or Notes. Until so exchanged in full, such Temporary Global
Note will in all respects be entitled to the same benefits under this Indenture as Permanent Global Notes authenticated and delivered hereunder except that the beneficial owners of such Temporary Global Note will not be entitled to receive payments
of interests on the Notes until they have exchanged their beneficial interests in such Temporary Global Note for Permanent Global Notes. 

Section 2.06. Beneficial Ownership of Global Notes. Until Definitive Notes have been issued to the applicable
Noteholders pursuant to Section 2.04 or as otherwise specified in any applicable Indenture Supplement: 
 (a) the
Issuer, the Indenture Trustee, the Paying Agent and the Note Registrar may deal with the applicable clearing agency and the clearing agency’s participants for all 

  
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purposes (including the making of distributions) as the authorized representatives of the respective Note Owners; and 

(b) the rights of the respective Note Owners will be exercised only through the applicable clearing agency and the clearing agency’s
participants and will be limited to those established by law and agreements between such Note Owners and the clearing agency and/or the clearing agency’s participants. Pursuant to the operating rules of the applicable clearing agency, unless
and until Definitive Notes are issued pursuant to Section 2.04, the clearing agency will make book-entry transfers among the clearing agency’s participants and receive and
transmit distributions of principal and interest on the related Notes to such clearing agency’s participants. Beneficial owners or clearing agency participants shall have no rights under this Indenture with respect to any Global Note held on
its behalf by a clearing agency, the Indenture Trustee or a custodian and the applicable clearing agency may be treated as the absolute owner of the Global Note for all purposes whatsoever. 

For purposes of any provision of this Indenture requiring or permitting actions with the consent of, or at the direction of, Noteholders
evidencing a specified percentage of the aggregate unpaid principal amount of Outstanding Notes, such direction or consent may be given by Note Owners (acting through the clearing agency and the clearing agency’s participants) owning interests
in Notes evidencing the requisite percentage of principal amount of Notes. 
 Section 2.07. Notices to
Depository. Whenever any notice or other communication is required to be given to Noteholders with respect to which book-entry Notes have been issued, unless and until Definitive Notes will have been
issued to the related Note Owners, the Indenture Trustee, the Note Registrar and the Paying Agent, as the case may be, will give all such notices and communications to the applicable Depository, in accordance with the operation rules of the
applicable Depository. 

  
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 ARTICLE III 

THE NOTES 

Section 3.01. General Title; General Limitations; Issuable in Series; Terms of a Series,
Class or Tranche. 
 (a) The aggregate Stated Principal Amount of Notes which may be authenticated and delivered and
Outstanding under this Indenture is not limited. 
 (b) The Notes may be issued in one or more Series, Classes or Tranches up to an
aggregate Stated Principal Amount of Notes as from time to time may be authorized by the Issuer. All Notes of each Series, Class or Tranche under this Indenture will in all respects be equally and ratably entitled to the benefits hereof with
respect to such Series, Class or Tranche without preference, priority or distinction on account of the actual time of the authentication and delivery or Expected Principal Payment Date or Legal Maturity Date of the Notes of such Series,
Class or Tranche, except as specified in the applicable Indenture Supplement for such Series, Class or Tranche. 
 (c) Each Note
issued must be part of a Series, Class and Tranche of Notes for purposes of allocations pursuant to Article V. A Series of Notes is created pursuant to an Indenture Supplement. A Class or Tranche of Notes is
created pursuant to an Indenture Supplement or pursuant to an Issuer Certificate or Terms Document, each related to the Indenture Supplement for the applicable Series. 

(d) Each Series of Notes may be assigned to a Group or Groups of Notes for purposes of allocations pursuant to
Article V. The related Indenture Supplement will identify the Group or Groups, if any, to which a Series of Notes has been assigned and the manner and extent to which Series in the same Group will share amounts. 

(e) Each Series of Notes may, but need not be, subdivided into multiple Classes. Notes belonging to a Class in any Series may be entitled
to specified payment priorities over other Classes of Notes in that Series. 
 (f) Notes of a Series that belong to different Classes in
that Series belong to different Tranches on the basis of the difference in Class membership. 
 (g) Each Class of Notes may
consist of a single Tranche or may be subdivided into multiple Tranches. Notes of a single Class of a Series will belong to different Tranches if they have different terms and conditions. With respect to any Class of Notes, Notes which
have identical terms, conditions and Tranche designation will be deemed to be part of a single Tranche. 
 (h) There shall also be
established in or pursuant to an Indenture Supplement or pursuant to an Issuer Certificate or Terms Document related to the applicable Indenture 

  
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Supplement before the initial issuance of Notes of each such Series, Class or Tranche, provision for: 

(i) the Series designation; 

(ii) the Stated Principal Amount of the Notes; 

(iii) whether such Series belongs to any Group or Groups; 

(iv) whether such Notes are of a particular Class of Notes or a Tranche of any such Class; 

(v) the Required Subordinated Amount (if any) for such Class or Tranche of Notes; 

(vi) the currency or currencies in which such Notes will be denominated and in which payments of principal of, and interest on,
such Notes will or may be payable; 
 (vii) if the principal of or interest, if any, on such Notes are to be payable, at the
election of the Issuer or a Holder thereof, in a currency or currencies other than that in which the Notes are stated to be payable, the period or periods within which, and the terms and conditions upon which, such election may be made; 

(viii) if the amount of payments of principal of or interest, if any, on such Notes may be determined with reference to an
index based on (A) a currency or currencies other than that in which the Notes are stated to be payable, (B) changes in the prices of one or more other securities or groups or indexes of securities or (C) changes in the prices of one
or more commodities or groups or indexes of commodities, or any combination of the foregoing, the manner in which such amounts will be determined; 

(ix) the price or prices at which the Notes will be issued; 

(x) the times at which such Notes may, pursuant to any optional or mandatory redemption provisions, be redeemed, and the other
terms and provisions of any such redemption provisions; 
 (xi) the rate per annum at which such Notes will bear interest, if
any, or the formula or index on which such rate will be determined, including all relevant definitions, and the date from which interest will accrue; 

(xii) each Interest Payment Date, Expected Principal Payment Date and Legal Maturity Date for such Notes; 

  
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 (xiii) the Initial Dollar Principal Amount of such Notes, and the means for
calculating the Outstanding Dollar Principal Amount of such Notes; 
 (xiv) whether or not application will be made to list
such Notes on any securities exchange; 
 (xv) any Events of Default or Early Redemption Events with respect to such Notes,
if not set forth herein and any additions, deletions or other changes to the Events of Default or Early Redemption Events set forth herein that will be applicable to such Notes (including a provision making any Event of Default or Early Redemption
Event set forth herein inapplicable to the Notes of that Series, Class or Tranche); 
 (xvi) subject to the terms of
Section 8.14, the appointment by the Indenture Trustee of an Authenticating Agent in one or more places other than the location of the office of the Indenture Trustee with power to act on behalf of the Indenture Trustee and
subject to its direction in the authentication and delivery of such Notes in connection with such transactions as will be specified in the provisions of this Indenture or in or pursuant to the applicable Indenture Supplement creating such Series,
Class or Tranche; 
 (xvii) if such Notes will be issued in whole or in part in the form of a Global Note or Global
Notes, the terms and conditions, if any, upon which such Global Note or Global Notes may be exchanged in whole or in part for other individual Definitive Notes; and the Depository for such Global Note or Global Notes (if other than the Depository
specified in Section 1.01); 
 (xviii) the subordination of such Notes to any other indebtedness of
the Issuer, including without limitation, the Notes of any other Series, Class or Tranche; 
 (xix) if such Notes are to
have the benefit of any Derivative Agreement, the terms and provisions of such agreement; 
 (xx) the Record Date for any
Payment Date of such Notes, if different from the last day of the month before the related Payment Date; 
 (xxi) the
controlled accumulation amount, if any, the controlled amortization amount, if any, or other principal amortization amount, if any, scheduled for such Notes; and 

(xxii) any other terms of such Notes which will not be inconsistent with the provisions of this Indenture; 

all upon such terms as may be determined in or pursuant to an Indenture Supplement with respect to such Series, Class or Tranche. 

  
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 (i) The form of the Notes of each Series, Class or Tranche will be established pursuant
to the provisions of this Indenture and the related Indenture Supplement creating such Series, Class or Tranche. The Notes of each Series, Class or Tranche will be distinguished from the Notes of each other Series, Class or Tranche in
such manner, reasonably satisfactory to the Indenture Trustee and the Note Registrar, as the Issuer may determine. 
 (j) Unless otherwise
provided with respect to Notes of a particular Series, Class or Tranche, the Notes of any particular Series, Class or Tranche will be issued in registered form, without coupons. 

(k) Any terms or provisions in respect of the Notes of any Series, Class or Tranche issued under this Indenture may be determined
pursuant to this Section 3.01 by providing in the applicable Indenture Supplement for the method by which such terms or provisions will be determined. 

(l) The Notes of each Series, Class or Tranche may have such Expected Principal Payment Date or Expected Principal Payment Dates or Legal
Maturity Date or Legal Maturity Dates, be issuable at such premium over or discount from their face value, bear interest at such rate or rates (which may be fixed or floating), from such date or dates, payable in such installments and on such dates
and at such place or places to the Holders of Notes registered as such on such Record Dates, or may bear no interest, and have such terms, all as will be provided for in or pursuant to the applicable Indenture Supplement. 

Section 3.02. Denominations. The Notes of each Tranche will be issuable in such denominations and currency as
will be provided in the provisions of this Indenture or in or pursuant to the applicable Indenture Supplement. In the absence of any such provisions with respect to the Registered Notes of any Tranche, the Registered Notes of that Tranche will be
issued in denominations of $1,000 and multiples thereof. 
 Section 3.03. Execution, Authentication and
Delivery and Dating. 
 (a) The Notes will be executed on behalf of the Issuer by an Issuer Authorized Officer. The signature of any
officer of the Beneficiary or the Owner Trustee on the Notes may be manual or facsimile. 
 (b) Notes bearing the manual or facsimile
signatures of individuals who were at any time an Issuer Authorized Officer will bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices before the authentication and delivery of such Notes or did not
hold such offices at the date of issuance of such Notes. 
 (c) At any time and from time to time after the execution and delivery of this
Indenture, the Issuer may deliver Notes executed by the Issuer to the Note Registrar for authentication; and the Note Registrar will, upon request by an Issuer Certificate, authenticate and deliver such Notes as in this Indenture provided and not
otherwise. 

  
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 (d) Before any such authentication and delivery, the Note Registrar will be entitled to
receive, in addition to any Officer’s Certificate and Opinion of Counsel required to be furnished to the Note Registrar pursuant to Section 1.02, the Issuer Certificate and any other opinion or certificate relating to
the issuance of the Tranche of Notes required to be furnished pursuant to Section 2.02 or Section 3.10. 

(e) The Note Registrar will not be required to authenticate such Notes if the issue thereof will adversely affect the Note Registrar’s
own rights, duties, privileges, indemnities, protections, immunities and benefits under the Notes and this Indenture. 
 (f) Unless
otherwise provided in the form of Note for any Tranche, all Notes will be dated the date of their authentication. 
 (g) No Note will be
entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein executed by the Note Registrar by manual signature
of an authorized signatory, and such certificate upon any Note will be conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder. 

Section 3.04. Temporary Notes. 

(a) Pending the preparation of Definitive Notes of any Tranche, the Issuer may execute, and, upon receipt of the documents required by
Section 3.03, together with an Issuer Certificate, the Note Registrar will authenticate and deliver, temporary Notes which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the Definitive Notes in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the Issuer may determine, as evidenced by the Issuer’s
execution of such Notes. 
 (b) If temporary Notes of any Tranche are issued, the Issuer will cause Definitive Notes of such Tranche to be
prepared without unreasonable delay. After the preparation of Definitive Notes, the temporary Notes of such Tranche will be exchangeable for Definitive Notes of such Tranche upon surrender of the temporary Notes of such Tranche at the office or
agency of the Note Registrar at its Corporate Trust Office, without charge to the Noteholder; and upon surrender for cancellation of any one or more temporary Notes the Issuer will execute and the Note Registrar will authenticate and deliver in
exchange therefor a like Stated Principal Amount of Definitive Notes of such Tranche of authorized denominations and of like tenor and terms. Until so exchanged, the temporary Notes of such Tranche will in all respects be entitled to the same
benefits under this Indenture as Definitive Notes of such Tranche. 
 Section 3.05. Registration, Transfer and
Exchange. 
 (a) Wells Fargo Bank, National Association is hereby appointed as the note registrar (in such capacity, the “Note
Registrar”) to provide for the registration of Notes, and transfers and exchanges of Notes as provided herein. The Note Registrar shall keep a register 

  
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(the “Note Register”) in which the Note Registrar shall maintain, subject to such reasonable regulations as it may prescribe, the registration of Registered Notes, or of
Registered Notes of a particular Tranche and transfers of Registered Notes or of Registered Notes of such Tranche. In the course of maintaining the Note Register, the Note Registrar shall be acting as an agent of the Issuer. The Note Register shall
be in written form or in any other form capable of being converted into written form within a reasonable time. At all reasonable times the information contained in such register or registers will be available for inspection by the Indenture Trustee
at the Corporate Trust Office of the Note Registrar as provided in Section 11.02. 
 (b) Subject to
Section 2.04, upon surrender for registration of transfer of any Registered Note of any Tranche at the office or agency of the Note Registrar maintained for such purpose, if the requirements of Section 8-401(a) of the UCC are met (which the Note Registrar shall have no duty to verify), the Issuer will execute, and, upon receipt of such surrendered Note, the Note Registrar will authenticate and
deliver, in the name of the designated transferee or transferees, one or more new Registered Notes of such Tranche of any authorized denominations, of a like aggregate Stated Principal Amount, Expected Principal Payment Date and Legal Maturity Date
and of like terms. As of the Closing Date, the offices of the Note Registrar maintained for such purpose are located at the Corporate Trust Office of the Note Registrar. 

(c) Subject to Section 2.04, at the option of the Noteholder, Notes of any Tranche may be exchanged for other Notes
of such Tranche of any authorized denominations, of a like aggregate Stated Principal Amount, Expected Principal Payment Date and Legal Maturity Date and of like terms, upon surrender of the Notes to be exchanged at the Corporate Trust Office of the
Note Registrar. Whenever any Notes are so surrendered for exchange, the Issuer will execute, and the Note Registrar will authenticate and deliver, the Notes which the Noteholders making the exchange are entitled to receive. 

(d) All Notes issued upon any transfer or exchange of Notes will be the valid and legally binding obligations of the Issuer, evidencing the
same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such transfer or exchange. 
 (e) Every
Note presented or surrendered for transfer or exchange will (if so required by the Issuer, the Note Registrar or the Indenture Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Issuer and
the Note Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 
 (f) Unless otherwise provided in the
Note to be transferred or exchanged, no service charge will be made on any Noteholder for any transfer or exchange of Notes, but the Issuer or the Note Registrar may (unless otherwise provided in such Note) require payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Notes, other than exchanges pursuant to Sections 3.04 or 10.06 not involving any transfer. 

(g) None of the Issuer, the Indenture Trustee, the Paying Agent or the Note Registrar or any agent of the foregoing will have any
responsibility or liability for any aspect of 

  
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 the records relating to or payments made on account of beneficial ownership interests of a
Global Note or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 
 (h) The Issuer
initially appoints Wells Fargo Bank, National Association, pursuant to subsection 3.05(a), to act as Note Registrar for the Registered Notes on its behalf. The Issuer may at any time and from time to time authorize any Person to act as Note
Registrar in place of Wells Fargo Bank, National Association with respect to any Tranche of Notes issued under this Indenture. 
 (i)
Registration of transfer of Notes containing the following legend or a legend the substance of which is not inconsistent with the following legend, or to which any such legend is applicable: 

“THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE BLUE SKY OR
SECURITIES LAW. NEITHER THIS NOTE NOR ANY PORTION HEREOF MAY BE OFFERED OR SOLD EXCEPT IN COMPLIANCE WITH THE REGISTRATION PROVISIONS UNDER THE SECURITIES ACT AND ANY APPLICABLE PROVISIONS OF ANY STATE BLUE SKY OR SECURITIES LAWS OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM SUCH REGISTRATION PROVISIONS. THE TRANSFER OF THIS NOTE IS SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN.” 

will be effected only if such transfer is made pursuant to an effective registration statement under the Securities Act, or is exempt from the
registration requirements under the Securities Act. In the event that registration of a transfer is to be made in reliance upon an exemption from the registration requirements under the Securities Act other than Rule 144A under the Securities Act or
Rule 903 or Rule 904 of Regulation S under the Securities Act, the transferor or the transferee will deliver, at its expense, to the Issuer, the Note Registrar and the Indenture Trustee, an investment letter from the transferee, substantially
in the form of the investment letter attached hereto as Exhibit A or such other form as the Issuer may determine, and no registration of transfer will be made until such letter is so delivered. 

Notes issued upon registration or transfer of, or Notes issued in exchange for, Notes bearing the legend referred to above will also bear such
legend unless the Issuer, the Indenture Trustee and the Note Registrar receive an Opinion of Counsel, satisfactory to each of them, to the effect that such legend may be removed. 

Whenever a Note containing the legend referred to above is presented to the Note Registrar for registration of transfer, the Note Registrar
will promptly seek instructions from the Issuer regarding such transfer and will be entitled to receive an Issuer Certificate prior to registering any such transfer. The Issuer hereby agrees to indemnify the Note Registrar and the Indenture Trustee
and to hold each of them harmless against any loss, liability or expense 

  
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incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by them in relation to any such instructions furnished pursuant to this
clause. 
 Notwithstanding anything herein to the contrary, none of the Indenture Trustee, the Paying Agent or the Note Registrar shall be
responsible for ascertaining whether any transfer complies with the registration provisions or exemptions from the Securities Act, applicable state securities laws, the Internal Revenue Code or the Investment Company Act. 

Section 3.06. Mutilated, Destroyed, Lost and Stolen Notes. 

(a) If (i) either any mutilated Note is surrendered to the Note Registrar or the Issuer, the Note Registrar and the Indenture Trustee
receive evidence to their satisfaction of the destruction, loss or theft of any Note, and (ii) there is delivered to the Issuer, the Note Registrar and the Indenture Trustee such security or indemnity as may be required by them to save each of
them harmless, then, in the absence of notice to the Issuer, the Note Registrar or the Indenture Trustee that such Note has been acquired by a protected purchaser, the Issuer will execute and upon its request the Note Registrar will authenticate and
deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Note, a new Note of like tenor, Series, Class or Tranche, Expected Principal Payment Date, Legal Maturity Date and Stated Principal Amount, bearing a number
not contemporaneously Outstanding. 
 (b) In case any such mutilated, destroyed, lost or stolen Note has become or is about to become due
and payable, the Issuer in its discretion may, instead of issuing a new Note, pay such Note. 
 (c) Upon the issuance of any new Note under
this Section 3.06, the Issuer and the Note Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the
fees, expenses and indemnities of the Note Registrar) connected therewith. 
 (d) Every new Note issued pursuant to this
Section 3.06 in lieu of any destroyed, lost or stolen Note will constitute an original additional contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Note will be at any time enforceable by
anyone, and will be entitled to all the benefits of this Indenture equally and proportionately with any and all other Notes of the same Series, Class or Tranche duly issued hereunder. 

(e) The provisions of this Section 3.06 are exclusive and will preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 

Section 3.07. Payment of Interest; Interest Rights Preserved. 

(a) Unless otherwise provided with respect to such Note pursuant to Section 3.01, interest payable on any Registered
Note will be paid to the Person in whose name that Note (or one or more Predecessor Notes) is registered at the close of business on the most recent Record Date. 

  
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 (b) Subject to clause (a), each Note delivered under this Indenture upon transfer of or
in exchange for or in lieu of any other Note will carry the rights to interest accrued or principal accreted and unpaid, and to accrue or accrete, which were carried by such other Note. 

(c) The right of any Noteholder to receive interest on or principal of any Note shall be subject to any applicable withholding or deduction
imposed pursuant to the Internal Revenue Code or other applicable tax law, including foreign withholding and deduction. Any amounts properly so withheld or deducted shall be treated as actually paid to the appropriate Noteholder. 

Section 3.08. Persons Deemed Owners. The Issuer, the Indenture Trustee, the Owner Trustee, the Beneficiary,
the Note Registrar, the Paying Agent and any of their respective agents may treat the Person who is proved to be the owner of such Note pursuant to subsection 1.04(c) as the owner of such Note for the purpose of receiving
payment of principal of and (subject to Section 3.07) interest on such Note and for all other purposes whatsoever, whether or not such Note be overdue, and none of the Issuer, the Indenture Trustee, the Owner Trustee, the
Paying Agent or the Note Registrar or any agent of the Issuer, the Indenture Trustee, the Owner Trustee, the Note Registrar, the Paying Agent or the Beneficiary will be affected by notice to the contrary. 

Section 3.09. Cancellation. All Notes surrendered for payment, redemption, transfer, conversion or exchange
will, if surrendered to any Person other than the Note Registrar, be delivered to the Note Registrar and, if not already canceled, will be promptly canceled by it. The Issuer may at any time deliver to the Note Registrar for cancellation any Notes
previously authenticated and delivered hereunder which the Issuer may have acquired in any manner whatsoever, and all Notes so delivered will be promptly canceled by the Note Registrar. No Note will be authenticated in lieu of or in exchange for any
Notes canceled as provided in this Section 3.09, except as expressly permitted by this Indenture. The Note Registrar will dispose of all canceled Notes in accordance with its customary procedures and will, upon written
request of the Issuer, deliver a certificate of such disposition to the Issuer. 
 Section 3.10. New Issuances
of Notes. 
 (a) The Issuer may issue new Notes of any Series, Class or Tranche, so long as the following conditions precedent are
satisfied: 
 (i) on or before the third Business Day before the date that the new issuance is to occur, the Issuer gives the
Indenture Trustee, the Note Registrar, the Paying Agent and the Note Rating Agencies written notice of the issuance; 
 (ii)
on or prior to the date that the new issuance is to occur, the Issuer delivers to the Indenture Trustee, the Note Registrar and each Note Rating Agency an Issuer Certificate to the effect that: 

  
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 (A) the Issuer reasonably believes that the new issuance will not at the
time of its occurrence or at a future date cause an Adverse Effect on any Outstanding Notes; 
 (B) all instruments
furnished to the Indenture Trustee and the Note Registrar conform to the requirements of this Indenture and constitute sufficient authority hereunder for the Note Registrar to authenticate and deliver such Notes; 

(C) the form and terms of such Notes have been established in conformity with the provisions of this Indenture; and 

(D) such other matters as the Indenture Trustee or the Note Registrar may reasonably request; 

(iii ) on or before the date that the new issuance is to occur, the Issuer will have delivered to the Indenture Trustee, the
Note Registrar and the Note Rating Agencies an Opinion of Counsel, which may be from internal counsel of the Issuer, that all laws and requirements with respect to the execution and delivery by the Issuer of such Notes have been complied with, the
Issuer has the trust power and authority to issue such Notes and such Notes have been duly authorized and delivered by the Issuer and, assuming due authentication and delivery by the Note Registrar, constitute legal, valid and binding obligations of
the Issuer enforceable in accordance with their terms (subject, as to enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws and legal principles affecting creditors’ rights generally from time
to time in effect and to general equitable principles, whether applied in an action at law or in equity) and entitled to the benefits of this Indenture, equally and ratably with all other Notes, if any, of such Series, Class or Tranche
Outstanding, subject to the terms of this Indenture and each Indenture Supplement; 
 (iv) on or before the date that the new
issuance is to occur, the Issuer will have delivered to the Indenture Trustee, the Note Registrar and the Note Rating Agencies an Issuer Tax Opinion with respect to such issuance; 

(v) on or before the date that the new issuance is to occur, the Issuer will have delivered to the Indenture Trustee, the
Paying Agent and the Note Registrar an Indenture Supplement and, if applicable, the Issuer Certificate or Terms Document relating to the applicable Series, Class and Tranche of Notes; 

(vi) in the case of foreign currency Notes, the Issuer will have appointed one or more Paying Agents in the appropriate
countries; 
 (vii) satisfaction of the Rating Agency Condition; 

(viii) the conditions specified herein or in Section 3.11 are satisfied; and 

  
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 (ix) any other conditions specified herein in the applicable Indenture Supplement; 

provided, however, that any one of the aforementioned conditions (other than clauses (iv), (v) and (vi)) may be eliminated or modified as a
condition precedent to any new issuance of a Series, Class or Tranche of Notes if the Issuer has satisfied the Rating Agency Condition with respect to the elimination or modification of such condition precedent. 

(b) The Issuer, the Indenture Trustee and the Note Registrar will not be required to obtain the consent of any Noteholder of any Outstanding
Series, Class or Tranche to issue any additional Notes of any Series, Class or Tranche. 
 (c) There are no restrictions on the
timing or amount of any additional issuance of Notes of an Outstanding Tranche of a multiple issuance Series, so long as the conditions described in paragraph (a) are met. As of the date of any additional issuance of Notes of an Outstanding
Tranche of Notes, the Stated Principal Amount, Outstanding Dollar Principal Amount and Nominal Liquidation Amount of that Tranche will be increased to reflect the principal amount of the additional Notes. If the additional Notes are a Tranche of
Notes that has the benefit of a Derivative Agreement, the Issuer will enter into a Derivative Agreement for the benefit of the additional Notes. The targeted deposits, if any, to the Principal Funding
sub-Account will be increased proportionately to reflect the principal amount of the additional Notes. 

When issued, the additional Notes of a Tranche will be identical in all respects to the other Outstanding Notes of that Tranche and will be
equally and ratably entitled to the benefits of this Indenture and the related Indenture Supplement as the other Outstanding Notes of that Tranche without preference, priority or distinction. In addition, the Issuer agrees to provide notice to the
Transferor and the Servicer of new issuances of Series, Classes or Tranches of Notes as may be required by and in accordance with Item 1121(a)(14) of Regulation AB. 

Section 3.11. Specification of Required Subordinated Amount and Adjustments Thereto. 

(a) The applicable Indenture Supplement for each Series, Class or Tranche of Notes will specify a Required Subordinated Amount of each
Subordinated Class or Tranche of Notes, if any. 
 (b) Except as otherwise set forth in an Indenture Supplement or Terms Document, the
Issuer may change the Required Subordinated Amount or method of computing such amount for any Class or Tranche of Notes at any time, without the consent of any Noteholders, so long as the Issuer has (i) satisfied the Rating Agency
Condition with respect to the change in the Required Subordinated Amount and (ii) delivered to the Indenture Trustee and the Note Rating Agencies an Issuer Tax Opinion. 

Section 3.12. Reallocation Groups. Available Funds and other specified amounts allocated to each Series in a
Reallocation Group shall be reallocated to cover interest and expenses related to each Series in such Reallocation Group as specified in each related 

  
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Indenture Supplement. The reallocation provisions of the Indenture Supplement for each Series in the same Reallocation Group are required to be identical in all material respects. 

Section 3.13. Excess Available Funds Sharing Groups. The Issuer shall cause to be reallocated and
redistributed certain excess Available Funds to cover Series Available Funds Shortfalls incurred by Excess Available Funds Sharing Series in a particular Excess Available Funds Sharing Group as specified in the related Indenture Supplements;
provided, however, that the Beneficiary may, at any time, direct the Issuer to discontinue the sharing of excess Available Funds among Series, and the Issuer shall discontinue or shall cause to be discontinued any further sharing of
excess Available Funds among Series. 
 Section 3.14. Excess Available Principal Amount Sharing Groups. The
Issuer shall cause to be reallocated and redistributed certain excess Available Principal Amounts to cover Series Available Principal Amount Shortfalls incurred by Excess Available Principal Amount Sharing Series in a particular Excess Available
Principal Amount Sharing Group as specified in the related Indenture Supplements; provided, however, that the Beneficiary may, at any time, direct the Issuer to discontinue the sharing of excess Available Principal Amounts among
Series, and the Issuer shall discontinue or shall cause to be discontinued any further sharing of excess Available Principal Amounts among Series. 

  
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 ARTICLE IV 

TRUST ACCOUNTS AND INVESTMENTS 

Section 4.01. Collections. Except as otherwise expressly provided herein, the Indenture Trustee may demand
payment or delivery of, and will receive and collect, directly and without intervention or assistance from any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this
Indenture including, without limitation, all funds and other property payable to the Indenture Trustee in connection with the Collateral, including, without limitation, all Collections. The Indenture Trustee (or the Paying Agent on its behalf) will
hold all such money and property received by it as part of the Collateral and will apply it as provided in this Indenture. 

Section 4.02. Trust Accounts. 

(a) Trust Accounts; Deposits to and Distributions from Trust Accounts. 

(i) (A) On or before the Effective Date, the Issuer will cause to be established and maintained with the Paying Agent a Qualified Trust
Account (the “Collection Account”) in the name of the Indenture Trustee, bearing a designation clearly indicating that such account is the “Collection Account” hereunder and that the funds and other property credited
thereto are held for the benefit of the Indenture Trustee, the Noteholders and any applicable Derivative Counterparty. 
 (B) All
Collections and distributions received pursuant to Section 2.06 of the Servicing Agreement shall be credited to the Collection Account. 

(C) The Collection Account shall be under the “control” (as defined in §§ 9-104 or
9-106 of the UCC, as applicable) of the Indenture Trustee, for the benefit of (1) the Indenture Trustee on behalf of the Noteholders (2) each applicable Derivative Counterparty, (3) the
Indenture Trustee, in its individual capacity and (4) the Note Registrar and the Paying Agent, each in its individual capacity, pursuant to an account control agreement or otherwise. 

(D) If, at any time, the institution holding the Collection Account ceases to be a Qualified Institution, the Issuer will within ten
(10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which the Rating Agency Condition is satisfied) establish with a Qualified Institution that is acting as the Paying Agent a new Collection Account
that is a Qualified Trust Account and shall transfer any funds or other property to such new Collection Account. From the date such new Collection Account is established, it will be the “Collection Account.” 

(ii) (A) On or before the Effective Date, the Issuer will cause to be established and maintained with the Paying Agent a Qualified Trust
Account (the “Excess Funding Account”) in the name of the Indenture Trustee, bearing a designation clearly indicating that such account is the “Excess Funding Account” hereunder and the funds and other property credited
thereto are 

  
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held for the benefit of the Indenture Trustee, the Noteholders and any applicable Derivative Counterparty. 

(B) Collections of Principal Receivables that would otherwise be paid to the Holder of the Transferor Interest, or that the applicable
Indenture Supplement may specify are to be credited to the Excess Funding Account, shall be deposited to the Excess Funding Account as provided in this Indenture and each Indenture Supplement. 

(C) The Excess Funding Account shall be under the “control” (as defined in §§
9-104 or 9-106 of the UCC, as applicable) of the Indenture Trustee, for the benefit of (1) the Noteholders, (2) each applicable Derivative Counterparty,
(3) the Indenture Trustee, in its individual capacity, and (4) the Note Registrar and the Paying Agent, each in its individual capacity, pursuant to an account control agreement or otherwise. 

(D) If, at any time, the institution holding the Excess Funding Account ceases to be a Qualified Institution, the Issuer will within ten
(10) Business Days (or such longer period, not to exceed thirty (30) calendar days, as to which the Rating Agency Condition is satisfied) establish with a Qualified Institution that is acting as the Paying Agent a new Excess Funding
Account that is a Qualified Trust Account and shall transfer any funds or other property to such new Excess Funding Account. From the date such new Excess Funding Account is established, it will be the “Excess Funding Account.” 

(b) All payments to be made from time to time on behalf of the Indenture Trustee to Noteholders out of funds in the Trust Accounts pursuant to
this Indenture will be made by the Paying Agent on behalf of the Indenture Trustee, not later than 12:00 noon on the applicable Payment Date, or as otherwise provided in Article V or the applicable Indenture Supplement but
only to the extent of available funds in the applicable Trust Account. 
 (c) Each of the parties hereto hereby agrees that (i) each
Trust Account will be a “securities account” as such term is defined in Section 8-501(a) of the UCC, (ii) the Paying Agent shall be a “securities intermediary” (as defined in 8-102(a)(14) of the UCC) with respect to each such Trust Account; (iii) New York shall be the “securities intermediary’s jurisdiction” (as defined in 8-110
of the UCC) for purposes of the UCC in connection with the Trust Accounts; (iv) all Eligible Investments and other assets in the Trust Accounts shall be treated as “financial assets” (as defined in
8-102(a)(9) of the UCC); (v) all securities or other property underlying any financial assets credited to such accounts shall be registered in the name of the Paying Agent, or indorsed to the Paying Agent, and
in no case will any financial asset credited to any Trust Account be registered in the name of the Issuer or the Servicer, payable to the order of the Issuer or the Servicer or specially indorsed to the Issuer or the Servicer, except to the extent
the foregoing have been specially indorsed to the Paying Agent at which such accounts are maintained or in blank; and (vi) the “account agreement” (as defined in the Convention on the Law Applicable to Certain Rights in Respect of
Securities Held with an Intermediary, ratified Sept. 28, 2016, S. Treaty Doc. No. 112-6 (2012) (the “Hague Securities Convention”)) with respect to the Trust Accounts set forth that the laws of
the State of New York shall govern all of the issues specified in Article 2(1) of the Hague Securities Convention, and each such account agreement is hereby amended to provide that the laws applicable to all of the issues specified in

  
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Article 2(1) of the Hague Securities Convention shall be the laws of the State of New York. The Trust Accounts shall be held by the Paying Agent on behalf of the Indenture Trustee for the benefit
of the Noteholders and the Indenture Trustee, and the Paying Agent agrees that it will comply with all “entitlement orders” (as defined in 8-102(a)(8) of the UCC) with respect to the Trust Accounts
and any other instructions directing disposition of any financial assets credited thereto, “securities entitlements” (as defined in § 8-102(a)(17) of the UCC) related thereto, any funds on
deposit therein, and any other property held therein that are originated by the Indenture Trustee without further consent of the Issuer or any other Person. Notwithstanding such control by the Indenture Trustee, the Indenture Trustee agrees that
each of the Issuer and the Servicer shall be permitted to issue entitlement orders and to give other instructions to the Paying Agent as expressly contemplated herein unless and until the Indenture Trustee revokes the Issuer and the Servicer’s
authority to give such instructions by written notice to the Paying Agent substantially in the form attached hereto as Exhibit D. Except as expressly provided in this Indenture and the Servicing Agreement, each of the Paying Agent and the
Servicer agrees that it shall have no right of setoff or banker’s lien against, and no right to otherwise deduct from, any financial asset credited to, any securities entitlement related to, any funds deposited in, or any other property held
in, the Trust Accounts for any amount owed to it by the Indenture Trustee, the Issuer or any Noteholder. Pursuant to the terms hereof and the terms of the Servicing Agreement, the Servicer shall instruct the Paying Agent to make withdrawals and
payments from the Trust Accounts for the purposes of carrying out the Servicer’s, the Issuer’s or the Paying Agent’s duties hereunder and under the Servicing Agreement. 

Section 4.03. Investment of Funds in the Trust Accounts. 

(a) Subject to Section 4.03(e), funds credited to the Trust Accounts will be invested and reinvested by the Paying
Agent at the written direction of the Issuer in one or more Permitted Investments. The Issuer may authorize the Paying Agent to make specific investments in Permitted Investments pursuant to written instructions, in such amounts as the Issuer will
specify. Notwithstanding the foregoing, funds held by the Paying Agent in any of the Trust Accounts will be invested in Permitted Investments that will mature in each case no later than one day prior to the date on which such funds in the Trust
Accounts are scheduled to be transferred or distributed by the Paying Agent pursuant to this Indenture (or as necessary to provide for timely payment of principal or interest on the applicable Principal Payment Date or Interest Payment Date). 

(b) All funds credited from time to time to the Trust Accounts pursuant to this Indenture and all investments made with such funds will be
held by the Paying Agent in the Trust Accounts on behalf of the Indenture Trustee as part of the Collateral as herein provided, subject to withdrawal by the Paying Agent for the purposes set forth herein. 

(c) Funds and other property in any of the Trust Accounts will not be commingled with any other funds or property of the Issuer, the Indenture
Trustee or the Paying Agent, and the Paying Agent shall: 
 (i) credit each Permitted Investment that is a security
entitlement to the applicable Trust Account; 

  
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 (ii) maintain the Indenture Trustee’s control, or maintain possession
on behalf of the Indenture Trustee, of each other Permitted Investment not described in clause (i) above (other than those described in clause (c) of the definition thereof) in the State of New York separate and apart from all other
property held by the Paying Agent; and 
 (iii) cause each Permitted Investment described in clause (c) of the
definition thereof to be registered in the name of the Paying Agent on behalf of the Indenture Trustee by the issuer thereof; 

provided, that, other than following an Event of Default and acceleration pursuant to Section 7.02, no
Permitted Investment shall be disposed of prior to its maturity. 
 Notwithstanding any other provision of this Indenture, the Paying Agent shall not hold
any Permitted Investment through an agent or nominee except as expressly permitted by this subsection 4.03(c). Each term used in this subsection 4.03(c) and defined in the New York UCC shall have
the meaning set forth in the New York UCC. 
 (d) On each Transfer Date, all Investment Earnings will be treated as Collections of Finance
Charge Receivables with respect to the immediately preceding Monthly Period and applied pursuant to Section 5.02(a) for such Transfer Date. On each Transfer Date, all amounts of Investment Earning on deposit in the Excess
Funding Account shall be withdrawn and deposited into the Collection Account. Unless otherwise stated in the related Indenture Supplement, for purposes of determining the availability of funds or the balance in the Trust Accounts for any reason
under this Indenture or any Indenture Supplement, Investment Earnings on such funds shall be deemed not to be available. 
 (e) Funds
credited to the Trust Accounts will be held uninvested if an Event of Default will have occurred and is continuing but no Notes have been declared due and payable pursuant to Section 7.02. 

  
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 ARTICLE V 

ALLOCATIONS, DEPOSITS AND PAYMENTS 

Section 5.01. Collections. The Issuer shall deposit, or cause to be deposited, all Collections received in
the Collection Account as promptly as possible after the Date of Processing of such Collections, but in no event later than the second Business Day following such Date of Processing. 

Section 5.02. Allocations to Noteholders; Allocations to Holder of the Transferor Interest. 

(a) The Issuer shall cause to be allocated amounts of Collections to each Series of Notes as provided in each Indenture Supplement. The Issuer
shall cause to be made such deposits or payments on the date indicated therein by wire transfer for any Series of Notes with respect to any Class or Tranche of such Series. For the avoidance of doubt, payments to be made hereunder by the Paying
Agent hereunder shall not be made via check issuances. 
 (b) (i) Unless otherwise stated in any Indenture Supplement, on each Date of
Processing, the Issuer shall allocate or cause to be allocated to the Holder of the Transferor Interest an amount equal to the product of (A) the Transferor Percentage with respect to Principal Receivables on such Date of Processing and
(B) the aggregate amount of Collections of Principal Receivables on such Date of Processing. Except as provided in subsection 5.02(b)(ii) or unless otherwise stated in any Indenture Supplement, the Issuer may cause to be withdrawn such
amounts from the Collection Account and may cause to be paid such amount to the Holder of the Transferor Interest on or after the date such amount is deposited into the Collection Account. 

(ii) Notwithstanding any provisions of this Article V to the contrary, any Collections in respect of Principal
Receivables allocated to the Holder of the Transferor Interest pursuant to subsection 5.02(b)(i) shall be (A) paid to the Holder of the Transferor Interest if, and only to the extent that, following such payment, the
Transferor Interest on such date would be greater than the Minimum Transferor Interest on such date, or (B) deposited into the Excess Funding Account and treated and applied as Unallocated Principal Collections (as such term is defined in any
related Indenture Supplement) and applied as provided in any applicable Indenture Supplement. On any Business Day following a Business Day on which amounts were deposited into the Excess Funding Account pursuant to clause (B) above, any amounts
remaining in the Excess Funding Account following the application of such amounts as Unallocated Principal Collections (as such term is defined in any related Indenture Supplement) pursuant to the terms of any applicable Indenture Supplement on such
Business Day, if any, shall be paid to the Holder of the Transferor Interest when, and only to the extent that, the Transferor Interest on such date would be greater than the Minimum Transferor Interest on such date (after giving effect to the
inclusion of all Receivables created on or prior to such Business Day and the 

  
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application of all payments of principal amounts to the Holder of the Transferor Interest including this payment pursuant to this subsection 5.02(c)). 

(c) Unless otherwise stated in any Indenture Supplement, on each Date of Processing, the Issuer shall cause to be allocated to the Holder of
the Transferor Interest an amount equal to the product of (A) the Transferor Percentage with respect to Finance Charge Receivables and (B) the aggregate amount of Collections of Finance Charge Receivables (excluding Interchange and
Investment Earnings) on such Date of Processing. Of the amounts allocable to the Holder of the Transferor Interest pursuant to this subsection 5.02(c), an amount equal to the amount identified in subsection 5.03(a)
shall be retained in the Collection Account for further allocation pursuant to subsection 5.03(b) and each applicable Indenture Supplement. The Issuer may cause to be withdrawn any amounts of Collections of Finance Charge Receivables
allocated to the Holder of the Transferor Interest pursuant to this subsection 5.02(c) that are in excess of the amounts identified in subsection 5.03(a) from the Collection Account and may cause to be paid such excess amounts directly
to the Holder of the Transferor Interest on or after the date such amount is deposited into the Collection Account. 
 Notwithstanding
anything herein or in any Indenture Supplement to the contrary, each of the parties hereto and any other Person bound by the terms of this Indenture hereby acknowledges that the Holder of the Transferor Interest is Funding on the date hereof and
that all payments to be made to the Holder of the Transferor Interest shall be made by wire transfer to the account of the Holder of the Transferor Interest in accordance with the wire instructions provided by such Holder to the Paying Agent;
provided, however, that, upon receipt by the Paying Agent of written notice (on which notice the Paying Agent may conclusively rely without further investigation) from the Registrar (as defined in the Trust Agreement) of a transfer or exchange of
all or any portion of the Transferor Interest (or any interest therein) pursuant to the Trust Agreement, to the extent the Paying Agent is provided with all necessary tax information and wire instructions by the new Holder not later than the close
of business on the third Business Day preceding the applicable date of payment following such transfer or exchange, the Paying Agent shall make such payment and all future payments to such new Person or Persons unless, if at all, notified by the
Registrar (as defined in the Trust Agreement) of any subsequent transfers or exchanges of the Transferor Interest (or any interest therein); provided, further, that it is hereby acknowledged and agreed that the Paying Agent has no responsibility at
any time for identifying or verifying the Holder of the Transferor Interest but shall rely in all instances on the Holder of the Transferor Interest being Funding as provided herein or any other Person or Persons of which it is given written notice
in accordance with the preceding proviso. 
 Section 5.03. Collections of Finance Charge Receivables Allocable
to the Segregated Transferor Interest. The Issuer shall from time to time notify the Transferor, the Servicer and the Paying Agent, as applicable, of the existence of a prefunding target amount and of the amount of the Transferor Interest that
is to be the Segregated Transferor Interest in an amount equal to the prefunded amounts on deposit in the Principal Funding sub-Accounts for any series of Notes. Prior to the close of business on any Date of
Processing of any Collections during the Monthly Period in which such notice was given, from and after the date of such notice through the end of such Monthly Period, the Issuer will: 

  
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 (a) allocate to the Segregated Transferor Interest the aggregate amount of all Collections
of Finance Charge Receivables allocable to the Segregated Transferor Interest with respect to such Date of Processing, and 
 (b) on the
Transfer Date relating to such Monthly Period, the Issuer will cause to be withdrawn from the Collection Account the amount allocated to the Segregated Transferor Interest pursuant to subsection 5.03(a) above and (i) cause to be
deposited into the applicable interest funding account (for further application as set forth in each applicable Indenture Supplement), an amount equal to the lesser of (x) the aggregate amount allocated to the Segregated Transferor Interest
pursuant to subsection 5.03(a) above, and (y) the aggregate amount of all PFA Prefunding Earnings Shortfalls for all Tranches of Notes with respect to all Series for such Monthly Period and (ii) pay to the Holder of the Transferor
Interest an amount equal to any amounts remaining after such deposits. 
 Section 5.04. Deposit of
Reassignment Amount Pursuant to Subsection 2.04(e) of the Transfer Agreement. To the extent the Transferor pays the Reassignment Amount if and when required pursuant to subsection 2.04(e) of the Transfer Agreement, such Reassignment
Amount shall be promptly deposited into the Collection Account. Of such amount, an amount equal to the portion of the Reassignment Amount determined pursuant to clause (a) of such definition will be treated as Collections of Principal
Receivables and the portion of the Reassignment Amount determined pursuant to clauses (b) and (c) of such definition will be treated as Collections of Finance Charge Receivables. Such amounts will be considered Collections relating to the
Monthly Period immediately preceding the Reassignment Date and allocated to each Series, Class and Tranche of Notes as specified in each Indenture Supplement for distribution to the Noteholders on the Reassignment Date. 

Section 5.05. Final Payment. Each Tranche of Notes will be considered to be paid in full, the Holders of such
Tranche of Notes will have no further right or claim, and the Issuer will have no further obligation or liability with respect to such Tranche of Notes, on the earliest to occur of: 

(a) the date of the payment in full of the Stated Principal Amount of and all accrued interest on that Tranche of Notes; 

(b) the date on which the Outstanding Dollar Principal Amount of such Notes, after giving effect to all deposits, allocations, reallocations,
sales of Receivables and payments to be made on such date, is reduced to zero, and all accrued interest on such Notes is paid in full; or 

(c) on the Legal Maturity Date of such Notes, after giving effect to all deposits, allocations, reallocations, sales of Receivables and
payments to be made on such date. 
 Section 5.06. Payments within a Series, Class or
Tranche. All payments of principal, interest or other amounts to Holders of the Notes of a Series, Class or Tranche will be made in accordance with the related Indenture Supplement. 

  
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 Section 5.07. Notice of Allocations and Disbursements. For
the avoidance of doubt, in no event shall the Paying Agent be responsible for (x) determining or calculating with respect to a Series, Class or Tranche of Notes) amounts to be (i) allocated (including amounts to be reallocated)
pursuant to any Transaction Document or (ii) paid or disbursed to Noteholders, the Holder of the Transferor Interest, any Derivative Counterparty or any other Person pursuant to any Transaction Document or (y) determining whether the
conditions precedent to such allocation, payment or disbursement have been satisfied. 
 The Servicer shall make or cause to be made all allocations,
payments and disbursements, and the calculations and determinations required therefor, on behalf of the Issuer as is required to be made by the Issuer under the terms of this Indenture, the Indenture Supplement or the Terms Document. The Servicer
shall instruct the Paying Agent in writing to credit funds to or to disburse funds from any Trust Account under any Transaction Document. The foregoing instruction shall be in the form satisfactory to the Paying Agent and (x) except with
respect to payment instructions relating to disbursements to be made to the Holder of the Transferor Interest, shall be delivered no later than the close of business on the second Business Day preceding the date such funds are to be credited to or
disbursed from a Trust Account and (y) with respect to payment instructions relating to disbursements to be made to the Holder of the Transferor Interest, shall be delivered no later than 3:00pm on the day the related disbursement to the Holder
of the Transferor Interest is to be made. The Paying Agent shall only be obligated to make deposits, disbursements or payments from any Trust Account to the extent it receives such instruction from the Servicer and to the extent such amounts are
available therefor. 
 ARTICLE VI 

SATISFACTION AND DISCHARGE; 

CANCELLATION OF NOTES HELD BY THE ISSUER 

Section 6.01. Satisfaction and Discharge of Indenture. This Indenture will cease to be of further effect with
respect to any Series, Class or Tranche of Notes (except as to any surviving rights of transfer or exchange of Notes of that Series, Class or Tranche expressly provided for herein or in the form of Note for that Series, Class or
Tranche), and the Indenture Trustee, on demand of and at the expense of the Issuer, will execute proper instruments acknowledging satisfaction and discharge of this Indenture as to that Series, Class or Tranche, when: 

(a) all Notes of that Series, Class or Tranche theretofore authenticated and delivered (other than (A) Notes of that Series,
Class or Tranche which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06, and (B) Notes of that Series, Class or Tranche for whose payment money has
theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from that trust, as provided in Section 11.03) have been delivered to the Note Registrar
canceled or for cancellation; 

  
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 (b) the Issuer has paid or caused to be paid all other sums payable hereunder (including
payments to the Indenture Trustee pursuant to Section 8.07 and the Paying Agent and the Note Registrar pursuant to Section 17.02) by the Issuer with respect to the Notes of that Series,
Class or Tranche; and 
 (c) the Issuer has delivered to the Indenture Trustee, the Paying Agent and the Note Registrar an
Officer’s Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to the Notes of that Series, Class or Tranche have
been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture with respect to any Series, Class or Tranche of Notes, the
obligations of the Issuer to the Indenture Trustee with respect to that Series, Class or Tranche under Section 8.07 and to the Paying Agent and the Note Registrar with respect to that Series, Class or Tranche
under Section 17.02 and the obligations of the Paying Agent under Sections 6.02 and 11.03 will survive such satisfaction and discharge. 

Section 6.02. Application of Trust Money. All money and obligations deposited with the Paying Agent pursuant
to Section 4.01 or Section 4.03 and all money received by the Paying Agent in respect of such obligations will be held in trust and applied by it, in accordance with the provisions of the Series,
Class or Tranche of Notes in respect of which it was deposited and this Indenture, to the payment to the Persons entitled thereto, of the principal and interest for whose payment that money and obligations have been deposited with or received
by the Paying Agent; but that money and obligations need not be segregated from other funds held by the Paying Agent except to the extent required by law. 

Section 6.03. Cancellation of Notes Held by the Issuer. If the Issuer or any of its Affiliates holds any
Notes, the Issuer may by notice from such Holder to the Note Registrar cause that Note to be canceled, whereupon (a) the Note will no longer be Outstanding; provided, that, no Note shall be so cancelled prior to its Legal Maturity Date
unless, following that cancellation, as determined by the Issuer, the available subordinated amount of such Class of Notes is at least equal to the Required Subordinated Amount of such Class of Notes with respect to each of the more senior
Class or Classes of Notes. 

  
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 ARTICLE VII 

EVENTS OF DEFAULT AND REMEDIES 

Section 7.01. Events of Default. “Event of Default,” wherever used herein, means with
respect to any Series, Class or Tranche of Notes any one of the following events (whatever the reason for such Event of Default and whether it will be voluntary or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any administrative or governmental body), unless such event is either expressly stated to be inapplicable to a particular Series, Class or Tranche or specifically deleted or
modified in the applicable Indenture Supplement creating such Series, Class or Tranche of Notes or in the form of Note for such Series, Class or Tranche: 

(a) with respect to any Tranche of Notes, a default by the Issuer in the payment of any interest on such Notes when such interest becomes due
and payable, and continuance of such default for a period of thirty-five (35) days following the date on which such interest became due and payable; 

(b) with respect to any Tranche of Notes, a default by the Issuer in the payment of the principal amount of such Notes at the applicable Legal
Maturity Date; 
 (c) a default in the performance, or breach, of any covenant or warranty of the Issuer in this Indenture in respect of the
Notes of such Series, Class or Tranche (other than a covenant or warranty in respect of the Notes of such Series, Class or Tranche a default in the performance of which or the breach of which is elsewhere in this
Section 7.01 specifically dealt with), all of such covenants and warranties in this Indenture which are not expressly stated to be for the benefit of a particular Series, Class and Tranche of Notes being deemed to be
in respect of the Notes of all Series, Classes or Tranches for this purpose, and continuance of such default or breach for a period of sixty (60) days after there has been given, by registered or certified mail, to the Issuer by the Indenture
Trustee or to the Issuer and the Indenture Trustee by the Holders of at least 25% in Outstanding Dollar Principal Amount of the Outstanding Notes of such Series, Class or Tranche, a written notice specifying such default or breach and requiring
it to be remedied and stating that such notice is a “Notice of Default” hereunder and, as a result of such default, the interests of the Holders of the Notes of such Series, Class or Tranche are materially and adversely affected and
continue to be materially and adversely affected during the sixty (60) day period; 
 (d) an Insolvency Event with respect to the
Issuer shall occur; or 
 (e) with respect to any Series, Class or Tranche, any additional Event of Default specified in the Indenture
Supplement for such Series, Class or Tranche as applying to such Series, Class or Tranche, or specified in the form of Note for such Series, Class or Tranche. 

  
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 Section 7.02. Acceleration of Maturity; Rescission and
Annulment. 
 (a) If an Event of Default described in clause (a), (b), (c) or (e) (if the Event of Default under clause (c) or
(e) is with respect to less than all Series, Classes and Tranches of Notes then Outstanding) of Section 7.01 occurs and is continuing with respect to any Series, Class or Tranche, then and in each and every such
case, unless the principal of all the Notes of such Series, Class or Tranche shall have already become due and payable, either the Indenture Trustee or Holders of not less than 66 2/3% in Outstanding Dollar Principal Amount of the Notes of such
Series, Class or Tranche then Outstanding hereunder (each such Series, Class or Tranche acting as a separate Class), by notice in writing to the Issuer (and to the Indenture Trustee if given by such Holders), may declare the Outstanding
principal amount of all the Notes of such Series, Class or Tranche then Outstanding and all interest accrued or principal accreted and unpaid (if any) thereon to be due and payable immediately, and upon any such declaration the same will become
and will be immediately due and payable, anything in this Indenture, the related Indenture Supplement or in the Notes of such Series, Class or Tranche to the contrary notwithstanding. Such payments are subject to
Article V, Section 7.06 and the allocation, deposits and payment sections of the related Indenture Supplement. 

(b) If an Event of Default described in clause (c) or (e) (if the Event of Default under clause (c) or (e) is with respect to
all Series, Classes and Tranches of Notes then Outstanding) of Section 7.01 occurs and is continuing, then and in each and every such case, unless the principal of all the Notes shall have already become due and payable,
either the Indenture Trustee or Holders of not less than 66 2/3% in Outstanding Dollar Principal Amount of all the Notes then Outstanding hereunder (treated as one Class), by notice in writing to the Issuer (and to the Indenture Trustee if given by
such Holders), may declare the Outstanding principal amount of all the Notes then Outstanding and all interest accrued or principal accreted and unpaid (if any) thereon to be due and payable immediately, and upon any such declaration the same will
become and will be immediately due and payable, notwithstanding anything in this Indenture, the related Indenture Supplements or the Notes to the contrary. 

(c) If an Event of Default described in clause (d) of Section 7.01 occurs and is continuing, then the Notes of
all Series, Classes and Tranches will automatically be and become immediately due and payable by the Issuer, without notice or demand to any Person, and the Issuer will automatically and immediately be obligated to pay off the Notes. 

At any time after such a declaration of acceleration has been made with respect to the Notes of any Series, Class or Tranche and before a judgment or
decree for payment of the money due has been obtained by the Indenture Trustee as hereinafter in this Article VII provided, the Majority Holders of such Series, Classes or Tranche, by written notice to the Issuer and the
Indenture Trustee, may rescind and annul such declaration and its consequences if: 
 (i) the Issuer has paid or deposited
with the Indenture Trustee (or the Paying Agent on its behalf) a sum sufficient to pay (i) all overdue installments of interest on the Notes of such Series, Class or Tranche, (ii) the principal of any Notes of such Series,
Class or Tranche which have become due otherwise than by such declaration of acceleration, and interest thereon at the rate or rates prescribed therefor by the terms of 

  
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the Notes of such Series, Class or Tranche, to the extent that payment of such interest is lawful, (iii) interest upon overdue installments of interest at the rate or rates prescribed
therefor by the terms of the Notes of such Series, Class or Tranche to the extent that payment of such interest is lawful, and (iv) all sums paid by the Indenture Trustee, the Paying Agent and the Note Registrar hereunder and the
reasonable compensation, expenses, indemnities and disbursements of (x) the Indenture Trustee, its agents and counsel and all other amounts due the Indenture Trustee under Section 8.07 and (y) the Paying Agent and
the Note Registrar under Section 17.02;and 
 (ii) all Events of Default with respect to such
Series, Class or Tranche of Notes, other than the nonpayment of the principal of the Notes of such Series, Class or Tranche which has become due solely by such acceleration, have been cured or waived as provided in
Section 7.16. 
 No such rescission will affect any subsequent default or impair any right consequent thereon.

 Section 7.03. Collection of Indebtedness and Suits for Enforcement by Indenture Trustee. The Issuer
covenants that if: 
 (a) the Issuer defaults in the payment of interest on any Series, Class or Tranche of Notes when such interest
becomes due and payable and such default continues for a period of thirty-five (35) days following the date on which such interest became due and payable, or 

(b) the Issuer defaults in the payment of the principal of any Series, Class or Tranche of Notes at the Legal Maturity Date thereof; 

and any such default continues beyond any specified grace period provided with respect to such Series, Class or Tranche of Notes, the Issuer will, upon
demand of the Indenture Trustee, pay (subject to the allocation provided in Article V, this Article VII and any related Indenture Supplement) to the Indenture Trustee (or the Paying Agent on its
behalf), for the benefit of the Holders of any such Notes of the affected Series, Class or Tranche, the whole amount then due and payable on any such Notes for principal and interest, with interest, to the extent that payment of such interest
will be legally enforceable, upon the overdue principal and upon overdue installments of interest, (i) in the case of Interest-bearing Notes, at the rate of interest applicable to the stated principal amount thereof, unless otherwise specified
in the applicable Indenture Supplement; and (ii) in the case of Discount Notes, as specified in the applicable Indenture Supplement, and in addition thereto, will pay such further amount as will be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, indemnities, disbursements and advances of (x) the Indenture Trustee, its agents and counsel and all other amounts due the Indenture Trustee under Section 8.07
and (y) the Paying Agent and the Note Registrar, its agents and counsel and all other amounts due the Paying Agent and the Note Registrar under Section 17.02. 

  
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 If the Issuer fails to pay such amounts forthwith upon such demand, the Indenture Trustee,
in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Issuer or
any other obligor upon the Notes of such Series, Class or Tranche and collect the money adjudged or decreed to be payable in the manner provided by law out of the Collateral or any other obligor upon such Notes, wherever situated. 

Section 7.04. Indenture Trustee May File Proofs of Claim. In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Issuer or any other obligor upon the Notes or the property of the Issuer or of such other obligor or their
creditors, the Indenture Trustee (irrespective of whether the principal of the Notes will then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Indenture Trustee will have made any demand on the
Issuer for the payment of overdue principal or interest) will be entitled and empowered, by intervention in such proceedings or otherwise, 

(i) to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect of the Notes and to file such other
papers or documents as may be necessary and advisable in order to have the claims of (x) the Indenture Trustee (including any claim for the reasonable compensation, expenses, indemnities, disbursements and advances of the Indenture Trustee, its
agents and counsel and all other amounts due the Indenture Trustee under Section 8.07) and (y) the Paying Agent and the Note Registrar (including any claim for the reasonable compensation, expenses, indemnities,
disbursements and advances of each of the Paying Agent and the Note Registrar, each of its agents and counsel and all other amounts due the Paying Agent and the Note Registrar under Section 17.02) and of the Noteholders
allowed in such judicial proceeding, and 
 (ii) to collect and receive any funds or other property payable or deliverable on any such
claims and to distribute the same; 
 and any receiver, assignee, trustee, liquidator, sequestrator (or other similar official) in any such judicial
proceeding is hereby authorized by each Noteholder to make such payment to the Indenture Trustee and in the event that the Indenture Trustee will consent to the making of such payments directly to the Noteholders, to pay to (x) the Indenture
Trustee any amount due to it for the reasonable compensation, expenses, indemnities, disbursements and advances of the Indenture Trustee, its agents and counsel, and any other amounts due the Indenture Trustee under
Section 8.07 and (y) each of the Paying Agent and the Note Registrar any amount due to it for the reasonable compensation, expenses, indemnities, disbursements and advances of the Paying Agent and the Note Registrar,
each of its agents and counsel and all other amounts due the Paying Agent and the Note Registrar under Section 17.02. 

Nothing herein contained will be deemed to authorize the Indenture Trustee to authorize or consent to or accept or adopt on behalf of any
Noteholder any plan or reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any 

  
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Holder thereof, or to authorize the Indenture Trustee to vote in respect of the claim of any Noteholder in any such proceeding. 

Section 7.05. Indenture Trustee May Enforce Claims Without Possession of Notes. All rights of action and
claims under this Indenture or the Notes of any Series, Class or Tranche may be prosecuted and enforced by the Indenture Trustee without the possession of any of the Notes of such Series, Class or Tranche or the production thereof in any
proceeding relating thereto, and any such proceeding instituted by the Indenture Trustee will be brought in its own name as trustee of an express trust, and any recovery of judgment will, after provision for the payment of the reasonable
compensation, expenses, disbursements and advances of the Indenture Trustee, its agent and counsel, be for the ratable benefit of the Holders of the Notes of the Series, Class or Tranche in respect of which such judgment has been recovered.

 Section 7.06. Application of Money Collected. Any money or other property collected by the Indenture
Trustee with respect to a Series, Class or Tranche of Notes pursuant to this Article VII will be applied by the Paying Agent in the following order, at the date or dates and amounts fixed by the Indenture Trustee and,
in case of the distribution of such money on account of principal or interest, upon presentation of the Notes of such Series, Class or Tranche and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid: 
 (a) first, pro rata, to the payment of all amounts due the Indenture Trustee under
subsection 8.07(a) and to the Paying Agent and the Note Registrar under Section 17.02 and in each case, pursuant to any other Transaction Documents; 

(b) second, to the payment of the amounts then due and unpaid upon the Notes of that Series, Class or Tranche for principal and interest,
in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind (but subject to the allocation provided in Article V of this Indenture and the related
Indenture Supplements), according to the amounts due and payable on such Notes for principal and interest, respectively; and 
 (c) third,
to the Issuer. 
 Section 7.07. Indenture Trustee May Elect to Hold the Collateral. Following an
acceleration of any Series, Class or Tranche of Notes, the Indenture Trustee may elect to continue to hold the Collateral and apply distributions on the Collateral in accordance with the regular distribution provisions pursuant to
Article V of this Indenture, except that principal will be paid on the accelerated Tranche of Notes to the extent funds are received from the Collateral and allocated to the accelerated Tranche, and payment is permitted by
the subordination provisions of the accelerated Tranche. 
 Section 7.08. Sale of Receivables for Accelerated
Notes. In the case of a Series, Class or Tranche of Notes that has been accelerated following an Event of Default, the Indenture Trustee may, and at the direction of Holders of not less than 66 2/3% in Outstanding Dollar Principal Amount of
that Series, Class or Tranche of Notes will, sell Principal Receivables and 

  
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the related Finance Charge Receivables (or interests therein) as provided in the related Indenture Supplement. 

Section 7.09. Noteholders Have the Right to Direct the Time, Method and Place of Conducting Any Proceeding for
Any Remedy Available to the Indenture Trustee. Holders of not less than 66 2/3% in Outstanding Dollar Principal Amount of any accelerated Series, Class or Tranche of Notes have the right to direct the time, method and place of conducting
any proceeding for any remedy available to the Indenture Trustee under this Article VII, or, except as provided in Section 14.06, exercising any trust or power conferred on the Indenture Trustee; provided,
however, subject to Section 8.01, the Indenture Trustee shall have the right to decline any such direction if (a) the Indenture Trustee, after being advised by counsel, determines that the action so directed is in conflict with any
rule or law or with this Indenture, (b) the Indenture Trustee, in good faith, shall determine, by a Responsible Officer of the Indenture Trustee, determine that the direction would be illegal or would involve the Indenture Trustee in personal
liability or would be unjustly prejudicial; or (c) the Indenture Trustee reasonably believes it will not be adequately indemnified against the costs, expenses and liabilities which might be incurred by it in complying with the action so
directed. 
 Section 7.10. Limitation on Suits. Except with respect to any arbitration or mediation
provided for under the dispute resolution provisions in Section 2.10 of the Transfer Agreement and Section 6.03 of the Receivables Purchase Agreement, to the fullest extent permitted by applicable law, no Holder of any Note of any Series,
Class or Tranche will have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 

(a) such Holder has previously given written notice to the Indenture Trustee of a continuing Event of Default with respect to Notes of such
Series, Class or Tranche; 
 (b) the Holders of not less than 25% in Outstanding Dollar Principal Amount of the Outstanding Notes of
such Series, Class or Tranche have made written request to the Indenture Trustee to institute proceedings in respect of such Event of Default in its own name as Indenture Trustee hereunder; 

(c) such Holder or Holders have offered to the Indenture Trustee indemnity reasonably satisfactory to it against the costs, expenses and
liabilities to be incurred in compliance with such request; 
 (d) the Indenture Trustee for sixty (60) days after its receipt of such
notice, request and offer of indemnity has failed to institute any such proceeding; and 
 (e) no direction inconsistent with such written
request has been given to the Indenture Trustee during such sixty (60) day period by the Majority Holders of such Series, Class or Tranche; 
 it
being understood and intended that no one or more Holders of Notes of such Series, Class or Tranche will have any right in any manner whatever by virtue of, or by availing of, any 

  
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provision of this Indenture to affect, disturb or prejudice the rights of any other Holders of Notes of such Series, Class or Tranche, or to obtain or to seek to obtain priority or
preference over any other such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and proportionate benefit of all the Holders of all Notes of such Series, Class or Tranche. 

Section 7.11. Unconditional Right of Noteholders to Receive Principal and Interest; Limited Recourse.
Notwithstanding any other provisions in this Indenture, the Holder of any Note will have the right, which is absolute and unconditional, to receive payment of the principal of and interest on such Note on the Legal Maturity Date expressed in the
related Indenture Supplement and to institute suit for the enforcement of any such payment, and such right will not be impaired without the consent of such Holder; provided, however, that notwithstanding any other provision of this
Indenture to the contrary, the obligation to pay principal of or interest on the Notes or any other amount payable to any Noteholder will be without recourse to the Beneficiary, the Transferor, the Servicer, WFBNA, the Indenture Trustee, the Paying
Agent, the Note Registrar, the Owner Trustee (including with respect to the Indenture Trustee, the Paying Agent, the Note Registrar and the Owner Trustee, each in their individual capacities) or any affiliate, officer, employee or director of any of
them, and the obligation of the Issuer to pay principal of or interest on the Notes or any other amount payable to any Noteholder will be subject to Article V and the allocation and payment provisions of the Indenture
Supplements. 
 Section 7.12. Restoration of Rights and Remedies. If the Indenture Trustee or any
Noteholder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, then and in every such case the Issuer, the Indenture Trustee and the Noteholders
will, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Indenture Trustee and the Noteholders will continue as though no such
proceeding had been instituted. 
 Section 7.13. Rights and Remedies Cumulative. No right or remedy herein
conferred upon or reserved to the Indenture Trustee or to the Noteholders is intended to be exclusive of any other right or remedy, and every right and remedy will, to the extent permitted by law, be cumulative and in addition to every other right
and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or employment of any other appropriate
right or remedy. 
 Section 7.14. Delay or Omission Not Waiver. No delay or omission of the Indenture
Trustee or of any Holder of any Note to exercise any right or remedy accruing upon any Event of Default will impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given
by this Article VII or by law to the Indenture Trustee or to the Noteholders may be exercised from time to time, and as often as may be deemed expedient, by the Indenture Trustee or by the Noteholders, as the case may be. 

  
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 Section 7.15. Control by Noteholders. Holders of not less
than 66 2/3% in Outstanding Dollar Principal Amount of any Series, Class or Tranche will have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Indenture Trustee in this Article VII or,
except as provided in Section 14.06, exercising any trust or power conferred on the Indenture Trustee with respect to the Notes of such Series, Class or Tranche, and the Majority Holders of all Series will have the
right to direct the Indenture Trustee with respect to any actions the Indenture Trustee is to take pursuant to Section 2.10 of the Transfer Agreement and Section 6.03 of the Receivables Purchase
Agreement, provided, that: 
 (a) the Indenture Trustee will have the right to decline to follow any such direction if the Indenture
Trustee, being advised by counsel, determines that the action so directed may not lawfully be taken or would conflict with this Indenture or if the Indenture Trustee in good faith will, by a Responsible Officer of the Indenture Trustee, determine
that the proceedings so directed would involve it in personal liability or be unjustly prejudicial to the Noteholders not taking part in such direction, and 

(b) the Indenture Trustee may take any other action permitted hereunder deemed proper by the Indenture Trustee which is not inconsistent with
such direction. 
 Section 7.16. Waiver of Past Defaults. The Majority Holders of any Series, Class or
Tranche may on behalf of the Holders of all the Notes of such Series, Class or Tranche waive any past default hereunder or under the related Indenture Supplement with respect to such Series, Class or Tranche and its consequences, except a
default not theretofore cured: 
 (a) in the payment of the principal of or interest on any Note of such Series, Class or Tranche, or

 (b) in respect of a covenant or provision hereof which under Article X cannot be modified or amended without
the consent of the Holder of each Outstanding Note of such Series, Class or Tranche. 
 Upon any such waiver, such default will cease
to exist, and any Event of Default arising therefrom will be deemed to have been cured, for every purpose of this Indenture; but no such waiver will extend to any subsequent or other default or impair any right consequent thereon. 

Section 7.17. Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Note by his
acceptance thereof will be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Indenture Trustee, the Paying Agent or the Note
Registrar, as applicable, for any action taken or omitted by it as Indenture Trustee, the Paying Agent or the Note Registrar, as applicable, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such
court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section 7.17 will not apply to any suit instituted by the Indenture Trustee, the 

  
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Paying Agent or the Note Registrar, as applicable, to any suit instituted by any Noteholder, or group of Noteholders, holding in the aggregate more than 25% in Outstanding Dollar Principal Amount
of the Outstanding Notes of any Series, Class or Tranche to which the suit relates, or to any suit instituted by any Noteholders for the enforcement of the payment of the principal of or interest on any Note on or after the applicable Legal
Maturity Date expressed in such Note. 
 Section 7.18. Waiver of Stay or Extension Laws. The Issuer
covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter
in force, which may affect the covenants or the performance of this Indenture; and the Issuer (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay
or impede the execution of any power herein granted to the Indenture Trustee, Paying Agent or Note Registrar, but will suffer and permit the execution of every such power as though no such law had been enacted. 

  
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 ARTICLE VIII 

THE INDENTURE TRUSTEE 

Section 8.01. Certain Duties and Responsibilities. 

(a) The Indenture Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture with respect
to the Notes of any Series, Class or Tranche, and no implied covenants or obligations will be read into this Indenture against the Indenture Trustee. 

(b) In the absence of bad faith on its part, the Indenture Trustee may, with respect to Notes of any Series, Class or Tranche,
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Indenture Trustee and conforming to the requirements of this Indenture; but in the case of any
such certificates or opinions which by any provision hereof are specifically required to be furnished to the Indenture Trustee, the Indenture Trustee will be under a duty to examine the same to determine whether or not they conform to the
requirements of this Indenture but need not confirm or investigate the accuracy of any mathematical calculations or other facts stated therein. 

(c) In case an Event of Default with respect to any Series, Class or Tranche of Notes has occurred and is continuing, and the Indenture
Trustee has actual knowledge or a Responsible Officer of the Indenture Trustee shall have received written knowledge of such Event of Default, the Indenture Trustee will exercise with respect to the Notes of such Series, Class or Tranche such
of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(d) No provision of this Indenture will be construed to relieve the Indenture Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that: 
 (i) this clause (d) will not be construed to
limit the effect of subsection (a) of this Section 8.01; 
 (ii) the
Indenture Trustee will not be liable for any error of judgment made in good faith by a Responsible Officer of the Indenture Trustee, unless it will be proved that the Indenture Trustee was negligent in ascertaining the pertinent facts; 

(iii) the Indenture Trustee will not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the Majority Holders of any Series, Class or Tranche relating to the time, method and place of conducting any proceeding for any remedy available to the Indenture Trustee, or

  
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exercising any trust or power conferred upon the Indenture Trustee, under this Indenture with respect to the Notes of such Series, Class or Tranche; and 

(iv) no provision of this Indenture will require the Indenture Trustee to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it will have reasonable grounds for believing that repayment of such funds or indemnity satisfactory to the Indenture
Trustee against such risk or liability is not reasonably assured to it; 
 (v) the Indenture Trustee shall have no
responsibility or liability for investment losses on Permitted Investments. The Indenture Trustee shall have no obligation, to invest or reinvest, or direct the investment or reinvestment by the Paying Agent of, any funds credited to the Trust
Accounts in the absence of timely and specific written investment direction from the Issuer. In no event shall the Indenture Trustee be liable for the selection of investments or for losses incurred thereon. The Indenture Trustee shall have no
liability in respect of losses incurred as a result of liquidation of any investment prior to its stated maturity or the failure of the Issuer to provide timely written investment direction. 

(vi) for all purposes under this Indenture, the Indenture Trustee shall not be deemed to have notice or knowledge of any Event
of Default until a Responsible Officer of the Indenture Trustee has actual knowledge thereof or a Responsible Officer of the Indenture Trustee has received written notice thereof at its Corporate Trust Office which states that it is a notice of
Event of Default. For purposes of determining the Indenture Trustee’s responsibility or liability hereunder, any reference to an Event of Default shall be construed only to refer to such event of which Indenture is deemed to have notice as
described in this subsection 8.01(d)(vi); and 
 (vii) except as may be required by subsection 11.01(a), the Indenture
Trustee shall not be required to make any initial or periodic examination of any documents or records related to the Receivables or the Accounts for the purpose of establishing the presence or absence of defects, the compliance by the Transferor
with its representations and warranties or for any other purpose. 
 (e) Whether or not therein expressly so provided, every provision of
this Indenture relating to the conduct or affecting the liability of or affording protection to the Indenture Trustee will be subject to the provisions of this Section 8.01. 

Section 8.02. Notice of Defaults. Within thirty (30) days after a Responsible Officer of the Indenture
Trustee has actual knowledge of the occurrence of any Event of Default hereunder with respect to Notes of any Series, Class or Tranche, 

(a) the Indenture Trustee will transmit (x) by mail to all Registered Noteholders of such Series, Class or Tranche, as their names
and addresses appear in the Note 

  
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Register, and (y) in accordance with Section 1.05, to the Paying Agent and the Note Registrar, notice of such Event of Default hereunder known to the Indenture Trustee and 

(b) the Indenture Trustee will give prompt written notification thereof to the Note Rating Agencies, unless such Event of Default will have
been cured or waived; 
 provided, however, that, except in the case of an Event of Default in the payment of the principal of or interest on
any Note of such Series, Class or Tranche, the Indenture Trustee will be protected in withholding such notice if and so long as a Responsible Officer of the Indenture Trustee in good faith determines that the withholding of such notice is in
the interests of the Noteholders of such Series, Class or Tranche. 
 Section 8.03. Certain Rights of
Indenture Trustee. Except as otherwise provided in Section 8.01: 
 (a) the Indenture Trustee may conclusively
rely and will be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document (whether in its original
or facsimile form) believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) any request or
direction of the Issuer mentioned herein will be sufficiently evidenced by an Officer’s Certificate; 
 (c) whenever in the
administration of this Indenture the Indenture Trustee will deem it desirable that a matter be proved or established before taking, suffering or omitting any action hereunder, the Indenture Trustee (unless other evidence be herein specifically
prescribed) may, in the absence of bad faith on its part, rely upon an Officer’s Certificate; 
 (d) the Indenture Trustee may consult
with counsel, accountants and experts of its own selection and the advice of such counsel, accountants or experts or any Opinion of Counsel will be full and complete authorization and protection in respect of any action taken, suffered or omitted by
it hereunder in good faith and in reliance thereon; 
 (e) the Indenture Trustee will be under no obligation to exercise any of the rights
or powers vested in it by this Indenture, or to institute, conduct or defend any litigation hereunder or in relation hereto, or institute or conduct any proceeding (including, but without limitation, any arbitration or mediation provided for under
the dispute resolution provisions in Section 2.10 of the Transfer Agreement and Section 6.03 of the Receivables Purchase Agreement), at the request or direction of any of the Noteholders pursuant
to this Indenture, unless such Noteholders (in all cases other than those specified in Section 14.06) or the Servicer (in cases specified in Section 14.06) shall have offered to the Indenture
Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 

  
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 (f) the Indenture Trustee will not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document, but the Indenture Trustee, in its discretion, may make such further
inquiry or investigation into such facts or matters as it may see fit, and, if the Indenture Trustee will determine to make such further inquiry or investigation, it will be entitled to examine the books, records and premises of the Issuer,
personally or by agent or attorney; 
 (g) the Indenture Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Indenture Trustee will not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

(h) the Indenture Trustee shall not be responsible or liable for punitive, special, indirect, or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Indenture Trustee has been advised of the likelihood of such loss or damage and regardless of the form of actions; 

(i) the Indenture Trustee shall not be required to give any bond or surety in respect of the execution of the trusts and powers under this
Indenture; 
 (j) any permissive right of the Indenture Trustee to take or refrain from taking actions enumerated in this Indenture shall
not be construed as a duty; 
 (k) the Indenture Trustee shall not be responsible or liable for any failure or delay in the performance of
its obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other military
disturbances; sabotage; epidemics or pandemics; riots; interruptions; loss or malfunction of utilities, computer (hardware or software) or communication services; accidents; labor disputes; and acts of civil or military authorities and governmental
action; 
 (l) the Indenture Trustee shall not be liable for any actions taken, suffered or omitted by it in good faith and believed by it
to be authorized or within the rights conferred upon the Indenture Trustee by this Indenture; and 
 (m) the Indenture Trustee will not be
responsible for filing any financing statements or continuation statements in connection with the Notes, but will cooperate with the Issuer in connection with the filing of such financing statements or continuation statements. 

(n) the Indenture Trustee shall not be required to take any action hereunder if it shall have reasonably determined, or shall have been
advised by its counsel, that, subject to subsection 8.03(e), such action is likely to result in liability on the part of the Indenture Trustee or is contrary to the terms hereof or any other Transaction Document to which it is a party or is
not in accordance with applicable laws. 

  
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 Section 8.04. Not Responsible for Recitals or Issuance of
Notes. The recitals contained herein and in the Notes, except the certificates of authentication, will be taken as the statements of the Issuer, and the Indenture Trustee assumes no responsibility for their correctness. The Indenture Trustee
makes no representations as to the validity or sufficiency of this Indenture or of the Notes. The Indenture Trustee will not be accountable for the use or application by the Issuer of Notes or the proceeds thereof. 

Section 8.05. May Hold Notes. The Indenture Trustee, the Paying Agent, the Note Registrar or any other agent
of the Issuer, in its individual or any other capacity, may become the owner or pledgee of Notes and, subject to Sections 8.08 and 8.13, may otherwise deal with the Issuer with the same rights it would have if it
were not Indenture Trustee, Paying Agent, Note Registrar or such other agent. 
 Section 8.06. Money Held in
Trust. Money held by the Paying Agent in trust hereunder need not be segregated from other funds except to the extent required by law. The Paying Agent will be under no liability for interest on any money received by it hereunder except as
otherwise agreed with the Issuer. 
 Section 8.07. Compensation and Reimbursement, Limit on Compensation,
Reimbursement and Indemnity. 
 (a) The Issuer agrees 

(i) to pay to the Indenture Trustee from time to time reasonable compensation for all services rendered by it hereunder (which
compensation will not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(ii) except as otherwise expressly provided herein, to reimburse the Indenture Trustee upon its request for all reasonable
expenses, disbursements and advances incurred or made by the Indenture Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel), except
any such expense, disbursement or advance as may be attributable to its negligence, bad faith or willful misconduct; and 

(iii) to indemnify the Indenture Trustee for, defend and to hold it harmless against, any and all loss, liability expense
(including experts’, accountants’ and attorneys’ fees), damage or claim incurred by it in connection with the administration of this trust and the performance of its duties hereunder and under any Transaction Document (including the
costs of enforcement of the provisions of this clause) without negligence, bad faith or willful misconduct on its part, arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of
defending itself against any claim or liability (whether asserted by the Issuer, the Servicer, any Holder or any other Person), and including any claim arising from the failure by the Issuer or the Servicer to pay when due any sales, exercise,
transfer or personal taxes relating to the Receivables and including any costs or expenses incurred in 

  
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respect of enforcement of its right to indemnity under this Section 8.07. If the defendants in any action include both the Indenture Trustee and the Issuer, and the
Indenture Trustee shall have reasonably concluded that there may be legal defenses available to it that are different from or additional to those available to the Issuer, the Indenture Trustee shall have the right to select separate counsel to
assert such legal defenses and to otherwise participate in the defense of such action on behalf of the Indenture Trustee at the expense of the Issuer, subject to the approval of the Issuer (such approval not to be unreasonably withheld). 

With respect to the payment of these fees, reimbursement amounts and indemnities, the Indenture Trustee will have no recourse to any asset of the Issuer other
than funds available pursuant to Section 7.06 or to any Person other than the Issuer. Except as specified in Section 7.06, any such payments to the Indenture Trustee shall be subordinate to
payments to be made to the Noteholders. 
 (b) This Section 8.07 will survive the termination of this Indenture
and the resignation or replacement of the Indenture Trustee under Section 8.10. 

Section 8.08. Disqualification; Conflicting Interests. If the Indenture Trustee has or will acquire a
conflicting interest within the meaning of the Trust Indenture Act, the Indenture Trustee will, if so required by the Trust Indenture Act, either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the
provisions of, the Trust Indenture Act and this Indenture. Nothing herein will prevent the Indenture Trustee from filing with the Commission the application referred to in the second to last paragraph of Section 310(b) of the Trust Indenture
Act. 
 Section 8.09. Corporate Indenture Trustee Required; Eligibility. There will at all times be an
Indenture Trustee hereunder with respect to each Series, Class or Tranche of Notes, which will be a corporation organized and doing business under the laws of the United States of America or of any State, authorized under such laws to exercise
corporate trust powers, having a combined capital surplus, and undivided profits of at least $50,000,000, subject to supervision or examination by Federal or State authority, and at the time of appointment, shall have a long term senior, unsecured
debt rating of “Baa3” or better by Moody’s, if rated by Moody’s, “BBB-” or better by SP Global Ratings, if rated by SP Global Ratings, “BBB” or better by Fitch, if rated
by Fitch and “BBB-” or better by KBRA, if rated by KBRA (or, if not rated by Moody’s, SP Global Ratings, Fitch or KBRA, a comparable rating by another statistical rating agency). If such
corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 8.09, the combined capital
surplus, and undivided profits of such corporation will be deemed to be its combined capital surplus, and undivided profits as set forth in its most recent report of condition so published. The Issuer may not, nor may any Person directly or
indirectly controlling, controlled by, or under common control with the Issuer, serve as Indenture Trustee. If at any time the Indenture Trustee with respect to any Series, Class or Tranche of Notes will cease to be eligible in accordance with
the provisions of this Section 8.09, it will resign immediately in the manner and with the effect hereinafter specified in this Article VIII. The Indenture Trustee shall not (a) offer or provide credit or credit
enhancement to the Issuer and (b) 

  
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be affiliated, as such term is defined in Rule 405 under the Securities Act, with the Issuer at any time. 

Section 8.10. Resignation and Removal; Appointment of Successor. 

(a) No resignation or removal of the Indenture Trustee and no appointment of a successor Indenture Trustee pursuant to this Article
VIII will become effective until the acceptance of appointment by the successor Indenture Trustee under Section 8.11. 

(b) The Indenture Trustee may resign with respect to any Series, Class or Tranche of Notes at any time by giving written notice thereof
to the Issuer (with a copy delivered to the Paying Agent and the Note Registrar). If an instrument of acceptance by a successor Indenture Trustee shall not have been delivered to the Indenture Trustee within thirty (30) days after the giving of
such notice of resignation, the resigning Indenture Trustee, at the Issuer’s expense, may petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee. 

(c) The Indenture Trustee may be removed with (30) days’ written notice with respect to any Series, Class or Tranche of Notes
at any time by Act of the Holders of not less than 66 2/3% in Outstanding Dollar Principal Amount of all the Notes then Outstanding hereunder (treated as one Class), Class or Tranche, delivered to the Indenture Trustee and to the Issuer (with a
copy delivered to the Paying Agent and the Note Registrar). 
 (d) If at any time: 

(i) the Indenture Trustee fails to comply with Section 310(b) of the Trust Indenture Act with respect to any Series,
Class or Tranche of Notes after written request therefor by the Issuer or by any Noteholder who has been a bona fide Holder of a Note of that Series, Class or Tranche for at least six (6) months, or 

(ii) the Indenture Trustee ceases to be eligible under Section 8.09 with respect to any Series,
Class or Tranche of Notes and fails to resign after written request therefor by the Issuer or by any such Noteholder, or 

(iii) the Indenture Trustee becomes incapable of acting with respect to any Series, Class or Tranche of Notes, or 

(iv) the Indenture Trustee is adjudged bankrupt or insolvent or a receiver of the Indenture Trustee or of its property is
appointed or any public officer takes charge or control of the Indenture Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

then, in any such case, (A) the Issuer may remove the Indenture Trustee, with respect to the Series, Class or Tranche, or in the case of
clause (iv), with respect to all Series, Classes or Tranches, or (B) subject to Section 7.17, any Noteholder who has been a bona fide Holder of a Note of such Series, Class and Tranche for at least six
(6) months may, on behalf of itself and all 

  
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others similarly situated, petition any court of competent jurisdiction for the removal of the Indenture Trustee with respect to such Series, Class or Tranche and the appointment of a
successor Indenture Trustee with respect to the Series, Class or Tranche, or, in the case of clause (iv), with respect to all Series, Classes and Tranches. 

(e) If the Indenture Trustee resigns, is removed or becomes incapable of acting with respect to any Series, Class or Tranche of Notes, or
if a vacancy shall occur in the office of the Indenture Trustee with respect to any Series, Class or Tranche of Notes for any cause, the Issuer will promptly appoint a successor Indenture Trustee for that Series, Class or Tranche of Notes.
If, within one year after such resignation, removal or incapacity, or the occurrence of such vacancy, a successor Indenture Trustee with respect to such Series, Class or Tranche of Notes is appointed by Act of the Majority Holders of such
Series, Class or Tranche delivered to the Issuer and the retiring Indenture Trustee, the successor Indenture Trustee so appointed will, forthwith upon its acceptance of such appointment, become the successor Indenture Trustee with respect to
such Series, Class or Tranche and supersede the successor Indenture Trustee appointed by the Issuer with respect to such Series, Class or Tranche. If no successor Indenture Trustee with respect to such Series, Class or Tranche shall
have been so appointed by the Issuer or the Noteholders of such Series, Class or Tranche and accepted appointment in the manner hereinafter provided, any Noteholder who has been a bona fide Holder of a Note of that Series, Class or Tranche
for at least six (6) months may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Indenture Trustee with respect to such Series, Class or Tranche. 

(f) The Issuer will give written notice of each resignation and each removal of the Indenture Trustee with respect to any Series,
Class or Tranche and each appointment of a successor Indenture Trustee with respect to any Series, Class or Tranche to each Noteholder as provided in Section 1.06 and to each Note Rating Agency. Each notice will
include the name of the successor Indenture Trustee and the address of its principal Corporate Trust Office. 

Section 8.11. Acceptance of Appointment by Successor. Every successor Indenture Trustee appointed hereunder
will execute, acknowledge and deliver to the Issuer and to the predecessor Indenture Trustee an instrument accepting such appointment, with a copy to the Note Rating Agencies, and thereupon the resignation or removal of the predecessor Indenture
Trustee will become effective with respect to any Series, Class or Tranche as to which it is resigning or being removed as Indenture Trustee, and such successor Indenture Trustee, without any further act, deed or conveyance, will become vested
with all the rights, powers, trusts and duties of the predecessor Indenture Trustee with respect to any such Series, Class or Tranche; but, on request of the Issuer or the successor Indenture Trustee, such predecessor Indenture Trustee will,
upon payment of its reasonable charges, if any, execute and deliver an instrument transferring to such successor Indenture Trustee all the rights, powers and trusts of the predecessor Indenture Trustee, and will duly assign, transfer and deliver to
such successor Indenture Trustee all property and money held by such predecessor Indenture Trustee hereunder with respect to all or any such Series, Class or Tranche, subject nevertheless to its lien, if any, provided for in
Section 8.07. Upon request of any such successor Indenture Trustee, the Issuer will execute any and all instruments for more fully and certainly vesting in and confirming to such successor Indenture Trustee all such rights,
powers and trusts. 

  
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 In case of the appointment hereunder of a successor Indenture Trustee with respect to the
Notes of one or more (but not all) Series, Classes or Tranches, the Issuer, the predecessor Indenture Trustee and each successor Indenture Trustee with respect to the Notes of any applicable Series, Class or Tranche will execute and deliver an
Indenture Supplement which will contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the predecessor Indenture Trustee with respect to the Notes of any Series, Class or
Tranche as to which the predecessor Indenture Trustee is not being succeeded will continue to be vested in the predecessor Indenture Trustee, and will add to or change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Indenture Trustee, it being understood that nothing herein or in such Indenture Supplement will constitute such Indenture Trustees
co-trustees of the same trust and that each such Indenture Trustee will be Indenture Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such
Indenture Trustee. 
 No successor Indenture Trustee with respect to any Series, Class or Tranche of Notes will accept its appointment
unless at the time of such acceptance such successor Indenture Trustee will be qualified and eligible with respect to that Series, Class or Tranche under this Article VIII. 

Section 8.12. Merger, Conversion, Consolidation or Succession to Business. Any corporation into which the
Indenture Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Indenture Trustee shall be a party, or any corporation succeeding to all or
substantially all of the corporate trust business of the Indenture Trustee, will be the successor of the Indenture Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article VIII, without the
execution or filing of any paper or any further act on the part of any of the parties hereto. The Issuer will give prompt written notice of such merger, conversion, consolidation or succession to the Note Rating Agencies. In case any Notes shall
have been authenticated, but not delivered, by the Indenture Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Indenture Trustee may adopt such authentication and deliver the Notes so authenticated
with the same effect as if such successor Indenture Trustee had itself authenticated such Notes. 
 Section 8.13.
Preferential Collection of Claims Against Issuer. If and when the Indenture Trustee shall be or become a creditor of the Issuer (or any other obligor upon the Notes), the Indenture Trustee will be subject to the provisions of Section 311
of the Trust Indenture Act. An Indenture Trustee who has resigned or been removed will be subject to Section 311(a) of the Trust Indenture Act to the extent provided therein. 

Section 8.14. Appointment of Authenticating Agent. At any time when any of the Notes remain Outstanding, and
to the extent that Wells Fargo Bank, National Association is not then serving in the capacity as Note Registrar, the Indenture Trustee, with the approval of the Issuer, may appoint an Authenticating Agent or Authenticating Agents (which may include
the Indenture Trustee) with respect to one or more Series, Classes or Tranches of Notes which will be authorized to act on behalf of the Indenture Trustee to authenticate Notes of such Series, 

  
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Classes or Tranches issued upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.06, and Notes so authenticated will be entitled
to the benefits of this Indenture and will be valid and obligatory for all purposes as if authenticated by the Indenture Trustee hereunder. Upon the appointment of an Authenticating Agent pursuant to this Section 8.14,
wherever reference is made in this Indenture to the authentication and delivery of Notes by the Note Registrar or the Note Registrar’s certificate of authentication, such reference will be deemed to include authentication and delivery on behalf
of the Note Registrar by an Authenticating Agent and a certificate of authentication executed on behalf of the Note Registrar by an Authenticating Agent. Each Authenticating Agent will be acceptable to the Issuer and will at all times be a
corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as an Authenticating Agent, having a combined capital surplus, and undivided
profits of not less than $50,000,000 and, if other than the Issuer itself, subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the
requirements of said supervising or examining authority, then for the purposes of this Section 8.14, the combined capital surplus, and undivided profits of such Authenticating Agent will be deemed to be its combined capital
surplus, and undivided profits as set forth in its most recent report of condition so published. If at any time an Authenticating Agent will cease to be eligible in accordance with the provisions of this Section 8.14, such
Authenticating Agent will resign immediately in the manner and with the effect specified in this Section 8.14. 

Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent will be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, will continue to be an
Authenticating Agent, provided such corporation will be otherwise eligible under this Section 8.14, without the execution or filing of any paper or any further act on the part of the Indenture Trustee or the
Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the Indenture Trustee and to the
Issuer. The Indenture Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Issuer. Upon receiving such a notice of resignation or upon such a termination, or
in case at any time such Authenticating Agent will cease to be eligible in accordance with the provisions of this Section 8.14, the Indenture Trustee, with the approval of the Issuer, may appoint a successor Authenticating
Agent which will be acceptable to the Issuer and will give notice to each Noteholder as provided in Section 1.06. Any successor Authenticating Agent upon acceptance of its appointment hereunder will become vested with all
the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent will be appointed unless eligible under the provisions of this
Section 8.14. 
 The Indenture Trustee agrees to pay to each Authenticating Agent (other than an Authenticating
Agent appointed at the request of the Issuer from time to time) reasonable 

  
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compensation for its services under this Section 8.14, and the Indenture Trustee will be entitled to be reimbursed for such payments, subject to the provisions of
Section 8.07. 
 If an appointment with respect to one or more Series, Classes or Tranches is made pursuant to
this Section 8.14, the Notes of such Series, Classes or Tranche may have endorsed thereon, in addition to the Indenture Trustee’s certificate of authentication, an alternate certificate of authentication in the
following form: 
 This is one of the Notes of the Series, Classes or Tranches 

designated therein referred to in the within-mentioned 

Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION, as Indenture Trustee
		
	By:	 	 
		 	As Authenticating Agent
		
	By:	 	 
		 	 Authorized Signatory 

 Section 8.15. Tax Returns. 

(a) In the event the Issuer shall be required to file tax returns, the Beneficiary and the Servicer shall prepare or shall cause to be
prepared such tax returns and shall provide such tax returns to the Owner Trustee or the Beneficiary for signature at least five (5) days before such tax returns are due to be filed. The Issuer, in accordance with the terms of each Indenture
Supplement, shall also prepare or shall cause to be prepared all tax information required by law to be distributed to Noteholders and shall deliver such information to the Note Registrar at least five (5) days prior to the date it is required
by law to be distributed to Noteholders. The Note Registrar, upon written request, will furnish the Beneficiary and the Servicer with all such information known to the Note Registrar as may be reasonably requested and required in connection with the
preparation of all tax returns of the Issuer, and shall, upon request, execute such returns. In no event shall the Note Registrar or the Owner Trustee be personally liable for any liabilities, costs or expenses of the Issuer or any Noteholder
arising under any tax law, including without limitation, federal, state or local income or excise taxes or any other tax imposed on or measured by income (or any interest or penalty with respect thereto arising from a failure to comply therewith).

 (b) In the event that the Issuer is classified as a partnership for federal income tax purposes, the Transferor (or a U.S. Affiliate of
the Transferor if the Transferor is ineligible) is hereby designated as the partnership representative under Section 6223(a) of the Internal Revenue Code to the extent allowed by law. The Issuer shall, to the extent eligible, make the election
under Section 6221(b) of the Internal Revenue Code with respect to determinations of 

  
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adjustments at the partnership level and take any other action such as filings, disclosures and notifications necessary to effectuate such election. If the election described in the preceding
sentence is not available, the Issuer shall, to the extent eligible, make the election under Section 6226(a) of the Internal Revenue Code with respect to the alternative to payment of imputed underpayments by a partnership and take any other
action such as filings, disclosures and notifications necessary to effectuate such election. Notwithstanding the foregoing, each of the Issuer, the Transferor and the Servicer are authorized, in its sole discretion, to make any available election
related to Sections 6221 through 6241 of the Internal Revenue Code and to take any action it deems necessary or appropriate to comply with the requirements of the Internal Revenue Code and conduct the Issuer’s affairs under Sections 6221
through 6241 of the Internal Revenue Code. 
 Section 8.16. Representations and Covenants of the Indenture
Trustee. The Indenture Trustee represents, warrants and covenants that: 
 (i) The Indenture Trustee is a national
banking association duly organized and validly existing under the laws of the United States of America; 
 (ii) The Indenture
Trustee has full power and authority to execute, deliver and perform this Indenture and has taken all necessary action to authorize the execution, delivery and performance by it of this Indenture and other documents to which it is a party; and 

(iii) Each of this Indenture and other documents to which it is a party has been duly executed and delivered by the Indenture
Trustee and constitutes its legal, valid and binding obligation in accordance with its terms. 
 Section 8.17.
Custody of the Collateral. The Paying Agent on behalf of the Indenture Trustee shall hold such of the Collateral as constitutes a Permitted Investment in accordance with subsection 4.03(c). As specified in written
instructions provided by the Issuer to the Indenture Trustee, or in other agreements executed by the Issuer and the Indenture Trustee, the Indenture Trustee must maintain exclusive control or possession of, or take any other action required of the
Indenture Trustee under Section 13.01 that is necessary or appropriate to maintain its first priority perfected security interest in, all other Collateral. Notwithstanding any other provision of this Indenture, the
Indenture Trustee shall not hold any Collateral through an agent or nominee except as expressly permitted by this Section 8.17 and subsection 4.03(c). Each term used in this
Section 8.17 and defined in the New York UCC shall have the meaning set forth in the New York UCC. 

Section 8.18. Indenture Trustee’s Application for Instructions from the Issuer. Any application by the
Indenture Trustee for written instructions from the Issuer may, at the option of the Indenture Trustee, set forth in writing any action proposed to be taken or omitted by the Indenture Trustee under and in accordance with this Indenture and the date
on and/or after which such action shall be taken or such omission shall be effective, provided, that such application shall make specific reference to this Section 8.18. The Indenture Trustee shall not be liable for
any action taken by, or omission of, the Indenture Trustee in accordance with a 

  
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proposal included in such application on or after the date specified in such application (which date shall not be less than five (5) Business Days after the date any officer of the Issuer
actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Indenture Trustee shall have received
written instructions in response to such application specifying the action be taken or omitted. 
 Section 8.19.
Account Information Confidential. The Indenture Trustee hereby agrees not to disclose to any Person any of the cardholder account numbers or other information contained in the Account Schedules delivered to the Indenture Trustee
(“Account Information”) except as is required in connection with its duties in enforcing the rights of the Noteholders, as mandated pursuant to any Requirements of Law applicable to the Indenture Trustee, or as requested by any Person in
connection with financing statements filed pursuant to any Transaction Document. The Issuer agrees to take such measures as shall be reasonably requested by the Issuer to protect and maintain the security and confidentiality of such information,
and, in connection therewith, shall allow the Issuer to inspect the Indenture Trustee’s security, data protection and confidentiality arrangements from time to time during normal business hours. In the event that the Indenture Trustee is
required by law to disclose any Account Information, the Indenture Trustee shall provide the Issuer with prompt written notice, unless such notice is prohibited by law, of any such request or requirement so that the Issuer may notify the Transferor
and WFBNA and may request a protective order or other appropriate remedy. The Indenture Trustee shall make best efforts to provide the Issuer and the Transferor with written notice no later than five (5) days prior to any disclosure pursuant to
this Section 8.19. 

  
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 ARTICLE IX 

LISTS, REPORTS BY INDENTURE TRUSTEE, ISSUER AND BENEFICIARY 

Section 9.01. Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders. The Issuer will furnish
or cause to be furnished to the Indenture Trustee, the Paying Agent and the Note Registrar at such times as the Indenture Trustee, the Paying Agent and the Note Registrar, as applicable, may request in writing, within thirty (30) days after the
receipt by the Issuer of any such request, a list of the names and addresses of the Registered Noteholders of such Series, Classes or Tranches as of such date; provided, however, that in the event the Indenture Trustee is the Note
Registrar, no such list shall be required to be furnished. 
 Section 9.02. Preservation of Information;
Communications to Noteholders. 
 (a) The Note Registrar will preserve, in as current a form as is reasonably practicable, the names and
addresses of Registered Noteholders contained in the most recent list furnished to the Note Registrar as provided in Section 9.01 and the names and addresses of Registered Noteholders received by the Note Registrar in its
capacity as Note Registrar. The Note Registrar may destroy any list furnished to it pursuant to Section 9.01 upon receipt of a new list so furnished. 

(b) If three (3) or more Holders of Notes of any Series, Class or Tranche (hereinafter referred to as “applicants”)
apply in writing to the Note Registrar and/or the Indenture Trustee, and furnish to the Note Registrar and/or the Indenture Trustee, as the case may be, reasonable proof that each such applicant has owned a Note of such Series, Class or Tranche
for a period of at least six (6) months preceding the date of such application, and such application states that the applicants desire to communicate with other Holders of Notes of such Series, Class or Tranche or with the Holders of all
Notes with respect to their rights under this Indenture or under such Notes and is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then the Note Registrar and/or the Indenture Trustee, as
the case may be, will, within five (5) Business Days after the receipt of such application, at its election, either 

(i) afford such applicants access to the information preserved at the time by the Note Registrar in accordance with
subsection 9.02(a), or 
 (ii) inform such applicants as to the approximate number of Holders of
Notes of such Series, Class or Tranche or all Notes, as the case may be, whose names and addresses appear in the information preserved at the time by the Note Registrar in accordance with subsection 9.02(a), and as to
the approximate cost of mailing to such Noteholders the form of proxy or other communication, if any, specified in such application. 

  
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 If the Note Registrar and/or the Indenture Trustee, as the case may be, shall elect not to
afford such applicants access to such information, the Note Registrar and/or the Indenture Trustee, as the case may be, shall, upon the written request of such applicants, mail to each Holder of a Registered Note of such Series, Class or
Tranche or to all Registered Noteholders, as the case may be, whose names and addresses appear in the information preserved at the time by the Note Registrar and/or the Indenture Trustee, as the case may be, in accordance with
subsection 9.02(a), a copy of the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Note Registrar and/or the Indenture Trustee, as the case may be, of
the material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless, within five (5) days after such tender, the Note Registrar and/or the Indenture Trustee, as the case may be, shall mail to
such applicants and file with the Commission, together with a copy of the material to be mailed, a written statement to the effect that, in the opinion of the Note Registrar or the Indenture Trustee, as the case may be, such mailing would be
contrary to the best interests of the Holders of Notes of such Series, Class or Tranche or all Noteholders, as the case may be, or would be in violation of applicable law. Such written statement will specify the basis of such opinion. If the
Commission, after opportunity for a hearing upon the objections specified in the written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such
objections, the Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met and shall enter an order so declaring, the Note Registrar and/or the Indenture Trustee, as the case may be, will mail
copies of such material to all Registered Noteholders of such Series, Class or Tranche or all Registered Noteholders, as the case may be, with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the
Note Registrar and/or the Indenture Trustee, as the case may be, will be relieved of any obligation or duty to such applicants respecting their application. 

(c) Every Holder of Notes, by receiving and holding the same, agrees with the Issuer, the Note Registrar and the Indenture Trustee that none
of the Issuer, the Note Registrar or the Indenture Trustee will be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Notes in accordance with
subsection 9.02(b), regardless of the source from which such information was derived, and that the Note Registrar and the Indenture Trustee will not be held accountable by reason of mailing any material pursuant to a
request made under subsection 9.02(b). 
 Section 9.03. Reports by Indenture
Trustee. 
 (a) The term “reporting date” as used in this Section 9.03 means [________ __, ____]. To
the extent required by the Trust Indenture Act, sixty (60) days after the reporting date in each year, beginning in 20[__], the Indenture Trustee will transmit to Noteholders, in the manner and to the extent provided in Section 313(c) of
the Trust Indenture Act, a brief report dated as of such reporting date. 
 (b) To the extent required by the Trust Indenture Act, the
Indenture Trustee will mail each year to all Registered Noteholders, with a copy to the Note Rating Agencies a report concerning: 

  
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 (i) its eligibility and qualifications to continue as trustee under this
Indenture; 
 (ii) any amounts advanced by the Indenture Trustee under this Indenture; 

(iii) the amount, interest rate and maturity date or indebtedness owing by the Issuer to the Indenture Trustee in the Indenture
Trustee’s individual capacity; 
 (iv) the property and funds physically held by the Indenture Trustee as Indenture
Trustee; 
 (v) any release or release and substitution of Collateral subject to the lien of this Indenture which has not
previously been reported; and 
 (vi) any action taken by the Indenture Trustee that materially affects the Notes and that
has not previously been reported. 
 (c) The Indenture Trustee will comply with Sections 313(b) and 313(c) of the Trust Indenture Act.

 (d) A copy of each such report will, at the time of such transmission to Noteholders, be filed by the Indenture Trustee with each stock
exchange upon which the Notes are listed, and also with the Commission. The Issuer will notify the Indenture Trustee when the Notes are admitted to trading on any stock exchange. 

Section 9.04. Reports by Issuer to the Commission. The Issuer will: 

(a) provide to the Indenture Trustee, within fifteen (15) days after the Issuer is required to file the same with the Commission, copies
of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Issuer may be required to file with
the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Issuer is not required to file information, documents or reports pursuant to either of said Sections, then it will provide to the Indenture Trustee and
file with the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the
Exchange Act in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 

(b) provide to the Indenture Trustee and file with the Commission, in accordance with rules and regulations prescribed from time to time by
the Commission, such additional information, documents and reports with respect to compliance by the Issuer with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and 

  
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 (c) transmit by mail to all Registered Noteholders, as their names and addresses appear in
the Note Register within thirty (30) days after the provision thereof to the Indenture Trustee, such summaries of any information, documents and reports required to be filed by the Issuer pursuant to paragraphs (a) and (b) of this
Section 9.04 as may be required by rules and regulations prescribed from time to time by the Commission. 

Section 9.05. Reports by Paying Agent. The Paying Agent will report to the Issuer with respect to the amount
on deposit in the Trust Accounts, and the identity of the investments included therein, as the Issuer may from time to time reasonably request which, absent the occurrence of an Event of Default hereunder, will not occur more often than monthly.

 Section 9.06. Monthly Noteholders’ Statement. On each Determination Date, the Issuer will cause the
Servicer to, in cooperation with and based on information provided to it by the Issuer and the Beneficiary, complete and deliver to the Note Registrar, the Paying Agent and the Indenture Trustee (with a copy to each Note Rating Agency) a Monthly
Noteholders’ Statement. 

  
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 ARTICLE X 

INDENTURE SUPPLEMENTS AND AMENDMENTS TO THE TRUST AGREEMENT 

Section 10.01. Supplemental Indentures Without Consent of Noteholders. Without the consent of the Holders of
any Notes but with prior notice to each Note Rating Agency, the Issuer, the Paying Agent, the Note Registrar and the Indenture Trustee, at any time and from time to time, upon delivery of an Issuer Tax Opinion and upon delivery by the Issuer to the
Indenture Trustee, Paying Agent and the Note Registrar of an Officer’s Certificate to the effect that the Issuer reasonably believes that such amendment will not have an Adverse Effect and is not reasonably expected to have an Adverse Effect at
any time in the future may amend this Indenture or any Indenture Supplement or enter into one or more Indenture Supplements, in form satisfactory to the Indenture Trustee, for any of the following purposes: 

(a) to evidence the succession of another Entity to the Issuer, and the assumption by any such successor of the covenants of the Issuer herein
and in the Notes; or 
 (b) to add to the covenants of the Issuer, or to surrender any right or power herein conferred upon the Issuer, for
the benefit of the Holders of the Notes of any or all Series, Classes or Tranches (and if such covenants or the surrender of such right or power are to be for the benefit of less than all Series, Classes or Tranches of Notes, stating that such
covenants are expressly being included or such surrenders are expressly being made solely for the benefit of one or more specified Series, Classes or Tranches); or 

(c) to cure any ambiguity, to correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make
any other provisions with respect to matters or questions arising under this Indenture; or 
 (d) to add to this Indenture such provisions
as may be expressly permitted by the Trust Indenture Act, excluding, however, the provisions referred to in Section 316(a)(2) of the Trust Indenture Act as in effect at the date as of which this Indenture was executed or any corresponding
provision in any similar federal statute hereafter enacted; or 
 (e) to establish any form of Note, as provided in
Article II, and to provide for the issuance of any Series, Class or Tranche of Notes as provided in Article III and to set forth the terms thereof, and/or to add to the rights of the Holders
of the Notes of any Series, Class or Tranche; or 
 (f) to evidence and provide for the acceptance of appointment by another
corporation as a successor Indenture Trustee hereunder with respect to one or more Series, Classes or Tranches of Notes and to add to or change any of the provisions of this Indenture as will be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one Indenture Trustee, pursuant to Section 8.11; or 

  
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 (g) to add any additional Early Redemption Events or Events of Default in respect of the
Notes of any or all Series, Classes or Tranches (and if such additional Events of Default are to be in respect of less than all Series, Classes or Tranches of Notes, stating that such Events of Default are expressly being included solely for the
benefit of one or more specified Series, Classes or Tranches); or 
 (h) if one or more additional Transferors under the Transfer Agreement
are added to, or replaced under, the Transfer Agreement, or one or more additional Beneficiaries under the Trust Agreement are added to, or replaced under, the Trust Agreement, to make any necessary changes to the Indenture or any other related
document; or 
 (i) to provide for the inclusion of additional collateral (in addition to the Collateral) and the issuance of Notes backed
by any such additional collateral (in addition to the Collateral); 
 (j) to provide for additional or alternative credit enhancement for
any Tranche of Notes; or 
 (k) to qualify for sale treatment under generally accepted accounting principles. 

Additionally, notwithstanding any provision of this Article X to the contrary, this Indenture or any Indenture Supplement may be
amended without the consent of the Indenture Trustee, Paying Agent or Note Registrar, or any of the Noteholders, upon delivery of an Issuer Tax Opinion for the purpose of adding any provisions to, or changing in any manner or eliminating any of the
provisions of, this Indenture or any Indenture Supplement or of modifying in any manner the rights of the Holders of the Notes under this Indenture or any Indenture Supplement; provided, however, that (i) the Issuer shall deliver
to the Indenture Trustee, the Paying Agent, the Note Registrar and the Owner Trustee an Officer’s Certificate to the effect that the Issuer reasonably believes that such amendment will not have an Adverse Effect and is not reasonably expected
to have an Adverse Effect at any time in the future and (ii) the Rating Agency Condition is satisfied with respect to such amendment; provided, however, none of the Indenture Trustee, Paying Agent or the Note Registrar, as applicable, shall be
required to execute any amendment that adversely impacts the rights, duties, privileges, indemnities, protections, immunities and benefits of the Indenture Trustee, Paying Agent or the Note Registrar under this Indenture or any Indenture Supplement
or otherwise, as applicable. Following the execution of any amendment to the Indenture pursuant to this Section 10.01, the Issuer shall promptly provide a copy of such amendment to the Indenture Trustee, the Paying Agent,
the Note Registrar and the Owner Trustee. 
 Section 10.02. Supplemental Indentures with Consent of
Noteholders. With prior notice to each applicable Note Rating Agency and the consent of not less than 66-2/3% in Outstanding Dollar Principal Amount of each Class or Tranche affected by such amendment
of this Indenture or any Indenture Supplement by Act of said Holders delivered to the Issuer and the Indenture Trustee, the Issuer, the Paying Agent, the Note Registrar and the Indenture Trustee, upon delivery of an Issuer Tax Opinion, may enter
into an amendment of this Indenture or such 

  
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Indenture Supplement for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or any Indenture Supplement or of modifying in
any manner the rights of the Holders of the Notes of each such Series, Class or Tranche under this Indenture or any Indenture Supplement; provided, however, that no such amendment or Indenture Supplement will, without the consent
of the Holder of each Outstanding Note affected thereby: 
 (a) change the scheduled payment date of any payment of interest on any Note, or
change an Expected Principal Payment Date or Legal Maturity Date of any Note; 
 (b) reduce the Stated Principal Amount of, or the interest
rate on any Note, or change the method of computing the Outstanding Dollar Principal Amount, the Adjusted Outstanding Dollar Principal Amount or the Nominal Liquidation Amount in a manner that is adverse to the Holder of any Note; 

(c) reduce the amount of a Discount Note payable upon the occurrence of an Early Redemption Event or other optional or mandatory redemption or
upon the acceleration of its maturity; 
 (d) impair the right to institute suit for the enforcement of any payment on any Note; 

(e) reduce the percentage in Outstanding Dollar Principal Amount of the Outstanding Notes of any Series, Class or Tranche, the consent of
whose Holders is required for any such Indenture Supplement, or the consent of whose Holders is required for any waiver of compliance with the provisions of this Indenture or of defaults hereunder and their consequences, provided for in this
Indenture; 
 (f) modify any of the provisions of this Section 10.02 or Section 7.18,
except to increase any percentage of Holders of Notes required to consent to any such amendment or to provide that other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Note affected
thereby; 
 (g) permit the creation of any lien or other encumbrance on the Collateral that secures any Tranche of Notes that is prior to
the lien in favor of the Holders of the Notes of such Tranche; 
 (h) change any place of payment where any principal of, or interest on,
any Note is payable, unless otherwise provided in the applicable Indenture Supplement; 
 (i) change the method of computing the amount of
principal of, or interest on, any Note on any date; or 
 (j) make any other amendment not permitted by
Section 10.01. 

  
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 An amendment of this Indenture or an Indenture Supplement which changes or eliminates any
covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular Series, Class or Tranche of Notes, or which modifies the rights of the Holders of Notes of such Series,
Class or Tranche with respect to such covenant or other provision, will be deemed not to affect the rights under this Indenture of the Holders of Notes of any other Series, Class or Tranche. 

It will not be necessary for any Act of Noteholders under this Section 10.02 to approve the particular form of any
proposed amendment or Indenture Supplement, but it will be sufficient if such Act will approve the substance thereof. 

Section 10.03. Execution of Indenture Supplements. In executing or accepting the additional trusts created by
any amendment of this Indenture or Indenture Supplement permitted by this Article X or the modifications thereby of the trusts created by this Indenture, each of the Indenture Trustee, the Paying Agent and the Note Registrar will be entitled
to receive, and (subject to Section 8.01) will be fully protected in relying upon, an Opinion of Counsel stating that the execution of such amendment or Indenture Supplement is authorized or permitted by this Indenture and
that all conditions precedent thereto have been satisfied. Each of the Indenture Trustee, the Paying Agent and the Note Registrar may, but will not (except to the extent required in the case of an amendment or Indenture Supplement entered into under
subsection 10.01(d) or 10.01(f)) be obligated to, enter into any such Indenture Supplement which affects the Indenture Trustee’s, the Paying Agent’s or the Note Registrar’s, as applicable, own rights,
duties, privileges, indemnities, protections, immunities and benefits under this Indenture or otherwise. 

Section 10.04. Effect of Indenture Supplements. Upon the execution of any amendment of this Indenture or
Indenture Supplement under this Article X, this Indenture will be modified in accordance therewith with respect to each Series, Class or Tranche of Notes affected thereby, or all Notes, as the case may be, and such amendment or Indenture
Supplement will form a part of this Indenture for all purposes; and every Holder of Notes theretofore or thereafter authenticated and delivered hereunder will be bound thereby to the extent provided therein. 

Section 10.05. Conformity with Trust Indenture Act. Every amendment of this Indenture or Indenture Supplement
executed pursuant to this Article X will conform to the requirements of the Trust Indenture Act as then in effect. 

Section 10.06. Reference in Notes to Indenture Supplements. Notes authenticated and delivered after the
execution of any amendment of this Indenture or Indenture Supplement pursuant to this Article X may, and will if required by the Indenture Trustee, bear a notation in form approved by the Indenture Trustee as to any matter provided for in
such amendment or Indenture Supplement. If the Issuer will so determine, new Notes so modified as to conform, in the opinion of the Indenture Trustee and the Issuer, to any such amendment or Indenture Supplement may be prepared and executed by the
Issuer and authenticated and delivered by the Note Registrar in exchange for Outstanding Notes. 

  
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 Section 10.07. Amendments to the Transfer Agreement, the
Servicing Agreement, the Asset Representations Review Agreement. 
 (a) By their acceptance of a Note, the Noteholders
acknowledge that the Transferor, the Servicer and the Issuer, as applicable, may amend the Transfer Agreement and the Servicing Agreement, as applicable, without the consent of the any Noteholder, so long as the provisions of the Transfer Agreement
or the Servicing Agreement, as applicable, are complied with. 
 (b) By their acceptance of a Note, the Noteholders acknowledge that the
Transferor, the Servicer, WFBNA and the Asset Representations Reviewer may amend the Asset Representations Review Agreement, including the content of any Exhibit to the Asset Representations Review Agreement, without the consent of any Noteholder so
long as such amendment shall not have an Adverse Effect, and is not reasonably expected by the Transferor to have an Adverse Effect at any time in the future on any Noteholder whose consent has not been obtained (as evidenced by an Officer’s
Certificate of the Transferor delivered to WFBNA, the Servicer, and the Indenture Trustee). 
 Section 10.08.
Amendments to the Trust Agreement. 
 (a) Subject to the provisions of the Trust Agreement, without the consent of the Holders of any
Notes or the Indenture Trustee, the Owner Trustee (at the written direction of the Beneficiary) and the Beneficiary may amend the Trust Agreement so long as such amendment will not, in the reasonable belief of the Beneficiary, have an Adverse Effect
and is not reasonably expected by the Beneficiary to have an Adverse Effect at any time in the future on any Noteholder whose consent has not been obtained (as evidenced by an Officer’s Certificate of the Beneficiary delivered to the Indenture
Trustee). 
 (b) Subject to the provisions of the Trust Agreement, (A) in the case of a significant change in the permitted activities
of the Issuer which is not materially adverse to Holders of the Notes, with the consent of the Majority Holders of each Series, Class or Tranche of Notes affected by such change, and (B) in all other cases, with the consent of the Holders
of not less than 66-2/3% in Outstanding Dollar Principal Amount of the Outstanding Notes adversely affected by such amendment, by Act of said Holders delivered to the Indenture Trustee, the Beneficiary and the
Owner Trustee (at the written direction of the Beneficiary) may amend the Trust Agreement for the purpose of adding, changing or eliminating any provisions of the Trust Agreement or of modifying the rights of those Noteholders. 

  
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 ARTICLE XI 

REPRESENTATIONS, WARRANTIES AND COVENANTS OF ISSUER 

Section 11.01. Payment of Principal and Interest. With respect to each Series, Class or Tranche of
Notes, the Issuer will duly and punctually pay the principal of and interest on such Notes in accordance with their terms and this Indenture, and will duly comply with all the other terms, agreements and conditions contained in, or made in this
Indenture for the benefit of, the Notes of such Series, Class or Tranche. 
 Section 11.02. Maintenance of
Office or Agency. The Issuer will maintain an office or agency where Notes may be presented or surrendered for payment, where Notes may be surrendered for transfer or exchange and where notices and demands to or upon the Issuer in respect of the
Notes and this Indenture may be served. Unless and until the Issuer rescinds such appointment, the Issuer hereby appoints the Note Registrar, at its Corporate Trust Office, as such office to receive such presentations, surrenders, notices and
demands. The Issuer will give prompt written notice to the Indenture Trustee and the Note Registrar of the location, and of any change in the location, of such office or agency. If at any time the Issuer will fail to maintain such office or will
fail to furnish the Indenture Trustee and the Note Registrar with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Note Registrar; provided, however,
the Note Registrar shall not be deemed an agent of the Issuer for service of legal process. The Corporate Trust Office of the Note Registrar will be maintained at Wells Fargo Bank, National Association, 600 S. 4th Street, MAC 9300-061, Minneapolis, Minnesota 55415, Attention: Corporate Trust Services – Asset-Backed Administration, or such other address as the Note
Registrar may inform the Issuer and the Indenture Trustee in writing. 
 Section 11.03. Money for Note Payments
to Be Held in Trust. The Paying Agent, on behalf of the Indenture Trustee, based solely upon written instructions furnished to the Paying Agent pursuant to and in accordance with the terms of this Indenture, will make distributions to
Noteholders from the Collection Account or other applicable Trust Account pursuant to the provisions of Article V and Article VII of this Indenture or any Indenture Supplement. The Paying Agent will have the
revocable power to withdraw funds from the Collection Account or other applicable Trust Account for the purpose of making the distributions referred to in the preceding sentence. The Indenture Trustee may revoke such power and remove the Paying
Agent if the Indenture Trustee determines in its sole discretion that the Paying Agent has failed to perform its obligations under this Indenture or any Indenture Supplement in any material respect. The Paying Agent upon removal will return all
funds in its possession to the Indenture Trustee. 
 The Issuer will cause each Paying Agent (other than the Indenture Trustee or Wells
Fargo Bank, National Association) for any Series, Class or Tranche of Notes to execute and deliver to the Indenture Trustee an instrument in which such Paying Agent will agree with the Indenture Trustee (and to the extent the Indenture Trustee
or Wells Fargo Bank, National 

  
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Association acts as Paying Agent, it so agrees), subject to the provisions of this Section 11.03, that such Paying Agent will: 

(a) hold all sums held by it for the payment of principal of or interest on Notes of such Series, Class or Tranche in trust for the
benefit of the Persons entitled thereto until such sums will be paid to such Persons or otherwise disposed of as herein provided; 
 (b) if
such Paying Agent is not the Indenture Trustee, give the Indenture Trustee notice of any default by the Issuer (or any other obligor upon the Notes of such Series, Class or Tranche) in the making of any such payment of principal or interest on
the Notes of such Series, Class or Tranche; 
 (c) if such Paying Agent is not the Indenture Trustee, at any time during the
continuance of any such default, upon the written request of the Indenture Trustee, forthwith pay to the Indenture Trustee all sums so held in trust by such Paying Agent; 

(d) immediately resign as a Paying Agent and, if such Paying Agent is not the Indenture Trustee, forthwith pay to the Indenture Trustee all
sums held by it in trust for the payment of Notes if at any time it ceases to meet the standards described in this Section 11.03 required to be met by a Paying Agent at the time of its appointment; and 

(e) comply with all requirements of the Internal Revenue Code with respect to the withholding from any payments made by it on any Notes of any
applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith. 
 The
Issuer may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture with respect to any Series, Class or Tranche of Notes or for any other purpose, pay, or by an Officer’s Certificate direct the Paying
Agent to pay, to the Indenture Trustee all sums held in trust by the Issuer or such Paying Agent in respect of each and every Series, Class or Tranche of Notes as to which it seeks to discharge this Indenture or, if for any other purpose, all
sums so held in trust by the Issuer in respect of all Notes, such sums to be held by the Indenture Trustee upon the same trusts as those upon which such sums were held by the Issuer or such Paying Agent; and, upon such payment by the Paying Agent to
the Indenture Trustee, such Paying Agent will be released from all further liability with respect to such money. 
 Subject to applicable
law, any money deposited with the Indenture Trustee or the Paying Agent, or then held by the Issuer, in trust for the payment of the principal of or interest on any Note of any Series, Class or Tranche and remaining unclaimed for two years
after such principal or interest has become due and payable will be paid to the Issuer upon request in an Officer’s Certificate, or (if then held by the Issuer) will be discharged from such trust; and the Holder of such Note will thereafter, as
an unsecured general creditor, look only to the Issuer for payment thereof, and all liability of the Indenture Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer as trustee thereof, will thereupon cease.
The Indenture Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Issuer give notice to the Holders of the Notes as to which the money to 

  
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be repaid was held in trust, as provided in Section 1.06, a notice that such funds remain unclaimed and that, after a date specified in the notice, which will not be
less than thirty (30) days from the date on which the notice was first mailed or published to the Holders of the Notes as to which the money to be repaid was held in trust, any unclaimed balance of such funds then remaining will be paid to the
Issuer free of the trust formerly impressed upon it. 
 The Issuer initially authorizes and appoints Wells Fargo Bank, National Association
to act as Paying Agent for the Notes on its behalf. The Issuer may at any time and from time to time authorize one or more Persons (including the Indenture Trustee) to act as Paying Agent in addition to or in place of Wells Fargo Bank, National
Association with respect to any Series, Class or Tranche of Notes issued under this Indenture. 
 Each Paying Agent will at all times
have a combined capital and surplus of at least $50,000,000 and be subject to supervision or examination by a United States Federal or State authority or be regulated by or subject to the supervision or examination of a governmental authority of a
nation that is member of the Organization for Economic Cooperation and Development. If such Paying Agent publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority,
then for the purposes of this Section 11.03, the combined capital and surplus of such Paying Agent will be deemed to be its combined capital and surplus as set forth in its most recent report of condition as so published.

 Section 11.04. Statement as to Compliance. The Issuer will deliver to the Indenture Trustee and the Note
Rating Agencies, on or before the 90th day following the end of each fiscal year for the Issuer, commencing with the calendar year ending [December 31, 20[__]], a written statement signed by an Issuer Authorized Officer stating that: 

(a) a review of the activities of the Issuer during the prior year (or, with respect to the written statement delivered in 20[__], for the
period from and including [________ __, ____] through and including [December 31, 20[__]]) and of the Issuer’s performance under this Indenture and under the terms of the Notes has been made under such Issuer Authorized Officer’s
supervision; and 
 (b) to the best of such Issuer Authorized Officer’s knowledge, based on such review, the Issuer has complied in all
material respects with all conditions and covenants under this Indenture throughout such year (or, with respect to the written statement delivered in 20[__], for the period from and including [________ __, ____] through and including [December 31,
20[__]]), or, if there has been a default in the fulfillment of any such condition or covenant (without regard to any grace period or requirement of notice), specifying each such default known to such Issuer Authorized Officer and the nature and
status thereof. 
 Section 11.05. Legal Existence. The Issuer will do or cause to be done all things
necessary to preserve and keep in full force and effect its legal existence. 
 Section 11.06. Further
Instruments and Acts. Upon request of the Indenture Trustee, the Paying Agent or the Note Registrar, the Issuer will execute and deliver such further 

  
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instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

Section 11.07. Compliance with Laws. The Issuer will comply with the requirements of all applicable laws, the
noncompliance with which would, individually or in the aggregate, materially and adversely affect the ability of the Issuer to perform its obligations under the Notes or this Indenture. 

Section 11.08. Notice of Certain Events. (a) The Issuer agrees to give the Indenture Trustee, the Paying
Agent, the Note Registrar and the Note Rating Agencies prompt written notice of (i) each Event of Default hereunder, (ii) each default on the part of the Transferor of its material obligations under the Transfer Agreement and
(iii) any default of a Derivative Counterparty, in each case, of which the Issuer has knowledge. 
 (b) The Issuer agrees to give the
Servicer prompt written notice of each event described in the subsections 5.01(a), (b), (c) or (d) of the Servicing Agreement of which the Issuer has knowledge. 

(c) The Issuer shall direct the Indenture Trustee and/or the Note Registrar, as the case may be, to give Noteholders a copy of the notice
delivered to the Indenture Trustee by the Servicer pursuant to Section 5.03 of the Servicing Agreement. 

Section 11.09. Certain Negative Covenants. The Issuer will not: 

(a) claim any credit on, or make any deduction from the principal or interest payable in respect of, the Notes (other than amounts withheld in
good faith from such payments under the Internal Revenue Code or other applicable tax law); 
 (b) permit the validity or effectiveness of
this Indenture to be impaired, or permit the lien in favor of the Indenture Trustee, the Noteholders and any applicable Derivative Counterparty created by this Indenture to be amended, hypothecated, subordinated, terminated or discharged, or permit
any Person to be released from any covenants or obligations with respect to the Notes under this Indenture except as may be expressly permitted hereby; 

(c) permit any lien, charge, excise, claim, security interest, mortgage or other encumbrance (other than the lien in favor of the Indenture
Trustee, the Noteholders and any applicable Derivative Counterparty created by this Indenture) to be created on or extend to or otherwise arise upon or burden the Collateral or any part thereof or any interest therein or the proceeds thereof; or

 (d) permit the lien in favor of the Indenture Trustee, the Noteholders and any applicable Derivative Counterparty created by this
Indenture not to constitute a valid first priority security interest in the Collateral; or 
 (e) voluntarily dissolve or liquidate. 

  
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 Section 11.10. No Other Business. The Issuer will not
engage in any business other than as permitted under the Trust Agreement. 
 Section 11.11. No Borrowing.
The Issuer will not issue, incur, assume, guarantee or otherwise become liable, directly or indirectly, for any indebtedness for borrowed money except for the Notes. 

Section 11.12. Rule 144A Information. For so long as any of the Notes of any Series,
Class or Tranche are “restricted securities” within the meaning of Rule 144(a)(3) under the Exchange Act, the Issuer agrees to provide to any Noteholder of such Series, Class or Tranche and to any prospective purchaser of
Notes designated by such Noteholder, upon the request of such Noteholder or prospective purchaser, any information required to be provided to such Holder or prospective purchaser to satisfy the conditions set forth in Rule 144A(d)(4) under the
Exchange Act. 
 Section 11.13. Performance of Obligations; Servicing of Receivables. 

(a) The Issuer hereby covenants and agrees that it will enforce the obligations of the Servicer under the Servicing Agreement and if a
Servicer Default shall arise from the failure of the Servicer to perform any of its duties or obligations under the Servicing Agreement with respect to the Transferred Assets, the Issuer shall take all reasonable actions available to it to remedy
such failure or cause such failure to be remedied; provided, however, that any Servicer Default other than a Servicer Default arising under Section 5.01(a) of the Servicing Agreement may be waived by the
Issuer upon consent of the Noteholders of not less than 662⁄3 of the Outstanding Dollar Principal Amount for the Notes for all Series to which the Servicer Default
relates. 
 (b) Subject to the following sentence, in connection with a termination of the Servicer’s rights and powers pursuant to
Section 5.01 of the Servicing Agreement, if a Successor Servicer has not been appointed and accepted its appointment pursuant to Section 5.02 of the Servicing Agreement at the time when the
previous Servicer ceases to act as Servicer, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer, subject to all the responsibilities, duties and liabilities relating thereto placed on the Servicer by
the terms and provisions hereof, provided, however, that the Indenture Trustee shall not be liable for any actions of any Servicer prior to the Indenture Trustee’s appointment as Successor Servicer. Notwithstanding the preceding
sentence, the Indenture Trustee shall, if it is legally unable or unwilling to so act or if the Majority Holders of all Notes so request in writing to the Indenture Trustee, appoint, or petition a court of competent jurisdiction to appoint, any
servicing institution established in servicing receivables substantially similar to the Transferred Assets as the successor to the Servicer under the Servicing Agreement in the assumption of all or any part of the responsibilities, duties or
liabilities of the Servicer under the Servicing Agreement. The Indenture Trustee may resign as the Successor Servicer by giving written notice of such resignation to the Issuer and in such event will be released from such duties and obligations,
such release not to be effective until the date a Successor Servicer enters into a servicing agreement with the Issuer as provided below. Upon delivery of any such notice to the Issuer, the Issuer shall appoint an Eligible Servicer as the Successor
Servicer under the Servicing 

  
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Agreement. If within thirty (30) days after the delivery of the notice of termination of the Servicer’s right and powers referred to above, the Issuer shall not have obtained such a
Successor Servicer, the Indenture Trustee may appoint, or may petition a court of competent jurisdiction to appoint, a Successor Servicer. In connection with any such appointment, the Indenture Trustee may make such arrangements for the compensation
of such Successor Servicer as the Indenture Trustee and such Successor Servicer shall agree, subject to the limitations set forth below and in the Servicing Agreement. In accordance with Section 5.02 of the Servicing
Agreement, the Issuer shall enter into an agreement with such Successor Servicer for the servicing of the Transferred Assets (such agreement to be in form and substance satisfactory to the Indenture Trustee). If the Indenture Trustee shall succeed
to the previous Servicer’s duties as servicer of the Transferred Assets as provided herein, it shall do so in its individual capacity and not in its capacity as Indenture Trustee and, accordingly, the provisions of
Article VIII, of this Indenture shall be inapplicable to the Indenture Trustee in its duties as the Successor Servicer and the servicing of the Transferred Assets. If the Indenture Trustee shall become the Successor
Servicer under the Servicing Agreement, the Indenture Trustee shall be entitled to appoint any one of its Affiliates as a sub-servicer or agent; provided, that it shall be fully liable for the actions
and omissions of such sub-servicer or agent. If the Indenture Trustee shall act as Successor Servicer, all costs associated with the transfer of servicing shall be paid by the predecessor Servicer. 

(c) Upon any termination of the Servicer’s rights and powers pursuant to the Servicing Agreement, the Issuer shall promptly notify the
Indenture Trustee. As soon as a Successor Servicer is appointed, the Issuer shall notify the Indenture Trustee of such appointment, specifying in such notice the name and address of such Successor Servicer. 

(d) The Issuer shall provide to the Indenture Trustee or its respective designees access to the documentation regarding the Accounts and the
Transferred Assets in such cases where the Indenture Trustee or such designee is required in connection with the enforcement of the rights of the Indenture Trustee, or by applicable statutes or regulations to review such documentation, such access
being afforded without charge but only (i) upon reasonable request, (ii) during normal business hours, (iii) subject to reasonable and customary security and confidentiality procedures and (iv) at offices designated by the
Issuer. Nothing in this Section shall derogate from the obligation of any Person to observe any applicable law prohibiting disclosure of information regarding the Obligors, and the failure of the Issuer to provide access as provided in this Section
as a result of such obligation shall not constitute a breach of this Section. 
 (e) The Issuer hereby covenants and agrees that it shall
deliver a notice to the Transferor of any breach of a representation or warranty set forth in Section 2.04 of the Transfer Agreement if directed to do so by the Indenture Trustee (acting at the direction of Noteholders of
not less than 66-2/3% of the Outstanding Dollar Principal Amount of the Notes for all Series). 
 Section 11.14.
Issuer May Consolidate, Etc., Only on Certain Terms. 
 (a) The Issuer shall not consolidate or merge with or into any other Person,
unless: 

  
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 (1) the Person (if other than the Issuer) formed by or surviving such
consolidation or merger (i) shall be a Person organized and existing under the laws of the United States of America or any state or the District of Columbia, (ii) shall not be subject to regulation as an “investment company”
under the Investment Company Act and (iii) shall expressly assume, by an Indenture Supplement, executed and delivered to the Indenture Trustee, in a form satisfactory to the Indenture Trustee, the due and punctual payment of the principal of
and interest on all Notes and the performance of every covenant of this Indenture on the part of the Issuer to be performed or observed; 

(2) immediately after giving effect to such transaction, no Event of Default or Early Redemption Event shall have occurred and
be continuing; 
 (3) the Issuer shall have delivered to the Indenture Trustee an Officer’s Certificate and an Opinion
of Counsel each stating that (i) such consolidation or merger and such Indenture Supplement comply with this Section 11.14, (ii) all conditions precedent in this Section 11.14 relating to such
transaction have been complied with (including any filing required by the Exchange Act), and (iii) such Indenture Supplement is duly authorized, executed and delivered and is valid, binding and enforceable against such person; 

(4) the Rating Agency Condition shall be satisfied with respect to such consolidation or merger; 

(5) the Issuer shall have received an Issuer Tax Opinion (and shall have delivered copies thereof to the Indenture Trustee);

 (6) any action that is necessary to maintain the lien and security interest created by this Indenture shall have been
taken; and 
 (7) such action shall not be contrary to the status of the Issuer as a qualified special purpose entity under
existing accounting literature. 
 (b) The Issuer shall not convey or transfer any of its properties or assets, including those included in
the Collateral, substantially as an entirety to any Person, unless: 
 (1) the Person that acquires by conveyance or transfer
the properties and assets of the Issuer the conveyance or transfer of which is hereby restricted shall (A) be a United States citizen or a Person organized and existing under the laws of the United States of America or any state or the District
of Columbia, (B) expressly assume, by an Indenture Supplement, executed and delivered to the Indenture Trustee, in form satisfactory to the Indenture Trustee, the due and punctual payment of the principal of and interest on all Notes and the
performance or observance of every agreement and covenant of this Indenture on the part of the Issuer to be performed or observed, all as provided herein, (C) expressly agree by means of such Indenture Supplement that all right, title and
interest so conveyed or transferred shall be subject and subordinate to the rights of Holders of the Notes, (D) unless otherwise provided in such Indenture 

  
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Supplement, expressly agree to indemnify, defend and hold harmless the Issuer against and from any loss, liability or expense arising under or related to this Indenture and the Notes,
(E) expressly agree by means of such Indenture Supplement that such Person (or if a group of Persons, then one specified Person) shall make all filings with the Commission (and any other appropriate Person) required by the Exchange Act in
connection with the Notes and (F) not be an “investment company” as defined in the Investment Company Act; 

(2) immediately after giving effect to such transaction, no Event of Default or Early Redemption Event shall have occurred and
be continuing; 
 (3) the Rating Agency Condition shall be satisfied with respect to such conveyance or transfer; 

(4) the Issuer shall have received an Issuer Tax Opinion (and shall have delivered copies thereof to the Indenture Trustee);

 (5) any action that is necessary to maintain the lien and security interest created by this Indenture shall have been
taken; and 
 (6) the Issuer shall have delivered to the Indenture Trustee an Officer’s Certificate and an Opinion of
Counsel each stating that such conveyance or transfer and such Indenture Supplement comply with this Section 11.14 and that all conditions precedent herein provided for relating to such transaction have been complied with
(including any filing required by the Exchange Act). 
 Section 11.15. Successor Substituted. Upon any
consolidation or merger, or any conveyance or transfer of the properties and assets of the Issuer substantially as an entirety in accordance with Section 11.14 hereof, the Person formed by or surviving such consolidation or
merger (if other than the Issuer) or the Person to which such conveyance or transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such Person
had been named as the Issuer herein. In the event of any such conveyance or transfer, the Person named as the Issuer in the first paragraph of this Indenture or any successor which shall theretofore have become such in the manner prescribed in this
Section 11.15 shall be released from its obligations under this Indenture as issued immediately upon the effectiveness of such conveyance or transfer, provided that the Issuer shall not be released from any
obligations or liabilities to the Indenture Trustee, Paying Agent, Note Registrar or the Noteholders arising prior to such effectiveness. 

Section 11.16. Guarantees, Loans, Advances and Other Liabilities. Except as contemplated by this Indenture or
the Trust Agreement, the Issuer shall not make any loan or advance or credit to, or guarantee (directly or indirectly or by an instrument having the effect of assuring another’s payment or performance on any obligation or capability of so doing
or otherwise), endorse or otherwise become contingently liable, directly or indirectly, in connection with the obligations, stocks or dividends of, or own, purchase, repurchase or acquire (or agree 

  
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contingently to do so) any stock, obligations, assets or securities of, or any other interest in, or make any capital contribution to, any other Person. 

Section 11.17. Capital Expenditures. The Issuer shall not make any expenditure (by long-term or operating
lease or otherwise) for capital assets (either realty or personalty). 
 Section 11.18. Restricted
Payments. The Issuer shall not, directly or indirectly, (i) pay any dividend or make any distribution (by reduction of capital or otherwise), whether in cash, property, securities or a combination thereof, to the Owner Trustee or any owner
of a beneficial interest in the Issuer or otherwise with respect to any ownership or equity interest or security in or of the Issuer or to the Servicer, (ii) redeem, purchase, retire or otherwise acquire for value any such ownership or equity
interest or security or (iii) set aside or otherwise segregate any amounts for any such purpose; provided, however, that the Issuer may make, or cause to be made, (x) distributions as contemplated by, and to the extent funds
are available for such purpose under, the Indenture or the Trust Agreement and (y) payments to the Indenture Trustee pursuant to Section 8.07 hereof and payments to the Paying Agent and the Note Registrar pursuant to
Section 17.02 hereof. The Issuer will not, directly or indirectly, make payments to or distributions from the Collection Account or the Excess Funding Account except in accordance with this Indenture or any Indenture
Supplement. 

  
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 ARTICLE XII 

EARLY REDEMPTION OF NOTES 

Section 12.01. Applicability of Article. Unless otherwise specified in the applicable Indenture Supplement
related to a Series, Class or Tranche of Notes, pursuant to the terms of this Article XII, the Issuer will redeem and pay, to the extent that funds are available, each affected Series, Class or Tranche of Notes upon the occurrence
of any Early Redemption Event. Unless otherwise specified in the applicable Indenture Supplement relating to a Series, Class or Tranche of Notes, or in the form of Notes for such Series, Class or Tranche, the following are each an
“Early Redemption Event”: 
 (a) with respect to any Tranche of Notes, the occurrence of the Expected Principal Payment Date
of such Note; 
 (b) the Transferor shall become unable for any reason to transfer Receivable in accordance with the provisions of
subsection 2.06(a) of the Transfer Agreement, or WFBNA shall become unable for any reason to transfer such Receivable to Funding in accordance with the provisions of the Receivables Purchase Agreement; 

(c) The Issuer becomes subject to regulation by the Commission as an “investment company” within the meaning of the Investment
Company Act; 
 (d) an Insolvency Event shall occur with respect to WFBNA; 

(e) an Insolvency Event shall have occurred with respect to the Transferor; or 

(f) with respect to any Series, Class or Tranche of Notes, any additional Series Early Redemption Event specified in the Indenture
Supplement for such Series, Class or Tranche as applying to such Series, Class or Tranche; 
 The redemption price of a Tranche of
Notes so redeemed will equal the Outstanding principal amount of such Tranche, plus interest accrued and unpaid to but excluding the date of redemption, the payment of which will be subject to Article V,
Article VII and the allocations, deposits and payments sections of the related Indenture Supplement. 
 If the
Issuer is unable to pay the redemption price in full on the Principal Payment Date following the end of the Monthly Period in which the Early Redemption Event occurs, monthly payments on such Tranche of Notes will thereafter be made on each
following Principal Payment Date until the Outstanding principal amount of such Tranche, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to Article V,
Article VII and the allocations, deposits and payments sections of the related Indenture Supplement. Any funds in any Supplemental Account for a redeemed Tranche will be applied to make the principal and interest payments
on that Tranche on the redemption date, 

  
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subject to Article V, Article VII and the allocations, deposits and payments sections of the related Indenture Supplement. Principal payments
on redeemed Tranches will be made first to the senior-most Notes until paid in full, then to the Subordinated Notes until paid in full. 

Section 12.02. Optional Repurchase. Unless otherwise provided in the applicable Indenture Supplement for a
Series, Class or Tranche of Notes, the Transferor (if the Transferor is the Servicer or an Affiliate of the Servicer) has the right, but not the obligation, to redeem a Series, Class or Tranche of Notes in whole but not in part on any day
on or after the day on which the Aggregate Nominal Liquidation Amount of such Series, Class or Tranche is reduced to less than 5% of its Initial Dollar Principal Amount; provided, however, that if such Series, Class or
Tranche of Notes is of a Subordinated Class, the Transferor will not redeem such Notes if the provisions of the related Indenture Supplement would prevent the payment of such Subordinated Note until a level of prefunding of the Principal Funding sub-Accounts for the Senior Classes of Notes for that Series has been reached such that the amount of such deficiency in the required subordination of a Senior Class of Notes is no longer required to provide
subordination protection for the Senior Classes of that Series. If the Transferor elects to redeem a Series, Class or Tranche of Notes, it will cause the Issuer to notify the Noteholders of such redemption at least thirty (30) days prior
to the redemption date. The redemption price of a Series, Class or Tranche so redeemed will equal the Outstanding principal amount of such Tranche, plus interest accrued and unpaid or principal accreted and unpaid on such Tranche to but
excluding the date of redemption. 
 If the Transferor is unable to pay the redemption price in full on the redemption date, monthly
payments on such Tranche of Notes will thereafter be made until the Outstanding principal amount of such Tranche, plus all accrued and unpaid interest, is paid in full or the Legal Maturity Date occurs, whichever is earlier, subject to
Article V, Article VII and the allocations, deposits and payments sections of the related Indenture Supplement. 

Section 12.03. Notice. Promptly after the occurrence of any Early Redemption Event or receipt of a notice of
a redemption pursuant to Section 12.02, the Issuer will notify the Indenture Trustee, the Note Registrar, the Paying Agent and the Note Rating Agencies in writing of the identity, Stated Principal Amount and Outstanding
Dollar Principal Amount of the affected Series, Class or Tranche of Notes to be redeemed. Notice of redemption will promptly be given as provided in Section 1.06. All notices of redemption will state (a) the date
on which the redemption of the applicable Series, Class or Tranche of Notes pursuant to this Article XII will begin, which will be the Principal Payment Date next following the end of the Monthly Period in which the applicable Early
Redemption Event or redemption pursuant to Section 12.02 occurs, (b) the redemption price for such Series, Class or Tranche of Notes, which will be equal to the Outstanding principal amount of such Series,
Class or Tranche plus interest accrued or principal accreted and unpaid (if any), the payment of which will be subject to Article V, Article VII and the allocations, deposits and payments
sections of the related Indenture Supplement and (c) the Series, Class or Tranche of Notes to be redeemed pursuant to this Article XII. 

  
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 ARTICLE XIII 

COLLATERAL 

Section 13.01. Recording and Other Items. 

(a) The Issuer intends the Security Interest granted pursuant to this Indenture in favor of the Indenture Trustee to be prior to all other
liens in respect of the Collateral. Subject to Section 13.02, the Issuer will take all actions necessary to obtain and maintain a perfected lien on and security interest in the Collateral in favor of the Indenture Trustee.
The Issuer will from time to time execute and deliver all such supplements and amendments hereto and all such financing statements, continuation statements, instruments of further assurance and other instruments, all as prepared by the Issuer, and
will take such other action necessary or advisable to: 
 (i) grant a Security Interest more effectively in all or any
portion of the Collateral; 
 (ii) maintain or preserve the Security Interest (and the priority thereof) created by this
Indenture or carry out more effectively the purposes hereof; 
 (iii) perfect, publish notice of or protect the validity of
any grant made or to be made by this Indenture; 
 (iv) enforce the Derivative Agreements and each other instrument or
agreement included in the Collateral; 
 (v) preserve and defend title to the Collateral and the rights of the Indenture
Trustee in such Collateral against the claims of all persons and parties; or 
 (vi) pay all taxes or assessments levied or
assessed upon the Collateral when due. 
 (b) The Issuer will from time to time promptly pay and discharge all financing and continuation
statement recording and/or filing fees, charges and taxes relating to this Indenture, any amendments thereto and any other instruments of further assurance. The Issuer hereby designates the Indenture Trustee its agent and attorney-in-fact to execute upon the Issuer’s failure to do so, any financing statement, continuation statement or other instrument required by the Indenture Trustee
pursuant to this Section 13.01. 
 (c) Without limiting the generality of clauses (a) or (b): 

(i) The Issuer will cause this Indenture, all amendments and supplements hereto and/or all financing statements and
continuation statements and any 

  
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other necessary documents covering the Indenture Trustee’s right, title and interest to the Collateral to be promptly recorded, registered and filed, and at all times to be kept, recorded,
registered and filed, all in such manner and in such places as may be required by law fully to preserve and protect the right, title and interest of the Indenture Trustee to all property comprising the Collateral. The Issuer will deliver to the
Indenture Trustee file-stamped copies of, or filing receipts for, any document recorded, registered or filed as provided above, as soon as available following such recording, registration or filing. 

(ii)    Within 30 days after the Issuer makes any change in its name, identity or corporate structure which
would make any financing statement or continuation statement filed in accordance with paragraph (d)(i) seriously misleading within the meaning of Section 9-506 (or any comparable provision) of the
UCC, the Issuer will give the Indenture Trustee notice of any such change and will file such financing statements or amendments as may be necessary to continue the perfection of the Indenture Trustee’s security interest in the Collateral. 

(d)    The Issuer will give the Indenture Trustee prompt notice of any relocation of its chief executive office, place of
business or State of location, and any change in the jurisdiction of its organization, and whether, as a result of such relocation or change, the applicable provision of the UCC would require the filing of any amendment of any previously filed
financing or continuation statement or of any new financing statement and will file such financing statements or amendments as may be necessary to perfect or to continue the perfection of the Indenture Trustee’s security interest in the
Collateral. The Issuer will at all times maintain its chief executive office within the United States. 
 (e)    The
duty of the Indenture Trustee to execute any instrument required pursuant to this Section 13.01 will arise only if the Indenture Trustee has actual knowledge of the type described in
subsection 7.01(c) of any default of the Issuer in complying with the provisions of this Section 13.01. 

Section 13.02.    Trust Indenture Act Requirements. The release of any Collateral from the lien
created by this Indenture or the release of, in whole or in part, such liens, will not be deemed to impair the Security Interests in contravention of the provisions hereof if and to the extent the Collateral or liens are released pursuant to the
terms hereof. The Indenture Trustee and each of the Noteholders and any applicable Derivative Counterparty acknowledge that a release of Collateral or liens strictly in accordance with the terms hereof will not be deemed for any purpose to be an
impairment of the Security Interests in contravention of the terms of this Indenture. To the extent applicable, without limitation, the Issuer and each other obligor on the Notes will cause Section 314(d) of the Trust Indenture Act relating to
the release of property or securities from the liens hereof to be complied with. Any certificate or opinion required by Section 314(d) of the Trust Indenture Act may be made by an officer of the appropriate obligor, except in cases in which
Section 314(d) of the Trust Indenture Act requires that such certificate or opinion be made by an independent person. 

Section 13.03.    Suits to Protect the Collateral. Subject to the provisions of this
Indenture, the Indenture Trustee will have power to institute and to maintain such suits and 

  
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proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts which may be unlawful or in violation of this Indenture, and such suits and proceedings as the
Indenture Trustee may deem expedient to preserve or protect the interests of the Noteholders and any applicable Derivative Counterparty and the interests of the Indenture Trustee and the Holders of the Notes in the Collateral (including power to
institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with,
such enactment, rule or order would impair the Security Interests or be prejudicial to the interests of the Holders of the Notes or the Indenture Trustee). No counterparties to a Derivative Agreement may direct the Indenture Trustee to enforce the
Security Interest. Each Derivative Counterparty’s rights consist solely of the right to receive Collections allocated for its benefit pursuant to the related Indenture Supplement. 

Section 13.04. Purchaser Protected. In no event will any purchaser in good faith of any property purported to
be released hereunder be bound to ascertain the authority of the Indenture Trustee to execute the release or to inquire as to the satisfaction of any conditions required by the provisions hereof for the exercise of such authority or to see to the
application of any consideration given by such purchaser or other transferee; nor will any purchaser or other transferee of any property or rights permitted by this Article XIII to be sold be under any obligation to ascertain or inquire into
the authority of the Issuer or any other obligor, as applicable, to make any such sale or other transfer. 

Section 13.05. Powers Exercisable by Receiver or Indenture Trustee. In case the Collateral shall be in the
possession of a receiver or trustee, lawfully appointed, the powers conferred in this Article XIII upon the Issuer or any other obligor, as applicable, with respect to the release, sale or other disposition of such property may be exercised
by such receiver or trustee, and an instrument signed by such receiver or trustee shall be deemed the equivalent of any similar instrument of the Issuer or any other obligor, as applicable, or of any officer or officers thereof required by the
provisions of this Article XIII. 
 Section 13.06. Determinations Relating to Collateral. In the
event (i) the Indenture Trustee shall receive any written request from the Issuer or any other obligor for consent or approval with respect to any matter or thing relating to any Collateral or the Issuer’s or any other obligor’s
obligations with respect thereto or (ii) there shall be due to or from the Indenture Trustee under the provisions hereof any performance or the delivery of any instrument or (iii) the Indenture Trustee shall become aware of any
nonperformance by the Issuer or any other obligor of any covenant or any breach of any representation or warranty of the Issuer or any other obligor set forth in this Indenture, then, in each such event, the Indenture Trustee shall be entitled to
hire experts, consultants, agents and attorneys to advise the Indenture Trustee on the manner in which the Indenture Trustee should respond to such request or render any requested performance or response to such nonperformance or breach (the
expenses of which will be reimbursed to the Indenture Trustee pursuant to Section 8.07). The Indenture Trustee will be fully protected in the taking of any action recommended or approved by any such expert, consultant,
agent or attorney or agreed to by the Majority Holders of the Outstanding Notes. 

  
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 Section 13.07. Release of Collateral. 

(a) (i) Subject to the payment of its fees, expenses and indemnities pursuant to Section 8.07 and the provisions in
subsection (ii) below, the Indenture Trustee will, at the request of the Issuer or when otherwise required by the provisions of this Indenture, execute instruments to release property from the Lien of this Indenture, or convey the Indenture
Trustee’s interest in the same, in a manner and under circumstances which are not inconsistent with the provisions of this Indenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article XIII
will be bound to ascertain the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any funds. 

    (ii) The Beneficiary and the Noteholders will be entitled to receive at least ten (10) days’ written notice
when the Indenture Trustee proposes to take any action pursuant to subsection (a)(i) above, accompanied by copies of any instruments involved, and the Indenture Trustee will also be entitled to require, as a condition to such action, an Opinion of
Counsel, stating the legal effect of any such action, outlining the steps required to complete the same, and concluding that all conditions precedent to the taking of such action have been complied with (counsel rendering any such opinion may rely,
without independent investigation, on the accuracy and validity of any certificate or other instrument delivered to the Indenture Trustee in connection with any such action). 

(b) Upon delivery of an Officer’s Certificate certifying that the Issuer’s obligations under this Indenture have been satisfied and
discharged by complying with the provisions of Article XI, the Indenture Trustee will (i) execute and deliver such releases, termination statements and other instruments (in recordable form, where appropriate) as the Issuer or any other
obligor, as applicable, may reasonably request evidencing the termination of the Lien of this Indenture and (ii) not to be deemed to hold the Security Interests for the benefit of the Indenture Trustee, the Noteholders and any applicable
Derivative Counterparty. 
 (c) On the date any Account becomes a Defaulted Account, the Indenture Trustee, automatically and without
further action or consideration releases the Receivables in such Defaulted Account (and any related Finance Charge Receivables) from the Lien of this Indenture, to allow the Assignment of such Receivables (and any related Finance Charge Receivables)
to the Servicer, solely for the purpose of collection, by the Issuer pursuant to Section 2.11 of the Servicing Agreement. For the avoidance of doubt, this release of Receivables in a Defaulted Account (and any related
Finance Charge Receivables) from the Lien of this Indenture pursuant to this subsection 13.07(c) is automatic and does not require compliance with any conditions otherwise applicable to the release of Collateral otherwise contained in this
Indenture. 
 (d) On the date any Receivable is to be reassigned by the Issuer to the Transferor pursuant to subsection 2.04(d),
2.04(e), or Section 2.07 of the Transfer Agreement the Indenture Trustee, automatically and without further action or consideration releases such Receivable (and any related Finance Charge Receivables) from the Lien
of this Indenture, to allow the reassignment of such Receivable (and any related Finance Charge Receivables) as 

  
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provided for under the Transfer Agreement. For the avoidance of doubt, this release of such Receivables (and any related Finance Charge Receivables) from the Lien of this Indenture pursuant to
this subsection 13.07(d) is automatic and does not require compliance with any conditions otherwise applicable to the release of Collateral otherwise contained in this Indenture. 

Section 13.08. Certain Actions by Indenture Trustee. Any action taken by the Indenture Trustee pursuant to
this Article XIII in respect of the release of Collateral will be taken by the Indenture Trustee as its interest in such Collateral may appear, and, except as is expressly stated herein, no provision of this Article XIII is intended
to, or will, excuse compliance with any provision hereof. 
 Section 13.09. Opinions as to Collateral. 

(a) On the Effective Date, the Issuer will furnish to the Indenture Trustee an Opinion of Counsel either stating that, in the opinion of such
counsel, such action has been taken with respect to the recording and filing of this Indenture, any indentures supplemental hereto, and any other requisite documents, and with respect to the execution and filing of any financing statements and
continuation statements, as are necessary to perfect and maintain the perfection of the Security Interest granted by this Indenture in favor of the Indenture Trustee and reciting the details of such action, or stating that, in the opinion of such
counsel, no such action is necessary to make such lien and security interest perfected. 
 (b) On or before [________ __] in each calendar
year, beginning in 20[__], the Issuer will furnish to the Indenture Trustee an Opinion of Counsel with respect to each Uniform Commercial Code financing statement which has been filed by the Issuer either stating that, (i) in the opinion of
such counsel, such action has been taken with respect to the recording, filing, re- recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and with
respect to the execution and filing of any financing statements and continuation statements as is necessary to maintain the first priority lien and Security Interest created by this Indenture and reciting the details of such action or (ii) in
the opinion of such counsel no such action is necessary to maintain such lien and Security Interest. Such Opinion of Counsel will also describe the recording, filing, re-recording and refiling of this
Indenture, any indentures supplemental hereto and any other requisite documents and the execution and filing of any financing statements and continuation statements that will, in the opinion of such counsel, be required to maintain the lien and
Security Interest of this Indenture until [________ __] in the following calendar year. 
 Section 13.10.
Delegation of Duties. The Issuer may contract with or appoint other Persons (including the Beneficiary and its Affiliates) to assist it in performing its duties under this Indenture, and any performance of such duties by a Person identified
to the Indenture Trustee in an Officer’s Certificate will be deemed to be action taken by the Issuer. 

  
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 ARTICLE XIV 

COMPLIANCE WITH REGULATION AB 

Section 14.01. Intent of the Parties; Reasonableness. Each of the Issuer, the Paying Agent, the Note
Registrar and the Indenture Trustee acknowledge that the purpose of this Article XIV is to facilitate compliance with the provisions of Regulation AB and related rules and regulations of the Commission. The Issuer shall not
exercise its right to request delivery of information or other performance under these provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act and the rules and regulations of the
Commission thereunder (or the delivery in connection with a private offering of information or other performance comparable to that required thereunder). Each of the Paying Agent, the Note Registrar and the Indenture Trustee shall cooperate fully
with the Issuer to deliver to the Issuer, the Transferor, and the Servicer (including any of their respective assignees or designees), any and all statements, reports, certifications, records, and any other information necessary in the good faith
determination of the Issuer to permit compliance with the provisions of Regulation AB, including Items 1100(d)(1), 1103(a)(1), 1109(a)(1), 1109(a)(2), 1117, 1118, 1119, 1122 and 1123 of Regulation AB, as and to the extent it relates to each of the
Paying Agent, the Note Registrar and the Indenture Trustee or to its respective obligations under this Indenture or any Indenture Supplement, and to the extent that any such statements, reports, certifications, records and any other information is
in the possession of the Paying Agent, the Note Registrar and the Indenture Trustee, as applicable. 

Section 14.02. Additional Representations and Warranties of the Paying Agent, the Note Registrar and the
Indenture Trustee. Each of the Paying Agent, the Note Registrar and the Indenture Trustee shall be deemed to represent to the Issuer, the Transferor, and the Servicer, as of the date on which information is provided to the Issuer, the
Transferor, and the Servicer under Section 14.03 that, except as disclosed in writing to the Issuer, the Transferor, and the Servicer prior to such date: (i) neither the execution or the delivery by the Paying Agent,
the Note Registrar or the Indenture Trustee, as applicable, of this Indenture or any Indenture Supplement, the performance by it of its obligations under this Indenture or any Indenture Supplement nor the consummation of any of the transactions by
it contemplated thereby, is in violation of any indenture, mortgage, bank credit agreement, note or bond purchase agreement, long-term lease, license or other agreement or instrument to which it is a party or
by which it is bound, which violation would have a material adverse effect on its ability to perform its obligations under this Indenture or any Indenture Supplement, or of any judgment or order applicable to it; and (ii) there are no
proceedings pending or threatened against the Paying Agent, the Note Registrar or the Indenture Trustee, as applicable, in any court or before any governmental authority, agency or arbitration board or tribunal that, individually or in the
aggregate, would have a material adverse effect on its right, power and authority to enter into this Indenture or any Indenture Supplement or to perform its obligations under this Indenture or any Indenture Supplement, or that are otherwise material
to Noteholders. 
 Section 14.03. Information to Be Provided by the Paying Agent, the Note Registrar and the
Indenture Trustee. 

  
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 (a) Each of the Paying Agent, the Note Registrar and the Indenture Trustee shall
(i) on or before the final Business Day of each month, provide to the Issuer, the Transferor, and the Servicer in writing, such information regarding itself as is requested for the purpose of compliance with Item 1117 of Regulation AB, and
(ii) as promptly as practicable following notice to or discovery by it of any changes to such information, provide to the Issuer, the Transferor, and the Servicer, in writing, such updated information. 

(b) Each of the Paying Agent, the Note Registrar and the Indenture Trustee shall (i) on or before the final Business Day of each
January, April, July and October, provide to the Issuer, the Transferor, and the Servicer such information regarding itself as is requested for the purpose of compliance with Items 1100(d)(1), 1103(a)(1), 1109(a)(1), 1109(a)(2), 1118 and 1119
of Regulation AB, as applicable, and (ii) as promptly as practicable following notice to or discovery by it of any changes to such information, provide to the Issuer, the Transferor, and the Servicer, in writing, such updated information. Such
information shall include, at a minimum: 
 (A) the name and form of organization of the Paying Agent, the Note Registrar or
the Indenture Trustee, as applicable; 
 (B) a description of the extent to which it has had prior experience serving as a
paying agent or trustee, respectively, for asset-backed securities transactions involving credit card receivables; 

(C) a description of any affiliation or relationship between the Paying Agent, the Note Registrar or the Indenture Trustee, as
applicable, and any of the following parties to a Securitization Transaction, as such parties are identified to it by the Issuer or the Transferor in writing in advance of such Securitization Transaction: 

 

	 	(1)	 the sponsor; 

	 	(2)	 any depositor; 

	 	(3)	 the issuing entity; 

	 	(4)	 any servicer; 

	 	(5)	 any trustee; 

	 	(6)	 any originator; 

	 	(7)	 any significant obligor; 

	 	(8)	 any enhancement or support provider; 

	 	(9)	 any asset representations reviewer; and 

	 	(10)	 any other material transaction party. 

In connection with the above-listed parties, a description of whether there is, and if so the general
character of, any business relationship, agreement, arrangement, transaction or understanding that is entered into outside the ordinary course of business or is on terms other than would be obtained in an arm’s length transaction with an
unrelated third party, apart from the asset-backed securities 

  
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transaction, that currently exists or that existed during the past two years and that is material to an investor’s understanding of the asset-backed
securities; and 
 (D) such other information as the Issuer may reasonably request for the purpose of compliance with
Regulation AB. 
 Section 14.04. Report on Assessment of Compliance and Attestation. On or before the 60th
day following the end of each fiscal year for the Issuer, (x) in the case of the Paying Agent beginning with the end of fiscal year 20[__] and (y) in the case of the Indenture Trustee, with respect to the end of any fiscal year during
which it actually performed any activity in furtherance of its obligations under this Indenture or any Indenture Supplement that addresses the Servicing Criteria (which, in the absence of contrary authority (including, but not limited to, guidance
from the Securities and Exchange Commission or its staff), would be expected to occur only in certain instances following an Event of Default), each of the Paying Agent and the Indenture Trustee, as applicable, shall: 

(a) deliver to the Issuer, the Transferor and the Servicer a report regarding its assessment of compliance with the Servicing
Criteria during the immediately preceding fiscal year of the Issuer, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such
report shall be addressed to the Issuer and the Transferor and signed by a Responsible Officer of the Paying Agent or the Indenture Trustee, as applicable, and shall address each of the Servicing Criteria specified in Exhibit B hereto or such
criteria as mutually agreed upon by the Issuer and the Paying Agent or the Indenture Trustee, as applicable; 
 (b) deliver
to the Issuer, the Transferor and the Servicer a report of a registered public accounting firm reasonably acceptable to the Issuer that attests to, and reports on, the assessment of compliance made by the Paying Agent or the Indenture Trustee, as
applicable, and delivered pursuant to the preceding paragraph. Such attestation report shall be in accordance with Rules 13a-18 and 15d-18 of the Exchange Act and Item
1122 of Regulation AB; provided, however, that the assessment of compliance required by paragraph (a) of this subsection and the attestation report required by this paragraph may be replaced, with the consent of the Issuer, by any
similar assessment of compliance or attestation report using standards which are now or in the future in use by paying agents, or trustees, as applicable, in respect of comparable assets or which otherwise comply with any rule, regulation, “no-action” letter or similar guidance promulgated by the Commission; 
 (c)
deliver to the Issuer, the Transferor and the Servicer, in furtherance of Item 1122(c) of Regulation AB, written information sufficient to allow the Transferor or the Servicer, in cases where the Paying Agent or the Indenture Trustee, as applicable,
identifies any material instance of noncompliance with the Servicing Criteria in the report delivered pursuant to paragraph (a) of this subsection, to disclose in the related annual report on Form 10-K
whether such 

  
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material instance of noncompliance relates to the Receivables or the Notes and whether and to what extent the Paying Agent or the Indenture Trustee, as applicable, has instituted steps to
remediate each such material instance of noncompliance; and 
 (d) deliver to the Issuer, the Transferor and any other Person
that will be responsible for signing the certification (a “Sarbanes Certification”) required by Rules 13a-14(d) and 15d-14(d) under the Exchange Act
(pursuant to Section 302 of the Sarbanes-Oxley Act of 2002) on behalf of the Issuer or the Transferor with respect to a Securitization Transaction a certification, signed by any Vice President or more
senior officer of the Paying Agent or the Indenture Trustee, as applicable, substantially in the form attached hereto as Exhibit C or such form as mutually agreed upon by the Issuer and the Paying Agent or the Indenture Trustee, as
applicable. 
 Each of the Paying Agent and the Indenture Trustee acknowledges that each of the parties identified in paragraph (d) of this subsection
may rely on the certification provided by it pursuant to such paragraph in signing its own Sarbanes Certification and filing such with the Commission. 

Section 14.05. Investor Communication. In the event any of the Issuer, the Paying Agent, the Note Registrar,
or the Indenture Trustee receives a request from any Person to communicate with a Note Owner, the Issuer, the Paying Agent, the Note Registrar, or the Indenture Trustee, as applicable, shall promptly report such request to the Transferor and the
Servicer, and shall provide: the name of the Person making such request; the date it received such request; to the extent known, a description of the method Note Owners may use to contact the Person making such request; and copies of any
documentation it receives in connection with such request that serves to verify the identity of the Person making such request as a Note Owner. 

Section 14.06. Noteholder Action to Initiate an Asset Representations Review. 

(a) Within 90 days following the date on which the Transferor or the Servicer, on behalf of the Issuer, discloses in a distribution report on
Form 10-D the occurrence of a Delinquency Trigger pursuant to subsection 6.01(a) of the Transfer Agreement or subsection 8.01(a) of the Servicing Agreement, respectively, Holders of Notes holding
at least 5% of the aggregate unpaid principal amount of all outstanding Notes may submit a written petition to the Issuer and the Indenture Trustee directing that a vote be taken on whether to initiate an Asset Representations Review. For the
avoidance of doubt, for so long as a Delinquency Trigger has occurred and is continuing, a new 90-day petition period shall commence each month, beginning on the date on which the Transferor or the Servicer,
on behalf of the Issuer, discloses in the related distribution report on Form 10-D that the Delinquency Trigger is continuing. 

(b) If the Noteholders submit a written petition directing that a vote be taken in accordance with subsection 14.06(a), then the
Indenture Trustee shall (i) promptly provide written notice of such direction to the Issuer, the Transferor, and the Servicer, and to all Noteholders by delivering notice of such direction to the Noteholders at their addresses

  
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appearing on the Note Register and (ii) conduct a solicitation of votes of the Noteholders to initiate a review, which solicitation of votes shall occur within 90 days of the delivery of
such Noteholder notice by the Indenture Trustee. In connection with such vote taken in accordance with subsection 14.06(a), the Note Registrar shall provide such information as the Indenture Trustee shall reasonably request in order to conduct such
vote. If (x) a vote in which an Asset Review Quorum participates occurs within such 90-day period and (y) Noteholders holding more than 50% of the aggregate unpaid principal amount of all outstanding
Notes casting a vote direct that a review be undertaken, then the Indenture Trustee shall promptly provide written notice to the Issuer, the Transferor, and the Servicer, and to the Noteholders in the same manner as described above. 

(c) Notwithstanding any provisions of this Article XIV to the contrary, and subject to the additional requirements and conditions set
forth in this Article XIV, for so long as a petition to direct that a vote be taken, a vote itself, or an Asset Representations Review is underway in accordance with subsection 14.06(a), subsection 14.06(b), or the terms of the
Asset Representations Review Agreement, respectively, the Noteholders may not initiate another petition, vote, or Asset Representations Review unless and until such prior petition, vote, or Asset Representations Review is completed. For purposes of
this subsection 14.06(c): 
 (i) a petition will be considered completed only (A) if the petition does not
result in a vote, (B) if a vote occurs, such vote does not result in an Asset Representations Review, or (C) if an Asset Representations Review occurs, at such time as the Transferor or the Servicer, on behalf of the Issuer, includes a
summary of the Asset Representations Reviewer’s final report setting out the findings of its Asset Representations Review in a distribution report on Form 10-D; 

(ii) a vote will be considered completed only (A) if the vote does not result in an Asset Representations Review or
(B) if an Asset Representations Review occurs, at such time as the Transferor or the Servicer, on behalf of the Issuer, includes a summary of the Asset Representations Reviewer’s final report setting out the findings of its Asset
Representations Review in a distribution report on Form 10-D; and 
 (iii) an Asset
Representations Review will be considered completed only at such time as the Transferor or the Servicer, on behalf of the Issuer, includes a summary of the Asset Representations Reviewer’s final report setting out the findings of its Asset
Representations Review in a distribution report on Form 10-D. 

  
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 ARTICLE XV 

COMPLIANCE WITH THE FDIC RULE 

Section 15.01 Purpose. 

(a) Each of the Issuer and the Indenture Trustee, and each of the Noteholders by acceptance of a Note, acknowledges and agrees that the
purpose of this Article XV and the FDIC Rule Requirements incorporated herein and in the other Transaction Documents to the extent set forth therein is to cause the securitizations contemplated by the Transaction Documents to comply with the
provisions of the FDIC Rule. 
 (b) If any provision of the FDIC Rule or the FDIC Rule Interpretations is amended, or any interpretive
guidance regarding the FDIC Rule or FDIC Rule Interpretations is provided by the FDIC or its staff, as a result of which the Issuer determines that an amendment to this Article XV or the FDIC Rule Requirements is necessary or desirable, then
the Issuer and the Indenture Trustee shall be authorized and entitled to amend this Article XV or the FDIC Rule Requirements within the parameters of the FDIC Rule and the FDIC Rule Interpretations. Nothing in this subsection 15.01(b)
shall limit the rights of the Indenture Trustee pursuant to subsection 10.03. 
 Section 15.02.
Performance of the FDIC Rule Requirements. Schedule I is expressly incorporated in this Indenture. The Issuer agrees to perform the obligations set forth in Schedule I, except to the extent any such obligation is specifically
imposed exclusively upon the servicer or the sponsor. 
 Section 15.03. Actions upon Repudiation. 

(a) In the event that WFBNA becomes the subject of an insolvency proceeding and the FDIC as receiver or conservator for WFBNA exercises its
right of repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule, the Issuer shall determine whether the FDIC in such capacity will pay damages as provided in such paragraph (d)(4)(ii). Upon making such determination, the Issuer shall
promptly, and in any event no more than one Business Day thereafter, so notify the Indenture Trustee. 
 (b) Upon receipt of the notice
specified in subsection 15.03(a), the Indenture Trustee shall determine the date (the “applicable payment date”) for making a distribution to Noteholders of the related Series, Class or Tranche of Notes of such damages, which
date shall be the earlier of (i) the next Payment Date on which such damages could be distributed and (ii) the earliest practicable date by which the Indenture Trustee could declare a special payment date, in each case subject to all
applicable provisions of this Indenture, applicable law and the procedures of any applicable Depository. 
 (c) When the applicable payment
date is determined, the Issuer shall promptly compute the amount of interest to be paid on the related Series, Class or Tranche of Notes on the applicable payment date pursuant to the applicable Indenture Supplement. The Issuer shall cause

  
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the Servicer to notify the Paying Agent and the Indenture Trustee of the applicable amounts of principal and interest to be paid on each Series of Notes not later than the Business Day following
the day on which the applicable payment date is determined. 
 (d) If the applicable payment date is a special payment date, the Indenture
Trustee shall (i) declare such special payment date, (ii) declare a special distribution to the related Noteholders consisting of accrued and unpaid interest on each such Note and the Outstanding Dollar Principal Amount of each such Note
and (iii) deliver notice to the Paying Agent and the Noteholders of such special payment date and special distribution. 

Section 15.04. Notice. 

(a) In the event that WFBNA becomes the subject of an insolvency proceeding and the FDIC as receiver or conservator provides a written notice
of repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule to the Issuer or the Indenture Trustee, the party receiving such notice shall promptly deliver such notice to each of WFBNA, the Issuer and the Indenture Trustee, as applicable.

 (b) If the FDIC (i) is appointed as conservator or receiver of WFBNA and (ii) is in default in the payment of principal or
interest when due following the expiration of any cure period hereunder or under the other Transaction Documents due to the failure by the FDIC to pay or apply Collections received by it in accordance with this Indenture, the Indenture Trustee may,
and if directed by the Majority Holders of any affected Series, shall be entitled to deliver written notice to the FDIC requesting the exercise of contractual rights hereunder and under the other Transaction Documents with respect to the related
Series, Class or Tranche. 
 Section 15.05. Reservation of Rights. Neither the inclusion of this
Article XV in this Indenture nor the compliance by any Person with, or the acknowledgment by any Person of, this Article’s provisions constitutes an agreement or acknowledgment by any Person that, in the case of an insolvency proceeding
with respect to WFBNA, a receiver or conservator will have any rights with respect to the Collateral. 

Section 15.06. No Obligation to Monitor or Enforce Compliance. Notwithstanding anything to the contrary in
this Article XV, none of the Indenture Trustee, the Paying Agent or the Note Registrar shall have any responsibility to monitor compliance with or enforce another party’s compliance with its obligations under the FDIC Rule. None of the
Indenture Trustee, the Paying Agent or the Note Registrar shall be charged with the knowledge of such rule, nor shall it be liable to any Noteholder or other party for any violation of such rule. None of the Indenture Trustee, the Paying Agent or
the Note Registrar shall be obligated to take any action under this Article XV unless it receives written direction from the appropriate requesting party. 

  
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 ARTICLE XVI 

MISCELLANEOUS 

Section 16.01. No Petition. To the fullest extent permitted by applicable law, the Indenture Trustee, by
entering into this Indenture, each Derivative Counterparty, by designating that the obligations of the Issuer pursuant to the applicable Derivative Agreement are secured by the Collateral, and each Noteholder, by accepting a Note, agrees that it
will not at any time institute against the Transferor or the Issuer, or join in any institution against the Transferor or the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under
any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Notes, this Indenture or any Derivative Agreement. 

Section 16.02. Trust Obligations. No recourse may be taken, directly or indirectly, with respect to the
obligations of the Issuer on the Notes or under this Indenture or any certificate or other writing delivered in connection herewith or therewith, against (i) the Owner Trustee in its individual capacity, (ii) any owner of a beneficial
interest in the Issuer or (iii) any partner, owner, beneficiary, agent, officer, director, employee or agent of the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer or the Owner Trustee (including in
its individual capacity) or of any successor or assign of the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Owner Trustee has no such obligations in its individual
capacity). 
 Section 16.03. Limitations on Liability. 

(a) It is expressly understood and agreed by the parties hereto that (i) this Indenture is executed and delivered by the Beneficiary not
individually or personally but solely as Beneficiary, in the exercise of the powers and authority conferred and vested in it, (ii) 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 or agreement by the Beneficiary but is made and intended for the purpose of binding only the Issuer, (iii) nothing herein contained will be construed as creating any liability on the
Beneficiary individually or personally, to perform any covenant of the Issuer either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties to this Indenture and by any Person claiming by, through or
under them and (iv) under no circumstances will the Beneficiary 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 Indenture or any related documents. 
 (b) None of the Indenture Trustee, the Note Registrar,
the Paying Agent, the Owner Trustee (including each in its individual capacity), the Transferor, the Servicer, WFBNA, the Beneficiary, or any other beneficiary of the Issuer or any of their respective officers, directors, employers or agents will
have any liability with respect to this Indenture, and recourse 

  
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may be had solely to the Collateral pledged to secure the Notes issued by WF Card Issuance Trust. 

Section 16.04. Tax Treatment. (a) The Issuer and the Noteholders agree that the Notes are intended to be
debt of the Transferor for federal, state and local income and franchise tax purposes and agree to treat the Notes accordingly for all such purposes, unless otherwise required by applicable law. Notwithstanding the foregoing, to the extent the
Issuer is treated as a partnership for federal, state or local income or franchise purposes and a Noteholder is treated as a partner in such partnership, the Noteholders agree that any tax, penalty, interest or other obligation imposed under the
Internal Revenue Code with respect to the income tax items arising from such partnership shall be the sole obligation of the Noteholder to whom such items are allocated and not of such partnership. 

(b) Prior to the first Payment Date, at any time required by law and/or promptly upon request, each Noteholder shall provide to the Indenture
Trustee, the Paying Agent and/or the Issuer (or other Person responsible for withholding of taxes, including but not limited to any withholding or deduction required pursuant to FATCA, or delivery of information under FATCA) information and/or
properly completed and signed tax certifications sufficient to eliminate the imposition of or to determine the amount of any withholding tax, including backup withholding tax and any withholding or deduction required pursuant to FATCA (collectively,
the “Tax Information”). Each Noteholder is deemed to understand that by acceptance of a Note, such Noteholder agrees to supply the Tax Information. Further, each Noteholder is deemed to understand that the Issuer, the Indenture Trustee and
the Paying Agent have the right to withhold on payments payable with respect to the Note (without any corresponding gross-up) in the event of a failure to comply with both of the preceding sentences or in the
event that the Tax Information provided results in withholding being required, for which none of the Issuer, the Indenture Trustee or the Paying Agent shall have any liability. The Issuer hereby agrees to fully indemnify the Indenture Trustee and
the Paying Agent for any penalties (and interest thereon), fees, costs, damages or other liabilities imposed on the Indenture Trustee and the Paying Agent, as applicable, by any Governmental Authority arising from the Indenture Trustee’s or the
Paying Agent’s, as applicable, failure to collect or report any Tax Information, or to withhold or deduct any withholding tax; provided, that indemnification shall not be required with respect to penalties, fees, costs, damage or other
liabilities imposed on the Indenture Trustee or the Paying Agent, as applicable, arising from the Indenture Trustee’s or the Paying Agent’s, as applicable, bad faith, negligence or willful misconduct in failing to collect or report any Tax
Information, or to withhold or deduct any withholding tax. 
 Section 16.05. Actions Taken by the Issuer.
Any and all actions that are to be taken by the Issuer may be taken by either the Beneficiary or the Owner Trustee (at the written direction of the Beneficiary) on behalf of the Issuer. 

Section 16.06. Alternate Payment Provisions. Notwithstanding any provision of this Indenture or any of the
Notes to the contrary, the Issuer, with the written consent of the 

  
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Indenture Trustee and the Paying Agent, may enter into any agreement with any Holder of a Note providing for a method of payment or notice that is different from the methods provided for in this
Indenture for such payments or notices. The Issuer will furnish to the Indenture Trustee and the Paying Agent a copy of each such agreement and the Indenture Trustee and the Paying Agent, as the case may be, will cause payments or notices, as
applicable, to be made in accordance with such agreements. 
 Section 16.07. Termination of Issuer. The
Issuer and the respective obligations and responsibilities of the Indenture Trustee created hereby (other than the obligation of the Indenture Trustee to make payments to Noteholders as hereinafter set forth) shall terminate, except with respect to
the duties described in subsection 16.08(b), as provided in the Trust Agreement. 

Section 16.08. Final Distribution. 

(a) The Transferor shall give the Indenture Trustee, the Paying Agent and the Note Registrar at least thirty (30) days prior written
notice of the Payment Date on which the Noteholders of any Series, Class or Tranche may surrender their Notes for payment of the final distribution on and cancellation of such Notes. Not later than the fifth day of the month in which the final
distribution in respect of such Series or Class is payable to Noteholders, the Indenture Trustee shall provide notice to Noteholders of such Series, Class or Tranche specifying (i) the date upon which final payment of such Series,
Class or Tranche will be made upon presentation and surrender of Notes of such Series, Class or Tranche at the office or offices therein designated, (ii) the amount of any such final payment and (iii) that the Record Date
otherwise applicable to such payment date is not applicable, payments being made only upon presentation and surrender of such Notes at the office or offices therein specified. The Indenture Trustee shall give such notice to the Note Registrar and
the Paying Agent at the time such notice is given to Noteholders. 
 (b) Notwithstanding a final distribution to the Noteholders of any
Series, Class or Tranche (or the termination of the Issuer), except as otherwise provided in this paragraph, all funds then on deposit in any Trust Account allocated to such Noteholders shall continue to be held in trust for the benefit of such
Noteholders, and the Paying Agent shall pay such funds to such Noteholders upon surrender of their Notes, if certificated. In the event that all such Noteholders shall not surrender their Notes for cancellation within six (6) months after the
date specified in the notice from the Indenture Trustee described in paragraph (a), the Indenture Trustee shall give a second notice to the remaining such Noteholders (with a copy to the Paying Agent and the Note Registrar) to surrender their
Notes for cancellation and receive the final distribution with respect thereto. If within one year after the second notice all such Notes shall not have been surrendered for cancellation, the Indenture Trustee may take appropriate steps, or may
appoint an agent to take appropriate steps, to contact the remaining such Noteholders concerning surrender of their Notes, and the cost thereof shall be paid out of the funds in the Collection Account, the Excess Funding Account, or any Supplemental
Account held for the benefit of such Noteholders. Subject to applicable law, the Indenture Trustee and the Paying Agent shall disburse to the Issuer any monies held by them for the payment of principal or interest that remains unclaimed for two
(2) years. After payment to the Issuer, the Indenture 

  
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Trustee and the Paying Agent shall have no liability with respect to such funds, and Noteholders entitled to the money must look solely to the Issuer for payment as general creditors unless an
applicable abandoned property law designates another Person. 
 Section 16.09. Termination Distributions.
Upon the termination of the Issuer pursuant to the terms of the Trust Agreement, the Indenture Trustee shall release, assign and convey to the Beneficiary or any of its designees, without recourse, representation or warranty, all of its right, title
and interest in the Collateral, whether then existing or thereafter created, all monies due or to become due and all amounts received or receivable with respect thereto (including all moneys then held in any Trust Account) and all proceeds thereof,
except for amounts held by the Indenture Trustee pursuant to Section 16.08(b). The Indenture Trustee shall execute and deliver such instruments of transfer and Assignment as shall be provided to it, in each case without
recourse, as shall be reasonably requested by the Beneficiary to vest in the Beneficiary or any of its designees all right, title and interest which the Indenture Trustee had in the Collateral and such other property. 

Section 16.10. Derivative Counterparty as Third-Party Beneficiary. Each Derivative Counterparty is a
third-party beneficiary of this Indenture to the extent specified in the applicable Derivative Agreement or Indenture Supplement. 

  
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 ARTICLE XVII 

THE PAYING AGENT AND THE NOTE REGISTRAR 

Section 17.01. Duties of Paying Agent and Note Registrar . 

(a) Each of the Paying Agent and the Note Registrar undertakes to perform such duties and only such duties as are specifically set forth in
this Indenture. Neither the Paying Agent nor the Note Registrar shall have any duties or responsibilities except those expressly set forth in this Indenture 

(b) Neither the Paying Agent nor the Note Registrar shall be subject to any fiduciary or other implied duties, obligations or covenants
regardless of whether an Event of Default or an Early Redemption Event has occurred and is continuing. 
 (c) Neither the Paying Agent nor
the Note Registrar shall be liable for any action taken or any error of judgment made in good faith by an officer or officers of the Paying Agent or the Note Registrar, as applicable, unless it shall be determined that the Paying Agent or the Note
Registrar, as applicable, was negligent in ascertaining the pertinent facts. 
 (d) Neither the Paying Agent nor the Note Registrar shall be
liable with respect to any action taken or omitted to be taken by it in good faith in accordance with any direction given or certificate or other document delivered to any of the Paying Agent or the Note Registrar under this Indenture or any other
Transaction Document. 
 (e) None of the provisions of this Indenture or any other Transaction Document shall require either the Paying
Agent or the Note Registrar to expend or risk its own funds or otherwise to incur any liability, financial or otherwise, in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers. 

(f) In the absence of bad faith on the part of each of the Paying Agent and the Note Registrar, each of the Paying Agent and the Note
Registrar may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate (including, for the avoidance of doubt, any certification relating to satisfaction of the Rating Agency Condition),
statement, instrument, opinion, report (including, for the avoidance of doubt, any Noteholders’ Statement), notice, instruction, request, consent, order, approval or other paper or believed by it to be genuine and to have been signed or
presented by the proper party or parties, and shall be under no obligation to inquire as to the adequacy, content, accuracy or sufficiency of any such information or be under any obligation to make any calculation (or
re-calculation), certification, or verification in respect of any such information and shall not be liable for any loss that may be occasioned thereby. Each of the Paying Agent and the Note Registrar may also,
but shall not be required to, rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper person, and shall not incur any liability for relying thereon. 

  
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 (g) Whenever in the administration of the provisions of this Indenture or any other
Transaction Document either of the Paying Agent or the Note Registrar shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering any action to be taken hereunder, such matter may, in the absence of
negligence on the part of the Paying Agent or the Note Registrar, as applicable, be proved and established by a certificate delivered to any of the Paying Agent or the Note Registrar, as applicable, hereunder, and such certificate, in the absence of
negligence on the part of the Paying Agent or the Note Registrar shall be full warrant to the Paying Agent and the Note Registrar for any action taken, suffered or omitted by it under the provisions of this Indenture or any other Transaction
Document. 
 (h) Each of the Paying Agent and the Note Registrar, at the expense of the Issuer, may consult with counsel, and the advice or
any opinion of counsel shall be full and complete authorization and protection in respect of any action taken or omitted by it hereunder in good faith and in accordance with such advice or opinion of counsel. 

(i) Before either of the Paying Agent or the Note Registrar acts or refrains from acting hereunder, it may require and shall be entitled to
receive an Officer’s Certificate and/or an opinion of counsel, the costs of which (including, as applicable, the Paying Agent or the Note Registrar’s reasonable and documented attorneys’ fees and expenses) shall be paid by the party
requesting that the Paying Agent or the Note Registrar act or refrain from acting. Neither the Paying Agent nor the Note Registrar shall liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or
opinion of counsel. 
 (j) Neither the Paying Agent nor the Note Registrar shall be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, instruction, request, direction, consent, bond, debenture, entitlement order, approval or other paper or document. 

(k) Each of the Paying Agent and the Note Registrar may execute any of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through agents (whether affiliated or not), attorneys, custodians or nominees appointed with due care, and shall not be responsible for the supervision of or any action or omission on the part of any agent, attorney, affiliate,
custodian or nominee so appointed; provided, however, that the appointment of such agents, attorneys, custodians or nominees shall not relieve the Paying Agent or the Note Registrar of its respective duties and obligations hereunder. 

(l) Any corporation or entity into which the Paying Agent or the Note Registrar may be merged or converted or with which it may be
consolidated, or any corporation or entity resulting from any merger, conversion or consolidation to which the Paying Agent or the Note Registrar, as applicable, shall be a party, or any corporation or entity succeeding to the business of the Paying
Agent or the Note Registrar shall be the successor of the Paying Agent or the Note Registrar, as applicable, hereunder without the execution or filing of any paper with any party hereto or any further act on the part of any of the parties hereto
except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding. In case any Notes shall have been authenticated, but not delivered, by the Note Registrar then in
office, any successor by merger, conversion or consolidation to such 

  
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authenticating Note Registrar may adopt such authentication and deliver the Notes so authenticated with the same effect as if such successor Note Registrar had itself authenticated such Notes.

 (m) In no event shall either the Paying Agent or the Note Registrar be liable for punitive, special, indirect or consequential loss or
damage of any kind whatsoever (including lost profits), even if the Paying Agent or the Note Registrar, as applicable, has been advised of such loss or damage and regardless of the form of action. 

(n) In no event shall either the Paying Agent or the Note Registrar be liable for any failure or delay in the performance of its obligations
under this Indenture or any related documents because of circumstances beyond the Paying Agent or the Note Registrar’s reasonable control, including a failure, termination, or suspension of a clearing house, securities depositary, settlement
system or central payment system in any applicable part of the world, or acts of God, flood, war (whether declared or undeclared), civil or military disturbances or hostilities, nuclear or natural catastrophes, political unrest, explosion, severe
weather or accident, earthquake, terrorism, fire, riot, labor disputes, disease, epidemic, pandemic, quarantine, national emergency, embargo, government action, including any laws, ordinances, regulations or the like (whether domestic, federal,
state, county or municipal or foreign) which delay, restrict or prohibit the providing of the services contemplated by this Indenture or any other Transaction Document or any related documents, or the unavailability of communications or computer
facilities, the failure of equipment or interruption of communications or computer facilities, or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility, or any other causes beyond the Paying
Agent’s control whether or not of the same class or kind as specified above. 
 (o) The right of either the Paying Agent or the Note
Registrar to perform any permissive or discretionary act enumerated in this Indenture or any other Transaction Document shall not be construed as a duty. 

(p) Absent negligence, bad faith or willful misconduct on the part of Wells Fargo Bank, National Association, in acting in each of its
capacities under this Indenture and the related Transaction Documents, shall not constitute impermissible self-dealing or a conflict of interest, and the parties hereto hereby waive any conflict of interest presented by such service. Wells Fargo
Bank, National Association may act as agent for, provide banking, custodial, collateral agency, verification and other services to, and generally engage in any kind of business, with others to the same extent as if Wells Fargo Bank, National
Association, were not a party hereto. Nothing in this Indenture or any other Transaction Document shall in any way be deemed to restrict the right of Wells Fargo Bank, National Association to perform such services for any other person or entity, and
the performance of such services for others will not, in and of itself, be deemed to violate or give rise to any duty or obligation to any party hereto not specifically undertaken by Wells Fargo Bank, National Association hereunder or under any
other Transaction Document 
 (q) Neither the Paying Agent nor the Note Registrar shall be responsible for preparing or filing any reports
or returns relating to federal, state or local income taxes with 

  
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respect to this Indenture or any other Transaction Document other than (x) informational reports required to be prepared by the Paying Agent in connection with payments to Noteholders and
(y) for the Paying Agent’s or the Note Registrar’s compensation, as applicable. 
 (r) Neither the Paying Agent nor the Note
Registrar shall be deemed to have notice or knowledge of, or be required to act based on, any event (including whether the Rating Agency Condition has been satisfied) or information (including the sending of any notice) (including any Event of
Default, Early Redemption Event or any other default) unless a Responsible Officer of any of the Paying Agent or the Note Registrar, as applicable, has actual knowledge or shall have received written notice thereof. In the absence of such actual
knowledge or receipt of such notice, each of the Paying Agent or the Note Registrar may conclusively assume that none of such events have occurred and neither the Paying Agent nor the Note Registrar shall have any obligation or duty to determine
whether any Event of Default, Early Redemption Event or any other default has occurred. The delivery or availability of reports or other documents to the Paying Agent or the Note Registrar (including publicly available reports or documents) shall
not constitute actual or constructive knowledge or notice of information contained in or determinable from those reports or documents, except for such information that this Indenture specifically requires the Paying Agent or the Note Registrar, as
applicable, to examine in such report or document and to take an action with respect thereto. 
 (s) Knowledge or information acquired by
(i) Wells Fargo Bank, National Association in any of its respective capacities hereunder or under any other document related to this transaction shall not be imputed to Wells Fargo Bank, National Association in any of its other capacities
hereunder or under such other documents except to the extent their respective duties are performed by Responsible Officers in the same division of Wells Fargo Bank, National Association, and vice versa, and (ii) any Affiliate of Wells Fargo
Bank, National Association shall not be imputed to Wells Fargo Bank, National Association in any of its respective capacities, provided that the foregoing shall not relieve the Person acting as the Paying Agent or the Note Registrar, as applicable,
from its obligations to perform or responsibility for the manner of performance of its duties in a separate capacity under the Transaction Documents. 

(t) Except as expressly required pursuant to the terms of this Indenture, neither the Paying Agent nor the Note Registrar shall be required to
make any initial or periodic examination of any documents or records for the purpose of establishing the presence or absence of defects, the compliance by the Issuer or any other Person with its representations and warranties or for any other
purpose except as expressly required pursuant to the terms of this Indenture. 
 (u) Whether or not therein expressly so provided, every
provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Paying Agent or the Note Registrar shall be subject to the provisions of this Article XVII. 

(v) Neither the Paying Agent nor the Note Registrar shall be required to take any action hereunder if it shall have reasonably determined, or
shall have been advised by its counsel, that subject to subsection 17.01(z), such action is likely to result in liability on the part 

  
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of the Paying Agent or the Note Registrar, as applicable, or is contrary to the terms hereof or any other Transaction Document to which it is a party or is not in accordance with applicable laws.

 (w) Neither the Paying Agent nor the Note Registrar shall be required to give any bond or surety in respect of the execution of the
powers under this Indenture on any other Transaction Document. 
 (x) Neither the Paying Agent nor the Note Registrar shall have any
liability with respect to the acts or omissions of any other Person, and may assume compliance by each of the other parties to the Transaction Documents with their obligations thereunder unless a Responsible Officer of the Paying Agent or the Note
Registrar, as applicable, has actual knowledge of any such noncompliance or is notified of any such noncompliance in writing. 
 (y) The
recitals contained herein and in the Notes, except, in the case of the Note Registrar, the certificate of authentication, will be taken as the statements of the Issuer, and neither the Paying Agent nor the Note Registrar assumes any responsibility
for their correctness. Neither the Paying Agent nor the Note Registrar makes any representation as to the validity, sufficiency or enforceability of this Indenture, the Notes or the other Transaction Documents against any party other than the Paying
Agent or Note Registrar, respectively, or as to the perfection or priority of any security interest therein. Neither the Paying Agent nor the Note Registrar will be accountable for the use or application by the Issuer of the proceeds of the issuance
of the Notes. 
 (z) In the event that (i) either the Paying Agent or the Note Registrar is unsure as to the application or
interpretation of any provision of this Indenture or any other Transaction Document, (ii) this Agreement is silent or is incomplete as to the course of action that the Paying Agent or the Note Registrar is required or permitted to take with
respect to a particular set of facts, or (iii) more than one methodology can be used to make any determination or calculation to be performed by the Paying Agent or the Note Registrar hereunder, then each of the Paying Agent or the Note
Registrar, as applicable, may give written notice to the Issuer requesting written instruction. The Issuer may elect in its discretion to provide such instruction. If the Issuer does elect to provide the Paying Agent or the Note Registrar with a
written instruction in response to the request, then, to the extent that the Paying Agent or the Note Registrar acts or refrains from acting in good faith in accordance with any such written instruction, neither the Paying Agent nor the Note
Registrar, as applicable, shall be personally liable to any Person. Neither the Paying Agent nor the Note Registrar shall be under any obligation to exercise any of the rights or powers vested in it by this Indenture or any other Transaction
Document or to institute, conduct or defend any litigation hereunder or thereunder or in relation hereto or thereto at the request, order or direction of any Person, unless such Person with the requisite authority shall have offered to the Paying
Agent or the Note Registrar security or indemnity reasonably satisfactory to the Paying Agent or the Note Registrar, as applicable, against the costs, expenses and liabilities (including the reasonable and documented fees and expenses of the Paying
Agent or the Note Registrar’s, as applicable, counsel and agents) which may be incurred therein or thereby. 

  
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 (ii) Neither the Paying Agent nor the Note Registrar shall have any responsibility or
liability for investment losses on Permitted Investments (other than in its individual capacity as an obligor on any Permitted Investments). Each of the Paying Agent and the Note Registrar and its Affiliates is permitted to receive additional
compensation that could be deemed to be in the Paying Agent’s or the Note Registrar’s economic self-interest, as applicable, for (i) serving as investment adviser, administrator, shareholder, servicing agent, custodian or subcustodian
with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments. Such compensation is not payable or
reimbursable under Section 17.02 of this Indenture. 
 (aa) The parties hereto acknowledge that in accordance with requirements
established under the USA PATRIOT Act and its implementing regulations (collectively, the “Patriot Act”), each of the Paying Agent and the Note Registrar, in order to help fight the funding of terrorism and money laundering, is required to
obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Paying Agent or the Note Registrar, as applicable. Each party hereby agrees that it shall provide the
Paying Agent and the Note Registrar with such information in its possession as the Paying Agent or the Note Registrar may request from time to time in order to comply with any applicable requirements of the Patriot Act. 

(bb) Every provision of this Indenture or any other Transaction Document relating to the conduct of, affecting the liability of, or affording
protection to the Paying Agent or the Note Registrar, as applicable, shall be subject to the provisions of this Section 17.01. 

(cc) Wells Fargo Bank, National Association will perform its obligations as Paying Agent and as Note Registrar hereunder through its Corporate
Trust Services division (including, as applicable, any agents (whether affiliated or not) utilized thereby as set forth in subsection 17.01(k)). 

Section 17.02. Compensation; Reimbursement; Indemnification.  

(a) The Issuer agrees to: 

(1) pay to the Paying Agent and the Note Registrar from time to time the compensation set forth in a separate fee letter (which
compensation shall not be limited by any law on compensation of a trustee of an express trust); 
 (2) except as otherwise
expressly provided herein, reimburse each of the Paying Agent and the Note Registrar, in each case, upon its request for all reasonable expenses, disbursements and advances incurred or made by the Paying Agent or the Note Registrar, as applicable,
in accordance with any provision of this Indenture or any other Transaction Document (including the expenses incurred in connection with notices or other communications to the Noteholders and the reasonable compensation and the reasonable expenses
and disbursements of its agents and counsel), except any such expense, 

  
 -124- 

 
disbursement or advance as may be attributable to its negligence, bad faith or willful misconduct; and 

(3) indemnify, defend and hold harmless each of the Paying Agent and the Note Registrar (as such and in each of its individual
capacities) and each of its officers, directors, agents and employees against any and all loss, suit, claim, judgment, liability or expense (including the reasonable fees and expenses of counsel) incurred by it in connection with the administration
of this Indenture and any other Transaction Document and the performance of its duties hereunder and under the other Transaction Documents without negligence, bad faith or willful misconduct on its part, arising out of or in connection with the
acceptance or administration of this Indenture and any other Transaction Document, including the costs and expenses of defending itself against any claim or liability (whether asserted by the Issuer, the Servicer, any Holder or any other Person),
and including any claim arising from the failure by the Issuer or the Servicer to pay when due any sales, excise, transfer or personal taxes relating to the Receivables and including any costs or expenses incurred in respect of enforcement of its
right to indemnity under this Section 17.02. 
 With respect to the payment of these fees, reimbursement amounts and indemnities,
each of the Paying Agent and the Note Registrar will have no recourse to any asset of the Issuer other than funds available pursuant to Section 7.06 or to any Person other than the Issuer. Except as specified in
Section 7.06, any such compensation, reimbursement or indemnity payment to the Paying Agent or the Note Registrar shall be subordinate to payments to be made to the Noteholders. 

(b) This Section 17.02 shall survive the resignation and removal of the Paying Agent or the Note Registrar, as applicable, and the
discharge of this Indenture. 
 Section 17.03. Representations and Covenants of the Paying Agent and the Note Registrar.
Each of the Paying Agent and the Note Registrar represents that: 
 (i) it is a national banking association duly organized
and validly existing under the laws of the United States of America; 
 (ii) it has full power and authority to execute,
deliver and perform this Indenture and has taken all necessary action to authorize the execution, delivery and performance by it of this Indenture and other documents to which it is a party; and 

(iii) Each of this Indenture and other documents to which it is a party has been duly executed and delivered by the Paying
Agent or the Note Registrar, as applicable, and constitutes its legal, valid and binding obligation in accordance with its terms. 

Section 17.04. Successor Paying Agent or Note Registrar. Each of the Paying Agent and the Note Registrar may resign at any
time by giving at least thirty (30) days’ prior written notice 

  
 -125- 

 
thereof to the other parties hereto; provided, that no such resignation shall become effective until a successor Paying Agent or Note Registrar, as applicable, that is satisfactory to the
Issuer has been appointed hereunder. Each of the Paying Agent and the Note Registrar may be removed at any time for cause by at least thirty (30) days’ prior written notice received by the Paying Agent or the Note Registrar, as applicable,
from the Issuer. Upon any such resignation or removal, the Issuer shall have the right to appoint a successor Paying Agent or Note Registrar, as applicable. If no successor Paying Agent or Note Registrar, as applicable, shall have been so appointed
and shall have accepted such appointment within thirty (30) days after the exiting Paying Agent’s or Note Registrar’s, as applicable, giving notice of resignation or receipt of notice of removal, then the exiting Paying Agent or Note
Registrar, as applicable, may, at the sole expense (including all fees, costs, and expenses (including attorneys’ reasonable and documented fees and expenses) incurred in connection with such petition) of the Issuer, petition a court of
competent jurisdiction to appoint a successor Paying Agent or Note Registrar, as applicable. Upon the acceptance of any appointment as Paying Agent or Note Registrar hereunder by a successor Paying Agent or Note Registrar, as applicable, such
successor Paying Agent or Note Registrar, as applicable, shall thereupon succeed to and become vested with all the rights, powers, privileges, and duties of the exiting Paying Agent or Note Registrar, and the exiting Paying Agent or Note Registrar,
as applicable, shall be discharged from its duties and obligations hereunder. After any exiting Paying Agent’s or Note Registrar’s resignation hereunder, the provisions of this Article XVII shall continue in effect for its benefit
in respect of any actions taken or omitted to be taken by it while it was acting as the Paying Agent or Note Registrar, as applicable, hereunder. In the event that Wells Fargo Bank, National Association resigns or is removed in its capacity as
Paying Agent or as Note Registrar, it shall also resign or be removed as Paying Agent or as Note Registrar, as applicable, hereunder. 

  
 -126- 

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

			
	WF CARD ISSUANCE TRUST, by WF Card Funding, LLC, as Beneficiary
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely in its capacity as Paying Agent and as Note Registrar

			
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	U.S. BANK NATIONAL ASSOCIATION, as Indenture Trustee and not in its individual capacity

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	Acknowledged and Accepted:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Servicer

			
		
	By:	 	 
		 	Name:
		 	Title:

 EXHIBIT A 

[FORM OF] INVESTMENT LETTER 

[Date] 
 Wells Fargo Bank, National Association,
as Note Registrar 
 MAC N9300-061 

600 S. 4th Street 

Minneapolis, Minnesota 55415 
 Attention: Corporate Trust Services
– Asset-Backed Administration 
 [WF Card Issuance Trust] 

[Address] 
 [Attention: ] 

 

	 	Re:	 Purchase of $________* principal amount of 

 WF Card Issuance Trust, Series [_], Class [_] Notes 

Ladies and Gentlemen: 
 In connection with our
purchase of the above Notes (the “Notes”) we confirm that: 
 (1) We understand that the Notes are not being registered under the
Securities Act of 1933, as amended (the “Securities Act”), and are being sold to us in a transaction that is exempt from the registration requirements under the Securities Act. 

(2) Any information we desire concerning the Notes or any other matter relevant to our decision to purchase the Notes is or has been made
available to us. 
 (3) We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits
and risks of an investment in the Notes, and we (and any account for which we are purchasing under paragraph (iv) below) are able to bear the economic risk of an investment in the Notes. We (and any account for which we are purchasing under
paragraph (iv) below) are an “accredited investor” (as such term is defined in Rule 501(a)(1), (2) or (3) of Regulation D under the Securities Act). 

(4) We are acquiring the Notes for our own account or for accounts as to which we exercise sole investment discretion and not with a view to
any distribution of the Notes, subject, nevertheless, to the understanding that the disposition of our property shall at all times be and remain within our control; 
  

	 	 

 

	* 	 Not less than $250,000 minimum principal amount. 

  
 A-1 

 (5) We agree that the Notes must be held indefinitely by us unless subsequently registered
under the Securities Act or an exemption from any registration requirements under the Securities Act and any applicable state securities law is available; 

(6) We agree that in the event that at some future time we wish to dispose of or exchange any of the Notes (such disposition or exchange not
being currently foreseen or contemplated), we will not transfer or exchange any of the Notes unless: 
 (a)(i) the sale is of
at least U.S. $250,000 principal amount of Notes to an Eligible Purchaser (as defined below), (ii) a letter to substantially the same effect as paragraphs (1), (2), (3), (4), (5) and (6) of this letter is executed promptly by the purchaser and
(iii) all offers or solicitations in connection with the sale, whether directly or through any agent acting on our behalf, are limited only to Eligible Purchasers and are not made by means of any form of general solicitation or general
advertising whatsoever; or 
 (b) the Notes are transferred pursuant to Rule 144 under the Securities Act by us after we have
held them for more than three years; or 
 (c) the Notes are sold in any other transaction that does not require registration
under the Securities Act and, if the Issuer, the Servicer, the Indenture Trustee or the Note Registrar so requests, we theretofore have furnished to such party an opinion of counsel satisfactory to such party, in form and substance satisfactory to
such party, to such effect; or 
 (d) the Notes are transferred pursuant to an exception from the registration requirements
under the Securities Act under Rule 144A under the Securities Act; and 
 (7) We understand that the Notes will bear a legend to
substantially the following effect: 
 “THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”). NEITHER THIS NOTE NOR ANY PORTION HEREOF MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE REGISTRATION PROVISIONS UNDER THE SECURITIES ACT AND ANY APPLICABLE PROVISIONS OF ANY
STATE BLUE SKY OR SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM SUCH PROVISIONS. THE TRANSFER OF THIS NOTE IS SUBJECT TO CERTAIN CONDITIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN.” 

This legend may be removed if the Issuer, the Indenture Trustee and the Note Registrar have received an opinion of counsel satisfactory to
them, in form and substance satisfactory to them, to the effect that the legend may be removed. 

  
 A-2 

 “Eligible Purchaser” means either an Eligible Dealer or a corporation, partnership
or other entity which we have reasonable grounds to believe and do believe can make representations with respect to itself to substantially the same effect as the representations set forth herein. “Eligible Dealer” means any corporation or
other entity the principal business of which is acting as a broker and/or dealer in securities. Capitalized terms used but not defined herein shall have the meanings given to such terms in the Indenture dated as of [________ __, ____], between WF
Card Issuance Trust and U.S. Bank National Association, as indenture trustee. 
  

	
	Very truly yours,
	
	 
	(Name of Purchaser)

  

			
	By	 	 
		 	(Responsible Officer)

  
 A-3 

 EXHIBIT B 

SERVICING CRITERIA TO BE ADDRESSED IN
ASSESSMENT OF COMPLIANCE 
 The assessment of compliance to be delivered by each of the
Paying Agent and the Indenture Trustee (which, in the case of the Indenture Trustee, would be delivered only in the limited circumstances contemplated by Section 14.04 of this Indenture) shall address, at a minimum, the
criteria identified below as “Applicable Servicing Criteria” or such criteria as mutually agreed upon by the Issuer and the Paying Agent or the Indenture Trustee, as applicable: 

 

									
	 Servicing Criteria
	  	 Applicable Servicing

Criteria
	  	 Inapplicable
Servicing
Criteria

	 Reference
	  	 Criteria
	  	 Performed
Directly by
Asserting
Party
	  	 Performed

by
 Vendor(s)

for which
Asserting
Party is the
Responsible
Party
	  	  

		  	General Servicing Considerations	  		  		  	
	1122(d)(1)(i)	  	Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.	  		  		  	X
					
	1122(d)(1)(ii)	  	If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.	  		  		  	X
					
	1122(d)(1)(iii)	  	Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained.	  		  		  	X
					
	1122(d)(1)(iv)	  	A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of
the transaction agreements.	  		  		  	X
					
	1122(d)(1)(v)	  	Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.	  	X*	  		  	X*
					
		  	Cash Collection and Administration	  		  		  	
					
	1122(d)(2)(i)	  	Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days of receipt, or such other number of days specified in the transaction
agreements.	  	X***	  		  	X***

  
 B-1 

									
	 Servicing Criteria
	  	 Applicable Servicing

Criteria
	  	 Inapplicable
Servicing
Criteria

	 Reference
	  	 Criteria
	  	 Performed
Directly by
Asserting
Party
	  	 Performed

by
 Vendor(s)

for which
Asserting
Party is the
Responsible
Party
	  	  

	1122(d)(2)(ii)	  	Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	  	X***	  		  	
					
	1122(d)(2)(iii)	  	Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.	  		  		  	X
					
	1122(d)(2)(iv)	  	The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the
transaction agreements.	  	X***	  		  	
					
	1122(d)(2)(v)	  	Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a
foreign financial institution means a foreign financial institution that meets the requirements of 240.13k-1(b)(1) of this chapter.	  	X***	  		  	
					
	1122(d)(2)(vi)	  	Unissued checks are safeguarded so as to prevent unauthorized access.	  		  		  	X
					
	1122(d)(2)(vii)	  	Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations
(A) Are mathematically accurate; (B) Are prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) Are reviewed and approved by someone other than
the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the
transaction agreements.	  		  		  	X
					
		  	Investor Remittances and Reporting	  		  		  	
					
	1122(d)(3)(i)	  	Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements.	  		  		  	X

  
 B-2 

									
	 Servicing Criteria
	  	 Applicable Servicing

Criteria
	  	 Inapplicable
Servicing
Criteria

	 Reference
	  	 Criteria
	  	 Performed
Directly by
Asserting
Party
	  	 Performed

by
 Vendor(s)

for which
Asserting
Party is the
Responsible
Party
	  	  

		  	Specifically, such reports (A) Are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) Provide information calculated in accordance with the terms specified in the
transaction agreements; (C) Are filed with the Commission as required by its rules and regulations; and (D) Agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of pool assets
serviced by the servicer.	  		  		  	
					
	1122(d)(3)(ii)	  	Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.	  	X***	  		  	
					
	1122(d)(3)(iii)	  	Disbursements made to an investor are posted within two business days to the servicer’s investor records, or such other number of days specified in the transaction agreements.	  	X***	  		  	
					
	1122(d)(3)(iv)	  	Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	  	X***	  		  	
					
		  	Pool Asset Administration	  		  		  	
					
	1122(d)(4)(i)	  	Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents.	  		  		  	X
					
	1122(d)(4)(ii)	  	Pool assets and related documents are safeguarded as required by the transaction agreements	  		  		  	X
					
	1122(d)(4)(iii)	  	Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.	  		  		  	X
					
	1122(d)(4)(iv)	  	Payments on pool assets, including any payoffs, made in accordance with the related credit card accounts documents are posted to the servicer’s obligor records maintained no more than two business days after receipt, or such
other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents.	  		  		  	X
					
	1122(d)(4)(v)	  	The servicer’s records regarding the pool assets agree with the servicer’s records with	  		  		  	X

  
 B-3 

									
	 Servicing Criteria
	  	 Applicable Servicing

Criteria
	  	 Inapplicable
Servicing
Criteria

	 Reference
	  	 Criteria
	  	 Performed
Directly by
Asserting
Party
	  	 Performed

by
 Vendor(s)

for which
Asserting
Party is the
Responsible
Party
	  	  

		  	respect to an obligor’s unpaid principal balance.	  		  		  	
					
	1122(d)(4)(vi)	  	Changes with respect to the terms or status of an obligor’s pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with
the transaction agreements and related pool asset documents.	  		  		  	X
					
	1122(d)(4)(vii)	  	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or
other requirements established by the transaction agreements.	  		  		  	X
					
	1122(d)(4)(viii)	  	Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period
specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g.,
illness or unemployment).	  		  		  	X
					
	1122(d)(4)(ix)	  	Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents.	  		  		  	X
					
	 1122(d)(4)(x)
	  	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) Such funds are analyzed, in accordance with the obligor’s pool asset documents, on at least an annual basis, or such other period specified in the
transaction agreements; (B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) Such funds are returned to the obligor within 30 calendar days of full
repayment of the related pool assets, or such other number of days specified in the transaction agreements.	  		  		  	X
					
	 1122(d)(4)(xi)
	  	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates,	  		  		  	X

  
 B-4 

									
	 Servicing Criteria
	  	 Applicable Servicing

Criteria
	  	 Inapplicable
Servicing
Criteria

	 Reference
	  	 Criteria
	  	 Performed
Directly by
Asserting
Party
	  	 Performed

by
 Vendor(s)

for which
Asserting
Party is the
Responsible
Party
	  	  

		  	as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the
transaction agreements.	  		  		  	
					
	1122(d)(4)(xii)	  	Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or
omission.	  		  		  	X
					
	1122(d)(4)(xiii)	  	Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.	  		  		  	X
					
	1122(d)(4)(xiv)	  	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	  		  		  	X
					
	1122(d)(4)(xv)	  	Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.	  		  		  	X

  

	*	 Inapplicable to the Paying Agent. Inapplicable to the Indenture Trustee, except in the limited circumstances
contemplated by Section 14.04 of the Indenture. 

	**	 Applicable to the Paying Agent. Inapplicable to the Indenture Trustee, except in the limited circumstances
contemplated by Section 14.04 of the Indenture. 

	***	 Applicable to the Paying Agent. Inapplicable to the Indenture Trustee. 

  
 B-5 

 EXHIBIT C 

FORM OF ANNUAL CERTIFICATION 

 

	 	Re:	 The Indenture dated as of [________ __, ____] (as amended, supplemented or otherwise modified from time to
time, the “Agreement”), among WF Card Issuance Trust, Wells Fargo Bank, National Association, not in its individual capacity but solely in its capacity as Paying Agent and as Note Registrar, and U.S. Bank National Association, as Indenture
Trustee 

 I, ______________, the __________ of [NAME OF COMPANY] (the “Company”), certify to the WF Card
Funding, LLC (the “Transferor”), Wells Fargo Bank, National Association, (the “Servicer”) and WF Card Issuance Trust (the “Issuer”) [, and any other Person that will be responsible for signing the Sarbanes
Certification], and their respective officers, with the knowledge and intent that they will rely upon this certification, that: 

(1) I have reviewed the report on assessment of the Company’s compliance provided in accordance with Rules 13a-18 and 15d-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing Assessment”),
the registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of
Regulation AB (the “Attestation Report”), and any other information provided in furtherance of Item 1122(c) of Regulation AB pursuant to subsection 14.04(c) of the Agreement (the “Servicing Assessment Supplemental
Information”), that were delivered by the Company to the Issuer, the Transferor, and the Servicer pursuant to the Agreement (collectively, the “Company Information”); 

(2) To the best of my knowledge, the Company Information, taken as a whole, does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Company Information; 

(3) To the best of my knowledge, all of the Company Information required to be provided by the Company under the Agreement has
been provided to the Issuer, the Transferor, and the Servicer; and 
 (4) To the best of my knowledge, except as disclosed in
the Servicing Assessment or the Attestation Report, the Company has fulfilled its obligations under the Agreement. 

  
 C-1 

 Initially capitalized terms used but not otherwise defined in this Certification have the meanings assigned
thereto in (or by reference in) the Agreement. 
  

			
		
	Date:	 	 
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 C-2 

 EXHIBIT D 

[FORM OF] NOTICE OF EXCLUSIVE CONTROL 

Date: ____________________ 
  

	To:	 Wells Fargo Bank, National Association, as Paying Agent 

600 S 4th St. 
 MAC N9300-061 
 Minneapolis, MN 55415 

Attention: Corporate Trust Services - Asset Backed Administration 

Facsimile: [__] 
 E-mail: [__]@wellsfargo.com 
 Re: Indenture 

NOTICE OF EXCLUSIVE CONTROL 

Reference is made to that certain Indenture, dated as of [________ __, ____], (as may have been amended, modified, supplemented or restated
from time to time in accordance with its terms, the “Indenture”), by and among WF CARD ISSUANCE TRUST, a Delaware statutory trust (the “Issuer”), WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual
capacity but solely in its capacity as paying agent (in such capacity, the “Paying Agent”) and as note registrar, and U.S. BANK NATIONAL ASSOCIATION, as indenture trustee (the “Indenture Trustee”). Capitalized terms
used but not defined herein have the meanings ascribed to such terms in the Indenture. 
 This notice constitutes a “Notice of
Exclusive Control” under the Indenture. Pursuant to the terms of the Indenture, we hereby give you notice to cease honoring the Issuer’s or the Servicer’s instructions with respect to the Trust Accounts, and to immediately comply with
the terms and conditions set forth in the Indenture relevant to the transfer of exclusive control of the Trust Accounts, any financial assets credited thereto, any funds on deposit therein, and any other property held therein to the Indenture
Trustee. 
 Please acknowledge your receipt of this notice by returning a countersigned copy of this notice to the Indenture Trustee. 

 

			
	Very truly yours,
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Indenture Trustee

		
	By:	 	 
		 	Name:
		 	Title:

  
 D-1 

 SCHEDULE I 

REQUIREMENTS OF FDIC RULE 

As required by the FDIC Rule: 
 (a) As used in
this Schedule, references to (i) the “sponsor” shall mean WFBNA, (ii) the “Issuer” shall mean, collectively, the Transferor, the Issuer and each other transferee of the Transferred Assets that is an “Issuer”
as defined in the FDIC Rule, (iii) the “servicer” shall mean the Servicer and each other “servicer” of the financial assets within the meaning of the FDIC Rule, (iv) “obligations” or “securitization
obligations” shall mean the Notes, and (v) “financial assets” and “securitized financial assets” shall mean the Transferred Assets. 

(b) Payment of principal and interest on the securitization obligations must be primarily based on the performance of financial assets that
are transferred to the Issuer and, except for interest rate or currency mismatches between the financial assets and the obligations, shall not be contingent on market or credit events that are independent of such financial assets. 

(c) The Issuer shall make available to investors, information describing the financial assets, obligations, capital structure, compensation of
relevant parties, and relevant historical performance data set forth below: 
 (i) In the case of an issuance of obligations
that is subject to 17 CFR part 229, subpart 229.1100 (Regulation AB of the Securities and Exchange Commission (Regulation AB)), the documents shall require that, on or prior to issuance of obligations and at the time of delivery of any periodic
distribution report and, in any event, at least once per calendar quarter, while obligations are outstanding, information about the obligations and the securitized financial assets shall be disclosed to all potential investors at the financial asset
or pool level, as appropriate for the financial assets, and security-level to enable evaluation and analysis of the credit risk and performance of the obligations and financial assets. The documents shall require that such information and its
disclosure, at a minimum, shall comply with the requirements of Regulation AB. Information that is unknown or not available to the sponsor or the issuer after reasonable investigation may be omitted if the issuer includes a statement in the offering
documents disclosing that the specific information is otherwise unavailable; 
 (ii) On or prior to issuance of obligations,
the structure of the securitization and the credit and payment performance of the obligations shall be disclosed, including the capital or tranche structure, the priority of payments and specific subordination features; representations and
warranties made with respect to the financial assets, the remedies for and the time permitted for cure of any breach of representations and warranties, including the repurchase of financial assets, if applicable; liquidity facilities and any credit
enhancements permitted by the FDIC Rule, any waterfall triggers or priority of payment reversal features; and policies governing delinquencies, servicer advances, loss mitigation, and write-offs of financial assets; 

  
 Sch I-1 

 (iii) While obligations are outstanding, the Issuer shall provide to
investors information with respect to the credit performance of the obligations and the financial assets, including periodic and cumulative financial asset performance data, delinquency and modification data for the financial assets, substitutions
and removal of financial assets, servicer advances, as well as losses that were allocated to such tranche and remaining balance of financial assets supporting such tranche, if applicable, and the percentage of each tranche in relation to the
securitization as a whole; and 
 (iv) The nature and amount of compensation paid to the originator, sponsor, rating agency
or third-party advisor, any mortgage or other broker, and the servicer(s), and the extent to which any risk of loss on the underlying assets is retained by any of them for such securitization shall be disclosed. The Issuer shall provide to investors
while any obligations are outstanding any changes to such information and the amount and nature of payments of any deferred compensation or similar arrangements to any of the parties. 

(d) The obligations shall not be predominantly sold to an Affiliate (other than a wholly-owned subsidiary consolidated for accounting and
capital purposes with the sponsor) or insider of the sponsor. 
 (e) To the extent serving as servicer or paying agent for the
securitization, the sponsor shall not comingle amounts received with respect to the financial assets with its own assets except for the time, not to exceed two business days, necessary to clear any payments received. 

  
 Sch I-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]