Document:

EX-4.2

 

EXHIBIT 4.2

THIRD AMENDMENT

TO

THE NATIONAL CITY CREDIT CARD MASTER TRUST

POOLING AND SERVICING AGREEMENT

          THIS THIRD AMENDMENT TO THE NATIONAL CITY CREDIT CARD MASTER TRUST POOLING AND SERVICING
AGREEMENT, dated as of March 20, 2007 (this “Amendment”) is by and between NATIONAL CITY
BANK, a national banking association, as Seller and Servicer, and THE BANK OF NEW YORK (Delaware),
a Delaware banking corporation (“BNY DE”), as Trustee.

          WHEREAS the Seller and Servicer and The Bank of New York, a New York banking corporation, as
trustee (in such capacity, the “Prior Trustee”) of the National City Credit Card Master
Trust (the “Trust”) have executed that certain Pooling and Servicing Agreement, dated as of
June 1, 1995, as amended and restated as of July 1, 2000 (as amended and supplemented through the
date hereof and as the same may be further amended, supplemented or otherwise modified and in
effect from time to time, the “Pooling and Servicing Agreement”);

          WHEREAS the Seller and Servicer, the Prior Trustee and BNY DE have executed an Agreement of
Resignation, Appointment and Acceptance of Trustee, dated as of August 3, 2005, pursuant to which
the Prior Trustee resigned and was discharged as trustee of the Trust, and BNY DE was appointed as
successor trustee of the Trust (in such capacity, the “Trustee”) and accepted such
appointment, thereby becoming fully vested with all rights, powers and duties and obligations of
the Prior Trustee; and

          WHEREAS the Seller and Servicer and the Trustee wish to amend the Pooling and Servicing
Agreement as provided herein.

          NOW THEREFORE, in consideration of the promises and the agreements contained herein, the
parties hereto agree to amend the provisions of the Pooling and Servicing Agreement as follows:

          SECTION 1. Amendments of Section 1.01.

     (a) Section 1.01 of the Pooling and Servicing Agreement is hereby amended by adding the
following definitions in the appropriate alphabetical order:

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

     “Regulation AB” shall mean Subpart 229.1100 — Asset Backed Securities
(Regulation AB), 17 C.F.R. §§229.1100-229.1123, 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 release (Asset-Backed Securities, Securities Act Release No.
33-8518, 70 Fed. Reg. 1,506, 1,531 (January 7, 2005)) or by the staff of the Commission, or
as may be provided by the Commission or its staff from time to time.

     “Sarbanes Certification” shall have the meaning specified in Section
14.04(iii).

     “Securities Act” shall mean the Securities Act of 1933, as amended.

     “Securitization Transaction” shall mean any new issuance of Investor
Certificates, pursuant to Section 6.03, or new notes issued by the National City Credit Card
Master Note Trust, publicly offered or privately placed, rated or unrated.

     “Servicing Criteria” shall mean the “servicing criteria” set forth in Item
1122(d) of Regulation AB, as such may be amended from time to time.

     “Servicing Participant” shall mean any Person, other than the Trustee, that is
a “party participating in the servicing function” as defined in Instruction 2 to Item 1122
of Regulation AB.

     “Servicing Party” shall have meaning specified in Section 14.06(a).

     “Subservicer” shall mean any Person, other than the Servicer or the Trustee,
that is a “servicer” as defined in Section 1101(j) of Regulation AB.

     (b) The definition of “Required Seller Percentage” in Section 1.01 of the Pooling and
Servicing Agreement shall be and hereby is amended by deleting the reference to “4%” in its
entirety and replacing such term with a reference to “5%.”

          SECTION 2. Amendment of Section 3.05. Section 3.05 of the Pooling and Servicing
Agreement is hereby amended by deleting such Section in its entirety and inserting in its place the
following:

     Section 3.05 Annual Servicer’s Certificate. On or before the 90th day following
the end of each calendar year, beginning with the calendar year ended December 31, 2006, the
Servicer will deliver, as provided in Section 13.05, to the Trustee, each Rating Agency and
each Series Enhancer entitled thereto pursuant to the relevant Supplement, the statement of
compliance required under Item 1123 of Regulation AB with respect to such calendar year,
which statement will be in the form of an Officer’s Certificate of the Servicer (with
appropriate insertions) to the effect that (a) a review of the activities of the Servicer
during such calendar year and of its performance under this Agreement was made under the
supervision of the officer signing such certificate and (b) to the best of such officer’s
knowledge, based on such review, the Servicer has fulfilled all of its obligations under
this Agreement throughout such calendar year or, if there has been a failure to fulfill any
such obligation in any material respect, specifying each such failure known to such officer
and the nature and status thereof. A copy of such certificate may be obtained by any Investor
Certificateholder or Certificate Owner by a request in
writing to the Trustee addressed to the Corporate Trust Office.

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          SECTION 3. Amendment of Section 3.06. Section 3.06 of the Pooling and Servicing
Agreement is hereby amended by deleting such Section in its entirety and inserting in its place the
following:

     Section 3.06 Annual Independent Accountants’ Servicing Report. On or before
the 90th day following the end of each calendar year, beginning with the calendar year ended
December 31, 2006, the Servicer shall cause a firm of nationally recognized independent
public accountants (who may also render other services to the Servicer or the Seller) to
furnish, as provided in Section 13.05, to the Trustee, any Series Enhancer and each Rating
Agency each attestation report on assessments of compliance with the Servicing Criteria with
respect to the Servicer or any affiliate thereof during the related fiscal year delivered by
such accountants pursuant to Rule 13(a)-18 or Rule 15(d)-18 of the Exchange Act and Item
1122 of Regulation AB. A copy of such report (or reports, as applicable) may be obtained by
any Investor Certificateholder or Certificate Owner by a request in writing to the Trustee
addressed to the Corporate Trust Office.

          SECTION 4. Amendment of Section 6.03. Section 6.03(b) of the Pooling and Servicing
Agreement is hereby amended by the insertion of the following sentence before the penultimate
sentence of such Section:

     In addition, the Seller agrees to provide notice of new issuances of Series of Investor
Certificates as may be required by and in accordance with Item 1121(a)(14) of Regulation AB.

          SECTION 5. Amendment of Section 11.10. Section 11.10(a) of the Pooling and Servicing
Agreement is hereby amended by deleting the first sentence thereof in its entirety and inserting in
its place the following:

     Notwithstanding any other provisions of this Agreement, at any time, for the purpose of
meeting any legal requirements of any jurisdiction in which any part of the Trust may at the
time be located, the Trustee shall have the power and may execute and deliver all
instruments, subject to the prior written consent of the Seller, to appoint one or more
Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of
all or any part of the Trust, and to vest in such Person or Persons, in such capacity and
for the benefit of the Certificateholders, such title to the Trust, or any part thereof,
and, subject to the other provisions of this Section 11.10, such powers, duties,
obligations, rights and trusts as the Trustee may consider necessary or desirable; provided,
however, that the Trustee shall exercise due care in the appointment of any co-trustee.

          SECTION 6. Addition of Article XIV. The Pooling and Servicing Agreement is hereby
amended by adding the following new Article XIV after Article XIII of the Pooling and Servicing
Agreement:

ARTICLE XIV

COMPLIANCE WITH REGULATION AB

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          Section 14.01. Intent of the Parties; Reasonableness. The Seller, the Trustee
and the Servicer acknowledge and agree that the purpose of this Article XIV is to facilitate
compliance by the Seller with the provisions of Regulation AB and related rules and
regulations of the Commission. The Seller 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 the Seller’s compliance with the Securities Act, the Exchange Act and
the rules and regulations of the Commission thereunder (or the provision in a private
offering of disclosure comparable to that required under the Securities Act). The Trustee
agrees to cooperate in good faith with any reasonable request by the Seller for information
regarding the Trustee which is required in order to enable the Seller to comply with the
provisions of Items 1109(a), 1109(b), 1117, 1118, 1119 and 1122 of Regulation AB as it
relates to the Trustee or to the Trustee’s obligations under this Agreement or any
Supplement. The Servicer agrees to cooperate in good faith with any reasonable request by
the Seller for information regarding the Servicer which is required in order to enable the
Seller to comply with the provisions of Regulation AB as it relates to the Servicer or to
the Servicer’s obligations under this Agreement or any Supplement.

          Section 14.02. Additional Representations and Warranties of the Trustee. The
Trustee shall be deemed to represent to the Seller, as of the date on which information is
provided to the Seller under Section 14.03 that, except as disclosed in writing to the
Seller prior to such date: (i) neither the execution or the delivery by the Trustee of this
Agreement or any Supplement, the performance by the Trustee of its obligations under this
Agreement or any Supplement nor the consummation of any of the transactions by the Trustee
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 the Trustee is a party or by which it is bound, which violation would have a
material adverse effect on the Trustee’s ability to perform its obligations under this
Agreement or any Supplement, or of any judgment or order applicable to the Trustee; and (ii)
there are no proceedings pending or threatened against the Trustee in any court or before
any governmental authority, agency or arbitration board or tribunal which, individually or
in the aggregate, would have a material adverse effect on the right, power and authority of
the Trustee to enter into this Agreement or any Supplement or to perform its obligations
under this Agreement or any Supplement.

          Section 14.03. Information to Be Provided by the Trustee. The Trustee shall
(i) on or before the fifth Business Day of each month, provide to the Seller, in writing,
such information regarding the Trustee 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 the Trustee of any changes to such information, provide to the Seller, in
writing, such updated information.

          The Trustee shall (i) on or before the fifth Business Day of each January, April, July
and October, provide to the Seller such information regarding the Trustee as is requested
for the purpose of compliance with Items 1109(a), 1109(b), 1117 and 1119 of

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Regulation AB,
and (ii) as promptly as practicable following notice to or discovery by the Trustee of any
changes to such information, provide to the Seller, in writing, such updated information.
Such information shall include, at a minimum:

     (A) the Trustee’s name and form of organization;

     (B) a description of the extent to which the Trustee has had prior experience
serving as a trustee for asset-backed securities transactions involving credit card
receivables;

     (C) a description of any affiliation or relationship between the Trustee and
any of the following parties to a Securitization Transaction, as such parties are
identified to the Trustee by the Seller 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; and
	 
	 	(9) 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 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.

          Section 14.04. Report on Assessment of Compliance and Attestation. On or
before March 1 of each calendar year (or such later date as may be consented to in writing
by the Seller and the Servicer), commencing in 2007, the Trustee shall:

     (i) deliver to the Seller and the Servicer a report regarding the Trustee’s
assessment of compliance with the Servicing Criteria during the immediately
preceding calendar year, 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 Seller
and the Servicer and signed by an authorized officer of the Trustee, and shall
address each of the Servicing Criteria specified in Exhibit J hereto or such
criteria as mutually agreed upon by the Seller and the Trustee;

     (ii) deliver to the Seller and the Servicer a report of a registered public
accounting firm reasonably acceptable to the Seller that attests to, and reports on,

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the assessment of compliance made by the Trustee and delivered pursuant to the
preceding paragraph. Such attestation shall be in accordance with Rules
1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange
Act; and

     (iii) deliver to the Seller, the Servicer 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 Trust, National City
Credit Card Master Note Trust or the Seller with respect to a Securitization
Transaction a certification substantially in the form attached hereto as Exhibit I
or such form as mutually agreed upon by the Seller and the Trustee.

     The Trustee acknowledges that the parties identified in clause (iii) above may rely on
the certification provided by the Trustee pursuant to such clause in signing a Sarbanes
Certification and filing such with the Commission.

          Section 14.05. Additional Representations and Warranties of the Servicer. The
Servicer shall be deemed to represent to the Seller, as of the date on which information is
provided to the Seller under Section 14.06 that, except as disclosed in writing to the
Seller prior to such date to the best of its knowledge: (i) the Servicer is not aware and
has not received notice that any default, early amortization or other performance triggering
event has occurred as to any other securitization due to any act or failure to act of the
Servicer; (ii) the Servicer has not been terminated as servicer in a securitization
involving credit card receivables, either due to a servicing default or to application of a
servicing performance test or trigger; (iii) no material noncompliance with the applicable
servicing criteria with respect to other securitizations of credit card receivables
involving the Servicer as servicer has been disclosed or reported by the Servicer; (iv) no
material changes to the Servicer’s policies or procedures with respect to the servicing
function it will perform under this Agreement and any Supplement have occurred during the
three-year period immediately preceding the related Securitization Transaction; (v) there
are no aspects of the Servicer’s financial condition that could have a material adverse
effect on the performance by the Servicer of its servicing obligations under this Agreement
or any Supplement; and (vi) there are no material legal or governmental proceedings pending
(or known to be contemplated) against the Servicer, any Subservicer or any unaffiliated
third-party originator of Receivables.

          Section 14.06. Information to Be Provided by the Servicer. In connection with
any Securitization Transaction, the Servicer shall (i) within five (5) Business Days
following request by the Seller, provide to the Seller, in writing, the information
specified in this Section, and (ii) as promptly as practicable following notice to or
discovery by the Servicer of any changes to such information, provide to the Seller, in
writing, such updated information.

          (a) If so requested by the Seller, the Servicer shall provide to the Seller such
information regarding the Servicer and each Subservicer (each of the Servicer and each
Subservicer, for purposes of this paragraph, a “Servicing Party”), as is requested

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for the
purpose of compliance with Item 1108 of Regulation AB. Such information shall include, at a
minimum:

     (A) the Servicing Party’s name and form of organization;

     (B) a description of how long the Servicing Party has been servicing credit
card receivables; a general discussion of the Servicing Party’s experience in
servicing assets of any type as well as a more detailed discussion of the Servicing
Party’s experience in, and procedures for, the servicing function it will perform
under this Agreement and any Supplement; information regarding the size, composition
and growth of the Servicing Party’s portfolio of credit card accounts of a type
similar to the Accounts and information on factors related to the Servicing Party
that may be material, in the good faith judgment of the Seller, to any analysis of
the servicing of the Receivables or the related asset-backed securities, as
applicable, including, without limitation:

     (1) whether any prior securitizations of credit card receivables
involving the Servicing Party defaulted or experienced an early amortization
or other performance triggering event because of servicing during the
three-year period immediately preceding the related Securitization
Transaction;

     (2) the extent of outsourcing the Servicing Party utilizes;

     (3) whether there has been previous disclosure of material
noncompliance with the applicable servicing criteria with respect to other
securitizations of credit card receivables involving the Servicing Party as
a servicer during the three-year period immediately preceding the related
Securitization Transaction;

     (4) whether the Servicing Party has been terminated as servicer in a
securitization of credit card receivables, either due to a servicing default
or to application of a servicing performance test or trigger; and

     (5) such other information as the Seller may reasonably request for the
purpose of compliance with Item 1108(b)(2) of Regulation AB;

     (C) a description of any material changes during the three-year period
immediately preceding the related Securitization Transaction to the Servicing
Party’s policies or procedures with respect to the servicing function it will
perform under this Agreement and any Supplement;

     (D) information regarding the Servicing Party’s financial condition, to the
extent that there is a material risk that an adverse financial event or circumstance
involving the Servicing Party could have a material adverse effect
on the performance by the Servicing Party of its servicing obligations under
this Agreement or any Supplement;

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     (E) a description of the Servicing Party’s processes and procedures designed to
address any special or unique factors involved in servicing;

     (F) a description of the Servicing Party’s processes for handling
delinquencies, losses, bankruptcies and recoveries, such as sale of defaulted
receivables; and

     (G) information as to how the Servicing Party defines or determines
delinquencies and charge-offs, including the effect of any grace period, re-aging,
restructuring, partial payments considered current or other practices with respect
to delinquency and loss experience.

               (b) In addition to such information as the Servicer is obligated to provide pursuant to
other provisions of this Agreement and any Supplement, if so requested by the Seller, the
Servicer shall provide to the Seller such information regarding the performance or servicing
of the Receivables as is reasonably required to facilitate preparation of distribution
reports in accordance with Item 1121 of Regulation AB. Such information shall be provided
concurrently with the distribution reports otherwise required to be delivered monthly by the
Servicer under this Agreement and any Supplement, commencing with the first such report due
not less than ten (10) Business Days following such request.

               Section 14.07. Report on Assessment of Compliance and Attestation.

               (a) On or before March 1 (or such later date as may be consented to in writing by the
Seller) of each calendar year, commencing in 2007, the Servicer shall:

     (i) deliver to the Seller a report regarding the Servicer’s assessment
of compliance with the Servicing Criteria during the immediately preceding
calendar year, 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
Seller and signed by an authorized officer of the Servicer, and shall
address each of the Servicing Criteria specified in Exhibit J or such
criteria as mutually agreed upon by the Seller and the Servicer;

     (ii) deliver to the Seller a report of a registered public accounting
firm reasonably acceptable to the Seller that attests to, and reports on,
the assessment of compliance made by the Servicer and delivered pursuant to
the preceding paragraph. Such attestation shall be in accordance with Rules
1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the
Exchange Act;

     (iii) cause each other Servicing Participant to deliver to the Seller
an assessment of compliance and accountants’ attestation as and when
provided in paragraphs (i) and (ii) of this Section; and

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     (iv) cause each other Servicing Participant to deliver to the Seller
and any other Person that will be responsible for signing the Sarbanes
Certification on behalf of the Trust, National City Credit Card Master Note
Trust or the Seller with respect to a Securitization Transaction a
certification in the form attached hereto as Exhibit I.

          (b) The Servicer shall cause each assessment of compliance provided by another
Servicing Participant to address each of the applicable Servicing Criteria specified in a
document substantially in the form of Exhibit J hereto delivered to the Seller upon
reasonable request of the Seller.

          Section 14.08. Use of Subservicers and Servicing Participants. The Servicer
shall use its best efforts to hire or otherwise utilize only the services of Subservicers
that agree to comply with the provisions of paragraph (a) of this Section. The Servicer
shall use its best efforts to hire or otherwise utilize only the services of Servicing
Participants, and shall use its best efforts to ensure that Subservicers hire or otherwise
utilize only the services of Servicing Participants, to fulfill any of the obligations of
the Servicer as servicer under this Agreement or any Supplement, if those Servicing
Participants agree to comply with the provisions of paragraph (b) of this Section.

          (a) Except as may otherwise be required pursuant to Section 8.07, it shall not be
necessary for the Servicer to seek the consent of the Seller to the utilization of any
Subservicer. The Servicer shall use its best efforts to cause any Subservicer used by the
Servicer (or by any Subservicer) for the benefit of the Seller to comply with the provisions
of this Section and with Sections 3.05, 14.05, 14.06 and 14.07 of this Agreement to the same
extent as if such Subservicer were the Servicer. The Servicer shall be responsible for
obtaining from each Subservicer and delivering to the Seller any servicer compliance
statement required to be delivered by such Subservicer under Section 3.05, any assessment of
compliance and attestation required to be delivered by such Subservicer under Section 14.07
and any certification required to be delivered to the Person that will be responsible for
signing the Sarbanes Certification under Section 14.07 as and when required to be delivered.

          (b) Except as may otherwise be required pursuant to Section 8.07, it shall not be
necessary for the Servicer to seek the consent of the Seller to the utilization of any
Servicing Participant. The Servicer shall promptly upon request provide to the Seller a
written description (in form and substance satisfactory to the Seller) of the role and
function of each Servicing Participant utilized by the Servicer or any Subservicer,
specifying (i) the identity of each such Servicing Participant and (ii) which elements of
the Servicing Criteria will be addressed in assessments of compliance provided by each
Servicing Participant.

          As a condition to the utilization of any Servicing Participant, the Servicer shall use
its best efforts to cause any such Servicing Participant used by the Servicer (or by any
Subservicer) for the benefit of the Seller to comply with the provisions of Sections 14.07
of this Agreement to the same extent as if such Servicing Participant were the

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Servicer.
The Servicer shall be responsible for obtaining from each Servicing Participant and
delivering to the Seller any assessment of compliance and attestation required to be
delivered by such Servicing Participant under Section 14.07, in each case as and when
required to be delivered.

          SECTION 7. Addition of Exhibits I and J to Pooling and Servicing Agreement. The
Pooling and Servicing Agreement is hereby amended by adding new Exhibits I and J, in their
respective forms attached hereto, after Exhibit H-2 to the Pooling and Servicing Agreement.

          SECTION 8. Effectiveness. The amendments provided for by this Amendment shall become
effective upon receipt by the Trustee of the following:

          (a) Notification in writing from each Rating Agency to the effect that the terms of this
Amendment will not result in a reduction or withdrawal of the rating of any outstanding Series or
Class of Investor Certificates to which it is a Rating Agency.

          (b) An Officer’s Certificate from the Seller delivered to the Trustee to the effect that the
Seller reasonably believes the terms of this Amendment will not adversely affect in any material
respect the interests of any Investor Certificateholder and an Opinion of Counsel as provided under
Section 13.02 of the Pooling and Servicing Agreement.

          (c) Counterparts of this Amendment, duly executed by the parties hereto.

          SECTION 9. Pooling and Servicing Agreement in Full Force and Effect as Amended.
Except as specifically amended or waived hereby, all of the terms and conditions of the Pooling and
Servicing Agreement shall remain in full force and effect. All references to the Pooling and
Servicing Agreement in any other document or instrument shall be deemed to mean such Pooling and
Servicing Agreement as amended by this Amendment. This Amendment shall not constitute a novation
of the Pooling and Servicing Agreement, but shall constitute an amendment thereof. The parties
hereto agree to be bound by the terms and obligations of the Pooling and Servicing Agreement, as
amended by this Amendment, as though the terms and obligations of the Pooling and Servicing
Agreement were set forth herein.

          SECTION 10. Counterparts. This Amendment may be executed in any number of
counterparts and by separate parties hereto on separate counterparts, each of which when executed
shall be deemed an original, but all such counterparts taken together shall constitute one and the
same instrument.

          SECTION 11. Governing Law; Submission to Jurisdiction; Agent for Service of Process.
This Amendment shall be governed by and construed in accordance with the laws of the State of
Delaware, without regard to principles of conflict of laws. The parties hereto declare that it is
their intention that this Amendment shall be regarded as made under the laws of the State of
Delaware and that the laws of said State shall be applied in interpreting its provisions in
all cases where legal interpretation shall be required. Each of the parties hereto agrees (a)
that this Amendment involves at least $100,000.00, and (b) that this Amendment has been entered
into by the parties hereto in express reliance upon 6 DEL. C. § 2708. Each of the parties hereto
hereby irrevocably and unconditionally agrees (a) to be subject to the jurisdiction of the courts
of

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the State of Delaware and of the federal courts sitting in the State of Delaware, and (b)(1) to
the extent such party is not otherwise subject to service of process in the State of Delaware, to
appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance of
legal process, and (2) that, to the fullest extent permitted by applicable law, service of process
may also be made on such party by prepaid certified mail with a proof of mailing receipt validated
by the United States Postal Service constituting evidence of valid service, and that service made
pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the
same legal force and effect as if served upon such party personally within the State of Delaware.
For the avoidance of doubt, the parties hereto agree that each of the previous amendments to the
Pooling and Servicing Agreement since July 1, 2000 are governed by and construed in accordance with
the laws of the State of Delaware.

          SECTION 12. Defined Terms and Section References. Capitalized terms used herein and
not otherwise defined shall have the meanings assigned to such terms in the Pooling and Servicing
Agreement. All Section or subsection references herein shall mean Sections or subsections of the
Pooling and Servicing Agreement, except as otherwise provided herein.

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

	 	 	 	 	 
	 	NATIONAL CITY BANK,

as Seller and Servicer

 	 
	 	By:  	/s/ Russell A. Cronin Jr.
 	 
	 	 	Name:  	Russell A. Cronin Jr. 	 
	 	 	Title:  	Sr. Vice President 	 
	 
	 	THE BANK OF NEW YORK (DELAWARE),

as Trustee

 	 
	 	By:  	/s/ Kristine K. Gullo
 	 
	 	 	Name:  	Kristine K. Gullo 	 
	 	 	Title:  	Vice President 	 
	 

 

 

EXHIBIT I

FORM OF ANNUAL CERTIFICATION

	     Re:	 	The Pooling and Servicing Agreement dated as of June 1, 1995, as
amended and restated as of July 1, 2000 (as amended, supplemented or otherwise
modified from time to time, the “Agreement”), between National City Bank, a
national banking association, as seller (the “Seller”) and servicer, and The
Bank of New York (Delaware), a Delaware banking corporation, as trustee.

     I,                                                             , the      
                                    of [NAME OF COMPANY] (the “Company”),
certify to the Seller, the Servcer 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 “Company Information”), and
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 that were
delivered by the Company to the Seller and the Servicer pursuant to the Agreement;

     (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 Seller [and the Servicer]; and

     (4) To the best of my knowledge, except as disclosed in clause (1) above, the Company
has fulfilled its obligations under the Agreement.

	 	 	 	 	 
	 	Date: 	 	 
	 

	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

EXHIBIT J

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

     The assessment of compliance to be delivered by the [Servicer] [Trustee] shall address, at a
minimum, the criteria identified as below as “Applicable Servicing Criteria”:

	 	 	 	 	 
	Servicing Criteria	 	Applicable
	Reference	 	Criteria	 	Servicing Criteria
	 
	 	 	 	 
	 

	 	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.
	 	Servicer
	 
	 	 	 	 
	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.
	 	Servicer
	 
	 	 	 	 
	1122(d)(1)(iii)

	 	Any requirements in the transaction agreements to maintain a back-up
servicer for the credit card accounts or accounts are maintained.	 	 
	 
	 	 	 	 
	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.
	 	Servicer
	 
	 	 	 	 
	 

	 	Cash Collection and Administration	 	 
	 
	 	 	 	 
	1122(d)(2)(i)

	 	Payments on credit card accounts are deposited into the appropriate
custodial bank accounts and related bank clearing accounts no more than
two business days following receipt, or such other number of days
specified in the transaction agreements.
	 	Servicer, Trustee
	 
	 	 	 	 
	1122(d)(2)(ii)

	 	Disbursements made via wire transfer on behalf of an obligor or to
an investor are made only by authorized personnel.
	 	Trustee
	 
	 	 	 	 
	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.	 	 
	 
	 	 	 	 
	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.
	 	Servicer, Trustee
	 
	 	 	 	 
	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 Rule 13k-1(b)(1) of
the Securities Exchange Act.
	 	Servicer, Trustee
	 
	 	 	 	 
	1122(d)(2)(vi)

	 	Unissued checks are safeguarded so as to prevent unauthorized access.	 	 
	 
	 	 	 	 
	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 are (A)
mathematically accurate; (B) prepared within 30 calendar days after the
bank statement cutoff date, or such other number of days specified in
the transaction agreements; (C) 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.	 	 

I-1

 

	 	 	 	 	 
	Servicing Criteria	 	Applicable
	Reference	 	Criteria	 	Servicing Criteria
	 
	 	 	 	 
	 

	 	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. 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 credit card accounts serviced by
the Servicer.
	 	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.
	 	Servicer, Trustee
	 
	 	 	 	 
	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.
	 	Trustee
	 
	 	 	 	 
	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.
	 	Servicer, Trustee
	 
	 	 	 	 
	 

	 	Pool Asset Administration	 	 
	 
	 	 	 	 
	1122(d)(4)(i)

	 	Collateral or security on credit card accounts is maintained as
required by the transaction agreements or related asset pool documents.	 	 
	 
	 	 	 	 
	1122(d)(4)(ii)

	 	Account and related documents are safeguarded as required by the
transaction agreements
	 	Servicer, Trustee
	 
	 	 	 	 
	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.
	 	Servicer
	 
	 	 	 	 
	1122(d)(4)(iv)

	 	Payments on credit card accounts, 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 asset pool documents.
	 	Servicer
	 
	 	 	 	 
	1122(d)(4)(v)

	 	The Servicer’s records regarding the accounts and the accounts agree
with the Servicer’s records with respect to an obligor’s unpaid
principal balance.
	 	Servicer
	 
	 	 	 	 
	1122(d)(4)(vi)

	 	Changes with respect to the terms or status of an obligor’s account
(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.
	 	Servicer
	 
	 	 	 	 
	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.
	 	Servicer
	 
	 	 	 	 
	1122(d)(4)(viii)

	 	Records documenting collection efforts are maintained during the
period a Account 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 Accounts including, for
example, phone calls, letters and payment rescheduling plans in cases
where delinquency is deemed temporary (e.g., illness or unemployment).
	 	Servicer
	 
	 	 	 	 
	1122(d)(4)(ix)

	 	Adjustments to interest rates or rates of return for Accounts with
variable rates are computed based on the related Account documents.
	 	Servicer

I-2

 

	 	 	 	 	 
	Servicing Criteria	 	Applicable
	Reference	 	Criteria	 	Servicing Criteria
	 
	 	 	 	 
	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
Account 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 Account
documents and state laws; and (C) such funds are returned to the obligor
within 30 calendar days of full repayment of the related Accounts, or
such other number of days specified in the transaction agreements.	 	 
	 
	 	 	 	 
	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,
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.	 	 
	 
	 	 	 	 
	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.	 	 
	 
	 	 	 	 
	1122(d)(4)(xiv)

	 	Delinquencies, charge-offs and uncollectible accounts are
recognized and recorded in accordance with the transaction agreements.
	 	Servicer
	 
	 	 	 	 
	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.
	 	Servicer

	 	 	 	 	 
	 	[THE BANK OF NEW YORK (DELAWARE),

as Trustee]

[NATIONAL CITY BANK,

as Servicer]

	 	Date:  	 	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

I-3EX-4.3

 

EXHIBIT 4.3

FIRST AMENDMENT

TO

THE NATIONAL CITY CREDIT CARD MASTER NOTE TRUST

INDENTURE

          THIS FIRST AMENDMENT TO THE NATIONAL CITY CREDIT CARD MASTER NOTE TRUST INDENTURE, dated as of
March 20, 2007 (this “Amendment”) is by and between the NATIONAL CITY CREDIT CARD MASTER
NOTE TRUST, a statutory trust created under the laws of the State of Delaware, as Issuer, and THE
BANK OF NEW YORK, a New York banking corporation, as Indenture Trustee.

          WHEREAS the Issuer and the Indenture Trustee have executed that certain Indenture, dated as of
August 23, 2005 (as amended and supplemented through the date hereof and as the same may be further
amended, supplemented or otherwise modified and in effect from time to time, the
“Indenture”);

          WHEREAS the Issuer and the Indenture Trustee wish to amend the Indenture as provided herein;

          NOW THEREFORE, in consideration of the promises and the agreements contained herein, the
parties hereto agree to amend the provisions of the Indenture as follows:

          SECTION 1. Amendment of Section 101. Section 101 of the Indenture is hereby amended
by adding the following definitions in the appropriate alphabetical order:

     “Regulation AB” means Subpart 229.1100 — Asset Backed Securities (Regulation
AB), 17 C.F.R. §§229.1100-229.1123, 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 release (Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg.
1,506, 1,531 (January 7, 2005)) or by the staff of the Commission, or as may be provided by
the Commission or its staff from time to time.

     “Sarbanes Certification” is defined in Section 1504(iii).

     “Securitization Transaction” means any issuance of new Notes of any series,
class or tranche, pursuant to Section 310, whether publicly offered or privately placed,
rated or unrated.

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

 

 

          SECTION 2. Amendment of Section 310. Section 310(b) of the Indenture is hereby
amended by adding the following sentence at the end of such Section:

     In addition, the Issuer agrees to provide notice 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. Addition of Article XV. The Indenture is hereby amended by adding the
following new Article XV after Article XIV of the Indenture:

ARTICLE XV

COMPLIANCE WITH REGULATION AB

     Section 1501. Intent of the Parties; Reasonableness. National City and the
Indenture Trustee acknowledge and agree that the purpose of this Article XV is to
facilitate compliance by National City with the provisions of Regulation AB and related
rules and regulations of the Commission. National City 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 National City’s compliance with the Securities Act,
the Securities Exchange Act and the rules and regulations of the Commission thereunder (or
the provision in a private offering of disclosure comparable to that required under the
Securities Act). The Indenture Trustee agrees to cooperate in good faith with any
reasonable request by National City for information regarding the Indenture Trustee which is
required in order to enable National City to comply with the provisions of Items 1109(a),
1109(b), 1117, 1118, 1119 and 1122 of Regulation AB as it relates to the Indenture Trustee
or to the Indenture Trustee’s obligations under this Indenture or any Indenture Supplement.

     Section 1502. Additional Representations and Warranties of the Indenture
Trustee. The Indenture Trustee shall be deemed to represent to National City, as of the
date on which information is provided to National City under Section 1503 that,
except as disclosed in writing to National City prior to such date: (i) neither the
execution or the delivery by the Indenture Trustee of this Indenture or any Indenture
Supplement, the performance by the Indenture Trustee of its obligations under this Indenture
or any Indenture Supplement nor the consummation of any of the transactions by the Indenture
Trustee 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 the Indenture Trustee is a party or by which it is bound, which
violation would have a material adverse effect on the Indenture Trustee’s ability to perform
its obligations under this Indenture or any Indenture Supplement, or of any judgment or
order applicable to the Indenture Trustee; and (ii) there are no proceedings pending or
threatened against the Indenture Trustee in any court or before any governmental authority,
agency or arbitration board or tribunal which, individually or in the aggregate, would have
a material adverse effect on the right, power and authority of the Indenture Trustee to
enter into this Indenture or any Indenture Supplement or to perform its obligations under
this Indenture or any Indenture Supplement.

 

 

     Section 1503. Information to Be Provided by the Indenture Trustee. The
Indenture Trustee shall (i) on or before the final Business Day of each month), provide to
National City, in writing, such information regarding the Indenture Trustee 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 the Indenture Trustee of any changes to such
information, provide to National City, in writing, such updated information.

     The Indenture Trustee shall (i) on or before the fifth Business Day of each January,
April, July and October, provide to National City such information regarding the Indenture
Trustee as is requested for the purpose of compliance with Items 1109(a), 1109(b), 1117 and
1119 of Regulation AB, and (ii) as promptly as practicable following notice to or discovery
by the Indenture Trustee of any changes to such information, provide to National City, in
writing, such updated information. Such information shall include, at a minimum:

     (A) the Indenture Trustee’s name and form of organization;

     (B) a description of the extent to which the Indenture Trustee has had prior
experience serving as a trustee for asset-backed securities transactions involving
credit card receivables;

     (C) a description of any affiliation or relationship between the Indenture
Trustee and any of the following parties to a Securitization Transaction, as such
parties are identified to the Indenture Trustee by National City 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; and

(9) 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 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.

 

 

     Section 1504. Report on Assessment of Compliance and Attestation. On or
before March 1 of each calendar year (or such later date as may be consented to in writing
by National City), commencing in 2007, the Indenture Trustee shall:

     (i) deliver to National City a report regarding the Indenture Trustee’s
assessment of compliance with the Servicing Criteria during the immediately
preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Securities
Exchange Act and Item 1122 of Regulation AB. Such report shall be addressed to
National City and signed by an authorized officer of the Indenture Trustee, and
shall address each of the Servicing Criteria specified in Exhibit F hereto or such
criteria as mutually agreed upon by National City and the Indenture Trustee;

     (ii) deliver to National City a report of a registered public accounting firm
reasonably acceptable to National City that attests to, and reports on, the
assessment of compliance made by the Indenture Trustee and delivered pursuant to the
preceding paragraph. Such attestation shall be in accordance with Rules 1-02(a)(3)
and 2-02(g) of Regulation S-X under the Securities Act and the Securities Exchange
Act; and

     (iii) deliver to National City 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 Securities Exchange Act (pursuant to Section 302
of the Sarbanes-Oxley Act of 2002) on behalf of the Issuer, the Master Trust or
National City with respect to a Securitization Transaction a certification
substantially in the form attached hereto as Exhibit E or such form as mutually
agreed upon by National City and the Indenture Trustee.

The Indenture Trustee acknowledges that the parties identified in clause (iii) above may
rely on the certification provided by the Indenture Trustee pursuant to such clause in
signing a Sarbanes Certification and filing such with the Commission.

          SECTION 4. Addition of Exhibits E and F to Indenture. The Indenture is hereby amended
by adding new Exhibits E and F in their respective forms attached hereto after Exhibit D-3 to the
Indenture.

          SECTION 5. Effectiveness. The amendments provided for by this Amendment shall become
effective upon the delivery of the following:

          (a) A Master Trust Tax Opinion.

          (b) An Issuer Tax Opinion.

          (c) An officer’s certificate from the Issuer to the Indenture Trustee and the Owner Trustee to
the effect that the Issuer reasonably believes that this Amendment will not

 

 

have an Adverse Effect
and is not reasonably expected to have an Adverse Effect at any time in the future.

          (d) Written confirmation from the Note Rating Agencies that this Amendment will not have a
Ratings Effect.

          (e) An Officer’s Certificate of the Issuer to the Indenture Trustee stating that the execution
of this Amendment is authorized or permitted by the Indenture and that all conditions precedent
thereto have been satisfied.

          (f) Counterparts of this Amendment, duly executed by the parties hereto.

          SECTION 6. Indenture and Indenture Supplements in Full Force and Effect as Amended.
Except as specifically amended or waived hereby, all of the terms and conditions of the Indenture
and the Indenture Supplements shall remain in full force and effect. All references to the
Indenture and the Indenture Supplements in any other document or instrument shall be deemed to mean
such Indenture and Indenture Supplements as amended by this Amendment. This Amendment shall not
constitute a novation of the Indenture or the Indenture Supplements, but shall constitute an
amendment thereof. The parties hereto agree to be bound by the terms and obligations of the
Indenture and the Indenture Supplements, as amended by this Amendment, as though the terms and
obligations of the Indenture and the Indenture Supplements were set forth herein.

          SECTION 7. Counterparts. This Amendment may be executed in any number of counterparts
and by separate parties hereto on separate counterparts, each of which when executed shall be
deemed an original, but all such counterparts taken together shall constitute one and the same
instrument.

          SECTION 8. Governing Law. THIS AMENDMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS
(OTHER THAN THE UNIFORM COMMERCIAL CODE) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

          SECTION 9. Defined Terms and Section References. Capitalized terms used herein and
not otherwise defined shall have the meanings assigned to such terms in the Indenture. All Section
or subsection references herein shall mean Sections or subsections of the Indenture, except as
otherwise provided herein.

 

 

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

	 	 	 	 	 
	 	NATIONAL CITY CREDIT CARD MASTER
NOTE TRUST, by Wilmington Trust Company, not in its
 individual
capacity but solely as Owner Trustee

 	 
	 	By:  	/s/ J. Christopher Murphy
 	 
	 	 	Name:  	J. Christopher Murphy 	 
	 	 	Title:  	Financial Services Officer 	 
	 
	 	THE BANK OF NEW YORK,

as Indenture Trustee and not in its individual

capacity

 	 
	 	By:  	/s/ John Bobko
 	 
	 	 	Name:  	John Bobko 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	Acknowledged By:
 

NATIONAL CITY BANK,

as Beneficiary and as Servicer

 	 
	By:  	/s/ Russell A. Cronin Jr.
 	 	 
	 	Name:  	Russell A. Cronin Jr. 	 	 
	 	Title:  	Sr. Vice President 	 	 
	 

 

 

EXHIBIT E

FORM OF ANNUAL CERTIFICATION

			
	     Re:	 	The Indenture dated as of August 23, 2005 (as amended, supplemented or
otherwise modified from time to time, the “Agreement”), between National City
Credit Card Master Note Trust and The Bank of New York

     I,                                         , the                          
                of [NAME OF COMPANY] (the “Company”),
certify to National City Bank, a national banking association (“National City”), and its 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 “Company Information”), and
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 that were
delivered by the Company to National City pursuant to the Agreement;

     (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 National City; and

     (4) To the best of my knowledge, except as disclosed in clause (1) above, the Company
has fulfilled its obligations under the Agreement.

	 	 	 	 	 
	 	Date:
	
 	 
	 	 	  	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

EXHIBIT F

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

     The assessment of compliance to be delivered by the Indenture Trustee shall address, at a
minimum, the criteria identified as below as “Applicable Servicing Criteria”:

	 	 	 	 	 
	Servicing Criteria	 	Applicable
	Reference	 	Criteria	 	Servicing Criteria
	 
	 	 	 	 
	 

	 	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.	 	 
	 
	 	 	 	 
	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.	 	 
	 
	 	 	 	 
	1122(d)(1)(iii)

	 	Any requirements in the transaction agreements to maintain a back-up
servicer for the credit card accounts or accounts are maintained.	 	 
	 
	 	 	 	 
	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.	 	 
	 
	 	 	 	 
	 

	 	Cash Collection and Administration	 	 
	 
	 	 	 	 
	1122(d)(2)(i)

	 	Payments on credit card accounts are deposited into the appropriate
custodial bank accounts and related bank clearing accounts no more than
two business days following receipt, or such other number of days
specified in the transaction agreements.
	 	ü
	 
	 	 	 	 
	1122(d)(2)(ii)

	 	Disbursements made via wire transfer on behalf of an obligor or to
an investor are made only by authorized personnel.
	 	ü
	 
	 	 	 	 
	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.	 	 
	 
	 	 	 	 
	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.
	 	ü
	 
	 	 	 	 
	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 Rule 13k-1(b)(1) of
the Securities Exchange Act.
	 	ü
	 
	 	 	 	 
	1122(d)(2)(vi)

	 	Unissued checks are safeguarded so as to prevent unauthorized access.	 	 
	 
	 	 	 	 
	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 are (A)
mathematically accurate; (B) prepared within 30 calendar days after the
bank statement cutoff date, or such other number of days specified in
the transaction agreements; (C) 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.	 	 

2

 

	 	 	 	 	 
	Servicing Criteria	 	Applicable
	Reference	 	Criteria	 	Servicing Criteria
	 
	 	 	 	 
	 

	 	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. 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 credit card accounts 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.
	 	ü
	 
	 	 	 	 
	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.
	 	ü
	 
	 	 	 	 
	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.
	 	ü
	 
	 	 	 	 
	 

	 	Pool Asset Administration	 	 
	 
	 	 	 	 
	1122(d)(4)(i)

	 	Collateral or security on credit card accounts is maintained as
required by the transaction agreements or related asset pool documents.	 	 
	 
	 	 	 	 
	1122(d)(4)(ii)

	 	Account and related documents are safeguarded as required by the
transaction agreements
	 	ü
	 
	 	 	 	 
	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.	 	 
	 
	 	 	 	 
	1122(d)(4)(iv)

	 	Payments on credit card accounts, 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 asset pool documents.	 	 
	 
	 	 	 	 
	1122(d)(4)(v)

	 	The Servicer’s records regarding the accounts and the accounts agree
with the Servicer’s records with respect to an obligor’s unpaid
principal balance.	 	 
	 
	 	 	 	 
	1122(d)(4)(vi)

	 	Changes with respect to the terms or status of an obligor’s account
(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.	 	 
	 
	 	 	 	 
	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.	 	 
	 
	 	 	 	 
	1122(d)(4)(viii)

	 	Records documenting collection efforts are maintained during the
period a Account 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 Accounts including, for
example, phone calls, letters and payment rescheduling plans in cases
where delinquency is deemed temporary (e.g., illness or unemployment).	 	 
	 
	 	 	 	 
	1122(d)(4)(ix)

	 	Adjustments to interest rates or rates of return for Accounts with
variable rates are computed based on the related Account documents.	 	 

3

 

	 	 	 	 	 
	Servicing Criteria	 	Applicable
	Reference	 	Criteria	 	Servicing Criteria
	 
	 	 	 	 
	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
Account 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 Account
documents and state laws; and (C) such funds are returned to the obligor
within 30 calendar days of full repayment of the related Accounts, or
such other number of days specified in the transaction agreements.	 	 
	 
	 	 	 	 
	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,
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.	 	 
	 
	 	 	 	 
	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.	 	 
	 
	 	 	 	 
	1122(d)(4)(xiv)

	 	Delinquencies, charge-offs and uncollectible accounts are
recognized and recorded in accordance with the transaction agreements.	 	 
	 
	 	 	 	 
	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.	 	 

	 	 	 	 	 
	 	[NAME OF INDENTURE TRUSTEE]
 	 
	 	  	 	 
	 	Date:  	 	 
	 	  	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

4

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