Document:

EX-4.2

 Exhibit 4.2 
  

 
  

[FORM OF] SERIES 201[    ]-[    ] SUPPLEMENT 

Dated as of [            ] [    ], 201[    ]

 to 
 THIRD AMENDED AND
RESTATED 
 POOLING AND SERVICING AGREEMENT 

Dated as of [            ] [    ], 201[    ]

 $[        ] 
  

 
 AMERICAN EXPRESS
CREDIT ACCOUNT MASTER TRUST 
 Series 201[    ]-[    ] 

 
  

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

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

and 
 THE BANK OF NEW YORK MELLON

 as Trustee 
 on behalf of the
Series 201[    ]-[    ] Certificateholders 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 ARTICLE I
	 	 CREATION OF THE SERIES 201[    ]-[    ] CERTIFICATES
	  	 	1	  
			
	 Section 1.01.
	 	 Designation
	  	 	1	  
			
	 ARTICLE II
	 	 DEFINITIONS
	  	 	2	  
			
	 Section 2.01.
	 	 Definitions
	  	 	2	  
			
	 ARTICLE III
	 	 SERVICING FEE
	  	 	15	  
			
	 Section 3.01.
	 	 Servicing Compensation
	  	 	15	  
			
	 ARTICLE IV
	 	 RIGHTS OF SERIES 201[    ]-[    ] CERTIFICATEHOLDERS AND ALLOCATION
AND APPLICATION OF COLLECTIONS
	  	 	16	  
			
	 Section 4.01.
	 	 Collections and Allocations
	  	 	16	  
			
	 Section 4.02.
	 	 Determination of Monthly Interest
	  	 	18	  
			
	 Section 4.03.
	 	 Principal Funding Account; Controlled Accumulation Period
	  	 	20	  
			
	 Section 4.04.
	 	 Required Amount
	  	 	22	  
			
	 Section 4.05.
	 	 Application of Class A Available Funds, Class B Available Funds, Collateral Available Funds and Available Principal
Collections
	  	 	23	  
			
	 Section 4.06.
	 	 Defaulted Amounts; Investor Charge-Offs
	  	 	25	  
			
	 Section 4.07.
	 	 Excess Spread; Excess Finance Charge Collections
	  	 	26	  
			
	 Section 4.08.
	 	 Reallocated Principal Collections
	  	 	27	  
			
	 Section 4.09.
	 	 Excess Finance Charge Collections
	  	 	28	  
			
	 Section 4.10.
	 	 Reallocated Investor Finance Charge Collections
	  	 	28	  
			
	 Section 4.11.
	 	 Shared Principal Collections
	  	 	29	  
			
	 Section 4.12.
	 	 Reserve Account
	  	 	30	  
			
	 Section 4.13.
	 	 Investment Instructions
	  	 	31	  
			
	 Section 4.14.
	 	 [Reserved][Determination of LIBOR]
	  	 	32	  
			
	 ARTICLE V
	 	 DISTRIBUTIONS AND REPORTS TO SERIES 201[    ]-[    ]
CERTIFICATEHOLDERS
	  	 	32	  
			
	 Section 5.01.
	 	 Distributions
	  	 	32	  
			
	 Section 5.02.
	 	
Reports and Statements to Series 201[    ]-[    ] Certificateholders
	  	 	33	  
			
	 ARTICLE VI
	 	 PAY-OUT EVENTS
	  	 	34	  
			
	 Section 6.01.
	 	 Pay-Out Events
	  	 	34	  
			
	 ARTICLE VII
	 	 OPTIONAL REPURCHASE; SERIES TERMINATION
	  	 	35	  
			
	 Section 7.01.
	 	 Optional Repurchase
	  	 	35	  
			
	 Section 7.02.
	 	 Series Termination
	  	 	36	  
			
	 ARTICLE VIII
	 	 FINAL DISTRIBUTIONS
	  	 	36	  

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

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

  
 -ii- 

 SERIES 201[    ]-[    ] SUPPLEMENT, dated
as of [            ] [    ], 201[    ] (the “Supplement”), among AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC, a
Delaware limited liability company, and AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC, a Delaware limited liability company, as Transferors, AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., a New York corporation, as Servicer, and
THE BANK OF NEW YORK MELLON, a banking corporation organized and existing under the laws of the State of New York, not in its individual capacity, but solely as Trustee. 

Pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of
[            ] [    ], 201[    ] (as amended and restated and as otherwise amended and supplemented, the “Agreement”), among the
Transferors, the Servicer and the Trustee, the AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST (the “Trust”) has been created. Section 6.03 of the Agreement provides that the Transferors may from time to time direct the Trustee to
authenticate one or more new Series of Investor Certificates representing fractional undivided interests in the Trust. The Principal Terms of any new Series are to be set forth in a Supplement to the Agreement. 

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

Creation of the Series 201[    ]-[    ] Certificates 

Section 1.01. Designation. 

(a) There is hereby created a Series of Investor Certificates to be issued pursuant to the Agreement and this Supplement to be
known as “American Express Credit Account Master Trust, Series 201[    ]-[    ].” The Series 201[    ]-[    ] Certificates shall be issued in two Classes, the
first of which shall be known as the “Class A Series 201[    ]-[    ] [    %][Floating Rate] Asset Backed Certificates” and the second of which shall be known as the “Class B
Series 201[    ]-[    ] [    %][Floating Rate] Asset Backed Certificates.” In addition, there is hereby created a third Class of uncertificated interests in the Trust which shall be
known as the “Collateral Interest, Series 201[    ]-[    ]” and which shall be deemed to be “Investor Certificates” for all purposes under the Agreement and this Supplement other than for
purposes of the definition of the term “Tax Opinion” in Section 1.01 of the Agreement. The Collateral Interest shall be considered a Class of Series 201[    ]-[    ] for all purposes of the
Agreement and this Supplement, including for purposes of voting concerning the liquidation of the Trust pursuant to Section 9.01 of the Agreement. The Collateral Interest Holder shall be deemed to be the Series Enhancer for all purposes under
the Agreement and this Supplement. 
 (b) Series 201[    ]-[    ] shall be included
in Group [I/II] and shall be a Principal Sharing Series. Series 201[    ]-[    ] shall be an Excess Allocation Series. Series 201[    ]-[    ] shall not be
subordinated to any other Series. Notwithstanding any provision in the Agreement or in this Supplement to the contrary, the first Distribution Date with respect to Series 201[    ]-[    ] shall be the
[            ] 201[    ] Distribution Date and the first Monthly Period shall begin on and include the Closing Date and end on and include
[            ] [    ], 201[    ]. 

(c) Except as expressly provided herein, (i) the provisions of Article VI and Article XII of the Agreement relating to
the registration, authentication, delivery, presentation, cancellation and surrender of Registered Certificates shall not be applicable to the Collateral Interest, and (ii) the provisions of Section 3.07 of the Agreement shall not cause
the Collateral Interest to be treated as debt for 

  
 1 

 
federal, state and local income and franchise tax purposes, but rather the Transferors intend, and together with the Collateral Interest Holder, agree to treat the Collateral Interest for
federal, state and local income and franchise tax purposes as representing an equity interest in the assets of the Trust. 

(d) Pursuant to Section 6.03(c) of the Agreement, the Transferors may, from time to time, increase the amount of the
Series 201[    ]-[    ] Certificates by issuing and selling additional Series 201[    ]-[    ] Certificates. Any additional Series
201[    ]-[    ] Certificates so issued shall be treated, for all purpose, like the Series 201[    ]-[    ] Certificates subject to the terms of the Agreement and this
Supplement. 
 (e) [Series 201[    ]-[    ] shall be a Repurchase Reporting Series.]

 (f) [Series 201[    ]-[    ] shall be an Investor Communication Reporting
Series.] 
 ARTICLE II 

Definitions 

Section 2.01. Definitions. 

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

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

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

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

“Available Principal Collections” shall mean, with respect to any Monthly Period, an amount equal
to the sum of (a) (i) an amount equal to the Principal Allocation Percentage of Series 201[    ]-[    ] Allocable Principal Collections received during such Monthly Period minus (ii) the
amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to Section 4.08 are required to fund the Required Amount for the related Distribution Date, (b) any Shared Principal Collections with respect to
other Series that are allocated to Series 201[    ]-[    ] in accordance with Section 4.04 of the Agreement and Section 4.11 of this Supplement, and (c) any other amounts which pursuant to
Section 4.05 or 4.07 of this Supplement are to be treated as Available Principal Collections with respect to the related Distribution Date. 

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

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

  
 2 

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

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

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

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

“Class A Certificate Rate” shall mean, for any Interest Accrual Period with respect to the
Class A Certificates, a per annum rate equal to [            ][LIBOR plus     ]%. 

“Class A Certificateholder” shall mean the Person in whose name a Class A Certificate is
registered in the Certificate Register. 
 “Class A Certificates” shall mean any one of the
Certificates executed by the Transferors and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A-l. 

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

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

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

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

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

  
 3 

 “Class A Monthly Interest” shall have the meaning
specified in subsection 4.02(a). 
 “Class A Principal Percentage” shall mean, with respect
to any Monthly Period (i) during the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the last day of the immediately
preceding Monthly Period and the denominator of which is the Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization Period, the percentage equivalent (which
percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is the Invested
Amount as of the close of business on the date on which the Revolving Period shall have terminated; provided, however, that with respect to the first Monthly Period, the Class A Principal Percentage shall mean the percentage equivalent
of a fraction, the numerator of which is the Class A Initial Invested Amount and denominator of which is the Initial Invested Amount. 

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

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

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

“Class B Adjusted Invested Amount” shall mean, with respect to any date of determination,
an amount equal to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date. 

“Class B Available Funds” shall mean, with respect to any Monthly Period, an amount equal to
the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating
Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date. 

“Class B Certificate Rate” shall mean, for any Interest Accrual Period with respect to the
Class B Certificates, a per annum rate equal to [            ][LIBOR plus     ]%; provided, however, that the Transferors may adjust the
Class B Certificate Rate from time to time only upon the satisfaction of the Class B Certificate Rate Adjustment Conditions. 

[“Class B Certificate Rate Adjustment Conditions” shall mean, with respect to any modification of the Class B
Certificate Rate by the Transferors, (i) the Transferors shall provide written notice to the Trustee of the modified Class B Certificate Rate no later than two Business Days prior to the date on which such modified rate is to become effective;
(ii) the modified Class B Certificate Rate shall not exceed a per annum rate equal to [            ][LIBOR plus     ]%, (iii) the Class B
Certificate Rate shall not be modified during the first Interest Accrual Period or more than two times during any subsequent Interest Accrual Period; (iv) the Transferors shall certify in the related notice that the modified Class B Certificate
Rate is a fixed rate or a “qualified floating rate” (within the meaning of Treasury Regulations section 1.1275-5) otherwise meeting such relevant requirements as would cause the Class B Certificates to constitute variable rate debt
instruments (within the meaning of Treasury Regulations section 1.1275-5, including without limitation paragraph (a)(4) thereof) and determined under procedures consistent with those applicable to reset bonds (as described in Treasury Regulations
section 1.1275-5(f)) such that, in either case, the fair market value of the Class B Certificates will be the Class B Invested Amount; (v) the Transferors shall certify in the related notice that the Class B Certificates have not been
previously sold by TRS or any of its Affiliates (including, without limitation, within the meaning of Affiliate, solely for purposes of this clause (v), any Person related to TRS within the meaning of sections 267(b) or 707(b)(1) of the Internal
Revenue Code) to a Person who is not TRS or any of its Affiliates; (vi) the Transferors 

  
 4 

 
shall provide to the Trustee an Opinion of Counsel to the effect that such modification shall not adversely affect the status of the Class B Certificates as debt for federal income tax purposes;
(vii) if the modified Class B Certificate Rate is a fixed rate or a rate based on an index other than LIBOR, the Transferors shall provide two days’ notice of such modified rate to the Rating Agencies; and (viii) if the modified Class
B Certificate Rate is a fixed rate or a rate based on an index other than LIBOR, the Transferors shall certify in the related notice to the Trustee that the Rating Agencies have been notified pursuant to clause (vii) above.] 

“Class B Certificateholder” shall mean the Person in whose name a Class B Certificate is registered
in the Certificate Register. 
 “Class B Certificates” shall mean any one of the Certificates
executed by the Transferors and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A-2. 

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

“Class B Initial Invested Amount” shall mean $[        ]. 

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

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

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

“Class B Principal Percentage” shall mean, with respect to any Monthly Period, (i) during
the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Invested Amount as of the last day of the immediately preceding Monthly Period and the denominator of
which is the Invested Amount as of such day and (ii) during the Controlled Accumulation Period, the Early Amortization Period or any Partial Amortization 

  
 5 

 
Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Invested Amount as of the close of business on the date on which
the Revolving Period shall have terminated and the denominator of which is the Invested Amount as of the close of business on the date on which the Revolving Period shall have terminated; provided, however, that with respect to the first
Monthly Period, the Class B Principal Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Invested Amount and the denominator of which is the Initial Invested Amount. 

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

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

“Closing Date” shall mean [            ]
[    ], 201[    ]; provided that, for purposes of determining the date on which the first Monthly Period begins, the Closing Date shall be deemed to be the close of business on
[            ] [    ], 201[    ]. 

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

“Collateral Available Funds” shall mean with respect to any Distribution Date, the Collateral
Floating Percentage of Reallocated Investor Finance Charge Collections with respect to the preceding Monthly Period. 

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

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

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

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

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

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

“Collateral Invested Amount” shall mean, when used with respect to any date, an amount equal to
(a) the Collateral Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Collateral Interest Holder prior to such date, minus (c) the aggregate amount of Collateral

  
 6 

 
Charge-Offs for all prior Distribution Dates pursuant to subsection 4.06(c), minus (d) the aggregate amount of Reallocated Principal Collections allocated on all prior Distribution
Dates pursuant to Section 4.08 allocable to the Collateral Invested Amount, minus (e) an amount equal to the amount by which the Collateral Invested Amount has been reduced on all prior Distribution Dates pursuant to subsections
4.06(a) and (b), plus (f) the amount allocated and available on all prior Distribution Dates pursuant to subsection 4.07(i), for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e), and
plus (g) the principal amount of any additional Collateral Interest issued after the Closing Date in accordance with Section 6.03(c) of the Agreement; provided, however, that the Collateral Invested Amount shall not be
reduced below zero. 
 “Collateral Minimum Interest Rate” shall mean the rate specified in the Transfer
Agreement (as modified as described therein); provided that for purposes of this Supplement, such rate shall not exceed [            ][LIBOR plus     ]%
per annum. 
 “Collateral Minimum Monthly Interest” shall have the meaning specified in subsection 4.02(c).

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

“Collateral Senior Additional Interest” shall have the meaning specified in subsection 4.02(d).

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

  
 7 

 “Collateral Senior Required Amount” shall have the meaning set
forth in subsection 4.04(c). 
 “Collateral Servicing Fee” shall have the meaning set forth in
Section 3.01. 
 “Controlled Accumulation Amount” shall mean, for any Distribution Date with
respect to the Controlled Accumulation Period, $[        ]; provided, however, that, if the Controlled Accumulation Period Length is determined to be less than 12 months, the Controlled Accumulation
Amount for each Distribution Date with respect to the Controlled Accumulation Period will be equal to (i) the product of (x) the sum of the Class A Initial Invested Amount and the Class B Initial Invested Amount and (y) the
Controlled Accumulation Period Factor for the related Monthly Period divided by (ii) the Required Accumulation Factor Number. 

“Controlled Accumulation Period” shall mean, unless a Pay-Out Event shall have occurred prior
thereto, the period commencing at the close of business on the last day of the [            ] 201[    ] Monthly Period or such later date as is determined in accordance
with subsection 4.03(c) and ending on the first to occur of (a) the commencement of the Early Amortization Period, (b) the payment in full of the Invested Amount and (c) the Expected Final Payment Date. 

“Controlled Accumulation Period Factor” shall mean, for each Monthly Period, a fraction, the
numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of (a) the Series Invested
Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 201[    ]-[    ]) that
are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing Series and are in their revolving periods. 

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

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

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

  
 8 

 
(ii) a fraction, the numerator of which is the actual number of days from and including the prior Distribution Date to but excluding the then current Distribution Date and the denominator of
which is 360 and (iii) the Principal Funding Account Balance, if any, as of the preceding Distribution Date that is allocable to the principal of the Class B Certificates.] 

“Deficit Controlled Accumulation Amount” shall mean (a) on the first Distribution Date
with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each
subsequent Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent
Distribution Date. 
 “Distribution Date” shall mean
[            ] [    ], 201[    ], and the 15th day of each calendar month thereafter, or if such 15th day is not a Business Day, the next succeeding
Business Day. 
 “Early Amortization Period” shall mean the period commencing at the close of
business on the Business Day immediately preceding the day on which a Pay-Out Event with respect to Series 201[    ]-[    ] is deemed to have occurred, and ending on the first to occur of (i) the payment
in full of the Invested Amount or (ii) the Series 201[    ]-[    ] Termination Date. 

“Excess Finance Charge Collections” shall mean collections of Finance Charge Receivables and certain other
amounts allocable to the Certificateholders’ Interest of any Excess Allocation Series in excess of the amounts necessary to make required payments with respect to such series (including payments to the provider of any related Series
Enhancement) that are payable out of collections of Finance Charge Receivables. 
 “Excess Spread”
shall mean, with respect to any Distribution Date, the sum of the amounts, if any, specified pursuant to subsections 4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution Date. 

“Expected Final Payment Date” shall mean the
[            ] 201[    ] Distribution Date. 

“Finance Charge Shortfall” shall have the meaning specified in Section 4.09. 

“Fitch” shall mean Fitch Ratings, Inc. or its successor. 

“Floating Allocation Percentage” shall mean, with respect to any Monthly Period, the percentage
equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Adjusted Invested Amount as of the last day of the preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount)
and the denominator of which is the product of (x) the Series 201[    ]-[    ] Allocation Percentage with respect to such Monthly Period and (y) the sum of (i) the total amount of Principal
Receivables in the Trust as of such day (or with respect to the first Monthly Period, the total amount of Principal Receivables in the Trust on the Closing Date) and (ii) the principal amount on deposit in the Special Funding Account as of such
last day (or with respect to the first Monthly Period, as of the Closing Date); provided, however, that with respect to any Monthly Period in which an Addition Date for an Aggregate Addition or a Removal Date occurs the amount in (y)(i) above
shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including the first day of such Monthly Period to but excluding the related
Addition Date or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or Removal Date for the period from and including the related Addition Date or Removal Date to
and including the last day of such Monthly Period. 

  
 9 

 “Group [I/II]” shall mean Series
201[    ]-[    ] and each other Series specified in the related Supplement to be included in Group [I/II]. 

“Group [I/II] Investor Additional Amounts” shall mean, with respect to any Distribution Date,
the sum of (a) Series 201[    ]-[    ] Additional Amounts for such Distribution Date and (b) for all other Series included in Group [I/II], the sum of (i) the aggregate net amount by which the
Invested Amounts of such Series have been reduced as a result of investor charge-offs, subordination of principal collections and funding the investor default amounts in respect of any Class or Series Enhancement interests of such Series as of such
Distribution Date and (ii) if the applicable Supplements so provide, the aggregate unpaid amount of interest at the applicable certificate rates that has accrued on the amounts described in the preceding clause (i) for such Distribution
Date. 
 “Group [I/II] Investor Default Amount” shall mean, with respect to any Distribution
Date, the sum of (a) the Investor Default Amount for such Distribution Date and (b) the aggregate amount of the investor default amounts for all other Series included in Group [I/II] for such Distribution Date. 

“Group [I/II] Investor Finance Charge Collections” shall mean, with respect to any
Distribution Date, the sum of (a) Investor Finance Charge Collections for such Distribution Date and (b) the aggregate amount of the investor finance charge collections for all other Series included in Group [I/II] for such Distribution
Date. 
 “Group [I/II] Investor Monthly Fees” shall mean with respect to any Distribution
Date, the sum of (a) Series 201[    ]-[    ] Monthly Fees for such Distribution Date and (b) the aggregate amount of the servicing fees, investor fees, fees payable to any Series Enhancer and any
other similar fees, which are payable out of reallocated investor finance charge collections pursuant to the related Supplements, for all other Series included in Group [I/II] for such Distribution Date. 

“Group [I/II] Investor Monthly Interest” shall mean, with respect to any Distribution Date, the sum of
(a) Series 201[    ]-[    ] Monthly Interest for such Distribution Date and (b) the aggregate amount of monthly interest, including overdue monthly interest and interest on such overdue monthly
interest, if such amounts are payable out of reallocated investor finance charge collections pursuant to the related Supplements, for all other Series included in Group [I/II] for such Distribution Date. 

“Initial Invested Amount” shall mean $[        ]. 

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

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

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

“Investor Charge-Offs” shall mean Class A Investor Charge-Offs, Class B Investor Charge-Offs and
Collateral Charge-Offs. 
 “Investor Default Amount” shall mean, with respect to any Distribution
Date, an amount equal to the product of (a) the Series 201[    ]-[    ] Allocable Defaulted Amount for the related Monthly Period and (b) the Floating Allocation Percentage for such Monthly Period.

  
 10 

 “Investor Finance Charge Collections” shall mean
with respect to any Distribution Date, an amount equal to the product of (a) the Floating Allocation Percentage for the related Monthly Period and (b) Series 201[    ]-[    ] Allocable Finance Charge
Collections deposited in the Collection Account for the related Monthly Period. 
 [“LIBOR” shall mean, for
any Interest Accrual Period, a per annum interest rate determined by the Trustee for such Interest Accrual Period in accordance with the provisions of Section 4.14.] 

[“LIBOR Determination Date” shall mean
[            ] [    ], 201[    ] for the period from and including the Closing Date to but excluding
[            ] [    ], 201[    ], and for every other Interest Accrual Period, the second London Business Day prior to the commencement of such
Interest Accrual Period.] 
 [“London Business Day” shall mean any day on which dealings in deposits in
United States dollars are transacted in the London interbank market.] 
 “Monthly Interest” shall
mean, with respect to any Distribution Date, the Class A Monthly Interest, the Class B Monthly Interest and the Collateral Minimum Monthly Interest for such Distribution Date. 

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

“Monthly Servicing Fee” shall have the meaning specified in subsection 3.01. 

“Pay-Out Event” shall mean any Pay-Out Event specified in Section 6.01. 

“Permitted Assignee” shall mean any Person who, if it were the Collateral Interest Holder or a holder of an
interest in the Trust, as applicable, would not cause the Trust to be taxable as a publicly traded partnership for federal income tax purposes. 

“Principal Allocation Percentage” shall mean, with respect to any day during a Monthly Period, the
percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is (a) during the Revolving Period, the Series Adjusted Invested Amount for Series 201[    ]-[    ]
as of the last day of the immediately preceding Monthly Period (or, in the case of the first Monthly Period, the Initial Invested Amount) and (b) during the Controlled Accumulation Period, the Early Amortization Period or any Partial
Amortization Period, the Series Adjusted Invested Amount for Series 201[    ]-[    ] as of the close of business on the date on which the Revolving Period shall have terminated and the denominator of which is
the product of (x) the sum of (i) the total amount of Principal Receivables in the Trust as of the last day of the immediately preceding Monthly Period (or with respect to the first Monthly Period, the total amount of Principal Receivables
in the Trust as of the Closing Date) and (ii) the principal amount on deposit in the Special Funding Account as of such last day (or with respect to the first Monthly Period, the Closing Date) and (y) the Series
201[    ]-[    ] Allocation Percentage as of the last day of the immediately preceding Monthly Period; provided, however, that with respect to any Monthly Period in which an Addition Date for an
Aggregate Addition or a Removal Date occurs the amount in (x)(i) above shall be (1) the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period for the period from and including
the first day of such Monthly Period to but excluding the related Addition Date or Removal Date and (2) the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date or

  
 11 

 
Removal Date for the period from and including the related Addition Date or Removal Date to and including the last day of such Monthly Period; and provided further, that if after the
commencement of the Controlled Accumulation Period a Pay-Out Event occurs with respect to another Series that was designated in the Supplement therefor as a Series that is a “Paired Series” with respect to Series
201[    ]-[    ], the Transferors may, by written notice delivered to the Trustee and the Servicer, designate a different numerator for the foregoing fraction, provided that (x) such numerator is not less
than the Adjusted Invested Amount as of the last day of the revolving period for such Paired Series, (y) the Transferors shall have received written notice from each Rating Agency that the Rating Agency Condition has been satisfied with respect
to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee and (z) each Transferor shall have delivered to the Trustee an Officer’s Certificate of such Transferor to the effect that,
based on the facts known to such officer at such time, in the reasonable belief of such Transferor, such designation will not cause a Pay-Out Event or an event that, after the giving of notice or the lapse of time, would constitute a Pay-Out Event,
to occur with respect to Series 201[    ]-[    ]. 

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

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

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

“Reallocated Investor Finance Charge Collections” shall mean that portion of Group [I/II]
Investor Finance Charge Collections allocated to Series 201[    ]-[    ] pursuant to Section 4.10. 

“Reallocated Principal Collections” shall mean, with respect to any Monthly Period, the product of
(a) the Series 201[    ]-[    ] Allocable Principal Collections deposited in the Collection Account for such Monthly Period and (b) the sum of the Class B Principal Percentage and the Collateral
Principal Percentage. 
 “Reassignment Amount” shall mean, with respect to any Distribution Date,
after giving effect to any deposits and distributions otherwise to be made on such Distribution Date, the sum of (i) the Adjusted Invested Amount on such Distribution Date, plus (ii) Monthly Interest for such Distribution Date and
any Monthly Interest previously due but not distributed to the Series 201[    ]-[    ] Certificateholders on a prior Distribution Date, plus (iii) the amount of Additional Interest, if any, for
such Distribution Date and any Additional Interest previously due but not distributed to the Series 201[    ]-[    ] Certificateholders on a prior Distribution Date. 

[“Reference Banks” shall mean four major banks in the London interbank market selected by the Servicer.] 

“Required Accumulation Factor Number” shall be equal to a fraction, rounded upwards to the
nearest whole number, the numerator of which is one and the denominator of which is equal to the lowest monthly principal payment rate on the Accounts, expressed as a decimal, for the three months preceding the date of such calculation. 

  
 12 

 “Required Amount” shall mean, with respect to any Monthly
Period, the sum of the Class A Required Amount, the Class B Required Amount and the Collateral Senior Required Amount. 

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

“Reserve Account Funding Date” shall mean the Distribution Date which occurs not later than
the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in
the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the [            ] 201[    ] Monthly Period or any Monthly Period
thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the
[            ] 201[    ] Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such
earlier Distribution Date as the Transferors may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio
Yield for such Monthly Period minus the Base Rate for such Monthly Period. 

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

“Reserve Draw Amount” shall have the meaning specified in subsection 4.12(c). 

[“Reuters Screen LIBOR01 Page” shall mean the display page currently designated as page LIBOR01 on the
Reuters Screen (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices).] 

“Revolving Period” shall mean the period beginning at the close of business on the Series Cut-Off Date
and ending on the earlier of (a) the close of business on the day immediately preceding the day the Controlled Accumulation Period commences and (b) the close of business on the day immediately preceding the day the Early Amortization
Period commences. 
 “Series 201[    ]-[    ]” shall mean the
Series of Certificates the terms of which are specified in this Supplement. 

“Series 201[    ]-[    ] Additional Amounts” shall
mean, with respect to any Distribution Date, the sum of the amounts determined pursuant to subsections 4.07(b), (e) and (i) for such Distribution Date. 

“Series 201[    ]-[    ] Allocable Defaulted 
Amount” shall mean the Series Allocable Defaulted Amount with respect to Series 201[    ]-[    ]. 

  
 13 

“Series 201[    ]-[    ] Allocable Finance Charge 
Collections” shall mean the Series Allocable Finance Charge Collections with respect to Series 201[    ]-[    ]. 

“Series 201[    ]-[    ] Allocable Principal 
Collections” shall mean the Series Allocable Principal Collections with respect to Series 201[    ]-[    ]. 

“Series 201[    ]-[    ] Allocation Percentage” shall
mean the Series Allocation Percentage with respect to Series 201[    ]-[    ]. 

“Series 201[    ]-[    ] Certificate” shall mean a
Class A Certificate or a Class B Certificate or the Collateral Interest. 

“Series 201[    ]-[    ] Certificateholder” shall mean a
Class A Certificateholder or a Class B Certificateholder or the Collateral Interest Holder. 

“Series 201[    ]-[    ] Certificateholders’ 
Interest” shall mean the Certificateholders’ Interest for Series 201[    ]-[    ], including the Collateral Interest. 

“Series 201[    ]-[    ] Monthly Fees” shall mean,
with respect to any Distribution Date, the amount determined pursuant to subsections 4.05(a)(ii), (b)(ii) and (c)(i) and subsection 4.07(g). 

“Series 201[    ]-[    ] Monthly Interest” shall mean the amounts
determined pursuant to subsections 4.02(a), (b) and (d). 

“Series 201[    ]-[    ] Principal Shortfall” shall
have the meaning specified in Section 4.11. 

“Series 201[    ]-[    ] Termination Date” shall mean
the [            ] 201[    ] Distribution Date. 

“Series Adjusted Portfolio Yield” shall mean, with respect to any Monthly Period, the
annualized percentage equivalent of a fraction, (A) the numerator of which is equal to (a) Reallocated Investor Finance Charge Collections with respect to such Monthly Period, plus (b) the amount of any Principal Funding
Account Investment Proceeds for the related Distribution Date, plus (c) provided that each Rating Agency has consented in writing to the inclusion thereof in calculating the Series Adjusted Portfolio Yield, any Excess Finance
Charge Collections that are allocated to Series 201[    ]-[    ] with respect to such Monthly Period, plus (d) the amount of funds, if any, withdrawn from the Reserve Account which pursuant to
subsection 4.12(d) are required to be deposited into the Collection Account and included as Class A Available Funds for the Distribution Date with respect to such Monthly Period, minus (e) the Investor Default Amount for the
Distribution Date with respect to such Monthly Period, and (B) the denominator of which is the Invested Amount as of the last day of the preceding Monthly Period. 

“Series Cut-Off Date” shall mean the close of business on
[            ] [    ], 201[    ]. 

“Series Invested Amount” shall mean, on any date of determination, an amount equal to the Initial
Invested Amount plus the aggregate initial principal amount of any additional Series 201[    ]-[    ] Certificates issued pursuant to Section 6.03(c) of the Agreement. 

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

 “Servicing Base Amount” shall have the meaning specified in Section 3.01. 

“Servicing Fee Rate” shall mean 2.0% per annum. 

  
 14 

 “Special Payment Date” shall mean each Distribution
Date with respect to the Early Amortization Period. 
 “Transfer” shall have the meaning specified in
subsection 9.07(a). 
 “Transfer Agreement” shall mean the Transfer and Administration Agreement, dated as
of [            ] [    ], 201[    ], among RFC III and RFC IV, as transferors, TRS, as administrator, and the American Express Credit Account Secured
Note Trust 201[    ]-[    ], as issuer, as the same may be amended, supplemented or otherwise modified from time to time. 

“Transferor Percentage” shall mean 100% minus (a) the Floating Allocation Percentage, when
used at any time with respect to Finance Charge Receivables and Defaulted Receivables, or (b) the Principal Allocation Percentage, when used at any time with respect to Principal Receivables. 

(b) Notwithstanding anything to the contrary in this Supplement or the Agreement, the term
“Rating Agency” shall mean, whenever used in this Supplement or the Agreement with respect to Series 201[    ]-[    ], Fitch and Standard & Poor’s. As used in this
Supplement and in the Agreement with respect to Series 201[    ]-[    ], “highest investment category” shall mean (i) in the case of Fitch, AAA or F1+, as applicable and (ii) in the case of
Standard & Poor’s, AAA or A-1+, as applicable. 
 (c) Each capitalized term defined herein shall relate to the
Series 201[    ]-[    ] Certificates and no other Series of Certificates issued by the Trust, unless the context otherwise requires. All capitalized terms used herein and not otherwise defined herein have the
meanings ascribed to them in the Agreement. In the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Agreement, the terms and provisions of this Supplement shall
govern. 
 (d) The words “hereof,” “herein” and “hereunder” and words of similar import when
used in this Supplement shall refer to this Supplement as a whole and not to any particular provision of this Supplement; references to any Article, subsection, Section or Exhibit are references to Articles, subsections, Sections and Exhibits in or
to this Supplement unless otherwise specified; and the term “including” means “including without limitation.” 
 ARTICLE
III 
 Servicing Fee 

Section 3.01. Servicing Compensation. The share of the Servicing Fee allocable to the Series
201[    ]-[    ] Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee
Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day
of the Monthly Period preceding such Distribution Date and the Series 201[    ]-[    ] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is
referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the
“Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly
Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage,
(b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”)
shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base 

  
 15 

 
Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements)
and in no event shall the Trust, the Trustee or the Series 201[    ]-[    ] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the
investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and
Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates. 
 ARTICLE IV 

Rights of Series 201[    ]-[    ] Certificateholders and 

Allocation and Application of Collections 

Section 4.01. Collections and Allocations. 

(a) Allocations. Collections of Finance Charge Receivables and Principal Receivables and Defaulted Receivables
allocated to Series 201[    ]-[    ] pursuant to Article IV of the Agreement (and, as described herein, Collections of Finance Charge Receivables reallocated from other Series in Group [I/II]) shall be
allocated and distributed or reallocated as set forth in this Article. 
 (b)
Payments to the Transferor. The Servicer shall on each Deposit Date withdraw from the Collection Account and pay to the Holders of the Transferor Certificates the following amounts: 

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

(ii) an amount equal to the Transferor Percentage for the related Monthly Period of Series
201[    ]-[    ] Allocable Principal Collections deposited in the Collection Account, if the Transferor Amount (determined after giving effect to any Principal Receivables transferred to the Trust on such
Deposit Date) exceeds zero. 
 The withdrawals to be made from the Collection Account pursuant to this subsection 4.01(b) do
not apply to deposits into the Collection Account that do not represent Collections, including payment of the purchase price for the Certificateholders’ Interest pursuant to Section 2.06 or 10.01 of the Agreement, payment of the purchase
price for the Series 201[    ]-[    ] Certificateholders’ Interest pursuant to Section 7.01 of this Supplement and proceeds from the sale, disposition or liquidation of Receivables pursuant to
Section 9.01 or 12.02 of the Agreement. 
 (c)
Allocations to the Series 201[    ]-[    ] Certificateholders. The Servicer shall, prior to the close of business on each Deposit Date, allocate to the Series
201[    ]-[    ] Certificateholders the following amounts as set forth below: 

(i) Allocations of Finance Charge Collections. The Servicer shall allocate to the
Series 201[    ]-[    ] Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the
Series 201[    ]-[    ] Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date. 

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

  
 16 

 (x)
Allocations During the Revolving Period. During the Revolving Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the
Principal Allocation Percentage and (III) the Series 201[    ]-[    ] Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such
Deposit Date, shall be allocated to the Series 201[    ]-[    ] Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of
(I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 201[    ]-[    ] Allocation Percentage and (IV) the aggregate amount of Collections of Principal
Receivables deposited in the Collection Account on such Deposit Date shall be allocated to the Series 201[    ]-[    ] Certificateholders and first, if any other Principal Sharing Series is outstanding and in
its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor
Certificates; provided, however, that such amount to be paid to the Holders of the Transferor Certificates on any Deposit Date shall be paid to such Holders only if the Transferor Amount on such Deposit Date is greater than the Required
Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 

(y) Allocations During the Controlled Accumulation Period. During the
Controlled Accumulation Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series
201[    ]-[    ] Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series
201[    ]-[    ] Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A Principal Percentage and
(II) the Principal Allocation Percentage and (III) the Series 201[    ]-[    ] Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on
such Deposit Date (the product specified in this clause (B) for any such date is hereinafter referred to as a “Percentage Allocation”) shall be allocated to the Series
201[    ]-[    ] Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that if the sum of such Percentage Allocation and all preceding Percentage
Allocations with respect to the same Monthly Period exceeds the Controlled Deposit Amount during the Controlled Accumulation Period for the related Distribution Date, then such excess shall not be treated as a Percentage Allocation and shall be
first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related
Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such Deposit Date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the
Trust on such day) and otherwise shall be deposited in the Special Funding Account. 
 (z)
Allocations During the Early Amortization Period. During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series
201[    ]-[    ] Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the 

  
 17 

 
Collection Account on such Deposit Date, shall be allocated to the Series 201[    ]-[    ] Certificateholders and retained in the Collection Account until
applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series
201[    ]-[    ] Certificateholders, the remainder that has not been so deposited and allocated shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or
accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor
Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account. 

Section 4.02. Determination of Monthly Interest. 

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

  
 18 

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

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

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

  
 19 

 
effect during the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date, and (ii) such Collateral Interest Shortfall (or the
portion thereof which has not been paid to the Collateral Interest Holder)]. Notwithstanding anything to the contrary herein, Collateral Additional Interest shall be payable or distributed to the Collateral Interest Holder only to the extent
permitted by applicable law. 
 (d) The amount of monthly interest (“Collateral Senior Minimum Monthly
Interest”) distributable from the Collection Account with respect to the Collateral Senior Invested Amount on any Distribution Date shall be an amount equal to [one-twelfth of the product of (i) the Collateral Senior Minimum Interest
Rate and (ii) the Collateral Senior Invested Amount; provided that Collateral Senior Minimum Monthly Interest for the first Distribution Date shall be an amount equal to $[        ]][the product of
(i) (A) a fraction, the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date (or in the case of the first Distribution Date, the Closing Date) to (but excluding)
such Distribution Date and the denominator of which is 360 and (B) the Collateral Senior Minimum Interest Rate in effect with respect to the period from (and including) the immediately preceding Distribution Date (or in the case of the first
Distribution Date, the Closing Date) to (but excluding) such Distribution Date, and (ii) the Collateral Senior Invested Amount][; provided, however, that in the event the Collateral Senior Minimum Interest Rate has been modified
(as described in the definition thereof) during the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date, the rate described in (i)[(B)] above shall reflect a weighted average rate
calculated on the basis of the actual number of days each Collateral Senior Minimum Interest Rate was in effect during such period and a year of 360 days]. 

On the Determination Date preceding each Distribution Date, the Servicer shall determine an amount (the
“Collateral Senior Interest Shortfall”) equal to (x) the aggregate Collateral Senior Minimum Monthly Interest for such Distribution Date minus (y) the aggregate amount of funds allocated and available to
pay such Collateral Senior Minimum Monthly Interest on such Distribution Date. If the Collateral Senior Interest Shortfall with respect to any Distribution Date is greater than zero, on each subsequent Distribution Date until such Collateral Senior
Interest Shortfall is fully paid, an additional amount (“Collateral Senior Additional Interest”) shall be payable as provided herein with respect to the Collateral Senior Invested Amount equal to [one-twelfth of the
product of (i) the Collateral Senior Minimum Interest Rate and (ii) such Collateral Senior Interest Shortfall (or the portion thereof which has not been paid to the Collateral Interest Holder)][the product of (i) (A) a fraction,
the numerator of which is the actual number of days in the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date and the denominator of which is 360 and (B) the Collateral Senior
Minimum Interest Rate in effect during the period from (and including) the immediately preceding Distribution Date to (but excluding) such Distribution Date, and (ii) such Collateral Senior Interest Shortfall (or the portion thereof which has
not been paid to the Collateral Interest Holder)]. Notwithstanding anything to the contrary herein, Collateral Senior Additional Interest shall be payable or distributed to the Collateral Interest Holder only to the extent permitted by applicable
law. 
 Section 4.03. Principal Funding Account; Controlled Accumulation Period. 

(a) (i) The Servicer, for the benefit of the Series 201[    ]-[    ]
Certificateholders, shall establish and maintain in the name of the Trustee, on behalf of the Trust, an Eligible Deposit Account (the “Principal Funding Account”), bearing a designation clearly indicating that the funds
deposited therein and the property credited thereto are held for the benefit of the Series 201[    ]-[    ] Certificateholders. The Principal Funding Account shall initially be established with The Bank of New
York Mellon. 
 (ii) At the written direction of the Servicer, funds on deposit in the Principal Funding Account shall be
invested by the Trustee in Eligible Investments selected by the Servicer; 

  
 20 

 
provided, however, that if no such written direction is provided, funds on deposit in the Principal Funding Account shall remain uninvested. All such Eligible Investments shall be held by
the Trustee for the benefit of the Series 201[    ]-[    ] Certificateholders; provided that on each Distribution Date all interest and other investment income (net of losses and investment expenses)
(“Principal Funding Account Investment Proceeds”) on funds on deposit therein shall be applied as set forth in paragraph (iii) below. Subject to the first sentence of this paragraph (a)(ii), funds on deposit in the Principal
Funding Account shall be invested in Eligible Investments that will mature so that such funds will be available at the close of business on the Transfer Date preceding the following Distribution Date. Unless the Servicer directs otherwise, funds
deposited in the Principal Funding Account on a Transfer Date (which immediately precedes a Distribution Date) upon the maturity of any Eligible Investments are not required to be invested overnight. No such Eligible Investment shall be disposed of
prior to its maturity; provided, however, that the Trustee shall sell, liquidate or dispose of any such Eligible Investment if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any
other amount with respect to such Eligible Investment; provided further, however, that the Servicer shall deliver prompt written notice to the Trustee of any such default; and provided further that, subject to Section 11.01 of the
Agreement, the Trustee will not in any way be held liable by reason of any insufficiency in such Principal Funding Account resulting from any loss on any Eligible Investment included therein except for losses attributable to the Trustee’s
failure to make payments on such Eligible Investments issued by the Trustee, in its commercial capacity, in accordance with their terms. 

(iii) On each Distribution Date with respect to the Controlled Accumulation Period, the Servicer shall direct the Trustee in
writing to withdraw from the Principal Funding Account and deposit into the Collection Account all Principal Funding Account Investment Proceeds then on deposit in the Principal Funding Account and such Principal Funding Account Investment Proceeds
shall be treated as a portion of Class A Available Funds and Class B Available Funds. 
 (iv) Reinvested interest and
other investment income on funds deposited in the Principal Funding Account shall not be considered to be principal amounts on deposit therein for purposes of this Supplement. 

(b) (i) The Trustee shall possess all right, title and interest in all funds and property from time to time deposited in
or credited to the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the sole dominion and control of the Trustee for the benefit of the Series
201[    ]-[    ] Certificateholders. If, at any time, the Principal Funding Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or such
longer period, not to exceed 30 calendar days, as to which each Rating Agency may consent) establish a new Principal Funding Account meeting the conditions specified in paragraph (a)(i) above as an Eligible Deposit Account and shall transfer any
cash or any investments to such new Principal Funding Account. 
 (ii) Pursuant to the authority granted to the Servicer in
subsection 3.01(b) of the Agreement, the Servicer shall have the power to make withdrawals and payments or to instruct the Trustee to make withdrawals and payments from the Principal Funding Account for the purposes of carrying out the
Servicer’s or Trustee’s duties hereunder. Pursuant to the authority granted to the Paying Agent in Section 5.01 of this Supplement and Section 6.07 of the Agreement, the Paying Agent shall have the power to withdraw funds from
the Principal Funding Account for the purpose of making distributions to the Series 201[    ]-[    ] Certificateholders. 

(c) The Controlled Accumulation Period is scheduled to commence at the close of business on the last day of the
[            ] 201[    ] Monthly Period; provided, however, that if the Controlled Accumulation Period Length (which shall be determined as described below) is
less than 12 months, the date on which the Controlled Accumulation Period actually commences will be delayed to the close of business on the last day of the month preceding the month that is the number of months prior to the

  
 21 

 
Expected Final Payment Date at least equal to the Controlled Accumulation Period Length and, as a result, the number of Monthly Periods in the Controlled Accumulation Period will at least equal
the Controlled Accumulation Period Length. On the Determination Date immediately preceding the [            ] 201[    ] Distribution Date, and on each Determination Date
thereafter that occurs prior to the Determination Date occurring in the Monthly Period in which the Controlled Accumulation Period commences, the Servicer will determine the “Controlled Accumulation Period Length”
which will equal the number of months such that the sum of the Controlled Accumulation Period Factors for each month during such period will be equal to or greater than the Required Accumulation Factor Number; provided, however, that the
Controlled Accumulation Period Length shall not be less than one month. Notwithstanding the foregoing, if the Controlled Accumulation Period Length shall have been determined to be less than 12 months and, after the date on which such determination
is made, a Pay-Out Event or Reinvestment Event (as those terms are defined in the Supplement for such Series) shall occur with respect to any outstanding Principal Sharing Series other than Series
201[    ]-[    ], the Controlled Accumulation Period will commence on the earlier of (i) the first day of the Monthly Period immediately succeeding the date that such Pay-Out Event or Reinvestment Event
shall have occurred with respect to such Series and (ii) the date on which the Controlled Accumulation Period is then scheduled to commence. 

Section 4.04. Required Amount. 

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

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

  
 22 

 
Distribution Date, (ii) if TRS or an Affiliate of TRS is no longer the Servicer, any Collateral Servicing Fee previously due but not paid to the Servicer, (iii) Collateral Senior
Minimum Monthly Interest for such Distribution Date, (iv) any Collateral Senior Minimum Monthly Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date, (v) Collateral Senior Additional
Interest, if any, for such Distribution Date, and (vi) any Collateral Senior Additional Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date exceeds (y) the sum of (A) the amount
of Collateral Available Funds to be applied under Section 4.05(c)(i) on such Distribution Date and (B) the amount of Excess Spread and Excess Finance Charge Collections available to be applied pursuant to subsection 4.07(f) on such
Distribution Date. In the event that the Collateral Senior Required Amount is greater than zero, the Servicer shall give written notice to the Transferors and the Trustee of such Collateral Senior Required Amount on the date of computation. 

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

(a) On each Distribution Date, an amount equal to the Class A Available Funds with respect to such Distribution Date will
be distributed or deposited in the following priority: 
 (i) an amount equal to Class A Monthly
Interest for such Distribution Date, plus the amount of any Class A Monthly Interest previously due but not distributed to Class A Certificateholders on a prior Distribution Date, plus the amount of any Class A
Additional Interest for such Distribution Date and any Class A Additional Interest previously due but not distributed to Class A Certificateholders on a prior Distribution Date, shall be distributed to the Paying Agent for payment to the
Class A Certificateholders; 
 (ii) if TRS or an Affiliate of TRS is no longer the Servicer, an amount
equal to the Class A Servicing Fee for such Distribution Date, plus the amount of any Class A Servicing Fee previously due but not distributed to the Servicer on a prior Distribution Date, shall be distributed to the Servicer; 

(iii) an amount equal to the Class A Investor Default Amount for such Distribution Date shall be treated
as a portion of Available Principal Collections for such Distribution Date; and 
 (iv) the balance, if any,
shall constitute Excess Spread and shall be allocated and distributed or deposited as set forth in Section 4.07. 
 (b)
On each Distribution Date, an amount equal to the Class B Available Funds with respect to such Distribution Date will be distributed or deposited in the following priority: 

(i) an amount equal to Class B Monthly Interest for such Distribution Date, plus the amount of any Class
B Monthly Interest previously due but not distributed to Class B Certificateholders on a prior Distribution Date, plus the amount of any Class B Additional Interest for such Distribution Date and any Class B Additional Interest previously due
but not distributed to Class B Certificateholders on a prior Distribution Date, shall be distributed to the Paying Agent for payment to the Class B Certificateholders; 

  
 23 

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

(iii) the balance, if any, shall constitute Excess Spread and shall be allocated and distributed or deposited
as set forth in Section 4.07. 
 (c) On each Distribution Date, an amount equal to the Collateral Available Funds with
respect to such Distribution Date will be distributed or deposited in the following priority: 
 (i) if TRS
or an Affiliate of TRS is no longer the Servicer, an amount equal to the Collateral Servicing Fee for such Distribution Date, plus the amount of any Collateral Servicing Fee previously due but not distributed to the Servicer on a prior
Distribution Date, shall be distributed to the Servicer; and 
 (ii) the balance, if any, shall constitute
Excess Spread and shall be allocated and distributed or deposited as set forth in Section 4.07. 
 (d) On each
Distribution Date with respect to the Revolving Period, an amount equal to the Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be treated as Shared Principal Collections and applied in
accordance with Section 4.04 of the Agreement. 
 (e) On each Distribution Date with respect to the Controlled
Accumulation Period, an amount equal to the Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be distributed in the following order of priority: 

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

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

(iii) the balance of such Available Principal Collections shall be treated as Shared Principal Collections and
applied in accordance with Section 4.04 of the Agreement. 
 (f) On each Distribution Date with respect to the Early
Amortization Period, an amount equal to Available Principal Collections deposited in the Collection Account for the related Monthly Period shall be distributed or deposited in the following order of priority: 

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

  
 24 

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

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

Section 4.06. Defaulted Amounts; Investor Charge-Offs. 

(a) On each Determination Date, the Servicer shall calculate the Class A Investor Default Amount, if any, for the related
Distribution Date. If, on any Distribution Date, the Class A Required Amount for the related Monthly Period exceeds the sum of (x) the amount of Reallocated Principal Collections allocated to Series
201[  ]-[    ] with respect to such Monthly Period and (y) the amount of Excess Spread and the Excess Finance Charge Collections allocable to Series 201[  ]-[    ] with respect to such
Monthly Period, the Collateral Invested Amount, if any, will be reduced by the amount of such excess, but not by more than the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the
Collateral Invested Amount to be a negative number, the Collateral Invested Amount will be reduced to zero and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but
not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date. In the event that such
reduction would cause the Class B Invested Amount to be a negative number, the Class B Invested Amount shall be reduced to zero, and the Class A Invested Amount shall be reduced by the amount by which the Class B Invested Amount would have been
reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the aggregate amount of the reductions, if any, of the Collateral Invested Amount and the Class B Invested
Amount for such Distribution Date (a “Class A Investor Charge-Off”). Class A Investor Charge-Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of
the aggregate unreimbursed Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose pursuant to subsection 4.07(b). References to
“negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below zero. 

(b) On each Determination Date, the Servicer shall calculate the Class B Investor Default Amount, if any, for the related
Distribution Date. If, on any Distribution Date, the Class B Required Amount for such Distribution Date exceeds the sum of (x) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series
201[  ]-[    ] with respect to the related Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(d) and (y) the Reallocated Principal Collections allocable to the
Collateral Interest and not required to pay the Class A Required Amount with respect to such Distribution Date, then the Collateral Invested Amount shall be reduced by the amount of such excess. In the event that such reduction would cause the
Collateral Invested Amount to be a negative number, the Collateral Invested Amount shall be reduced to zero, and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero,
but not by more than the excess, if any, of the Class B Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date (a
“Class B Investor Charge-Off”). Class B Investor Charge-Offs shall thereafter be reimbursed and the Class B Invested Amount increased (but not by an amount in excess of the aggregate unreimbursed Class B Investor
Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for 

  
 25 

 
that purpose pursuant to subsection 4.07(e). References to “negative numbers” above shall be determined without regard to the requirement that the Invested Amount of a Class not be
reduced below zero. 
 (c) On each Determination Date, the Servicer shall calculate the Collateral Default Amount. If on any
Distribution Date the Collateral Default Amount for the previous Monthly Period exceeds the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 201[  ]-[    ] with respect to the related
Monthly Period which are allocated and available to pay such amount pursuant to subsection 4.07(h), the Collateral Invested Amount will be reduced by the amount of such excess but not by more than the lesser of the Collateral Default Amount and the
Collateral Invested Amount for such Distribution Date (a “Collateral Charge-Off”). The Collateral Invested Amount will be reimbursed after any reduction pursuant to this Section 4.06 on
any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available on such Distribution date for that purpose as described under subsection 4.07(i). 

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

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

(b) an amount equal to the aggregate amount of Class A Investor Charge-Offs which have not been previously reimbursed
shall be treated as a portion of Available Principal Collections for such Distribution Date; 
 (c) an amount equal to
interest on the aggregate outstanding principal balance of the Class B Certificates not otherwise distributed to the Class B Certificateholders pursuant to Section 4.05(b)(i), at a rate per annum equal to the Class B
Certificate Rate, shall be distributed to the Class B Certificateholders, except that interest previously due but not paid will accrue interest at a rate per annum equal to the Class B Certificate Rate plus 2% per annum;

 (d) an amount equal to the Class B Required Amount, if any, with respect to such Distribution Date will be (i) used
to fund the Class B Required Amount and be applied in accordance with subsections 4.05(b)(i) and 4.05(b)(ii), and then (ii) an amount up to the Class B Investor Default Amount will be treated and applied as Available Principal
Collections for such Distribution Date; 
 (e) an amount equal to the aggregate amount by which the Class B Invested Amount
has been reduced pursuant to clauses (c), (d) and (e) of the definition of “Class B Invested Amount” in Section 2.01 of this Supplement (but not in excess of the aggregate amount of such reductions which have not been previously
reimbursed) shall be treated as a portion of Available Principal Collections for such Distribution Date; 
 (f) an amount
equal to Collateral Senior Minimum Monthly Interest for such Distribution Date, plus the amount of any Collateral Senior Minimum Monthly Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution
Date, plus the amount of any Collateral Senior Additional Interest for such Distribution Date and any Collateral Senior Additional Interest previously due but not distributed to the Collateral Interest Holder on a prior Distribution Date,
shall be distributed to the Collateral Interest Holder; 

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

(h) an amount equal to the Collateral Default Amount, if any, for such Distribution Date shall be treated as a portion of
Available Principal Collections for such Distribution Date; 
 (i) an amount equal to the aggregate amount by which the
Collateral Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition of “Collateral Invested Amount” (but not in excess of the aggregate amount of such reductions which have not been previously reimbursed)
shall be treated as a portion of Available Principal Collections for such Distribution Date; 
 (j) on each Distribution
Date from and after the Reserve Account Funding Date, but prior to the date on which the Reserve Account terminates pursuant to subsection 4.12(f), an amount up to the excess, if any, of the Required Reserve Account Amount over the Available Reserve
Account Amount shall be deposited into the Reserve Account; and 
 (k) the balance, if any, will be distributed to the
Collateral Interest Holder. 
 Section 4.08. Reallocated Principal Collections. On each Distribution
Date, the Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, Reallocated Principal Collections with respect to such Distribution Date, to make the following
distributions or deposits in the following order of priority 
 (a) an amount equal to the excess, if any, of (i) the
Class A Required Amount, if any, with respect to such Distribution Date over (ii) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 201[  ]-[    ] with respect to the
related Monthly Period shall be distributed by the Trustee to fund any deficiency pursuant to and in the priority set forth in subsections 4.05(a)(i), (ii) and (iii); 

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

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

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

On each Distribution Date, the Collateral Invested Amount shall be reduced by the amount of Reallocated Principal Collections
for such Distribution Date; provided, however, that the Collateral Invested Amount shall not be reduced below the Collateral Senior Invested Amount in connection with the application of Reallocated Principal Collections pursuant to
subsection 4.08(c). In 

  
 27 

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

Section 4.09. Excess Finance Charge Collections. Series
201[  ]-[    ] shall be an Excess Allocation Series. Subject to Section 4.05 of the Agreement, Excess Finance Charge Collections with respect to the Excess Allocation Series for any Distribution Date will be
allocated to Series 201[  ]-[    ] in an amount equal to the product of (x) the aggregate amount of Excess Finance Charge Collections with respect to all the Excess Allocation Series for such Distribution Date
and (y) a fraction, the numerator of which is the Finance Charge Shortfall for Series 201[  ]-[    ] for such Distribution Date and the denominator of which is the aggregate amount of Finance Charge Shortfalls for
all the Excess Allocation Series for such Distribution Date. The “Finance Charge Shortfall” for Series 201[  ]-[    ] for any Distribution Date will be equal
to the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to subsections 4.05(a), 4.05(b) and 4.05(c) and subsections 4.07(a) through (j) on such Distribution Date and the full amount required to be
paid, without duplication, pursuant to subsections 3.02(a)(iii) and 3.02(a)(iv) of the Transfer Agreement on the related Payment Date (as such term is defined in the Transfer Agreement) over (b) the sum of (i) the Reallocated Investor
Finance Charge Collections, (ii) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period or Early Amortization Period, the amount of Principal Funding Account Investment Proceeds, if any, with
respect to such Distribution Date and (iii) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such
Distribution Date. The amount of Excess Finance Charge Collections for Series 201[  ]-[    ] for any Distribution Date shall be specified in subsection 3.02(a)(v) of the Transfer Agreement. On each Distribution Date,
the Trustee shall deposit into the Collection Account for application in accordance with Section 4.05 of the Agreement the aggregate amount of Excess Finance Charge Collections received by the Trustee pursuant to the Transfer Agreement on such
date. 
 Section 4.10. Reallocated Investor Finance Charge Collections. 

(a) That portion of Group [I/II] Investor Finance Charge Collections for any Distribution Date equal to the amount of
Reallocated Investor Finance Charge Collections for such Distribution Date will be allocated to Series 201[  ]-[    ] and will be distributed as set forth in this Supplement. 

(b) Reallocated Investor Finance Charge Collections with respect to any Distribution Date shall equal the sum of (i) the
aggregate amount of Series 201[  ]-[    ] Monthly Interest, Investor Default Amount, Series 201[  ]-[    ] Monthly Fees and Series 201[  ]-[    ]
Additional Amounts for such Distribution Date and (ii) that portion of excess Group [I/II] Investor Finance Charge Collections to be included in Reallocated Investor Finance Charge Collections pursuant to subsection (c) hereof;
provided, however, that if the amount of Group [I/II] Investor Finance Charge Collections for such Distribution Date is less than the sum of (w) Group [I/II] Investor Monthly Interest, (x) Group [I/II] Investor Default Amount,
(y) Group [I/II] Investor Monthly Fees and (z) Group [I/II] Investor Additional Amounts, then 

  
 28 

 
Reallocated Investor Finance Charge Collections shall equal the sum of the following amounts for such Distribution Date: 

(A) The product of (I) Group [I/II] Investor Finance Charge Collections (up to the amount of Group [I/II]
Investor Monthly Interest) and (II) a fraction, the numerator of which is Series 201[  ]-[    ] Monthly Interest and the denominator of which is Group [I/II] Investor Monthly Interest; 

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

(C) the product of (I) Group [I/II] Investor Finance Charge Collections less the amount of Group [I/II]
Investor Monthly Interest and the Group [I/II] Investor Default Amount (up to Group [I/II] Investor Monthly Fees) and (II) a fraction, the numerator of which is Series 201[  ]-[    ] Monthly Fees and the denominator of
which is Group [I/II] Investor Monthly Fees; and 
 (D) the product of (I) Group [I/II] Investor Finance
Charge Collections less the sum of (i) Group [I/II] Investor Monthly Interest, (ii) the Group [I/II] Investor Default Amount and (iii) Group [I/II] Investor Monthly Fees and (II) a fraction, the numerator of which is Series
201[  ]-[    ] Additional Amounts and the denominator of which is Group [I/II] Investor Additional Amounts. 

(c) If the amount of Group [I/II] Investor Finance Charge Collections for such Distribution Date exceeds the sum of
(i) Group [I/II] Investor Monthly Interest, (ii) Group [I/II] Investor Default Amount, (iii) Group [I/II] Investor Monthly Fees and (iv) Group [I/II] Investor Additional Amounts, then Reallocated Investor Finance Charge
Collections for such Distribution Date shall include an amount equal to the product of (x) the amount of such excess and (y) a fraction, the numerator of which is the Invested Amount as of the last day of the second preceding Monthly
Period (or, for Series 201[  ]-[    ] only, with respect to the first Distribution Date, as of the Closing Date) and the denominator of which is the sum of such Invested Amount and the aggregate invested amounts for all
other Series included in Group [I/II] as of such last day (or, for Series 201[  ]-[    ] only, with respect to the first Distribution Date, as of the Closing Date). 

Section 4.11. Shared Principal Collections. Subject to Section 4.04 of the Agreement, Shared
Principal Collections for any Distribution Date will be allocated to Series 201[  ]-[    ] in an amount equal to the product of (x) the aggregate amount of Shared Principal Collections with respect to all Principal
Sharing Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 201[  ]-[    ] Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount
of Principal Shortfalls for all the Series which are Principal Sharing Series for such Distribution Date. The “Series 201[  ]-[    ] Principal Shortfall” will be equal to (a) for any
Distribution Date with respect to the Revolving Period, zero, (b) for any Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount with respect to such Distribution Date over the
amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections), and (c) for any Distribution Date with respect to the Early Amortization Period, the excess, if
any, of the Invested Amount over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections). 

  
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 Section 4.12. Reserve Account. 

(a) The Servicer shall establish and maintain, in the name of the Trustee, on behalf of the Trust, for the benefit of the Series 201[  ]-[    ] Certificateholders, an Eligible Deposit Account (the “Reserve Account”) bearing a designation clearly indicating that the funds deposited
therein and the property credited thereto are held for the benefit of the Series 201[  ]-[    ] Certificateholders. The Reserve Account shall initially be established with The Bank of New York Mellon. The Trustee shall
possess all right, title and interest in all funds and property from time to time deposited in or credited to the Reserve Account and in all proceeds thereof. The Reserve Account shall be under the sole dominion and control of the Trustee for the
benefit of the Series 201[  ]-[    ] Certificateholders. If at any time the Reserve Account ceases to be an Eligible Deposit Account, the Trustee (or the Servicer on its behalf) shall within 10 Business Days (or
such longer period, not to exceed 30 calendar days, as to which each Rating Agency shall consent) establish a new Reserve Account meeting the conditions specified above as an Eligible Deposit Account, and shall transfer any cash or any investments
to such new Reserve Account. The Trustee, at the direction of the Servicer, shall (i) make withdrawals from the Reserve Account from time to time in an amount up to the Available Reserve Account Amount at such time, for the purposes set forth
in this Supplement, and (ii) on each Distribution Date (from and after the Reserve Account Funding Date) prior to the termination of the Reserve Account make a deposit into the Reserve Account in the amount specified in, and otherwise in
accordance with, subsection 4.07(j). 
 (b) Funds on deposit in the Reserve Account shall be invested at the written
direction of the Servicer by the Trustee in Eligible Investments; provided, however, that if no such written direction is provided, funds on deposit in the Reserve Account shall remain uninvested. Subject to the immediately preceding
sentence, funds on deposit in the Reserve Account on any Transfer Date, after giving effect to any withdrawals from the Reserve Account on such Transfer Date, shall be invested in such investments that will mature so that such funds will be
available for withdrawal on or prior to the following Transfer Date. No such Eligible Investment shall be disposed of prior to its maturity; provided, however, that the Trustee shall sell, liquidate or dispose of any such Eligible Investment
if, prior to the maturity of such Eligible Investment, a default occurs in the payment of principal, interest or any other amount with respect to such Eligible Investment; provided further, however, that the Servicer shall deliver prompt
written notice to the Trustee of any such default; and provided further that, subject to Section 11.01 of the Agreement, the Trustee will not in any way be held liable by reason of any insufficiency in such Reserve Account resulting from
any loss on any Eligible Investment included therein except for losses attributable to the Trustee’s failure to make payments on such Eligible Investments issued by the Trustee, in its commercial capacity, in accordance with their terms. On
each Distribution Date, all interest and earnings (net of losses and investment expenses) accrued since the preceding Distribution Date on funds on deposit in the Reserve Account shall be retained in the Reserve Account (to the extent that the
Available Reserve Account Amount is less than the Required Reserve Account Amount) and the balance, if any, shall be deposited in the Collection Account and treated as collections of Finance Charge Receivables allocable to Series
201[  ]-[    ]. For purposes of determining the availability of funds or the balance in the Reserve Account for any reason under this Supplement, except as otherwise provided in the preceding sentence, investment
earnings on such funds shall be deemed not to be available or on deposit. 
 (c) On the Determination Date preceding each
Distribution Date with respect to the Controlled Accumulation Period and the first Special Payment Date, the Servicer shall calculate the “Reserve Draw Amount” which shall be equal to the excess, if any, of the Covered
Amount with respect to such Distribution Date or Special Payment Date over the Principal Funding Account Investment Proceeds with respect to such Distribution Date or Special Payment Date; provided, that such amount will be reduced to the
extent that funds otherwise would be available for deposit in the Reserve Account under subsection 4.07(j) with respect to such Distribution Date or Special Payment Date. 

(d) In the event that for any Distribution Date the Reserve Draw Amount is greater than zero, the Reserve Draw Amount, up to
the Available Reserve Account Amount, shall be withdrawn 

  
 30 

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

(f) Upon the earliest to occur of (i) the day on which the Invested Amount is paid in full to the Series
201[  ]-[    ] Certificateholders, (ii) if the Controlled Accumulation Period has not commenced, the occurrence of a Pay-Out Event with respect to Series 201[  ]-[    ], (iii) if
the Controlled Accumulation Period has commenced, the earlier of the first Special Payment Date and the Expected Final Payment Date and (iv) the termination of the Trust pursuant to the Agreement, the Trustee, acting in accordance with the
instructions of the Servicer, after the prior payment of all amounts owing to the Class A Certificateholders which are payable from the Reserve Account as provided herein, shall withdraw from the Reserve Account and pay to the Collateral
Interest Holder all amounts, if any, on deposit in the Reserve Account and the Reserve Account shall be deemed to have terminated for purposes of this Supplement. 

Section 4.13. Investment Instructions. 

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

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

  
 31 

 Section 4.14. [Reserved][Determination of LIBOR]. 

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

(b) The Servicer shall determine, and promptly notify the Transferors and the Trustee of, the Class A Certificate Rate
and the Class B Certificate Rate for the applicable Interest Accrual Period. The Class A Certificate Rate and Class B Certificate Rate applicable to the then current and the immediately preceding Interest Accrual Periods may be obtained by any
Investor Certificateholder by telephoning the Trustee at its Corporate Trust Office at (212) 815-6258. 
 (c) On each
LIBOR Determination Date prior to 3:00 p.m., New York City time, the Trustee shall send to the Transferors and the Servicer by facsimile, notification of LIBOR for the following Interest Accrual Period.] 

ARTICLE V 

Distributions and Reports to 

Series 201[  ]-[    ] Certificateholders 

Section 5.01. Distributions. 

(a) On each Distribution Date, the Paying Agent shall distribute to each Class A Certificateholder of record on the
related Record Date (other than as provided in Section 12.02 of the Agreement) such Class A Certificateholder’s pro rata share of the amounts held by the Paying Agent that are allocated and available on such Distribution Date
to pay interest on the Class A Certificates pursuant to this Supplement. 
 (b) On each Special Payment Date and on the
Expected Final Payment Date, the Paying Agent shall distribute (in accordance with the Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class A Certificateholder of record on the related Record
Date (other than as provided in Section 12.02 of the Agreement) such Class A Certificateholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated
and available on such date to pay principal of the Class A Certificates pursuant to this Supplement up to a maximum amount on any such date equal to the Class A Invested Amount on such date (unless there has been an optional repurchase of
the Series 201[  ]-[    ] Certificateholders’ Interest pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply). 

  
 32 

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

(d) On each Special Payment Date, and on the Expected Final Payment Date, the Paying Agent shall distribute (in accordance
with the Certificate delivered by the Servicer pursuant to Section 3.04(b) of the Agreement) to each Class B Certificateholder of record on the related Record Date (other than as provided in Section 12.02 of the Agreement) such Class B
Certificateholder’s pro rata share of the amounts on deposit in the Principal Funding Account or otherwise held by the Paying Agent that are allocated and available on such date to pay principal of the Class B Certificates pursuant to
this Supplement up to a maximum amount on any such date equal to the Class B Invested Amount on such date (unless there has been an optional repurchase of the Series 201[  ]-[    ] Certificateholders’ Interest
pursuant to Section 10.01 of the Agreement, in which event the foregoing limitation will not apply). 
 (e) On each
Distribution Date, the Trustee shall distribute to the Collateral Interest Holder the aggregate amount payable to the Collateral Interest Holder pursuant to Sections 4.05, 4.07, 4.12, 8.01 and 8.02 to the Collateral Interest Holder’s account,
as specified in writing by the Collateral Interest Holder, in immediately available funds. 
 (f) The distributions to be
made pursuant to this Section 5.01 are subject to the provisions of Sections 2.06, 9.02, 10.01 and 12.02 of the Agreement and Sections 8.01 and 8.02 of this Supplement. 

(g) Except as provided in Section 12.02 of the Agreement with respect to a final distribution, distributions to Series
201[  ]-[    ] Certificateholders hereunder shall be made by check mailed to each Series 201[  ]-[    ] Certificateholder at such Series 201[  ]-[    ]
Certificateholder’s address appearing in the Certificate Register without presentation or surrender of any Series 201[  ]-[    ] Certificate or the making of any notation thereon; provided, however, that
with respect to Series 201[  ]-[    ] Certificates registered in the name of a Clearing Agency, such distributions shall be made to such Clearing Agency in immediately available funds. 

(h) The distributions to be made pursuant to this Section 5.01 are to be made pursuant to the written instructions of the
Servicer substantially in the form of Exhibit B. 
 Section 5.02.
Reports and Statements to Series 201[  ]-[    ] Certificateholders. 

(a) On each Distribution Date, the Paying Agent, on behalf of the Trustee, shall make available, and shall forward to each
Series 201[  ]-[    ] Certificateholder upon request, a statement substantially in the form of Exhibit C-1 to this Supplement prepared by the Servicer and delivered to the Paying Agent. 

(b) Not later than each Determination Date, the Servicer shall deliver to the Trustee, the Paying Agent, the Transferors, each
Rating Agency and the Collateral Interest Holder (i) a statement substantially in the form of Exhibit C-1 to this Supplement prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit
D. 
 (c) A copy of each statement or certificate provided pursuant to paragraph (a) or (b) may be obtained by
any Series 201[  ]-[    ] Certificateholder or any Certificate Owner thereof by a request in writing to the Servicer. 

  
 33 

 (d) On or before January 31 of each calendar year, beginning with calendar
year 201[  ], the Paying Agent, on behalf of the Trustee, shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a
Series 201[  ]-[    ] Certificateholder, a statement substantially in the form of Exhibit C-2 to this Supplement to the extent prepared by the Servicer and
delivered to the Paying Agent for such calendar year or the applicable portion thereof during which such Person was a Series 201[  ]-[    ] Certificateholder, together with such information as is required to be
provided by a paying agent under the Code (including Forms 1099 and other customary tax reporting information) and, to the extent prepared by the Servicer and delivered to the Paying Agent, such other information as is required to be provided by an
issuer of indebtedness under the Code. The obligations of the Servicer and Paying Agent to prepare and deliver the statement substantially in the form of Exhibit C-2 to this Supplement shall be deemed to have been satisfied to the extent
that substantially comparable information shall be provided by the Paying Agent pursuant to any requirements of the Code as from time to time in effect. 

ARTICLE VI 

Pay-Out Events 

Section 6.01. Pay-Out Events. If any one of the following events shall occur with respect to the Series
201[  ]-[    ] Certificates: 
 (a) the occurrence of an Insolvency Event relating to any
Transferor or other holder of the Original Transferor Certificate; 
 (b) the Trust becomes an investment company within the
meaning of the Investment Company Act; 
 (c) failure on the part of any Transferor (i) to make any payment or deposit
required by the terms of the Agreement or this Supplement on or before the date occurring five Business Days after the date such payment or deposit is required to be made therein or herein or (ii) duly to observe or perform any other covenants
or agreements of the Transferors set forth in the Agreement or this Supplement, which failure has a material adverse effect on the Series 201[  ]-[    ] Certificateholders and which continues unremedied for a period of
60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to such Transferor by the Trustee, or to the Transferors and the Trustee by any Holder of the Series
201[  ]-[    ] Certificates; 
 (d) any representation or warranty made by any Transferor in
the Agreement or this Supplement, or any information contained in a computer file or microfiche list required to be delivered by any Transferor pursuant to Section 2.01 or subsection 2.08(f) of the Agreement shall prove to have been incorrect
in any material respect when made or when delivered, which continues to be incorrect in any material respect for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to
such Transferor by the Trustee, or to such Transferor and the Trustee by any Holder of the Series 201[  ]-[    ] Certificates and as a result of which the interests of the Series
201[  ]-[    ] Certificateholders are materially and adversely affected for such period; provided, however, that a Pay-Out Event pursuant to this subsection 6.01(d) shall not be deemed to have occurred hereunder
if a Transferor has accepted reassignment of the related Receivable, or all of such Receivables, if applicable, during such period (or such longer period not to exceed an additional 60 days as the Trustee may specify) in accordance with the
provisions of the Agreement; 
 (e) a failure by a Transferor to convey Receivables in Additional Accounts or Participation
Interests to the Trust within five Business Days after the day on which it is required to convey such Receivables or Participation Interests pursuant to subsection 2.09(a) of the Agreement; 

  
 34 

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

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

Optional Repurchase; Series Termination 

Section 7.01. Optional Repurchase. 

(a) So long as a Transferor is the Servicer or an Affiliate of the Servicer, on any day occurring on or after the date on
which the Invested Amount is reduced to 5% or less of the Initial Invested Amount, such Transferor shall have the option to purchase the Series 201[  ]-[    ] Certificateholders’ Interest, at a purchase price
equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. If, on the date on
which a Transferor exercises such option, the long-term unsecured debt obligations of such Transferor purchasing the Series 201[  ]-[    ] Certificateholders’ Interest is not rated at least in the third highest
rating category by the Rating Agency, such Transferor shall deliver to the Trustee, with a copy to the Rating Agency, an Officer’s Certificate of such Transferor which shall have attached to it the relevant fraudulent conveyance

  
 35 

 
statute, if any, and set forth the factual basis for a conclusion that the exercise of such optional repurchase would not constitute a fraudulent conveyance of such Transferor. 

(b) The Transferors shall give the Servicer and the Trustee at least 30 days prior written notice of the date on which the
Transferors intend to exercise such purchase option. Not later than 12:00 noon, New York City time, on such day the Transferors shall deposit the Reassignment Amount into the Collection Account in immediately available funds. Such purchase option is
subject to payment in full of the Reassignment Amount. Following the deposit of the Reassignment Amount into the Collection Amount in accordance with the foregoing, the Invested Amount for Series 201[  ]-[    ]
shall be reduced to zero and the Series 201[  ]-[    ] Certificateholders shall have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in subsection 8.01(b). 

Section 7.02. Series Termination. 

(a) If, on the [            ] 201[  ] Distribution Date,
the Invested Amount (after giving effect to all changes therein on such date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40-day period which begins on such Distribution Date, solicit bids for the sale of
Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the
Series 201[  ]-[    ] Termination Date (after giving effect to all distributions required to be made on the Series 201[  ]-[    ] Termination Date, except pursuant to this
Section 7.02). Such bids shall require that such sale shall (subject to subsection 7.02(b)) occur on the Series 201[  ]-[    ] Termination Date. No Transferor, any
Affiliate thereof, any agent thereof or any other party consolidated with such Transferor for purposes of United States generally accepted accounting principles shall be entitled to participate in such bidding process or to purchase the Receivables;
provided, however, that, to the extent the Collateral Interest Holder is not a Transferor, an Affiliate thereof, an agent thereof or any other party consolidated with a Transferor for purposes of United States generally accepted
accounting principles, the Collateral Interest Holder may participate in such bidding process. 
 (b) The Servicer, on
behalf of the Trustee, shall sell such Receivables (or interests therein) on the Series 201[  ]-[    ] Termination Date to the bidder who made the highest cash purchase offer. The proceeds of any such sale shall be
treated as Collections on the Receivables allocated to the Series 201[  ]-[    ] Certificateholders pursuant to the Agreement and this Supplement; provided, however, that the Servicer shall determine conclusively
the amount of such proceeds which are allocable to Finance Charge Receivables and the amount of such proceeds which are allocable to Principal Receivables. During the period from the
[            ] 201[  ] Distribution Date to the Series 201[  ]-[    ] Termination Date, the Servicer shall continue to collect payments on the
Receivables and allocate and deposit such Collections in accordance with the provisions of the Agreement and the Supplements. 
 ARTICLE VIII

 Final Distributions 

Section 8.01. Sale of Receivables or Certificateholders’ Interest pursuant to Section 2.06 or 10.01 of the
Agreement and Section 7.01 or 7.02 of this Supplement. 
 (a) (i) The amount
to be paid by the Transferors with respect to Series 201[  ]-[    ] in connection with a reassignment of Receivables to the Transferors pursuant to Section 2.06 of the Agreement shall equal the Reassignment Amount
for the first Distribution Date following the Monthly Period in which the reassignment obligation arises under the Agreement. 

  
 36 

 (ii) The amount to be paid by the Transferors with respect to
Series 201[  ]-[    ] in connection with a repurchase of the Certificateholders’ Interest pursuant to Section 10.01 of the Agreement shall equal the sum of (x) the Reassignment Amount for the Distribution
Date of such repurchase and (y) the sum of (A) the excess, if any, of (I) a price equivalent to the average of bids quoted on the Record Date preceding the date of repurchase or, if not a Business Day, on the next succeeding Business
Day by at least two recognized dealers selected by the Trustee for the purchase by such dealers of a security which is similar to the Class A Certificates with a remaining maturity approximately equal to the remaining maturity of the
Class A Certificates and rated by each Rating Agency in the rating category originally assigned to the Class A Certificates over (II) the portion of the Reassignment Amount attributable to the Class A Certificates and (B) the
excess, if any, of (I) a price equivalent to the average of bids quoted on such Record Date, or if not a Business Day, on the next succeeding Business Day by at least two recognized dealers selected by the Trustee for the purchase by such
dealers of a security which is similar to the Class B Certificates with a remaining maturity approximately equal to the remaining maturity of the Class B Certificates and rated by each Rating Agency in the rating category originally assigned to the
Class B Certificates over (II) the portion of the Reassignment Amount attributable to the Class B Certificates. 
 (b) With
respect to the Reassignment Amount deposited into the Collection Account pursuant to Section 7.01 or any amounts allocable to the Series 201[  ]-[    ] Certificateholders’ Interest deposited into the
Collection Account pursuant to Section 7.02, the Trustee shall, in accordance with the written direction of the Servicer, not later than 12:00 noon, New York City time, on the related Distribution Date, make deposits or distributions of the
following amounts (in the priority set forth below and, in each case after giving effect to any deposits and distributions otherwise to be made on such date) in immediately available funds: (i) (x) the Class A Invested Amount on such
Distribution Date will be distributed to the Paying Agent for payment to the Class A Certificateholders and (y) an amount equal to the sum of (A) Class A Monthly Interest for such Distribution Date, (B) any Class A
Monthly Interest previously due but not distributed to the Class A Certificateholders on a prior Distribution Date and (C) the amount of Class A Additional Interest, if any, for such Distribution Date and any Class A Additional
Interest previously due but not distributed to the Class A Certificateholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class A Certificateholders, (ii) (x) the Class B
Invested Amount on such Distribution Date will be distributed to the Paying Agent for payment to the Class B Certificateholders and (y) an amount equal to the sum of (A) Class B Monthly Interest for such Distribution Date,
(B) any Class B Monthly Interest previously due but not distributed to the Class B Certificateholders on a prior Distribution Date and (C) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B
Additional Interest previously due but not distributed to the Class B Certificateholders on any prior Distribution Date, will be distributed to the Paying Agent for payment to the Class B Certificateholders and (iii) the balance, if any, will
be distributed to the Collateral Interest Holder. 
 (c) Notwithstanding anything to the contrary in this Supplement or the
Agreement, all amounts distributed to the Paying Agent pursuant to subsection 8.01(b) for payment to the Series 201[  ]-[    ] Certificateholders shall be deemed distributed in full to the
Series 201[  ]-[    ] Certificateholders on the date on which such funds are distributed to the Paying Agent pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 12.02 of
the Agreement. 
 Section 8.02. Distribution of Proceeds of Sale, Disposition or Liquidation of the Receivables
pursuant to Section 9.01 of the Agreement. 
 (a) Not later than 12:00 noon, New York City time, on the
Distribution Date following the date on which the Insolvency Proceeds are deposited into the Collection Account pursuant to subsection 9.01(b) of the Agreement, the Trustee shall in accordance with the written direction of the

  
 37 

 
Servicer (in the following priority and, in each case, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date) (i) deduct an amount equal to the
Class A Invested Amount on such Distribution Date from the portion of the Insolvency Proceeds allocated to Series 201[  ]-[    ] Allocable Principal Collections and distribute such amount to the Paying Agent for
payment to the Class A Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency Proceeds allocated to Series 201[  ]-[    ] Allocable
Principal Collections and (y) the Principal Allocation Percentage with respect to the related Monthly Period, (ii) deduct an amount equal to the Class B Invested Amount on such Distribution Date from the portion of the Insolvency Proceeds
allocated to Series 201[  ]-[    ] Allocable Principal Collections and distribute such amount to the Paying Agent for payment to the Class B Certificateholders, provided that the amount of such distribution shall not
exceed (x) the product of (A) the portion of such Insolvency Proceeds allocated to Series 201[  ]-[    ] Allocable Principal Collections and (B) the Principal Allocation Percentage with respect to the
related Monthly Period minus (y) the amount distributed to the Paying Agent pursuant to clause (i) of this sentence and (iii) distribute the remaining amount of the Insolvency Proceeds to the Collateral Interest Holder. 

(b) Not later than 12:00 noon, New York City time, on such Distribution Date, the Trustee shall in accordance with the written
direction of the Servicer (in the following priority and, in each case, after giving effect to any deposits and distributions otherwise to be made on such Distribution Date) (i) deduct an amount equal to the sum of (w) Class A Monthly
Interest for such Distribution Date, (x) any Class A Monthly Interest previously due but not distributed to the Class A Certificateholders on a prior Distribution Date and (y) the amount of Class A Additional Interest, if
any, for such Distribution Date and any Class A Additional Interest previously due but not distributed to the Class A Certificateholders on a prior Distribution Date from the portion of the Insolvency Proceeds allocated to Collections of
Finance Charge Receivables and distribute such amount to the Paying Agent for payment to the Class A Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency
Proceeds allocated to Series 201[  ]-[    ] Allocable Finance Charge Collections, (y) the Floating Allocation Percentage with respect to the related Monthly Period and (z) the Class A Floating Percentage
with respect to such Monthly Period and (ii) deduct an amount equal to the sum of (w) Class B Monthly Interest for such Distribution Date, (x) Class B Monthly Interest previously due but not distributed to the Class B
Certificateholders on a prior Distribution Date and (y) the amount of Class B Additional Interest, if any, for such Distribution Date and any Class B Additional Interest previously due but not distributed to the Class B Certificateholders on a
prior Distribution Date from the portion of the Insolvency Proceeds allocated to Series 201[  ]-[    ] Allocable Finance Charge Collections and distribute such amount to the Paying Agent for payment to the Class B
Certificateholders, provided that the amount of such distribution shall not exceed the product of (x) the portion of the Insolvency Proceeds allocated to Series 201[  ]-[    ] Allocable Finance Charge Collections,
(y) the Floating Allocation Percentage with respect to the related Monthly Period and (z) the Class B Floating Percentage with respect to such Monthly Period. To the extent that the product of (A) the portion of the Insolvency
Proceeds allocated to Series 201[  ]-[    ] Allocable Finance Charge Collections and (B) the Floating Allocation Percentage with respect to the related Monthly Period exceeds the aggregate amount distributed to the
Paying Agent pursuant to the preceding sentence, the excess shall be distributed to the Collateral Interest Holder. 
 (c)
Notwithstanding anything to the contrary in this Supplement or the Agreement, all amounts distributed to the Paying Agent pursuant to this Section for payment to the Series 201[  ]-[    ] Certificateholders shall be
distributed in full to the Series 201[  ]-[    ] Certificateholders on the date on which funds are distributed to the Paying Agent pursuant to this Section and shall be deemed to be a final distribution pursuant to
Section 12.02 of the Agreement. 

  
 38 

 ARTICLE IX 

Miscellaneous Provisions 

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

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

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

Section 9.04. [Reserved]. 

Section 9.05. FATCA Matters. 

Each Certificate Owner and Series 201[  ]-[    ] Certificateholder, by the purchase of a
Certificate or its acceptance of a beneficial interest therein, acknowledges that interest on the Certificates will be treated as United States source interest, and, as such, United States withholding tax may apply. Each such Certificate Owner and
Series 201[  ]-[    ] Certificateholder further agrees, upon request, to provide any certifications that may be required under applicable law, regulations or procedures to evidence such status and understands that if it
ceases to satisfy the foregoing requirements or provide requested documentation, payments to it under the Certificates may be subject to United States withholding tax (without any corresponding gross-up). Without limiting the foregoing, if a payment
made under this Supplement would be subject to United States federal withholding tax imposed by FATCA if the recipient of such payment were to fail to comply with FATCA (including the requirements of Code Sections 1471(b) or 1472(b), as applicable),
such recipient shall deliver to the Transferors and the Trustee, at the time or times prescribed by the Code and at such time or times reasonably requested by the Transferors or the Trustee, such documentation prescribed by the Code (including as
prescribed by Code Section 1471(b)(3)(C)(i)) and such additional documentation reasonably requested by the Transferors or the Trustee to comply with their respective obligations under FATCA, to determine that such recipient has complied with
such recipient’s obligations under FATCA, or to determine the amount to deduct and withhold from such payment. For these purposes, “FATCA” means Section 1471 through 1474 of the Code and any regulations or official
interpretations thereof (including any revenue ruling, revenue procedure, notice or similar guidance issued by the U.S. Internal Revenue Service thereunder as a precondition to relief or exemption from taxes under such Sections, regulations and
interpretations), any agreements entered into pursuant to Code Section 1471(b)(1), and including any amendments made to FATCA after the date of this Supplement. 

Section 9.06. Uncertificated Securities. The Collateral Interest shall be delivered in uncertificated form. 

Section 9.07. Transfers of the Collateral Interest. 

(a) Unless otherwise consented to by the Transferors, no portion of the Collateral Interest or any interest therein may be
sold, conveyed, assigned, hypothecated, pledged, participated, exchanged or otherwise transferred (each, a “Transfer”) except in accordance with this Section 9.07 and only to a Permitted Assignee. Any attempted or purported
transfer, assignment, exchange, conveyance, 

  
 39 

 
pledge, hypothecation or grant other than to a Permitted Assignee shall be void. Unless otherwise consented to by the Transferors, no portion of the Collateral Interest or any interest therein
may be Transferred to any Person (each such Person acquiring the Collateral Interest or any interest therein, an “Assignee”) unless such Assignee shall have executed and delivered to the Transferors on or before the effective date
of any Transfer a letter substantially in the form attached hereto as Exhibit E (an “Investment Letter”), executed by such Assignee, with respect to the related Transfer to such Assignee of all or a portion of the Collateral
Interest. 
 (b) Each Assignee will certify that the Collateral Interest or the interest therein purchased by such Assignee
will be acquired for investment only and not with a view to any public distribution thereof, and that such Assignee will not offer to sell or otherwise dispose of the Collateral Interest or any interest therein so acquired by it in violation of any
of the registration requirements of the Securities Act, or any applicable state or other securities laws. Each Assignee will acknowledge and agree that (i) it has no right to require the Transferors to register under the Securities Act or any
other securities law the Collateral Interest or the interest therein to be acquired by the Assignee and (ii) the sale of the Collateral Interest is not being made by means of the prospectus prepared in connection with the sale of the Series
201[  ]-[    ] Certificates. Each Assignee will agree with the Transferors that: (a) such Assignee will deliver to the Transferors an Investment Letter and (b) all of the statements made by such Assignee in
its Investment Letter shall be true and correct as of the date made. 
 (c) No portion of the Collateral Interest or any
interest therein may be Transferred to, and each Assignee will certify that it is not, (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA and subject to Title I of ERISA), (b) any “plan” (as
defined in and subject to Section 4975 of the Code) including individual retirement accounts and Keogh plans, or (c) any other entity whose underlying assets include “plan assets” (within the meaning of U.S. Department of Labor
Regulation Section 2510.3-101, 29 C.F.R. § 2510.3-101, as modified by Section 3(42) of ERISA) by reason of a plan’s investment in the entity, including, without limitation, an insurance company general account. 

[The signature page follows this page.] 

  
 40 

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

			
	 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC,

as a Transferor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC,

as a Transferor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC.,

as the Servicer

		
	By:	 	  

		 	Name:
		 	Title:
	
	 THE BANK OF NEW YORK MELLON,

as Trustee

		
	By:	 	  

		 	Name:
		 	Title:

 [Signature page – Series 201[  ]-[    ] Supplement] 

					
		 	FORM OF CLASS A CERTIFICATE	 	EXHIBIT A-1

  

			
	 REGISTERED
	  	$        1/
		
	 No. R-            
	  	CUSIP No. [            ]

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

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 201[    ]-[    ] 

CLASS A [    %][FLOATING RATE] ASSET BACKED CERTIFICATE 

Expected Final Payment Date: 
 The
[            ] 201[    ] Distribution Date 
 Each $100,000
minimum denomination represents a 
 1/[            ]ths undivided interest 

in Class A of the 
 AMERICAN
EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 201[    ]-[    ] 
 Evidencing an undivided interest in
certain assets of a trust, the corpus of which consists primarily of an interest in receivables generated from time to time in the ordinary course of business in a portfolio of credit and charge accounts serviced by 

AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., 

and other assets and interests constituting Trust Assets under the Third Amended and Restated Pooling and Servicing Agreement referred to
below. 
 (Not an interest in or obligation of American Express Travel Related Services Company, Inc., American Express Centurion Bank,
American Express Bank, FSB, American Express Receivables Financing Corporation III LLC, American Express Receivables Financing Corporation IV LLC or any of their respective affiliates) 

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

 

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

 
as otherwise amended and supplemented, the “Agreement”), as supplemented by the Series 201[    ]-[    ] Supplement, dated as of
[            ] [    ], 201[    ] (as amended and supplemented, the “Supplement”), among American Express Receivables Financing
Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the “Transferors”), American Express Travel Related Services Company, Inc., as servicer, and The Bank of New York Mellon, a
New York banking corporation, as trustee (the “Trustee”). The corpus of the Trust consists of (i) the Transferors’ ownership interest in a portfolio of receivables (the “Receivables”) existing in credit
and charge accounts identified under the Agreement from time to time (the “Accounts”), (ii) all Receivables generated under the Accounts from time to time thereafter, (iii) funds collected or to be collected from
cardmembers in respect of the Receivables, (iv) all funds which are from time to time on deposit in the Collection Account, the Special Funding Account and any other Series Accounts and (v) all other assets and interests constituting the
Trust. The Holder of this Certificate is entitled to the benefits of the subordination of the Class B Certificates and the Collateral Interest to the extent provided in the Supplement. Although a summary of certain provisions of the Agreement and
the Supplement is set forth below and in the Summary of Terms and Conditions attached hereto and made a part hereof, this Class A Certificate does not purport to summarize the Agreement and the Supplement and reference is made to the Agreement
and the Supplement for information with respect to the interests, rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and obligations of the Trustee. A copy of the Agreement and the Supplement (without
schedules) may be requested from the Trustee by writing to the Trustee at the Corporate Trust Office. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to them in the Agreement or the Supplement, as
applicable. 
 This Class A Certificate is issued under and is subject to the terms, provisions and conditions of the
Agreement and the Supplement, to which Agreement and Supplement, each as amended and supplemented from time to time, the Class A Certificateholder by virtue of the acceptance hereof assents and is bound. 

It is the intent of the Transferors and the Class A Certificateholder that, for federal, state and local income and
franchise tax purposes, the Class A Certificates will qualify as indebtedness of the Transferors secured by the Receivables. The Class A Certificateholder, by the acceptance of this Class A Certificate, agrees to treat this
Class A Certificate for federal, state and local income and franchise tax purposes as debt of the Transferors. 
 In
general, payments of principal with respect to the Class A Certificates are limited to the Class A Invested Amount, which may be less than the unpaid principal balance of the Class A Certificates. The Expected Final Payment Date is
the [            ] 201[    ] Distribution Date, but principal with respect to the Class A Certificates may be paid earlier or later under certain circumstances
described in the Agreement and the Supplement. If for one or more months during the Controlled Accumulation Period there are not sufficient funds to pay the Controlled Deposit Amount, then to the extent that excess funds are not available on
subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of principal of the Class A Certificates will occur later than the Expected Final Payment Date. 

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

  
 A-1-2 

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

			
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Dated: [            ] [    ],
201[    ] 

  
 A-1-3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the American Express Credit Account Master Trust Series 201[    ]-[    ] Class A
Certificates described in the within-mentioned Agreement and Supplement. 
  

			
	 THE BANK OF NEW YORK MELLON,

	 as Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

		
		 	 or

		
	 By:
	 	  

		 	 as Authenticating Agent

		 	 for the Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

  
 A-1-4 

 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 201[    ]-[    ] 

CLASS A [    %][FLOATING RATE] ASSET BACKED CERTIFICATE 

Summary of Terms and Conditions 

The Receivables consist of Principal Receivables which arise generally from the purchase of goods and services and amounts
advanced to cardmembers as cash advances and Finance Charge Receivables. This Class A Certificate is one of a Series of Certificates entitled American Express Credit Account Master Trust, Series
201[    ]-[    ] (the “Series 201[    ]-[    ] Certificates”), and one of a class thereof entitled Class A Series
201[    ]-[    ] [    %][Floating Rate] Asset Backed Certificates (the “Class A Certificates”), each of which represents a fractional, undivided interest in certain assets
of the Trust. The assets of the Trust are allocated in part to the investor certificateholders of all outstanding Series (the “Certificateholders’ Interest”) with the remainder allocated to the Holders of the Transferor
Certificates. The aggregate interest represented by the Class A Certificates at any time in the Principal Receivables in the Trust shall not exceed an amount equal to the Class A Invested Amount at such time. The Class A Initial
Invested Amount is $[            ]. The Class A Invested Amount on any date will be an amount equal to (a) the Class A Initial Invested Amount, minus (b) the
aggregate amount of principal payments made to the Class A Certificateholder on or prior to such date, minus (c) the excess, if any, of the aggregate amount of Class A Investor Charge-Offs for all prior Distribution Dates over
Class A Investor Charge-Offs reimbursed pursuant to subsection 4.07(b) of the Supplement prior to such date. 
 Subject
to the terms and conditions of the Agreement, the Transferors may, from time to time, direct the Trustee, on behalf of the Trust, to issue one or more new Series of Investor Certificates, which will represent fractional, undivided interests in
certain of the Trust Assets. 
 On each Distribution Date, the Paying Agent shall distribute to each Class A
Certificateholder of record on the last day of the preceding calendar month (each a “Record Date”) such Class A Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection
Account and Principal Funding Account) as are payable to the Class A Certificateholder pursuant to the Agreement and the Supplement. Distributions with respect to this Class A Certificate will be made by the Paying Agent by check mailed to
the address of the Class A Certificateholder of record appearing in the Certificate Register without the presentation or surrender of this Class A Certificate or the making of any notation thereon (except for the final distribution in
respect of this Class A Certificate) except that with respect to Class A Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately
available funds. Final payment of this Class A Certificate will be made only upon presentation and surrender of this Class A Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the
Series 201[    ]-[    ] Certificateholders in accordance with the Agreement and the Supplement. 

On any day occurring on or after the day on which the Invested Amount is reduced to 5% or less of the Initial Invested Amount,
the Transferors have the option to repurchase the Series 201[    ]-[    ] Certificateholders’ Interest in the Trust. The repurchase price will be equal to (a) if such day is a Distribution Date, the
Reassignment Amount for such Distribution Date or (b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. Following the deposit of the Reassignment Amount in the Collection Account,
Series 201[    ]-[    ] Certificateholders will not have any interest in the Receivables and the Series 201[    ]-[    ] Certificates will represent only the right to
receive such Reassignment Amount. 

  
 A-1-5 

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

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

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

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

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

  
 A-1-6 

 ASSIGNMENT 

Social Security or other identifying number of assignee
                                        

 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 

			
	  

	(name and address of assignee)

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

									
	 Dated:
	 	  
	 		 	  
	 	 2/

					
		 		 		 	 Signature Guaranteed:
	 	
					
		 		 		 	  
	 	

  

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

  
 A-1-7 

					
		 	FORM OF CLASS B CERTIFICATE	 	EXHIBIT A-2

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

			
	 REGISTERED
	  	$        3/
		
	 No. R-            
	  	CUSIP No. [            ]

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

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 201[    ]-[    ] 

CLASS B [    %][FLOATING RATE] ASSET BACKED CERTIFICATE 

Expected Final Payment Date: 
 The
[            ] 201[    ] Distribution Date 
 Each $100,000
minimum denomination represents a 
 1/[            ]ths undivided interest 

in Class B of the 
 AMERICAN
EXPRESS CREDIT ACCOUNT MASTER TRUST, SERIES 201[    ]-[    ] 
 Evidencing an undivided interest in
certain assets of a trust, the corpus of which consists primarily of an interest in receivables generated from time to time in the ordinary course of business in a portfolio of credit and charge accounts serviced by 

AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., 

and other assets and interests constituting Trust Assets under the Third Amended and Restated Pooling and Servicing Agreement referred to
below. 
 (Not an interest in or obligation of American Express Travel Related Services Company, Inc., American Express Centurion Bank,
American Express Bank, FSB, American Express Receivables 

  
  

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

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

This certifies that CEDE & CO. (the “Class B Certificateholder”) is the registered owner of a fractional, undivided
interest in certain assets of a trust (the “Trust”) created pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of [            ]
[    ], 201[    ] (as amended and restated and otherwise amended and supplemented, the “Agreement”), as supplemented by the Series 201[    ]-[    ]
Supplement, dated as of [            ] [    ], 201[    ] (as amended and supplemented, the “Supplement”), among American Express
Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as transferors (together, the “Transferors”), American Express Travel Related Services Company, Inc., as servicer, and The Bank
of New York Mellon, a New York banking corporation, as trustee (the “Trustee”). The corpus of the Trust consists of (i) the Transferors’ ownership interest in a portfolio of receivables (the “Receivables”)
existing in credit and charge accounts identified under the Agreement from time to time (the “Accounts”), (ii) all Receivables generated under the Accounts from time to time thereafter, (iii) funds collected or to be
collected from cardmembers in respect of the Receivables, (iv) all funds which are from time to time on deposit in the Collection Account, the Special Funding Account, and any other Series Accounts and (v) all other assets and interests
constituting the Trust. Although a summary of certain provisions of the Agreement and the Supplement is set forth below and in the Summary of Terms and Conditions attached hereto and made a part hereof, this Class B Certificate does not purport to
summarize the Agreement and the Supplement and reference is made to the Agreement and the Supplement for information with respect to the interests, rights, benefits, obligations, proceeds and duties evidenced hereby and the rights, duties and
obligations of the Trustee. A copy of the Agreement and the Supplement (without schedules) may be requested from the Trustee by writing to the Trustee at the Corporate Trust Office. To the extent not defined herein, the capitalized terms used herein
have the meanings ascribed to them in the Agreement or the Supplement, as applicable. 
 This Class B Certificate is issued
under and is subject to the terms, provisions and conditions of the Agreement and the Supplement, to which Agreement and Supplement, each as amended and supplemented from time to time, the Class B Certificateholder by virtue of the acceptance hereof
assents and is bound. 
 No Class B Certificate may be acquired by or for the account of any employee benefit plan, trust or
account, including an individual retirement account, that is subject to the Employee Retirement Income Security Act of 1974, as amended, or that is described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended, or an entity
whose underlying assets include plan assets by reason of a plan’s investment in such entity (a “Benefit Plan”), unless (i) such acquirer or holder is an insurance company, (ii) the source of funds used to acquire or hold
such Certificate (or interest therein) is an “insurance company general account” (as defined in U.S. Department of Labor Prohibited Transaction Class Exemption (“PTCE”) 95-60), and (iii) the conditions set forth in Sections
I and III of PTCE 95-60 have been satisfied. By acquiring any interest in this Class B Certificate, each applicable Certificate Owner shall be deemed to have represented and warranted either (i) that it is not a Benefit Plan and is not acting
for the account of any Benefit Plan or (ii) that (1) it is an insurance company, (2) the source of funds used to acquire or hold an interest in such Certificate is an “insurance company general account” (as such term is
defined in PTCE 95-60), and (3) the conditions set forth in Sections I and III of PTCE 95-60 have been satisfied. 

THIS CLASS B CERTIFICATE IS SUBORDINATED TO THE EXTENT NECESSARY TO FUND PAYMENTS ON THE CLASS A CERTIFICATES TO THE EXTENT
SPECIFIED IN THE SUPPLEMENT. 

  
 A-2-2 

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

In general, payments of principal with respect to the Class B Certificates are limited to the Class B Invested Amount, which
may be less than the unpaid principal balance of the Class B Certificates. The Expected Final Payment Date is the [            ] 201[    ] Distribution Date, but
principal with respect to the Class B Certificates may be paid earlier or later under certain circumstances described in the Agreement and the Supplement. If for one or more months during the Controlled Accumulation Period there are not sufficient
funds to pay the Controlled Deposit Amount, then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of principal of
the Class B Certificates will occur later than the Expected Final Payment Date. 
 Unless the certificate of authentication
hereon has been executed by or on behalf of the Trustee, by manual signature, this Class B Certificate shall not be entitled to any benefit under the Agreement or the Supplement or be valid for any purpose. 

  
 A-2-3 

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

			
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION IV LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Dated: [            ] [    ],
201[    ] 

  
 A-2-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

			
	 THE BANK OF NEW YORK MELLON,

	 as Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

	
	 or

		
	 By:
	 	  

		 	 as Authenticating Agent

		 	 for the Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

  
 A-2-5 

 AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 201[    ]-[    ] 

CLASS B [    %][FLOATING RATE] ASSET BACKED CERTIFICATE 

Summary of Terms and Conditions 

The Receivables consist of Principal Receivables which arise generally from the purchase of goods and services and amounts
advanced to cardmembers as cash advances and Finance Charge Receivables. This Class B Certificate is one of a Series of Certificates entitled American Express Credit Account Master Trust, Series
201[    ]-[    ] (the “Series 201[    ]-[    ] Certificates”), and one of a class thereof entitled Class B Series
201[    ]-[    ] [    %][Floating Rate] Asset Backed Certificates (the “Class B Certificates”), each of which represents a fractional, undivided interest in certain assets
of the Trust. The assets of the Trust are allocated in part to the investor certificateholders of all outstanding Series (the “Certificateholders’ Interest”) with the remainder allocated to the Holders of the Transferor
Certificates. The aggregate interest represented by the Class B Certificates at any time in the Principal Receivables in the Trust shall not exceed an amount equal to the Class B Invested Amount at such time. The Class B Initial Invested Amount is
$[        ]. The Class B Invested Amount on any date will be an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class
B Certificateholder on or prior to such date, minus (c) the excess, if any, of the aggregate amount of Class B Investor Charge-Offs for all prior Distribution Dates over Class B Investor Charge-Offs reimbursed, minus (d) the
amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) of the Supplement (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral Invested
Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced to cover the Class A Investor Default Amount on all prior Distribution Dates, and plus
(f) the amount of Excess Spread and Excess Finance Charge Collections allocated to Series 201[    ]-[    ] and applied on all prior Distribution Dates for the purpose of reimbursing amounts deducted
pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested Amount may not be reduced below zero. 

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

On each Distribution Date, the Paying Agent shall distribute to each Class B Certificateholder of record on the last day of
the preceding calendar month (each a “Record Date”) such Class B Certificateholder’s pro rata share of such amounts (including amounts on deposit in the Collection Account and Principal Funding Account) as are payable to
the Class B Certificateholder pursuant to the Agreement and the Supplement. Distributions with respect to this Class B Certificate will be made by the Paying Agent by check mailed to the address of the Class B Certificateholder of record appearing
in the Certificate Register without the presentation or surrender of this Class B Certificate or the making of any notation thereon (except for the final distribution in respect of this Class B Certificate) except that with respect to Class B
Certificates registered in the name of Cede & Co., the nominee for The Depository Trust Company, distributions will be made in the form of immediately available funds. Final payment of this Class B Certificate will be made only upon
presentation and surrender of this Class B Certificate at the office or agency specified in the notice of final distribution delivered by the Trustee to the Series 201[    ]-[    ] Certificateholders in
accordance with the Agreement and the Supplement. 

  
 A-2-6 

 On any day occurring on or after the day on which the Invested Amount is reduced
to 5% or less of the Initial Invested Amount, the Transferors have the option to repurchase the Series 201[    ]-[    ] Certificateholders’ Interest in the Trust. The repurchase price will be equal to
(a) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date next following such day. Following the deposit of
the Reassignment Amount in the Collection Account, Series 201[    ]-[    ] Certificateholders will not have any interest in the Receivables and the Series
201[    ]-[    ] Certificates will represent only the right to receive such Reassignment Amount. 

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

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

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

The Servicer, the Transferors, the Trustee, the Paying Agent and the Transfer Agent and Registrar and any agent of any of
them, may treat the person in whose name this Class B Certificate is registered as the owner hereof for all purposes, and none of the Servicer, the Transferors, the Trustee, the Paying Agent, the Transfer Agent and Registrar, or any agent of any of
them, shall be affected by notice to the contrary except in certain circumstances described in the Agreement. 
 THIS
CLASS B CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH SUCH LAWS. 

  
 A-2-7 

 ASSIGNMENT 

Social Security or other identifying number of assignee
                                        

 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 

	
	  

	(name and address of assignee)

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

											
	 Dated:
	 	  
	 		 		 	  
	 	4/
					
		 		 		 		 	 Signature Guaranteed:

					
		 		 		 		 	  

  

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

  
 A-2-8 

 EXHIBIT B 

FORM OF MONTHLY PAYMENT INSTRUCTIONS AND 

NOTIFICATION TO THE TRUSTEE 
  

 
 AMERICAN EXPRESS
CREDIT ACCOUNT MASTER TRUST 
 SERIES 201[    ]-[    ] 

 
  

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

 1. Capitalized terms used in this Certificate have their respective meanings set forth in the Pooling and Servicing
Agreement or the Series 201[    ]-[    ] Supplement, dated as of [            ] [    ], 201[    ], among TRS,
the Transferors and the Trustee (as amended and supplemented, the “Supplement”), as applicable. 
 2. TRS
is the Servicer. 
 3. The undersigned is a Servicing Officer. 

 

	I.	 INSTRUCTION TO MAKE A WITHDRAWAL 

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

 With respect to the Class A Certificates, 
  

									
	 A)
	 	 Pursuant to subsection 4.05(a)(i):
	   

				
		 	 (1)
	 	 Interest at the Class A Certificate Rate for the related Interest Accrual Period on the Class A Invested Amount
	  	$	        	  
				
		 	 (2)
	 	 Class A Monthly Interest previously due but not paid
	  	$	        	  

  
 B-1 

									
		 	 (3)
	 	 Class A Additional Interest and any Class A Additional Interest due but not paid
	  	$	        	  
		
	 B)
	 	 Pursuant to subsection 4.05(a)(ii):
	   

				
		 	 (1)
	 	 The Class A Servicing Fee for the preceding Monthly Period, if applicable
	  	$	        	  
				
		 	 (2)
	 	 Accrued and unpaid Class A Servicing Fees, if applicable
	  	$	 	  
		
	 C)
	 	 Pursuant to subsection 4.05(a)(iii):
	   

				
		 	 (1)
	 	 Class A Investor Default Amount for the preceding Monthly Period
	  	$	 	  
		
	 With respect to the Class B Certificates,
	  			
		
	 A)
	 	 Pursuant to subsection 4.05(b)(i):
	   

				
		 	 (1)
	 	 Interest at the Class B Certificate Rate for the related Interest Accrual Period on the Class B Invested Amount
	  	$	 	  
				
		 	 (2)
	 	 Class B Monthly Interest previously due but not paid
	  	$	 	  
				
		 	 (3)
	 	 Class B Additional Interest and any Class B Additional Interest previously due but not paid
	  	$	 	  
		
	 B)
	 	 Pursuant to subsection 4.05(b)(ii):
	   

				
		 	 (1)
	 	 The Class B Servicing Fee for the preceding Monthly Period, if applicable
	  	$	 	  
				
		 	 (2)
	 	 Accrued and unpaid Class B Servicing Fees, if applicable
	  	$	 	  
		
	 With respect to the Collateral Interest
	  			
		
	 A)
	 	 Pursuant to subsection 4.05(c)(i):
	   

				
		 	 (1)
	 	 The Collateral Servicing Fee for the preceding Monthly Period, if applicable
	  	$	 	  
				
		 	 (2)
	 	 Accrued and unpaid Collateral Servicing Fees, if applicable
	  	$	 	  

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

  
 B-2 

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

 

									
	 A)
	 	 Pursuant to subsection 4.05(d):
	   

				
		 	 (1)
	  	 Amount to be treated as Shared Principal Collections
	  	$	        	  
		
	 B)
	 	 Pursuant to subsection 4.05(e):
	   

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

				
		 	 (1)
	  	 An amount up to the Class A Adjusted Invested Amount deposited in the Principal Funding Account
	  	$	 	  
				
		 	 (2)
	  	 On and after the Distribution Date on which the Class A Invested Amount is paid in full, an amount up to the Class B Invested Amount
deposited in the Principal Funding Account
	  	$	 	  
				
		 	 (3)
	  	 On and after the Distribution Date on which the Class B Invested Amount is paid in full, an amount up to the Collateral Invested
Amount distributed to the Collateral Interest Holder
	  	$	 	  

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

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

  
 B-3 

									
		 	 Aggregate amount of Class A Investor Charge-Offs not previously reimbursed allocated to Available Principal
Collections
	  	$	        	  
		
	 C)
	 	 Pursuant to subsection 4.07(c):
	   

			
		 	 Interest accrued on aggregate outstanding principal balance of the Class B Certificates not otherwise distributed to
Class B Certificateholders pursuant to Section 4.05(b)(i)
	  	$	 	  
		
	 D)
	 	 Pursuant to subsection 4.07(d):
	   

			
		 	 Class B Required Amount applied in the priority set forth in subsections 4.05(b)(i) and (ii)
	  	$	 	  
		
	 E)
	 	 Pursuant to subsection 4.07(d):
	   

			
		 	 Amount (up to the Class B Investor Default) to be applied as Available Principal Collections
	  	$	 	  
		
	 F)
	 	 Pursuant to subsection 4.07(e):
	   

			
		 	 The amount by which the Class B Invested Amount has been reduced pursuant to clauses (c), (d) and (e) of the definition
thereof allocated to Available Principal Collections
	  	$	 	  
		
	 G)
	 	 Pursuant to subsection 4.07(f):
	   

				
		 	 (1)
	  	 Collateral Senior Minimum Monthly Interest
	  	$	 	  
				
		 	 (2)
	  	 Collateral Senior Minimum Monthly Interest previously due but not paid
	  	$	 	  
				
		 	 (3)
	  	 Collateral Senior Additional Interest and any Collateral Senior Additional Interest previously due and not paid
	  	$	 	  
		
	 H)
	 	 Pursuant to subsection 4.07(g):
	   

			
		 	 Monthly Servicing Fee for such Distribution Date that has not been paid to the Servicer and any Monthly Servicing Fee
previously due but not paid to the Servicer
	  	$	 	  
		
	 I)
	 	 Pursuant to subsection 4.07(h):
	   

			
		 	 Collateral Default Amount allocated to Available Principal Collections
	  	$	 	  
		
	 J)
	 	 Pursuant to subsection 4.07(i):
	   

  
 B-4 

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

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

	II.	 INSTRUCTION TO MAKE CERTAIN PAYMENTS 

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

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

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

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

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

			
	 E)
	 	 Pursuant to subsection 5.01(e):
	  	

  
 B-5 

							
		 	 Aggregate amount to be distributed to the Collateral Interest Holder
	  	$	        	  

  

	III.	 ACCRUED AND UNPAID AMOUNTS 

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

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

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

 

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

		 	 Name:

		 	 Title:

  
 B-6 

 EXHIBIT C-1 

FORM OF MONTHLY STATEMENT 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 
  

											
	 A. TRUST ACTIVITY
	  	 	  	TRUST
TOTALS	 	 	 	  	 
	 Record Date
	  		  				 		  	
	 Number of days in Monthly Period
	  		  				 		  	
	 Beginning Number of Accounts
	  		  				 		  	
	 Beginning Principal Receivable Balance, including any Additions or Removals, or Adjustments of Principal Receivables during the Monthly
Period
	  		  	$	        	  	 		  	
	 a. Addition of Principal Receivables
	  		  	$	 	  	 		  	
	 b. Removal of Principal Receivables
	  		  	$	 	  	 		  	
	 c. Adjustments to Principal Receivables
	  		  	$	 	  	 		  	
	 Special Funding Account Balance
	  		  	$	 	  	 		  	
	 Beginning Total Principal Balance
	  		  	$	 	  	 		  	
	 Finance Charge Collections (excluding Recoveries)
	  		  	$	 	  	 		  	
	 Collections of Discount Option Receivables
	  		  	$	 	  	 		  	
	 Recoveries
	  		  	$	 	  	 		  	
	 Total Collections of Finance Charge Receivables
	  		  	$	 	  	 		  	
	 Total Collections of Principal Receivables
	  		  	$	 	  	 		  	
	 Monthly Payment Rate
	  		  	 	    	% 	 		  	
	 Defaulted Amount
	  		  	$	 	  	 		  	
	 Annualized Default Rate
	  		  	 	    	% 	 		  	
	 Annualized Default Rate, Net of Recoveries
	  		  	 	    	% 	 		  	
	 Trust Portfolio Yield
	  		  	 	    	% 	 		  	
	 New Principal Receivables
	  		  	$	 	  	 		  	
	 Ending Number of Accounts
	  		  				 		  	
	 Ending Principal Receivables Balance
	  		  	$	 	  	 		  	
	 Ending Required Minimum Principal Balance
	  		  	$	 	  	 		  	
	 Ending Transferor Amount
	  		  	$	 	  	 		  	
	 Ending Special Funding Account Balance
	  		  	$	 	  	 		  	
	 Ending Total Principal Balance
	  		  	$	 	  	 		  	
	 Ending Total Receivables
	  		  	$	 	  	 		  	
					
	 B. SERIES ALLOCATIONS
	  	 	  	 	 	 	 	  	 
	 Group Number
	  		  				 		  	
	 Invested Amount
	  		  	$	 	  	 		  	
	 Adjusted Invested Amount
	  		  	$	 	  	 		  	
	 Principal Funding Account Balance
	  		  	$	 	  	 		  	
	 Series Required Transferor Amount
	  		  	$	 	  	 		  	
	 Series Allocation Percentage
	  		  	 	    	% 	 		  	
	 Series Allocable Finance Charge Collections
	  		  	$	 	  	 		  	
	 Series Allocable Recoveries
	  		  	$	 	  	 		  	

  
 C-1-1 

															
	 Series Allocable Principal Collections
	  	$	 	  	 				  			
	 Series Allocable Defaulted Amount
	  	$	        	  	 				  			
				
	 C. GROUP ALLOCATIONS (1)
	  	 	 	 	 	 	  	 	 
	 Group Number
	  				 				  			
	 Invested Amount
	  	$	 	  	 				  			
	 Investor Finance Charge Collections
	  	$	 	  	 				  			
	 Investor Monthly Interest
	  	$	 	  	 				  			
	 Investor Default Amount
	  	$	 	  	 				  			
	 Investor Monthly Fees
	  	$	 	  	 				  			
	 Investor Additional Amounts
	  	$	 	  	 				  			
	 Total
	  	$	 	  	 				  			
				
	 Reallocated Investor Finance Charge Collections
	  	$	 	  	 				  			
	 Investment Funding Account Proceeds
	  	$	 	  	 				  			
	 Available Excess
	  	$	 	  	 				  			
				
	 Group Investor Finance Charge Collections
	  	$	 	  	 				  			
	 Group Expenses
	  	$	 	  	 				  			
	 Group Reallocable Investor Finance Charge Collections
	  	$	 	  	 				  			
	  

(1)    Series 2009-D-II does not share in group allocations with other series. Therefore, certain
figures set forth in section “B. Series Allocations” above, which include Series 2009-D-II, will not equal the corresponding figures set forth in this section “C. Group Allocations.”
	 

         

					
	D. TRUST PERFORMANCE	  	 	  	 	 	 	 	 	  	 	 
	 Delinquencies
	  	 	  	Percentage of
Ending Total
Receivables	 	 	 	 	  	 	 
		  	31-60 Days
Delinquent	  	 	    	% 	 	 	                	  	  	 	                	  
		  	61-90 Days
Delinquent	  	 	    	% 	 				  			
		  	90-120 Days
Delinquent	  	 	    	% 	 				  			
		  	120+ Days
Delinquent	  	 	    	% 	 				  			
		  	Total 30+ Days
Delinquent	  	 	    	% 	 				  			
					
	E. REPURCHASES AND REPLACEMENTS	  		  				 				  			
	
	 Information required by Rule 15Ga-1(a) concerning the Trust:
	   

	 [No activity to report for reporting period.]
	   

	 Most recent Form ABS-15G:
	   

	 Form ABS-15G filed on              under CIK number
            
	   

  
 C-1-2 

									
	 F. ASSET REVIEW
  

	 Information required by Item 1121(d)(1) of Regulation AB concerning the Trust:

	 [No activity to report for reporting period.]

	 Information required by Item 1121(d)(2) of Regulation AB concerning the Trust:

	 [There has been no change to the Asset Representation Reviewer during the reporting period.]

	  
 G. INVESTOR COMMUNICATION

 

	 Information required by Item 1121(e) of Regulation AB concerning the Trust:

	  
 [No activity to
report for reporting period.]
  
 [On
[            ], 20[    ], [            ] received a request from
[            ] expressing an interest in communicating with other investors with regard to the possible exercise of rights under [TRANSACTIONAL AGREEMENT]. The requesting investor may be
contacted at:
  
 [ADDRESS]

[PHONE NUMBER]

[EMAIL]]

  
 C-1-3 

 SERIES 201[    ]-[    ] CERTIFICATES 

 

																	
	 A. INVESTOR/ TRANSFEROR ALLOCATIONS
	  	SERIES
ALLOCATIONS	 	 	TOTAL
INVESTOR
INTEREST	 	 	TRANSFERORS’
INTEREST	 	 	 	 
	 Beginning Invested Amount/Transferor Amount
	  	$	 	  	 	$	 	  	 	$	 	  	 			
	 Beginning Adjusted Invested Amount
	  	$	 	  	 	$	 	  	 	$	 	  	 			
	 Floating Allocation Percentage
	  	 	    	% 	 	 	    	% 	 	 	    	% 	 			
	 Principal Allocation Percentage
	  	 	    	% 	 	 	    	% 	 	 	    	% 	 			
	 Collections of Finance Charge Receivables
	  	$	 	  	 	$	 	  	 	$	 	  	 			
	 Collections of Principal Receivables
	  	$	 	  	 	$	 	  	 	$	 	  	 			
	 Defaulted Amount
	  	$	 	  	 	$	 	  	 	$	 	  	 			
	 Ending Invested Amount/Transferor Amount
	  	$	 	  	 	$	 	  	 	$	 	  	 			
					
	 B. MONTHLY PERIOD FUNDING REQUIREMENTS
	  	CLASS A	 	 	CLASS B	 	 	COLLATERAL
INTEREST	 	 	TOTAL	 
	 Principal Funding Account Balance
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 Investment Proceeds for Monthly Period
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 Required Reserve Account Amount
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 Reserve Account Opening Balance
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 Reserve Account Investment Proceeds retained per Section 4.12(b)
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 Reserve Account Deposit
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 Reserve Draw Amount
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 Reserve Account Surplus (after giving effect to any principal distributions on the related Distribution Date)
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 Reserve Account Closing Balance (after giving effect to any principal distributions and Reserve Account withdrawals on the related
Distribution Date)
	  	$	 	  	 	$	 	  	 	$	 	  	 	$	 	  
	 [LIBOR Determination Date
	  				 				 				 	 	            	] 

  
 C-1-4 

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

  
 C-1-5 

									
	 D)
	 	 Information regarding distributions on the Distribution Date in respect of the Class A Certificates per $1,000 original
certificate principal amount.
	  			
				
		 	 (1)
	 	 The total amount of the distribution:
	  	$	        	  
				
		 	 (2)
	 	 The amount of the distribution in respect of Class A Monthly Interest:
	  	$	 	  
				
		 	 (3)
	 	 The amount of the distribution in respect of Class A Outstanding Monthly Interest:
	  	$	 	  
				
		 	 (4)
	 	 The amount of the distribution in respect of Class A Additional Interest:
	  	$	 	  
				
		 	 (5)
	 	 The amount of the distribution in respect of principal of the Class A Certificates:
	  	$	 	  
		
	 E)
	 	 Class A Investor Charge-Offs and Reimbursement of Class A Investor Charge-Offs.
	   

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

  
 C-1-6 

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

  
 C-1-7 

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

  
 C-1-8 

													
	 J. APPLICATION OF REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS
	  	 	 	  	 	 	 	 	 
	 1. CLASS A AVAILABLE FUNDS
	  	 	                	  	  	$	        	  	 	 	                	  
	 a. Class A Monthly Interest
	  				  	$	        	  	 			
	 b. Class A Outstanding Monthly Interest
	  				  	$	        	  	 			
	 c. Class A Additional Interest
	  				  	$	        	  	 			
	 d. Class A Investor Default Amount (treated as
	  				  	$	        	  	 			
	 Available Principal Collections)
	  				  	$	        	  	 			
	 e. Excess Spread
	  				  	$	        	  	 			
	 2. CLASS B AVAILABLE FUNDS
	  				  	$	        	  	 			
	 a. Class B Monthly Interest
	  				  	$	        	  	 			
	 b. Class B Outstanding Monthly Interest
	  				  	$	        	  	 			
	 c. Class B Additional Interest
	  				  	$	        	  	 			
	 d. Excess Spread
	  				  	$	        	  	 			
	 3. COLLATERAL AVAILABLE FUNDS
	  				  	$	        	  	 			
	 a. Excess Spread
	  				  	$	        	  	 			
	 4. TOTAL EXCESS SPREAD
	  				  	$	        	  	 			
				
	 K. REALLOCATED PRINCIPAL COLLECTIONS
	  	 	 	  	 	 	 	 	 
	 1. Principal Allocation Percentage
	  				  	 	    	% 	 			
	 2. Series 201[    ]-[    ] Allocable Principal Collections
	  				  	$	        	  	 			
	 3. Principal Allocation Percentage of Series 201[    ]-[    ] Allocable Principal
Collections
	  				  	$	        	  	 			
	 4. Reallocated Principal Collections Required to fund the Required Amount
	  				  	$	        	  	 			
	 5. Item 3 minus Item 4
	  				  	$	        	  	 			
	 6. Shared Principal Collections from other Series allocated to Series 201[    ]-[    ]
	  				  	$	        	  	 			
	 7. Other amounts treated as Available Principal Collections
	  				  	$	        	  	 			
	 8. Available Principal Collections (total of items 5, 6 and 7)
	  				  	$	        	  	 			
				
	 L. APPLICATION OF AVAILABLE PRINCIPAL COLLECTIONS DURING REVOLVING PERIOD
	  	 	 	  	 	 	 	 	 
	 1. Treated as Shared Principal Collections
	  				  	$	        	  	 			
				
	 M. APPLICATION OF PRINCIPAL COLLECTIONS DURING ACCUMULATION OR AMORTIZATION
PERIOD
	  	 	 	  	 	 	 	 	 
	 1. Principal Funding Account
	  				  	$	        	  	 			
	 2. Excess of Collateral Invested Amount over Required Collateral Invested Amount
	  				  	$	        	  	 			
	 3. Distribution of Principal
	  				  	$	        	  	 			
	 4. Treated as Shared Principal Collections
	  				  	$	        	  	 			

  
 C-1-9 

															
	 N. APPLICATION OF EXCESS SPREAD AND EXCESS FINANCE CHARGE COLLECTIONS
ALLOCATED TO
SERIES 201[    ]-[    ]
	 	 	 	 	 	 	 	 	 	 	 
	 1. Excess Spread
	 		 				 	$	        	  	 			
	 2. Excess Finance Charge Collections
	 		 				 	$	        	  	 			
	 3. Applied to fund Class A Required Amount
	 		 				 	$	        	  	 			
	 4. Class A Investor Charge-Offs treated as Available Principal Collections
	 		 				 	$	        	  	 			
	 5. Applied to fund overdue Class B Interest
	 		 				 	$	        	  	 			
	 6. Applied to fund Class B Required Amount
	 		 				 	$	        	  	 			
	 7. Reduction of Class B Invested Amount treated as Available Principal Collections
	 		 				 	$	        	  	 			
	 8. Applied to Collateral Senior Minimum Monthly Interest
	 		 				 	$	        	  	 			
	 9. Applied to unpaid Monthly Servicing Fee
	 		 				 	$	        	  	 			
	 10. Collateral Default Amount treated as Available Principal Collections
	 		 				 	$	        	  	 			
	 11. Reduction of Collateral Invested Amount treated as Available Principal Collections
	 		 				 	$	        	  	 			
	 12. Deposited to Reserve Account
	 		 	 	                	  	 	$	        	  	 	 	                	  
	 13. Remaining Excess Spread distributed to Collateral Interest Holder(s)
	 		 				 	$	        	  	 			
					
	 O. YIELD AND BASE RATE
	 	 	 	 	 	 	 	 	 	 	 
	 1. Base Rate
	 		 				 				 			
		 	a. Current
Monthly Period	 				 	 	    	% 	 			
		 	b. Prior
Monthly Period	 				 	 	    	% 	 			
		 	c. Second Prior
Monthly Period	 				 	 	    	% 	 			
					
	 2. Three Month Average Base Rate
	 		 				 	 	    	% 	 			
	 3. Series Adjusted Portfolio Yield
	 		 				 				 			
		 	a. Current
Monthly Period	 				 	 	    	% 	 			
		 	b. Prior
Monthly Period	 				 	 	    	% 	 			
		 	c. Second Prior
Monthly Period	 				 	 	    	% 	 			
	 4. Three Month average Series Adjusted Portfolio Yield
	 		 				 	 	    	% 	 			
	 5. Is the 3 month average Series Adjusted Portfolio Yield more than the 3 month average Base Rate?
	 		 				 	 	[Yes/No]	  	 			

  
 C-1-10 

									
	 P. REASSIGNMENT AMOUNT
	  	 	  	 	 	  	 
	 Adjusted Invested Amount
	  		  	$	        	  	  	
	 Monthly Interest
	  		  	$	        	  	  	
	 Monthly Interest previously due but not paid
	  		  	$	        	  	  	
	 Additional Interest
	  		  	$	            	  	  	
	 Additional Interest previously due but not paid
	  		  	$	        	  	  	
	 Reassignment Amount
	  		  	$	        	  	  	

  
 C-1-11 

 EXHIBIT C-2 

FORM OF ANNUAL PAYMENT INFORMATION 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

SERIES 201[    ]-[    ] 

FOR THE YEAR ENDED DECEMBER 31, 20[    ] 

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc. (“TRS”),
as Servicer pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of [            ] [    ], 201[    ] (as amended and
restated and as otherwise amended and supplemented, the “Pooling and Servicing Agreement”), among TRS, American Express Receivable Financing Corporation II, American Express Receivable Financing Corporation III LLC and American Express
Receivable Financing Corporation IV LLC, as transferors (together, the “Transferors”) and The Bank of New York Mellon, as trustee (the “Trustee”), does hereby certify as follows: 

Capitalized terms used in this Certificate have their respective meanings set forth in the Pooling and Servicing Agreement or
the Series 201[    ]-[    ] Supplement, dated as of [            ] [    ], 201[    ], among TRS, the
Transferors and the Trustee (as amended and supplemented, the “Supplement”), as applicable. 
 Pursuant to
Section 5.01 of the Series Supplement, the Servicer instructed the Trustee to pay in accordance with Section 5.01 from the Interest Funding Account or the Principal Funding Account, as applicable, the following aggregate amounts during the
year ended December 31, 20[    ]: 
  

							
	 A)
	 	 Pursuant to subsection 5.01(a):
	  			
			
		 	 Interest distributed to Class A Certificateholders
	  	$	        	  
			
	 B)
	 	 Pursuant to subsection 5.01(b):
	  			
			
		 	 On the Expected Final Payment Date or a Special Payment Date, if applicable, principal distributed to the Class A
Certificateholders
	  	$	 	  
			
	 C)
	 	 Pursuant to subsection 5.01(c):
	  			
			
		 	 Interest distributed to Class B Certificateholders
	  	$	 	  
			
	 D)
	 	 Pursuant to subsection 5.01(d):
	  			
			
		 	 On the Expected Final Payment Date or a Special Payment Date, if applicable, on or after the date Class A Invested Amount is paid in
full, principal distributed to the Class B Certificateholders
	  	$	 	  
			
	 E)
	 	 Pursuant to subsection 5.01(e):
	  			
			
		 	 Aggregate amount distributed to the Collateral Interest Holder in respect of interest
	  	$	 	  

  
 C-2-1 

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

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

					
	 AMERICAN EXPRESS TRAVEL RELATED

	 SERVICES COMPANY, INC., as Servicer

		
	 By:
	 	  

		 	 Name:
	 	
		 	 Title:
	 	

  
 C-2-2 

 EXHIBIT D 

FORM OF MONTHLY SERVICER’S CERTIFICATE 

AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC. 

AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 

The undersigned, a duly authorized representative of American Express Travel Related Services Company, Inc., as Servicer
(“TRS”), pursuant to the Third Amended and Restated Pooling and Servicing Agreement, dated as of [            ] [    ], 201[    ]
(as amended and restated and as otherwise amended and supplemented, the “Agreement”), as supplemented by the Series Supplements (as amended and supplemented, the “Series Supplements”), among TRS, as Servicer,
American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as Transferors, and The Bank of New York Mellon, as Trustee, does hereby certify as follows: 

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

3. The undersigned is a Servicing Officer. 

4. This Certificate relates to the Distribution Date occurring on
            , 20     and covers activity from             , 20     through
            , 20    . 
 5. As of the date
hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations under the Agreement through the Monthly Period preceding such Distribution Date [or, if there has been a default in the
performance of any such obligation, set forth in detail the (i) nature of such default, (ii) the action taken by the Servicer, if any, to remedy such default and (iii) the current status of each such default; if applicable, insert
“None”]. 
 6. As of the date hereof, to the best knowledge of the undersigned, no Pay Out Event occurred on or
prior to such Distribution Date. 
 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate
this     day of             , 20    . 
  

			
	 AMERICAN EXPRESS TRAVEL RELATED

SERVICES COMPANY, INC.,

	 as Servicer

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 D-1 

 EXHIBIT E 

FORM OF INVESTMENT LETTER 
 [Date]

  

	 	Re:	 American Express Credit Account Master Trust; 

Purchases of Series 201[    ]-[    ] Collateral Interest 

Ladies and Gentlemen: 
 This
letter (the “Investment Letter”) is delivered by the undersigned (the “Purchaser”) pursuant to Section 9.07 of the Series 201[    ]-[    ] Supplement, dated as of
[            ] [    ], 201[    ] (the “Series Supplement”) to Third Amended and Restated Pooling and Servicing Agreement, dated as of
[            ] [    ], 201[    ] (as amended and restated and as otherwise amended and supplemented, the “Agreement”), each among The Bank
of New York Mellon, as Trustee, American Express Receivables Financing Corporation III LLC and American Express Receivables Financing Corporation IV LLC, as Transferors, and American Express Travel Related Services Company, Inc., as Servicer.
Capitalized terms used herein without definition shall have the meanings set forth in the Agreement. The Purchaser represents to and agrees with the Transferors as follows: 
  

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

  

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

  

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

  
 E-1 

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

  

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

  

			
	 Very truly yours,

	
	[NAME OF PURCHASER]
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  

			
	 AGREED TO AS OF THE DATE FIRST ABOVE

WRITTEN:

	
	 AMERICAN EXPRESS RECEIVABLES

FINANCING CORPORATION III LLC,
 as
Transferor

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	 AMERICAN EXPRESS RECEIVABLES

FINANCING CORPORATION IV LLC,
 as
Transferor

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 E-2EX-4.3

 Exhibit 4.3 
  

 
 AMERICAN EXPRESS CREDIT ACCOUNT
MASTER TRUST 
 [FORM OF] AMENDED AND RESTATED 

RECEIVABLES PURCHASE AGREEMENT 

between 
 AMERICAN EXPRESS
CENTURION BANK 
 and 

AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC 

Dated as of [            ], 2015 

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	ARTICLE I	  
	
	DEFINITIONS	  
			
	Section 1.01.	  	 Definitions
	  	 	1	  
			
	Section 1.02.	  	 Other Definitional Provisions
	  	 	10	  
	
	ARTICLE II	  
	
	PURCHASE AND CONVEYANCE OF RECEIVABLES	  
			
	Section 2.01.	  	 Purchase
	  	 	11	  
			
	Section 2.02.	  	 Addition of Accounts
	  	 	12	  
			
	Section 2.03.	  	 Removal and Deletion of Accounts
	  	 	14	  
	
	ARTICLE III	  
	
	CONSIDERATION AND PAYMENT	  
			
	Section 3.01.	  	 Purchase Price
	  	 	15	  
			
	Section 3.02.	  	 Adjustments to Purchase Price
	  	 	15	  
			
	Section 3.03.	  	 Use of Name, Logo and Marks
	  	 	15	  
	
	ARTICLE IV	  
	
	REPRESENTATIONS AND WARRANTIES	  
			
	Section 4.01.	  	 Representations and Warranties of Centurion Relating to Centurion
	  	 	17	  
			
	Section 4.02.	  	 Representations and Warranties of Centurion Relating to the Agreement and the Receivables
	  	 	18	  
			
	Section 4.03.	  	 Representations and Warranties of RFC III
	  	 	19	  
	
	ARTICLE V	  
	
	COVENANTS	  
			
	Section 5.01.	  	 Covenants of Centurion
	  	 	21	  
	
	ARTICLE VI	  
	
	REPURCHASE OBLIGATION	  
			
	Section 6.01.	  	 Reassignment of Ineligible Receivables
	  	 	25	  
			
	Section 6.02.	  	 Reassignment of Other Receivables
	  	 	25	  
	
	ARTICLE VII	  
	
	CONDITIONS PRECEDENT	  
			
	Section 7.01.	  	 Conditions to RFC III’s Obligations Regarding Initial Receivables
	  	 	27	  

  
 i 

 TABLE OF CONTENTS 

continued 
  

							
	 	  	 	  	Page	 
			
	Section 7.02.	  	 Conditions Precedent to Centurion’s Obligations
	  	 	27	  
	
	ARTICLE VIII	  
	
	TERM AND PURCHASE TERMINATION	  
			
	Section 8.01.	  	 Term
	  	 	29	  
			
	Section 8.02.	  	 Purchase Termination
	  	 	29	  
	
	ARTICLE IX	  
	
	MISCELLANEOUS PROVISIONS	  
			
	Section 9.01.	  	 Amendment
	  	 	30	  
			
	Section 9.02.	  	 Governing Law
	  	 	30	  
			
	Section 9.03.	  	 Notices
	  	 	30	  
			
	Section 9.04.	  	 Severability of Provisions
	  	 	30	  
			
	Section 9.05.	  	 Assignment
	  	 	30	  
			
	Section 9.06.	  	 Acknowledgement and Agreement of Centurion
	  	 	31	  
			
	Section 9.07.	  	 Further Assurances
	  	 	31	  
			
	Section 9.08.	  	 No Waiver; Cumulative Remedies
	  	 	31	  
			
	Section 9.09.	  	 Counterparts
	  	 	31	  
			
	Section 9.10.	  	 Binding; Third-Party Beneficiaries
	  	 	31	  
			
	Section 9.11.	  	 Merger and Integration
	  	 	32	  
			
	Section 9.12.	  	 Headings
	  	 	32	  
			
	Section 9.13.	  	 Schedules and Exhibits
	  	 	32	  
			
	Section 9.14.	  	 Survival of Representations and Warranties
	  	 	32	  
			
	Section 9.15.	  	 Nonpetition Covenant
	  	 	32	  
		
	EXHIBIT A: FORM OF SUPPLEMENTAL CONVEYANCE	  	 	A-1	  
		
	SCHEDULE 1: LIST OF ACCOUNTS	  	 	I-1	  

  
 ii 

 AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, dated as of
[            ], 2015, by and between AMERICAN EXPRESS CENTURION BANK, a Utah industrial loan company (together with its permitted successors and assigns,
“Centurion”), and AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC, a Delaware limited liability company (together with its permitted successors and assigns, “RFC III”). 

W I T N E S S E T H: 

WHEREAS, RFC III desires to purchase, from time to time, certain Receivables (hereinafter defined) existing or arising in
designated credit or charge accounts of Centurion; 
 WHEREAS, Centurion desires to sell and assign, from time to time,
certain Receivables to RFC III upon the terms and conditions hereinafter set forth; 
 WHEREAS, it is contemplated that the
Receivables purchased hereunder will be transferred by RFC III to the Trustee under the terms of the Pooling and Servicing Agreement and that the Trust created under the Pooling and Servicing Agreement will issue beneficial interests in the Trust
(each capitalized term as hereinafter defined); 
 WHEREAS, Centurion agrees that all representations, warranties, covenants
and agreements made by Centurion herein with respect to the Accounts and the Receivables shall also be for the benefit of the Trust, the Trustee and the Certificateholders (each capitalized term as hereinafter defined); and 

WHEREAS, Centurion and RFC III previously entered into the Receivables Purchase Agreement, dated as of April 16, 2004
(the “Original Agreement”); and 
 WHEREAS, Centurion and RFC III desire to amend and restate the
Original Agreement. 
 NOW, THEREFORE, it is hereby agreed by and between Centurion and RFC III as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01. Definitions. All capitalized terms used herein or in any certificate, or document made or
delivered pursuant hereto, and not defined herein or therein, shall have the following meanings: 

“Account” shall mean (a) each Initial Account, (b) each Additional Account (but only from and after
the Addition Date with respect thereto), (c) each Related Account, and (d) each Transferred Account. The term “Account” shall not include Deleted Accounts and any Account all of the Receivables in which are reassigned to
Centurion pursuant to Section 6.01 or Section 6.02. 

 “Account Agreement” shall mean, with respect to an Account, the
agreement between Centurion and the Obligor governing the terms and conditions of such Account, as such agreement may be amended, modified or otherwise changed from time to time. 

“Account Schedule” shall mean a computer file or microfiche list containing a true and complete list of
Accounts, identified by account number, and setting forth, with respect to each Account other than the Initial Accounts, the aggregate amount outstanding in such Account (a) on the Distribution Date immediately succeeding the related Monthly
Period (for any Account Schedule relating to New Accounts) and (b) on the Addition Cut-Off Date (for any Account Schedule relating to Aggregate Addition Accounts). 

“Addition Cut-Off Date” shall mean (a) with respect to New Accounts, the later of the dates on which
such New Accounts are originated or designated, and (b) with respect to Aggregate Addition Accounts, the date specified as such in the notice delivered with respect thereto. 

“Addition Date” shall mean (a) with respect to New Accounts, the first Distribution Date following the
calendar month in which falls the later of the dates on which such New Accounts are originated or designated, and (b) with respect to Aggregate Addition Accounts, the date from and after which such Aggregate Addition Accounts are included
as Accounts pursuant to Subsection 2.02(a)(i). 
 “Addition Selection Date” shall mean, for each
Aggregate Addition Account, the date specified as such in the notice delivered with respect thereto pursuant to Subsection 2.02(a). 

“Additional Account” shall mean each New Account and each Aggregate Addition Account. 

“Affiliate” shall mean, with respect to any specified Person, any other Person controlling or controlled by
or under common control with such specified Person. For the purposes of this definition, “control” shall mean the power to direct the management and policies of a Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms “controlling” and “controlled” shall have meanings correlative to the foregoing. 

“Aggregate Addition Account” means each credit or charge account or line of credit (if, with respect to the
line of credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and the line of credit contains an indicator as described in
Subsection 2.01(c)), established pursuant to an Account Agreement between Centurion and any Person, which account or line of credit is designated pursuant to Subsection 2.02(a) to be included as an Account and is identified on an Account Schedule
delivered pursuant to Sections 2.01 and 2.02. 
 “Agreement” shall mean this Amended and Restated
Receivables Purchase Agreement, as the same may be amended and supplemented from time to time. 
 “ARR
Representations and Warranties” shall have the meaning specified in the Pooling and Servicing Agreement. 

  
 2 

 “Asset Representations Review” shall have the meaning specified
in the Pooling and Servicing Agreement. 
 “Asset Representations Review Agreement” shall have the meaning
specified in the Pooling and Servicing Agreement. 
 “Asset Representations Reviewer” shall have the
meaning specified in the Pooling and Servicing Agreement. 
 “Average Rate” shall have the meaning
specified in the Pooling and Servicing Agreement. 
 “Business Day” shall mean 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, or any other State in which the principal executive offices of Centurion are located, are authorized
or obligated by law, executive order or governmental decree to be closed. 
 “Cash Advance Fees” shall mean
cash advance transaction fees and cash advance late fees, if any, as specified in any Account Agreement applicable to an Account. 

“Centurion” shall have the meaning specified in the initial paragraph of this Agreement. 

“Certificateholder” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Closing Date” shall mean the close of business on April 16, 2004. 

“Collection Account” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Collections” shall mean all payments (including Recoveries and Insurance Proceeds) received in respect of
the Receivables, in the form of cash, checks, wire transfers, electronic transfers, ATM transfers or any other form of payment. 

“Conveyance” shall have the meaning specified in Subsection 2.01(a). 

“Credit Guidelines” shall mean the policies and procedures of Centurion, as such policies and procedures may
be amended from time to time, (a) relating to the operation of its credit or charge business, as the case may be, which generally are applicable to its portfolio of similar accounts, including the policies and procedures for determining the
creditworthiness of customers and the extension of credit or charge privileges to customers, and (b) relating to the maintenance of accounts and collection of related receivables. 

“Date of Processing” shall mean, with respect to any transaction or receipt of Collections, the Business Day
after such transaction is first output, in written form under the Servicer’s customary and usual practices, from the Servicer’s computer file of Accounts and accounts comparable to the Accounts (without regard to the effective date of
recordation). 

  
 3 

 “Debtor Relief Laws” shall mean (a) the United States
Bankruptcy Code and (b) all other applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization, suspension of payments, readjustment of debt, marshalling of assets, assignment for the
benefit of creditors and similar debtor relief laws from time to time in effect in any jurisdiction affecting the rights of creditors generally or the rights of creditors of banks. 

“Defaulted Receivable” shall mean a Principal Receivable which is charged off as uncollectible in accordance
with the Credit Guidelines and the Servicer’s customary and usual servicing procedures for servicing accounts comparable to the Accounts. A Principal Receivable shall become a Defaulted Receivable on the Date of Processing on which such
Principal Receivable is recorded as charged-off on the Servicer’s computer file of Accounts. 
 “Deleted
Account” shall mean any Removed Account as to which there are no Receivables arising therein owned by RFC III. 

“Determination Date” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Distribution Date” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Eligible Account” shall mean a credit or charge account or line of credit (if, with respect to the line of
credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and the line of credit contains an indicator as described in Subsection
2.01(c)), owned by Centurion which (i) in the case of the Initial Accounts, as of the selection date related to its date of designation as an “Account” under the Original Pooling Agreement or (ii) in the case of the Additional
Accounts, as of the applicable Addition Selection Date, in each case, meets the following requirements: 
 (a) is a credit
or charge account or line of credit (if, with respect to the line of credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and
the line of credit contains an indicator that it has been sold as described in Subsection 2.01(c)) in existence and maintained by Centurion; 

(b) is payable in United States dollars; 

(c) has an Obligor who is not confirmed by Centurion in its computer files as being involved in a voluntary or involuntary
bankruptcy proceeding; 
 (d) has an Obligor who has provided, as his or her most recent billing address, an address located
in the United States or its territories or possessions or Canada or a United States military address; provided, however, that, with the consent of RFC III, as of any date of determination, up to 3% of the Accounts (calculated by number
of Accounts) may have Obligors who have provided, as their billing addresses, addresses located outside of such jurisdictions; 

  
 4 

 (e) if such account is a credit card or charge card account, has not been
identified as an account with respect to which a related card has been lost or stolen; 
 (f) has not been sold or pledged
to any other party; 
 (g) does not have any receivables that have been sold or pledged by Centurion to any other party
(except pursuant to the Original Pooling Agreement); and 
 (h) does not have any receivables that are Defaulted Receivables
or that have been identified by Centurion as having been incurred as a result of the fraudulent use of a related credit or charge card. 

Notwithstanding the above requirements, Eligible Accounts may include accounts (I) the receivables of which have been written off or (II)
with respect to which Centurion has confirmed the related Obligor is bankrupt, in each case as of the selection dates related to their date of designation as an “Account” under the Original Pooling Agreement with respect to Initial
Accounts and as of the related Addition Selection Date with respect to Additional Accounts; provided, however, that (1) the balance of all receivables included in such accounts is reflected on the books and records of Centurion
(and is treated for purposes of this Agreement) as “zero,” (b) borrowing and charging privileges with respect to all such accounts have been canceled in accordance with the Credit Guidelines applicable thereto and will not be
reinstated, and (c) any recoveries, insurance proceeds or other amounts realized on such accounts are retained by Centurion. 

“Eligible Receivable” shall mean each Receivable: 

(a) which has arisen in an Eligible Account; 

(b) which was created in compliance in all material respects with all Requirements of Law applicable to Centurion and pursuant
to an Account Agreement that complies in all material respects with all Requirements of Law applicable to Centurion, in either case, the failure to comply with which would have a material adverse effect on RFC III; 

(c) with respect to which all material consents, licenses, approvals or authorizations of, or registrations or declarations
with, any Governmental Authority required to be obtained, effected or given in connection with the creation of such Receivable or the execution, delivery and performance by Centurion of the Account Agreement pursuant to which such Receivable was
created, have been duly obtained, effected or given and are in full force and effect; 
 (d) as to which, at the time of the
sale of such Receivable to RFC III, Centurion has good and marketable title thereto, free and clear of all Liens (other than any Lien for municipal or other local taxes of Centurion if such taxes are not then due and payable or if Centurion is then
contesting the validity thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves with respect thereto); 

(e) which has been the subject of a valid sale and assignment from Centurion to RFC III of all Centurion’s right, title
and interest therein (including any proceeds thereof); 

  
 5 

 (f) which is the legal, valid and binding payment obligation of the Obligor
thereon, enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws and except as such enforceability may be limited by general principles of equity (whether
considered in a suit at law or in equity); 
 (g) which, at the time of the sale of such Receivable to RFC III, has not been
waived or modified except as permitted in accordance with the Credit Guidelines and which waiver or modification is reflected in Centurion’s computer file of accounts; 

(h) which, at the time of the sale of such Receivable to RFC III, is not subject to any right of rescission, setoff,
counterclaim or any other defense (including defenses arising out of violations of usury laws) of the Obligor, other than defenses arising out of applicable Debtor Relief Laws; 

(i) as to which, at the time of the sale of such Receivable to RFC III, Centurion has satisfied all its obligations required
to be satisfied by such time; 
 (j) as to which, at the time of the sale of such Receivable to RFC III, Centurion has not
taken any action which would impair, or omitted to take any action the omission of which would impair, the rights of RFC III therein; and 

(k) which constitutes either an “account” or a “general intangible” under and as defined in Article 9 of
the UCC as then in effect in any state where the filing of a financing statement is then required to perfect RFC III’s interest in such Receivable and the proceeds thereof. 

“Finance Charge Receivables” shall mean Receivables created in respect of Periodic Rate Finance Charges, Cash
Advance Fees, annual membership fees and annual service charges, Late Fees, Overlimit Fees, and all other incidental and miscellaneous fees and charges. 

“Governmental Authority” shall mean 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” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Initial Account” shall mean each credit or charge account or line of credit (if, with respect to the line of
credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and the line of credit contains an indicator as described in Subsection
2.01(c)) established pursuant to an Account Agreement between Centurion and any Person, which account or line of credit is identified in the Account Schedule delivered to RFC III by Centurion on the Closing Date. 

“Initial Cut-Off Date” shall mean the close of business on April 16, 2004. 

“Insolvency Event” shall have the meaning specified in Section 8.02. 

  
 6 

 “Insurance Proceeds” shall mean any amounts received pursuant to
the payment of benefits under any credit life insurance policies, credit disability insurance policies or unemployment insurance policies covering any Obligor with respect to Receivables under such Obligor’s Account. 

“Issuer Rate Fees” shall mean all issuer rate fees payable to Centurion in connection with cardholder charges
for goods or services with respect to the Receivables, the amount of which shall be calculated as provided in Subsection 5.01(f). 

“Late Fees” shall have the meaning specified in the Account Agreement applicable to each Account for late
fees or similar terms. 
 “Lien” shall mean any security interest, mortgage, deed of trust, pledge,
hypothecation, assignment, deposit arrangement, equity interest, encumbrance, lien (statutory or other), preference, participation interest, priority or other security agreement or preferential arrangement of any kind or nature whatsoever, including
any conditional sale or other title retention agreement, or any financing lease having substantially the same economic effect as any of the foregoing; provided, however, that the lien created in favor of the Trustee under the Original
Pooling Agreement shall not be deemed to constitute a Lien. 
 “Monthly Period” shall mean, with respect to
each Distribution Date, the calendar month immediately preceding such Distribution Date. 
 “New Account”
shall mean each credit or charge account or line of credit (if, with respect to the line of credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment
of such balance) and the line of credit contains an indicator as described in Subsection 2.01(c)) established pursuant to an Account Agreement between Centurion and any Person, which account or line of credit is designated pursuant to Subsection
2.02(b) to be included as an Account and is identified on an Account Schedule delivered pursuant to Sections 2.01 and 2.02. 

“Obligor” shall mean, with respect to any Account, the Person or Persons obligated to make payments with
respect to such Account, including any guarantor thereof but excluding any merchant. 
 “Officer’s
Certificate” shall mean a certificate delivered to RFC III signed by any Vice President or more senior officer of Centurion. 

“Original Agreement” shall have the meaning specified in the recitals hereto. 

“Original Pooling Agreement” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Overlimit Fees” shall have the meaning specified in the Account Agreement applicable to each Account for
overlimit fees or similar terms if such fees are provided for with respect to such Account. 

  
 7 

 “Pay-Out Event” shall have the meaning specified in the Pooling
and Servicing Agreement. 
 “Periodic Rate Finance Charges” shall have the meaning specified in the Account
Agreement applicable to each Account for finance charges (due to periodic rate) or any similar term. 

“Person” shall mean any person or entity, including any individual, corporation, limited liability company,
partnership, limited liability partnership, limited partnership, joint venture, association, joint-stock company, trust, unincorporated organization, Governmental Authority, or other entity of any nature. 

“Pooling and Servicing Agreement” shall mean the Third Amended and Restated Pooling and Servicing Agreement,
dated as of [            ], 2015, among RFC III and American Express Receivables Financing Corporation IV LLC, as Transferors, American Express Travel Related Services Company, Inc., as
Servicer, and The Bank of New York Mellon, as Trustee, as amended and supplemented from time to time. 
 “Portfolio
Yield” shall have the meaning specified in the Pooling and Servicing Agreement. 
 “Principal
Receivables” shall mean all Receivables other than Finance Charge Receivables. In calculating the aggregate amount of Principal Receivables on any day, the amount of Principal Receivables shall be reduced by the aggregate amount of credit
balances in the Accounts on such day. 
 “Proceeding” shall mean any suit in equity, action at law or other
judicial or administrative proceeding. 
 “Purchase Price” shall have the meaning specified in Subsection
3.01(a). 
 “Purchase Price Adjustment” shall have the meaning specified in Section 3.02. 

“Purchase Price Payment Date” shall have the meaning specified in Subsection 3.01(a). 

“Purchased Assets” shall have the meaning specified in Subsection 2.01(a). 

“Rating Agency” shall mean the nationally-recognized statistical rating agency or agencies, if any, selected
by RFC III and the other Transferors to rate any securities issued by the Trust. 
 “Receivables” shall
mean all amounts shown on Centurion’s records as amounts payable by Obligors on any Account from time to time, including amounts payable for Principal Receivables and Finance Charge Receivables. 

“Recoveries” shall mean all amounts received with respect to Receivables which have previously been
charged-off. 

  
 8 

 “Reinvestment Event” shall have the meaning specified in the
Pooling and Servicing Agreement. 
 “Related Account” shall mean an Account with respect to which a new
account number has been issued by Centurion (a)(i) resulting from a lost or stolen credit or charge card relating to such Account (if such Account is a credit or charge card account) or (ii) under circumstances not requiring the standard
application and credit evaluation procedures under the Credit Guidelines applicable to such Account, and (b) that can be traced or identified by reference to or by way of the Account Schedule and the computer or other records of Centurion. 

“Removed Account” shall mean any Account as to which Centurion has received notice from the Servicer that
such Account is a “Removed Account” as defined in the Pooling and Servicing Agreement. 
 “Requesting
Party” shall have the meaning specified in the Pooling and Servicing Agreement. 
 “Requirements of
Law” shall mean any law, treaty, rule or regulation, or determination of an arbitrator or Governmental Authority, whether federal, state or local (including, without limitation, usury laws, the Federal Truth in Lending Act and Regulation B
and Regulation Z of the Board of Governors of the Federal Reserve System), and, when used with respect to any Person, the certificate of incorporation and by-laws or other organizational or governing documents of such Person. 

“RFC III” shall have the meaning specified in the initial paragraph of this Agreement. 

“Servicer” shall mean the entity acting as Servicer under the Pooling and Servicing Agreement. 

“Stop Date” shall have the meaning specified in Subsection 2.03(a). 

“Supplemental Conveyance” shall have the meaning specified in Subsection 2.02(b)(v). 

“Transfer Date” shall have the meaning specified in the Pooling and Servicing Agreement. 

“Transfer Restriction Event” shall mean that Centurion is unable for any reason to transfer Receivables to
RFC III in accordance with the provisions of this Agreement, including by reason of the application of the provisions in Section 8.02 or any order of any Governmental Authority. 

“Transferors” shall mean the entities acting as Transferors under the Pooling and Servicing Agreement. 

“Transferred Account” shall mean each credit or charge account or line of credit (if, with respect to the
line of credit, the full receivable balance is not due upon receipt of a 

  
 9 

 
monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and the line of credit contains an indicator as described in Subsection 2.01(c)) into
which an Account shall be transferred provided that (a) such transfer was made in accordance with the Credit Guidelines and (b) such account or line of credit can be traced or identified by reference to or by way of the Account Schedule
and the computer or other records of Centurion. 
 “Trust” shall mean the American Express Credit Account
Master Trust, heretofore created and continued by the Pooling and Servicing Agreement. 
 “Trustee” shall
mean the Trustee under the Pooling and Servicing Agreement. 
 “UCC” shall mean the Uniform Commercial Code
as in effect in the applicable jurisdiction. 
 Section 1.02. Other Definitional Provisions. 

The words “hereof,” “herein,” “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. 
 [END OF ARTICLE I] 

  
 10 

 ARTICLE II 

PURCHASE AND CONVEYANCE OF RECEIVABLES 

Section 2.01. Purchase. 

(a) In consideration of the payment of the Purchase Price as provided herein, Centurion does hereby sell, transfer, assign,
set over and otherwise convey to RFC III (collectively, the “Conveyance”), without recourse except as provided herein, all of its right, title and interest, whether now owned or hereafter acquired, in, to and under the
Receivables existing at the close of business on the Initial Cut-Off Date, in the case of Receivables arising in the Initial Accounts (including Related Accounts and Transferred Accounts with respect to such Initial Accounts), and at the close of
business on the related Addition Cut-Off Date, in the case of Receivables arising in the Additional Accounts (including Related Accounts and Transferred Accounts with respect to such Additional Accounts), and in each case thereafter created from
time to time in such Accounts, all Insurance Proceeds, Issuer Rate Fees and Recoveries allocable to such Receivables, all monies due or to become due and all amounts received or receivable with respect thereto, all Collections with respect thereto,
and all proceeds (including “proceeds” as defined in the UCC) thereof (collectively, the “Purchased Assets”). The Receivables existing in the Initial Accounts at the close of business on the Initial Cut-Off Date and
thereafter arising in the Initial Accounts on or prior to the Closing Date, and the related Purchased Assets, shall be sold by Centurion and purchased by RFC III on the Closing Date. Receivables arising after the Closing Date in the Initial Accounts
and the related Purchased Assets shall be sold by Centurion and purchased by RFC III on the date such Receivables arise. The Receivables existing in Additional Accounts at the close of business on the related Addition Cut-Off Date and thereafter
arising in such Additional Accounts on or prior to the related Addition Date, and the related Purchased Assets, shall be sold by Centurion and purchased by RFC III on the related Addition Date. Receivables arising after such Addition Date in such
Additional Accounts and the related Purchased Assets shall be sold by Centurion and purchased by RFC III on the date such Receivables arise. 

(b) Centurion shall (i) record and file, at its own expense, any financing statements (and amendments with respect to
such financing statements when applicable) with respect to the Purchased Assets meeting the requirements of applicable state law in such manner and in such jurisdictions as are necessary to perfect, and maintain perfection of, the Conveyance of such
Purchased Assets from Centurion to RFC III, (ii) cause such financing statements and amendments to name Centurion, as seller, and RFC III, as purchaser, of the Purchased Assets and (iii) deliver a file-stamped copy of such financing
statements or amendments or other evidence of such filings to RFC III as soon as is practicable after filing. 
 (c)
Centurion shall, at its own expense, (i) on or prior to (x) the Closing Date, in the case of Initial Accounts, and (y) the applicable Addition Date, in the case of Additional Accounts, indicate in its books and records (including its
computer files) that Receivables created in connection with such Accounts and the related Purchased Assets have been sold to RFC III in accordance with this Agreement and have been conveyed by RFC III to the Trustee pursuant to the Pooling and
Servicing Agreement, and (ii) on or prior to (x) the Closing Date, in the case of Initial Accounts, and (y) the applicable Addition Date, in the case of Additional 

  
 11 

 
Accounts, deliver to RFC III an Account Schedule (provided, however, that such Account Schedule shall be provided in respect of New Accounts on the Distribution Date immediately
succeeding the related Monthly Period during which their respective Addition Dates occur) containing a true and complete list of all such Accounts. Centurion shall not alter the indication referenced in clause (i) of this paragraph with respect
to any Account during the term of this Agreement unless and until such Account is no longer an Account or Centurion has taken such action as is necessary or advisable to cause the interest of RFC III in the Purchased Assets to continue to be
perfected and of first priority. The Account Schedules, as supplemented and amended, collectively shall be marked as Schedule 1 to this Agreement, shall be incorporated into and made a part of this Agreement and shall be updated by
Centurion on each Addition Date (or with respect to New Accounts, on the Distribution Date immediately succeeding the related Monthly Period during which their respective Addition Dates occur), but not later than on a semi-annual basis to include
any new Related Accounts and Transferred Accounts. 
 (d) The parties hereto intend that the conveyance of Centurion’s
right, title and interest in and to the Purchased Assets shall constitute an absolute sale, conveying good title free and clear of any liens, claims, encumbrances or rights of others, from Centurion to RFC III. It is the intention of the parties
hereto that the arrangements with respect to the Purchased Assets shall constitute a purchase and sale of such Purchased Assets and not a loan, including for accounting purposes. In the event, however, that it were to be determined that the
transactions evidenced hereby constitute a loan and not a purchase and sale, it is the intention of the parties hereto that this Agreement shall constitute a security agreement under applicable law, and that Centurion shall be deemed to have
granted, and Centurion does hereby grant, to RFC III a first priority perfected security interest in all of Centurion’s right, title and interest, whether now owned or hereafter acquired, in, to and under the Purchased Assets to secure the
obligations of Centurion hereunder. 
 (e) To the extent that Centurion retains any interest in the Purchased Assets,
Centurion hereby grants to the Trustee a security interest in all of Centurion’s right, title and interest, whether now owned or hereafter acquired, in, to and under the Purchased Assets, to secure the performance of all of the obligations of
Centurion hereunder and under the Pooling and Servicing Agreement. With respect to such security interest and such collateral, the Trustee shall have all of the rights that it has under the Pooling and Servicing Agreement. The Trustee shall also
have all of the rights of a secured creditor under the UCC. 
 (f) Centurion hereby acknowledges and agrees to perform its
obligations under Section 2.01 of the Pooling and Servicing Agreement. 
 (g) Each Account will continue to be owned by
Centurion and is not a Purchased Asset. 
 Section 2.02. Addition of Accounts. 

(a) If (i) RFC III is required, pursuant to Section 2.09(a) of the Pooling and Servicing Agreement, to
designate additional accounts to the Trust, or (ii) RFC III elects, pursuant to Section 2.09(b) of the Pooling and Servicing Agreement, to designate additional accounts to the Trust, then in either case RFC III, at its option, may
give written notice thereof to 

  
 12 

 
Centurion; provided, however, that such notice shall be provided on or before the eighth (8th) Business Day immediately preceding the related addition date. Upon receipt of
such notice and on or prior to such addition date, Centurion shall designate sufficient Eligible Accounts as Aggregate Addition Accounts and shall sell to RFC III the Purchased Assets related to such Aggregate Addition Accounts. In addition, at its
option and with the consent of RFC III, Centurion may designate Eligible Accounts as Aggregate Addition Accounts and sell to RFC III the Purchased Assets related to such Aggregate Addition Accounts. 

(b) At its option and with the consent of RFC III, Centurion may designate Eligible Accounts as New Accounts and sell to RFC
III the Purchased Assets related to such New Accounts. Centurion or RFC III, each at its option and by written notice to the other party at least ten (10) days in advance, may elect at any time to terminate the inclusion of new accounts which
would otherwise be New Accounts as of any Business Day, to suspend any such inclusion as of any Business Day, or to resume any such inclusion as of any Business Day. 

(c) On the Addition Date with respect to any designation of Additional Accounts, such Additional Accounts shall become
Accounts, and RFC III shall purchase Centurion’s right, title and interest in, to and under the Receivables in such Additional Accounts and the related Purchased Assets as provided in Section 2.01, subject to the satisfaction of the
following conditions on such Addition Date: 
 (i) as of the Addition Selection Date, such Additional
Accounts shall be Eligible Accounts; 
 (ii) Centurion shall have delivered to RFC III copies of UCC
financing statements covering such Additional Accounts, if necessary to perfect RFC III’s interest in the Receivables arising therein and the related Purchased Assets; 

(iii) Centurion shall have delivered to RFC III all Collections with respect to such Additional Accounts since
the Addition Cut-Off Date; 
 (iv) as of each of the Addition Cut-Off Date and the Addition Date, no
Insolvency Event with respect to Centurion shall have occurred nor shall the sale of the Receivables arising in the Additional Accounts and the related Purchased Assets to RFC III have been made in contemplation of the occurrence thereof; 

(v) in the case of Aggregate Addition Accounts, such addition will not have a material adverse effect on RFC
III; 
 (vi) Centurion shall have delivered to RFC III an Officer’s Certificate of Centurion, dated the
Addition Date, confirming, to the extent applicable and in Centurion’s reasonable belief, the items set forth in clauses (i) through (v) above; 

(vii) in the case of New Accounts, such addition will not cause a Pay-Out Event or a Reinvestment Event under
the Pooling and Servicing Agreement; 
 (viii) Centurion shall have indicated in its computer files that
Receivables created in connection with such Additional Accounts and the related Purchased Assets 

  
 13 

 
have been sold to RFC III and, in the case of Aggregate Addition Accounts, shall have delivered to RFC III the Account Schedule with respect to such Aggregate Addition Accounts; and 

(ix) Centurion and RFC III shall have entered into a duly executed, written assignment, substantially in the
form of Exhibit A (the “Supplemental Conveyance”). 
 Section 2.03.
Removal and Deletion of Accounts. 
 (a) If an Account becomes a Removed Account, then Centurion shall stop selling
to RFC III Principal Receivables arising in such Removed Account effective on the Business Day (the “Stop Date”) after the date such Account becomes a Removed Account. Notwithstanding the cessation of the sale to RFC III of
additional Principal Receivables arising in such Removed Account, Principal Receivables sold to RFC III prior to the Stop Date, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect
of such Principal Receivables, Collections in respect of such Finance Charge Receivables, and Issuer Rate Fees allocable to the foregoing shall continue to be property of RFC III available for transfer by RFC III to the Trustee pursuant to the
Pooling and Servicing Agreement. To the extent that it is not clear to Centurion whether collections relate to a Receivable that was sold to RFC III or to a receivable that Centurion did not sell to RFC III, Centurion shall allocate payments on each
such Removed Account with respect to the principal balance of such Removed Account first to the oldest principal balance of such Removed Account. 

(b) On and after the Stop Date for a Removed Account, Centurion may mark its books and records to indicate that such Account
is a Removed Account, but Centurion shall not (i) alter the indication referenced in clause (i) of Subsection 2.01(c) with respect to such Removed Account unless and until such Account becomes a Deleted Account or Centurion has taken such
action as is necessary or advisable to cause the interest of RFC III in the Purchased Assets to continue to be perfected and of first priority, or (ii) delete such Removed Account from Schedule 1 hereto or any Account Schedule.

 (c) Once a Removed Account becomes a Deleted Account, Centurion shall promptly delete such Deleted Account from
Schedule 1 hereto and shall indicate in its computer files that such Deleted Account is no longer an Account. 
 [END OF
ARTICLE II] 

  
 14 

 ARTICLE III 

CONSIDERATION AND PAYMENT 

Section 3.01. Purchase Price. 

(a) The “Purchase Price” for the Receivables in the Initial Accounts existing at the close of business
on the Initial Cut-Off Date, and the related Purchased Assets, that are conveyed to RFC III under this Agreement shall be payable on April 19, 2004, in an amount equal to the fair market value of such Receivables and the related Purchased
Assets as mutually agreed upon by Centurion and RFC III. This computation of initial purchase price shall assume no reinvestment in new Receivables. The Purchase Price for the Receivables (including Receivables in Additional Accounts) and the
related Purchased Assets conveyed to RFC III under this Agreement which come into existence after the Initial Cut-Off Date (i) shall be payable on a date (the “Purchase Price Payment Date”) mutually agreed to by
Centurion and RFC III, but no later than the 15th calendar day (or, if such day is not a Business Day, the next following Business Day) following the calendar month in which such Receivables and the related Purchased Assets are conveyed by Centurion
to RFC III and (ii) shall be an amount equal to 100% of the aggregate balance of the Principal Receivables so conveyed, adjusted to reflect such factors, if any, as Centurion and RFC III mutually agree will result in a Purchase Price determined
to be the fair market value of such Principal Receivables and the related Purchased Assets. Centurion hereby acknowledges, and agrees to perform in accordance with, Section 4.03(c) of the Pooling and Servicing Agreement and the related
instructions of RFC III. 
 (b) Notwithstanding any other provision of this Agreement, Centurion shall not be obligated to
continue to sell Receivables or other Purchased Assets to RFC III to the extent that Centurion is not paid the Purchase Price therefor as provided herein. 

Section 3.02. Adjustments to Purchase Price. The Purchase Price shall be reduced on the Purchase Price Payment
Date (a “Purchase Price Adjustment”) with respect to any Receivable previously conveyed to RFC III by Centurion which is reduced by Centurion or the Servicer because of a rebate, refund, or billing error to an Obligor, other
than by reason of a Servicer error. The amount of such reduction shall equal the reduction in the principal balance of such Receivable resulting from the occurrence of such event. In the event that a reduction pursuant to this Section 3.02
causes the Purchase Price to be a negative number, Centurion agrees that, on the Purchase Price Payment Date, Centurion shall pay or cause to be paid to RFC III an amount equal to the amount by which the Purchase Price Adjustment exceeds the
unadjusted Purchase Price; provided, however, that if the reduction relating to such Purchase Price Adjustment also gives rise to an obligation on the part of RFC III as Transferor to make a deposit in the Special Funding Account
pursuant to Section 3.09 of the Pooling and Servicing Agreement, then Centurion and RFC III hereby agree that the date that RFC III is required to make such deposit pursuant to Section 3.09 of the Pooling and Servicing Agreement shall be a
Purchase Price Payment Date. 
 Section 3.03. Use of Name, Logo and Marks. Centurion does hereby grant to RFC
III a non-exclusive license to use the name “American Express Centurion Bank” and all related identifying trade or service marks, signs, symbols, logos, designs, servicing software, 

  
 15 

 
customer lists and other intangibles in connection with the servicing of the Receivables purchased hereunder. The license granted shall be co-extensive with the term of the Agreement. 

[END OF ARTICLE III] 

  
 16 

 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 

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

(a) Representations and Warranties. Centurion hereby represents and warrants to, and agrees with, RFC III as of the
Closing Date and on each Addition Date, that: 
 (i) Organization and Good Standing. Centurion is a
Utah industrial loan company validly existing under the laws of the State of Utah, and has, in all material respects, full power and authority to own its properties and conduct its business as presently owned or conducted, and to execute, deliver
and perform its obligations under this Agreement. 
 (ii) Due Qualification. Centurion is duly
qualified to do business and is in good standing as a foreign corporation or other entity 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 this Agreement or the transactions contemplated hereby or on the ability of Centurion to perform its obligations under this Agreement. 

(iii) Due Authorization. The execution and delivery by Centurion of this Agreement and any other
document or instrument delivered by Centurion pursuant hereto, including any Supplemental Conveyance, to which Centurion is a party and the consummation by Centurion of the transactions provided for in this Agreement and any such Supplemental
Conveyance, have been duly authorized by Centurion by all necessary action on the part of Centurion. 
 (iv)
No Conflict or Violation. The execution and delivery by Centurion of this Agreement, the performance by Centurion of the transactions contemplated by this Agreement and the fulfillment by Centurion of the terms of this Agreement applicable to
Centurion, will not conflict with or violate any Requirements of Law applicable to Centurion or conflict with, result in any breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a
material default under, any indenture, contract, agreement, mortgage, deed of trust or other instrument to which Centurion is a party or by which it or its properties are bound. 

(v) No Proceedings. There are no Proceedings or investigations pending or, to the best knowledge of
Centurion, threatened, against Centurion before any Governmental Authority (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement,
(iii) seeking any determination or ruling that, in the reasonable judgment of Centurion, would materially and adversely affect the performance by Centurion of its obligations under this Agreement or (iv) seeking any determination or ruling
that, in the reasonable 

  
 17 

 
judgment of Centurion, would materially and adversely affect the validity or enforceability of this Agreement. 

(vi) All Consents. All authorizations, consents, orders or approvals of or registrations or declarations
with any Governmental Authority required to be obtained, effected or given by Centurion in connection with the execution and delivery by Centurion of this Agreement and the performance by Centurion of the transactions contemplated by this Agreement
have been duly obtained, effected or given and are in full force and effect. 
 (b) Notice of Breach. The
representations and warranties set forth in this Section 4.01 shall survive the sale of the Purchased Assets to RFC III. Upon discovery by Centurion or RFC III of a breach of any of the foregoing representations and warranties, the party
discovering such breach shall give written notice to the other party and the Trustee within three (3) Business Days following such discovery. 

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

(a) Representations and Warranties. Centurion hereby represents and warrants to RFC III as of the Closing Date with
respect to the Initial Accounts (and the Receivables arising therein), and as of the related Addition Date with respect to Additional Accounts (and the Receivables arising therein), that: 

(i) this Agreement and, in the case of Additional Accounts, the related Supplemental Conveyance, each
constitutes a legal, valid and binding obligation of Centurion enforceable against Centurion in accordance with its terms, except as such enforceability may be limited by applicable Debtor Relief Laws or general principles of equity; 

(ii) as of the Initial Cut-Off Date with respect to the Initial Accounts (and the Receivables arising
thereunder), as of the related Addition Cut-Off Date with respect to Aggregate Addition Accounts and as of the Distribution Date immediately succeeding the Monthly Period in which New Accounts were designated with respect to such New Accounts,
Schedule 1 to this Agreement, as supplemented to such date, is an accurate and complete listing in all material respects of all the Accounts as of such applicable date, and the information contained therein with respect to the identity
of such Accounts and the Receivables existing thereunder is true and correct in all material respects as of such applicable date; 

(iii) each Receivable conveyed to RFC III has been conveyed to RFC III free and clear of any Lien (other than
any Lien for municipal or other local taxes of Centurion if such taxes are not then due and payable or if Centurion is then contesting the validity thereof in good faith by appropriate proceedings and has set aside on its books adequate reserves
with respect thereto); 

  
 18 

 (iv) all authorizations, consents, orders or approvals of or
registrations or declarations with any Governmental Authority required to be obtained, effected or given by Centurion in connection with the conveyance of Receivables to RFC III have been duly obtained, effected or given and are in full force and
effect; 
 (v) this Agreement and, in the case of Additional Accounts, the related Supplemental Conveyance,
constitutes a valid sale to RFC III of all right, title and interest of Centurion in the Purchased Assets, and such sale is perfected under the UCC; 

(vi) on the selection date related to its date of designation as an “Account” under the Original
Pooling Agreement, with respect to each Initial Account, and on the applicable Addition Selection Date, with respect to each Additional Account, each such Account is an Eligible Account; 

(vii) on the selection date related to its date of designation as an Account, with respect to each Initial
Account, and on the applicable Addition Selection Date, with respect to each Additional Account, each Receivable contained in such Account on such applicable date and sold to RFC III by Centurion is an Eligible Receivable; 

(viii) as of the date of the creation of any new Receivable sold to RFC III by Centurion, such Receivable is an
Eligible Receivable; and 
 (ix) no selection procedures believed by Centurion to be materially adverse to
the interests of RFC III or its transferees have been used in selecting such Accounts. 
 (b) Notice of Breach. The
representations and warranties set forth in this Section 4.02 shall survive the sale of the Purchased Assets to RFC III. Upon discovery by either Centurion or RFC III of a breach of any of the representations and warranties set forth in this
Section 4.02, the party discovering such breach shall give written notice to the other party and the Trustee within three (3) Business Days following such discovery. Centurion hereby acknowledges that RFC III intends to rely on the
representations hereunder in connection with representations made by RFC III to secured parties, assignees or subsequent transferees, including transfers made by RFC III to the Trustee pursuant to the Pooling and Servicing Agreement, and Centurion
hereby consents to such reliance. 
 Section 4.03. Representations and Warranties of RFC III. As of the Closing
Date and each Addition Date, RFC III hereby represents and warrants to, and agrees with, Centurion that: 
 (a)
Organization and Good Standing. RFC III is a limited liability company duly formed and validly existing under the laws of the State of Delaware, and has, in all material respects, full power and authority to own its properties and conduct its
business as such properties are presently owned and such business is presently conducted, and to execute, deliver and perform its obligations under this Agreement. 

(b) Due Authorization. The execution and delivery by RFC III of this Agreement and any other document or instrument
delivered pursuant hereto, including any Supplemental Conveyance, to which RFC III is a party, and the consummation by RFC III of the 

  
 19 

 
transactions provided for in this Agreement and any such Supplemental Conveyance, have been duly authorized by RFC III by all necessary company action on the part of RFC III. 

(c) No Conflict or Violation. The execution and delivery by RFC III of this Agreement, the performance by RFC III of
the transactions contemplated by this Agreement and the fulfillment by RFC III of the terms of this Agreement applicable to RFC III, will not conflict with or violate any Requirements of Law applicable to RFC III or conflict with, result in any
breach of any of the material terms and provisions of, or constitute (with or without notice or lapse of time or both) a material default under, any indenture, contract, agreement, mortgage, deed of trust or other instrument to which RFC III is a
party or by which it or any of its properties are bound. 
 (d) No Proceedings. There are no Proceedings or
investigations pending or, to the best knowledge of RFC III, threatened, against RFC III, before any Governmental Authority (i) asserting the invalidity of this Agreement, (ii) seeking to prevent the consummation of any of the transactions
contemplated by this Agreement, (iii) seeking any determination or ruling that, in the reasonable judgment of RFC III, would materially and adversely affect the performance by RFC III of its obligations under this Agreement or (iv) seeking
any determination or ruling that, in the reasonable judgment of RFC III, would materially and adversely affect the validity or enforceability of this Agreement. 

(e) All Consents. All authorizations, consents, orders or approvals of or registrations or declarations with any
Governmental Authority required to be obtained, effected or given by RFC III in connection with the execution and delivery by RFC III of this Agreement and the performance by RFC III of the transactions contemplated by this Agreement have been duly
obtained, effected or given and are in full force and effect. 
 The representations and warranties set forth in this
Section 4.03 shall survive the sale of the Purchased Assets to RFC III. Upon discovery by Centurion or RFC III of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give written notice to
the other party and the Trustee within three (3) Business Days following such discovery. 
 [END OF ARTICLE IV] 

  
 20 

 ARTICLE V 

COVENANTS 

Section 5.01. Covenants of Centurion. Centurion hereby covenants and agrees with RFC III as follows: 

(a) Receivables Not To Be Evidenced by Instruments. Except in connection with its enforcement or collection of an
Account, Centurion will take no action to cause any Receivable sold to RFC III hereunder to be evidenced by any instrument (as defined in the UCC), and if any Receivable is so evidenced as a result of any action by Centurion, it shall be deemed to
be a Receivable described in Subsection 6.01(a) and shall be reassigned to Centurion in accordance with Subsection 6.01(b). 

(b) Security Interests. Except for the conveyances hereunder, Centurion will not sell, pledge, assign or transfer to
any other Person, or take any other action inconsistent with RFC III’s ownership of, the Purchased Assets, or grant, create, incur, assume or suffer to exist any Lien arising through or under Centurion on any Purchased Asset or any interest
therein (other than any Lien for municipal or other local taxes of Centurion if such taxes are not then due and payable or if Centurion is then contesting the validity thereof in good faith by appropriate proceedings and has set aside on its books
adequate reserves with respect thereto), and Centurion shall not claim any ownership interest in any Purchased Asset and shall defend the right, title and interest of RFC III in, to and under the Purchased Assets against all claims of third parties
claiming through or under Centurion. 
 (c) Account Allocations. If a Transfer Restriction Event occurs, Centurion
agrees (except as prohibited by any such order or any Requirement of Law) to allocate and pay to RFC III, after the date of such Transfer Restriction Event, all Collections with respect to Principal Receivables previously sold to RFC III. To the
extent that it is not clear to Centurion whether collections relate to a Receivable that was sold to RFC III or to a receivable that Centurion is unable to sell to RFC III, Centurion agrees that it shall allocate payments on each Account with
respect to the principal balance of such Account first to the oldest principal balance of such Account. Notwithstanding any cessation of the sale to RFC III of additional Principal Receivables, Principal Receivables sold to RFC III prior to the
occurrence of the Transfer Restriction Event, Collections in respect of such Principal Receivables, Finance Charge Receivables whenever created that accrue in respect of such Principal Receivables, Collections in respect of such Finance Charge
Receivables, and Issuer Rate Fees allocable to the foregoing shall continue to be property of RFC III available for transfer by RFC III to the Trustee pursuant to the Pooling and Servicing Agreement. 

(d) Delivery of Collections. In the event that Centurion receives Collections or any other amounts in respect of the
Purchased Assets sold to RFC III hereunder, Centurion agrees to pay to RFC III (or to the Servicer or the Trustee if RFC III so directs) all such Collections and other amounts promptly after receipt thereof. 

  
 21 

 (e) Notice of Liens. Centurion shall notify RFC III promptly after
becoming aware of any Lien arising through or under Centurion on any Purchased Asset other than the conveyances hereunder. 

(f) Issuer Rate Fees. On each Distribution Date, Centurion shall pay to RFC III, in immediately available funds, the
amount of Issuer Rate Fees allocable to the Receivables. Such amount of Issuer Rate Fees shall be equal to the sum of (i) the product of (A) the rate at which issuer rate fees accrued to Centurion during the second preceding Monthly Period
on credit accounts owned by Centurion, multiplied by (B) a fraction, (I) the numerator of which is the aggregate amount of cardholder charges in all credit accounts owned by Centurion, excluding balance transfer transactions, purchases
made by convenience checks, cash advances, certain ineligible products and services offered by American Express Travel Related Services Company, Inc. or any affiliate or subsidiary thereof, and all other transactions on which issuer rate fees did
not accrue to Centurion, in each case with respect to such Monthly Period, and (II) the denominator of which is the aggregate amount of cardholder charges in all credit accounts owned by Centurion with respect to such Monthly Period, multiplied by
(C) new Principal Receivables that arose during such Monthly Period in the Accounts that constitute credit accounts, plus (ii) the product of (A) the rate at which issuer rate fees accrued to Centurion during the second preceding
Monthly Period on charge accounts or lines of credit owned by Centurion, multiplied by (B) a fraction, (I) the numerator of which is the aggregate amount of obligor charges on all charge accounts or lines of credit owned by Centurion,
excluding balance transfer transactions, purchases made by convenience checks, cash advances, certain ineligible products and services offered by American Express Travel Related Services Company, Inc. or any affiliate or subsidiary thereof, and all
other transactions on which issuer rate fees did not accrue to Centurion, in each case with respect to such Monthly Period, and (II) the denominator of which is the aggregate amount of obligor charges on all charge accounts or lines of credit owned
by Centurion with respect to such Monthly Period, multiplied by (C) new Principal Receivables that arose during such Monthly Period in the Accounts that constitute charge accounts or lines of credit. 

(g) Documentation of Transfer. Centurion shall timely file in all appropriate filing offices the documents which are
necessary or advisable to perfect and maintain the perfection of the sale of the Purchased Assets to RFC III. 
 (h)
Periodic Rate Finance Charges. Except (i) as otherwise required by any Requirements of Law or (ii) as is deemed by Centurion to be necessary in order for it to maintain its credit or charge business or a program operated by such
credit or charge business on a competitive basis based on a good faith assessment by it of the nature of the competition with respect to such credit or charge business or such program, Centurion shall not at any time reduce the annual percentage
rate of the Periodic Rate Finance Charges assessed on the Receivables or take any other action with respect to any of the Accounts if, as a result of any such action, Centurion’s reasonable expectation is that such action will cause a Pay-Out
Event or a Reinvestment Event to occur under the Pooling and Servicing Agreement based on the insufficiency of Portfolio Yield or any similar test. In addition, except as otherwise required by any Requirements of Law, Centurion shall not at any time
reduce the annual percentage rate of the Periodic Rate Finance Charges assessed on the Receivables or take any other action with respect to any of the Accounts if, as a result of any such action, Centurion’s reasonable

  
 22 

 
expectation is that such action will cause the Portfolio Yield under the Pooling and Servicing Agreement to be less than the then-current highest Average Rate for any Group. 

(i) Account Agreements and Guidelines. Subject to compliance with all Requirements of Law and paragraph (h) above,
Centurion may change the terms and provisions of the Account Agreements or the Credit Guidelines applicable to the Accounts in any respect (including the calculation of the amount or the timing of charge-offs and the Periodic Rate Finance Charges to
be assessed thereon). Notwithstanding the above, unless required by Requirements of Law or as permitted by paragraph (h) above, Centurion will not take any action with respect to such Account Agreements or such Credit Guidelines which, at the
time of such action, Centurion reasonably believes will have a material adverse effect on RFC III. 
 (j) Name and Type
and Jurisdiction of Organization. Centurion shall not change its name or its type or jurisdiction of organization without previously having delivered to RFC III an opinion of counsel to the effect that all actions have been taken, and all
filings have been made, as are necessary to continue and maintain the first-priority perfected ownership interest of RFC III in the Purchased Assets. 

(k) Annual Opinion. On or before March 31st of each calendar year, commencing March 31, 2016, Centurion shall
deliver to RFC III, with a copy to the Trustee, an opinion of counsel to the effect that (i) no further action with respect to the recording or filing of any financing statements, any amendments to financing statements, or any other documents
or filings is then necessary to perfect the ownership interest of RFC III in the Purchased Assets, and (ii) no further action with respect to the recording or filing of any financing statements, any amendments to financing statements, or any
other documents or filings will be necessary prior to March 31st of the next calendar year to perfect the ownership interest of RFC III in the Purchased Assets or stating what such filings will be necessary prior to such March 31st. 

(l) Asset Representations Review. Centurion shall (i) cooperate with the Asset Representations Reviewer in
creating and, from time to time, reviewing procedures for an Asset Representations Review, and (ii) cooperate with the Servicer to provide the Asset Representations Reviewer with reasonable access to information upon the initiation of an Asset
Representations Review pursuant to Section 4.08(a) of the Pooling and Servicing Agreement. Following the completion of an Asset Representations Review and the delivery of the related report by the Asset Representations Reviewer, RFC III will
provide a copy of such report to Centurion, and Centurion shall determine whether any noncompliance with the Covered Representations constitutes a breach of any of such Covered Representations. 

(m) Asset Representations Reviewer Fees and Expenses. At the direction of RFC III, Centurion shall pay, or shall
reimburse RFC III for the payment of, the fees and expenses payable to the Asset Representations Reviewer pursuant to the Asset Representations Review Agreement. 

(n) Resolution of Repurchase Disputes. Centurion shall cooperate with the Requesting Party in connection with any
dispute resolution proceeding commenced pursuant to Section 4.09 of the Pooling and Servicing Agreement and shall comply with any obligations of the “Representing Party” applicable to it thereunder. RFC III hereby agrees to provide
Centurion 

  
 23 

 
with the opportunity to exercise any rights of RFC III pursuant to the Pooling and Servicing Agreement with respect to any dispute resolution proceeding commenced pursuant to Section 4.09 of
the Pooling and Servicing Agreement to the extent the related dispute relates to the representations and warranties of Centurion contained in Section 4.02. 

[END OF ARTICLE V] 

  
 24 

 ARTICLE VI 

REPURCHASE OBLIGATION 

Section 6.01. Reassignment of Ineligible Receivables. 

(a) In the event any representation or warranty under Subsection 4.02(a)(ii), (iii), (iv), (vi), (vii) or (viii) is
not true and correct in any material respect as of the date specified therein with respect to any Receivable or the related Account and as a result of such breach RFC III is required under Subsection 2.05(a) of the Pooling and Servicing Agreement to
accept reassignment of such Receivables previously sold by Centurion to RFC III pursuant to this Agreement, Centurion shall accept reassignment of such Receivables on the terms and conditions set forth in Subsection 6.01(b). 

(b) Centurion shall accept reassignment of any Receivables described in Subsection 6.01(a) from RFC III on the date on which
such Receivables are reassigned to RFC III pursuant to Subsection 2.05(a) of the Pooling and Servicing Agreement, and shall pay for such reassigned Receivables by paying to RFC III in immediately available funds an amount equal to the unpaid balance
of such Receivables. Upon reassignment of such Receivables, RFC III shall automatically and without further action sell, transfer, assign, set-over and otherwise convey to Centurion, without recourse, representation or warranty, all the right, title
and interest of RFC III in and to such Receivables, all Insurance Proceeds, Issuer Rate Fees and Recoveries allocable to such Receivables, all monies due or to become due and all amounts received or receivable with respect thereto, all Collections
with respect thereto, and all proceeds (including “proceeds” as defined in the UCC) thereof. Such reassigned Receivables shall be treated by RFC III as collected in full as of the date on which they were reassigned. RFC III shall execute
such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested by Centurion to effect the conveyance of such Receivables and other property pursuant to this Subsection. 

Section 6.02. Reassignment of Other Receivables. 

(a) In the event any representation or warranty set forth in Subsection 4.01(a) or (c) or Subsection 4.02(a)(i) or
(v) is not true and correct in any material respect and as a result of such breach RFC III is required under Section 2.06 of the Pooling and Servicing Agreement to accept a reassignment of all of the Receivables previously sold by
Centurion to RFC III pursuant to this Agreement, Centurion shall accept a reassignment of such Receivables on the terms and conditions set forth in Subsection 6.02(b). 

(b) Centurion shall accept reassignment of any Receivables described in Subsection 6.02(a) from RFC III on the date on which
such Receivables are reassigned to RFC III, and shall pay for such reassigned Receivables by paying to RFC III, not later than 11:00 a.m., New York City time, on the first Transfer Date following the Monthly Period in which such reassignment
obligation arises, an amount equal to the unpaid balance of such Receivables. Upon reassignment of such Receivables, RFC III shall automatically and without further action sell, transfer, assign, set-over and otherwise convey to Centurion, without
recourse, representation or warranty, all the right, title and interest of RFC III in and to such Receivables, 

  
 25 

 
all Insurance Proceeds, Issuer Rate Fees and Recoveries allocable to such Receivables, all monies due or to become due and all amounts received or receivable with respect thereto, all Collections
with respect thereto, and all proceeds (including “proceeds” as defined in the UCC) thereof. Such reassigned Receivables shall be treated by RFC III as collected in full as of the date on which they were reassigned. RFC III shall execute
such documents and instruments of transfer or assignment and take such other actions as shall reasonably be requested by Centurion to effect the conveyance of such Receivables and other property pursuant to this Section. 

[END OF ARTICLE VI] 

  
 26 

 ARTICLE VII 

CONDITIONS PRECEDENT 

Section 7.01. Conditions to RFC III’s Obligations Regarding Initial Receivables. The obligations of RFC III
to purchase the Receivables in the Initial Accounts on the Closing Date shall be subject to the satisfaction of the following conditions: 

(a) all representations and warranties of Centurion contained in this Agreement shall be true and correct on the Closing Date
with the same effect as though such representations and warranties had been made on such date (except that, to the extent any such representation or warranty expressly relates to an earlier date, such representation or warranty was true and correct
on such earlier date); 
 (b) all information concerning the Initial Accounts provided to RFC III shall be true and correct
as of the Initial Cut-Off Date in all material respects; 
 (c) Centurion shall have (i) delivered to RFC III a true
and correct Account Schedule with respect to the Initial Accounts, and (ii) performed all other obligations required to be performed by Centurion on or before the Closing Date by the provisions of this Agreement; 

(d) Centurion shall have recorded and filed, at its expense, any financing statement with respect to the Purchased Assets
meeting the requirements of applicable law in such manner and in such jurisdictions as are necessary to perfect the sale of the Purchased Assets from Centurion to RFC III, and shall deliver a file-stamped copy of such financing statements or other
evidence of such filings to RFC III; and 
 (e) all corporate and legal proceedings and all instruments in connection with
the transactions contemplated by this Agreement shall be satisfactory in form and substance to RFC III, and RFC III shall have received from Centurion copies of all documents (including records of corporate proceedings) relevant to the transactions
herein contemplated as RFC III may reasonably have requested. 
 Section 7.02. Conditions Precedent to
Centurion’s Obligations. The obligations of Centurion to sell the Receivables in the Initial Accounts on the Closing Date shall be subject to the satisfaction of the following conditions: 

(a) all representations and warranties of RFC III contained in this Agreement shall be true and correct on the Closing Date
with the same effect as though such representations and warranties had been made on such date (except that, to the extent any such representation or warranty expressly relates to an earlier date, such representation or warranty was true and correct
on such earlier date); 
 (b) payment or provision for payment of the Purchase Price in accordance with Section 3.01
hereof shall have been made; and 
 (c) all company and legal proceedings and all instruments in connection with the
transactions contemplated by this Agreement shall be satisfactory in form and substance to 

  
 27 

 
Centurion, and Centurion shall have received from RFC III copies of all documents (including records of company proceedings) relevant to the transactions herein contemplated as Centurion may
reasonably have requested. 
 [END OF ARTICLE VII] 

  
 28 

 ARTICLE VIII 

TERM AND PURCHASE TERMINATION 

Section 8.01. Term. This Agreement shall commence as of the date of execution and delivery hereof and shall
continue at least until the earlier of (i) the termination of the Trust as provided in Article XII of the Pooling and Servicing Agreement and (ii) the Pooling and Servicing Agreement being amended for the purpose of replacing RFC III as
Transferor under the Pooling and Servicing Agreement. Thereafter this Agreement may be terminated by the mutual agreement of the parties hereto. 

Section 8.02. Purchase Termination. If (i) Centurion shall file a petition or commence a Proceeding
(A) to take advantage of any bankruptcy, conservatorship, receivership, insolvency, or similar laws or (B) for the appointment of a trustee, conservator, receiver, liquidator, or similar official for or relating to Centurion or all or
substantially all of its property, (ii) Centurion shall consent or fail to object to any such petition filed or Proceeding commenced against or with respect to it or all or substantially all of its property, or any such petition or Proceeding
shall not have been dismissed within sixty (60) days of its filing or commencement, or a court, agency, or other supervisory authority with jurisdiction shall have decreed or ordered relief with respect to any such petition or Proceeding,
(iii) Centurion shall be unable, or shall admit in writing its inability, to pay its debts generally as they become due, (iv) Centurion shall make an assignment for the benefit of its creditors or (v) Centurion shall voluntarily
suspend payment of its obligations (each, an “Insolvency Event”); then Centurion shall immediately cease to sell Principal Receivables to RFC III and shall promptly give notice to RFC III and the Trustee of such Insolvency
Event. Notwithstanding any cessation of the sale to RFC III of additional Principal Receivables, Principal Receivables sold to RFC III prior to the occurrence of such Insolvency Event, Collections in respect of such Principal Receivables, Finance
Charge Receivables whenever created that accrue in respect of such Principal Receivables, Collections in respect of such Finance Charge Receivables, and Issuer Rate Fees allocable to the foregoing shall continue to be property of RFC III available
for transfer by RFC III to the Trustee pursuant to the Pooling and Servicing Agreement. To the extent that it is not clear to Centurion whether collections relate to a Receivable that was sold to RFC III or to a receivable that Centurion has not
sold to RFC III, Centurion agrees that it shall allocate payments on each Account with respect to the principal balance of such Account first to the oldest principal balance of such Account. 

[END OF ARTICLE VIII] 

  
 29 

 ARTICLE IX 

MISCELLANEOUS PROVISIONS 

Section 9.01. Amendment. This Agreement may not be changed orally, but only by an instrument in writing signed by
RFC III and Centurion in accordance with this Section 9.01; provided, however, that no amendment shall be effective unless (x) Centurion and RFC III have given prior notice to the Trustee and each Rating Agency, and
(y) written confirmation has been received by RFC III from each Rating Agency that such amendment will not result in the reduction or withdrawal of the respective ratings of such Rating Agency for any securities issued by the Trust;
provided, further, that Centurion shall have delivered to RFC III an Officer’s Certificate of Centurion, dated the date of such action, stating that Centurion reasonably believes that such action will not cause a Pay-Out Event or
a Reinvestment Event. Any conveyance (including any Supplemental Conveyance) or reassignment executed in accordance with the provisions hereof shall not be considered to be an amendment to this Agreement. A copy of any amendment to this Agreement
shall be sent to each Rating Agency. 
 Section 9.02. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED
IN ACCORDANCE WITH SUCH LAWS. 
 Section 9.03. Notices. All demands, notices and communications hereunder
shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by certified mail, return receipt requested and postage prepaid, to (a) in the case of Centurion, American Express Centurion Bank, 4315 South
2700 West, Salt Lake City, Utah 84184, Attention: President (facsimile: 801-945-4075), (b) in the case of RFC III, American Express Receivables Financing Corporation III LLC, 4315 South 2700 West, Room 3020-3, 02-01-03, Salt Lake City, Utah
84184, Attention: President (facsimile: 801-945-4045) and (c) in the case of the Trustee, The Bank of New York Mellon, 101 Barclay Street, Floor 7 West, New York, New York 10286, Attention: Corporate Trust Administration – Asset Backed
Securities (facsimile: 212-815-3883); or, as to each party, at such other address as shall be designated by such party in a written notice to each other party in accordance with this Section 9.03. 

Section 9.04. Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of
this Agreement shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions, or terms shall be deemed severable from the remaining covenants, agreements, provisions, and terms of this Agreement and shall in no way
affect the validity or enforceability of the other provisions of this Agreement. 
 Section 9.05. Assignment.
Notwithstanding anything to the contrary contained herein, other than RFC III’s assignment of its right, title, and interest in, to, and under this Agreement to the Trustee as contemplated by the Pooling and Servicing Agreement and
Section 9.06 hereof, this Agreement may not be assigned by the parties hereto; provided, however, that Centurion shall have the right to assign its right, title and interest in, to and under this Agreement

  
 30 

 
to (a) any successor by merger assuming this Agreement or (b) to any other entity; provided, further, that (x) in the case of an assignment pursuant to clauses
(a) and (b), Centurion has given ten (10) days prior notice to RFC III, the Trustee and each Rating Agency, and (y) in the case of an assignment pursuant to clause (b), written confirmation has been received by RFC III and the Trustee
from each Rating Agency that such assignment will not result in the reduction or withdrawal of the respective ratings of such Rating Agency for any securities issued by the Trust. 

Section 9.06. Acknowledgement and Agreement of Centurion. By execution below, Centurion expressly acknowledges and
agrees that all of RFC III’s right, title, and interest in, to, and under this Agreement, including all of RFC III’s right, title, and interest in and to the Purchased Assets, may be assigned by RFC III to the Trustee, and Centurion
consents to such assignment. Centurion further agrees that notwithstanding any claim, counterclaim, right of setoff or defense which it may have against RFC III, due to a breach by RFC III of this Agreement or for any other reason, and
notwithstanding the bankruptcy of RFC III or any other event whatsoever, Centurion’s sole remedy shall be a claim against RFC III for money damages, and then only to the extent of funds available to RFC III, and in no event shall Centurion
assert any claim on or any interest in the Purchased Assets or take any action which would reduce or delay receipt by the Trustee of Collections with respect to the Purchased Assets. Additionally, Centurion agrees that any amounts payable by
Centurion to RFC III hereunder which are to be paid by RFC III to the Trustee or the Servicer shall be paid by Centurion directly to the Trustee or the Servicer, as applicable, as assignee of RFC III. 

Section 9.07. Further Assurances. RFC III and Centurion agree to do and perform, from time to time, any and all
acts and to execute any and all further instruments required or reasonably requested by the other party or the Trustee more fully to effect the purposes of this Agreement, including the execution of any financing statements or amendments thereto or
equivalent documents relating to the Purchased Assets for filing under the provisions of the UCC or other law of any applicable jurisdiction. 

Section 9.08. No Waiver; Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of
RFC III or Centurion, any right, remedy, power or privilege hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or
the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exhaustive of any rights, remedies, powers and privileges provided by law. 

Section 9.09. Counterparts. This Agreement may be executed in two or more counterparts (and by different parties
on separate counterparts), each of which shall be an original, but all of which together shall constitute one and the same instrument. 

Section 9.10. Binding; Third-Party Beneficiaries. This Agreement will inure to the benefit of and be binding upon
the parties hereto and their respective successors and permitted assigns. The Trust and the Trustee shall be considered third-party beneficiaries of this Agreement. 

  
 31 

 Section 9.11. Merger and Integration. Except as specifically stated
otherwise herein, this Agreement sets forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement. This Agreement may not be modified, amended,
waived or supplemented except as provided herein. 
 Section 9.12. Headings. The headings are for purposes of
reference only and shall not otherwise affect the meaning or interpretation of any provision hereof. 
 Section 9.13.
Schedules and Exhibits. The schedules and exhibits attached hereto and referred to herein shall constitute a part of this Agreement and are incorporated into this Agreement for all purposes. 

Section 9.14. Survival of Representations and Warranties. All representations, warranties and agreements contained
in this Agreement or contained in any Supplemental Conveyance shall remain operative and in full force and effect and shall survive conveyance of the Purchased Assets by RFC III to the Trustee pursuant to the Pooling and Servicing Agreement. 

Section 9.15. Nonpetition Covenant. Notwithstanding any prior termination of this Agreement, Centurion shall not,
prior to the date which is one year and one day after the termination of this Agreement, acquiesce, petition or otherwise invoke or cause RFC III or the Trust to invoke the process of any Governmental Authority for the purpose of commencing or
sustaining a case against RFC III or the Trust under any Debtor Relief Law or appointing a receiver, conservator, liquidator, assignee, trustee, custodian, sequestrator or other similar official of RFC III or the Trust or any substantial part of its
property or ordering the winding-up or liquidation of the affairs of RFC III or the Trust. 
 [END OF ARTICLE IX] 

  
 32 

 IN WITNESS WHEREOF, RFC III and Centurion have caused this Receivables Purchase
Agreement to be duly executed by their respective officers as of the date first above written. 
  

			
	 AMERICAN EXPRESS CENTURION BANK

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Acknowledged and Accepted by: 
  

			
	 THE BANK OF NEW YORK MELLON,

as Trustee

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 EXHIBIT A 

FORM OF SUPPLEMENTAL CONVEYANCE 

(As required by Section 2.02 of 

the Receivables Purchase Agreement) 

SUPPLEMENTAL CONVEYANCE No. [    ], dated as of
[                    ], by and between AMERICAN EXPRESS CENTURION BANK, a Utah industrial loan company (together with its permitted successors and
assigns, “Centurion”), and AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC, a Delaware limited liability company (together with its permitted successors and assigns, “RFC III”), pursuant to
the Receivables Purchase Agreement referred to below. 
 W I T N E S S E T H: 

WHEREAS, Centurion and RFC III are parties to an Amended and Restated Receivables Purchase Agreement, dated as of
[            ], 2015 (hereinafter as such agreement may have been, or may from time to time be, amended, supplemented or otherwise modified, the “Receivables Purchase
Agreement”); 
 WHEREAS, pursuant to the Receivables Purchase Agreement, Centurion wishes to designate
Aggregate Addition Accounts to be included as Accounts and Centurion wishes to convey its right, title and interest in the Receivables of such Aggregate Addition Accounts, whether existing on the Addition Cut-Off Date or thereafter created, to RFC
III pursuant to the Receivables Purchase Agreement; and 
 WHEREAS, RFC III is willing to accept such designation and
conveyance subject to the terms and conditions hereof. 
 NOW, THEREFORE, Centurion and RFC III hereby agree as follows:

 1. Defined Terms. All capitalized terms used herein shall have the meanings ascribed to them in the Receivables
Purchase Agreement unless otherwise defined herein. 
 “Addition Date” shall mean, with respect to the
Aggregate Addition Accounts, [                    ]. 

“Addition Cut-Off Date” shall mean, with respect to the Aggregate Addition Accounts,
[                    ]. 

“Additional Purchased Assets” shall have the meaning set forth in Subsection 3(a). 

  
 A-1 

 “Aggregate Addition Accounts” shall mean the Aggregate Addition
Accounts, as defined in the Receivables Purchase Agreement, that are designated hereby and listed on Schedule 1 hereto. [To be modified for New Accounts.] 

2. Designation of Aggregate Addition Accounts. Centurion delivers herewith an Account Schedule containing a true and
complete list of the Aggregate Addition Accounts. Such Account Schedule is incorporated into and made part of this Supplemental Conveyance, shall be Schedule 1 to this Supplemental Conveyance and shall supplement Schedule
1 to the Receivables Purchase Agreement. [To be modified for New Accounts.] 
 3. Conveyance of Receivables.

 (a) Centurion does hereby sell, transfer, assign, set over and otherwise convey to RFC III, without recourse except as
provided in the Receivables Purchase Agreement, all of its right, title and interest, whether now owned or hereafter acquired, in, to and under the Receivables arising in the Aggregate Addition Accounts (including Related Accounts and Transferred
Accounts with respect to such Aggregate Addition Accounts), existing at the close of business on the Addition Cut-Off Date and thereafter created, all Insurance Proceeds, Issuer Rate Fees and Recoveries allocable to such Receivables, all monies due
or to become due and all amounts received or receivable with respect thereto, all Collections with respect thereto, and all proceeds (including “proceeds” as defined in the UCC) thereof (collectively, the “Additional Purchased
Assets”). 
 (b) In connection with such sale and if necessary, Centurion agrees to record and file, at its own
expense, one or more financing statements (and amendments with respect to such financing statements when applicable) with respect to the Additional Purchased Assets meeting the requirements of applicable state law in such manner and in such
jurisdictions as are necessary to perfect the sale of the Additional Purchased Assets to RFC III, and to deliver a file-stamped copy of such financing statements or amendments or other evidence of such filing to RFC III. 

(c) In connection with such sale, Centurion further agrees, at its own expense, on or prior to the date of this Supplemental
Conveyance, to indicate in the appropriate computer files that all Receivables created in connection with the Aggregate Addition Accounts and the related Additional Purchased Assets have been conveyed to RFC III pursuant to this Supplemental
Conveyance. 
 (d) The parties hereto intend that the conveyance of Centurion’s right, title and interest in and to the
Additional Purchased Assets shall constitute an absolute sale, conveying good title free and clear of any liens, claims, encumbrances or rights of others from Centurion to RFC III. It is the intention of the parties hereto that the arrangements with
respect to the Additional Purchased Assets shall constitute a purchase and sale of such Additional Purchased Assets and not a loan, including for accounting purposes. In the event, however, that it were to be determined that the transactions
evidenced hereby constitute a loan and not a purchase and sale, it is the intention of the parties hereto that this Supplemental Conveyance shall 

  
 A-2 

 
constitute a security agreement under applicable law, and that Centurion shall be deemed to have granted, and Centurion does hereby grant, to RFC III a first priority perfected security interest
in all of Centurion’s right, title and interest, whether now owned or hereafter acquired, in, to and under the Additional Purchased Assets to secure the obligations of Centurion hereunder and under the Receivables Purchase Agreement. 

(e) To the extent that Centurion retains any interest in the Additional Purchased Assets, Centurion hereby grants to the
Trustee a security interest in all of Centurion’s right, title and interest, whether now owned or hereafter acquired, in, to and under the Additional Purchased Assets, to secure the performance of all of the obligations of Centurion hereunder,
under the Receivables Purchase Agreement and under the Pooling and Servicing Agreement. With respect to such security interest and such collateral, the Trustee shall have all of the rights that it has under the Pooling and Servicing Agreement. The
Trustee shall also have all of the rights of a secured creditor under the UCC. 
 4. Acceptance by RFC III. RFC III
hereby acknowledges that, prior to or simultaneously with the execution and delivery of this Supplemental Conveyance, Centurion delivered to RFC III the Account Schedule described in Section 2 of this Supplemental Conveyance with respect to all
Additional Accounts. [To be modified for New Accounts.] 
 5. Representations and Warranties of Centurion. Centurion
hereby acknowledges on the Addition Date that it makes the representations and warranties in Sections 4.01 and 4.02 of the Receivables Purchase Agreement with respect to the Aggregate Addition Accounts. 

6. Ratification of the Receivables Purchase Agreement. The Receivables Purchase Agreement is hereby ratified, and all
references to the “Receivables Purchase Agreement,” to “this Agreement” and “herein” shall be deemed from and after the Addition Date to be a reference to the Receivables
Purchase Agreement as supplemented and amended by this Supplemental Conveyance. Except as expressly amended hereby, all the representations, warranties, terms, covenants and conditions of the Receivables Purchase Agreement shall remain unamended and
shall continue to be, and shall remain, in full force and effect in accordance with its terms and except as expressly provided herein shall not constitute or be deemed to constitute a waiver of compliance with or consent to non-compliance with any
term or provision of the Receivables Purchase Agreement. 
 7. Counterparts. This Supplemental Conveyance may be
executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. 
 8.
GOVERNING LAW. THIS SUPPLEMENTAL CONVEYANCE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND
THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  
 A-3 

 IN WITNESS WHEREOF, RFC III and Centurion have caused this Supplemental
Conveyance to be duly executed and delivered by their respective duly authorized officers on the date first above written. 
  

			
	 AMERICAN EXPRESS CENTURION BANK

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION III LLC
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 Acknowledged and Accepted by: 
  

			
	 THE BANK OF NEW YORK MELLON,

as Trustee

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 A-4 

 Schedule 1 to 

Supplemental 
 Conveyance

 AGGREGATE ADDITION ACCOUNTS 

  
 A-5 

 Schedule 1 

LIST OF ACCOUNTS 

[Delivered] 

  
 I-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00250-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00250-of-00352.parquet"}]]