Document:

Waiver, Consent and Fouth Amendment to Amended Revolving Credit Agreement

 Exhibit 10.42 
 WAIVER, CONSENT AND FOURTH AMENDMENT TO 
 AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT

 This Waiver, Consent and Fourth Amendment to Amended and Restated Revolving Credit Agreement (this “Amendment”) is
entered into as of August 4, 2006 (the “Effective Date”) by and among (i) Richardson Electronics, Ltd., a Delaware corporation (the “US-Borrower”), (ii) Burtek Systems, Inc., a Canadian corporation,
Richardson Electronics Canada, Ltd., a Canadian corporation (each a “Canada-Borrower”, and collectively, the “Canada-Borrowers”); (iii) Richardson Electronics Limited, an English limited liability company (the
“UK-Borrower”); (iv) RESA, SNC, a French partnership, Richardson Electronique SNC, a French partnership, Richardson Electronics Iberica, S.A., a Spanish corporation, Richardson Electronics GmbH, a German limited liability
company, Richardson Electronics Benelux B.V., a Dutch private limited liability company (each a “Euro-Borrower” and collectively, the “Euro-Borrowers”), (v) Richardson Sweden Holding AB, a Swedish corporation
(the “Krona-Borrower”) and (vi) Richardson Electronics KK, a company organized under the laws of Japan (the “Japan-Borrower”) (the US-Borrower, the Canada-Borrowers, the UK-Borrower, the Euro-Borrowers, the
Krona-Borrower and the Japan-Borrower are collectively referred to as the “Borrowers”), the lenders party hereto (each, a “Lender” and collectively, the “Lenders”), JP Morgan Bank, N.A., London
Branch, as Eurocurrency Agent (the “Eurocurrency Agent”), JPMorgan Chase Bank, N.A., Toronto Branch as Canada Agent (the “Canada Agent”), JPMorgan Chase Bank, N.A., Tokyo Branch as Japan Agent (the “Japan
Agent”) and JPMorgan Chase Bank, N.A., successor by merger to Bank One, NA as administrative agent (in such capacity, the “Administrative Agent”) (the Eurocurrency Agent, the Canada Agent, the Japan Agent and the
Administrative Agent are collectively referred to as the “Funding Agents” and each individually a “Funding Agent”). 
 RECITALS 
 WHEREAS, the Borrowers, the Lenders and the Funding Agents are parties to that
certain Amended and Restated Revolving Credit Agreement dated as of October 29, 2004 (as amended from time to time, the “Agreement”); 
 WHEREAS, the Borrowers, the Lenders and the Funding Agents desire to, among other things, amend the Credit Agreement in order to revise certain financial covenants, to provide certain requirements for the maintenance
of excess Borrowing Base availability, and to accommodate new overdraft credit facilities extended pursuant to the Overdraft Facility Agreement (as hereinafter defined), in each case on the terms and conditions set forth herein; 
 WHEREAS, US-Borrower has discovered errors in its financial accounting and concluded, as a result thereof, that its previously issued financial
statements, including those for its fiscal years ended May 31, 2003, May 29, 2004 and May 28, 2005, and the interim periods ended September 3, 2005 and December 3, 2005 should no longer be 
  

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 relied upon. The US Borrower has not yet determined the impact of these errors for any specific period, but it estimates
that, in the aggregate, the errors will reduce stockholders’ equity by approximately $3 million to $4 million. As a result of ongoing evaluation of these accounting errors, the US Borrower did not file its Form 10-Q for its fiscal quarter ended
March 4, 2006 (the “Third Quarter 10-Q”) by the filing deadline of April 18, 2006. It intends to file the report on Form 10-Q for that period as soon as possible, and, if required, to file amended reports for previously
issued financial statements as soon as practicable after completing its analysis of the impact of the accounting errors on those periods. It also intends to file amended reports for any other prior periods, if it determines that it is necessary to
restate the financial statements for any such periods as a result of the accounting correction (the “Error and Restatement”); 
 WHEREAS, the Error and Restatement results in certain Defaults under the Agreement as more particularly described herein; 
 WHEREAS, the US-Borrower further desires to sell its interest in a certain vacant facility located at 715 Hamilton, Geneva, Illinois (the “Geneva Real Property”) for the sum of approximately Three Million Dollars
($3,000,000) (the “Geneva Real Property Sale”); 
 WHEREAS, the US-Borrower further desires to repurchase in privately
negotiated transactions certain of its 8% Convertible Senior Subordinated Notes (the “8% Notes”) issued in connection with that certain Indenture dated November 21, 2005 among US Borrower, Law Debenture Trust Company of New
York (the “Trustee”) and JPMorgan Trust Company, National Association, as paying agent, registrar and conversion agent and settle allegations of default with certain holders of the 8% Notes in amounts for (i) principal,
premium, fees and expenses (including attorneys’ fees) not in excess of Sixteen Million One Hundred Thousand Dollars ($16,100,000) and (ii) accrued interest thereon (such of the 8% Notes being repurchased are hereinafter referred to as the
“Repurchased Notes” and the transaction that effects such repurchase is hereinafter referred to as the “Note Repurchase”); 
 * 
 WHEREAS, the US-Borrower or its Affiliates desires to liquidate Richardson Distribution, Inc., a
Delaware corporation (“REDI”) (such liquidation of REDI to be referred to herein as the “Subsidiary Liquidation”) pursuant to a tax plan of reorganization whereby, among other things, the US-Borrower shall transfer its
interest in certain of the Euro Borrowers and various other Subsidiaries to the Euro Holding Company (as hereinafter defined) and to otherwise consolidate its holding structure as more particularly described in the minutes of the Special Meeting of
the Board of Directors of the US-Borrower of May 18, 2006 (the “Plan of Reorganization”); 
 WHEREAS, the shares of
REDI are pledged as collateral to the Lenders under the Stock Pledge Agreement dated as of November 26, 2002 between Borrower and Lenders; 

 * - Redacted text - Confidential treatment requested. 
  

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 WHEREAS, JPMorgan Chase Bank, N.A., successor by merger to Bank One, NA (in its capacity as a Lender,
“JPMorgan”) desires to reduce the amount of its US Facility Commitment and increase the amount of its Euro Facility Commitment and the Lenders and the Borrower desire to agree to such a reduction and increase in JPMorgan’s
Commitments; 
 WHEREAS, JPMorgan desires to enter into an overdraft credit facility for the benefit of the Euro Holding Company as evidenced
by a separate agreement between JPMorgan and the Euro Holding Company; 
 WHEREAS, the Lenders wish to waive certain Defaults arising from
the Error and Restatement, grant certain consents in connection with the Geneva Real Property Sale, the 8% Note Repurchase, * and the Subsidiary Liquidation and amend the Agreement, in each case on terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto agree as follows: 
 1. Defined Terms. (a) Capitalized terms used herein but not defined herein shall have the meanings ascribed thereto in the Agreement, as amended
hereby. 
 (b) The following terms used in this Amendment shall have the meanings set forth below: 
 “Restatement Defaults” means the Defaults arising as a result of the Error and Restatement and for the periods covered
thereby, together with any preceding periods, (i) under Section 7.1 of the Agreement by reason of the breach of representations and warranties contained in Sections 5.4, 5.6, 5.9, and 5.12 of the Agreement on account of the submission of
incorrect financial statements, (ii) arising under Section 7.3 of the Agreement arising by reason of the violation of Section 6.1 of the Agreement, which requires, among other things, the submission of financial statements adhering to
Agreement Accounting Principles no later than April 18, 2006 in respect of the most recent reporting period, (iii) arising under Sections 7.5 and 7.21 in connection with defaults arising under Debentures due by reason of the
US-Borrower’s failure to deliver timely financial statements and breaches of representations and warranties under the Debentures (the “Debenture Defaults”), and (iv) other Defaults caused solely by the occurrence of the
Defaults described in the foregoing clauses (i) through (iii). 
 2. Waiver. 
 Each Lender hereby waives Events of Default under Sections 7.1 and 7.3 of the Agreement arising solely from (i) the Restatement Defaults,
provided however, that the Debenture Defaults are waived by the Lenders only to the extent the same have been waived by the appropriate parties to the Debentures and no subsequent defaults are declared; (ii) the violation of
Section 6.4 in connection with the Subsidiary Liquidation; 

 * - Redacted text -
Confidential treatment requested. 
  

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 (iii) the violation of Section 6.12 in connection with * and the Geneva Real Property Sale, provided * and the
Geneva Real Property Sale are prepaid in accordance with this Amendment and the Agreement; (iv) the violation of Section 6.24 of the Agreement arising from the US-Borrower and its Subsidiaries’ failure to maintain a Leverage Ratio at
less than 3.35 to 1.0 measured at the fiscal quarter ended March 4, 2006; (v) the violation of Section 6.25 of the Agreement arising from the US-Borrower and its Subsidiaries’ failure to maintain a Fixed Charge Coverage Ratio of
at least 1.15 to 1.0 measured at the fiscal quarter ended March 4, 2006; and (vi) the violation of Section 6.26 of the Agreement arising from the US-Borrower and its Subsidiaries’ failure to maintain Tangible Net Worth measured
at the fiscal quarter ended March 4, 2006. 
 3. Consent 
 Each Lender hereby consents (i) pursuant to Section 6.4 of the Agreement, to the Subsidiary Liquidation and corresponding release of the
applicable shares pledged under the Collateral Documents, (ii) pursuant to Section 6.12 of the Agreement to the Real Property Sale and * , and (iii) pursuant to Section 6.23 of the Agreement, to the Note Repurchase, in each case
subject to the terms and conditions contained herein. Each Lender further acknowledges the US-Borrower’s intention to request an Advance, the proceeds of which shall be used to finance in full the Note Repurchase, and which Advance shall
finance the payment or repayment of amounts for (x) principal, premium, fees and expenses (including attorneys’ fees) not in excess of Sixteen Million One Hundred Thousand Dollars ($16,100,000) and (y) accrued interest thereon. *

 4. Amendments. 
 (a) The
following definitions contained in Section 1.1 of the Agreement are hereby deleted in their entirety and replaced as follows: 
 “‘Adjusted EBITDA’ means, at any date of determination thereof, EBITDA plus the Goodwill Reduction plus the Severance Charge plus the 2006 Severance Charge plus (or
minus) Foreign Exchange Gains/Losses plus the Note Repurchase Premium Charge plus SFAS 133 Charges minus SFAS 133 Gains plus FASB 123 Expenses minus FASB 123 Gains.” 
 “‘Availability Hold’ means the sum of (i) Twenty Million Dollars ($20,000,000) at all times through and
including the date on which the US-Borrower files its Third Quarter 10-Q; and (ii) Ten Million Dollars ($10,000,000) effective for all times after the US-Borrower files its Third Quarter 10-Q, which reduction shall be deemed incorporated into
any Borrowing Base Certificate submitted for the month ended just prior to such reduction. The reductions contemplated by clause (ii) of this definition shall be conditioned on no occurrence of any Default or Unmatured Default.”

 * - Redacted text - Confidential treatment requested. 
  

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 “‘Debentures’ means the US-Borrower’s (i) 8.0%
Convertible Senior Subordinated Notes due 2011 and (ii) 7 3/4% Convertible Senior Subordinated Notes due
2011.” 
 (b) The following new definitions are hereby inserted alphabetically in Section 1.1 of the Agreement as
follows: 
 “‘2006 Severance Charge’ means up to a cumulative amount of $1,500,000 representing a one
time charge taken by the US-Borrower during the US-Borrower’s fiscal quarter ending August 31, 2006 relating to employee severance packages in accordance with Agreement Accounting Principles, as certified to the Administrative Agent by an
Authorized Officer of the US-Borrower.” 
 “‘Euro Holding Company’ means Richardson Electronics
Benelux B.V., a Dutch private limited liability company.” 
 “‘FASB 123 Expenses’ means recurring
non-cash expenses related to the US Borrower’s accounting for stock options as determined in accordance with Agreement Accounting Principles.’ 
 “‘FASB 123 Gains’ means recurring non-cash gains related to the US Borrower’s accounting for stock options as determined in accordance with Agreement Accounting Principles.’ 

“‘Foreign Exchange Gains/Losses’ means recurring non-cash portion of foreign exchange gains/losses as determined
in accordance with Agreement Accounting Principles.’ 
 “‘Note Repurchase Premium Charge’ up to an
amount not in excess of $2,750,000 representing a one time charge taken by the US-Borrower relating to the premium and related expenses (including attorneys’ fees) paid by the US-Borrower in connection with the Note Repurchase. For the
avoidance of doubt, the Note Repurchase Premium Charge shall not include any principal or interest paid in connection with the Note Repurchase.” 
 “‘Overdraft Exposure’ means the aggregate uncommitted amount available for borrowing under the Overdraft Facility Agreement.” 
 “‘Overdraft Facility Agreement’ means an uncommitted overdraft credit facility for the benefit of the Euro Holding
Company as evidenced by a separate agreement between the Overdraft Lender and the Euro Holding Company, as the same may be amended, modified, exchanged or substituted from time to time.” 
  

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 “‘Overdraft Lender’ means JPMorgan Chase Bank, N.A., London Branch.

 “‘Overdraft Loan’ is defined in Section 2.25.1” 
 (c) For avoidance of doubt, the definition of “Borrowers” shall be as set forth in this Amendment. 
 (d) A new Section 2.25 is added as follows: 
 Overdraft Loans. 
 2.25.1 Overdraft Loans. The Overdraft Lender in its sole and absolute discretion, from and
including the date of this Agreement and prior to the Facility Termination Date, may make, on a revolving credit basis, loans (collectively, “Overdraft Loans”) in Euro to the Euro Holding Company in such aggregate amounts as Euro
Holding Company may from time to time request from the Overdraft Lender in accordance with the Overdraft Facility Agreement up to the amount of the Overdraft Exposure; provided, after giving effect to such Overdraft Loan, (i) the
aggregate outstanding amount of all Overdraft Loans does not exceed the Overdraft Exposure, and (ii) the Overdraft Exposure, plus the Eurocurrency Advances, do not exceed the Aggregate Euro Facility Commitment. The Overdraft Facility Agreement
shall take effect upon its execution and delivery on terms acceptable to the Overdraft Lender and satisfaction of all conditions to effectiveness thereto. For purposes of computation of the fees contained in Section 2.4.2 hereof, outstanding
Overdraft Loans shall count as usage under the Euro Facility. Subject to the terms of this Agreement, the Euro Holding Company may borrow, repay and reborrow Overdraft Loans at any time prior to the Facility Termination Date in accordance with the
terms of the Overdraft Facility Agreement. The terms and conditions of borrowing in respect to the Overdraft Loans, including borrowing procedures, shall be as set forth in the Overdraft Facility Agreement. The parties hereto acknowledge and agree
that the Overdraft Loans shall be entitled to the same collateral security and guaranties as the Euro Facility, including, without limitation the Collateral Documents and each Borrower agrees to perform such other and further acts necessary to give
effect to such security and support. 
 2.25.2 Participations; Reimbursement by Euro Lenders. Upon the earlier of (a) a Business
Day occurring no less frequently than weekly, as determined by the Eurocurrency Agent and notice of which has been provided to the Euro Lenders and (b) the Business Day on which written demand by the Overdraft Lender, with a copy of such demand
to the Administrative Agent, is received by each Euro Lender (such date, the “Overdraft Settlement Date”), each other Euro Lender shall purchase from the Overdraft Lender, and the Overdraft Lender shall sell and assign to each such
other Euro Lender, such other Euro Lender’s Percentage of such outstanding Overdraft Loans as of such Overdraft Settlement Date, by making available for the account of the Overdraft Lender, by deposit at the office specified by the Eurocurrency
Agent, in same day funds, an amount equal to the portion of the outstanding principal amount, of such Overdraft Loans to be purchased by such Euro Lender. The Euro Holding Company agrees to each 
  

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 such sale and assignment. If and to the extent any Euro Lender shall not have made the amount of such Overdraft Loan
available to the Eurocurrency Agent by 2:00 p.m. (London time) on the Overdraft Settlement Date (it being understood that any such notice received after noon (London time) on any Business Day shall be deemed to have been received on the next
following Business Day), such Euro Lender agrees to pay interest on such amount to the Eurocurrency Agent for the Overdraft Lender’s account forthwith on demand for each day from the date such amount was to have been delivered to the
Eurocurrency Agent to the date such amount is paid, at a rate per annum equal to the Eurocurrency Rate (as determined by the Overdraft Lender) plus Two Percent (2.0%). Any Euro Lender’s failure to make available to the Eurocurrency Agent its
Percentage of any such Overdraft Loan shall not relieve any other Euro Lender of its obligation hereunder to make available to the Eurocurrency Agent such other Euro Lender’s Percentage of such Overdraft Loan, but no Euro Lender shall be
responsible for the failure of any other Euro Lender to make available to the Eurocurrency Agent such other Euro Lender’s Percentage of any such Overdraft Loan. If such Euro Lender shall pay to the Eurocurrency Agent such amount for the account
of the Overdraft Lender on any Business Day, such amount so paid in respect of principal shall constitute a Overdraft Loan made by such Euro Lender on such Business Day for purposes of this Agreement, and the outstanding principal amount of the
Overdraft Loan made by the Overdraft Lender shall be reduced by such amount on such Business Day. 
 (e) Section 6.1(iv) is hereby
amended to delete reference to the number “10” therein and to replace said reference with the number “20.” 
 (f)
Section 6.10(i) is hereby deleted and replaced as follows: 
 “(i) The Loans and Letters of Credit hereunder, together with the
Overdraft Loans.” 
 (g) Section 6.26 is hereby deleted in its entirety and replaced as follows: 
 “Fixed Charge Coverage Ratio. The US-Borrower and its Subsidiaries will maintain, on each date listed below, a Fixed Charge Coverage Ratio of
greater than the respective ratio specified for such date: 
  

			
	 Applicable Dates
	  	 Minimum Ratio

	May 31, 2006	  	1.50 to 1.00
		
	August 31, 2006	  	1.40 to 1.00
		
	 November 30, 2006
 and each fiscal quarter-end
thereafter
	  	1.50 to 1.00”

 (h) Section 6.26 is hereby deleted in its entirety and replaced as follows: 
 “6.26 Tangible Net Worth. The US-Borrower and its Subsidiaries will maintain, at all times, a Tangible Net Worth greater than the sum of
(i)
  

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 eighty five percent (85%) of Tangible Net Worth at the fiscal quarter ended March 4, 2006
plus (ii) fifty percent (50%) of the Net Income of the US-Borrower and its Subsidiaries earned in each fiscal quarter beginning with the quarter ending June 3, 2006 (without deduction for losses), plus (iii) one
hundred percent (100%) of the net proceeds (gross proceeds minus (A) ordinary and necessary out of pocket costs and expenses and (B) reasonable underwriting fees and discounts incurred with respect to such gross proceeds) received by
the US-Borrower or its Subsidiaries on or after March 4, 2006 from additional paid in capital, including, but not limited to, equity investments and proceeds from the issuance and sale of capital stock (including the amount of all Indebtedness
which is converted into equity in the US-Borrower or its Subsidiaries).” 
 (i) The undersigned parties hereby agree, until the earlier
of delivery of the US Borrower’s financial reports for the quarter ending November 30, 2006, required to be submitted under the Agreement or the completion of * , all Advances shall be priced at Level V Status within the meaning of the
Pricing Schedule. The parties further agree, upon completion of * , all Advances shall be priced at Level II Status within the meaning of the Pricing Schedule until such time as new covenants have been agreed as required under Section 6(c) of
this Amendment. 
 5. Effectiveness. This Amendment shall become effective when the Administrative Agent has received all of the following
acknowledged to be satisfactory by the Administrative Agent: 
 (a) This Amendment, executed by the requisite signatories; 
 (b) A certificate, signed by the chief financial officer of Richardson Electronics, Ltd. substantially in the form of Annex A attached hereto and made a
part hereof, stating that on the date on which this Amendment becomes effective (the “Effective Time”) (after giving effect to this Amendment) no Default or Unmatured Default has occurred and is continuing and further certifying
that the representations and warranties contained in Article 5 of the Agreement are true and correct on and as of the Effective Time; 
 (c)
The Administrative Agent shall have received, for the account of each Lender, an amendment fee equal to One Quarter Percent (.25%) of the Aggregate Commitment, payable in Dollars; 
 (d) The Administrative Agent shall have received a copy of the Plan of Reorganization as presented to the US-Borrower’s Board of Directors, which
shall be in form and substance satisfactory to the Administrative Agent; 
 (e) The representations and warranties contained in
Section 8 of this Amendment shall be true and correct in all material respects; and 

 * -
Redacted text - Confidential treatment requested. 
  

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 (f) Such other documents, instruments, approvals (and, if requested by the Administrative Agent,
certified duplicates of executed copies thereof) or opinions as the Administrative Agent may reasonably request. 
 6. Covenants. During the
term of the Agreement, unless the Required Lenders shall otherwise consent in writing, the US Borrower agrees as follows: 
 (a) The US
Borrower shall furnish to the Administrative Agent a copy of its Quarterly Report as filed on Form 10-Q as of and for the fiscal quarter ended March 4, 2006. The form and content of the report with respect to the consolidated financial
statements shall (i) meet the requirements of the Agreement and not contain any “going concern” qualification or other qualification unacceptable to the Administrative Agent and (ii) conform substantially to and contain no
material deviations or variations from the draft financial statements in respect to such period furnished by the US-Borrower to the Administrative Agent on July 20, 2006. Such Quarterly Report on Form 10-Q shall be furnished to the
Administrative Agent not later than September 1, 2006. 
 (b) * shall be paid to the Administrative Agent for the benefit of the Lenders
in repayment of the Loans in accordance with the Agreement. 
 (c) Not less than 60 days after completion of * , the Borrowers and the
Required Lenders will amend Sections 6.24, 6.25 and 6.26 of the Agreement in connection with mutually agreeable financial covenants. The failure of the parties to reach mutually agreeable financial covenants and execute an amendment evidencing the
same shall be a Default. 
 7. Conditions Subsequent. The continuing effectiveness of certain consents granted in this Amendment shall be
conditioned upon satisfaction of the following conditions subsequent and to the extent the applicable conditions are not met, the applicable consent related to such condition subsequent shall be deemed null and void and no longer have effect:

 (a) In the case of the Note Repurchase, so long as the US Borrower shall have delivered the Quarterly Report as required herein, the Note
Repurchase may be completed, and in any event, will be completed on or before September 30, 2006, and will be conducted in full compliance with applicable law and the US-Borrower agrees to promptly provide to the Administrative Agent such
documents (and, if requested by the Administrative Agent, certified duplicates of executed copies thereof), representations and opinions as the Administrative Agent may reasonably request to evidence the terms of the Note Repurchase and the
compliance thereof with applicable law. After giving effect to the Note Repurchase and acceptance of the applicable waivers issued by a majority of the holders of the 8% Notes by the Trustee under the Indenture, there shall exist no event of default
or other event or occurrence, under the Indenture that would permit the remaining holders of the 8% Notes to accelerate the maturity thereof, any such event of default being cured to the US-Borrower or waived by the applicable holders of the 8%
Notes, pursuant to the terms of the Indenture. 

 * - Redacted text - Confidential treatment
requested. 
  

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 (b) In the case of * will be conducted in full compliance with applicable law and the US-Borrower agrees
to promptly provide to the Administrative Agent such documents (and, if requested by the Administrative Agent, certified duplicates of executed copies thereof), representations and opinions as the Administrative Agent may reasonably request to
evidence the terms of * and the compliance thereof with applicable law. 
 8. Reductions to Commitments  
 (a) Each Borrower hereby directs the termination in full of the Aggregate Krona Facility Commitment and the reduction of the Aggregate Canada Facility
Commitment by an amount in Canadian Dollars of Six Million Dollars (CAD$6,000,000) and each Funding Agent by its signature hereto hereby acknowledges and consents to such termination and reduction with no requirement of advance notice thereof. The
Lenders further agree that the allocation of the Aggregate Commitment after giving effect to such termination and reduction shall be as set forth on Annex 1 attached hereto and made a part hereof. 
 (b) Upon completion of * , the US Facility Commitment shall be reduced by a Dollar Amount equal to 60% of * . Each US Lender’s US Facility
Commitment shall be reduced pursuant to this Section 8(b) on a pro rata basis. 
 9. Change in Commitments. Upon the effectiveness of the
Overdraft Facility Agreement, the Lenders and the Borrowers hereby agree that the US Facility Commitment held by JPMorgan shall be reduced by a Dollar Amount of up to €6,000,000 and the Euro Facility Commitment held by JPMorgan shall increase
in the same amount (up to €6,000,000). The amount of such decrease and correlative increase shall be at the sole discretion of JPMorgan. 
 10
Representations and Warranties. Each Borrower represents and warrants to the Lenders and Funding Agents (which representations and warranties shall become part of the representations and warranties made by such Borrower under the
Agreement) that: 
 (a) The execution, delivery and performance of this Amendment and the Overdraft Facility Agreement has been duly
authorized by all necessary action and will not require any consent or approval of any person or entity, violate in any material respect any provision of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award
presently in effect having applicability to it or constitute a default under any indenture or loan or credit agreement or any other agreement, lease or instrument to which any Borrower is a party or by which it or its properties may be bound or
affected; 
 (b) No consent, approval or authorization of or declaration or filing with any governmental authority or any non-governmental
person or entity, including without limitation, any creditor or partner of any Borrower is required on the part of such 

 * - Redacted text - Confidential treatment requested. 
  

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 Borrower in connection with the execution, delivery and performance of this Amendment, the Overdraft Facility Agreement
or the transactions contemplated thereby and the execution, delivery and performance of this Amendment or the Overdraft Facility Agreement and the transactions contemplated hereby will not violate the terms of any contract or agreement to which such
Borrower is a party; 
 (c) The Agreement, as amended hereby, together with the Overdraft Facility Agreement, is the legal, valid and binding
obligation of each Borrower and the Euro Holding Company, enforceable against it in accordance with the terms thereof; 
 (d) To the best of
each Borrower’s knowledge, the most recent financial statements of each Borrower delivered to the Lender are complete and accurate in all material respects and present fairly the financial condition of such Borrowers as of such date in
accordance with generally accepted accounting principles. There has been no adverse material change in the condition of the business, properties, operations or condition, financial or otherwise, of any Borrower since the date of such financial
statements. There are no material liabilities of any Borrower, fixed or contingent, which are material but not reflected on such financial statements or in the notes thereto; and 
 (e) After giving effect to this Amendment and the transactions contemplated hereby, no Default or Event of Default has occurred or exists under the
Agreement as of the Effective Date hereof. 
 11. Acknowledgement and Reaffirmation. Each Borrower hereby ratifies and affirms all of the
obligations and undertakings contained in the Agreement and the Agreement remains in full force and effect in accordance with its terms. Each Borrower hereby acknowledges, agrees and affirms that each document and instrument securing or supporting
the obligations and indebtedness owing to the Lenders and Funding Agents prior to the date of this Amendment remains in full force and effect in accordance with its terms, and that such security and support remains in full force effect as to all
obligations under the Agreement. 
 12-. Expenses. The Borrowers jointly and severally agree to pay and save the Lenders and Funding Agents
harmless from liability for the payment of all costs and expenses arising in connection with this Amendment, including the reasonable fees and expenses of Baker & McKenzie LLP, counsel to certain of the Lenders, in connection with the
preparation and review of this Amendment and any related documents. 
 13. Governing Law. This Amendment shall be governed by, and shall be
construed and enforced in accordance with, the laws of the State of Illinois. 
 14. Counterparts; Facsimile. This Amendment may be executed in
one or more counterparts, each of which together shall constitute the same agreement. One or more counterparts of this Amendment may be delivered by facsimile, with the intention that such delivery shall have the same effect as delivery of an
original counterpart thereof. 
 [The remainder of this page has been left blank intentionally] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of
the date first written above. 
  

			
	BORROWERS:
	
	RICHARDSON ELECTRONICS, LTD.
		
	BY:	 	  

	TITLE:	 	
	
	BURTEK SYSTEMS, INC.
		
	BY:	 	  

	TITLE:	 	
	
	RICHARDSON ELECTRONICS CANADA, LTD.
		
	BY:	 	  

	TITLE:	 	
	
	RICHARDSON ELECTRONICS LIMITED
		
	BY:	 	  

	TITLE:	 	
	
	RESA, SNC
		
	BY:	 	  

	TITLE:	 	
	
	RICHARDSON ELECTRONIQUE SNC
		
	BY:	 	  

	TITLE:	 	

  

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	RICHARDSON ELECTRONICS IBERICA, S.A.
		
	BY:	 	  
  

	TITLE:	 	
	
	RICHARDSON ELECTRONICS GMBH
		
	BY:	 	  
  

	TITLE:	 	
	
	RICHARDSON ELECTRONICS BENELUX B.V.
		
	BY:	 	  
  

	TITLE:	 	
	
	RICHARDSON SWEDEN HOLDING AB
		
	BY:	 	  
  

	TITLE:	 	
	
	RICHARDSON ELECTRONICS KK
		
	BY:	 	  
  

	TITLE:	 	
	
	FUNDING AGENTS:
	
	JPMORGAN CHASE BANK, N.A.
		
	BY:	 	  
  

	TITLE:	 	

  

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	JP MORGAN CHASE BANK, N.A., London Branch
		
	BY:	 	  

	TITLE:	 	
	
	JPMORGAN CHASE BANK, N.A., Toronto Branch
		
	BY:	 	  

	TITLE:	 	
	
	JPMORGAN CHASE BANK, N.A., through its
	Tokyo Branch
		
	BY:	 	  

	TITLE:	 	
	
	LENDERS:
	
	HARRIS N.A. (f/k/a HARRIS TRUST AND SAVINGS BANK)
		
	BY:	 	  

	TITLE:	 	
	
	BANK OF MONTREAL, Toronto Branch
		
	BY:	 	  

	TITLE:	 	
	
	BANK OF MONTREAL, London Branch
		
	BY:	 	  

	TITLE:	 	

  

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	 NATIONAL CITY BANK,
 Canada
Branch

		
	BY:	 	  

	TITLE:	 	
	
	NATIONAL CITY BANK, SUCCESSOR BY MERGER TO NATIONAL CITY BANK OF THE MIDWEST
		
	By:	 	  

	TITLE:	 	
	
	LASALLE BANK NATIONAL ASSOCIATION
		
	By:	 	  

	TITLE:	 	
	
	LASALLE BUSINESS CREDIT, a division of ABN AMRO Bank N.V., Canada Branch
		
	By:	 	  

	TITLE:	 	
	
	JPMORGAN CHASE BANK, N.A., London Branch
		
	By:	 	  

	TITLE:	 	
	
	JPMORGAN CHASE BANK, N.A., Toronto Branch
		
	By:	 	  

	TITLE:	 	

  

 - 15 - 

			
	JPMORGAN CHASE BANK, N.A., through its Tokyo Branch
		
	BY:	 	  

	TITLE:	 	
	
	JPMORGAN CHASE BANK, N.A.
		
	BY:	 	  

	TITLE:	 	
	
	JP MORGAN EUROPE LIMITED
		
	BY:	 	  

	TITLE:	 	

  

 - 16 - 

			
	ADDITIONAL LENDER:
	
	BANK OF MONTREAL, London Branch
		
	BY:	 	  

		
	TITLE:	 	  

  

 - 17 - 

 ANNEX A 
 OFFICER’S CERTIFICATE 
 This Certificate is delivered to JPMorgan Chase Bank, N.A., as Administrative
Agent by Richardson Electronics, Ltd., pursuant to that certain Amended and Restated Revolving Credit Agreement, dated as of October 29, 2004 among the Borrowers named therein, the Lenders set forth on the signature pages thereto and the
Funding Agents identified therein (as amended or modified from time to time, the “Credit Agreement”). All capitalized terms used herein but not defined shall have the respective meanings ascribed thereto in the Credit Agreement. The
undersigned, in his capacity as chief financial officer of Richardson Electronics, Ltd., hereby certifies to the Funding Agents and the Lenders that on the date hereof no Default or Unmatured Default has occurred and is continuing and that all the
representations and warranties contained in Article V of the Credit Agreement are true and correct on and as of the date hereof. 
 This
Certificate is delivered as of 8/4, 2006. 
  

			
	By:	 	  

	Its:	 	

  

 - 18 - 

 ANNEX 1 
 COMMITMENTS 
  

																										
	 Bank
	  	US	  	%	 	 	CAD	  	%	 	 	GBP	  	%	 	 	EUR	  	%	 	 	JPY	  	%	 
	 Total Tranch
	  	70,000,000	  			 	11,000,000.00	  			 	4,500,000.00	  			 	5,000,000.00	  			 	300,000,000.00	  		
		  	 	  			 	 	  			 	 	  			 	 	  			 	 	  		
	 JPM
	  	21,474,000	  	30.68	%	 	2,670,000	  	24.27	%	 	1,245,000	  	27.67	%	 	5,000,000	  	100.00	%	 	300,000,000	  	100.00	%
	 Harris
	  	15,826,000	  	22.61	%	 	3,260,000	  	29.64	%	 	1,260,000	  	28.00	%	 	—  	  	0.00	%	 	0	  	0.00	%
	 National City
	  	15,826,000	  	22.61	%	 	3,000,000	  	27.27	%	 	1,050,000	  	23.33	%	 	—  	  	0.00	%	 	0	  	0.00	%
	 LaSalle
	  	16,874,000	  	24.11	%	 	2,070,000	  	18.82	%	 	945,000	  	21.00	%	 	—  	  	0.00	%	 	0	  	0.00	%
		  	 	  			 	 	  			 	 	  	 	 	 	 	  	 	 	 	 	  	 	 
	 Total
	  	70,000,000	  	100.00	%	 	11,000,000	  	100.00	%	 	4,500,000	  	100.00	%	 	5,000,000	  	100.00	%	 	300,000,000	  	100.00	%
		  	 	  	 	 	 	 	  	 	 	 	 	  	 	 	 	 	  	 	 	 	 	  	 	 

  

 - 19 -Class A(2006-10) Terms Document

 Exhibit 4.1 
 EXECUTION COPY 
  

 BA CREDIT CARD TRUST 
 as Issuer 
 CLASS A(2006-10) TERMS DOCUMENT 
 dated as of September 19, 2006 
 to 
 AMENDED AND RESTATED BASERIES INDENTURE
SUPPLEMENT 
 dated as of June 10, 2006 
 to 
 AMENDED AND RESTATED INDENTURE 
 dated as of June 10, 2006 
 THE BANK OF NEW YORK 
 as Indenture Trustee 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE I
	
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
			
	 Section 1.01.
	  	 Definitions
	  	1
	 Section 1.02.
	  	 Governing Law; Submission to Jurisdiction; Agent for Service of Process
	  	5
	 Section 1.03.
	  	 Counterparts
	  	6
	 Section 1.04.
	  	 Ratification of Indenture and Indenture Supplement
	  	6
	
	ARTICLE II
	
	THE CLASS A(2006-10) NOTES
			
	 Section 2.01.
	  	 Creation and Designation
	  	7
	 Section 2.02.
	  	 Specification of Required Subordinated Amount and other Terms
	  	7
	 Section 2.03.
	  	 Interest Payment
	  	7
	 Section 2.04.
	  	 Calculation Agent; Determination of LIBOR
	  	8
	 Section 2.05.
	  	 Payments of Interest and Principal
	  	9
	 Section 2.06.
	  	 Form of Delivery of Class A(2006-10) Notes; Depository; Denominations
	  	9
	 Section 2.07.
	  	 Delivery and Payment for the Class A(2006-10) Notes
	  	9
	 Section 2.08.
	  	 Targeted Deposits to the Accumulation Reserve Account
	  	9
	
	ARTICLE III
	
	REPRESENTATIONS AND WARRANTIES
			
	 Section 3.01.
	  	 Issuer’s Representations and Warranties.
	  	10

  

 -i- 

 THIS CLASS A(2006-10) TERMS DOCUMENT (this “Terms Document”), by and between BA CREDIT
CARD TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890, and THE BANK OF NEW YORK, a New
York banking corporation ( the “Indenture Trustee”), is made and entered into as of September 19, 2006. 
 Pursuant to
this Terms Document, the Issuer and the Indenture Trustee shall create a new tranche of Class A Notes and shall specify the principal terms thereof. 
 ARTICLE I 
 Definitions and Other Provisions of General Application 
 Section 1.01. Definitions. For all purposes of this Terms Document, except as otherwise expressly provided or unless the context otherwise
requires: 
 (1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural
as well as the singular; 
 (2) all other terms used herein which are defined in the Amended and Restated BAseries Indenture
Supplement, dated as of June 10, 2006 (the “Indenture Supplement”), or the Amended and Restated Indenture, dated as of June 10, 2006 (the “Indenture”), each between the Issuer (formerly known as MBNA
Credit Card Master Note Trust) and the Indenture Trustee, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term
“generally accepted accounting principles” with respect to any computation required or permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date of such computation;

 (4) all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions
are to the designated Articles, Sections and other subdivisions of this Terms Document as originally executed; 
 (5) the
words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular Article, Section or other subdivision; 
 (6) in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained
in the Indenture Supplement or the Indenture, the terms and provisions of this Terms Document shall be controlling; 
 (7)
each capitalized term defined herein shall relate only to the Class A(2006-10) Notes and no other tranche of Notes issued by the Issuer; and 
 (8) “including” and words of similar import will be deemed to be followed by “without limitation.” 

 “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period
Length is determined to be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar
months prior to the first Transfer Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class A(2006-10) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the
Monthly Period following the first Transfer Date following and including the August 2007 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be
required to commence earlier than 24 months prior to the Expected Principal Payment Date, (iii) the Monthly Period following the first Transfer Date following and including the February 2008 Transfer Date for which the Quarterly Excess
Available Funds Percentage is less than 3%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 18 months prior to the Expected Principal Payment Date, and (iv) the Monthly Period following
the first Transfer Date following and including the April 2008 Transfer Date for which the Quarterly Excess Available Funds Percentage is less than 4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence
earlier than 16 months prior to the Expected Principal Payment Date and (y) ending on the close of business on the last day of the Monthly Period preceding the earlier to occur of (i) the Expected Principal Payment Date for the Class
A(2006-10) Notes and (ii) the date on which the Class A(2006-10) Notes are paid in full. 
 “Base Rate” means, with
respect to any Monthly Period, the sum of (i) the Weighted Average Interest Rates for the Outstanding BAseries Notes, (ii) the Net Servicing Fee Rate (as such term is defined in the Series 2001-D Supplement) and (iii) so long as FIA
or The Bank of New York is the Servicer, the Servicer Interchange Rate, in each case, for such Monthly Period. 
 “BAseries Servicer
Interchange” means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicer Interchange (as such term is defined in the Series 2001-D Supplement) with respect to such Monthly Period and (b) a
fraction the numerator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period and the denominator of which is the Weighted Average Available Funds Allocation Amount for all series of Notes for
such Monthly Period. 
 “Calculation Agent” is defined in Section 2.04(a). 
 “Class A(2006-10) Note” means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement,
designated therein as a Class A(2006-10) Note and duly executed and authenticated in accordance with the Indenture. 
 “Class
A(2006-10) Noteholder” means a Person in whose name a Class A(2006-10) Note is registered in the Note Register. 
 “Class
A(2006-10) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2006-10) Notes is paid in full, (b) the Legal Maturity Date and
(c) the date on which the Indenture is discharged and satisfied pursuant to Article VI thereof. 
  

 2 

 “Class A Required Subordinated Amount of Class B Notes” is defined in
Section 2.02(a). 
 “Class A Required Subordinated Amount of Class C Notes” is defined in
Section 2.02(b). 
 “Controlled Accumulation Amount” means $62,500,000.00; provided, however, if
the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Controlled Accumulation Amount shall be the amount specified in the definition of
“Controlled Accumulation Amount” in the Indenture Supplement. 
 “Excess Available Funds Percentage” means, with
respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
 “Expected Principal Payment Date” means September 15, 2009. 
 “Initial Dollar
Principal Amount” means $750,000,000. 
 “Interest Payment Date” means the fifteenth day of each month, or if such
fifteenth day is not a Business Day, the next succeeding Business Day, commencing November 15, 2006. 
 “Interest
Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or in the case of the initial Interest Payment Date, from and including the Issuance Date) through the day preceding
such Interest Payment Date. 
 “Issuance Date” means September 19, 2006. 
 “Legal Maturity Date” means February 15, 2012. 
 “LIBOR” means, for any Interest Period, the London interbank offered rate for one-month United States dollar deposits determined by the Calculation Agent on the LIBOR Determination Date for each
Interest Period in accordance with the provisions of Section 2.04. 
 “LIBOR Determination Date” means
September 15, 2006 for the period from and including the Issuance Date to but excluding November 15, 2006 and, for each Interest Period thereafter, the second London Business Day prior to the Interest Payment Date on which such Interest
Period commences. 
 “London Business Day” means any Business Day on which dealings in deposits in United States Dollars are
transacted in the London interbank market. 
  

 3 

 “Note Interest Rate” means a per annum rate equal to 0.02% less than LIBOR as determined
by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
 “Paying Agent”
means The Bank of New York. 
 “Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage
equivalent of a fraction, the numerator of which is (a) the amount of Available Funds allocated to the BAseries pursuant to Section 501 of the Indenture, plus (b) any Interest Funding sub-Account Earnings on the related
Transfer Date, plus (c) any amounts to be treated as BAseries Available Funds pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement, plus (d) the BAseries Servicer Interchange for such Monthly
Period, minus (e) the excess, if any, of the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over the sum of the aggregate amount to be treated as BAseries Available Funds for such Monthly
Period pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of BAseries Notes for
such Monthly Period, minus (f) the BAseries Investor Default Amount for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period. 
 “Predecessor Note” means, with respect to any particular Note, every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 306 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note shall be deemed to evidence the
same debt as the mutilated, lost, destroyed or stolen Note. 
 “Quarterly Excess Available Funds Percentage” means, with
respect to the August 2007 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly
Periods and the denominator of which is three. 
 “Record Date” means, for any Transfer Date, the last Business Day of the
preceding Monthly Period. 
 “Reference Banks” means four major banks in the London interbank market selected by the
Beneficiary. 
 “Required Accumulation Reserve sub-Account Amount” means, with respect to any Monthly Period during the
Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2006-10) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount
designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

 “Servicer Interchange Rate” means, for any Monthly Period, the percentage equivalent of a fraction, the numerator of
which is the BAseries Servicer Interchange for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period. 
  

 4 

 “Stated Principal Amount” means $750,000,000. 
 “Telerate Page 3750” means the display page currently so designated on the Moneyline Telerate Service (or such other page as may replace
that page on that service for the purpose of displaying comparable rates or prices). 
 “Weighted Average Interest Rates”
means, with respect to any Outstanding Notes of a class or tranche of the BAseries, or of all of the Outstanding Notes of the BAseries, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes
on such date) of the following rates of interest: 
 (a) in the case of a tranche of Dollar Interest-bearing Notes with no Derivative
Agreement for interest, the rate of interest applicable to that tranche on that date; 
 (b) in the case of a tranche of Discount Notes, the
rate of accretion (converted to an accrual rate) of that tranche on that date; 
 (c) in the case of a tranche of Notes with a payment due
under a Performing Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue on that date (prior to the netting of such payments, if applicable); and 
 (d) in the case of a tranche of Notes with a non-Performing Derivative Agreement for interest, the rate specified for that date in the related terms
document. 
 Section 1.02. Governing Law; Submission to Jurisdiction; Agent for Service of Process. This Terms Document shall be
governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflict of laws. The parties hereto declare that it is their intention that this Terms Document shall be regarded as made under the laws
of the State of Delaware and that the laws of said State shall be applied in interpreting its provisions in all cases where legal interpretation shall be required. Each of the parties hereto agrees (a) that this Terms Document involves at least
$100,000.00, and (b) that this Terms Document has been entered into by the parties hereto in express reliance upon 6 DEL. C. § 2708. Each of the parties hereto hereby irrevocably and unconditionally agrees (a) to be subject to
the jurisdiction of the courts of the State of Delaware and of the federal courts sitting in the State of Delaware, and (b)(1) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain
an agent in the State of Delaware as such party’s agent for acceptance of legal process, and (2) that, to the fullest extent permitted by applicable law, service of process may also be made on such party by prepaid certified mail with a
proof of mailing receipt validated by the United States Postal Service constituting evidence of valid service, and that service made pursuant to (b)(1) or (2) above shall, to the fullest extent permitted by applicable law, have the same legal
force and effect as if served upon such party personally within the State of Delaware. 
  

 5 

 Section 1.03. Counterparts. This Terms Document may be executed in any number of
counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04. Ratification of Indenture and Indenture Supplement. As supplemented by this Terms Document, each of the Indenture and the Indenture Supplement is in all respects ratified and confirmed and
the Indenture as so supplemented by the Indenture Supplement as so supplemented and this Terms Document shall be read, taken and construed as one and the same instrument. 
 [END OF ARTICLE I] 
  

 6 

 ARTICLE II 
 The Class A(2006-10) Notes 
 Section 2.01. Creation and Designation. There is hereby
created a tranche of BAseries Class A Notes to be issued pursuant to the Indenture and the BAseries Indenture Supplement to be known as the “BAseries Class A(2006-10) Notes.” 
 Section 2.02. Specification of Required Subordinated Amount and other Terms. 
 (a) For the Class A(2006-10) Notes for any date of determination, the Class A Required Subordinated Amount of Class B Notes will be an amount equal
to 8.82353% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2006-10) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2006-10) Notes shall have occurred, if an Event of Default and
acceleration of the Class A(2006-10) Notes shall have occurred or if the Class A Usage of the Class B Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted Outstanding Dollar Principal Amount of
the Class A(2006-10) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on which the Class A Usage of Class B Required Subordinated
Amount exceeded zero. 
 (b) For the Class A(2006-10) Notes for any date of determination, the Class A Required Subordinated Amount of
Class C Notes will be an amount equal to 8.82353% of (i) the Adjusted Outstanding Dollar Principal Amount of the Class A(2006-10) Notes on such date or (ii) if an Early Redemption Event with respect to the Class A(2006-10) Notes shall have
occurred, if an Event of Default and acceleration of the Class A(2006-10) Notes shall have occurred or if the Class A Usage of the Class C Required Subordinated Amount for such tranche of Class A Notes is greater than zero, the Adjusted
Outstanding Dollar Principal Amount of the Class A(2006-10) Notes as of close of business on the day immediately preceding the occurrence of such Early Redemption Event, such Event of Default and acceleration or the date on which the Class A
Usage of Class C Required Subordinated Amount exceeded zero. 
 (c) The Issuer may change the percentages set forth in clause (a) or
(b) above without the consent of any Noteholder so long as the Issuer has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes of the BAseries that the change in either of such percentages
will not result in a Ratings Effect with respect to any Outstanding Class A(2006-10) Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion and an Issuer Tax Opinion. 
 Section 2.03. Interest Payment. 
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class A(2006-10) Notes 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 related
Interest Period and the denominator of which is 360, times (B) the Note Interest Rate in effect with respect to the related Interest Period, times (ii) the Outstanding Dollar Principal Amount of the Class A(2006-10) Notes
determined as of the Record Date preceding the related Transfer Date. Interest on the Class A(2006-10) Notes will be calculated on the basis of the actual number of days in the related Interest Period and a 360-day year. 
  

 7 

 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Transfer Date, the
Indenture Trustee shall deposit into the Class A(2006-10) Interest Funding sub-Account the portion of BAseries Available Funds allocable to the Class A(2006-10) Notes. 
 Section 2.04. Calculation Agent; Determination of LIBOR. 
 (a) The Issuer hereby agrees that for
so long as any Class A(2006-10) Notes are Outstanding, there shall at all times be an agent appointed to calculate LIBOR for each Interest Period (the “Calculation Agent”). The Issuer hereby initially appoints the Indenture Trustee
as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The Calculation Agent may be removed by the Issuer at any time. If the Calculation Agent is unable or unwilling to act as such or is removed by the Issuer, or if
the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuer shall promptly appoint a replacement Calculation Agent that does not control or is not controlled by or under common control with the Issuer or its Affiliates. The
Calculation Agent may not resign its duties, and the Issuer may not remove the Calculation Agent, without a successor having been duly appointed. 
 (b) On each LIBOR Determination Date, the Calculation Agent shall determine LIBOR on the basis of the rate for deposits in United States dollars for a one-month period which appears on Telerate Page 3750 as of 11:00 a.m., London time, on
such date (or, for the first Interest Period, the rate that corresponds to the actual number of days in the first Interest Period). If such rate does not appear on Telerate Page 3750, the rate for that LIBOR Determination Date shall 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 one-month period. The Calculation Agent
shall 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 shall be the arithmetic mean of the quotations. If
fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by four major banks in New York City, selected by the Beneficiary, 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 one-month period. 
 (c) The Note Interest Rate
applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning the Indenture Trustee at its corporate trust office at (212) 815-3247 or such other telephone number as shall be designated by the
Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time to time. 
 (d) On each
LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee and the Beneficiary, by facsimile transmission, notification of LIBOR for the following Interest Period. 
  

 8 

 Section 2.05. Payments of Interest and Principal. 
 (a) Any installment of interest or principal, if any, payable on any Class A(2006-10) Note which is punctually paid or duly provided for by the Issuer and
the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2006-10) Note (or one or more Predecessor Notes) is registered on the Record Date, by
wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date
of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record
Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
 (b) The right of the Class A(2006-10) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class A(2006-10) Termination Date. 
 Section 2.06. Form of Delivery of Class A(2006-10) Notes; Depository; Denominations. 
 (a) The Class A(2006-10) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202 and 301(i) of the
Indenture, respectively. 
 (b) The Depository for the Class A(2006-10) Notes shall be The Depository Trust Company, and the Class A(2006-10)
Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class A(2006-10) Notes will be issued in
minimum denominations of $5,000 and multiples of $1,000 in excess of that amount. 
 Section 2.07. Delivery and Payment for the Class
A(2006-10) Notes. The Issuer shall execute and deliver the Class A(2006-10) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class A(2006-10) Notes when authenticated, each in accordance with
Section 303 of the Indenture. 
 Section 2.08. Targeted Deposits to the Accumulation Reserve Account. The deposit
targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 
 [END OF ARTICLE II] 
  

 9 

 ARTICLE III 
 Representations and Warranties 
 Section 3.01. Issuer’s Representations and
Warranties. The Issuer makes the following representations and warranties as to the Collateral Certificate on which the Indenture Trustee is deemed to have relied in acquiring the Collateral Certificate. Such representations and warranties speak
as of the execution and delivery of this Terms Document, but shall survive until the termination of this Terms Document. Such representations and warranties shall not be waived by any of the parties to this Terms Document unless the Issuer has
obtained written confirmation from each Note Rating Agency that there will be no Ratings Effect with respect to such waiver. 
 (a) The
Indenture creates a valid and continuing security interest (as defined in the Delaware UCC) in the Collateral Certificate in favor of the Indenture Trustee, which security interest is prior to all other liens, and is enforceable as such as against
creditors of and purchasers from the Issuer. 
 (b) The Collateral Certificate constitutes either an “account,” a “general
intangible,” an “instrument,” or a “certificated security,” each within the meaning of the Delaware UCC. 
 (c) At
the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the Issuer owned and had good and marketable title to the Collateral Certificate free and clear of any lien, claim or
encumbrance of any Person. 
 (d) The Issuer has caused, within ten days of the execution of the Indenture, the filing of all appropriate
financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to perfect the security interest in the Collateral Certificate granted to the Indenture Trustee pursuant to the Indenture. 
 (e) Other than the security interest granted to the Indenture Trustee pursuant to the Indenture, the Issuer has not pledged, assigned, sold, granted a
security interest in, or otherwise conveyed the Collateral Certificate. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral covering the Collateral
Certificate other than any financing statement relating to the security interest granted to the Indenture Trustee pursuant to the Indenture or any financing statement that has been terminated. The Issuer is not aware of any judgment or tax lien
filings against the Issuer. 
 (f) All original executed copies of the Collateral Certificate have been delivered to the Indenture Trustee.

 (g) At the time of the transfer and assignment of the Collateral Certificate to the Indenture Trustee pursuant to the Indenture, the
Collateral Certificate had no marks or notations indicating that it has been pledged, assigned or otherwise conveyed to any Person other than the Indenture Trustee. 
 [END OF ARTICLE III] 
  

 10 

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

			
	BA CREDIT CARD TRUST, by FIA CARD SERVICES, NATIONAL ASSOCIATION, as Beneficiary and not in its individual capacity
		
	 By:
	 	 /s/ Scott W. McCarthy

		 	Scott W. McCarthy
		 	Senior Vice President
	
	THE BANK OF NEW YORK, as Indenture Trustee and not in its individual capacity
		
	 By:
	 	 /s/ Catherine L. Cerilles

	 Name:
	 	Catherine L. Cerilles
	 Title:
	 	Assistant Vice President

 [Signature Page to the Class A(2006-10) Terms Document]

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