Document:

Exhibit 4.3

    

    

    

    

    FOURTH AMENDMENT TO

    RECEIVABLES PURCHASE AGREEMENT

    

    

    

    

    This FOURTH AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT, dated as of June 11, 2020 (this “Amendment”), is made between Comenity Bank
      (successor to World Financial Network Bank (formerly known as World Financial Network National Bank)), a Delaware state chartered bank (“Comenity Bank”), as RPA Seller (the “RPA
        Seller”), and WFN Credit Company, LLC (“WFN Credit”), as Purchaser (the “Purchaser”), to the Receivables Purchase Agreement, dated as of August 1, 2001,
      between the RPA Seller and the Purchaser (as amended, the “Receivables Purchase Agreement”).  Capitalized terms used and not otherwise defined in this Amendment are used as defined in the Receivables Purchase
      Agreement.

    

    

    WHEREAS, the parties hereto desire to amend the Receivables Purchase Agreement in certain respects as set forth herein;

    

    

    NOW THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto agree
      as follows:

    

    

    SECTION 1.  Amendments to Receivables Purchase Agreement.

    

    

    (a)     Section 2.1(b) of the Receivables Purchase Agreement is hereby amended and restated in its entirety as follows:

    

    

    (b)     RPA Seller hereby transfers, assigns, sets over and otherwise conveys to Purchaser without recourse (except as expressly provided herein), and Purchaser purchases and/or
      accepts as a capital contribution, as applicable, from RPA Seller, all of RPA Seller’s right, title and interest in and to the Receivables now existing and arising from time to time in the Accounts and Related Assets with respect thereto (other than
      the Existing Assets), including Interchange allocated to the Accounts in accordance with Section 5.1(l) from time to time; provided, however, that Principal Receivables originated after the occurrence of an Insolvency Event with
      respect to RPA Seller shall not be conveyed hereunder.

    

    

    (b)     Section 5.1 of the Receivables Purchase Agreement is hereby amended by inserting the following new subsection (l) immediately following subsection (k) thereof:

    

    

    (l)     Interchange.

    

    

    (i)        On or prior to each Determination Date, RPA Seller shall notify the Servicer of the amount of Interchange attributable to the Accounts for the related Monthly Period,
      which amount shall be equal to the product of:

    

    

    (A)     The total amount of Interchange paid to RPA Seller during the preceding Monthly Period; and

    
      
        	 	 	
                Fourth Amendment to Receivables Purchase Agreement

              

        

        

      

      
        

      

    

    

    

    (B)     A fraction the numerator of which is the volume during the preceding Monthly Period of sales net of cash advances with respect to all Accounts that are general purpose
      accounts (including any co-branded accounts with a general purpose charging feature) and the denominator of which is the amount of sales net of cash advances during such Monthly Period with respect to all such accounts owned by RPA Seller in Approved
      Portfolios;

    

    

    or such other amount as RPA Seller may reasonably calculate or estimate as Interchange attributable to the Accounts; provided that the
      amount of Interchange determined pursuant to this clause (i) shall exclude Interchange with respect to Receivables reassigned to the RPA Seller pursuant to Sections 6.1 or 6.2.

    

    

    (ii)     On each Transfer Date, RPA Seller shall pay to the Servicer the amount of Interchange determined pursuant to clause (i) above and such amount shall be treated as
      Collections of Finance Charge Receivables for the related Monthly Period.

    

    

    

    

    SECTION 2.  Conditions to Effectiveness. This Amendment shall become effective on the date (the “Effective Date”) upon which (i) each
      of the parties hereto receive counterparts of this Amendment, duly executed and delivered by each of the parties hereto and (ii) each of the conditions precedent described in Section 9.1 of the Receivables Purchase Agreement are satisfied.

    

    

    SECTION 3.  Effect of Amendment; Ratification.  (a) On and after the Effective Date, this Amendment shall be a part of the
      Receivables Purchase Agreement and each reference in the Receivables Purchase Agreement to “this Agreement” or “hereof,” “hereunder” or words of like import, and each reference in any other Transaction Document to the Receivables Purchase Agreement
      shall mean and be a reference to the Receivables Purchase Agreement as amended hereby.

    

    

    (b)  Except as expressly amended hereby, the Receivables Purchase Agreement shall remain in full force and effect and is hereby ratified and confirmed by the parties hereto.

    

    

    SECTION 4.  Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF
      LAWS PROVISIONS.

    

    

    SECTION 5.  Section Headings.  Headings used herein are for convenience of reference only and shall not affect the meaning of this Amendment.

    

    

    SECTION 6.  Counterparts.  This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties
      hereto may execute this Amendment by signing any such counterpart.  Delivery by facsimile or electronic transmission of an executed signature page of this Amendment shall be effective as delivery of an executed counterpart hereof.  Each party agrees
      that this Amendment may be electronically signed, and that any electronic signatures appearing on this Amendment are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility.

    

    

    [Signature Page Follows]

    
      
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                Fourth Amendment to Receivables Purchase Agreement

              

        

        

      

      
        

      
        

        

      

    

    IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.

    

    

    WFN CREDIT COMPANY, LLC, as Purchaser

    

    

    By:  /s/ Michael Blackham

           Name: Michael Blackham

           Title: Treasurer

    

    

    

    

    

    

    COMENITY BANK,

    as RPA Seller

    

    

    By:  /s/ Gregory Opincar

           Name:  Gregory Opincar

           Title: Chief Financial Officer

     

    

     

    

     

    

    

    

    
      	 	 	
              Fourth Amendment to Receivables Purchase AgreementExhibit 4.4

    

    

    

    

    OMNIBUS AMENDMENT

    

    

    This OMNIBUS AMENDMENT, dated as of June 11, 2020 (this “Amendment”), is made between World
      Financial Network Credit Card Master Note Trust, as Issuer (the “Issuer”), and MUFG Union Bank, N.A. (“MUFG”), formerly known as Union Bank, N.A., as successor in
      interest to The Bank of New York Mellon Trust Company, N.A., formerly known as The Bank of New York Trust Company, N.A., as Indenture Trustee (in such capacity, the “Indenture Trustee”) under the Master
      Indenture, dated as of August 1, 2001 (as further amended from time to time prior to the date hereof, the “Master Indenture”), between the Issuer and the Indenture Trustee, to the Indenture Supplements for the
      Series 2015-B Notes, the Series 2016-A Notes, the Series 2017-C Notes, the Series 2018-A Notes, the Series 2018-B Notes, the Series 2018-C Notes, the Series 2019-A Notes, the Series 2019-B Notes and the Series 2019-C Notes (collectively, the “Indenture Supplements”), each between the Issuer and the Indenture Trustee, and acknowledged and accepted by Comenity Bank, formerly known as World Financial Network Bank, as Servicer, and WFN Credit Company, LLC,
      as Transferor. Capitalized terms used and not otherwise defined in this Amendment are used as defined in the Master Indenture.

    

    

    Background

    

    

    A.     The parties hereto have previously entered into the Indenture Supplements to create and designate new Series of Notes.

    

    

    B.     The parties hereto wish to amend such Indenture Supplements, all as set out in this Amendment.

    

    

    1.     Amendments to the Indenture Supplements.

    

    

    (a)     Section 2.1(a) of each Indenture Supplement is hereby amended by inserting the following definition therein in appropriate alphabetical order:

    

    

    “Investor Interchange Allocation Percentage” means, with respect to any Monthly Period, the Allocation Percentage for such Monthly Period with respect to Finance Charge
      Receivables (or, if a Reset Date occurs during such Monthly Period, the average such Allocation Percentage for such Monthly Period determined as the quotient of the summation of the Allocation Percentages with respect to Finance Charge Receivables
      for all days during such Monthly Period, divided by the number of days in such Monthly Period).

    

    

    “Investor Interchange Amount” means, with respect to any Monthly Period, an amount equal to the product of (a) the amount of Interchange attributed to the Accounts for such
      Monthly Period pursuant to Section 5.1(l) of the Receivables Purchase Agreement and (b) the Investor Interchange Allocation Percentage for such Monthly Period.

    

    

    (b)     Section 4.1 of each Indenture Supplement is hereby amended as follows:

    

    

    (i)     clause (b)(i) thereof is hereby amended by inserting the phrase “or the aggregate amount of Principal Receivables plus amounts on deposit in the Excess
      Funding Account is less than the Required Principal Balance” following the phrase “Specified Transferor Amount” where it appears in the last proviso thereof;

    
      
         Omnibus Amendment

      

      
        

      

    

    

    

    (ii)     clause (b)(ii)(x)(1) thereof is hereby amended by inserting the phrase “and the aggregate amount of Principal Receivables plus amounts on deposit in the
      Excess Funding Account is not less than the Required Principal Balance” following the phrase “Specified Transferor Amount” where it appears in subclause (III) thereof;

    

    

    (iii)     clause (b)(ii)(y) thereof is hereby amended by inserting the phrase “and the aggregate amount of Principal Receivables plus amounts on deposit in the
      Excess Funding Account is not less than the Required Principal Balance” following the phrase “Specified Transferor Amount” where it appears in subclause (IV) thereof;

    

    

    (iv)     clause (b)(ii)(z) thereof is hereby amended by inserting the phrase “and the aggregate amount of Principal Receivables plus amounts on deposit in the
      Excess Funding Account is not less than the Required Principal Balance” following the phrase “Specified Transferor Amount” where it appears in subclause (IV) thereof; and

    

    

    (v)     the following new subsection (e) is hereby inserted following subsection (d) thereof:

    

    

    (e)     Allocations of Interchange. Notwithstanding anything to the contrary in Section 4.1(b) of this Supplement or in the Indenture, Interchange for each Monthly Period equal to the
      Investor Interchange Amount shall be allocated to the Noteholders of the Series issued pursuant to this Indenture Supplement, and shall be deposited into the Finance Charge Account not later 12:00 noon, New York City time, on the Transfer Date
      following the related Monthly Period.

    

    

    2.     Binding Effect; Ratification.  (a)  This Amendment shall become effective, as of the date first set forth above, when (i)
      counterparts hereof shall have been executed and delivered by the parties hereto and (ii) each of the conditions precedent described in Section 10.1(b) of the Master Indenture has been satisfied, and thereafter shall be binding on the parties
      hereto and their respective successors and assigns.

    

    

    (b)     On and after the execution and delivery hereof, this Amendment shall be a part of each Indenture Supplement and each reference in any Indenture Supplement to “this Indenture
      Supplement” or “hereof”, “hereunder” or words of like import, and each reference in any other Transaction Document to any such Indenture Supplement shall mean and be a reference to such Indenture Supplement as amended hereby.

    

    

    (c)     Except as expressly amended hereby, each Indenture Supplement shall remain in full force and effect and is hereby ratified and confirmed by the parties hereto.

    
      
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    3.     Miscellaneous.   (a)  THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE INTERNAL 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.
      EACH OF THE PARTIES TO THIS AMENDMENT HEREBY AGREES TO THE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE COURT HAVING JURISDICTION TO REVIEW THE JUDGMENTS THEREOF. EACH OF THE PARTIES HEREBY
      WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS AND ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER IN ANY OF THE AFOREMENTIONED COURTS AND CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE
      RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT.

    

    

    (b)     Headings used herein are for convenience of reference only and shall not affect the meaning of this Amendment.

    

    

    (c)     This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this
      Amendment by signing any such counterpart.  Delivery by facsimile or electronic transmission of an executed signature page of this Amendment shall be effective as delivery of an executed counterpart hereof.  Each party agrees that this Amendment may
      be electronically signed, and that any electronic signatures appearing on this Amendment are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility.

    

    

    (d)     The Indenture Trustee shall not be responsible for the validity or sufficiency of this Amendment nor for the recitals herein.

    

    

    4.     Limitation on Liability.  It is expressly understood and agreed by the parties that (a) this document is executed and delivered by
      U.S. Bank Trust National Association, not individually or personally, but solely as Owner Trustee, in the exercise of the powers and authority conferred and vested in it, pursuant to the Trust Agreement, (b) each of the representations, undertakings
      and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by U.S. Bank Trust National Association but is made and intended for the purpose for binding only the Issuer,
      (c) nothing herein contained shall be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being
      expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (d) under no circumstances shall U.S. Bank Trust National Association be personally liable for the payment of any indebtedness or expenses
      of the Issuer or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Amendment or any other related documents.

    

    

    [Signature Page Follows]

    

    

    

    

    
      
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    IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.

    

    

    

    

    WORLD FINANCIAL NETWORK CREDIT CARD

    MASTER NOTE TRUST, as Issuer

    

    

    By:   U.S. Bank Trust National Association, not in its

              individual capacity, but solely as Owner Trustee

    

    

    By:  /s/ Mirtza J. Escobar

      Name:  Mirtza J. Escobar

      Title:  Vice President

    

    

    

    

    

    

    MUFG UNION BANK, N.A., as Indenture Trustee

    

    

    By:  /s/ D. Amedeo Morreale

      Name:  D. Amedeo Morreale

      Title:  Vice President

    

    

    

    

    

    

    Acknowledged and Accepted:

    

    

    COMENITY BANK,

      as Servicer

    

    

    By:  /s/ Gregory Opincar

      Name:  Gregory Opincar

      Title:  Chief Financial Officer

    

    

    

    

    

    

    WFN CREDIT COMPANY, LLC

        as Transferor

    

    

    By:  /s/ Michael Blackham

      Name:  Michael Blackham

      Title:  Treasurer

    

    

    
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      Omnibus Amendment

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