CAPITAL ONE MULTI-ASSET EXECUTION TRUST CARD SERIES CLASS A(2006-12) ASSET BACKED NOTES TERMS AGREEMENT Dated: September 28, 2006
Exhibit 1.1(b)
CAPITAL ONE MULTI-ASSET EXECUTION TRUST
CARD SERIES
CLASS A(2006-12)
ASSET BACKED NOTES
TERMS AGREEMENT
Dated: September 28, 2006
| To: | CAPITAL ONE MULTI-ASSET EXECUTION TRUST CAPITAL ONE FUNDING, LLC |
| Re: | Underwriting Agreement, dated September 27, 2006 |
Series Designation: Card series
Registration Statement: Nos. 333-130862, 000-000000-00 and 000-000000-00
Terms of the Notes:
| Initial Principal Amount |
Interest Rate or Formula |
Price to Public (1) | ||
| $500,000,000 |
One month LIBOR plus 0.06% per annum | 100.0% |
| (1) | Plus accrued interest, if any, at the applicable rate from October 5, 2006 |
Interest Payment Dates:
The 15th day of each month (or, if not a Business Day, the next succeeding Business Day), commencing November 15, 2006.
Underwriters:
The Underwriters named on Schedule I attached hereto are the “Underwriters” for the purpose of this Agreement and for the purposes of the above-referenced Underwriting Agreement as such Underwriting Agreement is incorporated herein and made a part hereof.
Note Ratings:
Aaa by Xxxxx’x
AAA by Standard & Poor’s
AAA by Fitch
Owner Trustee: Deutsche Bank Trust Company Delaware.
Indenture Trustee: The Bank of New York.
Indenture: The Indenture, dated as of October 9, 2002 and as amended and restated as of January 13, 2006, between Capital One Multi-asset Execution Trust (the “Issuer”) as Issuer and The Bank of New York, as Indenture Trustee.
Asset Pool Supplement: The Asset Pool 1 Supplement, dated as of October 9, 2002 between the Issuer and the Indenture Trustee, as amended and supplemented from time to time.
Indenture Supplement: The Card Series Indenture Supplement, dated as of October 9, 2002.
Terms Document: The Class A(2006-12) Terms Document, dated as of October 5, 2006.
Pooling and Servicing Agreement: The Amended and Restated Pooling and Servicing Agreement, dated as of September 30, 1993 and as amended and restated as of August 1, 2002 and January 13, 2006, respectively, among Capital One Funding, LLC, as Transferor, Capital One Bank, as Servicer and the Bank of New York, as Master Trust Trustee.
Series Supplement: The Series 2002-CC Series Supplement, dated as of October 9, 2002.
Purchase Price:
The purchase price payable by the Underwriters for the Notes covered by this Agreement will be 99.70% of the principal amount of Notes to be issued.
Commissions, Concessions and Discounts:
The Underwriters’ discounts and commissions, the concessions that the Underwriters may allow to certain dealers, and the discounts that such dealers may reallow to certain other dealers, each expressed as a percentage of the principal amount of the Notes, shall be as follows:
| Discounts and Commissions |
Price Concessions |
Reallowance | ||
| 0.300% |
not in excess of 0.180% | not in excess of 0.090% |
2
Reimbursement of Expenses:
The Underwriters shall reimburse the Company for an amount not to exceed $0 for application towards expenses.
Time of Sale:
10:04 a.m. (Eastern Time (U.S.)) on September 28, 2006 (the time the first contract of sale was entered into as designated by the Representatives).
Closing Date:
Pursuant to Rule 15c6-1(d) under the Securities Exchange Act of 1934, as amended, the Underwriters, the Company and the Issuer hereby agree that the Closing Date shall be October 5, 2006, 10:00 a.m., New York City time.
Location of Closing:
Xxxxxx, Xxxxxxxxxx & Xxxxxxxxx LLP
Washington Harbour
0000 X Xxxxxx, XX
Xxxxxxxxxx, XX 00000-0000
Address for Notice to Representative:
Barclays Capital Inc.
as Underwriter and as a Representative
of the Underwriters named in Schedule I
to the Underwriting Agreement
000 Xxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxxxx Xxxxxx
Tel: (000) 000-0000
Fax: (000) 000-0000
Deutsche Bank Securities Inc.
as Underwriter and as a Representative
of the Underwriters named in Schedule I
to the Underwriting Agreement
00 Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxx Xxx
Tel: (000) 000-0000
Fax: (000) 000-0000
3
Underwriters’ Foreign Jurisdiction Distributions:
Pursuant to Section 6(d)(iii) of the Underwriting Agreement, each Underwriter agrees to provide the Company, after the Closing Date, with a list of any foreign jurisdictions to which that Underwriter delivered a written confirmation in connection with its sale of Notes (it being expressly understood, for the avoidance of doubt, that this provision relates only to the initial distribution of the Notes, and not to secondary market sales).
4
The Underwriters agree, severally and not jointly, subject to the terms and provisions of the above-referenced Underwriting Agreement which is incorporated herein in its entirety and made a part hereof, to purchase the principal amount of the above-referenced Series of Notes set forth opposite their names on Schedule I hereto.
| BARCLAYS CAPITAL INC., | ||
| as Underwriter or as a Representative of the | ||
| Underwriters named on Schedule I of the | ||
| Underwriting Agreement | ||
| By: | /s/ Xxxxxx Xxx | |
| Name: | Xxxxxx Xxx | |
| Title: | Associate Director | |
| DEUTSCHE BANK SECURITIES INC., as Underwriter and as a Representative of the | ||
| Underwriters named in Schedule I to this Agreement | ||
| By: | /s/ Xxxxxx Xxx | |
| Name: | Xxxxxx Xxx | |
| Title: | Director | |
| By: | /s/ Xxxxxx Xxxx | |
| Name: | Xxxxxx Xxxx | |
| Title: | Vice President | |
[Signature Page to Capital One Multi-asset Execution Trust (Card series
Class A(2006-12)) Terms Agreement]
| Accepted: | ||||
| CAPITAL ONE MULTI-ASSET EXECUTION TRUST, as Issuer | ||||
| By: | Capital One Funding, LLC, not in its individual | |||
| capacity but solely as Beneficiary on behalf of the Issuer | ||||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Assistant Vice President | |||
| CAPITAL ONE FUNDING, LLC, as Transferor | ||||
| By: | /s/ Xxxxxxx Xxxxx | |||
| Name: | Xxxxxxx Xxxxx | |||
| Title: | Assistant Vice President | |||
| CAPITAL ONE BANK, as a Seller | ||||
| By: | /s/ Xxxxx Xxxxxxxx | |||
| Name: | Xxxxx Xxxxxxxx | |||
| Title: | Managing Vice President, Treasury | |||
| CAPITAL ONE, F.S.B., as a Seller | ||||
| By: | /s/ Xxxxxx X. Xxxxxx | |||
| Name: | Xxxxxx X. Xxxxxx | |||
| Title: | Vice President, Treasury | |||
[Signature Page to Capital One Multi-asset Execution Trust (Card series
Class A(2006-12)) Terms Agreement]
SCHEDULE I
UNDERWRITERS
$500,000,000 Principal Amount of Card series Class A(2006-12) Notes
| Underwriters |
Principal Amount | ||
| Barclays Capital Inc. |
$ | 100,000,000 | |
| Deutsche Bank Securities Inc. |
100,000,000 | ||
| Banc of America Securities LLC |
100,000,000 | ||
| Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated |
100,000,000 | ||
| Xxxxxx Xxxxxxx & Co. Incorporated |
100,000,000 | ||
| Total |
$ | 500,000,000 | |
