Monthly Period Uses in DEFINITIONS Clause

DEFINITIONS from Amended and Restated

This SERIES 2017-1 INDENTURE SUPPLEMENT, dated as of April 25, 2017 (this Indenture Supplement), between FIRST NATIONAL MASTER NOTE TRUST, a statutory trust organized and existing under the laws of the State of Delaware (herein, Issuer or the Trust), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as indenture trustee, not in its individual capacity, but solely as indenture trustee (herein, together with its successors in the trusts thereunder as provided in the Indenture referred to below, Indenture Trustee) under the Second Amended and Restated Master Indenture, dated as of September 23, 2016 (the Indenture), between Issuer and Indenture Trustee.

DEFINITIONS. Whenever used in this Indenture 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. 60+-Day Delinquency Rate means, with respect to any Monthly Period, the delinquency rate calculated as the ratio (expressed as a percentage) of the aggregate dollar amount of the 60+-Day Delinquent Receivables to the aggregate dollar amount of all Receivables, measured as of the end of such Monthly Period. 60+-Day Delinquent Receivables means, as of any date of determination, all Receivables (other than repurchased Receivables and Receivables arising in Defaulted Accounts) that are 60 or more days Delinquent as of the last day of the Monthly Period immediately preceding such date of determination, as determined by Servicer in accordance with its customary servicing practices. AAA means the American Arbitration Association. Accumulation Period means, unless a Pay Out Event shall have occurred prior thereto, the period commencing at the opening of business on the Controlled Accumulation Date and ending on the first to occur of (a) the commencement of the Rapid Amortization Period and (b) the Series Termination Date. Accumulation Period Length is defined in Section 4.13. Accumulation Shortfall means (a) for the first Distribution Date during the Accumulation Period, zero; and (b) thereafter, for any Distribution Date during the Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Distribution Date over the amount deposited into the Principal Accumulation Account pursuant to Section 4.04(c)(i) for the previous Distribution Date. Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent of a fraction:

DEFINITIONS from Amended and Restated

This SERIES 2017-1 INDENTURE SUPPLEMENT, dated as of April 25, 2017 (this Indenture Supplement), between FIRST NATIONAL MASTER NOTE TRUST, a statutory trust organized and existing under the laws of the State of Delaware (herein, Issuer or the Trust), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as indenture trustee, not in its individual capacity, but solely as indenture trustee (herein, together with its successors in the trusts thereunder as provided in the Indenture referred to below, Indenture Trustee) under the Second Amended and Restated Master Indenture, dated as of September 23, 2016 (the Indenture), between Issuer and Indenture Trustee.

DEFINITIONS. Whenever used in this Indenture 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. 60+-Day Delinquency Rate means, with respect to any Monthly Period, the delinquency rate calculated as the ratio (expressed as a percentage) of the aggregate dollar amount of the 60+-Day Delinquent Receivables to the aggregate dollar amount of all Receivables, measured as of the end of such Monthly Period. 60+-Day Delinquent Receivables means, as of any date of determination, all Receivables (other than repurchased Receivables and Receivables arising in Defaulted Accounts) that are 60 or more days Delinquent as of the last day of the Monthly Period immediately preceding such date of determination, as determined by Servicer in accordance with its customary servicing practices. AAA means the American Arbitration Association. Accumulation Period means, unless a Pay Out Event shall have occurred prior thereto, the period commencing at the opening of business on the Controlled Accumulation Date and ending on the first to occur of (a) the commencement of the Rapid Amortization Period and (b) the Series Termination Date. Accumulation Period Length is defined in Section 4.13. Accumulation Shortfall means (a) for the first Distribution Date during the Accumulation Period, zero; and (b) thereafter, for any Distribution Date during the Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Distribution Date over the amount deposited into the Principal Accumulation Account pursuant to Section 4.04(c)(i) for the previous Distribution Date. Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent of a fraction:

Definitions from Fixed Rate Note

SERIES 2016-B SUPPLEMENT, dated as of October 6, 2016 (as amended, modified, restated or supplemented from time to time in accordance with the terms hereof, this Series Supplement), by and between Conns Receivables Funding 2016-B, LLC, a limited liability company established under the laws of Delaware, as issuer (the Issuer), and Wells Fargo Bank, National Association, a national banking association validly existing under the laws of the United States of America, as trustee (together with its successors in such capacity under the Base Indenture referred to below, the Trustee), to the Base Indenture, dated as of October 6, 2016, between the Issuer and the Trustee (as amended, modified, restated or supplemented from time to time, exclusive of this Series Supplement, the Base Indenture).

Definitions. In the event that any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Base Indenture, the terms and provisions of this Series Supplement shall govern. All Article, Section or subsection references herein mean Articles, Sections or subsections of the Base Indenture as supplemented by this Series Supplement, except as otherwise provided herein. All capitalized terms not otherwise defined herein are defined in the Base Indenture. Each capitalized term defined herein shall relate only to the Notes. Aggregate Investor Net Loss Amount means, with respect to any Monthly Period, an amount equal to the Outstanding Receivables Balance of all Receivables that became Defaulted Receivables during such Monthly Period (each respective Outstanding Receivables Balance being measured as of the date the relevant Receivable became a Defaulted Receivable) minus any Deemed Collections and Recoveries deposited into the Collection Account during such Monthly Period in respect of Receivables that have become Defaulted Receivables before or during such Monthly Period. Annualized Net Loss Percentage means, with respect to any Monthly Period an amount equal to twelve (12) multiplied by (a) (1) the Outstanding Receivables Balance of all Receivables that became Defaulted Receivables during such Monthly Period, minus (2) all Recoveries during such Monthly Period, divided by (b) the aggregated Outstanding Receivables Balance as of the beginning of the Monthly Period. Annualized Net Loss Trigger means, for any Determination Date, the average of the Annualized Net Loss Percentage for the three Monthly Periods immediately preceding such Determination Date (or, if fewer, the number of Monthly Periods from and after the Cut-Off Date) exceeds (i) 40.00% for any Determination Date up to and including the March, 2018 Determination Date, and (ii) 50.00% thereafter. Available Funds means, with respect to any Monthly Period, distributions received by the Issuer in respect of the Receivables Trust Certificate, representing Collections that were deposited into the Collection Account during such Monthly Period. Back-Up Servicing Agreement means that certain Back-Up Servicing Agreement, dated on or about the date hereof, among Systems & Services Technologies, Inc., as Back-Up Servicer, the Sponsor, Conns Receivables 2016-B Trust, the Issuer, and the Trustee. Base Indenture is defined in the preamble of this Series Supplement. Class A Additional Interest has the meaning specified in Section 5.12(a). Class A Deficiency Amount has the meaning specified in Section 5.12(a). Class A Legal Final Payment Date means October 15, 2018. Class A Monthly Interest has the meaning specified in Section 5.12(a). Class A Noteholder means a Holder of a Class A Note. Class A Note Principal Amount means, as of any date of determination, the then Outstanding principal amount of the Class A Notes. Class A Note Rate means a fixed rate equal to 3.73%. Class A Notes is defined in the Designation of this Series Supplement. Class A Required Interest Distribution has the meaning specified in subsection 5.15(a)(iii). Class B Additional Interest has the meaning specified in Section 5.12(b). Class B Deficiency Amount has the meaning specified in Section 5.12(b). Class B Legal Final Payment Date means March 15, 2019. Class B Monthly Interest has the meaning specified in Section 5.12(b). Class B Noteholder means a Holder of a Class B Note. Class B Note Principal Amount means, as of any date of determination, the then Outstanding principal amount of the Class B Notes. Class B Note Rate means a fixed rate equal to 7.34%. Class B Notes is defined in the Designation of this Series Supplement. Class B Required Interest Distribution has the meaning specified in subsection 5.15(a)(v). Class C Additional Interest has the meaning specified in Section 5.12(c). Class C Deficiency Amount has the meaning specified in Section 5.12(c). Class C Legal Final Payment Date means November 16, 2020. Class C Monthly Interest has the meaning specified in Section 5.12(c). Class C Noteholder means a Holder of a Class C Note. Class C Note Principal Amount means, as of any date of determination, the then Outstanding principal amount of the Class C Notes. Class C Note Rate means a fixed rate equal to 8.50%. Class C Notes is defined in the Designation of this Series Supplement. Class C Required Interest Distribution has the meaning specified in subsection 5.15(a)(vii). Class R Noteholder means a Holder of a Class R Note. Class R Notes is defined in the Designation of this Series Supplement. Closing Date means October 6, 2016. Code means the Internal Revenue Code of 1986, as amended. Conns, Inc. means Conns, Inc., a Delaware corporation. Contingent Liability means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to

DEFINITIONS from Amended and Restated

This SERIES [201 - ] INDENTURE SUPPLEMENT, dated as of [ ], 20[ ] (this Indenture Supplement), between FIRST NATIONAL MASTER NOTE TRUST, a statutory trust organized and existing under the laws of the State of Delaware (herein, Issuer or the Trust), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as indenture trustee, not in its individual capacity, but solely as indenture trustee (herein, together with its successors in the trusts thereunder as provided in the Indenture referred to below, Indenture Trustee) under the Second Amended and Restated Master Indenture, dated as of September 23, 2016 (the Indenture), between Issuer and Indenture Trustee.

DEFINITIONS. Whenever used in this Indenture 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. 60+-Day Delinquency Rate means, with respect to any Monthly Period, the delinquency rate calculated as the ratio (expressed as a percentage) of the aggregate dollar amount of the 60+-Day Delinquent Receivables to the aggregate dollar amount of all Receivables, measured as of the end of such Monthly Period. 60+-Day Delinquent Receivables means, as of any date of determination, all Receivables (other than repurchased Receivables and Receivables arising in Defaulted Accounts) that are 60 or more days Delinquent as of the last day of the Monthly Period immediately preceding such date of determination, as determined by Servicer in accordance with its customary servicing practices. AAA means the American Arbitration Association. Accumulation Period means, unless a Pay Out Event shall have occurred prior thereto, the period commencing at the opening of business on the Controlled Accumulation Date and ending on the first to occur of (a) the commencement of the Rapid Amortization Period and (b) the Series Termination Date. Accumulation Period Length is defined in Section 4.13. Accumulation Shortfall means (a) for the first Distribution Date during the Accumulation Period, zero; and (b) thereafter, for any Distribution Date during the Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Distribution Date over the amount deposited into the Principal Accumulation Account pursuant to subsection 4.04(c)(i) for the previous Distribution Date. Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent of a fraction:

Definitions from Transfer and Servicing Agreement

This SECOND AMENDED AND RESTATED TRANSFER AND SERVICING AGREEMENT (this Agreement), dated as of September 23, 2016, among FIRST NATIONAL FUNDING LLC, a Nebraska limited liability company, as Transferor, FIRST NATIONAL BANK OF OMAHA, a national banking association, as Servicer, and FIRST NATIONAL MASTER NOTE TRUST, a statutory trust organized under the laws of the State of Delaware, as Issuer, amends and restates, in its entirety, the First Amended and Restated Transfer and Servicing Agreement, dated as of December 20, 2012 (the Existing TSA). This Agreement constitutes an amendment of the Existing TSA pursuant to Section 9.01(a) of the Existing TSA.

Definitions. Capitalized terms used herein and not otherwise defined herein are defined in Annex A to Indenture. 60+-Day Delinquency Rate means, with respect to any Monthly Period, the delinquency rate calculated as the ratio (expressed as a percentage) of the aggregate dollar amount of the 60+-Day Delinquent Receivables to the aggregate dollar amount of all Receivables, measured as of the end of such Monthly Period. 60+-Day Delinquent Receivables means, as of any date of determination, all Receivables (other than repurchased Receivables and Receivables arising in Defaulted Accounts) that are 60 or more days Delinquent as of the last day of the Monthly Period immediately preceding such date of determination, as determined by Servicer in accordance with its customary servicing practices. AAA means the American Arbitration Association. Asset Representations Review means any review conducted by the Asset Representations Reviewer pursuant to Section 4.19 of any related Indenture Supplement and the Asset Representations Review Agreement with respect to the Subject Receivables and the related Accounts for compliance with the Pool Asset Representations in order to determine, with respect to each Subject Receivable and the related Account, whether the Pool Asset Representations were accurate in all material respects. Asset Representations Review Agreement means that certain Asset Representations Review Agreement, among Issuer, Transferor, Servicer and the Asset Representations Reviewer, as the same may be amended, amended and restated, modified or supplemented from time to time. Asset Representations Reviewer shall have the meaning assigned to such term in the Asset Representations Review Agreement. Delinquency Trigger means each occurrence, as determined by Servicer, where the Three-Month Average 60+-Day Delinquency Rate equals or exceeds the then current Delinquency Trigger Rate. Delinquency Trigger Rate shall mean, initially, 9.00%, which percentage will be reviewed and may be adjusted from time to time by Transferor pursuant to Section 4.19(b) of any related Indenture Supplement. Pool Asset Representations means, collectively, (i) the representations and warranties made by the Transferor relating to the Receivables under Section 2.04(a)(viii) and (ix) of this Agreement and (ii) the representations and warranties made by the RPA Seller relating to the Receivables under Section 4.02(a)(vii) and (viii) of the Receivables Purchase Agreement. Qualified Dispute Resolution Professional means an attorney or retired judge that is independent, impartial, knowledgeable and experienced with the laws of the State of New York, specializing in commercial litigation with at least 15 years of experience and whose name is on a list of neutral parties maintained by the AAA. Representing Party shall have the meaning assigned to such term in Section 2.09(a) of this Agreement. Requesting Party shall have the meaning assigned to such term in Section 2.09(a) of this Agreement. Rules means the Commercial Arbitration Rules and Mediation Procedures in effect on the date any third-party mediation or third-party arbitration, as applicable, is initiated by the Requesting Party pursuant to Section 2.09 of this Agreement. Subject Receivables means, with respect to an Asset Representations Review conducted by the Asset Representations Reviewer pursuant to Section 4.19 of the related Indenture Supplement or Indenture Supplements and the Asset Representations Review Agreement, the 60+-Day Delinquent Receivables arising in the Accounts specified on an account schedule prepared by Servicer and delivered to Asset Representations Reviewer for the purposes of an Asset Representations Review. For the avoidance of doubt, on the date that the conditions for an Asset Representations Review have been satisfied, any Receivable that is repurchased or reassigned to Transferor pursuant to the Transfer and Servicing Agreement or the RPA Seller pursuant to the Receivables Purchase Agreement, as applicable, on and after such date will not be a Subject Receivable. Three-Month Average 60+-Day Delinquency Rate means, as of any date of determination, (a) the sum of the 60+-Day Delinquency Rates for three Monthly Periods immediately preceding such date of determination, divided by (b) three (3). TSA Repurchase Request shall have the meaning assigned to such term in Section 2.09(a) of this Agreement. United States Arbitration Act means the Federal Arbitration Act, 9 U.S.C. SS1 et. seq. (2012). Verified Note Owner shall, with respect to any Series, have the meaning assigned to such term, if any, in the related Indenture Supplement.

Definitions from Amended and Restated

This SECOND AMENDED AND RESTATED TRANSFER AGREEMENT among AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION VIII LLC, a Delaware limited liability company, as transferor (the Transferor), AMERICAN EXPRESS ISSUANCE TRUST II, a statutory trust created under the laws of the State of Delaware, as issuer (the Issuer or the Trust), and THE BANK OF NEW YORK MELLON, a New York banking corporation, in its capacity as indenture trustee (the Indenture Trustee), is made and entered into as of July 29, 2016.

Definitions. Whenever used in this Agreement, 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 to the masculine as well as to the feminine and neuter genders of such terms. 60-Day Delinquency Event means, with respect to any Monthly Period, the 60-Day Delinquency Percentage for such Monthly Period shall have equaled or exceeded the Delinquency Threshold. 60-Day Delinquency Percentage means, with respect to any Monthly Period, the average for the three consecutive Monthly Periods ending with such Monthly Period of the percentage equivalent of a fraction, the numerator of which is the aggregate amount of 60-Day Delinquent Receivables as of the end of the applicable Monthly Period, and the denominator of which is the aggregate amount of all Receivables in the Trust as of the end of the applicable Monthly Period. 60-Day Delinquent Receivable means a Receivable, other than a Defaulted Receivable, that is more than 60 days past the date a payment amount is first due under the applicable Account Agreement. AAA has the meaning specified in subsection 2.18(d). Account means (a) each Initial Account, (b) each Additional Account (but only from and after the Addition Date with respect thereto) and (c) each Related Account. The term Account shall include any account replacing an Account in connection with the transfer of ownership of such Account from an Account Owner to any other Account Owner (provided that such replacement account can be traced or identified by reference to, or by way of, the code designation in the securitization field of such replacement account, which code designation is contained in the computer or other records of the applicable Account Owner or the Servicer used to generate the computer files or microfiche lists delivered to the Indenture Trustee pursuant to Article II). The term Account shall exclude any Account, all the Receivables of which are either (a) reassigned to a Transferor pursuant to Section 2.6 or 2.7 or (b) assigned and transferred to the Servicer pursuant to Section 3.2 of the Servicing Agreement. The term Account shall include any Removed Account only prior to the Removal Date with respect thereto. Account Agreement means, with respect to an Account, the agreements between an Account Owner and an Obligor governing the terms and conditions of such Account, as such agreements may be amended, modified or otherwise changed from time to time. Account Assignment means, collectively, any Aggregate Addition Account Assignment and New Account Assignment. Account Guidelines means, with respect to the Accounts of each Account Owner, the established policies and procedures of such Account Owner, (a) relating to the operation of its charge business 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 charge privileges to customers and (b) relating to the maintenance of accounts and collection of receivables, in each case as such policies and procedures may be amended, modified or otherwise changed from time to time. Account Owner means, with respect to an Account, Centurion, FSB, any successor or affiliate thereof or any other entity that, pursuant to the Account Agreement related to such Account, is the issuer of the charge account related to, or the owner of, such Account; provided that the Transferor shall notify each Note Rating Agency promptly following the designation of any Account Owner other than Centurion, FSB or any successor or affiliate thereof. Addition Cut Off Date means (i) with respect to Aggregate Addition Accounts, the date specified as such in the notice delivered with respect thereto pursuant to subsection 2.13(c) and (ii) with respect to each New Account, the date on which such New Account is originated. Addition Date means (i) with respect to Aggregate Addition Accounts, the date from and after which such Aggregate Addition Accounts are to be included as Accounts pursuant to subsection 2.13(a) or (b), (ii) with respect to Collateral Certificates, the date from and after which such Collateral Certificates are to be included as part of the Trust Assets pursuant to subsection 2.13(a) or (b) and (iii) with respect to each New Account, the close of business on the last day of the Monthly Period in which such New Account was originated. Addition Limit means, unless and until each Note Rating Agency otherwise consents in writing, (i) the aggregate number of Additional Accounts designated with respect to any three consecutive Monthly Periods shall not exceed 15% of the aggregate number of Accounts as of the first day of such three-month period, (ii) the aggregate number of Additional Accounts designated with respect to any twelve consecutive Monthly Periods shall not exceed 20% of the aggregate number of Accounts as of first day of such twe

Definitions from Agreement

This ASSET REPRESENTATIONS REVIEW AGREEMENT (this Agreement) is made and entered into as of the 29th day of July, 2016 (the Engagement Date), by and among AMERICAN EXPRESS RECEIVABLES FINANCING CORPORATION VIII LLC, a Delaware limited liability company, as Transferor (the Transferor), AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC. (TRS), a New York corporation, as Servicer (in such capacity, the Servicer), and CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company, as Asset Representations Reviewer, and acknowledged and accepted by American Express Centurion Bank and American Express Bank, FSB, as account owners (the Account Owners and, collectively with the Transferor and TRS, the Representation Parties), TRS and The Bank of New York Mellon, as Indenture Trustee (the Indenture Trustee).

Definitions. Whenever used in this Agreement, the following words and phrases shall have the following meanings: 60-Day Delinquency Percentage shall mean, with respect to any Monthly Period, the 60-Day Delinquency Percentage, as reported in the Trusts monthly Distribution Report on Form 10-D with respect to such Monthly Period. Account Owners has the meaning stated in the first paragraph hereof. Adverse Effect has the meaning set forth in Section 1.01 of the Indenture. Agreement has the meaning stated in the first paragraph hereof. Annual Fee has the meaning stated in Section 4.01(a). Annual Period shall mean (i) the period from and including the Engagement Date to but excluding the first anniversary of the Engagement Date, and (ii) the period from an including each anniversary of the Engagement Date to but excluding the immediately succeeding anniversary of the Engagement Date. Ancillary Agreement shall mean the Consultation Services Agreement for Reg AB II Asset Representations Review Framework Development Services, dated as of July 10, 2015, as amended and supplemented from time to time. Client Records has the meaning stated in Section 3.12. Confidential Information has the meaning stated in Section 7.01(a). Covered Representations shall mean those representations and warranties identified within the Tests included in Exhibit A. Covered Series shall mean each Series issued pursuant to an Indenture Supplement to the Indenture with respect to which the Asset Representations Reviewers engagement is confirmed under Section 2.17 of the Transfer Agreement. Delinquency Threshold shall mean, with respect to any Monthly Period, the Delinquency Threshold, as reported in the Trusts monthly Distribution Report on Form 10-D with respect to such Monthly Period. Disclosing Party has the meaning stated in Section 7.01(a). Disqualification Event has the meaning stated in Section 6.01. Eligible Asset Representations Reviewer shall mean a Person who (i) is not an Affiliate of the Account Owners, the Transferor, the Servicer, the Indenture Trustee or any of their Affiliates and (ii) has not been engaged, and is not Affiliated with a Person that has been engaged, by the Account Owners, TRS, the Transferor or any underwriter to perform pre-closing due diligence work on the Accounts or the Receivables. Engagement Date has the meaning stated in the first paragraph hereof. Force Majeure Event shall mean a failure or delay in the performance of a partys obligations as set forth in this Agreement that arise out of or are caused by, directly or indirectly, forces beyond a partys control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services. Indemnified Amex Person has the meaning stated in Section 5.04. Indemnified ARR Person has the meaning stated in Section 5.03. Indenture means the Second Amended and Restated Indenture, dated as of July 29, 2016, between the Trust and the Indenture Trustee, as the same may be further amended, supplemented or otherwise modified from time to time. Indenture Supplement has the meaning specified in the Indenture. Indenture Trustee has the meaning stated in the first paragraph hereof. Party shall mean (i) on the one hand, the Asset Representations Reviewer and (ii) on the other hand, the Transferor and the Servicer, collectively. PII and Personally Identifiable Information have the respective meanings stated in Section 7.02(a). Privacy Laws has the meaning stated in Section 7.02(a). Receivables Purchase Agreement means (i) any receivables purchase agreement entered into between an Account Owner and TRS for the sale of receivables which TRS then sells to the Transferor and (ii) any receivables purchase agreement entered into between the Transferor and TRS or an Account Owner for the sale of receivables which such Transferor then transfers to the Trust, as the same may be amended, restated, supplemented or otherwise modified from time to time. Representation Parties has the meaning stated in the first paragraph hereof. Representatives has the meaning stated in Section 7.01(a). Review shall mean the completion by the Asset Representations Reviewer of the procedures listed under Tests in Exhibit A for each Review Account and Review Receivable as further described in Article III. Review Accounts shall mean those Accounts identified by the Servicer as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice in accordance with Section 3.02. Review Fee has the meaning stated in Section 4.01(b). Review Materials shall mean the documents, data, and other information required for each Test as set forth in Exhibit A. Review Notice shall mean a notice delivered pursuant to Section 4.15 of the Supplement relating to any Covered Series. Review Receivables shall

Definitions from Agreement

This ASSET REPRESENTATIONS REVIEW AGREEMENT (this Agreement) is made and entered into as of the 20th day of July, 2016 (the Engagement Date), by and 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 (the Transferors), AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., a New York corporation, as Servicer (in such capacity, the Servicer), and CLAYTON FIXED INCOME SERVICES LLC, a Delaware limited liability company, as Asset Representations Reviewer, and acknowledged and accepted by American Express Centurion Bank and American Express Bank, FSB, as account owners (the Account Owners and, collectively with the Transferors, the Representation Parties), and The Bank of New York Mellon, as Trustee (the Trustee).

Definitions. Whenever used in this Agreement, the following words and phrases shall have the following meanings: 60-Day Delinquency Percentage shall mean, with respect to any Monthly Period, the 60-Day Delinquency Percentage, as reported in the Trusts monthly Distribution Report on Form 10-D with respect to such Monthly Period. Account Owners has the meaning stated in the first paragraph hereof. Adverse Effect has the meaning set forth in Section 1.01 of the Pooling and Servicing Agreement. Agreement has the meaning stated in the first paragraph hereof. Ancillary Agreement shall mean the Consultation Services Agreement for Reg AB II Asset Representations Review Framework Development Services, dated as of July 10, 2015, as amended and supplemented from time to time. Annual Fee has the meaning stated in Section 4.01(a). Annual Period shall mean (i) the period from and including the Engagement Date to but excluding the first anniversary of the Engagement Date, and (ii) the period from an including each anniversary of the Engagement Date to but excluding the immediately succeeding anniversary of the Engagement Date. Client Records has the meaning stated in Section 3.12. Confidential Information has the meaning stated in Section 7.01(a). Covered Representations shall mean those representations and warranties identified within the Tests included in Exhibit A. Covered Series shall mean each Series issued pursuant to a Supplement to the Pooling and Servicing Agreement with respect to which the Asset Representations Reviewers engagement is confirmed under Section . Delinquency Threshold shall mean, with respect to any Monthly Period, the Delinquency Threshold, as reported in the Trusts monthly Distribution Report on Form 10-D with respect to such Monthly Period. Disclosing Party has the meaning stated in Section 7.01(a). Disqualification Event has the meaning stated in Section 6.01. Eligible Asset Representations Reviewer shall mean a Person who (i) is not an Affiliate of the Account Owners, the Transferors, the Servicer, the Trustee or any of their Affiliates and (ii) has not been engaged, and is not Affiliated with a Person that has been engaged, by the Account Owners, Transferors or any underwriter to perform pre-closing due diligence work on the Accounts or the Receivables. Engagement Date has the meaning stated in the first paragraph hereof. Force Majeure Event shall mean a failure or delay in the performance of a partys obligations as set forth in this Agreement that arise out of or are caused by, directly or indirectly, forces beyond a partys control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services. Indemnified Amex Person has the meaning stated in Section 5.04. Indemnified ARR Person has the meaning stated in Section 5.03. Party shall mean (i) on the one hand, the Asset Representations Reviewer and (ii) on the other hand, the Transferors and the Servicer, collectively. PII and Personally Identifiable Information have the respective meanings stated in Section 7.02(a). Pooling and Servicing Agreement shall mean the Third Amended and Restated Pooling and Servicing Agreement, dated as of July 20, 2016, as supplemented by the Supplement relating to each Covered Series. Privacy Laws has the meaning stated in Section 7.02(a). Representation Parties has the meaning stated in the first paragraph hereof. Representatives has the meaning stated in Section 7.01(a). Review shall mean the completion by the Asset Representations Reviewer of the procedures listed under Tests in Exhibit A for each Review Account and Review Receivable as further described in Article III. Review Accounts shall mean those Accounts identified by the Servicer as requiring a Review by the Asset Representations Reviewer following receipt of a Review Notice in accordance with Section 3.02. Review Fee has the meaning stated in Section 4.01(b). Review Materials shall mean the documents, data, and other information required for each Test as set forth in Exhibit A. Review Notice shall mean a notice delivered pursuant to Section 4.15 of the Supplement relating to any Covered Series. Review Receivables shall mean the Receivables relating to the Review Accounts. Review Report has the meaning stated in Section 3.07. Tests shall mean the procedures listed in Exhibit A as applied to the process described in Article III. Test Complete has the meaning stated in Section 3.05. Test Fail has the meaning stated in Section 3.05. Test Incomplete has the meaning stated in Section 3.04. Test Pass has the meaning stated in Section 3.05. Transaction Documents shall mean the Pooling and Servicing Agreement and each Receivables Purchase Agreement. Transferors has the meaning stated in the first paragraph hereof. Trust has the meaning stated in recital

Definitions from Pooling and Servicing Agreement

THIRD AMENDED AND RESTATED POOLING AND SERVICING AGREEMENT, dated as of July 20, 2016, among (i) 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; (ii) AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., a New York corporation, as Servicer; and (iii) THE BANK OF NEW YORK MELLON, a New York banking corporation, as Trustee and as Securities Intermediary.

Definitions. Whenever used in this Agreement, 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 to the masculine as well as to the feminine and neuter genders of such terms. 60-Day Delinquency Event shall mean, with respect to any Monthly Period, the 60-Day Delinquency Percentage for such Monthly Period shall have equaled or exceeded the Delinquency Threshold. 60-Day Delinquency Percentage shall mean, with respect to any Monthly Period, the average for the three consecutive Monthly Periods ending with such Monthly Period of the percentage equivalent of a fraction, the numerator of which is the aggregate amount of 60-Day Delinquent Receivables as of the end of the applicable Monthly Period, and the denominator of which is the aggregate amount of all Receivables in the Trust as of the end of the applicable Monthly Period. 60-Day Delinquent Receivable shall mean a Receivable, other than a Defaulted Receivable, that is more than 60 days past the date a payment amount is first due under the applicable Account Agreement. AAA shall have the meaning specified in subsection 4.09(d). 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, but shall exclude (e) any Account, all the Receivables of which are either (i) after the Removal Date, removed by a Transferor pursuant to Section 2.10, (ii) reassigned to a Transferor pursuant to Section 2.05 or (iii) assigned and transferred to the Servicer pursuant to Section 3.03. Account Agreement shall mean, with respect to an Account, the agreement between an Account Owner 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 Owner shall mean, with respect to an Account, Centurion Bank, FSB or any other entity that, pursuant to the Account Agreement related to such Account, is the issuer of the credit or charge cards related to, or the owner of, such Account; provided that the Transferors shall notify Standard & Poors promptly following the designation of any Account Owner other than Centurion Bank or FSB. Accumulation Period shall mean, with respect to any Series, or any Class within a Series, a period following the Revolving Period, which shall be the controlled accumulation period, the principal accumulation period, the rapid accumulation period, the optional accumulation period, the limited accumulation period or other accumulation period, in each case as defined with respect to such Series in the related Supplement. Act shall mean the Securities Act of 1933, as amended. Addition Cut-Off Date shall mean (a) with respect to Aggregate Addition Accounts or Participation Interests, the date specified as such in the notice delivered with respect thereto pursuant to subsection 2.09(c) and (b) with respect to New Accounts, the later of the dates on which such New Accounts are originated or designated pursuant to subsection 2.09(d). Addition Date shall mean (a) with respect to Aggregate Addition Accounts, the date from and after which such Aggregate Addition Accounts are to be included as Accounts pursuant to subsection 2.09(a) or (b), (b) with respect to Participation Interests, the date from and after which such Participation Interests are to be included as assets of the Trust pursuant to subsection 2.09(a) or (b), and (c) with respect to New Accounts, the first Distribution Date following the calendar month in which such New Accounts are originated or designated pursuant to subsection 2.09(a) or (b). Addition Selection Date shall mean, for each Aggregate Addition, the date specified as such in the notice delivered with respect thereto pursuant to subsection 2.09(c). Additional Account shall mean each New Account and each Aggregate Addition Account. Additional Transferor shall have the meaning specified in subsection 2.09(g). Adjusted Invested Amount shall mean, with respect to any Series and for any date, an amount equal to the Adjusted Invested Amount as specified in the related Supplement. Adverse Effect shall mean, with respect to any action, that such action will (a) result in the occurrence of a Pay-Out Event or a Reinvestment Event or (b) materially adversely affect the amount or timing of distributions to be made to the Investor Certificateholders of any Series or Class pursuant to this Agreement and the related Supplement. 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 control

Definitions from Transfer and Servicing Agreement

This SECOND AMENDED AND RESTATED TRANSFER AND SERVICING AGREEMENT (this Agreement), dated as of June [ ], 2016, among FIRST NATIONAL FUNDING LLC, a Nebraska limited liability company, as Transferor, FIRST NATIONAL BANK OF OMAHA, a national banking association, as Servicer, and FIRST NATIONAL MASTER NOTE TRUST, a statutory trust organized under the laws of the State of Delaware, as Issuer, amends and restates, in its entirety, the First Amended and Restated Transfer and Servicing Agreement, dated as of December 20, 2012 (the Existing TSA). This Agreement constitutes an amendment of the Existing TSA pursuant to Section 9.01(a) of the Existing TSA.

Definitions. Capitalized terms used herein and not otherwise defined herein are defined in Annex A to Indenture. 60+-Day Delinquency Rate means, with respect to any Monthly Period, the delinquency rate calculated as the ratio (expressed as a percentage) of the aggregate dollar amount of the 60+-Day Delinquent Receivables to the aggregate dollar amount of all Receivables, measured as of the end of such Monthly Period. 60+-Day Delinquent Receivables means, as of any date of determination, all Receivables (other than repurchased Receivables and Receivables arising in Defaulted Accounts) that are 60 or more days Delinquent as of the last day of the Monthly Period immediately preceding such date of determination, as determined by Servicer in accordance with its customary servicing practices. AAA means the American Arbitration Association. Asset Representations Review means any review conducted by the Asset Representations Reviewer pursuant to Section 4.19 of any related Indenture Supplement and the Asset Representations Review Agreement with respect to the Subject Receivables and the related Accounts for compliance with the Pool Asset Representations in order to determine, with respect to each Subject Receivable and the related Account, whether the Pool Asset Representations were accurate in all material respects. Asset Representations Review Agreement means that certain Asset Representations Review Agreement, dated as of [Month] [Day], [Year] among Issuer, Transferor, Servicer and the Asset Representations Reviewer, as the same may be amended, amended and restated, modified or supplemented from time to time. Asset Representations Reviewer means [Name of Asset Representations Reviewer], a [Name of State] [limited liability company] [corporation], and its successors and any entity resulting from or surviving any consolidation or merger to which it or its successors may be a party, and any successor asset representations reviewer appointed as provided in the Asset Representations Review Agreement. Delinquency Trigger means each occurrence, as determined by Servicer, where the Three-Month Average 60+-Day Delinquency Rate equals or exceeds the then current Delinquency Trigger Rate. Delinquency Trigger Rate shall mean, initially, [ ]%, which percentage will be reviewed and may be adjusted from time to time by Transferor pursuant to Section 4.19(b) of any related Indenture Supplement. Pool Asset Representations means, collectively, (i) the representations and warranties made by the Transferor relating to the Receivables under Section 2.04(a)(viii) and (ix) of this Agreement and (ii) the representations and warranties made by the RPA Seller relating to the Receivables under Section 4.02(a)(vii) and (viii) of the Receivables Purchase Agreement. Qualified Dispute Resolution Professional means an attorney or retired judge that is independent, impartial, knowledgeable and experienced with the laws of the State of New York, specializing in commercial litigation with at least 15 years of experience and whose name is on a list of neutral parties maintained by the AAA. Representing Party shall have the meaning assigned to such term in Section 2.09(a) of this Agreement. Requesting Party shall have the meaning assigned to such term in Section 2.09(a) of this Agreement. Rules means the Commercial Arbitration Rules and Mediation Procedures in effect on the date any third-party mediation or third-party arbitration, as applicable, is initiated by the Requesting Party pursuant to Section 2.09 of this Agreement. Subject Receivables means, with respect to an Asset Representations Review conducted by the Asset Representations Reviewer pursuant to Section 4.19 of the related Indenture Supplement or Indenture Supplements and the Asset Representations Review Agreement, the 60+-Day Delinquent Receivables arising in the Accounts specified on an account schedule prepared by Servicer and delivered to Asset Representations Reviewer for the purposes of an Asset Representations Review. For the avoidance of doubt, on the date that the conditions for an Asset Representations Review have been satisfied, any Receivable that is repurchased or reassigned to Transferor pursuant to the Transfer and Servicing Agreement or the RPA Seller pursuant to the Receivables Purchase Agreement, as applicable, on and after such date will not be a Subject Receivable. Three-Month Average 60+-Day Delinquency Rate means, as of any date of determination, (a) the sum of the 60+-Day Delinquency Rates for three Monthly Periods immediately preceding such date of determination, divided by (b) three (3). TSA Repurchase Request shall have the meaning assigned to such term in Section 2.09(a) of this Agreement. United States Arbitration Act means the Federal Arbitration Act, 9 U.S.C. SS1 et. seq. (2012). Verified Note Owner shall, with respect to any Series, have the meaning assigned to such term, if any, in the related Indenture Supplement.