Common use of SEVERAL SERIES Clause in Contracts

SEVERAL SERIES. The following provisions shall apply where outstanding Loan Notes belong to more than one series: (a) Business which in the opinion of the Security Trustee affects the Loan Notes of only one series shall be transacted at a separate Meeting of the holders of the Loan Notes of that series; (b) Business which in the opinion of the Security Trustee affects the Loan Notes of more than one series but does not give rise to an actual or potential conflict of interest between the holder of the Loan Notes or one such series and the holders of Loan Notes of any other such series shall be transacted either at separate Meetings of the holders of the Loan Notes of each such series or at a single Meeting of the holders of the Loan Notes of all such Series, as the Security Trustee shall in its absolute discretion determine. (c) Business which in the opinion of the Security Trustee affects the Loan Notes of more than one series and gives rise to an actual or potential conflict of interest between the holders of Loan Notes of one such series and the holders of Loan Notes of any other such series shall be transacted at separate Meetings of the holders of the Loan Notes of each such series. (d) The preceding clauses of this Schedule shall be applied as if references to the Loan Notes and Loan Noteholders were to the Loan Notes of the relevant series and to the holders of such Loan Notes. In this clause, "BUSINESS" includes (without limitation) the passing or rejection of any resolution. SCHEDULE 4 NOTICE OF ASSIGNMENT (FOR THE PURPOSES OF THE SECURITY INTERESTS (JERSEY) LAW, 1983) AS AMENDED) (THE "JERSEY SECURITY LAW") To: [person from whom assignor would have claimed collateral but for the assignment] From: RBS Cards Securitisation Funding Limited (the "LOAN NOTE ISSUER")

SEVERAL SERIES. The following provisions shall apply where outstanding Loan Notes belong to more than one seriesSeries: (a) 23.1.1 Business which in the opinion of the Security Note Trustee affects the Loan Notes of only one series Series shall be transacted at a separate Meeting of the holders of the Loan Notes of that series;Series. (b) 23.1.2 Business which in the opinion of the Security Note Trustee affects the Loan Notes of more than one series Series but does not give rise to an actual or potential conflict of interest between the holder of the Loan Notes or one such series Series and the holders of Loan Notes of any other such series Series shall be transacted either at separate Meetings of the holders of the Loan Notes of each such series Series or at a single Meeting of the holders of the Loan Notes of all such Series, as the Security Note Trustee shall in its absolute discretion determine. (c) 23.1.3 Business which in the opinion of the Security Note Trustee affects the Loan Notes of more than one series Series and gives rise to an actual or potential conflict of interest between the holders of Loan Notes of one such series Series and the holders of Loan Notes of any other such series Series shall be transacted at separate Meetings of the holders of the Loan Notes of each such seriesSeries. (d) 23.1.4 The preceding clauses paragraphs of this Schedule shall be applied as if references to the Loan Notes and Loan Noteholders were to the Loan Notes of the relevant series Series and to the holders of such Loan Notes. . 23.1.5 For the avoidance of doubt, any instruction to be given by the Noteholders to the Note Trustee in respect of enforcing the Security created pursuant to Clause 4.1 (Creation of Security) and Clause 4.6 (Assignment of Issuer Jersey Secured Property) of the Arran Funding Note Trust Deed shall be given at a single meeting of holders of the Notes of all Series. 23.1.6 In this clauseparagraph, "BUSINESS" includes (without limitation) the passing or rejection of any resolution. SCHEDULE 4 NOTICE OF ASSIGNMENT (FOR THE PURPOSES OF THE SECURITY INTERESTS (JERSEY) LAW, 1983) AS AMENDED) (THE "JERSEY SECURITY LAW") To: [person from whom assignor would have claimed collateral but for the assignment] From: RBS Cards Securitisation Funding Limited (the "LOAN NOTE ISSUER").

SEVERAL SERIES. The following provisions shall apply where outstanding Loan Notes belong to more than one seriesSeries: (a) 22.1.1 Business which in the opinion of the Security Note Trustee affects the Loan Notes of only one series Series shall be transacted at a separate Meeting of the holders of the Loan Notes of that series;Series. (b) 22.1.2 Business which in the opinion of the Security Note Trustee affects the Loan Notes of more than one series Series but does not give rise to an actual or potential conflict of interest between the holder of the Loan Notes or one such series Series and the holders of Loan Notes of any other such series Series shall be transacted either at separate Meetings of the holders of the Loan Notes of each such series Series or at a single Meeting of the holders of the Loan Notes of all such Series, as the Security Note Trustee shall in its absolute discretion determine. (c) 22.1.3 Business which in the opinion of the Security Note Trustee affects the Loan Notes of more than one series Series and gives rise to an actual or potential conflict of interest between the holders of Loan Notes of one such series Series and the holders of Loan Notes of any other such series Series shall be transacted at separate Meetings of the holders of the Loan Notes of each such seriesSeries. (d) 22.1.4 The preceding clauses paragraphs of this Schedule shall be applied as if references to the Loan Notes and Loan Noteholders were to the Loan Notes of the relevant series Series and to the holders of such Loan Notes. . 22.1.5 For the avoidance of doubt, any instruction to be given by the Noteholders to the Note Trustee in respect of enforcing the Security under Clause 11 (Enforcement) shall be given at a single meeting of holders of the Notes of all Series. 22.1.6 In this clauseparagraph, "BUSINESS" includes (without limitation) the passing or rejection of any resolution. SCHEDULE 4 NOTICE OF ASSIGNMENT (FOR THE PURPOSES OF THE SECURITY INTERESTS (JERSEY) LAW, 1983) AS AMENDED) (THE "JERSEY SECURITY LAW") To: [person from whom assignor would have claimed collateral but for the assignment] From: RBS Cards Securitisation Funding Limited (the "LOAN NOTE ISSUER").