Discover Funding LLC Sample Contracts

LIMITED LIABILITY COMPANY AGREEMENT OF DISCOVER FUNDING LLC
Limited Liability Company Agreement • June 30th, 2015 • Discover Funding LLC • Delaware

This Directors’ Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this Directors’ Agreement and all of which together shall constitute one and the same instrument.

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Contract
Risk Retention Agreement • October 12th, 2018 • Discover Funding LLC • Asset-backed securities • New York

RISK RETENTION AGREEMENT, dated as of October 11, 2018 (this “Agreement”), by and among DISCOVER BANK, a Delaware banking corporation (“Discover Bank”), DISCOVER FUNDING LLC, a Delaware limited liability company (“Discover Funding”), and DISCOVER CARD EXECUTION NOTE TRUST, a Delaware statutory trust (the “Issuer”).

Contract
Risk Retention Agreement • November 1st, 2019 • Discover Funding LLC • Asset-backed securities • New York

RISK RETENTION AGREEMENT, dated as of October 31, 2019 (this “Agreement”), by and among DISCOVER BANK, a Delaware banking corporation (“Discover Bank”), DISCOVER FUNDING LLC, a Delaware limited liability company (“Discover Funding”), and DISCOVER CARD EXECUTION NOTE TRUST, a Delaware statutory trust (the “Issuer”).

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2016-4) TERMS DOCUMENT Dated as of September 21, 2016 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • September 21st, 2016 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2016-4) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of September 21, 2016.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2019-1) TERMS DOCUMENT Dated as of February 1, 2019 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • February 4th, 2019 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2019-1) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of February 1, 2019.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2018-6) TERMS DOCUMENT Dated as of October 11, 2018 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • October 12th, 2018 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2018-6) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of October 11, 2018.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2017-2) TERMS DOCUMENT Dated as of January 20, 2017 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • January 17th, 2017 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2017-2) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of January 20, 2017.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2018-1) TERMS DOCUMENT Dated as of March 14, 2018 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • March 15th, 2018 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2018-1) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of March 14, 2018.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2019-3) TERMS DOCUMENT Dated as of October 31, 2019 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • November 1st, 2019 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2019-3) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of October 31, 2019.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS C(2017-2) TERMS DOCUMENT Dated as of December 7, 2017 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • December 7th, 2017 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS C(2017-2) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of December 7, 2017.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2017-3) TERMS DOCUMENT Dated as of April 25, 2017 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • April 25th, 2017 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2017-3) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of April 25, 2017.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2018-3) TERMS DOCUMENT Dated as of June 26, 2018 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • June 27th, 2018 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2018-3) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of June 26, 2018.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2018-5) TERMS DOCUMENT Dated as of October 11, 2018 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • October 12th, 2018 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2018-5) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of October 11, 2018.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2017-5) TERMS DOCUMENT Dated as of June 30, 2017 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • June 27th, 2017 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2017-5) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of June 30, 2017.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2017-7) TERMS DOCUMENT Dated as of October 10, 2017 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • October 11th, 2017 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2017-7) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of October 10, 2017.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2018-2) TERMS DOCUMENT Dated as of March 14, 2018 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • March 15th, 2018 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2018-2) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of March 14, 2018.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and Indenture Trustee CLASS C(2016-1) TERMS DOCUMENT Dated as of August 26, 2016 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the DiscoverSeries Notes to AMENDED AND...
Indenture Supplement • August 26th, 2016 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS C(2016-1) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of August 26, 2016.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2017-1) TERMS DOCUMENT Dated as of January 20, 2017 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • January 23rd, 2017 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2017-1) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of January 20, 2017.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2019-2) TERMS DOCUMENT Dated as of July 30, 2019 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • July 31st, 2019 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2019-2) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of July 30, 2019.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2017-4) TERMS DOCUMENT Dated as of April 25, 2017 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • April 25th, 2017 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2017-4) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of April 25, 2017.

SECOND AMENDED AND RESTATED MASTER SERVICES AGREEMENT
Master Services Agreement • March 21st, 2018 • Discover Funding LLC • Asset-backed securities • Delaware

This SECOND AMENDED AND RESTATED MASTER SERVICES AGREEMENT (including the Shared Employee Addendum and each Services Addendum hereto, this “Agreement”) by and among Discover Financial Services, a Delaware corporation (“DFS”), Discover Bank, a Delaware banking corporation (including its subsidiaries, “the Bank”), and each of the other parties named on the signature pages hereto (together with DFS and the Bank, each a “Party” and, collectively, the “Parties”), is dated as of March 15, 2018.

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DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2018-4) TERMS DOCUMENT Dated as of July 31, 2018 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • July 31st, 2018 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2018-4) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of July 31, 2018.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS A(2017-6) TERMS DOCUMENT Dated as of August 14, 2017 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • August 14th, 2017 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS A(2017-6) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of August 14, 2017.

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS C(2020-3) TERMS DOCUMENT Dated as of December 9, 2020 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Trust Agreement • December 11th, 2020 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS C(2020-3) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of December 9, 2020.

FIRST AMENDMENT TO THIRD AMENDED AND RESTATED SERVICES ADDENDUM
Services Addendum • July 16th, 2018 • Discover Funding LLC • Asset-backed securities

THIS FIRST AMENDMENT TO THIRD AMENDED AND RESTATED SERVICES ADDENDUM (“Amendment”) is entered into as of July 16, 2018 by and among Discover Products Inc. (“DPI”) and Discover Bank (“DB”).

DISCOVER CARD EXECUTION NOTE TRUST Issuer and U.S. BANK NATIONAL ASSOCIATION Indenture Trustee CLASS C(2019-1) TERMS DOCUMENT Dated as of August 27, 2019 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the...
Indenture Supplement • August 28th, 2019 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS C(2019-1) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of August 27, 2019.

DISCOVER CARD EXECUTION NOTE TRUST DISCOVERSERIES Class A(2019-3) ASSET BACKED NOTES TERMS AGREEMENT Dated: October 24, 2019
Underwriting Agreement • October 25th, 2019 • Discover Funding LLC • Asset-backed securities
DISCOVER CARD EXECUTION NOTE TRUST Issuer and Indenture Trustee CLASS B(2018-1) TERMS DOCUMENT Dated as of August 30, 2018 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the DiscoverSeries Notes to AMENDED AND...
Indenture Supplement • August 30th, 2018 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS B(2018-1) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of August 30, 2018.

DISCOVER CARD EXECUTION NOTE TRUST DISCOVERSERIES Class A(2017-7) ASSET BACKED NOTES TERMS AGREEMENT Dated: October 2, 2017
Underwriting Agreement • October 3rd, 2017 • Discover Funding LLC • Asset-backed securities

Interest Rate or Formula: One-month LIBOR plus 0.36% per year; provided, that if the sum of one-month LIBOR plus 0.36% is less than 0.00% for any interest accrual period, then the Interest Rate for the Notes for such interest accrual period will be deemed to be 0.00%.

DISCOVER CARD EXECUTION NOTE TRUST DISCOVERSERIES Class A(2018-3) ASSET BACKED NOTES TERMS AGREEMENT Dated: June 19, 2018
Underwriting Agreement • June 20th, 2018 • Discover Funding LLC • Asset-backed securities

Interest Rate or Formula: One-month LIBOR plus 0.23% per year; provided, that if the sum of one-month LIBOR plus 0.23% is less than 0.00% for any interest accrual period, then the Interest Rate for the Notes for such interest accrual period will be deemed to be 0.00%.

OMNIBUS AMENDMENT TO SPECIFIED TERMS DOCUMENTS
Omnibus Amendment to Specified Terms Documents • October 26th, 2016 • Discover Funding LLC • Asset-backed securities

THIS OMNIBUS AMENDMENT TO SPECIFIED TERMS DOCUMENTS, dated as of October 26, 2016 (this “Agreement”), is entered into between: (i) Discover Card Execution Note Trust, a Delaware statutory trust, as issuer (the “Issuer”), and (ii) U.S. Bank National Association, a national banking association, as indenture trustee under the Indenture referred to below (in such capacity, the “Indenture Trustee”).

DISCOVER CARD EXECUTION NOTE TRUST Issuer and Indenture Trustee CLASS B(2020-4) TERMS DOCUMENT Dated as of December 9, 2020 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the DiscoverSeries Notes to AMENDED AND...
Indenture Supplement • December 11th, 2020 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS B(2020-4) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of December 9, 2020.

DISCOVER CARD EXECUTION NOTE TRUST DISCOVERSERIES Class A(2017-2) ASSET BACKED NOTES TERMS AGREEMENT Dated: January 13, 2017
Underwriting Agreement • January 17th, 2017 • Discover Funding LLC • Asset-backed securities
DISCOVER CARD EXECUTION NOTE TRUST Issuer and Indenture Trustee CLASS B(2020-2) TERMS DOCUMENT Dated as of December 9, 2020 to SECOND AMENDED AND RESTATED INDENTURE SUPPLEMENT Dated as of December 22, 2015 for the DiscoverSeries Notes to AMENDED AND...
Class B(2020-2) Terms Document • December 11th, 2020 • Discover Funding LLC • Asset-backed securities • New York

THIS CLASS B(2020-2) TERMS DOCUMENT (this “Terms Document”), by and between DISCOVER CARD EXECUTION NOTE TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of December 9, 2020.

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