EXHIBIT 4.4
FORM OF
AMENDMENT NUMBER 1
TO THE
AMENDED AND RESTATED POOLING AND SERVICING AGREEMENT
THIS AMENDMENT NUMBER 1 TO THE AMENDED AND RESTATED POOLING
AND SERVICING AGREEMENT, dated as of April __, 2002 (this "Amendment") is among
FLEET BANK (RI), NATIONAL ASSOCIATION ("Fleet"), a national banking association,
as Servicer, FLEET CREDIT CARD FUNDING TRUST ("FCCF"), a Delaware business
trust, as Transferor, and BANKERS TRUST COMPANY, a New York banking corporation,
as Trustee (the "Trustee") under the Amended and Restated Pooling and Servicing
Agreement, dated as of December 1, 1993 and amended and restated as of January
1, 2002 (the "Pooling and Servicing Agreement"), among Fleet, as Servicer, FCCF,
as Transferor and Bankers Trust Company, as Trustee for the Fleet Credit Card
Master Trust II.
RECITALS
WHEREAS, Fleet and FCCF wish to amend the Pooling and Servicing
Agreement as provided herein in accordance with Section 13.01(a) of the Pooling
and Servicing Agreement and the Trustee is willing to consent to such amendment
upon the terms provided for herein.
NOW THEREFORE, in consideration of the premises and the
agreements contained herein, the parties hereto agree as follows:
SECTION 1. Amendment to the Introductory Paragraph to the
Pooling and Servicing Agreement. The introductory paragraph to the Pooling and
Servicing Agreement is hereby amended and restated in its entirety to read as
follows:
AMENDED AND RESTATED POOLING AND SERVICING AGREEMENT
dated and effective as of December 1, 1993, as amended and
restated as of January 1, 2002, among FLEET BANK (RI),
NATIONAL ASSOCIATION, a national banking association, as
Servicer, FLEET CREDIT CARD FUNDING TRUST, a Delaware business
trust, as Transferor, and BANKERS TRUST COMPANY, a New York
banking corporation, as Trustee.
SECTION 2. Amendments to Definitions. Section 1.01 of the
Pooling and Servicing Agreement shall be and hereby is amended as follows:
(a) The second sentence of the definition of "Defaulted
Receivables" is amended to read in its entirety as follows:
A Principal Receivable shall become a Defaulted Receivable on the day
on which such Principal Receivable is recorded as charged off on the
Servicer's computer master file of consumer revolving credit card
accounts but, in any event, shall be deemed a Defaulted
Receivable no later than the last day of the Monthly Period in which
the related Account becomes 180 days Contractually Delinquent unless
the Obligor cures such default by making a partial payment which
satisfies the criteria for curing delinquencies set forth in the
applicable Credit Card Guidelines.
(b) The definition of "FCCF" is hereby amended to read in its
entirety as follows:
"FCCF" shall mean Fleet Credit Card Funding Trust, a
Delaware business trust, and its successors and assigns.
(c) The definition of "Requirements of Law" is hereby amended to
read in its entirety as follows:
"Requirements of Law" with respect to any Person shall mean
the certificate of incorporation, certificate of formation,
certificate of trust or articles of association and by-laws, limited
liability company agreement, trust agreement or other organizational
or governing documents of such Person, and any law, treaty, rule or
regulation, or determination of an arbitrator or Governmental
Authority, in each case applicable to or binding upon such Person or
to which such Person is subject, whether Federal, state or local
(including, without limitation, usury laws, the Federal Truth in
Lending Act and Regulation Z and Regulation B of the Board of
Governors of the Federal Reserve System).
SECTION 3. Representations and Warranties of the Transferors Relating
to the Transferors. Subsections 2.03(a) and 2.03(b) of the Pooling and Servicing
Agreement shall be and hereby are amended to read in their entireties, as
follows:
(a) Organization and Good Standing. Such Transferor is a national
banking association, a corporation, a limited liability company or a
business trust, duly organized, created or formed and validly existing
in good standing under the laws of the jurisdiction of its
organization, incorporation, creation or formation and has full power,
authority and legal right to own its properties and conduct its
consumer revolving lending business or its receivables purchase and
transfer business as such properties are presently owned and such
business is presently conducted, to execute, deliver and perform its
obligations under the Receivables Purchase Agreement and each
Assignment thereunder and under this Agreement and each Supplement and
to execute and deliver to the Trustee the Certificates pursuant
hereto.
(b) Due Qualification. Such Transferor is duly qualified to do
business and is in good standing as a foreign entity (or is exempt
from such requirements), and has obtained all necessary licenses and
approvals with respect to such Transferor, in each jurisdiction in
which failure to so qualify or to obtain such licenses and approvals
would render any Cardholder Agreement relating to an Account owned by
such Transferor or any Receivable transferred to the Trustee by such
Transferor unenforceable by such Transferor, the Servicer or the
Trustee or would have a material adverse effect on the interests of
the Certificateholders hereunder or under any Supplement; provided,
however, that no representation or warranty is made with respect to
any qualification, licenses or approvals which the Trustee has or may
be required at any time to obtain, if any, in connection with the
transactions contemplated hereby.
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SECTION 4. Covenants of the Transferors. Section 2.07 of the Pooling
and Servicing Agreement shall be and hereby is amended as follows:
(a) Subsection 2.07(j)(i) is hereby amended to read in its
entirety as follows:
(i) Maintain in full effect its existence, rights and franchises as a
limited liability company or business trust under the laws of the state
of its formation or creation and will obtain and preserve its
qualification to do business in each jurisdiction in which such
qualification is or shall be necessary to protect the validity and
enforceability of this Agreement and the Receivables Purchase Agreement
and each other instrument or agreement necessary or appropriate to
proper administration hereof and permit and effectuate the transactions
contemplated hereby.
(b) Subsection 2.07(j)(vii) is hereby amended to read in its
entirety as follows:
(vii) Conduct its affairs strictly in accordance with its
organizational documents and observe all necessary, appropriate and
customary formalities, including, but not limited to, holding all
regular and special meetings of its governing board appropriate to
authorize all actions of such Transferor, keeping separate and accurate
minutes of such meetings, passing all resolutions or consents necessary
to authorize actions taken or to be taken, and maintaining accurate and
separate books, records and accounts, including, but not limited to,
intercompany transaction accounts. Regular meetings of the governing
board shall be held at least annually.
(c) Subsection 2.07(j)(viii) is hereby amended to read in its
entirety as follows:
(viii) Ensure that its governing board shall at all times include at
least one Independent Director or Independent Trustee (for purposes
hereof, "Independent Director" or "Independent Trustee" shall mean any
member of the governing board of such Transferor that is not and has
not at any time been (x) an officer, agent, advisor, consultant,
attorney, accountant, employee or shareholder of any Affiliate of such
Transferor which is not a special purpose entity, (y) a director of any
Affiliate of such Transferor other than an independent director of any
Affiliate which is a special purpose entity or (z) a member of the
immediate family of any of the foregoing).
(d) Subsection 2.07(j)(xv) is hereby amended to read in its
entirety as follows:
(xv) Ensure that at all times it is adequately capitalized to engage in
the transactions contemplated in its organizational documents.
SECTION 5. Amendment to Exhibit A to the Pooling and Servicing
Agreement. Exhibit A to the Pooling and Servicing Agreement is hereby amended by
deleting the first sentence in the fourth paragraph and inserting the following
language:
This certifies that FLEET CREDIT CARD FUNDING TRUST
is the registered owner of a fractional interest in the assets of a
trust (the "Trust") not allocated to the Certificateholders' Interest
or the interest of any holder of a Supplemental Certificate pursuant to
the Amended and Restated Pooling and Servicing Agreement dated as of
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December 1, 1993, as amended and restated as of January 1, 2002 (as
amended and supplemented, the "Agreement"), between Fleet Credit Card
Funding Trust, a Delaware business trust ("FCCF"), as Transferor, Fleet
Bank (RI), National Association, a national banking association, as
Servicer, and Bankers Trust Company, a New York banking corporation, as
trustee (the "Trustee").
SECTION 6. Amendment to Exhibit B to the Pooling and Servicing
Agreement. Exhibit B to the Pooling and Servicing Agreement is hereby amended by
deleting "Fleet Credit Card Funding, LLC, a Delaware limited liability company"
in the introductory paragraph and inserting the following in its place:
Fleet Credit Card Funding Trust, a Delaware business trust
SECTION 7. Amendment to Exhibit C to the Pooling and Servicing
Agreement. Exhibit C to the Pooling and Servicing Agreement is hereby amended by
deleting "Fleet Credit Card Funding, LLC, a Delaware limited liability company"
in the introductory paragraph and inserting the following in its place:
Fleet Credit Card Funding Trust, a Delaware business trust
SECTION 8. Amendment to Exhibit D to the Pooling and Servicing
Agreement. Exhibit D to the Pooling and Servicing Agreement is hereby amended by
deleting "Fleet Credit Card Funding, LLC" in the introductory paragraph and
inserting "Fleet Credit Card Funding Trust" in its place.
SECTION 9. Amendment to Exhibit E to the Pooling and Servicing
Agreement. Exhibit E to the Pooling and Servicing Agreement is hereby amended as
follows:
(a) The following addressee of Exhibit E-2 is hereby deleted:
[Fleet Credit Card Funding, LLC
000 Xxxxx Xxxx Xxxx
Xxxxx XX EH 066 01L
Xxxxxxx, Xxxxxxxxxxxx 00000
Attention: Xxxxx Xxxxxx, General Counsel
to Fleet Credit Card Funding, LLC]
and the following is inserted in its place:
[Fleet Credit Card Funding Trust
000 Xxxxx Xxxxxxxxx Xxxxx
Xxxxx XX XX 00000X
Xxxxxx, Xxxxxxxx 00000
Attention: President]
(b) The last sentence is hereby amended by deleting "Fleet Credit Card
Funding, LLC" and inserting "Fleet Credit Card Funding Trust" in its place.
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SECTION 10. Effectiveness. The amendments provided for by this
Amendment shall become effective on the date (the "Effective Date") that each of
the following events occur:
(a) FCCF shall have delivered to the Trustee an
Officer's Certificate from FCCF stating that FCCF reasonably believes
that the execution and delivery of this Amendment will not have an
Adverse Effect.
(b) FCCF shall have received from each Rating Agency
written confirmation that the execution and delivery of this Amendment
will not result in the reduction or withdrawal of its current rating of
any outstanding Series or Class of Investor Certificates.
(c) Each of the parties hereto shall have received
counterparts of this Amendment, duly executed by each of the parties
hereto.
SECTION 11. Pooling and Servicing Agreement in Full Force and
Effect as Amended. Except as specifically amended hereby, all of the terms and
conditions of the Pooling and Servicing Agreement shall remain in full force and
effect. All references to the Pooling and Servicing Agreement in any other
document or instrument shall be deemed to mean such Pooling and Servicing
Agreement as amended by this Amendment. This Amendment shall not constitute a
novation of the Pooling and Servicing Agreement, but shall constitute an
amendment thereof. The parties hereto agree to be bound by the terms and
obligations of the Pooling and Servicing Agreement, as amended by this
Amendment, as though the terms and obligations of the Pooling and Servicing
Agreement were set forth herein.
SECTION 12. Counterparts. This Amendment may be executed in
any number of counterparts and by separate parties hereto on separate
counterparts, each of which when executed shall be deemed an original, but all
such counterparts taken together shall constitute one and the same instrument.
SECTION 13. 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 LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND
REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH
LAWS.
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IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to the Pooling and Servicing Agreement to be duly executed by their
respective authorized officers as of the day and year first above written.
FLEET BANK (RI), NATIONAL ASSOCIATION,
Servicer
By: ___________________________________
Name: Xxxxxxx X. Xxxxxx
Title: Vice President
FLEET CREDIT CARD FUNDING
TRUST, Transferor,
formerly, Fleet Credit Card
Funding, LLC
By: ___________________________________
Name:
Title
BANKERS TRUST COMPANY,
not in its individual capacity, but solely
as Trustee
By: ___________________________________
Name: Xxxxx Xxxxxx
Title: Assistant Vice President
[Signature Page to Amendment Number 1 to the
Amended and Restated Pooling and Servicing Agreement]
