DISCOVER CARD EXECUTION NOTE TRUST (Issuer) DISCOVER BANK (Originator and Servicer) DISCOVER FUNDING LLC (Depositor) Underwriting Agreement (Standard Terms) DiscoverSeries Class A(2019-2)Underwriting Agreement • July 24th, 2019 • Discover Funding LLC • Asset-backed securities • New York
Discover Card Execution Note Trust, a statutory trust created under the laws of the State of Delaware (the “Issuer”), and Discover Funding LLC, a Delaware limited liability company (“Funding”), as depositor (in such capacity, the “Depositor”) of the Issuer, propose, subject to the terms and conditions stated herein, to cause to be issued and sold from time to time notes of the series, classes and tranches designated in the applicable Terms Agreement (as hereinafter
ContractRisk Retention Agreement • July 24th, 2019 • Discover Funding LLC • Asset-backed securities • New York
RISK RETENTION AGREEMENT, dated as of July 30, 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(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...Discover Funding LLC • July 24th, 2019 • 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 DISCOVERSERIES Class A(2019-2) ASSET BACKED NOTES TERMS AGREEMENT Dated: July 23, 2019Terms Agreement • July 24th, 2019 • Discover Funding LLC • Asset-backed securities
Interest Rate or Formula: Initially, one-month LIBOR (the “Benchmark”) plus 0.27% per year; provided, however, the Benchmark may change in certain situations described in the Preliminary Prospectus; provided further, however, that if the sum of the Benchmark plus 0.27% 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%.
