EXECUTION COPY CHASE ISSUANCE TRUST as Issuing Entity and WELLS FARGO BANK, NATIONAL ASSOCIATION as Indenture Trustee ____________________ FOURTH AMENDED AND RESTATED INDENTURE dated as of January 20, 2016 TABLE OF CONTENTS Page ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION Section 1.01 Definitions....................................................................................................4 Section 1.02 Compliance Certificates and Opinions ......................................................23 Section 1.03 Form of Documents Delivered to Indenture Trustee .................................24 Section 1.04 Acts of Noteholders. ..................................................................................24 Section 1.05 Notices, etc., to Indenture Trustee and Issuing Entity ...............................26 Section 1.06 Notices to Noteholders; Waiver. ................................................................27 Section 1.07 Conflict with Trust Indenture Act ..............................................................28 Section 1.08 Effect of Headings and Table of Contents .................................................28 Section 1.09 Successors and Assigns..............................................................................28 Section 1.10 Separability ................................................................................................28 Section 1.11 Benefits of Indenture..................................................................................28 Section 1.12 Governing Law ..........................................................................................28 Section 1.13 Counterparts ...............................................................................................29 Section 1.14 Indenture Referred to in the Trust Agreement ...........................................29 Section 1.15 Legal Holidays ...........................................................................................29 ARTICLE II NOTE FORMS Section 2.01 Forms Generally.........................................................................................30 Section 2.02 Forms of Notes ...........................................................................................30 Section 2.03 Form of Indenture Trustee’s Certificate of Authentication .......................30 Section 2.04 Notes Issuable in the Form of a Global Note. ............................................31 Section 2.05 Temporary Global Notes and Permanent Global Notes. ...........................33 Section 2.06 Beneficial Ownership of Global Notes ......................................................35 Section 2.07 Notices to Depository ................................................................................35 ARTICLE III THE NOTES Section 3.01 General Title; General Limitations; Issuable in Series; Terms of a Series, Class or Tranche of Notes. .............................................................36 Section 3.02 Denominations and Currency ....................................................................39 Section 3.03 Execution, Authentication and Delivery and Dating. ................................40 Section 3.04 Temporary Notes. ......................................................................................40 Section 3.05 Registration, Transfer and Exchange. ........................................................41 Section 3.06 Mutilated, Destroyed, Lost and Stolen Notes. ...........................................44 i Section 3.07 Payment of Interest; Interest and Principal Rights Preserved; Withholding Taxes. ....................................................................................45 Section 3.08 Persons Deemed Owners ...........................................................................45 Section 3.09 Cancellation ...............................................................................................46 Section 3.10 New Issuances of Notes .............................................................................46 Section 3.11 Specification of Required Subordinated Amount and other Terms with Respect to each Series, Class or Tranche of Notes. ...........................48 Section 3.12 Shared Excess Available Finance Charge Collections Groups and Other Groups ..............................................................................................48 Section 3.13 Unapplied Excess Finance Charge Collections .........................................48 Section 3.14 Unapplied Master Trust Level Excess Finance Charge Collections ..........49 Section 3.15 Unapplied Master Trust Level Principal Collections .................................50 ARTICLE IV BANK ACCOUNTS AND INVESTMENTS Section 4.01 Collections .................................................................................................52 Section 4.02 Bank Accounts. ..........................................................................................52 Section 4.03 Investment of Funds in the Bank Accounts. ..............................................53 ARTICLE V SATISFACTION AND DISCHARGE; CANCELLATION OF NOTES HELD BY THE ISSUING ENTITY, CHASE CARD FUNDING OR CHASE USA Section 5.01 Satisfaction and Discharge of Indenture ....................................................55 Section 5.02 Application of Trust Money .......................................................................55 Section 5.03 Cancellation of Notes Held by the Issuing Entity, Chase Card Funding or Chase USA ..............................................................................56 ARTICLE VI EVENTS OF DEFAULT AND REMEDIES Section 6.01 Events of Default .......................................................................................57 Section 6.02 Acceleration of Maturity; Rescission and Annulment. ..............................58 Section 6.03 Collection of Indebtedness and Suits for Enforcement by Indenture Trustee or the Collateral Agent on Behalf of the Indenture Trustee..........60 Section 6.04 Indenture Trustee or the Collateral Agent May File Proofs of Claim ..........................................................................................................60 Section 6.05 Indenture Trustee and the Collateral Agent May Enforce Claims Without Possession of Notes .....................................................................61 Section 6.06 Application of Money Collected ................................................................62 Section 6.07 Collateral Agent May Elect to Hold the Collateral Certificate ..................62 Section 6.08 Sale of Collateral for Accelerated Notes ...................................................62 ii Section 6.09 Noteholders Have the Right to Direct the Time, Method and Place of Conducting Any Proceeding for Any Remedy Available to the Indenture Trustee or the Collateral Agent .................................................63 Section 6.10 Limitation on Suits .....................................................................................63 Section 6.11 Unconditional Right of Noteholders to Receive Principal and Interest; Limited Recourse .........................................................................64 Section 6.12 Restoration of Rights and Remedies ..........................................................64 Section 6.13 Rights and Remedies Cumulative ..............................................................64 Section 6.14 Delay or Omission Not Waiver..................................................................64 Section 6.15 Control by Noteholders ..............................................................................65 Section 6.16 Waiver of Past Defaults .............................................................................65 Section 6.17 Undertaking for Costs ................................................................................65 Section 6.18 Waiver of Stay or Extension Laws ............................................................66 ARTICLE VII THE INDENTURE TRUSTEE Section 7.01 Certain Duties and Responsibilities. ..........................................................67 Section 7.02 Notice of Defaults ......................................................................................68 Section 7.03 Certain Rights of Indenture Trustee ...........................................................68 Section 7.04 Not Responsible for Recitals or Issuance of Notes ....................................69 Section 7.05 May Hold Notes .........................................................................................70 Section 7.06 Money Held in Trust ..................................................................................70 Section 7.07 Compensation and Reimbursement, Limit on Compensation, Reimbursement and Indemnity. .................................................................70 Section 7.08 Disqualification; Conflicting Interests .......................................................71 Section 7.09 Corporate Indenture Trustee Required; Eligibility ....................................71 Section 7.10 Resignation and Removal; Appointment of Successor. .............................71 Section 7.11 Acceptance of Appointment by Successor ................................................73 Section 7.12 Merger, Conversion, Consolidation or Succession to Business ................74 Section 7.13 Preferential Collection of Claims Against Issuing Entity ..........................74 Section 7.14 Appointment of Authenticating Agent.......................................................74