SECOND AMENDMENT TO CREDIT CARD MARKETING AND RECEIVABLES PURCHASE AGREEMENT
This Second Amendment (this "Amendment") to the Credit Card Marketing and Receivables Purchase Agreement dated March 7, 2014 (together with any Amendments and Addendurns hereto, the "Agreement"), is made effective as of the 31st day of March, 2022, by and between Newtown Savings Bank, a Connecticut savings bank ("Client") and Pinnacle Bank, a Tennessee banking corporation ("Issuer"). Each party may be referred to herein as a "Party" or collectively as "Parties". Capitalized terms used in this Amendment that are not defined herein shall have the meaning set forth in the Agreement.
RECITALS
WHEREAS, the Parties have entered into the Agreement to facilitate Client's marketing of credit card accounts owned by the Issuer and purchase of all related receivables;
WHEREAS, the Parties would like to revise the Agreement to extend the term and to provide for the issuance of additional consumer and business World Card and Low Rate card products in connection with the Program; and
WHEREAS, the Issuer and Client desire to set forth this amendment to the Agreement in writing;
NOW, THEREFORE, in consideration of the foregoing and the mutual promises and covenants set forth herein, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
The first sentence of Section 11.1 of the Agreement is deleted in its entirety and replaced with the following:
"Section 11.1 Term and Expiration. The term of this Agreement shall commence on the Effective Date and continue through March 31, 2024 (the "Initial Term) unless terminated earlier as provided below."
Exhibit 2 of the Agreement is expanded as provided on the attached to include new Consumer and Business World Card and Low Rate Card Products and Pricing.
Except as modified herein, the terms and provisions of the Agreement are in full force and effect.
