World Financial Network Credit Card Master Note Trust reported on October 1, 2026, that Comenity Capital Bank (CCB) entered into a Seventh Amended and Restated Service Agreement with Comenity Servicing LLC (CSERV). This agreement, effective on the same date, replaces a prior agreement dated January 1, 2025. The filing also includes a First Amendment to the Seventh Amended and Restated Service Agreement.
Under the new agreement, CSERV acts as an independent contractor providing services to CCB. The agreement outlines specific performance standards and reporting requirements. Servicer performance is measured against standards set forth in an appendix, with reports due by the 15th day of the month following the end of each measuring period. If performance standards are not met, CCB is entitled to a service fee credit, calculated in accordance with a separate appendix, which can reduce fees for the following month. The credit is capped at 10% of total service fees for that month.
The filing details that CCB is a Utah industrial bank and an indirect, wholly-owned subsidiary of Bread Financial Holdings, Inc. The bank is responsible for originating credit card accounts and servicing receivables held by the Master Trust, a role previously held by Comenity Bank (CB). On October 1, 2026, CCB completed a merger with CB, with CCB as the surviving entity. As a result, CCB assumed all rights, duties, and obligations of CB regarding the Master Trust and the Note Trust, including servicing responsibilities under the Pooling and Servicing Agreement and the Transfer and Servicing Agreement.
