Common use of Monitoring of Significance Percentage Clause in Contracts

Monitoring of Significance Percentage. With respect to each Payment Date, the Indenture Trustee shall calculate the "significance percentage" (as defined in Item 1115 of Regulation AB) of any derivative instrument based on the Note Principal Balance and Payment Date (after all payments to be made thereon on such Payment Date) and based on the methodology provided in writing by or on behalf of Countrywide no later than five Business Days preceding that Payment Date. On each Payment Date, the Indenture Trustee shall provide to Countrywide a written report (which written report may include similar information with respect to other derivative instruments relating to securitization transactions sponsored by Countrywide) specifying the "significance percentage" of each derivative instrument, if any, for that Payment Date. If the "significance percentage" of any derivative instrument exceeds 7.0% with respect to any Payment Date, the Indenture Trustee shall make a separate notation thereof in the written report described in the preceding sentence. Such written report may contain such assumptions and disclaimers as are deemed necessary and appropriate by the Indenture Trustee.

Monitoring of Significance Percentage. With respect to each Payment Date, the Indenture Trustee shall calculate the "“significance percentage" ” (as defined in Item 1115 of Regulation AB) of any derivative instrument based on the Note Principal Balance and Payment Date (after all payments to be made thereon on such Payment Date) and based on the methodology provided in writing by or on behalf of Countrywide no later than five Business Days preceding that Payment Date. On each Payment Date, the Indenture Trustee shall provide to Countrywide a written report (which written report may include similar information with respect to other derivative instruments relating to securitization transactions sponsored by Countrywide) specifying the "“significance percentage" ” of each derivative instrument, if any, for that Payment Date. If the "“significance percentage" ” of any derivative instrument exceeds 7.0% with respect to any Payment Date, the Indenture Trustee shall make a separate notation thereof in the written report described in the preceding sentence. Such written report may contain such assumptions and disclaimers as are deemed necessary and appropriate by the Indenture Trustee.