Senior Prepayment Percentage. Subject to the immediately succeedingparagraph, (A) for any Distribution Date prior to the seventh anniversary of the first Distribution Date, the Senior Prepayment Percentage shall equal 100% and (B) for any Distribution Date on or after the seventh anniversary of the first Distribution Date, the Senior Prepayment Percentage shall be calculated asfollows: (1) for any such Distribution Date on or after the seventh anniversary but before the eighth anniversary of the first Distribution Date, the Senior Percentage for such Distribution Date plus 70% of the Subordinate Percentage for such Distribution Date; (2) for any such Distribution Date on or after the eighth anniversary but before the ninth anniversary of the first Distribution Date, the Senior Percentage for such Distribution Date plus 60% of the Subordinate Percentage for such Distribution Date; (3) for any such Distribution Date on or after the ninth anniversary but before the tenth anniversary of the first Distribution Date, the Senior Percentage for such Distribution Date plus 40% of the Subordinate Percentage for such Distribution Date; (4) for any such Distribution Date on or after the tenth anniversary but before the eleventh anniversary of the first Distribution Date, the Senior Percentage for such Distribution Date plus 20% of the Subordinate Percentage for such Distribution Date; and (5) for any such Distribution Date thereafter, the Senior Percentage for such Distribution Date; provided, however, that (x) for any Distribution Date on or prior to the Distribution Date in December 2007, if (i) the Subordinate Percentage for such Distribution Date is greater than or equal to twice the Subordinate Percentage as of the Closing Date and (ii) cumulative Realized Losses on the Mortgage Loans allocated to the Class B Certificates, as a percentage of the aggregateClass Principal Balance of the Class B Certificates as of the Closing Date, do not exceed 20%, then the Senior Prepayment Percentage shall equal the Senior Percentage for such Distribution Date plus 50% of the Subordinate Percentage for such Distribution Date and (y) for any Distribution Date after the Distribution Date in December 2007, if (i) the Subordinate Percentage for such Distribution Date is greater than or equal to twice the Subordinate Percentage as of the Closing Date and (ii) cumulative Realized Losses on the Mortgage Loans allocated to the Class B Certificates, as a percentage of the aggregate Class Principal Balance of the C...

Senior Prepayment Percentage. As to a Senior Certificate Group and any Distribution Date during the seven years beginning on the first Distribution Date, 100%. The related Senior Prepayment Percentage for any Distribution Date occurring on or after the seventh anniversary of the first Distribution Date will, except as provided in this Agreement, be as follows: for any Distribution Date in the first year thereafter, the related Senior Percentageplus 70% of the related Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the related Senior Percentage plus 60% of the related Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the related Senior Percentage plus 40% of the related Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the related Senior Percentage plus 20% of the related Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the related Senior Percentage for such Distribution Date (unless on any Distribution Date the SeniorPercentage of a Senior Certificate Group exceeds the initial Senior Percentage for such Senior Certificate Group in which case the Senior Prepayment Percentage for each Senior Certificate Group for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in any Senior Prepayment Percentage will occur unless both Senior Step Down Conditions are satisfiedwith respect to all of the Mortgage Loans. Notwithstanding the precedingparagraphs, if (x) on or before the Distribution Date in June 2010, the Aggregate Subordinated Percentage is at least 200% of the Aggregate Subordinated Percentage as of the Closing Date, the delinquency testset forth in the definition of Senior Step Down Conditions is satisfied and cumulative Realized Losses do not exceed 20% of the aggregate Class Certificate Balance of the Subordinated Certificates as of the Closing Date, the Senior Prepayment Percentage for each Senior Certificate Group will equal the related Senior Percentage for that Distribution Date plus 50% of an amount equal to 100% minus the related Senior Percentage for that Distribution Date and (y) after the Distribution Date in June 2010, the Aggregate Subordinated Percentage is at least 200% of the Aggregate Subordinated Percentage as of the Closing Date, the delinquency test set forth in the definition of Senior Step Down Cond...

Senior Prepayment Percentage. On any Distribution Date occurring during the periodsset forth below, as follows: Period (dates inclusive) Group I-3 Senior Prepayment Percentage --------------------------------- --------------------------------------------- August 25, 2003 - July 25, 2010 100% August 25, 2010 - July 25, 2011 Group I-3 Senior Percentageplus 70% of the Group I-3 Subordinate Percentage. August 25, 2011 - July 25, 2012 Group I-3 Senior Percentage plus 60% of the Group I-3 Subordinate Percentage. August 25, 2012 - July 25, 2013 Group I-3 Senior Percentage plus 40% of the Group I-3 Subordinate Percentage. August 25, 2013 - July 25, 2014 Group I-3 Senior Percentage plus 20% of the Group I-3 Subordinate Percentage. August 25, 2014 and thereafter Group I-3 Senior Percentage. In addition, no reduction of the Group I-3 Senior Prepayment Percentage shall occur on any Distribution Date unless, as of the last day of the monthpreceding such Distribution Date, (A) the aggregate Scheduled Principal Balance of the Group I Mortgage Loans delinquent 60 days or more (including for this purpose any such Group I Mortgage Loans in foreclosure and Group I Mortgage Loans with respect to which the relatedMortgaged Property has been acquiredby the Trust), averaged over the last six months, as a percentage of the aggregate Current Principal Amount of the Group I Subordinate Certificates does not exceed 50%; and (B) cumulative Realized Losses on the Group I Mortgage Loans do not exceed (a) 30% of the Group I Original Subordinate Principal Balance if such Distribution Date occurs between and including August 2010 and July 2011, (b) 35% of the Group I Original Subordinate Principal Balance if such Distribution Date occurs between and including August 2011 and July 2012, (c) 40% of the Group I Original Subordinate Principal Balance if such Distribution Date occurs between and including August 2012 and July 2013, (d) 45% of the Group I Original Subordinate Principal Balance if such Distribution Date occurs between and including August 2013 and July 2014, and (e) 50% of the Group I Original Subordinate Principal Balance if such Distribution Date occurs during or after August 2014. In addition, if on any Distribution Date the currentweighted average of the Group I Subordinate Percentages is equal to or greater thantwo times the initial weighted average of the Group I Subordinate Percentages, and (a) the aggregate Scheduled Principal Balance of the Group I Mortgage Loans delinquent 60 days or more (i...