Exhibit 99.9
ASSIGNMENT AGREEMENT
ASSIGNMENT AGREEMENT, dated as of December 29, 2006 ("Assignment
Agreement"), among COUNTRYWIDE HOME LOANS, INC. ("Assignor"), THE BANK OF NEW
YORK, not in its individual capacity but solely in its capacity as Cap
Contract Administrator for CWHEQ Revolving Home Equity Loan Trust, Series
2006-I ("Assignee"), pursuant to a Cap Contract Administration Agreement (the
"Cap Contract Administration Agreement") dated as of December 29, 2006, and
XXXXXX BROTHERS SPECIAL FINANCING INC. ("Remaining Party").
W I T N E S S E T H:
WHEREAS, effective as of December 29, 2006, Assignor desires to assign
all of its rights and delegate all of its duties and obligations to Assignee
under those certain Transactions (the "Assigned Transactions") as evidenced by
those certain confirmations with a Trade Date of December 12, 2006, whose
XXXXXX BROTHERS SPECIAL FINANCING INC. reference numbers are Global ID:
2788180 and Global ID: 2788027 (each a "Confirmation" and collectively, the
"Confirmations"), copies of which are attached hereto as Exhibit I;
WHEREAS, Assignor and Remaining Party executed and delivered the
Confirmations in connection with, and as part of, the ISDA Master Agreement
dated as of June 06, 1996, as amended and supplemented from time to time (the
"Old Master Agreement") between Assignor and Remaining Party;
WHEREAS, Assignee desires to accept the assignment of rights and assume
the delegation of duties and obligations of the Assignor under the Assigned
Transactions and the Confirmations, including any modifications that may be
agreed to by Assignee and Remaining Party; and
WHEREAS, Assignor desires to obtain the written consent of Remaining
Party to the assignment, delegation, and assumption and Remaining Party
desires to grant such consent in accordance with the terms hereof.
NOW, THEREFORE, in consideration of the premises and of the mutual
agreements herein contained and for good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree as
follows:
1. Assignment and Assumption. Effective as of and from December 29, 2006
(the "Effective Date"), Assignor hereby assigns all of its rights and
delegates all of its duties and obligations to Assignee and Assignee hereby
assumes all Assignor's rights, duties, and obligations under the Assigned
Transactions and the Confirmations arising on or after the Effective Date.
2. Release. Effective as of and from the Effective Date, Remaining Party
and Assignor hereby release one another from all duties and obligations owed
under and in respect of the Assigned Transactions and the Confirmations, and
Assignor hereby terminates its rights under and in respect of the Assigned
Transactions; provided, that such release shall not affect
Assignor's obligation to pay the Fixed Amount in accordance with the terms of
the Assigned Transactions and the Confirmations.
3. Limitation on Liability. Assignor and Remaining Party agree to the
following: (a) The Bank of New York ("BNY") is entering into this Assignment
Agreement solely in its capacity as Cap Contract Administrator under the Cap
Contract Administration Agreement; and (b) in no case shall BNY (or any person
acting as successor Cap Contract Administrator under the Cap Contract
Administration Agreement) be personally liable for or on account of any of the
statements, representations, warranties, covenants or obligations stated to be
those of Assignee under the terms of the Assigned Transactions, all such
liability, if any, being expressly waived by Assignor and Remaining Party and
any person claiming by, through or under either such party.
4. Consent and Acknowledgment of Remaining Party. Remaining Party hereby
consents to the assignment and delegation by Assignor to Assignee of all the
rights, duties, and obligations of Assignor under the Assigned Transactions
pursuant to this Assignment Agreement.
5. Governing Agreement. The Assigned Transactions and the Confirmations
shall form a part of, and be subject to, the Master Agreement
(Multicurrency-Cross Border) (the "ISDA Form Master Agreement") in the form
published by the International Swaps and Derivatives Association, Inc.
("ISDA"), as if Assignee and Remaining Party had executed such agreement on
the Trade Date of the Transactions between Assignee and Remaining Party (the
"Assignee Agreement"). The Confirmations, together with all other documents
referring to the ISDA Form Master Agreement confirming Transactions entered
into between Assignee and Remaining Party, shall form a part of, and be
subject to, the Assignee Agreement. For the purposes of this paragraph,
capitalized terms used herein and not otherwise defined shall have the
meanings assigned in the ISDA Form Master Agreement.
6. Additional Provision. Each party hereby agrees that the Confirmations
and thus the Assigned Transactions are each hereby amended by adding the
following provision as a new Section 4:
"Item 1115 Agreement. Party A and Party B agree that the terms of
the Item 1115 Agreement dated as of February 24, 2006, as amended
from time to time (the "Regulation AB Agreement"), between
Countrywide Home Loans, Inc., CWABS, INC., CWMBS, Inc., CWALT,
Inc., CWHEQ, Inc. and Xxxxxx Brothers Special Financing Inc. shall
be incorporated by reference into this Agreement so that Party B
shall be an express third party beneficiary of the Regulation AB
Agreement. A copy of the Item 1115 Agreement is annexed hereto at
Annex B."
7. Representations. Each party hereby represents and warrants to the
other parties as follows:
(a) It is duly organized, validly existing and in good standing under
the laws of its jurisdiction of organization or incorporation;
(b) It has the power to execute and deliver this Assignment Agreement;
and
2
(c) Its obligations under this Assignment Agreement constitute its
legal, valid and binding obligations, enforceable in accordance
with their respective terms.
As of the Effective Date, each of Assignor and Remaining Party
represents that no event or condition has occurred that constitutes an Event
of Default, a Potential Event of Default or, to the party's knowledge, a
Termination Event (as such terms are defined in the Confirmations and Assignee
Agreement), with respect to the party, and no such event would occur as a
result of the party's entering into or performing its obligations under this
Assignment Agreement.
8. Indemnity. Assignor hereby agrees to indemnify and hold harmless
Assignee with respect to any and all claims arising under the Assigned
Transactions prior to the Effective Date. Assignee (subject to the limitations
set forth in paragraph 3 above) hereby agrees to indemnify and hold harmless
Assignor with respect to any and all claims arising under the Assigned
Transactions on or after the Effective Date.
9. Governing Law. This Assignment Agreement shall be governed by and
construed in accordance with the laws of the State of New York.
10. Notices. For the purposes of this Assignment Agreement and Section
12(a) of the Old Master Agreement and the ISDA Form Master Agreement, as
applicable, the addresses for notices or communications are as follows: (i) in
the case of Assignor, Countrywide Home Loans, Inc., 0000 Xxxx Xxxxxxx, Xxxx
Xxxx XX-000, Xxxxxxxxx, Xxxxxxxxxx 00000, Attention: Xxxxxx Xxxxx, with a copy
to the same address, Attention: Legal Department, or such other address as may
be hereafter furnished in writing to Assignee and Remaining Party; (ii) in the
case of Assignee, The Bank of New York, 000 Xxxxxxx Xxxxxx, 0 Xxxx, Xxx Xxxx,
Xxx Xxxx 00000, Attention: Corporate Trust MBS Administration, CWHEQ, Series
2006-I or such other address as may be hereafter furnished in writing to
Assignor and Remaining Party; and (iii) in the case of Remaining Party,
Address: Xxxxxx Brothers Special Financing Inc.
c/x Xxxxxx Brothers Inc.
Transaction Management Group
Corporate Advisory Division
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Documentation Manager
Tel No. (000) 000-0000
Fax No. (000) 000-0000
such other address as may be hereafter furnished in writing to Assignor and
Assignee.
11. Payments. All payments (if any) remitted by Remaining Party under
the Assigned Transactions shall be made by wire transfer according to the
following instructions:
JPMorgan Chase Bank, N.A.-Houston, TX
ABA #000000000
Account Number #00103409232
Account: Houston Structured Finance Account
F/F/C: CWHEQ 2006-I
3
12. Counterparts. This Assignment Agreement may be executed and
delivered in counterparts (including by facsimile transmission), each of which
when executed shall be deemed to be an original but all of which taken
together shall constitute one and the same instrument.
4
IN WITNESS WHEREOF, the parties hereto have executed this Assignment Agreement
as of the date first above written. COUNTRYWIDE HOME LOANS, INC.
By: /s/ Xxxxxx Xxxxx
----------------------------------------
Name: Xxxxxx Xxxxx
Title: Executive Vice President
THE BANK OF NEW YORK, not in its
individual capacity but solely as
Cap Contract Administrator for CWHEQ
Revolving Home Equity Loan Trust, Series 2006-I
By: /s/ Xxxxxxxx Xxxxxxxxxxx
----------------------------------------
Name: Xxxxxxxx Xxxxxxxxxxx
Title: Vice President
XXXXXX BROTHERS SPECIAL FINANCING INC.
By: Xxxxxxx Xxxxxx
----------------------------------------
Name: /s/ Xxxxxxx Xxxxxx
Title: Authorized Signatory
5
Exhibit I
XXXXXX BROTHERS
Transaction
Date: 22 December, 2006
To: Countrywide Home Loans, Inc.
Attention: Documentation Unit
From: Xxxxxx Brothers Special Financing Inc.
Xxxxx Xxx - Confirmations Group
Facsimile: (x0) 000-000-0000 (United States of America)
Telephone: (x0)000-000-0000
Ref. Numbers: Risk ID: 1378027L/Effort ID: N1160471/Global Deal ID: 2788027
---------------------------------------------------------------------------
Dear Sir or Madam:
The purpose of this communication (this "Confirmation") is to confirm the
terms and conditions of the transaction (the "Transaction") entered into
between Xxxxxx Brothers Special Financing Inc. ("Party A") and Countrywide
Home Loans, Inc. ("Party B") on the Trade Date specified below. This
Confirmation constitutes a "Confirmation" as referred to in the Agreement
specified below.
This Confirmation supplements, forms part of, and is subject to, the ISDA
Master Agreement dated as of 06 June, 1996, as amended and supplemented from
time to time, between Party A and Party B (the "Agreement"). All provisions
contained in the Agreement shall govern this Confirmation except as expressly
modified below.
The definitions and provisions contained in the 2000 ISDA Definitions as
published by the International Swaps and Derivatives Association, Inc. (the
"Definitions") are incorporated into this Confirmation. In the event of any
inconsistency between the Definitions and the terms of this Confirmation, this
Confirmation will govern. For the purpose of the Definitions, references
herein to a "Transaction" shall be deemed to be references to a "Swap
Transaction". All terms used herein and not otherwise defined are given their
meaning in the Indenture dated as of December 1, 2006 between CWHEQ Revolving
Home Equity Loan Trust, Series 2006-1 and The Bank of New York, as Indenture
Trustee (the "Indenture") and in the Swap Contract Administration Agreement
dated as of December 29, 2006, among The Bank of New York, as Contract
Administrator (in such capacity, the "Cap Contract Administrator") and as
Indenture Trustee under the Indenture (in such capacity, the "Indenture
Trustee"), and Countrywide Home Loans, Inc. (the "Cap Contract Administration
Agreement").
Party A and Party B each represents that entering into the Transaction is
within its capacity, is duly authorized and does not violate any laws of its
jurisdiction of organization or residence or the terms of any agreement to
which it is a party. Party A and Party B each represents that (a) it is not
relying on the other party in connection with its decision to enter into this
Transaction, and
neither party is acting as an advisor to or fiduciary of the other party in
connection with this Transaction regardless of whether the other party
provides it with market information or its views; (b) it understands the risks
of the Transaction and any legal, regulatory, tax, accounting and economic
consequences resulting therefrom; and (c) it has determined based upon its own
judgment and upon any advice received from its own professional advisors as it
has deemed necessary to consult that entering into the Transaction is
appropriate for such party in light of its financial capabilities and
objectives. Party A and Party B each represents that upon due execution and
delivery of this Confirmation, it will constitute a legally valid and binding
obligation, enforceable against it in accordance with its terms, subject to
applicable principles of bankruptcy and creditors' rights generally and to
equitable principles of general application.
XXXXXX BROTHERS SPECIAL FINANCING INC.
XXXXXX BROTHERS INC.
000 XXXXXXX XXXXXX, XXX XXXX, XX 00000
The terms of the particular Transaction to which this Confirmation relates are
as follows:
General Terms:
Trade Date: 12 December, 2006
Effective Date: 29 December, 2006
Termination Date: 15 August, 2012, subject to
adjustment in accordance with the
Modified Following Business Day
Convention.
Notional Amount: USD380,000,000.00 - subject to
adjustment in accordance with
Appendix A attached hereto.
Fixed Amounts:
Fixed Amount Payer: Party B
Fixed Amount Payer Payment Dates: 29 December, 2006, subject to
adjustment in accordance
with the Following Business Day
Convention.
Fixed Amount: USD40,000.00
Floating Amounts:
Floating Amount Payer Party A
Cap Rate: As set forth in the schedule below
------------------------ ------------------------- ------------------------
Calculation Periods Calculation Periods Cap Rate (%)
from and including to but excluding
------------------------ ------------------------- ------------------------
12/29/06 02/15/07 8.71900]
------------------------ ------------------------- ------------------------
02/15/07 03/15/07 18.57200
------------------------ ------------------------- ------------------------
03/15/07 04/16/07 15.06600
------------------------ ------------------------- ------------------------
04/16/07 05/15/07 17.32400
------------------------ ------------------------- ------------------------
05/15/07 06/15/07 16.19600
------------------------ ------------------------- ------------------------
06/15/07 07/16/07 17.32400
------------------------ ------------------------- ------------------------
07/16/07 08/15/07 16.19600
------------------------ ------------------------- ------------------------
08/15/07 09/17/07 16.76100
------------------------ ------------------------- ------------------------
09/17/07 10/15/07 17.32400
------------------------ ------------------------- ------------------------
10/15/07 11/15/07 16.19600
------------------------ ------------------------- ------------------------
11/15/07 12/17/07 17.32400
------------------------ ------------------------- ------------------------
12/17/07 01/15/08 16.19600
------------------------ ------------------------- ------------------------
01/15/08 02/15/08 16.27700
------------------------ ------------------------- ------------------------
------------------------ ------------------------- ------------------------
Calculation Periods Calculation Periods Cap Rate (%)
from and including to but excluding
------------------------ ------------------------- ------------------------
02/15/08 03/17/08 17.40900
------------------------ ------------------------- ------------------------
03/17/08 04/15/08 15.14700
------------------------ ------------------------- ------------------------
04/15/08 05/15/08 16.82500
------------------------ ------------------------- ------------------------
05/15/08 06/16/08 15.71200
------------------------ ------------------------- ------------------------
06/16/08 07/15108 16.82500
------------------------ ------------------------- ------------------------
07/15/08 08/15/08 15.71200
------------------------ ------------------------- ------------------------
08/15/08 09/15/08 16.27800
----------------------- ------------------------- ------------------------
09/15/08 10/15/08 16.82500
------------------------ ------------------------- ------------------------
10/15/08 11/17/08 15.71300
------------------------ ------------------------- ------------------------
11/17/08 12/15/08 16.82500
------------------------ ------------------------- ------------------------
12/15/08 01/15/09 15.71300
------------------------ ------------------------- ------------------------
01/15/09 02/17/09 16.27800
------------------------ ------------------------- ------------------------
02/17/09 03/16/09 18.03700
------------------------ ------------------------- ------------------------
03/16/09 04/15/09 14.58300
------------------------ ------------------------- ------------------------
04/15/09 05/15/09 16.82600
------------------------ ------------------------- ------------------------
05/15/09 06/15/09 15.71300
------------------------ ------------------------- ------------------------
06/15/09 07/15/09 16.82600
------------------------ ------------------------- ------------------------
07/15/09 08/17/09 15.71400
------------------------ ------------------------- ------------------------
08/17/09 09/15/09 16.27900
------------------------ ------------------------- ------------------------
09/15/09 10/15/09 16.82600
------------------------ ------------------------- ------------------------
10/15/09 11/16/09 15.71400
------------------------ ------------------------- ------------------------
11/16/09 12/15/09 16.82700
------------------------ ------------------------- ------------------------
12/15/09 01/15/10 15.71400
------------------------ ------------------------- ------------------------
01/15/10 02/16/10 16.28000
------------------------ ------------------------- ------------------------
02/16/10 03/15/10 18.03900
------------------------ ------------------------- ------------------------
03/15/10 04/15/10 14.58400
------------------------ ------------------------- ------------------------
04/15/10 05/17/10 16.82700
------------------------ ------------------------- ------------------------
05/17/10 06/15/10 15.71500
------------------------ ------------------------- ------------------------
06/15/10 07/15/10 16.82700
------------------------ ------------------------- ------------------------
07/15/10 08/16/10 15.71500
------------------------ ------------------------- ------------------------
08/16/10 09/15/10 16.28000
------------------------ ------------------------- ------------------------
09/15/10 10/15/10 16.82700
------------------------ ------------------------- ------------------------
10/15/10 11/15/10 15.71500
------------------------ ------------------------- ------------------------
11/15/10 12/15/10 16.82800
------------------------ ------------------------- ------------------------
12/15/10 01/18/11 15.71500
------------------------ ------------------------- ------------------------
01/18/11 02/15/11 16.28000
------------------------ ------------------------- ------------------------
02/15/11 03/15/11 18.04000
------------------------ ------------------------- ------------------------
03/15/11 04/15/11 14.58500
------------------------ ------------------------- ------------------------
04/15/11 05/16/11 16.82800
------------------------ ------------------------- ------------------------
05/16/11 06/15/11 15.71600
------------------------ ------------------------- ------------------------
06/15/11 07/15/11 16.82800
------------------------ ------------------------- ------------------------
07/15/11 08/15/11 15.71600
------------------------ ------------------------- ------------------------
08/15/11 09/15/11 16.28100
------------------------ ------------------------- ------------------------
------------------------ ------------------------- ------------------------
Calculation Periods Calculation Periods Cap Rate (%)
from and including to but excluding
------------------------ ------------------------- ------------------------
09/15/11 10/17/11 16.82900
------------------------ ------------------------- ------------------------
10/17/11 11/15/11 15.71600
------------------------ ------------------------- ------------------------
11/15/11 12/15/11 16.82900
------------------------ ------------------------- ------------------------
12/15/11 01/17/12 15.71700
------------------------ ------------------------- ------------------------
01/17/12 02/15/12 16.28200
------------------------ ------------------------- ------------------------
02/15/12 03/15/12 17.41500
------------------------ ------------------------- ------------------------
03/15/12 04/16/12 15.15200
------------------------ ------------------------- ------------------------
04/16/12 05/15/12 16.83000
------------------------ ------------------------- ------------------------
05/15/12 06/15/12 15.71800
------------------------ ------------------------- ------------------------
06/15/12 07/16/12 16.83100
------------------------- ------------------------- -----------------------
07/16/12 08/15/12 15.71800
------------------------ ------------------------- ------------------------
Floating Amount Payer Payment Dates: The 15th calendar day of each
month, from and including 15
February, 2007 to and including
the Termination Date, subject
to adjustment in accordance
with the Modified Following
Business Day Convention.
Early Payment: 1 Business Day preceding each
Floating Rate Payer Period End
Date
Floating Rate Option: USD-LIBOR-BBA
Designated Maturity: 1 month
Spread: Inapplicable
Floating Rate Day Count Fraction: Actual/360
Reset Dates: The first day of each
Calculation Period
Business Days: New York
Miscellaneous:
Calculation Agent: Party A
Office: For the purposes of this
Transaction, Party A is not a
Multibranch Party, and the
Office of Party B is its Head
Office.
1. Assignment of the Transaction:
At the option of Party B, upon payment of the Fixed Amount and satisfaction of
any other conditions described herein, on a date in the future, (the "Transfer
Date") Party A and an entity
(the "Transferee") to be designated by Party B and approved by Party A in its
sole discretion will enter into an assignment agreement, acceptable to Party A
in form and substance, under which, among other things, Party B will transfer
its interest as Party B to the Transaction under this Confirmation to the
Transferee, and under which the Transferee shall assume the rights and
obligations of Party B to the Transaction under this Confirmation (the
"Transfer"). Upon transfer of this Transaction to the Transferee, all
references to Party B or words of similar meaning or import shall be deemed to
be a reference to the Transferee.
As of the date of such Transfer, the Transferee and Party A will be deemed to
enter into an ISDA Form Master Agreement in the form of the 1992 ISDA Master
Agreement (Multicurrency -- Cross Border) published by the International Swaps
and Derivatives Association, Inc, (the "ISDA Master Agreement") without any
Schedule, except for the elections that are provided in Part 2 of this
Confirmation. As of the date of such Transfer, as between the Transferee and
Party A, this Confirmation shall be deemed to supplement, form a part of, and
be subject to the ISDA Master Agreement (together, the "Transferred
Agreement"). For the avoidance of doubt, once fulfilled, the transfer option
contained in this Part 1 shall be inapplicable to this Transaction upon the
Transfer. All provisions contained in the ISDA Master Agreement shall govern
this Confirmation except as expressly modified herein.
2. Provisions Deemed Incorporated into this Transaction upon Transfer:
1) The parties agree that subparagraph (ii) of Section 2(c) of the ISDA
Master Agreement will apply to this Transaction.
2) Termination Provisions. For purposes of the ISDA Master Agreement:
(a) "Specified Entity" is not applicable to Party A or Party B for
any purpose,
(b) "Specified Transaction" is not applicable to Party A or Party
B for any purpose, and, accordingly, Section 5(a)(v) shall not
apply to Party A or Party B.
(c) The "Cross Default" provisions of Section 5(a)(vi) will not
apply to Party A or Party B.
(d) The "Credit Event Upon Merger" provisions of Section 5(b)(iv)
will not apply to Party A or Party B.
(e) The "Automatic Early Termination" provision of Section 6(a)
will not apply to Party A or Party B.
(f) Payments on Early Termination. For the purpose of Section
6(e), Market Quotation and Second Method will apply.
(g) "Termination Currency" means United States Dollars.
(h) Additional Termination Event. The following shall constitute
an Additional Termination Event:
(i) Amendment of Indenture. If, without the prior written consent
of Party A where such consent is required under the Indenture
(such consent not to be unreasonably withheld), an amendment is
made to the Indenture which amendment could reasonably be
expected to have a material adverse effect on the interests of
Party A under this Transaction, an Additional Termination Event
shall have occurred with respect to Party B and Party B shall
be the sole Affected Party with respect to such Additional
Termination Event.
3) Tax Representations. Not applicable
4) Fully-Paid Transaction. Notwithstanding anything to the contrary in
Section 5 or 6 of the ISDA Master Agreement, if at any time and so
long as one of the parties to this Confirmation ("X") shall have
satisfied in full all its payment and delivery obligations under
Section 2(a)(i) of the ISDA Master Agreement and shall at the time
have no future payment or delivery obligations, whether absolute or
contingent, under such Section or otherwise under this Confirmation,
then:
(i) the occurrence of an event described in Section 5(a) other
than Section 5(a)(vii) of the ISDA Master Agreement with
respect to X or any Credit Support Provider or Specified
Entity of X shall not constitute an Event of Default or
Potential Event of Default with respect to X, and
(ii) the other party ("Y") shall be entitled to designate an
Early Termination Date pursuant to Section 6 of the ISDA
Master Agreement only as a result of the occurrence of a
Termination Event set forth in (x) Section 5(b)(i), 5(b)(ii)
or 5(b)(v) with respect to Y as the Affected Party or (y)
Section 5(b)(iii) with respect to Y as the Burdened Party,
unless (A) Y is required pursuant to appropriate proceedings to
return to X or otherwise returns to X upon demand of X any portion
of any payment or delivery, or (B) a termination amount (after the
termination or liquidation of any Other Agreement(s) and
application of all applicable netting or set-off provisions) or
payment, delivery or collateral transfer would then be owed by X
to Y of any Other Agreement(s). As used in this clause, "Other
Agreement" means any contract or transaction, including an
agreement with respect thereto (whether or not effected pursuant
to a master agreement) now existing or hereafter entered into
between X and (i) Y, or (ii) any Affiliate of Y.
5) Documents to be Delivered. For the purpose of Section 4(a) of the
ISDA Master Agreement:
(1) Tax forms, documents, or certificates to be delivered are:
---------------------------------------- -------------------------------------- --------------------------------------
Party required to deliver Form/Document/ Date by which to
---------------------------------------- -------------------------------------- --------------------------------------
---------------------------------------- -------------------------------------- --------------------------------------
documents Certificate be delivered
---------------------------------------- -------------------------------------- --------------------------------------
Party A and Party B Any document required or reasonably Promptly after the earlier of (i)
requested to allow the other party reasonable demand by either party or
to make payments under this (ii) learning that such form or
Transaction without any deduction or document is required
withholding for or on the account of
any Tax or with such deduction or
withholding as a reduced rate
---------------------------------------- -------------------------------------- --------------------------------------
(2) Other documents to be delivered are:
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party required to deliver Form/Document/ Date by which to be Covered by Section 3(d)
document Certificate delivered Representation
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party A and Party B Any documents required by Upon the execution and Yes
the receiving party to delivery of this
evidence the authority of Transaction and such
the delivering party or Confirmation
its Credit Support
Provider, if any, for it
to execute and deliver
this Confirmation, and any
Credit Support Documents
to which it is a party,
and to evidence the
authority of the
delivering party or its
Credit Support Provider to
perform its obligations
under this Transaction,
such Confirmation and/or
Credit Support Document,
as the case may be
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party A and Party B A certificate of an Upon the execution and Yes
authorized officer of the delivery of this
party, as to the Transaction and such
incumbency and authority Confirmation
of the respective officers
of the party signing this
Confirmation, any
------------------------------- ---------------------------- ---------------------------- ----------------------------
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party required to deliver Form/Document/ Date by which to be Covered by Section 3(d)
document Certificate delivered Representation
------------------------------ ---------------------------- ---------------------------- -----------------------------
relevant Credit
Support Document, or
any Confirmation, as
the case may be
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party B An executed copy of the Within 30 calendar days No
Indenture after the date of
Confirmation
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party B Noteholder Report Each Determination Date or Yes
otherwise in accordance
with the terms of the
Indenture
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party B Monthly report At such time as each Yes
Monthly Report is
delivered to the
Indenture Trustee
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party A A guarantee of Xxxxxx Upon execution of the No
Brothers Holdings Inc. assignment of this
substantially in the form Transaction
of Exhibit A to this
Confirmation
------------------------------- ---------------------------- ---------------------------- ----------------------------
6) Miscellaneous.
(a) Address for Notices: For the purposes of Section 12(a) of
the ISDA Master Agreement:
Address for notices or communications to Party A:
Address: Xxxxxx Brothers Special Financing Inc.
c/x Xxxxxx Brothers Inc.
Transaction Management Group
Corporate Advisory Division
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Documentation Manager
Telephone (000) 000-0000
No..
Facsimile (000) 000-0000
No.:
Address for notices or communications to Party B:
Address: Countrywide Home Loans, Inc.
0000 Xxxx Xxxxxxx
Xxxxxxxxx, Xxxxxxxxxx 00000
Attention: Legal Department
Telephone 000-000-0000
No.:
Facsimile 000-000-0000
No.:
(b) Process Agent.
For the purpose of Section 13(c) of the ISDA Master
Agreement:
Party A appoints as its
Process Agent: Not Applicable
Party B appoints as its
Process Agent: Not Applicable
(c) Offices.
The provisions of Section 10(a) of the ISDA Master
Agreement will not apply to this Transaction; neither
Party A nor Party B have any Offices other than as set
forth in the Notices Section and Party A agrees that,
for purposes of Section 6(b) of the ISDA Master
Agreement, it shall not in future have any Office
other than one in the United States.
(d) Multibranch Party. For the purpose of Section 10(c) of the
ISDA Master Agreement:
Party A is not a Multibranch Party.
Party B is not a Multibranch Party.
(e) Credit Support Document.
With respect to Party A, the guaranty of Xxxxxx
Brothers Holdings Inc. provided by Party A. With
respect to Party B, from and including the date of its
execution, the Indenture.
(f) Credit Support Provider.
Party A: Xxxxxx Brothers Holdings Inc.
Party B: Not Applicable
(g) Governing Law.
The parties to this Transaction hereby agree that the
law of the State of New York shall govern their rights
and duties in whole.
(h) Jurisdiction.
Section 13(b) is hereby amended by: (x) deleting in
the second line subparagraph (i) thereof the word
"non-"; and (y) deleting the final paragraph thereof.
(i) Severability.
If any term, provision, covenant, or condition of this
Transaction, or the application thereof to any party
or circumstance, shall be held to be invalid or
unenforceable (in whole or in part) for any reason,
the remaining terms, provisions, covenants, and
conditions hereof shall continue in full force and
effect as if this Transaction had been executed with
the invalid or unenforceable portion eliminated, so
long as this Transaction as so modified continues to
express, without material change, the original
intentions of the parties as to the subject matter of
this Transaction and the deletion of such portion of
this Transaction will not substantially impair the
respective benefits or expectations of the parties;
provided however that this severability provision
shall not be applicable if any provision of Section 2,
5, 6 or 13 (or any definition or provision in Section
14 to the extent it relates to, or is used in or
connection with any such Section) shall be held to be
invalid or unenforceable.
The parties shall endeavor to engage in good faith negotiations to
replace any invalid or unenforceable term, provision, covenant or
condition with a valid or enforceable term, provision, covenant or
condition, the economic effect of which comes as close as possible
to that of the invalid or unenforceable term, provision, covenant
or condition.
(j) Consent to Recording.
Each party hereto consents to the monitoring or
recording, at any time and from time to time, by the
other party of any and all communications between
marketing and trading of the parties and waives any
further notice of such monitoring or recording.
(k) Waiver of Jury Trial.
Each party waives any right it may have to a trial by
jury in respect of any Proceedings relating to this
Transaction or any Credit Support Document.
(l) Party A will not unreasonably withhold or delay its consent
to an assignment of this Transaction to any other third
party.
(m) Set-off. The provisions for Set-off set forth in Section
6(e) of the ISDA Master Agreement shall not apply for
purposes of this Transaction.
(n) Representations.
Section 3 of the ISDA Master Agreement is hereby
amended by adding the following additional subsection:
Eligible Contract Participant. It is an "eligible
contract participant" as defined in the Commodity
Futures Modernization Act of 2000.
(o) Additional Representations and Warranties of Party B. Party
B represents to Party A in accordance with Section 3 of the
ISDA Master Agreement (which representations will be deemed
to be repeated by Party B at all times until the termination
of this Transaction) that:
(i) Constitutional Documents. Party B is in compliance, in
all material respects, with its constitutional
documents (including, but not limited to, the
Indenture, as amended from time-to-time, and any and
all resolutions, investment policies, guidelines,
procedures or restrictions), and each Transaction
contemplated hereunder is and will be an authorized
and permitted transaction thereunder and an
Authorizing Resolution is in full force and effect.
(ii) Compliance with Laws. Party B is in compliance, in all
respects, with all applicable laws, rules,
regulations, interpretations, guidelines, procedures,
and policies of applicable regulatory authorities
affecting Party B, this Transaction, or the
performance of Party B's obligations hereunder.
(p) Third-Party Beneficiary. Party B agrees with Party A that
Party A shall be an express third-party beneficiary of the
Indenture and the Cap Contract Administration Agreement.
(q) Amendments to Operative Documents. Party B agrees that it
will obtain Party A's written consent (which consent shall
not be unreasonably withheld) at least ten (10) Business
Days prior to amending or supplementing the Indenture (or
any other transaction document), if such amendment and/or
supplement would: (a) materially adversely affect any of
Party A's rights or obligations hereunder; or (b) modify the
obligations of, or impact the ability of, Party B to fully
perform any of Party B's obligations hereunder.
3. Account Details and Settlement Information:
Account Details of Party A: JPMorgan Chase Bank, New York
ABA #: 000000000
A/C of Xxxxxx Brothers Special
Financing Inc.
A/C # 000-000-000
Account Details of Party B: To be provided under separate
cover.
Please confirm your agreement with the foregoing by accenting this
Confirmation and returning such Confirmation, in its entirety, to us at
facsimile number (x0) 000-000-0000 (United States of America), Attention:
Confirmations Group.
Yours sincerely, Accepted and agreed to:
Xxxxxx Brothers Special Financing Inc. Countrywide Home Loans, Inc.
Xxxxxxx Xxxxxx
Xxxxxx Brothers Special Financing Inc.
By: /s/ Xxxxxxx X. Xxxxx
----------------------------
Name: Xxxxxxx X. Xxxxx
Title: Managing Director
Appendix A
------------------------------------- -------------------------------- -------------------------------
Calculation Periods Calculation Periods Notional Amount (USD)
from and including to but excluding
------------------------------------- -------------------------------- -------------------------------
12/29/06 02/15/07 380,000,000.00
------------------------------------- -------------------------------- -------------------------------
02/15/07 03/15/07 367,485,133.00
------------------------------------- -------------------------------- -------------------------------
03/15/07 04/16/07 355,382,428.00
------------------------------------- -------------------------------- -------------------------------
04/16/07 05/15/07 343,678,313.00
------------------------------------- -------------------------------- -------------------------------
05/15/07 06/15/07 332,359,660.00
------------------------------------- -------------------------------- -------------------------------
06/15/07 07/16/07 321,413,773.00
------------------------------------- -------------------------------- -------------------------------
07/16/07 08/15/07 310,828,377.00
------------------------------------- -------------------------------- -------------------------------
08/15/07 09/17/07 300,591,598.00
------------------------------------- -------------------------------- -------------------------------
09/17/07 10/15/07 290,691,956.00
------------------------------------- -------------------------------- -------------------------------
10/15/07 11/15/07 281,118,348.00
------------------------------------- -------------------------------- -------------------------------
11/15/07 12/17/07 271,860,036.00
------------------------------------- -------------------------------- -------------------------------
12/17/07 01/15/08 262,906,635.00
------------------------------------- -------------------------------- -------------------------------
01/15/08 02/15/08 254,248,105.00
------------------------------------- -------------------------------- -------------------------------
02/15/08 03/17/08 245,768,796.00
------------------------------------- -------------------------------- -------------------------------
03/17/08 04/15/08 237,567,247.00
------------------------------------- -------------------------------- -------------------------------
04/15/08 05/15/08 229,634,491.00
------------------------------------- -------------------------------- -------------------------------
05/15/08 06/16/08 221,961,257.00
------------------------------------- -------------------------------- -------------------------------
06/16/08 07/15/08 214,539,371.00
------------------------------------- -------------------------------- -------------------------------
07/15/08 08/15/08 207,360,141.00
-------------------------------------- -------------------------------- ------------------------------
08/15/08 09/15/08 200,416,040.00
------------------------------------- -------------------------------- -------------------------------
09/15/08 10/15/08 193,698,724.00
------------------------------------- -------------------------------- -------------------------------
10/15/08 11/17/08 187,200,983.00
------------------------------------- -------------------------------- -------------------------------
11/17/08 12/15/08 180,915,995.00
------------------------------------- -------------------------------- -------------------------------
12/15/08 01/15/09 174,835,886.00
------------------------------------- -------------------------------- -------------------------------
01/15/09 02/17/09 168,954,814.00
------------------------------------- -------------------------------- -------------------------------
02/17/09 03/16/09 163,265,187.00
------------------------------------- -------------------------------- -------------------------------
03/16/09 04/15/09 157,761,170.00
------------------------------------- -------------------------------- -------------------------------
04/15/09 05/15/09 152,438,565.00
------------------------------------- -------------------------------- -------------------------------
05/15/09 06/15/09 147,287,583.00
------------------------------------- -------------------------------- -------------------------------
06/15/09 07/15/09 142,305,125.00
------------------------------------- -------------------------------- -------------------------------
07/15/09 08/17/09 137,484,191.00
------------------------------------- -------------------------------- -------------------------------
08/17/09 09/15/09 132,820,940.00
------------------------------------- -------------------------------- -------------------------------
09/15/09 10/15/09 128,308,571.00
------------------------------------- -------------------------------- -------------------------------
10/15/09 11/16/09 123,942,860.00
------------------------------------- -------------------------------- -------------------------------
11/16/09 12/15/09 119,719,875.00
------------------------------------- -------------------------------- -------------------------------
12/15/09 01/15/10 115,633,078.00
------------------------------------- -------------------------------- -------------------------------
01/15/10 02/16/10 111,679,843.00
------------------------------------- -------------------------------- -------------------------------
02/16/10 03/15/10 107,866,909.00
------------------------------------- -------------------------------- -------------------------------
03/15/10 04/15/10 104,314,435.00
------------------------------------- -------------------------------- -------------------------------
04/15/10 05/17/10 100,878,958.00
------------------------------------- -------------------------------- -------------------------------
------------------------------------- -------------------------------- -------------------------------
Calculation Periods Calculation Periods Notional Amount (USD)
from and including to but excluding
------------------------------------- -------------------------------- -------------------------------
05/17/10 06/15/10 97,556,624.00
------------------------------------- -------------------------------- -------------------------------
06/15/10 07/15/10 94,343,708.00
------------------------------------- -------------------------------- -------------------------------
07/15/10 08/16/10 91,198,577.00
------------------------------------- -------------------------------- -------------------------------
08/16/10 09/15/10 88,132,482.00
------------------------------------- -------------------------------- -------------------------------
09/15/10 10/15/10 85,167,364.00
------------------------------------- -------------------------------- -------------------------------
10/15/10 11/15/10 82,299,900.00
------------------------------------- -------------------------------- -------------------------------
11/15/10 12/15/10 79,526,872.00
------------------------------------- -------------------------------- -------------------------------
12/15/10 01/18/11 76,845,171.00
------------------------------------- -------------------------------- -------------------------------
01/18/11 02/15/11 74,251,788.00
------------------------------------- -------------------------------- -------------------------------
02/15/11 03/15/11 71,743,816.00
------------------------------------- -------------------------------- -------------------------------
03/15/11 04/15/11 69,318,441.00
------------------------------------- -------------------------------- -------------------------------
04/15/11 05/16/11 66,972,943.00
------------------------------------- -------------------------------- -------------------------------
05/16/11 06/15/11 64,704,691.00
------------------------------------- -------------------------------- -------------------------------
06/15/11 07/15/11 62,511,141.00
------------------------------------- -------------------------------- -------------------------------
07/15/11 08/15/11 60,389,834.00
------------------------------------- -------------------------------- -------------------------------
08/15/11 09/15/11 58,338,389.00
------------------------------------- -------------------------------- -------------------------------
09/15/11 10/17/11 56,354,506.00
------------------------------------- -------------------------------- -------------------------------
10/17/11 11/15/11 54,435,960.00
------------------------------------- -------------------------------- -------------------------------
11/15/11 12/15/11 52,580,445.00
------------------------------------- -------------------------------- -------------------------------
12/15/11 01/17/12 50,786,045.00
------------------------------------- -------------------------------- -------------------------------
01/17/12 02/15/12 49,050,749.00
------------------------------------- -------------------------------- -------------------------------
02/15/12 03/15/12 46,927,309.00
------------------------------------- -------------------------------- -------------------------------
03/15/12 04/16/12 44,892,366.00
------------------------------------- -------------------------------- -------------------------------
04/16/12 05/15/12 42,942,232.00
------------------------------------- -------------------------------- -------------------------------
05/15/12 06/15/12 41,073,373.00
------------------------------------- -------------------------------- -------------------------------
06/15/12 07/16/12 39,282,401.00
------------------------------------- -------------------------------- -------------------------------
07/16/12 08/15/12 37,566,070.00
------------------------------------- -------------------------------- -------------------------------
Exhibit A to Confirmation
-------------------------
GUARANTEE OF XXXXXX BROTHERS HOLDINGS INC.
------------------------------------------
XXXXXX BROTHERS SPECIAL FINANCING INC. ("Party A") and The Bank of New
York, not in its individual capacity, but solely as Cap Contract Administrator
for CWHEQ Revolving Home Equity Loan Trust, Series 2006-I ("Party B") have
entered into a Transaction as set forth in the Confirmation between them with
Party A's reference number Global ID: 2788027 (the "Transaction"). This
Guarantee is a Credit Support Document as contemplated in the Confirmation.
For value received, and in consideration of the financial accommodation
accorded to Party A by Party B under the Confirmation and the ISDA Master
Agreement, incorporated by reference therein. The Confirmation and such ISDA
Master Agreement are collectively referred to hereafter as the "Agreement".
XXXXXX BROTHERS HOLDINGS INC., a corporation organized and existing under the
laws of the State of Delaware ("Guarantor"), hereby agrees to the following:
(a) Guarantor hereby unconditionally guarantees to Party B the due and
punctual payment of all amounts payable by Party A in connection with such
Transaction when and as Party A's obligations thereunder shall become due and
payable in accordance with the terms of the Agreement (whether at maturity, by
acceleration or otherwise). Guarantor hereby agrees, upon written demand by
Party B, to pay or cause to be paid any such amounts punctually when and as
the same shall become due and payable.
(b) Guarantor hereby agrees that its obligations under this Guarantee
constitute a guarantee of payment when due and not of collection.
(c) Guarantor hereby agrees that its obligations under this Guarantee
shall be unconditional, irrespective of the validity, regularity or
enforceability of the Agreement against Party A (other than as a result of the
unenforceability thereof against Party B), the absence of any action to
enforce Party A's obligations under the Agreement, any waiver or consent by
Party B with respect to any provisions thereof or any other circumstance which
might otherwise constitute a legal or equitable discharge or defense of a
guarantor (excluding the defense of payment or statute of limitations, neither
of which is waived) provided, however, that Guarantor shall be entitled to
exercise any right that Party A could have exercised under the Agreement to
cure any default in respect of its obligations under the Agreement or to
setoff, counterclaim or withhold payment in respect of any Event of Default or
Potential Event of Default in respect of Party B or any Affiliate, but only to
the extent such right is provided to Party A under the Agreement.
(d) This Guarantee shall remain in full force and effect until the first
to occur of (i) receipt by Party B of a written notice of termination from
Guarantor or (ii) none of the obligations of Party A remain outstanding.
Termination of this Guarantee shall not affect Guarantor's liability hereunder
as to obligations incurred or arising out of Transactions entered into prior
to the termination hereof.
(e) Guarantor further agrees that this Guarantee shall continue to be
effective or be reinstated, as the case may be, if at any time, payment, or
any part thereof, of any obligation or
Xxxxxx Brothers Holdings Inc.
000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, 00000
1
interest thereon is rescinded or must otherwise be restored by Party B upon an
Event of Default as set forth in Section 5(a)(vii) of the ISDA Master
Agreement affecting Party A or Guarantor.
(f) Guarantor hereby waives (i) promptness, diligence, presentment,
demand of payment, protest, order and, except as set forth in paragraph (a)
hereof, notice of any kind in connection with the Agreement and this
Guarantee, or (ii) any requirement that Party B exhaust any right to take any
action against Party A or any other person prior to or contemporaneously with
proceeding to exercise any right against Guarantor under this Guarantee.
This Guarantee shall be governed by and construed in accordance with the
laws of the State of New York, without regard to conflicts of laws principles.
All capitalized terms not defined in this Guarantee, but defined in the
Agreement, shall have the meanings assigned thereto in the Agreement.
Any notice hereunder will be sufficiently given if given in accordance
with the provisions for notices under the Agreement and will be effective as
set forth therein. All notices hereunder shall be delivered to Xxxxxx Brothers
Holdings Inc., Attention: Corporate Counsel, 0000 Xxxxxx xx Xxxxxxxx, 0xx
Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 XXX with a copy to Xxxxxx Brothers Special
Financing Inc., Attention: Transaction Management, 000 Xxxxxxx Xxxxxx, 00xx
Xxxxx, Xxx Xxxx, XX 00000 XXX.
IN WITNESS WHEREOF, Guarantor has caused this Guarantee to be executed
by its duly authorized officer as of the date of the Agreement.
XXXXXX BROTHERS HOLDINGS INC.
/s/ Xxxxx X. Xxxxxxxxxx III
--------------------------------
Name: Xxxxx X. Xxxxxxxxxx III
Title: Vice President
Date: December 21, 2006
Xxxxxx Brothers Holdings Inc.
000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, 00000
2
XXXXXX BROTHERS
Transaction
Date: 22 December, 2006
To: Countrywide Home Loans, Inc.
Attention: Documentation Unit
From: Xxxxxx Brothers Special Financing Inc.
Xxxxx Xxx - Confirmations Group
Facsimile: (x0) 000-000-0000 (United States of America)
Telephone: (x0) 000-000-0000
Ref. Numbers: Risk ID: 1378029L / Effort ID: N1160472/Global Deal ID: 2788180
-------------------------------------------------------------------------------
Dear Sir or Madam:
The purpose of this communication (this "Confirmation") is to confirm the
terms and conditions of the transaction (the "Transaction") entered into
between Xxxxxx Brothers Special Financing Inc. ("Party A") and Countrywide
Home Loans, Inc. ("Party B") on the Trade Date specified below. This
Confirmation constitutes a "Confirmation" as referred to in the Agreement
specified below.
This Confirmation supplements, forms part of, and is subject to, the ISDA
Master Agreement dated as of 06 June, 1996, as amended and supplemented from
time to time, between Party A and Party B (the "Agreement"). All provisions
contained in the Agreement shall govern this Confirmation except as expressly
modified below.
The definitions and provisions contained in the 2000 ISDA Definitions as
published by the International Swaps and Derivatives Association, Inc. (the
"Definitions") are incorporated into this Confirmation. In the event of any
inconsistency between the Definitions and the terms of this Confirmation, this
Confirmation will govern. For the purpose of the Definitions, references
herein to a "Transaction" shall be deemed to be references to a "Swap
Transaction". All terms used herein and not otherwise defined are given their
meaning in the Indenture dated as of December 1, 2006 between CWHEQ Revolving
Home Equity Loan Trust, Series 2006-I and The Bank of New York, as Indenture
Trustee (the "Indenture") and in the Swap Contract Administration Agreement
dated as of December 29, 2006, among The Bank of New York, as Cap Contract
Administrator (in such capacity, the "Cap Contract Administrator") and as
Indenture Trustee under the Indenture (in such capacity, the "Indenture
Trustee"), and Countrywide Home Loans, Inc. (the "Cap Contract Administration
Agreement").
Party A and Party B each represents that entering into the Transaction is
within its capacity, is duly authorized and does not violate any laws of its
jurisdiction of organization or residence or the terms of any agreement to
which it is a party. Party A and Party B each represents that (a) it is not
relying on the other party in connection with its decision to enter into this
Transaction, and neither party is acting as an advisor to or fiduciary of the
other party in connection with this
XXXXXX BROTHERS SPECIAL FINANCING INC.
XXXXXX BROTHERS INC.
000 XXXXXXX XXXXXX, XXX XXXX, XX 00000
Transaction regardless of whether the other party provides it with market
information or its views; (b) it understands the risks of the Transaction and
any legal, regulatory, tax, accounting and economic consequences resulting
therefrom; and (c) it has determined based upon its own judgment and upon any
advice received from its own professional advisors as it has deemed necessary
to consult that entering into the Transaction is appropriate for such party in
light of its financial capabilities and objectives. Party A and Party B each
represents that upon due execution and delivery of this Confirmation, it will
constitute a legally valid and binding obligation, enforceable against it in
accordance with its terms, subject to applicable principles of bankruptcy and
creditors' rights generally and to equitable principles of general
application.
The terms of the particular Transaction to which this Confirmation relates are
as follows:
General Terms:
Trade Date: 12 December, 2006
Effective Date: 29 December, 2006
Termination Date: 15 August, 2012, subject to
adjustment in accordance with the
Modified Following Business Day
Convention.
Notional Amount: USD1,720,000,000.00 - subject to
adjustment in accordance with
Appendix A attached hereto.
Fixed Amounts:
Fixed Amount Payer: Party B
Fixed Amount Payer Payment Dates: 29 December, 2006, subject to
adjustment in accordance with the
following Business Day Convention.
Fixed Amount: USD75,000.00
Floating Amounts:
Floating Amount Payer: Party A
Cap Rate: As set forth in the schedule below
----------------------------------- ---------------------------- -------------------
Calculation Periods Calculation Periods
from and including to but excluding Cap Rate (%)
----------------------------------- ---------------------------- -------------------
12/29/06 02/15/07 8.8550
----------------------------------- ---------------------------- -------------------
02/15/07 03/15/07 18.61800
----------------------------------- ---------------------------- -------------------
03/15/07 04/16/07 15.10300
----------------------------------- ---------------------------- -------------------
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 2 of 14
----------------------------------- ---------------------------- -------------------
Calculation Periods Calculation Periods
from and including to but excluding Cap Rate (%)
----------------------------------- ---------------------------- -------------------
04/16/07 05/15/07 17.36700
----------------------------------- ---------------------------- -------------------
05/15/07 06/15/07 16.23600
----------------------------------- ---------------------------- -------------------
06/15/07 07/16/07 17.36700
----------------------------------- ---------------------------- -------------------
07/16/07 08/15/07 16.23600
----------------------------------- ---------------------------- -------------------
08/15/07 09/17/07 16.80300
----------------------------------- ---------------------------- -------------------
09/17/07 10/15/07 17.36700
----------------------------------- ---------------------------- -------------------
10/15/07 11/15/07 16.23600
----------------------------------- ---------------------------- -------------------
11/15/07 12/17/07 17.36700
----------------------------------- ---------------------------- -------------------
12/17/07 01/15/08 16.23600
----------------------------------- ---------------------------- -------------------
01/15/08 02/15/08 16.31900
----------------------------------- ---------------------------- -------------------
02/15/08 03/17/08 17.45400
----------------------------------- ---------------------------- -------------------
03/17/08 04/15/08 15.18600
----------------------------------- ---------------------------- -------------------
04/15/08 05/15/08 16.86700
----------------------------------- ---------------------------- -------------------
05/15/08 06/16/08 15.75200
----------------------------------- ---------------------------- -------------------
06/16/08 07/15/08 16.86700
----------------------------------- ---------------------------- -------------------
07/15/08 08/15/08 15.75200
----------------------------------- ---------------------------- -------------------
08/15/08 09/15/08 16.31900
----------------------------------- ---------------------------- -------------------
09/15/08 10/15/08 16.86700
----------------------------------- ---------------------------- -------------------
10/15/08 11/17/08 15.75200
----------------------------------- ---------------------------- -------------------
11/17/08 12/15/08 16.86700
----------------------------------- ---------------------------- -------------------
12/15/08 01/15/09 15.75200
----------------------------------- ---------------------------- -------------------
01/15/09 02/17/09 16.31900
----------------------------------- ---------------------------- -------------------
02/17/09 03/16/09 18.08200
----------------------------------- ---------------------------- -------------------
03/16/09 04/15/09 14.62000
----------------------------------- ---------------------------- -------------------
04/15/09 05/15/09 16.86700
----------------------------------- ---------------------------- -------------------
05/15/09 06/15/09 15.75200
----------------------------------- ---------------------------- -------------------
06/15/09 07/15/09 16.86700
----------------------------------- ---------------------------- -------------------
07/15/09 08/17/09 15.75200
----------------------------------- ---------------------------- -------------------
08/17/09 09/15/09 16.31900
----------------------------------- ---------------------------- -------------------
09/15/09 10/15/09 16.86700
----------------------------------- ---------------------------- -------------------
10/15/09 11/16/09 15.75200
----------------------------------- ---------------------------- -------------------
11/16/09 12/15/09 16.86700
----------------------------------- ---------------------------- -------------------
12/15/09 01/15/10 15.75200
----------------------------------- ---------------------------- -------------------
01/15/10 02/16/10 16.31900
----------------------------------- ---------------------------- -------------------
02/16/10 03/15/10 18.08200
----------------------------------- ---------------------------- -------------------
03/15/10 04/15/10 14.62000
----------------------------------- ---------------------------- -------------------
04/15/10 05/17/10 16.86700
----------------------------------- ---------------------------- -------------------
05/17/10 06/15/10 15.75200
----------------------------------- ---------------------------- -------------------
06/15/10 07/15/10 16.86700
----------------------------------- ---------------------------- -------------------
07/15/10 08/16/10 15.75200
----------------------------------- ---------------------------- -------------------
08/16/10 09/15/10 16.31900
----------------------------------- ---------------------------- -------------------
09/15/10 10/15/10 16.86700
----------------------------------- ---------------------------- -------------------
10/15/10 11/15/10 15.75200
----------------------------------- ---------------------------- -------------------
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 3 of 14
----------------------------------- ---------------------------- -------------------
Calculation Periods Calculation Periods
from and including to but excluding Cap Rate (%)
----------------------------------- ---------------------------- -------------------
11/15/10 12/15/10 16.86700
----------------------------------- ---------------------------- -------------------
12/15/10 01/18/11 15.75200
----------------------------------- ---------------------------- -------------------
01/18/11 02/15/11 16.31900
----------------------------------- ---------------------------- -------------------
02/15/11 03/15/11 18.08200
----------------------------------- ---------------------------- -------------------
03/15/11 04/15/11 14.62000
----------------------------------- ---------------------------- -------------------
04/15/11 05/16/11 16.86700
----------------------------------- ---------------------------- -------------------
05/16/11 06/15/11 15.75200
----------------------------------- ---------------------------- -------------------
06/15/11 07/15/11 16.86700
----------------------------------- ---------------------------- -------------------
07/15/11 08/15/11 16.75200
----------------------------------- ---------------------------- -------------------
08/15/11 09/15/11 16.31900
----------------------------------- ---------------------------- -------------------
09/15/11 10/17/11 15.75200
----------------------------------- ---------------------------- -------------------
10/17/11 11/15/11 15.75200
----------------------------------- ---------------------------- -------------------
11/15/11 12/15/11 16.86700
----------------------------------- ---------------------------- -------------------
12/15/11 01/17/12 15.75200
----------------------------------- ---------------------------- -------------------
01/17/12 02/15/12 16.31900
----------------------------------- ---------------------------- -------------------
02/15/12 03/15/12 17.45400
----------------------------------- ---------------------------- -------------------
03/15/12 04/16/12 15.18600
----------------------------------- ---------------------------- -------------------
04/16/12 05/15/12 16.86700
----------------------------------- ---------------------------- -------------------
05/15/12 06/15/12 15.75200
----------------------------------- ---------------------------- -------------------
06/15/12 07/16/12 16.86700
----------------------------------- ---------------------------- -------------------
07/16/12 08/15/12 15.75200
----------------------------------- ---------------------------- -------------------
Floating Amount Payer Period End Dates: The 15th calendar day of each
month, from and including
15 February, 2007 to and
including the Termination Date,
subject to adjustment in
accordance with the Modified
Following Business Day
Convention.
Early Payment: 1 Business Day preceding each
Floating Rate Payer Period End
Date
Floating Rate Option: USD-LIBOR-BBA
Designated Maturity: 1 month
Spread: Inapplicable
Floating Rate Day Count Fraction: Actual/360
Reset Dates: The first day of each
Calculation Period
Business Days: New York
Miscellaneous:
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 4 of 14
Calculation Agent: Party A
Office: For the purposes of this
Transaction, Party A is not a
Multibranch Party, and the
Office of Party B is its Head
Office.
1. Assignment of the Transaction:
At the option of Party B, upon payment of the Fixed Amount and satisfaction of
any other conditions described herein, on a date in the future (the "Transfer
Date"), Party A and an entity (the "Transferee") to be designated by Party B
and approved by Party A in its sole discretion will enter into an assignment
agreement, acceptable to Party A in form and substance, under which, among
other things, Party B will transfer its interest as Party B to the Transaction
under this Confirmation to the Transferee, and under which the Transferee
shall assume the rights and obligations of Party B to the Transaction under
this Confirmation (the "Transfer"). Upon transfer of this Transaction to the
Transferee, all references to Party B or words of similar meaning or import
shall be deemed to be a reference to the Transferee.
As of the date of such Transfer, the Transferee and Party A will be deemed to
enter into an ISDA Form Master Agreement in the form of the 1992 ISDA Master
Agreement (Multicurrency -- Cross Border) published by the International Swaps
and Derivatives Association, Inc. (the "ISDA Master Agreement") without any
Schedule, except for the elections that are provided in Part 2 of this
Confirmation. As of the date of such Transfer, as between the Transferee and
Party A, this Confirmation shall be deemed to supplement, form a part of, and
be subject to the ISDA Master Agreement (together, the "Transferred
Agreement"). For the avoidance of doubt, once fulfilled, the transfer option
contained in this Part I shall be inapplicable to this Transaction upon the
Transfer. All provisions contained in the ISDA Master Agreement shall govern
this Confirmation except as expressly modified herein.
2. Provisions Deemed Incorporated into this Transaction upon Transfer:
1) The parties agree that subparagraph (ii) of Section 2(c) of the
ISDA Master Agreement will apply to this Transaction.
2) Termination Provisions. For purposes of the ISDA Master Agreement:
(a) "Specified Entity" is not applicable to Party A or Party B
for any purpose.
(b) "Specified Transaction" is not applicable to Party A or
Party B for any purpose, and, accordingly, Section 5(a)(v)
shall not apply to Party A or Party B.
(c) The "Cross Default" provisions of Section 5(a)(vi) will not
apply to Party A or Party B.
(d) The "Credit Event Upon Merger" provisions of Section
5(b)(iv) will not apply to Party A or Party A.
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 5 of 14
(e) The "Automatic Early Termination" provision of Section 6(a)
will not apply to Party A or Party B.
(f) Payments on Early Termination. For the purpose of Section
6(e), Market Quotation and Second Method will apply.
(g) "Termination Currency" means United States Dollars.
(h) Additional Termination Event. The following shall constitute
an Additional Termination Event:
(i) Amendment of Indenture. If, without the prior written
consent of Party A where such consent is required under
the Indenture (such consent not to be unreasonably
withheld), an amendment is made to the Indenture which
amendment could reasonably be expected to have a
material adverse effect on the interests of Party A
under this Transaction, an Additional Termination Event
shall have occurred with respect to Party B and Party B
shall be the sole Affected Party with respect to such
Additional Termination Event.
3) Tax Representations. Not applicable
4) Fully-Paid Transaction. Notwithstanding anything to the contrary
in Section 5 or 6 of the ISDA Master Agreement, if at any time and
so long as one of the parties to this Confirmation ("X") shall
have satisfied in full all its payment and delivery obligations
under Section 2(a)(i) of the ISDA Master Agreement and shall at
the time have no future payment or delivery obligations, whether
absolute or contingent, under such Section or otherwise under this
Confirmation, then:
(i) the occurrence of an event described in Section 5(a)
other than Section 5(a)(vii) of the ISDA Master
Agreement with respect to X or any Credit Support
Provider or Specified Entity of X shall not constitute
an Event of Default or Potential Event of Default with
respect to X, and
(ii) the other party ("Y") shall be entitled to designate
an Early Termination Date pursuant to Section 6 of the
ISDA Master Agreement only as a result of the
occurrence of a Termination Event set forth in (x)
Section 5(b)(i), 5(b)(ii) or 5(b)(v) with respect to Y
as the Affected Party or (y) Section 5(b)(iii) with
respect to Y as the Burdened Party,
unless (A) Y is required pursuant to appropriate proceedings
to return to X or otherwise returns to X upon demand of X
any portion of any payment or delivery, or (B) a termination
amount (after the termination or liquidation of any Other
Agreement(s) and application of all applicable netting or
set-off provisions) or payment, delivery or collateral
transfer would than be owed by X to Y of any Other
Agreement(s). As used in this
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 6 of 14
clause, "Other Agreement" means any contract or transaction,
including an agreement with respect thereto (whether or not
effected pursuant to a master agreement) now existing or
hereafter entered into between X and (i) Y, or (ii) any
Affiliate of Y.
5) Documents to be Delivered. For the purpose of Section 4(a) of the
ISDA Master Agreement:
(i) Tax forms, documents, or certificates to be delivered
are:
---------------------------------------- -------------------------------------- --------------------------------------
Party required to deliver Form/Document/ Date by which to
document Certificate be delivered
---------------------------------------- -------------------------------------- --------------------------------------
Party A and Party B Any document required or reasonably Promptly after the earlier of (i)
requested to allow the other party reasonable demand by either party or
to make payments under this (ii) learning that such form or
Transaction without any deduction or document is required
withholding for or on the account of
any Tax or with such deduction or
withholding at a reduced rate
---------------------------------------- -------------------------------------- --------------------------------------
(ii) Other documents to be delivered are:
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party required to deliver Form/Document/ Date by which to be Covered by Section 3(d)
document Certificate delivered Representation
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party A and Party B Any documents required by Upon the execution and Yes
the receiving party to delivery of this
evidence the authority of Transaction and such
the delivering party or Confirmation
its Credit Support
Provider, if any, for it
to execute and deliver
this Confirmation, and any
Credit Support Documents
to which it is a party,
and to evidence the
authority of the
delivering party or its
Credit Support Provider to
perform its obligations
under this Transaction,
such Confirmation and/or
Credit Support
------------------------------- ---------------------------- ---------------------------- ----------------------------
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 7 of 14
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party required to deliver Form/Document/ Date by which to be Covered by Section 3(d)
document Certificate delivered Representation
------------------------------- ---------------------------- ---------------------------- ----------------------------
Document, as the case
may be
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party A and party B A certificate of an Upon the execution and Yes
authorized officer of the delivery of this
party, as to the Transaction and such
incumbency and authority Confirmation
of the respective officers
of the party signing this
Confirmation, any relevant
Credit Support Document,
or any Confirmation, as
the case may be
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party B An executed copy of the Within 30 calendar days No
Indenture after the date of
Confirmation
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party B Noteholder Report Each Determination Date or Yes
otherwise in accordance
with the terms of the
Indenture
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party B Monthly report At such time as each Yes
Monthly Report is
delivered to the Indenture
Trustee
------------------------------- ---------------------------- ---------------------------- ----------------------------
Party A A guarantee of Xxxxxx Upon execution of the No
Brothers Holdings Inc. assignment of this
substantially in the form Transaction
of Exhibit A to this
Confirmation
------------------------------- ---------------------------- ---------------------------- ----------------------------
6) Miscellaneous.
(a) Address for Notices: For the purposes of Section 12(a) of
the ISDA Master Agreement:
Address for notices or communications to Party A:
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 8 of 14
Address: Xxxxxx Brothers Special Financing Inc.
c/x Xxxxxx Brothers Inc.
Transaction Management Group
Corporate Advisory Division
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Documentation Manager
Telephone (000) 000-0000
No.:
Facsimile (000) 000-0000
No.:
Address for notices or communications to Party B:
Address: Countrywide Home Loans, Inc.
0000 Xxxx Xxxxxxx
Xxxxxxxxx, Xxxxxxxxxx 00000
Attention: Legal Department
Telephone 000-000-0000
No.:
Facsimile 000-000-0000
No.:
(b) Process Agent.
For the purpose of Section 13(c) of the ISDA Master
Agreement:
Party A appoints as its
Process Agent: Not Applicable
Party B appoints as its
Process Agent: Not Applicable
(c) Offices.
The provisions of Section 10(a) of the ISDA Master
Agreement will not apply to this Transaction; neither
Party A nor Party B have any Offices other than as set
forth in the Notices Section and Party A agrees that,
for purposes of Section 6(b) of the ISDA Master
Agreement, it shall not in future have any Office
other than one in the United States.
(d) Multibranch Party. For the purpose of Section 10(c) of the
ISDA Master Agreement:
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 9 of 14
Party A is not a Multibranch Party.
Party B is not a Multibranch Party.
(e) Credit Support Document.
With respect to Party A, the guaranty of Xxxxxx
Brothers Holdings Inc. provided by Party A. With
respect to Party B, from and including the date of its
execution, the Indenture.
(f) Credit Support Provider.
Party A: Xxxxxx Brothers Holdings Inc.
Party B: Not Applicable
(g) Governing Law.
The parties to this Transaction hereby agree that the
law of the State of New York shall govern their rights
and duties in whole.
(h) Jurisdiction.
Section 13(b) is hereby amended by: (x) deleting in
the second line subparagraph (i) thereof the word
"non-"; and (y) deleting the final paragraph thereof.
(i) Severability.
If any term, provision, covenant, or condition of this
Transaction, or the application thereof to any party
or circumstance, shall be held to be invalid or
unenforceable (in whole or in part) for any reason,
the remaining terms, provisions, covenants, and
conditions hereof shall continue in full force and
effect as if this Transaction had been executed with
the invalid or unenforceable portion eliminated, so
long as this Transaction as so modified continues to
express, without material change, the original
intentions of the parties as to the subject matter of
this Transaction and the deletion of such portion of
this Transaction will not substantially impair the
respective benefits or expectations of the parties;
provided however that this severability provision
shall not be applicable if any provision of Section 2,
5, 6 or 13 (or any definition or provision in Section
14 to the extent it relates to, or is used in or
connection with any such Section) shall be held to be
invalid or unenforceable.
The parties shall endeavor to engage in good faith negotiations to
replace any invalid or unenforceable term, provision, covenant or
condition with a valid or
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 10 of 14
enforceable term, provision, covenant or condition, the economic
effect of which comes as close as possible to that of the invalid
or unenforceable term, provision, covenant or condition.
(j) Consent to Recording.
Each party hereto consents to the monitoring or
recording, at any time and from time to time, by the
other party of any and all communications between
marketing and trading of the parties and waives any
further notice of such monitoring or recording.
(k) Waiver of Jury Trial.
Each party waives any right it may have to a trial by
jury in respect of any Proceedings relating to this
Transaction or any Credit Support Document.
(l) Party A will not unreasonably withhold or delay its consent
to an assignment of this Transaction to any other third
party.
(m) Set-off. The provisions for Set-off set forth in Section
6(e) of the ISDA Master Agreement shall not apply for
purposes of this Transaction.
(n) Representations.
Section 3 of the ISDA Master Agreement is hereby
amended by adding the following additional subsection:
Eligible Contract Participant. It is an "eligible
contract participant" as defined in the Commodity
Futures Modernization Act of 2000.
(o) Additional Representations and Warranties of Party B. Party
B represents to Party A in accordance with Section 3 of the
ISDA Master Agreement (which representations will be deemed
to be repeated by Party B at all times until the termination
of this Transaction) that:
(i) Constitutional Documents. Party B is in compliance, in
all material respects, with its constitutional
documents (including, but not limited to, the
indenture, as amended from time-to-time, and any and
all resolutions, investment policies, guidelines,
procedures or restrictions), and each Transaction
contemplated hereunder is and will be an authorized
and permitted transaction thereunder and an
Authorizing Resolution is in full force and effect.
(ii) Compliance with Laws. Party B is in compliance, in all
respects, with all applicable laws, rules,
regulations, interpretations, guidelines, procedures,
and policies of applicable regulatory
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 11 of 14
authorities affecting Party B, this Transaction, or
the performance of Party B's obligations hereunder.
(p) Third-Party Beneficiary. Party B agrees with Party A that
Party A shall be an express third-party beneficiary of the
Indenture and the Cap Contract Administration Agreement.
(q) Amendments to Operative Documents. Party B agrees that it
will obtain Party A's written consent (which consent shall
not be unreasonably withheld) at least ten (10) Business
Days prior to amending or supplementing the Indenture (or
any other transaction document), if such amendment and/or
supplement would: (a) materially adversely affect any of
Party A's rights or obligations hereunder; or (b) modify the
obligations of, or impact the ability of, Party B to fully
perform any of Party B's obligations hereunder.
3. Account Details and Settlement Information:
Account Details of Party A: JPMorgan Chase Bank, New York
ABA #: 000000000
A/C of Xxxxxx Brothers Special
Financing Inc.
A/C # 000-000-000
Account Details of Party B: To be provided under separate
cover.
Please confirm your agreement with the foregoing by executing this
Confirmation and returning such Confirmation, in its entirety, to us at
facsimile number (x0) 000-000-0000 (United States of America), Attention:
Confirmations Group.
Yours sincerely, Accepted and agreed to:
Xxxxxx Brothers Special Financing Inc. Countrywide Home Loans, Inc.
Xxxxxxx Xxxxxx
Xxxxxx Brothers Special Financing Inc.
By: /s/ Xxxxxxx X. Xxxxx
---------------------------
Name: Xxxxxxx X. Xxxxx
Title: Managing Director
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 12 of 14
Appendix A
------------------------------------- -------------------------------- -------------------------------
Calculation Periods Calculation Periods Notional Amount (USD)
from and including to but excluding
------------------------------------- -------------------------------- -------------------------------
12/29/06 02/15/07 1,720,000,000.00
------------------------------------- -------------------------------- -------------------------------
02/15/07 03/15/07 1,663,349,426.00
------------------------------------- -------------------------------- -------------------------------
03/15/07 04/16/07 1,608,564,782.00
------------------------------------- -------------------------------- -------------------------------
04/16/07 05/15/07 1,555,584,603.00
------------------------------------- -------------------------------- -------------------------------
05/15/07 06/15/07 1,504,349,453.00
------------------------------------- -------------------------------- -------------------------------
06/15/07 07/16/07 1,454,801,854.00
------------------------------------- -------------------------------- -------------------------------
07/16/07 08/15/07 1,406,886,218.00
------------------------------------- -------------------------------- -------------------------------
08/15/07 09/17/07 1,360,548,790.00
------------------------------------- -------------------------------- -------------------------------
09/17/07 10/15/07 1,315,737,588.00
------------------------------------- -------------------------------- -------------------------------
10/15/07 11/15/07 1,272,402,339.00
------------------------------------- -------------------------------- -------------------------------
11/15/07 12/17/07 1,230,494,427.00
------------------------------------- -------------------------------- -------------------------------
12/17/07 01/15/08 1,189,966,838.00
------------------------------------- -------------------------------- -------------------------------
01/15/08 02/15/08 1,150,774,107.00
------------------------------------- -------------------------------- -------------------------------
02/15/08 03/17/08 1,112,872,265.00
------------------------------------- -------------------------------- -------------------------------
03/17/08 04/15/08 1,076,218,792.00
------------------------------------- -------------------------------- -------------------------------
04/15/08 05/15/08 1,040,772,570.00
------------------------------------- -------------------------------- -------------------------------
05/15/08 06/16/08 1,006,493,834.00
------------------------------------- -------------------------------- -------------------------------
06/16/08 07/15/08 973,344,130.00
------------------------------------- -------------------------------- -------------------------------
07/15/08 08/15/08 941,286,268.00
------------------------------------- -------------------------------- -------------------------------
08/15/08 09/15/08 910,284,286.00
------------------------------------- -------------------------------- -------------------------------
09/15/08 10/15/08 880,303,405.00
------------------------------------- -------------------------------- -------------------------------
10/15/08 11/17/08 851,309,994.00
------------------------------------- -------------------------------- -------------------------------
11/17/08 12/15/08 823,271,525.00
------------------------------------- -------------------------------- -------------------------------
12/15/08 01/15/09 796,156,547.00
------------------------------------- -------------------------------- -------------------------------
01/15/09 02/17/09 769,934,640.00
------------------------------------- -------------------------------- -------------------------------
02/17/09 03/16/09 744,576,390.00
------------------------------------- -------------------------------- -------------------------------
03/16/09 04/15/09 720,053,350.00
------------------------------------- -------------------------------- -------------------------------
04/15/09 05/15/09 696,338,009.00
------------------------------------- -------------------------------- -------------------------------
05/15/09 06/15/09 673,403,765.00
------------------------------------- -------------------------------- -------------------------------
06/15/09 07/15/09 651,224,890.00
------------------------------------- -------------------------------- -------------------------------
07/15/09 08/17/09 629,776,504.00
------------------------------------- -------------------------------- -------------------------------
08/17/09 09/15/09 609,034,547.00
------------------------------------- -------------------------------- -------------------------------
09/15/09 10/15/09 588,975,750.00
------------------------------------- -------------------------------- -------------------------------
10/15/09 11/16/09 569,577,614.00
------------------------------------- -------------------------------- -------------------------------
11/16/09 12/15/09 550,818,376.00
------------------------------------- -------------------------------- -------------------------------
12/15/09 01/15/10 532,676,994.00
------------------------------------- -------------------------------- -------------------------------
01/15/10 02/16/10 515,133,118.00
------------------------------------- -------------------------------- -------------------------------
02/16/10 03/15/10 498,167,066.00
------------------------------------- -------------------------------- -------------------------------
03/15/10 04/15/10 481,759,808.00
------------------------------------- -------------------------------- -------------------------------
04/15/10 05/17/10 465,892,939.00
------------------------------------- -------------------------------- -------------------------------
05/17/10 06/15/10 450,548,660.00
------------------------------------- -------------------------------- -------------------------------
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 13 of 14
------------------------------------- -------------------------------- -------------------------------
Calculation Periods Calculation Periods Notional Amount (USD)
from and including to but excluding
------------------------------------- -------------------------------- -------------------------------
06/15/10 07/15/10 435,709,757.00
------------------------------------- -------------------------------- -------------------------------
07/15/10 08/16/10 421,359,587.00
------------------------------------- -------------------------------- -------------------------------
08/16/10 09/15/10 407,482,051.00
------------------------------------- -------------------------------- -------------------------------
09/15/10 10/15/10 394,061,583.00
------------------------------------- -------------------------------- -------------------------------
10/15/10 11/15/10 381,083,128.00
------------------------------------- -------------------------------- -------------------------------
11/15/10 12/15/10 368,532,127.00
------------------------------------- -------------------------------- -------------------------------
12/15/10 01/18/11 356,394,503.00
------------------------------------- -------------------------------- -------------------------------
01/18/11 02/15/11 344,656,639.00
------------------------------------- -------------------------------- -------------------------------
02/15/11 03/15/11 333,305,369.00
------------------------------------- -------------------------------- -------------------------------
03/15/11 04/15/11 322,327,961.00
------------------------------------- -------------------------------- -------------------------------
04/15/11 05/16/11 311,712,099.00
------------------------------------- -------------------------------- -------------------------------
05/16/11 06/15/11 301,445,877.00
------------------------------------- -------------------------------- -------------------------------
06/15/11 07/15/11 291,517,778.00
------------------------------------- -------------------------------- -------------------------------
07/15/11 08/15/11 281,916,961.00
------------------------------------- -------------------------------- -------------------------------
08/15/11 09/15/11 272,632,336.00
------------------------------------- -------------------------------- -------------------------------
09/15/11 10/17/11 263,652,409.00
------------------------------------- -------------------------------- -------------------------------
10/17/11 11/15/11 254,965,957.00
------------------------------------- -------------------------------- -------------------------------
11/15/11 12/15/11 246,565,735.00
------------------------------------- -------------------------------- -------------------------------
12/15/11 01/17/12 238,442,309.00
------------------------------------- -------------------------------- -------------------------------
01/17/12 02/15/12 230,586,556.00
------------------------------------- -------------------------------- -------------------------------
02/15/12 03/15/12 220,975,722.00
------------------------------------- -------------------------------- -------------------------------
03/15/12 04/16/12 211,765,467.00
------------------------------------- -------------------------------- -------------------------------
04/16/12 05/15/12 202,939,095.00
------------------------------------- -------------------------------- -------------------------------
05/15/12 06/15/12 194,480,606.00
------------------------------------- -------------------------------- -------------------------------
06/15/12 07/16/12 186,374,666.00
------------------------------------- -------------------------------- -------------------------------
07/16/12 08/15/12 178,606,581.00
------------------------------------- -------------------------------- -------------------------------
Risk ID: 1378029L/Effort ID: 1160472/Global Deal ID: 2788180
Page 14 of 14
Exhibit A to Confirmation
GUARANTEE Of XXXXXX BROTHERS HOLDINGS INC.
XXXXXX BROTHERS SPECIAL FINANCING INC. ("Party A") and The Bank of New
York, not in its individual capacity, but solely as Cap Contract Administrator
for CWHEQ Revolving Home Equity Loan Trust, Series 2006-I ("Party B") have
entered into a Transaction as set forth in the Confirmation between them with
Party A's reference number Global ID: 2788180 (the "Transaction"). This
Guarantee is a Credit Support Document as contemplated in the Confirmation.
For value received, and in consideration of the financial accommodation
accorded to Party A by Party B under the Confirmation and the ISDA Master
Agreement, incorporated by reference therein. The Confirmation and such ISDA
Master Agreement are collectively referred to hereafter as the "Agreement".
XXXXXX BROTHERS HOLDINGS INC., a corporation organized and existing under the
laws of the State of Delaware ("Guarantor"), hereby agrees to the following:
(a) Guarantor hereby unconditionally guarantees to Party B the due and
punctual payment of all amounts payable by Party A in connection with such
Transaction when and as Party A's obligations thereunder shall become due and
payable in accordance with the terms of the Agreement (whether at maturity, by
acceleration or otherwise). Guarantor hereby agrees, upon written demand by
Party B, to pay or cause to be paid any such amounts punctually when and as
the same shall become due and payable.
(b) Guarantor hereby agrees that its obligations under this Guarantee
constitute a guarantee of payment when due and not of collection.
(c) Guarantor hereby agrees that its obligations under this Guarantee
shall be unconditional, irrespective of the validity, regularity or
enforceability of the Agreement against Party A (other than as a result of the
unenforceability thereof against Party B), the absence of any action to
enforce Party A's obligations under the Agreement, any waiver or consent by
Party B with respect to any provisions thereof or any other circumstance which
might otherwise constitute a legal or equitable discharge or defense of a
guarantor (excluding the defense of payment or statute of limitations, neither
of which is waived) provided, however, that Guarantor shall be entitled to
exercise any right that Party A could have exercised under the Agreement to
cure any default in respect of its obligations under the Agreement or to
setoff, counterclaim or withhold payment in respect of any Event of Default or
Potential Event of Default in respect of Party B or any Affiliate, but only to
the extent such right is provided to Party A under the Agreement.
(d) This Guarantee shall remain in full force and effect until the first
to occur of (i) receipt by Party B of a written notice of termination from
Guarantor or (ii) none of the obligations of Party A remain outstanding.
Termination of this Guarantee shall not affect Guarantor's liability hereunder
as to obligations incurred or arising out of Transactions entered into prior to
the termination hereof.
Xxxxxx Brothers Holdings Inc.
000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, 00000
1
(e) Guarantor further agrees that this Guarantee shall continue to be
effective or be reinstated, as the case may be, if at any time, payment, or
any part thereof, of any obligation or interest thereon is rescinded or must
otherwise be restored by Party B upon an Event of Default as set forth in
Section 5(a)(vii) of the ISDA Master Agreement affecting Party A or Guarantor.
(f) Guarantor hereby waives (i) promptness, diligence, presentment,
demand of payment, protest, order and, except as set forth in paragraph (a)
hereof, notice of any kind in connection with the Agreement and this
Guarantee, or (ii) any requirement that Party B exhaust any right to take any
action against Party A or any other person prior to or contemporaneously with
proceeding to exercise any right against Guarantor under this Guarantee,
This Guarantee shall be governed by and construed in accordance with the
laws of the State of New York, without regard to conflicts of laws principles.
All capitalized terms not defined in this Guarantee, but defined in the
Agreement, shall have the meanings assigned thereto in the Agreement.
Any notice hereunder will be sufficiently given if given in accordance
with the provisions for notices under the Agreement and will be effective as
set forth therein. All notices hereunder shall be delivered to Xxxxxx Brothers
Holdings Inc., Attention: Corporate Counsel, 0000 Xxxxxx xx Xxxxxxxx, 0xx
Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 XXX with a copy to Xxxxxx Brothers Special
Financing Inc., Attention: Transaction Management, 000 Xxxxxxx Xxxxxx, 00xx
Xxxxx, Xxx Xxxx, XX 00000 XXX.
IN WITNESS WHEREOF, Guarantor has caused this Guarantee to be executed
by its duly authorized officer as of the date of the Agreement.
XXXXXX BROTHERS HOLDINGS INC.
/s/ Xxxxx X. Xxxxxxxxxx III
--------------------------------------
Name: Xxxxx X. Xxxxxxxxxx III
Title: Vice President
Date: December 21, 2006
Xxxxxx Brothers Holdings Inc.
000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, 00000
2
Exhibit II
---------------------
[REGULATION AB AGREEMENT]
-------------------------
Item 1115 Agreement dated as of February 24, 2006 (this "Agreement"),
between COUNTRYWIDE HOME LOANS, INC., a New York corporation ("CHL"), CWABS,
INC., a Delaware corporation ("CWABS"), CWMBS, Inc., a Delaware corporation
("CWMBS"), CWALT, Inc., a Delaware corporation ("CWALT"), CWHEQ, Inc., a
Delaware corporation ("CWHEQ") and XXXXXX BROTHERS SPECIAL FINANCING INC., as
counterparty (the "Counterparty").
RECITALS
WHEREAS, CWABS, CWMBS, CWALT and CWHEQ each have filed Registration
Statements on Form S-3 (each, a "Registration Statement") with the Securities
and Exchange Commission (the "Commission") for purposes of offering mortgage
backed or asset-backed notes and/or certificates (the "Securities") through
special purpose vehicles (each, an "SPV").
WHEREAS, from time to time, on the closing date (the "Closing
Date") of a transaction pursuant to which Securities are offered (each, a
"Transaction"), the Counterparty and CHL or an underwriter or dealer with
respect to the Transaction, enter into certain derivative agreements (each, a
"Derivative Agreement"), including interest rate caps and interest rate or
currency swaps, for purposes of providing certain yield enhancements that are
assigned to the SPV or the related trustee on behalf of the SPV or a swap or
corridor contract administrator (each, an "Administrator").
NOW, THEREFORE, in consideration of the mutual agreements set forth
herein and for other good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged, the parties hereby agree as follows:
Section 1. Definitions
Company Information: As defined in Section 4(a)(i).
Company Financial Information: As defined in Section 2(a)(ii).
Depositor: Means CWABS, CWMBS, CWALT or CWHEQ with respect
to the related Registration Statement for which the entity of the registrant.
GAAP: As defined in Section 3(a)(v).
XXXXX: The Commission's Electronic Data Gathering, Analysis and
Retrieval system.
Exchange Act: The Securities Exchange Act of 1934, as amended and
the rules and regulations promulgated thereunder.
Exchange Act Reports: All Distribution Reports on Form 10-D,
Current Reports on Form 8-K and Annual Reports on Form 10-K that are to be filed
with respect to the related SPV pursuant to the Exchange Act.
D-1
Master Agreement: The ISDA Master Agreement between the
Counterparty and CHL, or if no such Master Agreement exists, the ISDA Master
Agreement assumed to apply to the Derivative Agreement pursuant to its terms.
Prospectus Supplement: The prospectus supplement prepared in
connection with the public offering and sale of the related Securities.
Regulation AB: Subpart 229.1100 - Asset Backed Securities
(Regulation AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be amended from
time to time, and subject to such clarification and interpretation as have been
provided by the Commission in the adopting release (Asset-Backed Securities,
Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005)) or
by the staff of the Commission, or as may be provided by the Commission or its
staff from time to time.
Securities Act: The Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder.
Section 2. Information to be Provided by the Counterparty.
(a) Prior to printing the related Prospectus Supplement,
(i) the Counterparty shall provide to the related Depositor such
information regarding the Counterparty, as a derivative
instrument counterparty, as is reasonably requested by the
related Depositor for the purpose of compliance with Item
1115(a)(1) of Regulation AB. Such information shall include,
at a minimum:
(A) The Counterparty's legal name (and any d/b/a);
(B) the organizational form of the Counterparty;
(C) a description of the general character of the business
of the Counterparty;
(D) a description of any affiliation or relationship (as set
forth in Item 1119) between the Counterparty and any of
the following parties:
(1) CHL (or any other sponsor identified to the
Counterparty by CHL);
(2) the related Depositor (as identified to the
Counterparty by CHL);
(3) the SPV;
(4) Countrywide Home Loans Servicing LP (or any other
servicer or master servicer identified to the
Counterparty by CHL);
D-2
(5) The Bank of New York (or any other trustee
identified to the Counterparty by CHL);
(6) any originator identified to the Counterparty by
CHL;
(7) any enhancement or support provider identified to
the Counterparty by CHL; and
(8) any other material transaction party identified to
the Counterparty by CHL.
(ii) if requested by the related Depositor prior to the related
Depositor taking the steps necessary to suspend its
obligation to file Exchange Act Reports, with respect to the
SPV, under Sections 13 and 15(d) of the Exchange Act, in
accordance with the requirements of Regulation AB, the
Counterparty shall:
(A) provide the financial data required by Item
1115(b)(1) or (b)(2) of Regulation AB (as specified
by the related Depositor to the Counterparty) with
respect to the Counterparty (or any entity that
consolidates the Counterparty) and any affiliated
entities providing derivative instruments to the
SPV (the "Company Financial Information"), in a
form appropriate for use in the Prospectus
Supplement and in an XXXXX-compatible form (if not
incorporated by reference) and hereby authorizes
the related Depositor to incorporate by reference
the financial data required by Item 1115(b)(2) of
Regulation AB; and
(B) if applicable, cause its accountants to issue their
consent to the filing or the incorporation by reference
of such financial statements in the Registration
Statement.
(b) Following the Closing Date and until the related Depositor takes
the steps necessary to suspend its obligation to file Exchange Act
Reports, with respect to the SPV, under Sections 13 and 15(d) of
the Exchange Act, with respect to a Transaction,
(i) no later than the 25th calendar day of each month, the
Counterparty shall (1) notify the related Depositor in
writing of any affiliations or relationships that develop
following the Closing Date between the Counterparty and any
of the parties specified in Section 2(a)(i)(D) (and any
other parties identified in writing by the related
Depositor) and (2) provide to the related Depositor a
description of such proceedings, affiliations or
relationships as described in Section 2(b)(i)(1);
(ii) if the Counterparty provided Company Financial Information to
the related Depositor for the Prospectus Supplement, within 5
Business Days of the release of any updated financial data,
the Counterparty shall (1)
D-3
provide current Company Financial Information as required
under Item 1115(b) of Regulation AB to the related Depositor
in an XXXXX-compatible form (if not incorporated by
reference) and hereby authorizes the related Depositor to
incorporate by reference the financial data required by Item
1115(b)(2) of Regulation AB, and (2) if applicable, cause its
accountants to issue their consent to filing or incorporation
by reference of such financial statements in the Exchange Act
Reports of the SPV; and
(iii) if the related Depositor requests Company Financial
Information from the Counterparty, for the purpose of
compliance with Item 1115(b) of Regulation AB following the
Closing Date, the Counterparty shall upon five Business Days
written notice either (A), (1) provide current Company
Financial Information as required under Item 1115(b) of
Regulation AB to the related Depositor in an XXXXX-compatible
form (if not incorporated by reference) and hereby authorizes
the related Depositor to incorporate by reference the
financial data required by Item 1115(b)(2) of Regulation AB,
(2) if applicable, cause its accountants to issue their
consent to filing or incorporation by reference of such
financial statements in the Exchange Act Reports of the SPV
and (3) within 5 Business Days of the release of any updated
financial data, provide current Company Financial Information
as required under Item 1115(b) of Regulation AB to the
related Depositor in an XXXXX-compatible form and if
applicable, cause its accountants to issue their consent to
filing or incorporation by reference of such financial
statements in the Exchange Act Reports of the SPV or (B)
assign the Derivative Agreement as provided below.
Section 3. Representations and Warranties and Covenants of the Counterparty.
(a) The Counterparty represents and warrants to the related Depositor,
as of the date on which information is first provided to the
related Depositor under Section 2(a)(ii), Section 2(b)(ii) or
Section 2(b)(iii)(A), that, except as disclosed in writing the
related Depositor prior to such date:
(i) The Counterparty or the entity that consolidates the
Counterparty is required to file reports with the Commission
pursuant to section 13(a) or 15(d) of the Exchange Act.
(ii) The Counterparty or the entity that consolidates the
Counterparty has filed all reports and other materials
required to be filed by such requirements during the
preceding 12 months (or such shorter period that such party
was required to file such reports and materials).
(iii) The reports filed by the Counterparty, or entity that
consolidates the Counterparty, include (or properly
incorporate by reference) the financial statements of the
Counterparty.
D-4
(iv) The accountants who certify the financial statements and
supporting schedules included in the Company Financial
Information (if applicable) are independent registered public
accountants as required by the Securities Act.
(v) If applicable, the financial statements included in the
Company Financial Information present fairly the
consolidated financial position of the Counterparty (or the
entity that consolidates the Counterparty) and its
consolidated subsidiaries as at the dates indicated and the
consolidated results of their operations and cash flows for
the periods specified; except as otherwise stated in the
Company Financial Information, said financial statements
have been prepared in conformity with generally accepted
accounting principles ("GAAP") applied on a consistent
basis; and the supporting schedules included in the Company
Financial Information present fairly in accordance with
GAAP the information required to be stated therein. The
selected financial data and summary financial information
included in the Company Financial Information present
fairly the information shown therein and have been compiled
on a basis consistent with that of the audited financial
statements of the Counterparty.
(vi) The Company Financial Information and other Company
Information included or incorporated by reference in the
Registration Statement (including through filing on an
Exchange Act Report), at the time they were or hereafter are
filed with the Commission, complied in all material respects
with the requirements of Item 1115(b) of Regulation AB (in
the case of the Company Financial Information) and, did not
and will not contain an untrue statement of a material fact
or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein,
in the light of the circumstances under which they were made,
not misleading.
(b) If the Counterparty has provided Company Financial Information that
is incorporated by reference into the Registration Statement of the
related Depositor, the Counterparty, so long as the related
Depositor is required to file Exchange Act Reports with respect to
the SPV, will file promptly all documents required to be filed with
the Commission pursuant to Section 13 or 14 of the Exchange Act. If
permitted by the Exchange Act, the related Depositor will take the
steps necessary to suspend its obligation to file Exchange Act
Reports, with respect to the SPV, under Sections 13 and 15(d) of
the Exchange Act.
(c) If at any time, the Counterparty ceases to meet the requirements of
Item 1101(c)(1) of Regulation AB with respect to the incorporation
by reference of the financial information of third parties, the
Counterparty shall provide notice to the related Depositor, and if
any Company Financial Information is required to be included in the
Registration Statement, or the Exchange Act Reports of the SPV,
will provide to the related Depositor such Company Financial
Information in
D-5
XXXXX-compatible format no later than the 25th calendar day of the
month following the date on which the Counterparty ceased to meet
the requirements.
(d) The Counterparty agrees that the terms of this Agreement shall be
incorporated by reference into any Derivative Agreement so that
each SPV who is a beneficiary of a Derivative Agreement shall be an
express third party beneficiary of this Agreement.
Section 4. Indemnification; Remedies
(a) The Counterparty shall indemnify CHL and the related Depositor,
each person responsible for execution of a certification pursuant
to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act; each
broker dealer acting as underwriter, each person who controls any
of such parties (within the meaning of Section 15 of the Securities
Act and Section 20 of the Exchange Act); and the respective present
and former directors, officers, employees and agents of each of the
foregoing, and shall hold each of them harmless from and against
any losses, damages, penalties, fines, forfeitures, legal fees and
expenses and related costs, judgments, and any other costs, fees
and expenses that any of them may sustain arising out of or based
upon:
(i) (A) any untrue statement of a material fact contained or
alleged to be contained in any information, report,
accountants' consent or other material provided in written
or electronic form under Section 2 by or on behalf of the
Counterparty (collectively, the "Company Information"), or
(B) the omission or alleged omission to state in the
Company Information a material fact required to be stated
in the Company Information or necessary in order to make
the statements therein, in the light of the circumstances
under which they were made, not misleading;
(ii) any breach by the Counterparty of a representation or
warranty set forth in Section 3(a) and made as of a date
prior to the Closing Date, to the extent that such breach is
not cured by the Closing Date, or any breach by the
Counterparty of a representation or warranty pursuant to
Section 3 to the extent made as of a date subsequent to the
Closing Date.
(b) (i) Any failure by the Counterparty to deliver any
information, report, accountants' consent or other material
when and in any case only as required under Section 2 or
any breach by the Counterparty of a representation or
warranty set forth in Section 3 and made as of a date prior
to the Closing Date, to the extent that such breach is not
cured by the Closing Date (or in the case of information
needed for purposes of printing the Prospectus Supplement,
the date of printing of the Prospectus Supplement), shall,
except as provided in clause (ii) of this paragraph,
immediately and automatically, without notice or grace
period, constitute an Additional Termination Event (as
defined in the Master Agreement) with the Counterparty as
the sole Affected Party (as defined in the Master
D-6
Agreement) under the Derivative Agreement. Following such
termination, a termination payment (if any) shall be payable
by the applicable party as determined by the application of
Section 6(e)(ii) of the Master Agreement, with Market
Quotation and Second Method being the applicable method for
determining the termination payment (notwithstanding anything
in the Derivative Agreement to the contrary).
(ii) If the Counterparty has failed to deliver any information,
report, certification or accountants' consent when and as
required under Section 2, which continues unremedied for the
lesser of ten calendar days after the date on which such
information, report, certification or accountants' consent
was required to be delivered or such period in which the
applicable Exchange Act Report for which such information is
required can be timely filed (without taking into account any
extensions permitted to be filed), or if the Counterparty has
provided Company Information, any breach by the Counterparty
of a representation or warranty pursuant to Section 3 to the
extent made as of a date subsequent to such closing date, and
the Counterparty has not, at its own cost, within the period
in which the applicable Exchange Act Report for which such
information is required can be timely filed caused another
entity (which meets any applicable ratings threshold in the
Derivative Agreement) to replace the Counterparty as party to
the Derivative Agreement that (i) has signed an agreement
with CHL and the Depositors substantially in the form of this
Agreement, (ii) has agreed to deliver any information,
report, certification or accountants' consent when and as
required under Section 2 hereof and (iii) is approved by the
Depositor (which approval shall not be unreasonably withheld)
and any rating agency, if applicable, on terms substantially
similar to the Derivative Agreement, then an Additional
Termination Event (as defined in the Master Agreement) shall
have occurred with the Counterparty as the sole Affected
Party. Following such termination, a termination payment (if
any) shall be payable by the applicable party as determined
by the application of Section 6(e)(ii) of the Master
Agreement, with Market Quotation and Second Method being the
applicable method for determining the termination payment
(notwithstanding anything in the Derivative Agreement to the
contrary).
(iii) In the event that the Counterparty or the SPV has found a
replacement entity in accordance with Section 2(b)(ii), the
Counterparty shall promptly reimburse the SPV for all
reasonable incidental expenses incurred by the SPV, as such
are incurred, in connection with the termination of the
Counterparty as counterparty and the entry into a new
Derivative Agreement. The provisions of this paragraph shall
not limit whatever rights the SPV may have under other
provisions of this Agreement or otherwise, whether in equity
or at law, such as an action for damages, specific
performance or injunctive relief.
D-7
Section 5. Miscellaneous.
(a) Construction. Throughout this Agreement, as the context requires,
(a) the singular tense and number includes the plural, and the
plural tense and number includes the singular; (b) the past tense
includes the present, and the present tense includes the past; and
(c) references to parties, sections, schedules, and exhibits mean
the parties, sections, schedules, and exhibits of and to this
Agreement. The section headings in this Agreement are inserted only
as a matter of convenience, and in no way define, limit, extend, or
interpret the scope of this Agreement or of any particular section.
(b) Assignment. None of the parties may assign their rights under this
Agreement without the prior written consent of the other parties.
Subject to the foregoing, this Agreement shall be binding on and
inure to the benefit of the parties and their respective successors
and permitted assigns.
(c) No Third-Party Benefits Except as Specified. None of the provisions
of this Agreement are intended to benefit, or to be enforceable by,
any third-party beneficiaries except the related SPV and any
trustee of an SPV or any Administrator.
(d) Governing Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the State of New York without
regard to the conflict of laws principles thereof.
(e) Amendment and Waiver. This Agreement may not be modified or amended
except by an instrument in writing signed by the parties hereto. No
waiver of any provision of this Agreement or of any rights or
obligations of any party under this Agreement shall be effective
unless in writing and signed by the party or parties waiving
compliance, and shall be effective only in the specific instance
and for the specific purpose stated in that writing.
(f) Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.
(g) Additional Documents. Each party hereto agrees to execute any and
all further documents and writings and to perform such other
actions which may be or become reasonably necessary or expedient to
effectuate and carry out this Agreement.
(h) Severability. Any provision hereof which is prohibited or
unenforceable shall be ineffective only to the extent of such
prohibition or unenforceability without invalidating the remaining
provisions hereof.
(i) Integration. This Agreement contains the entire understanding of
the parties with respect to the subject matter hereof. There are no
restrictions, agreements, promises, representations, warranties,
covenants or undertakings with respect to
D-8
the subject matter hereof other than those expressly set forth or
referred to herein. This Agreement supersedes all prior agreements
and understandings between the parties with respect to its subject
matter.
D-9
IN WITNESS WHEREOF, the parties hereto have caused their names to
be signed hereto by their respective officers thereunto duly authorized as of
the day and year first above written.
CWABS, INC.
By: /s/ Xxxxxx Xxxxx
---------------------------------
Name: Xxxxxx Xxxxx
Title: Vice President
CWMBS, INC.
By: /s/ Xxxxxx Xxxxx
---------------------------------
Name: Xxxxxx Xxxxx
Title: Vice President
CWALT, INC.
By: /s/ Xxxxxx Xxxxx
---------------------------------
Name: Xxxxxx Xxxxx
Title: Vice President
CWHEQ, INC.
By: /s/ Xxxxxx Xxxxx
---------------------------------
Name: Xxxxxx Xxxxx
Title: Vice President
COUNTRYWIDE HOME LOANS, INC.
By: /s/ Xxxxxx Xxxxx
---------------------------------
Name: Xxxxxx Xxxxx
Title: Senior Vice President
D-10
XXXXXX BROTHERS SPECIAL FINANCING INC.
By: /s/ Xxxxxxxxxx X. Xxxxxx
----------------------------------
Name: Xxxxxxxxxx X. Xxxxxx
Title: Vice President
D-11
