EXHIBIT 99.4
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The Swap Confirmation
Deutsche Bank
Aktiengesellschaft
To: DEUTSCHE BANK NATIONAL TRUST COMPANY, not in its individual or
corporate capacity but solely as Swap Trustee for the Certificate
Swap Account for IndyMac INDX Mortgage Loan Trust 2006-AR15
Attn: Xxxxxxx Xxxxx
Fax No: (000) 000-0000
From: DEUTSCHE BANK AG, NEW YORK BRANCH
Date: May 30, 2006
Reference: Global No.
Swap Transaction Confirmation
The purpose of this letter agreement ("Confirmation") is to confirm the terms
and conditions of the Transaction entered into on the Trade Date specified
below (the "Transaction") between Deutsche Bank AG, New York Branch ("DBAG")
and Deutsche Bank National Trust Company, not in its individual or corporate
capacity but solely as Swap Trustee for the Certificate Swap Account for
IndyMac INDX Mortgage Loan Trust 2006-AR15 ("Counterparty") created under the
Pooling and Servicing Agreement for IndyMac INDX Mortgage Loan Trust 2006-AR15
dated as of May 1, 2006 among IndyMac Bank, F.S.B., as depositor, IndyMac
Bank, F.S.B., as Seller, IndyMac Bank, F.S.B., as servicer, and Deutsche Bank
National Trust Company, as trustee (the "Pooling and Servicing Agreement").
The definitions and provisions contained in the 2000 ISDA Definitions (the
"2000 Definitions"), as published by the International Swaps and Derivatives
Association, Inc. ("ISDA") are incorporated into this Confirmation. In the
event of any inconsistency between the 2000 Definitions and this Confirmation,
this Confirmation will govern for the purposes of the Transaction. References
herein to a "Transaction" shall be deemed to be references to a "Swap
Transaction" for the purposes of the 2000 Definitions. Capitalized terms used
in this Confirmation and not defined in this Confirmation or the 2000
Definitions shall have the respective meaning assigned in the Agreement. Each
party hereto agrees to make payment to the other party hereto in accordance
with the provisions of this Confirmation and of the Agreement.
This Confirmation supersedes any previous Confirmation or other communication
with respect to the Transaction and evidences a complete and binding agreement
between you and us as to the terms of the Swap Transaction to with this
Confirmation relates. This Confirmation is subject to the terms and conditions
of the ISDA Master Agreement dated as of May 30, 2006, between each of DBAG
and Counterparty and shall form a part of and be subject to that ISDA Master
Agreement.
Capitalized terms used in this Confirmation and not defined in the
Agreement, this Confirmation or the 2000 Definitions shall have the respective
meaning assigned in the Pooling and Servicing Agreement.
1. The terms of the particular Swap Transaction to which this Confirmation
relates are as follows:
General Terms
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Trade Date: May 30, 2006
Effective Date: June 25, 2006
Termination Date: April 25, 2011, subject to adjustment in
accordance with the Following Business Day
Convention.
Notional Amount: With respect to any Calculation Period the
amount set forth for such period in Annex A
attached hereto.
Floating Amounts:
Floating Rate Payer: DBAG
Floating Rate Payer Early Payment shall be applicable. For each
Payment Dates: Calculation Period, the Floating Rate Payer
Payment Date shall be the first Business Day
prior to the related Floating Rate Payer
Period End Date.
Floating Rate Payer The 25th of each month in each year from (and
Period End Dates: including) July 25, 2006 to (and including)
the Termination Date, subject to adjustment
in accordance with the Following Business
Day Convention.
Floating Amount: The Floating Amount payable by DBAG
shall be an amount equal to the product of
(i) the Notional Amount for such Floating
Rate Payer Payment Date, (ii) the Floating
Rate, (iii) 250 and (iv) the Floating rate
Day Count Fraction.
Floating Rate Option: USD-LIBOR-BBA.
Designated Maturity: One Month
Spread: None
Floating Rate Day Actual/360
Count Fraction:
Reset Dates: The first day of each Calculation Period.
Compounding: Inapplicable
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Fixed Amounts:
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Fixed Rate Payer: Counterparty
Fixed Rate Payer The 25th of each month in each year from (and
Payment Dates: including) July 25, 2006 to (and including)
the Termination Date, subject to adjustment
in accordance with the Following Business
Day Convention.
Fixed Rate Payer The 25th of each month in each year from (and
Period End Dates: including) July 25, 2006 to (and including)
April 25, 2011, with No Adjustment.
Fixed Amounts: The Fixed Amount payable by Counterparty shall
be an amount equal to the product of (i) the
Notional Amount for such Fixed Rate Payer
Payment Date, (ii) the Fixed Rate, (iii) 250
and (iv) the Fixed Rate Day Count Fraction.
Fixed Rate: 5.3100%
Fixed Rate Day Count 30/360
Fraction:
Business Days: New York
Amendment to Section 2(c) Notwithstanding anything to the contrary in
of the Agreement: Section 2(c) of the Agreement, amounts that
are payable with respect to Calculation
Periods which end in the same calendar month
(prior to any adjustment of period end
dates) shall be netted, as provided in
Section 2(c) of the Agreement, even if such
amounts are not due on the same payment
date. For avoidance of doubt any payments
pursuant to Section 6(e) of the Agreement
shall not be subject to netting.
Procedural Terms:
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Account Details:
Payments to DBAG: Deutsche Bank Trust Company Americas, New York
Acct# 01 473 969
Swift Code: XXXXXX00
Payments to Deutsche Bank Trust Company - Americas
Counterparty: ABA # 000000000
Bene Acct. # 000-00-000
Bene Acct. Name NYLTD Funds Control - Stars
West
3
Ref: IndyMac INDX 2006-AR15 (IN06AF) Cap/SWAP
payment
Assignment: DBAG will not unreasonably withhold or delay
its consent to an assignment of this
Transaction to any other third party.
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Please confirm that the foregoing correctly sets forth the terms of our
agreement by having an authorized officer sign this Confirmation and return it
via facsimile to:
Attention: Derivative Documentation
Telephone: 00 00 0000 0000
Facsimile: 44 20 7545 9761
E-mail: xxxxxxxxxx.xxxxxxxxxxxxx@xx.xxx
This message will be the only form of Confirmation dispatched by us. If you
wish to exchange hard copy forms of this Confirmation, please contact us.
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For and on behalf of For and on behalf of
DEUTSCHE BANK AG, NEW YORK BRANCH DEUTSCHE BANK NATIONAL TRUST
COMPANY, not in its individual or
corporate capacity but solely as Swap
Trustee for the Certificate Swap Account
for IndyMac INDX Mortgage Loan Trust
2006-AR15
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/s/ Xxxxxx Xxxxx
_____________________________________ _____________________________________
Name: Name: Xxxxxx Xxxxx
Title: Title: Associate
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___________________________________
Name:
Title:
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5
Annex A
Period Start Date Period End Date Notional Amount
25-Jun-06 25-Jul-06 4,930,705.41
25-Jul-06 25-Aug-06 4,785,795.48
25-Aug-06 25-Sep-06 4,645,141.51
25-Sep-06 25-Oct-06 4,508,618.57
25-Oct-06 25-Nov-06 4,376,105.40
25-Nov-06 25-Dec-06 4,247,484.29
25-Dec-06 25-Jan-07 4,122,640.98
25-Jan-07 25-Feb-07 4,001,464.59
25-Feb-07 25-Mar-07 3,883,847.46
25-Mar-07 25-Apr-07 3,769,685.11
25-Apr-07 25-May-07 3,658,876.12
25-May-07 25-Jun-07 3,551,322.04
25-Jun-07 25-Jul-07 3,446,927.32
25-Jul-07 25-Aug-07 3,345,599.21
25-Aug-07 25-Sep-07 3,247,247.67
25-Sep-07 25-Oct-07 3,151,785.33
25-Oct-07 25-Nov-07 3,059,127.34
25-Nov-07 25-Dec-07 2,969,191.39
25-Dec-07 25-Jan-08 2,881,897.54
25-Jan-08 25-Feb-08 2,797,168.24
25-Feb-08 25-Mar-08 2,714,928.17
25-Mar-08 25-Apr-08 2,635,104.26
25-Apr-08 25-May-08 2,557,625.56
25-May-08 25-Jun-08 2,482,423.21
25-Jun-08 25-Jul-08 2,409,430.38
25-Jul-08 25-Aug-08 2,338,582.18
25-Aug-08 25-Sep-08 2,269,815.64
25-Sep-08 25-Oct-08 2,203,069.64
25-Oct-08 25-Nov-08 2,138,284.84
25-Nov-08 25-Dec-08 2,075,403.65
25-Dec-08 25-Jan-09 2,014,370.18
25-Jan-09 25-Feb-09 1,955,130.17
25-Feb-09 25-Mar-09 1,897,630.94
25-Mar-09 25-Apr-09 1,841,821.38
25-Apr-09 25-May-09 1,717,699.66
25-May-09 25-Jun-09 1,667,192.48
25-Jun-09 25-Jul-09 1,618,169.27
25-Jul-09 25-Aug-09 1,570,586.46
25-Aug-09 25-Sep-09 1,524,401.75
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25-Sep-09 25-Oct-09 1,479,574.09
25-Oct-09 25-Nov-09 1,436,063.63
25-Nov-09 25-Dec-09 1,393,831.69
25-Dec-09 25-Jan-10 1,352,840.72
25-Jan-10 25-Feb-10 1,313,054.29
25-Feb-10 25-Mar-10 1,274,437.01
25-Mar-10 25-Apr-10 1,236,954.56
25-Apr-10 25-May-10 1,200,573.61
25-May-10 25-Jun-10 1,165,261.81
25-Jun-10 25-Jul-10 1,130,987.77
25-Jul-10 25-Aug-10 1,097,720.99
25-Aug-10 25-Sep-10 1,065,431.91
25-Sep-10 25-Oct-10 1,034,091.80
25-Oct-10 25-Nov-10 1,003,672.80
25-Nov-10 25-Dec-10 974,147.85
25-Dec-10 25-Jan-11 945,490.69
25-Jan-11 25-Feb-11 917,675.84
25-Feb-11 25-Mar-11 890,678.55
25-Mar-11 25-Apr-11 864,474.80
7
