Exhibit 99.4
ISDA(R)
CREDIT SUPPORT ANNEX
to the Schedule to the
ISDA Master Agreement
dated as of December 28, 2006 between
Credit Suisse International (hereinafter referred
to as "Party A" or "Pledgor")
and
The supplemental interest trust with respect to the IndyMac INDX Mortgage
Loan Trust 2006-AR41 (the "Supplemental Interest Trust") by Deutsche Bank
National Trust Company, not individually, but solely as supplemental
interest trustee (the "Supplemental Interest Trust Trustee")
(hereinafter referred to as "Party B" or "Secured Party").
For the avoidance of doubt, and notwithstanding anything to the contrary that
may be contained in the Agreement, this Credit Support Annex shall relate
solely to the Transaction documented in the Confirmation dated December 28,
2009, between Party A and Party B, External ID Number 53178327.
Paragraph 13. Elections and Variables.
(a) Security Interest for "Obligations". The term "Obligations" as used in
this Annex includes the following additional obligations:
With respect to Party A: not applicable.
With respect to Party B: not applicable.
(b) Credit Support Obligations.
(i) Delivery Amount, Return Amount and Credit Support Amount.
(A) "Delivery Amount" has the meaning specified in Paragraph 3(a)
as amended (I) by deleting the words "upon a demand made by the
Secured Party on or promptly following a Valuation Date" and
inserting in lieu thereof the words "not later than the close
of business on each Valuation Date" and (II) by deleting in its
entirety the sentence beginning "Unless otherwise specified in
Paragraph 13" and ending "(ii) the Value as of that Valuation
Date of all Posted Credit Support held by the Secured Party."
and inserting in lieu thereof the following:
The "Delivery Amount" applicable to the Pledgor for any
Valuation Date will equal the greatest of
(1) the amount by which (a) the S&P Credit Support Amount for
such Valuation Date exceeds (b) the S&P Value as of such
Valuation Date of all Posted Credit Support held by the
Secured Party, and
(2) the amount by which (a) the Xxxxx'x Credit Support Amount
for such Valuation Date exceeds (b) the Xxxxx'x Value as
of such Valuation Date of all Posted Credit Support held
by the Secured Party.
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
(B) "Return Amount" has the meaning specified in Paragraph 3(b) as
amended by deleting in its entirety the sentence beginning
"Unless otherwise specified in Paragraph 13" and ending "(ii)
the Credit Support Amount." and inserting in lieu thereof the
following:
The "Return Amount" applicable to the Secured Party for any
Valuation Date will equal the least of
(1) the amount by which (a) the S&P Value as of such Valuation
Date of all Posted Credit Support held by the Secured
Party exceeds (b) the S&P Credit Support Amount for such
Valuation Date, and
(2) the amount by which (a) the Xxxxx'x Value as of such
Valuation Date of all Posted Credit Support held by the
Secured Party exceeds (b) the Xxxxx'x Credit Support
Amount for such Valuation Date.
(C) "Credit Support Amount" shall not apply. For purposes of
calculating any Delivery Amount or Return Amount for any
Valuation Date, reference shall be made to the S&P Credit
Support Amount or the Xxxxx'x Credit Support Amount, in each
case for such Valuation Date, as provided in Paragraphs
13(b)(i)(A) and 13(b)(i)(B), above.
(ii) Eligible Collateral.
On any date, the following items will qualify as "Eligible
Collateral" (for the avoidance of doubt, all Eligible Collateral to
be denominated in USD):
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
S&P/ Xxxxx'x
Valuation Valuation
Collateral Percentage Percentage
----------- ---------- ----------
(A) Cash 100% 100%
(B) Fixed-rate negotiable debt obligations
issued by the U.S. Treasury Department having
a remaining maturity on such date of not more 98.5% 100%
than one year
(C) Fixed-rate negotiable debt obligations issued
by the U.S. Treasury Department having a
remaining maturity on such date of more 89.9% 100%
than one year but not more than ten years
(D) Fixed-rate negotiable debt obligations issued
by the U.S. Treasury Department having a
remaining maturity on such date of more 83.9% 100%
than ten years
(iii) Other Eligible Support.
The following items will qualify as "Other Eligible Support" for the
party specified:
Not applicable.
(iv) Threshold.
(A) "Independent Amount" means zero with respect to Party A and Party B.
(B) "Threshold" means, with respect to Party A and any Valuation Date,
zero if (i) a Collateral Event has occurred and has been continuing
(x) for at least 30 days or (y) since this Annex was executed, or
(ii) a Required Ratings Downgrade Event has occurred and is
continuing; otherwise, infinity.
"Threshold" means, with respect to Party B and any Valuation Date,
infinity.
(C) "Minimum Transfer Amount" means USD 100,000 with respect to Party A
and Party B; provided, however, that if the aggregate Certificate
Principal Balance of the Certificates rated by S&P is at the time of
any transfer less than USD 50,000,000, the "Minimum Transfer Amount"
shall be USD 50,000.
(D) Rounding: The Delivery Amount will be rounded up to the nearest
integral multiple of USD 10,000. The Return Amount will be rounded
down to the nearest integral multiple of USD 1,000.
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
(c) Valuation and Timing.
(i) "Valuation Agent" means Party A. All calculations by the Valuation
Agent must be made in accordance with standard market practice,
including, in the event of a dispute as to the Value of any Eligible
Credit Support or Posted Credit Support, by making reference to
quotations received by the Valuation Agent from one or more Pricing
Sources.
(ii) "Valuation Date" means each Local Business Day on which any of the
S&P Credit Support Amount or the Xxxxx'x Credit Support Amount is
greater than zero.
(iii) "Valuation Time" means the close of business in the city of the
Valuation Agent on the Local Business Day immediately preceding the
Valuation Date or date of calculation, as applicable; provided that
the calculations of Value and Exposure will be made as of
approximately the same time on the same date. The Valuation Agent
will notify each party (or the other party, if the Valuation Agent
is a party) of its calculations not later than the Notification Time
on the applicable Valuation Date (or in the case of Paragraph 6(d),
the Local Business Day following the day on which such relevant
calculations are performed)."
iv) "Notification Time" means 11:00 a.m., New York time, on a Local
Business Day.
(v) External Verification. Notwithstanding anything to the contrary in
the definitions of Valuation Agent or Valuation Date, at any time at
which Party A (or, to the extent applicable, its Credit Support
Provider) does not have a long-term unsubordinated and unsecured
debt rating of at least "BBB+" from S&P, the Valuation Agent shall
(A) calculate the Secured Party's Exposure and the S&P Value of
Posted Credit Suppport on each Valuation Date based on internal
marks and (B) verify such calculations with external marks monthly
by obtaining on the last Local Business Day of each calendar month
two external marks for each Transaction to which this Annex relates
and for all Posted Credit Suport; such verification of the Secured
Party's Exposure shall be based on the higher of the two external
marks. Each external xxxx in respect of a Transaction shall be
obtained from an independent Reference Market-maker that would be
eligible and willing to enter into such Transaction in the absence
of the current derivative provider, provided that an external xxxx
xxx not be obtained from the same Reference Market-maker more than
four times in any 12-month period. The Valuation Agent shall obtain
these external marks directly or through an independent third party,
in either case at no cost to Party B. The Valuation Agent shall
calculate on each Valuation Date (for purposes of this paragraph,
the last Local Business Day in each calendar month referred to above
shall be considered a Valuation Date) the Secured Party's Exposure
based on the greater of the Valuation Agent's internal marks and the
external marks received. If the S&P Value on any such Valuation Date
of all Posted Credit Support then held by the Secured Party is less
than the S&P Credit Support Amount on such Valuation Date (in each
case as determined pursuant to this paragraph), Party A shall,
within three Local Business Days of such Valuation Date, Transfer to
the Secured Party Eligible Credit Support having an S&P Value as of
the date of Transfer at least equal to such deficiency.
(vi) Notice to S&P. At any time at which Party A (or, to the extent
applicable, its Credit Support Provider) does not have a long-term
unsubordinated and unsecured debt rating of at least "BBB+" from
S&P, the Valuation Agent shall provide to S&P not later than the
Notification Time on the Local Business Day following each Valuation
Date its calculations of the Secured Party's Exposure and the S&P
Value of any Eligible Credit Support or Posted Credit Support for
that Valuation Date. The Valuation Agent shall also provide to S&P
any external marks received pursuant to the preceding paragraph.
(d) Conditions Precedent and Secured Party's Rights and Remedies. The
following Termination Events will be a "Specified Condition" for the
party specified (that party being the Affected Party if the Termination
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
Event occurs with respect to that party): With respect to Party A: any
Additional Termination Event with respect to which Party A is the sole
Affected Party. With respect to Party B: None.
(e) Substitution.
(i) "Substitution Date" has the meaning specified in Paragraph 4(d)(ii).
(ii) Consent. The Pledgor must obtain the Secured Party's prior consent
to any substitution pursuant to Paragraph 4(d) and shall give to the
Secured Party not less than two (2) Local Business Days' notice
thereof specifying the items of Posted Credit Support intended for
substitution.
(f) Dispute Resolution.
(i) "Resolution Time" means 1:00 p.m. New York time on the Local
Business Day following the date on which the notice of the dispute
is given under Paragraph 5.
(ii) Value. Notwithstanding anything to the contrary in Paragraph 12, for
the purpose of Paragraphs 5(i)(C) and 5(ii), the S&P Value and
Xxxxx'x Value, on any date, of Eligible Collateral other than Cash
will be calculated as follows:
For Eligible Collateral in the form of securities listed in
Paragraph 13(b)(ii): the sum of (A) the product of (1)(x) the bid
price at the Valuation Time for such securities on the principal
national securities exchange on which such securities are listed, or
(y) if such securities are not listed on a national securities
exchange, the bid price for such securities quoted at the Valuation
Time by any principal market maker for such securities selected by
the Valuation Agent, or (z) if no such bid price is listed or quoted
for such date, the bid price listed or quoted (as the case may be)
at the Valuation Time for the day next preceding such date on which
such prices were available and (2) the applicable Valuation
Percentage for such Eligible Collateral, and (B) the accrued
interest on such securities (except to the extent Transferred to the
Pledgor pursuant to Paragraph 6(d)(ii) or included in the applicable
price referred to in the immediately preceding clause (A)) as of
such date.
(iii) Alternative. The provisions of Paragraph 5 will apply.
(g) Holding and Using Posted Collateral.
(i) Eligibility to Hold Posted Collateral; Custodians. Party B (or any
Custodian) will be entitled to hold Posted Collateral pursuant to
Paragraph 6(b).
Party B may appoint as Custodian (A) the entity then serving as
Supplemental Interest Trustee or (B) any entity other than the
entity then serving as Supplemental Interest Trustee if such other
entity (or, to the extent applicable, its parent company or credit
support provider) shall then have a short-term unsecured and
unsubordinated debt rating from S&P of at least "A-1."
Initially, the Custodian for Party B is: The Supplemental Interest
Trust Trustee.
(ii) Use of Posted Collateral. The provisions of Paragraph 6(c) will not
apply to Party B.
(h) Distributions and Interest Amount.
(i) Interest Rate. The "Interest Rate" will be the actual interest rate
earned on Posted Collateral in the form of Cash that is held by
Party B or its Custodian. Posted Collateral in the form of Cash
shall be invested in such overnight (or redeemable within two Local
Business Days of demand) Permitted Investments rated at least AAAm
or AAAm-G by S&P and Prime-1 by Xxxxx'x or Aaa
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
by Xxxxx'x as directed by Party A (unless (x) an Event of Default or
an Additional Termination Event has occurred with respect to which
Party A is the defaulting or sole Affected Party or (y) an Early
Termination Date has been designated, in which case such investment
shall be held uninvested). Gains and losses incurred in respect of
any investment of Posted Collateral in the form of Cash in Permitted
Investments as directed by Party A shall be for the account of Party
A.
(ii) Transfer of Interest Amount. The Transfer of the Interest Amount
will be made on the second Local Business Day following the end of
each calendar month and on any other Local Business Day on which
Posted Collateral in the form of Cash is Transferred to the Pledgor
pursuant to Paragraph 3(b); provided, however, that the obligation
of Party B to Transfer any Interest Amount to Party A shall be
limited to the extent that Party B has earned and received such
funds and such funds are available to Party B.
(iii) Alternative to Interest Amount. The provisions of Paragraph 6(d)(ii)
will apply.
(i) Additional Representation(s). There are no additional representations by
either party.
(j) Other Eligible Support and Other Posted Support.
(i) "Value" with respect to Other Eligible Support and Other Posted
Support means: not applicable.
(ii) "Transfer" with respect to Other Eligible Support and Other Posted
Support means: not applicable.
(k) Demands and Notices.All demands, specifications and notices under this
Annex will be made pursuant to the Notices Section of this Agreement,
except that any demand, specification or notice shall be given to or made
at the following addresses, or at such other address as the relevant
party may from time to time designate by giving notice (in accordance
with the terms of this paragraph) to the other party:
If to Party A:
Address: One Xxxxx Xxxxxx
Xxxxxx X00 0XX
Xxxxxxx
Telephone: 00 00 0000 0000
Facsimile: 44 20 7883 7987
Attention: Collateral Management Unit
If to Party B, as set forth in Part 4(a) of the Schedule.
(l) Address for Transfers. Each Transfer hereunder shall be made to the
address specified below or to an address specified in writing from time
to time by the party to which such Transfer will be made.
Party A: To be notified to Party B by Party A at the time of the request
for the Transfer.
Party B: To be notified to Party A by Party B at the time of the request
for the Transfer.
(m) Other Provisions.
(i) Collateral Account. Party B shall open and maintain a segregated
account, which shall be an Eligible Account, and hold, record and
identify all Posted Collateral in such segregated account.
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
(ii) Agreement as to Single Secured Party and Single Pledgor. Party A and
Party B hereby agree that, notwithstanding anything to the contrary
in this Annex, (a) the term "Secured Party" as used in this Annex
means only Party B, (b) the term "Pledgor" as used in this Annex
means only Party A, (c) only Party A makes the pledge and grant in
Paragraph 2, the acknowledgement in the final sentence of Paragraph
8(a) and the representations in Paragraph 9.
(iii) Calculation of Value. Paragraph 4(c) is hereby amended by deleting
the word "Value" and inserting in lieu thereof "S&P Value, Xxxxx'x
Value". Paragraph 4(d)(ii) is hereby amended by (A) deleting the
words "a Value" and inserting in lieu thereof "an S&P Value and
Xxxxx'x Value" and (B) deleting the words "the Value" and inserting
in lieu thereof "S&P Value and Xxxxx'x Value". Paragraph 5 (flush
language) is hereby amended by deleting the word "Value" and
inserting in lieu thereof "S&P Value or Xxxxx'x Value". Paragraph
5(i) (flush language) is hereby amended by deleting the word "Value"
and inserting in lieu thereof "S&P Value and Xxxxx'x Value,".
Paragraph 5(i)(C) is hereby amended by deleting the word "the Value,
if" and inserting in lieu thereof "any one or more of the S&P Value
or Xxxxx'x Value, as may be". Paragraph 5(ii) is hereby amended by
(1) deleting the first instance of the words "the Value" and
inserting in lieu thereof "any one or more of the S&P Value or
Xxxxx'x Value" and (2) deleting the second instance of the words
"the Value" and inserting in lieu thereof "such disputed S&P Value
or Xxxxx'x Value". Each of Paragraph 8(b)(iv)(B) and Paragraph 11(a)
is hereby amended by deleting the word "Value" and inserting in lieu
thereof "least of the S&P Value and Xxxxx'x Value".
(iv) Form of Annex. Party A and Party B hereby agree that the text of
Paragraphs 1 through 12, inclusive, of this Annex is intended to be
the printed form of ISDA Credit Support Annex (Bilateral Form - ISDA
Agreements Subject to New York Law Only version) as published and
copyrighted in 1994 by the International Swaps and Derivatives
Association, Inc.
(v) Events of Default. Paragraph 7 will not apply to cause any Event of
Default to exist with respect to Party B except that Paragraph 7(i)
will apply to Party B solely in respect of Party B's obligations
under Paragraph 3(b) of the Credit Support Annex. Notwithstanding
anything to the contrary in Paragraph 7, any failure by Party A to
comply with or perform any obligation to be complied with or
performed by Party A under the Credit Support Annex shall only be an
Event of Default if (A) a Ratings Downgrade Event has occurred and
been continuing for 30 or more Local Business Days, and (B) such
failure is not remedied on or before the third Local Business Day
after notice of such failure is given to Party A.
(vi) Expenses. Notwithstanding anything to the contrary in Paragraph 10,
the Pledgor will be responsible for, and will reimburse the Secured
Party for, all transfer and other taxes and other costs involved in
any Transfer of Eligible Collateral.
(vii) Withholding. Paragraph 6(d)(ii) is hereby amended by inserting
immediately after "the Interest Amount" in the fourth line thereof
the words "less any applicable withholding taxes."
(viii) Additional Definitions. As used in this Annex:
"Collateral Event" means that no Relevant Entity has credit ratings
at least equal to the Ratings Threshold.
"Exposure" has the meaning specified in Paragraph 12, except that
after the word "Agreement" the words "(assuming, for this purpose
only, that Part 1(f) of the Schedule is deleted)" shall be inserted.
"Local Business Day" means, for purposes of this Annex: any day on
which (A) commercial banks are open for business (including dealings
in foreign exchange and foreign currency deposits) in
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
New York and the location of Party A, Party B and any Custodian, and
(B) in relation to a Transfer of Eligible Collateral, any day on
which the clearance system agreed between the parties for the
delivery of Eligible Collateral is open for acceptance and execution
of settlement instructions (or in the case of a Transfer of Cash or
other Eligible Collateral for which delivery is contemplated by
other means a day on which commercial banks are open for business
(including dealings in foreign exchange and foreign deposits) in New
York and the location of Party A, Party B and any Custodian.
"Xxxxx'x Trigger Event" means that no Relevant Entity has credit
ratings from Xxxxx'x at least equal to the Xxxxx'x Ratings
Threshold.
"Xxxxx'x Credit Support Amount" means, for any Valuation Date, the
excess, if any, of
(I) (A) for any Valuation Date on which (I) a Xxxxx'x Ratings Event
has occurred and has been continuing (x) for at least 30 days
or (y) since this Annex was executed or (II) no Relevant Entity
has credit ratings which meet the Xxxxx'x Second Trigger
Ratings Threshold, an amount equal to the greater of (a) zero
and (b) the sum of (i) the Secured Party's Exposure for such
Valuation Date and (ii) the product of the applicable Xxxxx'x
Factor set forth in Table 1, hereto and the Notional Amount for
the Transaction for the Calculation Period for the Transaction
(each as defined in the related Confirmation) which includes
such Valuation Date; or
(B) for any other Valuation Date, zero, over
(II) the Threshold for Party A such Valuation Date.
"Xxxxx'x Value" means, on any date and with respect to any Eligible
Collateral other than Cash, the bid price obtained by the Valuation
Agent multiplied by the Xxxxx'x Valuation Percentage for such
Eligible Collateral set forth in Paragraph 13(b)(ii).
"Pricing Sources" means the sources of financial information
commonly known as Bloomberg, Bridge Information Services, Data
Resources Inc., Interactive Data Services, International Securities
Market Association, Xxxxxxx Xxxxx Securities Pricing Service, Xxxxxx
Data Corporation, Reuters, Wood Gundy, Trepp Pricing, XX Xxxxx, S&P
and Telerate.
"Remaining Weighted Average Maturity" means, with respect to a
Transaction, the expected weighted average maturity for such
Transaction as determined by the Valuation Agent.
"S&P Ratings Downgrade Event" means that no Relevant Entity has
credit ratings at least equal to the S&P Ratings Threshold.
"S&P Credit Support Amount" means, for any Valuation Date, the
excess, if any, of
(I) (A) for any Valuation Date on which (i) an S&P Ratings
Downgrade Event has occurred and been continuing for at
least 30 days, or (ii) no Relevant Entity has credit
ratings which meet the S&P Required Ratings Threshold, an
amount equal to the sum of (1) 100.0% of the Secured
Party's Exposure for such Valuation Date and (2) the sum,
for each Transaction to which this Annex relates, of the
product of the Volatility Buffer for such Transaction and
the Notional Amount of such Transaction for the
Calculation Period of such Transaction (each as defined in
the related Confirmation) which includes such Valuation
Date, or
(B) for any other Valuation Date, zero, over
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
(II) the Threshold for Party A for such Valuation Date.
"S&P Value" means, on any date and with respect to any Eligible
Collateral other than Cash, the product of (A) the bid price
obtained by the Valuation Agent for such Eligible Collateral and (B)
the S&P Valuation Percentage for such Eligible Collateral set forth
in paragraph 13(b)(ii).
"Valuation Percentage" shall mean, for purposes of determining the
S&P Value, Xxxxx'x First Trigger Value, or Xxxxx'x Second Trigger
Value with respect to any Eligible Collateral or Posted Collateral,
the applicable S&P Valuation Percentage, Xxxxx'x First Trigger
Valuation Percentage, or Xxxxx'x Second Trigger Valuation Percentage
for such Eligible Collateral or Posted Collateral, respectively, in
each case as set forth in Paragraph 13(b)(ii).
"Value" shall mean, in respect of any date, the related S&P Value
and the related Xxxxx'x Value.
"Volatility Buffer" means, for any Transaction, the related
percentage set forth in the following table.
------------------------------ -------------- --------------- --------------- ----------------
The higher of the S&P Remaining Remaining Remaining Remaining
credit rating of (i) Party A Weighted Weighted Weighted Weighted
and (ii) the Credit Support Average Average Average Average
Provider of Party A, if Maturity of Maturity of Maturity of Maturity of
applicable such such such such
Transaction Transaction Transaction Transaction
up to 3 years up to 5 years up to 10 years up to 30 years
------------------------------ -------------- --------------- --------------- ----------------
"A-2" or higher 2.75% 3.25% 4.00% 4.75%
------------------------------ -------------- --------------- --------------- ----------------
"A-3" 3.25% 4.00% 5.00% 6.25%
------------------------------ -------------- --------------- --------------- ----------------
"BB+" or lower 3.50% 4.50% 6.75% 7.50%
------------------------------ -------------- --------------- --------------- ----------------
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Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
Table 1
Xxxxx'x Factor
--------------
------------------------------------------ ----------------------------------
Remaining Daily
Weighted Average Life Collateral
of Hedge in Years Posting
------------------------------------------ ----------------------------------
1 or less 0.15%
------------------------------------------ ----------------------------------
More than 1 but not more than 2 0.30%
------------------------------------------ ----------------------------------
More than 2 but not more than 3 0.40%
------------------------------------------ ----------------------------------
More than 3 but not more than 4 0.60%
------------------------------------------ ----------------------------------
More than 4 but not more than 5 0.70%
------------------------------------------ ----------------------------------
More than 5 but not more than 6 0.80%
------------------------------------------ ----------------------------------
More than 6 but not more than 7 1.00%
------------------------------------------ ----------------------------------
More than 7 but not more than 8 1.10%
------------------------------------------ ----------------------------------
More than 8 but not more than 9 1.20%
------------------------------------------ ----------------------------------
More than 9 but not more than 10 1.30%
------------------------------------------ ----------------------------------
More than 10 but not more than 11 1.40%
------------------------------------------ ----------------------------------
More than 11 but not more than 12 1.50%
------------------------------------------ ----------------------------------
More than 12 but not more than 13 1.60%
------------------------------------------ ----------------------------------
More than 13 but not more than 14 1.70%
------------------------------------------ ----------------------------------
More than 14 but not more than 15 1.80%
------------------------------------------ ----------------------------------
More than 15 but not more than 16 1.90%
------------------------------------------ ----------------------------------
More than 16 but not more than 17 2.00%
------------------------------------------ ----------------------------------
More than 17 but not more than 18 2.00%
------------------------------------------ ----------------------------------
More than 18 but not more than 19 2.00%
------------------------------------------ ----------------------------------
More than 19 but not more than 20 2.00%
------------------------------------------ ----------------------------------
More than 20 but not more than 21 2.00%
------------------------------------------ ----------------------------------
More than 21 but not more than 22 2.00%
------------------------------------------ ----------------------------------
More than 22 but not more than 23 2.00%
------------------------------------------ ----------------------------------
More than 23 but not more than 24 2.00%
------------------------------------------ ----------------------------------
More than 24 but not more than 25 2.00%
------------------------------------------ ----------------------------------
More than 25 but not more than 26 2.00%
------------------------------------------ ----------------------------------
More than 26 but not more than 27 2.00%
------------------------------------------ ----------------------------------
More than 27 but not more than 28 2.00%
------------------------------------------ ----------------------------------
More than 28 but not more than 29 2.00%
------------------------------------------ ----------------------------------
More than 29 2.00%
------------------------------------------ ----------------------------------
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
IN WITNESS WHEREOF, the parties have executed this Annex by their duly
authorized representatives as of the date of the Agreement.
The Supplemental Interest Trust created under the Pooling
Credit Suisse International and Servicing Agreement for IndyMac INDX Mortgage Loan
Trust 2006-AR41, Mortgage Pass-Through Certificates,
Series 2006-AR41 by Deutsche Bank National Trust
Company, not individually, but solely as
supplemental interest trustee
By: /s/ Xxxxxx Xxxxxxxxx By: /s/ Xxxxxxxx Xxxxxxxxxxx
-------------------- ------------------------
Name Xxxxxx Xxxxxxxxx Name: Xxxxxxxx Xxxxxxxxxxx
Title: Authorized Signatory Title: Associate
By: /s/ Bik Xxxx Xxxxx
------------------
Name Bik Xxxx Xxxxx
Title: Authorized Signatory
Indy Mac INDX Mortgage Loan Trust 2006-AR41 CSA
