Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-1, Asset-Backed Certs., Series 2005-1)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Sec Corp Asset Backed Certs Ser 2004-1)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Sec Corp Asset Backed Certs Ser 2004-1)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-1, Asset-Backed Certs., Series 2005-1)

Agency Role of Greenwich Capital Markets, Inc. In connection with this Agreement, Greenwich Capital Markets, Inc. has acted as agent on behalf of Party A. Greenwich Capital Markets, Inc. has not guaranteed and is not otherwise responsible for the obligations of Party A under this Agreement. Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Confirmation and returning it to us by facsimile transmission at (000) 000-0000 (Confirmations). If you have any questions regarding payments or resets, please contact our Customer Service/Confirmations Group at (000) 000-0000. We are happy to have completed this transaction with you. Yours sincerely, GREENWICH CAPITAL DERIVATIVES, INC. By: Greenwich Capital Markets, Inc., its agent By: ________________________ Name: Title: Accepted and confirmed as of the date first above written: Long Beach Mortgage Company By: ________________________ Name: Xxxxx ~~Patel~~ Xxxxx Title: Vice President For use with Reference Number ~~IRG6652101.2A.2B~~ IRG6652106.2A.2B (all dates subject to adjustment in accordance with the Following Business Day Convention). 1 01/06/05 02/25/05 ~~1,912,475,000 4.00614~~ 894,526,000 3.80463 2 02/25/05 03/25/05 ~~1,852,904,293 7.15423~~ 865,904,597 6.79389 3 03/25/05 04/25/05 ~~1,794,545,479 6.46221~~ 837,949,542 6.13634 4 04/25/05 05/25/05 ~~1,737,363,237 6.67792~~ 810,642,583 6.34260 5 05/25/05 06/25/05 ~~1,681,324,480 6.46783~~ 783,966,512 6.14250 6 06/25/05 07/25/05 ~~1,626,400,114 6.68365~~ 757,905,108 6.34802 7 07/25/05 08/25/05 ~~1,572,560,073 6.46822~~ 732,441,875 6.14317 8 08/25/05 09/25/05 ~~1,519,778,289 6.46835~~ 707,561,579 6.14309 9 09/25/05 10/25/05 ~~1,468,030,927 6.68405~~ 683,249,919 6.34778 10 10/25/05 11/25/05 ~~1,417,306,194 6.46847~~ 659,499,782 6.14467 11 11/25/05 12/25/05 ~~1,367,893,293 6.68934~~ 636,368,665 6.35413 12 12/25/05 01/25/06 ~~1,319,767,865 6.47359~~ 613,842,495 6.14990 13 01/25/06 02/25/06 ~~1,272,895,279 6.47363~~ 591,905,709 6.14982 14 02/25/06 03/25/06 ~~1,227,243,014 7.16727~~ 570,542,820 6.80864 15 03/25/06 04/25/06 ~~1,182,779,394 6.47370~~ 549,738,861 6.14967 16 04/25/06 05/25/06 ~~1,139,473,560 6.68953~~ 529,479,257 6.35636 17 05/25/06 ~~06/02/06 1,097,295,457 6.47881~~ 06/25/06 509,749,963 6.15579 18 06/25/06 07/25/06 ~~1,056,216,677 6.69481~~ 490,537,397 6.36175 19 07/25/06 08/25/06 ~~1,016,207,787 6.47888~~ 471,827,749 6.15645 20 08/25/06 09/25/06 ~~977,241,007 6.47892~~ 453,607,813 6.15637 21 09/25/06 10/25/06 ~~939,289,279 6.69492~~ 435,864,814 6.36150 22 10/25/06 11/25/06 ~~902,326,245 6.53140~~ 418,586,309 6.22162 23 11/25/06 12/25/06 ~~866,311,285 7.57148~~ 401,750,402 7.28836 24 12/25/06 01/25/07 ~~831,205,397 7.32701~~ 385,273,271 7.05387 25 01/25/07 02/25/07 ~~797,014,556 7.32677~~ 369,229,189 7.05369 26 02/25/07 03/25/07 ~~763,715,004 8.11152~~ 353,606,767 7.80923 27 03/25/07 04/25/07 ~~731,283,597 7.32629~~ 338,394,977 7.05331 28 04/25/07 05/25/07 ~~699,697,789 7.62357~~ 323,583,080 7.35572 29 05/25/07 06/25/07 ~~668,944,423 8.16585~~ 309,165,743 7.94134 30 06/25/07 07/25/07 ~~639,117,035 8.43745~~ 295,190,850 8.20650 31 07/25/07 ~~08/24/07 610,064,540 8.16470~~ 08/25/07 281,581,946 7.94232 32 08/25/07 09/25/07 ~~581,766,880 8.16411~~ 268,329,498 7.94194 33 09/25/07 10/25/07 ~~554,204,513 8.43565~~ 255,424,157 8.21663 34 10/25/07 11/25/07 ~~527,358,403 8.23695~~ 242,857,655 8.04266 35 11/25/07 12/25/07 ~~501,219,811 9.36553~~ 230,623,300 9.16908 36 12/25/07 01/25/08 ~~475,851,510 9.06290~~ 218,756,183 8.87355 37 01/25/08 02/25/08 ~~451,140,294 9.06197~~ 207,198,936 8.87329 38 02/25/08 03/25/08 ~~451,140,294 9.68593~~ 207,198,936 9.48463 39 03/25/08 04/25/08 ~~451,140,294 9.06009~~ 207,198,936 8.87592 40 04/25/08 05/25/08 ~~451,140,294 9.42202~~ 207,198,936 9.24576 41 05/25/08 06/25/08 ~~451,140,294 9.91047~~ 207,198,936 9.76631 42 06/25/08 07/25/08 0 0.00000 43 07/25/08 08/25/08 ~~451,140,294 9.90808~~ 207,198,936 9.76512 44 08/25/08 09/25/08 ~~451,140,294 9.90681~~ 207,198,936 9.76438 45 09/25/08 10/25/08 0 0.00000 46 10/25/08 11/25/08 ~~439,806,042 9.96306~~ 203,478,254 9.83871 23 December 2004 To: Long Beach Mortgage Company c/o Deutsche Bank National Trust Company, as trustee Attn: Trust Administration – LB 0501 Fax: +0 (000) 000-~~0000~~0000 Our Reference: IRG6652111.2A – Mezzanine Certificates and Class B Certificates The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between Long Beach Mortgage Company, a corporation organized under the laws of the State of Delaware, and Greenwich Capital Derivatives, Inc. (“GCD”) (each a "party" and together "the parties") on the Trade Date specified below (the "Transaction"). The definitions and provisions contained in the 2000 ISDA Definitions (as published by the International Swaps and Derivatives Association, Inc. (“ISDA”)) (the “Definitions”) are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern. 1. This Confirmation evidences a complete and binding agreement between you and us as to the terms and conditions of the Transaction to which this Confirmation relates and will constitute a Confirmation subject to the terms and conditions of the 1992 Master Agreement (Multicurrency - Cross Border) in the form published by ISDA, which is incorporated by reference hereby, except as expressly modified herein (the “ISDA Form”) but without any Schedule except for the election of (i) the laws of the State of New York (without reference to choice of law doctrine other than New York General Obligations Law Section 5-1401) as the governing law, (ii) USD as the Termination Currency; (iii) that Party A and Party B will make the representations in Section (a) “Payer Representations” of Part 2 “Tax Representations” of the Schedule to the ISDA Form; and (iv) that the Royal Bank of Scotland plc shall be a Credit Support Provider of Party A, and its Deed Poll Guaranty shall be a Credit Support Document. Each party will make each payment specified in this Confirmation as being payable by it, not later than the due date for value on that date in the place of the account specified below, in freely transferable funds and in the manner customary for payments in the required currency. If on any date amounts would otherwise be payable in the same currency by each party to the other, then, on such date, each party's obligation to make payment of any such amount will be automatically satisfied and discharged and, if the aggregate amount that would otherwise have been payable by one party exceeds the aggregate amount that would otherwise have been payable by the other party, replaced by an obligation upon the party by whom the larger aggregate amount would have been payable to pay to the other party the excess of the larger aggregate amount over the smaller aggregate amount. This Confirmation will be governed by and construed in accordance with the laws of the State of New York, without reference to choice of law doctrine other than New York General Obligations Law Section 5-1401. Each party irrevocably agrees that the courts of the State of New York located in the Borough of Manhattan and the United States District Court for the Southern District of New York shall have jurisdiction to hear and determine any suit, action or proceeding, and to settle any disputes, which may arise out of or in connection with this Confirmation and for such purposes hereby irrevocably submits to the jurisdiction of such courts. Each party waives any objection which it may have now or in the future to the laying of venue of any suit, action or proceeding in the above courts and agrees not to claim that either court is an inconvenient forum. Additionally to the fullest extent permitted by applicable law, each party waives its respective right to jury trial with respect to any suit, action or proceeding arising under, or in connection with, this Confirmation. In this Confirmation "Party A" means GCD and "Party B" means Long Beach Mortgage Company. 2. The particular Transaction to which this Confirmation relates is a Rate Cap, the terms of which are as follows: Notional Amount: With respect to any Calculation Period, the lesser of: (v) As detailed in Schedule A attached hereto for each Calculation Period, and (vi) The aggregate outstanding Certificate Principal Balance of the Mezzanine Certificates and the Class B Certificates (other than the Class B-2 Certificates, if the Holder (as defined in the Pooling Agreement as defined in Section 9 hereof) of such Class B-2 Certificates on the last day of the related Calculation Period is the Depositor (as defined in Section 9 hereof) or any of its affiliates) immediately prior to the last day of such Calculation Period. Any payment by Party A to Party B in excess of the amount due under this Transaction on any Floating Rate Payer Payment Date (as a result of the Notional Amount for the related Calculation Period being other than the amount set forth in Schedule A hereto for such Calculation Period) shall be returned by Party B to Party A as soon as a Responsible Officer (as defined in the Pooling Agreement) of Party B obtains actual knowledge of such overpayment; provided that Party B shall not be obligated to return any such amount to Party A if such amount has been paid to the Depositary Trust Company prior to a Responsible Officer of Party B obtaining actual knowledge of such overpayment. Other than the return of such overpayment, neither Party A nor Party B shall incur any penalty or liability hereunder with respect to such overpayment. Cap Rate: As detailed in Schedule A attached hereto for each Calculation Period. Trade Date: 22 December 2004 Effective Date: 6 January 2005 Termination Date: 25 November 2008, subject to adjustment in accordance with the Following Business Day Convention.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-1, Asset-Backed Certs., Series 2005-1)

Common use of Agency Role of Greenwich Capital Markets, Inc Clause in Contracts