Common use of Funding 2 Ledgers Clause in Contracts

Funding 2 Ledgers. (a) The Cash Manager shall open and maintain in the books of Funding 2 the following ledgers on behalf of Funding 2: (i) the Funding 2 Principal Ledger, which shall separately reflect all Funding 2 Principal Receipts received by Funding 2 on each Distribution Date (other than any Funding 2 Principal Receipts constituting the Cash Accumulation Requirement) and all Funding 2 Principal Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Principal Receipts credited to the Funding 2 Cash Accumulation Ledger); (ii) the Funding 2 Cash Accumulation Ledger which shall separately reflect all Funding 2 Principal Receipts received by Funding 2 on each Distribution Date in respect of the Cash Accumulation Requirement; (iii) the Funding 2 Principal Deficiency Ledger, which shall comprise five sub-ledgers to be known as the AAA Principal Deficiency Sub-Ledger, the AA Principal Deficiency Sub-Ledger, the A Principal Deficiency Sub-Ledger, the BBB Principal Deficiency Sub-Ledger and the BB Principal Deficiency Sub-Ledger, and which shall record (A) any principal deficiencies arising from Losses on the Mortgage Loans which have been allocated to Funding 2, (B) the application of Funding 2 Available Principal Receipts to meet any deficiency in Funding 2 Available Revenue Receipts, (C) the application of Funding 2 Available Principal Receipts to fund the Funding 2 Liquidity Reserve Fund and (D) the application of Funding 2 Available Revenue Receipts to be applied to reduce the balances on the Funding 2 Principal Deficiency Ledger; (iv) the Funding 2 Revenue Ledger, which shall separately reflect all Funding 2 Revenue Receipts received by Funding 2 on each Distribution Date, and all Funding 2 Revenue Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Swap Collateral Account); (v) the Funding 2 Reserve Ledger, which shall record the amount credited to the Funding 2 Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Reserve Fund; (vi) the Funding 2 Liquidity Reserve Ledger, which shall record the amount credited to the Funding 2 Liquidity Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Liquidity Reserve Fund provided that the Funding 2 Liquidity Reserve Ledger shall only be established in the event that Funding 2 is required to do so pursuant to the terms of the Funding 2 Deed of Charge; (vii) the Funding 2 Liquidity Facility Ledger which shall record all drawings and repayments in respect of any Funding 2 Liquidity Facility provided that the Funding 2 Liquidity Facility Ledger shall only be established in the event that Funding 2 enters into a Funding 2 Liquidity Agreement; (viii) the Funding 2 Swap Collateral Ledger to record all payments, deliveries, transfers and receipts in connection with Swap Collateral, including, without limitation: (A) the delivery of any Swap Collateral to Funding 2 by the Funding 2 Basis Rate Swap Provider; (B) the receipt of any income or distributions in respect of such Swap Collateral and the payment of such income or distributions to the Funding 2 Basis Rate Swap Provider; (C) the return of all, or any part of, such Swap Collateral to the Funding 2 Basis Rate Swap Provider; and (D) the payment or transfer of all, or any part of, such Swap Collateral to the Funding 2 Transaction Account or the Funding 2 Swap Account, provided that the Funding 2 Swap Collateral Ledger shall only be established in the event that the Funding 2 Basis Rate Swap Provider pays or transfers Swap Collateral to Funding 2 in accordance with the Funding 2 Basis Rate Swap Agreement; and (ix) the Funding 2 Intercompany Loan Ledger, which shall be divided into segregated sub-ledgers each of which shall record payments made under each Loan Tranche (each of which shall be divided into sub- ledgers to record payments of interest and fees and repayments of principal made under the applicable Loan Tranche). (b) The Cash Manager shall make credits and debits to the Funding 2 Ledgers in accordance with the provisions of paragraphs 22 through 30 of Schedule 2 hereto.

Funding 2 Ledgers. (a) The Cash Manager shall open and maintain in the books of Funding 2 certain ledgers to be known as the following ledgers on behalf of Funding 2: (i) 2 Revenue Ledger, the Funding 2 Principal Ledger, which shall separately reflect all the Funding 2 Principal Receipts received by Funding 2 on each Distribution Date (other than any Funding 2 Principal Receipts constituting the Cash Accumulation Requirement) and all Funding 2 Principal Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Principal Receipts credited to General Reserve Ledger, the Funding 2 Cash Accumulation Ledger); (ii) , the Start-Up Loan Revenue Contribution Ledger and, if the Funding 2 Cash Accumulation Liquidity Reserve Fund is established, the Funding 2 Liquidity Reserve Ledger which shall separately reflect all shall, together with the amounts standing to the credit of the Funding 2 Principal Receipts received by Yield Reserve Ledger, reflect the aggregate of all amounts of cash standing to the credit of the Funding 2 on each Distribution Date GIC Accounts and all amounts invested in respect Authorised Investments purchased from amounts standing to the credit of the Cash Accumulation Requirement;Funding 2 GIC Accounts from time to time. (iiib) The Cash Manager shall also open and maintain in the books of Funding 2 certain ledgers to be known as (i) the Funding 2 Principal Deficiency Ledger, which shall comprise five comprises the following sub-ledgers to be known as the AAA Principal Deficiency Sub-Ledger, the AA Principal Deficiency Sub-Ledger, the A Principal Deficiency Sub-Ledger, the BBB Principal Deficiency Sub-Ledger and Ledger, the BB Principal Deficiency Sub-Ledger, and which shall record (A) any principal deficiencies arising from Losses on the Mortgage Loans which have been allocated to Funding 2, (B) the application of Funding 2 Available Principal Receipts to meet any deficiency in Funding 2 Available Revenue Receipts, (C) the application of Funding 2 Available Principal Receipts to fund the Funding 2 Liquidity Reserve Fund Subordinated Loan Tranche Principal Deficiency Sub-Ledger and (D) the application of Funding 2 Available Revenue Receipts to be applied to reduce the balances on the Funding 2 Z Loan Principal Deficiency Ledger; Sub-Ledger and (iv) the Funding 2 Revenue Ledger, which shall separately reflect all Funding 2 Revenue Receipts received by Funding 2 on each Distribution Date, and all Funding 2 Revenue Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Swap Collateral Account); (v) the Funding 2 Reserve Ledger, which shall record the amount credited to the Funding 2 Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Reserve Fund; (vi) the Funding 2 Liquidity Reserve Ledger, which shall record the amount credited to the Funding 2 Liquidity Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Liquidity Reserve Fund provided that the Funding 2 Liquidity Reserve Ledger shall only be established in the event that Funding 2 is required to do so pursuant to the terms of the Funding 2 Deed of Charge; (vii) the Funding 2 Liquidity Facility Ledger which shall record all drawings and repayments in respect of any Funding 2 Liquidity Facility provided that the Funding 2 Liquidity Facility Ledger shall only be established in the event that Funding 2 enters into a Funding 2 Liquidity Agreement; (viii) the Funding 2 Swap Collateral Ledger to record all payments, deliveries, transfers and receipts in connection with Swap Collateral, including, without limitation: (A) the delivery of any Swap Collateral to Funding 2 by the Funding 2 Basis Rate Swap Provider; (B) the receipt of any income or distributions in respect of such Swap Collateral and the payment of such income or distributions to the Funding 2 Basis Rate Swap Provider; (C) the return of all, or any part of, such Swap Collateral to the Funding 2 Basis Rate Swap Provider; and (D) the payment or transfer of all, or any part of, such Swap Collateral to the Funding 2 Transaction Account or the Funding 2 Swap Account, provided that the Funding 2 Swap Collateral Ledger shall only be established in the event that the Funding 2 Basis Rate Swap Provider pays or transfers Swap Collateral to Funding 2 in accordance with the Funding 2 Basis Rate Swap Agreement; and (ixii) the Funding 2 Intercompany Loan Ledger, which shall to be divided into segregated sub-ledgers each of which shall record payments made under each Loan Tranche (each of which shall be divided into sub- ledgers to record payments of interest and fees and repayments of principal made under the applicable Loan Tranche). (bc) From the Restructuring Date and for so long as any Funding 2 Yield Reserve Notes are outstanding, the Cash Manager shall open and maintain in the books of Funding 2 the Funding 2 Yield Reserve Ledger. The Funding 2 Yield Reserve Ledger will be divided into: (i) a sub-ledger for all of the Funding 2 Yield Reserve AAA Loan Tranches; (ii) a sub-ledger for all of the Funding 2 Yield Reserve AA Loan Tranches; (iii) a sub-ledger for all of the Funding 2 Yield Reserve A Loan Tranches; (iv) a sub-ledger for all of the Funding 2 Yield Reserve BBB Loan Tranches; and (v) a sub-ledger for all of the Funding 2 Yield Reserve BB Loan Tranches. (d) Following the opening of any Funding 2 Swap Collateral Account, the Cash Manager shall open and maintain in the books of Funding 2 a ledger to be known as the Funding 2 Swap Collateral Ledger, to record all payments, transfers and receipts of Swap Collateral under the Funding 2 Swap Agreement, and the return of any Excess Swap Collateral under the Funding 2 Swap Agreement to the Funding 2 Swap Provider. (e) On the date on which an Agent Account Bank is appointed and accedes to the Bank Account Agreement pursuant to clause 2.6 of the Account Bank Agreement the Cash Manager shall open and maintain in the books of Funding 2 Panel Bank Ledger which shall reflect all amounts of cash deposited by the Agent Account Bank with each Panel Bank pursuant to instructions from the Cash Manager. (f) The Cash Manager shall make credits and debits to the Funding 2 Ledgers in accordance with this Agreement (including the provisions of paragraphs 22 through 30 of Schedule 2 hereto2).

Funding 2 Ledgers. (a) The Cash Manager shall open and maintain in the books of Funding 2 the following ledgers on behalf of Funding 2: (i) the Funding 2 Principal Ledger, which shall separately reflect all Funding 2 Principal Receipts received by Funding 2 on each Distribution Date (other than any Funding 2 Principal Receipts constituting the Cash Accumulation Requirement) and all Funding 2 Principal Receipts standing to the credit of each the Funding 2 Bank Account Accounts (other than any Funding 2 Principal Receipts credited to the Funding 2 Cash Accumulation Ledger); (ii) the Funding 2 Cash Accumulation Ledger which shall separately reflect all Funding 2 Principal Receipts received by standing to the credit of the Funding 2 on each Distribution Date Bank Accounts in respect of the Cash Accumulation Requirement; (iii) the Funding 2 Principal Deficiency Ledger, which shall comprise five sub-ledgers to be known as the AAA Principal Deficiency Sub-Ledger, the AA Principal Deficiency Sub-Ledger, the A Principal Deficiency Sub-Ledger, the BBB Principal Deficiency Sub-Ledger and the BB Principal Deficiency Sub-Ledger, and which shall record (A) any principal deficiencies arising from Losses on the Mortgage Loans which have been allocated to Funding 2, (B) the application of Funding 2 Available Principal Receipts to meet any deficiency in Funding 2 Available Revenue Receipts, (C) the application of Funding 2 Available Principal Receipts to fund the Funding 2 Liquidity Reserve Fund and (D) the application of Funding 2 Available Revenue Receipts to be applied to reduce the balances on the Funding 2 Principal Deficiency Ledger; (iv) the Funding 2 Revenue Ledger, which shall separately reflect all Funding 2 Revenue Receipts received by Funding 2 on each Distribution Date, and all Funding 2 Revenue Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Swap Collateral Account); (v) the Funding 2 Reserve Ledger, which shall record the amount credited to the Funding 2 Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Reserve Fund; (vi) the Funding 2 Liquidity Reserve Ledger, which shall record the amount credited to the Funding 2 Liquidity Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Liquidity Reserve Fund provided that the Funding 2 Liquidity Reserve Ledger shall only be established in the event that Funding 2 is required to do so pursuant to the terms of the Funding 2 Deed of Charge; (vii) the Funding 2 Liquidity Facility Ledger which shall record all drawings and repayments in respect of any Funding 2 Liquidity Facility provided that the Funding 2 Liquidity Facility Ledger shall only be established in the event that Funding 2 enters into a Funding 2 Liquidity Agreement; (viii) the Funding 2 Swap Collateral Ledger to record all payments, deliveries, transfers and receipts in connection with Swap Collateral, including, without limitation: (A) the delivery of any Swap Collateral to Funding 2 by the Funding 2 Basis Rate Swap Provider; (B) the receipt of any income or distributions in respect of such Swap Collateral and the payment of such income or distributions to the Funding 2 Basis Rate Swap Provider; (C) the return of all, or any part of, such Swap Collateral to the Funding 2 Basis Rate Swap Provider; and (D) the payment or transfer of all, or any part of, such Swap Collateral to the Funding 2 Transaction GIC Account or the Funding 2 Swap Account, provided that the Funding 2 Swap Collateral Ledger shall only be established in the event that the Funding 2 Basis Rate Swap Provider pays or transfers Swap Collateral to Funding 2 in accordance with the Funding 2 Basis Rate Swap Agreement; and (ix) the Funding 2 Intercompany Loan Ledger, which shall be divided into segregated sub-ledgers for each Loan Tranche, each of which shall shall: (A) record the amounts allocated to Funding 2 to be applied in making the payments made due under each the applicable Loan Tranche Tranche; (each of which shall B) be further divided into sub- separate sub-sub-ledgers to separately record (1) the Funding 2 Available Revenue Receipts allocated to make payments of interest and fees other amounts (other than principal) under the applicable Loan Tranche, and (2) the Funding 2 Available Principal Receipts allocated to make repayments of principal made under the applicable Loan Tranche). (b) The Cash Manager shall make credits and debits to the Funding 2 Ledgers in accordance with the provisions of paragraphs 22 through 30 of Schedule 2 hereto.

Funding 2 Ledgers. (a) The Cash Manager shall open and maintain in the books of Funding 2 certain ledgers to be known as the following ledgers on behalf of Funding 2: (i) 2 Revenue Ledger, the Funding 2 Principal Ledger, which shall separately reflect all Funding 2 Principal Receipts received by Funding 2 on each Distribution Date (other than any Funding 2 Principal Receipts constituting the Cash Accumulation Requirement) and all Funding 2 Principal Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Principal Receipts credited to the Funding 2 Cash Accumulation General Reserve Ledger); (ii) , the Funding 2 Cash Accumulation Ledger and, if the Funding 2 Liquidity Reserve Fund is established, the Funding 2 Liquidity Reserve Ledger which shall separately together reflect the aggregate of all amounts of cash standing to the credit of the Funding 2 Principal Receipts received by GIC Account and the Funding 2 on each Distribution Date Transaction Account and all amounts invested in respect Authorised Investments purchased from amounts standing to the credit of the Cash Accumulation Requirement;Funding 2 GIC Account and the Funding 2 Transaction Account from time to time. (iiib) The Cash Manager shall also open and maintain in the books of Funding 2 certain ledgers to be known as (i) the Funding 2 Principal Deficiency Ledger, which shall comprise comprised, on the Programme Date, five sub-ledgers to be known as the AAA Principal Deficiency Sub-Sub Ledger, the AA Principal Deficiency Sub-Sub Ledger, the A Principal Deficiency Sub-Sub Ledger, the BBB Principal Deficiency Sub-Sub Ledger and the BB Principal Deficiency Sub-Ledger, Sub Ledger and which shall record (A) any principal deficiencies arising from Losses on the Mortgage Loans which have been allocated to Funding 2, (Bii) the application of Funding 2 Available Principal Receipts to meet any deficiency in Funding 2 Available Revenue Receipts, (C) the application of Funding 2 Available Principal Receipts to fund the Funding 2 Liquidity Reserve Fund and (D) the application of Funding 2 Available Revenue Receipts to be applied to reduce the balances on the Funding 2 Principal Deficiency Ledger; (iv) the Funding 2 Revenue Ledger, which shall separately reflect all Funding 2 Revenue Receipts received by Funding 2 on each Distribution Date, and all Funding 2 Revenue Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Swap Collateral Account); (v) the Funding 2 Reserve Ledger, which shall record the amount credited to the Funding 2 Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Reserve Fund; (vi) the Funding 2 Liquidity Reserve Ledger, which shall record the amount credited to the Funding 2 Liquidity Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Liquidity Reserve Fund provided that the Funding 2 Liquidity Reserve Ledger shall only be established in the event that Funding 2 is required to do so pursuant to the terms of the Funding 2 Deed of Charge; (vii) the Funding 2 Liquidity Facility Ledger which shall record all drawings and repayments in respect of any Funding 2 Liquidity Facility provided that the Funding 2 Liquidity Facility Ledger shall only be established in the event that Funding 2 enters into a Funding 2 Liquidity Agreement; (viii) the Funding 2 Swap Collateral Ledger to record all payments, deliveries, transfers and receipts in connection with Swap Collateral, including, without limitation: (A) the delivery of any Swap Collateral to Funding 2 by the Funding 2 Basis Rate Swap Provider; (B) the receipt of any income or distributions in respect of such Swap Collateral and the payment of such income or distributions to the Funding 2 Basis Rate Swap Provider; (C) the return of all, or any part of, such Swap Collateral to the Funding 2 Basis Rate Swap Provider; and (D) the payment or transfer of all, or any part of, such Swap Collateral to the Funding 2 Transaction Account or the Funding 2 Swap Account, provided that the Funding 2 Swap Collateral Ledger shall only be established in the event that the Funding 2 Basis Rate Swap Provider pays or transfers Swap Collateral to Funding 2 in accordance with the Funding 2 Basis Rate Swap Agreement; and (ix) the Funding 2 Master Intercompany Loan Ledger, which shall to be divided into segregated sub-ledgers each of which shall record payments made under each Loan Tranche (each of which shall be divided into sub- ledgers to record payments of interest and fees and repayments of principal made under the applicable Loan Tranche). (bc) The Cash Manager shall make credits and debits to the Funding 2 Ledgers in accordance with the provisions of paragraphs 22 through 30 of Schedule 2 heretoSCHEDULE 2.

Funding 2 Ledgers. (a) The Cash Manager shall open and maintain in the books of Funding 2 the following ledgers on behalf of Funding 2: (i) the Funding 2 Principal Ledger, which shall separately reflect all Funding 2 Principal Receipts received by Funding 2 on each Distribution Date (other than any Funding 2 Principal Receipts constituting the Cash Accumulation Requirement) and all Funding 2 Principal Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Principal Receipts credited to the Funding 2 Cash Accumulation Ledger); (ii) the Funding 2 Cash Accumulation Ledger which shall separately reflect all Funding 2 Principal Receipts received by Funding 2 on each Distribution Date in respect of the Cash Accumulation Requirement; (iii) the Funding 2 Principal Deficiency Ledger, which shall comprise five sub-ledgers to be known as the AAA Principal Deficiency Sub-Ledger, the AA Principal Deficiency Sub-Ledger, the A Principal Deficiency Sub-Ledger, the BBB Principal Deficiency Sub-Ledger and the BB Principal Deficiency Sub-Ledger, and which shall record (A) any principal deficiencies arising from Losses on the Mortgage Loans which have been allocated to Funding 2, (B) the application of Funding 2 Available Principal Receipts to meet any deficiency in Funding 2 Available Revenue Receipts, (C) the application of Funding 2 Available Principal Receipts to fund the Funding 2 Liquidity Reserve Fund and (D) the application of Funding 2 Available Revenue Receipts to be applied to reduce the balances on the Funding 2 Principal Deficiency Ledger; (iv) the Funding 2 Revenue Ledger, which shall separately reflect all Funding 2 Revenue Receipts received by Funding 2 on each Distribution Date, and all Funding 2 Revenue Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Swap Collateral Account); (v) the Funding 2 Reserve Ledger, which shall record the amount credited to the Funding 2 Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Reserve Fund; (vi) the Funding 2 Liquidity Reserve Ledger, which shall record the amount credited to the Funding 2 Liquidity Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Liquidity Reserve Fund provided that the Funding 2 Liquidity Reserve Ledger shall only be established in the event that Funding 2 is required to do so pursuant to the terms of the Funding 2 Deed of Charge; (vii) the Funding 2 Liquidity Facility Ledger which shall record all drawings and repayments in respect of any Funding 2 Liquidity Facility provided that the Funding 2 Liquidity Facility Ledger shall only be established in the event that Funding 2 enters into a Funding 2 Liquidity Agreement; (viii) the Funding 2 Swap Collateral Ledger to record all payments, deliveries, transfers and receipts in connection with Swap Collateral, including, without limitation: (A) the delivery of any Swap Collateral to Funding 2 by the Funding 2 Basis Rate Swap Provider; (B) the receipt of any income or distributions in respect of such Swap Collateral and the payment of such income or distributions to the Funding 2 Basis Rate Swap Provider; (C) the return of all, or any part of, such Swap Collateral to the Funding 2 Basis Rate Swap Provider; and (D) the payment or transfer of all, or any part of, such Swap Collateral to the Funding 2 Transaction Account or the Funding 2 Swap Account, provided that the Funding 2 Swap Collateral Ledger shall only be established in the event that the Funding 2 Basis Rate Swap Provider pays or transfers Swap Collateral to Funding 2 in accordance with the Funding 2 Basis Rate Swap Agreement; and (ix) the Funding 2 Intercompany Loan Ledger, which shall be divided into segregated sub-ledgers each of which shall record payments made under each Loan Tranche (each of which shall be divided into sub- sub-ledgers to record payments of interest and fees and repayments of principal made under the applicable Loan Tranche). (b) The Cash Manager shall make credits and debits to the Funding 2 Ledgers in accordance with the provisions of paragraphs 22 through 30 of Schedule 2 hereto.

Funding 2 Ledgers. (a) The Cash Manager shall open and maintain in the books of Funding 2 certain ledgers to be known as the following ledgers on behalf of Funding 2: (i) 2 Revenue Ledger, the Funding 2 Principal Ledger, which shall separately reflect all the Funding 2 Principal Receipts received by Funding 2 on each Distribution Date (other than any Funding 2 Principal Receipts constituting the Cash Accumulation Requirement) and all Funding 2 Principal Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Principal Receipts credited to General Reserve Ledger, the Funding 2 Cash Accumulation Ledger); (ii) [, the Start-Up Loan Revenue Contribution Ledger] and, if the Funding 2 Cash Accumulation Liquidity Reserve Fund is established, the Funding 2 Liquidity Reserve Ledger which shall separately together reflect the aggregate of all amounts of cash standing to the credit of the Funding 2 Principal Receipts received by GIC Account and the Funding 2 on each Distribution Date Transaction Account and all amounts invested in respect Authorised Investments purchased from amounts standing to the credit of the Cash Accumulation Requirement;Funding 2 GIC Account and the Funding 2 Transaction Account from time to time. (iiib) The Cash Manager shall also open and maintain in the books of Funding 2 certain ledgers to be known as (i) the Funding 2 Principal Deficiency Ledger, which shall comprise five comprised, on the Programme Date, six sub-ledgers to be known as the AAA Principal Deficiency Sub-Sub Ledger, the AA Principal Deficiency Sub-Sub Ledger, the A Principal Deficiency Sub-Sub Ledger, the BBB Principal Deficiency Sub-Ledger and Sub Ledger, the BB Principal Deficiency Sub-Ledger, Sub Ledger and which shall record (A) any principal deficiencies arising from Losses on the Mortgage Loans which have been allocated to Funding 2, (B) the application of Funding 2 Available Principal Receipts to meet any deficiency in Funding 2 Available Revenue Receipts, (C) the application of Funding 2 Available Principal Receipts to fund the Funding 2 Liquidity Reserve Fund Subordinated Loan Tranche Principal Deficiency Sub Ledger and (Dii) the application of Funding 2 Available Revenue Receipts to be applied to reduce the balances on the Funding 2 Principal Deficiency Ledger; (iv) the Funding 2 Revenue Ledger, which shall separately reflect all Funding 2 Revenue Receipts received by Funding 2 on each Distribution Date, and all Funding 2 Revenue Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Swap Collateral Account); (v) the Funding 2 Reserve Ledger, which shall record the amount credited to the Funding 2 Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Reserve Fund; (vi) the Funding 2 Liquidity Reserve Ledger, which shall record the amount credited to the Funding 2 Liquidity Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Liquidity Reserve Fund provided that the Funding 2 Liquidity Reserve Ledger shall only be established in the event that Funding 2 is required to do so pursuant to the terms of the Funding 2 Deed of Charge; (vii) the Funding 2 Liquidity Facility Ledger which shall record all drawings and repayments in respect of any Funding 2 Liquidity Facility provided that the Funding 2 Liquidity Facility Ledger shall only be established in the event that Funding 2 enters into a Funding 2 Liquidity Agreement; (viii) the Funding 2 Swap Collateral Ledger to record all payments, deliveries, transfers and receipts in connection with Swap Collateral, including, without limitation: (A) the delivery of any Swap Collateral to Funding 2 by the Funding 2 Basis Rate Swap Provider; (B) the receipt of any income or distributions in respect of such Swap Collateral and the payment of such income or distributions to the Funding 2 Basis Rate Swap Provider; (C) the return of all, or any part of, such Swap Collateral to the Funding 2 Basis Rate Swap Provider; and (D) the payment or transfer of all, or any part of, such Swap Collateral to the Funding 2 Transaction Account or the Funding 2 Swap Account, provided that the Funding 2 Swap Collateral Ledger shall only be established in the event that the Funding 2 Basis Rate Swap Provider pays or transfers Swap Collateral to Funding 2 in accordance with the Funding 2 Basis Rate Swap Agreement; and (ix) the Funding 2 Master Intercompany Loan Ledger, which shall to be divided into segregated sub-ledgers each of which shall record payments made under each Loan Tranche (each of which shall be divided into sub- ledgers to record payments of interest and fees and repayments of principal made under the applicable Loan Tranche). (bc) The Cash Manager shall make credits and debits to the Funding 2 Ledgers in accordance with the provisions of paragraphs 22 through 30 of Schedule 2 hereto2.

Funding 2 Ledgers. (a) The Cash Manager shall open and maintain in the books of Funding 2 the following ledgers on behalf of Funding 2: (i) the Funding 2 Principal Ledger, which shall separately reflect all Funding 2 Principal Receipts received by Funding 2 on each Distribution Date (other than any Funding 2 Principal Receipts constituting the Cash Accumulation Requirement) and all Funding 2 Principal Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Principal Receipts credited to the Funding 2 Cash Accumulation Ledger); (ii) the Funding 2 Cash Accumulation Ledger which shall separately reflect all Funding 2 Principal Receipts received by Funding 2 on each Distribution Date in respect of the Cash Accumulation Requirement; (iii) the Funding 2 Principal Deficiency Ledger, which shall comprise five sub-ledgers to be known as the AAA Principal Deficiency Sub-Ledger, the AA Principal Deficiency Sub-Ledger, the A Principal Deficiency Sub-Ledger, the BBB Principal Deficiency Sub-Ledger and the BB Principal Deficiency Sub-Ledger, and which shall record (A) any principal deficiencies arising from Losses on the Mortgage Loans which have been allocated to Funding 2, (B) the application of Funding 2 Available Principal Receipts to meet any deficiency in Funding 2 Available Revenue Receipts, (C) the application of Funding 2 Available Principal Receipts to fund the Funding 2 Liquidity Reserve Fund and (D) the application of Funding 2 Available Revenue Receipts to be applied to reduce the balances on the Funding 2 Principal Deficiency Ledger; (iv) the Funding 2 Revenue Ledger, which shall separately reflect all Funding 2 Revenue Receipts received by Funding 2 on each Distribution Date, and all Funding 2 Revenue Receipts standing to the credit of each Funding 2 Bank Account (other than any Funding 2 Swap Collateral Account); (v) the Funding 2 Reserve Ledger, which shall record the amount credited to the Funding 2 Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Reserve Fund; (vi) the Funding 2 Liquidity Reserve Ledger, which shall record the amount credited to the Funding 2 Liquidity Reserve Fund from time to time, and subsequent withdrawals and deposits in respect of the Funding 2 Liquidity Reserve Fund provided that the Funding 2 Liquidity Reserve Ledger shall only be established in the event that Funding 2 is required to do so pursuant to the terms of establish the Funding 2 Deed of ChargeLiquidity Reserve Fund; (vii) the Funding 2 Liquidity Facility Ledger which shall record all drawings and repayments in respect of any Funding 2 Liquidity Facility provided that the Funding 2 Liquidity Facility Ledger shall only be established in the event that Funding 2 enters into a Funding 2 Liquidity Agreement; (viii) the Funding 2 Swap Collateral Ledger to record all payments, deliveries, transfers and receipts in connection with Swap Collateral, including, without limitation: (A) the delivery of any Swap Collateral to Funding 2 by the Funding 2 Basis Rate Swap Provider; (B) the receipt of any income or distributions in respect of such Swap Collateral and the payment of such income or distributions to the Funding 2 Basis Rate Swap Provider; (C) the return of all, or any part of, such Swap Collateral to the Funding 2 Basis Rate Swap Provider; and (D) the payment or transfer of all, or any part of, such Swap Collateral to the Funding 2 Transaction Account or the Funding 2 Swap Account, provided that the Funding 2 Swap Collateral Ledger shall only be established in the event that the Funding 2 Basis Rate Swap Provider pays or transfers Swap Collateral to Funding 2 in accordance with the Funding 2 Basis Rate Swap Agreement; and (ix) the Funding 2 Intercompany Loan Ledger, which shall be divided into segregated sub-ledgers each of which shall record payments made under each Loan Tranche (each of which shall be divided into sub- sub-ledgers to record payments of interest and fees and repayments of principal made under the applicable Loan Tranche). (b) The Cash Manager shall make credits and debits to the Funding 2 Ledgers in accordance with the provisions of paragraphs 22 [o] through 30 [o] of Schedule 2 hereto.