Second Method and Market Quotation. If the Second Method and Market Quotation apply, an amount will be payable equal to (A) the sum of the Settlement Amount (determined by the Non-defaulting Party) in respect of the Terminated Transactions and the Termination Currency Equivalent of the Unpaid Amounts owing to the Non-defaulting Party less (B) the Termination Currency Equivalent of the Unpaid Amounts owing to the Defaulting Party. If that amount is a positive number, the Defaulting Party will pay it to the Non-defaulting Party; if it is a negative number, the Non-defaulting Party will pay the absolute value of that amount to the Defaulting Party.
Second Method and Market Quotation. If the Second Method and Market Quotation apply, (I) Party B shall pay to Party A an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (II) Party B shall pay to Party A the Termination Currency Equivalent of the Unpaid Amounts owing to Party A and (III) Party A shall pay to Party B the Termination Currency Equivalent of the Unpaid Amounts owing to Party B; provided, however, that (x) the amounts payable under the immediately preceding clauses (II) and (III) shall be subject to netting in accordance with Section 2(c) of this Agreement and (y) notwithstanding any other provision of this Agreement, any amount payable by Party A under the immediately preceding clause (III) shall not be netted-off against any amount payable by Party B under the immediately preceding clause (I).”
Second Method and Market Quotation. If Second Method and Market Quotation apply, (1) Party B shall pay to Party A an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (2) Party B shall pay to Party A the Termination Currency Equivalent of the Unpaid Amounts owing to Party A and (3) Party A shall pay to Party B the Termination Currency Equivalent of the Unpaid Amounts owing to Party B; provided that, (i) the amounts payable under (2) and (3) shall be subject to netting in accordance with Section 2(c) of this Agreement and (ii) notwithstanding any other provision of this Agreement, any amount payable by Party A under (3) shall not be netted-off against any amount payable by Party B under (1).
Second Method and Market Quotation. If the Second Method and Market Quotation apply, (I) Counterparty shall pay to Bear Xxxxxxx an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (II) Counterparty shall pay to Bear Xxxxxxx the Termination Currency Equivalent of the Unpaid Amounts owing to Bear Xxxxxxx and (III) Bear Xxxxxxx shall pay to Counterparty the Termination Currency Equivalent of the Unpaid Amounts owing to Counterparty; provided, however, that (x) the amounts payable under the immediately preceding clauses (II) and (III) shall be subject to netting in accordance with Section 2(c) of this Agreement and (y) notwithstanding any other provision of this Agreement, any amount payable by Bear Xxxxxxx under the immediately preceding clause (III) shall not be netted-off against any amount payable by Counterparty under the immediately preceding clause (I)."
Second Method and Market Quotation. If the Second Method and Market Quotation apply, an amount will be payable equal to:
Second Method and Market Quotation. If Second Method and Market Quotation apply, (1) the Trust shall pay to the Counterparty an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (2) the Trust shall pay to the Counterparty the Termination Currency Equivalent of the Unpaid Amounts owing to the Counterparty and (3) the Counterparty shall pay to the Trust the Termination Currency Equivalent of the Unpaid Amounts owing to the Trust; provided that, (i) the amounts payable under (2) and (3) shall be subject to netting in accordance with Section 2(c) of this Agreement and (ii) notwithstanding any other provision of this Agreement, any amount payable by the Counterparty under (3) shall not be netted-off against any amount payable by the Trust under item (1) above.
Second Method and Market Quotation. If the Second Method and Market Quotation apply, an amount will be payable equal to (A) the sum of the Settlement Amount (determined by the
Second Method and Market Quotation. If Second Method and Market Quotation apply, (1) the Counterparty shall pay to Xxxxxx an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (2) the Counterparty shall pay to Xxxxxx the Termination Currency Equivalent of the Unpaid Amounts owing to Xxxxxx and (3) Xxxxxx shall pay to the Counterparty the Termination Currency Equivalent of the Unpaid Amounts owing to the Counterparty, provided that, (i) the amounts payable under (2) and (3) shall be subject to netting in accordance with Section 2(c) of this Agreement and (ii) notwithstanding any other provision of this Agreement, any amount payable by Xxxxxx under (3) shall not be netted-off against any amount payable by the Counterparty under (1).” Please confirm your agreement to the terms of the foregoing Schedule by signing below. JPMORGAN CHASE BANK, N.A. By: _______/s/ Xxxxxx Mock__________ Name: Xxxxxx Xxxx Title: Vice President U.S. Bank National Association, not in its individual capacity but solely as Supplemental Trust Trustee on behalf of the Supplemental Interest Trust created under the Pooling and Servicing Agreement relating to the C-BASS Mortgage Loan Asset-Backed Certificates, Series 2007-CB1 By: ________/s/ S. Christopherson________ Name: X. Xxxxxxxxxxxxxx Title: Vice President ANNEX A PARAGRAPH 13 TO CREDIT SUPPORT ANNEX to the Schedule to the Master Agreement dated as of February 7, 2007 between JPMorgan Chase Bank, N.A. (“Xxxxxx”) and U.S. Bank National Association, not in its individual capacity but solely as Supplemental Trust Trustee on behalf of the Supplemental Interest Trust created under the Pooling and Servicing Agreement relating to the C-BASS Mortgage Loan Asset-Backed Certificates, Series 2007-CB1 (“Counterparty”) Paragraph 13. Elections and Variables
Second Method and Market Quotation. If Second Method and Market Quotation apply, (1) the Counterparty shall pay to Mxxxxx an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (2) the Counterparty shall pay to Mxxxxx the Termination Currency Equivalent of the Unpaid Amounts owing to Mxxxxx and (3) Mxxxxx shall pay to the Counterparty the Termination Currency Equivalent of the Unpaid Amounts owing to the Counterparty, provided that, (i) the amounts payable under (2) and (3) shall be subject to netting in accordance with Section 2(c) of this Agreement and (ii) notwithstanding any other provision of this Agreement, any amount payable by Mxxxxx under (3) shall not be netted-off against any amount payable by the Counterparty under (1).” Please confirm your agreement to the terms of the foregoing Schedule by signing below. JPMORGAN CHASE BANK, N.A. By: Name: Title: The Bank of New York Trust Company, N.A., not in its individual capacity but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to ChaseFlex Trust Series 2007-2 By: Name: Title: EXHIBIT W-1 FORM OF SWAP CONFIRMATION Interest Rate Swap Transaction The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between: JPMORGAN CHASE BANK, N.A. (“JPMorgan”) and The Bank of New York, not in its individual capacity but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to ChaseFlex Trust Series 2007-2 (the “Counterparty”) on the Trade Date and identified by the JPMorgan Deal Number specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the Master Agreement specified below, and supersedes any previous confirmation or other writing with respect to the transaction described below. The definitions and provisions contained in the [ ] ISDA Definitions (the “Definitions”), as published by the International Swaps and Derivatives Association, Inc. are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern. This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of April 30, 2007, as amended and supplemented from time to time (the “Agreement”), between JPMORGAN CHASE BANK, N.A. (“JPMorgan”) and The Bank of New York, not in its individual capacity but...
Second Method and Market Quotation. If Second Method and Market Quotation apply, (1) Counterparty shall pay to BNY an amount equal to the absolute value of the Settlement Amount in respect of the Terminated Transactions, (2) Counterparty shall pay to BNY the Termination Currency Equivalent of the Unpaid Amounts owing to BNY and (3) BNY shall pay to Counterparty the Termination Currency Equivalent of the Unpaid Amounts owing to Counterparty, Provided that, (i) the amounts payable under (2) and (3) shall be subject to netting in accordance with Section 2(c) and (ii) notwithstanding any other provision of this Agreement, any amount payable by BNY under (3) shall not be netted-off against any amount payable by Counterparty under (1).”
