Exhibit 99.4
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Date: April 28, 2006
To: Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-6AR From: Xxxxxx Xxxxxxx Capital Services Inc.
Attn: Xxxxx Fargo Bank, National Association Contact: Xxxxxx Xxxxx
0000 Xxx Xxxxxxxxx Xxxx
Xxxxxxxx, XX 00000
Attention: Client Manager, MSM 0000-0XX
Fax: (000) 000-0000 Fax: (000) 000-0000
Tel: (000) 000-0000 Tel: (000) 000-0000
REFERENCE NUMBER: FRSSU
------------------------------------------------------------ ---------------------------------------------------------
The purpose of this letter agreement (this "Confirmation") is to confirm the
terms and conditions of the Swap Transaction entered into on the Trade Date
specified below (the "Transaction") between Xxxxxx Xxxxxxx Capital Services
Inc. ("Party A") and Xxxxx Fargo Bank, National Association, solely in its
capacity as securities administrator (the "Securities Administrator") on
behalf of the Xxxxxx Xxxxxxx Mortgage Loan Trust 2006-6AR ("Party B") pursuant
to the Pooling and Servicing Agreement (the "PSA"), dated as of April 1, 2006,
among Xxxxxx Xxxxxxx Capital I Inc. (the "Depositor"), the Securities
Administrator as master servicer and securities administrator and LaSalle Bank
National Association as trustee (the "Trustee").
The definitions and provisions contained in the 2000 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 the Definitions and this Confirmation, this
Confirmation will govern. Terms capitalized but not defined in this
Confirmation (including the Definitions) have the meanings attributed to them
in the PSA.
This Confirmation constitutes a "Confirmation" as referred to in, and
supplements, forms part of and is subject to, the ISDA Master Agreement dated
as of April 28, 2006, as amended and supplemented from time to time (the
"Agreement"), between Party A and Party B. All provisions contained in the
Agreement govern this Confirmation except as expressly modified below.
1. The terms of the particular Transaction to which this Confirmation relates are as follows:
Notional Amount:................................. With respect to any Calculation Period, the amount set
forth for such Calculation Period in Schedule I
attached hereto.
Trade Date:...................................... April 27, 2006
Effective Date:.................................. April 28, 2006
Termination Date:................................ March 25, 2011, subject to adjustment in accordance
with the Business Day Convention
Fixed Amounts:
Fixed Rate Payer:....................... Party B
Fixed Rate Payer Payment Dates:......... The 25th calendar day of each month during the Term of
this Transaction, commencing May 25, 2006 and ending on
the Termination Date, subject to adjustment in
accordance with the Business Day Convention
1
Fixed Rate Payer Period End Dates:...... The 25th calendar day of each month during the Term of
this Transaction, commencing May 25, 2006 and ending on
the March 25, 2011, subject to No Adjustment.
Fixed Rate:............................. 5.28%
Fixed Amount:........................... To be determined in accordance with the following
formula:
10 * Fixed Rate * Notional Amount * Fixed Rate Day
Count Fraction.
Fixed Rate Day Count Fraction:.......... 30/360
Floating Amounts:
Floating Rate Payer:.................... Party A
Floating Rate Payer Payment Dates:...... Early Payment shall be applicable. For each 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 Period End Dates:... The 25th calendar day of each month during the Term of
this Transaction, commencing May 25, 2006 and ending on
the Termination Date, subject to adjustment in
accordance with the Business Day Convention.
Floating Rate Option:................... USD-LIBOR-BBA
Floating Amount:........................ To be determined in accordance with the following
formula:
10 * Floating Rate * Notional Amount *Floating Rate Day
Count Fraction.
Designated Maturity:.................... One month
Floating Rate Day Count Fraction:....... Actual/360
Reset Dates:............................ The first day of each Calculation Period.
Compounding:............................ Inapplicable
Business Days:.......................... New York
Business Day Convention:................ Following
Amendment to Section 2(c) of the Agreement: Notwithstanding anything to the contrary in 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
2
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.
2. Account Details and Settlement Information:
Payments to Party A:
Citibank, New York
ABA No.: 021 000 089
Account No.: 4072-4601
Account Name: Xxxxxx Xxxxxxx Capital Services Inc.
Payments to Party B:
Xxxxx Fargo Bank, National Association
ABA No. 000-000-000
Account Name: Corporate Trust Clearing
Account No. 0000000000 for further credit to 50913801,
MSM 2006-6AR
Ref: MSM 2006-6AR
3. Fiduciary Capacity. It is expressly understood and agreed by the
parties hereto that (i) this Confirmation is executed and delivered
by Xxxxx Fargo Bank, National Association, not in its individual
capacity but solely as Securities Administrator on behalf of the
Trustee under the PSA in the exercise of the powers and authority
conferred to and vested in it thereunder, (ii) each of the
representations, undertakings and agreements herein made on behalf
of the trust created under the PSA is made and intended not as
personal representation, undertaking or agreement of the Securities
Administrator, but is made and intended for the purpose of binding
only such trust and (iii) under no circumstances shall Xxxxx Fargo
Bank, National Association in its individual capacity be personally
liable for the payment of any indebtedness or expenses or be
personally liable for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken under this
Confirmation.
3
We are very pleased to have entered into this Transaction with you and we look
forward to completing other transactions with you in the near future.
Very truly yours,
XXXXXX XXXXXXX CAPITAL SERVICES INC.
By: /s/ Xxxxxxxxx Xxxxxx
---------------------------------------
Name: Xxxxxxxxx Xxxxxx
Title: Authorized Signatory
Party B, acting through its duly authorized signatory, hereby agrees to,
accepts and confirms the terms of the foregoing as of the Trade Date.
XXXXX FARGO BANK, NATIONAL ASSOCIATION,
acting not in its individual
capacity but solely as Securities
Administrator on behalf of XXXXXX
XXXXXXX MORTGAGE LOAN TRUST 2006-6AR
By: /s/ Xxxxxxxx Xxxxx
---------------------------------------
Name: Xxxxxxxx Xxxxx
Title: VP
4
SCHEDULE I
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Line Calculation Period NotionalAmount ($) Multiplier
---- -------------------------- ----------------------- ----------
1 4/28/2006 5/25/2006 57,970,348.87 10
2 5/25/2006 6/25/2006 55,102,594.35 10
3 6/25/2006 7/25/2006 52,374,385.29 10
4 7/25/2006 8/25/2006 49,779,022.41 10
5 8/25/2006 9/25/2006 47,310,038.43 10
6 9/25/2006 10/25/2006 44,961,280.84 10
7 10/25/2006 11/25/2006 42,726,896.61 10
8 11/25/2006 12/25/2006 40,601,317.58 10
9 12/25/2006 1/25/2007 38,562,968.69 10
10 1/25/2007 2/25/2007 34,569,186.60 10
11 2/25/2007 3/25/2007 32,656,896.98 10
12 3/25/2007 4/25/2007 30,440,738.01 10
13 4/25/2007 5/25/2007 28,880,397.56 10
14 5/25/2007 6/25/2007 27,429,068.15 10
15 6/25/2007 7/25/2007 26,048,421.73 10
16 7/25/2007 8/25/2007 24,735,016.76 10
17 8/25/2007 9/25/2007 23,472,438.93 10
18 9/25/2007 10/25/2007 22,262,204.43 10
19 10/25/2007 11/25/2007 21,076,972.91 10
20 11/25/2007 12/25/2007 19,777,267.03 10
21 12/25/2007 1/25/2008 18,496,612.16 10
22 1/25/2008 2/25/2008 16,920,229.18 10
23 2/25/2008 3/25/2008 15,799,682.21 10
24 3/25/2008 4/25/2008 14,866,437.16 10
25 4/25/2008 5/25/2008 14,097,764.50 10
26 5/25/2008 6/25/2008 13,366,530.08 10
27 6/25/2008 7/25/2008 12,666,178.78 10
28 7/25/2008 8/25/2008 11,980,153.10 10
29 8/25/2008 9/25/2008 11,235,905.67 10
30 9/25/2008 10/25/2008 10,622,314.58 10
31 10/25/2008 11/25/2008 10,036,009.12 10
32 11/25/2008 12/25/2008 9,474,261.03 10
33 12/25/2008 1/25/2009 8,886,216.88 10
34 1/25/2009 2/25/2009 7,365,954.40 10
35 2/25/2009 3/25/2009 6,808,798.52 10
36 3/25/2009 4/25/2009 6,400,852.73 10
37 4/25/2009 5/25/2009 6,039,418.10 10
38 5/25/2009 6/25/2009 6,191,018.76 10
39 6/25/2009 7/25/2009 5,985,926.60 10
40 7/25/2009 8/25/2009 5,679,427.34 10
41 8/25/2009 9/25/2009 5,387,859.25 10
42 9/25/2009 10/25/2009 5,110,495.17 10
43 10/25/2009 11/25/2009 4,846,643.33 10
44 11/25/2009 12/25/2009 4,595,645.64 10
45 12/25/2009 1/25/2010 4,356,876.08 10
46 1/25/2010 2/25/2010 4,129,739.07 10
47 2/25/2010 3/25/2010 3,913,668.07 10
48 3/25/2010 4/25/2010 3,708,124.10 10
49 4/25/2010 5/25/2010 3,512,594.44 10
50 5/25/2010 6/25/2010 3,326,591.32 10
I-1
Line Calculation Period NotionalAmount ($) Multiplier
---- -------------------------- ----------------------- ----------
51 6/25/2010 7/25/2010 3,149,650.73 10
52 7/25/2010 8/25/2010 2,981,331.25 10
53 8/25/2010 9/25/2010 2,816,343.26 10
54 9/25/2010 10/25/2010 2,657,687.60 10
55 10/25/2010 11/25/2010 2,472,810.36 10
56 11/25/2010 12/25/2010 2,322,186.19 10
57 12/25/2010 1/25/2011 1,839,816.77 10
58 1/25/2011 2/25/2011 227,801.19 10
59 2/25/2011 3/25/2011 29,844.15 10
I-2
