BEAR STEARNS ASSET BACKED SECURITIES I LLC Bear Stearns Asset Backed Securities I Trust 2006-HE4 Asset-Backed Certificates, Series 2006-HE4 TERMS AGREEMENT
BEAR
XXXXXXX ASSET BACKED SECURITIES I LLC
Bear
Xxxxxxx Asset Backed Securities I Trust 2006-HE4
Asset-Backed
Certificates, Series 2006-HE4
Dated:
as
of April 13, 2006
To: BEAR
XXXXXXX ASSET BACKED SECURITIES I LLC
Re: Underwriting
Agreement, dated April 13, 2006
Underwriters: Bear,
Xxxxxxx & Co. Inc. and SG Americas Securities, LLC (the “Underwriters”)
Series
Designation: Series
2006-HE4
Class
Designation Schedule of the Certificates: Class I-A-1, Class I-A-2, Class I-A-3,
Class II-A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6,
Class M-7, Class M-8 and Class M-9 Certificates (the
“Certificates”)
Terms
of the Certificates:
|
Class
|
Original
Certificate Principal Balance
|
Pass-Through
|
|||||
|
I-A-1
|
$
|
183,843,000
|
Adjustable
|
||||
|
I-A-2
|
$
|
94,107,000
|
Adjustable
|
||||
|
I-A-3
|
$
|
26,790,000
|
Adjustable
|
||||
|
II-A
|
$
|
264,889,000
|
Adjustable
|
||||
|
M-1
|
$
|
27,751,000
|
Adjustable
|
||||
|
M-2
|
$
|
25,560,000
|
Adjustable
|
||||
|
M-3
|
$
|
15,336,000
|
Adjustable
|
||||
|
M-4
|
$
|
12,780,000
|
Adjustable
|
||||
|
M-5
|
$
|
12,780,000
|
Adjustable
|
||||
|
M-6
|
$
|
11,685,000
|
Adjustable
|
||||
|
M-7
|
$
|
10,954,000
|
Adjustable
|
||||
|
M-8
|
$
|
10,224,000
|
Adjustable
|
||||
|
M-9
|
$
|
7,303,000
|
Adjustable
|
||||
The
initial certificate principal balance of each class is subject to a variance
of
plus or minus 10%.
The
Certificates purchased by the Underwriter will be offered from time to time
by
the Underwriter in negotiated transactions at varying prices to be determined
at
the time of sale.
Defined
Terms:
Terms
not otherwise defined herein shall have the meanings given to such terms in
the
Pooling and Servicing Agreement, dated as of April 1, 2006, among Bear Xxxxxxx
Asset Backed Securities I LLC, as depositor, EMC Mortgage Corporation, as
sponsor and company, Citibank, N.A. as trustee and LaSalle Bank National
Association, as master servicer and securities administrator.
Form
of Certificates Being Purchased by the Underwriter:
Book-Entry.
Distribution
Dates:
The
25th day of each month or, if such 25th day is not a business day, the next
succeeding business day beginning in May 2006.
Certificate
Rating for the Certificates Being Purchased by the Underwriter:
|
Class
|
Ratings
|
|
|
S&P
|
Xxxxx’x
|
|
|
I-A-1
|
AAA
|
Aaa
|
|
I-A-2
|
AAA
|
Aaa
|
|
I-A-3
|
AAA
|
Aaa
|
|
II-A
|
AAA
|
Aaa
|
|
M-1
|
AA+
|
Aa1
|
|
M-2
|
AA
|
Aa2
|
|
M-3
|
AA-
|
Aa3
|
|
M-4
|
A+
|
A1
|
|
M-5
|
A
|
A2
|
|
M-6
|
A-
|
A3
|
|
M-7
|
BBB+
|
Baa1
|
|
M-8
|
BBB
|
Baa2
|
|
M-9
|
BBB-
|
Baa3
|
Mortgage
Assets:
The
Mortgage Loans to be included in the Trust Fund are as described in Annex A
hereto.
Purchase
Price:
The
aggregate purchase price payable by the Underwriters for the Certificates
covered by this Agreement will be $ 703,650,000.
Credit
Enhancement:
Excess
spread, overcollateralization and subordination as described in the related
Prospectus Supplement. Also, the Certificates benefit from an interest rate
swap
agreement.
Closing
Date:
April
28, 2006.
The
undersigned, as Underwriters, agree, subject to the terms and provisions of
the
above-referenced Underwriting Agreement, which is incorporated herein in its
entirety and made a part hereof, to purchase the respective principal amounts
of
the Classes of the above-referenced Series of Certificates as set forth
herein.
|
BEAR,
XXXXXXX & CO. INC.
|
|
|
By:
|
/s/
Xxxxxxx Xxxxxxx
|
|
Name:
|
Xxxxxxx
Xxxxxxx
|
|
Title:
|
Senior
Managing Director
|
|
SG
AMERICAS SECURITIES, LLC
|
|
|
By:
|
/s/
Xxxxx Xxxxx
|
|
Name:
|
Xxxxx
Xxxxx
|
|
Title:
|
Director
|
|
Accepted:
BEAR
XXXXXXX ASSET BACKED
SECURITIES
I LLC
|
|
|
By:
|
/s/
Xxxxx Xxxxxxxxxxx
|
|
Name:
|
Xxxxx
Xxxxxxxxxxx
|
|
Title:
|
Vice
President
|
SCHEDULE
I
|
Underwriters
|
|||||||
|
Class
|
Bear,
Xxxxxxx & Co. Inc.
|
SG
Americas Securities, LLC
|
|||||
|
I-A-1
|
$
|
147,074,400
|
$
|
36,768,600
|
|||
|
I-A-2
|
$
|
75,285,600
|
$
|
18,821,400
|
|||
|
I-A-3
|
$
|
21,432,000
|
$
|
5,358,000
|
|||
|
II-A
|
$
|
211,911,200
|
$
|
52,977,800
|
|||
|
M-1
|
$
|
22,200,800
|
$
|
5,550,200
|
|||
|
M-2
|
$
|
20,448,000
|
$
|
5,112,000
|
|||
|
M-3
|
$
|
12,268,800
|
$
|
3,067,200
|
|||
|
M-4
|
$
|
10,224,000
|
$
|
2,556,000
|
|||
|
M-5
|
$
|
10,224,000
|
$
|
2,556,000
|
|||
|
M-6
|
$
|
9,348,000
|
$
|
2,337,000
|
|||
|
M-7
|
$
|
8,763,200
|
$
|
2,190,800
|
|||
|
M-8
|
$
|
8,179,200
|
$
|
2,044,800
|
|||
|
M-9
|
$
|
5,842,400
|
$
|
1,460,600
|
|||
|
Total
|
$
|
563,201,600
|
$
|
140,800,400
|
|||
Annex
A
Mortgage
Loan Schedule
[Available
Upon Request]
