The Corridor Confirmation
EXHIBIT
99.2
The
Corridor Confirmation
CREDIT
SUISSE INTERNATIONAL
Xxx
Xxxxx
Xxxxxx, Telephone
000 0000 0000
London
E14
4QJ
xxx.xxxxxx-xxxxxx.xxx
30
March
2007
The
Bank
of New York, not in its individual or corporate capacity, but solely as trustee
for the Supplemental Interest Trust created under the Pooling and Servicing
Agreement for CHL Mortgage Pass-Through Trust 2007-4
External
ID: 53208871N3
Dear
Sirs,
The
purpose of this letter agreement (this "Confirmation") is to confirm the terms
and conditions of the Swap Transaction entered into between us on the Trade
Date
specified below (the "Swap Transaction"). This Confirmation
constitutes a "Confirmation" as referred to in the Agreement specified
below.
In
this Confirmation "CSIN" means Credit Suisse International and "Counterparty"
means The Bank of New York, not in its individual or corporate capacity, but
solely as trustee for the Supplemental Interest Trust created under the Pooling
and Servicing Agreement for CHL Mortgage Pass-Through Trust
2007-4.
1.
|
The
definitions and provisions contained in the 2000 ISDA 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 1992
ISDA
Master Agreement dated as of 30 March 2007 as amended and supplemented
from time to time (the "Agreement"), between you and us. All
provisions contained in the Agreement govern this Confirmation except
as
expressly modified below.
|
CSIN
and Counterparty each represents to the other that it has entered
into
this Swap Transaction in reliance upon such tax, accounting, regulatory,
legal, and financial advice as it deems necessary and not upon any
view
expressed by the other.
|
2.
|
The
terms of the particular Swap Transaction to which this Confirmation
relates are as follows:
|
Transaction Type: | Rate Cap Transaction |
|
Notional
Amount:
|
USD
54,542,668.00, subject to amortization as set out in the Additional
Terms
|
Trade Date: | 26 March 2007 |
|
Effective
Date:
|
30
March 2007
|
|
Termination
Date:
|
25
May 2011
|
Fixed
Amounts:
|
Fixed Rate Payer: | Counterparty |
|
Fixed
Rate
Payer Payment Date: |
30 March 2007, subject to adjustment in accordance with the Following Business Day Convention |
Fixed Amount: | USD 163,000 |
Floating Amounts: |
Floating Amount Payer: | CSIN |
Floating
Rate Payer Period End Dates: |
The 25th of each month, commencing on 25 April 2007, and ending on the Termination Date, inclusive, with No Adjustment to Period End Dates |
Floating
Rate Payer Payment Dates: |
One Business Day prior to each Floating Rate Payer Period End Date |
Cap Strike Rate: | 5.40% |
Initial Calculation Period: | From and including 30 March 2007 up to but excluding the Floating Rate Payer Period End Date scheduled to occur on 25 April 2007. |
Floating Rate Option: | USD-LIBOR-BBA |
Maximum Rate: | 99.00% |
Designated Maturity: | 1 month |
Spread: | None |
Floating
Rate
Day Count Fraction: |
30/360
|
||
Reset Dates: | The first day of each Calculation Period | ||
Compounding: | Inapplicable | ||
Business Days: | New York, California and Texas | ||
Calculation Agent: | CSIN |
3.
|
Account
Details:
|
Payments
to CSIN:
|
As
advised separately in writing
|
||
Payments to Counterparty: | The
Bank of New York
New
York, NY
ABA
#000-000-000
GLA
#111 565
For
Further Credit: TAS A/C 540737
Attn: Xxxxxxx
X. Xxxxxx
Phone: x0
000 000 0000
Fax: x0
000 000
0000
|
For the purpose of facilitating this Transaction, an Affiliate of CSIN, which is organized in the United States of America (the "Agent"), has acted as agent for CSIN. The Agent is not a principal with respect to this Transaction and shall have no responsibility or liability to the parties as a principal with respect to this Transaction.
Credit
Suisse International is authorized and regulated by the Financial Services
Authority and has entered into this transaction as principal. The
time at which the above transaction was executed will be notified to
Counterparty on request.
ADDITIONAL
TERMS
Calculation
Period up to but excluding the Payment Date scheduled to occur
on:
|
Notional
Amount:
(USD)
|
25-Apr-07
|
54,542,668.00
|
25-May-07
|
54,343,255.79
|
25-Jun-07
|
54,035,991.66
|
25-Jul-07
|
53,621,684.95
|
25-Aug-07
|
53,100,313.63
|
25-Sep-07
|
52,472,043.58
|
25-Oct-07
|
51,737,230.31
|
25-Nov-07
|
50,896,420.18
|
25-Dec-07
|
49,950,350.99
|
25-Jan-08
|
48,899,952.19
|
25-Feb-08
|
47,746,344.32
|
25-Mar-08
|
46,490,838.07
|
25-Apr-08
|
45,683,518.55
|
25-May-08
|
44,814,289.11
|
25-Jun-08
|
43,884,740.52
|
25-Jul-08
|
42,896,620.31
|
25-Aug-08
|
41,851,829.11
|
25-Sep-08
|
40,752,416.39
|
25-Oct-08
|
39,600,575.78
|
25-Nov-08
|
38,398,639.73
|
25-Dec-08
|
37,149,073.84
|
25-Jan-09
|
35,854,470.53
|
25-Feb-09
|
34,517,542.29
|
25-Mar-09
|
33,141,114.64
|
25-Apr-09
|
31,728,118.32
|
25-May-09
|
30,281,581.49
|
25-Jun-09
|
28,804,621.17
|
25-Jul-09
|
27,300,434.61
|
25-Aug-09
|
25,772,290.21
|
25-Sep-09
|
24,223,518.18
|
25-Oct-09
|
22,657,501.00
|
25-Nov-09
|
21,138,036.19
|
25-Dec-09
|
19,664,102.58
|
25-Jan-10
|
18,234,699.72
|
25-Feb-10
|
16,848,847.48
|
25-Mar-10
|
15,505,585.72
|
25-Apr-10
|
14,203,973.78
|
25-May-10
|
12,943,090.19
|
25-Jun-10
|
11,722,032.22
|
25-Jul-10
|
10,539,915.57
|
25-Aug-10
|
9,395,873.93
|
25-Sep-10
|
8,289,058.72
|
25-Oct-10
|
7,218,638.65
|
25-Nov-10
|
6,183,799.41
|
25-Dec-10
|
5,183,743.36
|
25-Jan-11
|
4,217,689.14
|
25-Feb-11
|
3,284,871.41
|
25-Mar-11
|
2,384,540.47
|
25-Apr-11
|
1,515,962.00
|
25-May-11
|
678,416.73
|
Please
confirm that the foregoing correctly sets forth the terms of our agreement
by
executing the copy of this Confirmation enclosed for that purpose and returning
it to us.
Yours faithfully, | |||
Credit Suisse International | |||
|
By:
|
/s/ Xxxxx X. Xxxxxxx | |
Name: Xxxxx X. Xxxxxxx | |||
Title: Authorized Signatory | |||
|
|
|
Confirmed
as of the date first written above:
The
Bank
of New York, not in its individual or corporate capacity, but solely as trustee
for the Supplemental Interest Trust created under the Pooling and Servicing
Agreement for CHL Mortgage Pass-Through Trust 2007-4
By: /s/
Xxxxxxxx X.
Xxxxxx
Name:
Xxxxxxxx X. Xxxxxx
Title:
Vice President
Our
Reference No: External ID: 53208871N3 / Risk ID: 447740679 and
447740690