AMENDMENT NUMBER ONE to the POOLING AND SERVICING AGREEMENT BEAR STEARNS ASSET BACKED SECURITIES I TRUST 2007-HE1, Dated as of January 1, 2007 among BEAR STEARNS ASSET BACKED SECURITIES I LLC, as Depositor, EMC MORTGAGE CORPORATION, as Seller and...
Exhibit
4.1
AMENDMENT
NUMBER ONE
to
the
BEAR
XXXXXXX ASSET BACKED SECURITIES I TRUST 2007-HE1,
Dated
as
of January 1, 2007
among
BEAR
XXXXXXX ASSET BACKED SECURITIES I LLC,
as
Depositor,
EMC
MORTGAGE CORPORATION,
as
Seller
and Master Servicer,
and
LASALLE
BANK NATIONAL ASSOCIATION,
as
Trustee
This
AMENDMENT NUMBER ONE is made and entered into this 26th
day of
March, 2007, by and among BEAR XXXXXXX ASSET BACKED SECURITIES I LLC, a Delaware
limited liability company, as depositor (the “Depositor”), EMC MORTGAGE
CORPORATION, a Delaware corporation, as seller (in such capacity, the “Seller”)
and as master servicer (in such capacity, the “Master Servicer ”), and LASALLE
BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the
“Trustee”), in connection with the Pooling and Servicing Agreement, dated as of
January 1, 2007, among the above-mentioned parties (the “Agreement”), and the
issuance of Bear Xxxxxxx Asset Backed Securities I Trust 2007-HE1, Asset-Backed
Certificates, Series 2007-HE1. This amendment is made pursuant to Section 11.01
of the Agreement.
1. Capitalized
terms used herein and not defined herein shall have the meanings assigned to
such terms in the Agreement.
2. The
definition of Group I Stepdown Date in Section 1.01 of the Agreement is hereby
amended effective as of the date hereof by deleting it in its entirety and
replacing it with the following:
Group
I Stepdown Date:
The
later to occur of (a) the Distribution Date in February 2010 and (b) the first
Distribution Date on which the Group I Current Specified Enhancement Percentage
is greater than or equal to 43.60%.
3. The
definition of Group II Stepdown Date in Section 1.01 of the Agreement is hereby
amended effective as of the date hereof by deleting it in its entirety and
replacing it with the following:
Group
II Stepdown Date:
The
later to occur of (a) the Distribution Date in February 2010 and (b) the first
Distribution Date on which the Group II Current Specified Enhancement Percentage
is greater than or equal to 55.40%.
4. Except
as
amended above, the Agreement shall continue to be in full force and effect
in
accordance with its terms.
IN
WITNESS WHEREOF, the Depositor, the Master Servicer, the Seller and the Trustee
have caused their names to be signed hereto by their respective officers
thereunto duly authorized as of the day and year first above
written.
BEAR
XXXXXXX ASSET BACKED SECURITIES I LLC,
as
Depositor
By:
/s/ Xxxxx Xxxxxxxxxxx
|
Name:
|
Xxxxx
Xxxxxxxxxxx
|
|
Title:
|
Vice
President
|
EMC
MORTGAGE CORPORATION
as
Seller
and Master Servicer
By:
/s/ Xxxx Xxxxxxxx
|
Name:
|
Xxxx
Xxxxxxxx
|
|
Title:
|
Assistant
Secretary
|
LASALLE
BANK NATIONAL ASSOCIATION
as
Trustee
By:
/s/ Xxxxx X.
Xxxx
|
Name:
|
Xxxxx
X. Xxxx
|
|
Title:
|
Vice
President
|
