WWW.BOOK.XLIBX.INFO
FREE ELECTRONIC LIBRARY - Books, abstracts, thesis
 
<< HOME
CONTACTS

Pages:     | 1 |   ...   | 29 | 30 || 32 | 33 |   ...   | 57 |

«IMPORTANT NOTICE Attached please find an electronic copy of the Offering Circular (the “Offering Circular”), dated September 22, 2006 relating to ...»

-- [ Page 31 ] --

(F) (x) (1) with respect to any Prime RMBS Security (Jumbo) not publicly rated by Moody’s, if such Prime RMBS Security (Jumbo) is publicly rated by Standard & Poor’s, then the Moody’s Rating thereof will be (1) one subcategory below the Moody’s equivalent rating assigned by Standard & Poor’s if the rating assigned by Standard & Poor’s is “AAA”; (2) two rating subcategories below the Moody’s equivalent rating assigned by Standard & Poor’s if the rating assigned by Standard & Poor’s is “AA+” to “BBB-”; and (3) three rating subcategories below the Moody’s equivalent rating assigned by Standard & Poor’s if the rating assigned by Standard & Poor’s is below “BBB-” and (2) with respect to any Alt-A RMBS not publicly rated by Moody’s, if such Alt-A RMBS is publicly rated by Standard & Poor’s, then the Moody’s Rating thereof will be (1) one subcategory below the Moody’s equivalent rating assigned by Standard & Poor’s if the rating assigned by Standard & Poor’s is “AAA”; (2) three rating subcategories below the Moody’s equivalent rating assigned by Standard & Poor’s if the rating assigned by Standard & Poor’s is “AA+” to “BBB-”; and (3) four rating subcategories below the Moody’s equivalent rating assigned by Standard & Poor’s if the rating assigned by Standard & Poor’s is below “BBB-”;

(y) (1) with respect to any Prime RMBS Security (Jumbo) not publicly rated by Moody’s, if such Prime RMBS Security (Jumbo) is publicly rated by Fitch, then the Moody’s Rating thereof will be (1) one subcategory below the Moody’s equivalent rating assigned by Fitch if the rating assigned by Fitch is “AAA”;

(2) two rating subcategories below the Moody’s equivalent rating assigned by Fitch if the rating assigned by Fitch is “AA+” to “BBB-”; and (3) four rating subcategories below the Moody’s equivalent rating assigned by Fitch if the rating assigned by Fitch is below “BBB-” and (2) with respect to any Alt-A RMBS not publicly rated by Moody’s, if such Alt-A RMBS is publicly rated by Fitch, then the Moody’s Rating thereof will be (1) one subcategory below the Moody’s equivalent rating assigned by Fitch if the rating assigned by Fitch is “AAA”;

(2) three rating subcategories below the Moody’s equivalent rating assigned by Fitch if the rating assigned by Fitch is “AA+” to “BBB-”; and (3) five rating subcategories below the Moody’s equivalent rating assigned by Fitch if the rating assigned by Fitch is below “BBB-”; and

–  –  –

(H) with respect to any other type of Asset-Backed Security not referred to in clauses (A) through (G) above shall be determined pursuant to subclause (i) above;

(iii) with respect to Guaranteed Asset-Backed Securities, if the related corporate guarantees are not publicly rated by Moody’s but another security or obligation of the guarantor or obligor (an “other security”) is publicly rated by Moody’s, and no rating has been assigned in accordance with clause (i), the Moody’s Rating of such Guaranteed Asset-Backed

Security shall be determined as follows:

–  –  –

(C) if the corporate guarantee is a subordinated obligation of the guarantor or obligor

and the other security is a senior secured obligation that is:

(1) rated “Ba3” or higher by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be three rating subcategories below the rating of the other security; or (2) rated “B1” or lower by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be two rating subcategories below the rating of the other security;

(D) if the corporate guarantee is a senior secured obligation of the guarantor or

obligor and the other security is a senior unsecured obligation that is:

(1) rated “Baa3” or higher by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be the rating of the other security; or (2) rated “Ba1” or lower by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be one rating subcategory above the rating of the other security;

(E) if the corporate guarantee in respect of such Guaranteed Asset-Backed Security is a senior unsecured obligation of the guarantor or obligor and the other security is also a senior unsecured obligation, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be the rating of the other security;

(F) if the corporate guarantee is a subordinated obligation of the guarantor or obligor

and the other security is a senior unsecured obligation that is:

(1) rated “B1” or higher by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be two rating subcategories below the rating of the other security; or (2) rated “B2” or lower by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be one rating subcategory below the rating of the other security;

(G) if the corporate guarantee is a senior secured obligation of the guarantor or

obligor and the other security is a subordinated obligation that is:

(1) rated “Baa3” or higher by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be one rating subcategory above the rating of the other security;





(2) rated below “Baa3” but not rated “B3” by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be two rating subcategories above the rating of the other security;

(3) rated “B3” by Moody’s, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be “B2”;

(H) if the corporate guarantee is a senior unsecured obligation of the guarantor or obligor and the other security is a subordinated obligation, the Moody’s Rating of such Guaranteed Asset-Backed Security shall be one rating subcategory above the rating of the other security; and (I) if the Guaranteed Asset-Backed Security is a subordinated obligation of the guarantor or obligor and the other security is also a subordinated obligation, the

–  –  –

(iv) with respect to Guaranteed Asset-Backed Securities the related corporate guarantees with respect to which are issued by U.S., U.K. or Canadian guarantors or by any other Qualifying Foreign Obligor, if such corporate guarantee is not publicly rated by Moody’s, and no other security or obligation of the guarantor is rated by Moody’s, then the Moody’s Rating of such Guaranteed Asset-Backed Security may be determined using any one of

the methods below:

–  –  –

(B) if such corporate guarantee is not publicly rated by Moody’s or Standard & Poor’s, and no other security or obligation of the guarantor is publicly rated by Moody’s or Standard & Poor’s, then the Issuer may present such corporate guarantee to Moody’s for an estimate of such Guaranteed Asset-Backed Security’s rating factor, from which its corresponding Moody’s rating may be determined, which shall be its Moody’s Rating;

(C) with respect to a corporate guarantee issued by a U.S. corporation, if (1) neither the guarantor nor any of its affiliates is subject to reorganization or bankruptcy proceedings, (2) no debt securities or obligations of the guarantor are in default, (3) neither the guarantor nor any of its affiliates have defaulted on any debt during the past two years, (4) the guarantor has been in existence for the past five years, (5) the guarantor is current on any cumulative dividends, (6) the fixedcharge ratio for the guarantor exceeds 125% for each of the past two fiscal years and for the most recent quarter, (7) the guarantor had a net annual profit before tax in the past fiscal year and the most recent quarter and (8) the annual financial statements of the guarantor are unqualified and certified by a firm of independent accountants of national reputation, and quarterly statements are unaudited but signed by a corporate officer, the Moody’s Rating of such Guaranteed Asset Backed Security will be “B3”;

(D) with respect to a corporate guarantee issued by a non-U.S. guarantor, if (1) neither the guarantor nor any of its affiliates is subject to reorganization or bankruptcy proceedings and (2) no debt security or obligation of the guarantor has been in default during the past two years, the Moody’s Rating of such Guaranteed Asset-Backed Security will be “Caa2”; and

–  –  –

(w) the rating of any rating agency used to determine the Moody’s Rating pursuant to any of clauses (i), (ii), (iii) or (iv) above shall be a public rating (and not an estimated rating) that addresses the obligation of the obligor (or guarantor, where applicable) to pay principal of and interest on the relevant Collateral Debt Security in full and is monitored on an ongoing basis by the relevant rating agency;

(x) in respect of Collateral Debt Securities the Moody’s Rating of which is based on a rating of another rating agency (1) if such Collateral Debt Securities are rated by both Standard & Poor’s and Fitch, the aggregate Principal Balance of all such Pledged Collateral Debt Securities may not exceed 20% of the aggregate Principal Balance of all Pledged Collateral Debt Securities; (2) if such Collateral Debt Securities are rated by either of the other rating agencies (but not both), the aggregate Principal Balance of all such Pledged Collateral Debt Securities may not exceed 10% of the aggregate Principal Balance of all Pledged Collateral Debt Securities; and (3) if such Collateral Debt Securities are rated by the same rating agency (and no other rating agency), the aggregate Principal Balance of all such Pledged Collateral Debt Securities may not exceed 7.5% of the aggregate Principal Balance of all Pledged Collateral Debt Securities;

(y) [reserved]; and (z) other than for the purposes of paragraph (6) of the Eligibility Criteria, (A) if a Collateral Debt Security rated “Aa1” or below is placed on a watch list for possible upgrade by Moody’s, the Moody’s Rating applicable to such Collateral Debt Security shall be “Aaa” if such Collateral Debt Security is rated “Aa1”, and otherwise shall be two rating subcategories above the Moody’s Rating applicable to such Collateral Debt Security immediately prior to such Collateral Debt Security being placed on such watch list, (B) if a Collateral Debt Security rated “Aa1” or below is placed on a watch list for possible downgrade by Moody’s, the Moody’s Rating applicable to such Collateral Debt Security shall be two rating subcategories below the Moody’s Rating applicable to such Collateral Debt Security immediately prior to such Collateral Debt Security being placed on such watch list and (C) if a Collateral Debt Security rated “Aaa” is placed on a watch list for possible downgrade by Moody’s, the Moody’s Rating applicable to such Collateral Debt Security shall be one rating subcategory below the Moody’s Rating applicable to such Collateral Debt Security immediately prior to such Collateral Debt Security being placed on such watch list.

The “Standard & Poor’s Rating” of any Collateral Debt Security will be determined as follows (provided that “Standard & Poor’s Rating” in respect of any Credit Default Swap shall be deemed to relate

to the related Reference Obligation):

(I) if such Collateral Debt Security is an Asset-Backed Security or a Credit Default Swap the

Reference Obligation of which is an Asset-Backed Security:

–  –  –

(II) if such Collateral Debt Security is a Guaranteed Asset-Backed Security or a Credit Default Swap

the Reference Obligation of which is a Guaranteed Asset-Backed Security:

–  –  –

(III) if such Collateral Debt Security is a Credit Default Swap:

(i) if Standard & Poor’s has assigned a rating to the underlying Reference Obligation either publicly or privately (in the case of a private rating, with the appropriate consents provided by the Collateral Servicer to Standard & Poor’s for the use of such private rating), the Standard & Poor’s Rating shall be the rating assigned thereto by Standard & Poor’s (as described in clauses (I) through (II) above); provided that, solely for the purposes of determining compliance with the Standard & Poor’s CDO Monitor Test, in respect of any Credit Default Swap that is on watch for a possible upgrade or downgrade by Standard & Poor’s, the Standard & Poor’s Rating of such Credit Default Swap shall be one subcategory above or below, respectively, the Standard & Poor’s rating otherwise assigned to such Collateral Debt Security; and (ii) if the Reference Obligation underlying such Credit Default Swap is not rated by Standard & Poor’s, the Standard & Poor’s Rating shall be, in the Collateral Servicer’s discretion, the rating determined pursuant to clauses (I) through (II) above, or the Issuer or the Collateral Servicer shall request that Standard & Poor’s assign a credit estimate in connection with the acquisition thereof to such Credit Default Swap and the Standard & Poor’s Rating shall be the credit estimate so assigned by Standard & Poor’s.

Moody’s Minimum Asset Test

The “Moody’s Minimum Asset Test” will be satisfied if on any Measurement Date on or after the Ramp-Up Completion Date the number of Collateral Debt Securities is at least equal to 155; provided that solely for purposes of this test any Collateral Debt Security whose Principal Balance is not at least equal to the Moody’s Minimum Asset Size shall be excluded.

The “Moody’s Minimum Asset Size” means an amount equal to $100,000.

–  –  –

The “Weighted Average Coupon Test” means a test that is satisfied on any Measurement Date on or after the Ramp-Up Completion Date if the Weighted Average Coupon as of such Measurement Date is equal to or greater than 4.75%.



Pages:     | 1 |   ...   | 29 | 30 || 32 | 33 |   ...   | 57 |


Similar works:

«Last Updated: March 16, 2016 Antarctica Classic XVCASX 11 days: Ushuaia to Ushuaia What's Included • 9 nts aboard the G Expedition • 1 nt hotel in Ushuaia • Arrival and departure transfers • Zodiac excursions with our expert expedition team • Lectures and educational programs • Waterproof boots supplied for USA size 6 16 • Expedition parka The information in this trip details document has been compiled with care and is provided in good faith. However it is subject to change, and...»

«The University of Arizona Undergraduate Programs in Mathematics 2013–2014 The information and requirements given here apply to the 2013–2014 catalog. For other catalog years, please consult the archive (http://math.arizona.edu/ugprogram/degrees/archive/). This booklet describes the undergraduate degree programs in Mathematics available for a student at The University of Arizona. It also contains information about facilities, activities, jobs, advisors, and other services and activities...»

«11-15463-shl Doc 1722 Filed 03/13/12 Entered 03/13/12 22:46:55 Main Document Pg 1 of 788 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK x : In re : Chapter 11 Case No. : AMR CORPORATION, et al.,1 : 11-15463 (SHL) : : (Jointly Administered) Debtors. : : Ref. Docket No. 1593 x AFFIDAVIT OF SERVICE STATE OF NEW YORK ) ) ss.: COUNTY OF NEW YORK ) SID GARABATO, being duly sworn, deposes and says: 1. I am employed as a Senior Case Manger by Epiq Bankruptcy Solutions, LLC, located at 757...»

«WORKING PAPER 29/2006 Usability Testing von ERP-Systemen Univ.-Prof. Dipl.-Ing. Dr. Hans Hinterhuber A. Univ.-Prof. Mag. Dr. Kurt Promberger Mag. Felix Piazolo Unter Mitarbeit von Katrin Kneissl Leopold-Franzens-Universität Innsbruck Fakultät für Betriebswirtschaft Institut für Strategisches Management, Marketing und Tourismus Universitätsstr. 15 A – 6020 Innsbruck, Austria Tel. +43-512-507-7601 Internet: www.verwaltungsmanagement.at E-Mail: verwaltungsmanagement@uibk.ac.at Usability...»

«Publish detail Dictionary Of Bible books document, also Download PDF Dictionary Of Bible digital file DICTIONARY OF BIBLE PDF Download: DICTIONARY OF BIBLE PDF DICTIONARY OF BIBLE PDF Read story dictionary of bible PDF? You will be glad to know that right now dictionary of bible PDF is available on our online library. With our online resources, you can find dictionary of bible or just about any type of ebooks, for any type of product. Index files are entirely free to find, use and download, so...»

«GRANITIC PEGMATITES: THE „ERNÝ – FOORD VOLUME PREFACE In late 1995, Alan Anderson used the Dalhousie University granite list server to announce an upcoming Geological Association of Canada – Mineralogical Association of Canada symposium on granitic pegmatites in honor of Petr „erný and Eugene Foord. Within days, his email box was crammed with messages from enthusiastic PIGs (i.e., members of the Pegmatite Interest Group) interested in contributing to the session. It was clear from the...»

«POLISH JOURNAL OF NATURAL SCIENCES Abbrev.: Pol. J. Natur. Sc., Vol 27(2): 151–164, Y. 2012 MICROALGAE – CULTIVATION METHODS* Marcin Dębowski, Marcin Zieliński, Mirosław Krzemieniewski, Magda Dudek, Anna Grala Department of Environmental Protection Engineering University of Warmia and Mazury in Olsztyn K e y w o r d s: microalgae, cultivation, open ponds, photobioreactors, dark systems. Abstract Investigations into the use of algae for energy production have been carried out for many...»

«Hee Jhee JIOW Australian Endeavour Award Visiting Fellow Singapore’s Cybercrime Regulation based on Lessig’s Modalities of Constraint Working paper No. 179 March 2015 The views presented in this paper are those of the author(s) and do not necessarily reflect those of the Asia Research Centre or Murdoch University. Working papers are considered draft publications for critical comments by colleagues and will generally be expected to be published elsewhere in a more polished form after a...»

«HEALTHY WORK ENVIRONMENTS: STRIVING FOR EXCELLENCE Volume II INSIGHTS FROM A KEY INFORMANT SURVEY ON NURSING WORK ENVIRONMENT IMPROVEMENT AND INNOVATION Prepared By McManis & Monsalve Associates In Partnership With May 2003 © 2003 McManis & Monsalve Associates McManis & Monsalve Associates AONE 7518-20 Diplomat Drive, Suite 201 325 Seventh Street, NW Manassas, Virginia 20109 Washington, DC 20004 www. mcmanis-monsalve.com www.aone.org Healthy Work Environments: Striving for Excellence May 2003...»

«Volume 19, Number 1, March 2013 Copyright © 2013 Society for Music Theory Review of Steve Larson, Musical Forces: Motion, Metaphor, and Meaning in Music (Bloomington: Indiana University Press, 2012) Arnie Cox KEYWORDS: metaphor, musical motion, embodiment, musical meaning, Larson, musical forces Received December 2012 [1] Some fifteen years ago there was a flourish of interest among music theorists in the work of Mark Johnson on metaphor and embodied reasoning (Johnson 1987), and applications...»

«ARCHAEOLOGY IN MINNESOTA: 2006 Project Report Summaries Bruce Koenen, Research Archaeologist Office of the State Archaeologist, St. Paul February 2008 ARCHAEOLOGY IN MINNESOTA: 2006 Project Report Summaries Bruce Koenen, Research Archaeologist Office of the State Archaeologist, St. Paul February 2008 Cover image: Blackduck Vessel from site 21KC0003 CONTENTS County Page Anoka Beltrami Benton Blue Earth Brown Carlton Carver. Cass Chippewa Chisago Clay Crow Wing Dakota Dodge Douglas Faribault...»

«ISSN-L: 2223-9553, ISSN: 2223-9944 Academic Research International Vol. 2, No. 3, May 2012 THE NEED FOR MOODLE AS A LEARNING MANAGEMENT SYSTEM IN NIGERIAN UNIVERSITIES: DIGESTING UNIVERSITY UTARA MALAYSIA LEARNING ZONE AS A CASE STUDY Suleiman Alhaji Ahmad††††† Umar BawaChinade Abdu Muhammad Gambaki College of Education Azare College of Education Azare College of Education Azare NIGERIA NIGERIA NIGERIA Shehu Ibrahim Nasiru Ahmed Ala College of Education Azare College of Education...»





 
<<  HOME   |    CONTACTS
2016 www.book.xlibx.info - Free e-library - Books, abstracts, thesis

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.