Common use of Calculation of LIBOR Clause in Contracts

Calculation of LIBOR. LIBOR applicable to the calculation of the Pass-Through Rate on the Adjustable Rate Certificates for any Interest Accrual Period will be determined on each Interest Determination Date. On each Interest Determination Date, LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the rate for one month United States dollar deposits that appears on the Telerate Screen Page 3750 as of 11:00 a.m., London time, on such Interest Determination Date. "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service (or such other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks). If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Securities Administrator), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will be determined on the basis of the rates at which deposits in U.S. dollars are offered by the reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, selected by the Securities Administrator) as of 11:00 a.m., London time, on the Interest Determination Date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. The Securities Administrator will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two such quotations are provided, the rate will be the arithmetic mean of the quotations rounded up to the nearest whole multiple of 0.03125%. If on such date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Securities Administrator, as of 11:00 a.m., New York City time, on such date for loans in U.S. dollars to leading European banks for a period of one month in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. If no such quotations can be obtained, the rate will be LIBOR for the prior Distribution Date; provided, however, if, under the priorities described above, LIBOR for a Distribution Date would be based on LIBOR for the previous Distribution Date for the third consecutive Distribution Date, the Securities Administrator shall select an alternative comparable index (over which the Securities Administrator has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made available) by an independent party. The establishment of LIBOR by the Securities Administrator on any Interest Determination Date and the Securities Administrator's subsequent calculation of the Pass-Through Rate applicable to the Adjustable Rate Certificates for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. Promptly following each Interest Determination Date, the Securities Administrator shall supply the Master Servicer with the results of its determination of LIBOR on such date.

Calculation of LIBOR. LIBOR applicable to the calculation of the Pass-Through Rate on the Adjustable Rate Certificates for any Interest Accrual Period will be determined on each Interest Determination Date. On each Interest Determination Date, LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the rate for one month United States dollar deposits that appears on the Telerate Screen Page 3750 as of 11:00 a.m., London time, on such Interest Determination Date. "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service (or such other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks). If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Securities Administrator), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will be determined on the basis of the rates at which deposits in U.S. dollars are offered by the reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, selected by the Securities Administrator) as of 11:00 a.m., London time, on the Interest Determination Date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, Certificates then outstanding. The Securities Administrator will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two such quotations are provided, the rate will be the arithmetic mean of the quotations rounded up to the nearest whole multiple of 0.03125%. If on such date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Securities Administrator, as of 11:00 a.m., New York City time, on such date for loans in U.S. dollars to leading European banks for a period of one month in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, Certificates then outstanding. If no such quotations can be obtained, the rate will be LIBOR for the prior Distribution Date; provided, however, if, under the priorities described above, LIBOR for a Distribution Date would be based on LIBOR for the previous Distribution Date for the third consecutive Distribution Date, the Securities Administrator shall select an alternative comparable index (over which the Securities Administrator has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made available) by an independent party. The establishment of LIBOR by the Securities Administrator on any Interest Determination Date and the Securities Administrator's subsequent calculation of the Pass-Through Rate applicable to the Adjustable Rate Certificates for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. Promptly following each Interest Determination Date, the Securities Administrator shall supply the Master Servicer with the results of its determination of LIBOR on such date.

Calculation of LIBOR. LIBOR applicable to the calculation of the Pass-Through Rate on the Adjustable Rate Certificates for any Interest Accrual Period will be determined on each Interest Determination Date. On each Interest Determination Date, LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the rate for one month United States dollar deposits that appears on the Telerate Screen Page 3750 as of 11:00 a.m., London time, on such Interest Determination Date. "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service (or such other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks). If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Securities Administrator), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will be determined on the basis of the rates at which deposits in U.S. dollars are offered by the reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, selected by the Securities Administrator) as of 11:00 a.m., London time, on the Interest Determination Date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Current Principal Amount Amounts of the Adjustable Rate Certificates, then outstanding. The Securities Administrator will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two such quotations are provided, the rate will be the arithmetic mean of the quotations rounded up to the nearest whole multiple of 0.03125%. If on such date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Securities Administrator, as of 11:00 a.m., New York City time, on such date for loans in U.S. dollars to leading European banks for a period of one month in amounts approximately equal to the aggregate Current Principal Amount Amounts of the Adjustable Rate Certificates, then outstanding. If no such quotations can be obtained, the rate will be LIBOR for the prior Distribution Date; provided, however, if, under the priorities described above, LIBOR for a Distribution Date would be based on LIBOR for the previous Distribution Date for the third consecutive Distribution Date, the Securities Administrator shall select an alternative comparable index (over which the Securities Administrator has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made available) by an independent party. The establishment of LIBOR by the Securities Administrator on any Interest Determination Date and the Securities Administrator's subsequent calculation of the Pass-Through Rate applicable to the Adjustable Rate Certificates for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. Promptly following each Interest Determination Date, the Securities Administrator shall supply the Master Servicer with the results of its determination of LIBOR on such date.

Calculation of LIBOR. (a) With respect to the Floating Rate Classes, the initial value of LIBOR shall be 5.32% per annum. Such initial value of LIBOR shall be utilized in calculating (i) the respective Floating Rate II Swap Payments to be made under the various Swap Agreements in August 2007 and (ii) the respective Pass-Through Rates with respect to the Floating Rate Classes for the Distribution Date in August 2007. (b) The value of LIBOR applicable to the calculation of a Floating Rate II Swap Payment to be made on the applicable Swap Payment Date in any particular calendar month subsequent to August 2007, as well as the calculation of the Pass-Through Rate with respect to each Floating Rate Class for the Distribution Date in such calendar month (provided that no related Floating Rate Distribution Conversion is then in effect), shall be determined by the Trustee (and promptly reported to the related Swap Counterparty) on the Adjustable Rate Certificates for any Interest Accrual Period will be determined on each Interest related LIBOR Determination Date. On each Interest Determination Date, Date in the preceding calendar month in accordance with the following methodology: LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the rate for deposits in U.S. Dollars, for a period equal to one month United States dollar deposits that month, which appears on the Telerate Reuters Screen LIBOR01 Page 3750 as of 11:00 a.m., London time, on such Interest the applicable LIBOR Determination Date. "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service (or such other page as may replace page 3750 on If that service for the purpose of displaying London interbank offered rates of major banks). If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offeredReuters Screen LIBOR01 Page, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Securities Administrator), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will be determined on the basis of the rates at which deposits in U.S. dollars Dollars are offered by the any five major reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, market selected by the Securities Administrator) as Trustee to provide that bank's offered quotation of such rates at approximately 11:00 a.m., London time, on the Interest applicable LIBOR Determination Date to prime banks in the London interbank market for a period of one month month, commencing on the first Distribution Date following the applicable LIBOR Determination Date and in amounts approximately equal to an amount that is representative for a single such transaction in the aggregate Current Principal Amount of relevant market at the Adjustable Rate Certificates, then outstandingrelevant time. The Securities Administrator will Trustee shall request the principal London office of each of the any five major reference banks in the London interbank market selected by the Trustee to provide a quotation of its ratethose rates, as offered by each such bank. If at least two such quotations are provided, the rate LIBOR will be the arithmetic mean of the quotations rounded up to the nearest whole multiple of 0.03125%quotations. If on such date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Securities Administrator, as of 11:00 a.m., New York City time, on such date for loans in U.S. dollars to leading European banks for a period of one month in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. If no such quotations can be obtained, the rate will be LIBOR for the prior Distribution Date; provided, however, if, under the priorities described above, LIBOR for a Distribution Date would be based on LIBOR for the previous Distribution Date for the third consecutive Distribution Date, the Securities Administrator shall select an alternative comparable index (over which the Securities Administrator has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made available) by an independent party. The establishment of LIBOR by the Securities Administrator on any Interest Determination Date and the Securities Administrator's subsequent calculation of the Pass-Through Rate applicable to the Adjustable Rate Certificates for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. Promptly following each Interest Determination Date, the Securities Administrator shall supply the Master Servicer with the results of its determination of LIBOR on such date.will

Calculation of LIBOR. (a) With respect to each Class of Floating Rate Certificates, the initial value of LIBOR shall be 5.32% per annum. Such value of LIBOR shall be utilized in calculating (i) the subject Floating Rate II Swap Payment to be made on the related Swap Payment Date in August 2007 and (ii) the Pass-Through Rate with respect to each Class of Floating Rate Certificates for the Distribution Date in August 2007. (b) With respect to any Floating Rate Class, the value of LIBOR applicable to the calculation of a Floating Rate II Swap Payment to be made on the related Swap Payment Date in any particular calendar month subsequent to August 2007, as well as the calculation of the Pass-Through Rate with respect to such Floating Rate Class for the Distribution Date in such calendar month (provided that no related Floating Rate Class Distribution Conversion is then in effect), shall be determined by the Certificate Administrator (and promptly reported to the related Swap Counterparty) on the Adjustable Rate Certificates for any Interest Accrual Period will be determined on each Interest related LIBOR Determination Date. On each Interest Determination Date, Date in the preceding calendar month in accordance with the following methodology: LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the rate for deposits in U.S. Dollars, for a period equal to one month United States dollar deposits that month, which appears on the Telerate Reuters Screen LIBOR01 Page 3750 as of 11:00 a.m., London time, on such Interest the applicable LIBOR Determination Date. "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service (or such other page as may replace page 3750 on If that service for the purpose of displaying London interbank offered rates of major banks). If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offeredReuters Screen LIBOR01 Page, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Securities Administrator), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will be determined on the basis of the rates at which deposits in U.S. dollars Dollars are offered by the any five major reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, market selected by the Securities Administrator) as Certificate Administrator to provide that bank's offered quotation of such rates at approximately 11:00 a.m., London time, on the Interest applicable LIBOR Determination Date to prime banks in the London interbank market for a period of one month month, commencing on the first Distribution Date following the applicable LIBOR Determination Date and in amounts approximately equal to an amount that is representative for a single such transaction in the aggregate Current Principal Amount of relevant market at the Adjustable Rate Certificates, then outstandingrelevant time. The Securities Certificate Administrator will shall request the principal London office of each of the any five major reference banks in the London interbank market selected by the Certificate Administrator to provide a quotation of its ratethose rates, as offered by each such bank. If at least two such quotations are provided, the rate LIBOR will be the arithmetic mean of the quotations rounded up to the nearest whole multiple of 0.03125%quotations. If on such date fewer than two quotations are provided as requested, the rate LIBOR will be the arithmetic mean of the rates quoted by one or more major banks in New York City, City selected by the Securities Certificate Administrator, as of at approximately 11:00 a.m., New York City time, on such date the applicable LIBOR Determination Date for loans in U.S. dollars Dollars to leading European banks for a period of one month in amounts approximately equal to one month, commencing on the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. If no such quotations can be obtained, the rate will be applicable LIBOR for the prior Distribution Date; provided, however, if, under the priorities described above, LIBOR for a Distribution Date would be based on LIBOR for the previous Distribution Date for the third consecutive Distribution Date, the Securities Administrator shall select an alternative comparable index (over which the Securities Administrator has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made available) by an independent party. The establishment of LIBOR by the Securities Administrator on any Interest Determination Date and the Securities Administrator's subsequent calculation of the Pass-Through Rate applicable to the Adjustable Rate Certificates in an amount that is representative for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. Promptly following each Interest Determination Date, the Securities Administrator shall supply the Master Servicer with the results of its determination of LIBOR on such date.a

Calculation of LIBOR. LIBOR applicable to Until the calculation Certificate Principal Balance of the Pass-Through Rate on each of the Adjustable Rate Certificates has been reduced to zero, LIBOR for the initial Interest Accrual Period shall be 2.10% with respect to the Class IA-3 and Class IA-4 Certificates and 1.91% with respect to the Class IVA-3 and Class IVA-4 Certificates, and for any Interest Accrual Period will be determined thereafter, the Trustee or the Certificate Administrator, if any, shall establish LIBOR on each Interest LIBOR Determination Date. On each Interest Date as follows: (a) If on such LIBOR Determination Date, LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the Date a rate for one month United States dollar deposits that for one month appears on the Dow ▇▇▇▇▇ Telerate Screen Page 3750 System, page 3750, LIBOR for the next Interest Accrual Period shall be equal to such rate as of 11:00 a.m., London time, on such Interest Determination Date. "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service ; (or such other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks). b) If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Securities Trustee or the Certificate Administrator, if any, after consultation with the Servicer), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will shall be determined as follows: (i) The Trustee on the basis LIBOR Determination Date will request the principal London offices of the rates at which deposits in U.S. dollars are offered by the each of four major reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, as selected by the Securities Administrator) as of 11:00 a.m.Trustee, London timeto provide the Trustee with its offered quotation for deposits in United States dollars for the upcoming one-month period, commencing on the Interest second LIBOR Business Day immediately following such LIBOR Determination Date Date, to prime 145 banks in the London interbank market at approximately 11:00 a.m. London time on such LIBOR Determination Date and in a principal amount that is representative for a period of one month single transaction in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. The Securities Administrator will request the principal London office of each of the reference banks to provide a quotation of its rateUnited States dollars in such market at such time. If at least two such quotations are provided, the rate LIBOR determined on such LIBOR Determination Date will be the arithmetic mean of the quotations rounded up to the nearest whole multiple of 0.03125%. such quotations. (ii) If on such date fewer than two quotations are provided as requestedprovided, the rate LIBOR determined on such LIBOR Determination Date will be the arithmetic mean of the rates quoted at approximately 11:00 a.m. in New York City on such LIBOR Determination Date by one or more three major banks in New York City, City selected by the Securities Administrator, as of 11:00 a.m., New York City time, on such date Trustee for one-month United States dollar loans in U.S. dollars to leading European banks banks, in a principal amount that is representative for a period of one month single transaction in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. If no United States dollars in such quotations can be obtained, the rate will be LIBOR for the prior Distribution Datemarket at such time; provided, however, if, under that if the priorities described abovebanks so selected by the Trustee are not quoting as mentioned in this sentence, LIBOR for a Distribution determined on such LIBOR Determination Date would will continue to be based LIBOR as then currently in effect on such LIBOR for the previous Distribution Date for the third consecutive Distribution Determination Date, the Securities Administrator shall select an alternative comparable index . (over which the Securities Administrator has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made availablec) by an independent party. The establishment of LIBOR on each LIBOR Determination Date by the Securities Administrator on any Interest Determination Date Trustee or the Certificate Administrator, if any, and the Securities Trustee's or Certificate Administrator's subsequent calculation of the Pass-Through Rate rate of interest applicable to the Adjustable Rate Certificates for the relevant related Interest Accrual Period, Period shall (in the absence of manifest error, will ) be final and binding. Promptly following each Interest Determination Date, the Securities Administrator shall supply the Master Servicer with the results of its determination of LIBOR on such date.

Calculation of LIBOR. LIBOR applicable to Until the calculation Certificate Principal Balance of the Pass-Through Rate on each of the Adjustable Rate Certificates has been reduced to zero, LIBOR for the initial Interest Accrual Period shall be 2.10% with respect to the Class IA-3 and Class IA-4 Certificates and 1.91% with respect to the Class IVA-3 and Class IVA-4 Certificates, and for any Interest Accrual Period will be determined thereafter, the Trustee or the Certificate Administrator, if any, shall establish LIBOR on each Interest LIBOR Determination Date. On each Interest Date as follows: (a) If on such LIBOR Determination Date, LIBOR shall be established by the Securities Administrator and, as to any Interest Accrual Period, will equal the Date a rate for one month United States dollar deposits that for one month appears on the Dow Jones Telerate Screen Page 3750 System, page 3750, LIBOR for the next Interest A▇▇▇▇▇l Period shall be equal to such rate as of 11:00 a.m., London time, on such Interest Determination Date. "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service ; (or such other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks). b) If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, LIBOR shall be so established by use of such other service for displaying LIBOR or comparable rates as may be reasonably selected by the Securities Trustee or the Certificate Administrator, if any, after consultation with the Servicer), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will shall be determined as follows: (i) The Trustee on the basis LIBOR Determination Date will request the principal London offices of the rates at which deposits in U.S. dollars are offered by the each of four major reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, as selected by the Securities Administrator) as of 11:00 a.m.Trustee, London timeto provide the Trustee with its offered quotation for deposits in United States dollars for the upcoming one-month period, commencing on the Interest second LIBOR Business Day immediately following such LIBOR Determination Date Date, to prime banks in the London interbank market at approximately 11:00 a.m. London time on such LIBOR Determination Date and in a principal amount that is representative for a period of one month single transaction in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. The Securities Administrator will request the principal London office of each of the reference banks to provide a quotation of its rateUnited States dollars in such market at such time. If at least two such quotations are provided, the rate LIBOR determined on such LIBOR Determination Date will be the arithmetic mean of the quotations rounded up to the nearest whole multiple of 0.03125%. such quotations. (ii) If on such date fewer than two quotations are provided as requestedprovided, the rate LIBOR determined on such LIBOR Determination Date will be the arithmetic mean of the rates quoted at approximately 11:00 a.m. in New York City on such LIBOR Determination Date by one or more three major banks in New York City, City selected by the Securities Administrator, as of 11:00 a.m., New York City time, on such date Trustee for one-month United States dollar loans in U.S. dollars to leading European banks banks, in a principal amount that is representative for a period of one month single transaction in amounts approximately equal to the aggregate Current Principal Amount of the Adjustable Rate Certificates, then outstanding. If no United States dollars in such quotations can be obtained, the rate will be LIBOR for the prior Distribution Datemarket at such time; provided, however, if, under that if the priorities described abovebanks so selected by the Trustee are not quoting as mentioned in this sentence, LIBOR for a Distribution determined on such LIBOR Determination Date would will continue to be based LIBOR as then currently in effect on such LIBOR for the previous Distribution Date for the third consecutive Distribution Determination Date, the Securities Administrator shall select an alternative comparable index . (over which the Securities Administrator has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made availablec) by an independent party. The establishment of LIBOR on each LIBOR Determination Date by the Securities Administrator on any Interest Determination Date Trustee or the Certificate Administrator, if any, and the Securities Trustee's or Certificate Administrator's subsequent calculation of the Pass-Through Rate rate of interest applicable to the Adjustable Rate Certificates for the relevant related Interest Accrual Period, Period shall (in the absence of manifest error, will ) be final and binding. Promptly following each Interest Determination Date, the Securities Administrator shall supply the Master Servicer with the results of its determination of LIBOR on such date.