Common use of Calculation of LIBOR Clause in Contracts

Calculation of LIBOR. (a) With respect to each Distribution Date, one-month LIBOR will equal the interbank offered rate for one-month United States dollar deposits in the London market as quoted on Telerate Page 3750 as of 11:00 A.M., London time, on the second London Business Day prior to the first day of the related Accrual Period. "Telerate Page 3750" means the display designated as page 3750 on the Moneyline Telerate and after December 31, 2006, the display designated as Reuters LIBOR01 on Reuters, or any other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks. If the rate does not appear on the page or any other page as may replace that page on that service (or if that service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Securities Administrator after consultation with the Depositor), the rate will be the reference bank rate.