Common use of Discount Factor Clause in Contracts

Discount Factor. Sub- Part Term Page No. ---- ---- -------- A. Discount Factor.............................. B-2 B. Earned Discount.............................. B-3 C. Negative Spread Fee.......................... B-3 D. Run Off Discount............................. B-3 E. Rate Definitions............................. B-4 Alternate Reference Rate................. B-4 Applicable Eurodollar Spread............. B-5 Bank Rate................................ B-5 Commercial Paper Rate.................... B-5 Domestic CD Rate......................... B-6 Assessment Rate.......................... B-6 Reserve Requirement...................... B-7 Eurodollar Rate (Reserve Adjusted)....... B-6 Purchaser Rate........................... B-6 F. Rate Variance Factor......................... B-7 113 PART II LOSS RESERVE; DILUTION RESERVE PART III SERVICER'S FEE RESERVE A. PART IV ADJUSTED AVERAGE MATURITY PART I DISCOUNT FACTOR

Discount Factor. Sub- Part Term Page NoPART TERM PAGE NO. ---- ---- -------- A. Discount Factor.............................. ................................................. B-2 B. Earned Discount.............................. B-3 ................................................. B-2 C. Negative Spread Fee.......................... ............................................. B-3 D. Run Off Discount............................. ................................................ B-3 E. Rate Definitions............................. ................................................ B-4 Alternate Reference Rate................. .................................. B-4 Applicable Eurodollar Spread............. B-5 Bank Rate................................ ................................................. B-5 Commercial Paper Rate.................... ..................................... B-5 Domestic CD Rate (Adjusted)............................... B-5 Domestic CD Rate......................... .......................................... B-6 Assessment Rate.......................... ........................................... B-6 Reserve Requirement...................... B-7 ....................................... B-6 Eurodollar Rate (Reserve Adjusted)....... B-6 ........................ B-8 Purchaser Rate........................... B-6 ............................................ B-9 F. Rate Variance Factor......................... B-7 113 PART II LOSS RESERVE; DILUTION RESERVE PART III SERVICER'S FEE RESERVE A. PART IV ADJUSTED AVERAGE MATURITY PART I DISCOUNT FACTOR............................................ B-10