Common use of Ratings Downgrade Clause in Contracts

Ratings Downgrade. (a) If BSFP fails to satisfy the Required Ratings (a “Ratings Event”), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s obligations under this Transaction; or (iii) take any other action that satisfies the Rating Agency Condition; providedthat the failure by BSFP to take any action specified in (i)-(iv) above on or prior to the 30th calendar day after such Ratings Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. (b) If BSFP fails to satisfy the Replacement Ratings (a “Replacement Event”), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either: (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s obligations under this Transaction; or (iii) take any other action that satisfies the Rating Agency Condition; Reference Number: FXNEC9564 U.S. Bank National Association, not individually, but solely as trustee on behalf of Citicorp Mortgage Securities Trust, Series 2007-4 May 29, 2007 Page of 12 of 18 providedthat the failure by BSFP to take any action specified in (i)-(iii) above on or prior to the 10th Local Business Days after such Replacement Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. As used herein,

Ratings Downgrade. (a) If BSFP fails to satisfy the Required Ratings (a “Ratings Event”"RATINGS EVENT"), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) deliver collateral, and an executed ISDA Credit Support Annex; (iii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s 's obligations under this Transaction; or (iiiiv) take any other action that satisfies the Rating Agency Condition; providedthat provided that the failure by BSFP to take any action specified in (i)-(iv) above on or prior to the 30th calendar day after the occurrence of such Ratings Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. (b) If BSFP fails to satisfy the Replacement Ratings (a “Replacement Event”"REPLACEMENT EVENT"), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either: (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s 's obligations under this Transaction; or (iii) take any other action that satisfies the Rating Agency Condition; Reference Number: FXNEC9564 U.S. Bank National Association, not individually, but solely as trustee on behalf of Citicorp Mortgage Securities Trust, Series 2007-4 May 29, 2007 Page of 12 of 18 providedthat provided that the failure by BSFP to take any action specified in (i)-(iii) above on or prior to the 10th Local Business Days Day after the occurrence of such Replacement Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. As used herein,

Ratings Downgrade. (a) If BSFP fails to satisfy the Required Ratings (a “Ratings Event”), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s obligations under this Transaction; or (iii) take any other action that satisfies the Rating Agency Condition; providedthat provided that the failure by BSFP to take any action specified in (i)-(iv) above on or prior to the 30th calendar day after such Ratings Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. (b) If BSFP fails to satisfy the Replacement Ratings (a “Replacement Event”), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either: (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s obligations under this Transaction; or (iii) take any other action that satisfies the Rating Agency Condition; Reference Number: FXNEC9564 FXNEC9118 U.S. Bank National Association, not individually, but solely as trustee on behalf of Citicorp Mortgage Securities Trust, Series 2007-4 May 291 January 30, 2007 Page of 12 of 18 providedthat provided that the failure by BSFP to take any action specified in (i)-(iii) above on or prior to the 10th Local Business Days after such Replacement Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. As used herein,

Ratings Downgrade. (a) If BSFP fails to satisfy the Required Ratings (a “Ratings Event”), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s obligations under this Transaction; or (iii) take any other action that satisfies the Rating Agency Condition; providedthat the failure by BSFP to take any action specified in (i)-(iv) above on or prior to the 30th calendar day after such Ratings Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. (b) If BSFP fails to satisfy the Replacement Ratings (a “Replacement Event”), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either: (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s obligations under this Transaction; or (iii) take any other action that satisfies the Rating Agency Condition; Reference Number: FXNEC9564 FXNEC9540 U.S. Bank National Association, not individually, but solely as trustee on behalf of Citicorp Mortgage Securities CMALT (CitiMortgage Alternative Loan Trust), Series 2007-4 A5 May 2930, 2007 Page of 12 of 18 providedthat the failure by BSFP to take any action specified in (i)-(iii) above on or prior to the 10th Local Business Days after such Replacement Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. As used herein,

Ratings Downgrade. (a) If BSFP fails to satisfy the Required Ratings (a “Ratings Event”"RATINGS EVENT"), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) deliver collateral, and an executed ISDA Credit Support Annex; (iii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s 's obligations under this Transaction; or (iiiiv) take any other action that satisfies the Rating Agency Condition; providedthat provided that the failure by BSFP to take any action specified in (i)-(iv) above on or prior to the 30th calendar day after the occurrence of such Ratings Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. (b) If BSFP fails to satisfy the Replacement Ratings (a “Replacement Event”"REPLACEMENT EVENT"), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either: (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s 's obligations under this Transaction; oror Reference Number: FXNEC8829 LaSalle Bank National Association, as Trustee for OwnIt Mortgage Loan Trust, Series 2006-7 November 3, 2006 Page 11 of 16 (iii) take any other action that satisfies the Rating Agency Condition; Reference Number: FXNEC9564 U.S. Bank National Association, not individually, but solely as trustee on behalf of Citicorp Mortgage Securities Trust, Series 2007-4 May 29, 2007 Page of 12 of 18 providedthat provided that the failure by BSFP to take any action specified in (i)-(iii) above on or prior to the 10th Local Business Days Day after the occurrence of such Replacement Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. As used herein,