Common use of Termination of a Material Definitive Agreement Clause in Contracts

Termination of a Material Definitive Agreement. All parties (provided that the Trustee shall only be a responsible party if it is also the Paying Agent of the Trust Fund)." Item 1.03- Bankruptcy or Receivership Depositor Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Depositor Item 3.03- Material Modification to Rights of Security Holders Securities Administrator Item 5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year Depositor Item 6.01- ABS Informational and Computational Material Depositor Item 6.02- Change of Servicer or Securities Administrator Master Servicer (as to itself and as to any Servicer, to the extent provided by such Servicer), Securities Administrator, Seller Item 6.03- Change in Credit Enhancement or External Support Depositor Item 6.04- Failure to Make a Required Distribution Securities Administrator Item 6.05- Securities Act Updating Disclosure Depositor Item 7.01- Reg FD Disclosure Depositor Item 8.01 Depositor Item 9.01 Depositor ▇▇▇▇▇ Fargo Bank, N.A., as Securities Administrator ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn: Corporate Trust Services - SAIL 2006-BNC1 - SEC Report Processing RE: **Additional Form [10-D][10-K][8-K] Disclosure** Required Ladies and Gentlemen: In accordance with Section [ ] of the Trust Agreement, dated as of January 1, 2006, by and among Structured Asset Securities Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer, ▇▇▇▇▇▇▇ Fixed Income Services Inc., as Credit Risk Manager, U.S. Bank National Association, as Trustee and ▇▇▇▇▇ Fargo Bank, N.A., as Securities Administrator, the undersigned, as [ ], hereby notifies you that certain events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K]. Description of Additional Form [10-D][10-K][8-K] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY], as [role] By: Name: Title: [ ] [ ] [ ] Re: SAIL 2006-BNC1 [_______], the [_______] of [_______] (the “Company”) hereby certifies to the Depositor, the Master Servicer and the Securities Administrator, and each of their officers, directors and affiliates that:

Termination of a Material Definitive Agreement. All parties (provided that the Trustee shall only be a responsible party if it is also the Paying Agent of the Trust Fund)." ) Item 1.03- Bankruptcy or Receivership Depositor Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Depositor Item 3.03- Material Modification to Rights of Security Holders Securities Administrator Item 5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year Depositor Item 6.01- ABS Informational and Computational Material Depositor Item 6.02- Change of Servicer or Securities Administrator Master Servicer (as to itself and as to any Servicer, to the extent provided by such Servicer), Securities Administrator, Seller Item 6.03- Change in Credit Enhancement or External Support Depositor Item 6.04- Failure to Make a Required Distribution Securities Administrator Item 6.05- Securities Act Updating Disclosure Depositor Item 7.01- Reg FD Disclosure Depositor Item 8.01 Depositor Item 9.01 Depositor ▇▇▇▇▇ Fargo Bank, N.A., as Securities Administrator ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn: Corporate Trust Services - SAIL SARM 2006-BNC1 3 - SEC Report Processing RE: **Additional Form [10-D][10-K][8-K] Disclosure** Required Ladies and Gentlemen: In accordance with Section [ ] of the Trust Agreement, dated as of January March 1, 2006, by and among Structured Asset Securities Corporation, as Depositor, Aurora Loan Services LLC, as Master Servicer, ▇▇▇▇▇▇▇ Fixed Income Services Inc., as Credit Risk Manager, U.S. Bank National Association, as Trustee and ▇▇▇▇▇ Fargo Bank, N.A., as Securities Administrator, the undersigned, as [ ], hereby notifies you that certain events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K]. Description of Additional Form [10-D][10-K][8-K] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY], as [role] By: ____________________________ Name: Title: cc: Structured Asset Securities Corporation [ ] [ ] [ ] Re: SAIL SARM 2006-BNC1 3 [_______], the [_______] of [_______] (the “Company”) hereby certifies to the Depositor, the Master Servicer and the Securities Administrator, and each of their officers, directors and affiliates that: (1) I have reviewed [the servicer compliance statement of the Company provided in accordance with Item 1123 of Regulation AB (the “Compliance Statement”),] the report on assessment of the Company’s compliance with the Servicing Criteria set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance with Rules 13a-18 and 15d-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing Assessment”), the registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the “Attestation Report”), and all servicing reports, officer’s certificates and other information relating to the servicing of the Mortgage Loans by the Company during 200[ ] that were delivered by the Company to any of the Depositor, the Master Servicer and the Securities Administrator pursuant to the Agreement (collectively, the “Company Servicing Information”); (2) Based on my knowledge, the Company Servicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Company Servicing Information; (3) Based on my knowledge, all of the Company Servicing Information required to be provided by the Company under the Agreement has been provided to the Depositor, the Master Servicer and the Securities Administrator; (4) I am responsible for reviewing the activities performed by [_______] as [_______] under the [_______] (the “Agreement”), and based on my knowledge[and the compliance review conducted in preparing the Compliance Statement] and except as disclosed in [the Compliance Statement,] the Servicing Assessment or the Attestation Report, the Company has fulfilled its obligations under the Agreement in all material respects; and (5) [The Compliance Statement required to be delivered by the Company pursuant to the Agreement, and] [The] [the] Servicing Assessment and Attestation Report required to be provided by the Company and [by any Subservicer or Subcontractor] pursuant to the Agreement, have been provided to the Depositor, the Master Servicer and the Securities Administrator. Any material instances of noncompliance described in such reports have been disclosed to the Depositor, the Master Servicer and the Securities Administrator. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports.