Document:

efc7-1938_ex997.htm

     

    Exhibit
      10.7

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Class
      A-1-B Swap ISDA Master Agreement

    (Multicurrency—Cross
      Border)

     

    ISDA®

     

    International
      Swap Dealers Association, Inc.

     

    MASTER
      AGREEMENT

     

    dated
      as
      of June 29, 2007

     

    among

     

    
      	
              BNP
                PARIBAS

            	
              and

            	
              THE
                BANK OF NEW YORK, not in its individual or corporate capacity but
                solely
                as Swap Contract Administrator for Alternative Loan Trust
                2007-OH2

            
	
              (Party
                A)

            	 	
              (Party
                B)

            

    

    have
      entered and/or anticipate entering into one or more transactions (each a
“Transaction”) that are or will be governed by this Master Agreement, which
      includes the schedule (the “Schedule”), and the documents and other confirming
      evidence (each a “Confirmation”) exchanged between the parties confirming those
      Transactions.

     

    Accordingly,
      the parties agree as follows: —

     

    1.           Interpretation

     

    (a)           Definitions.  The
      terms defined in Section 14 and in the Schedule will have the meanings therein
      specified for the purpose of this Master Agreement.

     

    (b)           Inconsistency.  In
      the event of any inconsistency between the provisions of the Schedule and the
      other provisions of this Master Agreement, the Schedule will prevail. In the
      event of any inconsistency between the provisions of any Confirmation and this
      Master Agreement (including the Schedule), such Confirmation will prevail for
      the purpose of the relevant Transaction.

     

    (c)           Single
      Agreement.  All Transactions are entered into in
      reliance on the fact that this Master Agreement and all Confirmations form
      a
      single agreement between the parties (collectively referred to as this
“Agreement”), and the parties would not otherwise enter into any
      Transactions.

     

    2.           Obligations

     

    (a)           General
      Conditions.

     

    (i)           Each
      party will make each payment or delivery specified in each Confirmation to
      be
      made by it, subject to the other provisions of this Agreement.

    
       

    

    (ii)           Payments
      under this Agreement will be made on the due date for value on that date in
      the
      place of the account specified in the relevant Confirmation or otherwise
      pursuant to this Agreement, in freely transferable funds and in the manner
      customary for payments in the required currency. Where settlement is by delivery
      (that is, other than by payment), such delivery will be made for receipt on
      the
      due date in the manner customary for the relevant obligation unless otherwise
      specified in the relevant Confirmation or elsewhere in this
      Agreement.

     

    (iii)          Each
      obligation of each party under Section 2(a)(i) is subject to (1) the condition
      precedent that no Event of Default or Potential Event of Default with respect
      to
      the other party has occurred and is continuing, (2) the condition precedent
      that
      no Early Termination Date in respect of the relevant Transaction has occurred
      or
      been effectively designated and (3) each other applicable condition precedent
      specified in this Agreement.

     

     

     

    Copyright
©
1992
      by International Swap Dealers
      Association, Inc. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      (b)   Change of Account. Either party may change its account for receiving a
payment or delivery by giving notice to the other party at least five Local
Business Days prior to the scheduled date for the payment or delivery to which
such change applies unless such other party gives timely notice of a
reasonable objection to such change.

(c)   Netting. If on any date amounts would otherwise be payable: --

      (i) in the same currency; and

      (ii) in respect of the same Transaction,

by each party to the other, then, on such date, each party's obligation to
make payment of any such amount will be automatically satisfied and discharged
and, if the aggregate amount that would otherwise have been payable by one
party exceeds the aggregate amount that would otherwise have been payable by
the other party, replaced by an obligation upon the party by whom the larger
aggregate amount would have been payable to pay to the other party the excess
of the larger aggregate amount over the smaller aggregate amount.

The parties may elect in respect of two or more Transactions that a net amount
will be determined in respect of all amounts payable on the same date in the
same currency in respect of such Transactions, regardless of whether such
amounts are payable in respect of the same Transaction. The election may be
made in the Schedule or a Confirmation by specifying that subparagraph (ii)
above will not apply to the Transactions identified as being subject to the
election, together with the starting date (in which case subparagraph (ii)
above will not, or will cease to, apply to such Transactions from such date).
This election may be made separately for different groups of Transactions and
will apply separately to each pairing of Offices through which the parties
make and receive payments or deliveries.

(d)   Deduction or Withholding for Tax.

      (i) Gross-Up. All payments under this Agreement will be made without any
      deduction or withholding for or on account of any Tax unless such
      deduction or withholding is required by any applicable law, as modified
      by the practice of any relevant governmental revenue authority, then in
      effect. If a party is so required to deduct or withhold, then that party
      ("X") will: --

            (1)   promptly notify the other party ("Y") of such requirement;

            (2)   pay to the relevant authorities the full amount required to
            be deducted or withheld (including the full amount required to be
            deducted or withheld from any additional amount paid by X to Y
            under this Section 2(d)) promptly upon the earlier of determining
            that such deduction or withholding is required or receiving notice
            that such amount has been assessed against Y;

            (3)   promptly forward to Y an official receipt (or a certified
            copy), or other documentation reasonably acceptable to Y,
            evidencing such payment to such authorities; and

            (4)   if such Tax is an Indemnifiable Tax, pay to Y, in addition to
            the payment to which Y is otherwise entitled under this Agreement,
            such additional amount as is necessary to ensure that the net
            amount actually received by Y (free and clear of Indemnifiable
            Taxes, whether assessed against X or Y) will equal the Full amount
            Y would have received had no such deduction or withholding been
            required. However, X will not be required to pay any additional
            amount to Y to the extent that it would not be required to be paid
            but for: --

                  (A) the failure by Y to comply with or perform any agreement
                  contained in Section 4(a)(i), 4(a)(iii) or 4(d); or

                  (B) the failure of a representation made by Y pursuant to
                  Section 3(f) to be accurate and true unless such failure
                  would not have occurred but for (I) any action taken by a
                  taxing authority, or brought in a court of competent
                  jurisdiction, on or after the date on which a Transaction is
                  entered into (regardless of whether such action is taken or
                  brought with respect to a party to this Agreement) or (II) a
                  Change in Tax Law.

                                      2

      (ii)  Liability. If: --

            (1) X is required by any applicable law, as modified by the
            practice of any relevant governmental revenue authority, to make
            any deduction or withholding in respect of which X would not be
            required to pay an additional amount to Y under Section
            2(d)(i)(4);

            (2) X does not so deduct or withhold; and

            (3) a liability resulting from such Tax is assessed directly
            against X,

      then, except to the extent Y has satisfied or then satisfies the
      liability resulting from such Tax, Y will promptly pay to X the amount
      of such liability (including any related liability for interest, but
      including any related liability for penalties only if Y has failed to
      comply with or perform any agreement contained in Section 4(a)(i),
      4(a)(iii) or 4(d)).

(e) Default Interest; Other Amounts. Prior to the occurrence or effective
designation of an Early Termination Date in respect of the relevant
Transaction, a party that defaults in the performance of any payment
obligation will, to the extent permitted by law and subject to Section 6(c),
be required to pay interest (before as well as after judgment) on the overdue
amount to the other party on demand in the same currency as such overdue
amount, for the period from (and including) the original due date for payment
to (but excluding) the date of actual payment, at the Default Rate. Such
interest will be calculated on the basis of daily compounding and the actual
number of days elapsed. If, prior to the occurrence or effective designation
of an Early Termination Date in respect of the relevant Transaction, a party
defaults in the performance of any obligation required to be settled by
delivery, it will compensate the other party on demand if and to the extent
provided for in the relevant Confirmation or elsewhere in this Agreement.

3.    Representations

Each party represents to the other party (which representations will be deemed
to be repeated by each party on each date on which a Transaction is entered
into and, in the case of the representations in Section 3(f), at all times
until the termination of this Agreement) that: --

(a)   Basic Representations.

      (i)   Status. It is duly organised and validly existing under the laws
      of the jurisdiction of its organisation or incorporation and, if relevant
      under such laws, in good standing;

      (ii)  Powers. It has the power to execute this Agreement and any other
      documentation relating to this Agreement to which it is a party, to
      deliver this Agreement and any other documentation relating to this
      Agreement that it is required by this Agreement to deliver and to
      perform its obligations under this Agreement and any obligations it has
      under any Credit Support Document to which it is a party and has taken
      all necessary action to authorise such execution, delivery and
      performance;

      (iii) No Violation or Conflict. Such execution, delivery and performance
      do not violate or conflict with any law applicable to it, any provision
      of its constitutional documents, any order or judgment of any court or
      other agency of government applicable to it or any of its assets or any
      contractual restriction binding on or affecting it or any of its assets;

      (iv)  Consents. All governmental and other consents that are required to
      have been obtained by it with respect to this Agreement or any Credit
      Support Document to which it is a party have been obtained and are in
      full force and effect and all conditions of any such consents have been
      complied with; and

      (v)   Obligations Binding. Its obligations under this Agreement and any
      Credit Support Document to which it is a party constitute its legal,
      valid and binding obligations, enforceable in accordance with their
      respective terms (subject to applicable bankruptcy, reorganisation,
      insolvency, moratorium or similar laws affecting creditors' rights
      generally and subject, as to enforceability, to equitable principles of
      general application (regardless of whether enforcement is sought in a
      proceeding in equity or at law)).

                                      3

(b) Absence of Certain Events. No Event of Default or Potential Event of
Default or, to its knowledge, Termination Event with respect to it has
occurred and is continuing and no such event or circumstance would occur as a
result of its entering into or perforating its obligations under this
Agreement or any Credit Support Document to which it is a party.

(c) Absence of Litigation. There is not pending or, to its knowledge,
threatened against it or any of its Affiliates any action, suit or proceeding
at law or in equity or before any court, tribunal, governmental body, agency
or official or any arbitrator that is likely to affect the legality, validity
or enforceability against it of this Agreement or any Credit Support Document
to which it is a party or its ability to perform its obligations under this
Agreement or such Credit Support Document.

(d) Accuracy of Specified Information. All applicable information that is
furnished in writing by or on behalf of it to the other party and is
identified for the purpose of this Section 3(d) in the Schedule is, as of the
date of the information, true, accurate and complete in every material
respect.

(e) Payer Tax Representation. Each representation specified in the Schedule as
being made by it for the purpose of this Section 3(e) is accurate and true.

(f) Payee Tax Representations. Each representation specified in the Schedule
as being made by it for the purpose of this Section 3(f) is accurate and true.

4.    Agreements

Each party agrees with the other that, so long as either party has or may have
any obligation under this Agreement or under any Credit Support Document to
which it is a party: --

(a)   Furnish Specified Information. It will deliver to the other party or, in
certain cases under subparagraph (iii) below, to such government or taxing
authority as the other party reasonably directs: --

      (i) any forms, documents or certificates relating to taxation specified
      in the Schedule or any Confirmation;

      (ii) any other documents specified in the Schedule or any Confirmation;
      and

      (iii) upon reasonable demand by such other party, any form or document
      that may be required or reasonably requested in writing in order to
      allow such other party or its Credit Support Provider to make a payment
      under this Agreement or any applicable Credit Support Document without
      any deduction or withholding for or on account of any Tax or with such
      deduction or withholding at a reduced rate (so long as the completion,
      execution or submission of such form or document would not materially
      prejudice the legal or commercial position of the party in receipt of
      such demand), with any such form or document to be accurate and
      completed in a manner reasonably satisfactory to such other party and to
      be executed and to be delivered with any reasonably required
      certification,

in each case by the date specified in the Schedule or such Confirmation or, if
none is specified, as soon as reasonably practicable.

(b) Maintain Authorisations. It will use all reasonable efforts to maintain in
full force and effect all consents of any governmental or other authority that
are required to be obtained by it with respect to this Agreement or any Credit
Support Document to which it is a party and will use all reasonable efforts to
obtain any that may become necessary in the future.

(c)   Comply with Laws. It will comply in all material respects with all
applicable laws and orders to which it may be subject if failure so to comply
would materially impair its ability to perform its obligations under this
Agreement or any Credit Support Document to which it is a party.

(d)   Tax Agreement. It will give notice of any failure of a representation
made by it under Section 3(f) to be accurate and true promptly upon learning
of such failure.

(e)   Payment of Stamp Tax. Subject to Section 11, it will pay any Stamp Tax
levied or imposed upon it or in respect of its execution or performance of
this Agreement by a jurisdiction in which it is incorporated,

                                      4

organised, managed and controlled, or considered to have its seat, or in which
a branch or office through which it is acting for the purpose of this
Agreement is located ("Stamp Tax Jurisdiction") and will indemnify the other
party against any Stamp Tax levied or imposed upon the other party or in
respect of the other party's execution or performance of this Agreement by any
such Stamp Tax Jurisdiction which is not also a Stamp Tax Jurisdiction with
respect to the other party.

5.    Events of Default and Termination Events

(a)   Events of Default. The occurrence at any time with respect to a party or,
if applicable, any Credit Support Provider of such party or any Specified
Entity of such party of any of the following events constitutes an event of
default (an "Event of Default") with respect to such party: --

      (i)   Failure to Pay or Deliver. Failure by the party to make, when due,
      any payment under this Agreement or delivery under Section 2(a)(i) or
      2(e) required to be made by it if such failure is not remedied on or
      before the third Local Business Day after notice of such failure is
      given to the party;

      (ii)  Breach of Agreement. Failure by the party to comply with or perform
      any agreement or obligation (other than an obligation to make any
      payment under this Agreement or delivery under Section 2(a)(i) or 2(c)
      or to give notice of a Termination Event or any agreement or obligation
      under Section 4(a)(i), 4(a)(iii) or 4(d)) to be complied with or
      performed by the party in accordance with this Agreement if such failure
      is not remedied on or before the thirtieth day after notice of such
      failure is given to the party;

      (iii) Credit Support Default.

            (1)   Failure by the party or any Credit Support Provider of such
            party to comply with or perform any agreement or obligation to be
            complied with or performed by it in accordance with any Credit
            Support Document if such failure is continuing after any
            applicable grace period has elapsed;

            (2)   the expiration or termination of such Credit Support Document
            or the failing or ceasing of such Credit Support Document to be in
            full force and effect for the purpose of this Agreement (in either
            case other than in accordance with its terms) prior to the
            satisfaction of all obligations of such party under each
            Transaction to which such Credit Support Document relates without
            the written consent of the other party; or

            (3)   the party or such Credit Support Provider disaffirms,
            disclaims, repudiates or rejects, in whole or in part, or
            challenges the validity of, such Credit Support Document;

      (iv)  Misrepresentation. A representation (other than a representation
      under Section 3(e) or (f)) made or repeated or deemed to have been made
      or repeated by the party or any Credit Support Provider of such party in
      this Agreement or any Credit Support Document proves to have been
      incorrect or misleading in any material respect when made or repeated or
      deemed to have been made or repeated;

      (v)   Default under Specified Transaction. The party, any Credit Support
      Provider of such party or any applicable Specified Entity of such party
      (1) defaults under a Specified Transaction and, after giving effect to
      any applicable notice requirement or grace period, there occurs a
      liquidation of, an acceleration of obligations under, or an early
      termination of, that Specified Transaction, (2) defaults, after giving
      effect to any applicable notice requirement or grace period, in making
      any payment or delivery due on the last payment, delivery or exchange
      date of, or any payment on early termination of, a Specified Transaction
      (or such default continues for at least three Local Business Days if
      there is no applicable notice requirement or grace period) or (3)
      disaffirms, disclaims, repudiates or rejects, in whole or in part, a
      Specified Transaction (or such action is taken by any person or entity
      appointed or empowered to operate it or act on its behalf);

      (vi)  Cross Default. If "Cross Default" is specified in the Schedule as
      applying to the party, the occurrence or existence of (1) a default,
      event of default or other similar condition or event (however

                                      5

      described) in respect of such party, any Credit Support Provider of such
      party or any applicable Specified Entity of such party under one or more
      agreements or instruments relating to Specified Indebtedness of any of
      them (individually or collectively) in an aggregate amount of not less
      than the applicable Threshold Amount (as specified in the Schedule)
      which has resulted in such Specified Indebtedness becoming, or becoming
      capable at such time of being declared, due and payable under such
      agreements or instruments, before it would otherwise have been due and
      payable or (2) a default by such party, such Credit Support Provider or
      such Specified Entity (individually or collectively) in making one or
      more payments on the due date thereof in an aggregate amount of not less
      than the applicable Threshold Amount under such agreements or
      instruments (after giving effect to any applicable notice requirement or
      grace period);

      (vii) Bankruptcy. The party, any Credit Support Provider of such party
      or any applicable Specified Entity of such party: --

            (1)   is dissolved (other than pursuant to a consolidation,
            amalgamation or merger); (2) becomes insolvent or is unable to pay
            its debts or fails or admits in writing its inability generally to
            pay its debts as they become due; (3) makes a general assignment,
            arrangement or composition with or for the benefit of its
            creditors; (4) institutes or has instituted against it a
            proceeding seeking a judgment of insolvency or bankruptcy or any
            other relief under any bankruptcy or insolvency law or other
            similar law affecting creditors' rights, or a petition is
            presented for its winding-up or liquidation, and, in the case of
            any such proceeding or petition instituted or presented against
            it, such proceeding or petition (A) results in a judgment of
            insolvency or bankruptcy or the entry of an order for relief or
            the making of an order for its winding-up or liquidation or (B) is
            not dismissed, discharged, stayed or restrained in each case
            within 30 days of the institution or presentation thereof, (5) has
            a resolution passed for its winding-up, official management or
            liquidation (other than pursuant to a consolidation, amalgamation
            or merger); (6) seeks or becomes subject to the appointment of an
            administrator, provisional liquidator, conservator, receiver,
            trustee, custodian or other similar official for it or for all or
            substantially all its assets; (7) has a secured party take
            possession of all or substantially all its assets or has a
            distress, execution, attachment, sequestration or other legal
            process levied, enforced or sued on or against all or
            substantially all its assets and such secured party maintains
            possession, or any such process is not dismissed, discharged,
            stayed or restrained, in each case within 30 days thereafter; (8)
            causes or is subject to any event with respect to it which, under
            the applicable laws of any jurisdiction, has an analogous effect
            to any of the events specified in clauses (1) to (7) (inclusive);
            or (9) takes any action in furtherance of, or indicating its
            consent to, approval of, or acquiescence in, any of the foregoing
            acts; or

      (viii) Merger Without Assumption. The party or any Credit Support
      Provider of such party consolidates or amalgamates with, or merges with
      or into, or transfers all or substantially all its assets to, another
      entity and, at the time of such consolidation, amalgamation, merger or
      transfer: --

            (1)   the resulting, surviving or transferee entity fails to assume
            all the obligations of such party or such Credit Support Provider
            under this Agreement or any Credit Support Document to which it or
            its predecessor was a party by operation of law or pursuant to an
            agreement reasonably satisfactory to the other party to this
            Agreement; or

            (2)   the benefits of any Credit Support Document fail to extend
            (without the consent of the other party) to the performance by
            such resulting, surviving or transferee entity of its obligations
            under this Agreement.

(b)   Termination Events. The occurrence at any time with respect to a party or,
if applicable, any Credit Support Provider of such party or any Specified
Entity of such party of any event specified below constitutes an Illegality if
the event is specified in (i) below, a Tax Event if the event is specified in
(ii) below or a Tax Event Upon Merger if the event is specified in (iii)
below, and, if specified to be applicable, a Credit Event

                                      6

Upon Merger if the event is specified pursuant to (iv) below or an Additional
Termination Event if the event is specified pursuant to (v) below: --

      (i)  Illegality. Due to the adoption of, or any change in, any applicable
      law after the date on which a Transaction is entered into, or due to the
      promulgation of, or any change in, the interpretation by any court,
      tribunal or regulatory authority with competent jurisdiction of any
      applicable law after such date, it becomes unlawful (other than as a
      result of a breach by the party of Section 4(b)) for such party (which
      will be the Affected Party): --

            (1)   to perform any absolute or contingent obligation to make a
            payment or delivery or to receive a payment or delivery in respect
            of such Transaction or to comply with any other material provision
            of this Agreement relating to such Transaction; or

            (2)   to perform, or for any Credit Support Provider of such party
            to perform, any contingent or other obligation which the party (or
            such Credit Support Provider) has under any Credit Support
            Document relating to such Transaction;

      (ii)  Tax Event. Due to (x) any action taken by a taxing authority, or
      brought in a court of competent jurisdiction, on or after the date on
      which a Transaction is entered into (regardless of whether such action
      is taken or brought with respect to a party to this Agreement) or (y) a
      Change in Tax Law, the party (which will be the Affected Party) will, or
      there is a substantial likelihood that it will, on the next succeeding
      Scheduled Payment Date (1) be required to pay to the other party an
      additional amount in respect of an Indemnifiable Tax under Section
      2(d)(i)(4) (except in respect of interest under Section 2(e), 6(d)(ii)
      or 6(e)) or (2) receive a payment from which an amount is required to be
      deducted or withheld for or on account of a Tax (except in respect of
      interest under Section 2(e), 6(d)(ii) or 6(e)) and no additional amount
      is required to be paid in respect of such Tax under Section 2(d)(i)(4)
      (other than by reason of Section 2(d)(i)(4)(A) or (B));

      (iii)  Tax Event Upon Merger. The party (the "Burdened Party") on the
      next succeeding Scheduled Payment Date will either (1) be required to
      pay an additional amount in respect of an Indemnifiable Tax under
      Section 2(d)(i)(4) (except in respect of interest under Section 2(e),
      6(d)(ii) or 6(e)) or (2) receive a payment from which an amount has been
      deducted or withheld for or on account of any Indemnifiable Tax in
      respect of which the other party is not required to pay an additional
      amount (other than by reason of Section 2(d)(i)(4)(A) or (B)), in either
      case as a result of a party consolidating or amalgamating with, or
      merging with or into, or transferring all or substantially all its
      assets to, another entity (which will be the Affected Party) where such
      action does not constitute an event described in Section 5(a)(viii);

      (iv) Credit Event Upon Merger. If "Credit Event Upon Merger" is
      specified in the Schedule as applying to the party, such party ("X"),
      any Credit Support Provider of X or any applicable Specified Entity of X
      consolidates or amalgamates with, or merges with or into, or transfers
      all or substantially all its assets to, another entity and such action
      does not constitute an event described in Section 5(a)(viii) but the
      creditworthiness of the resulting, surviving or transferee entity is
      materially weaker than that of X, such Credit Support Provider or such
      Specified Entity, as the case may be, immediately prior to such action
      (and, in such event, X or its successor or transferee, as appropriate,
      will be the Affected Party); or

      (v)   Additional Termination Event. If any "Additional Termination Event"
      is specified in the Schedule or any Confirmation as applying, the
      occurrence of such event (and, in such event, the Affected Party or
      Affected Parties shall be as specified for such Additional Termination
      Event in the Schedule or such Confirmation).

(c)   Event of Default and Illegality. If an event or circumstance which would
otherwise constitute or give rise to an Event of Default also constitutes an
Illegality, it will be treated as an Illegality and will not constitute an
Event of Default.

                                      7

6.    Early Termination

(a)   Right to Terminate Following Event of Default. If at any time an Event of
Default with respect to a party (the "Defaulting Party") has occurred and is
then continuing, the other party (the "Non-defaulting Party") may, by not more
than 20 days notice to the Defaulting Party specifying the relevant Event of
Default, designate a day not earlier than the day such notice is effective as
an Early Termination Date in respect of all outstanding Transactions. If,
however, "Automatic Early Termination" is specified in the Schedule as
applying to a party, then an Early Termination Date in respect of all
outstanding Transactions will occur immediately upon the occurrence with
respect to such party of an Event of Default specified in Section
5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as
of the time immediately preceding the institution of the relevant proceeding
or the presentation of the relevant petition upon the occurrence with respect
to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to
the extent analogous thereto, (8).

(b)   Right to Terminate Following Termination Event.

      (i)   Notice. If a Termination Event occurs, an Affected Party will,
      promptly upon becoming aware of it, notify the other party, specifying
      the nature of that Termination Event and each Affected Transaction and
      will also give such other information about that Termination Event as
      the other party may reasonably require.

      (ii)  Transfer to avoid Termination Event. If either an Illegality under
      Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected
      Party, or if a Tax Event Upon Merger occurs and the Burdened Party is
      the Affected Party, the Affected Party will, as a condition to its right
      to designate an Early Termination Date under Section 6(b)(iv), use all
      reasonable efforts (which will not require such party to incur a loss,
      excluding immaterial, incidental expenses) to transfer within 20 days
      after it gives notice under Section 6(b)(i) all its rights and
      obligations under this Agreement in respect of the Affected Transactions
      to another of its Offices or Affiliates so that such Termination Event
      ceases to exist.

      If the Affected Party is not able to make such a transfer it will give
      notice to the other party to that effect within such 20 day period,
      whereupon the other party may effect such a transfer within 30 days
      after the notice is given under Section 6(b)(i).

      Any such transfer by a party under this Section 6(b)(ii) will be subject
      to and conditional upon the prior written consent of the other party,
      which consent will not be withheld if such other party's policies in
      effect at such time would permit it to enter into transactions with the
      transferee on the terms proposed.

      (iii) Two Affected Parties. If an Illegality under Section 5(b)(i)(1) or
      a Tax Event occurs and there are two Affected Parties, each party will
      use all reasonable efforts to reach agreement within 30 days after
      notice thereof is given under Section 6(b)(i) on action to avoid that
      Termination Event.

      (iv) Right to Terminate If: --

            (1)   a transfer under Section 6(b)(ii) or an agreement under
            Section 6(b)(iii), as the case may be, has not been effected with
            respect to all Affected Transactions within 30 days after an
            Affected Party gives notice under Section 6(b)(i); or

            (2)   an Illegality under Section 5(b)(i)(2), a Credit Event Upon
            Merger or an Additional Termination Event occurs, or a Tax Event
            Upon Merger occurs and the Burdened Party is not the Affected
            Party,

      either party in the case of an Illegality, the Burdened Party in the
      case of a Tax Event Upon Merger, any Affected Party in the case of a Tax
      Event or an Additional Termination Event if there is more than one
      Affected Party, or the party which is not the Affected Party in the case
      of a Credit Event Upon Merger or an Additional Termination Event if
      there is only one Affected Party may, by not more than 20 days notice to
      the other party and provided that the relevant Termination Event is then

                                      8

      continuing, designate a day not earlier than the day such notice is
      effective as an Early Termination Date in respect of all Affected
      Transactions.

(c)   Effect of Designation.

      (i)   If notice designating an Early Termination Date is given under
      Section 6(a) or (b), the Early Termination Date will occur on the date
      so designated, whether or not the relevant Event of Default or
      Termination Event is then continuing.

      (ii)  Upon the occurrence or effective designation of an Early
      Termination Date, no further payments or deliveries under Section
      2(a)(i) or 2(e) in respect of the Terminated Transactions will be
      required to be made, but without prejudice to the other provisions of
      this Agreement. The amount, if any, payable in respect of an Early
      Termination Date shall be determined pursuant to Section 6(e).

(d)   Calculations.

      (i)   Statement. On or as soon as reasonably practicable following the
      occurrence of an Early Termination Date, each party will make the
      calculations on its part, if any, contemplated by Section 6(e) and will
      provide to the other party a statement (1) showing, in reasonable
      detail, such calculations (including all relevant quotations and
      specifying any amount payable under Section 6(e)) and (2) giving details
      of the relevant account to which any amount payable to it is to be paid.
      In the absence of written confirmation from the source of a quotation
      obtained in determining a Market Quotation, the records of the party
      obtaining such quotation will be conclusive evidence of the existence
      and accuracy of such quotation.

      (ii)  Payment Date. An amount calculated as being due in respect of any
      Early Termination Date under Section 6(e) will be payable on the day
      that notice of the amount payable is effective (in the case of an Early
      Termination Date which is designated or occurs as a result of an Event
      of Default) and on the day which is two Local Business Days after the
      day on which notice of the amount payable is effective (in the case of
      an Early Termination Date which is designated as a result of a
      Termination Event). Such amount will be paid together with (to the
      extent permitted under applicable law) interest thereon (before as well
      as after judgment) in the Termination Currency, from (and including) the
      relevant Early Termination Date to (but excluding) the date such amount
      is paid, at the Applicable Rate. Such interest will be calculated on the
      basis of daily compounding and the actual number of days elapsed.

(e)   Payments on Early Termination. If an Early Termination Date occurs, the
following provisions shall apply based on the parties' election in the
Schedule of a payment measure, either "Market Quotation" or "Loss", and a
payment method, either the "First Method" or the "Second Method". If the
parties fail to designate a payment measure or payment method in the Schedule,
it will be deemed that "Market Quotation" or the "Second Method", as the case
may be, shall apply. The amount, if any, payable in respect of an Early
Termination Date and determined pursuant to this Section will be subject to
any Set-off.

      (i)   Events of Default. If the Early Termination Date results from an
      Event of Default: --

            (1)   First Method and Market Quotation. If the First Method and
            Market Quotation apply, the Defaulting Party will pay to the
            Non-defaulting Party the excess, if a positive number, of (A) the
            sum of the Settlement Amount (determined by the Non-defaulting
            Party) in respect of the Terminated Transactions and the
            Termination Currency Equivalent of the Unpaid Amounts owing to the
            Non-defaulting Party over (B) the Termination Currency Equivalent
            of the Unpaid Amounts owing to the Defaulting Party.

            (2)   First Method and Loss. If the First Method and Loss apply,
            the Defaulting Party will pay to the Non-defaulting Party, if a
            positive number, the Non-defaulting Party's Loss in respect of
            this Agreement.

            (3) Second Method and Market Quotation. If the Second Method and
            Market Quotation apply, an amount will be payable equal to (A) the
            sum of the Settlement Amount (determined by the

                                      9

            Non-defaulting Party) in respect of the Terminated Transactions
            and the Termination Currency Equivalent of the Unpaid Amounts
            owing to the Non-defaulting Party less (B) the Termination
            Currency Equivalent of the Unpaid Amounts owing to the Defaulting
            Party. If that amount is a positive number, the Defaulting Party
            will pay it to the Non-defaulting Party; if it is a negative
            number, the Non-defaulting Party will pay the absolute value of
            that amount to the Defaulting Party.

            (4)   Second Method and Loss. If the Second Method and Loss apply,
            an amount will be payable equal to the Non-defaulting Party's Loss
            in respect of this Agreement. If that amount is a positive number,
            the Defaulting Party will pay it to the Non-defaulting Party; if
            it is a negative number, the Non-defaulting Party will pay the
            absolute value of that amount to the Defaulting Party.

      (ii)  Termination Events. If the Early Termination Date results from a
      Termination Event: --

            (1)   One Affected Party. If there is one Affected Party, the
            amount payable will be determined in accordance with Section
            6(e)(i)(3), if Market Quotation applies, or Section 6(e)(i)(4), if
            Loss applies, except that, in either case, references to the
            Defaulting Party and to the Non-defaulting Party will be deemed to
            be references to the Affected Party and the party which is not the
            Affected Party, respectively, and, if Loss applies and fewer than
            all the Transactions are being terminated, Loss shall be
            calculated in respect of all Terminated Transactions.

            (2)   Two Affected Parties. If there are two Affected Parties: --

                  (A)   if Market Quotation applies, each party will determine
                  a Settlement Amount in respect of the Terminated
                  Transactions, and an amount will be payable equal to (I) the
                  sum of (a) one-half of the difference between the Settlement
                  Amount of the party with the higher Settlement Amount ("X")
                  and the Settlement Amount of the party with the lower
                  Settlement Amount ("Y") and (b) the Termination Currency
                  Equivalent of the Unpaid Amounts owing to X less (II) the
                  Termination Currency Equivalent of the Unpaid Amounts owing
                  to Y; and

                  (B)   if Loss applies, each party will determine its Loss in
                  respect of this Agreement (or, if fewer than all the
                  Transactions are being terminated, in respect of all
                  Terminated Transactions) and an amount will be payable equal
                  to one-half of the difference between the Loss of the party
                  with the higher Loss ("X") and the Loss of the party with
                  the lower Loss ("Y").

            If the amount payable is a positive number, Y will pay it to X; if
            it is a negative number, X will pay the absolute value of that
            amount to Y

      (iii) Adjustment for Bankruptcy. In circumstances where an Early
      Termination Date occurs because "Automatic Early Termination" applies in
      respect of a party, the amount determined under this Section 6(e) will
      be subject to such adjustments as are appropriate and permitted by law
      to reflect any payments or deliveries made by one party to the other
      under this Agreement (and retained by such other party) during the
      period from the relevant Early Termination Date to the date for payment
      determined under Section 6(d)(ii).

      (iv)  Pre-Estimate. The parties agree that if Market Quotation applies an
      amount recoverable under this Section 6(e) is a reasonable pre-estimate
      of loss and not a penalty. Such amount is payable for the loss of
      bargain and the loss of protection against future risks and except as
      otherwise provided in this Agreement neither party will be entitled to
      recover any additional damages as a consequence of such losses.

                                      10

7.    Transfer

Subject to Section 6(b)(ii), neither this Agreement nor any interest or
obligation in or under this Agreement may be transferred (whether by way of
security or otherwise) by either party without the prior written consent of
the other party, except that: --

(a)   a party may make such a transfer of this Agreement pursuant to a
consolidation or amalgamation with, or merger with or into, or transfer of all
or substantially all its assets to, another entity (but without prejudice to
any other right or remedy under this Agreement); and

(b)   a party may make such a transfer of all or any part of its interest in any
amount payable to it from a Defaulting Party under Section 6(e).

Any purported transfer that is not in compliance with this Section will be
void.

8. Contractual Currency

(a)   Payment in the Contractual Currency. Each payment under this Agreement
will be made in the relevant currency specified in this Agreement for that
payment (the "Contractual Currency"). To the extent permitted by applicable
law, any obligation to make payments under this Agreement in the Contractual
Currency will not be discharged or satisfied by any tender in any currency
other than the Contractual Currency, except to the extent such tender results
in the actual receipt by the party to which payment is owed, acting in a
reasonable manner and in good faith in converting the currency so tendered
into the Contractual Currency, of the full amount in the Contractual Currency
of all amounts payable in respect of this Agreement. If for any reason the
amount in the Contractual Currency so received falls short of the amount in
the Contractual Currency payable in respect of this Agreement, the party
required to make the payment will, to the extent permitted by applicable law,
immediately pay such additional amount in the Contractual Currency as may be
necessary to compensate for the shortfall. If for any reason the amount in the
Contractual Currency so received exceeds the amount in the Contractual
Currency payable in respect of this Agreement, the party receiving the payment
will refund promptly the amount of such excess.

(b) Judgments. To the extent permitted by applicable law, if any judgment or
order expressed in a currency other than the Contractual Currency is rendered
(i) for the payment of any amount owing in respect of this Agreement, (ii) for
the payment of any amount relating to any early termination in respect of this
Agreement or (iii) in respect of a judgment or order of another court for the
payment of any amount described in (i) or (ii) above, the party seeking
recovery, after recovery in full of the aggregate amount to which such party
is entitled pursuant to the judgment or order, will be entitled to receive
immediately from the other party the amount of any shortfall of the
Contractual Currency received by such party as a consequence of sums paid in
such other currency and will refund promptly to the other party any excess of
the Contractual Currency received by such party as a consequence of sums paid
in such other currency if such shortfall or such excess arises or results from
any variation between the rate of exchange at which the Contractual Currency
is convened into the currency of the judgment or order for the purposes of
such judgment or order and the rate of exchange at which such party is able,
acting in a reasonable manner and in good faith in converting the currency
received into the Contractual Currency, to purchase the Contractual Currency
with the amount of the currency of the judgment or order actually received by
such party. The term "rate of exchange" includes, without limitation, any
premiums and costs of exchange payable in connection with the purchase of or
conversion into the Contractual Currency.

(c)   Separate Indemnities. To the extent permitted by applicable law, these
indemnities constitute separate and independent obligations from the other
obligations in this Agreement, will be enforceable as separate and independent
causes of action, will apply notwithstanding any indulgence granted by the
party to which any payment is owed and will not be affected by judgment being
obtained or claim or proof being made for any other sums payable in respect of
this Agreement.

(d)   Evidence of Loss. For the purpose of this Section 8, it will be
sufficient for a party to demonstrate that it would have suffered a loss had
an actual exchange or purchase been made.

                                      11

9.    Miscellaneous

(a)   Entire Agreement. This Agreement constitutes the entire agreement and
understanding of the parties with respect to its subject matter and supersedes
all oral communication and prior writings with respect thereto.

(b)   Amendments. No amendment, modification or waiver in respect of this
Agreement will be effective unless in writing (including a writing evidenced
by a facsimile transmission) and executed by each of the parties or confirmed
by an exchange of telexes or electronic messages on an electronic messaging
system.

(c)   Survival of Obligations. Without prejudice to Sections 2(a)(iii) and
6(c)(ii), the obligations of the parties under this Agreement will survive the
termination of any Transaction.

(d)   Remedies Cumulative. Except as provided in this Agreement, the rights,
powers, remedies and privileges provided in this Agreement are cumulative and
not exclusive of any rights, powers, remedies and privileges provided by law.

(e)   Counterparts and Confirmations.

      (i)   This Agreement (and each amendment, modification and waiver in
      respect of it) may be executed and delivered in counterparts (including
      by facsimile transmission), each of which will be deemed an original.

      (ii)  The parties intend that they are legally bound by the terms of each
      Transaction from the moment they agree to those terms (whether orally or
      otherwise). A Confirmation shall be entered into as soon as practicable
      and may be executed and delivered in counterparts (including by
      facsimile transmission) or be created by an exchange of telexes or by an
      exchange of electronic messages on an electronic messaging system, which
      in each case will be sufficient for all purposes to evidence a binding
      supplement to this Agreement. The parties will specify therein or
      through another effective means that any such counterpart, telex or
      electronic message constitutes a Confirmation.

(f)   No Waiver of Rights. A failure or delay in exercising any right, power or
privilege in respect of this Agreement will not be presumed to operate as a
waiver, and a single or partial exercise of any right, power or privilege will
not be presumed to preclude any subsequent or further exercise, of that right,
power or privilege or the exercise of any other right, power or privilege.

(g)   Headings. The headings used in this Agreement are for convenience of
reference only and are not to affect the construction of or to be taken into
consideration in interpreting this Agreement.

10.   Offices; Multibranch Parties

(a)   If Section 10(a) is specified in the Schedule as applying, each party that
enters into a Transaction through an Office other than its head or home office
represents to the other party that, notwithstanding the place of booking
office or jurisdiction of incorporation or organisation of such party, the
obligations of such party are the same as if it had entered into the
Transaction through its head or home office. This representation will be
deemed to be repeated by such party on each date on which a Transaction is
entered into.

(b)   Neither party may change the Office through which it makes and receives
payments or deliveries for the purpose of a Transaction without the prior
written consent of the other party.

(c)   If a party is specified as a Multibranch Party in the Schedule, such
Multibranch Party may make and receive payments or deliveries under any
Transaction through any Office listed in the Schedule, and the Office through
which it makes and receives payments or deliveries with respect to a
Transaction will be specified in the relevant Confirmation.

11.   Expenses

A Defaulting Party will, on demand, indemnify and hold harmless the other
party for and against all reasonable out-of-pocket expenses, including legal
fees and Stamp Tax, incurred by such other party by reason of the enforcement
and protection of its rights under this Agreement or any Credit Support
Document

                                      12

to which the Defaulting Party is a party or by reason of the early termination
of any Transaction, including, but not limited to, costs of collection.

12.   Notices

(a) Effectiveness. Any notice or other communication in respect of this
Agreement may be given in any manner set forth below (except that a notice or
other communication under Section 5 or 6 may not be given by facsimile
transmission or electronic messaging system) to the address or number or in
accordance with the electronic messaging system details, provided (see the
Schedule) and will be deemed effective as indicated: --

      (i)   if in writing and delivered in person or by courier, on the date it
      is delivered;

      (ii)  if sent by telex, on the date the recipient's answer back is
      received;

      (iii) if sent by facsimile transmission, on the date that transmission
      is received by a responsible employee of the recipient in legible form
      (it being agreed that the burden of proving receipt will be on the
      sender and will not be met by a transmission report generated by the
      sender's facsimile machine);

      (iv)  if sent by certified or registered mail (airmail, if overseas) or
      the equivalent (return receipt requested), on the date that mail is
      delivered or its delivery is attempted; or

      (v)   if sent by electronic messaging system, on the date that electronic
      message is received,

unless the date of that delivery (or attempted delivery) or that receipt, as
applicable, is not a Local Business Day or that communication is delivered (or
attempted) or received, as applicable, after the close of business on a Local
Business Day, in which case that communication shall be deemed given and
effective on the first following day that is a Local Business Day.

(b)   Change of Addresses. Either party may by notice to the other change the
address, telex or facsimile number or electronic messaging system details at
which notices or other communications are to be given to it.

13.   Governing Law and Jurisdiction

(a)   Governing Law. This Agreement will be governed by and construed in
accordance with the law specified in the Schedule.

(b)   Jurisdiction. With respect to any suit, action or proceedings relating to
this Agreement ("Proceedings"), each party irrevocably: --

      (i)   submits to the jurisdiction of the English courts, if this Agreement
      is expressed to be governed by English law, or to the non-exclusive
      jurisdiction of the courts of the State of New York and the United
      States District Court located in the Borough of Manhattan in New York
      City, if this Agreement is expressed to be governed by the laws of the
      State of New York; and

      (ii)  waives any objection which it may have at any time to the laying of
      venue of any Proceedings brought in any such court, waives any claim
      that such Proceedings have been brought in an inconvenient forum and
      further waives the right to object, with respect to such Proceedings,
      that such court does not have any jurisdiction over such party.

Nothing in this Agreement precludes either party from bringing Proceedings in
any other jurisdiction (outside, if this Agreement is expressed to be governed
by English law, the Contracting States, as defined in Section 1(3) of the
Civil Jurisdiction and Judgments Act 1982 or any modification, extension or
re-enactment thereof for the time being in force) nor will the bringing of
Proceedings in any one or more jurisdictions preclude the bringing of
Proceedings in any other jurisdiction.

(c) Service of Process. Each party irrevocably appoints the Process Agent (if
any) specified opposite its name in the Schedule to receive, for it and on its
behalf, service of process in any Proceedings. If for any

                                      13

reason any party's Process Agent is unable to act as such, such party will
promptly notify the other party and within 30 days appoint a substitute
process agent acceptable to the other party. The parties irrevocably consent
to service of process given in the manner provided for notices in Section 12.
Nothing in this Agreement will affect the right of either party to serve
process in any other manner permitted by law.

(d) Waiver of Immunities. Each party irrevocably waives, to the fullest extent
permitted by applicable law, with respect to itself and its revenues and
assets (irrespective of their use or intended use), all immunity on the
grounds of sovereignty or other similar grounds from (i) suit, (ii)
jurisdiction of any court, (iii) relief by way of injunction, order for
specific performance or for recovery of property, (iv) attachment of its
assets (whether before or after judgment) and (v) execution or enforcement of
any judgment to which it or its revenues or assets might otherwise be entitled
in any Proceedings in the courts of any jurisdiction and irrevocably agrees,
to the extent permitted by applicable law, that it will not claim any such
immunity in any Proceedings.

14.   Definitions

As used in this Agreement: --

"Additional Termination Event" has the meaning specified in Section 5(b).

"Affected Party" has the meaning specified in Section 5(b).

"Affected Transactions" means (a) with respect to any Termination Event
consisting of an Illegality, Tax Event or Tax Event Upon Merger, all
Transactions affected by the occurrence of such Termination Event and (b) with
respect to any other Termination Event, all Transactions.

"Affiliate" means, subject to the Schedule, in relation to any person, any
entity controlled, directly or indirectly, by the person, any entity that
controls, directly or indirectly, the person or any entity directly or
indirectly under common control with the person. For this purpose, "control"
of any entity or person means ownership of a majority of the voting power of
the entity or person.

"Applicable Rate" means: --

(a)   in respect of obligations payable or deliverable (or which would have
been but for Section 2(a)(iii)) by a Defaulting Party, the Default Rate;

(b)   in respect of an obligation to pay an amount under Section 6(e) of either
party from and after the date (determined in accordance with Section 6(d)(ii))
on which that amount is payable, the Default Rate;

(c)   in respect of all other obligations payable or deliverable (or which
would have been but for Section 2(a)(iii)) by a Non-defaulting Party, the
Non-default Rate; and

(d)   in all other cases, the Termination Rate.

"Burdened Party" has the meaning specified in Section 5(b).

"Change in Tax Law" means the enactment, promulgation, execution or
ratification of, or any change in or amendment to, any law (or in the
application or official interpretation of any law) that occurs on or after the
date on which the relevant Transaction is entered into.

"consent" includes a consent, approval, action, authorisation, exemption,
notice, filing, registration or exchange control consent.

"Credit Event Upon Merger" has the meaning specified in Section 5(b).

"Credit Support Document" means any agreement or instrument that is specified
as such in this Agreement.

"Credit Support Provider" has the meaning specified in the Schedule.

"Default Rate" means a rate per annum equal to the cost (without proof or
evidence of any actual cost) to the relevant payee (as certified by it) if it
were to fund or of funding the relevant amount plus 1% per annum.

                                      14

"Defaulting Party" has the meaning specified in Section 6(a).

"Early Termination Date" means the date determined in accordance with Section
6(a) or 6(b)(iv).

"Event of Default" has the meaning specified in Section 5(a) and, if
applicable, in the Schedule.

"Illegality" has the meaning specified in Section 5(b).

"Indemnifiable Tax" means any Tax other than a Tax that would not be imposed
in respect of a payment under this Agreement but for a present or former
connection between the jurisdiction of the government or taxation authority
imposing such Tax and the recipient of such payment or a person related to
such recipient (including, without limitation, a connection arising from such
recipient or related person being or having been a citizen or resident of such
jurisdiction, or being or having been organised, present or engaged in a trade
or business in such jurisdiction, or having or having had a permanent
establishment or fixed place of business in such jurisdiction, but excluding a
connection arising solely from such recipient or related person having
executed, delivered, performed its obligations or received a payment under, or
enforced, this Agreement or a Credit Support Document).

"law" includes any treaty, law, rule or regulation (as modified, in the case
of tax matters, by the practice of any relevant governmental revenue
authority) and "lawful" and "unlawful" will be construed accordingly.

"Local Business Day" means, subject to the Schedule, a day on which commercial
banks are open for business (including dealings in foreign exchange and
foreign currency deposits) (a) in relation to any obligation under Section
2(a)(i), in the place(s) specified in the relevant Confirmation or, if not so
specified, as otherwise agreed by the parties in writing or determined
pursuant to provisions contained, or incorporated by reference, in this
Agreement, (b) in relation to any other payment, in the place where the
relevant account is located and, if different, in the principal financial
centre, if any, of the currency of such payment, (c) in relation to any notice
or other communication, including notice contemplated under Section 5(a)(i),
in the city specified in the address for notice provided by the recipient and,
in the case of a notice contemplated by Section 2(b), in the place where the
relevant new account is to be located and (d) in relation to Section
5(a)(v)(2), in the relevant locations for performance with respect to such
Specified Transaction.

"Loss" means, with respect to this Agreement or one or more Terminated
Transactions, as the case may be, and a party, the Termination Currency
Equivalent of an amount that party reasonably determines in good faith to be
its total losses and costs (or gain, in which case expressed as a negative
number) in connection with this Agreement or that Terminated Transaction or
group of Terminated Transactions, as the case may be, including any loss of
bargain, cost of funding or, at the election of such party but without
duplication, loss or cost incurred as a result of its terminating,
liquidating, obtaining or reestablishing any hedge or related trading position
(or any gain resulting from any of them). Loss includes losses and costs (or
gains) in respect of any payment or delivery required to have been made
(assuming satisfaction of each applicable condition precedent) on or before
the relevant Early Termination Date and not made, except, so as to avoid
duplication, if Section 6(e)(i)(1) or (3) or 6(e)(ii)(2)(A) applies. Loss does
not include a party's legal fees and out-of-pocket expenses referred to under
Section 11. A party will determine its Loss as of the relevant Early
Termination Date, or, if that is not reasonably practicable, as of the
earliest date thereafter as is reasonably practicable. A party may (but need
not) determine its Loss by reference to quotations of relevant rates or prices
from one or more leading dealers in the relevant markets.

"Market Quotation" means, with respect to one or more Terminated Transactions
and a party making the determination, an amount determined on the basis of
quotations from Reference Market-makers. Each quotation will be for an amount,
if any, that would be paid to such party (expressed as a negative number) or
by such party (expressed as a positive number) in consideration of an
agreement between such party (taking into account any existing Credit Support
Document with respect to the obligations of such party) and the quoting
Reference Market-maker to enter into a transaction (the "Replacement
Transaction") that would have the effect of preserving for such party the
economic equivalent of any payment or delivery (whether the underlying
obligation was absolute or contingent and assuming the satisfaction of each
applicable condition precedent) by the parties under Section 2(a)(i) in
respect of such Terminated Transaction or group of Terminated Transactions
that would, but for the occurrence of the relevant Early Termination Date,
have

                                      15

been required after that date. For this purpose, Unpaid Amounts in respect of
the Terminated Transaction or group of Terminated Transactions are to be
excluded but, without limitation, any payment or delivery that would, but for
the relevant Early Termination Date, have been required (assuming satisfaction
of each applicable condition precedent) after that Early Termination Date is
to be included. The Replacement Transaction would be subject to such
documentation as such party and the Reference Market-maker may, in good faith,
agree. The party making the determination (or its agent) will request each
Reference Market-maker to provide its quotation to the extent reasonably
practicable as of the same day and time (without regard to different time
zones) on or as soon as reasonably practicable after the relevant Early
Termination Date. The day and time as of which those quotations are to be
obtained will be selected in good Faith by the party obliged to make a
determination under Section 6(e), and, if each party is so obliged, after
consultation with the other. If more than three quotations are provided, the
Market Quotation will be the arithmetic mean of the quotations, without regard
to the quotations having the highest and lowest values. If exactly three such
quotations are provided, the Market Quotation will be the quotation remaining
after disregarding the highest and lowest quotations. For this purpose, if
more than one quotation has the same highest value or lowest value, then one
of such quotations shall be disregarded. If fewer than three quotations are
provided, it will be deemed that the Market Quotation in respect of such
Terminated Transaction or group of Terminated Transactions cannot be
determined.

"Non-default Rate" means a rate per annum equal to the cost (without proof or
evidence of any actual cost) to the Non-defaulting Party (as certified by it)
if it were to fund the relevant amount.

"Non-defaulting Party" has the meaning specified in Section 6(a).

"Office" means a branch or office of a party, which may be such party's head
or home office.

"Potential Event of Default" means any event which, with the giving of notice
or the lapse of time or both, would constitute an Event of Default.

"Reference Market-makers" means four leading dealers in the relevant market,
selected by the party determining a Market Quotation in good faith (a) from
among dealers of the highest credit standing which satisfy all the criteria
that such party applies generally at the time in deciding whether to offer or
to make an extension of credit and (b) to the extent practicable, from among
such dealers having an office in the same city.

"Relevant Jurisdiction" means, with respect to a party, the jurisdictions (a)
in which the party is incorporated, organised, managed and controlled or
considered to have its seat, (b) where an Office through which the party is
acting for purposes of this Agreement is located, (c) in which the party
executes this Agreement and (d) in relation to any payment, from or through
which such payment is made.

"Scheduled Payment Date" means a date on which a payment or delivery is to be
made under Section 2(a)(i) with respect to a Transaction.

"Set-off" means set-off, offset, combination of accounts, right of retention
or withholding or similar right or requirement to which the payer of an amount
under Section 6 is entitled or subject (whether arising under this Agreement,
another contract, applicable law or otherwise) that is exercised by, or
imposed on, such payer.

"Settlement Amount" means, with respect to a party and any Early Termination
Date, the sum of: --

(a)   the Termination Currency Equivalent of the Market Quotations (whether
positive or negative) for each Terminated Transaction or group of Terminated
Transactions for which a Market Quotation is determined; and

(b)   such party's Loss (whether positive or negative and without reference to
any Unpaid Amounts) for each Terminated Transaction or group of Terminated
Transactions for which a Market Quotation cannot be determined or would not
(in the reasonable belief of the party making the determination) produce a
commercially reasonable result.

"Specified Entity" has the meanings specified in the Schedule.

                                      16

"Specified Indebtedness" means, subject to the Schedule, any obligation
(whether present or future, contingent or otherwise, as principal or surety or
otherwise) in respect of borrowed money.

"Specified Transaction" means, subject to the Schedule, (a) any transaction
(including an agreement with respect thereto) now existing or hereafter
entered into between one party to this Agreement (or any Credit Support
Provider of such party or any applicable Specified Entity of such party) and
the other party to this Agreement (or any Credit Support Provider of such
other party or any applicable Specified Entity of such other party) which is a
rate swap transaction, basis swap, forward rate transaction, commodity swap,
commodity option, equity or equity index swap, equity or equity index option,
bond option, interest rate option, foreign exchange transaction, cap
transaction, floor transaction, collar transaction, currency swap transaction,
cross-currency rate swap transaction, currency option or any other similar
transaction (including any option with respect to any of these transactions),
(b) any combination of these transactions and (c) any other transaction
identified as a Specified Transaction in this Agreement or the relevant
confirmation.

"Stamp Tax" means any stamp, registration, documentation or similar tax.

"Tax" means any present or future tax, levy, impost, duty, charge, assessment
or fee of any nature (including interest, penalties and additions thereto)
that is imposed by any government or other taxing authority in respect of any
payment under this Agreement other than a stamp, registration, documentation
or similar tax.

"Tax Event" has the meaning specified in Section 5(b).

"Tax Event Upon Merger" has the meaning specified in Section 5(b).

"Terminated Transactions" means with respect to any Early Termination Date (a)
if resulting from a Termination Event, all Affected Transactions and (b) if
resulting from an Event of Default, all Transactions (in either case) in
effect immediately before the effectiveness of the notice designating that
Early Termination Date (or, if "Automatic Early Termination" applies,
immediately before that Early Termination Date).

"Termination Currency" has the meaning specified in the Schedule.

"Termination Currency Equivalent" means, in respect of any amount denominated
in the Termination Currency, such Termination Currency amount and, in respect
of any amount denominated in a currency other than the Termination Currency
(the "Other Currency"), the amount in the Termination Currency determined by
the party making the relevant determination as being required to purchase such
amount of such Other Currency as at the relevant Early Termination Date, or,
if the relevant Market Quotation or Loss (as the case may be), is determined
as of a later date, that later date, with the Termination Currency at the rate
equal to the spot exchange rate of the foreign exchange agent (selected as
provided below) for the purchase of such Other Currency with the Termination
Currency at or about 11:00 a.m. (in the city in which such foreign exchange
agent is located) on such date as would be customary for the determination of
such a rate for the purchase of such Other Currency for value on the relevant
Early Termination Date or that later date. The foreign exchange agent will, if
only one party is obliged to make a determination under Section 6(e), be
selected in good faith by that party and otherwise will be agreed by the
parties.

"Termination Event" means an Illegality, a Tax Event or a Tax Event Upon
Merger or, if specified to be applicable, a Credit Event Upon Merger or an
Additional Termination Event.

"Termination Rate" means a rate per annum equal to the arithmetic mean of the
cost (without proof or evidence of any actual cost) to each party (as
certified by such party) if it were to fund or of funding such amounts.

      "Unpaid Amounts" owing to any party means, with respect to an Early
      Termination Date, the aggregate of (a) in respect of all Terminated
      Transactions, the amounts that became payable (or that would have become
      payable but for Section 2(a)(iii)) to such party under Section 2(a)(i)
      on or prior to such Early Termination Date and which remain unpaid as at
      such Early Termination Date and (b) in respect of each Terminated
      Transaction, for each obligation under Section 2(a)(i) which was (or
      would have been but for Section 2(a)(iii)) required to be settled by
      delivery to such party on or prior to such Early Termination Date and
      which has not been so settled as at such Early Termination Date, an
      amount equal to the fair market

                                      17

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    value
      of
      that which was (or would have been) required to be delivered as of the
      originally scheduled date for delivery, in each case together with (to the
      extent permitted under applicable law) interest, in the currency of such
      amounts, from (and including) the date such amounts or obligations were or
      would
      have been required to have been paid or performed to (but excluding) such Early
      Termination Date, at the Applicable Rate. Such amounts of interest will be
      calculated on the basis of daily compounding and the actual number of days
      elapsed. The fair market value of any obligation referred to in clause (b)
      above
      shall be reasonably determined by the party obliged to make the determination
      under Section 6(e) or, if each party is so obliged, it shall be the average
      of
      the Termination Currency Equivalents of the fair market values reasonably
      determined by both parties.

     

    IN
      WITNESS WHEREOF the parties have executed this document on the respective dates
      specified below with effect from the date specified on the first page of this
      document.

     

    
      	
              BNP
                PARIBAS

            	 	
              THE
                BANK OF NEW YORK, not in its

              individual
                or corporate capacity but solely as

              Swap
                Contract Administrator for Alternative

              Loan
                Trust 2007-OH2

            
	 	 	 
	
              (Party
                A)

            	 	
              (Party
                B)

            
	 	 	 
	
              By:

            	/s/
              Christine Smith Howard  	 	
              By:

            	/s/
              Courtney A. Bartholomew 
	 	
              Name: 
                Christine Smith Howard

            	 	 	
              Name: 
                Courtney A. Bartholomew

            
	 	
              Title:   
                Authorized Signatory

            	 	 	
              Title:    
                Vice President

            
	 	 	 	 	 
	
              By:

            	/s/ 
              Joyce Lim	 	 	 
	 	
              Name: 
                Joyce Lim 

            	 	 	 
	 	
              Title:   
                Authorized Signatory    

            	 	 	 

    

    

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    (Multicurrency-Cross
      Border)

     

    SCHEDULE

    to
      the

    Master
      Agreement

    dated
      as
      of June 29, 2007

    between

    BNP
      PARIBAS (“Party A”),

    and

    THE
      BANK OF NEW YORK, not in its individual or corporate capacity but solely
      as

    Swap
      Contract Administrator for Alternative Loan Trust 2007-OH2 (“Party
      B”)

     

    All
      terms used herein and not otherwise defined are given their meaning in the
      Pooling and Servicing Agreement for Alternative Loan Trust 2007-OH2 dated as
      of
      June 1, 2007 among CWALT, Inc., as depositor, Park Granada LLC, as a seller,
      Park Monaco Inc., as a seller, Park Sienna LLC as a seller, Countrywide Home
      Loans, Inc., as a seller, Countrywide Home Loans Servicing LP, as master
      servicer, and The Bank of New York, as trustee (the “Pooling and Servicing Agreement”).

     

    Part
      1:  Termination Provisions

     

    For
      the purposes of this Agreement:

     

    
      	
              (a)  

            	
              “Specified
                Entity” will not apply to Party A or Party B for any
                purpose.

            

    

     

    
      	
              (b)  

            	
              “Specified
                Transaction” will not apply to Party A or Party B for any
                purpose.

            

    

     

    
      	
              (c)  

            	
              Events
                of Default.

            

    

     

    The
      statement below that an Event of Default will apply to a specific party means
      that upon the occurrence of such an Event of Default with respect to such party,
      the other party shall have the rights of a Non-defaulting Party under Section
      6
      of this Agreement; conversely, the statement below that such event will not
      apply to a specific party means that the other party shall not have such
      rights.

     

    
      	
              (i)    

            	
              The
                “Failure to Pay or Deliver” provisions of Section 5(a)(i)
                will apply to Party A and will apply to Party B; provided, however,
                that
                Section 5(a)(i) is hereby amended by replacing the word “third” with the
                word “first”.

            

    

     

    
      	
              (ii)    

            	
              The
                “Breach of Agreement” provisions of Section 5(a)(ii) will
                apply to Party A and will not apply to Party
                B.

            

    

     

    
      	
              (iii)    

            	
              The
                “Credit Support Default” provisions of Section 5(a)(iii)
                will apply to Party A and will not apply to Party B except that Section
                5(a)(iii)(1) will apply to Party B solely in respect of Party B’s
                obligations under Paragraph 3(b) of the Credit Support Annex; provided,
                however, that notwithstanding anything to the contrary in Section
                5(a)(iii)(1), any failure by Party A to comply with or perform any
                obligation to be complied with or performed by Party A under the
                Credit
                Support Annex shall not constitute an Event of Default under Section
                5(a)(iii) unless (i) a Moody’s Second Trigger Ratings Event has occurred
                and been continuing for 30 or more Local Business Days or (ii) an
                S&P
                Required Ratings Event has occurred and been continuing for 10 or
                more
                Local Business Days.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (iv)    

            	
              The
                “Misrepresentation” provisions of Section 5(a)(iv) will
                apply to Party A and will not apply to Party
                B.

            

    

     

    
      	
              (v)    

            	
              The
                “Default under Specified Transaction” provisions of
                Section 5(a)(v) will not apply to Party A and will not apply to Party
                B.

            

    

     

    
      	
              (vi)    

            	
              The
                “Cross Default” provisions of Section 5(a)(vi) will apply
                to Party A and will not apply to Party B. For purposes of Section
                5(a)(vi), solely with respect to Party
                A:

            

    

     

    “Specified
      Indebtedness” will have the meaning specified in Section 14, except that such
      term shall not include obligations in respect of deposits received in the
      ordinary course of Party A’s banking business.

     

    “Threshold
      Amount” means with respect to Party A an amount equal to three percent (3%) of
      the Shareholders’ Equity of Party A or, if applicable, the Eligible Guarantor of
      Party A.

     

    “Shareholders’
      Equity” means with respect to an entity, at any time, the sum (as shown in the
      most recent annual audited financial statements of such entity) of (i) its
      capital stock (including preferred stock) outstanding, taken at par value,
      (ii) its capital surplus and (iii) its retained earnings, minus (iv)
      treasury stock, each to be determined in accordance with generally accepted
      accounting principles in the country in which Party A or, if applicable, the
      Eligible Guarantor of Party A is organized.

     

    
      	
              (vii)    

            	
              The
                “Bankruptcy” provisions of Section 5(a)(vii) will apply
                to Party A and will apply to Party B except that the provisions of
                Section
                5(a)(vii)(2), (6) (to the extent that such provisions refer to any
                appointment contemplated or effected by the Pooling and Servicing
                Agreement or any appointment to which Party B has not become subject),
                (7)
                and (9) will not apply to Party B; provided that, with respect to
                Party B
                only, (i) Section 5(a)(vii)(4) is hereby amended by adding after
                the words
                “against it” the words “(excluding any proceeding or petition instituted
                or presented by Party A or its Affiliates)” and (ii) Section 5(a)(vii)(8)
                is hereby amended by deleting the words “to (7) (inclusive)” and inserting
                in lieu thereof “, (3), (4) as amended, (5) and (6) as
                amended”.

            

    

     

    
      	
              (viii)    

            	
              The
                “Merger Without Assumption” provisions of Section
                5(a)(viii) will apply to Party A and will not apply to Party
                B.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (d)  

            	
              Termination
                Events.

            

    

     

    The
      statement below that a Termination Event will apply to a specific party means
      that upon the occurrence of such a Termination Event, if such specific party
      is
      the Affected Party with respect to a Tax Event, the Burdened Party with respect
      to a Tax Event Upon Merger (except as noted below) or the non-Affected Party
      with respect to a Credit Event Upon Merger, as the case may be, such specific
      party shall have the right to designate an Early Termination Date in accordance
      with Section 6 of this Agreement; conversely, the statement below that such
      an
      event will not apply to a specific party means that such party shall not have
      such right; provided, however, with respect to “Illegality” the statement that
      such event will apply to a specific party means that upon the occurrence of
      such
      a Termination Event with respect to such party, either party shall have the
      right to designate an Early Termination Date in accordance with Section 6 of
      this Agreement.

     

    
      	
              (i)    

            	
              The
                “Illegality” provisions of Section 5(b)(i) will apply to
                Party A and will apply to Party B.

            

    

     

    
      	
              (ii)    

            	
              The
                “Tax Event” provisions of Section 5(b)(ii) will apply to
                Party A except that, for purposes of the application of Section 5(b)(ii)
                to Party A, Section 5(b)(ii) is hereby amended by deleting the words
“(x)
                any action taken by a taxing authority, or brought in a court of
                competent
                jurisdiction, on or after the date on which a Transaction is entered
                into
                (regardless of whether such action is taken or brought with respect
                to a
                party to this Agreement) or (y)” and the “Tax Event”
                provisions of Section 5(b)(ii) will apply to Party
                B.

            

    

     

    
      	
              (iii)    

            	
              The
                “Tax Event Upon Merger” provisions of Section 5(b)(iii)
                will apply to Party A and will apply to Party B, provided that Party
                A
                shall not be entitled to designate an Early Termination Date by reason
                of
                a Tax Event upon Merger in respect of which it is the Affected
                Party.

            

    

     

    
      	
              (iv)    

            	
              The
                “Credit Event Upon Merger” provisions of Section 5(b)(iv)
                will not apply to Party A and will not apply to Party
                B.

            

    

     

    
      	
              (e)  

            	
              The
                “Automatic Early Termination” provision of Section 6(a)
                will not apply to Party A and will not apply to Party
                B.

            

    

     

    
      	
              (f)  

            	
              Payments
                on Early Termination. For the purpose of Section 6(e) of this
                Agreement:

            

    

     

    
      	
              (i)    

            	
              Market
                Quotation will apply, provided, however, that, if an Early Termination
                Date has been designated by Party B in respect of a Derivative Provider
                Trigger Event, the following provisions will
                apply:

            

    

     

    
      	
              (A)    

            	
              The
                definition of Market Quotation in Section 14 shall be deleted in
                its
                entirety and replaced with the
                following:

            

    

     

    “Market
      Quotation” means, with respect to one or more Terminated
      Transactions, a Firm Offer which is (1) made by a Reference Market-maker that
      is
      an Eligible Replacement, (2) for an amount that would be paid to Party B
      (expressed as a negative number) or by Party B (expressed as a positive number)
      in consideration of an agreement between Party B and such Reference Market-maker
      to enter into a Replacement Transaction and (3) made on the basis that Unpaid
      Amounts in respect of the Terminated Transaction or group of Transactions are
      to
      be excluded but, without limitation, any payment or delivery that would, but
      for
      the relevant Early Termination Date, have been required (assuming satisfaction
      of each applicable condition precedent) after that Early Termination Date is
      to
      be included.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (B)    

            	
              The
                definition of Settlement Amount shall be deleted in its entirety
                and
                replaced with the following:

            

    

     

    “Settlement
      Amount” means, with respect to any Early Termination Date, an
      amount (as determined by Party B) equal to:

     

    
      	
               

            	
              (a)

            	
              If
                a Market Quotation for the relevant Terminated Transaction or group
                of
                Terminated Transactions is accepted by Party B so as to become legally
                binding on or before the day falling ten Local Business Days after
                the day
                on which the Early Termination Date is designated, or such later
                day as
                Party B may specify in writing to Party A, but in either case no
                later
                than one Local Business Day prior to the Early Termination Date (such
                day,
                the “Latest Settlement Amount Determination Day”), the Termination
                Currency Equivalent of the amount (whether positive or negative)
                of such
                Market Quotation;

            

    

     

    
      	
               

            	
              (b)

            	
              If,
                on the Latest Settlement Amount Determination Day, no Market Quotation
                for
                the relevant Terminated Transaction or group of Terminated Transactions
                has been accepted by Party B so as to become legally binding and
                one or
                more Market Quotations have been communicated to Party B and remain
                capable of becoming legally binding upon acceptance by Party B, the
                Settlement Amount shall equal the Termination Currency Equivalent
                of the
                amount (whether positive or negative) of the lowest of such Market
                Quotations (for the avoidance of doubt, the lowest of such Market
                Quotations shall be the lowest Market Quotation of such Market Quotations
                expressed as a positive number or, if any of such Market Quotations
                is
                expressed as a negative number, the Market Quotation expressed as
                a
                negative number with the largest absolute value);
                or

            

    

     

    
      	
               

            	
              (c)

            	
              If,
                on the Latest Settlement Amount Determination Day, no Market Quotation
                for
                the relevant Terminated Transaction or group of Terminated Transactions
                is
                accepted by Party B so as to become legally binding and no Market
                Quotations have been communicated to Party B and remain capable of
                becoming legally binding upon acceptance by Party B, the Settlement
                Amount
                shall equal Party B’s Loss (whether positive or negative and without
                reference to any Unpaid Amounts) for the relevant Terminated Transaction
                or group of Terminated
                Transactions.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (C)    

            	
              If
                Party B requests Party A in writing to obtain Market Quotations,
                Party A
                shall use its reasonable efforts to do so before the Latest Settlement
                Amount Determination Day.

            

    

     

    
      	
              (D)    

            	
              If
                the Settlement Amount is a negative number, Section 6(e)(i)(3) shall
                be
                deleted in its entirety and replaced with the
                following:

            

    

     

    “(3)
      Second Method and Market Quotation. If the Second Method and Market
      Quotation apply, (I) Party B shall pay to Party A an amount equal to the
      absolute value of the Settlement Amount in respect of the Terminated
      Transactions, (II) Party B shall pay to Party A the Termination Currency
      Equivalent of the Unpaid Amounts owing to Party A and (III) Party A shall
      pay to Party B the Termination Currency Equivalent of the Unpaid Amounts owing
      to Party B; provided, however, that (x) the amounts payable under the
      immediately preceding clauses (II) and (III) shall be subject to netting in
      accordance with Section 2(c) of this Agreement and (y) notwithstanding any
      other
      provision of this Agreement, any amount payable by Party A under the immediately
      preceding clause (III) shall not be netted-off against any amount payable by
      Party B under the immediately preceding clause (I).”

     

    
      	
              (E)    

            	
              At
                any time on or before the Latest Settlement Amount Determination
                Day at
                which two or more Market Quotations have been communicated to Party
                B and
                remain capable of becoming legally binding upon acceptance by Party
                B,
                Party B shall be entitled to accept only the lowest of such Market
                Quotations (for the avoidance of doubt, the lowest of such Market
                Quotations shall be the lowest Market Quotation of such Market Quotations
                expressed as a positive number or, if any of such Market Quotations
                is
                expressed as a negative number, the Market Quotation expressed as
                a
                negative number with the largest absolute
                value).

            

    

     

    
      	
              (ii)    

            	
              The
                Second Method will apply.

            

    

     

    
      	
              (iii)    

            	
              Party
                A and Party B agree that, notwithstanding anything in this Agreement
                to
                the contrary, in the event that an Early Termination Date has been
                designated (regardless of whether Party A or Party B is the Defaulting
                Party or Affected Party, as a result of a Derivative Provider Trigger
                Event or otherwise), (i) the amount payable under Section 6(e) in
                respect
                of each Transaction shall be calculated and paid as if each such
                Transaction was subject to a separate ISDA Master Agreement in the
                form of
                this Agreement and (ii) such amount shall not be subject to netting
                or any
                right of Set-off.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (g)

            	
              “Termination
                Currency” means USD.

            

    

     

    
      	
              (h)

            	
              Additional
                Termination Events. Additional Termination Events will apply as
                provided in Part 5(c).

            

    

     

    Part
      2:  Tax Representations

     

    
      	
              (a)

            	
              Tax
                Representations.

            

    

     

    
      	
               

            	
              (i)

            	
              Payer
                Representations.  For the purpose of Section 3(e) of
                this Agreement:

            

    

     

    
      	
               

            	
              (A)

            	
              Party
                A makes the following
                representation(s):

            

    

     

    It
      is not
      required by any applicable law, as modified by the practice of any relevant
      governmental revenue authority, of any Relevant Jurisdiction to make any
      deduction or withholding for or on account of any Tax from any payment (other
      than interest under Section 2(e), 6(d)(ii) or 6(e) of this Agreement) to be
      made
      by it to the other party under this Agreement. In making this representation,
      it
      may rely on: the accuracy of any representations made by the other party
      pursuant to Section 3(f) of this Agreement; (ii) the satisfaction of the
      agreement contained in Section 4(a)(i) or 4(a)(iii) of this Agreement and the
      accuracy and effectiveness of any document provided by the other party pursuant
      to Section 4(a)(i) or 4(a)(iii) of this Agreement; and (iii) the satisfaction
      of
      the agreement of the other party contained in Section 4(d) of this Agreement,
      provided that it shall not be a breach of this representation where reliance
      is
      placed on clause (ii) and the other party does not deliver a form or document
      under Section 4(a)(iii) by reason of material prejudice to its legal or
      commercial position.

     

    
      	
               

            	
              (B)

            	
              Party
                B makes the following
                representation(s):

            

    

     

    None.

     

    
      	
               

            	
              (ii)

            	
              Payee
                Representations.  For the purpose of Section 3(f) of
                this Agreement:

            

    

     

    
      	
               

            	
              (A)

            	
              Party
                A makes the following
                representation(s):

            

    

     

    It
      is a
“foreign person” within the meaning of the applicable U.S. Treasury Regulations
      concerning information reporting and backup withholding tax (as in effect on
      January 1, 2001), unless Party A provides written notice to Party B that it
      is
      no longer a foreign person. In respect of any Transaction it enters into through
      an office or discretionary agent in the United States or which otherwise is
      allocated for United States federal income tax purposes to such United States
      trade or business, each payment received or to be received by it under such
      Transaction will be effectively connected with its conduct of a trade or
      business in the United States.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              (B)

            	
              Party
                B makes the following
                representation(s):

            

    

     

    None.

     

    
      	
              (b)

            	
              Tax
                Provisions.

            

    

     

    
      	
               

            	
              (i)

            	
              Gross
                Up.  Section 2(d)(i)(4) shall not apply to Party B as X
                and Section 2(d)(ii) shall not apply to Party B as Y, in each case
                such
                that Party B shall not be required to pay any additional amounts
                referred
                to therein.

            

    

     

    
      	
               

            	
              (ii)

            	
              Indemnifiable
                Tax.  The definition of “Indemnifiable Tax” in Section
                14 is deleted in its entirety and replaced with the
                following:

            

    

     

    “Indemnifiable
      Tax” means, in relation to payments by Party A, any Tax and, in
      relation to payments by Party B, no Tax.

     

    Part
      3:  Agreement to Deliver Documents

     

    
      	
              (a)

            	
              Tax
                forms, documents or certificates to be delivered
                are:

            

    

     

    
      	
              Party
                required to deliver document

            	 	
              Form/Document/Certificate

            	 	
              Date
                by which to be delivered

            
	
              Party
                A and Party B

            	 	
              Any
                document required or reasonably requested to allow the other party
                to make
                payments under this Agreement without any deduction or withholding
                for or
                on the account of any Tax or with such deduction or withholding at
                a
                reduced rate.

            	 	
              Promptly
                after the earlier of (i) reasonable demand by either party or (ii)
                within
                30 days of the execution of this
                Agreement.

            

    

    

    
      	
              (b)

            	
              Other
                Documents to be delivered are (any document to be delivered below
                via
                Internet shall be deemed to be furnished in writing for purposes
                of
                Section 3(d) of the Agreement):

            

    

     

    
      	
              Party
                required to deliver document

            	 	
              Form/Document/Certificate

            	 	
              Date
                by which to be delivered

            	 	
              Covered
                by Section 3(d) representation

            
	
              Party
                A and Party B

            	 	
              Any
                documents required or reasonably requested by the receiving party
                to
                evidence authority of the delivering party or its Credit Support
                Provider,
                if any, to execute and deliver this Agreement, any Confirmation and
                any
                Credit Support Documents to which it is a party, and to evidence
                the
                authority of the delivering party or its Credit Support Provider
                to
                perform its obligations under this Agreement, such Confirmation and/or
                Credit Support Document, as the case may be.

            	 	
              Upon
                execution.

            	 	
              Yes

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Party
                A and Party B

            	 	
              A
                certificate of an authorized officer of the party, as to the incumbency
                and authority of the respective officers of the party signing this
                Agreement, any relevant Credit Support Document or any Confirmation,
                as
                the case may be.

            	 	
              Upon
                execution

            	 	
              Yes

            
	
              Party
                A

            	 	
              Annual
                Report of Party A containing consolidated financial statements certified
                by independent certified public accountants and prepared in accordance
                with generally accepted accounting principles in the country in which
                Party A is organized and delivered via internet at
                http://www.bnpparibas.com/

            	 	
              Annually,
                after becoming publicly available

            	 	
              Yes

            
	
              Party
                A and Party B

            	 	
              An
                opinion of counsel to such party reasonably satisfactory in form
                and
                substance to the other party regarding the enforceability of this
                Agreement, any Confirmation and any Credit Support Documents to which
                it
                is a party.

            	 	
              Upon
                execution

            	 	
              No

            
	
              Party
                B

            	 	
              Executed
                copy of the Pooling and Servicing Agreement

            	 	
              Upon
                the filing of the Pooling and Servicing Agreement on the Security
                and
                Exchange Commission’s EDGAR system

            	 	
              Yes

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Part
      4:  Miscellaneous

     

    
      	
              (a)

            	
              Addresses
                for Notices. For the purposes of Section 12(a) of this
                Agreement:

            

    

     

    Party
      A:

     

    Address
      for notices or communications to Party A:-

     

    BNP
      Paribas,

    787
      Seventh Avenue

    New
      York,
      NY 10019

                   
      Attention:  Legal and Transaction Management Group – ISDA

    Telephone
      No.:  (212) 841-3000

    Facsimile
      No.:  (212) 841-3561

     

    With
      a
      copy to:

     

    BNP
      Paribas, Paris, 1 Rue Taitbout, 75009 Paris

    Legal
      and
      Transaction Management Group – ISDA

    Telephone
      No:  (33) (0) 1 4014 0199

    Facsimile
      No:  (33) (0) 1 4014 5577 / 7511

     

    Party
      B:

     

    Address
      for notices or communications to Party B:

    Address:  The
      Bank of New York

    101
      Barclay Street – 4W Floor

    New
      York,
      NY 10286

    Attention:  Corporate
      Trust Administration MBS Administration, CWALT,

    Series
      2007-OH2

    Telephone
      No.:  (212) 815-6093

    Facsimile
      No.:  (212) 815-3986

     

    
      	
              (b)

            	
              Process
                Agent.  For the purposes of Section 13(c) of this
                Agreement:

            

    

     

    Party
      A
      appoints as its Process Agent:  Not Applicable.

    Party
      B
      appoints as its Process Agent:  Not Applicable.

     

    
      	
              (c)

            	
              Offices.  The
                provisions of Section 10(a) will not apply to this
                Agreement.

            

    

     

    
      	
              (d)

            	
              Multibranch
                Party.  For the purpose of Section 10(c) of this
                Agreement:

            

    

     

    Party
      A
      is not a Multibranch Party.

    Party
      B
      is not a Multibranch Party.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (e)

            	
              Calculation
                Agent.  The Calculation Agent is Party A; provided
                however, if an Event of Default occurs and is continuing with respect
                to
                Party A, then Party B shall be entitled to appoint a financial institution
                which would qualify as a Reference Market-maker to act as Calculation
                Agent, the cost for which shall be borne by Party
                A.

            

    

     

    
      	
              (f)

            	
              Credit
                Support Document. Credit Support Document
                means

            

      	 	 

      	 	Party
              A:    The
              Credit Support Annex and any guarantee in support of Party A’s obligations
              under this Agreement.

      	 	 

      	 	Party
              B:    The
              Credit Support Annex, solely in respect of Party B’s obligations under
              Paragraph 3(b) of the Credit Support
              Annex.

    

     

    
      	
              (g)

            	
              Credit
                Support Provider.

            

      	 	 

      	 	Party
              A:    The
              guarantor under any guarantee in support of Party A’s obligations under
              this Agreement.

      	 	 

      	 	Party
              B:    None.

    

     

    
      	
              (h)

            	
              Governing
                Law. The parties to this Agreement hereby agree that the
                law
                of the State of New York shall govern their rights and duties in
                whole,
                without regard to the conflict of law provisions thereof other than
                New
                York General Obligations Law Sections 5-1401 and
                5-1402.

            

    

     

    
      	
              (i)

            	
              Netting
                of Payments. Subparagraph (ii) of Section 2(c) of this
                Agreement will apply to all
                Transactions.

            

    

     

    
      	
              (j)

            	
              “Affiliate”
                will have the meaning specified in Section 14 of this Agreement,
                provided,
                however, that Party B shall be deemed to have no Affiliates for purposes
                of this Agreement, including for purposes of Section
                6(b)(ii).

            

    

     

    Part
      5:  Other Provisions

     

    
      	
              (a)

            	
              Definitions.
                Unless otherwise specified in a Confirmation, this Agreement and
                each
                Transaction under this Agreement are subject to the 2000 ISDA Definitions
                as published and copyrighted in 2000 by the International Swaps and
                Derivatives Association, Inc. (the “Definitions”) and
                will be governed in all relevant respects by the provisions set forth
                in
                the Definitions, without regard to any amendment to the Definitions
                subsequent to the date hereof. The provisions of the Definitions
                are
                hereby incorporated by reference in and shall be deemed a part of
                this
                Agreement, except that (i) references in the Definitions to a “Swap
                Transaction” shall be deemed references to a “Transaction” for purposes of
                this Agreement and (ii) references to a “Transaction” in this Agreement
                shall be deemed references to a “Swap Transaction” for purposes of the
                Definitions.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (b)

            	
              Amendments
                to ISDA Master Agreement.

            

    

     

    
      	
               

            	
              (i)

            	
              Single
                Agreement. Section 1(c) is hereby amended by the adding the words
                “including, for the avoidance of doubt, the Credit Support Annex” after
                the words “Master Agreement”.

            

    

     

    
      	
               

            	
              (ii)

            	
              Conditions
                Precedent.  Section 2(a)(iii) is hereby amended by
                adding the following at the end
                thereof:

            

    

     

    Notwithstanding
      anything to the contrary in Section 2(a)(iii)(1), if an Event of Default with
      respect to Party B or Potential Event of Default with respect to Party B has
      occurred and been continuing for more than 30 Local Business Days and no Early
      Termination Date in respect of the Affected Transactions has occurred or been
      effectively designated by Party A, the obligations of Party A under Section
      2(a)(i) shall cease to be subject to the condition precedent set forth in
      Section 2(a)(iii)(1) with respect to such specific occurrence of such Event
      of
      Default or such Potential Event of Default (the “Specific
      Event”); provided, however, for the avoidance of doubt, the obligations
      of Party A under Section 2(a)(i) shall be subject to the condition precedent
      set
      forth in Section 2(a)(iii)(1) (subject to the foregoing) with respect to any
      subsequent occurrence of the same Event of Default with respect to Party B
      or
      Potential Event of Default with respect to Party B after the Specific Event
      has
      ceased to be continuing and with respect to any occurrence of any other Event
      of
      Default with respect to Party B or Potential Event of Default with respect
      to
      Party B that occurs subsequent to the Specific Event.

    
       

      
        	
                 

              	
                (iii)

              	
                
                  Change
                    of Account. Section 2(b) is hereby amended by the addition of the
                    following after the word “delivery” in the first line thereof:
                    

                

              

      

    

     

    “to
      another account in the same legal and tax jurisdiction as the original
      account”.

     

    
      	
              (iv)

            	
              Representations.  Section
                3 is hereby amended by adding at the end thereof the following subsection
                (g):

            

    

     

    “(g)                      Relationship
      Between Parties.

     

    
      	
               

            	
              (1)

            	
              Nonreliance.
                (i) It is not relying on any statement or representation of the other
                party regarding any Transaction (whether written or oral), other
                than the
                representations expressly made in this Agreement or the Confirmation
                in
                respect of that Transaction and (ii) it has consulted with its own
                legal,
                regulatory, tax, business, investment, financial and accounting advisors
                to the extent it has deemed necessary and it has made its own investment,
                hedging and trading decisions based upon its own judgment and upon
                any
                advice from such advisors as it has deemed necessary and not upon
                any view
                expressed by the other party.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              (2)

            	
              Evaluation
                and Understanding. (i) It has the capacity to evaluate (internally
                or
                through independent professional advice) each Transaction and has
                made its
                own decision to enter into each Transaction and (ii) It understands
                the
                terms, conditions and risks of each Transaction and is willing and
                able to
                accept those terms and conditions and to assume those risks, financially
                and otherwise.

            

    

     

    
      	
               

            	
              (3)

            	
              Purpose.
                It is entering into each Transaction for the purposes of managing
                its
                borrowings or investments, hedging its underlying assets or liabilities
                or
                in connection with a line of
                business.

            

    

     

    
      	
               

            	
              (4)

            	
              Status
                of Parties. The other party is not acting as an agent, fiduciary
                or
                advisor for it in respect of any
                Transaction.

            

    

     

    
      	
               

            	
              (5)

            	
              Eligible
                Contract Participant. It is an “eligible swap participant” as such term is
                defined in Section 35.1(b)(2) of the regulations (17 C.F.R. 35)
                promulgated under, and an “eligible contract participant” as defined in
                Section 1(a)(12) of, the Commodity Exchange Act, as
                amended.”

            

    

     

    
      	
               

            	
              (v)

            	
              Transfer
                to Avoid Termination Event.  Section 6(b)(ii) is hereby
                amended by (i) deleting the words “or if a Tax Event Upon Merger occurs
                and the Burdened Party is the Affected Party,” and (ii) deleting the words
                “to transfer” and inserting the words “to effect a Permitted Transfer” in
                lieu thereof.

            

    

     

    
      	
               

            	(vi)	
              Jurisdiction.  Section
                13(b) is hereby amended by: (i) deleting in the second line of
                subparagraph (i) thereof the word “non-”, (ii) deleting “; and” from the
                end of subparagraph 1 and inserting “.” in lieu thereof and (iii) deleting
                the final paragraph thereof.

            

      	 	 	 

      	 	(vii)	
              Local
                Business Day.  The definition of Local Business Day in
                Section 14 is hereby amended by the addition of the words “or any Credit
                Support Document” after “Section 2(a)(i)” and the addition of the words
                “or Credit Support Document” after
                “Confirmation”.

            

    

    
      	
               

            

    

    
      	
              (c)

            	
              Additional
                Termination Events.  The following Additional
                Termination Events will apply:

            

    

     

    
      	
               

            	
              (i)

            	
              Moody’s
                First Ratings Trigger Collateral Failure.  If (A) it is
                not the case that a Moody’s Second Trigger Ratings Event has occurred and
                been continuing for 30 or more Local Business Days and (B) Party
                A has
                failed to comply with or perform any obligation to be complied with
                or
                performed by Party A in accordance with the Credit Support Annex,
                then an
                Additional Termination Event shall have occurred with respect to
                Party A
                and Party A shall be the sole Affected Party with respect to such
                Additional Termination Event.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              (ii)

            	
              S&P
                Approved Ratings Collateral Failure.  If (A) it is not
                the case that an S&P Required Ratings Event has occurred and been
                continuing for 10 or more Local Business Days and (B) Party A has
                failed
                to comply with or perform any obligation to be complied with or performed
                by Party A in accordance with the Credit Support Annex, then an Additional
                Termination Event shall have occurred with respect to Party A and
                Party A
                shall be the sole Affected Party with respect to such Additional
                Termination Event.

            

      	 	 	 

      	 	
              (iii)

            	Moody’s
              Second Ratings Trigger Replacement.  If (A) a Moody’s
              Second Trigger Ratings Event has occurred and been continuing for 30
              or
              more Local Business Days and (B) at least one Eligible Replacement
              has
              made a Firm Offer that would, assuming the occurrence of an Early
              Termination Date, qualify as a Market Quotation (as defined in Part
              1(f)(i) above) and such Firm Offer remains an offer that will become
              legally binding upon such Eligible Replacement upon acceptance, then
              an
              Additional Termination Event shall have occurred with respect to Party
              A
              and Party A shall be the sole Affected Party with respect to such
              Additional Termination Event.

      	 	 	 

      	 	
              (iv)

            	
              S&P
                Required Ratings Failure.  If (A) an S&P Required
                Ratings Event has occurred and been continuing for 60 or more calendar
                days and (B) Party A has failed to either (i) effect a Permitted
                Transfer
                or (ii) procure an Eligible Guarantee, then an Additional Termination
                Event shall have occurred with respect to Party A and Party A shall
                be the
                sole Affected Party with respect to such Additional Termination
                Event.

            

    

     

    
      	
               

            	
              (v)

            	
              Supplemental
                Pooling and Servicing Agreement Without Party A’s Prior Written
                Consent.  If Party B enters into an amendment and or
                supplement to the Pooling and Servicing Agreement or other modification
                to
                the Pooling and Servicing Agreement that could reasonably be expected
                to
                have a material adverse effect on Party A (excluding, for the avoidance
                of
                doubt, any amendment to the Pooling and Servicing Agreement that
                is
                entered into solely for the purpose of appointing a successor master
                servicer or trustee) without the prior written consent (such consent
                not
                to be unreasonably withheld) of Party A where such consent is required
                under the Pooling and Servicing Agreement, then an Additional Termination
                Event shall have occurred with respect to Party B and Party B shall
                be the
                sole Affected Party with respect to such Additional Termination Event.
                Party B agrees with Party A that Party A shall be an express third-party
                beneficiary of the Pooling and Servicing
                Agreement.

            

      	 	 	 

      	 	(vi)	[Reserved]

      	 	 	 

      	 	(vii) 	[Reserved]

      	 	 	 

      	 	(viii)	For
              the avoidance of doubt, in the event that (A) a Moody’s Second Trigger
              Ratings Event has occurred and been continuing for 30 or more Local
              Business Days and (B) an S&P Required Ratings Event has occurred and
              been continuing for 60 or more calendar days, Party B shall be entitled
              to
              declare an Early Termination Date pursuant to Section 6(b)(iv) and
              Part
              5(c)(iv) for so long as such S&P Required Ratings Event is continuing,
              notwithstanding the absence of a Firm Offer from an Eligible
              Replacement.

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (d)

            	
              Required
                Ratings Downgrade Event.  In the event that neither
                Party A nor any Eligible Guarantor of Party A under an Eligible Guarantee
                has credit ratings that satisfy the S&P Required Ratings Threshold and
                the Moody’s Second Trigger Ratings Threshold (such event, a
                “Required Ratings Downgrade Event”), then Party A shall,
                as soon as reasonably practicable and so long as a Required Ratings
                Downgrade Event is in effect, at its own expense, using commercially
                reasonable efforts, either (A) effect a Permitted Transfer or (B)
                procure
                an Eligible Guarantee.

            

    

     

    
      	
              (e)

            	
              Regulation
                AB Compliance.  Party A and Party B hereby agree that
                the terms of the Item 1115 Agreement dated as of March 15, 2006 (the
                “Regulation AB Agreement”), between Countrywide Home Loans, Inc., CWABS,
                Inc., CWMBS, Inc., CWALT, Inc., CWHEQ, Inc. and BNP Paribas shall
                be
                incorporated by reference into this Agreement so that Party B shall
                be an
                express third party beneficiary of the Regulation AB Agreement. A
                copy of
                the Regulation AB Agreement is attached hereto as Exhibit
                A.

            

    

     

    
      	
              (f)

            	
              Transfers.

            

    

     

    
      	
               

            	
              (i)

            	
              Section
                7 is hereby amended to read in its entirety as
                follows:

            

    

     

    “Neither
      Party A nor Party B is permitted to assign, novate or transfer (whether by
      way
      of security or otherwise) as a whole or in part any of its rights, obligations
      or interests under the Agreement or any Transaction without (a) the prior
      written consent of the other party, (b) prior written notice to Moody’s and (c)
      satisfaction of the Rating Agency Condition with respect to S&P, except
      that:

     

    
      	
               

            	
              (a)

            	
              a
                party may make such a transfer of this Agreement pursuant to a
                consolidation or amalgamation with, or merger with or into, or transfer
                of
                all or substantially all its assets to, another entity (but without
                prejudice to any other right or remedy under this
                Agreement);

            

    

     

    
      	
               

            	
              (b)

            	
              a
                party may make such a transfer of all or any part of its interest
                in any
                amount payable to it from a Defaulting Party under Section 6(e);
                and

            

    

     

    
      	
               

            	
              (c)

            	
              Party
                A may (at its own cost) transfer all or substantially all of its
                rights
                and obligations with respect to this Agreement to any other entity
                that is
                an Eligible Replacement (i) pursuant to Section 6(b)(ii) or the Regulation
                AB Agreement (subject to satisfaction of the Rating Agency Condition
                with
                respect to S&P) or (ii) in connection with a Replacement Transaction
                or a Permitted Transfer”.

            

    

     

    
      	
               

            	
              (ii)

            	
              If
                an Eligible Replacement has made a Firm Offer (and such Firm Offer
                remains
                an offer that will become legally binding upon such Eligible Replacement
                upon acceptance) to be the transferee pursuant to a transfer in accordance
                with clause (c) above, Party B shall, at Party A’s written request and at
                Party A’s expense, take any reasonable steps required to be taken by Party
                B to effect such transfer.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (g)

            	
              Non-Recourse.
                Party A acknowledges and agrees that, notwithstanding any provision
                in
                this Agreement to the contrary, the obligations of Party B hereunder
                are
                limited recourse obligations of Party B, payable solely from the
                Swap
                Trust and the proceeds thereof, in accordance with the priority of
                payments and other terms of the Pooling and Servicing Agreement and
                that
                Party A will not have any recourse to any of the directors, officers,
                employees, shareholders or affiliates of the Party B with respect
                to any
                claims, losses, damages, liabilities, indemnities or other obligations
                in
                connection with any transactions contemplated hereby. In the event
                that
                the Swap Trust and the proceeds thereof should be insufficient to
                satisfy
                all claims outstanding following the realization of the account held
                by
                the Swap Trust and the proceeds thereof, any claims against or obligations
                of Party B under this Agreement and any Confirmation hereunder still
                outstanding shall be extinguished and thereafter not revive. Party
                B shall
                not have liability for any failure or delay in making a payment hereunder
                to Party A due to any failure or delay in receiving amounts in the
                account
                held by the Swap Trust from the Trust Fund created pursuant to the
                Pooling
                and Servicing Agreement.

            

    

     

    
      	
              (h)

            	
              Timing
                of Payments by Party B upon Early Termination. Notwithstanding
                anything to the contrary in Section 6(d)(ii), to the extent that
                all or a
                portion (in either case, the “Unfunded Amount”) of any amount that is
                calculated as being due in respect of any Early Termination Date
                under
                Section 6(e) from Party B to Party A will be paid by Party B from
                amounts
                other than any upfront payment paid to Party B by an Eligible Replacement
                that has entered into a Replacement Transaction with Party B, then
                such
                Unfunded Amount shall be due on the next subsequent Distribution
                Date
                following the date on which the payment would have been payable as
                determined in accordance with Section 6(d)(ii) and on any subsequent
                Distribution Dates until paid in full (or if such Early Termination
                Date
                is the final Distribution Date, on such final Distribution Date);
                provided, however, that if the date on which the payment would have
                been
                payable as determined in accordance with Section 6(d)(ii) is a
                Distribution Date, such payment will be payable on such Distribution
                Date.

            

    

     

    
      	
              (i)

            	
              Rating
                Agency Notifications. Notwithstanding any other provision of this
                Agreement, no Early Termination Date shall be effectively designated
                hereunder by Party B and no transfer of any rights or obligations
                under
                this Agreement shall be made by either party unless each Swap Rating
                Agency has been provided prior written notice of such designation
                or
                transfer.

            

    

     

    
      	
              (j)

            	
              No
                Set-off. Except as expressly provided for in Section 2(c),
                Section 6, Paragraph 8 of the Credit Support Annex or Part 1(f)(i)(D)
                hereof and notwithstanding any other provision of this Agreement
                or any
                other existing or future agreement, each party irrevocably waives
                any and
                all rights it may have to set off, net, recoup or otherwise withhold
                or
                suspend or condition payment or performance of any obligation between
                it
                and the other party hereunder against any obligation between it and
                the
                other party under any other agreements. Section 6(e) shall be amended
                by
                deleting the following sentence: “The amount, if any, payable in respect
                of an Early Termination Date and determined pursuant to this Section
                will
                be subject to any Set-off.”.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (k)

            	
              Amendment.
                Notwithstanding any provision to the contrary in this Agreement,
                no
                amendment of either this Agreement or any Transaction under this
                Agreement
                shall be permitted by either party unless each of the Swap Rating
                Agencies
                has been provided prior written notice of the same and the Rating
                Agency
                Condition is satisfied with respect to
                S&P.

            

    

     

    
      	
              (l)

            	
              Notice
                of Certain Events or Circumstances. Each Party agrees, upon
                learning of the occurrence or existence of any event or condition
                that
                constitutes (or that with the giving of notice or passage of time
                or both
                would constitute) an Event of Default or Termination Event with respect
                to
                such party, to promptly give notice of such event or condition to
                the
                other Party and each Swap Rating Agency; provided that failure to
                provide
                notice of such event or condition pursuant to this Part 5(l) shall
                not
                constitute an Event of Default or a Termination
                Event.

            

    

     

    
      	
              (m)

            	
              Proceedings.
                No Relevant Entity shall institute against, or cause any other person
                to
                institute against, or join any other person in instituting against
                Party
                B, the Swap Trust or the Trust Fund formed pursuant to the Pooling
                and
                Servicing Agreement, any bankruptcy, reorganization, arrangement,
                insolvency or liquidation proceedings or other proceedings under
                any
                federal or state bankruptcy or similar law for a period of one year
                (or,
                if longer, the applicable preference period) and one day following
                payment
                in full of the Certificates. This provision will survive the termination
                of this Agreement.

            

    

     

    
      	
              (n)

            	
              Swap
                Contract Administrator Liability Limitations. Party A and Party B
                agree to the following: (a) The Bank of New York (“BNY”) is entering into
                this Agreement not in its individual or corporate capacity, but solely
                in
                its capacity as Swap Contract Administrator for Alternative Loan
                Trust
                2007-OH2; (b) in no case shall BNY (or any person acting as successor
                Swap
                Contract Administrator for Alternative Loan Trust 2007-0H2) be personally
                liable for or on account of any of the statements, representations,
                warranties, covenants or obligations stated to be those of Party
                B under
                the terms of this Agreement, all such liability, if any, being expressly
                waived by Party A and any person claiming by, through or under Party
                A;
                and (c) recourse against Party B shall be limited to the assets available
                under the Pooling and Servicing Agreement. This Part 5(n) shall survive
                the termination of this Agreement.

            

    

     

    
      	
              (o)

            	
              Severability.
                If any term, provision, covenant or condition of this Agreement,
                or the application thereof to any party or circumstance, shall be
                held to
                be invalid or unenforceable (in whole or in part) in any respect,
                the
                remaining terms, provisions, covenants and conditions hereof shall
                continue in full force and effect as if this Agreement had been executed
                with the invalid or unenforceable portion eliminated, so long as
                this
                Agreement as so modified continues to express, without material change,
                the original intentions of the parties as to the subject matter of
                this
                Agreement and the deletion of such portion of this Agreement will
                not
                substantially impair the respective benefits or expectations of the
                parties; provided, however, that this severability provision shall
                not be
                applicable if any provision of Section 2, 5, 6 or 13 (or any definition
                or
                provision in Section 14 to the extent it relates to, or is used in
                or in
                connection with, any such Section) shall be so held to be invalid
                or
                unenforceable.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      parties shall endeavor to engage in good faith negotiations to replace any
      invalid or unenforceable term, provision, covenant or condition with a valid
      or
      enforceable term, provision, covenant or condition, the economic effect of
      which
      comes as close as possible to that of the invalid or unenforceable term,
      provision, covenant or condition.

     

    
      	
              (p)

            	
              [Reserved]

            

    

     

    
      	
              (q)

            	
              Escrow
                Payments. If (whether by reason of the time difference between
                the cities in which payments are to be made or otherwise) it is not
                possible for simultaneous payments to be made on any date on which
                both
                parties are required to make payments hereunder, either party may
                at its
                option and in its sole discretion notify the other party that payments
                on
                that date are to be made in escrow. In this case deposit of the payment
                due earlier on that date shall be made by 2:00 pm (local time at
                the place
                for the earlier payment) on that date with an escrow agent selected
                by the
                notifying party, accompanied by irrevocable payment instructions
                (i) to
                release the deposited payment to the intended recipient upon receipt
                by
                the escrow agent of the required deposit of any corresponding payment
                payable by the other party on the same date accompanied by irrevocable
                payment instructions to the same effect or (ii) if the required deposit
                of
                the corresponding payment is not made on that same date, to return
                the
                payment deposited to the party that paid it into escrow. The party
                that
                elects to have payments made in escrow shall pay all costs of the
                escrow
                arrangements.

            

    

     

    
      	
              (r)

            	
              Consent
                to Recording. Each party hereto consents to the monitoring or
                recording, at any time and from time to time, by the other party
                of any
                and all communications between trading, marketing and operations
                personnel
                of the parties and their Affiliates, waives any further notice of
                such
                monitoring or recording and agrees to notify such personnel of such
                monitoring or recording.

            

    

     

    
      	
              (s)

            	
              Waiver
                of Jury Trial. Each party waives any right it may have to a trial
                by jury in respect of any in respect of any suit, action or proceeding
                relating to this Agreement or any Credit Support
                Document.

            

    

     

    
      	
              (t)

            	
              [Reserved]

            

    

     

    
      	
              (u)

            	
              [Reserved]

            

    

     

    
      	
              (v)

            	
              Additional
                representations.

            

    

     

    
      	
               

            	
              (i)

            	
              Capacity.
                Party A represents to Party B on the date on which Party A enters
                into
                this Agreement that it is entering into the Agreement and each Transaction
                as principal and not as agent of any person. Party B represents to
                Party A
                on the date on which Party B enters into this Agreement that it is
                entering into the Agreement and each Transaction in its capacity
                as Swap
                Contract Administrator.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              (w)

            	
              Acknowledgements.

            

    

     

    
      	
               

            	
              (i)

            	
              Substantial
                financial transactions. Each party hereto is hereby advised and
                acknowledges as of the date hereof that the other party has engaged
                in (or
                refrained from engaging in) substantial financial transactions and
                has
                taken (or refrained from taking) other material actions in reliance
                upon
                the entry by the parties into the Transactions being entered into
                on the
                terms and conditions set forth herein and in the Pooling and Servicing
                Agreement relating to such Transactions, as applicable. This paragraph
                shall be deemed repeated on the trade date of each
                Transaction.

            

    

     

    
      	
               

            	
              (ii)

            	
              Bankruptcy
                Code. Subject to Part 5(m), without limiting the applicability,
                if any, of any other provision of the U.S. Bankruptcy Code as amended
                (the
                “Bankruptcy Code”) (including without limitation Sections 362, 546, 556
                and 560 thereof and the applicable definitions in Section 101 thereof),
                the parties acknowledge and agree that all Transactions entered into
                hereunder will constitute “forward contracts” or “swap agreements” as
                defined in Section 101 of the Bankruptcy Code or “commodity contracts” as
                defined in Section 761 of the Bankruptcy Code, that the rights of
                the
                parties under Section 6 of this Agreement will constitute contractual
                rights to liquidate Transactions, that any margin or collateral provided
                under any margin, collateral, security, pledge or similar agreement
                related hereto will constitute a “margin payment” as defined in Section
                101 of the Bankruptcy Code and that the parties are entities entitled
                to
                the rights under, and protections afforded by, Sections 362, 546,
                556 and
                560 of the Bankruptcy Code.

            

    

     

    
      	
              (x)

            	
              [Reserved]

            

    

     

    
      	
              (y)

            	
              [Reserved]

            

    

     

    
      	
              (z)

            	
              Additional
                Definitions.

            

    

     

    As
      used
      in this Agreement, the following terms shall have the meanings set forth below,
      unless the context clearly requires otherwise:

     

    “Derivative
      Provider Trigger Event” means (i) an Event of Default with respect
      to which Party A is a Defaulting Party, (ii) a Termination Event (other than
      an
      Illegality or a Tax Event) with respect to which Party A is the sole Affected
      Party or (iii) an Additional Termination Event with respect to which Party
      A is
      the sole Affected Party.

     

    “Eligible
      Guarantee” means an unconditional and irrevocable guarantee of all
      present and future obligations (for the avoidance of doubt, not limited to
      payment obligations) of Party A or an Eligible Replacement to Party A under
      this
      Agreement that is provided by an Eligible Guarantor as principal debtor rather
      than surety and that is directly enforceable by Party B, the form and substance
      of which guarantee are subject to the Rating Agency Condition with respect
      to
      S&P and either (A) a law firm has given a legal opinion confirming that none
      of the guarantor’s payments to Party B under such guarantee will be subject to
      deduction or withholding for Tax and such opinion has been delivered to Moody’s,
      (B) such guarantee provides that, in the event that any of such guarantor’s
      payments to Party B are subject to deduction or withholding for Tax, such
      guarantor is required to pay such additional amount as is necessary to ensure
      that the net amount actually received by Party B (free and clear of any Tax
      collected by withholding) will equal the full amount Party B would have received
      had no such deduction or withholding been required or (C) in the event that
      any
      payment under such guarantee is made net of deduction or withholding for Tax,
      Party A is required, under Section 2(a)(i), to make such additional payment
      as
      is necessary to ensure that the net amount actually received by Party B from
      the
      guarantor will equal the full amount Party B would have received had no such
      deduction or withholding been required.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Eligible
      Guarantor” means an entity that (A) has credit ratings from
      S&P at least equal to the S&P Required Ratings Threshold and (B) has
      credit ratings from Moody’s at least equal to the Moody’s Second Trigger Ratings
      Threshold; provided, for the avoidance of doubt, that an Eligible Guarantee
      of
      an Eligible Guarantor with credit ratings below the S&P Approved Ratings
      Threshold or the Moody’s First Trigger Ratings Threshold, as applicable, will
      not cause a Collateral Event (as defined in the Credit Support Annex) to cease
      to occur or continue.

     

    “Eligible
      Replacement” means an entity that (A) (i) (a) has credit ratings
      from S&P at least equal to the S&P Required Ratings Threshold and (b)
      has credit ratings from Moody’s at least equal to the Moody’s Second Trigger
      Ratings Threshold; provided, for the avoidance of doubt, that an Eligible
      Replacement with credit ratings below the S&P Approved Ratings Threshold or
      the Moody’s First Trigger Ratings Threshold, as applicable, will not cause a
      Collateral Event (as defined in the Credit Support Annex) to cease to occur
      or
      continue or (ii) provides an Eligible Guaranty from an Eligible Guarantor and
      (B) that has executed an Item 1115 Agreement with the Depositor.

     

    “Financial
      Institution” means, with respect to any Relevant Entity, a bank,
      broker/dealer, insurance company, structured investment company or derivative
      product company.

     

    “Firm
      Offer” means an offer which, when made, was capable of becoming
      legally binding upon acceptance. “Moody’s” means Moody’s Investors Service,
      Inc., or any successor thereto.

     

    “Moody’s
      First Trigger Ratings Threshold” means, with respect to any
      Relevant Entity, (i) if such entity has a short-term unsecured and
      unsubordinated debt rating from Moody’s, a long-term unsecured and
      unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a
      short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1” or
      (ii) if such entity does not have a short-term unsecured and unsubordinated
      debt
      rating or counterparty rating from Moody’s, a long-term unsecured and
      unsubordinated debt rating or counterparty rating from Moody’s of
“Al”.

     

    “Moody’s
      Second Trigger Ratings Event” means that neither Party A nor any
      Eligible Guarantor of Party A under an Eligible Guarantee has credit ratings
      from Moody’s at least equal to the Moody’s Second Trigger Ratings
      Threshold.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      “Moody’s
        Second Trigger Ratings Threshold” means, with respect to any
        Relevant Entity, (i) if such entity has a short-term unsecured and
        unsubordinated debt rating from Moody’s, a long-term unsecured and
        unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a
        short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2” or
        (ii) if such entity does not have a short-term unsecured and unsubordinated
        debt
        rating from Moody’s, a long-term unsecured and unsubordinated debt rating or
        counterparty rating from Moody’s of “A3”.

       

    

    “Permitted
      Transfer” means a transfer by novation by Party A to a transferee
      (the “Transferee”) of all, but not less than all, of Party A’s rights,
      liabilities, duties and obligations under this Agreement, with respect to which
      transfer each of the following conditions is satisfied: (a) the Transferee
      is an
      Eligible Replacement that is a recognized dealer in interest rate swaps
      organized under the laws of the United States of America or a jurisdiction
      located in the United States of America (or another jurisdiction reasonably
      acceptable to Party B), (b) an Event of Default, Termination Event or Additional
      Termination Event would not occur as a result of such transfer, (c) pursuant
      to
      a written instrument (the “Transfer Agreement”), the Transferee acquires and
      assumes all rights and obligations of Party A under the Agreement and the
      relevant Transactions, (d) Party B shall have determined, in its sole
      discretion, acting in a commercially reasonable manner, that such Transfer
      Agreement is effective to transfer to the Transferee all, but not less than
      all,
      of Party A’s rights and obligations under the Agreement and all relevant
      Transactions; (e) Party A will be responsible for any costs or expenses incurred
      in connection with such transfer (including any cost of entering into a Transfer
      Agreement); (f) Moody’s has been given prior written notice of such transfer and
      the Rating Agency Condition is satisfied with respect to S&P and (g) such
      transfer otherwise complies with the terms of the Pooling and Servicing
      Agreement.

     

    “Rating
      Agency Condition” means, with respect to any proposed act
      hereunder and each Swap Rating Agency specified in connection with such proposed
      act, a condition that is satisfied when the party proposing such act consults
      with each of the specified Swap Rating Agencies and receives from each such
      Swap
      Rating Agency a prior written confirmation (including by facsimile transmission)
      that the proposed action would not cause a downgrade or withdrawal of the
      then-current rating of any Certificates.

     

    “Regulation
      AB Agreement” shall have the meaning assigned thereto in Part
      5(e).

     

    “Relevant
      Entity” means Party A, a guarantor under an Eligible Guarantee or
      an Eligible Replacement, as applicable.

     

    “Replacement
      Transaction” means, with respect to any Terminated Transaction or
      group of Terminated Transactions, a transaction or group of transactions that
      (i) would have the effect of preserving for Party B the economic equivalent
      of
      any payment or delivery (whether the underlying obligation was absolute or
      contingent and assuming the satisfaction of each applicable condition precedent)
      by the parties under Section 2(a)(i) in respect of such Terminated Transaction
      or group of Terminated Transactions that would, but for the occurrence of the
      relevant Early Termination Date, have been required after that date and (ii)
      has
      terms which are substantially the same as this Agreement, including, without
      limitation, rating triggers, Regulation AB compliance and credit support
      documentation, save for the exclusion of provisions relating to Transactions
      that are not Terminated Transactions, as determined by Party B in its sole
      discretion, acting in a commercially reasonable manner.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Required
      Ratings Downgrade Event” shall have the meaning assigned thereto
      in Part 5(d).

     

    “S&P”
      means Standard & Poor’s Rating Services, a division of The McGraw-Hill
      Companies, Inc., or any successor thereto.

     

    “S&P
      Approved Ratings Threshold” means, only with respect to a Relevant
      Entity that is a Financial Institution, a short-term unsecured and
      unsubordinated debt rating from S&P of “A-1” or, if such entity does not
      have a short-term unsecured and unsubordinated debt rating from S&P, a
      long-term unsecured and unsubordinated debt rating from S&P of
“A+”.

     

    “S&P
      Required Ratings Event” means that neither Party A nor any
      Eligible Guarantor of Party A under an Eligible Guarantee has credit ratings
      from S&P at least equal to the S&P Required Ratings
      Threshold.

     

    “S&P
      Required Ratings Threshold” means, (i) with respect to any
      Relevant Entity that is a Financial Institution, a short-term unsecured and
      unsubordinated debt rating from S&P of “A-2” or, if such entity does not
      have a short-term unsecured and unsubordinated debt rating from S&P, a
      long-term unsecured and unsubordinated debt rating from S&P of “BBB+” and
      (ii) with respect to any Relevant Entity that is not a Financial Institution,
      a
      short-term unsecured and unsubordinated debt rating from S&P of “A-1” or, if
      such entity does not have a short-term unsecured and unsubordinated debt rating
      from S&P, a long-term unsecured and unsubordinated debt rating from S&P
      of “A+”.

     

    “Swap
      Rating Agencies” means, with respect to any date of determination,
      each of S&P and Moody’s, to the extent that each such rating agency is then
      providing a rating for any of the Certificates.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      IN
        WITNESS WHEREOF, the parties have executed this document by their duly
        authorized officers with effect from the date so specified on the first page
        hereof.

    

     

    
      	
              BNP
                PARIBAS

            	 	
              THE
                BANK OF NEW YORK, not in its

              individual
                or corporate capacity but solely as

              Swap
                Contract Administrator for Alternative

              Loan
                Trust 2007-OH2

            
	
              (“Party
                A”)

            	 	
              (“Party
                B”)

            
	 	 	 
	
              By:

            	/s/
              Christine Smith Howard 	 	
              By:

            	/s/
              Matthew Sabino 
	 	
              Name: 
                Christine Smith Howard

            	 	 	
              Name: 
                Matthew Sabino

            
	 	
              Title:   
                Authorized Signatory

            	 	 	
              Title:   
                Assistant Treasurer

            
	 	 	 	 	 
	
              By:

            	/s/
              Mindy Sperling 	 	 	 
	 	
              Name: 
                Mindy Sperling

            	 	 	 
	 	
              Title:   
                Authorized Signatory

            	 	 	 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

    

    EXHIBIT
      A

     

    Regulation
      AB Agreement

     

    
      The Item 1115 Agreement

      Item 1115 Agreement dated as of March 15, 2006 (this "Agreement"),
between COUNTRYWIDE HOME LOANS, INC., a New York corporation ("CHL"),
CWABS, INC., a Delaware corporation ("CWABS"), CWMBS, Inc., a Delaware
corporation ("CWMBS"), CWALT, Inc., a Delaware corporation ("CWALT"),
CWHEQ, Inc., a Delaware corporation ("CWHEQ") and BNP Paribas, as
counterparty (the "Counterparty").

                                   RECITALS

            WHEREAS, CWABS, CWMBS, CWALT and CWHEQ each have filed
Registration Statements on Form S-3 (each, a "Registration Statement") with
the Securities and Exchange Commission (the "Commission") for purposes of
offering mortgage backed or asset-backed notes and/or certificates (the
"Securities") through special purpose vehicles (each, an "SPV").

            WHEREAS, from time to time, on the closing date (the "Closing
Date") of a transaction pursuant to which Securities are offered (each, a
"Transaction"), the Counterparty and CHL or an underwriter or dealer with
respect to the Transaction, enter into certain derivative agreements (each, a
"Derivative Agreement"), including interest rate caps and interest rate or
currency swaps, for purposes of providing certain yield enhancements that are
assigned to the SPV or the related trustee on behalf of the SPV or a swap or
corridor contract administrator (each, an "Administrator").

            NOW, THEREFORE, in consideration of the mutual agreements set
forth herein and for other good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, the parties hereby agree as follows:

Section 1.  Definitions

            Company Information:  As defined in Section 4(a)(i).

            Company Financial Information:  As defined in Section 2(a)(ii).

            Depositor:  Means CWABS, CWMBS, CWALT or CWHEQ with respect to
the related Registration Statement for which the entity of the registrant.

            GAAP:  As defined in Section 3(a)(v).

            EDGAR:  The Commission's Electronic Data Gathering, Analysis
and Retrieval system.

            Exchange Act:  The Securities Exchange Act of 1934, as amended
and the rules and regulations promulgated thereunder.

            Exchange Act Reports: All Distribution Reports on Form 10-D,
Current Reports on Form 8-K and Annual Reports on Form 10-K that are to be
filed with respect to the related SPV pursuant to the Exchange Act.

            Master Agreement: The ISDA Master Agreement between the
Counterparty and CHL, or if no such Master Agreement exists, the ISDA Master
Agreement assumed to apply to the Derivative Agreement pursuant to its terms.

            Prospectus Supplement: The prospectus supplement prepared in
connection with the public offering and sale of the related Securities.

            Regulation AB: Subpart 229.1100 - Asset Backed Securities
(Regulation AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be amended
from time to time, and subject to such clarification and interpretation as
have been provided by the Commission in the adopting release (Asset-Backed
Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531
(Jan. 7, 2005)) or by the staff of the Commission, or as may be provided by
the Commission or its staff from time to time.

            Securities Act: The Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder.

Section 2.  Information to be Provided by the Counterparty.

      (a)   Prior to printing the related Prospectus Supplement,

            (i)   the Counterparty shall provide to the related Depositor such
                  information regarding the Counterparty, as a derivative
                  instrument counterparty, as is reasonably requested by the
                  related Depositor solely for the purpose of compliance with
                  Item 1115(a)(1) of Regulation AB, which as of the date of
                  this agreement is agreed to comprise of:

                  (A)   The Counterparty's legal name;

                  (B)   the organizational form of the Counterparty;

                  (C)   a description of the general character of the business
                        of the Counterparty;

            (ii)  if requested by the related Depositor for the purpose of
                  compliance with Item 1115(b) with respect to a Transaction,
                  the Counterparty shall:

                  (A)   provide the financial data required by Item 1115(b)(1)
                        or (b)(2) of Regulation AB (as specified by the
                        related Depositor to the Counterparty) with respect to
                        the Counterparty (or any entity that consolidates the
                        Counterparty) and any affiliated entities providing
                        derivative instruments to the SPV (the "Company
                        Financial Information"), in a form appropriate for use
                        in the Prospectus Supplement and in an
                        EDGAR-compatible form; and

                  (B)   if applicable, cause its accountants to issue their
                        consent to the filing of such financial statements in
                        the Registration Statement.

                                      2

      (b)   Following the Closing Date with respect to a Transaction,

            (i)   if the Counterparty provided Company Financial Information
                  to the related Depositor for the Prospectus Supplement,
                  within 5 Business Days of the release of any updated
                  financial data, the Counterparty shall (1) provide current
                  Company Financial Information as required under Item 1115(b)
                  of Regulation AB to the related Depositor in an
                  EDGAR-compatible form, (2) if applicable, cause its
                  accountants to issue their consent to filing or
                  incorporation by reference of such financial statements in
                  the Exchange Act Reports of the SPV; and

            (ii)  if the related Depositor requests Company Financial
                  Information from the Counterparty (after the aggregate
                  "significance percentage", determined absent manifest error,
                  of all derivative instruments provided by Counterparty and
                  any of its affiliates to the SPV is 8.00% or more in respect
                  of Item 1115(b)(1), or 18.00% or more in respect of Item
                  1115(b)(2)), for the purpose of compliance with Item 1115(b)
                  of Regulation AB following the Closing Date, the
                  Counterparty shall upon five Business Days written notice
                  either (A), (1) provide current Company Financial
                  Information as required under Item 1115(b) of Regulation AB
                  to the related Depositor in an EDGAR-compatible form, (2) if
                  applicable, cause its accountants to issue their consent to
                  filing or incorporation by reference of such financial
                  statements in the Exchange Act Reports of the SPV and (3)
                  within 5 Business Days of the release of any updated
                  financial data, provide current Company Financial
                  Information as required under Item 1115(b) of Regulation AB
                  to the related Depositor in an EDGAR-compatible form and if
                  applicable, cause its accountants to issue their consent to
                  filing or incorporation by reference of such financial
                  statements in the Exchange Act Reports of the SPV or (B)
                  assign the Derivative Agreement as provided below.

Section 3.  Representations and Warranties and Covenants of the Counterparty.

      (a)   The Counterparty represents and warrants to the related Depositor,
            as of the date on which information is first provided to the
            related Depositor under Section 2(a)(ii), Section 2(b)(i) or
            Section 2(b)(ii), that, except as disclosed in writing the related
            Depositor prior to such date:

            (i)   The accountants who certify the financial statements and
                  supporting schedules included in the Company Financial
                  Information (if applicable) are independent registered
                  public accountants as required by the Securities Act.

            (ii)  If applicable, the financial statements included in the
                  Company Financial Information present fairly the
                  consolidated financial position of the Counterparty (or the
                  entity that consolidates the Counterparty) and its
                  consolidated subsidiaries as at the dates indicated and the
                  consolidated

                                      3

                  results of their operations and cash flows for the periods
                  specified; except as otherwise stated in the Company
                  Financial Information, said financial statements have been
                  prepared in conformity with generally accepted accounting
                  principles ("GAAP") applied on a consistent basis; and the
                  supporting schedules included in the Company Financial
                  Information present fairly in accordance with GAAP the
                  information required to be stated therein. The selected
                  financial data and summary financial information included in
                  the Company Financial Information present fairly the
                  information shown therein and have been compiled on a basis
                  consistent with that of the audited financial statements of
                  the Counterparty.

            (iii) The Company Financial Information and other Company
                  Information included or incorporated by reference in the
                  Registration Statement (including through filing on an
                  Exchange Act Report), at the time they were or hereafter are
                  filed with the Commission, complied in all material respects
                  with the requirements of Item 1115(b) of Regulation AB (with
                  respect to the Company Financial Information) and, did not
                  and will not contain an untrue statement of a material fact
                  or omit to state a material fact required to be stated
                  therein or necessary in order to make the statements
                  therein, in the light of the circumstances under which they
                  were made, not misleading.

      (b)   The Counterparty agrees that the terms of this Agreement shall be
            incorporated by reference into any Derivative Agreement so that
            each SPV who is a beneficiary of a Derivative Agreement shall be
            an express third party beneficiary of this Agreement.

Section 4.  Indemnification; Remedies

      (a)   The Counterparty shall indemnify CHL and the related Depositor,
            each person responsible for the preparation, execution or filing
            of any report required to be filed with the Commission with
            respect to such SPV, or for execution of a certification pursuant
            to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act; each
            broker dealer acting as underwriter, each person who controls any
            of such parties (within the meaning of Section 15 of the
            Securities Act and Section 20 of the Exchange Act); and the
            respective present and former directors, officers, employees and
            agents of each of the foregoing, and shall hold each of them
            harmless from and against any losses, damages, penalties, fines,
            forfeitures, legal fees and expenses and related costs, judgments,
            and any other costs, fees and expenses that any of them may
            sustain arising out of or based upon:

            (i)   (A) any untrue statement of a material fact contained or
                  alleged to be contained in any information, report,
                  certification, accountants' consent or other material
                  provided in written or electronic form under Section 2 by or
                  on behalf of the Counterparty (collectively, the "Company
                  Information"), or (B) the omission or alleged omission to
                  state in the Company Information a material fact required to
                  be stated in the Company

                                      4

                  Information or necessary in order to make the statements
                  therein, in the light of the circumstances under which they
                  were made, not misleading; or

            (ii)  any breach by the Counterparty of a representation or
                  warranty set forth in Section 3(a) and made as of a date
                  prior to the Closing Date, to the extent that such breach is
                  not cured by the Closing Date, or any breach by the
                  Counterparty of a representation or warranty pursuant to
                  Section 3 to the extent made as of a date subsequent to the
                  Closing Date.

      (b)   (i)   Any failure by the Counterparty to deliver any information,
                  report, accountants' consent or other material when and in
                  any case only as required under Section 2 or any breach by
                  the Counterparty of a representation or warranty set forth
                  in Section 3 and made as of a date prior to the Closing
                  Date, to the extent that such breach is not cured by the
                  Closing Date (or in the case of information needed for
                  purposes of printing the Prospectus Supplement, the date of
                  printing of the Prospectus Supplement), shall, except as
                  provided in clause (ii) of this paragraph, immediately and
                  automatically, without notice or grace period, constitute an
                  Additional Termination Event (as defined in the Master
                  Agreement) with the Counterparty as the sole Affected Party
                  (as defined in the Master Agreement) under the Derivative
                  Agreement. In the event that an Early Termination Date is
                  designated in connection with such Additional Termination
                  Event, a termination payment (if any) shall be payable as of
                  the Early Termination Date by the applicable party as
                  determined by the application of Section 6(e)(ii) of the
                  Master Agreement, with Market Quotation and Second Method
                  being the applicable method for determining the termination
                  payment (notwithstanding anything in the Derivative
                  Agreement to the contrary).

            (ii)  If the Counterparty has failed to deliver any information,
                  report, or accountants' consent when and as required under
                  Section 2, which continues unremedied for the lesser of ten
                  calendar days after the date on which such information,
                  report, or accountants' consent was required to be delivered
                  or such period in which the applicable Exchange Act Report
                  for which such information is required can be timely filed
                  (without taking into account any extensions permitted to be
                  filed), or if the Counterparty has provided Company
                  Information any breach by the Counterparty of a
                  representation or warranty pursuant to Section 3 to the
                  extent made as of a date subsequent to such closing date,
                  and the Counterparty has not, at its own cost, within the
                  period in which the applicable Exchange Act Report for which
                  such information is required can be timely filed, caused
                  another entity (which meets any applicable ratings threshold
                  in the Derivative Agreement) to replace the Counterparty as
                  party to the Derivative Agreement that (i) has signed an
                  agreement with CHL and the Depositors substantially in the
                  form of this Agreement, (ii) has agreed to deliver any
                  information, report, certification or accountants' consent
                  when and as

                                      5

                  required under Section 2 hereof and (iii) is approved by the
                  Depositor (which approval shall not be unreasonably
                  withheld) and any rating agency, if applicable, on terms
                  substantially similar to the Derivative Agreement, then an
                  Additional Termination Event (as defined in the Master
                  Agreement) shall have occurred with the Counterparty as the
                  sole Affected Party. In the event that an Early Termination
                  Date is designated in connection with such Additional
                  Termination Event, a termination payment (if any) shall be
                  payable by the applicable party as of the Early Termination
                  Date as determined by the application of Section 6(e)(ii) of
                  the Master Agreement, with Market Quotation and Second
                  Method being the applicable method for determining the
                  termination payment (notwithstanding anything in the
                  Derivative Agreement to the contrary).

            (iii) In the event that the Counterparty or the SPV has found a
                  replacement entity in accordance with Section 4(b)(ii) , the
                  Counterparty shall promptly reimburse the SPV for all
                  reasonable incidental expenses incurred by the SPV, as such
                  are incurred, in connection with the termination of the
                  Counterparty as counterparty and the entry into a new
                  Derivative Agreement. The provisions of this paragraph shall
                  not limit whatever rights the SPV may have under other
                  provisions of this Agreement or otherwise, whether in equity
                  or at law, such as an action for damages, specific
                  performance or injunctive relief.

Section 5.  Miscellaneous.

      (a)   Construction. Throughout this Agreement, as the context requires,
            (a) the singular tense and number includes the plural, and the
            plural tense and number includes the singular; (b) the past tense
            includes the present, and the present tense includes the past; and
            (c) references to parties, sections, schedules, and exhibits mean
            the parties, sections, schedules, and exhibits of and to this
            Agreement. The section headings in this Agreement are inserted
            only as a matter of convenience, and in no way define, limit,
            extend, or interpret the scope of this Agreement or of any
            particular section.

      (b)   Assignment. None of the parties may assign their rights under this
            Agreement without the prior written consent of the other parties.
            Subject to the foregoing, this Agreement shall be binding on and
            inure to the benefit of the parties and their respective
            successors and permitted assigns.

      (c)   No Third-Party Benefits Except as Specified. None of the
            provisions of this Agreement are intended to benefit, or to be
            enforceable by, any third-party beneficiaries except the related
            SPV and any trustee of an SPV or any Administrator.

      (d)   Governing Law. This Agreement shall be governed by and construed
            in accordance with the internal laws of the State of New York
            without regard to the conflict of laws principles thereof.

                                      6

      (e)   Amendment and Waiver. This Agreement may not be modified or
            amended except by an instrument in writing signed by the parties
            hereto. No waiver of any provision of this Agreement or of any
            rights or obligations of any party under this Agreement shall be
            effective unless in writing and signed by the party or parties
            waiving compliance, and shall be effective only in the specific
            instance and for the specific purpose stated in that writing.

      (f)   Counterparts. This Agreement may be executed in one or more
            counterparts, each of which shall be deemed an original, but all
            of which together shall constitute one and the same instrument.

      (g)   Additional Documents. Each party hereto agrees to execute any and
            all further documents and writings and to perform such other
            actions which may be or become necessary or expedient to
            effectuate and carry out this Agreement.

      (h)   Severability. Any provision hereof which is prohibited or
            unenforceable shall be ineffective only to the extent of such
            prohibition or unenforceability without invalidating the remaining
            provisions hereof.

      (i)   Integration. This Agreement contains the entire understanding of
            the parties with respect to the subject matter hereof. There are
            no restrictions, agreements, promises, representations,
            warranties, covenants or undertakings with respect to the subject
            matter hereof other than those expressly set forth or referred to
            herein. This Agreement supersedes all prior agreements and
            understandings between the parties with respect to its subject
            matter.

                                      7

            IN WITNESS WHEREOF, the parties hereto have caused their names to
be signed hereto by their respective officers thereunto duly authorized as of
the day and year first above written.

                             CWABS, INC.

                             By:  /s/ Darren Bigby
                                  -------------------------------------------
                                  Name:  Darren Bigby
                                  Title: Vice President

                             CWMBS, INC.

                             By:  /s/ Darren Bigby
                                  -------------------------------------------
                                  Name:  Darren Bigby
                                  Title: Vice President

                             CWALT, INC.

                             By:  /s/ Darren Bigby
                                  -------------------------------------------
                                  Name:  Darren Bigby
                                  Title: Vice President

                             CWHEQ, INC.

                             By:  /s/ Darren Bigby
                                  -------------------------------------------
                                  Name:  Darren Bigby
                                  Title: Vice President

                             COUNTRYWIDE HOME LOANS, INC.

                             By:  /s/ Darren Bigby
                                  -------------------------------------------
                                  Name:  Darren Bigby
                                  Title: Executive Vice President

                                      8

                             BNP PARIBAS

                             By:  /s/ Kip Testwuide
                                  -------------------------------------------
                                  Name:  Kip Testwuide
                                  Title: Managing Director

                             By:  /s/ Avi Pemper
                                  -------------------------------------------
                                  Name:  Avi Pemper
                                  Title: Managing Director

                                      9

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ISDA®

    CREDIT
      SUPPORT ANNEX

    to
      the
      Schedule to the

    ISDA
      Master Agreement

    dated
      as
      of June 29, 2007 between

     

    BNP
      PARIBAS (hereinafter referred to
      as “Party
      A” or “Pledgor”),

     

    and

     

    THE
      BANK OF NEW YORK, not in its individual or corporate
      capacity

    but
      solely as Swap Contract Administrator for Alternative Loan
      Trust

    2007-OH2
      (hereinafter referred to as “Party B”
      or “Secured
      Party”)

     

    
      
         

        This
          Annex supplements, forms part of, and is subject to, the above-referenced
          Agreement, is part of its Schedule and is a Credit Support Document under
          this
          Agreement with respect to each party.

         

        Accordingly,
          the parties agree as follows:

         

        Paragraph
          1.  Interpretation

         

        (a)  Definitions
          and Inconsistency.  Capitalized terms not otherwise
          defined herein or elsewhere in this Agreement have the meanings specified
          pursuant to Paragraph 12, and all references in this Annex to Paragraphs
          are to
          Paragraphs of this Annex.  In the event of any inconsistency between
          this Annex and the other provisions of this Schedule, this Annex will prevail
          and in the event of any inconsistency between Paragraph 13 and the other
          provisions of this Annex, Paragraph 13 will prevail.

         

        (b)  Secured
          Party and Pledgor.  All references in this Annex to the
“Secured Party” will be to either party when acting in that capacity and
          all
          corresponding references to the “Pledgor” will be to the other party when acting
          in that capacity; provided, however, that if Other Posted Support is held
          by a
          party to this Annex, all references herein to that party as the Secured
          Party
          with respect to that Other Posted Support will be to that party as the
          beneficiary thereof and will not subject that support or that party as
          the
          beneficiary thereof to provisions of law generally relating to security
          interests and secured parties.

         

        Paragraph
          2.  Security
          Interest

         

        Each
          party, as the Pledgor, hereby pledges to the other party, as the Secured
          Party,
          as security for its Obligations, and grants to the Secured Party a first
          priority continuing security interest in, lien on and right of Set-off
          against
          all Posted Collateral Transferred to or received by the Secured Party
          hereunder.  Upon the Transfer by the Secured Party to the Pledgor of
          Posted Collateral, the security interest and lien granted hereunder on
          that
          Posted Collateral will be released immediately and, to the extent possible,
          without further action by either party.

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

         

        Paragraph
          3.  Credit
          Support Obligations

         

        (a)  Delivery
          Amount.  Subject to Paragraphs 4 and 5, upon a demand
          made by the Secured Party on or promptly following a Valuation Date, if
          the
          Delivery Amount for that Valuation Date equals or exceeds the Pledgor’s Minimum
          Transfer Amount, then the Pledgor will Transfer to the Secured Party Eligible
          Credit Support having a Value as of the date of Transfer at least equal
          to the
          applicable Delivery Amount (rounded pursuant to Paragraph 13).  Unless
          otherwise specified in Paragraph 13, the “Delivery Amount” applicable to the
          Pledgor for any Valuation Date will equal the amount by which:

         

        (i)  the
          Credit Support Amount

         

        exceeds

         

        (ii)  the
          Value
          as of that Valuation Date of all Posted Credit Support held by the Secured
          Party.

         

        (b)  Return
          Amount.  Subject to Paragraphs 4 and 5, upon a demand
          made by the Pledgor on or promptly following a Valuation Date, if the Return
          Amount for that Valuation Date equals or exceeds the Secured Party’s Minimum
          Transfer Amount, then the Secured Party will Transfer to the Pledgor Posted
          Credit Support specified by the Pledgor in that demand having a Value as
          of the
          date of Transfer as close as practicable to the applicable Return Amount
          (rounded pursuant to Paragraph 13).  Unless otherwise specified in
          Paragraph 13, the “Return Amount” applicable to the Secured Party for any
          Valuation Date will equal the amount by which:

         

        (i)  the
          Value
          as of that Valuation Date of all Posted Credit Support held by the Secured
          Party

         

        exceeds

         

        (ii)  the
          Credit Support Amount.

         

        “Credit
          Support Amount” means, unless otherwise specified in Paragraph 13,
          for any Valuation Date (i) the Secured Party’s Exposure for that Valuation Date
          plus (ii) the aggregate of all Independent Amounts applicable to the Pledgor,
          if
          any, minus (iii) all Independent Amounts applicable to the Secured Party,
          if
          any, minus (iv) the Pledgor’s Threshold; provided, however, that the Credit
          Support Amount will be deemed to be zero whenever the calculation of Credit
          Support Amount yields a number less than zero.

         

        Paragraph
          4.  Conditions
          Precedent, Transfer Timing, Calculations and Substitutions

         

        (a)  Conditions
          Precedent.  Each Transfer obligation of the Pledgor
          under Paragraphs 3 and 5 and of the Secured Party under Paragraphs 3, 4(d)(ii),
          5 and 6(d) is subject to the conditions precedent that:

         

        (i)  no
          Event
          of Default, Potential Event of Default or Specified Condition has occurred
          and
          is continuing with respect to the other party; and

         

        (ii)  no
          Early
          Termination Date for which any unsatisfied payment obligations exist has
          occurred or been designated as the result of an Event of Default or Specified
          Condition with respect to the other party.

         

        (b)  Transfer
          Timing.  Subject to Paragraphs 4(a) and 5 and unless
          otherwise specified, if a demand for the Transfer of Eligible Credit Support
          or
          Posted Credit Support is made by the Notification Time, then the relevant
          Transfer will be made not later than the close of business on the next
          Local
          Business Day; if a demand is made after the Notification Time, then the
          relevant
          Transfer will be made not later than the close of business on the second
          Local
          Business Day thereafter.

         

        (c)  Calculations.  All
          calculations of Value and Exposure for purposes of Paragraphs 3 and 6(d)
          will be
          made by the Valuation Agent as of the Valuation Time.  The Valuation
          Agent will notify each party (or the other party, if the Valuation Agent
          is a
          party) of its calculations not later than the Notification Time on the
          Local
          Business Day following the applicable Valuation Date (or in the case of
          Paragraph 6(d), following the date of calculation).

         

         

        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

         

        (d)  Substitutions.

         

        (i)  Unless
          otherwise specified in Paragraph 13, upon notice to the Secured Party specifying
          the items of Posted Credit Support to be exchanged, the Pledgor may, on
          any
          Local Business Day, Transfer to the Secured Party substitute Eligible Credit
          Support (the “Substitute Credit Support”); and

         

        (ii)  subject
          to Paragraph 4(a), the Secured Party will Transfer to the Pledgor the items
          of
          Posted Credit Support specified by the Pledgor in its notice not later
          than the
          Local Business Day following the date on which the Secured Party receives
          the
          Substitute Credit Support, unless otherwise specified in Paragraph 13 (the
          “Substitution Date”); provided that the Secured Party will only be obligated to
          Transfer Posted Credit Support with a Value as of the date of Transfer
          of that
          Posted Credit Support equal to the Value as of that date of the Substitute
          Credit Support.

         

        Paragraph
          5.  Dispute
          Resolution

         

        If
          a
          party (a “Disputing Party”) disputes (I) the Valuation Agent’s calculation of a
          Delivery Amount or a Return Amount or (II) the Value of any Transfer of
          Eligible
          Credit Support or Posted Credit Support, then (I) the Disputing Party will
          notify the other party and the Valuation Agent (if the Valuation Agent
          is not
          the other party) not later than the close of business on the Local Business
          Day
          following (X) the date that the demand is made under Paragraph 3 in the
          case of
          (I) above or (Y) the date of Transfer in the case of (II) above, (2) subject
          to
          Paragraph 4(a), the appropriate party will Transfer the undisputed amount
          to the
          other party not later than the close of business on the Local Business
          Day
          following (X) the date that the demand is made under Paragraph 3 in the
          case of
          (I) above or (Y) the date of Transfer in the case of (II) above, (3) the
          parties
          will consult with each other in an attempt to resolve the dispute and (4)
          if
          they fail to resolve the dispute by the Resolution Time, then:

         

        (i)  In
          the
          case of a dispute involving a Delivery Amount or Return Amount, unless
          otherwise
          specified in Paragraph 13, the Valuation Agent will recalculate the Exposure
          and
          the Value as of the Recalculation Date by:

         

        (A)  utilizing
          any calculations of Exposure for the Transactions (or Swap Transactions)
          that
          the parties have agreed are not in dispute;

         

        (B)  calculating
          the Exposure for the Transactions (or Swap Transactions) in dispute by
          seeking
          four actual quotations at mid-market from Reference Market-makers for purposes
          of calculating Market Quotation, and taking the arithmetic average of those
          obtained; provided that if four quotations are not available for a particular
          Transaction (or Swap Transaction), then fewer than four quotations may
          be used
          for that Transaction (or Swap Transaction); and if no quotations are available
          for a particular Transaction (or Swap Transaction), then the Valuation
          Agent’s
          original calculations will be used for that Transaction (or Swap Transaction);
          and

         

        (C)  utilizing
          the procedures specified in Paragraph 13 for calculating the Value, if
          disputed,
          of Posted Credit Support.

         

        (ii)  In
          the
          case of a dispute involving the Value of any Transfer of Eligible Credit
          Support
          or Posted Credit Support, the Valuation Agent will recalculate the Value
          as of
          the date of Transfer pursuant to Paragraph 13.

         

        Following
          a recalculation pursuant to this Paragraph, the Valuation Agent will notify
          each
          party (or the other party, if the Valuation Agent is a party) not later
          than the
          Notification Time on the Local Business Day following the Resolution
          Time.  The appropriate party will, upon demand following that notice
          by the Valuation Agent or a resolution pursuant to (3) above and subject
          to
          Paragraphs 4(a) and 4(b), make the appropriate Transfer.

         

         

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

         

        Paragraph
          6.  Holding
          and Using Posted Collateral

         

        (a)  Care
          of Posted Collateral.  Without limiting the Secured
          Party’s rights under Paragraph 6(c), the Secured Party will exercise reasonable
          care to assure the safe custody of all Posted Collateral to the extent
          required
          by applicable law, and in any event the Secured Party will be deemed to
          have
          exercised reasonable care if it exercises at least the same degree of care
          as it
          would exercise with respect to its own property.  Except as specified
          in the preceding sentence, the Secured Party will have no duty with respect
          to
          Posted Collateral, including, without limitation, any duty to collect any
          Distributions, or enforce or preserve any rights pertaining
          thereto.

         

        (b)  Eligibility
          to Hold Posted Collateral; Custodians.

         

        (i)  General.  Subject
          to the satisfaction of any conditions specified in Paragraph 13 for holding
          Posted Collateral, the Secured Party will be entitled to hold Posted Collateral
          or to appoint an agent (a “Custodian”) to hold Posted Collateral for the Secured
          Party.  Upon notice by the Secured Party to the Pledgor of the
          appointment of a Custodian, the Pledgor’s obligations to make any Transfer will
          be discharged by making the Transfer to that Custodian.  The holding
          of Posted Collateral by a Custodian will be deemed to be the holding of
          that
          Posted Collateral by the Secured Party for which the Custodian is
          acting.

         

        (ii)  Failure
          to Satisfy Conditions.  If the Secured Parry or its
          Custodian fails to satisfy any conditions for holding Posted Collateral,
          then
          upon a demand made by the Pledgor, the Secured Party will, not later than
          five
          Local Business Days after the demand, Transfer or cause its Custodian to
          Transfer all Posted Collateral held by it to a Custodian that satisfies
          those
          conditions or to the Secured Party if it satisfies those
          conditions.

         

        (iii)  Liability.  The
          Secured Party will be liable for the acts or omissions of its Custodian
          to the
          same extent that the Secured Party would be liable hereunder for its own
          acts or
          omissions.

         

        (c)  Use
          of
          Posted Collateral Unless otherwise specified in Paragraph 13 and without
          limiting the rights and obligations of the parties under Paragraphs 3,
          4(d)
          (ii), 5, 6(d) and 8, if the Secured Party is not a Defaulting Party or
          an
          Affected Party with respect to a Specified Condition and no Early Termination
          Date has occurred or been designated as the result of an Event of Default
          or
          Specified Condition with respect to the Secured Patty, then the Secured
          Party
          will, notwithstanding Section 9-207 of the New York Uniform Commercial
          Code,
          have the right to:

         

        (i)  sell,
          pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose
          of,
          or otherwise use in its business any Posted Collateral it holds, free from
          any
          claim or right of any nature whatsoever of the Pledgor, including any equity
          or
          right of redemption by the Pledgor; and

         

        (ii)  register
          any Posted Collateral in the name of the Secured Party, its Custodian or
          a
          nominee for either.

         

        For
          purposes of the obligation to Transfer Eligible Credit Support or Posted
          Credit
          Support pursuant to Paragraphs 3 and 5 and any rights or remedies authorized
          under this Agreement, the Secured Party will be deemed to continue to hold
          all
          Posted Collateral and to receive Distributions made thereon, regardless
          of
          whether the Secured Party has exercised any rights with respect to any
          Posted
          Collateral pursuant to (i) or (ii) above.

         

        (d)  Distributions
          and Interest Amount

         

        (i)  Distributions.  Subject
          to Paragraph 4(a), if the Secured Party receives or is deemed to receive
          Distributions on a Local Business Day, it will Transfer to the Pledgor
          not later
          than the following Local Business Day any Distributions it receives or
          is deemed
          to receive to the extent that a Delivery Amount would not be created or
          increased by that Transfer, as calculated by the Valuation Agent (and the
          date
          of calculation will be deemed to be a Valuation Date for this
          purpose).

         

         

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

         

        (ii)  Interest
          Amount  Unless otherwise specified in Paragraph 13 and
          subject to Paragraph 4(a), in lieu of any interest, dividends or other
          amounts
          paid or deemed to have been paid with respect to Posted Collateral in the
          form
          of Cash (all of which may be retained by the Secured Party), the Secured
          Party
          will Transfer to the Pledgor at the times specified in Paragraph 13 the
          Interest
          Amount to the extent that a Delivery Amount would not be created or increased
          by
          that Transfer, as calculated by the Valuation Agent (and the date of calculation
          will be deemed to be a Valuation Date for this purpose). The Interest Amount
          or
          portion thereof not Transferred pursuant to this Paragraph will constitute
          Posted Collateral in the form of Cash and will be subject to the security
          interest granted under Paragraph 2.

         

        Paragraph
          7.  Events
          of Default

         

        For
          purposes of Section 5(a) (iii) (1) of this Agreement, an Event of Default
          will
          exist with respect to a party if:

         

        (i)  that
          party fails (or fails to cause its Custodian) to make, when due, any Transfer
          of
          Eligible Collateral.  Posted Collateral or the Interest Amount, as
          applicable, required to be made by it and that failure continues for two
          Local
          Business Days after notice of that failure is given to that party;

         

        (ii)  that
          party fails to comply with any restriction or prohibition specified in
          this
          Annex with respect to any of the rights specified in Paragraph 6(c) and
          that
          failure continues for five Local Business Days after notice of that failure
          is
          given to that party; or

         

        (iii)  that
          party fails to comply with or perform any agreement or obligation other
          than
          those specified in Paragraphs 7(i) and 7(ii) and that failure continues
          for 30
          days after notice of that failure is given to that party.

         

        Paragraph
          8.  Certain
          Rights and Remedies

         

        (a)  Secured
          Party’s Rights and Remedies.  If at any time (1) an
          Event of Default or Specified Condition with respect to the Pledgor has
          occurred
          and is continuing or (2) an Early Termination Date has occurred or been
          designated as the result of an Event of Default or Specified Condition
          with
          respect to the Pledgor, then, unless the Pledgor has paid in full all of
          its
          Obligations that are then due, the Secured Party may exercise one or more
          of the
          following rights and remedies:

         

        (i)  all
          rights and remedies available to a secured party under applicable law with
          respect to Posted Collateral held by the Secured Party;

         

        (ii)  any
          other
          rights and remedies available to the Secured Party under the terms of Other
          Posted Support, if any;

         

        (iii)  the
          right
          to Set-off any amounts payable by the Pledgor with respect to any Obligations
          against any Posted Collateral or the Cash equivalent of any Posted Collateral
          held by the Secured Party (or any obligation of the Secured Party to Transfer
          that Posted Collateral); and

         

        (iv)  the
          right
          to liquidate any Posted Collateral held by the Secured Party through one
          or more
          public or private sales or other dispositions with such notice, if any,
          as may
          be required under applicable law, free from any claim or right of any nature
          whatsoever of the Pledgor, including any equity or right of redemption
          by the
          Pledgor (with the Secured Party having the right to purchase any or all
          of the
          Posted Collateral to be sold) and to apply the proceeds (or the Cash equivalent
          thereof) from the liquidation of the Posted Collateral to any amounts payable
          by
          the Pledgor with respect to any Obligations in that order as the Secured
          Party
          may elect.

         

        Each
          party acknowledges and agrees that Posted Collateral in the form of securities
          may decline speedily in value and is of a type customarily sold on a recognized
          market, and, accordingly, the Pledgor is not entitled to prior notice of
          any
          sale of that Posted Collateral by the Secured Party, except any notice
          that is
          required under applicable law and cannot be waived.

         

         

        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

         

        (b)  Pledgor’s
          Rights and Remedies.  If at any time an Early
          Termination Date has occurred or been designated as the result of an Event
          of
          Default or Specified Condition with respect to the Secured Party, then
          (except
          in the case of an Early Termination Date relating to less than all Transactions
          (or Swap Transactions) where the Secured Party has paid in full all of
          its
          obligations that are then due under Section 6(e) of this
          Agreement):

         

        (i)  the
          Pledgor may exercise all rights and remedies available to a pledgor under
          applicable law with respect to Posted Collateral held by the Secured
          Party;

         

        (ii)  the
          Pledgor may exercise any other rights and remedies available to the Pledgor
          under the terms of Other Posted Support, if any;

         

        (iii)  the
          Secured Party will be obligated immediately to Transfer all Posted Collateral
          and the Interest Amount to the Pledgor; and

         

        (iv)  to
          the
          extent that Posted Collateral or the Interest Amount is not so Transferred
          pursuant to (iii) above, the Pledgor may:

         

        (A)  Set-off
          any amounts payable by the Pledgor with respect to any Obligations against
          any
          Posted Collateral or the Cash equivalent of any Posted Collateral held
          by the
          Secured Party (or any obligation of the Secured Party to Transfer that
          Posted
          Collateral); and

         

        (B)  to
          the
          extent that the Pledgor does not Set-off under (iv)(A) above, withhold
          payment
          of any remaining amounts payable by the Pledgor with respect to any Obligations,
          up to the Value of any remaining Posted Collateral held by the Secured
          Party,
          until that Posted Collateral is Transferred to the Pledgor.

         

        (c)  Deficiencies
          and Excess Proceeds.  The Secured Party will Transfer to
          the Pledgor any proceeds and Posted Credit Support remaining after liquidation,
          Set-off and/or application under Paragraphs 8(a) and 8(b) after satisfaction
          in
          full of all amounts payable by the Pledgor with respect to any Obligations;
          the
          Pledgor in all events will remain liable for any amounts remaining unpaid
          after
          any liquidation, Set-off and/or application under Paragraphs 8(a) and
          8(b).

         

        (d)  Final
          Returns.  When no amounts are or thereafter may become
          payable by the Pledgor with respect to any Obligations (except for any
          potential
          liability under Section 2(d) of this Agreement), the Secured Party will
          Transfer
          to the Pledgor all Posted Credit Support and the Interest Amount, if
          any.

         

        Paragraph
          9.  Representations

         

        Each
          party represents to the other party (which representations will be deemed
          to be
          repeated as of each date on which it, as the Pledgor, Transfers Eligible
          Collateral) that:

         

        (i)  it
          has
          the power to grant a security interest in and lien on any Eligible Collateral
          it
          Transfers as the Pledgor and has taken all necessary actions to authorize
          the
          granting of that security interest and lien;

         

        (ii)  it
          is the
          sole owner of or otherwise has the right to Transfer all Eligible Collateral
          it
          Transfers to the Secured Party hereunder, free and clear of any security
          interest, lien, encumbrance or other restrictions other than the security
          interest and lien granted under Paragraph 2;

         

        (iii)  upon
          the
          Transfer of any Eligible Collateral to the Secured Party under the terms
          of this
          Annex, the Secured Party will have a valid and perfected first priority
          security
          interest therein (assuming that any central clearing corporation or any
          third-party financial intermediary or other entity not within the control
          of the
          Pledgor involved in the Transfer of that Eligible Collateral gives the
          notices
          and takes the action required of it under applicable law for perfection
          of that
          interest); and

         

        (iv)  the
          performance by it of its obligations under this Annex will not result in
          the
          creation of any security interest, lien or other encumbrance on any Posted
          Collateral other than the security interest and lien granted under Paragraph
          2.

         

         

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

         

        Paragraph
          10.  Expenses

         

        (a)  General.  Except
          as otherwise provided in Paragraphs 10(b) and 10(c), each party will pay
          its own
          costs and expenses in connection with performing its obligations under
          this
          Annex and neither party will be liable at any costs and expenses incurred
          by the
          other party in connection herewith.

         

        (b)  Posted
          Credit Support.  The Pledgor will promptly pay when due
          all taxes, assessments or charges of any nature that are imposed with respect
          to
          Posted Credit Support held by the Secured Party upon becoming aware of
          the same,
          regardless of whether any portion of that Posted Credit Support is subsequently
          disposed of under Paragraph 6(c), except for those taxes, assessments and
          charges that result from the exercise of the Secured Party’s rights under
          Paragraph 6(c).

         

        (c)  Liquidation/Application
          of Posted Credit Support.  All reasonable costs and
          expenses incurred by or on behalf of the Secured Party or the Pledgor in
          connection with the liquidation and/or application of any Posted Credit
          Support
          under Paragraph 8 will be payable, on demand and pursuant to the Expenses
          Section of this Agreement, by the Defaulting Party or, if there is no Defaulting
          Party, equally by the parties.

         

        Paragraph
          11.  Miscellaneous

         

        (a)  Default
          Interest.  A Secured Party that fails to make, when due,
          any Transfer of Posted Collateral or the Interest Amount will be obligated
          to
          pay the Pledgor (to the extent permitted under applicable law) an amount
          equal
          to interest at the Default Rate multiplied by the Value of the items of
          property
          that were required to be Transferred, from (and including) the date that
          Posted
          Collateral or Interest Amount was required to be Transferred to (but excluding)
          the date of Transfer of that Posted Collateral or Interest
          Amount.  This interest will be calculated on the basis of daily
          compounding and the actual number of days elapsed.

         

        (b)  Further
          Assurances.  Promptly following a demand made by a
          party, the other party will execute, deliver, file and record any financing
          statement, specific assignment or other document and take any other action
          that
          may be necessary or desirable and reasonably requested by that party to
          create,
          preserve, perfect or validate any security interest or lien granted under
          Paragraph 2, to enable that party to exercise or enforce its rights under
          this
          Annex with respect to Posted Credit Support or an Interest Amount or to
          effect
          or document a release of a security interest on Posted Collateral or an
          Interest
          Amount.

         

        (c)  Further
          Protection.  The Pledgor will promptly give notice to
          the Secured Party of, and defend against, any suit, action, proceeding
          or lien
          that involves Posted Credit Support Transferred by the Pledgor or that
          could
          adversely affect the security interest and lien granted by it under Paragraph
          2,
          unless that suit, action, proceeding or lien results from the exercise
          of the
          Secured Party’s rights under Paragraph 6(c).

         

        (d)  Good
          Faith and Commercially Reasonable Manner.  Performance
          of all obligations under this Annex, including, but not limited to, all
          calculations, valuations and determinations made by either party, will
          be made
          in good faith and in a commercially reasonable manner.

         

        (e)  Demands
          and Notices.  All demands and notices made by a party
          under this Annex will be made as specified in the Notices Section of this
          Agreement, except as otherwise provided in Paragraph 13.

         

        (f)  Specifications
          of Certain Matters.  Anything referred to in this Annex
          as being specified in Paragraph 13 also may be specified in one or more
          Confirmations or other documents and this Annex will be construed
          accordingly.

         

         

        
          
            
            

          

          
            7

            
              

            

          

          
            
            

          

        

         

        Paragraph
          12.  Definitions

         

        As
          used
          in this Annex:

         

        “Cash”
          means the lawful currency of the United States of America.

         

        “Credit
          Support Amount” has the meaning specified in Paragraph
          3.

         

        “Custodian”
          has the meaning specified in Paragraphs 6(b) (i) and 13.

         

        “Delivery
          Amount” has the meaning specified in Paragraph 3(a).

         

        “Disputing
          Party” has the meaning specified in Paragraph 5.

         

        “Distributions”
          means with respect to Posted Collateral other than Cash, all principal,
          interest
          and other payments and distributions of cash or other property with respect
          thereto, regardless of whether the Secured Party has disposed of that Posted
          Collateral under Paragraph 6(c).  Distributions will not include any
          item of property acquired by the Secured Party upon any disposition or
          liquidation of Posted Collateral or, with respect to any Posted Collateral
          in
          the form of Cash, any distributions on that collateral, unless otherwise
          specified herein.

         

        “Eligible
          Collateral” means, with respect to a party, the items, if any,
          specified as such for that party in Paragraph 13.

         

        “Eligible
          Credit Support” means Eligible Collateral and Other Eligible
          Support.

         

        “Exposure”
          means for any Valuation Date or other date for which Exposure is calculated
          and
          subject to Paragraph 5 in the case of a dispute, the amount, if any, that
          would
          be payable to a party that is the Secured Party by the other party (expressed
          as
          a positive number) or by a party that is the Secured Party to the other
          party
          (expressed as a negative number) pursuant to Section 6(e)(ii)(2)(A) of
          this
          Agreement as if all Transactions (or Swap Transactions) were being terminated
          as
          of the relevant Valuation Time; provided that Market Quotation will be
          determined by the Valuation Agent using its estimates at mid-market of
          the
          amounts that would be paid for Replacement Transactions (as that term is
          defined
          in the definition of “Market Quotation”).

         

        “Independent
          Amount” means, with respect to a party, the amount specified as
          such for that party in Paragraph 13; if no amount is specified,
          zero.

         

        “Interest
          Amount” means, with respect to an Interest Period, the aggregate
          sum of the amounts of interest calculated for each day in that Interest
          Period
          on the principal amount of Posted Collateral in the form of Cash held by
          the
          Secured Party on that day, determined by the Secured Party for each such
          day as
          follows:

         

        (x)           the
          amount of that Cash on that day; multiplied by

         

        (y)           the
          Interest Rate in effect for that day; divided by

         

        (z)           360.

         

        “Interest
          Period” means the period from (and including) the last Local
          Business Day on which an Interest Amount was Transferred (or, if no Interest
          Amount has yet been Transferred, the Local Business Day on which Posted
          Collateral in the form of Cash was Transferred to or received by the Secured
          Party) to (but excluding) the Local Business Day on which the current Interest
          Amount is to be Transferred.

         

        “Interest
          Rate” means the rate specified in Paragraph 13.

         

        “Local
          Business Day,” unless otherwise specified in Paragraph 13, has the
          meaning specified in the Definitions Section of this Agreement, except
          that
          references to a payment in clause (b) thereof will be deemed to include
          a
          Transfer under this Annex.

         

         

        
          
            
            

          

          
            8

            
              

            

          

          
            
            

          

        

         

        “Minimum
          Transfer Amount” means, with respect to a party, the amount
          specified as such for that party in Paragraph 13; if no amount is specified,
          zero.

         

        “Notification
          Time” has the meaning specified in Paragraph 13.

         

        “Obligations”
          means, with respect to a party, all present and future obligations of that
          party
          under this Agreement and any additional obligations specified for that
          party in
          Paragraph 13.

         

        “Other
          Eligible Support” means, with respect to a party, the items, if
          any, specified as such for that party in Paragraph 13.

         

        “Other
          Posted Support” means all Other Eligible Support Transferred to
          the Secured Party that remains in effect for the benefit of that Secured
          Party.

         

        “Pledgor”
          means either party, when that party (i) receives a demand for or is required
          to
          Transfer Eligible Credit Support under Paragraph 3(a) or (ii) has Transferred
          Eligible Credit Support under Paragraph 3(a).

         

        “Posted
          Collateral” means all Eligible Collateral, other property,
          Distributions, and all proceeds thereof that have been Transferred to or
          received by the Secured Party under this Annex and not Transferred to the
          Pledgor pursuant to Paragraph 3(b), 4(d)(ii) or 6(d)(i) or released by
          the
          Secured Party under Paragraph 8.  Any Interest Amount or portion
          thereof not Transferred pursuant to Paragraph 6(d) (ii) will constitute
          Posted
          Collateral in the form of Cash.

         

        “Posted
          Credit Support” means Posted Collateral and Other Posted
          Support.

         

        “Recalculation
          Date” means the Valuation Date that gives rise to the dispute
          under Paragraph 5: provided, however, that if a subsequent Valuation Date
          occurs
          under Paragraph 3 prior to the resolution of the dispute, then the
“Recalculation Date” means the most recent Valuation Date under Paragraph
          3.

         

        “Resolution
          Time” has the meaning specified in Paragraph 13.

         

        “Return
          Amount” has the meaning specified in Paragraph 3(b).

         

        “Secured
          Party” means either party, when that party (i) makes a demand for
          or is entitled to receive Eligible Credit Support under Paragraph 3(a)
          or (ii)
          holds or is deemed to hold Posted Credit Support.

         

        “Specified
          Condition” means, with respect to a party, any event specified as
          such for that party in Paragraph 13.

         

        “Substitute
          Credit Support” has the meaning specified in Paragraph 4(d)
          (i).

         

        “Substitution
          Date” has the meaning specified in Paragraph 4(d)
          (ii).

         

        “Threshold”
          means, with respect to a party, the amount specified as such for that party
          in
          Paragraph 13; if no amount is specified, zero.

         

        “Transfer”
          means, with respect to any Eligible Credit Support, Posted Credit Support
          or
          Interest Amount, and in accordance with the instructions of the Secured
          Party,
          Pledgor or Custodian, as applicable:

         

        (i)  in
          the
          case of Cash, payment or delivery by wire transfer into one or more bank
          accounts specified by the recipient;

         

        (ii)  in
          the
          case of certificated securities that cannot be paid or delivered by book-entry,
          payment or delivery in appropriate physical form to the recipient or its
          account
          accompanied by any duly executed instruments of transfer, assignments in
          blank,
          transfer tax stamps and any other documents necessary to constitute a legally
          valid transfer to the recipient;

         

        (iii)  in
          the
          case of securities that can be paid or delivered by book-entry, the giving
          of
          written instructions to the relevant depository institution or other entity
          specified by the recipient, together with a written copy thereof to the
          recipient, sufficient if complied with to result in a legally effective
          transfer
          of the relevant interest to the recipient; and

         

        (iv)  in
          the
          case of Other Eligible Support or Other Posted Support, as specified in
          Paragraph 13.

         

         

        
          
            
            

          

          
            9

            
              

            

          

          
            
            

          

        

         

        “Valuation
          Agent” has the meaning specified in Paragraph 13.

         

        “Valuation
          Date” means each date specified in or otherwise determined
          pursuant to Paragraph 13.

         

        “Valuation
          Percentage” means, for any item of Eligible Collateral, the
          percentage specified in Paragraph 13.

         

        “Valuation
          Time” has the meaning specified in Paragraph 13.

         

        “Value”
          means for any Valuation Date or other date for which Value is calculated
          and
          subject to Paragraph 5 in the case of a dispute, with respect to:

         

        (i)  Eligible
          Collateral or Posted Collateral that is:

         

        (A)  Cash,
          the
          amount thereof; and

         

        (B)  a
          security, the bid price obtained by the Valuation Agent multiplied by the
          applicable Valuation Percentage, if any;

         

        (i)  Posted
          Collateral that consists of items that are not specified as Eligible Collateral,
          zero; and

         

        (ii)  Other
          Eligible Support and Other Posted Support, as specified in Paragraph
          13.

         

      

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

    

     

    Paragraph
      13.  Elections and Variables.

     

    
      	
              (a)

            	
              Security
                Interest for “Obligations”. The
                term“Obligations” as used in this Annex includes
                the following additional
                obligations:

            

    

     

    With
      respect to Party A:  not applicable.

     

    With
      respect to Party B:  not applicable.

     

    
      	
              (b)

            	
              Credit
                Support Obligations.

            

    

     

    
      	
               

            	
              (i)

            	
              Delivery
                Amount, Return Amount and Credit Support
                Amount.

            

    

     

    
      	
               

            	
              (A)

            	
              “Delivery
                Amount” has the meaning specified in Paragraph 3(a) as
                amended (I) by deleting the words “upon a demand made by the Secured Party
                on or promptly following a Valuation Date” and inserting in lieu thereof
                the words “not later than the close of business on each Valuation Date”
                and (II) by deleting in its entirety the sentence beginning “Unless
                otherwise specified in Paragraph 13” and ending “(ii) the Value as of that
                Valuation Date of all Posted Credit Support held by the Secured Party.”
                and inserting in lieu thereof the
                following:

            

    

     

    The
      “Delivery Amount” applicable to the Pledgor for any
      Valuation Date will equal the greatest of:

     

    
      	
               

            	
              (1)

            	
              the
                amount by which (a) the S&P Approved Ratings Credit Support Amount for
                such Valuation Date exceeds (b) the S&P Approved Ratings Value as of
                such Valuation Date of all Posted Credit Support held by the Secured
                Party,

            

    

     

    
      	
               

            	
              (2)

            	
              the
                amount by which (a) the S&P Required Ratings Credit Support Amount for
                such Valuation Date exceeds (b) the S&P Required Ratings Value as of
                such Valuation Date of all Posted Credit Support held by the Secured
                Party,

            

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              (3)

            	
              the
                amount by which (a) the Moody’s First Trigger Credit Support Amount for
                such Valuation Date exceeds (b) the Moody’s First Trigger Value as of such
                Valuation Date of all Posted Credit Support held by the Secured Party,
                and

            

    

     

    
      	
               

            	
              (4)

            	
              the
                amount by which (a) the Moody’s Second Trigger Credit Support Amount for
                such Valuation Date exceeds (b) the Moody’s Second Trigger Value as of
                such Valuation Date of all Posted Credit Support held by the Secured
                Party.

            

    

     

    
      	
               

            	
              (B)

            	
              “Return
                Amount” has the meaning specified in Paragraph 3(b) as
                amended by deleting in its entirety the sentence beginning “Unless
                otherwise specified in Paragraph 13” and ending “(ii) the Credit Support
                Amount.” and inserting in lieu thereof the
                following:

            

    

     

    The
      “Return Amount” applicable to the Secured Party for
      any Valuation Date will equal the least of:

     

    
      	
               

            	
              (1)

            	
              the
                amount by which (a) the S&P Approved Ratings Value as of such
                Valuation Date of all Posted Credit Support held by the Secured Party
                exceeds (b) the S&P Approved Ratings Credit Support Amount for such
                Valuation Date,

            

    

     

    
      	
               

            	
              (2)

            	
              the
                amount by which (a) the S&P Required Ratings Value as of such
                Valuation Date of all Posted Credit Support held by the Secured Party
                exceeds (b) the S&P Required Ratings Credit Support Amount for such
                Valuation Date,

            

    

     

    
      	
               

            	
              (3)

            	
              the
                amount by which (a) the Moody’s First Trigger Value as of such Valuation
                Date of all Posted Credit Support held by the Secured Party exceeds
                (b)
                the Moody’s First Trigger Credit Support Amount for such Valuation Date,
                and

            

    

     

    
      	
               

            	
              (4)

            	
              the
                amount by which (a) the Moody’s Second Trigger Value as of such Valuation
                Date of all Posted Credit Support held by the Secured Party exceeds
                (b)
                the Moody’s Second Trigger Credit Support Amount for such Valuation
                Date.

            

    

     

    
      	
               

            	
              (C)

            	
              “Credit
                Support Amount” shall not apply. For purposes of calculating
                any Delivery Amount or Return Amount for any Valuation Date, reference
                shall be made to the S&P Approved Ratings Credit Support Amount, the
                S&P Required Ratings Credit Support Amount, the Moody’s First Trigger
                Credit Support Amount or the Moody’s Second Trigger Credit Support Amount,
                in each case for such Valuation Date, as provided in Paragraphs
                13(b)(i)(A) and 13(b)(i)(B), above.

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              (ii)

            	
              Eligible
                Collateral.

            

    

     

    On
      any
      date, the following items will qualify as “Eligible
      Collateral”:

     

    
      	
              Collateral

            	
              S&P
                Approved Ratings Valuation Percentage

            	
              S&P
                Required Ratings Valuation Percentage

            	
              Moody’s
                First Trigger Valuation Percentage

            	
              Moody’s
                Second Trigger Valuation Percentage

            
	 	 	 	 	 
	
              (A)      Cash

            	
              100%

            	
              80%

            	
              100%

            	
              100%

            
	 	 	 	 	 
	
              (B)  Fixed-rate
                negotiable USD
                denominated debt obligations issued by the U.S. Treasury Department
                having
                a remaining maturity on such date of less than one year

            	
              98.04%

            	
              78.43%

            	
              l00%

            	
              100%

            
	 	 	 	 	 
	
              (C)  Fixed-rate
                negotiable USD denominated debt obligations issued by the U.S. Treasury
                Department having a remaining maturity on such date of one year or
                more
                but less than five years

            	
              98.04%

            	
              78.43%

            	
              100%

            	
              97%

            
	 	 	 	 	 
	
              (D)  Fixed-rate
                negotiable USD denominated debt obligations issued by the U.S. Treasury
                Department having a remaining maturity on such date of five years
                or more
                but less than ten years

            	
              92.59%

            	
              74.07%

            	
              100%

            	
              94%

            

    

     

     

    
      	
               

            	
              (iii)

            	
              
                Other
                  Eligible
                  Support.

              

            

    

     

    The
      following items will qualify as “Other Eligible
      Support” for the party specified:

     

    Not
      applicable.

    
       

      
        	
                 

              	
                (iv)

              	
                
                  
                    Threshold.

                  

                

              

      

       

    

    
      	
               

            	
              (A)

            	
              “Independent
                Amount” means zero with respect to Party A and Party
                B.

            

    

     

    
      	
               

            	
              (B)

            	
              “Threshold”
                means, with respect to Party A and any Valuation Date, zero if a
                Collateral Event has occurred and has been continuing (i) for at
                least 30
                Local Business Days if such Collateral Event is attributable to credit
                ratings of Moody’s, (ii) for at least 10 Local Business Days if such
                Collateral Event is attributable to credit ratings of S&P or (iii)
                since this Annex was executed; otherwise,
                infinity.

            

    

     

    “Threshold”
      means, with respect to Party B and any Valuation Date, infinity.

     

    
      	
               

            	
              (C)

            	
              “Minimum
                Transfer Amount” means USD 100,000 with respect to Party A
                and Party B; provided, however, that if the aggregate Class Certificate
                Balance of the Certificates rated by S&P ceases to be more than USD
                50,000,000, the “Minimum Transfer Amount” shall
                be USD 50,000.

            

    

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              (D)

            	
              Rounding:
                The Delivery Amount will be rounded up to the nearest integral multiple
                of
                USD 10,000. The Return Amount will be rounded down to the nearest
                integral
                multiple of USD 1,000.

            

    

     

    
      	
              (c)

            	
              Valuation
                and Timing.

            

    

     

    
      	
               

            	
              (i)

            	
              “Valuation
                Agent” means Party A; provided, however, that if an Event
                of
                Default shall have occurred with respect to which Party A is the
                Defaulting Party, Party B shall have the right to designate as Valuation
                Agent an independent party, reasonably acceptable to Party A, the
                cost for
                which shall be borne by Party A. All calculations by the Valuation
                Agent
                must be made in accordance with standard market practice, including,
                in
                the event of a dispute as to the Value of any Eligible Credit Support
                or
                Posted Credit Support, by making reference to quotations received
                by the
                Valuation Agent from one or more Pricing
                Sources.

            

    

     

    
      	
               

            	
              (ii)

            	
              “Valuation
                Date” means each Local Business Day on which any of the
                S&P Approved Ratings Credit Support Amount, the S&P Required
                Ratings Credit Support Amount, the Moody’s First Trigger Credit Support
                Amount or the Moody’s Second Trigger Credit Support Amount is greater than
                zero.

            

      	 	 	 

      	 	
              (iii)

            	“Valuation
              Time” means the close of business in the city of the
              Valuation Agent on the Local Business Day immediately preceding the
              Valuation Date or date of calculation, as applicable; provided that
              the
              calculations of Value and Exposure will be made as of approximately
              the
              same time on the same date.

      	 	 	 

      	 	(iv)	
              “Notification
                Time” means 11:00 a.m., New York time, on a Local Business
                Day.

            

    

     

    
      	
               

            	
              (v)

            	
              [Reserved]

            

      	 	 	 

      	 	(vi)	
              [Reserved]

            

    

     

    
      	
              (d)

            	
              Conditions
                Precedent and Secured Party’s Rights and Remedies. The
                following Termination Events will be a “Specified
                Condition” for the party specified (that party being the
                Affected Party if the Termination Event occurs with respect to that
                party): With respect to Party A: any Additional Termination Event
                with
                respect to which Party A is the sole Affected Party. With respect
                to Party
                B: None.

            

    

     

    
      	
              (e)

            	
              Substitution.

            

    

     

    
      	
               

            	
              (i)

            	
              “Substitution
                Date” has the meaning specified in Paragraph
                4(d)(ii).

            

    

     

    
      	
               

            	
              (ii)

            	
              Consent.
                If specified here as applicable, then the Pledgor must obtain the
                Secured
                Party’s consent for any substitution pursuant to Paragraph 4(d):
                Inapplicable.

            

    

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    
      	
              (f)

            	
              Dispute
                Resolution.

            

    

     

    
      	
               

            	
              (i)

            	
              “Resolution
                Time” means 1:00 p.m. New York time on the Local Business
                Day following the date on which the notice of the dispute is given
                under
                Paragraph 5.

            

    

     

    
      	
               

            	
              (ii)

            	
              Value.
                Notwithstanding anything to the contrary in Paragraph 12, for the
                purpose
                of Paragraphs 5(i)(C) and 5(ii), the S&P Approved Ratings Value, the
                S&P Required Ratings Value, the Moody’s First Trigger Value and the
                Moody’s Second Trigger Value, on any date, of Eligible Collateral will
                be
                calculated as follows:

            

    

     

    For
      Eligible Collateral in the form of securities listed in Paragraph 13(b)(ii):
      the
      sum of (A) the product of (1)(x) the bid price at the Valuation Time for such
      securities on the principal national securities exchange on which such
      securities are listed or (y) if such securities are not listed on a national
      securities exchange, the bid price for such securities quoted at the Valuation
      Time by any principal market maker for such securities selected by the Valuation
      Agent or (z) if no such bid price is listed or quoted for such date, the bid
      price listed or quoted (as the case may be) at the Valuation Time for the day
      next preceding such date on which such prices were available and (2) the
      applicable Valuation Percentage for such Eligible Collateral and (B) the accrued
      interest on such securities (except to the extent Transferred to the Pledgor
      pursuant to Paragraph 6(d)(ii) or included in the applicable price referred
      to
      in the immediately preceding clause (A)) as of such date. For Eligible
      Collateral in the form of Cash, the product of (1) the amount of such Cash
      and
      (2) the applicable Valuation Percentage.

     

    
      	 	(iii)	Alternative.
              The provisions of Paragraph 5 will
              apply.

      	 	 	 

      	 	(iv)	
              Paragraph
                5 is amended by deleting the words “(X) the date that the demand is made
                under Paragraph 3 in the case of (I) above” in the fourth and seventh
                lines of such paragraph and inserting in lieu thereof the words “(X) the
                date that the delivery is made under Paragraph 3(a) or the date that
                the
                demand is made under Paragraph 3(b) in the case of (I)
                above”.

            

      	 	 	 

      	
               

            	
              (v)

            	
              For
                purposes of Paragraph 5(i)(B), Market Quotation shall have the meaning
                given to such term in Section 14 of the
                Agreement.

            

    

     

    
      	
              (g)

            	
              Holding
                and Using Posted
                Collateral.

            

    

     

    
      
        	
                 

              	
                (i)

              	
                Eligibility
                  to Hold Posted Collateral; Custodians. Party B (or any
                  Custodian) will be entitled to hold Posted Collateral pursuant
                  to
                  Paragraph 6(b) so long as Party B (or any Custodian) is a financial
                  institution located in the United States having total assets of
                  at least
                  $250,000,000 and (i) a short term unsecured and unsubordinated
                  debt or
                  counterparty rating of “Prime-1” from Moody’s and (ii) a short-term
                  unsecured and unsubordinated debt rating from S&P of “A-1” or, if such
                  entity does not have a short-term unsecured and unsubordinated
                  debt rating
                  from S&P, a long-term unsecured and unsubordinated debt rating from
                  S&P of “A+”.

              

      

    

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    
      	
            	
              In
                the event that Party B (or any Custodian) no longer satisfies the
                credit
                ratings of S&P set forth in clause (ii) above, Party B shall cause any
                Posted Collateral to be moved to another financial institution satisfying
                such credit ratings in clause (ii) above within 60 calendar
                days.

            

    

     

    Initially,
      the Custodian for Party B is: The Bank of New York.

     

    
      	
               

            	
              (ii)

            	
              Use
                of Posted Collateral. The provisions of Paragraph 6(c)(i)
                will not apply to Party B, but the provisions of Paragraph 6(c)(ii)
                will
                apply to Party B.

            

    

     

    
      	
              (h)

            	
              Distributions
                and Interest Amount.

            

    

     

    
      	
               

            	
              (i)

            	
              Interest
                Rate. The “Interest Rate” will be the actual interest rate
                earned on Posted Collateral in the form of Cash that is held by Party
                B or
                its Custodian.

            

    

     

    
      	
               

            	
              (ii)

            	
              Transfer
                of Interest Amount. The Transfer of the Interest Amount will
                be made on the second Local Business Day following the end of each
                calendar month and on any other Local Business Day on which Posted
                Collateral in the form of Cash is Transferred to the Pledgor pursuant
                to
                Paragraph 3(b); provided, however, that the obligation of Party B
                to
                Transfer any Interest Amount to Party A shall be limited to the extent
                that Party B has earned and received such funds and such funds are
                available to Party B.

            

      	 	 	 

      	 	(iii)	Alternative
              to Interest Amount. The provisions of Paragraph 6(d)(ii) will
              apply.

    

     

    
      	
              (i)

            	
              Additional
                Representation(s). There are no additional representations
                by either party.

            

    

     

    
      	
              (j)

            	
              Other
                Eligible Support and Other Posted
                Support.

            

    

     

    
      	
               

            	
              (i)

            	
              “Value”
                with respect to Other Eligible Support and Other Posted Support means:
                not
                applicable.

            

    

     

    
      	
               

            	
              (ii)

            	
              “Transfer”
                with respect to Other Eligible Support and Other Posted Support means:
                not
                applicable.

            

    

     

    
      	
              (k)

            	
              Demands
                and Notices. All demands, specifications and notices under
                this Annex will be made pursuant to the Notices Section of this Agreement,
                except that any demand, specification or notice shall be given to
                or made
                at the following addresses or at such other address as the relevant
                party
                may from time to time designate by giving notice (in accordance with
                the
                terms of this paragraph) to the other
                party:

            

    

     

    If
      to
      Party B’s Custodian, at the address specified for Party B pursuant to the
      Notices Section of this Agreement

     

    
      	
              (l)

            	
              Address
                for Transfers. Each Transfer hereunder shall be made to an
                address specified in writing from time to time by the party to which
                such
                Transfer will be made.

            

    

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    
      	
              (m)

            	
              Other
                Provisions.

            

    

     

    
      	
               

            	
              (i)

            	
              Collateral
                Account. In the event that the Threshold applicable to Party
                A has been reduced to zero, Party B shall open and maintain a segregated
                account, and hold, record and identify all Posted Collateral in such
                segregated account.

            

    

     

    
      	
               

            	
              (ii)

            	
              Agreement
                as to Single Secured Party and Single Pledgor. Party A and
                Party B hereby agree that, notwithstanding anything to the contrary
                in
                this Annex, (a) the term “Secured Party” as used in this Annex means only
                Party B, (b) the term “Pledgor” as used in this Annex means only Party A,
                (c) only Party A makes the pledge and grant in Paragraph 2, the
                acknowledgement in the final sentence of Paragraph 8(a) and the
                representations in Paragraph 9.

            

      	 	 	 

      	 	(iii)	Calculation
              of Value. Paragraph 4(c) is hereby amended by deleting the
              word “Value” and inserting in lieu thereof “S&P Approved Ratings
              Value, S&P Required Ratings Value, Moody’s First Trigger Value,
              Moody’s Second Trigger Value”. Paragraph 4(d)(ii) is hereby amended by (A)
              deleting the words “a Value” and inserting in lieu thereof “an S&P
              Approved Ratings Value, S&P Required Ratings Value, Moody’s First
              Trigger Value or Moody’s Second Trigger Value, as applicable” and (B)
              deleting the words “the Value” and inserting in lieu thereof “the S&P
              Approved Ratings Value, S&P Required Ratings Value, Moody’s First
              Trigger Value or Moody’s Second Trigger Value, as applicable”. Paragraph 5
              (flush language) is hereby amended by deleting the word “Value” and
              inserting in lieu thereof “S&P Approved Ratings Value, S&P
              Required Ratings Value, Moody’s First Trigger Value or Moody’s Second
              Trigger Value, as applicable”. Paragraph 5(i) (flush language) is hereby
              amended by deleting the word “Value” and inserting in lieu thereof
              “S&P Approved Ratings Value, S&P Required Ratings Value, Moody’s
              First Trigger Value or Moody’s Second Trigger Value, as applicable”.
              Paragraph 5(i)(C) is hereby amended by deleting the word “Value” and
              inserting in lieu thereof “the S&P Approved Ratings Value, S&P
              Required Ratings Value, Moody’s First Trigger Value or Moody’s Second
              Trigger Value, as applicable”. Paragraph 5(ii) is hereby amended by (1)
              deleting the first instance of the words “the Value” and inserting in lieu
              thereof “any one or more of the S&P Approved Ratings Value, S&P
              Required Ratings Value, Moody’s First Trigger Value or Moody’s Second
              Trigger Value” and (2) deleting the second instance of the words “the
              Value” and inserting in lieu thereof “such disputed S&P Approved
              Ratings Value, S&P Required Ratings Value, Moody’s First Trigger Value
              or Moody’s Second Trigger Value, as applicable”. Each of Paragraph
              8(b)(iv)(B) and Paragraph 11(a) is hereby amended by deleting the word
              “Value” and inserting in lieu thereof “least of the S&P Approved
              Ratings Value, S&P Required Ratings Value, Moody’s First Trigger Value
              and Moody’s Second Trigger Value”.

      	 	 	 

      	 	(iv)	[Reserved]

    

     

    
      	
               

            	
              (v)

            	
              Events
                of Default. Paragraph 7 will not apply to cause any Event of
                Default to exist with respect to Party B except that Paragraph 7(i)
                will
                apply to Party B solely in respect of Party B’s obligations under
                Paragraph 3(b) of the Credit Support Annex. Notwithstanding anything
                to
                the contrary in Paragraph 7, any failure by Party A to comply with
                or
                perform any obligation to be complied with or performed by Party
                A under
                the Credit Support Annex shall only be an Event of Default if (i)
                a
                Moody’s Second Trigger Ratings Event has occurred and been continuing for
                30 or more Local Business Days or (ii) an S&P Required Ratings Event
                has occurred and been continuing for 10 or more Local Business
                Days.

            

    

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	(vi)	
              Expenses.
                Notwithstanding anything to the contrary in Paragraph 10, the Pledgor
                will
                be responsible for, and will reimburse the Secured Party for, all
                transfer
                and other taxes and other costs involved in any Transfer of Eligible
                Collateral.

            

      	 	 	 

      	 	(vii)	Withholding.
              Paragraph 6(d)(ii) is hereby amended by inserting immediately after
“the
              Interest Amount” in the fourth line thereof the words “less any applicable
              withholding taxes.”

      	 	 	 

      	 	(viii)	Notice
              of Failure to Post Collateral. Upon any failure by Party A
              to post Eligible Collateral as required under this Agreement, Party
              B
              shall, no later than the next Business Day after the date such Eligible
              Collateral was required to be posted, give a written notice of such
              failure to Party A and to the Depositor. For the avoidance of doubt,
              notwithstanding anything in this Agreement to the contrary, the failure
              of
              Party B to comply with the requirements of this paragraph shall not
              constitute an Event of Default or Termination
              Event.

      	 	 	 

      	 	(ix)	Additional
              Definitions. As used in this
              Annex:

    

     

    “Collateral
      Event” means that neither Party A nor any Eligible Guarantor of
      Party A under an Eligible Guarantee has credit ratings at least equal to the
      Moody’s First Trigger Ratings Threshold or the S&P Approved Ratings
      Threshold (or, in the case of an entity that is not a Financial Institution,
      credit ratings from S&P at least equal to the credit ratings set forth in
      clause (ii) of the definition of S&P Required Ratings
      Threshold).

     

    “Exposure”
      has the meaning specified in Paragraph 12, except that (i) after the word
“Agreement” the words “(assuming, for this purpose only, that Part 1(f) of the
      Schedule is deleted)” shall be inserted and (ii) Replacement Transactions shall
      have the meaning given to such term in the definition of “Market Quotation” in
      Section 14 of the Agreement.

     

    “Local
      Business Day” means: any day on which (A) commercial banks are
      open for business (including dealings in foreign exchange and foreign currency
      deposits) in New York and the location of Party A, Party B and any Custodian
      and
      (B) in relation to a Transfer of Eligible Collateral, any day on which the
      clearance system agreed between the parties for the delivery of Eligible
      Collateral is open for acceptance and execution of settlement instructions
      (or
      in the case of a Transfer of Cash or other Eligible Collateral for which
      delivery is contemplated by other means a day on which commercial banks are
      open
      for business (including dealings in foreign exchange and foreign deposits)
      in
      New York and the location of Party A, Party B and any Custodian.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    “Moody’s
      First Trigger Credit Support Amount” means, for any Valuation
      Date, the excess, if any, of:

     

    
      	
               

            	
              (I)

            	
              (A)

            	
              for
                any Valuation Date on which (i) a Moody’s First Trigger Failure Condition
                has occurred and has been continuing (x) for at least 30 Local Business
                Days or (y) since this Annex was executed and (ii) it is not the
                case that
                a Moody’s Second Trigger Failure Condition has occurred and been
                continuing for at least 30 Local Business Days, an amount equal to
                the
                greater of (a) zero and (b) the sum of the Secured Party’s Exposure and
                the aggregate of Moody’s Additional Collateralized Amounts for each
                Transaction.

            

    

     

    For
      the
      purposes of this definition, the “Moody’s Additional Collateralized
      Amount” with respect to any Transaction shall mean:

     

    the
      product of the applicable Moody’s First Trigger Factor set forth in Table 1 and
      the Notional Amount for such Transaction for the Calculation Period which
      includes such Valuation Date; or

     

     

    
      	 	 (B)	 for
              any other Valuation Date, zero, over

    

     

    (II)           the
      Threshold for Party A for such Valuation Date.

     

    “Moody’s
      First Trigger Failure Condition” means that neither Party A nor
      any Eligible Guarantor of Party A under an Eligible Guarantee has credit ratings
      from Moody’s at least equal to the Moody’s First Trigger Ratings
      Threshold.

     

    “Moody’s
      First Trigger Value” means, on any date and with respect to any
      Eligible Collateral, the bid price obtained by the Valuation Agent multiplied
      by
      the Moody’s First Trigger Valuation Percentage for such Eligible Collateral set
      forth in Paragraph 13(b)(ii).

     

    “Moody’s
      Second Trigger Credit Support Amount” means, for any Valuation
      Date, the excess, if any, of:

     

    
      	
               

            	
              (I)

            	
              (A)

            	
              for
                any Valuation Date on which a Moody’s Second Trigger Failure Condition has
                occurred and been continuing for at least 30 Local Business Days,
                an
                amount equal to the greatest of (a) zero, (b) the aggregate amount
                of the
                Next Payments and (c) the sum of the Secured Party’s Exposure and the
                aggregate of Moody’s Additional Collateralized Amounts for each
                Transaction.

            

    

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    For
      the
      purposes of this definition, the “Moody’s Additional Collateralized
      Amount” with respect to any Transaction shall mean:

     

    if
      such
      Transaction is not a Transaction-Specific Hedge,

     

    the
      product of the applicable Moody’s Second Trigger Factor set forth in Table 2 and
      the Notional Amount for such Transaction for the Calculation Period which
      includes such Valuation Date; or

     

    if
      such
      Transaction is a Transaction-Specific Hedge,

     

    the
      product of the applicable Moody’s Second Trigger Factor set forth in Table 3 and
      the Notional Amount for such Transaction for the Calculation Period which
      includes such Valuation Date; or

     

    (B)           for
      any other Valuation Date, zero, over

     

    (II)           the
      Threshold for Party A for such Valuation Date.

     

    “Moody’s
      Second Trigger Failure Condition” means that neither Party A nor
      any Eligible Guarantor of Party A under an Eligible Guarantee has credit ratings
      from Moody’s at least equal to the Moody’s Second Trigger Ratings
      Threshold.

     

    “Moody’s
      Second Trigger Value” means, on any date and with respect to any
      Eligible Collateral, the bid price obtained by the Valuation Agent multiplied
      by
      the Moody’s Second Trigger Valuation Percentage for such Eligible Collateral set
      forth in Paragraph 13(b)(ii).

     

    “Next
      Payment” means, in respect of each Transaction, the greater of (i)
      any payments due to be made by Party A under Section 2(a) on the Next Payment
      Date less any payments due to be made by Party B under Section 2(a) on the
      Next
      Payment Date (any such payments determined based on rates prevailing on such
      Valuation Date) and (ii) zero.

     

    “Next
      Payment Date” means, in respect of each Transaction, the date on
      which the next scheduled payment under such Transaction is due to be
      paid.

     

    “Pricing
      Sources” means the sources of financial information commonly known
      as Bloomberg, Bridge Information Services, Data Resources Inc., Interactive
      Data
      Services, International Securities Market Association, Merrill Lynch Securities
      Pricing Service, Muller Data Corporation, Reuters, Wood Gundy, Trepp Pricing,
      JJ
      Kenny, S&P and Telerate.

     

    “S&P
      Approved Ratings Credit Support Amount” means, only if Party A or
      an Eligible Guarantor of Party A under an Eligible Guarantee is a Financial
      Institution, for any Valuation Date, the excess, if any, of:

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    
      	
               

            	
              (I)

            	
              (A)

            	
              for
                any Valuation Date on which (i) an S&P Approved Ratings Threshold
                Event has occurred and been continuing (x) for at least 10 Local
                Business
                Days or (y) since this Annex was executed and (ii) it is not the
                case that
                an S&P Required Ratings Threshold Event has occurred and been
                continuing for at least 10 Local Business Days, an amount equal to
                the
                Secured Party’s Exposure, or

            

    

     

    (B)           for
      any other Valuation Date, zero, over

     

    (II)           the
      Threshold for Party A for such Valuation Date.

     

    “S&P
      Approved Ratings Threshold Event” means, only if Party A or an
      Eligible Guarantor of Party A under an Eligible Guarantee is a Financial
      Institution, that neither Party A nor any Eligible Guarantor of Party A under
      an
      Eligible Guarantee has credit ratings from S&P at least equal to the S&P
      Approved Ratings Threshold.

     

    “S&P
      Approved Ratings Value” means, on any date and with respect to any
      Eligible Collateral, the bid price obtained by the Valuation Agent multiplied
      by
      the S&P Approved Ratings Valuation Percentage for such Eligible Collateral
      set forth in paragraph 13(b)(ii).

     

    “S&P
      Required Ratings Credit Support Amount” means, for any Valuation
      Date, the excess, if any, of:

     

    
      	
               

            	
              (I)

            	
              (A)

            	
              for
                any Valuation Date on which an S&P Required Ratings Threshold Event
                has occurred and been continuing for at least 10 Local Business Days,
                an
                amount equal to 125% of the Secured Party’s Exposure,
                or

            

    

     

    (B)           for
      any other Valuation Date, zero, over

     

    (II)           the
      Threshold for Party A for such Valuation Date.

     

    “S&P
      Required Ratings Threshold Event” means that neither Party A nor
      any Eligible Guarantor of Party A under an Eligible Guarantee has credit ratings
      from S&P at least equal to the S&P Required Ratings
      Threshold.

     

    “S&P
      Required Ratings Value” means, on any date and with respect to any
      Eligible Collateral, the bid price obtained by the Valuation Agent multiplied
      by
      the S&P Required Ratings Valuation Percentage for such Eligible Collateral
      set forth in paragraph 13(b)(ii).

     

    “Transaction
      Exposure” means, for any Transaction, Exposure determined as if
      such Transaction were the only Transaction between the Secured Party and the
      Pledgor.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

    “Transaction-Specific
      Hedge” means any Transaction that is (i) an interest rate cap,
      interest rate floor or interest rate swaption or (ii) any other Transaction
      in
      respect of which either (x) the Notional Amount for each Calculation Period
      of
      such Transaction is “balance guaranteed” or (y) the Notional Amount for each
      Calculation Period of such Transaction is not a specific dollar amount that
      is
      fixed at the inception of the Transaction.

     

    “Valuation
      Percentage” shall mean, for purposes of determining the S&P
      Approved Ratings Value, the S&P Required Ratings Value, the Moody’s First
      Trigger Value or the Moody’s Second Trigger Value with respect to any Eligible
      Collateral or Posted Collateral, the applicable S&P Approved Ratings
      Valuation Percentage, S&P Required Ratings Valuation Percentage, Moody’s
      First Trigger Valuation Percentage or Moody’s Second Trigger Valuation
      Percentage for such Eligible Collateral or Posted Collateral, respectively,
      in
      each case as set forth in Paragraph 13(b)(ii).

     

    “Value”
      shall mean, in respect of any date, the related S&P Approved Ratings Value,
      the related S&P Required Ratings Value, the related Moody’s First Trigger
      Value and the related Moody’s Second Trigger Value, as applicable.

     

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      of this page intentionally left blank]

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

    Table
      I

     

    Moody’s
      First Trigger Factor

     

    
      	
              Remaining

              Weighted
                Average Life

              of
                Hedge in Years

            	
              Daily
                Collateral Posting

            
	 	 
	
              1
                or less

            	
              0.15%

            
	
              More
                than 1 but not more than 2

            	
              0.30%

            
	
              More
                than 2 but not more than 3

            	
              0.40%

            
	
              More
                than 3 but not more than 4

            	
              0.60%

            
	
              More
                than 4 but not more than 5

            	
              0.70%

            
	
              More
                than 5 but not more than 6

            	
              0.80%

            
	
              More
                than 6 but not more than 7

            	
              1.00%

            
	
              More
                than 7 but not more than 8

            	
              1.10%

            
	
              More
                than 8 but not more than 9

            	
              1.20%

            
	
              More
                than 9 but not more than 10

            	
              1.30%

            
	
              More
                than 10 but not more than 11

            	
              1.40%

            
	
              More
                than 11 but not more than 12

            	
              1.50%

            
	
              More
                than 12 but not more than 13

            	
              1.60%

            
	
              More
                than 13 but not more than 14

            	
              1.70%

            
	
              More
                than 14 but not more than 15

            	
              1.80%

            
	
              More
                than 15 but not more than 16

            	
              1.90%

            
	
              More
                than 16 but not more than 17

            	
              2.00%

            
	
              More
                than 17 but not more than 18

            	
              2.00%

            
	
              More
                than 18 but not more than 19

            	
              2.00%

            
	
              More
                than 19 but not more than 20

            	
              2.00%

            
	
              More
                than 20 but not more than 21

            	
              2.00%

            
	
              More
                than 21 but not more than 22

            	
              2.00%

            
	
              More
                than 22 but not more than 23

            	
              2.00%

            
	
              More
                than 23 but not more than 24

            	
              2.00%

            
	
              More
                than 24 but not more than 25

            	
              2.00%

            
	
              More
                than 25 but not more than 26

            	
              2.00%

            
	
              More
                than 26 but not more than 27

            	
              2.00%

            
	
              More
                than 27 but not more than 28

            	
              2.00%

            
	
              More
                than 28 but not more than 29

            	
              2.00%

            
	
              More
                than 29

            	
              2.00%

            

    

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    Table
      2

     

    Moody’s
      Second Trigger Factor for Interest Rate Swaps with Fixed Notional
      Amounts

     

    
      	
              Remaining

              Weighted
                Average Life

              of
                Hedge in Years

            	
              Daily
                Collateral Posting

            
	 	 
	
              1
                or less

            	
              0.50%

            
	
              More
                than 1 but not more than 2

            	
              1.00%

            
	
              More
                than 2 but not more than 3

            	
              1.50%

            
	
              More
                than 3 but not more than 4

            	
              1.90%

            
	
              More
                than 4 but not more than 5

            	
              2.40%

            
	
              More
                than 5 but not more than 6

            	
              2.80%

            
	
              More
                than 6 but not more than 7

            	
              3.20%

            
	
              More
                than 7 but not more than 8

            	
              3.60%

            
	
              More
                than 8 but not more than 9

            	
              4.00%

            
	
              More
                than 9 but not more than 10

            	
              4.40%

            
	
              More
                than 10 but not more than 11

            	
              4.70%

            
	
              More
                than 11 but not more than 12

            	
              5.00%

            
	
              More
                than 12 but not more than 13

            	
              5.40%

            
	
              More
                than 13 but not more than 14

            	
              5.70%

            
	
              More
                than 14 but not more than 15

            	
              6.00%

            
	
              More
                than 15 but not more than 16

            	
              6.30%

            
	
              More
                than 16 but not more than 17

            	
              6.60%

            
	
              More
                than 17 but not more than 18

            	
              6.90%

            
	
              More
                than 18 but not more than 19

            	
              7.20%

            
	
              More
                than 19 but not more than 20

            	
              7.50%

            
	
              More
                than 20 but not more than 21

            	
              7.80%

            
	
              More
                than 21 but not more than 22

            	
              8.00%

            
	
              More
                than 22 but not more than 23

            	
              8.00%

            
	
              More
                than 23 but not more than 24

            	
              8.00%

            
	
              More
                than 24 but not more than 25

            	
              8.00%

            
	
              More
                than 25 but not more than 26

            	
              8.00%

            
	
              More
                than 26 but not more than 27

            	
              8.00%

            
	
              More
                than 27 but not more than 28

            	
              8.00%

            
	
              More
                than 28 but not more than 29

            	
              8.00%

            
	
              More
                than 29

            	
              8.00%

            

    

    

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    
       

      Table
        3

       

    

    Moody’s
      Second Trigger Factor for Transaction-Specific Hedges

     

    
      	
              Remaining

              Weighted
                Average Life

              of
                Hedge in Years

            	
              Daily
                Collateral Posting

            
	 	 
	
              1
                or less

            	
              0.65%

            
	
              More
                than 1 but not more than 2

            	
              1.30%

            
	
              More
                than 2 but not more than 3

            	
              1.90%

            
	
              More
                than 3 but not more than 4

            	
              2.50%

            
	
              More
                than 4 but not more than 5

            	
              3.10%

            
	
              More
                than 5 but not more than 6

            	
              3.60%

            
	
              More
                than 6 but not more than 7

            	
              4.20%

            
	
              More
                than 7 but not more than 8

            	
              4.70%

            
	
              More
                than 8 but not more than 9

            	
              5.20%

            
	
              More
                than 9 but not more than 10

            	
              5.70%

            
	
              More
                than 10 but not more than 11

            	
              6.10%

            
	
              More
                than 11 but not more than 12

            	
              6.50%

            
	
              More
                than 12 but not more than 13

            	
              7.00%

            
	
              More
                than 13 but not more than 14

            	
              7.40%

            
	
              More
                than 14 but not more than 15

            	
              7.80%

            
	
              More
                than 15 but not more than 16

            	
              8.20%

            
	
              More
                than 16 but not more than 17

            	
              8.60%

            
	
              More
                than 17 but not more than 18

            	
              9.00%

            
	
              More
                than 18 but not more than 19

            	
              9.40%

            
	
              More
                than 19 but not more than 20

            	
              9.70%

            
	
              More
                than 20 but not more than 21

            	
              10.00%

            
	
              More
                than 21 but not more than 22

            	
              10.00%

            
	
              More
                than 22 but not more than 23

            	
              10.00%

            
	
              More
                than 23 but not more than 24

            	
              10.00%

            
	
              More
                than 24 but not more than 25

            	
              10.00%

            
	
              More
                than 25 but not more than 26

            	
              10.00%

            
	
              More
                than 26 but not more than 27

            	
              10.00%

            
	
              More
                than 27 but not more than 28

            	
              10.00%

            
	
              More
                than 28 but not more than 29

            	
              10.00%

            
	
              More
                than 29

            	
              10.00%

            

    

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties have executed this Annex by their duly authorized
      representatives as of the date of the Agreement.

     

    
      	
              BNP
                PARIBAS

            	 	
              THE
                BANK OF NEW YORK, not in its

              individual
                or corporate capacity but solely as

              Swap
                Contract Administrator for Alternative

              Loan
                Trust 2007-OH2

            
	 	 	 
	 	 	 
	
              By:

            	/s/
              Christine Smith Howard 	 	
              By:

            	/s/
              Matthew Sabino 
	 	
              Name: 
                Christine Smith Howard

            	 	 	
              Name: 
                Matthew Sabino

            
	 	
              Title:   
                Authorized Signatory

            	 	 	
              Title:   
                Assistant Treasurer

            
	 	 	 	 	 
	
              By:

            	/s/
              Mindy Sperling 	 	 	 
	 	
              Name: 
                Mindy Sperling

            	 	 	 
	 	
              Title:   
                Authorized Signatory

            	 	 	 

    

     

     

     

     

    26efc7-1938_ex998.htm

    Exhibit
      10.8

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    ASSIGNMENT
      AGREEMENT

     

    ASSIGNMENT
      AGREEMENT, dated as of June 29, 2007 (“Assignment Agreement”), among COUNTRYWIDE
      HOME LOANS, INC. (“Assignor”), THE BANK OF NEW YORK (“Assignee”), not in its
      individual or corporate capacity but solely as Swap Contract Administrator
      for
      Alternative Loan Trust 2007-OH2, pursuant to a Swap Contract Administration
      Agreement (the “Swap Contract Administration Agreement”) dated as of June 29,
      2007, and BNP PARIBAS (“Remaining Party”).

     

    W
      I T
      N E S S E T H:

     

    WHEREAS,
      effective as of June 29, 2007, Assignor desires to assign all of its rights
      and
      delegate all of its duties and obligations to Assignee under those certain
      Transactions (collectively, the “Assigned Transactions”) as evidenced by those
      two confirmations, each with a Trade Date of June 27, 2007, whose BNP PARIBAS
      reference numbers are 66785 and 66786 (each, a “Confirmation” and collectively,
      the “Confirmations”), copies of which are attached hereto as Exhibit
      I;

     

    WHEREAS,
      Assignor and Remaining Party executed and delivered the Confirmations in
      connection with, and as part of, the ISDA Master Agreement dated as of May
      28,
      1996, as amended or supplemented from time to time (the “Old Master Agreement”),
      between Assignor and Remaining Party;

     

    WHEREAS,
      Assignee desires to accept the assignment of rights and assume the delegation
      of
      duties and obligations of the Assignor under the Assigned Transactions and
      the
      Confirmations, including any modifications that may be agreed to by Assignee
      and
      Remaining Party; and

     

    WHEREAS,
      Assignor desires to obtain the written consent of Remaining Party to the
      assignment, delegation and assumption, and Remaining Party desires to grant
      such
      consent in accordance with the terms hereof.

     

    NOW,
      THEREFORE, in consideration of the premises and of the mutual agreements herein
      contained and for good and valuable consideration, the receipt and sufficiency
      of which is hereby acknowledged, the parties agree as follows:

     

    1.  Assignment
      and Assumption.  Effective as of and from June 29, 2007 (the
“Effective Date”), Assignor hereby assigns all of its rights and delegates all
      of its duties and obligations to Assignee, and Assignee hereby assumes all
      Assignor’s rights, duties, and obligations, under the Assigned Transactions and
      the Confirmations arising on or after the Effective Date.

     

    2.  Release.  Effective
      as of and from the Effective Date, Remaining Party and Assignor hereby release
      one another from all duties and obligations owed under and in respect of the
      Assigned Transactions and the Confirmations, and Assignor hereby terminates
      its
      rights under and in respect of the Assigned Transactions; provided, however,
      that such release shall not affect Assignor’s obligation to pay the Additional
      Payment under each Confirmation (as defined in each Confirmation).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.  Limitation
      on Liability.  Assignor and Remaining Party agree to the
      following: (a) The Bank of New York (“BNY”) is entering into this Assignment
      Agreement not in its individual or corporate capacity, but solely in its
      capacity as Swap Contract Administrator under the Swap Contract Administration
      Agreement; (b) in no case shall BNY (or any person acting as successor Swap
      Contract Administrator under the Swap Contract Administration Agreement) be
      personally liable for or on account of any of the statements, representations,
      warranties, covenants or obligations stated to be those of Assignee under the
      terms of the Assigned Transactions, all such liability, if any, being expressly
      waived by Assignor and Remaining Party and any person claiming by, through
      or
      under either such party; and (c) recourse against BNY shall be limited to the
      assets available under the Swap Contract Administration Agreement or the Pooling
      and Servicing Agreement for Alternative Loan Trust 2007-OH2 dated as of June
      1,
      2007 among CWALT, Inc. as depositor, Park Granada LLC, as a seller, Park Monaco
      Inc., as a seller, Park Sienna LLC, as a seller, Countrywide Home Loans, Inc.
      as
      a seller, Countrywide Home Loans Servicing LP, as master servicer, and BNY,
      as
      trustee (the “Pooling and Servicing Agreement”).

     

    4.  Consent
      and Acknowledgment of Remaining Party.  Remaining Party hereby
      consents to the assignment and delegation by Assignor to Assignee of all the
      rights, duties, and obligations of Assignor under the Assigned Transactions
      pursuant to this Assignment Agreement.

     

    5.  Governing
      Agreement.  The Assigned Transactions and the Confirmations shall
      form a part of, and be subject to, an ISDA Master Agreement dated as of June
      29,
      2007, as amended or supplemented from time to time (the “New Master Agreement”),
      between Assignee and Remaining Party.

     

    6.  Representations.  Each
      party hereby represents and warrants to the other parties as
      follows:

     

    
      	
              (a)  

            	
              It
                is duly organized, validly existing and in good standing under the
                laws of
                its jurisdiction of organization or
                incorporation;

            

    

     

    
      	
              (b)  

            	
              It
                has the power to execute and deliver this Assignment Agreement;
                and

            

    

     

    
      	
              (c)  

            	
              Its
                obligations under this Assignment Agreement constitute its legal,
                valid
                and binding obligations, enforceable in accordance with their respective
                terms.

            

    

     

    As
      of the
      Effective Date, each of Assignor and Remaining Party represents that no event
      or
      condition has occurred that constitutes an Event of Default, a Potential Event
      of Default or, to the party’s knowledge, a Termination Event (as such terms are
      defined in the Confirmations and the New Master Agreement), with respect to
      the
      party, and no such event would occur as a result of the party’s entering into or
      performing its obligations under this Assignment Agreement.

     

    7.  Indemnity.  Assignor
      hereby agrees to indemnify and hold harmless Assignee with respect to any and
      all claims arising under the Assigned Transactions prior to the Effective
      Date.  Assignee (subject to the limitations set forth in paragraph 3
      above) hereby agrees to indemnify and hold harmless Assignor with respect to
      any
      and all claims arising under the Assigned Transactions on or after the Effective
      Date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    8.  Governing
      Law.  This Assignment Agreement shall be governed by and construed
      in accordance with the laws of the State of New York without reference to the
      conflict of laws provisions thereof (except Section 5-1401 and 5-1402 of the
      New
      York General Obligations Law).

     

    9.  Notices.  For
      the purposes of this Assignment Agreement and Section 12(a) of the Old Master
      Agreement and the New Master Agreement, as applicable, the addresses for notices
      or communications are as follows:  (i) in the case of Assignor,
      Countrywide Home Loans, Inc., 4500 Park Granada, Calabasas, California 91302,
      Attention:  Michael Schloessmann, with a copy to the same address,
      Attention:  Legal Department, or such other address as may be
      hereafter furnished in writing to Assignee and Remaining Party; (ii) in the
      case
      of Assignee, The Bank of New York, 101 Barclay Street, New York, New York 10286,
      Attention:  Corporate Trust MBS Administration, CWALT, Series 2007-OH2
      or such other address as may be hereafter furnished in writing to Assignor
      and
      Remaining Party; and (iii) in the case of Remaining Party,

     

    
      	 	
              Address:

            	
              BNP
                Paribas, 787 Seventh Avenue, New York New York 10019
                USA

            
	 	
              Attention:

            	
              Legal
                and Transaction Management Group – ISDA

            
	 	
              Telephone
                No:

            	
              +(212)
                841-3000

            
	 	
              Facsimile
                No:

            	
              +(212)
                841-3561

            

    

     

    with
      a
      copy to:

     

    
      	 	
              Address:

            	
              BNP
                Paribas, Paris, 1 Rue Taitbout, 75009 Paris

            
	 	
              Attention:

            	
              Legal
                and Transaction Management Group – ISDA

            
	 	
              Telephone
                No:

            	
              +(33)
                (0) 1 4014 0199

            
	 	
              Facsimile
                No:

            	
              +(33)
                (0) 1 4014 5577 / 7511

            

    

     

    or
      such
      other address as may be hereafter furnished in writing to Assignor and
      Assignee.

     

    10.  Payments.  All
      payments (if any) remitted by Remaining Party under the Assigned Transactions
      shall be made by wire transfer according to the following
      instructions:

     

    (a)           In
      respect of the Confirmation with reference number 66785 as follows:

     

    The
      Bank
      of New York

    New
      York,
      NY

    ABA
      #
      021-000-018

    GLA
      #
      111-565

    For
      Further Credit:  TAS A/C 542008

    Attn:
      Matthew Sabino 212-815- 6093

     

    Fax:
      212-815-3986

     

    (b)           In
      respect of the Confirmation with reference number 66786, as
      follows:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    The
      Bank
      of New York

    New
      York,
      NY

    ABA
      #
      021-000-018

    GLA
      #
      111-565

    For
      Further Credit:  TAS A/C 542009

    Attn:
      Matthew Sabino 212-815-6093

     

    Fax:
      212-815-3986

     

    11.  Counterparts.  This
      Assignment Agreement may be executed and delivered in counterparts (including
      by
      facsimile transmission), each of which when executed shall be deemed to be
      an
      original but all of which taken together shall constitute one and the same
      instrument.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Assignment Agreement
      as
      of the date first above written.

     

    
      
        	 	COUNTRYWIDE
                HOME LOANS,
                INC.	 
	 	 	 	 
	
                 

              	
                By:
                  

              	/s/ Michael
                Schloessmann	 
	 	Name: 
Michael
                Schloessmann	 
	 	Title:   
Managing
                Director	 
	 	 	 	 

      

       

      
        	 	
                THE
                  BANK OF NEW YORK, NOT IN ITS INDIVIDUAL OR CORPORATE CAPACITY BUT
                  SOLELY
                  AS SWAP CONTRACT ADMINISTRATOR FOR ALTERNATIVE LOAN TRUST
                  2007-OH2

              	 
	 	 	 	 
	
                 

              	
                By:
                  

              	/s/ Michelle
                Penson	 
	 	Name: 
Michelle
                K.
                Penson	 
	 	Title:   
Vice
                President	 
	 	 	 	 

      

       

      
        	 	BNP
                PARIBAS	 
	 	 	 	 
	
                 

              	
                By:
                  

              	/s/ Kerri
                Nuccio	 
	 	Name: 
Kerri
                Nuccio	 
	 	Title:   
BNP
                Paribas Securities Corp. on behalf of BNP Paribas

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]