Epstein Secrets

Test. a Synthetic Security will be deemed to have the characteristics of the related Reference Obligation (except that the Moody's Assigned Rating, the Moody's Recovery Rate and the S&P Recover Rate for the Synthetic Security will be used). The Coverage Tests The Coverage Tests will be used primarily to determine wheth

haracteristics of the related Reference Obligation (except that the Moody's Assigned Rating, the Moody's Recovery Rate and the S&P Recover Rate for the Synthetic Security will be used). The Coverage Tests The Coverage Tests will be used primarily to determine whether, on each Payment Date. principal and interest may

Test. a Synthetic Security will be deemed to have the characteristics of the related Reference Obligation (except that the Moody's Assigned Rating, the Moody's Recovery Rate and the S&P Recovoy Rate for the Synthetic Security will be used). The Coverage Tests The Coverage Tests will be used primarily to determine wheth

haracteristics of the related Reference Obligation (except that the Moody's Assigned Rating, the Moody's Recovery Rate and the S&P Recovoy Rate for the Synthetic Security will be used). The Coverage Tests The Coverage Tests will be used primarily to determine whether, on each Payment Date. principal and interest may

Obligation, an amount equal to (i) the Expected Loss for such Structured Finance Obligation based on its Moody's Rating divided by (ii) 100% minus the Moody's Recovery Rate for such Structured Finance Obligation, where "Expected Loss" is determined as follows: Rating Expected Loss Aaa 0.55 Aal 5.50 Aa2 11.00 Aa

ed that, in the case of (i), (ii), (iii) or (iv), such obligation, and in the case of (v), the relevant underlying obligation and, where indicated, the Synthetic Security itself, satisfies the Collateral Obligation Eligibility Criteria as of such date) and has been Delivered to the trustee as Collateral hereunder. "C