oody's Obligation Rating and its Moody's Default Probability Rating (for purposes of clarification, if the Moody's Obligation Rating is higher than the Moody's Default Probability Rating. the rating subcategories difference will be positive and if it is lower, negative): Number of Moody's Ratings Subcategories Difference Between th

oody's Obligation Rating and its Moody's Default Probability Rating (for purposes of clarification, if the Moody's Obligation Rating is higher than the Moody's Default Probability Rating. the rating subcategories difference will be positive and if it is lower, negative): Number of Moody's Ratings Subcategories Difference Between th

justed down one subcategory• (if on review for possible downgrade) or up one subcategory (if on review for possible upgrade) and (y) for purposes of the Moody's Default Probability Rating used in determining the Moody's Rating Factor of a Collateral Obligation. if such Moody's rating or S&P rating used to determine the Moody's Defaul

oody's Obligation Rating and its Moody's Default Probability Rating (for purposes of clarification, if the Moody's Obligation Rating is higher than the Moody's Default Probability Rating. the rating subcategories difference will be positive and if it is lower, negative): Number of Moody's Ratings Subcategories Difference Between th

all be determined based on the applicable Collateral Obligation. Notwithstanding the foregoing, if the Moody's rating or ratings used to determine the Moody's Default Probability Rating are on watch for downgrade or upgrade by Moody's, such rating or ratings will be adjusted down one subcategory (if on watch for downgrade) or up on

to the nearest whole number. The "Moody's Rating Factor" relating to any Collateral Obligation is the number set forth in the table below opposite the Moody's Default Probability Rating of such Collateral Obligation.] Moody's Default Probability Rating Moody's Rating Factor Moody's Default Probability Rating Moody's Rating Fact

at a purchase price (expressed as a percentage of par) not less than 65% [and (D) has a Moody's Default Probability Rating equal to or greater than the Moody's Default Probability Rating of the sold Collateral Obligation shall not be considered to be a Discount Obligation]. "Synthetic Security" means a security or swap transaction (

llateral Obligation's Moody's Rating and its Moody's Default Probability Rating (for purposes of clarification, if the Moody's Rating is higher than the Moody's Default Probability Rating, the rating subcategories difference will be positive and if it is lower, negative): Number of Moody's Ratings Subcategories Difference Between t