ter of six months or one payment period; and (vi) the Principal Balance of any Current Pay Obligation that has a Market Value determined based on the S&P Recovery Rate will be its Market Value and, to the extent the aggregate principal balance of Current Pay Obligations exceeds 7.5% of the Portfolio Principal Bala

l 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 Recovery Rate will be used). "Synthetic Security Counterparty": An entity (other than the Issuer) required to make payments on a Synthetic Security (including an