EX-10 2 ex10_6a.txt EXHIBIT 10.6A Exhibit 10.6(A) To: Wells Fargo Bank, N.A., solely as Securities Administrator on behalf of Banc of America Funding 2007-2 Trust 9062 Old Annapolis Road Columbia MD 21046 USA Attn: Chris Regnier Telephone: 410 884 2000 Fax: 410 715 2380 cc: Jonathan Hartwig Telephone: 704 683 4650 Fax: 704 719 5165 From: Bank of America, N.A. 233 South Wacker Drive - Suite 2800 Chicago Illinois 60606 U.S.A. Department: Swaps Operations Telephone: (+1) 312 234 2732 Fax: (+1) 866 255 1444 Date: 1st February 2007 Our Reference No: 5069005 / 5069004 Reference Name: Suzanne Buchta Internal Tracking No: 2447098 / 2447109 Dear Sir/Madam, The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between Wells Fargo Bank, N.A., solely as Securities Administrator on behalf of Banc of America Funding 2007-2 Trust, and Bank of America, N.A. (each a "party" and together "the parties") on the Trade Date specified below (the "Transaction"). This letter agreement constitutes a "Confirmation" as referred to in the ISDA Master Agreement specified below (the "Agreement"). The definitions and provisions contained in the 2000 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc., (the "Definitions") are incorporated into this Confirmation. In the event of any inconsistency between the Definitions and this Confirmation, this Confirmation will govern. This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of February 27, 2007, as amended and supplemented from time to time, between the parties. All provisions contained in the Agreement govern this Confirmation except as expressly modified below. In this Confirmation "Party A" means Bank of America, N.A. and "Party B" means Wells Fargo Bank, N.A., solely as Securities Administrator on behalf of Banc of America Funding 2007-2 Trust. General Terms: The terms of the particular Transaction to which this Confirmation relates are as follows: Notional Amount: For each Calculation Period, the Notional Amount shall equal the lesser of: (i) the Scheduled Notional Amount for such Calculation Period as detailed in the Schedule of Notional Amounts attached hereto (ii) the Class Certificate Balance of the Class 1-A-16 Certificates prior to distributions on the Distribution Date (as defined in the Pooling and Servicing Agreement dated February 27, 2007) related to the Calculation Period. The Securities Administrator shall make available each month via its website a statement containing the Class Certificate Balance of the Class 1-A-16 Certificates for such Calculation Period. The Securities Administrator's internet website shall initially be located at www.ctslink.com and assistance in using the website can be obtained by calling the Securities Administrator's investor relations desk at (301) 815-6600. Trade Date: 1st February 2007 Effective Date: 25th February 2007 Termination Date: 25th February 2011 Fixed Amounts: Fixed Rate Payer: Party B Fixed Rate Payer Payment Dates: 28th February 2007, subject to adjustment in accordance with the Following Business Day Convention. Fixed Amount: USD [________] Floating Amounts: Floating Rate Payer: Party A Cap Rate I: 5.40000 per cent Cap Rate II: 8.90000 per cent Floating Rate Payer Payment Dates: Early Payments shall be applicable - 2 Business Day prior to each Floating Rate Payer Period End Date Floating Rate Payer Period End Dates: The 25th of each Month, commencing on 25th March 2007 and ending on the Termination Date. No Adjustment. Floating Amount: The product of (a) the Notional Amount (b) the Floating Rate Day Count Fraction and (c) the Settlement Spread which shall be calculated in accordance with the following formula: If USD-LIBOR-BBA is greater than the Cap Rate I for the applicable Calculation Period, then Settlement Spread = (USD-LIBOR-BBA - applicable Cap Rate I) provided, however, that if USD-LIBOR-BBA for any Calculation Period is greater than the Cap Rate II then the USD-LIBOR-BBA for such Calculation Period shall be deemed to be the Cap Rate II. If 1 Month USD-LIBOR-BBA is less than or equal to the Cap Rate I for the applicable Calculation Period, then Settlement Spread = Zero. Floating Rate for initial Calculation Period: 5.32000 per cent Floating Rate Option: USD-LIBOR-BBA Designated Maturity: 1 month Spread: None Floating Rate Day Count Fraction: 30/360 Reset Dates: First day of each Calculation Period. Business Days: New York Calculation Agent: Party A
Recording of Conversations: Each party to this Transaction acknowledges and agrees to the tape recording of conversations between the parties to this Transaction whether by one or other or both of the parties or their agents, and that any such tape recordings may be submitted in evidence in any Proceedings relating to the Agreement and/or this Transaction. Account Details: Party A: Payments to Bank of America, N.A: USD Fedwire Name: Bank of America, N.A. - New York ABA #: 026009593 Attn: BOFAUS3N Name: Bank of America, N.A. City: Charlotte Acct#: 6550219386 Attn: Rate Derivative Settlements Attn: BOFAUS6SGDS Party B: Wells Fargo Bank N.A. San Francisco, CA ABA: 121000248 ACCT: 3970771416 ACCT Name: SAS Clearing FFC: 50990102 Offices: The Office of Party A for this Transaction is: Charlotte - NC, United States Please send reset notices to fax no. (+1) 866 218 8487 The Office of Party B for this Transaction is: Wells Fargo Bank, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045 Attn: Corporate Trust Services - BAFC 2007-2 Trust Please confirm that the foregoing correctly sets forth the terms and conditions of our agreement by returning via telecopier an executed copy of this Confirmation in its entirety to the attention of Global FX and Derivative Operations (fax no.(+1) 866 255 1444). Accepted and confirmed as of the date first written: Bank of America, N.A. Wells Fargo Bank, N.A., solely as Securities Administrator on behalf of Banc of America Funding 2007-2 Trust /s/ Mary Beth Knight Mary Beth Knight Assistant Vice President Authorised Signatory By: /s/ Darron C. Woodus ------------------------ Name: Darron C. Woodus Title: Assistant Vice President Calculation Period Scheduled to Commence on: Notional (USD) -------------------- -------------- 2/25/2007 110,560,000.00 3/25/2007 110,559,064.00 4/25/2007 110,558,129.00 5/25/2007 110,557,192.00 6/25/2007 110,556,255.00 7/25/2007 110,516,390.00 8/25/2007 110,247,523.00 9/25/2007 109,752,039.00 10/25/2007 109,032,737.00 11/25/2007 108,092,832.00 12/25/2007 106,935,947.00 1/25/2008 105,566,108.00 2/25/2008 103,987,739.00 3/25/2008 102,205,651.00 4/25/2008 100,225,033.00 5/25/2008 98,051,444.00 6/25/2008 95,690,795.00 7/25/2008 93,149,343.00 8/25/2008 90,433,672.00 9/25/2008 87,550,680.00 10/25/2008 84,507,560.00 11/25/2008 81,311,785.00 12/25/2008 77,971,089.00 1/25/2009 74,494,069.00 2/25/2009 70,889,270.00 3/25/2009 67,165,728.00 4/25/2009 63,354,447.00 5/25/2009 59,467,345.00 6/25/2009 55,597,135.00 7/25/2009 51,826,209.00 8/25/2009 48,170,621.00 9/25/2009 44,628,090.00 10/25/2009 41,196,376.00 11/25/2009 37,873,286.00 12/25/2009 34,656,669.00 1/25/2010 31,544,417.00 2/25/2010 28,534,463.00 3/25/2010 25,624,781.00 4/25/2010 22,813,385.00 5/25/2010 20,098,328.00 6/25/2010 17,477,702.00 7/25/2010 14,949,636.00 8/25/2010 12,512,295.00 9/25/2010 10,163,883.00 10/25/2010 7,902,636.00 11/25/2010 5,726,828.00 12/25/2010 3,634,765.00 1/25/2011 1,624,787.00 Our Reference Number: 5069005 / 5069004 Internal Tracking No: 2447098 / 2447109