EX-99.6 10 v090060_ex99-6.htm
HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY 10018
Fax: (212) 525-5517

 
DATE:
September 28, 2007
   
TO:
Supplemental Interest Trust,
 
Lehman XS Trust Mortgage Pass-Through Certificates, Series 2007-18N
 
c/o U.S. Bank, National Association
 
One Federal Street, 3rd Floor
 
Boston, MA 02110
 
("Party B")
   
FROM:
HSBC BANK USA, NATIONAL ASSOCIATION
 
452 Fifth Avenue
 
New York, NY 10018
 
("Party A")
   
RE:
Interest Rate Swap Transaction


Dear Sir or Madam:

The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the transaction entered into between us on the Trade Date specified below (the “Transaction”).
 
The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern.
 
This Confirmation constitutes a “Confirmation” as referred to in, and supplements, forms part of and is subject to, the ISDA Master Agreement dated as of September 28, 2007, as amended and supplemented from time to time (the “Agreement”) between Party A and Party B. All provisions contained in the Agreement govern this Confirmation except as expressly modified below.
 
1.
The Swap Transaction to which this Confirmation relates is a Rate Swap Transaction, the terms of which are as follow:
 
 
General Terms
 
     
 
Trade Date:
September 25, 2007
     
 
Effective Date:
October 25, 2007




HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY 10018
Fax: (212) 525-5517

 
 
Termination Date:
September 25, 2012, subject to adjustment in accordance with the Following Business Day Convention
     
 
Notional Amount:
See Amortization Schedule, Schedule A
     
 
Fixed Amounts:
 
     
 
Fixed Rate Payer:
Party B
     
 
Fixed Rate Payer  Period End Dates:
The 25th day of each month of each year, commencing on November 25, 2007 to and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.
     
 
Fixed Rate Payer Payment Dates:
Early Payment, one (1) Business Day preceding each Fixed Rate Payer Period End Date.
     
 
Fixed Rate
See Amortization Schedule, Schedule A
     
 
Fixed Rate Day Count  Fraction:
Actual/360
     
 
Floating Amounts:
 
     
 
Floating Rate Payer:
Party A
     
 
Floating Rate Payer Period End Dates:
The 25th day of each month of each year, commencing on November 25, 2007 to and including the Termination Date, subject to adjustment in accordance with the Following Business Day Convention.
     
 
Floating Rate Payer Payment Dates:
Early Payment, one (1) Business Day preceding each Floating Rate Payer Period End Date.
     
 
Floating Rate Option:
USD-LIBOR-BBA
     
 
Designated Maturity:
One month
     
 
Spread:
None
     
 
Floating Rate Day Count Fraction:
Actual/360
     
 
Reset Dates:
The first day of each Calculation Period.
     
 
Compounding:
Inapplicable


2


HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY 10018
Fax: (212) 525-5517


 
Business Day:
Any day other than (i) a Saturday or a Sunday, or (ii) a day on which banking institutions in (1) the city in which the Corporate Trust Office of Party B is located or (2) the States of New York, Maryland, Minnesota, Colorado or Illinois are closed.
     
 
Floating Rate Payer Upfront Payment:
USD 111,000; Party A shall pay to Party B the Floating Rate Payer Upfront Payment on or prior to September 28, 2007. This payment is included in the net amount of USD 16,000 payable to Party A by Lehman Brothers Holdings Inc. (on behalf of Party B) under confirmation Ref. No. 487237hn between Party A and Party B of even date herewith.
     
2.
Procedural Terms:
 
     
 
Calculation Agent:
Party A
     
 
Offices:
The Office of Party A for the Swap Transaction is New York
     
 
Account Details:
 
     
 
Payments to Party A:
HSBC Bank USA, National Association
ABA # 021-001-088
For credit to Department 299
A/C: 000-04929-8
HSBC Derivative Products Group
     
 
Payments to Party B:
U.S. Bank Corporate Trust Services
ABA# 091-000-022
DDA# 173-103-321-118
Ref: LXS 2007-18N
Attn: J. Byrnes

 

3


HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY 10018
Fax: (212) 525-5517

Please confirm that the foregoing correctly sets forth the terms and conditions of our agreement by executing this Confirmation and returning to us by fax/telex to 212 525 5517 to the attention of Christian McGreevy:
 
Fax Number : 212 525 5517
Telephone Number : 212 525 8710


 
HSBC BANK USA, NATIONAL ASSOCIATION
 
By: ________________________________________      Authorized Signatory
 

 
HSBC BANK USA, NATIONAL ASSOCIATION
 
By: ________________________________________      Authorized Signatory
 

 
Accepted and confirmed as of the Trade Date written above:
 
SUPPLEMENTAL INTEREST TRUST,
Lehman XS Trust Mortgage Pass-Through Certificates, Series 2007-18N
By: U.S. Bank, National Association, not in its individual capacity, but solely as Trustee

By:________________________________
Name:
Title:
 

4


HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY 10018
Fax: (212) 525-5517

SCHEDULE A to the Confirmation dated as of September 28, 2007
 
Re: Reference Number 487237hn
 
Amortization Schedule, subject to adjustment in accordance with the Following Business Day Convention
 
From and Including
To but Excluding
Notional Amount (USD)
Fixed Rate (%)
10/25/2007
11/25/2007
481,796,962.00
5.32
11/25/2007
12/25/2007
469,006,976.00
5.38
12/25/2007
1/25/2008
456,561,230.00
4.93
1/25/2008
2/25/2008
444,450,341.00
4.72
2/25/2008
3/25/2008
432,665,183.00
4.54
3/25/2008
4/25/2008
421,196,881.00
4.51
4/25/2008
5/25/2008
410,036,805.00
4.45
5/25/2008
6/25/2008
399,176,566.00
4.39
6/25/2008
7/25/2008
388,608,001.00
4.39
7/25/2008
8/25/2008
378,323,174.00
4.38
8/25/2008
9/25/2008
368,314,370.00
4.36
9/25/2008
10/25/2008
358,574,081.00
4.36
10/25/2008
11/25/2008
349,095,011.00
4.36
11/25/2008
12/25/2008
339,870,061.00
4.36
12/25/2008
1/25/2009
330,892,329.00
4.38
1/25/2009
2/25/2009
322,155,102.00
4.39
2/25/2009
3/25/2009
313,651,852.00
4.41
3/25/2009
4/25/2009
305,376,230.00
4.44
4/25/2009
5/25/2009
297,322,060.00
4.46
5/25/2009
6/25/2009
289,483,339.00
4.49
6/25/2009
7/25/2009
281,854,225.00
4.52
7/25/2009
8/25/2009
274,429,039.00
4.55
8/25/2009
9/25/2009
267,201,180.00
4.57
9/25/2009
10/25/2009
260,164,679.00
4.60
10/25/2009
11/25/2009
253,311,851.00
4.63
11/25/2009
12/25/2009
246,642,105.00
4.65
12/25/2009
1/25/2010
240,149,511.00
4.67
1/25/2010
2/25/2010
233,829,591.00
4.69
2/25/2010
3/25/2010
227,677,479.00
4.71
3/25/2010
4/25/2010
221,687,182.00
4.73
4/25/2010
5/25/2010
215,852,014.00
4.75
5/25/2010
6/25/2010
210,159,078.00
4.78
6/25/2010
7/25/2010
204,617,351.00
4.80
7/25/2010
8/25/2010
199,221,498.00
4.82
8/25/2010
9/25/2010
193,963,603.00
4.84
9/25/2010
10/25/2010
176,174,355.00
4.86
10/25/2010
11/25/2010
171,556,993.00
4.89
11/25/2010
12/25/2010
167,058,636.00
4.92
12/25/2010
1/25/2011
162,670,967.00
4.94
1/25/2011
2/25/2011
158,397,841.00
4.97
2/25/2011
3/25/2011
154,231,131.00
4.99
3/25/2011
4/25/2011
150,173,997.00
5.00
4/25/2011
5/25/2011
146,223,543.00
5.02
5/25/2011
6/25/2011
142,377,129.00
5.03
6/25/2011
7/25/2011
138,630,249.00
5.04
7/25/2011
8/25/2011
134,980,992.00
5.05
8/25/2011
9/25/2011
131,405,903.00
5.06
9/25/2011
10/25/2011
127,889,826.00
5.06


5


HSBC Bank USA, National Association
452 Fifth Avenue
New York, NY 10018
Fax: (212) 525-5517

 
From and Including
To but Excluding
Notional Amount (USD)
Fixed Rate (%)
10/25/2011
11/25/2011
124,427,759.00
5.08
11/25/2011
12/25/2011
121,003,786.00
5.09
12/25/2011
1/25/2012
117,637,833.00
5.10
1/25/2012
2/25/2012
39,551,428.00
5.11
2/25/2012
3/25/2012
38,517,089.00
5.13
3/25/2012
4/25/2012
37,505,788.00
5.14
4/25/2012
5/25/2012
36,471,422.00
5.15
5/25/2012
6/25/2012
35,463,529.00
5.17
6/25/2012
7/25/2012
34,450,550.00
5.18
7/25/2012
8/25/2012
33,456,902.00
5.19
8/25/2012
9/25/2012
32,485,834.00
5.21

 

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