OFFERING CIRCULAR SUPPLEMENT CLARIS LIMITED as Issuer ...

protection seller expressly relating to the Reference Portfolio.
Remaining Expected Life:
S&P or Standard & Poor’s:
Scheduled Distribution Date:
Scheduled Interest Payment:
Scheduled Maturity:
Servicer:
Underlying Assets:
Weighted Average Life:
In respect of an ABS Reference Obligation and a date of
determination, the period, expressed in years, between that
date of determination and the Expected Maturity of that ABS
Reference Obligation.
Standard & Poor’s Ratings Services, a division of The
McGraw Hill Companies, Inc. or any successor rating agency
thereto.
The date on which, under the terms of the relevant ABS
Reference Obligation, Scheduled Interest Payments are due to
be paid, after taking into account any applicable Grace Period.
For the avoidance of doubt, the Scheduled Distribution Date
shall not be affected by a deferral of interest payments,
provided that such deferral of interest payments constitutes an
event of default according to the terms and conditions of the
ABS Reference Obligation.
Any payment of interest in respect of the relevant ABS
Reference Obligation when such payment falls due and
payable under the terms of the relevant ABS Reference
Obligation provided that Scheduled Interest Payments shall
not include payments of interest amounts that are explicitly
stated to be unrated by the Rating Agency at the date the
Reference Entity is added to the Reference Portfolio.
In respect of a date, the period, expressed in years, from and
including such date to and including the Scheduled
Termination Date.
In respect of any ABS Reference Obligation, the entity that,
under the terms of such ABS Reference Obligation, is
responsible for the collection and the administration of the
Underlying Assets of such ABS Reference Obligation and/or
for providing information on such Underlying Assets that is to
be made available to other parties connected with the ABS
Reference Obligation provided that (A) any subsidiaries,
holding companies or other Affiliates in respect of such entity
shall not be deemed to be a Servicer in respect of such ABS
Reference Obligation and (B) such entity shall only be deemed
to be a Servicer in the country or countries in which it carries
out such activities in relation to the relevant Underlying Assets
and any branches or other offices of such entity located outside
such country or countries, as the case may be, shall not be
deemed to be a Servicer in respect of such ABS Reference
Obligation.
In respect of an ABS Reference Obligation, designated assets
held by the relevant ABS Reference Entity from which such
ABS Reference Entity funds payments, directly or indirectly in
respect of such ABS Reference Obligation.
In respect of an ABS Reference Obligation and a date of
determination, the period, expressed in years, determined as
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