OFFERING CIRCULAR SUPPLEMENT CLARIS LIMITED as Issuer ...

follows:
(a)
(b)
(c)
In respect of an ABS Reference Obligation under
which the outstanding principal amount is expected to
be repaid in a single repayment at the Expected
Maturity, the Remaining Expected Life of that ABS
Reference Obligation.
In respect of an ABS Reference Obligation for which
there is a fixed repayment schedule (which does not
permit deferral of principal payments) published in the
offering circular for that ABS Reference Obligation,
the sum of the products of the remaining scheduled
repayments and their respective scheduled repayment
dates (expressed as years from the date of
determination) divided by the outstanding notional
amount of the ABS Reference Obligation at that date
of determination or otherwise determined by the
Protection Buyer.
In respect of any other ABS Reference Obligation,
such period reflecting the average time to projected
occurrence of the principal cash flows of the ABS
Reference Obligation (weighted by the size of such
cash flow) determined by (i) a dealer who is then
modelling the principal cash flows of the ABS
Reference Obligation, or (ii) a third party who is then
modelling the principal cash flows of the ABS
Reference Obligation, or (iii) by the Calculation Agent
in good faith and based upon modelling the principal
cash flows of the ABS Reference Obligation.
Please confirm your agreement to be bound by the terms of the foregoing by executing a copy of this
Confirmation and returning it to us.
Yours faithfully,
SOCIÉTÉ GÉNÉRALE
By:
Name:
Title:
CLARIS LIMITED
By:
Name:
Title:
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