OFFERING CIRCULAR SUPPLEMENT CLARIS LIMITED as Issuer ...

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the Moody’s Expected ABS Recovery Rate;
in the case of a Replenishment, the Weighted Average Life of such ABS Reference
Obligation at the time of the Replenishment.
details of all Replenishments and Removals;
the Tranche Weighting of such ABS Reference Obligation;
the Haircut of such ABS Reference Obligation determined according to Moody’s
Liquidity Haircut Table shown in Appendix C Part I to the Default Swap; and
the ABS Issue Date.
Accordingly, please confirm in writing by sending us an Adjustment Acknowledgement Notice no
later than one Business Day prior to the relevant Portfolio Adjustment Date confirming that the
proposed Portfolio Adjustment complies with the Portfolio Adjustment Rules.
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Signed by and on behalf of
SOCIÉTÉ GÉNÉRALE
in its capacity as Portfolio Adjustment Agent
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Date
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