OFFERING CIRCULAR SUPPLEMENT CLARIS LIMITED as Issuer ...

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(k) (l) (m) (n) (o) (p) 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. …………………………………. Signed by and on behalf of SOCIÉTÉ GÉNÉRALE in its capacity as Portfolio Adjustment Agent …………………………………. Date 74
APPENDIX B Part III ADJUSTMENT ACKNOWLEDGEMENT NOTICE [On the letterhead of the Portfolio Administrator] [Date] To: Société Générale (as Portfolio Adjustment Agent) Dear Sirs Re: Portfolio Adjustment Notice dated [ ] We refer to the Portfolio Adjustment Notice annexed hereto and confirm that the proposed Portfolio Adjustment referred to therein complies with the Portfolio Adjustment Rules. .......................................................................... ................................................................... Signed by and on behalf of Date THE BANK OF NEW YORK In its capacity as Portfolio Administrator 75
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OFFERING CIRCULAR SUPPLEMENT CLARIS
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TABLE OF CONTENTS RISK FACTORS ....
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Notes based upon their own judgemen
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38(i), the Adjusted Aggregate Nomin
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the Margin (as defined in paragraph
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(viii) ISDA Determination (if diffe
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plus (iii) an amount determined by
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ecome due and payable as a result o
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(ix) Other Security Agreement: Not
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Consequences of Early Termination U
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Redemption Date”. In the event th
Page 23 and 24: the Issuer in respect of the Deposi
Page 25 and 26: the “Shortfall”), such Shortfal
Page 27 and 28: (ii) Unmatured Coupons to become vo
Page 29 and 30: subsequent consent provided by the
Page 31 and 32: Calculation Agent: Société Géné
Page 33 and 34: (i) “Aggregate Nominal Realisatio
Page 35 and 36: The Terms of the Transaction to whi
Page 37 and 38: divided by the actual number of day
Page 39 and 40: Additional Fixed Payment: Final Exc
Page 41 and 42: the Threshold, or (b) (c) the exces
Page 43 and 44: Factor: Valuation: Final Price: The
Page 45 and 46: copy to the Clearing System, the Pr
Page 47 and 48: Adjustment Date pursuant to Removal
Page 49 and 50: monitor.paris@moodys.com within 5 B
Page 51 and 52: Prime-1 and A1 respectively, subjec
Page 53 and 54: sub-paragraph (d) below. (c) (d) Up
Page 55 and 56: ABS Failure to Pay Principal: (a) T
Page 57 and 58: Moody’s Rating, if applicable). C
Page 59 and 60: Portfolio Administrator: Potential
Page 61 and 62: protection seller expressly relatin
Page 64 and 65: APPENDIX A INITIAL REFERENCE PORTFO
Page 66 and 67: METRIS MASTER TRUST METRIS MASTER T
Page 68 and 69: RESIDENTIAL ASSET MORTGAGE PRODUCTS
Page 70 and 71: APPENDIX B Part I PORTFOLIO ADJUSTM
Page 72 and 73: single-rating from one specified ra
Page 76 and 77: APPENDIX C Part I Moody’s Expecte
Page 78 and 79: APPENDIX C Part II Moody’s ABS Cl
Page 80 and 81: payment thereunder is independent o
Page 82 and 83: APPENDIX C Part III Equivalent Mood
Page 84 and 85: D. COLLATERALISED DEBT OBLIGATIONS:
Page 86 and 87: APPENDIX C Part IV Moody’s Ideali
Page 88 and 89: Input No. Content / Definition such
Page 90: Registered office of the Issuer Cla
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OFFERING CIRCULAR SUPPLEMENT CLARIS LIMITED as Issuer ...

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