Novation Confirmation
Date:
6 February
2007
To:
U.S. Bank National
Association, not in its individual capacity but solely as Trustee
on behalf of the Supplemental Interest Trust created under the
Pooling and Servicing Agreement in respect of Asset Backed
Securities Corporation Home Equity Loan Trust, Series RFC
2007-HE1
To:
Credit Suisse Management
LLC
From:
Credit Suisse
International (“ CSIN ”)
Re:
Novation
Transaction
External ID:
9357467NOV
______________________________________________________________________________
Dear
Sir/Madam:
The purpose of this
letter is to confirm the terms and conditions of the Novation
Transaction entered into between the parties and effective from the
Novation Date specified below. This Novation Confirmation
constitutes a "Confirmation" as referred to in the New Agreement
specified below.
1.
The definitions and
provisions contained in the 2004 ISDA Novation Definitions (the
"Definitions") and the terms and provisions of the 2000 ISDA
definitions (the "Product Definitions"), each as published by the
International Swaps and Derivatives Association, Inc. and amended
from time to time, are incorporated in this Novation Confirmation.
In the event of any i