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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


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