MASTER AGREEMENT

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ASSET BACKED SECURITIES CORP HOME EQUITY LOAN TRUST, SERIES | International Swap Dealers Association, Inc. | CREDIT SUISSE INTERNATIONAL | U.S. Bank National Association

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Title: MASTER AGREEMENT
Date: 12/15/2006

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m1280d_HE7 (A&O) Master Agreement

(Multicurrency—Cross Border)

ISDA®

International Swap Dealers Association, Inc.

MASTER AGREEMENT

dated as of November 30, 2006

CREDIT SUISSE INTERNATIONAL

(“Party A”)

And

THE SUPPLEMENTAL INTEREST TRUST CREATED UNDER THE POOLING AND SERVICING AGREEMENT FOR ASSET BACKED SECURITIES CORPORATION HOME EQUITY LOAN TRUST, SERIES AMQ 2006-HE7

("Party B")

have entered and/or anticipate entering into one or more transactions (each a “Transaction”) that are or will be governed by this Master Agreement, which includes the schedule (the “Schedule”), and the documents and other confirming evidence (each a “Confirmation”) exchanged between the parties confirming those Transactions.

Accordingly, the parties agree as follows:—

Interpretation

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