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The notes, which will be characterized as debt for both tax and financial reporting purposes, will represent obligations of SAST 2006-3, a Delaware statutory trust. During the second quarter of 2006, the Company completed the issuances of SAST 2006-1 and SAST 2006-2, totaling $500. The certificates will represent individual ownership interests in the SAST 2006-2 trust, which will be structured as a REMIC for federal income tax purposes, and as a financing for financial accounting purposes. |
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