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13D
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________________
SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1)*
TENNENBAUM OPPORTUNITIES PARTNERS V, LP
(Name of Issuer)
Series A Cumulative Preferred Interests
(Title of Class of Securities)
N/A
(CUSIP Number)
Bank of America Corporation
Bank of America Corporate Center
100 N. Tryon Street, 25th Floor
Charlotte, North Carolina 28255
(704) 386-7839
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 30, 2007
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject of this
Schedule 13D, and is filing this schedule because of Rule 13d-1(e),
13d-1(f) or 13d-1(g), check the following box. [ ]
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits.
See Rule 13d-7 for other parties to whom copies are to be sent.
___________________________
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a
prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
BANK OF AMERICA CORPORATION 56-0906609
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
[ ]
(b)
[ ]*
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
------------------------------------------------
------------------------------------------------
8 SHARED VOTING POWER
3,757.6142
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------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
------------------------------------------------
------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,757.6142
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
3,757.6142
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.84%
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14 TYPE OF REPORTING PERSON
CO
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
NB HOLDINGS CORPORATION 56-1857749
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
[ ]
(b)
[ ]*
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------
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7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
------------------------------------------------
------------------------------------------------
8 SHARED VOTING POWER
3,757.6142
------------------------------------------------
------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
------------------------------------------------
------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,757.6142
-----------------------------------------------------------
-----------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
3,757.6142
-----------------------------------------------------------
-----------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES
[ ]
-----------------------------------------------------------
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.84%
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14 TYPE OF REPORTING PERSON
CO
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
BANK OF AMERICA, NATIONAL
ASSOCIATION 94-1687665
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-----------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
[ ]
(b)
[ ]*
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3 SEC USE ONLY
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-----------------------------------------------------------
4 SOURCE OF FUNDS
WC
-----------------------------------------------------------
-----------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
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-----------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
-----------------------------------------------------------
-----------------------------------------------------------
7 SOLE VOTING POWER
3,757.6142
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
------------------------------------------------
------------------------------------------------
8 SHARED VOTING POWER
0
------------------------------------------------
------------------------------------------------
9 SOLE DISPOSITIVE POWER
3,757.6142
------------------------------------------------
------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-----------------------------------------------------------
-----------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
3,757.6142
-----------------------------------------------------------
-----------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES
[ ]
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-----------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.84%
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14 TYPE OF REPORTING PERSON
BK
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.
Item 1. Security and Issuer.
This Amendment No. 1 to Schedule 13D amends and supplements the
Schedule 13D filed with the Securities and Exchange Commission (the
"Commission") on January 5, 2007 (as amended, the "Schedule 13D")
and relates to the Series A Cumulative Preferred Interests (the
"Preferred Interests") of Tennenbaum Opportunities Partners V, LP, a
Delaware limited partnership (the "Issuer"). The
principal executive offices of the Issuer are located c/o Tennenbaum
Capital Partners, LLC, 2951 28th Street, Suite 1000,
Santa Monica, California 90405.
Item 2. Identity and Background.
This Statement is being filed pursuant to Rule 13d-1(a) of the
Securities Exchange Act of 1934, as amended, by Bank of America
Corporation, a Delaware corporation ("Bank of America"), NB Holdings
Corporation, a Delaware corporation ("NB Holdings") and Bank of
America, National Association, ("BANA"; Bank of America, NB Holdings
and BANA shall be referred to herein in the aggregate as the
"Reporting Persons").
Bank of America is a bank holding company registered under the
Bank Holding Company Act of 1956, as amended, and is engaged in the
general banking and financial services business through its
subsidiaries.
NB Holdings Corporation is a holding company engaged in the
business of being the intermediate holding company of BANA.
BANA is a banking association chartered with the Office of the
Comptroller of the Currency, is engaged in the business of being a
full-service commercial bank.
The principal address of the Reporting Persons is Bank of
America Corporate Center, 100 N. Tryon Street, Charlotte, North Carolina
28255.
Information concerning each executive officer, director and
controlling person of each of the Reporting Persons (the "Listed
Persons") is listed on Schedule I attached hereto, and is
incorporated by reference herein. To the knowledge of the Reporting
Persons, all of the Listed Persons are citizens of the
United States.
Other than as set forth on Schedule II, during the last five
years, none of the Reporting Persons, and to the best knowledge of
the Reporting Persons, none of the Listed Persons, has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction as a
result of which such person was or is subject to a judgment, decree
or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws,
or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
BANA acquired the Preferred Shares for $75,152,284.26 using its
working capital.
Item 4. Purpose of Transaction
BANA acquired the Preferred Interests for investment purposes.
Item 5. Interest in Securities of the Issuer
(a) BANA directly beneficially owns, NB Holdings may be deemed
to own by virtue of its being the parent company of BANA, and Bank
of America may be deemed to beneficially own by virtue of its being
the parent company of NB Holdings, 3,757.6142 shares of Preferred
Interests, representing approximately 22.84% of the outstanding
Preferred Interests.
Except as set forth in this Item 5(a), the Reporting Persons do
not beneficially own any Preferred Interests.
(b) BANA has sole power, NB Holdings may be deemed to have sole
power by virtue of its being the parent company of BANA, and Bank of
America may be deemed to have sole power by virtue of its being the
parent company of NB Holdings, to vote or direct the vote and to
dispose or to direct the disposition of the Preferred Interests
reported hereby.
(c) The Preferred Interests identified in Item 5(a) hereof were
acquired on March 30, 2007. Except as identified in the preceding
sentence, the Reporting Persons have not effected any transaction in
the Preferred Interests during the past 60 days.
(d) Not applicable.
(e) Not applicable.
Item 6 Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
Not applicable
Item 7. Material to Be Filed as Exhibits
Exhibit Name
99.1 Joint Filing Agreement, dated as of April 5,
2007 by and among the Reporting Persons
SIGNATURE
After reasonable inquiry and to the best of the knowledge and
belief of each of the undersigned, each of the undersigned certifies
that the information set forth in this statement is true, complete
and correct.
Dated: April 5, 2007
BANK OF AMERICA CORPORATION
NB HOLDINGS CORPORATION
BANK OF AMERICA, NATIONAL
ASSOCIATION
By: /s/ Charles F. Bowman
Name: Charles F. Bowman
Title: Senior Vice President
SCHEDULE I
EXECUTIVE OFFICERS AND DIRECTORS OF THE REPORTING PERSONS
The following sets forth the name, business address, and present
principal occupation of each executive officer and director of Bank
of America Corporation.
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Name Position with Principal Occupation
Bank of America
Corporation
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Kenneth D. Chairman, Chief Chairman, Chief
Lewis Executive Executive Officer and
Officer, President of Bank of
President and America Corporation
Director
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Liam E. McGee President, President, Global
Global Consumer Consumer and Small
and Small Business Banking of
Business Banking Bank of America
Corporation
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Brian T. President, President, Global
Moynihan Global Wealth Wealth and Investment
and Investment Management of Bank of
Management America Corporation
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R. Eugene Vice Chairman, Vice Chairman,
Taylor President, President, Global
Global Corporate Corporate and
and Investment Investment Banking of
Banking Bank of America
Corporation
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Joe L. Price Chief Financial Chief Financial
Officer Officer of Bank of
America Corporation
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Amy Woods Global Risk Global Risk Executive
Brinkley Executive of Bank of America
Corporation
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Barbara J. Global Global Technology,
Desoer Technology, Service and
Service and Fulfillment Executive
Fulfillment of Bank of America
Executive Corporation
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William Director Chairman, President
Barnet, III and Chief Executive
Officer of The Barnet
Company
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Frank P. Director Former Executive
Bramble, Sr. Officer of MBNA
Corporation
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John T. Director Chief Executive
Collins Officer of The Collins
Group, Inc.
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Gary L. Director Chairman Emeritus of
Countryman Liberty Mutual Group
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Tommy R. Director Retired General,
Franks United States Army
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Paul Fulton Director Chairman of Bassett
Furniture Industries,
Inc.
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Charles K. Director Former Chairman of
Gifford Bank of America
Corporation
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W. Steven Director Dean of Kenan-Flagler
Jones Business School,
University of North
Carolina at Chapel Hill
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Monica Lozano Director Publisher and Chief
Executive Officer of
La Opinion
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Walter E. Director President of Morehouse
Massey College
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Thomas J. May Director Chairman of President
and Chief Executive
Officer, NSTAR
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Patricia E. Director President and Chief
Mitchell Executive Officer of
The Museum of
Television and Radio
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Thomas M. Ryan Director Chairman, President
and Chief Executive
Officer of CVS
Corporation
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O. Temple Director Chairman of the
Sloan, Jr. International Group,
Inc.
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Meredith R. Director Director of C.D.
Spangler Spangler Construction
Company, Chairman of
the Board of C.D.
Spangler Foundation,
Trustee of Wellesley
College Board of
Trustees
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Robert L. Director Chairman and CEO
Tillman Emeritus of Lowe's
Companies, Inc.
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Jackie M. Ward Director Retired Chairman/CEO,
Computer Generation
Incorporated
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The following sets forth the name, business address, and present
principal occupation of each executive officer and director of NB
Holdings Corporation.
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Name Position with NB Principal Occupation
Holdings
Corporation
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Kenneth D. Chairman, Chief Chairman, Chief
Lewis Executive Executive Officer and
Officer, President of Bank of
President and America Corporation
Director
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Gregory L. President Global Corporate
Curl Planning and Strategic
Executive of Bank of
America Corporation
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Joe L. Price Chief Financial Chief Financial
Officer and Officer of Bank of
Director America Corporation
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Amy Woods Global Risk Global Risk Executive
Brinkley Executive and of Bank of America
Director Corporation
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The following sets forth the name, business address, and present
principal occupation of each executive officer and director of Bank
of America, National Association.
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Name Position with Principal Occupation
Bank of America,
National
Association
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R. Eugene Director and Vice Chairman,
Taylor Vice Chairman President, Global
Corporate and
Investment Banking of
Bank of America
Corporation
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Liam E. McGee Director and President, Global
President, Consumer and Small
Global Consumer Business Banking of
and Small Bank of America
Business Banking Corporation
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Brian T. Director and President, Global
Moynihan President, Wealth and Investment
Global Wealth Management of Bank of
and Investment America Corporation
Management
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R. Eugene Director and Vice Chairman,
Taylor President, President, Global
Global Corporate Corporate and
and Investment Investment Banking of
Banking Bank of America
Corporation
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Joe L. Price Director and Risk Management
Chief Financial Executive, Global
Officer Corporation and
Investment Banking of
Bank of America
Corporation
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Amy Woods Director and Global Risk Executive
Brinkley Global Risk of Bank of America
Executive Corporation
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Barbara J. Director and Global Technology,
Desoer Global Service and
Technology Fulfillment Executive
Service and of Bank of America
Fulfillment Corporation
Executive
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Kenneth D. Chairman, Chief Chairman, Chief
Lewis Executive Executive Officer and
Officer and President of Bank of
President America Corporation
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SCHEDULE II
BANK OF AMERICA CORPORATION ("BANK OF AMERICA") ENTERED INTO A CIVIL
SETTLEMENT AGREEMENT WITH THE NEW YORK COUNTY (NEW YORK) DISTRICT
ATTORNEY ON SEPTEMBER 28, 2006. THE AGREEMENT PROVIDES THAT, FROM
ABOUT 2002 TO 2004, BANK OF AMERICA HAD DEFICIENCIES IN CERTAIN
INTERNAL ANTI-MONEY LAUNDERING CONTROLS AND FAILED TO REACT
APPROPRIATELY TO THE RISK PRESENTED BY CERTAIN SOUTH AMERICAN MONEY
SERVICES BUSINESS CUSTOMERS, WHO MOVED FUNDS ILLEGALLY THROUGH BANK
OF AMERICA. THE AGREEMENT REQUIRES BANK OF AMERICA TO MAKE A TOTAL
PAYMENT OF $7.5 MILLION, TO COOPERATE WITH THE DISTRICT ATTORNEY IN
ONGOING INVESTIGATIONS, AND TO ABIDE BY ANTI-MONEY LAUNDERING
CHANGES RECOMMENDED BY BANK OF AMERICA'S REGULATORS.
THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM AND THE RESERVE
BANK REVIEWED CERTAIN ACTIVITIES OF BANK OF AMERICA'S WEALTH AND
INVESTMENT MANAGEMENT GROUP. THE RESERVE BANK RAISED CONCERNS THAT
BANK OF AMERICA AND ITS SUBSIDIARIES DID NOT ADEQUATELY ASSESS THE
LEGAL AND REPUTATIONAL RISKS POSED BY CERTAIN MUTUAL FUND TRADING
ACTIVITIES AND ADDRESS FLAWS IN COMPLIANCE AND RISK MANAGEMENT
PERTAINING TO THE ASSET MANAGEMENT LINES OF BUSINESS. FOLLOWING THAT
REVIEW, THE BANK AND THE RESERVE BANK EXECUTED A WRITTEN AGREEMENT
TO ENSURE THAT THE BANK AND ITS SUBSIDIARIES MAKE PROGRESS IN THEIR
EFFORTS TO ADOPT AND IMPLEMENT NUMEROUS CORRECTIVE ACTIONS AND BEST
PRACTICE RECOMMENDATIONS. BANK OF AMERICA HAS AGREED TO CONTINUE TO
TAKE STEPS TO ADOPT AND IMPLEMENT CORRECTIVE ACTIONS AND BEST
PRACTICE RECOMMENDATIONS OF THE INDEPENDENT CONSULTANTS AND TO
ENHANCE THE ENTERPRISE-WIDE COMPLIANCE PROGRAM TO ENSURE COMPLIANCE
WITH ALL APPLICABLE LAWS AND REGULATIONS, INCLUDING BUT NOT LIMITED
TO SECURITIES LAWS AND REGULATIONS INCLUDING, AMONG OTHER THINGS, A
PROCESS FOR RESOLVING OR ESCALATING COMPLIANCE ISSUES, ONGOING
TRAINING ON POLICIES AND PROCEDURES FOR COMPLIANCE WITH LAWS AND
REGULATIONS FOR CERTAIN STAFF OF BANK OF AMERICA AND ITS
SUBSIDIARIES, ENSURE PROCESSES FOR AN ENHANCED APPROVAL PROCESS FOR
NEW CLIENTS, NEW OR UNIQUE INVESTMENT PRODUCTS, SERVICES OR
TRANSACTIONS, AND MATERIAL CHANGES TO EXISTING PRODUCTS OR SERVICES,
PROCEDURES TO ENSURE THOROUGH ASSESSMENT OF RISKS, POLICIES AND
PROCEDURES TO ENSURE PRODUCTS, SERVICES AND ARRANGEMENTS ARE
CONSISTENT WITH BUSINESS EXPERTISE, STRATEGY AND APPROVED RISK
PROFILE, PROCEDURES FOR INTERNAL AUDIT, MECHANISMS FOR PERIODIC
REVIEWS, MONITORING OF ENTERPRISE-WIDE ADOPTION AND EXECUTION OF NEW
POLICIES AND PROCEDURES AND OTHER RECOMMENDATIONS OF THE INDEPENDENT
CONSULTANTS, AND SUBMISSION OF PROGRESS REPORTS TO RESERVE BANK.
THE SECURITIES AND EXCHANGE COMMISSION (THE "SEC") FOUND THAT IN
1997 AND 1998, BANKAMERICA CORPORATION ("BANKAMERICA"), PREDECESSOR
OF BANK OF AMERICA, VIOLATED VARIOUS EXCHANGE ACT ACCOUNTING AND
REPORTING PROVISIONS WITH RESPECT TO A BUSINESS ALLIANCE BETWEEN
BANKAMERICA AND D.E. SHAW SECURITIES GROUP, L.P. AND RELATED
ENTITIES. ON JULY 30, 2001, WITHOUT ADMITTING OR DENYING THE
ALLEGATIONS, CHARGES OR FINDINGS, BANK OF AMERICA CONSENTED TO ENTRY
OF AN ADMINISTRATIVE ORDER PROVIDING THAT IT CEASE AND DESIST FROM
COMMITTING OR CAUSING ANY FUTURE VIOLATIONS OF THE EXCHANGE ACT
ACCOUNTING AND REPORTING PROVISIONS CITED IN THE SEC'S ALLEGATIONS.
ON JULY 30, 2001, THE SEC FOUND THAT, IN 1997 AND 1998, BANKAMERICA
(I) INCORRECTLY ACCOUNTED FOR A FINANCIAL RELATIONSHIP, AND (II)
MADE INADEQUATE DISCLOSURES RELATED TO RISK IN EXCHANGE ACT REPORT
FILINGS WITH THE SEC, IN CONNECTION WITH A BUSINESS ALLIANCE WITH
D.E. SHAW SECURITIES GROUP, L.P. AND RELATED ENTITIES. ON THE SAME
DATE, WITHOUT ADMITTING OR DENYING THE SEC'S ALLEGATIONS, CHARGES OR
FINDINGS, BANK OF AMERICA CONSENTED TO ENTRY OF AN ADMINISTRATIVE
ORDER PROVIDING THAT IT CEASE AND DESIST FROM COMMITTING OR CAUSING
ANY FUTURE VIOLATIONS OF THE EXCHANGE ACT ACCOUNTING AND REPORTING
PROVISIONS CITED IN THE SEC'S ALLEGATIONS.
Exhibit 99.1
JOINT FILING AGREEMENT
JOINT FILING AGREEMENT, dated as of the 5th day of April,
2007, between (i) Bank of America Corporation, (ii) NB Holdings
Corporation and (iii) Bank of America, National Association
(collectively, the "Joint Filers").
WHEREAS, pursuant to Rule 13d-1(k)(1) under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), the parties
hereto desire to satisfy any filing obligation under Section 13(d)
of the Exchange Act by a single joint filing;
NOW, THEREFORE, in consideration of the premises and the
mutual covenants herein contained, the Joint Filers hereby agree and
represent as follows:
1. The Schedule 13D/A with respect to the Series A
Cumulative Preferred Interests of Tennenbaum Opportunities Partners
V, LP, a Delaware limited partnership (to which this Joint Filing
Agreement is an exhibit) is filed on behalf of each of the Joint
Filers.
2. Each of the Joint Filers is eligible to use Schedule
13D/A for the filing of information therein.
3. Each of the Joint Filers is responsible for the timely
filing of Schedule 13D/A and any amendments thereto, and for the
completeness and accuracy of the information concerning such person
contained therein, provided that each such person is not responsible
for the completeness or accuracy of the information concerning the
other persons making the filing, unless such person knows or has
reason to believe that such information is inaccurate.
4. This Joint Filing Agreement may be executed in one or
more counterparts, all of which taken together shall constitute one
and the same instrument.
BANK OF AMERICA CORPORATION
NB HOLDINGS CORPORATION
BANK OF AMERICA, NATIONAL ASSOCIATION
By: /s/ Charles F. Bowman
Name: Charles F. Bowman
Title: Senior Vice President