- i - ADAGIO II CLO PLC - Irish Stock Exchange

Class C Notes and, following redemption in full thereof,
non-payment of interest on the Class D Notes and, following
redemption in full thereof, non-payment of interest on the
Class E Notes shall (upon expiry of the applicable grace
period) constitute an Event of Default.
Combination Notes: Non-payment of interest on any of the
Combination Notes will only affect such Combination Notes
to the extent that the corresponding Components of such
Combination Notes are affected as described above.
Non-call Period:
Reinvestment Period:
Principal Repayments:
The period from, and including, the Closing Date to, but
excluding, 15 January 2010 or, if such day is not a Business
Day, the immediately following Business Day will constitute
the "Non-Call Period".
The period from, and including, the Closing Date to, and
including, 15 January 2013 or, if such day is not a Business
Day, the immediately following Business Day will constitute
the "Reinvestment Period".
Principal repayments of the Notes may be made in the
following circumstances:
(a)
(b)
(c)
(d)
(e)
on the Maturity Date of the Notes;
upon an Effective Date Rating Event (as defined in
the Conditions);
upon breach of any Coverage Test;
on each Payment Date after the end of the Non-Call
Period but during the Reinvestment Period at the
option of the Portfolio Manager, Principal Proceeds
may be applied in redemption of the Notes in
accordance with the Priorities of Payment;
pursuant to an optional redemption of the Notes in
full by the Class F Subordinated Noteholders in
accordance with the Conditions;
(i)
(ii)
after expiry of the Non-Call Period; or
following the occurrence of a Collateral Tax
Event;
(f)
pursuant to an optional redemption of the Notes in
full by the Noteholders of the Controlling Class and
the Class F Subordinated Noteholders in accordance
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