Untitled - Irish Stock Exchange

Notwithstanding the foregoing, for purposes of determining the Moody's Advance Amount,
(i)
the Market Value of any Unhedged Foreign Investment shall be 95% of the Market Value
thereof otherwise determined in accordance with the above procedures; provided that, if
the Foreign Issuer of such Unhedged Foreign Investment is from a country whose
sovereign debt rating in a non-local currency is not assigned a rating of "AA" or better by
S&P or better by Moody's, the Market Value of such Unhedged Foreign Investment shall
be 85% of the Market Value thereof otherwise determined in accordance with the above
procedures;
(ii) the percentage applicable above to Cash in a currency other than Dollars shall be 95%
(and not 100%; provided that if such Cash is the currency of a country whose sovereign
debt rating in a non-local currency is not assigned a rating of "AA" or better by S&P or
"Aa2" or better by Moody's, the applicable percentage shall be 85%), unless such Cash is
protected against currency fluctuations as a result of Secured Hedging Transactions or
borrowings under the Credit Agreement in the applicable foreign currency, in which case,
the percentage applicable shall be 100%; and
(iii)
the Market Value of any Non-Cash Pay Instrument that is not a U.S. Government
Security shall be 95% of the Market Value thereof otherwise determined in accordance
with the above procedures.
"Senior Over-Collateralization Test" is a test that is satisfied as of any Business Day if (a) the
Outstanding Principal Amount of Debt under the Credit Agreement is less than or equal to (b) the Moody's Advance
Amount calculated using the Senior Advance Rate as of such Business Day.
"Class B Over-Collateralization Test" is a test that is satisfied as of any Business Day if (a) the sum, as of
such Business Day, of (i) the Outstanding Principal Amount of Debt under the Credit Agreement plus (ii) the
Outstanding Principal Amount of the Class B Notes is less than or equal to (b) the Moody's Advance Amount
calculated using the Class B Advance Rate as of such Business Day.
"Class C Over-Collateralization Test" is a test that is satisfied as of any Business Day if (a) the sum, as of
such Business Day, of (i) the Outstanding Principal Amount of Debt under the Credit Agreement plus (ii) the
Outstanding Principal Amount of the Class B Notes and the Class C Notes is less than or equal to (b) the Moody's
Advance Amount calculated using the Class C Advance Rate as of such Business Day.
"Class D Over-Collateralization Test" is a test that is satisfied as of any Business Day if (a) the sum, as of
such Business Day, of (i) the Outstanding Principal Amount of Debt under the Credit Agreement plus (ii) the
Outstanding Principal Amount of the Class B Notes, the Class C Notes and the Class D Notes is less than or equal to
(b) the Moody's Advance Amount calculated using the Class D Advance Rate as of such Business Day.
"Class E Over-Collateralization Test" is a test that is satisfied as of any Business Day if (a) the sum, as of
such Business Day, of (i) the Outstanding Principal Amount of Debt under the Credit Agreement plus (ii) the
Outstanding Principal Amount of all the Rated Notes, is less than or equal to (b) the Moody's Advance Amount
calculated using the Class E Advance Rate as of such Business Day.
"Over-Collateralization Test" means the Senior Over-Collateralization Test, the Class B Over-
Collateralization Test, the Class C Over-Collateralization Test, the Class D Over-Collateralization Test and the
Class E Over-Collateralization Test.
For purposes of the Over-Collateralization Test, the Issuer shall assign each Fund Investment to one of the
following ten categories (each, an "Asset Category") commencing upon the initial acquisition thereof (and, for
purposes of this categorization, the Market Value Price of a Fund Investment trading at par is equal to $1.00):
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