Untitled - Irish Stock Exchange

"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 S&P 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 S&P 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 S&P
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 S&P 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 S&P 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 categories (each, "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):
"Asset Category A-1 Investments" means (a) Cash and (b) Cash Equivalents described in clause (vi) of
the definition of such term and (c) Cash Equivalents described in clauses (i), (ii), (iii) or (iv) of the definition of such
term that mature on the Business Day next following the date of acquisition thereof.
"Asset Category A-2 Investments" means Cash Equivalents (other than Cash in U.S. dollars, U.S.
Government Securities and Cash Equivalents described in clauses (b) or (c) of the definition of Asset Category A-1
Investments) and U.S. Government Securities with maturities of less than or equal to 183 days.
"Asset Category A-3 Investments" means U.S. Government Securities with final maturities more than 183
days but less than or equal to two (2) years.
"Asset Category A-4 Investments" means U.S. Government Securities with final maturities more than two
(2) years but less than or equal to five (5) years.
"Asset Category B-1 Investments" means Bank Loans which (i) are Performing; (ii) are priced by an
Approved Source; and (iii) have a Market Value Price greater than or equal to $0.90.
"Asset Category B-2 Investments" means Bank Loans which (i) are Performing; (ii) are priced by an
Approved Source; and (iii) have a Market Value Price greater than or equal to $0.85 but less than $0.90.
"Asset Category C-1 Investments" means High Yield Securities and Mezzanine Investments which (i) are
Performing, (ii) are priced by an Approved Source and (iii) have an S&P OC Test Rating of "BBB+" or better.
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