Untitled - Irish Stock Exchange

Securities Act (or any successor provision thereto), (d) that are not Cash Equivalents or CDO Securities and (e) that
the Issuer deems to be "mezzanine investments."
"Moody's" means Moody's Investors Service, Inc., or any successor thereto.
"Net Accrual Amount" means, as of any date, an amount, which may be positive or negative, equal to (i)
the aggregate amount of accrued interest payable to the Issuer on all interest-bearing Eligible Investments as of such
date minus (ii) the aggregate amount of accrued interest payable by the Issuer as of such date in respect of the loans
under the Credit Agreement and the Rated Notes minus (iii) the amount of anticipated Base Management Fees for
the following 45 days subsequent to such date minus (iv) the amount of the anticipated fees of the Trustee for the
following 45 days subsequent to such date minus (v) the amount of any extraordinary or non-customary fees or
liabilities anticipated for the following 45 days subsequent to such date. Any such amounts not payable in Dollars
shall be converted into Dollars at the then current spot rate (after taking into account the effect of any Currency
Hedging Transaction with respect thereto).
"Non-Cash Pay Instrument" means (1) a High Yield Security or Mezzanine Investment which falls in
Asset Category C-1, C-2, C-3, D-1, D-2, D-3, E-1, E-2, E-3, F-1, F-2, F-3, G-1, G-2, G-3, G-4, G-5, G-6, G-7, G-8,
G-9, G-10 or H that (a) does not provide for the payment of cash interest, or preferred dividends or provides for the
total deferral of interest until the final maturity thereof, (b) is a debt security that has an initial rate of interest on the
date of purchase or acquisition thereof of less than 5% per annum and provides for an increase in the rate of interest
payable in respect thereof at any time after the date it was purchased or acquired (other than any increase resulting
from (i) a change in a generally recognized floating rate interest rate index, (ii) a change in the weighted average
interest rate on underlying collateral in the case of Securities the interest rate on which is based on such weighted
average interest rate or (iii) a change in an interest rate spread or margin resulting from an announced change in the
rating of the issuer's debt obligations) or (c) is a debt security that provides for the partial deferral of interest until
the final maturity thereof and which has cash interest payable without deferral at a rate per annum less than (x) with
respect to Fund Investments bearing interest at a fixed rate, 9% per annum and (y) with respect to Fund Investments
bearing interest at a floating rate, a eurodollar rate plus 2% per annum or (2) a CDO Debt Security on which any
interest due thereon has been deferred in whole or in part and remains unpaid. For purposes of clause (1)(b) of this
definition, if the interest rate is increased to 5% or more per annum, then at the time of the increase of such interest
rate, the Security will cease to be a "Non-Cash Pay Instrument."
"Non-Credit Risk Security" means a security with respect to which an institutional money manager would
evaluate its value primarily by reference to factors other than (a) the coupon (or the coupon as adjusted for any
purchase discount or premium) in relation to prevailing market yields, (b) the credit worthiness of the issuing entity
or (c) the adequacy of the underlying financial assets supporting such security to ensure the repayment of the
security according to its terms (which adequacy may be measured by a credit analysis of the likelihood of the
obligors of such underlying assets to pay according to the terms of such underlying assets and/or an analysis of the
sufficiency of the income streams thereon to meet the payment terms of the security).
"Outstanding Principal Amount" means (i) with respect to a Rated Note, the principal amount of the
Note at the time of initial issuance, increased, in the case of a Class B Note, Class C Note, Class D Note or Class E
Note, by the amount of any blocked interest added to the principal thereof and decreased by the cumulative sum of
all principal payments made on such Note and (ii) with respect to the Credit Agreement, the outstanding total
borrowings under the Credit Agreement at any given time.
"Performing" means, (i) with respect to any Fund Investment that is a Bank Loan or other debt, the issuer
of such Fund Investment is not in default of any payment obligations in respect thereof, (ii) with respect to any Fund
Investment that is Preferred Stock, the issuer of such Fund Investment has not failed to meet any scheduled
redemption obligations or to pay its latest declared cash dividend, (iii) with respect to any Fund Investment that is a
CDO Debt Security, the issuer of such Fund Investment has not failed to pay any current principal or interest in cash
when due, or (iv) the issuer of such Fund Investment has not filed or petitioned for bankruptcy.
"Person" means an individual, a corporation, a partnership, a limited liability company, an association, a
trust or any other entity or organization, including a government or political subdivision or an agency or
instrumentality thereof.
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