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Untitled - Irish Stock Exchange

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If any the Notes to be redeemed are listed on the <strong>Irish</strong> <strong>Stock</strong> <strong>Exchange</strong>, the Trustee will also<br />

deliver notice of such redemption to the <strong>Irish</strong> Paying Agent, which will forward such notice to the <strong>Irish</strong><br />

<strong>Stock</strong> <strong>Exchange</strong>.<br />

Additional Issuance<br />

From time to time, at the direction of the Investment Manager, the Issuer may issue and sell<br />

additional Notes (the "Additional Notes") to qualified tax-exempt investors and Non-U.S. Holders and<br />

other investors outside of the United States, its territories or possessions who wish to indirectly acquire an<br />

interest in the Income Notes; provided, that the proceeds from the sale of such Additional Notes shall be<br />

used to acquire additional Income Notes (the "Additional Underlying Income Notes") from a holder of<br />

such Income Notes in accordance with the transfer requirements applicable to a transfer of Income Notes,<br />

with the same principal amount of such Additional Notes sold. Upon the acquisition of such Additional<br />

Underlying Income Notes, such Additional Underlying Income Notes shall be deemed to be "Underlying<br />

Income Notes" for all purposes. Upon the issuance of such Additional Notes, the Trustee shall<br />

authenticate and deliver, or cause to be delivered, as directed by the Investment Manager, such Additional<br />

Notes to the purchaser thereof and such Additional Notes shall be deemed to be "Notes" for all purposes.<br />

A "Non-U.S. Holder" means a beneficial owner of Notes who is neither a United States Person<br />

nor a partnership.<br />

Payments<br />

Payments in respect of any Note will be made to the person in whose name such Note is<br />

registered (the "Noteholder") in a note register (the "Note Register") maintained by the Note Registrar,<br />

on the 15th day (whether or not a Business Day) prior to the applicable Distribution Date (the "Record<br />

Date"). Payments on Certificated Notes will be made by a U.S. Dollar check drawn on a bank in the<br />

United States mailed to such investor or by wire transfer in immediately available funds to a U.S. Dollar<br />

account maintained by such investor; provided that wiring instructions have been provided to the Trustee<br />

on or before the related Record Date. Payments on the Global Note will be made by wire transfer in<br />

immediately available funds to a U.S. Dollar account maintained by DTC or its nominee or, if wire<br />

transfer cannot be affected, by a U.S. Dollar check drawn on a bank in the United States mailed to DTC<br />

or its nominee. Final payments in respect of principal on the Notes will be made only against surrender of<br />

the applicable Note at the principal corporate trust office of the Trustee or at the office of the Paying<br />

Agent. None of the Issuer, the Trustee or any paying agent will have any responsibility or liability for<br />

any aspects of the records maintained by DTC or its nominee or any of its participants relating to or for<br />

payments made thereby on account of beneficial interests in a Global Note.<br />

The Issuer expects that DTC or its nominee, upon receipt of any payment of principal or interest<br />

in respect of a Global Note held by DTC or its nominee, will immediately credit participants' accounts<br />

with payments in amounts proportionate to their respective beneficial interests in such Global Note as<br />

shown on the records of DTC or its nominee. The Issuer also expects that payments by participants to<br />

owners of beneficial interests in such Global Note held through such participants will be governed by<br />

standing instructions and customary practices, as is now the case with securities held for the accounts of<br />

customers registered in the names of nominees for such customers. Such payments will be the<br />

responsibility of such participants.<br />

If any payment on the Notes is due on a day that is not a Business Day, then payment will be<br />

made on the next succeeding Business Day with the same force and effect as if made on the date for<br />

payment, and no interest will accrue for the period from or after that day. For this purpose, "Business<br />

Day" means any day except a Saturday, Sunday or other day on which commercial banks are authorized<br />

or obligated by law, regulation or executive order to close in (i) New York City, (ii) the Cayman Islands,<br />

11

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