ALBA 2007 – 1 plc - Irish Stock Exchange

Further Advances
The Seller may make Further Advances to Borrowers, the beneficial title of which may be purchased by
the Issuer. Prior to the funding and purchase of such Further Advances, the Special Servicer (on behalf
of the Issuer) will apply the Oakwood Lending Criteria and ensure the satisfaction of, inter alia, the
following conditions prior to such purchase:
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)
(l)
immediately prior to the making of any Further Advance, the relevant Borrower is not in
material breach of any of the conditions of the relevant Borrower's existing Mortgage Loan and
the relevant Borrower has no Arrears Balance;
the provisions of the CCA and the UTCCR have been complied with to the extent they are in
force and apply to such Further Advance;
the amount of such Further Advance (together with all other Further Advances made on that
day) does not exceed an amount calculated by the Special Servicer equal to the aggregate of the
amounts standing to the credit of the Further Advances Ledger and the Available Capital Funds;
prior to making the Further Advance no second mortgage or charge has been created over the
relevant Property unless such second mortgage or charge has been expressly postponed by deed
to the Mortgage securing such Further Advance or unless the loan secured by such second
charge is to be, and is, redeemed out of the proceeds of the Further Advance simultaneously
with the making of the Further Advance;
the aggregate amount of (i) such Further Advance when added to the amount of all previous
Further Advances (including those agreed but not disbursed) and (ii) all previous Ported
Mortgage Loans Advances in excess of the related aggregate principal balance of the initial
Mortgage Loans which have been redeemed (the "Ported Mortgage Loans Excess") do not
exceed 10 per cent. of the aggregate outstanding principal balance of the Mortgage Loans as at
the Issue Date and provided that the then current ratings of the Notes would not be adversely
affected by the making of such Further Advance;
all conditions set out in the applicable Special Servicer Agreement relating to Further Advances
have been satisfied;
there is no negative balance on the Principal Ledger or the Further Advances Ledger;
the Oakwood Lending Criteria applicable at the date of purchase of such Further Advance are
applied to the Further Advance and to the circumstances of the Borrower at the time the Further
Advance is requested;
no Enforcement Notice has been given by the Trustee which remains in effect;
the total balance of all Mortgage Loans in the Mortgage Pool which are (i) more than 90 days in
arrears and (ii) in repossession does not together exceed 20 per cent. of the total balance of all
the Mortgage Loans in the Mortgage Pool as at the previous Calculation Date, provided that the
then current ratings of the Notes would not be adversely affected by such purchase;
there has been no material breach by the Seller in the last 24 months of any obligation on its
part to repurchase any Mortgage Loan in accordance with the Mortgage Sale Agreement;
there is no breach of the Warranties in the Mortgage Sale Agreement;