ALBA 2007 – 1 plc - Irish Stock Exchange

(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)
(l)
(m)
(n)
the provisions of the CCA and the UTCCR have been complied with to the extent they are in
force and apply to such Ported Mortgage Loan Advance;
the amount of such Ported Mortgage Loan Advance (together with all other Ported Mortgage
Loan 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 Ported Mortgage Loan
Ledger and the Available Capital Funds;
the aggregate amount of (i) the Ported Mortgage Loans Excess and (ii) all previous Further
Advances (including those agreed but not released) does not exceed 10 per cent. of the
aggregate outstanding principal balance of the Mortgage Loans as at the Issue Date, provided
that the then current ratings of the Notes would not be adversely affected by the making of such
Ported Mortgage Loan Advance;
all conditions set out in the applicable Special Servicer Agreement relating to Ported Mortgage
Loans have been satisfied;
there is no negative balance on the Principal Ledger or the Ported Mortgage Loan Ledger;
the Oakwood Lending Criteria applicable at the date of purchase of such Ported Mortgage Loan
Advance are applied to the advance in relation to the Ported Mortgage Loan and to the
circumstances of the Borrower at the time the Ported Mortgage Loan 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 change;
there is no breach of the Warranties in the Mortgage Sale Agreement;
the repayment terms of each Ported Mortgage Loan Advance are substantially the same as the
repayment terms of the initial Mortgage Loan and the margin or terms in relation to the
mortgage interest rate under each Ported Mortgage Loan Advance is at least the same as the
margin or terms in relation to the mortgage interest rate under the initial Mortgage Loan;
following the Ported Mortgage Loan Advance, the product of the WAFF and WALS for the
Mortgage Pool after such advance (and after all other purchases of Further Advances or the
conversion of all Mortgage Loans to be made or converted or Ported Mortgage Loan Advances,
as applicable, on such date) calculated in the same way as for the Completion Mortgage Pool
(or as agreed by the Special Servicer and the Rating Agencies from time to time) would not
exceed the product of the WAFF and WALS for the Mortgage Pool calculated on the
immediately preceding Calculation Date, plus 0.15 per cent.;
following the making of the Ported Mortgage Loan Advance, the weighted average LTV of the
Mortgage Loans in the Mortgage Pool would not exceed the weighted average LTV of the
Mortgage Loans in the Mortgage Pool on the Issue Date by more than 1 per cent.;
that upon the making of a Ported Mortgage Loan Advance, such Ported Mortgage Loan
Advance does not extend the final maturity date of the Ported Mortgage Loans or the Mortgage
Loans in the Mortgage Pool beyond two years prior to the Final Payment Date;