ALBA 2007 â 1 plc - Irish Stock Exchange

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(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;
(o) (p) (q) the balance of the Ported Mortgage Loan Advance will be less than the related Ported Mortgage Loan balance (including, for the avoidance of doubt, any capitalised fees and interest) in relation to a Borrower who is in arrears at the time the porting is requested; the LTV of the Ported Mortgage Loan Advance will not exceed the maximum allowed LTV for the mortgage product relating to the Ported Mortgage Loan; and there is no debit balance on any Principal Deficiency Ledger.
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ALBA 2007 - 1 plc (Incorporated in
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As a condition to the issue of the
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PLC (in its capacity as account ban
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In connection with the issue and di
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SUMMARY INFORMATION This summary mu
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(a) (b) (c) the Completion Mortgage
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A2 Notes will rank in priority to t
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Noteholders and (iii) limiting the
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Principal Amount Outstanding togeth
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applicable, subject to the payment
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Agreement, the Cash Management, Mas
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Loans to the extent they accrue a f
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RISK FACTORS The following is a sum
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described in the previous sentence
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the Mortgage Rate for each of which
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Payments. The actual lives of the M
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status, repayment ability, debt-to
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There are concentrations of Propert
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and the right of the relevant Borro
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contracts) has to be issued or appr
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No assurance can be given that chan
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introduce alternative penalties for
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unforeseen taxable profits in the I
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company which is a party to an arra
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CREDIT STRUCTURE General The follow
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thereon) other than, following any
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Available Redemption Funds On any P
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(c) the Liquidity Facility is not r
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(d) (e) (f) the aggregate balance o
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(d) fourth, to the C Principal Defi
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In the event that the long-term, un
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the calculation period applicable t
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Assets except to the extent of any
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(B) (C) the special servicing fee d
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(xii) (xiii) (xiv) (xv) (xvi) (xvii
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(vii) (viii) (ix) seventh, pari pas
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credit of the Reserve Ledger to the
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elated rights and powers, and other
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CAPITALISATION STATEMENT The follow
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THE SERVICER Homeloan Management Li
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THE ACCOUNT BANK AND THE GIC PROVID
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THE INTEREST RATE SWAP COUNTERPARTY
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THIRD PARTY INFORMATION The informa
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insurance or endowment policy or ot
Page 89 and 90: Approximately 49.74 per cent. by lo
Page 91 and 92: • Investment properties (resident
Page 93 and 94: • Reference from current landlord
Page 95 and 96: • Properties under 10 years old w
Page 97 and 98: (a) (b) CCJs/Defaults will only be
Page 99 and 100: CHARACTERISTICS OF THE PRELIMINARY
Page 101 and 102: Distribution by Current Loan to Val
Page 103 and 104: Distribution by Property Type Curre
Page 105 and 106: 19. Distribution by Current Margin
Page 107 and 108: Distribution by Discount over Rever
Page 109 and 110: Distribution of Early Redemption Ch
Page 111 and 112: Distribution by Original Loan to Cu
Page 113 and 114: 9. Shared Ownership Status Shared O
Page 115 and 116: 17. Distribution by Arrears Multipl
Page 117 and 118: 24. Distribution by Interest Rate f
Page 119 and 120: Section C: Non-Conforming Mortgage
Page 121 and 122: Distribution by Total Number of Cou
Page 123 and 124: Distribution by Region Current Bala
Page 125 and 126: 20. Distribution by Stabilised Marg
Page 127 and 128: 27. Distribution of Early Redemptio
Page 129 and 130: companies and the Seller (or GMAC-R
Page 131 and 132: 1. Lending Criteria Subject to GMAC
Page 133 and 134: SERVICING AND SPECIAL SERVICING OF
Page 135 and 136: The Servicer is, under the Servicin
Page 137 and 138: (m) (n) (o) (p) (q) (r) (s) (t) (u)
Page 139: (k) (l) (m) (n) the total balance o
Page 143 and 144: Any credit agreement intended to be
Page 145 and 146: Arrears must be dealt with sympathe
Page 147 and 148: (p) (q) (r) (s) interest on the Not
Page 149 and 150: Weighted Average Life of D Notes in
Page 151 and 152: SUMMARY OF PROVISIONS RELATING TO T
Page 153 and 154: TERMS AND CONDITIONS OF THE NOTES T
Page 155 and 156: In accordance with this Condition 2
Page 157 and 158: (g) (h) (i) (j) (k) (l) (m) (n) (o)
Page 159 and 160: (A) (B) (C) (D) (E) other than in r
Page 161 and 162: (xxi) (xxii) twenty-first, to pay a
Page 163 and 164: E = the aggregate Principal Amount
Page 165 and 166: Contract and the Corporate Services
Page 167 and 168: (a) (b) amounts (other than in resp
Page 169 and 170: The Trustee shall not be responsibl
Page 171 and 172: (e) the Rate of Interest for any In
Page 173 and 174: (i) (ii) in the event that the aggr
Page 175 and 176: amount of any Note Principal Paymen
Page 177 and 178: All of the B Noteholders and/or the
Page 179 and 180: Condition 8: Taxation All payments
Page 181 and 182: of such Noteholders of the relevant
Page 183 and 184: authorisation of any breach or prop
Page 185 and 186: No rights are conferred on any thir
Page 187 and 188: TERMS AND CONDITIONS OF THE MERCs T
Page 189 and 190: (i) (ii) (iii) a first fixed charge
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provided by the Cross Currency Swap
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to do so by the holders of at least
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Sunday on which banks are open for
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such MERCs, the alteration of the m
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tax) which would not be suffered we
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TERMS AND CONDITIONS OF THE SUBORDI
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Subordinated Notes scheduled to the
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and/or the Issuer Security Deed tog
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(vii) (viii) (ix) (x) (xi) (xii) (x
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Agreements, the Paying Agents, the
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(xii) (xiii) twelfth, to pay pari p
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In giving any consent to the forego
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LIBOR in effect for the Interest Pe
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(a) Final Redemption of the Subordi
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close of business on the sixth Busi
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indemnified and/or secured to its s
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Trustee will not be responsible for
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(b) Notwithstanding the other provi
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TERMS AND CONDITIONS OF THE R CERTI
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As security for the payment of all
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(B) (C) (D) amounts due and payable
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Mortgage Loans at the end of the pr
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(vii) seventh, to pay pro rata and
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(b) Restrictions on Activities (i)
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(c) Determination and Calculation b
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adjourned meeting, two or more pers
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If Definitive R Certificates are is
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UNITED KINGDOM TAXATION The followi
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EU DIRECTIVE ON THE TAXATION OF SAV
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or other person to which it sells t
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GENERAL INFORMATION 1. The issue of
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GLOSSARY £ .......................
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Cap Provider and Liquidity Facility
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E Principal Deficiency.............
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Interest Only Mortgage Loan........
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Noteholders .......................
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Receiptholders ....................
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Subordinated Noteholders ..........
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ALBA 2007 â 1 plc - Irish Stock Exchange