ALBA 2007 – 1 plc - Irish Stock Exchange

(B)
(C)
the special servicing fee due and payable to the Special Servicer (plus value added tax,
if any) during the Calculation Period immediately prior to the relevant Calculation
Date; and
amounts due to the Paying Agents, the Agent Bank, the Transfer Agent and the
Registrar under the Paying Agency Agreement, the GIC Provider under the
Guaranteed Investment Contract, the Corporate Services Provider and the Share
Trustee under the Corporate Services Agreement and the Account Bank, the Cash
Manager and the Master Servicer (inclusive of value added tax, if any) under the Cash
Management, Master Servicing and Account Bank Agreement;
(iv)
(v)
fourth, in or towards payment of interest, principal and any other amounts due and payable to
the Liquidity Facility Provider in accordance with the Liquidity Facility Agreement;
fifth, to pay pari passu and pro rata:
(A)
(B)
(C)
(D)
amounts due and payable to the Interest Rate Swap Counterparty including (a)
scheduled payments due under the Interest Rate Swap Agreement and (b) any
termination pa yment due under the terms of the Interest Rate Swap Agreement to the
extent not satisfied from any collateral provided by the Interest Rate Swap
Counterparty and any amounts received by the Issuer from a replacement interest rate
swap counterparty in respect of replacement interest rate swap transactions (except for
any relevant Interest Rate Swap Counterparty Default Payment where "Interest Rate
Swap Counterparty Default Payment" means any termination payment due or
payable under the Interest Rate Swap Agreement as a result of the occurrence of an
Event of Default where the Interest Rate Swap Counterparty is the Defaulting Party or
an Additional Termination Event relating to the downgrade or withdrawal of the credit
rating of the Interest Rate Swap Counterparty (as such terms are defined in the Interest
Rate Swap Agreement));
amounts due and payable to the Cap Provider including (a) scheduled payments due
under the Interest Rate Cap Agreement and (b) any termination payment due under the
terms of the Interest Rate Cap Agreement to the extent not satisfied from any
collateral provided by the Cap Provider and any amounts received by the Issuer from
a replacement cap provider in respect of a replacement cap transaction (except for any
Cap Provider Default Payment where "Cap Provider Default Payment" means any
termination payment due or payable under the Interest Rate Cap Agreement as a result
of the occurrence of an Event of Default where the Cap Provider is the Defaulting
Party or an Additional Termination Event relating to the downgrade or withdrawal of
the credit rating of the Cap Provider (as such terms are defined in the Interest Rate
Cap Agreement));
amounts due and payable to a replacement interest rate swap counterparty to the extent
not satisfied from any collateral provided by the Interest Rate Swap Counterparty
together with the termination payment (if any) made by the Interest Rate Swap
Counterparty; and
amounts due and payable to a replacement cap provider to the extent not satisfied from
any collateral provided by the Cap Provider together with the termination payment (if
any) made by the Cap Provider;
(vi)
sixth, to pay amounts pari passu and pro rata: