ALBA 2007 – 1 plc - Irish Stock Exchange

(B)
(C)
(D)
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:
(A)
(B)
(C)
(D)
(E)
other than in respect of principal, due and payable in respect of the A1a Notes (such
amounts to be paid pro rata and according to the respective interest entitlements of the
Ala Noteholders);
other than in respect of principal, due and payable in respect of the A2 Notes (such
amounts to be paid pro rata and according to the respective interest entitlements of the
A2 Noteholders);
other than in respect of principal, due and payable in respect of the A3 Notes (such
amounts to be paid pro rata and according to the respective interest entitlements of the
A3 Noteholders);
due and payable (including any fees) to the Cross Currency Swap Counterparty in
respect of the A1b Euro Swap Transaction including termination payments to the
extent not satisfied from any collateral provided by the Cross Currency Swap
Counterparty and any premium received from a replacement cross currency swap
provider (other than amounts in respect of payments of principal and the return of
collateral (and income thereon) and except for any relevant Cross Currency Swap
Counterparty Default Payment where "Cross Currency Swap Counterparty Default
Payment" means any termination payment due or payable under the Cross Currency
Swap Agreement as a result of the occurrence of an Event of Default where the Cross
Currency Swap Counterparty is the Defaulting Party or an Additional Termination
Event relating to the downgrade or withdrawal of the credit rating of the Cross
Currency Swap Counterparty (as such terms are defined in the Cross Currency Swap
Agreement)); and
other than in respect of principal, due and payable on the A1b Notes (if any) after
applying such amounts received under the A1b Swap Transaction (such amounts to be