ALBA 2007 â 1 plc - Irish Stock Exchange

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Revenue Funds..................................................................................................................... 43 Revenue Ledger ................................................................................................................... 52 Revenue Receipts ................................................................................................................. 43 Revenue Shortfalls................................................................................................................ 48 S&P ................................................................................................................................... iii SEC ....................................................................................................................................iv Secured Parties .............................................................................................................13, 150 Securities Act ...................................................................................................................... iii Security .............................................................................................................................. 13 Seller...................................................................................................................................iv Senior Payments................................................................................................................... 50 Servicer ...............................................................................................................................iv Servicer Reporting Date .......................................................................................................129 Share Trustee........................................................................................................................iv small company ..................................................................................................................... 39 Special Servicer ....................................................................................................................iv Special Servicer Agreement......................................................................................................3 Stabilising Manager ..............................................................................................................vii Standby Drawing .................................................................................................................. 49 Standby Drawing Account...................................................................................................... 49 sterling ...............................................................................................................................vii Sterling...............................................................................................................................vii Sterling Interest Determination Rate .......................................................................................164 Sterling Minimum Denomination ...........................................................................................148 Sterling Notes ..................................................................................................................i, 147 Sterling Reserve Interest Rate................................................................................................165 Sterling Screen Rate......................................................................................................164, 209 Structure Diagram ................................................................................................................ 17 Subordinated Interest Residual Amount ...................................................................................210
Subordinated Noteholders .................................................................................................ii, 196 Subordinated Notes ..........................................................................................................ii, 196 Subordinated Notes Conditions ..............................................................................................196 Subscription Agreement ........................................................................................................243 SVR ................................................................................................................................... 81 Swap Agreements ................................................................................................................. 12 Swap Counterparties ...............................................................................................................v Swap Counterparties Information ..............................................................................................v Swap Transactions ................................................................................................................ 16 Talons ...............................................................................................................................148 TARGET Business Day.................................................................................. 163, 190, 208, 234 Temporary Global Note......................................................................................................... iii Title Insurance ..................................................................................................................... 92 Tracker Rate Mortgage Loans ................................................................................................ 82 Transaction Documents .............................................................................13, 151, 184, 199, 224 Transfer Agent ...........................................................................................v, 147, 182, 196, 222 Treaty................................................................................................................................181 Trust Deed ................................................................................................2, 147, 182, 196, 222 Trustee ....................................................................................................iv, 147, 182, 196, 222 UTCCR .............................................................................................................................. 33 WAFF ...............................................................................................................................132 WALS...............................................................................................................................132 Warranties........................................................................................................................... 24
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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
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Approximately 49.74 per cent. by lo
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• Investment properties (resident
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• Reference from current landlord
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• Properties under 10 years old w
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(a) (b) CCJs/Defaults will only be
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CHARACTERISTICS OF THE PRELIMINARY
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Distribution by Current Loan to Val
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Distribution by Property Type Curre
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19. Distribution by Current Margin
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Distribution by Discount over Rever
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Distribution of Early Redemption Ch
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Distribution by Original Loan to Cu
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9. Shared Ownership Status Shared O
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17. Distribution by Arrears Multipl
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24. Distribution by Interest Rate f
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Section C: Non-Conforming Mortgage
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Distribution by Total Number of Cou
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Distribution by Region Current Bala
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20. Distribution by Stabilised Marg
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27. Distribution of Early Redemptio
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companies and the Seller (or GMAC-R
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1. Lending Criteria Subject to GMAC
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SERVICING AND SPECIAL SERVICING OF
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The Servicer is, under the Servicin
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(m) (n) (o) (p) (q) (r) (s) (t) (u)
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(k) (l) (m) (n) the total balance o
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(o) (p) (q) the balance of the Port
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Any credit agreement intended to be
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Arrears must be dealt with sympathe
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(p) (q) (r) (s) interest on the Not
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Weighted Average Life of D Notes in
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SUMMARY OF PROVISIONS RELATING TO T
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TERMS AND CONDITIONS OF THE NOTES T
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In accordance with this Condition 2
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(g) (h) (i) (j) (k) (l) (m) (n) (o)
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(A) (B) (C) (D) (E) other than in r
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(xxi) (xxii) twenty-first, to pay a
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E = the aggregate Principal Amount
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Contract and the Corporate Services
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(a) (b) amounts (other than in resp
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The Trustee shall not be responsibl
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(e) the Rate of Interest for any In
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(i) (ii) in the event that the aggr
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amount of any Note Principal Paymen
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All of the B Noteholders and/or the
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Condition 8: Taxation All payments
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of such Noteholders of the relevant
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authorisation of any breach or prop
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No rights are conferred on any thir
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TERMS AND CONDITIONS OF THE MERCs T
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(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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Page 217 and 218: (a) Final Redemption of the Subordi
Page 219 and 220: close of business on the sixth Busi
Page 221 and 222: indemnified and/or secured to its s
Page 223 and 224: Trustee will not be responsible for
Page 225 and 226: (b) Notwithstanding the other provi
Page 227 and 228: TERMS AND CONDITIONS OF THE R CERTI
Page 229 and 230: As security for the payment of all
Page 231 and 232: (B) (C) (D) amounts due and payable
Page 233 and 234: Mortgage Loans at the end of the pr
Page 235 and 236: (vii) seventh, to pay pro rata and
Page 237 and 238: (b) Restrictions on Activities (i)
Page 239 and 240: (c) Determination and Calculation b
Page 241 and 242: adjourned meeting, two or more pers
Page 243 and 244: If Definitive R Certificates are is
Page 245 and 246: UNITED KINGDOM TAXATION The followi
Page 247 and 248: EU DIRECTIVE ON THE TAXATION OF SAV
Page 249 and 250: or other person to which it sells t
Page 251 and 252: GENERAL INFORMATION 1. The issue of
Page 253 and 254: GLOSSARY £ .......................
Page 255 and 256: Cap Provider and Liquidity Facility
Page 257 and 258: E Principal Deficiency.............
Page 259 and 260: Interest Only Mortgage Loan........
Page 261 and 262: Noteholders .......................
Page 263: Receiptholders ....................
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ALBA 2007 â 1 plc - Irish Stock Exchange