ALBA 2007 – 1 plc - Irish Stock Exchange

(xii)
(xiii)
(xiv)
(xv)
(xvi)
(xvii)
twelfth, to pay amounts (other than in respect of principal) payable in respect of the D Notes
(such amounts to be paid pro rata according to the respective interest entitlements of the D
Noteholders);
thirteenth, to pay amounts to be credited to the D Principal Deficiency Sub-Ledger (such
amounts to be applied in redemption of the D Notes in accordance with Condition 5) until the
balance of the D Principal Deficiency Sub-Ledger has reached zero;
fourteenth, to pay amounts (other than in respect of principal) payable in respect of the E Notes
(such amounts to be paid pro rata according to the respective interest entitlements of the E
Noteholders);
fifteenth, to pay amounts to be credited to the E Principal Deficiency Sub-Ledger (such amounts
to be applied in redemption of the E Notes in accordance with Condition 5) until the balance of
the E Principal Deficiency Sub-Ledger has reached zero;
sixteenth, to pay amounts (other than in respect of principal) payable in respect of the F Notes
(such amounts to be paid pro rata according to the respective interest entitlements of the F
Noteholders);
seventeenth, to pay amounts to be credited to the F Principal Deficiency Sub-Ledger (such
amounts to be applied in redemption of the F Notes in accordance with Condition 5) until the
balance of the F Principal Deficiency Sub-Ledger has reached zero;
(xviii) eighteenth, to credit the Reserve Ledger, until the balance of the Reserve Fund equals the
Reserve Fund Required Amount;
(xix)
(xx)
nineteenth, to retain in the Issuer Transaction Account as the Issuer's profit, an amount equal to
one quarter of 0.01 per cent. of the product of the weighted average Mortgage Rate of the
Mortgage Loans at the end of the preceding Collection Period and the aggregate principal
balance outstanding of the Mortgage Loans at the end of the preceding Collection Period;
twentieth, in or towards pari passu and pro rata payment of:
(A)
(B)
(C)
any Interest Rate Swap Counterparty Default Payment payable to the Interest Rate
Swap Counterparty under the terms of the Interest Rate Swap Agreement to the extent
not satisfied from any collateral provided by the Interest Rate Swap Counterparty
together with any amounts received by the Issuer from a replacement interest rate
swap counterparty in respect of replacement interest rate swap transactions;
any Cross Currency Swap Counterparty Default Payment payable to the Cross
Currency Swap Counterparty under the terms of the Cross Currency Swap Agreement
to the extent not satisfied from any collateral provided by the Cross Currency Swap
Counterparty together with any amounts received by the Issuer from a replacement
cross currency swap counterparty in respect of a replacement cross currency swap
transaction; and
any Cap Provider Default Payment payable to the Cap Provider under the terms of the
Interest Rate Cap Agreement to the extent not satisfied from any collateral provided
by the Cap Provider together with any amounts received by the Issuer from a
replacement cap provider in respect of replacement cap transactions;