Gresham Capital CLO IV B.V. - Irish Stock Exchange

5. Covenants of the Issuer
The Trust Deed contains, inter alia, representations, warranties and covenants in favour of the Trustee
which, inter alia, require the Issuer to comply with its obligations under the Transaction Documents and
restrict the ability of the Issuer to create or incur any indebtedness (other than that permitted under the Trust
Deed), to dispose of assets, to change the nature of its business or to take or fail to take any action which
may adversely affect the priority or enforceability of the security interest in the Collateral.
6. Interest
(a) Payment Dates:
(i) Rated Notes: Each Class of Rated Notes (other than the Class A1A Notes and the Class A1B
Refinancing Notes) bear interest from the Issue Date. Subject to Condition 6(c) (Deferral of
Interest), such interest will be payable semi-annually in arrear on each Payment Date.
(ii) Class N Notes: Interest shall be payable in respect of the Class N Notes on an available funds
basis in accordance with Condition 3(c)(i) (Priorities of Payment—Application of Interest
Proceeds on Payment Dates) and Condition 3(c)(iii) (Priorities of Payment—Application of
Principal Proceeds on Payment Dates) on each Payment Date, and shall continue to be so payable
in accordance with this Condition 6 (Interest) notwithstanding redemption in full of any Class N
Note at its applicable Redemption Price.
(iii) Class A1B Refinancing Notes: The Class A1B Refinancing Notes, if any, will bear interest from
their issue date at the same rate as the Class A1B Notes and such interest will be payable semiannually
in arrear on each Payment Date.
(iv) Class A1A Notes: Drawings in respect of the Class A1A Notes will bear interest from (and
including) the date of such Drawing. Such interest will be payable semi-annually in arrear on each
Payment Date or, if earlier, the date such Drawing is repaid. The Commitment Fee shall accrue
from the Issue Date and shall be payable semi-annually in arrear on each Payment Date on the
basis set out in Condition 6(j) (Class A1A Notes Commitment Fee) below.
(b) Interest Accrual:
(i) Rated Notes: Each Class of Rated Notes (other than the Class A1A Notes) will cease to bear
interest from the due date for redemption unless, upon due presentation, payment of principal is
improperly withheld or refused. In such event, it shall continue to bear interest in accordance with
this Condition 6 (Interest) (both before and after judgment) until whichever is the earlier of (i) the
day on which all sums due in respect of such Note up to that day are received by or on behalf of
the relevant Noteholder and (ii) the day seven days after the Trustee or the Registrar has notified
the Noteholders of such Class of Notes in accordance with Condition 16 (Notices) of receipt of all
sums due in respect of all the Notes of such Class up to and including that seventh day (except to
the extent that there is failure in the subsequent payment to the relevant holders under these
Conditions).
(ii) Class N Notes: Interest will cease to be payable on the Class N Notes upon the date that all of the
Collateral held for the benefit of such Noteholders has been realised and no Interest Proceeds or
Principal Proceeds remain available for distribution in accordance with the Priorities of Payment
and no sums remain standing to the credit of the Collateral Enhancement Account.
(iii) Interest on the Class A1A Notes: Any Class A1A Notes will cease to bear interest in accordance
with the provisions of the Class A1A Note Purchase Agreement.
(c) Deferral of Interest:
(i) For so long as any of the Senior Notes remain Outstanding, the Issuer shall only be obliged to pay
any Interest Amount payable in respect of the Class B Notes in full on any Payment Date to the
extent that there are Interest Proceeds or Principal Proceeds available for payment thereof in
accordance with the Priorities of Payment. An amount of interest equal to any shortfall in payment
of the Interest Amount that would otherwise be due and payable in respect of any such Class B
Note on any Payment Date (each such amount being referred to as “Class B Deferred Interest”)
111