Gresham Capital CLO IV B.V. - Irish Stock Exchange
Gresham Capital CLO IV B.V. - Irish Stock Exchange
Gresham Capital CLO IV B.V. - Irish Stock Exchange
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shall be deferred and shall, with effect from and including such Payment Date, be added to the<br />
principal amount outstanding of the Class B Notes and the principal amount of each such Note<br />
shall be increased by the amount of its pro rata share of such Class B Deferred Interest, which<br />
shall itself bear interest in accordance with these Conditions from such date.<br />
(ii) For so long as any of the Senior Notes or Class B Notes remain Outstanding, the Issuer shall only<br />
be obliged to pay any Interest Amount payable in respect of the Class C Notes in full on any<br />
Payment Date to the extent that there are Interest Proceeds or Principal Proceeds available for<br />
payment thereof in accordance with the Priorities of Payment. An amount of interest equal to any<br />
shortfall in payment of the Interest Amount that would otherwise be due and payable in respect of<br />
any such Class C Note on any Payment Date (each such amount being referred to as “Class C<br />
Deferred Interest”) shall be deferred and shall, with effect from and including such Payment<br />
Date, be added to the principal amount outstanding of the Class C Notes and the principal amount<br />
of each such Note shall be increased by the amount of its pro rata share of such Class C Deferred<br />
Interest, which shall itself bear interest in accordance with these Conditions from such date.<br />
(iii) For so long as any of the Senior Notes, Class B Notes or Class C Notes remains Outstanding, the<br />
Issuer shall only be obliged to pay any Interest Amount payable in respect of the Class D Notes in<br />
full on any Payment Date to the extent that there are Interest Proceeds or Principal Proceeds<br />
available for payment thereof in accordance with the Priorities of Payment. An amount of interest<br />
equal to any shortfall in payment of the Interest Amount that would otherwise be due and payable<br />
in respect of any such Class D Note on any Payment Date (each such amount being referred to as<br />
“Class D Deferred Interest”) shall be deferred and shall, with effect from and including such<br />
Payment Date, be added to the principal amount outstanding of the Class D Notes and the principal<br />
amount of each such Note shall be increased by the amount of its pro rata share of such Class D<br />
Deferred Interest, which shall itself bear interest in accordance with these Conditions from such<br />
date.<br />
(iv) For so long as any of the Senior Notes, Class B Notes, Class C Notes or Class D Notes remains<br />
Outstanding, the Issuer shall only be obliged to pay any Interest Amount payable in respect of the<br />
Class E Notes in full on any Payment Date to the extent that there are Interest Proceeds or<br />
Principal Proceeds available for payment thereof in accordance with the Priorities of Payment. An<br />
amount of interest equal to any shortfall in payment of the Interest Amount that would otherwise<br />
be due and payable in respect of any such Class E Note on any Payment Date (each such amount<br />
being referred to as “Class E Deferred Interest” and together with Class B Deferred Interest,<br />
Class C Deferred Interest and Class D Deferred Interest, “Deferred Interest”) shall be deferred<br />
and shall, with effect from and including such Payment Date, be added to the principal amount<br />
outstanding of the Class E Notes and the principal amount of each such Note shall be increased by<br />
the amount of its pro rata share of such Class E Deferred Interest, which shall itself bear interest in<br />
accordance with these Conditions from such date.<br />
(d) Payment of Deferred Interest:<br />
Deferred Interest shall only become payable by the Issuer in accordance with Condition 3(c) (Priorities<br />
of Payment) to the extent that Interest Proceeds or Principal Proceeds are available to make such<br />
payment in accordance with the Priorities of Payment.<br />
(e) Interest on Class A1B Notes, Class A2 Notes, Class B Notes, Class C Notes, Class D Notes and Class E<br />
Notes:<br />
(i) Rate of Interest: Save as provided in paragraph (iii) below, the rate of interest from time to time in<br />
respect of the Class A1B Notes (the “Class A1B Note Interest Rate”), the Class A2 Notes (the<br />
“Class A2 Note Interest Rate”), the Class B Notes (the “Class B Note Interest Rate”), the Class<br />
C Notes (the “Class C Note Interest Rate”), the Class D Notes (the “Class D Note Interest<br />
Rate”) and the Class E Notes (the “Class E Note Interest Rate”) will each be determined by the<br />
Principal Paying Agent on the following basis.<br />
(A)<br />
On the second TARGET Business Day before the beginning of each Interest Accrual<br />
Period or, in the case of the first Interest Accrual Period, the Issue Date (each an<br />
“Interest Determination Date”) the Principal Paying Agent will determine the<br />
Applicable EURIBOR for Euro deposits as at 11.00 am (Brussels time) on the Interest<br />
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