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

Termination Amount. The payment of this amount may impact adversely on the holders of the Class N Notes
due to the leveraged nature of the Class N Notes.
Initial Purchaser. The Initial Purchaser or any of its Affiliate (or one or more accounts or conduits
managed by the Initial Purchaser or its Affiliates) may hold Notes of any Class from time to time subject to the
restrictions contained in the same. Affiliates of the Initial Purchaser or the Initial Purchaser may also be a Class
A1A Noteholder and the Liquidity Facility Provider.
One or more of the Initial Purchaser and its Affiliates may also act as counterparty with respect to one or
more Synthetic Securities, Hedge Agreement or Participations.
Certain of the Collateral Debt Securities in the Portfolio may consist of obligations of obligors or issuers for
which the Initial Purchaser or an Affiliate of the Initial Purchaser has acted as underwriter, agent, placement
agent or dealer or for which an Affiliate of the Initial Purchaser has acted as lender or provided other
commercial or investment banking services. The Issuer may purchase some of the Collateral Debt Securities
from the Initial Purchaser and its Affiliates, but only to the extent the Collateral Manager determines that such
purchases are consistent with the investment guidelines and objectives of the Issuer and the restrictions
contained in the Collateral Management Agreement. In any event, all purchases of Collateral Debt Securities in
the Portfolio from such entities are required to be on an arms’ length basis.
The Initial Purchaser and its Affiliates are actively engaged in transactions in the same securities or loans in
which the Issuer may invest. Such transactions may be different from those made on behalf of the Issuer.
Subject to applicable law, the Initial Purchaser and its Affiliates may purchase or sell the securities of, or
otherwise invest in or finance or provide investment banking, advisory and other services to companies, in
which the Issuer has an interest. The Initial Purchaser and its Affiliates may also have proprietary interests in,
and may manage or advise other accounts or investment funds that have investment objectives similar or
dissimilar to those of the Issuer and/or which engage in transactions in, the same types of securities as the Issuer.
As a result, the Initial Purchaser and its Affiliates may possess information relating to obligors on or issuers of
Collateral Debt Securities which is not known to the Collateral Manager. None of the Initial Purchaser nor its
Affiliates is under any obligation to share any investment opportunity, idea or strategy with the Collateral
Manager or the Issuer. As a result, the Initial Purchaser and its Affiliates may compete with the Issuer for
appropriate investment opportunities and is under no duty or obligation to share such investment opportunities
with the Issuer.
The Issuer may also invest in the securities of companies affiliated with the Initial Purchaser or in which the
Initial Purchaser has an equity or participation interest. The purchase, holding and sale of such investments by
the Issuer may enhance the profitability of the Initial Purchaser’s own investments in such companies.
Projections, Forecasts and Estimates
Any projections, forecasts and estimates contained herein are forward looking statements and are based
upon certain assumptions that the Collateral Manager considers reasonable. Projections are necessarily
speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will
not materialise or will vary significantly from actual results. Accordingly, the projections are only an estimate.
Actual results are likely to vary from the projections, and the variations may be material.
Some important factors that could cause actual results to differ materially from those in any forward
looking statements include changes in interest rates, currency exchange rate, market, financial or legal
uncertainties, the timing of acquisitions of Collateral Debt Securities in the Portfolio, differences in the actual
allocation of the Collateral Debt Securities among asset categories from those assumed, the timing of
acquisitions of the Collateral Debt Securities, mismatches between the timing of accrual and receipt of Interest
Proceeds and Principal Proceeds from the Collateral Debt Securities in the Portfolio (particularly during the
Ramp-Up Period), defaults under Collateral Debt Securities in the Portfolio and the effectiveness of the Hedge
Agreements, among others. Consequently, the inclusion of projections herein should not be regarded as a
representation by the Issuer, the Collateral Manager, the Trustee, the Initial Purchaser or any of their respective
Affiliates or any other person or entity of the results that will actually be achieved by the Issuer.
None of the Issuer, the Collateral Manager, the Trustee, the Initial Purchaser, any of their respective
Affiliates or any other person has any obligation to update or otherwise revise any projections, including any
revisions to reflect changes in economic conditions or other circumstances arising after the date hereof or to
reflect the occurrence of unanticipated events, even if the underlying assumptions do not come to fruition.
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