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

(ii)
if any Collateral Debt Security falls within the definition of both a “Discount Collateral Debt
Security” and a “Current Pay Obligation”, such Collateral Debt Security shall be classified
as a Current Pay Obligation unless the Collateral Manager in its reasonable business
judgement (which shall not be called into question as a result of subsequent events)
determines otherwise.
“Distribution” means any payment of principal or interest or any dividend or premium or other amount or
asset paid or delivered on or in respect of any Collateral Debt Security, any Eligible Investment, any
Collateral Enhancement Security or any Defaulted Equity Security.
“Drawing” means the principal amount of each advance made, from time to time, by the Class A1A
Noteholders pursuant to the Class A1A Note Purchase Agreement to the Issuer which amount will not be
less than the relevant Minimum Denomination or (as the context requires) the principal amount thereof for
the time being outstanding.
“Due Date” means each date on which a Distribution is due and payable.
“Due Period” means, with respect to any Payment Date, the period commencing on the day immediately
following the eighth Business Day prior to the preceding Payment Date (or on the Issue Date in the case of
the Due Period relating to the first Payment Date) and ending on the eighth Business Day prior to such
Payment Date (or, in the case of the Due Period applicable to the Maturity Date or a Redemption Date,
ending on the day preceding such Payment Date).
“Dutch Ineligible Securities” means any and all:
(a) securities or interests in securities which are bearer instruments (effecten aan toonder) physically
located in The Netherlands or registered shares (aandelen op naam) in a Netherlands corporate entity
where the Issuer owns such bearer instruments or registered shares directly and in its own name; or
(b) securities or interests in securities the purchase or acquisition of which by or on behalf of the Issuer
would cause the breach of applicable selling or transfer restrictions or of applicable Dutch laws relating
to the offering of securities or of collective investment schemes; or
(c) obligations or instruments which are convertible into or exchangeable for the securities referred to in
(a) above.
“Eastern Europe” means countries in Europe other than Austria, Belgium, Denmark, Finland, France,
Germany, Republic of Ireland, Italy, Luxembourg, Liechtenstein, The Netherlands, Norway, Portugal,
Spain, Sweden, Switzerland, the United Kingdom (including the Channel Islands and the Isle of Man) and
any other EU Member State rated “A-” or above by Fitch and “AA” or above by S&P as at the Issue Date
and otherwise subject to Rating Agency Confirmation.
“Eligibility Criteria” has the meaning given thereto in the Collateral Management Agreement.
“Eligible Floating Rate Note” means a Senior Secured Loan documented in note form and for which
Rating Agency Confirmation has been given to the Collateral Manager that such Senior Secured Loan may
be treated as a Senior Secured Loan.
“Eligible Investments” means:
(a) government securities of any government which is rated “AAA” and “AAA” or “F1+” and “A-1+” by
Fitch and S&P respectively; and
(b) demand or time deposits, certificates of deposit and short term debt obligations (including commercial
paper);
provided that in all cases such investments (x) are not Dutch Ineligible Securities and (y) have a maturity
date of no later than the last Business Day of the Due Period following the date of acquisition of such
investment and the short term unsecured, unguaranteed and unsubordinated debt obligations of the issuing
or guaranteeing entity or the entity with which the demand or time deposits are made (being a licensed EU
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