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

including for the avoidance of doubt, any interest in respect of a PIK Security which
pursuant to its terms has been deferred and/or capitalised;
plus
(c) the scheduled interest payments due (in each case regardless of whether the applicable Due Date has
yet occurred) (determined assuming that LIBOR (or such other rate basis applicable to the relevant
Collateral Debt Security, Participation, Account or Eligible Investment denominated in Sterling)
remains constant throughout such period) and as required, converted into Euro at the Spot Rate in the
Due Period in which such Measurement Date occurs on:
(i)
(ii)
(iii)
(iv)
the Sterling Collateral Debt Securities and any Sterling denominated Participations excluding
(A) accrued and unpaid interest on Sterling denominated Non-Performing Securities and (B)
interest on any Sterling Collateral Debt Security or Sterling denominated Participation to the
extent that such Sterling Collateral Debt Security or Sterling denominated Participation does
not provide for the scheduled payment of interest in cash, and (C) any amounts in Sterling
expected to be withheld at source or otherwise deducted in respect of taxes;
the Sterling Accounts;
Eligible Investments denominated in Sterling; and
Sterling denominated Securities Lending Collateral after the occurrence of an event of default
under the related Securities Lending Agreement;
but excluding:
(A)
(B)
(C)
(D)
(E)
any scheduled interest payments described in paragraphs (i), (ii) or (iii) above as to
which the Issuer or the Collateral Manager has actual knowledge that such payment
will not be made;
any scheduled interest payments described in paragraph (iv) above in respect of a
loaned Sterling Collateral Debt Security as to which an event of default under the
related Securities Lending Agreement has occurred and is continuing;
accrued and unpaid interest on Defaulted Securities denominated in Sterling;
interest accrued on any Sterling Collateral Debt Securities or Sterling denominated
Participations to the date of acquisition thereof by the Issuer and purchased with
Sterling Principal Proceeds or with amounts drawn under the Class A1A Note
Purchase Agreement including for the avoidance of doubt, the amounts referred to in
paragraphs (b) and (h) of the definition of Sterling Principal Proceeds; and
in the case of PIK Securities denominated in Sterling, the amount of any payments
that the Issuer or the Collateral Manager has actual knowledge will not be made in
cash, including for the avoidance of doubt, any interest in respect of a PIK Security
which pursuant to its terms has been deferred and/or capitalised;
minus
(d) the amounts payable pursuant to Condition 3(c)(i)(A) to (E) (inclusive) on the following Payment Date;
(e) the amounts scheduled to be paid by the Issuer to a Hedge Counterparty under the Hedge Transactions
(other than pursuant to an Asset Swap Transaction) on or before the following Payment Date (other
than any Hedge Termination Payment), if any;
(f)
the amounts scheduled to be paid by the Issuer to a Hedge Counterparty under any Asset Swap
Transactions on or before the following Payment Date (other than any Hedge Termination Payment)
which corresponds to those amounts described in paragraph (b) of this definition received by the Issuer
pursuant to a Non-Euro Collateral Debt Security; and
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