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

“Relevant Amount” in respect of a PIK Security is that amount of interest which has been deferred,
capitalised or paid by the issuance of a further obligation, and which is repaid or otherwise realised and
shall be determined as follows:
(a) where interest is paid by issuance of a further obligation, the Relevant Amount shall be the amount
realised by the Issuer on sale, redemption or repayment of such further obligation;
(b) where interest is deferred or capitalised, the Relevant Amount shall be the amount:
(i)
(ii)
(iii)
in the case of redemption or repayment of the relevant PIK Security, of the deferred or
capitalised interest less any amount by which the amount received on redemption or
repayment is less than the Principal Balance of such PIK Security and accrued interest for the
last interest period to the date of redemption or repayment; or
in the case of any other realisation of the relevant PIK Security, of the deferred or capitalised
interest less the amount by which the amount received in respect of such realisation is less
than the Principal Balance of such PIK Security and accrued interest for the period to the date
of realisation; or
in the case such deferred or capitalised interest is paid by the obligor (or any guarantor
thereof) other than on redemption or repayment, the amount of such deferred or capitalised
interest received by the Issuer.
If interest accrues on any deferred or capitalised interest or on any further obligation issued in payment of
interest, such accrued interest which is paid to the Issuer shall be treated as a Relevant Amount in respect of
such PIK Security.
“Relevant Date” means whichever is the later of (a) the date on which any payment first becomes due and
(b) if the full amount payable has not been received by the Registrar or the Trustee on or prior to such due
date, the date on which the full amount having been so received, notice to that effect shall have been given
to the Noteholders in accordance with Condition 16 (Notices).
“repay” shall include redeem and vice versa and repaid, repayable, repayment, redeemed, redeemable and
redemption shall be construed accordingly.
“Repayment Date” means, the earlier of the (a) the Maturity Date for the Class A Notes; and (b) the
Redemption Date for the Class A Notes.
“Replacement Collateral Manager” means the person appointed pursuant to the Collateral Management
Agreement to replace the Collateral Manager.
“Replacement Collateral Manager Subordinated Fee” means the sum of (i) the subordinated fee payable
to a Replacement Collateral Manager on each Payment Date pursuant to the Collateral Management
Agreement equal to such percentage per annum as agreed when such Replacement Collateral Manager is
appointed of the daily weighted average aggregate of the Principal Balances of the Collateral Debt
Securities during the Due Period ending immediately preceding such Payment Date and (ii) any value
added tax in respect thereof (whether payable to the Replacement Collateral Manager or directly to the
relevant taxing authority).
“Replacement Hedge Agreement” means any Hedge Agreement entered into by the Issuer upon
termination of an existing Hedge Agreement on substantially the same terms as the original Hedge
Agreement (including with respect to any Hedge Transactions entered into thereunder).
“Rule 144A” means Rule 144A under the Securities Act.
“Rule 144A Definitive Notes” means the Class A1A Rule 144A Definitive Notes, the Class A1B Rule
144A Definitive Notes, the Class A2 Rule 144A Definitive Notes, the Class B Rule 144A Definitive Notes,
the Class C Rule 144A Definitive Notes, the Class D Rule 144A Definitive Notes, the Class E Rule 144A
Definitive Notes and the Class N Rule 144A Definitive Notes or (as the context may require) any of them.
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