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

“Special Debt Security” means (i) a Senior Unsecured Loan or Subordinated Unsecured Loan; and (ii) any
other obligation or security (not being a Dutch Ineligible Security) for which the Issuer has obtained Rating
Agency Confirmation, including in each case, a Synthetic Security whose Reference Obligation is a senior
or subordinated unsecured loan obligation similar to the foregoing other than:
(a) a Bank Loan;
(b) a Mezzanine Loan;
(c) a Second Lien Loan; and
(d) a CLO Security.
“Spot Rate” means with respect to any conversion of Sterling into Euro or, as the case may be, of Euro into
Sterling, the relevant spot rate of exchange quoted by the Collateral Administrator on the date of
calculation.
“Stand-by Account” means each of the account(s) so named of the Issuer as may be established with the
Account Bank from time to time for each Class A1A Noteholder who does not meet the Rating
Requirement pursuant to the terms of the Class A1A Note Purchase Agreement.
“Stand-by Liquidity Account” means each of (a) the interest bearing account denominated in Euro so
named of the Issuer to be established with the Account Bank pursuant to the terms of the Liquidity Facility
Agreement and (b) the interest bearing account denominated in Sterling which may be established in the
name of the Issuer held with the Account Bank pursuant to the terms of the Liquidity Facility Agreement.
“S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. and any successor or
successors thereto.
“S&P Rating” has the meaning given to it in the Collateral Administration Agreement.
“Stated Maturity” means, with respect to any Collateral Debt Security or Note, the date specified in such
obligation as the fixed date on which the final payment or repayment of principal of such obligation is due
and payable or, if such date is not a Business Day, the next following Business Day.
“Sterling Accounts” means the Sterling Interest Account, the Sterling Principal Account, the Sterling
Additional Collateral Account, the Sterling Payment Account, the Sterling Liquidity Payment Account and
the Sterling Expense Account.
“Sterling Additional Collateral Account” means the Sterling account so named of the Issuer held with the
Account Bank, amounts standing to the credit of which, subject to certain conditions, may be used to
purchase Additional Collateral Debt Securities during the Reinvestment Period.
“Sterling Collateral Debt Security” means a Collateral Debt Security denominated in Sterling and for the
avoidance of doubt, “Sterling Collateral Debt Security” does not include a Non-Euro Collateral Debt
Security which is denominated in Sterling.
“Sterling Drawings” has the meaning ascribed thereto in the Class A1A Note Purchase Agreement.
“Sterling Expense Account” means the Sterling account so named of the Issuer held with the Account
Bank, amounts standing to the credit of which may be used to fund certain expenses arising between
Payment Dates.
“Sterling Funding Mismatch” means on any Determination Date or any other date of calculation, the
greater of (a) zero; and (b) the aggregate principal amount outstanding of any Sterling Drawings on such
Determination Date less the sum of (i) the aggregate Principal Balance of all Sterling Collateral Debt
Securities on such Determination Date and (ii) the Sterling Principal Proceeds (excluding any amounts paid
by the Initial Hedge Counterparty to the Issuer pursuant to the Initial Hedge Agreement) standing to the
credit of the Sterling Principal Account on such Determination Date.
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