Attentus CDO I Offering Circular - Irish Stock Exchange

to be equal to 50% of the outstanding principal amount of such Collateral Debt Security;
provided, however, that with respect to the calculation of the Class D Overcollateralization Ratio,
such amount shall be deemed to be equal to 100%; provided, further, that if both clause (e) above
and this clause (f) shall apply simultaneously, only this clause (f) shall be deemed to apply;
(g) the Principal Balance of any Pledged Securities in which the Trustee shall not
have a perfected security interest shall be deemed to be zero; and
(h) the Principal Balance of a Synthetic Security (a) as to which a credit event has
not occurred thereunder shall be the notional amount or the outstanding principal amount, as the
case may be, specified in such Synthetic Security and (b) as to which a credit event has occurred
thereunder, for purposes of calculating (A) the Collateral Quality Tests, shall be zero; and (B) the
amounts payable to the Trustee and the Collateral Manager, shall be the notional amount or the
outstanding principal amount specified in such Synthetic Security.
“Principal Proceeds” means, with respect to any Due Period, the sum (without duplication) of:
(i) all principal payments (including amortization payments and prepayments) received during the related
Due Period on the Pledged Securities (excluding Eligible Investments purchased with Interest Proceeds or
funds on deposit in the Discretionary Interest Shortfall Reserve Account and excluding Uninvested
Proceeds), (ii) all funds received (including interest payments, but excluding for purposes of this clause
(ii), Sale Proceeds), up to the par amount thereof, on Defaulted Securities, (iii) all Sale Proceeds;
provided, that Principal Proceeds shall exclude (a) Sale Proceeds of any sale of any Defaulted Security to
the extent such Sale Proceeds are in excess of the par amount thereof and (b) Sale Proceeds of any
Pledged Security to the extent such Sale Proceeds were received as consideration for accrued interest on
such Pledged Security; provided, further that, notwithstanding the immediately preceding proviso,
Principal Proceeds shall include Sale Proceeds of any Defaulted Security to the extent such Sale Proceeds
were received as consideration for accrued interest on such Defaulted Security, (iv) any proceeds
resulting from the termination and liquidation of any Hedge Agreement received during such Due Period,
to the extent such proceeds exceed the cost of entering into one or more replacement Hedge Agreements
in accordance with the requirements set forth in the Indenture, in the event one or more replacement
Hedge Agreements is entered into, (v) any amounts received in respect of accrued interest on Additional
Collateral Debt Securities purchased with Principal Proceeds, (vi) notwithstanding clause (i) above, any
Uninvested Proceeds on deposit in the Payment Account following a Ratings Confirmation, (vii)
notwithstanding clause (i) above, any Uninvested Proceeds on deposit in the Payment Account following
a Ramp-Up Ratings Confirmation Failure, to the extent such funds are in excess of the amount of
Uninvested Proceeds that must be used to make payments in respect of principal on the Notes in order to
obtain a Ratings Confirmation and (viii) any other payments received with respect to the Collateral and
not included in Interest Proceeds (other than funds on deposit in the Discretionary Interest Shortfall
Reserve Account and Eligible Investments made with funds on deposit in the Discretionary Interest
Shortfall Reserve Account).
“Qualified Preferred Stock” shall mean any Preferred Interest of the related Real Estate Entity in
respect of which no dividends thereon (other than dividends payable solely in kind) shall be required to be
paid at any time or to the extent that such payment would be prohibited by the terms of any credit
agreement, and that is not redeemable prior to the tenth anniversary of the effective date under such credit
agreement under any circumstance.
“Real Estate Entity Trigger Event” means, with respect to any Real Estate Entity, the occurrence
of any of the following events, as reported by the Collateral Manager:
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