Attentus CDO I Offering Circular - Irish Stock Exchange

The Real Estate Entity Indentures generally provide that any event described below which has
occurred and is continuing with respect to the Corresponding Debentures issued under the related Real
Estate Entity Indenture constitutes an “event of default” with respect to such Corresponding Debentures:
(i) default for 30 days in the payment of any interest on such Corresponding
Debentures when due (it being understood that commencement and continuation of an Extension
Period in accordance with the terms of such Corresponding Debentures shall not constitute a
default under this clause);
(ii) default in the payment of all or any part of the principal of or premium, if any, on
such Corresponding Debentures when due, whether at maturity, upon redemption, by acceleration
of maturity or otherwise;
(iii) default by the applicable Real Estate Entity in the performance of, or breach of,
certain of its covenants or agreements in such Real Estate Entity Indenture or in such Real Estate
Entity’s placement agreement which shall not have been remedied for a period of 30 days after
written notice to such Real Estate Entity by the Indenture Trustee or to such Real Estate Entity
and the Indenture Trustee by the holders of not less than 25% in aggregate principal amount of
such Corresponding Debentures then outstanding;
(iv) certain events of bankruptcy, insolvency or reorganization of the applicable Real
Estate Entity; or
(v) the Liquidation of the applicable Real Estate Entity’s subsidiary Trust Preferred
Securities Issuer, except in connection with the distribution of the Corresponding Debentures of
such Real Estate Entity to the holders of the related Trust Preferred Issuer Securities in
Liquidation of the Trust Preferred Securities Issuer, the redemption of all of such Trust Preferred
Issuer Securities, or mergers, consolidations or amalgamations, each as permitted by the related
Trust Agreement.
If an event of default shall have occurred and be continuing, either the Indenture Trustee or the
holders of not less than 25% in aggregate principal amount of the related Corresponding Debentures then
outstanding may declare the principal of and premium, if any, and accrued interest on all such
Corresponding Debentures to be due and payable immediately. Upon certain conditions any such
acceleration may be annulled and past defaults may be waived (except defaults in payments of principal
of or premium, if any, or interest on such Corresponding Debentures, which must be cured or paid in full)
by the holders of a majority in aggregate principal amount of such Corresponding Debentures then
outstanding.
The right of the holder of any Corresponding Debenture to receive payment of the principal of
and premium, if any, and interest on such Corresponding Debenture when due, or to institute suit for the
enforcement of any such payment, shall not be impaired or affected without the consent of such holder.
An event of default under a Real Estate Entity Indenture also constitutes an event of default under
the related Trust Agreement (a “Trust Agreement Event of Default”). Upon the occurrence of one or
more of the Trust Agreement Events of Default, the Property Trustee, so long as it is the sole holder of the
related Corresponding Debentures, will have the right to declare the principal of and premium, if any, and
accrued interest on the Corresponding Debentures to be immediately due and payable. A waiver of any
event of default under a Real Estate Entity Indenture will constitute a waiver of the related Trust
Agreement Event of Default.
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