Attentus CDO I Offering Circular - Irish Stock Exchange

Trust Preferred Securities Optional Redemption Date or Trust Preferred Securities Special Redemption
Date). The provisions described above are intended to enable the Trustee to effectively enforce the
Noteholders’ rights if a default occurs on any Trust Preferred Securities or related Corresponding
Debentures. The Indenture will provide that if such a default occurs, the Trustee will attempt to
maximize the recovery value to the Noteholders by engaging in restructuring efforts, bringing
enforcement proceedings and/or taking any other measures that the Trustee may deem appropriate.
Because of the illiquid nature of the Trust Preferred Securities, it is unlikely that the Trustee would be
able to sell the defaulted Trust Preferred Securities, or upon a Liquidation, the Corresponding Debentures,
on economically acceptable terms. In certain cases, the Trustee will be the holder of all of the Trust
Preferred Securities issued by each Trust Preferred Securities Issuer. Therefore, it will also be
responsible for approving or disapproving any waiver or amendment of the terms of those Trust Preferred
Securities that may be requested by a Trust Preferred Securities Issuer, and the terms of those Trust
Preferred Securities will require the Trustee’s consent to any waiver or material amendment to the
Corresponding Debentures. See also “Risk Factors—Considerations Relating to the Collateral—Trust
Preferred Securities—Trust Preferred Securities—Limited Voting Rights.” In determining any action to
be taken with respect to a defaulted Trust Preferred Securities or any response to a waiver or amendment
request concerning any Trust Preferred Securities or Corresponding Debenture, the Trustee may retain
advisors selected by it (including legal advisors and investment banking or asset management firms),
whose fees will constitute administrative expenses payable from Collections and the Trustee will be fully
protected with respect to any action taken by it in reasonable good faith reliance on advice provided by
such advisors.
Description of Subordinated Securities
The following summary of certain terms and provisions of the Subordinated Securities refers only
to the Subordinated Securities to be acquired by the Issuer on the Closing Date, does not purport to be
complete and is subject to, and qualified in its entirety by reference to, the actual provisions of the
respective Subordinated Security Indentures of the Subordinated Securities Issuers and such Subordinated
Securities. Copies of the form of Subordinated Security Indenture may be obtained by Noteholders upon
request in writing to the Trustee at its Corporate Trust Office and by prospective initial purchasers of
Notes from the Initial Purchaser.
Each Subordinated Security will represent subordinated, unsecured debt of the related
Subordinated Securities Issuer and will be issued pursuant to an indenture (each, a “Subordinated Security
Indenture”).
Interest
Interest on the Subordinated Securities will be payable quarterly or semi-annually in arrears, at a
fixed rate per annum.
Subordination
Each Subordinated Security Indenture will provide that the Subordinated Securities will be
subordinate and junior in right of payment to the prior payment in full of all present and future Senior
Indebtedness of the applicable Subordinated Securities Issuer. No payment of principal of or premium, if
any, or interest or any other payment due on the related Subordinated Securities and no redemption,
exchange, retirement, purchase or other acquisition of any Subordinated Securities may be made if (i) any
payment due on any Senior Indebtedness of the applicable Subordinated Securities Issuer is not paid
when due and any applicable grace period with respect to a payment default under such Senior
Indebtedness has ended and such default has not been cured or waived or ceased to exist or (ii) the
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