Attentus CDO I Offering Circular - Irish Stock Exchange

(iii) each Synthetic Security contains appropriate limited recourse and non-petition
provisions (to the extent that the Issuer has contractual payment or other obligations to the
Synthetic Security Counterparty) equivalent (mutatis mutandis) to those contained in the
Indenture;
(iv) each Rating Agency may revoke its consent to the documentation underlying a
Form-Approved Synthetic Security upon 30 days' prior written notice (and which revocation shall
only take effect prospectively and not retroactively with respect to any Form-Approved Synthetic
Securities then included in the Collateral Debt Securities);
(v) unless the Synthetic Security is a Form-Approved Synthetic Security, the Rating
Condition shall have been satisfied; provided, that:
(a) a Synthetic Security shall not be used as a means of making future
advances to a Synthetic Security Counterparty;
(b) each Synthetic Security that is a credit default swap shall provide that
upon the occurrence of a credit event thereunder, such Synthetic Security may be settled
only through a physical settlement of a Deliverable Obligation to the Issuer and not in
cash; and
(c) each Synthetic Security and any Reference Obligation relating thereto,
and all payment obligations of the Issuer and any counterparty or issuer of such Synthetic
Security, shall be denominated in U.S. dollars.
“Synthetic Security Collateral” means collateral required to be pledged to a Synthetic Security
Counterparty as collateral pursuant to the terms of a Synthetic Security.
“Synthetic Security Counterparty” means an entity required to make payments on a Synthetic
Security pursuant to the terms of such Synthetic Security or any guarantee thereof to the extent that a
Reference Obligor makes payments on a related Reference Obligation, (a) which counterparty, or the
long-term senior unsecured debt of such counterparty (or its secured debt if such counterparty is a trust
and its debt is secured by a reference obligation), shall individually and, together with all other Synthetic
Security Counterparties, in the aggregate satisfy the required debt ratings set forth in the Indenture, and
(b) with respect to which the Rating Condition is satisfied.
“Synthetic Securities Issuer” means, with respect to a Synthetic Security, the related Synthetic
Security Counterparty.
Certain Matters Relating to Synthetic Securities
as:
General. Synthetic Securities will be purchased or entered into by the Issuer for such purposes
(i) structuring an investment in Reference Obligations with a desired maturity,
currency or interest rate which otherwise may be inconsistent with the criteria for purchasing
Collateral Debt Securities;
(ii)
Obligor; or
achieving yield enhancement based on the coupon payments by a Reference
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