Attentus CDO I Offering Circular - Irish Stock Exchange

then the Issuer will instead acquire Collateral Debt Securities from
the next highest ranking issuer on such schedule from whom such
Collateral Debt Securities are available on such terms and in
accordance with such restrictions.
The Collateral Debt Securities purchased by the Issuer will have the
characteristics and satisfy the criteria set forth herein under “Security
for the Senior Notes—Collateral Debt Securities” and “—Criteria
for Purchase of Collateral—Eligibility Criteria.” Although the
Issuer expects that the Collateral Debt Securities purchased by it
will, on the day on which it has purchased Collateral Debt Securities
having an aggregate principal balance at least equal to the Aggregate
Ramp-Up Par Amount, satisfy the Coverage Tests and the Collateral
Quality Tests described herein, there is no assurance that such tests
will be satisfied on such date. Failure to satisfy the Coverage Tests
on or following the Ramp-Up Completion Date may result in the
prepayment or redemption of a portion of the Notes (according to the
priority specified in the Priority of Payments). See “Description of
the Offered Notes—Mandatory Redemption.”
The Issuer may also acquire Collateral Debt Securities after the
Ramp-Up Completion Date, subject to certain limitations. See
“Security for the Senior Notes—Collateral Debt Securities—
Changes in Composition of the Collateral Debt Securities” and “—
Criteria for Purchases of Collateral—Additional Eligibility Criteria
for Additional Collateral Debt Securities.”
Collateral Debt
Securities:
“Collateral Debt Securities” consist of U.S. dollar denominated (a)
trust preferred securities (the “Trust Preferred Securities”) issued by
trust subsidiaries (each, a “Trust Preferred Securities Issuer”) of
entities qualifying and electing to be treated as a “real estate
investment trust” for U.S. federal income tax purposes or any
subsidiary thereof (each a “REIT”), real estate operating companies
(including trusts and other entities) that are not treated as REITs or
any subsidiary thereof (each a “REOC”) or homebuilders or any
subsidiary thereof (each a “Homebuilder” and collectively with the
REITs and REOCs, the “Real Estate Entities”), (b) senior securities
(the “Senior Securities”) issued by Real Estate Entities (each a
“Senior Securities Issuer”), (c) subordinated securities and
subordinated securities which are senior to other subordinated
securities issued by the same issuer (“Senior Subordinated
Securities” and, together with subordinated securities, the
“Subordinated Securities” and together with the Senior Securities,
the “Real Estate Entity Securities”) issued by Real Estate Entities
(each, a “Subordinated Securities Issuer” and together with the
Senior Securities Issuers, the “Security Issuers”), (d) commercial
mortgage-backed securities (“CMBS”) issued by CMBS issuers
(each, a “CMBS Issuer”), (e) senior secured leveraged loans secured
directly or indirectly by interests in real estate and/or other assets
(“Senior Secured Loans”) and senior unsecured loans to Real Estate
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