Attentus CDO I Offering Circular - Irish Stock Exchange

Proceeds (in accordance with paragraph (7) above) to pay principal of the Notes, to the payment
of principal of, first, the Class A-1 Notes, second, the Class A-2 Notes, third, the Class B Notes,
fourth, the Class C-1 Notes, fifth, the Class C-2A Notes and Class C-2B Notes, pro rata, and sixth,
the Class D Notes;
(13) to the payment of Class D Deferred Interest in respect of the Class D Notes (in
reduction of the principal amount of the Class D Notes);
(14) to the payment of accrued and unpaid interest on the Class E Notes (including
Defaulted Interest and interest thereon, if any, but excluding any Class E Deferred Interest);
(15) (a) if either Class E Coverage Test is not satisfied on the related Determination
Date and if any Senior Notes remain outstanding, to the payment of principal of, first, the Class
A-1 Notes, second, the Class A-2 Notes, third, the Class B Notes, fourth, the Class C-1 Notes,
fifth, the Class C-2A Notes and Class C-2B Notes, pro rata, sixth, the Class D Notes and seventh,
the Class E Notes, to the extent necessary to cause each of the Class E Coverage Tests to be
satisfied on the related Determination Date, and (b) on the first Distribution Date on or after the
Ramp-Up Completion Date, if a Ramp-Up Ratings Confirmation Failure has occurred, in the
event that the Issuer is unable to obtain a Ratings Confirmation after the application of
Uninvested Proceeds and Interest Proceeds (in accordance with paragraph (7) above) to pay
principal of the Notes, to the payment of principal of, first, the Class A-1 Notes, second, the Class
A-2 Notes, third, the Class B Notes, fourth, the Class C-1 Notes, fifth, the Class C-2A Notes and
Class C-2B Notes, pro rata, sixth, the Class D Notes and seventh, the Class E Notes;
(16) to the payment of Class E Deferred Interest in respect of the Class E Notes (in
reduction of the principal amount of the Class E Notes);
(17) to the payment of any termination payments (and any accrued interest thereon)
payable by the Issuer to the Hedge Counterparties pursuant to the Hedge Agreements by reason
of an “Event of Default” or “Termination Event” as to which such Hedge Counterparty is the
“Defaulting Party” or the sole “Affected Party”;
(18) to the payment of all other accrued and unpaid administrative expenses of the
Issuer (excluding any Collateral Management Fee) not paid pursuant to paragraph (2) above
(whether as the result of the limitations on amounts set forth therein or otherwise), in the order of
priority specified therein;
(19) to the payment to the Collateral Manager of accrued and unpaid Subordinate
Collateral Management Fee;
(20) on each Distribution Date on or after the Distribution Date in November 2008, to
and including the Distribution Date in May 2016, to the payment, pro rata, of principal of the
Class D Notes and the Class E Notes until each such Class of Notes has been paid in full;
provided, that all payments made pursuant to this paragraph (20) shall not exceed on any
Distribution Date an amount equal to 25% of the Interest Proceeds available after application of
such Interest Proceeds pursuant to paragraph (19) above;
(21) on any Distribution Date occurring after the Distribution Date in May 2016, to
the payment, pro rata, of principal of, the Class A-1 Notes, the Class A-2 Notes, the Class B
Notes, the Class C-1 Notes, the Class C-2 Notes (pro rata between the Class C-2A Notes and the
Class C-2B Notes), the Class D Notes and the Class E Notes, until each such Class of Senior
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