MARFIN EGNATIA BANK S.A. - Irish Stock Exchange

accordance with the Payments Priorities;
(iii)
(iv)
(v)
following the occurrence of an Issuer Event which is continuing,
any payments to be made in accordance with the Payments
Priorities (to the extent not otherwise to be paid by the Issuer or
by any drawing under the Credit Facility and/or any Facility
Special Ledger Drawing);
repayments of Facility Special Ledger Drawings to the Facility
Special Ledger (subject to the netting provisions set out in the
Credit Facility Agreement); and
any repayments of drawings under the Credit Facility, other than
Facility Special Drawings.
"Facility Special Ledger Drawing" means a drawing from the Facility
Special Ledger.
Hedge Collateral Ledgers:
Facility Special Ledger:
Commingling Ledger:
The Hedge Collateral Ledgers will be credited with amounts of collateral
(together with any interest or other income earned thereon) provided by
the Hedging Counterparties and will be operated in accordance with the
terms of the Servicing Deed.
The Facility Special Ledger will be credited with Facility Special
Drawings under the Credit Facility and will be operated in accordance
with the terms of the Servicing Deed.
On the Programme Closing Date the Commingling Ledger will be
credited with €23,717,000.
On and prior to the occurrence of an Issuer Insolvency Event and for as
long as the Issuer's credit rating for its short term unsecured,
unsubordinated, unguaranteed debt obligations:
(a)
(b)
is below "Prime-1" in the case of Moody's or "F-1" in the case of
Fitch (or is at least equal to "Prime-1" in the case of Moody's and
"F-1" in the case of Fitch but the Rating Confirmation referred to
in paragraph (b) below has not been received), the Issuer will
credit to the Commingling Ledger such amounts as would be
necessary to ensure that at all times amounts standing to the credit
of the Commingling Ledger are at least equal to three times the
average monthly amount of Collections received by the Issuer in
relation to the Loan Assets in the twelve months period preceding
the later of (i) the most recent Programme Payment Date and (ii)
the most recent Issue Date of a Series of Covered Bonds; or
is at least equal to "Prime-1" in the case of Moody's and "F-1" in
the case of Fitch and subject to receipt of a Rating Agency
Confirmation, the Issuer will credit to the Commingling Ledger
such amounts as would be necessary to ensure that at all times
amounts standing to the credit of the Commingling Ledger are at
least equal to the average monthly amount of Collections received
by the Issuer in relation to the Loan Assets in the twelve months
period preceding the later of (i) the most recent Programme
Payment Date and (ii) the most recent Issue Date of a Series of
Covered Bonds.
Authorised Investments:
In accordance with the terms of the Servicing Deed, the Servicer may, in
its discretion invest sums standing to the credit of the Transaction Account
in Authorised Investments.
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