LCP Proudreed PLC - Irish Stock Exchange

insufficient after payment of all other claims ranking in priority to the Class A Notes, the Class B
Notes, the Class C Notes and/or the Class D Notes (as the case may be) to make payment of all
amounts due on such Notes in full. After the application of any such proceeds of enforcement
towards payment of amounts due under the Class A Notes, the Class B Notes, the Class C Notes
and/or the Class D Notes (as the case may be) in accordance with the Issuer Deed of Charge, any
further principal, interest and other amounts (if any) whatsoever due in respect of the Class A
Notes, the Class B Notes, the Class C Notes and/or the Class D Notes (as the case may be) shall be
due and payable to the Post-Enforcement Call Option Holder.
Each of the Class A Noteholders Class B Noteholders, Class C Noteholders and Class D
Noteholders acknowledges and undertakes that, by subscribing for or purchasing the Class A Notes,
Class B Notes, Class C Notes or the Class D Notes (as the case may be), they shall upon subscription
or purchase be deemed to have agreed to be bound by, and to the extent necessary to have ratified,
the Note Trustee’s entry into the Post-Enforcement Call Option Deed.
No Purchase by Issuer
(i) The Issuer will not be permitted to purchase any of the Notes.
7. PAYMENTS
Payments in respect of Global Notes
(a) Payments of interest on the Temporary Global Notes will only be made upon certification of non-US
beneficial ownership unless such certification has already been made.
On and after the Exchange Date, no payment will be made on any Temporary Global Note unless
exchange for an interest in the corresponding Permanent Global Note has been improperly withheld
or refused. Payments of principal, interest and other amounts (if any) in respect of Notes
represented by a Global Note will be made against presentation for endorsement and, if no further
payment falls to be made in respect of the Notes, surrender of such Global Note to the order of the
Principal Paying Agent. A record of each payment made will be endorsed on the appropriate
schedule to the relevant Global Note by the Issuer (or by the Principal Paying Agent on its behalf).
Such endorsement shall be prima facie evidence that such payment has been made in respect of the
Global Note.
Payments of Principal in respect of Definitive Notes
(b) Payments of principal in respect of the Definitive Notes will be made against presentation and (in
the case of final redemption, provided that payment is made in full) surrender of the Definitive
Notes at the specified office of any Paying Agent.
Payments of Interest in respect of Definitive Notes
(c) Payments of interest in respect of the Definitive Notes will (subject as provided in Condition 7(f)
(Payments - Unmatured Coupons and Talons Void) and Condition 7(g) (Payments – Payment of
Interest on Withheld Amounts) below) be made against presentation and (provided that payment is
made in full) surrender of the relevant Coupons at the specified office of any Paying Agent.
Currency of Payment
(d) Payments in respect of the Notes will be made in Sterling by cheque drawn on a bank in the United
Kingdom or, at the option of the Noteholder, by transfer to a Sterling account maintained by the
payee.
Payments subject to the Issuer Deed of Charge and all Fiscal Laws
(e) Payments of principal, interest and other amounts (if any) in respect of the Notes are subject in all
cases to the applicable Issuer Priority of Payments and the Issuer Deed of Charge and to any fiscal
or other laws and regulations applicable thereto.
Unmatured Coupons and Talons Void
(f) On the date on which any Definitive Note becomes due and payable in full, unmatured Coupons and
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