OCI Euro Fund I B.V. - Irish Stock Exchange

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TRANSFER RESTRICTIONS................................................................................................................ 256 GENERAL INFORMATION.................................................................................................................... 270 1. Clearing Systems..................................................................................................................... 270 2. Listing ...................................................................................................................................... 270 3. Consents and Authorisations ................................................................................................... 270 4. No Significant or Material Change ........................................................................................... 271 5. No Litigation............................................................................................................................. 271 6. Accounts .................................................................................................................................. 271 7. Documents Available ............................................................................................................... 271 8. Enforceability of Judgments..................................................................................................... 272 9. Irish Transfer and Paying Agent............................................................................................... 272 10. Expenses ................................................................................................................................. 272 INDEX OF DEFINED TERMS................................................................................................................ 273 10:21\10 July 2007\LONDON\CWM\4369396.02 xii
SUMMARY The following is a summary only. It is important that all investors and potential investors in the Notes recognise and understand that the following information is not complete, cannot be read in isolation and is qualified in its entirety by the detailed information appearing elsewhere in this Prospectus and the other documents referred to therein. Potential investors in the Notes should also ensure that they read and consider the risk factors related to an investment in the Notes set out under "Risk Factors" in this Prospectus before investing therein. Capitalised terms not specifically defined in this Summary have the meanings set out in Condition 1 (Definitions) under "Terms and Conditions of the Notes" below or are defined elsewhere in this Prospectus. An index of defined terms appears at the back of this Prospectus. References to a "Condition" or "Conditions" are to the specified condition or conditions in the "Terms and Conditions of the Notes" below. Issuer: Investment Manager: OCI Euro Fund I B.V., a private company with limited liability incorporated under the laws of The Netherlands. Octagon Credit Investors (UK) Ltd. Notes: Class of Notes Principal Amount Stated Interest Rate Class A1 €52,500,000 6 month EURIBOR 4/5 + 0.30% Class A2 €145,000,000 6 month EURIBOR +0.21% Class A3 €49,500,000 6 month EURIBOR +0.31% Class B €21,000,000 6 month EURIBOR +0.45% Class C €21,000,000 6 month EURIBOR +0.75% Class D €19,000,000 6 month EURIBOR +1.75% Class E €22,000,000 6 month EURIBOR +4.25% S&P Rating 2 Moody's Rating 2 Stated Maturity "AAA" "Aaa" 15 August 2024 "AAA" "Aaa" 15 August 2024 "AAA" "Aaa" 15 August 2024 "AA" "Aa2" 15 August 2024 "A" "A2" 15 August 2024 "BBB" "Baa3" 15 August 2024 "BB" "Ba3" 15 August 2024 Class F €26,500,000 N/A N/A N/A 15 August 2024 Initial Offer Price 3 100% 100% 100% 100% 100% 100% 100% 100% Class of Combination Notes Principal Amount S&P Rating 2 Moody's Rating 2 Stated Maturity Initial Offer Price 3 Class P €15,000,000 N/A "Aaa" 15 August 2024 100% __________________________________ 1 Subject to available Interest Proceeds. See Condition 6(a)(ii) (Class F Subordinated Notes). 10:21\10 July 2007\LONDON\CWM\4369396.02 1
Page 1 and 2: OCI Euro Fund I B.V. (a private com
Page 3 and 4: Trustee, the Custodian nor any Agen
Page 5 and 6: PERSONS IN RELIANCE ON REGULATION S
Page 7 and 8: GERMAN SECURITIES PROSPECTUS ACT AN
Page 9 and 10: REOFFERING OR RESALE, DIRECTLY OR I
Page 11: TABLE OF CONTENTS Page SUMMARY.....
Page 15 and 16: Class P OAT Strips: denominated in
Page 17 and 18: Deferral of Interest: Redemption of
Page 19 and 20: Interest Proceeds Priority of Payme
Page 21 and 22: Principal Proceeds Priority of Paym
Page 23 and 24: Purchase of Collateral Debt Obligat
Page 25 and 26: (b) (c) (d) (e) relevant Measuremen
Page 27 and 28: Authorised Denominations: Regulatio
Page 29 and 30: on behalf of any U.S. Person (as de
Page 31 and 32: 2.2 Limited Recourse Obligations Th
Page 33 and 34: payable on the Class B Notes, Class
Page 35 and 36: 2.12 Future Ratings of the Rated No
Page 37 and 38: to 20 per cent. per annum of the as
Page 39 and 40: holder files certain United States
Page 41 and 42: Obligations and could ultimately af
Page 43 and 44: Senior Loans and Mezzanine Obligati
Page 45 and 46: ating the Notes or any recovery rat
Page 47 and 48: Prospective investors in the Notes
Page 49 and 50: Investments bear interest on a part
Page 51 and 52: the holders of the Class F Subordin
Page 53 and 54: with the terms of the Agency Agreem
Page 55 and 56: account advised and/or managed by a
Page 57 and 58: 8. Forced Transfer Each initial pur
Page 59 and 60: For the purposes of these Condition
Page 61 and 62: (b) (c) (d) (e) (f) (g) (h) (i) (j)
Page 63 and 64:
eceivable on such Non-Euro Obligati
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(e) (f) (g) (h) the Class C Notes;
Page 67 and 68:
"Class A1 Dollar Rate of Interest"
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"Class A2 Floating Rate of Interest
Page 71 and 72:
determined by the Collateral Admini
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so that the aggregate amount of suc
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"Credit Short Obligation Counterpar
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of any Credit Short Obligation Repl
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"Derivative Counterparty Downgrade
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"Effective Date" means the earlier
Page 83 and 84:
isk, any Dutch Ineligible Securitie
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(b) (c) the identity of the protect
Page 87 and 88:
(C) (D) (E) (F) (G) (H) any amounts
Page 89 and 90:
"Management Agreement" means the ma
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(i) (j) to the payment on a Pro Rat
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"Payment Date Report" means the acc
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of Payment on such Payment Date) an
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a Business Day (unless it would fal
Page 99 and 100:
"Revolving Security" means any Coll
Page 101 and 102:
"Scheduled Periodic Issuer Credit S
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Collateral Balance (calculated usin
Page 105 and 106:
"Unused Proceeds Accounts" means th
Page 107 and 108:
substantiating that it is a QIB/QP
Page 109 and 110:
minimum profit required to be retai
Page 111 and 112:
is not satisfied on the related Det
Page 113 and 114:
Tests elect to use Principal Procee
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the Initial Rate of Exchange) of St
Page 117 and 118:
eason solely that there are insuffi
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Notwithstanding any other provision
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(T) (U) (V) (W) (X) all amounts tra
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into, respectively, the Euro Intere
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(5) at any time, any Scheduled Peri
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The Issuer will procure payment of
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(C) (D) (E) at any time, any amount
Page 131 and 132:
security interest referred to in (i
Page 133 and 134:
security to a third party the Issue
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(e) Exercise of Rights in Respect o
Page 137 and 138:
(A) (B) the Notes, or any document
Page 139 and 140:
"Deferred Interest") shall be defer
Page 141 and 142:
Floating Rate of Interest, Class D
Page 143 and 144:
However the Issuer shall provide Wr
Page 145 and 146:
(o) Notification of Class A1 Rate o
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Collateral Type (C) amounts receiva
Page 149 and 150:
(e) Class A1 Repayments Provided th
Page 151 and 152:
payable in respect of such Notes an
Page 153 and 154:
ecomes due and payable or, followin
Page 155 and 156:
(f) Non-payment of distributions on
Page 157 and 158:
(J) (K) (L) (M) (N) (O) (P) to the
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Ordinary Resolution of all Notehold
Page 161 and 162:
then in addition to such Extraordin
Page 163 and 164:
interest in the outcome of the conf
Page 165 and 166:
USE OF PROCEEDS The estimated net p
Page 167 and 168:
Any interest in a Regulation S Glob
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Exchange of Global Certificates for
Page 171 and 172:
BOOK-ENTRY CLEARANCE PROCEDURES The
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indirect participants, the ability
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RATINGS OF THE NOTES It is a condit
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THE ISSUER General The Issuer was i
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THE INVESTMENT MANAGER The informat
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Bodie worked in The Chase Manhattan
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Other than with respect to the Ramp
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(q) (r) (s) (t) (u) (v) (w) (x) (y)
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Principal Balance of the Collateral
Page 189 and 190:
Criteria (determined for this purpo
Page 191 and 192:
(a) (b) (c) (d) (e) (f) to the Inve
Page 193 and 194:
Enhancement Obligation that is sold
Page 195 and 196:
notwithstanding that it may not sat
Page 197 and 198:
Offsetting Credit Default Swap The
Page 199 and 200:
Each Class A1 Drawing is subject to
Page 201 and 202:
(c) where neither paragraphs (a) no
Page 203 and 204:
For any given case: (a) (b) (c) the
Page 205 and 206:
S&P Breakeven Rate Case Recovery Sc
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Minimum Weighted Average Recovery R
Page 209 and 210:
The "Class E Scenario Default Rate"
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(c) (d) (e) an "Equivalent Unit Sco
Page 213 and 214:
Diversity Score Table Aggregate Ind
Page 215 and 216:
Revolving Security bears interest a
Page 217 and 218:
with the acquisition thereof by the
Page 219 and 220:
shall be one subcategory above the
Page 221 and 222:
Removal for Cause The Investment Ma
Page 223 and 224:
exercising a degree of skill and at
Page 225 and 226:
DESCRIPTION OF THE COLLATERAL ADMIN
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Termination No additional Class A1
Page 229 and 230:
HEDGING ARRANGEMENTS 1. General The
Page 231 and 232:
In the event that the Issuer receiv
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"Initial Rating Event" means with r
Page 235 and 236:
DESCRIPTION OF THE REPORTS Terms us
Page 237 and 238:
Principal Proceeds in Substitute Co
Page 239 and 240:
(h) (i) a list of the Collateral De
Page 241 and 242:
This summary does not address the D
Page 243 and 244:
eciprocal provision of information
Page 245 and 246:
Any gains realized upon a sale or p
Page 247 and 248:
discussed herein), charitable remai
Page 249 and 250:
existing on the Initial Issue Date
Page 251 and 252:
Election to Treat All Interest as O
Page 253 and 254:
equity interests in the Issuer, the
Page 255 and 256:
U.S. Shareholder), then solely for
Page 257 and 258:
Tax Treatment of Tax-Exempt U.S. Ho
Page 259 and 260:
withholding rules. The application
Page 261 and 262:
egulations promulgated by the U.S.
Page 263 and 264:
or may have entered into, on behalf
Page 265 and 266:
or for the accounts of QIBs, each o
Page 267 and 268:
(j) Israel This offer is intended s
Page 269 and 270:
in the Rule 144A Notes (except when
Page 271 and 272:
ASSETS OF SUCH GENERAL ACCOUNT CONS
Page 273 and 274:
e null and void ab initio and the I
Page 275 and 276:
OF SECTION 406 OF ERISA OR SECTION
Page 277 and 278:
subject to any federal, state, loca
Page 279 and 280:
to a purchaser that does not comply
Page 281 and 282:
THE FAILURE TO PROVIDE THE ISSUER,
Page 283 and 284:
4. No Significant or Material Chang
Page 285 and 286:
INDEX OF DEFINED TERMS Page €....
Page 287 and 288:
Class A Noteholders ...............
Page 289 and 290:
Class C Margin ....................
Page 291 and 292:
Controlling Class..................
Page 293 and 294:
Dollar Margin......................
Page 295 and 296:
Form-Approved Credit Short Obligati
Page 297 and 298:
Issuer ............................
Page 299 and 300:
Participants ......................
Page 301 and 302:
Reference Banks ...................
Page 303 and 304:
Securities Act.....................
Page 305 and 306:
Unused Proceeds Interest Account...
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OCI Euro Fund I B.V. - Irish Stock Exchange

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