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

(j)
in respect of the Class P Combination Notes, on any
Payment Date upon which a payment of principal or
interest is payable in respect of the Class F
Subordinated Notes corresponding to the Class F
Subordinated Component and on any Payment Date
upon which Class P OAT Strips are sold in accordance
with the Trust Deed and upon receipt by the Custodian
of the redemption proceeds at maturity of the Class P
OAT Strips.
Non-Call Period: The Issue Date, to but excluding 15 August 2010.
Optional Redemption After
Non-Call Period
Redemption Prices:
Priorities of Payment:
Subject as provided below in respect of the Class P Combination
Notes and subject to the provisions of Condition 7(b)
(Redemption at the Option of the Class F Subordinated
Noteholders), the Notes of each Class are redeemable by the
Issuer, in whole but not in part, at the applicable Redemption
Prices (see below), from the proceeds of liquidation or realisation
of the Collateral, on any Payment Date falling on or after expiry
of the Non-Call Period, at the direction of an Extraordinary
Resolution of the Class F Subordinated Noteholders. Upon an
early redemption of the Notes pursuant to Condition 7(b)
(Redemption at the Option of the Class F Subordinated
Noteholders) the amount received in respect of the Class F
Subordinated Component of the Class P Combination Notes and
the amount equal to the related Class P OAT Strips Sale
Proceeds of the Class P OAT Relevant Sale Portion shall be
applied in redemption of the Principal Amount Outstanding of the
Class P Combination Notes.
Upon redemption in full of the Class F Subordinated Component
any remaining Class P OAT Strips will be applied in accordance
with Condition 7(j) (Redemption of Combination Notes).
The Redemption Price of each Class A1 Note will be (a) 100 per
cent. of the Principal Amount Outstanding of the Class A1 Note
to be redeemed plus (b) accrued and unpaid interest thereon to
the day of redemption plus (c) accrued and unpaid Class A1
Commitment Fees applicable to such Class A1 Note and where
such Class A1 Note is redeemed on a Business Day other than
the Business Day following the last day of the related Interest
Accrual Period in respect of each related Class A1 Drawing, the
Break Cost attributable to each Class A1 Drawing shall also be
payable on the date upon which the Class A1 Drawing is repaid.
The Redemption Price of any Class A2 Notes, Class A3 Notes,
Class B Notes, Class C Notes, Class D Notes or Class E Notes
will be (a) 100 per cent. of the Principal Amount Outstanding of
the Notes to be redeemed plus (b) accrued and unpaid interest
thereon (including any accrued and unpaid Deferred Interest on
such Notes) to the day of redemption.
The Redemption Price for each Class F Subordinated Note will
be its Pro Rata share (calculated in accordance with paragraphs
(B) and (F) of the Principal Proceeds Priority of Payments (to the
extent that such paragraphs incorporate paragraphs (U) through
(CC) (inclusive) of the Interest Proceeds Priority of Payments) of
the aggregate proceeds of liquidation of the Collateral, or
realisation of the security thereover in such circumstances,
remaining following application thereof in accordance with the
Priorities of Payment.
Interest Proceeds and Principal Proceeds will be applied on each
Payment Date in accordance with (i) in the case of Interest
Proceeds, the Interest Proceeds Priority of Payment, (ii) in the
case of Principal Proceeds, the Principal Proceeds Priority of
Payment, and (iii) in the case of Collateral Enhancement
Obligation Proceeds, the Collateral Enhancement Obligation
Proceeds Priority of Payment (together, the "Pre-Enforcement
10:21\10 July 2007\LONDON\CWM\4369396.02
6