Octagon Investment Partners IX, Ltd. JPMorgan - Irish Stock Exchange

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looking statements will not materialize or will vary significantly from actual results. Variations of assumptions and results may be material. Without limiting the generality of the foregoing, the inclusion of forward-looking statements herein should not be regarded as a representation by either the Issuer or the Co-Issuer, the Collateral Manager, the Placement Agent or any of their respective affiliates or any other person of the results that will actually be achieved by the Co-Issuers or the Offered Securities. None of the foregoing persons has any obligation to update or otherwise revise any forwardlooking statements, including any revision to reflect changes in any circumstances arising after the date hereof relating to any assumptions or otherwise. -xvi-
TABLE OF CONTENTS SUMMARY OF TERMS ..............................................................................................................................................2 RISK FACTORS ...........................................................................................................................................................2 THE CO-ISSUERS........................................................................................................................................................2 General ...................................................................................................................................................................2 Capitalization..........................................................................................................................................................2 Business..................................................................................................................................................................2 The Administrator ..................................................................................................................................................2 The LLC Manager ..................................................................................................................................................2 DESCRIPTION OF THE OFFERED SECURITIES ....................................................................................................2 Status and Security .................................................................................................................................................2 Interest....................................................................................................................................................................2 Principal .................................................................................................................................................................2 Redemption ............................................................................................................................................................2 Optional Redemption of Notes by Liquidation of Collateral ..........................................................................2 Optional Redemption of Notes Using Additional Notes or Secured Loans. ...................................................2 Special Redemption.........................................................................................................................................2 Coverage Test Failure Redemption.................................................................................................................2 Tax Redemption ..............................................................................................................................................2 Optional Redemption of the Preferred Shares.................................................................................................2 Redemption Procedures...................................................................................................................................2 Required Disposition..............................................................................................................................................2 Payments on the Offered Securities........................................................................................................................2 No Gross-Up...........................................................................................................................................................2 Form, Denomination, Registration and Transfer of the Offered Securities............................................................2 APPLICATION OF FUNDS.........................................................................................................................................2 Interest and Principal Proceeds...............................................................................................................................2 Priority of Payments...............................................................................................................................................2 Distributions of Interest Proceeds ...................................................................................................................2 Distributions of Principal Proceeds.................................................................................................................2 Liquidation of Collateral; Final Distribution..........................................................................................................2 USE OF PROCEEDS ....................................................................................................................................................2 RATINGS OF THE NOTES .........................................................................................................................................2 SECURITY FOR THE NOTES ....................................................................................................................................2 General ...................................................................................................................................................................2 Collateral ................................................................................................................................................................2 Collateral Debt Obligations....................................................................................................................................2 Portfolio Profile Test ..............................................................................................................................................2 Reinvestment Period...............................................................................................................................................2 The Coverage Tests, the Reinvestment Overcollateralization Test and Collateral Quality Tests ..........................2 The Class A Overcollateralization Test..................................................................................................................2 The Class A Interest Coverage Test .......................................................................................................................2 The Class B Overcollateralization Test ..................................................................................................................2 The Class B Interest Coverage Test .......................................................................................................................2 The Class C Overcollateralization Test ..................................................................................................................2 The Class C Interest Coverage Test .......................................................................................................................2 The Reinvestment Overcollateralization Test ........................................................................................................2 Minimum Diversity/Maximum Rating/Minimum Spread/Maximum WAL ..........................................................2 The Weighted Average Rating Factor Test ............................................................................................................2 The Moody's Diversity Test ...................................................................................................................................2 The Weighted Average Life Test ...........................................................................................................................2 The Weighted Average Coupon Test .....................................................................................................................2 The Weighted Average Spread Test.......................................................................................................................2 The Weighted Average Recovery Rate Test ..........................................................................................................2 -xvii-
Page 1 and 2: Offering Subject Memorandum to Comp
Page 3 and 4: subsequent transferee will be requi
Page 5 and 6: ACCORDANCE WITH PART 6D.2 OF THE CO
Page 7 and 8: NOTICE TO RESIDENTS IN THE PROVINCE
Page 9 and 10: MUTUAL FUNDS, PORTFOLIO INVESTMENT
Page 11 and 12: THE OFFERED SECURITIES HAVE NOT BEE
Page 13 and 14: BENEFICIAL OWNERS OF SUCH OFFERED S
Page 15: Shares, the Issuer under the Prefer
Page 19 and 20: CAYMAN ISLANDS TAX CONSIDERATIONS..
Page 21 and 22: Issuer: ...........................
Page 23 and 24: Interest Reserve Account (to be app
Page 25 and 26: Counterparties as it may elect in i
Page 27 and 28: United States or any state thereof
Page 29 and 30: (iii) such calculation will not inc
Page 31 and 32: The "Reinvestment Overcollateraliza
Page 33 and 34: The foregoing descriptions are summ
Page 35 and 36: (z) Not more than the percentage of
Page 37 and 38: the proceeds of such sale may be re
Page 39 and 40: (v) the Weighted Average Rating Fac
Page 41 and 42: (6) to the payment of accrued and u
Page 43 and 44: (4) to the payment of the amounts r
Page 45 and 46: RISK FACTORS An investment in the O
Page 47 and 48: To the extent the requirements unde
Page 49 and 50: Preferred Shares. In the event of a
Page 51 and 52: Investments of the Issuer in securi
Page 53 and 54: Controlling Class are entitled to d
Page 55 and 56: the ability of the Co-Issuers to op
Page 57 and 58: Agency in rating the Notes or any r
Page 59 and 60: not directly benefit from the colla
Page 61 and 62: circumstances, the loaned Collatera
Page 63 and 64: Securities are entitled to vote, in
Page 65 and 66: As part of their regular business,
Page 67 and 68:
Declaration of Trust). It is not an
Page 69 and 70:
Carrie Bunton, Vice President Carri
Page 71 and 72:
any Notes for any Interest Accrual
Page 73 and 74:
Withholding Tax Obligations, in eac
Page 75 and 76:
Payments on the Offered Securities
Page 77 and 78:
state of the United States or any o
Page 79 and 80:
payments except the portion thereof
Page 81 and 82:
Intermediary; and (ii) all other ac
Page 83 and 84:
Payment Sequence or (y) if, on the
Page 85 and 86:
payment of all amounts due from the
Page 87 and 88:
In order to ensure that the Issuer
Page 89 and 90:
3.0% Any of Greece, Italy or Portug
Page 91 and 92:
assigning Selling Institution shoul
Page 93 and 94:
The Class B Interest Coverage Test
Page 95 and 96:
Minimum Diversity Score Maximum Wei
Page 97 and 98:
Rating/Minimum Spread/Maximum WAL M
Page 99 and 100:
Moody's Recovery Rate for All Other
Page 101 and 102:
emaining for the payment of the Cla
Page 103 and 104:
(b) the Overcollateralization Tests
Page 105 and 106:
The "Required Sale Date" means, (a)
Page 107 and 108:
Principal Collection Account All pr
Page 109 and 110:
Agreement, or if any such Swap Agre
Page 111 and 112:
Account will be utilized to purchas
Page 113 and 114:
transfer of such amounts (except fo
Page 115 and 116:
(y) replace itself under the relate
Page 117 and 118:
denominated in the same Permitted C
Page 119 and 120:
Lending Counterparty so that the Se
Page 121 and 122:
agreed that if such purchaser is no
Page 123 and 124:
or bad faith on its part, arising o
Page 125 and 126:
and all other amounts payable under
Page 127 and 128:
federal, state, local or foreign in
Page 129 and 130:
elevant provisions of the Indenture
Page 131 and 132:
Co-Issuers of all other amounts due
Page 133 and 134:
holders of the Preferred Shares of,
Page 135 and 136:
Zhen Tao, Associate. Prior to joini
Page 137 and 138:
If the Collateral Management Agreem
Page 139 and 140:
Manager, the resigning or removed C
Page 141 and 142:
Manager certain reports, schedules
Page 143 and 144:
A U.S. Holder generally will recogn
Page 145 and 146:
CAYMAN ISLANDS TAX CONSIDERATIONS T
Page 147 and 148:
The Issuer intends to limit purchas
Page 149 and 150:
In the Placement Agreement, each of
Page 151 and 152:
any of their respective affiliates
Page 153 and 154:
Additional Restrictions No transfer
Page 155 and 156:
EMPLOYEE BENEFIT PLAN SUBJECT TO TI
Page 157 and 158:
AND IS NOT A QUALIFIED PURCHASER, A
Page 159 and 160:
warehouse facility (including the l
Page 161 and 162:
GLOSSARY "Accredited Investor" mean
Page 163 and 164:
such Floating Rate Collateral Debt
Page 165 and 166:
has decreased its spread over a Lon
Page 167 and 168:
"Defaulted Obligation" means for an
Page 169 and 170:
organized under the laws of the Uni
Page 171 and 172:
provides services; provided that U.
Page 173 and 174:
"Form-Approved Synthetic Security"
Page 175 and 176:
that the Collateral Manager may bas
Page 177 and 178:
affiliates have defaulted on any de
Page 179 and 180:
"Principal Balance" means with resp
Page 181 and 182:
disposition of Collateral Debt Obli
Page 183 and 184:
"Sale Proceeds" means with respect
Page 185 and 186:
ating if such rating is higher than
Page 187 and 188:
Aa1 15% 20% Aa2 10% 20% Aa3 7.5% 15
Page 189 and 190:
INDEX OF DEFINED TERMS $...........
Page 191 and 192:
Issuer Par Amount .................
Page 193 and 194:
USA PATRIOT Act....................
Page 195 and 196:
equirement for written certificatio
Page 197 and 198:
9. We understand that the Issuer, t
Page 199 and 200:
ANNEX B FORM OF PREFERRED SHARE ERI
Page 201 and 202:
(v) (vi) the proceeds of such sale,
Page 203 and 204:
EXHIBIT A Aggregate Industry Unit S
Page 205 and 206:
Standard & Poor's Industry Classifi
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Octagon Investment Partners IX, Ltd. JPMorgan - Irish Stock Exchange

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