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

payment of all amounts due from the Issuer to such Swap Counterparties under all Swap Agreements in effect
from time to time and, second, for the benefit of the other Secured Parties; and
(7) all subaccounts, accessions, profits, income benefits, proceeds, substitutions and replacements, whether
voluntary or involuntary, of and to any of the property of the Issuer described in the preceding clauses (other
than amounts on deposit in the Initial Capital Amount Account).
For the avoidance of doubt, the Collateral will not include the Excepted Property or any proceeds therefrom.
Collateral Debt Obligations
A "Collateral Debt Obligation" will be any obligation that, at the time the Issuer enters into the commitment to
acquire such obligation:
(a) is a senior secured or a senior unsecured term or revolving loan (including (i) a letter of credit
reimbursement obligation and (ii) if secured, a DIP Loan), including a Participation interest therein, a corporate
debt security (including an investment grade debt security, a high-yield debt security and a mezzanine debt
security), a Synthetic Security, a Structured Finance Security or a certificate of beneficial interest in an
equipment trust that has the general characteristics of a debt obligation and is treated as a debt obligation for
United States federal income tax purposes, which (except with respect to a Delayed Draw Term Loan or a
Revolving Credit Facility) is fully funded;
(b) is not a Defaulted Obligation or a Credit Risk Obligation;
(c) (i) has a Moody's Rating and a Standard & Poor's Rating (and such Standard & Poor's Rating does not
include the subscript "p," "pi," "q," "r" or "t" without Rating Confirmation from Standard & Poor's) or (ii) is
fully and unconditionally guaranteed as to the timely payment of principal and interest by the U.S. government
or any agency or instrumentality thereof the obligations of which thereunder are backed by the full faith and
credit of the United States of America;
(d) has a Moody's Rating not below "Caa1" and a Standard & Poor's Rating not below "CCC+";
(e) has a stated amortization schedule or maturity date or mandatory redemption date;
(f) is eligible under the instrument or agreement pursuant to which it was issued or created to be
purchased by the Issuer and pledged to the Trustee;
(g) is an obligation of a borrower, issuer or obligor principally located in (x) the United States, The
Netherlands, the United Kingdom, Germany, Ireland, Sweden, Switzerland, Austria, Belgium, Denmark,
Finland, France, Liechtenstein, Luxembourg, Norway, Spain, Greece, Italy or Portugal, (y) a country that is
referred to in the definition of Permitted Non-U.S. Obligor or (z) any other country that has (i) a Moody's
foreign currency rating of at least "Aa2" and (ii) a Standard & Poor's foreign issuer credit rating of at least
"AA";
(h) is not subject to an Offer that is not (i) a Permitted Offer or (ii) an exchange offer (including, without
limitation, an A/B Exchange) in which a security that is not registered under the Securities Act is exchanged for
a security that has substantially identical terms (except for transfer restrictions) but is registered under the
Securities Act or a security that would otherwise qualify for purchase under the Portfolio Profile Test, the
Coverage Tests and the Collateral Quality Tests described herein;
(i) if a debt obligation, is Registered;
(j) will not cause the Issuer, the Co-Issuer or the pool of Collateral to be required to register as an
investment company under the 1940 Act;
(k) is not an interest-only security;
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