ROCKALL CLO B.V. - Irish Stock Exchange

“High Yield Security”
“Interest Rate Hedging Transaction”
“Interest Rate/Currency Hedging
Advance Amount”
“Interest Rate/Currency Hedging Net
Exposure”
“Issuer Investments”
“Loans”
“Maximum Unfunded Amount”
“Mezzanine Loan”
means a debt security which, on acquisition by the Issuer, is a high
yielding debt security, as determined by the Collateral Manager,
excluding any debt security which is secured directly on, or
represents the ownership of, a pool of consumer receivables, auto
loans, auto leases, equipment leases, home or commercial
mortgages, or similar assets, including, without limitation,
collateralised bond obligations, collateralised loan obligations or any
similar security.
means any Swap Transaction entered into by the Issuer with an
Eligible Counterparty intended to protect the Issuer against adverse
changes in the floating rate of interest payable on all or a portion of
any Debt or other obligation of the Issuer or its subsidiaries or on any
Issuer Investment or intended to protect against the fluctuation of the
market value of certain Collateral from the fluctuation of interest
rates.
means as of any date of determination, (i) if the Interest
Rate/Currency Hedging Net Exposure is greater than zero, 95 per
cent. of the Interest Rate/Currency Hedging Net Exposure and (ii) if
the Interest Rate/Currency Hedging Net Exposure is less than zero,
105 per cent. of the Interest Rate/Currency Hedging Net Exposure for
the purposes of calculating the S&P Advance Amount and 100 per
cent. of the Interest Rate/Currency Hedging Net Exposure for the
purposes of calculating the Moody’s Advance Amount.
means, as of any date, the sum of the Net Exposure Components for
all Interest Rate Hedging Transactions and Currency Hedging
Transactions entered into by the Issuer, determined as of such date
(in each case) by the applicable Eligible Counterparty and may, for
the purposes of this calculation, be less than zero.
means all Cash, Cash Equivalents, Government Securities, Loans,
Securities and Hedging and Short-Sale Transactions owned or
entered into by the Issuer (excluding for the avoidance of doubt any
amounts held by the Issuer representing the proceeds of the sale of a
Permitted Short-Sale Obligation as a part of a Permitted Short-Sale
Transaction). Issuer Investments which the Issuer has contracted to
purchase shall not be deemed to be owned by the Issuer until
settlement of such purchase and Issuer Investments which the Issuer
has contracted to sell shall not cease to be Issuer Investments for the
purposes of the Security and Intercreditor Deed until settlement of
such sale.
means Senior Secured Loans, Mezzanine Loans, Second Lien
Loans, Senior Unsecured Loans and/or any other direct purchases
of, assignments of, participations in and other interests in (a) any
bank loan to which a bank is party or (b) any loan made by an
investment bank, investment fund or other financial institution;
provided that such loan under this clause (b) is similar to those
typically made, syndicated, purchased or participated in by a
commercial bank or institutional loan investor in the ordinary course
of business.
means as of any date of determination with respect to any Loan,
Participation or delayed-draw Security, the maximum amount of Cash
that the Issuer is committed to advance in respect thereof undrawn
as of such date of determination.
means a second secured loan obligation (including any such loan
obligation with attached warrants and including any such obligation
which is evidenced by an issue of notes), as determined by the
Collateral Manager.
“Moody’s Advance Amount” means, as of any date of determination under any
Over-Collateralisation Test, the sum of (i) the sum for all
Non-Excluded Issuer Investments (other than Synthetic Purchase
Contracts, Short-Sale Contracts and Defensive Hedge Transactions)
of the product of (1) the Market Value of such Non-Excluded Issuer
Investments multiplied by (2) the Moody’s Advance Rate for the
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