ROCKALL CLO B.V. - Irish Stock Exchange

thereon) and Administrative Expenses), including any fees and
expenses payable to any Representative under any Permitted Debt
Document. Any such amounts not payable in Euro shall be converted
into Euro at the then-current spot rate (after taking into account the
effect of any Currency Hedging Transaction with respect thereto).
“Net Asset Value”
“Net Exposure Component”
“Net Value”
“Non-Cash Pay Instrument”
“Non-Credit Risk Security”
“Non-Excluded Issuer Investments”
“Over-Collateralisation Tests”
means, as of any date of determination, an amount equal to the
Market Value of all Issuer Investments as of such date minus the
principal amount outstanding of all of the Issuer’s Debt other than the
Class E Subordinated Notes as of such date plus the positive or
negative value of the Net Accrual Amount as of such date.
means, with respect to each Interest Rate Hedging Transaction and
Currency Hedging Transaction, an amount equal to the current
unwind value to the Issuer on such date of determination of such
Interest Rate Hedging Transaction or Currency Hedging Transaction;
provided that the “Net Exposure Component” of each Interest Rate
Hedging Transaction and each Currency Hedging Transaction that
has a positive Net Exposure Component and a counterparty that is
not an Eligible Counterparty shall be zero.
Means in relation to the Unhedged Excess Amount in respect of all
non-Euro Issuer Investments denominated in a particular currency,
the Market Value of such Issuer Investments less the par amount of
associated liabilities in respect of such Issuer Investments subject to
a minimum of zero.
means, unless otherwise determined pursuant to Rating Agency
Confirmation a Loan or a High Yield Security that (a) does not
provide for the payment of cash interest or provides for the total
deferral of interest until the final maturity thereof, (b) is a debt security
that has an initial rate of interest on the date of purchase or
acquisition thereof of less than 5 per cent. per annum and provides
for an increase in the rate of interest payable in respect thereof at any
time after the date it was purchased or acquired (other than any
increase resulting from (i) a change in a generally recognised floating
rate interest rate index, (ii) a change in the weighted average interest
rate on underlying collateral in the case of Securities the interest rate
on which is based on such weighted average interest rate or (iii) a
change in an interest rate spread or margin or the financial
performance of the issuer resulting from an announced change in the
rating of the issuer’s debt obligations) or (c) is a debt security that
provides for the partial deferral of interest until the final maturity
thereof and which has cash interest payable without deferral at a rate
per annum less than (x) with respect to Issuer Investments bearing
interest at a fixed rate, 5 per cent. per annum and (y) with respect to
Issuer Investments bearing interest at a floating rate, EURIBOR plus
1 per cent. per annum. For the purposes of clause (b) of this
definition, if the interest rate is increased to 5 per cent. or more per
annum, then at the time of the increase of such interest rate, the
Security will cease to be a “Non-Cash Pay Instrument”.
means a security with respect to which an institutional money
manager would determine its value primarily by reference to factors
other than (a) the coupon (or the coupon as adjusted for any
purchase discount or premium) in relation to prevailing market yields
and/or (b) the credit worthiness of the issuing entity and/or (c) the
adequacy of the underlying financial assets supporting such security
to ensure the repayment of the security according to its terms (which
adequacy may be measured by a credit analysis of the likelihood of
the obligors under such underlying assets to pay according to the
terms of such underlying assets and/or an analysis of the sufficiency
of the income streams thereon to meet the payment terms of the
security).
means, at any date, all Issuer Investments in the Collateral on such
date other than Excluded Issuer Investments.
means the Senior Over-Collateralisation Test, the Class B Notes
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