ROCKALL CLO B.V. - Irish Stock Exchange

"Ledger" means the ledger maintained by the Collateral Administrator for the purposes of recording
those amounts mentioned in Condition 3(b)(iii).
"Liquidation Direction" means a notice delivered by the Controlling Class Agent to the Security
Trustee following the occurrence of an Event of Default which is continuing (taking into account any
related grace periods), instructing the Security Trustee to proceed to enforce the Collateral or any part of
it.
"Liquidity Limitation Procedure" means the procedure described in Condition 7(b)(iv) (Class E
Subordinated Note Optional Redemption Limitation Procedure).
"Loan Commitment" means a commitment of any Holder of Issuer Indebtedness to make loans under
and pursuant to the terms of the Transaction Documents.
"Long-Stop Date" means the thirtieth day following a Collateralisation Shortfall Date provided that if
such date is not a Business Day, it shall be the deemed to be the next Business Day following such
thirtieth day.
“Management Fee” has the meaning given thereto in the Collateral Management Agreement.
"Majority Senior Holder" means any Person holding in aggregate more than 50 per cent. of the Senior
Indebtedness.
"Managing Directors" means Mrs M. Chr. Van der Sluijs-Plantz, Mrs. Th. F.C. Wijnen and Mr H.P.C.
Mourits, or such other person(s) who may be appointed as Managing Director(s) of the Issuer from time
to time.
"Market Valuation Manual" means, at any time, the manual of the same name in the form appearing at
Schedule 8 to the Master Trust Deed amended from time to time in accordance with the provisions of
the Master Trust Deed and the Security and Intercreditor Deed (including for the avoidance of doubt (x)
by the Rating Agencies in respect of any Advance Rates contained or to be contained therein on the
date of further issuance of any Rated Notes and (y) at the direction of the Trustee to modify references
to the applicable Specified Notes.
"Material Agreements" means (a) the Agency Agreement, (b) the Collateral Management Agreement,
(c) each Note Placement Agency Agreement, (d) any Collateral Acquisition Agreements (e) the Master
Trust Deed, (f) each Trust Instrument and (g) the Collateral Administration Agreement in each case in
the form initially entered into by the parties thereto.
"Maturity Date" means, as the context may require, the Class E Subordinated Note Maturity Date
and/or, with respect to any Notes which are not Class E Subordinated Notes, the Specified Maturity
Date.
"Maximum Funding Exposure" means, as of any date of determination, the sum of the Credit Default
Protection Contract Exposure, the Permitted Short-Sale Exposure and the Short-Sale TRS Contract
Exposure.
"Member State" means any member state of the European Union.
"Minimum Denomination" means, unless otherwise specified in Condition 20 (Specific Conditions):
(a) in the case of the Regulation S Notes which are Rated Notes, €500,000;
(b)
in the case of the Regulation S Notes which are Class E Subordinated Notes, €100,000; and
(c) in the case of all Rule 144A Notes, €250,000.
"Modified Following Business Day Convention" means the convention for adjusting any relevant date
if it would otherwise fall on a day that is not a Business Day, which provides that the relevant date shall
be the following day that is a Business Day unless that day falls in the next calendar month, in which
case that date will be the first preceding day that is a Business Day.
"Moody's" means Moody's Investors Service Inc. and any successor to its rating business.
"New Holders" has the meaning given thereto in Condition 17(a)(ix) (Further Issues).
"Non-Call Period" means, with respect to any Class E Subordinated Notes unless otherwise specified
in Condition 20 (Specific Conditions) with respect to such Notes, the period from and including the
Closing Date therefor, up to, but excluding, the Payment Date falling in 15 June 2007.
"Non-Permitted Holder" has the meaning given thereto in Condition 2(h) (Forced Transfer of
Rule 144A Notes).
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