ROCKALL CLO B.V. - Irish Stock Exchange

"Synthetic Collateral" means any collateral which shall be in the form of cash or securities which is
required to be delivered by the Issuer as security for its obligations to any Synthetic Counterparty under
any Synthetic Security pursuant to the terms thereof provided that such Synthetic Collateral may not
consist of any securities that are Dutch Ineligible Securities. References to the price payable upon the
acquisition of or entry into a Synthetic Security acquired or entered into by the Issuer on an unfunded
basis shall be deemed to be the aggregate price of Synthetic Collateral required to be delivered by the
Issuer to the applicable Synthetic Counterparty.
"Synthetic Counterparty" means any Secured Hedging Counterparty required to make or receive
payments on a Synthetic Security.
"Synthetic Security" means either a Synthetic Purchase Contract or a credit-linked note in respect of
which each supporting credit default swap is a Form-Approved Swap or is in a form which has been the
subject of a Rating Agency Confirmation.
"TARGET System" means the Trans-European Automated Real-Time Gross Settlement Express
Transfer System (or, if such system ceases to be operative, such other system (if any) determined by
the Trustee to be a suitable replacement).
"Transaction Creditors" means each of the Secured Creditors, the Directors and any other Person
(other than any creditor of the Issuer who is not bound by any limited recourse and non-petition
provisions vis-à-vis the Issuer) to whom the Issuer owes any obligations from time to time.
"Transaction Default" means any condition or event which constitutes a Transaction Event of Default
or which with the giving of notice or lapse of time or both would, unless cured or waived, become a
Transaction Event of Default.
"Transaction Documents" means the Trust Deed, the Security Documents, all Outstanding Notes,
each Note Placement Agency Agreement, the Agency Agreement, each Collateral Acquisition
Agreement, the Collateral Management Agreement, the Collateral Administration Agreement, the
Management Agreement, any Secured Hedging Agreements, the VF Notes, each VF Instrument and
any document supplemental thereto or issued in connection therewith together with any other
documents specified as such in Condition 20 (Specific Conditions) with respect to any Notes (each as
amended, replaced or supplemented from time to time).
"Transaction Event of Default" means an Event of Default or any event of default under and as
defined in each or any Transaction Document.
"Trigger Event" means, with respect to any Issuer Indebtedness, a Transaction Event of Default (other
than a Payment Default) under the Transaction Documents (including any such Transaction Event of
Default relating to a cross-default) which would give the Noteholders and/or the VF Noteholders the right
to accelerate such Issuer Indebtedness prior to its stated maturity.
"Trust Instrument" means the Relevant Trust Instrument or any other trust instrument pursuant to
which VF Notes or Notes are constituted from time to time, as the context may require.
"Trustee Fees and Expenses" means the fees, costs, claims, indemnities, charges, disbursements,
liabilities and expenses and all other amounts payable by the Issuer to the Trustee, the Security Trustee
and any receiver appointed by it pursuant to the Trust Deed or any other Transaction Document from
time to time under or pursuant to the Trust Deed or any other Transaction Document plus any applicable
VAT required to be paid by the Issuer in respect of the foregoing.
"Under-Collateralisation Cure Methodologies" has the meaning given thereto in Condition 5(c)(ii)
(Over-Collateralisation Failure and Collateralisation Shortfall Dates).
"Under-Collateralisation Cure Timeline" means the timelines specified in each of the
Under-Collateralisation Cure Methodologies curing the existence of a Collateralisation Shortfall Amount.
"Under-Collateralisation Event" means the failure by the Issuer following a Collateralisation Shortfall
Date to eliminate the Collateralisation Shortfall Amount that gave rise to such Collateralisation Shortfall
Date by employing one of the Under-Collateralisation Cure Methodologies (or any combination of the
same) within the applicable Under-Collateralisation Cure Timeline.
"Unquoted Issuer Investment Valuation" has the meaning given thereto in Condition 5(b)
(Over-Collateralisation Testing and Reporting).
"Unused Class B Notes Commitments" means the aggregate of available Commitments in respect of
the Class B Notes which are applicable for the time being.
"Unused Class C Notes Commitments" means the aggregate of available Commitments in respect of
the Class C Notes which are applicable for the time being.
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