ROCKALL CLO B.V. - Irish Stock Exchange

(c)
(d)
(iii)
Ledger
If:
(xx)
(yy)
(zz)
the Collateral Manager acts pursuant to Condition 3(b)(ii)(x)(B) in respect of
interest on Class E-1a Preferred Subordinated Notes,
the Holders of Class E-1a Preferred Subordinated Notes act pursuant to
Condition 3(b)(ii)(y), or
on any Payment Date the amount available for payment to the Holders of
Class E-1a Preferred Subordinated Notes under paragraph (q)(i)(A) of the
Intercreditor Priority of Payments is less than the amount of interest then
payable to the Holders of Class E-1a Preferred Subordinated Notes,
then the amount by which:
(aa)
(bb)
the aggregate of (A) the sums so reinvested under (xx) or (yy) and (B) those
paid to the Class E-1a Preferred Subordinated Noteholders, or
the sums then available for payment under (zz)
is less than the amount of interest then payable to the Holders of the Class E-1a
Preferred Subordinated Notes, shall be added to the Ledger and applied in
accordance with this Condition 3 and the Intercreditor Priority of Payments.
The outstanding balance on the Ledger shall bear interest at the Rate of Interest
applicable to the Class E-1a Preferred Subordinated Notes.
Payment of Amounts
On each Payment Date, the Issuer shall (a) in relation to any Class A Notes, pay or procure the
payment of the Interest Payment Amount payable to Class A Noteholders on such date,
(b) subject to Condition 3(d) (Restricted Payments) in relation to any Class B Notes, pay or
procure the payment of the Interest Payment Amount payable to Class B Noteholders on such
date, (c) subject to Condition 3(d) (Restricted Payments) in relation to any Class C Notes, pay
or procure the payment of the Interest Payment Amount payable to Class C Noteholders on
such date, (d) subject to Condition 3(d) (Restricted Payments) in relation to any Class D Notes,
pay or procure the payment of the Interest Payment Amount payable to Class D Noteholders
on such date and (e) subject to Condition 3(d) (Restricted Payments) in relation to the Class E
Subordinated Notes, at the direction of the Collateral Manager (acting in its sole discretion),
pay or procure the payment of the Interest Payment Amount payable to Class E Subordinated
Noteholders on such date and any Additional Interest then available for disbursement to the
Class E Subordinated Noteholders in accordance with the priorities set out in paragraph (q) of
the Intercreditor Priority of Payments.
Restricted Payments
Restrictions on Repayment or Purchases of Class B Notes While any Class A Notes or VF
Notes are Outstanding or there are any Outstanding Issuer Swap Termination Payments, the
Issuer may only make any purchase or repayment in respect of any Class B Notes if (i) the
same is permitted by the Restricted Payment Provisos and (ii) on the date each such purchase
or repayment is made and immediately after giving effect thereto, no amount remains due and
payable in respect of any Class A Notes, VF Notes or Outstanding Issuer Swap Termination
Payments.
Restrictions on Repayment or Purchases of Class C Notes While (x) any Class A Notes or VF
Notes are Outstanding or there are any Outstanding Issuer Swap Termination Payments or
(y) any Class B Notes are Outstanding, the Issuer may only make any purchase or repayment
in respect of any Class C Notes if (i) the same is permitted by the Restricted Payment Provisos
and (ii) on the date each such purchase or repayment is made and immediately after giving
effect thereto, no amount remains due and payable in respect of any Class A Notes, VF Notes
or Outstanding Issuer Swap Termination Payments or Class B Notes.
Restrictions on Repayment or Purchases of Class D Notes While (w) any Class A Notes or VF
Notes are Outstanding or there are any Outstanding Issuer Swap Termination Payments,
(x) any Class B Notes are Outstanding or (y) any Class C Notes are Outstanding, the Issuer
may only make any purchase or repayment in respect of any Class D Notes if (i) the same is
permitted by the Restricted Payment Provisos and (ii) on the date each such purchase or
repayment is made and immediately after giving effect thereto, no amount remains due and
payable in respect of any Class A Notes, VF Notes, Outstanding Issuer Swap Termination
Payments, Class B Notes or Class C Notes.
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