ROCKALL CLO B.V. - Irish Stock Exchange
ROCKALL CLO B.V. - Irish Stock Exchange
ROCKALL CLO B.V. - Irish Stock Exchange
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
until all outstanding Senior Indebtedness and Class B Notes that are due and payable<br />
on such Redemption Date under any Transaction Document, has been paid in full, the<br />
Class D Notes may not be redeemed pursuant to this Condition 7(c), nor may other<br />
payments of principal be made on the Class D Notes, until all outstanding Senior<br />
Indebtedness, Class B Notes and Class C Notes that are due and payable on such<br />
Redemption Date under any Transaction Document, has been paid in full.<br />
Each Rated Note called for redemption must be surrendered to the Registrar in order<br />
to receive the relevant Redemption Price. The Class A Notes may not be optionally<br />
redeemed at any time if, after giving effect to such redemption, (i) a Default or an<br />
Event of Default shall have occurred and be continuing under the Relevant Trust<br />
Instrument with respect to the Class A Notes or a default or an event of default shall<br />
have occurred and be continuing under any Transaction Document or (ii) the Issuer<br />
would not be in compliance with the Senior Over-Collateralisation Test. The Class B<br />
Notes may not be optionally redeemed at any time if, after giving effect to such<br />
redemption, (i) a Default or an Event of Default shall have occurred and be continuing<br />
under the Relevant Trust Instrument with respect to the Class A Notes or Class B<br />
Notes or a default or an event of default shall have occurred and be continuing under<br />
any Transaction Document or (ii) the Issuer would not be in compliance with the<br />
Senior Over-Collateralisation Test or Class B Notes Over-Collateralisation Test. The<br />
Class C Notes may not be optionally redeemed at any time if, after giving effect to<br />
such redemption, (i) a Default or an Event of Default shall have occurred and be<br />
continuing under the Relevant Trust Instrument with respect to the Class A Notes,<br />
Class B Notes or Class C Notes or a default or an event of default shall have occurred<br />
and be continuing under any Transaction Document or (ii) the Issuer would not be in<br />
compliance with the Senior Over-Collateralisation Test, Class B Notes<br />
Over-Collateralisation Test or Class C Notes Over-Collateralisation Test. The Class D<br />
Notes may not be optionally redeemed at any time if, after giving effect to such<br />
redemption, (i) a Default or an Event of Default shall have occurred and be continuing<br />
under the Relevant Trust Instrument with respect to the Class A Notes, Class B<br />
Notes, Class C Notes or Class D Notes or a default or an event of default shall have<br />
occurred and be continuing under any Transaction Document or (ii) the Issuer would<br />
not be in compliance with the Senior Over-Collateralisation Test, Class B Notes<br />
Over-Collateralisation Test, Class C Notes Over-Collateralisation Test or Class D<br />
Notes Over-Collateralisation Test.<br />
(ii)<br />
(iii)<br />
(iv)<br />
(v)<br />
Applicability of Condition. Redemptions of any Rated Notes at the election of the<br />
Issuer, as permitted by any provision of the relevant Trust Instrument, shall be made<br />
in accordance with such provision and this Condition 7(c).<br />
Election to Redeem Notice to Trustee. The election of the Issuer to redeem any<br />
Rated Notes outstanding at any time pursuant to Condition 7(c)(i) hereof shall be<br />
evidenced by a certificate signed by a Director of the Issuer delivered to the Trustee<br />
not less than five Business Days prior to the date when sending of notice under<br />
Condition 7(c)(v) hereof is required; provided, however, that in case of any redemption<br />
at the election of the Issuer of less than all the Outstanding Notes, the Issuer shall, at<br />
least five Business Days prior to the sending of notice under Condition 7(c)(v) hereof,<br />
notify the Trustee of such Redemption Date and of the Principal Amount Outstanding<br />
of such Outstanding Rated Notes to be redeemed; provided further, that any such<br />
redemption thereof shall be in an Authorised Denomination only. If any amount of<br />
Outstanding Rated Notes remains following such redemption, the Issuer shall ensure<br />
that such amount shall be equal to an Authorised Denomination. The Issuer may<br />
revoke such redemption by notifying the Trustee at least four Business Days prior to<br />
the mailing of such notice.<br />
Outstanding Rated Notes to be Redeemed Pro Rata. If less than all of the<br />
Outstanding Rated Notes of a Class are to be redeemed, the Outstanding Rated<br />
Notes of such Class shall be redeemed pro rata in accordance with the Principal<br />
Amount Outstanding thereof. For all purposes of the Trust Deed, unless the context<br />
otherwise requires, all provisions relating to the redemption of Outstanding Rated<br />
Notes shall relate, in the case of any Outstanding Rated Notes redeemed or to be<br />
redeemed only in part, to the portion of the principal amount of such Outstanding<br />
Rated Notes which has been or is to be redeemed.<br />
Notice of Redemption. An irrevocable written notice of redemption shall be given by<br />
first-class mail, postage prepaid, mailed not less than 30 days, nor more than 60 days<br />
prior to the Redemption Date, to each Noteholder or by any other method acceptable<br />
to such Noteholder and published in accordance with Condition 16 (Notices).<br />
- 76 -
Change language