PROMISE-A-2000-1 plc - KfW

Class F Notes, third, the Class E Notes, fourth, the Class D Notes, fifth, the Class C Notes, sixth,
the Class B Notes and seventh, the Class A Notes (the "Reverse Order of Seniority"), in each
case, pari passu on a pro rata basis within any Class of Notes, until the Outstanding Principal
Amount of each such Class of Notes is reduced to zero.
6.2 The following definitions are in alphabetical order, they cross-refer to each other and together
they form the further provisions for the reduction of the Outstanding Principal Amount of the
Notes as described in Condition 6.1.
"Addition" means the increase by the Servicer of the Reference Obligation Notional Amount of
any Reference Obligation in accordance with the terms of the Credit Swap Agreement.
"Adjusted Impaired Reference Obligation" means, an Impaired Reference Obligation in
respect of which some or all of the principal payable at its maturity, repayment or due date (or
dates) has been unconditionally reduced, cancelled, voided or discharged with the agreement or
approval of the Servicer, other than in accordance with the applicable terms of such Reference
Obligation in effect on the date on which it became an Impaired Reference Obligation (each such
reduction, cancellation, voiding or discharge a “Diminution”). For the avoidance of doubt,
unless the context otherwise so admits, the term “Impaired Reference Obligations” will include
Adjusted Impaired Reference Obligation
"Adjusted Reference Obligation" means, in respect of a Reference Obligation which, before
the occurrence of a Credit Event, has experienced a restructuring or rescheduling of its principal,
interest payments or other terms (whether as to quantum or timing of payments) (an
“Adjustment”) in accordance with the Procedures, the resulting Obligation in respect of that
restructured or rescheduled Reference Obligation. Each Adjusted Reference Obligation shall:
(a) replace the Reference Obligation from which it was restructured or rescheduled in the
Reference Portfolio List (whereupon it shall be deemed to be a “Reference
Obligation”); and
(b) save as modified by the Adjustment, bear the same terms as the Reference Obligation
which it replaced.
An Adjusted Reference Obligation need not comply with the Portfolio Concentration Tests or
Eligibility Criteria, and an Adjustment shall not be treated as a Removal.
"Aggregate Collateral" means, in respect of a Reference Entity, the total amount of collateral
(excluding any Dedicated Collateral) held in respect of the aggregate of the Other Obligations
and Reference Obligations of that Reference Entity.
"Bankruptcy" means a Reference Entity:
(a) is dissolved (other than pursuant to a consolidation, amalgamation or merger);
(b) becomes insolvent or is unable to pay its debts or fails or admits in writing its inability
generally to pay its debts as they become due;
(c) makes a general assignment, arrangement or composition with or for the benefit of its
creditors;
(d) institutes or has instituted against it proceedings seeking a judgment of insolvency or
bankruptcy or any other relief under any bankruptcy or insolvency law or other similar
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