PROMISE-A-2000-1 plc - KfW

"Principal Payment" means, in respect of any Reference Obligation, an amount equal to the
principal amount of such Reference Obligation or part thereof repaid on or prior to its stated
maturity date.
"Programmes" means the loan programmes established by KfW, Landesanstalt für
Aufbaufinanzierung, Deutsche Ausgleichsbank, HVB and VuW for loans to German small and
medium sized enterprises (Mittelstand).
"Ratio of Aggregate Collateral Recoveries" means the proportion of recoveries effected on or
prior to the last day of the Determination Period in respect of the Aggregate Collateral held in
respect of the relevant Reference Entity, relative to the amount of such Aggregate Collateral as
at the date on which the Credit Event occurred.
“Ratio of Dedicated Collateral Recoveries” means the proportion of recoveries effected on or
prior to the last day of the Determination Period in respect of the Dedicated Collateral held in
respect of the relevant Reference Obligation, relative to the amount of such Dedicated Collateral
as at the date on which the Credit Event occurred. If the Ratio of Dedicated Collateral
Recoveries is less than one, then to the extent there is Aggregate Collateral available for
application in respect of that Reference Obligation, such Aggreagate Collateral (to the extent
permitted by the terms on which it is held and law) shall then be applied towards that Reference
Loan. If the Ratio of Dedicated Collateral Recoveries is greater than one, then (to the extent
permitted by the terms on which it is held and law) any excess Dedicated Collateral shall be
allocated to the Aggregate Collateral.
"Ratio of Uncollateralised Recoveries" means, in respect of an Impaired Reference Obligation,
the proportion of recoveries (excluding, for the avoidance of doubt, any recoveries effected in
respect of Dedicated Collateral and Aggregate Collateral) effected on or prior to the last day of
the Determination Period in respect of the amount by which the Other Obligations and Reference
Obligations (including that Impaired Reference Obligation) for which Aggregate Collateral and
Dedicated Collateral was held exceeded that Aggregate Collateral and Dedicated Collateral,
relative to the amount of such excess as at the date on which the Credit Event occurred.
"Reference Entity" means each entity specified as such in the Reference Portfolio List.
"Reference Obligation Notional Amount" means, in respect of a Reference Obligation, the
amount specified as such in the most recent Reference Portfolio List, as of the Cut-off Date, as
reduced from time to time to reflect any Principal Payments by a Reference Entity in respect of
such Reference Obligation.
"Reference Obligations" means the Eligible Obligations specified in the Reference Portfolio
List from time to time (which expression where the context so admits, includes the Adjusted
Reference Obligations).
"Reference Portfolio" means the Eligible Obligations specified in the Reference Portfolio from
time to time, provided that the Reference Obligation Notional Amounts of such Reference
Obligations, as reduced from time to time to reflect any prepayment or repayment of principal of
such Reference Obligations, shall not at any time exceed the amount equal to the Reference
Portfolio Notional Amount at that time.
"Reference Portfolio List" means a registry maintained by the Servicer that will contain, as to
each separate entry in respect of a Reference Obligation:
(a) the name of the Reference Entity;
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