Tabreed 06 Prospectus - London Stock Exchange

‘‘Total Equity’’ means the share capital of the Tabreed Group for the time being issued
and paid up or credited as paid up and the aggregate of the amounts standing to the
credit of the consolidated capital and revenue reserves (including share premium account,
statutory reserves and profit and loss account but excluding hedging reserves) of the
Tabreed Group.
7 Periodic Distributions
7.1 Periodic Distribution Dates
Subject as set out in Condition 4.2 (Application of Proceeds from Trust Assets) and Condition 9
(Dissolution of Trust), the Principal Paying Agent shall distribute to holders of the Certificates
pro rata, out of amounts transferred to the Transaction Account, a distribution in relation to
the Certificates on each Periodic Distribution Date equal to the applicable Periodic Distribution
Amount.
‘‘LIBOR’’ means, for each Return Accumulation Period, the London inter-bank offered rate for
six-month US dollar deposits determined in accordance with Condition 7.2 (LIBOR
Determination).
‘‘Margin’’ means 1.25 per cent. per annum.
‘‘Periodic Distribution Amount’’ means for each Periodic Distribution Date, an amount equal to
the product of (i) LIBOR for the Return Accumulation Period immediately preceding such
Periodic Distribution Date plus the Margin, (ii) US$200,000,000 and (iii) the actual number of
days in such Return Accumulation Period divided by 360.
‘‘Periodic Distribution Date’’ means the 20th day of January and July or if any such day is not
a Business Day the following Business Day unless it would thereby fall into the next calendar
month, in which event such day shall be the immediately preceding Business Day, commencing
on the Periodic Distribution Date falling in January 2007 to and including the Periodic
Distribution Date falling in July 2011.
The period from and including the Closing Date but excluding the first Periodic Distribution
Date and each successive period from and including a Periodic Distribution Date to but
excluding the next succeeding Periodic Distribution Date is called a ‘‘Return Accumulation
Period’’.
In these Conditions, except where otherwise defined, ‘‘Business Day’’ means a day on which
commercial banks and foreign exchange markets settle payments and are open for general
business in Dubai, London and New York.
7.2 LIBOR Determination
LIBOR for each Return Accumulation Period shall be determined by or on behalf of the Issuer
in accordance with the following provisions:
(a) on each LIBOR Determination Date, the Calculation Agent, on behalf of the Issuer, will
determine the Screen Rate at approximately 11.00 a.m. (London time) on such LIBOR
Determination Date and such Screen Rate shall be the value of LIBOR for the
(b)
forthcoming Return Accumulation Period;
if the Screen Rate is unavailable, the Calculation Agent shall request the principal London
office of each Reference Bank to provide it with the rate at which deposits in US dollars
are offered by it to prime banks in the London inter-bank market for a period of six
months at approximately 11.00 a.m. (London time) on such LIBOR Determination Date
and for a Representative Amount and, so long as at least two of the Reference Banks
provide such rates, the arithmetic mean of such rates (rounded if necessary to the fifth
decimal place, with 0.000005 rounded upwards) as calculated by the Calculation Agent
shall be the value of LIBOR for the forthcoming Return Accumulation Period;
(c) if fewer than two of the Reference Banks provide rates, the value of LIBOR for the
forthcoming Return Accumulation Period shall be the arithmetic mean of the rates quoted
by such major banks in London as may be selected by the Calculation Agent at
approximately 11.00 a.m. (London time) on the first day of such Return Accumulation
Period for loans in US dollars to leading European banks for a period of six months
commencing on the first day of such Return Accumulation Period and for a Representative
Amount;
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