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ction with the offering of the Securities rather than to make investments in Collateral Obligations. As a result. the aggregate principal balance of the Collateral Obligations will be less than the initial Aggregate Outstanding Amount of the Securities. In addition, during the lifetime of the transaction, except as descri
ities. Furthermore, if additional securities arc issued after the Closing Date. such securities may not be issued in the same proportion as existing Classes of Notes. which may reduce the Issuer's level of investment leverage. This would likely adversely affect returns on the Subordinated Securities. In addition
cant adverse effect on the Issuer, the Collateral and the Securities. Below Investment Grade Debt Obligations. It is expected that primarily all of the Collateral Obligations will be rated below investment grade. Such debt obligations have greater credit and liquidity risk than investment grade obligations. The lower rat
bligor or industry sector will represent a higher percentage of the Aggregate Outstanding Amount of the Subordinated Securities (or any other junior Classes of Notes) than it represents in relation to the aggregate principal amount of the total portfolio, there can be no assurance that the diversification guideli
ction with the offering of the Securities rather than to make investments in Collateral Obligations. As a result. the aggregate principal balance of the Collateral Obligations will be less than the initial Aggregate Outstanding Amount of the Securities. In addition, during the lifetime of the transaction, except as descri
ities. Furthermore, if additional securities arc issued after the Closing Date. such securities may not be issued in the same proportion as existing Classes of Notes. which may reduce the Issuer's level of investment leverage. This would likely adversely affect returns on the Subordinated Securities. In addition
cant adverse effect on the Issuer, the Collateral and the Securities. Below Investment Grade Debt Obligations. It is expected that primarily all of the Collateral Obligations will be rated below investment grade. Such debt obligations have greater credit and liquidity risk than investment grade obligations. The lower rat
bligor or industry sector will represent a higher percentage of the Aggregate Outstanding Amount of the Subordinated Securities (or any other junior Classes of Notes) than it represents in relation to the aggregate principal amount of the total portfolio, there can be no assurance that the diversification guideli
Entities connected to both the Collateral Obligations and Classes of Notes
Interest Proceeds
ORGANIZATIONHigher Ranking Classes of Rated Notes
ORGANIZATIONExcess Interest
ORGANIZATIONthe Floating Rate Notes
ORGANIZATIONHedge Counterparty
PERSONDesignated Proceeds
ORGANIZATIONInvestment Grade Debt Obligations
ORGANIZATIONParticipations
ORGANIZATIONHedge Agitement
PERSONthe Investment Management Fees
ORGANIZATION