awn by Moody's (unless a Majority of each Class of Senior Notes has agreed to waive this clause (vii)). The Issuer may. at any time during or after the Reinvestment Period, upon the direction of the Collateral Manager. direct the Trustee to pay from available amounts on deposit in the Collection Account any amount req

g whether Unscheduled Principal Payments and Sale Proceeds of Credit Risk Obligations are available for reinvestment on any Distribution Date after the Reinvestment Period, Principal Proceeds of all other types will be deemed to be distributed under the Priority of Principal Proceeds prior to the distribution of Unsche

e. the actual default rate and the actual level of recoveries on defaulted obligations. the level of reinvestment of certain types of proceeds after the Reinvestment Period. prepayments and the amount and frequency of any sales of Collateral Obligations by the Investment Manager and the ability of the Investment Manage

n the case of an Event of Default resulting from bankruptcy or insolvency, such an acceleration will occur automatically) and upon such declaration. the Reinvestment Period will terminate. Any declaration of acceleration may under certain circumstances be rescinded by the Controlling Party. 55 CONFIDENTIAL - PURSUANT

of the Issuer and the Notes. In addition loss of a specified key manager may result in the removal of the Collateral Manager, and/or termination of the Reinvestment Period, at the election of certain Securityholders. Furthermore, the Collateral Manager has informed the Issuer that these investment professionals are al

e. the actual default rate and the actual level of recoveries on defaulted obligations. the level of reinvestment of certain types of proceeds after the Reinvestment Period. prepayments and the amount and frequency of any sales of Collateral Obligations by the Investment Manager and the ability of the Investment Manage