Clear Lake CLO, Ltd. Clear Lake CLO, Corp. U.S. $343.000.000 Class A-1 Floating Rate Senior Notes Due 2020 U.S. S21.500,000 Class A-2 Floating Rate Senior Notes Due 20

Clear Lake CLO, Ltd. Clear Lake CLO, Corp. U.S. $343.000.000 Class A-1 Floating Rate Senior Notes Due 2020 U.S. S21.500,000 Class A-2 Floating Rate Senior Notes Due 20

INDENTURE, dated as of January 18, 2007, among Clear Lake CLO, Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the "Issuer"), Clear Lake CLO, Corp., a corporation

reement — Form of Important Notice to DTC Participants — Form of Report Notice vi EFTA00596132 INDENTURE, dated as of January 18, 2007, among Clear Lake CLO, Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the "Issuer"), Clear Lake CLO, Corp., a corporation