n Date, the amount of Principal Proceeds designated by the Investment Manager (the "Special Redemption Amount") will be applied to pay principal of the Rated Notes in accordance with the Priority of Payments (each. a "Special Redemption"). Use of Proceeds The net proceeds on the Closing Date will be used by

Subordinated Securities, and to pay certain expenses (including the Subordinated Investment Management Fee) must instead be used to pay principal on the Rated Notes, to the extent necessary to cause the Coverage Tests to be met. The Collateral' Quality Tests. The "Collateral Quality Tests" will be used primarily

Distribution Date, a Special Redemption will occur and Principal Proceeds equal to the Special Redemption Amount will be applied to pay principal of the Rated Notes in accordance with the Priority of Principal Proceeds. Interest Payments On each Distribution Date, subject to the Priority of Post-Acceleration P

(xiii) If any Class D Coverage Test is not satisfied as of the related Determination Date, to the payment of principal on the Rated Notes in accordance with the Principal Payment Sequence until each such test is satisfied as of such Determination Date. (xiv) In the event that (A) an

tions (or Eligible Investments pending purchase of Collateral Obligations). (vi) After the Reinvestment Period, to the payment of (A) principal of the Rated Notes in accordance with the Principal Payment Sequence: then (B) the items described under clauses (xvi) through under the Priority of Interest Proceeds

ay be deferred perhaps for a substantial period of time. In addition, under certain circumstances. Interest Proceeds may be used to pay principal of the Rated Notes or to purchase additional Collateral Obligations. Furthermore. if the Issuer discharges its debt at a price less than its adjusted issue price (whi

rawal in the rating of the Securities, if any such listed Securities are affected thereby. Section 10.10. Tax Matters. (a) The Issuer shall treat the Rated Notes as debt and intends to treat the Subordinated Notes as equity for U.S. federal income tax purposes, except as otherwise required by applicable law.

(iv) On any Rated Notes Redemption Date, to the payment of (A) the Redemption Price for the Rated Notes in accordance with the Principal Payment Sequence; then (B) the items described under clauses (xvi) through (xviii) under the Priority of Interest

est on the Class D Notes. (xiii) If any Class D Coverage Test is not satisfied as of the related Determination Date, to the payment of principal on the Rated Notes in accordance with the Principal Payment Sequence until each such test is satisfied as of such Determination Date. (xiv) In the event that (A) an

(iv) On any Rated Notes Redemption Date, to the payment of (A) the Redemption Price for the Rated Notes in accordance with the Principal Payment Sequence; then (B) the items described under clauses (xvi) through (xviii) under the Priority of Interest

Subordinated Securities, and to pay certain expenses (including the Subordinated Investment Management Fee) must instead be used to pay principal on the Rated Notes, to the extent necessary to cause the Coverage Tests to be met. The Collateral' Quality Tests. The "Collateral Quality Tests" will be used primarily

tions (or Eligible Investments pending purchase of Collateral Obligations). (vi) After the Reinvestment Period, to the payment of (A) principal of the Rated Notes in accordance with the Principal Payment Sequence: then (B) the items described under clauses (xvi) through under the Priority of Interest Proceeds

ay be deferred perhaps for a substantial period of time. In addition, under certain circumstances. Interest Proceeds may be used to pay principal of the Rated Notes or to purchase additional Collateral Obligations. Furthermore. if the Issuer discharges its debt at a price less than its adjusted issue price (whi