UNDER
ANY OF THE TRANSACTION DOCUMENTS AND (2) THE TERMINATION OR CHANGE OF ANY
PARTIES TO THE TRANSACTION DOCUMENTS, IN EACH CASE, FOR WHICH THE TRUSTEE HAS
RECEIVED PRIOR WRITTEN NOTICE PURSUANT TO THE TERMS OF THE TRANSACTION DOCUMENT
AND (B) EACH MONTHLY REPORT IN EXCEL SPREADSHEET FORMAT; AND
(IX)
ASSIST THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS IN THE PREPARATION
OF THOSE REPORTS REQUIRED UNDER SECTION 10.11 HEREOF BY PROVIDING ACCESS TO THE
INFORMATION CONTAINED IN THE DATABASE.
(C)
THE TRUSTEE, ON BEHALF OF THE ISSUER, SHALL COMPILE AND PROVIDE OR MAKE
AVAILABLE ON ITS WEBSITE INITIALLY LOCATED AT TO EACH RATING
AGENCY, THE CLASS A-2 NOTE INSURER, THE COLLATERAL MANAGER, EACH HEDGE
COUNTERPARTY, THE INITIAL PURCHASERS, FOR SO LONG AS ANY NOTES ARE LISTED ON THE
IRISH STOCK EXCHANGE, AND UPON REQUEST THEREFOR, ANY HOLDER OF A NOTE SHOWN ON
THE NOTES REGISTER, ANY BENEFICIAL OWNER OF A NOTE WHO PROVIDES TO THE TRUSTEE A
CERTIFICATION IN THE FORM OF EXHIBIT M HERETO, ANY PREFERRED SHAREHOLDER SHOWN
ON THE REGISTER MAINTAINED BY THE SHARE REGISTRAR, NOT LATER THAN THE FIFTH
(5TH) BUSINESS DAY AFTER THE FIRST (1ST) DAY OF EACH MONTH (OTHER THAN A MONTH
IN WHICH A PAYMENT DATE OCCURS) COMMENCING IN NOVEMBER 2007 (OR SOLELY IN THE
CASE OF THE FIRST MONTHLY REPORT, THE FIFTH (5TH) BUSINESS DAY), DETERMINED AS
OF THE LAST BUSINESS DAY OF THE PRECEDING MONTH, A MONTHLY REPORT (THE "MONTHLY
REPORT").
THE MONTHLY REPORT SHALL CONTAIN THE FOLLOWING INFORMATION AND
INSTRUCTIONS WITH RESPECT TO THE PLEDGED OBLIGATIONS INCLUDED IN THE ASSETS
BASED IN PART ON INFORMATION PROVIDED BY THE COLLATERAL MANAGER:
(I)
(1) THE AGGREGATE PRINCIPAL BALANCE OF ALL COLLATERAL DEBT SECURITIES,
TOGETHER WITH A CALCULATION, IN REASONABLE DETAIL, OF THE SUM OF (A) THE
AGGREGATE PRINCIPAL BALANCE OF ALL COLLATERAL DEBT SECURITIES (OTHER THAN
DEFAULTED SECURITIES AND WRITTEN DOWN SECURITIES) PLUS (B) THE PRINCIPAL BALANCE
OF EACH PLEDGED OBLIGATION WHICH IS WRITTEN DOWN SECURITY AND (C) THE PRINCIPAL
BALANCE OF EACH PLEDGED OBLIGATION WHICH IS A DEFAULTED SECURITY;
207
(II)
THE BALANCE OF ALL ELIGIBLE INVESTMENTS AND CASH IN EACH OF THE
INTEREST COLLECTION ACCOUNT, THE PRINCIPAL COLLECTION ACCOUNT, THE DELAYED
FUNDING OBLIGATIONS ACCOUNT AND THE EXPENSE ACCOUNT;
(III)
THE NATURE, SOURCE AND AMOUNT OF ANY PROCEEDS IN THE COLLECTION
ACCOUNTS, INCLUDING INTEREST PROCEEDS, PRINCIPAL PROCEEDS, UNSCHEDULED PRINCIPAL
PAYMENTS AND SALE PROCEEDS, RECEIVED SINCE THE DATE OF DETERMINATION OF THE LAST
MONTHLY REPORT;
(IV)
WITH RESPECT TO EACH COLLATERAL DEBT SECURITY AND EACH ELIGIBLE
INVESTMENT THAT IS PART OF THE ASSETS, ITS PRINCIPAL BALANCE, ANNUAL INTEREST
RATE, AVERAGE LIFE, ISSUER, MOODY'S RATING, S&P RATING AND FITCH RATING;
(V)
THE IDENTITY OF EACH COLLATERAL DEBT SECURITY THAT WAS SOLD OR DISPOSED
OF PURSUANT TO SECTION 12.1 (INDICATING WHETHER SUCH COLLATERAL DEBT SECURITY IS
A DEFAULTED SECURITY, CREDIT RISK SECURITY OR OTHERWISE (IN EACH CASE, AS
REPORTED IN WRITING TO THE ISSUER BY THE COLLATERAL MANAGER) AND WHETHER SUCH
COLLATERAL DEBT SECURITY WAS SOLD PURSUANT TO SECTION 12.1(A)(I) OR (II)) OR
GRANTED TO