FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

(x)
(xi)
(xii)
(xiii)
(xiv)
(xv)
tenth, in or towards satisfaction, pro rata and pari passu according to the respective amounts
due in respect of any principal payable in respect of the Class C Notes;
eleventh, in or towards satisfaction, pro rata and pari passu according to the respective
amounts due in respect of any interest payable (including any deferred interest payable) in
respect of the Class D Notes;
twelfth, in or towards satisfaction, pro rata and pari passu according to the respective amounts
due in respect of any principal payable in respect of the Class D Notes;
thirteenth, in or towards satisfaction, pro rata and pari passu according to the respective
amounts due in respect of any interest payable (including any deferred interest payable) in
respect of the Class E Notes;
fourteenth, in or towards satisfaction, pro rata and pari passu according to the respective
amounts due in respect of any principal payable in respect of the Class E Notes;
fifteenth, in or towards satisfaction of any amounts payable to the Liquidity Facility Provider
under the Liquidity Facility Agreement in respect of Liquidity Subordinated Amounts;
(xvi) sixteenth, in or towards satisfaction of any amounts payable in respect of amounts due to the
Hedging Providers under the Hedging Agreements in respect of Hedging Subordinated
Amounts;
(xvii) seventeenth, in or towards satisfaction of any amounts due to the Borrowers under the
Commercial Mortgage Loan Agreements; and
(xviii) eighteenth, on the Issuer Liquidation Date only, in or towards repayment of the Units, and in
or towards payment of the liquidation surplus (if any), in each case to the Unitholders.
4. INTEREST
Period of Accrual
(a) Each Note bears interest on its Principal Amount Outstanding from (and including) the
Closing Date. Each Note (or in the case of the redemption of part only of a Note, that part only
of that Note) shall cease to bear interest from and including the date on which it is redeemed
in full.
Interest Payment Dates and Interest Periods
(b) Interest on each Note is, subject to Condition 4(f) (Interest Deferral and Accrual), payable
quarterly in arrear on each Interest Payment Date in respect of the Interest Period ending on
(but excluding) that Interest Payment Date.
Rate of Interest
(c) (i) The rate of interest payable from time to time in respect of each Class of Notes (the
‘‘Rate of Interest’’) will be determined by the Management Company in accordance with
this Condition 4 (Interest).
(ii) The Rate of Interest in respect of each Class of Notes for each Interest Period shall be the
aggregate of:
the Relevant Margin; and
EURIBOR.
(iii) For the purposes of these Conditions, the ‘‘Relevant Margin’’ shall be:
for the Class A Notes, 0.23 per cent. per annum;
for the Class B Notes, 0.29 per cent. per annum;
for the Class C Notes, 0.33 per cent. per annum;
for the Class D Notes, 0.52 per cent. per annum; and
for the Class E Notes, 0.75 per cent. per annum.
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