Mandatory Partial Redemption

Upon and after full redemption of all of the Class A-1 Bonds and Class A-2 Bonds, on each Interest Accrual Date (which is also a Distribution Date), the Issuer shall apply the Class B PIK (Clause 9) Instalment Amount (as defined in the section “Terms and Conditions of the Class B PIK Bonds — Condition 5(B)”) to redeem at par such part of the outstanding principal amount of all Class B PIK Bonds equal to the Class B PIK (Clause 9) Instalment Amount on a pari passu and pro-rata basis (rounded down, if necessary to the nearest US cent).

In addition, on each Interest Accrual Date (which is also a Distribution Date):

(i) the Issuer shall apply the total cash balance available for the redemption of the Class B PIK Bonds under Clause 6 of the Priority of Payments (the “Class B PIK (Clause 6) Instalment Amount”) to redeem at par such part of the outstanding principal amount of all Class B PIK Bonds equal to the Class B PIK (Clause 6) Instalment Amount on a pari passu and pro-rata basis (rounded down, if necessary to the nearest US cent); and

(ii)the Issuer shall apply the total cash balance available for the redemption of the Class B PIK Bonds under Clause 10 of the Priority of Payments (the “Class B PIK (Clause 10) Instalment Amount”), to redeem at par such part of the outstanding principal amount of all Class B PIK Bonds equal to the Class B PIK (Clause 10) Instalment Amount on a pari passu and pro-rata basis (rounded down, if necessary to the nearest US cent).

Upon each partial redemption of the Class B PIK Bonds pursuant to Condition 5(B) of the Class B PIK Bonds (see the section “Terms and Conditions of the Class B PIK Bonds — Condition 5(B)”), the principal amount of the Class B PIK Bonds outstanding shall be reduced by taking into account the amount of such partial redemption.

Upon each partial redemption of the Class B PIK Bonds pursuant to Condition 5(B) of the Class B PIK Bonds (see the section “Terms and Conditions of the Class B PIK Bonds — Condition 5(B)”), the principal amount of the Class B PIK Bonds outstanding shall be reduced by taking into account the amount of such partial redemption. Under Clauses 6 and 10 of the Priority of Payments, the Class B PIK Bonds can be redeemed prior to the redemption of the Class A Bonds once the Reserves Accounts Cap has been met.

Clean-Up Option

After all of the Class A-1 Bonds and Class A-2 Bonds have been redeemed in full, the Issuer shall have the option of redeeming all (but not some only) of the Bonds at their outstanding principal amount (which for the avoidance of doubt includes any unpaid accrued interest which shall be added to, and form part of, the principal amount) upon the earlier of either (i) the Maturity Date or (ii) any day which is on or after the date on which the total outstanding principal amount of the Bonds is or less than US$50 million (the “Clean-Up Option”). The Issuer may exercise the Clean-Up Option by giving not less than eight days’ notice prior to the date fixed for redemption to the Bonds Trustee, the Non-CDP Paying Agent, the Non-CDP Transfer Agent, the Non-CDP Registrar, the Security Trustee and the Bondholders, specifying the date of redemption (the “Clean-Up Date”) and the redemption amount.

Upon the exercise by the Issuer of the Clean-Up Option, the Issuer may, but is not under any obligation to, procure the sale of all or any of the Fund Investments. The Issuer shall not exercise the Clean-Up Option unless the aggregate amount of funds that it expects to receive (i) through additional Equity Investments from the Sponsor, (ii) through the total balance in all Bank Accounts and Custody Accounts as of the Clean-Up Date, and/or (iii) from the sale of the Fund Investments, will be sufficient to fund the aforesaid redemption amount in full.