Common use of Estimation Clause in Contracts

Estimation. 14.1 In the event that the Servicer has not provided any Servicer Report due during a Collection Period (the Determination Period), then the Cash Manager shall be required to estimate the amount of Principal Receipts and Revenue Receipts for such Determination Period based on the Servicer Reports in respect of the three preceding Collection Periods for which all relevant Servicer Reports are available (or, where there are not at least three such Collection Periods, any previous such Collection Periods) in accordance with Schedule 5 (Determinations and Reconciliation), for the purposes of complying with its obligations hereunder. The Cash Manager shall make such estimations on the basis of information available to it at such time and shall not be liable (in the absence of negligence, bad faith and wilful default) for the accuracy of such estimations. 14.2 Upon receipt by the Cash Manager of all Servicer Reports in relation to the Determination Period, the Cash Manager will apply the reconciliation calculations set out in Schedule 5 (Determinations and Reconciliation). 14.3 If a Servicer Report or any other information or data upon which the amounts due under a Swap Transaction could ordinarily be determined has not been provided or is otherwise unavailable, the Cash Manager shall calculate the amounts due under the Fixed Interest Rate Swap in accordance with the terms of the Fixed Interest Rate Swap and, following any such period if such data becomes available, the Cash Manager shall perform any reconciliation calculations required in accordance with the provisions of the Fixed Interest Rate Swap. ASSET SUMMARY (for reporting period) Pool Summary Start of Period End of Period Number Current Balance Issuer Purchases Number Balance Further Advances by Seller Further Advances purchased by Issuer

Estimation. 14.1 15.1 In the event that the Servicer has not provided any Servicer Report due during a Collection Period (the Determination Period), then the Cash Manager shall be required to estimate the amount of Principal Receipts and Revenue Receipts for such Determination Period based on the Servicer Reports in respect of the three preceding Collection Periods for which all relevant Servicer Reports are available (or, where there are not at least three such Collection Periods, any previous such Collection Periods) in accordance with Schedule 5 (Determinations and Reconciliation), for the purposes of complying with its obligations hereunder. The Cash Manager shall make such estimations on the basis of information available to it at such time and shall not be liable (in the absence of negligence, bad faith and wilful default) for the accuracy of such estimations. 14.2 15.2 Upon receipt by the Cash Manager of all Servicer Reports in relation to the Determination Period, the Cash Manager will apply the reconciliation calculations set out in Schedule 5 (Determinations and Reconciliation). 14.3 15.3 If a Servicer Report or any other information or data upon which the amounts due under a Swap Transaction could ordinarily be determined has not been provided or is otherwise unavailable, the Cash Manager shall calculate the amounts due under the Fixed Interest Rate Swap Transaction in accordance with the terms of the Fixed Interest Rate Swap Transaction and, following any such period if such data becomes available, the Cash Manager shall perform any reconciliation calculations required in accordance with the provisions of the Fixed Interest Rate SwapSwap Transaction. ASSET SUMMARY SCHEDULE 4 AUTHORISED SIGNATORIES‌ Name Specimen Signature Set forth on following page Set forth on following page SCHEDULE 5 DETERMINATIONS AND RECONCILIATION‌ 1. Determination of Revenue Receipts and Principal Receipts (a) determine the Interest Determination Ratio by reference to the three most recent Collection Periods in respect of which all relevant Servicer Reports are available (or, where there are not at least three such previous Collection Periods, any previous such Collection Periods); (b) calculate the Revenue Receipts for reporting periodsuch Determination Period as the product of (i) Pool Summary Start the Interest Determination Ratio and (ii) the Calculated Revenue Receipts; and (c) calculate the Principal Receipts for such Determination Period as the product of Period End of Period Number Current Balance Issuer Purchases Number Balance Further Advances by Seller Further Advances purchased by Issuer(i) 1 minus the Interest Determination Ratio and (ii) the Calculated Principal Receipts).

Estimation. 14.1 In the event that the Servicer has not provided any Servicer Report due during a Collection Period (the Determination Period), then the Cash Manager shall be required to estimate the amount of Principal Receipts and Revenue Receipts for such Determination Period based on the Servicer Reports in respect of the three preceding Collection Periods for which all relevant Servicer Reports are available (or, where there are not at least three such Collection Periods, any previous such Collection Periods) in accordance with Schedule 5 (Determinations and Reconciliation), for the purposes of complying with its obligations hereunder. The Cash Manager shall make such estimations on the basis of information available to it at such time and shall not be liable (in the absence of negligence, bad faith and wilful default) for the accuracy of such estimations. 14.2 Upon receipt by the Cash Manager of all Servicer Reports in relation to the Determination Period, the Cash Manager will apply the reconciliation calculations set out in Schedule 5 (Determinations and Reconciliation). 14.3 If a Servicer Report or any other information or data upon which the amounts due under a Swap Transaction could ordinarily be determined has not been provided or is otherwise unavailable, the Cash Manager shall calculate the amounts due under the Fixed Interest Rate Swap in accordance with the terms of the Fixed Interest Rate Swap and, following any such period if such data becomes available, the Cash Manager shall perform any reconciliation calculations required in accordance with the provisions of the Fixed Interest Rate Swap. ASSET SUMMARY (for reporting period) Pool Summary Start of Period End of Period Number Current Balance Issuer Purchases Number Balance BalanceStart of Period Further Advances by Seller SellerEnd of Period Further Advances purchased by Issuer Mortgage CollectionsScheduled Principal: Seller Repurchases Number BalanceUnscheduled Principal: Breach of Loan Warranties or Eligibility CriteriaInterest: Insufficient Funds to fund Further Advance Breach of Asset Conditions - Further Advances Breach of Asset Conditions - Product Switches Breach of Asset Conditions - Underpayment Options Redeemed Credit Balances Period End stats WA Seasoning (months): WA remaining term (years): WA pre-swap yield: General Reserve at Period End General Reserve Required Amount: General Reserve Fund: General Reserve Status: Fully Funded LOSSES/REPOSSESSIONS Properties in Possession Aggregate Current No. of Properties in No. Accounts in Balance Possession Period Value in Period Cumulative Totals Brought Forwards N/A N/A N/A Repossessed Sold Relinquished to Borrower Losses Carried Forwards N/A N/A N/A Average time from possession to sale (No. of Days) PERFORMANCE RATIOS Pool CPRs (annualised) Reporting Period Latest 3 months Issuance AssumptionConstant Prepayment Rate N/APrincipal Payment RateConstant Default Rate N/A ISSUANCE DETAILS Issuer: Brass No. 4 plc Class A Notes Class Z VFN ISIN XS1120849754 N/AStock Exchange Listing Ireland N/AOriginal Ratings (Fitch/Xxxxx'x) AAA(sf)/Aaa(sf) NRStep-Up Date N/AFinal Maturity DateCurrency GBP GBP Reference Rate 1M GBP LIBOR Relevant Margin Interest Payment Date Day Count Convention Actual/Actual Coupon Reference Rate Current Coupon Previous Factor Current Factor Current Previous Original Principal Amount Outstanding Subordination Reserve Fund Total Credit Enhancement Latest Distribution Total 1M GBP LIBOR Actual/Actual Current Previous Original Total Principal Payment Interest Payment Excess Spread N/A SWAP DETAILS Interest Rate Swap Provider: Accrual start Accrual end Payment date Libor fixing date Libor fixing Notional Amount Rate payable Rate receivable CASHFLOWS (at last distribution) Ledgers Calculation Date Following distribution on last Interest Payment Date Closing Date Principal Ledger Balance Revenue Ledger Balance General Reserve Required Amount General Reserve Fund Class A Principal Deficiency Ledger Balance Class Z Principal Deficiency Ledger Balance Liquidity Reserve Fund Required Amount Liquidity Reserve Fund Issuer Profit Ledger Balance Revenue Receipts Principal Receipts (a) Interest ERC payments (b) Enforcement recoveries (c) Post-enforcement recoveries (a) Repayments (b) Enforcement recoveries (c) Insurance proceeds (d)

Estimation. 14.1 15.1 In the event that the Servicer has not provided any Servicer Report due during a Collection Period (the Determination Period), then the Cash Manager shall be required to estimate the amount of Principal Receipts and Revenue Receipts for such Determination Period based on the Servicer Reports in respect of the three preceding Collection Periods for which all relevant Servicer Reports are available (or, where there are not at least three such Collection Periods, any previous such Collection Periods) in accordance with Schedule 5 (Determinations and Reconciliation), for the purposes of complying with its obligations hereunder. The Cash Manager shall make such estimations on the basis of information available to it at such time and shall not be liable (in the absence of negligence, bad faith and wilful default) for the accuracy of such estimations. 14.2 15.2 Upon receipt by the Cash Manager of all Servicer Reports in relation to the Determination Period, the Cash Manager will apply the reconciliation calculations set out in Schedule 5 (Determinations and Reconciliation). 14.3 15.3 If a Servicer Report or any other information or data upon which the amounts due under a Swap Transaction could ordinarily be determined has not been provided or is otherwise unavailable, the Cash Manager shall calculate the amounts due under the Fixed Interest Rate Swap in accordance with the terms of the Fixed Interest Rate Swap and, following any such period if such data becomes available, the Cash Manager shall perform any reconciliation calculations required in accordance with the provisions of the Fixed Interest Rate Swap. ASSET SUMMARY SCHEDULE 4 AUTHORISED SIGNATORIES‌ Name Specimen Signature Set forth on following page Set forth on following page SCHEDULE 5 DETERMINATIONS AND RECONCILIATION‌ 1. Determination of Revenue Receipts and Principal Receipts (a) determine the Interest Determination Ratio by reference to the three most recent Collection Periods in respect of which all relevant Servicer Reports are available (or, where there are not at least three such previous Collection Periods, any previous such Collection Periods); (b) calculate the Revenue Receipts for reporting periodsuch Determination Period as the product of (i) Pool Summary Start the Interest Determination Ratio and (ii) the Calculated Revenue Receipts; and (c) calculate the Principal Receipts for such Determination Period as the product of Period End of Period Number Current Balance Issuer Purchases Number Balance Further Advances by Seller Further Advances purchased by Issuer(i) 1 minus the Interest Determination Ratio and (ii) the Calculated Principal Receipts).