Exhibit 4.1.2
Dated 23 May, 2007
GRANITE FINANCE FUNDING 2 LIMITED
as Funding 2
GRANITE MASTER ISSUER PLC
as Master Issuer
THE BANK OF NEW YORK
as Funding 2 Security Trustee
CITIBANK, N.A.
as Agent Bank
-----------------------------------------
LOAN TRANCHE SUPPLEMENT
-----------------------------------------
SIDLEY AUSTIN
-------------|
SIDLEY |
THIS LOAN TRANCHE SUPPLEMENT is dated 23 May, 2007 between:
(1) GRANITE FINANCE FUNDING 2 LIMITED (registered number 5249387) a private
limited liability company incorporated under the laws of England and
Wales whose registered office is at Xxxxx Xxxxx, 000 Xxxx Xxxxxx, Xxxxxx
XX0X 0XX as Funding 2;
(2) GRANITE MASTER ISSUER PLC (registered number 5250668) a public limited
company incorporated under the laws of England and Wales whose
registered office is at Xxxxx Xxxxx, 000 Xxxx Xxxxxx, Xxxxxx XX0X 0XX as
Master Issuer;
(3) THE BANK OF NEW YORK, acting through its office at 00xx Xxxxx, Xxx
Xxxxxx Xxxxxx, Xxxxxx X00 0XX in its capacity as the Funding 2 Security
Trustee; and
(4) CITIBANK, N.A., acting through its office at Citigroup Centre, Canada
Square, Xxxxxx Xxxxx, Xxxxxx X00 0XX in its capacity as the Agent Bank.
This document constitutes the Loan Tranche Supplement relating to the Loan
Tranches described herein. Terms used herein shall be deemed to be defined as
such for the purposes of the Global Intercompany Loan Agreement entered into
between the parties hereto on 19 January, 2005. This Loan Tranche Supplement
contains the final terms of the Loan Tranches identified and described herein,
is supplemental to and must be read in conjunction with the Global
Intercompany Loan Agreement.
Loan Tranche: The Series 2007-2 Class 1A1 Notes will fund the Series 2007-2
AAA (Class 1A1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)533,816,790
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through
Trigger Event, each Monthly Payment Date specified
herein of each year.
6. Final Repayment Date: The Loan Payment Date falling in April 2032.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar
month subject to the Business Day Convention
specified for the Series 2007-2 Class 1A1 Notes in the
applicable Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each
year up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month Sterling LIBOR
and two-month Sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation
to this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.0027 per cent. per annum
2
11. Step-Up Date: The Note Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.1446 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 533,816,790
October 2007 425,690,030
January 2008 321,868,381
April 2008 222,180,434
July 2008 126,461,604
October 2008 34,553,858
January 2009 0
April 2009 0
July 2009 0
October 2009 0
January 2010 0
April 2010 0
July 2010 0
October 2010 0
3
January 2011 0
April 2011 0
July 2011 0
October 2011 0
January 2012 0
April 2012 0
July 2012 0
October 2012 0
January 2013 0
April 2013 0
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
4
Loan Tranche: The Series 2007-2 Class 1A2 Notes will fund the Series 2007-2
AAA (Class 1A2) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)222,480,832
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in April 2032.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 1A2 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month Sterling LIBOR
and two-month Sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.00578 per cent. per annum
5
11. Step-Up Date: The Note Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.1616 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 222,480,832
October 2007 177,416,436
January 2008 134,146,297
April 2008 92,598,976
July 2008 52,705,878
October 2008 14,401,141
January 2009 0
April 2009 0
July 2009 0
October 2009 0
January 2010 0
April 2010 0
July 2010 0
October 2010 0
6
January 2011 0
April 2011 0
July 2011 0
October 2011 0
January 2012 0
April 2012 0
July 2012 0
October 2012 0
January 2013 0
April 2013 0
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
7
Loan Tranche: The Series 2007-2 Class 1A3 Notes will fund the Series 2007-2
AAA (Class 1A3) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)150,000,000
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in April 2032.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 1A3 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month Sterling LIBOR
and two-month Sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.0400 per cent. per annum
8
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.0800 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 150,000,000
October 2007 119,616,890
January 2008 90,443,497
April 2008 62,431,654
July 2008 35,535,114
October 2008 9,709,471
January 2009 0
April 2009 0
July 2009 0
October 2009 0
January 2010 0
April 2010 0
July 2010 0
October 2010 0
9
January 2011 0
April 2011 0
July 2011 0
October 2011 0
January 2012 0
April 2012 0
July 2012 0
October 2012 0
January 2013 0
April 2013 0
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
10
Loan Tranche: The Series 2007-2 Class 2A1 Notes will fund the Series 2007-2
AAA (Class 2A1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)516,190,764
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 2A1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and (b) Loan Payment Dates including the Final
Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.0254 per cent. per annum
11
11. Step-Up Date: The Note Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.2008 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 516,190,764
October 2007 516,190,764
January 2008 516,190,764
April 2008 516,190,764
July 2008 516,190,764
October 2008 516,190,764
January 2009 490,871,921
April 2009 347,204,711
July 2009 209,257,670
October 2009 76,803,047
January 2010 0
April 2010 0
July 2010 0
October 2010 0
12
January 2011 0
April 2011 0
July 2011 0
October 2011 0
January 2012 0
April 2012 0
July 2012 0
October 2012 0
January 2013 0
April 2013 0
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
13
Loan Tranche: The Series 2007-2 Class 2A2 Notes will fund the Series 2007-2
AAA (Class 2A2) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)229,210,599
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 2A2 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
14
10. Relevant Margin: 0.0571 per cent. per annum
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.2642 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 229,210,599
October 2007 229,210,599
January 2008 229,210,599
April 2008 229,210,599
July 2008 229,210,599
October 2008 229,210,599
January 2009 229,210,599
April 2009 229,210,599
July 2009 229,210,599
October 2009 229,210,599
January 2010 229,210,599
April 2010 229,210,599
July 2010 0
15
October 2010 0
January 2011 0
April 2011 0
July 2011 0
October 2011 0
January 2012 0
April 2012 0
July 2012 0
October 2012 0
January 2013 0
April 2013 0
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
16
Loan Tranche: The Series 2007-2 Class 3A1 Notes will fund the Series 2007-2
AAA (Class 3A1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)553,960,820
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3A1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.0861 per cent. per annum
17
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.3222 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 553,960,820
October 2007 553,960,820
January 2008 553,960,820
April 2008 553,960,820
July 2008 553,960,820
October 2008 553,960,820
January 2009 553,960,820
April 2009 553,960,820
July 2009 553,960,820
October 2009 553,960,820
January 2010 553,960,820
April 2010 553,960,820
July 2010 553,960,820
October 2010 527,420,986
18
January 2011 478,984,242
April 2011 432,476,027
July 2011 387,819,555
October 2011 344,941,099
January 2012 303,769,867
April 2012 267,512,721
July 2012 0
October 2012 0
January 2013 0
April 2013 0
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
19
Loan Tranche: The Series 2007-2 Class 3A2 Notes will fund the Series 2007-2
AAA (Class 3A2) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)684,556,407
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3A2 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.08483 per cent. per annum
20
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.3197 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Repayment Not Applicable
Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 684,556,407
October 2007 684,556,407
January 2008 684,556,407
April 2008 684,556,407
July 2008 684,556,407
October 2008 684,556,407
January 2009 684,556,407
April 2009 684,556,407
July 2009 684,556,407
October 2009 684,556,407
January 2010 684,556,407
April 2010 684,556,407
July 2010 684,556,407
October 2010 651,759,840
21
January 2011 591,904,193
April 2011 534,431,722
July 2011 479,247,542
October 2011 426,260,543
January 2012 375,383,243
April 2012 330,578,519
July 2012 0
October 2012 0
January 2013 0
April 2013 0
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
22
Loan Tranche: The Series 2007-2 Class 4A1 Notes will fund the Series 2007-2
AAA (Class 4A1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)503,600,745
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 4A1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.0918 per cent. per annum
23
11. Step-Up Date: The Note Payment Date occurring in April 2013.
12. Relevant Margin following Step-Up Date: 0.2418 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 503,600,745
October 2007 503,600,745
January 2008 503,600,745
April 2008 503,600,745
July 2008 503,600,745
October 2008 503,600,745
January 2009 503,600,745
April 2009 503,600,745
July 2009 503,600,745
October 2009 503,600,745
January 2010 503,600,745
April 2010 503,600,745
July 2010 503,600,745
October 2010 503,600,745
24
January 2011 503,600,745
April 2011 503,600,745
July 2011 503,600,745
October 2011 503,600,745
January 2012 503,600,745
April 2012 503,600,745
July 2012 466,546,429
October 2012 430,967,446
January 2013 396,805,055
April 2013 365,350,685
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
25
Loan Tranche: The Series 2007-2 Class 4A2 Notes will fund the Series 2007-2
AAA (Class 4A2) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AAA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)650,000,000
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 4A2 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.1100 per cent. per annum
26
11. Step-Up Date: The Note Payment Date occurring in April 2013.
12. Relevant Margin following Step-Up Date: 0.2200 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 650,000,000
October 2007 650,000,000
January 2008 650,000,000
April 2008 650,000,000
July 2008 650,000,000
October 2008 650,000,000
January 2009 650,000,000
April 2009 650,000,000
July 2009 650,000,000
October 2009 650,000,000
January 2010 650,000,000
April 2010 650,000,000
July 2010 650,000,000
October 2010 650,000,000
27
January 2011 650,000,000
April 2011 650,000,000
July 2011 650,000,000
October 2011 650,000,000
January 2012 650,000,000
April 2012 650,000,000
July 2012 602,173,809
October 2012 556,251,838
January 2013 512,158,268
April 2013 471,559,956
July 2013 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
28
Loan Tranche: The Series 2007-2 Class 1B1 Notes will fund the Series 0000-0 XX
(Class 1B1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)33,489,450
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 1B1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.0714 per cent. per annum
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.2928 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring in:
(GBP)
July 2007 33,489,450
October 2007 33,489,450
January 2008 33,489,450
April 2008 33,489,450
July 2008 33,489,450
October 2008 33,489,450
January 2009 0
April 2009 0
July 2009 0
October 2009 0
January 2010 0
April 2010 0
July 2010 0
October 2010 0
2
January 2011 0
April 2011 0
July 2011 0
October 2011 0
January 2012 0
April 2012 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
3
Loan Tranche: The Series 2007-2 Class 2B1 Notes will fund the Series 0000-0 XX
(Class 2B1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)26,942,640
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 2B1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.1221 per cent. per annum
4
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.3942 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
July 2007 26,942,640
October 2007 26,942,640
January 2008 26,942,640
April 2008 26,942,640
July 2008 26,942,640
October 2008 26,942,640
January 2009 26,942,640
April 2009 26,942,640
July 2009 26,942,640
October 2009 26,942,640
January 2010 26,942,640
April 2010 26,942,640
July 2010 12,632,236
October 2010 0
January 2011 0
April 2011 0
5
July 2011 0
October 2011 0
January 2012 0
April 2012 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
6
Loan Tranche: The Series 2007-2 Class 3B1 Notes will fund the Series 0000-0 XX
(Class 3B1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)17,626,026
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3B1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.1677 per cent. per annum
7
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.4854 per cent. per annum
13. Redemption/Payment Basis: Pass-Through
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Not Applicable
Repayment Loan Tranche:
18. Details relating to Pass-through Applicable
Loan Tranches:
The Series 2007-2 Class 3B1 Notes will become due on
the Note Payment Date falling in April 2012 and each
Note Payment Date thereafter.
19. Other terms and special conditions: Not Applicable
8
Loan Tranche: The Series 2007-2 Class 3B2 Notes will fund the Series 0000-0 XX
(Class 3B2) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)68,455,641
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3B2 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.15100 per cent. per annum
9
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.4520 per cent. per annum
13. Redemption/Payment Basis: Pass-Through
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17,. Details relating to Controlled Not Applicable
Repayment Loan Tranche:
18. Details relating to Pass-through Applicable
Loan Tranches:
The Series 2007-2 Class 3B2 Notes will become due on
the Note Payment Date falling in April 2012 and each
Note Payment Date thereafter.
19. Other terms and special conditions: Not Applicable
10
Loan Tranche: The Series 2007-2 Class 3B3 Notes will fund the Series 0000-0 XX
(Class 3B3) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: AA
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)53,000,000
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3B3 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
11
10. Relevant Margin: 0.1600 per cent. per annum
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.3200 per cent. per annum
13. Redemption/Payment Basis: Pass-Through
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Not Applicable
Repayment Loan Tranche:
18. Details relating to Pass-through Applicable
Loan Tranches:
The Series 2007-2 Class 3B3 Notes will become due on
the Note Payment Date falling in April 2012 and each
Note Payment Date thereafter.
19. Other terms and special conditions: Not Applicable
12
Loan Tranche: The Series 2007-2 Class 1M1 Notes will fund the Series 2007-2 A
(Class 1M1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: A
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)32,230,448
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 1M1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.1622 per cent. per annum
13
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.4744 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
July 2007 32,230,448
October 2007 32,230,448
January 2008 32,230,448
April 2008 32,230,448
July 2008 32,230,448
October 2008 32,230,448
January 2009 0
April 2009 0
July 2009 0
October 2009 0
January 2010 0
April 2010 0
July 2010 0
October 2010 0
January 2011 0
April 2011 0
14
July 2011 0
October 2011 0
January 2012 0
April 2012 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
15
Loan Tranche: The Series 2007-2 Class 2M1 Notes will fund the Series 2007-2 A
(Class 2M1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: A
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)26,187,239
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 2M1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.2541 per cent. per annum
16
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.6582 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
July 2007 26,187,239
October 2007 26,187,239
January 2008 26,187,239
April 2008 26,187,239
July 2008 26,187,239
October 2008 26,187,239
January 2009 26,187,239
April 2009 26,187,239
July 2009 26,187,239
October 2009 26,187,239
January 2010 26,187,239
April 2010 26,187,239
July 2010 12,278,062
October 2010 0
January 2011 0
April 2011 0
17
July 2011 0
October 2011 0
January 2012 0
April 2012 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
18
Loan Tranche: The Series 2007-2 Class 3M2 Notes will fund the Series 2007-2 A
(Class 3M2) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: A
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)110,898,138
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3M2 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.28933 per cent. per annum
19
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.7287 per cent. per annum
13. Redemption/Payment Basis: Pass-Through
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Not Applicable
Repayment Loan Tranche:
18. Details relating to Pass-through Applicable
Loan Tranches:
The Series 2007-2 Class 3M2 Notes will become due on
the Note Payment Date falling in April 2012 and each
Note Payment Date thereafter.
19. Other terms and special conditions: Not Applicable
20
Loan Tranche: The Series 2007-2 Class 3M3 Notes will fund the Series 2007-2 A
(Class 3M3) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: A
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)20,000,000
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3M3 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.2900 per cent. per annum
21
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.5800 per cent. per annum
13. Redemption/Payment Basis: Pass-Through
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Not Applicable
Repayment Loan Tranche:
18. Details relating to Pass-through Applicable
Loan Tranches:
The Series 2007-2 Class 3M3 Notes will become due on
the Note Payment Date falling in April 2012 and each
Note Payment Date thereafter.
19. Other terms and special conditions: Not Applicable
22
Loan Tranche: The Series 2007-2 Class 2C1 Notes will fund the Series 2007-2
BBB (Class 2C1) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: BBB
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)25,180,037
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 2C1 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.4796 per cent. per annum
23
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 1.1092 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
July 2007 25,180,037
October 2007 25,180,037
January 2008 25,180,037
April 2008 25,180,037
July 2008 25,180,037
October 2008 25,180,037
January 2009 25,180,037
April 2009 25,180,037
July 2009 25,180,037
October 2009 25,180,037
January 2010 25,180,037
April 2010 25,180,037
July 2010 11,805,828
October 2010 0
January 2011 0
April 2011 0
24
July 2011 0
October 2011 0
January 2012 0
April 2012 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
25
Loan Tranche: The Series 2007-2 Class 2C2 Notes will fund the Series 2007-2
BBB (Class 2C2) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: BBB
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)35,596,933
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 2C2 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.44389 per cent. per annum
11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 1.0378 per cent. per annum
13. Redemption/Payment Basis: Controlled Amortisation
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Applicable
Repayment Loan Tranche:
July 2007 35,596,933
October 2007 35,596,933
January 2008 35,596,933
April 2008 35,596,933
July 2008 35,596,933
October 2008 35,596,933
January 2009 35,596,933
April 2009 35,596,933
July 2009 35,596,933
October 2009 35,596,933
January 2010 35,596,933
April 2010 35,596,933
July 2010 16,689,860
October 2010 0
January 2011 0
April 2011 0
2
July 2011 0
October 2011 0
January 2012 0
April 2012 0
18. Details relating to Pass-through Not Applicable
Loan Tranches:
19. Other terms and special conditions: Not Applicable
3
Loan Tranche: The Series 2007-2 Class 3C2 Notes will fund the Series 2007-2
BBB (Class 3C2) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: BBB
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)57,845,016
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3C2 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.51590 per cent. per annum
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11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 1.1818 per cent. per annum
13. Redemption/Payment Basis: Pass-Through
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Repayment Not Applicable
Loan Tranche:
18. Details relating to Pass-through Applicable
Loan Tranches:
The Series 2007-2 Class 3C2 Notes will become due on
the Note Payment Date falling in April 2012 and each
Note Payment Date thereafter.
19. Other terms and special conditions: Not Applicable
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Loan Tranche: The Series 2007-2 Class 3C3 Notes will fund the Series 2007-2
BBB (Class 3C3) Loan Tranche which shall have the following terms:
1. Borrower: Granite Finance Funding 2 Limited
2. Lender: Granite Master Issuer plc
3. (i) Loan Tranche Rating: BBB
(ii) Series Number: Series 2007-2
4. Initial Outstanding Principal Balance: (GBP)60,000,000
5. (i) Closing Date: 23 May, 2007
(ii) Loan Tranche Interest 23 May, 2007
Commencement Date:
(iii) Loan Tranche Interest Reset Dates: The Monthly Payment Date specified herein falling in
January, April, July and October of each year or,
following the earlier to occur of the Step-Up Date in
relation to this Loan Tranche or a Pass-Through Trigger
Event, each Monthly Payment Date specified herein of
each year.
6. Final Repayment Date: The Loan Payment Date falling in December 2054.
7. Payment Dates:
(a) Monthly Payment Dates The date falling on the 17th day of each calendar month
subject to the Business Day Convention specified for
the Series 2007-2 Class 3C3 Notes in the applicable
Final Terms.
(b) Loan Payment Dates Each Monthly Payment Date specified herein in each year
up to and including the Final Repayment Date.
8. Initial Relevant Screen Rate: The linear interpolation of one-month sterling LIBOR
and two-month sterling LIBOR.
9. Loan Reference Rate: LIBOR for three-month sterling deposits or, following
the earlier to occur of the Step-Up Date in relation to
this Loan Tranche or a Pass-Through Trigger Event,
LIBOR for one-month sterling deposits.
10. Relevant Margin: 0.4900 per cent. per annum
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11. Step-Up Date: The Loan Payment Date occurring in April 2012.
12. Relevant Margin following Step-Up Date: 0.9800 per cent. per annum
13. Redemption/Payment Basis: Pass-Through
14. Change of Redemption/Payment Basis: Not Applicable
15. Details relating to Bullet Loan Tranche: Not Applicable
16. Details relating to Scheduled Not Applicable
Repayment Loan Tranche:
17. Details relating to Controlled Not Applicable
Repayment Loan Tranche:
18. Details relating to Pass-through Applicable
Loan Tranches:
The Series 2007-2 Class 3C3 Notes will become due on
the Note Payment Date falling in April 2012 and each
Note Payment Date thereafter.
19. Other terms and special conditions: Not Applicable
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Confirmations:
Funding 2 confirms that:
(a) no Funding 2 Intercompany Loan Event of Default has occurred and is
continuing which has not been waived, or would result from the making of
such Loan Tranche;
(b) the representations and warranties set out in Clause 13 (Representations
and Warranties of Funding 2) are true on and as of the Closing Date
specified in this Loan Tranche Supplement by reference to the facts and
circumstances then existing; and
(c) as of the Closing Date specified in this Loan Tranche Supplement, there
is no debit balance on the Funding 2 Principal Deficiency Ledger.
The Master Issuer confirms that:
(a) no Issuer Event of Default has occurred and is continuing which has not
been waived, or would result from the making of such Loan Tranche;
(b) the aggregate amount of the Loan Tranches to be made on the Closing Date
specified in this Loan Tranche Supplement and any Loan Tranches
outstanding on such Closing Date do not exceed the Total Credit
Commitment.
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EXECUTION PAGE
for Loan Tranche Supplement
as Funding 2
EXECUTED for and on behalf of )
GRANITE FINANCE FUNDING 2 LIMITED )
by )
/s/ Xxx Xxxxxx
Name: Xxx Xxxxxx
as Master Issuer
EXECUTED for and on behalf of )
GRANITE MASTER ISSUER PLC )
by )
/s/ Xxx Xxxxxx
Name: Xxx Xxxxxx
as Funding 2 Security Trustee
EXECUTED for and on behalf of ) /s/ I Bass
THE BANK OF NEW YORK ) WITNESS:
by ) XXXX XXXX
The Bank of New York
/s/ H Xxx One Canada Square
Name: Xxxxx Xxx Xxxxxx X00 0XX
Vice President
The Bank of New York
as Agent Bank
EXECUTED for and on behalf of )
CITIBANK, N.A. )
by )
/s/ G Xxxxxxxx
Name: XXXXXXX XXXXXXXX
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