Exhibit 4.1.2
EXECUTION VERSION
Dated 29 November, 2006
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
WOOLGATE EXCHANGE
00 XXXXXXXXXX XXXXXX
XXXXXX XX0X 0XX
TELEPHONE 000 0000 0000
FACSIMILE 020 7626 7937
THIS LOAN TRANCHE SUPPLEMENT is dated 29 November, 2006 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 2006-4 Class A1 Notes will fund the Series 2006-4 AAA
(Class A1) 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 2006-4
4. Initial Outstanding (GBP)341,028,332
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date each Monthly Payment Date
falling in March, June, September and
December of each year beginning in
December 2006 (or, if such date is
not a London Business Day, the next
following London Business Day), up
to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2030.
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of two-week
sterling LIBOR and one month sterling
LIBOR.
9. Relevant Screen Rate: LIBOR for three-month sterling
deposits.
10. Loan Reference Rate: LIBOR for three-month sterling
deposits.
11. Relevant Margin: 0.0207 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
2
13. Relevant Margin following 0.1914 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
Details relating to Applicable
18. Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 276,435,227
June 2007 225,265,885
September 2007 176,150,277
December 2007 129,508,098
March 2008 84,718,011
June 2008 41,243,432
September 2008 0
December 2008 0
March 2009 0
June 2009 0
September 2009 0
December 2009 0
March 2010 0
June 2010 0
September 2010 0
December 2010 0
3
March 2011 0
June 2011 0
September 2011 0
December 2011 0
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
4
Loan Tranche: The Series 2006-4 Class A2 Notes will fund the Series 2006-4 AAA
(Class A2) 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 2006-4
4. Initial Outstanding (GBP)135,226,504
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2030.
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
5
9. Relevant Screen 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. 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. Relevant Margin: 0.0102 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011.
13. Relevant Margin following 0.1703 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 109,613,677
June 2007 89,323,717
September 2007 69,848,115
December 2007 51,353,292
March 2008 33,592,870
June 2008 16,354,082
September 2008 0
6
December 2008 0
March 2009 0
June 2009 0
September 2009 0
December 2009 0
March 2010 0
June 2010 0
September 2010 0
December 2010 0
March 2011 0
June 2011 0
September 2011 0
December 2011 0
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
7
Loan Tranche: The Series 2006-4 Class A3 Notes will fund the Series 2006-4 AAA
(Class A3) 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 2006-4
4. Initial Outstanding (GBP)350,000,000
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2030.
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
8
9. Relevant Screen 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. 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. Relevant Margin: 0.04 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.08 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 283,707,600
June 2007 231,192,111
September 2007 180,784,384
December 2007 132,915,157
March 2008 86,946,747
June 2008 42,328,452
September 2008 0
9
December 2008 0
March 2009 0
June 2009 0
September 2009 0
December 2009 0
March 2010 0
June 2010 0
September 2010 0
December 2010 0
March 2011 0
June 2011 0
September 2011 0
December 2011 0
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
10
Loan Tranche: The Series 2006-4 Class A4 Notes will fund the Series 2006-4 AAA
(Class A4) 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 2006-4
4. Initial Outstanding (GBP)369,517,314
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054.
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
11
9. Relevant Screen 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. 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. Relevant Margin: 0.0527 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.2554 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 369,517,314
June 2007 369,517,314
September 2007 369,517,314
December 2007 369,517,314
March 2008 369,517,314
June 2008 369,517,314
September 2008 369,517,314
12
December 2008 354,120,171
March 2009 290,494,326
June 2009 228,037,017
September 2009 168,086,496
December 2009 111,155,043
March 2010 57,073,075
June 2010 0
September 2010 0
December 2010 0
March 2011 0
June 2011 0
September 2011 0
December 2011 0
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
13
Loan Tranche: The Series 2006-4 Class A5 Notes will fund the Series 2006-4 AAA
(Class A5) 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 2006-4
4. Initial Outstanding (GBP)160,440,064
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of two-week
sterling LIBOR and one month sterling
LIBOR.
14
9. Relevant Screen 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. 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. Relevant Margin: 0.0614 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.2728 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 160,440,064
June 2007 160,440,064
September 2007 160,440,064
December 2007 160,440,064
March 2008 160,440,064
June 2008 160,440,064
September 2008 160,440,064
15
December 2008 153,754,806
March 2009 126,129,214
June 2009 99,010,986
September 2009 72,981,176
December 2009 48,262,210
March 2010 24,780,457
June 2010 0
September 2010 0
December 2010 0
March 2011 0
June 2011 0
September 2011 0
December 2011 0
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
16
Loan Tranche: The Series 2006-4 Class A6 Notes will fund the Series 2006-4 AAA
(Class A6) 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 2006-4
4. Initial Outstanding (GBP)592,864,638
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
17
9. Relevant Screen 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. 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. Relevant Margin: 0.1020 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.3540 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 592,864,638
June 2007 592,864,638
September 2007 592,864,638
December 2007 592,864,638
March 2008 592,864,638
June 2008 592,864,638
September 2008 592,864,638
18
December 2008 592,864,638
March 2009 592,864,638
June 2009 592,864,638
September 2009 592,864,638
December 2009 592,864,638
March 2010 592,864,638
June 2010 592,864,638
September 2010 566,849,358
December 2010 542,144,191
March 2011 518,675,545
June 2011 495,637,919
September 2011 473,524,932
December 2011 452,525,540
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
19
Loan Tranche: The Series 2006-4 Class A7 Notes will fund the Series 2006-4 AAA
(Class A7) 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 2006-4
4. Initial Outstanding (GBP)767,410,412
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
20
9. Relevant Screen 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. 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. Relevant Margin: 0.0999 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.3500 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 767,410,412
June 2007 767,410,412
September 2007 767,410,412
December 2007 767,410,412
March 2008 767,410,412
June 2008 767,410,412
September 2008 767,410,412
21
December 2008 767,410,412
March 2009 767,410,412
June 2009 767,410,412
September 2009 767,410,412
December 2009 767,410,412
March 2010 767,410,412
June 2010 767,410,412
September 2010 733,735,952
December 2010 701,757,316
March 2011 671,379,247
June 2011 641,559,094
September 2011 612,935,803
December 2011 585,753,962
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
22
Loan Tranche: The Series 2006-4 Class A8 Notes will fund the Series 2006-4 AAA
(Class A8) 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 2006-4
4. Initial Outstanding (GBP)300,000,000
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
23
9. Relevant Screen 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. 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. Relevant Margin: 0.11 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.22 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 300,000,000
June 2007 300,000,000
September 2007 300,000,000
December 2007 300,000,000
March 2008 300,000,000
June 2008 300,000,000
September 2008 300,000,000
24
December 2008 300,000,000
March 2009 300,000,000
June 2009 300,000,000
September 2009 300,000,000
December 2009 300,000,000
March 2010 300,000,000
June 2010 300,000,000
September 2010 286,835,808
December 2010 274,334,556
March 2011 262,459,006
June 2011 250,801,560
September 2011 239,611,996
December 2011 228,985,932
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
25
Loan Tranche: The Series 2006-4 Class B1 Notes will fund the Series 0000-0 XX
(Class B1) 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 2006-4
4. Initial Outstanding (GBP)31,794,334
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
26
9. Relevant Screen 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. 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. Relevant Margin: 0.0948 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.3396 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 31,794,334
June 2007 31,794,334
September 2007 31,794,334
December 2007 31,794,334
March 2008 31,794,334
June 2008 31,794,334
September 2008 31,794,334
27
December 2008 0
March 2009 0
June 2009 0
September 2009 0
December 2009 0
March 2010 0
June 2010 0
September 2010 0
December 2010 0
March 2011 0
June 2011 0
September 2011 0
December 2011 0
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
28
Loan Tranche: The Series 2006-4 Class B3 Notes will fund the Series 0000-0 XX
(Class B3) 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 2006-4
4. Initial Outstanding (GBP)42,258,283
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
29
9. Relevant Screen 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. 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. Relevant Margin: 0.1865 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.5230 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Pass-through
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Not Applicable
Controlled Repayment Loan
Tranche:
19. Details relating to Applicable
Pass-through Loan Tranches:
The Series 2006-4 AA Class B3 Loan
Tranche will become due on the Loan
Payment Date falling in December 2011
and any Loan Payment Date thereafter.
20. Other terms and special Not Applicable
conditions:
30
Loan Tranche: The Series 2006-4 Class M1 Notes will fund the Series 2006-4 A
(Class M1) 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 2006-4
4. Initial Outstanding (GBP)25,078,699
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
31
9. Relevant Screen 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. 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. Relevant Margin: 0.1774 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.5048 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 25,078,699
June 2007 25,078,699
September 2007 25,078,699
December 2007 25,078,699
March 2008 25,078,699
June 2008 25,078,699
September 2008 25,078,699
32
December 2008 0
March 2009 0
June 2009 0
September 2009 0
December 2009 0
March 2010 0
June 2010 0
September 2010 0
December 2010 0
March 2011 0
June 2011 0
September 2011 0
December 2011 0
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
33
Loan Tranche: The Series 2006-4 Class M2 Notes will fund the Series 2006-4 A
(Class M2) 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 2006-4
4. Initial Outstanding (GBP)5,246,590
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
34
9. Relevant Screen 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. 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. Relevant Margin: 0.3178 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.7856 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Pass-through
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Not Applicable
Controlled Repayment Loan
Tranche:
19. Details relating to Applicable
Pass-through Loan Tranches:
The Series 2006-4 A Class M2 Loan
Tranche will become due on the Loan
Payment Date falling in December 2011
and any Loan Payment Date thereafter.
20. Other terms and special Not Applicable
conditions:
35
Loan Tranche: The Series 2006-4 Class M3 Notes will fund the Series 2006-4 A
(Class M3) 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 2006-4
4. Initial Outstanding (GBP)57,065,585
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054.
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
36
9. Relevant Screen 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. 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. Relevant Margin: 0.2937 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.7373 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Pass-through
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Not Applicable
Controlled Repayment Loan
Tranche:
19. Details relating to Applicable
Pass-through Loan Tranches:
The Series 2006-4 A Class M3 Loan
Tranche will become due on the Loan
Payment Date falling in December 2011
and any Loan Payment Date thereafter.
20. Other terms and special Not Applicable
conditions:
37
Loan Tranche: The Series 2006-4 Class C1 Notes will fund the Series 2006-4 BBB
(Class C1) 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 2006-4
4. Initial Outstanding (GBP)17,103,882
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
38
9. Relevant Screen 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. 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. Relevant Margin: 0.3991 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 0.9481 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Controlled Amortisation
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Applicable
Controlled Repayment Loan
Tranche:
Controlled Repayment Dates Target Balance:
Loan Payment Date occurring
in:
(GBP)
March 2007 17,103,882
June 2007 17,103,882
September 2007 17,103,882
December 2007 17,103,882
March 2008 17,103,882
June 2008 17,103,882
September 2008 17,103,882
39
December 2008 0
March 2009 0
June 2009 0
September 2009 0
December 2009 0
March 2010 0
June 2010 0
September 2010 0
December 2010 0
March 2011 0
June 2011 0
September 2011 0
December 2011 0
March 2012 0
June 2012 0
September 2012 0
December 2012 0
March 2013 0
19. Details relating to Not Applicable
Pass-through Loan Tranches:
20. Other terms and special Not Applicable
conditions:
40
Loan Tranche: The Series 2006-4 Class C2 Notes will fund the Series 2006-4 BBB
(Class C2) 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 2006-4
4. Initial Outstanding (GBP)7,869,885
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
41
9. Relevant Screen 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. 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. Relevant Margin: 0.5243 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 1.1986 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Pass-through
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Not Applicable
Controlled Repayment Loan
Tranche:
19. Details relating to Applicable
Pass-through Loan Tranches:
The Series 2006-4 BBB Class C2 Loan
Tranche will become due on the Loan
Payment Date falling in December 2011
and any Loan Payment Date thereafter.
20. Other terms and special Not Applicable
conditions:
42
Loan Tranche: The Series 2006-4 Class C3 Notes will fund the Series 2006-4 BBB
(Class C3) 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 2006-4
4. Initial Outstanding (GBP)42,461,122
Principal Balance:
5. (i) Closing Date: 29 November, 2006
(ii) Loan Tranche 29 November, 2006
Interest
Commencement Date:
(iii) Loan Tranche In respect of the first Loan Tranche
Interest Reset Interest Reset Date, the Loan Tranche
Dates: Interest Commencement Date and, for
each subsequent Loan Tranche Interest
Reset Date, the Monthly Payment Date
falling in March, June, September and
December of each year (or, if such
date is not a London Business Day,
the next following London Business
Day) 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 of each year
(or, if such date is not a London
Business Day, the next following
London Business Day), in each case,
up to, and including, the Final
Repayment Date.
6. Final Repayment Date: The Loan Payment Date falling in
December 2054
7. Loan Payment Dates: Each Monthly Payment Date in each
year (or, if such date is not a
London Business Day, the next
following London Business Day) up to
and including the Final Repayment
Date.
8. Initial Relevant Screen Rate: The linear interpolation of three
month sterling LIBOR and four month
sterling LIBOR.
43
9. Relevant Screen 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. 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. Relevant Margin: 0.4925 per cent. per annum
12. Step-Up Date: The Loan Payment Date occurring in
December 2011
13. Relevant Margin following 1.1350 per cent. per annum
Step-Up Date:
14. Redemption/Payment Basis: Pass-through
15. Change of Redemption/Payment Not Applicable
Basis:
16. Details relating to Bullet Not Applicable
Loan Tranche:
17. Details relating to Not Applicable
Scheduled Repayment Loan
Tranche:
18. Details relating to Not Applicable
Controlled Repayment Loan
Tranche:
19. Details relating to Applicable
Pass-through Loan Tranches:
The Series 2006-4 BBB Class C3 Loan
Tranche will become due on the Loan
Payment Date falling in December 2011
and any Loan Payment Date thereafter.
20. Other terms and special Not Applicable
conditions:
44
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
each Loan Tranche set out in this Loan Tranche Supplement;
(b) the representations and warranties set out in Clause 13 (Representations
and Warranties of Funding 2) of the Global Intercompany Loan Agreement 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 each Loan Tranche set out
in this Loan Tranche Supplement; and
(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.
45
EXECUTION PAGE
for Loan Tranche Supplement
as Funding 2
EXECUTED for and on behalf of )
GRANITE FINANCE FUNDING 2 LIMITED )
by )
/s/ Xxxxxxx Xxxxxxxxxx
-------------------------
Name: Xxxxxxx Xxxxxxxxxx
Representing L.D.C. Securitisation Director No 2 Limited
as Master Issuer
EXECUTED for and on behalf of )
GRANITE MASTER ISSUER PLC )
by )
/s/ Xxxxxxx Xxxxxxxxxx
-------------------------
Name: Xxxxxxx Xxxxxxxxxx
Representing L.D.C. Securitisation Director No 2 Limited
as Funding 2 Security Trustee
EXECUTED for and on behalf of )
THE BANK OF NEW YORK )
by )
/s/ Xxxxx Xxx
-----------------------------
Name: Xxxxx Xxx
Vice President
The Bank of New York
as Agent Bank
EXECUTED for and on behalf of )
CITIBANK, N.A. )
by )
/s/ Xxxxxxx Xxxxxxxx
-----------------------------
Name: Xxxxxxx Xxxxxxxx
46
