All noteholders are afforded protection through the application of the covenants
set out in the Series Notice.
Due to the relative ranking of the class of notes and application of the Payment Waterfall, a key covenant affording protection to A Class Noteholders is:
A Loss Reserve is maintained by the Trustee.
Assets of the Fund are applied in accordance with the Waterfall provisions defined in the Series Notice.
Rank ahead of any other obligation of the Fund.
7.00% per annum, payable monthly on 10th business day of the month.