The Thekwini Fund 8 (Proprietary) Limited
Priority of Payments
Based on information as at each Determination Date:
Part 1
Date Prepared
Collection Period
From (including)
To (excluding)
Cash Received on Settlement date to purchase Home Loans
Instalments Received
Prepayments Received
Expense Over (under) provision in prior quarter's POP
Reserve Fund
Interest on Reserve Fund, Call & long Term Deposits
Net Interest Current Account
Prior quarter Capital Reserve
Prior quarter excluded items
Permitted Investments form previous quarter
Total Collections
Closing Loan Balances as at current Determination Date including accrued interest
Balance on the Notes
Part 2
Date Prepared
Value Date
Total Cash available before Excluded Items
Less Excluded Items
Total Cash available for distribution
1.Taxes
(a) Income Tax
(b) Value Added Tax
(c) Other Tax (STC)
2.Operating Expenses
(a) Fee and expenses of Security SPV
(b) Fee and expenses of Owner Trustee
3.Third Party Expenses
(a) Fees, costs, charges etc.of Rating Agencies
(b) Fees,costs,charges etc. of BESA
(c) Fees,costs,charges ect. of auditors of Issuer
(d) Fees, costs, charges, liabilities and expenses of company secretarial duties and Directors
(e) Other third party fees, costs, charges, liabilities and expenses
4.Servicing Fee
(a) Senior Servicing Fee,costs and expenses of Servicer
(b) Standby Servicing Fee,costs,and expenses of Standby Servicer
5. Redraw Facility
(a) Interest and other expenses,other than principal, in respect of Redraw Facility
6. A1 ,A2 and A3 (not principal)
(a) Interest and other expenses, other than principal, in respect of Class A1 Notes
(b) Interest and other expenses, other than principal, in respect of Class A2 Notes
(c) Interest and other expenses, other than principal, in respect of Class A3 Notes
7.B Notes (not principal) – no Class B Interest Deferral Event
(a) Interest and other expenses, other than principal, in respect of Class B Notes
(b) Subordinated Servicing Fee of substitute Servicer
8. A Notes (not principal) – Step-Up Interest Due
(a) Step-Up Interest due and payable in respect of the Class A1 Notes
(b) Step-Up Interest due and payable in respect of the Class A2 Notes
(c) Step-Up Interest due and payable in respect of the Class A3 Notes
9. B Notes (not principal) – Step-Up Interest Due - no Class B Interest Deferral Event
(a) Step-Up Interest expenses, other than principal, in respect of Class B Notes
10. C Notes (not principal) – no Class C Interest Deferral Event
(a) Interest and other expenses, other than principal, in respect of Class C Notes
11. Arrears Reserve - Fund Required Amount - Arrears Trigger Event continuing
(a) Payment for Arrears Reserve up to Arrears Reserve Fund Required Amount
12. Reserve Fund Required Amount
(a) Payment for Reserve Fund Required Amount
13. D Notes (not principal) – no Class D Interest Deferral Event
(a) Interest and other expenses, other than principal, in respect of Class D Notes
14. Repayment of Redraws (until Coupon Step-Up Date only)
(a) Pay or provide for the purchase of the right to repayment of Redraws
15. Redraw Facility (principal)
(a) Capital payment
16. Further Advances (until Coupon Step-Up Date only)
(a) Further Advances made
17. Further Loans (during Further Loan Period only)
(a) Further Loans made
(b) Loans purchased from proceeds on notes
(c) Capital Reserve fund for Further Loan
18. Notes (principal) - Class A Notes outstanding
(a) Class A1 Redemption Amount
(b) Class A2 Redemption Amount
(c ) Class A3 Redemption Amount
(d) Class B Redemption Amount
(e) Class C Redemption Amount
(f) Class D Redemption Amount
19. Notes (principal) - No Class A Notes outstanding
(a) Class B Redemption Amount (up to Principal Deficiency)
20. Notes (principal) - No Class A Notes outstanding
(a) Class B Redemption Amount
(b) Class C Redemption Amount
(c) Class D Redemption Amount
21. Notes (principal) - No Class A Notes outstanding, No Class B Notes outstanding
(a) Class C Redemption Amount (up to Principal Deficiency)
22. Notes (principal) - No Class A Notes, No Class B Notes outstanding
(a) Class C Redemption Amount
(b) Class D Redemption Amount
23. B Notes (not principal) – Class B Interest Deferral Event
(a) Interest payable in respect of the Class B Notes
24. C Notes (not principal) – Class C Interest Deferral Event
(a) Interest payable in respect of the Class C Notes
25. D Notes (not principal) – Class D Interest Deferral Event
(a) Interest payable in respect of the Class D Notes
26. Notes (principal) - No Class A Notes outstanding, No Class B Notes ,No Class C Notes outstanding
(a) Class D Redemption Amount
27. Notes (Principal) – failure to exercise Call Option (Coupon Step-Up Date) - pari passu
(a) Class A1 Redemption Amount
(b) Class A2 Redemption Amount
(c ) Class A3 Redemption Amount
(d) Class B Redemption Amount
(e) Class C Redemption Amount
(f) Class D Redemption Amount
28. Subordinated Servicing Fee
(a) Pay Subordinated Servicing Fee due and payable to Servicer for as long as SAHL is the Servicer
29. Start-Up Loan (not principal)
(a) Interest and other expenses payable, other than principal, in respect of the Start-Up Loan
30. Management Fee - Only if Substitute Servicer assumes role of Servicer
(a) Pay Management Fee (if any) due and payable to the Substitute Servicer
31.Start-Up Loan (principal)
(a) Capital payment
32. Dividend to Preference Shareholder
(a) Pay or provide dividend to Preference Shareholder, net of Taxes
34. Owner Trust & Premitted Investments
(a) If actual or contingent obligations outstanding to Secured Creditors, invest any surplus cash in Permitted
Investments.
(b) If all obligations to Secured Creditors, contingent or Otherwise, have been discharged in full, pay any surplus as
a dividend (net of taxes) to ordinary of Issuer
6-Apr-11
7-Apr-11
6-Jan-11
6-Apr-11
R 50,584,349.42
R 49,547,640.91
R 1,330,410.35
R 34,654,200.00
R 1,220,363.64
R (85,671.82)
R 10,000,000.00
R 145,329.13
R -
R 147,396,621.63
R 1,579,710,378.88
R 1,641,257,349.00
7-Apr-11
6-Apr-11
R 147,396,621.63
R (53,722.97)
R 147,342,898.66
Provided
R 2,581,207.27
R -
R 71,434.38
R -
R 34,200.00
R -
R -
R 13,680.00
R 11,475.00
R -
R 1,103,308.87
R 89,840.86
R 53,576.34
R 5,298,068.96
R 4,610,342.47
R 14,689,109.59
R 1,742,942.47
R -
R -
R -
R -
R -
R 1,375,557.53
R -
R 34,654,200.00
R 500,017.81
R 14,466,218.41
R 1,644,513.88
R -
R 10,000,000.00
R 51,493,248.00
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R -
R 866,885.54
R 1,328,727.48
R -
R -
R 714,343.81
R -