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GSAA HET 2005-15, Tranche B2, sold into Eirles Two Ltd- Series 273 , under English Law

GSAA HET 2005-15, Tranche B2, sold into Eirles Two Ltd- Series 273 , under English Law

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Published by Tim Bryant
Prospectus for Eirles Two Limited Series 273 Credit-Linked Notes, offered in 2006. The reference obligations include BSABS 2005-TC2, Tranche M6, which Tranche B2 of GSAA HET 2005-15 had been sold into.

Please note that BFC Genesee publicly sold these CUSIPs in 2012, as assets of the BSABS trust.

These notes are under English Law, and the arranger, Deutsche Bank, is also the indentured Custodian under GSAA Home Equity Trust 2005-15.
Prospectus for Eirles Two Limited Series 273 Credit-Linked Notes, offered in 2006. The reference obligations include BSABS 2005-TC2, Tranche M6, which Tranche B2 of GSAA HET 2005-15 had been sold into.

Please note that BFC Genesee publicly sold these CUSIPs in 2012, as assets of the BSABS trust.

These notes are under English Law, and the arranger, Deutsche Bank, is also the indentured Custodian under GSAA Home Equity Trust 2005-15.

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Categories:Types, Business/Law
Published by: Tim Bryant on Jan 14, 2013
Copyright:Attribution Non-commercial

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04/11/2013

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299009_3
DATED 30 JULY 2007
 
EIRLES TWO LIMITED
(incorporated with limited liability in Ireland)
(the
"Issuer"
)
EUR 10,000,000,000
Secured Note Programme 
 (the
"Programme"
)
PROSPECTUS
(issued pursuant to the base prospectus dated 31st July 2006 (the 
"Base Prospectus" 
 ))
Series 273 USD 55,000,000 Floating Rate PortfolioCredit Linked Secured Notes due 2038
(the
"Notes"
)
DEUTSCHE BANK AG, LONDON BRANCH
 
as Arranger
The attention of investors is drawn to the section headed "Investment Considerations and Risk Factors" on page 3 of this Prospectus 
 
 
299009_3
2
 TABLE OF CONTENTS
INVESTMENT CONSIDERATIONS AND RISK FACTORS
...........................................................................3
 
GENERAL
.......................................................................................................................................................6
 
TERMS AND CONDITIONS OF THE NOTES
................................................................................................8
 
SCHEDULE 1 - DEFINITIONS
......................................................................................................................38
 
SCHEDULE 2 - AMENDMENTS TO TRUST TERMS
..................................................................................40
 
FURTHER INFORMATION CONCERNING THE TRUST INSTRUMENT
...................................................43
 
INFORMATION CONCERNING THE CALCULATION AGENT
...................................................................45
 
FURTHER INFORMATION CONCERNING THE SWAP AGREEMENT
......................................................46
 
FURTHER INFORMATION CONCERNING THE DEPOSIT ACCOUNT
.....................................................47
 
USE OF PROCEEDS
....................................................................................................................................48
 
TAX CONSIDERATIONS
..............................................................................................................................48
 
LEGAL OPINIONS
........................................................................................................................................48
 
AVAILABILITY OF PROSPECTUS AND OTHER DOCUMENTS
................................................................48
 
PAYING AGENTS AND LISTING AGENT
....................................................................................................48
 
SELLING RESTRICTIONS
...........................................................................................................................49
 
ANNEX 1 - INFORMATION CONCERNING THE ISSUER
..........................................................................51
 
ANNEX 2 - DEFAULT SWAP CONFIRMATION
...........................................................................................52
 
 
 
299009_3
3
 
INVESTMENT CONSIDERATIONS AND RISK FACTORS
Purchasers of Notes should conduct such independent investigation and analysis regarding theIssuer, the Reference Entities, the Reference Obligations, the Collateral and the obligors in respectthereof, the Notes, the Swap Counterparty (each of the terms as defined herein) and all otherrelevant persons and market and economic factors as they deem appropriate to evaluate themerits and risks of an investment in the Notes. The Issuer and the Arranger disclaim anyresponsibility to advise purchasers of Notes of the risks and investment considerations associatedwith the purchase of the Notes as they may exist at the date hereof or from time to time thereafter.However, as part of such independent investigation and analysis, prospective purchasers of Notesshould consider all the information set forth in the Base Prospectus and this Prospectus, includingthe considerations set forth below.(A) All payments to be made by the Issuer in respect of the Notes and the Swap Agreementrelated thereto will be made only from and to the extent of the sums received or recoveredfrom time to time by or on behalf of the Issuer or the Trustee in respect of the MortgagedProperty (as defined in Condition 4.2) in respect of such Notes;(B) To the extent that such sums are less than the amount which the holders of the Notes andthe Swap Counterparty may have expected to receive if paragraph (A) above did not apply(the difference being referred to herein as a "
shortfall
"), such shortfall will be borne bysuch holders and by the Swap Counterparty in accordance with the Terms and Conditionsof the Notes and the order of priorities specified in this Prospectus; and(C) Each holder of the Notes, by subscribing for or purchasing the Notes, will be deemed toaccept and acknowledge that it is fully aware that:(i) the holders of the Notes and the Swap Counterparty shall look solely to the sumsreferred to in paragraph (A), as applied in accordance with paragraph (B) above(the "
Relevant Sums
") for payments to be made by the Issuer in respect of theNotes and the Swap Agreement related thereto;(ii) the obligations of the Issuer to make payments in respect of the Notes and theSwap Agreement related thereto will be limited to the Relevant Sums and theholders of the Notes and the Swap Counterparty shall have no further recourse tothe Issuer in respect of the Notes or the Swap Agreement related thereto;(iii) without prejudice to the foregoing, any right of the holders of the Notes and theSwap Counterparty to claim payment of any amount exceeding the Relevant Sumsshall be automatically extinguished; and(iv) the holders of the Notes shall not be able to petition for the winding up of the Issueror the appointment of an examiner in respect of the Issuer as a consequence ofany such shortfall.Investment in the Notes is only suitable for investors who:(1) have the requisite knowledge and experience in financial and business matters, and accessto, and knowledge of, appropriate analytical resources, to evaluate the informationcontained in the Base Prospectus and this Prospectus and the merits and risks of aninvestment in the Issuer in the context of such investors’ financial position andcircumstances;(2) are capable of bearing the economic risk of an investment in the Issuer for an indefiniteperiod of time;

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