Hierarchy of Monthly Distribution

The S&P Agent (HDFC) would be responsible for distribution of the collections, from the receivables pool to the PTC-holders and the various service providers available for distribution would include the entire monthly collections including penal collections against overdues less any unapproved advance payments received from the hierarchy of monthly distribution of the pool collections would be as follows: principal, (ii) fees to service providers, namely, trustee, servicing and paying agent, , legal and other out-of-pocket expenses, if any. in that order. (iii) Class A interest on the HDFC (if required), restore the corporate guarantee provided as a enhancement, (iv) Class B principal (only after retiring Class A PTCs) and (v) Class B income.

Other Details

The other details of the securitisation transaction are as follows.

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