means -
(a) in relation to assets or property of any kind - such of the assets or property as are in the course of being foreclosed or otherwise enforced,
(b) in relation to mortgage credit assets for which the related mortgage credit is of a kind referred to in section 4 (1) (but disregarding, for the purposes of this paragraph, section 4(4)) - such of those assets in relation to which one or more payments of principal or interest payable on that credit are in arrears under the terms of the security documents governing that credit, but only if those payments are referable to a period of 3 months or more, or
(c) in relation to kinds of assets or property, other than mortgage credit assets referred to in paragraph (b) - such of the assets or property in respect of which one or more payments of principal or interest payable on the related credit are in arrears for 10 days or more under the terms of the security documents that govern that credit