Titan Europe 2007-1 (NHP) Limited - Irish Stock Exchange

(C) any payment made by the Loan Arranger to repurchase (or participate in) the Libra Loan
pursuant to the Loan Sale Agreement during the Collection Period immediately preceding
such Payment Date; and
(D) to the extent not included above, any full or partial recoveries in respect of principal, net
insurance proceeds, compulsory purchase proceeds and net enforcement or liquidation
proceeds received in respect of the Libra Loan during the Collection Period immediately
preceding such Payment Date (including the principal component of any payment received in
connection with the sale of the Libra Loan pursuant to the Purchase Option or to a Subordinate
Lender under the related Subordinate Debt, if applicable, in each case as described under
“Servicing—Enforcement of the Libra Loan”);
in any case due or deemed due and actually received during the Collection Period related to such
Payment Date; provided that after an enforcement of the security granted pursuant to the Deed of
Charge and Assignment in accordance with its terms, all amounts remaining as Available Funds in
the Collection Account will be considered Principal Distribution Amounts;
(ii) any interest or net income earned on any prepayments, Break Costs or liquidation proceeds
deposited into the Collection Account during the Collection Period immediately preceding such
Payment Date;
(iii) any and all interest earned on the Libra Loan, all amounts received under the Basis Swap
Transaction, the interest component of all P&I Advances made by the Advance Provider or the
Backup Advance Provider under the Servicing Agreement, and any other amounts received (other
than amounts allocated to the Class V Account as provided in paragraph (a) above), including all
Break Costs;
(iv) any amounts representing the fees and expenses payable to the Servicer or Special Servicer or
other party (other than the relevant Subordinate Lender), pursuant to the terms of the Senior
Intercreditor Deed; and
(v) any and all payments on account of the Swap Transactions that are payable to the Swap Provider
under the terms of the Senior Intercreditor Deed (other than Swap Subordinated Amounts).
The “Principal Prepayment Amount” for any Payment Date will be equal to the sum of: (without
duplication) any voluntary or mandatory principal prepayments (including any premium received in connection
with any property release) or Balloon Payment but excluding, in each case, amortisation actually received under
the Libra Loan during the Collection Period related to such Payment Date.
The “Principal Amortisation Amount” for any Payment Date will be equal to the Principal Distribution
Amount for such Payment Date less the Principal Prepayment Amount for such Payment Date.
The “Sequential Principal Distribution Amount” for any Payment Date will be equal to the excess of the
Principal Distribution Amount received for the Libra Loan for such Payment Date over the Pro Rata Principal
Prepayment Amount for such Payment Date.
The “Pro Rata Principal Prepayment Amount” and the “Pre-Trigger Sequential Principal
Prepayment Amount” for any Payment Date will be equal to the lesser of:
(a) 50 per cent. of the Principal Prepayment Amount for such Payment Date; or
(b) 50 per cent. of an amount that, if applied against the aggregate Principal Amount Outstanding of the
Notes (other than the Class X Notes and the Class V Notes) as at such Payment Date would, after
application of any Principal Amortisation Amount on such Payment Date, reduce such Principal
Amount Outstanding to 50 per cent. of the Principal Amount Outstanding of the Notes (other than the
Class X Notes and the Class V Notes) as at the Closing Date.
Notwithstanding the foregoing if a Sequential Prepayment Trigger exists on the Determination Date
immediately preceding such Payment Date, the Pro Rata Principal Prepayment Amount and the Pre-Trigger
Sequential Principal Prepayment Amount for such Payment Date will be zero.
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