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

“Assumed Scheduled Payment” means, with respect to the Libra Loan if delinquent in respect of its
Balloon Payment, an amount equal to interest on the outstanding principal balance of the Libra Loan at the
applicable Loan Interest Rate (net of interest at the Servicing Fee Rate).
“Balloon Payment” means, with respect to the Libra Loan, the principal amount payable on the Libra Loan
on its Loan Maturity Date.
To the extent that the Advance Provider fails to make any Advance required of it, the Backup Advance
Provider will be obliged to make such required Advance. Notwithstanding the foregoing, neither the Advance
Provider nor the Backup Advance Provider will be obliged to make Advances to the extent that such Advance
would, if made, in the sole judgment of the Advance Provider or the Backup Advance Provider (based on advice
received by the Servicer or the Special Servicer, as the case may be, acting in accordance with the Servicing
Standard), not be ultimately recoverable from Late Collections or any other recovery on or in respect of the
Libra Loan or MIP Loan (or, in connection with any Advance made with respect to amounts set forth under
paragraph (a), (b) or (c) of the definition of “Revenue Priority Amounts”, would not be ultimately recoverable
from collections on the Libra Loan) (in each case, a “Nonrecoverable Advance”). The Servicer or the Special
Servicer, as applicable, will be required to provide to the Advance Provider and the Rating Agencies (with a
copy to the Backup Advance Provider) its determination of whether an Advance would be a Nonrecoverable
Advance at the time that it first makes its notification to the Advance Provider of any P&I Required Amounts or
need for a Servicing Advance. In addition, in connection with any required Advance notified by the Cash
Manager, the Servicer will provide its determination to the Advance Provider (with a copy to the Backup
Advance Provider) as to whether any such Advance would be a Nonrecoverable Advance based upon amounts
that remain outstanding under the Libra Loan and the Value of the Properties as set out in the most recent
Valuation Report. The Advance Provider and the Backup Advance Provider, as applicable, will be entitled to
rely conclusively upon any such determinations of recoverability made by the Servicer or the Special Servicer;
provided, however, that neither the Servicer nor the Special Servicer shall incur any liability to any other party
in respect of any losses, liability, costs or expenses incurred by any party which result from the estimate or
determination of the amount or recoverability of Advances which are required to be made on a Due Date (other
than as a result of the Servicer’s or, as the case may be, the Special Servicer’s negligence or wilful misconduct).
“Late Collections” means, with respect to the Libra Loan, all amounts received thereon during any Loan
Interest Accrual Period (other than default interest), whether as payments, insurance proceeds, compulsory
purchase proceeds, Liquidation Proceeds or otherwise, which represent late payments or collections of principal
or interest due in respect of the Libra Loan (or Assumed Scheduled Payments deemed due) (without regard to
any acceleration of amounts due thereunder by reason of default) on a Due Date in a previous Loan Interest
Accrual Period and not previously recovered.
Notwithstanding the foregoing, (i) if the amount of payment of principal or interest on the Libra Loan has
been reduced in connection with an insolvency, bankruptcy or similar proceeding involving the Borrower or a
modification, waiver or amendment granted or agreed to by the Special Servicer, or (ii) if the Loan Maturity
Date has been extended in connection with an insolvency, bankruptcy or similar proceeding involving the
Borrower or a modification, waiver or amendment granted or agreed to by the Special Servicer, and the
scheduled payments of principal (if any) and interest under the Libra Loan due and owing during the extension
period are less than the related Assumed Scheduled Payment, then the Advance Provider or the Backup
Advance Provider will, as to the Libra Loan, advance only the amount of principal or interest payment due and
owing after taking into account such reduction (net of related Special Servicing Fees) in the event of subsequent
delinquencies thereon.
Each of the Advance Provider and the Backup Advance Provider, as the case may be, to the extent of any
Advance that has been made, will be entitled to reimbursement for such Advances, plus interest, from the
Collection Account upon receipt from the Borrower of the related Late Collections or amount for which such
Advance was made. Pursuant to the terms of the Cash Management Agreement, upon receipt of such amounts,
the Cash Manager will reimburse the Advance Provider or the Backup Advance Provider, as the case may be,
for such outstanding Advance, together with interest. In addition, on any Payment Date, the Advance Provider
or the Backup Advance Provider, as applicable, is entitled to recover from general funds on deposit in the
Collection Account, any Advance made that the Servicer or Special Servicer, as applicable, determines (in
accordance with the Servicing Standard) to be a Nonrecoverable Advance. The Servicer and the Special
Servicer, as applicable, will be required to advise the Advance Provider and the Backup Advance Provider on a
quarterly basis of any Advance made by the Advance Provider or the Backup Advance Provider that it
determines to be a Nonrecoverable Advance. Each of the Advance Provider and the Backup Advance Provider,
as the case may be, will be entitled to receive interest at the Reimbursement Rate in effect from time to time
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