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

(d) have the effect of permitting the assignment or substitution or transfer of a controlling interest in the
Borrower or the assumption of the Borrower’s obligations by any other person, unless notice of such
matter is provided to the Rating Agencies.
The Servicer and the Special Servicer will each be required to deposit in the relevant mortgage file an
original counterpart of any agreement relating to a modification, waiver or amendment agreed to by it promptly
following its execution and to forward a copy to the Note Trustee and the Rating Agencies. Upon reasonable
prior written notice to the Servicer, copies of each agreement by which any modification, waiver or amendment
of any term of the Libra Whole Loan is effected are required to be available for review during normal business
hours at the offices of the Servicer.
Calculations
The Servicer will identify all funds received by the Issuer under the Libra Loan as principal, interest or
other amounts allocable to the Libra Whole Loan or otherwise and will advise the Cash Manager and as to the
crediting of such funds to the related ledger.
Insurance
The Servicer (for so long as the Libra Whole Loan is not a Specially Serviced Loan) and the Special
Servicer (for so long as the Libra Whole Loan is a Specially Serviced Loan) will, on behalf of the Note Trustee,
the Security Agent and the Issuer administer the arrangements for insurance in respect of, or in connection with,
the Libra Whole Loan and any Related Security. Pursuant to the terms of the Servicing Agreement, the Servicer
or the Special Servicer, as applicable, are required to use reasonable efforts consistent with the Servicing
Standard to monitor the compliance of, and to the extent reasonably practicable, to cause the Borrower to
comply with the requirements of the Loan Documents regarding the maintenance of insurance on the related
Properties.
To the extent consistent with the Loan Documents, each of the Servicer or the Special Servicer, as
applicable, is required under the Servicing Agreement to use reasonable endeavours consistent with the
Servicing Standard to require the Borrower to obtain insurance coverage required under the Loan Documents
from insurers which have a “claims paying ability” or an “insurance financial strength” rating, as applicable of
“A” or better by S&P and Fitch and “A3” or better by Moody’s (or the obligations of which are guaranteed or
backed by a company that has such insurance financial strength rating), unless in any such case S&P has
confirmed in writing that obtaining the related insurance from an insurance company that is not rated by each of
the Rating Agencies (subject to the foregoing exceptions) or that has a lower claims-paying ability than such
requirements shall not result, in and of itself, in an Adverse Rating Event.
In the event that the Servicer (for as long as the Libra Whole Loan is not a Specially Serviced Loan) or the
Special Servicer (for as long as the Libra Whole Loan is a Specially Serviced Loan) becomes aware that either:
(a) a Property is not covered by a buildings insurance policy; or (b) a buildings insurance policy may lapse in
relation to a Property due to the non-payment of any premium, the Servicer or the Special Servicer as
applicable, is required, pursuant to the terms of the Servicing Agreement and subject always to all applicable
laws and regulations and consistent with the Servicing Standard, to procure that buildings insurance is
maintained for such Property in the form required under the related Loan Documents. Such building insurance
policy will be paid for by either (i) a Servicing Advance, or (ii) a withdrawal from the related Rent Account of
an amount necessary to pay all necessary premia (in the case of (a) preceding) or pay to the insurer any unpaid
premia, together with any penalties or other charges arising from the related Borrower’s failure to timely pay
such items (in the case of (b) preceding). However, neither the Servicer nor the Special Servicer is required to
pay or instruct payment of any amount described above if, in its reasonable opinion, to do so would not be in
accordance with the Servicing Standard. See also “Risk Factors—Loan Related Risks—Insurance”.
Delegation by the Servicer and the Special Servicer
Each of the Servicer or the Special Servicer may, in certain circumstances, without the consent of the Issuer
or the Note Trustee, sub-contract or delegate its obligations under the Servicing Agreement to any entity,
including an affiliate or associated company. Notwithstanding any sub-contracting or delegation of the
performance of any of its obligations under the Servicing Agreement, the Servicer or the Special Servicer, as the
case may be, shall not be released or discharged from any liability thereunder and shall remain responsible for
the performance of its obligations under the Servicing Agreement by any sub-contractor or delegate.
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