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

Exercise of Call Option), in each case according to the provisions of the relevant Condition. See further “Terms
and Conditions of the Notes”.
Statement to Noteholders
On or prior to each Payment Date, the Cash Manager will be required to provide or make available
electronically to the Note Trustee, the Servicer, the Special Servicer, the Rating Agencies, the Noteholders, the
Advance Provider, the Controlling Class Representative, the Issuer and its designee, including a financial
market publisher (which is anticipated to initially be Bloomberg, L.P.), if any, (i) a statement substantially in the
form attached hereto as Appendix 2, subject to amendment from time to time in accordance with market
demands (a “Statement to Noteholders”) in respect of each Payment Date in which it will notify the recipients
of, inter alia, amounts received in the Issuer Accounts and payments made with respect to the Notes (other than
the Class V Notes) on such Payment Date, based upon information provided by the Servicer in accordance with
the Servicing Agreement; and (ii) certain information relating to the Properties and the Libra Loan.
In addition, within a reasonable period of time after the end of each calendar year, the Cash Manager is
required to furnish, upon request, to each person or entity who at any time during the calendar year was a holder
of a Note, a statement setting forth the principal and interest distributed to the applicable class, aggregated for
the Payment Dates falling in the related calendar year during which that person was a Noteholder, together with
any other information as the Cash Manager deems necessary or desirable, or that a Noteholder reasonably
requests, to enable Noteholders to prepare their tax returns for that calendar year.
Information Available Electronically
The Cash Manager will make available quarterly for the relevant reporting periods, to the Note Trustee, on
behalf of the Noteholders, the Statement to Noteholders via the Cash Manager’s internet website which is
initially located at www.etrustee.net. This internet website does not form part of this Offering Circular. In
addition, the Cash Manager will make the CMSA European Investor Reporting Package related to the Libra
Loan available, to the extent that the Cash Manager receives the CMSA European Investor Reporting Package
from the Servicer. See “Servicing—Quarterly Reporting”. The CMSA European Investor Reporting Package
sets forth information with respect to the Libra Loan and the Properties and will be in the form approved by the
Commercial Mortgage Securities Association (“CMSA”), as such reports may be modified to reflect that the
Properties are located in England, Wales, Scotland and Northern Ireland, as the case may be. Information will
be accessible only with a password provided by the Cash Manager.
The Cash Management Agreement requires that the Cash Manager make available at its offices (except for
items (e) and (f) below, which will be made available by the Note Trustee or its designee), during normal
business hours, for review by any Noteholder, the Loan Arranger, the Loan Seller, the Issuer, the Servicer, the
Special Servicer, the Rating Agencies, the Controlling Class Representative or any other person to whom the
Cash Manager or the Note Trustee, as applicable, believes the disclosure is appropriate (in each case, to the
extent permitted by the Loan Documents and not otherwise prohibited by applicable law), upon their prior
written request, originals or copies of, among other things, the following items:
(a) the Servicing Agreement and any amendments to that agreement;
(b) all Statements to Noteholders made available to holders of the relevant class of Notes since the Closing
Date;
(c) all accountants’ reports delivered to the Cash Manager since the Closing Date;
(d) the most recent property inspection report prepared by or on behalf of the Servicer or the Special
Servicer and delivered to the Cash Manager in respect of each Property;
(e) copies of the Loan Documents;
(f) any and all modifications, waivers and amendments of the terms of the Libra Loan entered into by the
Servicer or the Special Servicer and delivered to the Note Trustee; and
(g) any and all statements and reports delivered to, or collected by, the Servicer or the Special Servicer
from the Borrower, including the most recent annual property operating statements, tenant schedules
(rent schedules) and Borrower financial statements, but only to the extent that the statements and
reports have been delivered to the Cash Manager.
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