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

Accountholders in both Euroclear and Clearstream, Luxembourg are worldwide financial institutions
including underwriters, securities brokers and dealers, banks, trust companies and clearing corporations.
Indirect access to both Euroclear and Clearstream, Luxembourg is available to other institutions that clear
through or maintain a custodial relationship with an accountholder of either system.
An accountholder’s overall contractual relations with either Euroclear or Clearstream, Luxembourg are
governed by the respective rules and operating procedures of Euroclear or Clearstream, Luxembourg and any
applicable laws. Both Euroclear and Clearstream, Luxembourg act under such rules and operating procedures
only on behalf of their respective accountholders, and have no record of or relationship with persons holding
through their respective accountholders.
The Issuer understands that under existing industry practices, if either the Issuer or Note Trustee requests
any action of owners of Book-Entry Interests or if an owner of a Book-Entry Interest desires to give instructions
or take any action that a holder is entitled to give or take under the Note Trust Deed, Euroclear and Clearstream,
Luxembourg, as the case may be, would authorise the participants owning the relevant Book-Entry Interests to
give instructions or to take such action, and such participants would authorise indirect participants to give
instructions or take such action or would otherwise act upon the instructions of such indirect participants.
Transfer and Transfer Restrictions
All transfers of Book-Entry Interests will be recorded in accordance with the book-entry systems
maintained by Euroclear or Clearstream, Luxembourg, as applicable, pursuant to customary procedures
established by each respective system and its participants. See “—General” above.
Each Rule 144A Global Note will bear a legend substantially identical to that appearing in paragraph (c)
under “Transfer Restrictions”, and no Rule 144A Global Note nor any Book-Entry Interest in such Rule 144A
Global Note may be transferred except in compliance with the transfer restrictions set forth in such legend. A
Book-Entry Interest in a Rule 144A Global Note of one class may be transferred to a person who takes delivery
in the form of a Book-Entry Interest in the Regulation S Global Note of the same class, whether before or after
the expiration of the Note Distribution Compliance Period, only upon receipt by the Common Depository of a
written certification from the transferor to the effect that such transfer is being made in accordance with
Regulation S or Rule 144 under the Securities Act (if available), and in each case in accordance with applicable
securities laws of the United States or any other jurisdiction and that, if such transfer occurs prior to the
expiration of the Note Distribution Compliance Period, the interest transferred will be held immediately
thereafter through Euroclear or Clearstream, Luxembourg.
Each Regulation S Global Note will bear a legend substantially identical to that appearing in paragraph (e)
under “Transfer Restrictions”. Until and including the 40 th day after the later of the commencement of the
offering of the Notes and the closing date for the offering of the Notes (the “Note Distribution Compliance
Period”), Book-Entry Interests in a Regulation S Global Note may be held only through Euroclear or
Clearstream, Luxembourg, unless transfer and delivery is made through a Rule 144A Global Note of the same
class. Prior to the expiration of the Note Distribution Compliance Period, a Book-Entry Interest in a Regulation
S Global Note of one class may be transferred to a person who takes delivery in the form of a Book-Entry
Interest in a Rule 144A Global Note of the same class only upon receipt by the Common Depository of written
certification from the transferor to the effect that such transfer is being made to a person whom the transferor
reasonably believes is purchasing for its own account or for an account or accounts as to which it exercises sole
investment discretion and that such person and such account or accounts is a qualified institutional buyer within
the meaning of Rule 144A, in each case in a transaction meeting the requirements of Rule 144A and in
accordance with any applicable securities laws of any state of the United States or any other jurisdiction.
Any Book-Entry Interest in a Regulation S Global Note of one class that is transferred to a person who
takes delivery in the form of a Book-Entry Interest in a Rule 144A Global Note of the same class will, upon
transfer, cease to be represented by a Book-Entry Interest in such Regulation S Global Note and will become
represented by a Book-Entry Interest in such Rule 144A Global Note and, accordingly, will thereafter be subject
to all transfer restrictions and other procedures applicable to Book-Entry Interests in a Rule 144A Global Note
for as long as it remains such a Book-Entry Interest. Any Book-Entry Interest in a Rule 144A Global Note of
one class that is transferred to a person who takes delivery in the form of a Book-Entry Interest in the
Regulation S Global Note of the same class will, upon transfer, cease to be represented by a Book-Entry Interest
in such Rule 144A Global Note and will become represented by a Book-Entry Interest in such Regulation S
Global Note and, accordingly, will thereafter be subject to all transfer restrictions and other procedures
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