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

cent. of the aggregate Principal Amount Outstanding of the Class E Notes) or so requested by an
Extraordinary Resolution of the holders of the Controlling Class immediately prior to giving the notice
referred to above the Issuer shall on such Payment Date, having given not more than 60 nor less than
30 days’ written notice ending on such Payment Date to the Note Trustee, the Paying Agents and to the
Noteholders in accordance with Condition 15 (Notice to Noteholders), redeem:
(i) all Class A Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class A Notes plus interest accrued and unpaid thereon; and
(ii) all Class X Notes, in an amount equal to the then aggregate Principal Amount Outstanding of the
Class X Notes plus interest accrued and unpaid thereon; and
(iii) all Class B Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class B Notes plus interest accrued and unpaid thereon; and
(iv) all Class C Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class C Notes plus interest accrued and unpaid thereon; and
(v) all Class D Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class D Notes plus interest accrued and unpaid thereon; and
(vi) all Class E Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class E Notes plus interest accrued and unpaid thereon; and
(vii) all Class V Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class V Notes plus interest accrued and unpaid thereon.
(d) Mandatory Redemption Upon Exercise of Call Option: Each of the Servicer and the Special Servicer
(and its assigns) is hereby granted a call option pursuant to which it may, at its sole discretion, purchase
the Libra Loan on any Payment Date provided that (i) written notice is given by the Servicer or the
Special Servicer, as applicable, to the Issuer, the Note Trustee and the Noteholders in accordance with
Condition 15 (Notice to Noteholders) not more than 60 nor less than 30 days’ prior to such purchase,
(ii) on the Determination Date relating to such Payment Date, no Note Enforcement Notice in relation
to the Notes has been served, (iii) the Servicer or Special Servicer has, prior to giving such notice,
certified to the Note Trustee that it will have the necessary funds to discharge on such Payment Date all
of the Issuer’s liabilities in respect of the Notes and any amounts required under the Issuer Cash
Management Agreement to be paid on such Payment Date which rank prior to, or pari passu with, the
Notes, which certificate shall be conclusive and binding and (iv) the then aggregate Principal Amount
Outstanding of the Notes is less than 10 per cent. of the aggregate Principal Amount Outstanding of the
Notes as at the Closing Date.
Upon the purchase of the Libra Loan, pursuant to such call option by the Servicer or Special Servicer
(or its assigns), the Issuer will be required to redeem on such Payment Date:
(i) all Class A Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class A Notes plus interest accrued and unpaid thereon; and
(ii) all Class X Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class X Notes plus interest accrued and unpaid thereon; and
(iii) all Class B Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class B Notes plus interest accrued and unpaid thereon; and
(iv) all Class C Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class C Notes plus interest accrued and unpaid thereon; and
(v) all Class D Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class D Notes plus interest accrued and unpaid thereon; and
(vi) all Class E Notes in an amount equal to the then aggregate Principal Amount Outstanding of the
Class E Notes plus interest accrued and unpaid thereon; and
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