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

• relate to a particular Payment Date,
• begin when the prior Collection Period ends (or in the case of
the first Collection Period, will begin on the Closing Date),
and
• end at 5:00 p.m. (London time) on the 19 th calendar day of the
same month as such Payment Date.
Interest Accrual Period .............................. The amount of interest payable with respect to each class of Notes
on any Payment Date will be related to the interest accrued during
the related Interest Accrual Period. The “Interest Accrual
Period” in respect of any Payment Date will be the period from
and including the 20 th calendar day of each January, April, July and
October (each, an “Interest Accrual Date”) up to, but excluding,
the next following Interest Accrual Date, provided that the first
Interest Accrual Period will begin on the Closing Date.
Acquisition of the Libra Loan ................... On 3 April 2007, the Libra Whole Loan was transferred from CS
Funding 1 Limited, which was the “Original Lender”, to Libra
2007 (NHP) Limited, the “Loan Seller”.
On the Closing Date, the Issuer will enter into an English law Loan
Sale Agreement (the “Loan Sale Agreement”) relating to the Libra
Loan with, among others, the Loan Seller, the Loan Arranger and
the Note Trustee to acquire the Libra Loan, together with a
beneficial interest in the Related Security, from the Loan Seller.
Representations and Warranties ................ The Loan Sale Agreement will contain certain representations and
warranties given by the Loan Arranger to the Issuer in relation to
the Libra Loan and the Related Security. See “The Libra Loan and
Properties—Loan Sale Agreement—Representations and
Warranties”. The Loan Arranger will be required, if there has been
a breach of any such warranty under the Loan Sale Agreement that
materially and adversely affects the value of the Libra Loan and
such breach is not capable of remedy, or, if capable of remedy, has
not been remedied within 90 days of the Servicer or the Special
Servicer notifying the Loan Arranger of such breach (or such
longer period as the Issuer, the Servicer, Special Servicer (in the
case of the Libra Loan becoming a Specially Serviced Loan) may
agree), taking into account a written confirmation from S&P and
Fitch (following notification to all the Rating Agencies) that no
Adverse Rating Event will occur as a result of any such extended
period or, if a Rating Agency has notified the Servicer or Special
Servicer that, as a matter of policy, it will not issue such a
confirmation, the Servicer or the Special Servicer, as applicable,
determines that such extension would not be inconsistent with the
Servicing Standard, to repurchase (or participate in) the Libra Loan
from the Issuer.
In the event the Loan Arranger is required to repurchase the Libra
Loan, the repurchase price to be paid by the Loan Arranger will be
an amount equal to 100 per cent. of the then outstanding principal
balance of the Libra Loan, plus accrued interest and outstanding
expenses plus any amount of outstanding Servicing Advances and
P&I Advances (including interest) made with respect to the Libra
Loan and, without duplication, all accrued and unpaid Servicing
Fees or Special Servicing Fees allocable to the Libra Loan. Any
such repurchase (or participation) would result in a redemption of
the Notes in accordance with Condition 6(b) (Mandatory
Redemption from Principal Distribution Amounts, Sequential
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