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

elevant authorities for the amount so required to be withheld or deducted. Neither the Issuer nor any
Paying Agent will be obliged to make any additional payments to holders of Notes in respect of such
withholding or deduction.
9. Prescription
Claims for principal in respect of Global Notes shall become void unless the relevant Global Notes are
presented for payment within ten years of the appropriate relevant date. Claims for interest in respect of
Global Notes shall become void unless the relevant Global Notes are presented for payment within five
years of the appropriate relevant date.
Claims for principal and interest in respect of Definitive Notes shall become void unless made within ten
years, in the case of principal, and five years, in the case of interest, of the appropriate relevant date.
In this Condition 9, the “relevant date” means the date on which a payment first becomes due, but if the
full amount of the moneys payable has not been received by the relevant Paying Agent or the Note Trustee
on or prior to such date, it means the date on which the full amount of such moneys shall have been so
received, and notice to that effect shall have been duly given to the Noteholders in accordance with
Condition 15 (Notice to Noteholders).
10. Note Events of Default
(a) Eligible Noteholders: If any of the events mentioned in sub-paragraphs (A) to (E) inclusive below
shall occur (each such event being, a “Note Event of Default”) the Note Trustee at its absolute
discretion may, and if so requested in writing by the “Eligible Noteholders”, being:
(i) the holders of not less than 25 per cent. in aggregate of the Principal Amount Outstanding of the
Class A Notes then outstanding; or
(ii) if there are no Class A Notes outstanding, the holders of not less than 25 per cent. in aggregate of
the Principal Amount Outstanding of the Class B Notes then outstanding; or
(iii) if there are no Class A Notes and Class B Notes outstanding, the holders of not less than 25 per
cent. in aggregate of the Principal Amount Outstanding of the Class C Notes then outstanding; or
(iv) if there are no Class A Notes, Class B Notes and Class C Notes outstanding, the holders of not less
than 25 per cent. in aggregate of the Principal Amount Outstanding of the Class D Notes then
outstanding; or
(v) if there are no Class A Notes, Class B Notes, Class C Notes and Class D Notes outstanding, the
holders of not less than 25 per cent. in aggregate of the Principal Amount Outstanding of the Class
E Notes then outstanding,
provided that, if the Principal Amount Outstanding of any class of Notes the holders of which are, for
the time being, the most senior class of Notes outstanding is less than 10 per cent. of the Principal
Amount Outstanding of such class as at the Closing Date, the holders of the Notes of such class
together with the next most senior class of Notes then outstanding (if any) (other than the Class X
Notes and the Class V Notes) shall together constitute the Eligible Noteholders and any direction to be
given by the Eligible Noteholders in such circumstances shall be given by the holders of the Notes of
both such classes acting together as a single class; or, if so directed by or pursuant to an Extraordinary
Resolution of the most senior class of Noteholders (other than the Class X Noteholders or the Class V
Noteholders) then outstanding (or if the Principal Amount Outstanding of any class of Notes the
holders of which are, for the time being, the most senior class of Notes outstanding has been reduced to
less than 10 per cent. of the Principal Amount Outstanding of such class as at the Closing Date, an
Extraordinary Resolution of the holders of the Notes of such class together with the holders of the next
most senior class of Notes then outstanding (if any) (other than the Class X Notes and the Class V
Notes) voting together as a single class) shall, and in any case aforesaid, subject to the Note Trustee
being indemnified and/or secured to its satisfaction, give notice (a “Note Enforcement Notice”) to the
Issuer declaring all the Notes to be due and repayable:
(A) default is made for a period of three days in the payment of the principal of, or default is made
for a period of five days in the payment of interest on, any Class A Note; or, if there are no
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