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

espect of the timing or manner of enforcement of any Related
Security with respect to the Libra Loan. However, the Controlling
Party will have certain consultation and approval rights on certain
matters with respect to the Libra Loan and will be entitled to
instruct the Issuer or the Note Trustee to remove and replace the
Special Servicer, each as more fully described in “Servicing—
Rights of the Controlling Party” and “—Termination of
Appointment of Servicer or Special Servicer” below.
The Notes
Status and Form......................................... The Notes will be issued in registered global form in minimum
denominations of £50,000 and certain integral multiples in excess
thereof, as described below. Each class of Notes will have the
initial principal amount set forth below:
Class A £435,850,000
Class X £50,000
Class B £42,150,000
Class C £42,000,000
Class D £58,000,000
Class E £60,000,000
Class V £50,000
The Notes within each class will rank pari passu and pro rata
without any preference or priority among themselves. With respect
to the Class X Notes, such ranking will relate only to payments of
interest, and, with respect to the Class V Notes, such ranking will
relate only to payments of Class V Amounts.
The Notes (other than the Class X Notes (with respect to principal
only) and the Class V Notes) will all share the same security, but,
in the event of the security being enforced, principal and interest
due in respect of the Class A Notes will rank in priority to principal
and interest due in respect of the Class B Notes. Principal and
interest due in respect of the Class B Notes will rank in priority to
principal and interest due in respect of the Class C Notes, principal
and interest due in respect of the Class C Notes will rank in priority
to principal and interest due in respect of the Class D Notes,
principal and interest due in respect of the Class D Notes will rank
in priority to principal and interest due in respect of the Class E
Notes. Interest due in respect of the Class A Notes and the Class X
Notes will rank pari passu and pro rata without any preference or
priority among themselves. The Class X Noteholders will be paid
principal when due from a separate account (the “Class X
Account”), which provides additional security for only the Class X
Notes and into which the Issuer will deposit £50,000 on the
Closing Date. No other class of Notes will be entitled to payment
from the £50,000 in the Class X Account and therefore, the Class X
Notes do not rank against any other class of Notes with respect to
any principal amounts distributable from the Collection Account.
The Class V Noteholders will be paid principal and interest when
due from a separate account (the “Class V Account”), which
provides additional security for the Class V Notes and into which
the Issuer will deposit £50,000 on the Closing Date. The Class V
Notes, therefore, do not rank against any other class of Notes with
respect to any principal or interest amounts distributable from the
Collection Account.
The Notes (other than the Class V Notes) of each class offered and
sold in reliance on Rule 144A will initially be represented by one
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