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

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Market Abuse Directive....................................... 68 Master Definitions Schedule...................... 154, 160 Material Adverse Effect....................................... 78 Material Loan Event of Default........... 33, 108, 168 Maturity Date....................................... 27, 143, 161 Member State....................................................... 67 Member States..................................................... 67 Minimum Swap Provider Ratings ..................... 115 MIP Loan........................................................... 130 MIP Property ..................................................... 130 Modelling Assumptions..................................... 144 Moody’s......................................................... 1, 182 Mortgage............................................ 11, 18, 38, 79 Mortgage of Shares.............................................. 79 N NAI.............................................................. 28, 170 NAI Amounts .............................................. 28, 170 National Care Standards ...................................... 40 National Minimum Standards.............................. 39 National Minimum Wage .................................... 50 Net Mortgage Rate....................................... 26, 165 Net Value............................................................. 79 New Tenancies .................................................. 190 Nonrecoverable Advance............................. 21, 125 non-United States holder ................................... 214 Note Distribution Compliance Period................ 152 Note Enforcement Notice .................................. 173 Note Event of Default........................................ 173 Note Factor ........................................................ 170 Note Trust Deed..................................... 14, 71, 154 Note Trustee .......................................... 14, 71, 154 Noteholder ................................................. 154, 157 Noteholders.................................................. 16, 154 Notes...................................................... 1, 154, 157 O obligor ............................................................... 187 Obligor................................................................. 79 Obligors ............................................................... 84 Occupational Lease.............................................. 79 OID.................................................................... 214 Operating Bank...................................... 15, 71, 137 Option Price....................................................... 129 Order...................................................................... 5 Original Lender............................ 3, 14, 17, 71, 101 Original Lender Information.................................. 3 Overriding Lease ................................................. 79 Overriding Leases................................................ 51 Overriding Tenant................................................ 51 Overview Report.................................................. 79 Owner ................................................................ 183 P P&I Advances.............................................. 20, 124 P&I Required Amounts ............................... 21, 124 participants ........................................................ 150 Parties in Interest ............................................... 220 paying agent....................................................... 212 Paying Agent........................................................ 15 Paying Agents.............................................. 15, 154 Payment Date..................................... 1, 16, 25, 163 Periodic Expenses................................................ 26 Periodic Fee Parties ............................................. 26 Periodic Fee Party................................................ 26 Permitted Investments........................................ 112 PFIC................................................................... 218 PIK Facility Borrower.................................... 79, 84 PIK Facility Finance Documents ......................... 79 PIK Facility Finance Parties ................................ 79 PIK Facility Intercreditor Deed...................... 58, 94 PIK Facility Lender ....................................... 79, 90 PIK Facility Loan......................... 11, 18, 58, 79, 90 PIK Facility Loan Agreement........................ 79, 90 PIK Facility Purchase Event of Default............... 95 Plan .................................................................... 226 Plan Asset Entity................................................ 226 Plan Asset Regulations ...................................... 220 Plans................................................................... 220 Portfolio Interest Obligation .............................. 112 pounds.................................................................. 10 preferential creditors .......................................... 187 Prepayment Assumption .................................... 215 Prepayment Charge.............................................. 79 Pre-Trigger Sequential Principal Prepayment Amount........................... 32, 107, 168 Principal Amortisation Amount........... 32, 107, 167 Principal Amount Outstanding..................... 27, 170 Principal Distribution Amount............. 31, 106, 167 Principal Paying Agent .......................... 15, 72, 154 Principal Prepayment Amount............. 32, 107, 167 Principal Tenant............................................. 50, 79 Principal Tenant Lease......................................... 97 Principal Window ................................................ 12 Pro Rata Principal Prepayment Amount32, 107, 167, 168 projected annual finance costs ............................. 76 projected annual rental......................................... 76 Propco 1............................................................... 80 Propco 10 ............................................................. 80 Propco 11 ............................................................. 80 Propco 12 ............................................................. 80 Propco 13 ............................................................. 80 Propco 14 ............................................................. 80 Propco 15 ............................................................. 80 Propco 2............................................................... 80 Propco 3............................................................... 80 Propco 4............................................................... 80 Propco 5............................................................... 80 Propco 6............................................................... 80 Propco 7............................................................... 80 Propco 8............................................................... 80 Propco 9............................................................... 80 Properties ............................................. 1, 11, 18, 38 Property............................................................ 1, 80 Property Owner.................................................... 80 Property Owners .................................................. 80 Proportion Ratio................................... 22, 120, 184 Prospectus.............................................................. 1 232
Prospectus Directive.......................................... 1, 6 PTCE ................................................................. 220 Purchase Event of Default ................................... 94 Purchase Option................................................. 129 Q QEF ................................................................... 218 Qualified Institutional Buyers...................... 30, 223 QUALIFIED INSTITUTIONAL BUYERS.............................................................. 1 R Rate of Interest ............................................ 25, 163 Rates of Interest................................................. 163 Rating Agencies................................................. 182 RC(S)A................................................................ 40 receiving agent................................................... 212 Recharacterised Note......................................... 218 Record Date................................................. 16, 172 Reference Banks................................................ 164 Register.............................................................. 171 Registered.......................................................... 112 Registered Beds ................................................... 80 Registers of Scotland........................................... 55 Registrar ........................................................ 15, 72 Regulation S .................................................. 3, 155 Regulation S Definitive Notes........................... 156 Regulation S Global Note...................................... 3 Regulation S Global Notes ............................ 3, 155 Reimbursement Rate.................................. 108, 126 Related Party ..................................................... 129 Related Security................................................... 81 Relevant Contract ................................................ 91 relevant date....................................................... 173 Relevant Documents.......................................... 135 Relevant Implementation Date .............................. 6 Relevant Margin .......................................... 25, 165 Relevant Member State ................................. 6, 223 relevant persons ..................................................... 5 Rent Account....................................................... 73 Rent Assignation ............................................... 198 Rent Payment Dates............................................. 98 Rental Income...................................................... 81 Report on Title..................................................... 81 Representative ................................................... 120 Required Rating................................................. 140 Required Ratings ............................................... 140 Requisite Rating .................................................. 81 Residual Entity .................................................. 210 Restricted Book-Entry Interests......................... 155 Revenue Commissioners ..................................... 63 Revenue Priority Amount.................................. 108 Revenue Priority Amounts .................................. 21 RSA 421-B ............................................................ 4 Rule 144A...................................................... 3, 155 RULE 144A........................................................... 1 Rule 144A Definitive Notes .............................. 156 Rule 144A Euroclear/Clearstream Holders ....... 171 Rule 144A Global Note ......................................... 3 Rule 144A Global Notes................................ 3, 155 S S&P................................................................ 1, 182 Scenario 1 .......................................................... 144 Scenario 2 .......................................................... 144 Scenario 3 .......................................................... 144 Scenario 4 .......................................................... 144 Scenarios............................................................ 144 Scottish Property.................................................. 48 SCRC ................................................................... 40 SDRT ................................................................. 213 Second Trigger Event ........................................ 115 Section 246 ........................................................ 209 Secured Creditor .................................................. 90 Secured Liabilities ......................................... 15, 90 Secured Parties............................................. 14, 160 Securities Act....................................... 30, 155, 223 SECURITIES ACT........................................ 1, 225 Security................................................................ 81 Security Agent ..................................................... 15 Security Agreement ............................................. 81 Senior Debt .......................................................... 92 Senior Intercreditor Deed................... 11, 18, 58, 92 Sequential Prepayment Trigger............ 32, 108, 168 Sequential Principal Distribution Amount32, 107, 168 Sequential Priority of Payments................... 33, 110 Servicer.......................................................... 14, 71 Servicing Advances ..................................... 21, 124 Servicing Agreement ........................................... 19 Servicing Entity ................................................... 68 Servicing Fee ............................................... 19, 133 Servicing Standard............................................. 118 Servicing Transfer Event ................................... 118 Share Declaration of Trust................................. 147 Shareholder .................................. 11, 18, 58, 81, 84 Shareholder Loan................................................. 81 Similar Law................................................ 220, 226 SMMEA............................................................. 222 SONIA ............................................................... 108 Special Servicer ................................................... 15 Special Servicing Fee................................... 19, 133 Specially Serviced Loan .............................. 19, 119 Spot Swap .............................................. 20, 45, 114 Spot Swap Termination Payments ..................... 114 SPV...................................................................... 43 Stabilising Manager ............................................. 10 Statement to Noteholders................................... 138 Statutory Exemption .......................................... 221 sterling ................................................................. 10 Sterling................................................................. 10 Sterling Overnight Interbank Average............... 108 Subordinate Debt ......................... 11, 18, 58, 87, 92 Subordinate Lender.................................. 18, 58, 92 Subordinate Lender Control Valuation Event ................................................................ 121 Subordinate Lenders ................................ 18, 58, 92 Subordinate Tranche .................... 11, 18, 58, 87, 92 Subordinated Advance Amounts ....................... 109 233
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OFFERING CIRCULAR £638,100,000 Tit
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NOTICE TO INVESTORS The Notes of ea
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TRUE, COMPLETE AND NOT MISLEADING.
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(a) to legal entities which are aut
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all materials of any kind (includin
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EXECUTIVE SUMMARY This Executive Su
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STRUCTURE CHART The diagram below i
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Special Servicer ..................
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• relate to a particular Payment
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(b) charges over accounts into whic
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Period (such amounts, collectively,
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espect of the timing or manner of e
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Principal and interest on the Class
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interest determined by reference to
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The Class V Notes will be subject t
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Prospectus to be approved. Applicat
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(b) NAI Amounts have been allocated
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(xvii) seventeenth, to pay to the A
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1984, as amended. If your investmen
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The terms of the leases might affec
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Changes in Medical Practice: The me
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law fixed charges. The security ove
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Tenant Operator Group (1) Southern
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contained in the Security Agreement
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(b) serving a notice of default (in
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• in connection with its acquisit
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Under the terms of the Credit Agree
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Properties. However, there can be n
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until the premises are again render
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Pursuant to the Guarantee and Subor
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The enforcement of security in Scot
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The Notes and interest thereon will
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however, there is a conflict betwee
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profits or losses could arise in th
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including financing relationships,
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THE PARTIES Issuer Titan Europe 200
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THE LIBRA LOAN AND PROPERTIES Gener
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which (whether alone or in combinat
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(v) projected net rental income pay
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(d) any right or remedy of a Financ
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Care Standards Act 2000 (for Proper
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Properties located in Northern Irel
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Borrower Group Structure Chart (1)
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amount of: (i) £216,000 as an upfr
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subject to matters disclosed in the
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(b) first fixed charges over its in
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Loan Name Principal Amount Libra Lo
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there will be nothing to prevent th
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the Related Security has become enf
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Insurance: The landlord is to insur
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Properties by Country Country Numbe
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(l) Subject as set out in paragraph
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forfeited or irritated on bankruptc
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(C) any payment made by the Loan Ar
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Moneyline/Telerate Page 3937 or on
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(xv) fifteenth, to pay all principa
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DESCRIPTION OF THE NOTE TRUST DEED
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Each Swap Transaction and Basis Swa
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Credit Suisse Group 100% Credit Sui
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(f) except with respect to matters
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A “Subordinate Lender Control Val
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(h) any action to bring a Property
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“Assumed Scheduled Payment” mea
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(b) in the event the related Proper
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Rights of PIK Facility Lenders” a
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Provider or the Backup Advance Prov
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Servicing Fee, Special Servicing Fe
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purporting to give notice) provided
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CASH MANAGEMENT Cash Manager Pursua
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The Cash Manager will be permitted
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ESTIMATED AVERAGE LIVES OF THE NOTE
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available to an investor in such No
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Class D Payment Date Scenario 1 Sce
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Loan Capital £ Class A Commercial
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2. Notes to the financial informati
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Rule 144A Global Note directly thro
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applicable to Book-Entry Interests
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the time being of the Note Trustee,
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a new Definitive Note in respect of
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provided that paragraphs (A) to (E)
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4. Covenants Issuer will not (or th
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5. Interest the Special Servicer, a
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and (ii) the Class X Net Weighted A
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outstanding is redeemed in full pur
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cent. of the aggregate Principal Am
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Outstanding and Note Factor), and e
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elevant authorities for the amount
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other person as it may think fit to
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(e) The enforcement of the security
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Noteholders and/or the Class D Note
Page 181 and 182: senior class of Notes then outstand
Page 183 and 184: 17. Privity of Contract The Notes d
Page 185 and 186: OFFERING EXPENSES Fees and expenses
Page 187 and 188: Floating Charge. A lender will typi
Page 189 and 190: Enforcement of Security in England
Page 191 and 192: Under Section 6 of the Law of Distr
Page 193 and 194: the same priority in respect of any
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Page 197 and 198: incorporated overseas. As regards s
Page 199 and 200: Right of redemption. Under Section
Page 201 and 202: Floating Charge. Under Northern Iri
Page 203 and 204: shares. The right to the former is
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Page 207 and 208: IRISH TAXATION The following is a s
Page 209 and 210: There can be no assurance that the
Page 211 and 212: individual resident in another Memb
Page 213 and 214: y the purchaser in respect of the C
Page 215 and 216: A Note will be considered issued wi
Page 217 and 218: which will not be treated as intere
Page 219 and 220: included in income. Any gain from t
Page 221 and 222: PTCE 96-23, which exempts certain t
Page 223 and 224: SUBSCRIPTION AND SALE Credit Suisse
Page 225 and 226: TRANSFER RESTRICTIONS Because of th
Page 227 and 228: GENERAL INFORMATION 1. The issue of
Page 229 and 230: APPENDIX 1 INDEX OF DEFINED TERMS
Page 231: Financial Regulator in Ireland ....
Page 235 and 236: APPENDIX 2 FORM OF STATEMENT TO NOT
Page 237 and 238: Titan Europe 2007-1 (NHP) Limited C
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Titan Europe 2007-1 (NHP) Limited C
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APPENDIX 4 THE BORROWER A. Informat
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REGISTERED AND HEAD OFFICE OF THE I
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Titan Europe 2007-1 (NHP) Limited - Irish Stock Exchange

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