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

or more Rule 144A Global Notes in respect of each class, in each
case in registered form. The Notes of each class offered and sold
outside the United States to non-U.S. persons in reliance on
Regulation S will initially be represented by one or more
Regulation S Global Notes in respect of such class, in each case in
registered form. The Rule 144A Global Notes and Regulation S
Global Notes will be registered in the name of the Common
Depository (or its nominee) for the account of Euroclear and
Clearstream, Luxembourg. Beneficial ownership interests in the
Notes will be shown on, and transfers thereof will be effected only
through, records maintained in book-entry form by Euroclear or
Clearstream, Luxembourg, and their respective participants. See
“Description of the Notes”.
Definitive Notes will be issued only in certain limited
circumstances. See “Terms and Conditions of the Notes—
Condition 2 (Definitive Notes)” and “Description of the Notes”.
The holders of the Class X Notes (the “Class X Noteholders”) and
the holders of the Class V Notes (the “Class V Noteholders”) have
no power to pass Extraordinary Resolutions and are not counted in
determining any quorum or majority for the purposes of holding
any meeting or passing any resolutions. See “Terms and
Conditions of the Notes—Condition 3(a)(iv) (Status and
Relationship Among the Notes)” and “—Condition 12(a) (Meetings
of Noteholders, Modification and Waiver and Substitution)”.
The Notes and interest thereon will not be obligations or
responsibilities of any person other than the Issuer. In particular,
the Notes will not be obligations or responsibilities of, or be
guaranteed, by the Loan Seller, the Original Lender, the Loan
Arranger or any associated body of any of the aforementioned, or
of or by the Manager, the Servicer, the Special Servicer, the Cash
Manager, the Note Trustee, the Corporate Services Provider, the
Paying Agents, the Agent Bank, the Registrar, the Advance
Provider, the Backup Advance Provider, the Swap Provider, the
Operating Bank, or the shareholders of any of them or the
shareholders of the Issuer, and none of such persons accepts any
liability whatsoever in respect of any failure by the Issuer to make
payment of any amount due on the Notes.
Distributions on the Notes
A. General................................................. On each Payment Date, as further described under “The Structure
of the Accounts—The Issuer’s Accounts” herein, principal and
interest collected with respect to the Libra Loan will be distributed
as follows:
Payment Order Class
1 st A and X (1)
2 nd B
3 rd C
4 th D
5 th E
(1) With respect to the Class X Notes, the priority above relates only to interest.
Notwithstanding the above, the Class A Notes, Class B Notes,
Class C Notes, Class D Notes and the Class E Notes will receive
pro rata distributions of Pro Rata Principal Prepayment Amounts,
provided that a Sequential Prepayment Trigger has not occurred.
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