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

component of any payment received in connection with the
sale of the Libra Loan pursuant to the Purchase Option or to a
Subordinate Lender under the Subordinate Debt, if applicable,
in each case as described under “Servicing—Enforcement of
the Libra Loan” and “The Libra Loan and Properties—Senior
Intercreditor Deed—Purchase Right of Subordinate Lenders”),
in any case, attributable to the Collection Period related to such
Payment Date; provided that after an enforcement of the security
granted pursuant to the Deed of Charge and Assignment in
accordance with its terms, all amounts remaining as Available
Funds in the Collection Account will be considered Principal
Distribution Amounts.
The “Principal Prepayment Amount” for any Payment Date will
be equal to the sum of: (without duplication) any voluntary or
mandatory principal prepayments (including any premium received
in connection with any property release) or Balloon Payment but
excluding, in each case, amortisation actually received under the
Libra Loan during the Collection Period related to such Payment
Date.
The “Principal Amortisation Amount” for any Payment Date will
be equal to the Principal Distribution Amount for such Payment
Date less the Principal Prepayment Amount for such Payment
Date.
The “Sequential Principal Distribution Amount” for any
Payment Date will be equal to the excess of the Principal
Distribution Amount received for the Libra Loan for such Payment
Date over the Pro Rata Principal Prepayment Amount for such
Payment Date.
The “Pro Rata Principal Prepayment Amount” and the “Pre-
Trigger Sequential Principal Prepayment Amount” for any
Payment Date will be equal to the lesser of:
(a) 50 per cent. of the Principal Prepayment Amount for such
Payment Date; or
(b) 50 per cent. of an amount that, if applied against the aggregate
Principal Amount Outstanding of the Notes (other than the
Class X Notes and the Class V Notes) as at such Payment Date
would, after application of any Principal Amortisation Amount
on such Payment Date, reduce such Principal Amount
Outstanding to 50 per cent. of the Principal Amount
Outstanding of the Notes (other than the Class X Notes and the
Class V Notes) as at the Closing Date.
Notwithstanding the foregoing if a Sequential Prepayment Trigger
exists on the Determination Date immediately preceding such
Payment Date, the Pro Rata Principal Prepayment Amount and the
Pre-Trigger Sequential Principal Prepayment Amount for such
Payment Date will be zero.
“Sequential Prepayment Trigger” means, on any Determination
Date, the existence of any of the following:
(a) a Material Loan Event of Default under the Credit Agreement
relating to the Libra Loan; or
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