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

(xvii) seventeenth, to pay to the Advance Provider or, as the case
may be, the Backup Advance Provider, any Subordinated
Advance Amounts with respect to the Libra Loan; and
(xviii) eighteenth, to pay any surplus to the Issuer and, if the
directors of the Issuer so resolve, and the Issuer may
lawfully do so, to pay dividends to shareholders in the
Issuer.
“Forward Swap Subordinated Amounts” means any termination
amount due to the Swap Provider under the Swap Agreement to the
extent relating to the Forward Swap.
On any Payment Date, including post-enforcement, on which
principal amounts are due and payable on the Class X Notes or the
Class V Notes, the Cash Manager will instruct the Operating Bank
to pay such amounts from the Class X Account and the Class V
Account, respectively, in accordance with the Conditions, the Note
Trust Deed and the Cash Management Agreement. On any
Payment Date, including post-enforcement, on which interest is
due and payable on the Class V Notes, such interest will be paid
from the Class V Account in accordance with the Conditions, the
Note Trust Deed and the Cash Management Agreement.
To the extent that Available Funds on any Payment Date, after
paying any interest then due and payable on the most senior class
of Notes then outstanding (other than the Class V Notes), are
insufficient to pay in full interest due on any outstanding class or
classes of more junior-ranking Notes (other than the Class V
Notes), the shortfall in the interest amount then due and payable
will be paid, in accordance with the Sequential Priority of
Payments, on one or more subsequent Payment Dates if Available
Funds on such Payment Date or Payment Dates are sufficient to
pay such amounts.
B. Distribution of the Pro Rata
Principal Prepayment Amount ............... On each Payment Date prior to a Sequential Prepayment Trigger in
respect of which the Principal Prepayment Amount is greater than
zero, the Cash Manager will allocate and distribute the Pro Rata
Principal Prepayment Amount from Available Funds in the
Collection Account pro rata to each class of Notes then
outstanding (other than the Class X Notes and the Class V Notes)
based upon the respective Principal Amount Outstanding of each
such class of Notes and the aggregate Principal Amount
Outstanding of the Notes (other than the Class X Notes and the
Class V Notes) on such Payment Date, in each case after taking
into account application of (i) the Principal Amortisation Amount
and (ii) the Pre-Trigger Sequential Principal Prepayment Amount
for such Payment Date in accordance with the Sequential Priority
of Payments.
C. Expenses ............................................... Expenses with respect to the Libra Loan and the Notes are required
to be calculated and paid by the Cash Manager prior to any
distribution to the Noteholders in the manner and priority set forth
under “The Structure of the Accounts—The Issuer’s Accounts”
below.
Security for the Notes................................ The obligations of the Issuer to Secured Parties will be secured,
inter alia, by and pursuant to a deed of charge and assignment (the
“Deed of Charge and Assignment”) governed by English law or,
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