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Triaxx Prime CDO07-1 (IRSH)

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Wednesday 09 January, 2019

Triaxx Prime CDO07-1

Notice of Event of Default to Senior Noteholders

RNS Number : 6010M
Triaxx Prime CDO 2007-1
09 January 2019

Notice to Holders of Notes of Triaxx Prime CDO 2007-1, Ltd. and, as applicable, Triaxx Prime CDO 2007-1, LLC




Reg S


Rule 144A


Reg S


Rule 144A


Class A-1T Notes





Class A-1D Notes





Class A-2 Notes





Class B Notes





Class RM Notes







and notice to the parties listed on Schedule A attached hereto.


Notice of Event of Default




Reference is made to the Indenture, dated as of March 29, 2007 (as amended through the date hereof, the "Indenture"), among Triaxx Prime CDO 2007-1, Ltd. as issuer (the "Issuer"), Triaxx Prime CDO 2007-1, LLC, as co-issuer, and U.S. Bank National Association (successor to Bank of America, N.A. (successor by merger to LaSalle Bank National Association)) ("U.S. Bank"), as trustee (in such capacity, the "Trustee").  Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Indenture.

Section 5.1(a) of the Indenture provides, in pertinent part, that an Indenture Event of Default will occur upon a default in the payment of any accrued interest on any Class A-1 Note, A-2 Note or Class B Note when the same becomes due and payable, and a continuation of such default for a period of three Business Days. 

On the Payment Date occurring on January 2, 2019, a default in the payment of accrued interest due and payable on the Class B Notes occurred.  Such default has continued for three Business Days.  Accordingly, pursuant to Section 6.2 of the Indenture, the Trustee hereby provides notice of the occurrence of an Indenture Event of Default pursuant to Section 5.1(a) of the Indenture.

In addressing inquiries that may be directed to it, the Trustee may conclude that a specific response to a particular inquiry from an individual Noteholder is not consistent with equal and full dissemination of information to all Noteholders.  Noteholders should not rely on the Trustee as their sole source of information. The Trustee makes no recommendations, and gives no investment, tax or legal advice.  Each Noteholder should seek advice from its own counsel and advisors based on the Noteholder's particular circumstances.

The Trustee expressly reserves all rights under the Indenture, including without limitation its right to payment in full of all fees and costs (including, without limitation, fees and costs incurred or to be incurred by the Trustee in performing its duties, indemnities owing or to become owing to the Trustee, compensation for Trustee time spent and reimbursement for fees and costs of counsel and other agents it employs in performing its duties or to pursue remedies) prior to any distribution to Noteholders or other parties, as provided in and subject to the applicable terms of the Indenture, and its right, prior to exercising any rights or powers vested in it by the Indenture at the request or direction of any of the Noteholders, to receive security or indemnity satisfactory to it against all costs, expenses and liabilities which might be incurred in compliance therewith; and all rights that may be available to it under applicable law or otherwise.

Noteholders with questions regarding this notice should direct their inquiries, in writing, to: Ken Sliwa, U.S. Bank National Association, 190 South LaSalle St., 8th Floor, Chicago, IL 60603, Attention: Global Corporate Trust-Triaxx Prime CDO 2007-1, Ltd., or via email at [email protected].


U.S. BANK NATIONAL ASSOCIATION,                                         January 8, 2019

as TrustEE


This announcement has been issued through the Companies Announcement Service of Euronext Dublin.


Schedule A


Triaxx Prime CDO 2007-1, Ltd.

c/o Intertrust SPV Ltd.

190 Elgin Ave, George Town

Grand Cayman KY1-9005

Cayman Islands

Attention:  The Directors


Triaxx Prime CDO 2007-1, LLC
c/o Puglisi & Associates

850 Library Ave, Suite 204

Newark, DE 19711

Attention:  Donald Puglisi, Esq.


Triaxx Asset Management LLC

459 Broadway Ave, 4th Floor

New York, NY 10013


Standard & Poor's, a division of The McGraw-Hill Companies, Inc.

55 Water Street, 41st Floor

New York, NY 10041

Attention: CDO Surveillance
Email: [email protected]


Moody's Investors Service

7 World Trade Center

250 Greenwich Street

New York, NY 10007

Attention: CBO/CLO Monitoring Group

Facsimile:  (212) 553-0355

Email: [email protected]


U.S. Bank National Association, as Fiscal Agent

190 South LaSalle St., 8th Floor
Chicago, IL 60603

Attention:  Global Corporate Trust --Triaxx Prime CDO 2007-1, Ltd.


Euronext Dublin

28 Anglesea Street

Dublin 2, Ireland

Via website submission via


[1]  The CUSIP/ISIN numbers appearing herein are included solely for the convenience of the Holders.  The Trustee is not responsible for the selection or use of CUSIP/ISIN numbers, or for the accuracy or correctness of CUSIP/ISIN numbers printed on any Securities or as indicated in this notice.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit

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