424B5 1 file1.htm

Filed Pursuant to Rule 424(B)(5)
Registration File No. 333-131262-06

PROSPECTUS SUPPLEMENT
(To accompany prospectus dated October 19, 2006)

$7,070,615,000 (Approximate)
(Offered Certificates)

Wachovia Bank Commercial Mortgage Trust
Commercial Mortgage Pass-Through Certificates
Series 2007-C30

(Issuing Entity)

Wachovia Commercial Mortgage Securities, Inc.
(Depositor)

Wachovia Bank, National Association
Artesia Mortgage Capital Corporation

(Sponsors)

    


You should carefully consider the risk factors beginning on page S-53 of this prospectus supplement and on page 14 of the accompanying prospectus.
Neither the offered certificates nor the underlying mortgage loans are insured or guaranteed by any government agency or instrumentality.
The offered certificates will represent interests in the issuing entity only. They will not represent obligations of the sponsors, the depositor, any of their respective affiliates or any other party. The offered certificates will not be listed on any national securities exchange or any automated quotation system of any registered securities association.
This prospectus supplement may be used to offer and sell the offered certificates only if it is accompanied by the prospectus dated October 19, 2006.

The trust fund:

•  As of March 11, 2007, the mortgage loans included in the trust fund will have an aggregate principal balance of approximately $7,903,498,737.
•  The trust fund will consist of a pool of 263 fixed rate mortgage loans.
•  The mortgage loans are secured by first liens on commercial and multifamily properties.
•  All of the mortgage loans were originated or acquired by Wachovia Bank, National Association, Artesia Mortgage Capital Corporation and Column Financial, Inc.

The certificates:

•  The trust fund will issue 32 classes of certificates.
•  Only the 14 classes of offered certificates described in the following table are being offered by this prospectus supplement and the accompanying prospectus. Distributions on the certificates will occur on a monthly basis, commencing April 2007.
•  The only credit support for any class of offered certificates will consist of the subordination of the classes of certificates, if any, having a lower payment priority.

    


 
Class Original
Certificate
Balance(1)
Percentage of
Cut-Off Date
Pool Balance
Pass-Through
Rate
Assumed Final
Distribution Dates(2)
CUSIP No. Expected Fitch/
Moody’s/S&P
Rating(3)
Class A-1 $ 35,195,000
0.445%     5.031% November 15, 2011 92978QAA5 AAA/Aaa/AAA
Class A-2 $ 100,000,000
1.265%     5.167% January 15, 2012 92978QAB3 AAA/Aaa/AAA
Class A-3 $ 908,744,000
11.498%     5.246% March 15, 2012 92978QAC1 AAA/Aaa/AAA
Class A-4 $ 195,542,000
2.474%     5.305% March 15, 2014 92978QAE7 AAA/Aaa/AAA
Class A-PB $ 126,906.000
1.606%     5.294% September 15, 2016 92978QAD9 AAA/Aaa/AAA
Class A-5 $ 1,876,383,000
23.741%     5.342% January 15, 2017 92978QCB1 AAA/Aaa/AAA
Class A-1A $ 2,289,679,000
28.970%     5.334%(4) January 15, 2017 92978QAF4 AAA/Aaa/AAA
Class A-M $ 540,349,000
6.837%     5.383% February 15, 2017 92978QAH0 AAA/Aaa/AAA
Class A-J $ 671,798,000
8.500%     5.413%(4) February 15, 2017 92978QAJ6 AAA/Aaa/AAA
Class B $ 49,397,000
0.625%     5.463%(4) February 15, 2017 92978QAK3 AA+/Aa1/AA+
Class C $ 79,035,000
1.000%     5.483%(4) February 15, 2017 92978QAL1 AA/Aa2/AA
Class D $ 69,155,000
0.875%     5.513%(4) March 15, 2017 92978QAM9 AA−/Aa3/AA−
Class E $ 59,277,000
0.750%     5.553%(4) March 15, 2017 92978QAN7 A+/A1/A+
Class F $ 69,155,000
0.875%     5.603%(4) March 15, 2017 92978QAP2 A/A2/A
(Footnotes explaining the table are on page S-3)

Neither the SEC nor any state securities commission has approved or disapproved the offered certificates or has determined that this prospectus supplement or the accompanying prospectus is accurate or complete. Any representation to the contrary is unlawful.

Wachovia Capital Markets, LLC is acting as lead manager for this offering. Credit Suisse Securities (USA) LLC is acting as sole bookrunner with respect to 7.2% of the Class A-5 certificates. Wachovia Capital Markets, LLC is acting as sole bookrunner with respect to the remainder of the Class A-5 certificates and all other classes of offered certificates. Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as co-managers for this offering. Wachovia Capital Markets, LLC, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are required to purchase the offered certificates from us, subject to certain conditions. The underwriters will offer the offered certificates to the public from time to time in negotiated transactions or otherwise at varying prices to be determined at the time of sale. It is intended that Wachovia Securities International Limited will act as a member of the selling group on behalf of Wachovia Capital Markets, LLC and may sell offered certificates on behalf of Wachovia Capital Markets, LLC in certain jurisdictions. We expect to receive from this offering approximately 100.49% of the initial certificate balance of the offered certificates, plus accrued interest from March 1, 2007, before deducting expenses.

We expect that delivery of the offered certificates will be made in book-entry form on or about March 28, 2007.

WACHOVIA SECURITIES

Credit Suisse

Goldman, Sachs & Co.

Merrill Lynch & Co.

March 14, 2007




Table of Contents

IMPORTANT NOTICE ABOUT INFORMATION PRESENTED IN THIS
PROSPECTUS SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS

We provide information to you about the offered certificates in two separate documents that progressively provide more detail: (a) the accompanying prospectus, which provides general information, some of which may not apply to the offered certificates and (b) this prospectus supplement, which describes the specific terms of the offered certificates. You should read both this prospectus supplement and the prospectus before investing in any of the offered certificates.

You should rely only on the information contained in this prospectus supplement and the accompanying prospectus. We have not authorized anyone to provide you with information that is different. The information in this document may only be accurate as of the date of this document.

This prospectus supplement begins with several introductory sections describing the offered certificates and the trust fund in abbreviated form:

•  SUMMARY OF PROSPECTUS SUPPLEMENT, commencing on page S-6 of this prospectus supplement, which gives a brief introduction of the key features of the offered certificates and a description of the mortgage loans included in the trust fund; and
•  RISK FACTORS, commencing on page S-53 of this prospectus supplement, which describes risks that apply to the offered certificates which are in addition to those described in the accompanying prospectus.

This prospectus supplement and the accompanying prospectus include cross references to sections in these materials where you can find further related discussions. The Table of Contents in this prospectus supplement and the accompanying prospectus identify the pages where these sections are located.

You can find a listing of the pages where capitalized terms used in this prospectus supplement are defined under the caption ‘‘INDEX OF DEFINED TERMS’’ beginning on page S-253 in this prospectus supplement.

In this prospectus supplement, the terms ‘‘depositor,’’ ‘‘we,’’ ‘‘us’’ and ‘‘our’’ refer to Wachovia Commercial Mortgage Securities, Inc.

We do not intend this prospectus supplement and the accompanying prospectus to be an offer or solicitation:

•  if used in a jurisdiction in which such offer or solicitation is not authorized;
•  if the person making such offer or solicitation is not qualified to do so; or
•  if such offer or solicitation is made to anyone to whom it is unlawful to make such offer or solicitation.

This prospectus supplement and the accompanying prospectus may be used by us, Wachovia Capital Markets, LLC, our affiliate, and any other of our affiliates when required under the federal securities laws in connection with offers and sales of offered certificates in furtherance of market-making activities in offered certificates. Wachovia Capital Markets, LLC or any such other affiliate may act as principal or agent in these transactions. Sales will be made at prices related to prevailing market prices at the time of sale or otherwise.

EUROPEAN ECONOMIC AREA

In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive (as defined below) (each, a ‘‘Relevant Member State’’), each underwriter has represented and agreed that with effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State (the ‘‘Relevant Implementation Date’’) it has not made and will not make an offer of certificates to the public in that Relevant Member State prior to the publication of a prospectus in relation to the certificates which has been approved by the competent authority in that Relevant Member State or, where appropriate, approved in another Relevant Member State and notified to the competent authority in that Relevant Member State, all in accordance with the Prospectus

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Table of Contents

Directive, except that it may, with effect from and including the Relevant Implementation Date, make an offer of certificates to the public in that Relevant Member State at any time:

(a)    to legal entities which are authorized or regulated to operate in the financial markets or, if not so authorized or regulated, whose corporate purpose is solely to invest in securities;

(b)    to any legal entity which has two or more of (1) an average of at least 250 employees during the last financial year; (2) a total balance sheet of more than €43,000,000; and (3) an annual net turnover of more than €50,000,000, as shown in its last annual or consolidated accounts; or

(c)    in any other circumstances which do not require the publication by the issuer of a prospectus pursuant to Article 3 of the Prospectus Directive.

For the purposes of this provision, the expression an ‘‘offer of certificates to the public’’ in relation to any certificates in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and the certificates to be offered so as to enable an investor to decide to purchase or subscribe the certificates, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State and the expression ‘‘Prospectus Directive’’ means Directive 2003/71/EC and includes any relevant implementing measure in each Relevant Member State.

UNITED KINGDOM

Each underwriter has represented and agreed that:

(a)    it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000 (the ‘‘FSMA’’)) received by it in connection with the issue or sale of the certificates in circumstances in which Section 21(1) of the FSMA does not apply to the issuer; and

(b)    it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the certificates in, from or otherwise involving the United Kingdom.

NOTICE TO UNITED KINGDOM INVESTORS

The distribution of this prospectus if made by a person who is not an authorized person under the FSMA, is being made only to, or directed only at persons who (1) are outside the United Kingdom, or (2) have professional experience in matters relating to investments, or (3) are persons falling within Articles 49(2)(a) through (d) (‘‘high net worth companies, unincorporated associations, etc.’’) or 19 (Investment Professionals) of the Financial Services and Market Act 2000 (Financial Promotion) Order 2005 (all such persons together being referred to as the ‘‘Relevant Persons’’). This prospectus must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this prospectus relates, including the offered certificates, is available only to Relevant Persons and will be engaged in only with Relevant Persons.

Potential investors in the United Kingdom are advised that all, or most, of the protections afforded by the United Kingdom regulatory system will not apply to an investment in the offered certificates and that compensation will not be available under the United Kingdom Financial Services Compensation Scheme.

(Footnotes to table on the front cover)

(1) Subject to a permitted variance of plus or minus 5.0%.
(2) The ‘‘Assumed Final Distribution Date’’ has been determined on the basis of the assumptions set forth in ‘‘DESCRIPTION OF THE CERTIFICATES—Assumed Final Distribution Date; Rated Final Distribution Date’’ in this prospectus supplement and a 0% CPR (as defined in ‘‘YIELD AND MATURITY CONSIDERATIONS—Weighted Average Life’’ in this prospectus supplement). The ‘‘Rated Final Distribution Date’’ is the distribution date to occur in December 2043. See ‘‘DESCRIPTION OF THE CERTIFICATES—Assumed Final Distribution Date; Rated Final Distribution Date’’ and ‘‘RATINGS’’ in this prospectus supplement.
(3) By each of Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies Inc., Moody’s Investors Service, Inc. and Fitch, Inc. See ‘‘RATINGS’’ in this prospectus supplement.
(4) The pass-through rate applicable to each of the Class A-1A, Class A-J, Class B, Class C, Class D, Class E and Class F certificates for any distribution date will be subject to a maximum rate equal to the applicable weighted average net mortgage rate calculated as described in this prospectus supplement for the related date.

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TABLE OF CONTENTS


SUMMARY OF PROSPECTUS SUPPLEMENT  S-5
OVERVIEW OF THE CERTIFICATES  S-6
THE PARTIES  S-8
IMPORTANT DATES AND PERIODS  S-14
THE CERTIFICATES  S-15
THE MORTGAGE LOANS  S-37
RISK FACTORS  S-53
DESCRIPTION OF THE MORTGAGE POOL  S-88
General S-88
Mortgage Loan Selection Process S-89
Mortgage Loan History S-90
Certain Terms and Conditions of the Mortgage Loans S-90
Certain State-Specific Considerations S-97
Assessments of Property Condition S-98
Co-Lender Loans S-99
General S-99
Peter Cooper Village & Stuyvesant Town Loan S-104
Five Times Square Loan S-105
State Street Loan S-108
485 Lexington Avenue Loan S-108
One Congress Street Loan S-108
Spring Mill Corporate Center Loan S-113
Eastland Center Loan S-116
Tyco International Building Loan S-119
Morgan Apartments Loan S-122
PNC Corporate Plaza Loan S-126
The Mezz Cap Loan S-129
The Caplease Loans S-131
Mezzanine Loans S-133
Certain Provisions of the Intercreditor Agreements with Respect to Certain Subordinate Loans S-133
Additional Mortgage Loan Information S-134
Twenty Largest Mortgage Loans S-141
The Sponsors S-142
The Depositor S-153
Significant Obligors S-153
The Mortgage Loan Sellers S-153
Originators S-154
Assignment of the Mortgage Loans; Repurchases and Substitutions S-154
Representations and Warranties; Repurchases and Substitutions S-157
Repurchase or Substitution of Cross-Collateralized Mortgage Loans S-160
Changes in Mortgage Pool Characteristics S-161
SERVICING OF THE MORTGAGE LOANS  S-162
General S-162
The Master Servicer S-163
The Special Servicer S-166
Certain Special Servicing Provisions S-167
Servicing of the State Street Financial Center Loan S-170
Compensation and Payment of Expenses S-171
Modifications, Waivers and Amendments S-179

S-3






S-4




Table of Contents

SUMMARY OF PROSPECTUS SUPPLEMENT

•  This summary highlights selected information from this prospectus supplement and does not contain all of the information that you need to consider in making your investment decision. To understand the terms of the offered certificates, you must carefully read this entire prospectus supplement and the accompanying prospectus.
•  This summary provides an overview of certain calculations, cash flows and other information to aid your understanding and is qualified by the full description of these calculations, cash flows and other information in this prospectus supplement and the accompanying prospectus.
•  We provide information in this prospectus supplement on the certificates that are not offered by this prospectus supplement only to enhance your understanding of the offered certificates. We are not offering the non-offered certificates pursuant to this prospectus supplement.
•  For purposes of making distributions to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 and Class A-1A certificates, the pool of mortgage loans will be deemed to consist of 2 distinct loan groups, loan group 1 and loan group 2.
•  Unless otherwise stated, all percentages of the mortgage loans included in the trust fund, or of any specified group of mortgage loans included in the trust fund, referred to in this prospectus supplement are calculated using the aggregate principal balance of the mortgage loans included in the trust fund as of the cut-off date (which is March 11, 2007, with respect to 261 mortgage loans, March 1, 2007, with respect to 1 mortgage loan and March 8, 2007, with respect to 1 mortgage loan), after giving effect to payments due on or before such date whether or not received. The cut-off date balance of each mortgage loan included in the trust fund and each cut-off date certificate balance in this prospectus supplement assumes the timely receipt of principal scheduled to be paid (if any) on each mortgage loan and no defaults, delinquencies or prepayments on any mortgage loan on or before the related cut-off date. Percentages of mortgaged properties are references to the percentages of the aggregate principal balance of all the mortgage loans included in the trust fund, or of any specified group of mortgage loans included in the trust fund, as of the cut-off date represented by the aggregate principal balance of the related mortgage loans as of the cut-off date.
•  Three (3) mortgage loans, the Peter Cooper Village & Stuyvesant Town mortgage loan, the State Street Financial Center mortgage loan and the 485 Lexington Avenue mortgage loan, are part of a split loan structure where the companion loan(s) that is part of the split loan structure is pari passu in right of entitlement to payment with the mortgage loan. One (1) mortgage loan, the Five Times Square mortgage loan, is part of a split loan structure where one companion loan is pari passu in right of entitlement to payment with the mortgage loan and one companion loan is subordinate in right of entitlement with respect to the other companion loans. Certain other mortgage loans are each part of a split loan structure in which the related companion loan(s) is subordinate to the related mortgage loan. Amounts attributable to any companion loan will not be assets of the trust fund and will be beneficially owned by the holder of such companion loan.
•  All numerical or statistical information concerning the mortgage loans included in the trust fund is provided on an approximate basis and excludes information on the subordinate companion loans.    

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Table of Contents

OVERVIEW OF THE CERTIFICATES

The table below lists certain summary information concerning the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C30, which we are offering pursuant to the accompanying prospectus and this prospectus supplement. Each certificate represents an interest in the mortgage loans included in the trust fund and the other assets of the trust fund. The table also describes the certificates that are not offered by this prospectus supplement (other than the Class Z, Class R-I and Class R-II certificates) which have not been registered under the Securities Act of 1933, as amended, and which will be sold to investors in private transactions.


Class Closing Date
Certificate
Balance or
Notional
Amount(1)
Percentage
of Cut-Off
Date Pool
Balance
Credit
Support
Pass-Through
Rate Description
Initial
Pass-
Through
Rate
Weighted
Average
Life (years)(2)
Cash Flow or
Principal
Window
(Mon./Yr.)(2)
Expected
Fitch/
Moody’s/S&P
Rating(3)
Class A-1 $ 35,195,000
0.445% 30.000% Fixed
5.031
%
2.79
04/07 - 11/11 AAA/Aaa/AAA
Class A-2 $ 100,000,000
1.265% 30.000% Fixed
5.167
%
4.77
11/11 - 01/12 AAA/Aaa/AAA
Class A-3 $ 908,744,000
11.498% 30.000% Fixed
5.246
%
4.84
01/12 - 03/12 AAA/Aaa/AAA
Class A-4 $ 195,542,000
2.474% 30.000% Fixed
5.305
%
6.96
12/13 - 03/14 AAA/Aaa/AAA
Class A-PB $ 126,906,000
1.606% 30.000% Fixed
5.294
%
7.36
03/12 - 09/16 AAA/Aaa/AAA
Class A-5 $ 1,876,383,000
23.741% 30.000% Fixed
5.342
%
9.77
09/16 - 01/17 AAA/Aaa/AAA
Class A-1A $ 2,289,679,000
28.970% 30.000% Fixed
(4)
5.334
%
9.35
04/07 - 01/17 AAA/Aaa/AAA
Class A-M $ 540,349,000
6.837% 20.000% Fixed
5.383
%
9.85
01/17 - 02/17 AAA/Aaa/AAA
Class A-J $ 671,798,000
8.500% 11.500% Fixed
(4)
5.413
%
9.88
02/17 - 02/17 AAA/Aaa/AAA
Class B $ 49,397,000
0.625% 10.875% Fixed
(4)
5.463
%
9.88
02/17 - 02/17 AA+/Aa1/AA+
Class C $ 79,035,000
1.000% 9.875% Fixed
(4)
5.483
%
9.88
02/17 - 02/17 AA/Aa2/AA
Class D $ 69,155,000
0.875% 9.000% Fixed
(4)
5.513
%
9.90
02/17 - 03/17 AA−/Aa3/AA−
Class E $ 59,277,000
0.750% 8.250% Fixed
(4)
5.553
%
9.96
03/17 - 03/17 A+/A1/A+
Class F $ 69,155,000
0.875% 7.375% Fixed
(4)
5.603
%
9.96
03/17 - 03/17 A/A2/A
Class A-MFL $ 250,000,000
(5)
3.163% 20.000% Floating
LIBOR+0.200% (6
)
(6) AAA/Aaa/AAA(7)
Class G $ 98,794,000
1.250% 6.125% Fixed
(4)
5.682
%
(6
)
(6) A−/A3/A−
Class H $ 79,035,000
1.000% 5.125% WAC
(8)
6.021
%
(6
)
(6) BBB+/Baa1/BBB+
Class J $ 88,914,000
1.125% 4.000% WAC
(8)
6.021
%
(6
)
(6) BBB/Baa2/BBB
Class K $ 79,035,000
1.000% 3.000% WAC
(8)
6.021
%
(6
)
(6) BBB−/Baa3/BBB−
Class L $ 39,518,000
0.500% 2.500% Fixed
(4)
5.014
%
(6
)
(6) NR/Ba1/BB+
Class M $ 19,759,000
0.250% 2.250% Fixed
(4)
5.014
%
(6
)
(6) NR/Ba2/BB
Class N $ 29,638,000
0.375% 1.875% Fixed
(4)
5.014
%
(6
)
(6) NR/Ba3/BB–
Class O $ 19,758,000
0.250% 1.625% Fixed
(4)
5.014
%
(6
)
(6) NR/B1/NR
Class P $ 9,880,000
0.125% 1.500% Fixed
(4)
5.014
%
(6
)
(6) NR/B2/NR
Class Q $ 19,759,000
0.250% 1.250% Fixed
(4)
5.014
%
(6
)
(6) NR/B3/NR
Class S $ 98,793,737
1.250% 0.000% Fixed
(4)
5.014
%
(6
)
(6) NR/NR/NR
Class X-P $ 1,912,455,500
N/A N/A Variable-IO
(9)(10)
0.627
%
(6
)
N/A AAA/Aaa/AAA
Class X-C $ 1,975,874,684
N/A N/A Variable-IO
(9)(10)
0.060
%
(6
)
N/A AAA/Aaa/AAA
Class X-W $ 5,927,624,052
N/A N/A Variable-IO
(9)(10)
0.667
%
(6
)
N/A AAA/Aaa/AAA
(1) Subject to a permitted variance of plus or minus 5.0%.
(2) Based on no prepayments and the other assumptions set forth under ‘‘YIELD AND MATURITY CONSIDERATIONS—Weighted Average Life’’ in this prospectus supplement.
(3) By each of Fitch, Inc., Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. See ‘‘RATINGS’’ in this prospectus supplement.
(4) The pass-through rate applicable to each of the Class A-1A, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class L, Class M, Class N, Class O, Class P, Class Q and Class S

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Table of Contents
certificates for any distribution date will be subject to a maximum rate equal to the applicable weighted average net mortgage rate (calculated as described in this prospectus supplement) for the related date.
(5)  The certificate balance of the Class A-MFL certificates will be equal to the certificate balance of the A-MFL regular interest.
(6) Not offered by this prospectus supplement. Any information we provide herein regarding the terms of these certificates is provided only to enhance your understanding of the offered certificates.
(7)  The ratings assigned to the Class A-MFL certificates only reflect the receipt of a fixed rate of interest at a rate of 5.313% per annum. See ‘‘RATINGS’’ in this prospectus supplement.
(8) The pass-through rate applicable to each of the Class H, Class J and Class K certificates for any distribution date will be equal to the applicable weighted average net mortgage rate (calculated as described in this prospectus supplement) for the related date.
(9) None of the Class X-P certificates, the Class X-C certificates or the Class X-W certificates will have a certificate balance and their respective holders will not receive distributions of principal, but such holders are entitled to receive payments of the aggregate interest accrued on the notional amount of the applicable class of certificates, as described in this prospectus supplement. The interest rate applicable to each of the Class X-P certificates, the Class X-C certificates and the Class X-W certificates for each distribution date will be as described in this prospectus supplement. See ‘‘DESCRIPTION OF THE CERTIFICATES—Pass-Through Rates’’ in this prospectus supplement.
(10)  The Class X-P, Class X-C and Class X-W certificates are not offered by this prospectus supplement. Any information we provide in this prospectus supplement regarding the terms of these certificates is provided only to enhance your understanding of the offered certificates. The Class X-P, Class X-C and Class X-W certificates will not have a certificate balance and their holders will not receive distributions of principal, but these holders are entitled to receive payments of the aggregate interest accrued on the respective notional amount of the Class X-P, Class X-C and Class X-W certificates, as described in this prospectus supplement. The interest rate applicable to the Class X-P, Class X-C and Class X-W certificates for each distribution date will be as described in this prospectus supplement. See ‘‘DESCRIPTION OF THE CERTIFICATES—Pass-Through Rates’’ in this prospectus supplement.

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Table of Contents

THE PARTIES

The Trust Fund The trust fund will be created on or about the closing date pursuant to a pooling and servicing agreement, dated as of March 1, 2007, by and among the depositor, the master servicer, the special servicer and the trustee.
The Depositor Wachovia Commercial Mortgage Securities, Inc. We are a wholly owned subsidiary of Wachovia Bank, National Association, which is one of the mortgage loan sellers, a sponsor, the master servicer, the swap counterparty and an affiliate of one of the underwriters. Our principal executive office is located at 301 South College Street, Charlotte, North Carolina 28288-0166 and our telephone number is (704) 374-6161. Neither we nor any of our affiliates have insured or guaranteed the offered certificates. For more detailed information, see ‘‘THE DEPOSITOR’’ in the accompanying prospectus.
On the closing date, we will sell the mortgage loans and related assets to be included in the trust fund to the trustee to create the trust fund.
The Issuing Entity A common law trust, created under the laws of the State of New York, to be established on the closing date under the pooling and servicing agreement. The issuing entity is also sometimes referred to herein as the trust fund. For more detailed information, see ‘‘DESCRIPTION OF THE CERTIFICATES—The Issuing Entity’’ in this prospectus supplement and the accompanying prospectus.
The Sponsors Each of Wachovia Bank, National Association and Artesia Mortgage Capital Corporation is a sponsor for this transaction. For more information, see ‘‘DESCRIPTION OF THE MORTGAGE POOL—The Sponsors’’ in this prospectus supplement and ‘‘THE SPONSOR’’ in the accompanying prospectus.
The Mortgage Loan Sellers Each of the sponsors and Column Financial, Inc. will be a mortgage loan seller for this transaction. For more information, see ‘‘DESCRIPTION OF THE MORTGAGE POOL—The Mortgage Loan Sellers’’ in this prospectus supplement. Wachovia Bank, National Association is the master servicer, a sponsor, the swap counterparty and is an affiliate of the depositor and one of the underwriters. Column Financial, Inc. is an affiliate of one of the underwriters. The mortgage loan sellers will sell and assign to us on the closing date the mortgage loans to be included in the trust fund. See ‘‘DESCRIPTION OF THE MORTGAGE POOL—Representations and Warranties; Repurchases and Substitutions’’ in this prospectus supplement.

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Table of Contents

Mortgage Loans by Mortgage Loan Seller


Mortgage Loan Seller Number of
Mortgage
Loans
Aggregate
Cut-Off Date
Balance
Percentage of
Cut-Off Date
Pool Balance
Percentage of
Cut-Off Date
Group 1
Balance
Percentage of
Cut-Off Date
Group 2
Balance
Wachovia Bank, National
Association*
195
$ 7,013,792,087
88.7
%
86.4
%
94.4
%
Artesia Mortgage Capital Corporation 68
754,706,651
9.5
11.2
5.6
Column Financial, Inc.* 1
135,000,000
1.7
2.4
0.0
Total 263
$ 7,903,498,737
100.0
%
100.0
%
100.0
%
* With respect to the 485 Lexington Avenue mortgage loan (loan number 5), representing 4.0% of the mortgage pool (5.6% of loan group 1), a 40% interest in the whole loan is being sold to the trust fund by Wachovia Bank, National Association, and a 30% interest in the whole loan is being sold to the trust fund by Column Financial, Inc. (the remaining 30% interest is held by Morgan Stanley Mortgage Capital, Inc.) Both mortgage loan sellers are credited with the mortgage loan but are only credited with their respective pro rata portion of that mortgage loan.
The Master Servicer Wachovia Bank, National Association. Wachovia Bank, National Association is one of the mortgage loan sellers, a sponsor, the swap counterparty and an affiliate of the depositor and one of the underwriters. The master servicer will be primarily responsible for collecting payments and gathering information with respect to the mortgage loans included in the trust fund and the companion loans which are not part of the trust fund; provided, however, the State Street Financial Center whole loan will be serviced under the pooling and servicing agreement entered into in connection with the issuance of the LB-UBS Commercial Mortgage Trust 2007-C1, Commercial Mortgage Pass-Through Certificates, Series 2007-C1. The master servicer under the LB-UBS 2007-C1 pooling and servicing agreement is KeyCorp Real Estate Capital Markets, Inc.
See ‘‘SERVICING OF THE MORTGAGE LOANS—The Master Servicer’’ in this prospectus supplement.
The Special Servicer Initially, CWCapital Asset Management LLC. The special servicer will be responsible for performing certain servicing functions with respect to the mortgage loans included in the trust fund and the companion loans which are not part of the trust fund that, in general, are in default or as to which default is imminent; provided, however, the State Street Financial Center whole loan will be specially serviced (during those periods where special servicing is required) under the pooling and servicing agreement entered into in connection with the issuance of the LB-UBS Commercial Mortgage Trust 2007-C1, Commercial Mortgage Pass-Through Certificates, Series 2007-C1. The special servicer under the LB-UBS 2007-C1 pooling and servicing agreement is Midland Loan Services, Inc.

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Some holders of certificates (initially the holder of the Class Q certificates with respect to each mortgage loan other than the State Street Financial Center mortgage loan, One Congress Street mortgage loan, the Tyco International Building mortgage loan, the Five Times Square mortgage loan, the Morgan Apartments mortgage loan, the Eastland Center mortgage loan, the PNC Corporate Plaza mortgage loan and the Spring Mill Corporate Center mortgage loan) will have the right to replace the special servicer and to select a representative who may advise and direct the special servicer and whose approval is required for certain actions by the special servicer under certain circumstances. With respect to the One Congress Street mortgage loan, the Five Times Square mortgage loan, the Eastland Center mortgage loan, the Morgan Apartments mortgage loan, the Tyco International Building mortgage loan, the PNC Corporate Plaza mortgage loan and the Spring Mill Corporate Center mortgage loan, except during the continuance of a control appraisal period under the related intercreditor agreement, the holder of the subordinate companion loan related to each of the foregoing mortgage loans may appoint or remove the special servicer with respect to the related mortgage loan, subject to certain conditions set forth in the related intercreditor agreement. During the continuance of a control appraisal period with respect to any of the One Congress Street mortgage loan, the Five Times Square mortgage loan, the Tyco International Building mortgage loan, the Eastland Center mortgage loan, the PNC Corporate Plaza mortgage loan, the Morgan Apartments mortgage loan or the Spring Mill Corporate Center mortgage loan, the controlling class will have the right to replace the special servicer with respect to such mortgage loan. With respect to the State Street Financial Center mortgage loan, the special servicer may be removed at any time, with or without cause, but only with the consent of both the controlling class representative and the LB-UBS 2007-C1 controlling class representative, subject to certain conditions as set forth in the related intercreditor agreement. See ‘‘SERVICING OF THE MORTGAGE LOANS—The Special Servicer’’ and ‘‘—The Controlling Class Representative’’ in this prospectus supplement.
It is anticipated that Cadim TACH inc. (an affiliate of the special servicer) or an affiliate will purchase certain non-offered classes of certificates (including the Class S certificates). See ‘‘SERVICING OF THE MORTGAGE LOANS—The Special Servicer’’ in this prospectus supplement.
The Trustee Wells Fargo Bank, N.A. The trustee will be responsible for (among other things) distributing payments to certificateholders and delivering to certificateholders certain reports on the mortgage loans included in the trust fund and

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the certificates. See ‘‘DESCRIPTION OF THE CERTIFICATES—The Trustee’’ in this prospectus supplement. The trustee under the LB-UBS 2007-C1 pooling and servicing agreement is LaSalle Bank National Association.
The Swap Counterparty Wachovia Bank, National Association, Wachovia Bank, National Association is one of the mortgage loan sellers, a sponsor, the master servicer, an affiliate of one of the underwriters and an affiliate of the depositor.
The Underwriters Wachovia Capital Markets, LLC, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Merrill Lynch & Co. It is intended that Wachovia Securities International Limited will act as a member of the selling group on behalf of Wachovia Capital Markets, LLC and may sell offered certificates on behalf of Wachovia Capital Markets, LLC in certain jurisdictions. Wachovia Capital Markets, LLC is an affiliate of the depositor and of Wachovia Bank, National Association, which is the master servicer, a sponsor, the swap counterparty and one of the mortgage loan sellers. Credit Suisse Securities (USA) LLC is an affiliate of one of the mortgage loan sellers. See ‘‘RISK FACTORS—The Offered Certificates—Potential Conflicts of Interest’’ in this prospectus supplement. Wachovia Capital Markets, LLC is acting as lead manager for this offering. Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Merrill Lynch & Co. are acting as co-managers for this offering. Credit Suisse Securities (USA) LLC is acting as sole bookrunner with respect to 7.2% of the Class A-5 certificates. Wachovia Capital Markets, LLC is acting as sole bookrunner with respect to the remainder of the Class A-5 certificates and all other classes of offered certificates.
Certain Affiliations Wachovia Bank, National Association and its affiliates are playing several roles in this transaction. Wachovia Bank, National Association is a mortgage loan seller, the master servicer, the swap counterparty and a sponsor. Wachovia Commercial Mortgage Securities, Inc. is the depositor and a wholly owned subsidiary of Wachovia Bank, National Association. Wachovia Bank, National Association, Artesia Mortgage Capital Corporation and Column Financial, Inc. originated or acquired the mortgage loans and will be selling them to the depositor. Wachovia Bank, National Association is also an affiliate of Wachovia Capital Markets, LLC, an underwriter for the offering of the certificates. Column Financial, Inc., one of the mortgage loan sellers, is an affiliate of Credit Suisse Securities (USA) LLC, an underwriter for the offering of the certificates. Further, an affiliate of the special servicer is the anticipated initial holder of certain non-offered classes of certificates. These roles and other potential relationships may give rise to conflicts of interest as

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further described under ‘‘RISK FACTORS—The Offered Certificates—Potential Conflicts of Interest’’ in this prospectus supplement.
Significant Obligors The mortgaged property described in Annex D and in ‘‘DESCRIPTION OF THE MORTGAGE POOL—Twenty Largest Mortgage Loans’’ securing the Peter Cooper Village & Stuyvesant Town mortgage loan represents 19.0% of the mortgage pool (65.5% of loan group 2) is a ‘‘significant obligor’’ with respect to this offering. The borrowers under the Peter Cooper Village & Stuyvesant Town mortgage loan are PCV ST Owner LP and ST Owner LP. See ‘‘DESCRIPTION OF THE MORTGAGE POOL— Significant Obligors’’, ‘‘—Twenty Largest Mortgage Loans’’ in this prospectus supplement and the description of the Peter Cooper Village & Stuyvesant Town mortgage loan in Annex D to this prospectus supplement.

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Transaction Overview

On the closing date, the mortgage loan sellers will sell the mortgage loans to the depositor, which will in turn deposit them into a common law trust created on the closing date. The trust fund, which will be the issuing entity, will be formed by a pooling and servicing agreement, to be dated as of March 1, 2007, among the depositor, the master servicer, the special servicer and the trustee. The master servicer will service the mortgage loans (other than the specially serviced mortgage loans and the State Street Financial Center whole loan (which will be serviced pursuant to the LB-UBS 2007-C1 pooling and servicing agreement)) in accordance with the pooling and servicing agreement and provide the information to the trustee necessary for the trustee to calculate distributions and other information regarding the certificates.

The transfers of the mortgage loans from the sponsors/mortgage loan sellers to the depositor and from the depositor to the issuing entity in exchange for the certificates are illustrated below:

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IMPORTANT DATES AND PERIODS

Closing Date On or about March 28, 2007.
Cut-Off Date For 261 mortgage loans, representing 80.8% of the mortgage pool (211 mortgage loans in loan group 1 or 99.7% and 50 of the mortgage loans in loan group 2 or 34.5%), March 11, 2007, for 1 mortgage loan, representing 19.0% of the mortgage pool (65.5% of loan group 2), March 8, 2007 and for 1 mortgage loan, representing 0.2% of the mortgage pool (0.3% of loan group 1), March 1, 2007. The cut-off date balance of each mortgage loan included in the trust fund and each cut-off date certificate balance in this prospectus supplement assumes the timely receipt of principal scheduled to be paid (if any) on each mortgage loan and no defaults, delinquencies or prepayments on any mortgage loan on or before the related cut-off date.
Distribution Date The fourth business day following the related determination date, commencing in April, 2007.
Determination Date The 11th day of each month, or if such 11th day is not a business day, the next succeeding business day, commencing in April, 2007.
Collection Period For any distribution date, the period beginning on the 12th day in the immediately preceding month (or the day after the applicable cut-off date in the case of the first collection period) through and including the 11th day of the month in which the distribution date occurs. Notwithstanding the foregoing, in the event that the last day of a collection period is not a business day, any payments with respect to the mortgage loans which relate to such collection period and are received on the business day immediately following such last day will be deemed to have been received during such collection period and not during any other collection period, and in the event that the payment date (after giving effect to any grace period) related to any distribution date occurs after the related collection period, any amounts received on that payment date (after giving effect to any grace period) will be deemed to have been received during the related collection period and not during any other collection period.

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THE CERTIFICATES

Offered Certificates We are offering to you the following 14 classes of certificates of our Commercial Mortgage Pass-Through Certificates, Series 2007-C30 pursuant to this prospectus supplement:
Class A-1
Class A-2
Class A-3
Class A-4
Class A-PB
Class A-5
Class A-1A
Class A-M
Class A-J
Class B
Class C
Class D
Class E
Class F
Priority of Distributions On each distribution date, the owners of the certificates will be entitled to distributions of payments or other collections on the mortgage loans that the master servicer collected or that the master servicer and/or the trustee advanced during or with respect to the related collection period after deducting certain fees and expenses. For purposes of making certain distributions to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 and Class A-1A certificates, the mortgage pool will be deemed to consist of 2 loan groups:
Loan group 1 will consist of (i) all of the mortgage loans that are not secured by multifamily properties or mobile home park properties and (ii) 1 mortgage loan that is secured by a mobile home park property.
Loan group 2 will consist of 51 mortgage loans that are secured by multifamily properties.
Annex A-1 to this prospectus supplement sets forth the loan group designation for each mortgage loan.
The trustee will distribute amounts to the extent that the money is available after the payment of fees and expenses of the master servicer, the special servicer, the trustee and the LB-UBS 2007-C1 master servicer, in the following order of priority:

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Interest, concurrently (i) pro rata, on the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB and Class A-5 certificates from the portion of money available attributable to mortgage loans in loan group 1, (ii) on the Class A-1A certificates from the portion of money available attributable to mortgage loans in loan group 2, and (iii) pro rata, on the Class X-P, Class X-C and Class X-W certificates from any and all money attributable to the mortgage pool; provided, however, if on any distribution date, the money available on such distribution date is insufficient to pay in full the total amount of interest to be paid to any of the classes as described above, money available with respect to the entire mortgage pool will be allocated among all those classes pro rata.

Principal on the Class A-PB certificates, up to the principal distribution amount related to loan group 1, until the certificate balance of the Class A-PB certificates is reduced to the planned principal balance set forth in the table on Annex F to this prospectus supplement, and, after the Class A-1A certificate balance has been reduced to zero, the principal distribution amount relating to loan group 2 remaining after payments to the Class A-1A certificates have been made, until the certificate balance of the Class A-PB certificates is reduced to the planned principal balance set forth in the table on Annex F to this prospectus supplement.

After distributions of principal have been made from the principal distribution amount relating to loan group 1 to the Class A-PB certificates as set forth in the priority immediately preceding, principal on the Class A-1 certificates, up to the remaining principal distribution amount relating to loan group 1 and, after the Class A-1A certificate balance has been reduced to zero, the principal distribution amount relating to loan group 2 remaining after payments to the Class A-1A and Class A-PB certificates have been made, until their certificate balance is reduced to zero.

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After distributions of principal have been made from the principal distribution amount relating to loan group 1 to the Class A-PB and Class A-1 certificates as set forth in the immediately preceding priorities, principal on the Class A-2 certificates, up to the remaining principal distribution amount relating to loan group 1 and, after the Class A-1A certificate balance has been reduced to zero, the principal distribution amount relating to loan group 2 remaining after payments to the Class A-1A, Class A-PB and Class A-1 certificates have been made, until their certificate balance is reduced to zero.

After distributions of principal have been made from the principal distribution amount relating to loan group 1 to the Class A-PB, Class A-1 and Class A-2 certificates as set forth in the immediately preceding priorities, principal on the Class A-3 certificates, up to the remaining principal distribution amount relating to loan group 1 and, after the Class A-1A certificate balance has been reduced to zero, the principal distribution amount relating to loan group 2 remaining after payments to the Class A-1A, Class A-PB, Class A-1 and Class A-2 certificates have been made, until their certificate balance is reduced to zero.

After distributions of principal have been made from the principal distribution amount relating to loan group 1 to the Class A-PB, Class A-1, Class A-2 and Class A-3 certificates as set forth in the immediately preceding priorities, principal on the Class A-4 certificates, up to the remaining principal distribution amount relating to loan group 1 and, after the Class A-1A certificate balance has been reduced to zero, the principal distribution amount relating to loan group 2 remaining after payments to the Class A-1A, Class A-PB, Class A-1, Class A-2 and Class A-3 certificates have been made, until their certificate balance is reduced to zero.

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After distributions of principal have been made from the principal distribution amount relating to loan group 1 to the Class A-PB, Class A-1, Class A-2, Class A-3 and Class A-4 certificates as set forth in the immediately preceding priorities, principal on the Class A-PB certificates, up to the remaining principal distribution amount relating to loan group 1 and, after the Class A-1A certificate balance has been reduced to zero, the principal distribution amount relating to loan group 2 remaining after payments to the Class A-1A, Class A-PB, Class A-1, Class A-2, Class A-3 and Class A-4 certificates have been made, until their certificate balance is reduced to zero.

After distributions of principal have been made from the principal distribution amount relating to loan group 1 to the Class A-PB, Class A-1, Class A-2, Class A-3 and Class A-4 certificates as set forth in the immediately preceding priorities, principal on the Class A-5 certificates, up to the remaining principal distribution amount relating to loan group 1 and, after the Class A-1A certificate balance has been reduced to zero, the principal distribution amount relating to loan group 2 remaining after payments to the Class A-1A, Class A-PB, Class A-1, Class A-2, Class A-3 and Class A-4 certificates have been made, until their certificate balance is reduced to zero.

Principal on the Class A-1A certificates, up to the principal distribution amount relating to loan group 2 and, after the certificate balances of the Class A-PB, Class A-1, Class A-2, Class A-3, Class A-4 and Class A-5 certificates have been reduced to zero, the principal distribution amount relating to loan group 1 remaining after payments to the Class A-PB, Class A-1, Class A-2, Class A-3, Class A-4 and Class A-5 certificates have been made, until their certificate balance is reduced to zero.

Reimbursement to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 and Class A-1A certificates, pro rata, for any realized loss and trust fund expenses borne by such certificates.

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Interest, pro rata, on the Class A-M certificates and the Class A-MFL regular interest.

Principal, pro rata, on the Class A-M certificates and the Class A-MFL regular interest, up to the principal distribution amount, until their respective certificate balances are reduced to zero.

Reimbursement to the Class A-M certificates and the Class A-MFL regular interest, pro rata for any realized losses and trust fund expenses borne by such certificates or regular interest.

Interest on the Class A-J certificates.

Principal on the Class A-J certificates, up to the principal distribution amount, until their certificate balance is reduced to zero.

Reimbursement to the Class A-J certificates for any realized losses and trust fund expenses borne by such class.

Interest on the Class B certificates.

Principal on the Class B certificates, up to the principal distribution amount, until their certificate balance is reduced to zero.

Reimbursement to the Class B certificates for any realized losses and trust fund expenses borne by such class.

Interest on the Class C certificates.

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Principal on the Class C certificates, up to the principal distribution amount, until their certificate balance is reduced to zero.

Reimbursement to the Class C certificates for any realized losses and trust fund expenses borne by such class.

Interest on the Class D certificates.

Principal on the Class D certificates, up to the principal distribution amount, until their certificate balance is reduced to zero.

Reimbursement to the Class D certificates for any realized losses and trust fund expenses borne by such class.

Interest on the Class E certificates.

Principal on the Class E certificates, up to the principal distribution amount, until their certificate balance is reduced to zero.

Reimbursement to the Class E certificates for any realized losses and trust fund expenses borne by such class.

Interest on the Class F certificates.

Principal on the Class F certificates, up to the principal distribution amount, until their certificate balance is reduced to zero.

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Reimbursement to the Class F certificates for any realized losses and trust fund expenses borne by such class.

If, on any distribution date, the certificate balances of the Class A-M through Class S certificates and the Class A-MFL regular interest have been reduced to zero, but any two or more of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 and Class A-1A certificates remain outstanding, distributions of principal (other than distributions of principal otherwise allocable to reduce the certificate balance of the Class A-PB certificates to the planned principal amount set forth in the table on Annex F to this prospectus supplement) and interest will be made, pro rata, to the outstanding Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 and Class A-1A certificates. See ‘‘DESCRIPTION OF THE CERTIFICATES—Distributions’’ in this prospectus supplement.
No companion loan will be part of the trust fund, and amounts received with respect to any companion loan will not be available for distributions to holders of any certificates.
Interest On each distribution date, each class of certificates (other than the Class Z, Class R-I and Class R-II certificates) and the Class A-MFL regular interest will be entitled to receive:
for each class of these certificates or the Class A-MFL regular interest, one month’s interest at the applicable pass-through rate accrued during the applicable interest period, on the certificate balance or notional amount, as applicable, of each class of these certificates or the Class A-MFL regular interest immediately prior to that distribution date;
plus any interest that this class of certificates or the Class A-MFL regular interest was entitled to receive on all prior distribution dates to the extent not received;
minus (other than in the case of the Class X-P, Class X-C and the Class X-W certificates) that class’ share of any shortfalls in interest collections due to prepayments on mortgage loans included in the trust fund that are not offset by certain payments made by the master servicer; and
minus (other than in the case of the Class X-P, Class X-C and the Class X-W certificates) that class’ allocable share of any reduction in interest accrued on any mortgage loan as a result of a modification that reduces the related mortgage rate and allows the reduction in accrued interest to be added to the stated principal balance of the mortgage loan.

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As reflected in the chart under ‘‘—Priority of Distributions’’ above, so long as funds are sufficient on any distribution date to make distributions of all interest on that distribution date to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB and Class A-5 certificates, interest distributions on the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB and Class A-5 certificates will be based upon amounts available relating to mortgage loans in loan group 1 and interest distributions on the Class A-1A certificates will be based upon amounts available relating to mortgage loans in loan group 2.
See ‘‘DESCRIPTION OF THE CERTIFICATES— Certificate Balances and Notional Amounts’’ and ‘‘— Distributions’’ in this prospectus supplement.
The Class X-P, Class X-C and Class X-W certificates will be entitled to distributions of interest only on their respective notional amounts. The notional amounts of each of these classes of certificates are calculated as described under ‘‘DESCRIPTION OF THE CERTIFICATES—Certificate Balances and Notional Amounts’’ in this prospectus supplement.
Each of the Class X-P, Class X-C and Class X-W certificates will accrue interest at a rate as described under ‘‘DESCRIPTION OF THE CERTIFICATES—Pass-Through Rates’’ in this prospectus supplement.
The certificates (other than the Class A-MFL, the Class Z, Class R-I and Class R-II certificates) and the Class A-MFL regular interest will accrue interest on the basis of a 360-day year consisting of twelve 30-day months.
The interest accrual period with respect to any distribution date and any class of certificates (other than the Class A-MFL, Class Z, Class R-I and Class R-II certificates) and the Class A-MFL regular interest is the calendar month preceding the month in which such distribution date occurs.
As reflected in the chart under ‘‘—Priority of Distributions’’ beginning on page S-15 above, on each distribution date, the trustee will distribute interest to the holders of the offered certificates, the Class A-MFL regular interest, the Class X-P, Class X-C and Class X-W certificates:
first, pro rata, to the Class X-P, Class X-C, Class X-W, Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 and Class A-1A certificates as described above under ‘‘—Priority of Distributions’’, and then to each other class of offered certificates and the Class A-MFL regular interest in order of priority of payment; and
only to the extent funds remain after the trustee makes all distributions of interest and principal required to be made on such date to each class of certificates with a higher priority of distribution.

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Holders of offered certificates may, in certain circumstances, also receive distributions of prepayment premiums and yield maintenance charges collected on the mortgage loans included in the trust fund. These distributions are in addition to the distributions of principal and interest described above. See ‘‘DESCRIPTION OF THE CERTIFICATES—Distributions’’ in this prospectus supplement.
Pass-Through Rates The pass-through rate for each class of certificates (other than the Class X-P, Class X-C, Class X-W, Class Z, Class R-I and Class R-II certificates) on each distribution date is set forth above under ‘‘OVERVIEW OF THE CERTIFICATES’’ in this prospectus supplement. The pass-through rate of the Class A-MFL regular interest on each distribution date will be a fixed rate of 5.313% per annum.
The pass-through rates applicable to the Class X-P certificates, the Class X-C certificates and the Class X-W certificates are described under ‘‘DESCRIPTION OF THE CERTIFICATES—Pass-Through Rates’’ in this prospectus supplement.
The weighted average net mortgage rate for each distribution date is the weighted average of the net mortgage rates for the mortgage loans included in the trust fund as of the beginning of the related collection period, weighted on the basis of their respective stated principal balances immediately following the preceding distribution date; provided that, for the purpose of determining the weighted average net mortgage rate only, if the mortgage rate for any mortgage loan included in the trust fund has been modified in connection with a bankruptcy or similar proceeding involving the related borrower or a modification, waiver or amendment granted or agreed to by the special servicer, the weighted average net mortgage rate for that mortgage loan will be calculated without regard to that event. The net mortgage rate for each mortgage loan included in the trust fund will generally equal:
the mortgage interest rate in effect for that mortgage loan as of the closing date; minus
the applicable administrative cost rate, as described in this prospectus supplement.
Any increase in the interest rate of a mortgage loan as a result of not repaying the outstanding principal amount of such mortgage loan by the related anticipated repayment date will be disregarded for purposes of calculating the net mortgage rate.
For the purpose of calculating the weighted average net mortgage rate, the mortgage rate of each mortgage loan will be deemed adjusted as described under ‘‘DESCRIPTION OF THE CERTIFICATES—Pass-Through Rates’’ in this prospectus supplement.

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The stated principal balance of each mortgage loan included in the trust fund will generally equal the principal balance of that mortgage loan as of the cut-off date, reduced as of any date of determination (to not less than zero) by:
the portion of the principal distribution amount for the related distribution date that is attributable to that mortgage loan; and
the principal portion of any realized loss incurred in respect of that mortgage loan during the related collection period.
The stated principal balance of any mortgage loan as to which the mortgage rate is reduced through a modification may be increased in certain circumstances by the amount of the resulting interest reduction. See ‘‘DESCRIPTION OF THE CERTIFICATES—Pass-Through Rates’’ in this prospectus supplement.
Principal Distributions On the closing date, each class of certificates (other than the Class X-P, Class X-C, Class X-W, Class Z, Class R-I and Class R-II certificates) will have the certificate balance set forth above under ‘‘OVERVIEW OF THE CERTIFICATES’’ and the Class A-MFL regular interest will have a certificate balance equal to the certificate balance of the Class A-MFL certificates. The certificate balance for each class of certificates and the Class A-MFL regular interest entitled to receive principal may be reduced by:
distributions of principal; and
allocations of realized losses and trust fund expenses.
The certificate balance or notional amount of a class of certificates and the Class A-MFL regular interest may be increased in certain circumstances by the allocation of any increase in the stated principal balance of any mortgage loan resulting from the reduction of the related mortgage rate through modification. See ‘‘DESCRIPTION OF THE CERTIFICATES—Certificate Balances and Notional Amounts’’ in this prospectus supplement.
The Class X-P, Class X-C and Class X-W certificates do not have principal balances and will not receive distributions of principal.
As reflected in the chart under ‘‘—Priority of Distributions’’ above:
generally, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB and Class A-5 certificates will only be entitled to receive distributions of principal collected or advanced in respect of mortgage loans in loan group 1 until the certificate principal balance of the Class A-1A certificates has been reduced to zero, and the Class A-1A certificates will only be entitled to receive distributions of

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principal collected or advanced in respect of mortgage loans in loan group 2 until the certificate principal balances of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB and Class A-5 certificates have been reduced to zero; provided, however, the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-5 certificates will not be entitled to distributions of principal from either loan group 1 or loan group 2 until the certificate principal balance of the Class A-PB certificates is reduced to the planned principal balance set forth on Annex F to this prospectus supplement;
principal is distributed to each class of certificates and the Class A-MFL regular interest entitled to receive distributions of principal in the order described under ‘‘DESCRIPTION OF THE CERTIFICATES— Distributions’’ in this prospectus supplement;
principal is only distributed on a related class of certificates or the Class A-MFL regular interest to the extent funds remain after the trustee makes all distributions of principal and interest on those classes of certificates or the Class A-MFL regular interest with a higher priority of distribution as described under ‘‘DESCRIPTION OF THE CERTIFICATES—Distributions’’ in this prospectus supplement;
generally, no class of certificates or the Class A-MFL regular interest is entitled to distributions of principal until the certificate balance of each class of certificates and the Class A-MFL regular interest with a higher priority of distribution as described under ‘‘DESCRIPTION OF THE CERTIFICATES—Distributions’’ in this prospectus supplement has been reduced to zero;
in no event will the holders of the Class A-M, Class A-J, Class B, Class C, Class D, Class E or Class F certificates, the Class A-MFL regular interest or the classes of non-offered certificates be entitled to receive any distributions of principal until the certificate balances of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 and Class A-1A certificates have all been reduced to zero; and
on any distribution date, distributions in reduction of the certificate balance of the Class A-MFL certificates will be made in an amount equal to the amount of principal distributed in respect of the Class A-MFL regular interest.
The amount of principal to be distributed for each distribution date generally will be an amount equal to:
the scheduled principal payments (other than balloon payments) due on the mortgage loans included in the

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trust fund during the related collection period whether or not those scheduled payments are actually received;
balloon payments actually received with respect to mortgage loans included in the trust fund during the related collection period;
prepayments received with respect to the mortgage loans included in the trust fund during the related collection period; and
all liquidation proceeds, insurance proceeds, condemnation awards and repurchase and substitution amounts received during the related collection period that are allocable to principal.
For purposes of making distributions to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 and Class A-1A certificates, the principal distribution amount for each loan group on any distribution date will be equal to the sum of the collections specified above but only to the extent such amounts relate to the mortgage loans comprising the specified loan group.
However, if the master servicer or the trustee reimburses itself out of general collections on the mortgage pool for any advance that it or the special servicer has determined is not recoverable out of collections on the related mortgage loan and certain advances that are determined not to be reimbursed currently in connection with the work-out of a mortgage loan, then those advances (together with accrued interest thereon) will be deemed, to the fullest extent permitted pursuant to the terms of the pooling and servicing agreement, to be reimbursed first out of payments and other collections of principal otherwise distributable on the principal balance certificates, prior to, in the case of nonrecoverable advances only, being deemed reimbursed out of payments and other collections of interest otherwise distributable on the offered certificates.
Subordination; Allocation of Losses and     Certain Expenses Credit support for any class of certificates (other than the Class X-P, Class X-C, Class X-W, Class Z, Class R-I and Class R-II certificates) is provided by the subordination of payments and allocation of any losses to such classes of certificates which have a later priority of distribution. However, none of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 or Class A-1A certificates will be subordinate to any other class of Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5 or Class A-1A certificates. The certificate balance of a class of certificates (other than the Class X-P, Class X-C, Class X-W, Class Z, Class R-I and Class R-II certificates) or the Class A-MFL regular interest will be reduced on each distribution date by

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any losses on the mortgage loans that have been realized and certain additional trust fund expenses actually allocated to that class of certificates or the Class A-MFL regular interest on that distribution date. In addition, while mortgage loan losses will not be directly allocated to the Class A-MFL certificates, mortgage loan losses may be allocated to the Class A-MFL regular interest in reduction of the certificate balance of the Class A-MFL regular interest and the amount of its interest entitlement. Any decrease in the certificate balance of the Class A-MFL regular interest will result in a corresponding decrease in the certificate balance of the Class A-MFL certificates, and any interest shortfalls suffered by the Class A-MFL regular interest will reduce the amount of interest distributed on the Class A-MFL certificates, to the extent described in this prospectus supplement.
Losses on the mortgage loans that have been realized and additional trust fund expenses will be allocated without regard to loan group and will first be allocated to the certificates (other than the Class A-MFL, the Class X-P, Class X-C, Class X-W,Class Z, Class R-I and Class R-II certificates) and the Class A-MFL regular interest that are not offered by this prospectus supplement and then to the offered certificates as indicated on the following table:

Class Designation Original
Certificate
Balance
Percentage
of Cut-Off
Date Pool
Balance
Order of
Application
of Losses and
Expenses
Class A-1 $ 35,195,000
0.445
%
9
Class A-2 $ 100,000,000
1.265
%
9
Class A-3 $ 908,744,000
11.498
%
9
Class A-4 $ 195,542,000
2.474
%
9
Class A-PB $ 126,906,000
1.606
%
9
Class A-5 $ 1,876,383,000
23.741
%
9
Class A-1A $ 2,289,679,000
28.970
%
9
Class A-M $ 540,349,000
6.837
%
8
Class A-MFL* $ 250,000,000
3.163
%
8
Class A-J $ 671,798,000
8.500
%
7
Class B $ 49,397,000
0.625
%
6
Class C $ 79,035,000
1.000
%
5
Class D $ 69,155,000
0.875
%
4
Class E $ 59,277,000
0.750
%
3
Class F $ 69,155,000
0.875
%
2
Non-offered certificates (excluding the Class A-MFL, Class X-P, Class X-C, Class X-W, Class R-I, Class R-II and Class Z certificates) $ 582,883,737
7.375
%
1
* The Class A-MFL certificates are not offered hereby.
Any losses realized on the mortgage loans included in the trust fund or additional trust fund expenses allocated in reduction of the certificate balance of any class of sequential pay certificates (other than the Class A-MFL certificates) or the Class A-MFL regular interest will result in a corresponding reduction in the notional amount of the

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Class X-C and Class X-W certificates and, with respect to the Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J and Class K certificates and the Class A-MFL regular interest and portions of the Class A-1 and Class A-1A certificates, a corresponding reduction in the notional amount of the Class X-P certificates.
Any losses and expenses that are associated with each co-lender loan will be allocated in accordance with the related intercreditor agreement. Specifically, with respect to the mortgage loans with one or more pari passu companion loans, any losses and expenses that are associated with the applicable whole loan will be allocated in accordance with the terms of the related intercreditor agreement, generally, pro rata between each related mortgage loan (and, therefore, to the certificates, other than the Class A-MFL, Class X-P, Class X-C, Class X-W, Class Z, Class R-I and Class R-II certificates, and the Class A-MFL regular interest) and the related pari passu companion loan(s). Further, with regard to the mortgage loans with subordinate companion loans, any losses and expenses that are associated with the applicable whole loan will be allocated, in accordance with the terms of the related intercreditor agreement, generally, first, to the subordinate companion loan, and second, to the related mortgage loan (and the related pari passu companion loan, if applicable). The portions of those losses and expenses that are allocated to the mortgage loans that are included in the trust fund will be allocated among the Series 2007-C30 certificates in the manner described above.
See ‘‘DESCRIPTION OF THE CERTIFICATES— Subordination; Allocation of Losses and Certain Expenses’’ in this prospectus supplement.
Fees and Expenses Certain fees and expenses are payable from amounts received on the mortgage loans in the trust fund and are generally distributed prior to any amounts being paid to the holders of the offered certificates.
The master servicer is entitled to the master servicing fee which is payable monthly on a loan-by-loan basis from amounts received in respect of interest on each mortgage loan and each specially serviced mortgage loan (and from revenue with respect to each REO mortgage loan). The master servicing fee accrues at the related master servicing fee rate and is computed on the basis of the same principal amount respecting which any related interest payment due on the mortgage loan is computed. The weighted average master servicing fee rate will be approximately 0.02105% per annum as of the cut-off date.
The special servicer is entitled to the special servicing fee which is payable monthly on each mortgage loan that is a specially serviced mortgage loan and each REO mortgage

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loan from general collections on the mortgage loans. The special servicing fee accrues at a rate equal to 0.25% per annum and is computed on the basis of the same principal amount respecting which any related interest payment due on such specially serviced mortgage loan or REO mortgage loan, as the case may be, is paid.
The special servicer is also entitled to a liquidation fee with respect to each specially serviced mortgage loan that is generally an amount equal to 1.00% of any whole or partial cash payments of liquidation proceeds received in respect thereof or, with respect to the Peter Cooper Village & Stuyvesant Town mortgage loan, the lesser of (i) 0.50% of any whole or partial cash payments of liquidation proceeds received in respect thereof and (ii) $15,000,000; provided, however, in no event will the liquidation fee be payable to the extent a workout fee is payable concerning the related cash payments.
The special servicer also is entitled to a workout fee with respect to each mortgage loan that is no longer a specially serviced mortgage loan that is generally equal to 1.00% of all payments of interest and principal received on such mortgage loan for so long as it remains a corrected mortgage loan or, with respect to the Peter Cooper Village & Stuyvesant Town mortgage loan, the lesser of (i) 0.50% of all payments of interest and principal received on such mortgage loan for so long as it remains a corrected mortgage loan, and (ii) $15,000,000.
The trustee is entitled to a trustee fee for each mortgage loan and each REO mortgage loan for any distribution date equal to one-twelfth of the product of the trustee fee rate calculated on the outstanding principal amount of the pool of mortgage loans in the trust fund. The trustee fee accrues at a per annum rate equal to 0.00028% on the stated principal balance of such mortgage loan or REO mortgage loan, as the case may be, outstanding immediately following the prior distribution date.
The master servicer, special servicer and trustee are entitled to certain other additional fees and reimbursement of expenses. All fees and expenses will generally be payable prior to distribution on the certificates.
Further information with respect to the fees and expenses payable from distributions to certificateholders, including information regarding the general purpose of and the source of payment for the fees and expenses, is set forth under ‘‘SERVICING OF THE MORTGAGE LOANS— Compensation and Payment of Expenses’’ in this prospectus supplement. The master servicer and the special servicer under the pooling and servicing agreement entered into in connection with the issuance of the LB-UBS Commercial

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Mortgage Trust 2007-C1, Commercial Mortgage Pass-Through Certificates, Series 2007-C1 are each generally entitled to payment of similar fees and expenses described in this section.
Prepayment Premiums; Yield
    Maintenance Charges
On each distribution date, any prepayment premium or yield maintenance charge actually collected during the related collection period on a mortgage loan included in the trust fund will be distributed to the holders of each class of offered certificates, the Class A-MFL regular interest and the Class G, Class H, Class J and Class K certificates then entitled to distributions as follows:
The holders of each class of offered certificates, the Class A-MFL regular interest and the Class G, Class H, Class J and Class K certificates then entitled to distributions of principal with respect to the related loan group on that distribution date will generally be entitled to a portion of prepayment premiums or yield maintenance charges equal to the product of:
the amount of those prepayment premiums or yield maintenance charges;
a fraction (in no event greater than one), the numerator of which is equal to the excess, if any, of the pass-through rate of that class of certificates or the Class A-MFL regular interest over the relevant discount rate, and the denominator of which is equal to the excess, if any, of the mortgage interest rate of the prepaid mortgage loan over the relevant discount rate; and
a fraction, the numerator of which is equal to the amount of principal distributable on that class of certificates or the Class A-MFL regular interest on that distribution date, and the denominator of which is the principal distribution amount for that distribution date.
If there is more than one class of certificates (or the Class A-MFL regular interest) entitled to distributions of principal with respect to the related loan group on any particular distribution date on which a prepayment premium or yield maintenance charge is distributable, the aggregate amount of that prepayment premium or yield maintenance charge will be allocated among all such classes up to, and on a pro rata basis in accordance with, the foregoing entitlements.
For so long as the swap contract is in effect and there is no continuing payment default under the swap contract, any prepayment premium or yield maintenance charge distributable in respect of the Class A-MFL regular interest will be payable to the swap counterparty pursuant to the terms of the swap contract. If the swap contract is no longer in effect or if there is a continuing payment default related to

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the swap contract, any prepayment premium and yield maintenance charges allocable to the Class A-MFL regular interest will be paid to the holders of the Class A-MFL certificates.
The portion, if any, of the prepayment premiums or yield maintenance charges remaining after any payments described above will be distributed to the holders of the Class X-C, Class X-P and Class X-W certificates as described in ‘‘DESCRIPTION OF THE CERTIFICATES—Distributions —Allocation of Prepayment Premiums and Yield Maintenance Charges’’ in this prospectus supplement.
The ‘‘discount rate’’ applicable to any class of offered certificates, the Class A-MFL regular interest and the Class G, Class H, Class J and Class K certificates will be equal to the discount rate stated in the related mortgage loan documents used in calculating the yield maintenance charge with respect to such principal prepayment. To the extent that a discount rate is not stated therein, the discount rate will equal the yield (when compounded monthly) on the U.S. Treasury issue with a maturity date closest to the maturity date for the prepaid mortgage loan or mortgage loan for which title to the related mortgaged property was acquired by the trust fund.
In the event that there are two or more such U.S. Treasury issues with the same coupon, the issue with the lowest yield will be utilized; and
In the event that there are two or more such U.S. Treasury issues with maturity dates equally close to the maturity date for the prepaid mortgage loan, the issue with the earliest maturity date will be utilized.
Examples of Allocation of Prepayment Premiums or Yield
Maintenance Charges

Mortgage interest rate 8
%
Pass-through rate for applicable class 6
%
Discount rate 5
%

Allocation Percentage
for Applicable Class
Allocation Percentage
for Class X-P
      6% − 5%       =    33 1/3%             (100% – 33 1/3%) x 7%    =    4 2/3%
      8% − 5%      

Allocation Percentage
for Applicable Class
Allocation Percentage
for Class X-C
      6% − 5%       =    33 1/3%             (100% – 33 1/3%) x 18%    =    12%
      8% − 5%      

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Allocation Percentage
for Applicable Class
Allocation Percentage
for Class X-W
      6% − 5%       =    33 1/3%             (100% – 33 1/3%) x 75%    =    50%
      8% − 5%      
See ‘‘DESCRIPTION OF THE CERTIFICATES— Distributions—Allocation of Prepayment Premiums and Yield Maintenance Charges’’ in this prospectus supplement.
Allocation of Additional Interest On each distribution date, any additional interest collected in respect of a mortgage loan in the trust fund with an anticipated repayment date during the related collection period will be distributed to the holders of the Class Z certificates. In each case, this interest will not be available to provide credit support for other classes of certificates or offset any interest shortfalls.
Advancing of Principal and Interest The master servicer is required to advance delinquent scheduled payments of principal and interest with respect to any mortgage loan included in the trust fund unless the master servicer or the special servicer determines that the advance would not be recoverable from proceeds of the related mortgage loan. The master servicer will not be required to advance balloon payments due at maturity in excess of regular periodic payments, interest in excess of the mortgage loan’s regular interest rate or prepayment premiums or yield maintenance charges. The amount of the interest portion of any advance will be subject to reduction to the extent that an appraisal reduction of the related mortgage loan has occurred. If the master servicer fails to make a required advance, the trustee will be required to make that advance, unless the trustee determines that the advance would not be recoverable from proceeds of the related mortgage loan. With respect to the State Street Financial Center mortgage loan, the master servicer under the LB-UBS 2007-C1 pooling and servicing agreement is not required to advance delinquent principal and/or interest payments with respect to the portion of the State Street Financial Center whole loan that is included in this trust fund, therefore, the master servicer will be required to make any such principal and/or interest advance unless the master servicer determines that such advance would not be recoverable. See ‘‘DESCRIPTION OF THE CERTIFICATES—P&I Advances’’ in this prospectus supplement.
These cash advances are only intended to maintain a regular flow of scheduled principal and interest payments on the certificates and are not intended to guarantee or insure against losses. In other words, the advances are intended to provide liquidity (rather than credit enhancement) to certificateholders. To the extent described in this prospectus supplement, the trust fund will pay interest to the master servicer or the trustee, as the case may be, on the amount of

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any principal and interest cash advance calculated at the prime rate (provided that no principal and/or interest cash advance shall accrue interest until after the expiration of any applicable grace or cure period for the related scheduled payment) and will reimburse the master servicer or the trustee for any principal and interest cash advances that are later determined to be not recoverable. Any principal and/or interest advance on any pari passu companion loan will not be recoverable by the master servicer from the trust fund. Neither the master servicer nor the trustee will be required to make a principal and/or interest advance with respect to any subordinate companion loan. Additionally, the trustee will not be required to make a principal and interest advance with respect to any companion loan. Neither the master servicer nor the trustee will be required to advance any amounts due to be paid by the swap counterparty for a distribution to the Class A-MFL certificates or advance for any breakage, termination or other costs owed by the trust fund to the swap counterparty. See ‘‘DESCRIPTION OF THE CERTIFICATES—P&I Advances’’ in this prospectus supplement.
Required Repurchases or Substitutions
    of Mortgage Loans
Under certain circumstances, a mortgage loan seller may be obligated to repurchase an affected mortgage loan from the trust fund as a result of a material document defect or a material breach of the representations and warranties given by such mortgage loan seller with respect to the mortgage loan in the related mortgage loan purchase agreement. In addition, the mortgage loan seller may be permitted, within 2 years of the closing date, to substitute another mortgage
loan for the affected mortgage loan rather than repurchasing it. See ‘‘DESCRIPTION OF THE MORTGAGE POOL— Assignment of the Mortgage Loans; Repurchases and Substitutions’’ and ‘‘—Representations and Warranties; Repurchases and Substitutions’’ in this prospectus supplement.
Sale of Defaulted Loans In the event a mortgage loan (other than the State Street Financial Center mortgage loan) becomes a defaulted mortgage loan, the certificateholder that is entitled to greater than 50% of the voting rights allocated to the class of sequential pay certificates with the lowest payment priority then outstanding (or if no certificateholder is entitled to greater than 50% of the voting rights of such class, the certificateholder with the largest percentage of voting rights allocated to such class) and, in certain circumstances, the special servicer (in each case, subject to, in certain instances, the rights of the subordinated secured creditors or mezzanine lenders to purchase the related mortgage loan), shall have, except as described below, the option to purchase from the trust fund such defaulted mortgage loan with respect to

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which certain defaults have occurred. With respect to the Peter Cooper Village & Stuyvesant Town mortgage loan, the certificateholder described above, subject to the same circumstances described above, shall have the option to purchase the defaulted mortgage loan from the trust fund so long as it also purchases each related pari passu companion loan. In the event such certificateholder does not exercise its purchase option within a certain specified period, the holders of the related pari passu companion loans will each have the option to purchase the Peter Cooper Village & Stuyvesant Town mortgage loan so long as that holder also purchases each related pari passu companion loan, each in accordance with the related intercreditor agreement. In the event no holder of a related pari passu companion loan exercises its purchase option, then the holder of the most subordinate class of sequential pay certificates shall then have the option to purchase just the portion of the Peter Cooper Village & Stuyvesant Town whole loan included in the trust fund. See ‘‘SERVICING OF THE MORTGAGE LOANS—Defaulted Mortgage Loans; REO Properties; Purchase Option’’ in this prospectus supplement.
In addition, with respect to 16 mortgage loans (loan numbers 1, 2, 4, 5, 7, 14, 18, 29, 33, 43, 45, 80, 85, 159, 171 and 218) representing approximately 41.0% of the mortgage pool (13 mortgage loans in loan group 1 or 30.4% and 3 mortgage loans in loan group 2 or 67.1%) that are part of split loan structures that include pari passu and/or one or more subordinate companion loans, the related intercreditor agreement entitles the holder(s) of the related companion loan to purchase the mortgage loan from the trust fund following a default under the related whole loan. SEE ‘‘DESCRIPTION OF THE MORTGAGE POOL—Co-Lender Loans’’.
Reimbursement Entitlement of Servicer
    of the LB-UBS 2007-C1 Trust Fund
The master servicer and, in certain circumstances, the special servicer under the LB-UBS Commercial Mortgage Trust 2007-C1, Commercial Mortgage Pass-Through Certificates, Series 2007-C1 trust fund are each entitled to reimbursement of its pro rata share of servicing advances made with respect to the State Street Financial Center mortgage loan. In the event principal and interest payments related to the State Street Financial Center mortgage loan are insufficient to reimburse such master servicer or special servicer, reimbursement may be obtained from the other mortgage loans in the trust fund.
Optional Termination of the Trust
    Fund
The trust fund may be terminated when the aggregate principal balance of the mortgage loans included in the trust fund is less than 1.0% of the aggregate principal balance of the pool of mortgage loans included in the trust fund as of the

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cut-off date. See ‘‘DESCRIPTION OF THE CERTIFICATES—Termination’’ in this prospectus supplement and in the accompanying prospectus.
The trust fund may also be terminated when the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E and Class F certificates and the Class A-MFL regular interest have been paid in full and all of the remaining certificates (other than the Class Z, Class R-I and Class R-II certificates) are held by a single certificateholder. See ‘‘DESCRIPTION OF THE CERTIFICATES— Termination’’ in this prospectus supplement.
Registration and Denomination The offered certificates will initially be registered in the name of Cede & Co., as nominee for The Depository Trust Company in the United States, or in Europe through Clearstream Banking société anonyme or Euroclear Bank S.A./N.V., as operator of the Euroclear System. You will not receive a definitive certificate representing your interest in the trust fund, except in the limited circumstances described in the accompanying prospectus. See ‘‘DESCRIPTION OF THE CERTIFICATES—Book-Entry Registration and Definitive Certificates’’ in the accompanying prospectus.
Beneficial interests in the Class A-1, Class A-2, Class A-3, Class A-4, Class A-PB, Class A-5, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E and Class F certificates will be offered in minimum denominations of $10,000 actual principal amounts and in integral multiples of $1 in excess of those amounts.
Material Federal Income Tax
    Consequences
Two separate real estate mortgage investment conduit elections will be made with respect to the trust fund (‘‘REMIC I’’ and ‘‘REMIC II’’, each, a ‘‘REMIC’’). The offered certificates will evidence regular interests in a REMIC and generally will be treated as debt instruments of that REMIC. The Class R-I certificates will represent the residual interests in REMIC I and the Class R-II certificates will represent the residual interests in REMIC II. The Class A-MFL certificates will represent an undivided interest in a portion of the trust fund that is treated as a grantor trust for United States federal income tax purposes. That portion of the grantor trust will include the Class A-MFL regular interest, the floating rate account and the swap contract. The Class A-MFL certificates are not being offered by this prospectus supplement.
In addition, the Class Z certificateholders’ entitlement to any additional interest that has accrued on a related mortgage loan that provides for the accrual of that additional interest if the unamortized principal amount of that mortgage loan is not repaid on the anticipated repayment date set forth in the related mortgage note will be treated as part of a grantor

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trust (as described in the related prospectus) for federal income tax purposes.
The offered certificates will be treated as newly originated debt instruments for federal income tax purposes. You will be required to report income with respect to the offered certificates using the accrual method of accounting, even if you otherwise use the cash method of accounting. It is anticipated that the offered certificates will be treated as having been issued at a premium for federal income tax reporting purposes.
For further information regarding the federal income tax consequences of investing in the offered certificates, see ‘‘MATERIAL FEDERAL INCOME TAX CONSEQUENCES’’ in this prospectus supplement and in the accompanying prospectus.
ERISA Considerations Subject to important considerations described under ‘‘ERISA CONSIDERATIONS’’ in this prospectus supplement and the accompanying prospectus, the following classes of offered certificates may be eligible for purchase by persons investing assets of employee benefit plans, individual retirement accounts, or other retirement plans and accounts:
Class A-1
Class A-2
Class A-3
Class A-4
Class A-PB
Class A-5
Class A-1A
Class A-M
Class A-J
Class B
Class C
Class D
Class E
Class F
This is based on individual prohibited transaction exemptions granted to each of Wachovia Capital Markets, LLC, Credit Suisse Securities (USA) LLC, Merrill Lynch & Co. and Goldman, Sachs & Co. by the U.S. Department of Labor. See ‘‘ERISA CONSIDERATIONS’’ in this prospectus supplement and in the accompanying prospectus.
Legal Investment The offered certificates will not constitute ‘‘mortgage related securities’’ for purposes of the Secondary Mortgage Market Enhancement Act of 1984, as amended (‘‘SMMEA’’). If your investment activities are subject to legal investment laws and regulations, regulatory capital requirements, or review by regulatory authorities, then you may be subject to restrictions on investment in the offered certificates. You should consult your own legal advisers for assistance in determining the suitability of and consequences to you of the purchase,

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ownership and sale of the offered certificates. See ‘‘LEGAL INVESTMENT’’ in this prospectus supplement and in the accompanying prospectus.
Ratings The offered certificates will not be issued unless they have received the following ratings from Fitch, Inc., Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Services, Inc., a division of The McGraw-Hill Companies, Inc.

Class Expected Rating
from Fitch/Moody’s/S&P
Class A-1 AAA/Aaa/AAA
Class A-2 AAA/Aaa/AAA
Class A-3 AAA/Aaa/AAA
Class A-4 AAA/Aaa/AAA
Class A-PB AAA/Aaa/AAA
Class A-5 AAA/Aaa/AAA
Class A-1A AAA/Aaa/AAA
Class A-M AAA/Aaa/AAA
Class A-J AAA/Aaa/AAA
Class B AA+/Aa1/AA+
Class C AA/Aa2/AA
Class D AA−/Aa3/AA−
Class E A+/A1/A+
Class F A/A2/A
The ratings on the offered certificates address the likelihood of timely receipt of interest and ultimate receipt of principal by the rated final distribution date by the holders of offered certificates. They do not address the likely actual rate of prepayments. The rate of prepayments, if different than originally anticipated, could adversely affect the yield realized by holders of the offered certificates. See ‘‘RATINGS’’ in this prospectus supplement and in the accompanying prospectus for a discussion of the basis upon which ratings are given, the limitations and restrictions on the ratings, and conclusions that should not be drawn from a rating.

THE MORTGAGE LOANS

General It is expected that the mortgage loans to be included in the trust fund will have the following approximate characteristics as of the cut-off date. The information contained in this prospectus supplement assumes the timely delivery of all scheduled payments of interest and principal and no prepayments on or before the cut-off date. All information presented in this prospectus supplement (including cut-off date balance per square foot/unit/room/pad/bed, loan-to-value ratios and debt service coverage ratios) with respect to the 13 mortgage loans with subordinate companion loans is calculated without regard to the related subordinate companion loans. Unless otherwise specified, in the case of

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the mortgage loans with one or more pari passu companion loans, the calculations of loan balance per square foot/room/unit, loan-to-value ratios and debt service coverage ratios were based on the aggregate indebtedness of these mortgage loans and the related pari passu companion loans, if any (but not any subordinate companion loan or future pari passu companion loan). All percentages of the mortgage loans, or any specified group of mortgage loans, referred to in this prospectus supplement are approximate percentages.
The totals in the following tables may not add up to 100% due to rounding.

  All
Mortgage
Loans(1)
Loan Group 1 Loan Group 2(1)
Number of Mortgage Loans 263
212
51
Number of Crossed Loan Pools 7
7
0
Number of Mortgaged Properties 328
274
54
Aggregate Balance of all Mortgage Loans $ 7,903,498,737
$ 5,613,819,111
$ 2,289,679,626
Number of Mortgage Loans with Balloon Payments(2) 140
124
16
Aggregate Balance of Mortgage Loans with Balloon Payments(2) $ 2,073,861,414
$ 1,897,157,288
$ 176,704,126
Number of Mortgage Loans with Anticipated Repayment Date(3) 5
5
0
Aggregate Balance of Mortgage Loans with Anticipated Repayment Date(3) $ 31,563,383
$ 31,563,383
$ 0
Number of Fully Amortizing Mortgage Loans 2
2
0
Aggregate Balance of Fully Amortizing Mortgage Loans $ 6,712,440
$ 6,712,440
$ 0
Number of Interest-Only Mortgage Loans(4) 116
81
35
Aggregate Balance of Interest-Only Mortgage Loans(4) $ 5,791,361,500
$ 3,678,386,000
$ 2,112,975,500
Average Balance of Mortgage Loans $ 30,051,326
$ 26,480,279
$ 44,895,679
Minimum Balance of Mortgage Loans $ 860,000
$ 860,000
$ 1,300,000
Maximum Balance of Mortgage Loans $ 1,500,000,000
$ 536,000,000
$ 1,500,000,000
Maximum Balance for a group of cross-collateralized and cross-defaulted Mortgage Loans $ 36,570,000
(5)
$ 36,570,000
(5)
$ 0
Weighted Average LTV ratio(6)(7) 70.4
%
74.1
%
61.2
%
Minimum LTV ratio(6) 36.4
%
36.4
%
41.7
%
Maximum LTV ratio(6) 87.2
%
87.2
%
80.0
%
Weighted Average LTV at Maturity or Anticipated Repayment Date(6)(7) 68.6
%
71.8
%
60.6
%
Weighted Average DSCR(7)(8) 1.40
x
1.32
x
1.60
x
Minimum DSCR 1.06
x
1.06
x
1.16
x
Maximum DSCR 3.47
x
3.47
x
2.36
x
Weighted Average Mortgage Loan interest rate 5.852
%
5.717
%
6.183
%
Minimum Mortgage Loan interest rate 5.180
%
5.280
%
5.180
%
Maximum Mortgage Loan interest rate 6.830
%
6.830
%
6.434
%
Weighted Average Remaining Term to Maturity or Anticipated Repayment Date (months) 108
107
113
Minimum Remaining Term to Maturity or Anticipated Repayment Date (months) 56
56
58
Maximum Remaining Term to Maturity or Anticipated Repayment Date (months) 132
132
120
Weighted Average Occupancy Rate(9) 94.5
%
93.8
%
96.2
%
(1) With respect to 1 mortgage loan (loan number 1), the related borrower is permitted to obtain up to $300,000,000 of any combination of pari

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passu mortgage debt secured by a second mortgage on the related mortgaged property and/or subordinate mezzanine debt at any time between November 2011 and May 2013, subject to certain conditions. For purposes of these numbers it has been assumed that such future debt is not advanced. For a description of the debt service coverage ratios and loan-to-value ratios, see ‘‘Peter Cooper Village & Stuyvesant Town’’ in Annex D to this prospectus supplement.
(2) Does not include mortgage loans with anticipated repayment dates or mortgage loans that are interest-only for their entire term.
(3) Does not include mortgage loans that are interest-only for their entire term.
(4) Includes mortgage loans with anticipated repayment dates that are interest-only for the entire period until the anticipated repayment date.
(5) Consists of a group of 3 individual mortgage loans (loan numbers  63, 163 and 166).
(6) For a description of how the loan-to-value ratios for the mortgage loans are determined, see ‘‘DESCRIPTION OF THE MORTGAGE POOL—Additional Mortgage Loan Information’’ in this prospectus supplement.
(7) Certain of the mortgage loans reflect LTV ratios that have been calculated on an ‘‘as-stabilized’’ basis, or that have LTV ratios or DSCRs that have been adjusted to take into account certain cash reserves or letters of credit. See ‘‘DESCRIPTION OF THE MORTGAGE POOL—Additional Mortgage Loan Information’’ and ‘‘RISK FACTORS—Risks Relating to Net Cash Flow’’ and ‘‘—Inspections and Appraisals May Not Accurately Reflect Value or Condition of Mortgaged Property’’ in this prospectus supplement.
(8) With respect to 1 mortgage loan (loan number 1) representing approximately 19.0% of the mortgage pool (65.5% of loan group 2), the underwritten net cash flow used to calculate the debt service coverage ratio was determined using future cash flow projections that include various assumptions including an assumed annual rate of conversion of units from rent-stabilized units to deregulated units. For a description of how the debt service coverage ratios for the mortgage loans are determined, see ‘‘DESCRIPTION OF THE MORTGAGE POOL—Additional Mortgage Loan Information’’ and ‘‘RISK FACTORS—Risks Relating to Net Cash Flow’’ in this prospectus supplement and the description of the Peter Cooper Village and Stuyvesant Town mortgage loan in Annex D to this prospectus supplement.
(9) Does not include 18 hospitality properties, representing, by allocated loan amount, 5.2% of the mortgage pool (7.3% of the loan group 1). In certain cases, occupancy includes space for which leases have been executed, but the tenant has not taken occupancy and/or commenced paying rent.
Security for the Mortgage Loans in the
    Trust Fund
Generally, all of the mortgage loans included in the trust fund are non-recourse obligations of the related borrowers.
No mortgage loan included in the trust fund is insured or guaranteed by any government agency or private insurer.
All of the mortgage loans included in the trust fund are secured by first lien fee mortgages and/or leasehold mortgages on commercial properties or multifamily properties.

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Property Types The following table describes the mortgaged properties securing the mortgage loans expected to be included in the trust fund as of the cut-off date:

Mortgaged Properties by Property Type(1)


Property Type Number of
Mortgaged
Properties
Aggregate
Cut-Off Date
Balance
Percentage of
Cut-Off Date
Pool Balance
Percentage of
Cut-Off Date
Group 1
Balance
Percentage of
Cut-Off Date
Group 2
Balance
Office 82
$ 3,397,538,675
43.0
%
60.5