So in N1 mode you get the thrust required for the climb
It goes to max N1, remember that is the reason why the T/O profile has you take the time after seting the THR switch because there is a time limit of 5 minutes at this power setting, so don't forget once you have reached VREF 30+ 80kts and brought your flaps up to call for "FLCH, set VREF 30+80kts (or the speed, both of them are acceptable) set MCT, A/P center command" the set MCT call is very important so as not to bust the limitation and all these calls should come one right after the other. Only after you are in a clean configuration with the A/P engaged climbing at VREF 30+80kts is when you call for the "Engine Failure Checklist" since a failure without fire or damage doesn't have recall (memory) items.
Good luck
