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Contract analysis

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Contract analysis / preliminary-offering-memorandum.docx
preliminary-offering-memorandum.docx
1024-00004 · 17 clauses
High · 0 Medium · 1 Standard · 5
1. Trustee Fees and Expenses. Payment of the Trustee's annual fee ($25,000 per annum, pay Standard
⚑ Commercial term
1. Trustee Fees and Expenses. Payment of the Trustee's annual fee ($25,000 per annum, payable quarterly) and reimbursement of the Trustee's reasonable expenses (subject to a cap of $50,000 per Payment Date).
2. Collateral Administrator Expenses. Payment of the reasonable fees and expenses of the Standard
⚑ Commercial term
2. Collateral Administrator Expenses. Payment of the reasonable fees and expenses of the collateral administrator in connection with the performance of its duties under the Collateral Administration Agreement.
3. Senior Collateral Management Fee. Payment of the senior collateral management fee to D Standard
⚑ Commercial term
3. Senior Collateral Management Fee. Payment of the senior collateral management fee to DCM (0.15% per annum of the aggregate collateral principal balance).
4. Class A-1 Interest. Payment of interest due and payable on the Class A-1 Notes for the
4. Class A-1 Interest. Payment of interest due and payable on the Class A-1 Notes for the applicable interest accrual period.
5. Class A-2 Interest. Payment of interest due and payable on the Class A-2 Notes for the
5. Class A-2 Interest. Payment of interest due and payable on the Class A-2 Notes for the applicable interest accrual period.
6. Class B Interest. Payment of interest due and payable on the Class B Notes for the app
6. Class B Interest. Payment of interest due and payable on the Class B Notes for the applicable interest accrual period (including any deferred interest thereon).
7. Class C Interest. Payment of interest due and payable on the Class C Notes for the app
7. Class C Interest. Payment of interest due and payable on the Class C Notes for the applicable interest accrual period (including any deferred interest thereon).
8. Class D Interest. Payment of interest due and payable on the Class D Notes for the app
8. Class D Interest. Payment of interest due and payable on the Class D Notes for the applicable interest accrual period (including any deferred interest thereon).
9. Subordinate Collateral Management Fee. Payment of the subordinate collateral managemen Standard
⚑ Commercial term
9. Subordinate Collateral Management Fee. Payment of the subordinate collateral management fee to DCM (0.35% per annum of the aggregate collateral principal balance).
10. Incentive Management Fee. Payment of the incentive management fee to DCM (20% of exce Standard
⚑ Commercial term
10. Incentive Management Fee. Payment of the incentive management fee to DCM (20% of excess residual interest proceeds after a 12% IRR hurdle to the Subordinated Noteholders has been achieved).
11. Subordinated Note Distributions. Distribution of any remaining interest proceeds to t
11. Subordinated Note Distributions. Distribution of any remaining interest proceeds to the holders of the Subordinated Notes, pro rata, in accordance with their respective liquidation preferences. Principal Waterfall. On each Payment Date after the expiration of the Reinvestment Period (or, during the Reinvestment Period, to the extent that principal proceeds are not reinvested), principal proceeds will be applied i
1. Class A-1 Notes — until the outstanding principal balance of the Class A-1 Notes is re
1. Class A-1 Notes — until the outstanding principal balance of the Class A-1 Notes is reduced to zero.
2. Class A-2 Notes — until the outstanding principal balance of the Class A-2 Notes is re
2. Class A-2 Notes — until the outstanding principal balance of the Class A-2 Notes is reduced to zero.
3. Class B Notes — until the outstanding principal balance of the Class B Notes is reduce
3. Class B Notes — until the outstanding principal balance of the Class B Notes is reduced to zero.
4. Class C Notes — until the outstanding principal balance of the Class C Notes is reduce
4. Class C Notes — until the outstanding principal balance of the Class C Notes is reduced to zero.
5. Class D Notes — until the outstanding principal balance of the Class D Notes is reduce
5. Class D Notes — until the outstanding principal balance of the Class D Notes is reduced to zero.
6. Subordinated Notes — any remaining principal proceeds distributed to the holders of th Medium
⚑ Notice / time limit to track
6. Subordinated Notes — any remaining principal proceeds distributed to the holders of the Subordinated Notes. Overcollateralization Tests. The Indenture requires that, on each Determination Date (and at certain other times specified therein), the following Overcollateralization ("O/C") Tests be satisfied: Each O/C Test is calculated as the ratio of the aggregate collateral principal balance (adjusted for certain hai