12/11/2022 0 Comments Citibank foreclosed properties 2021![]() #CITIBANK FORECLOSED PROPERTIES 2021 FULL#The Issuer may prepay a Class of Notes in full on or after the payment date beginning in July 2026 for the Class A-1 (AAA) Notes, the Class A-3 (AA) Notes and the Class A-5 (A) Notes, and on or after the payment date in July 2028 for the Class A-2 (AAA) Notes, the Class A-4 (AA) Notes and the Class A-6 (A) Notes. A make whole payment will be owed if greater than 15% of aggregate collateral value is released alongside a repayment of the outstanding principal balance, which will be increased to 35% of the initial principal balance if the prepayment is funded with proceeds from qualifying deleveraging events, such as a firm commitment underwritten registered public equity offering by the Company that generates at least $75,000,000 in net proceeds. Proceeds from the sale of released properties may be used to acquire properties subject to various terms and conditions or be used to reduce the outstanding principal balance of the Class A Notes. ![]() The Issuer may release or exchange properties from the collateral pool securing the Class A Notes subject to various terms and conditions, including limiting the total value of properties released or exchanged to not more than 35% of the aggregate collateral value. ![]()
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