Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 210

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 210
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 real property and loan assets, (4) sale of assets, or (5) accessing the equity or debt capital markets, if available. We have the right to cure covenant breaches which would resume normal residual payments to us by purchasing non-performing loans out of the CLOs. However, we may not have sufficient liquidity available to do so at such time.

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Table of ContentsARBOR REALTY TRUST, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Our CLO compliance tests as of the most recent determination dates in October 2025 are as follows:Cash Flow TriggersCLO 16 CLO 17 CLO 18 BTR CLO 1CLO 20Overcollateralization (1)Current144.48 %127.02 %131.38 %117.47 %112.52 %Limit120.21 %121.51 %123.03 %115.47 %110.52 %Pass / FailPassPassPass PassPassInterest Coverage (2)Current177.92 %137.35 %122.55 %151.95 %131.19 %Limit120.00 %120.00 %120.00 %120.00 %120.00 %Pass / FailPass PassPass PassPass________________________(1)The overcollateralization ratio divides the total principal balance of all collateral in the CLO by the total principal balance of the bonds associated with the applicable ratio. To the extent an asset is considered a defaulted security, the asset’s principal balance for purposes of the overcollateralization test is the lesser of the asset’s market value or the principal balance of the defaulted asset multiplied by the asset’s recovery rate which is determined by the rating agencies. Rating downgrades of CLO collateral will generally not have a direct impact on the principal balance of a CLO asset for purposes of calculating the CLO overcollateralization test unless the rating downgrade is below a significantly low threshold (e.g., CCC-) as defined in each CLO vehicle.(2)The interest coverage ratio divides interest income by interest expense for the classes senior to those retained by us.Our CLO overcollateralization ratios as of the determination dates subsequent to each quarter are as follows:Determination (1)CLO 16 CLO 17 CLO 18 BTR CLO 1CLO 20October