Company: CPSS
Filing Date: 2025-05-13
Form Type: 8-K
Source: 0001683168-25-003479
Chunk: 2

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-05-13
Form: 8-K
Item: Item 1.01
Chunk 2
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 the cash proceeds of the Receivables
that otherwise would be released to Subsidiary would instead be directed entirely toward repayment of the Notes. Events of default include
such events as failure to make required payments on the Notes, breaches of warranties, representations or covenants under any of the agreements
or specified bankruptcy-related events.

At such time as the aggregate outstanding
principal balance of the Receivables is less than 10% of the initial aggregate balance of $439.29million, CPS will have the option to
purchase the Trust estate at fair market value, provided that such purchase price is sufficient to cause the Notes to be redeemed and
paid in full, and to cause other obligations of the Trust to be met.

Item 9.01. Financial Statements and Exhibits.