Company: ABR-PF
Filing Date: 2025-08-12
Form Type: 8-K
Source: 0001253986-25-000017
Chunk: 4

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-12
Form: 8-K
Item: Item 2.03
Chunk 4
---
 payments of principal and interest on the Class C Notes, Class D Notes, Class E Notes, Class F Notes, Class G Notes and Income Notes; payments of principal and interest (including any defaulted interest amount) on the Class C Notes will be senior to all payments of principal and interest on the Class D Notes, Class E Notes, Class F Notes, Class G Notes and Income Notes; payments of principal and interest (including any defaulted interest amount) on the Class D Notes will be senior to all payments of principal and interest on the Class E Notes, Class F Notes, Class G Notes and Income Notes; payments of principal and interest (including any defaulted interest amount) on the Class E Notes will be senior to all payments of principal and interest on the Class F Notes, Class G Notes and Income Notes; payments of principal and interest (including any defaulted interest amount or deferred interest amount) on the Class F Notes will be senior to all payments of principal and interest on the Class G Notes and Income Notes; and payments of principal and interest (including any defaulted interest amount or deferred interest amount) on the Class G Notes will be senior to all payments of principal and interest on the Income Notes.

The Notes are subject to a clean-up call redemption (at the option of and at the direction of the Collateral Manager), in whole but not in part, on any interest payment date on which the aggregate outstanding principal amount of the Offered Notes has been reduced to 10% or less of the aggregate outstanding principal amount of the Offered Notes on the issuance date.

Subject to certain conditions described in the Indenture, on the interest payment date in January 2028, and on any interest payment date thereafter, the Issuer may redeem the Notes at the direction of the holders of a majority of the Income Notes.

The Offered Notes are also subject to a mandatory redemption on any interest payment date on which certain note protection tests set forth in the Indenture are not satisfied or if ratings assigned to the Notes as of the Closing Date are not confirmed after the end of the up to180-day period for the purchase of additional assets. Any mandatory redemption of the Offered Notes is to be paid from interest and principal proceeds of the collateral interests in accordance with the priority of payments set forth in the Indenture, until the applicable note protection tests are satisfied or the applicable ratings are reinstated or, if sooner, until such Offered Notes have been paid in full.

If certain events occur that would make the Issuer subject to paying U. S.