Company: AX
Filing Date: 2025-09-17
Form Type: 424B5
Source: 0001299709-25-000159
Chunk: 36

Company: Axos Financial, Inc.
Filing Date: 2025-09-17
Form: 424B5
Chunk 36
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 in the event any judicial proceeding shall be pending with respect to any such default; or

• in the event that any subordinated notes have been declared due and payable before their stated maturity.

If the trustee or any holders of subordinated notes receives any payment or distribution that is prohibited under the subordination provisions, and if this fact is made known to the trustee or holders at or prior to the time of such payment or distribution, then the trustee or the holders will have to pay over that money to us.

Further, in the event of any insolvency or bankruptcy proceedings, or any receivership, liquidation, reorganization, assignment for the benefit of creditors or other similar proceedings or events involving us or our assets, any creditors in respect of general obligations will be entitled to receive payment in full of all amounts due or to become due on or in respect of such general obligations, before any amount is made available for payment or distribution to the holders of the Notes.

Even if the subordination provisions prevent us from making any payment when due on the Notes, we will be in default on our obligations under the Notes if we do not make the payment when due. This means that the trustee and the holders of subordinated notes can take action against us, but they will not receive any money until the claims of the holders of Senior Indebtedness have been fully satisfied.

The Subordinated Indenture allows the holders of Senior Indebtedness to obtain a court order requiring us and any holder of subordinated notes to comply with the subordination provisions.

The Subordinated Indenture defines “Senior Indebtedness” as, without limitation:

• all obligations in respect of our indebtedness for purchased or borrowed money, whether or not evidenced by securities, notes, debentures, bonds, debt securities or other similar instruments issued by us, including obligations incurred in connection with the acquisition of property, assets or businesses;

• our capital lease obligations;

• our obligations issued or assumed as the deferred purchase price of property or services, our conditional sale obligations and our obligations under any conditional sale or title retention agreement, but excluding trade accounts payable in the ordinary course of business;

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• our obligations arising from off-balance sheet guarantees and direct credit substitutes, including obligations in respect of any letters of credit, bankers’ acceptance, security purchase facilities and similar credit transactions (or reimbursement obligations with respect thereto);

• our obligations associated with derivative products, including obligations in respect of interest rate swap, cap, floor,