Company: CPSS
Filing Date: 2025-03-26
Form Type: 424B2
Source: 0001683168-25-001896
Chunk: 51

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-26
Form: 424B2
Chunk 51
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 all or substantially all of the proceeds of such sale, lease, conveyance or other disposition and of our remaining assets to the holders of our capital stock, unless, prior to making any liquidating distribution pursuant to such plan, we make provision for the satisfaction of our obligations under the renewable unsecured subordinated notes. |

| 34 |

We are not restricted from
entering into qualified sale and financing transactions or incurring additional indebtedness. See “Risk Factors – Risk Factors Relating to the Notes – Because there are limited restrictions on our activities under the Indenture, you will have only limited protection under the indenture.”

Consolidation, Merger or Sale.The indenture generally permits a consolidation or merger between us and another entity. It also permits the sale or transfer
by us of all or substantially all of our property and assets. These transactions are permitted if:

| · | the resulting or acquiring entity, if other than us, is a United States corporation, limited liability company or limited partnership and assumes all of our responsibilities and liabilities under the indenture, including the payment of all amounts due on the notes and performance of the covenants in the indenture; and |
| · | immediately after the transaction, and giving effect to the transaction, no event of default under the indenture exists.                                                                                                                                                                                                        |

If we consolidate or merge
with or into any other entity or sell or lease all or substantially all of our assets, according to the terms and conditions of the indenture,
the resulting or acquiring entity will be substituted for us in the indenture with the same effect as if it had been an original party
to the indenture. As a result, the successor entity may exercise our rights and powers under the indenture, in our name and we will be
released from all our liabilities and obligations under the indenture and under the notes.

Events Of Default.The
indenture provides that each of the following constitutes an event of default:

| · | failure to pay interest on a note within 15 days after the due date for such payment (whether or not prohibited by the subordination provisions of the indenture);                                                                                                                               |
| · | failure to pay principal on a note within 15 days after the due date for such payment (whether or not prohibited by the subordination provisions of the indenture);                                                                                                                              |
| · | our failure to observe or perform any material covenant, condition or agreement or our breach of any material representation or warranty, but only after we have been given notice of such failure or