Company: RWT-PA
Filing Date: 2025-03-03
Form Type: S-3ASR
Source: 0001104659-25-019828
Chunk: 16

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: S-3ASR
Chunk 16
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 securities other than that series), which default continues uncured for     
 a period of 90 days after we receive written notice from the trustee or Redwood and the trustee 
 receive written notice from the holders of at least 25% in principal amount of the outstanding  
 debt securities of that series as provided in the indenture;                                    |

| · | certain                                                                                 
 voluntary or involuntary events of bankruptcy, insolvency or reorganization of Redwood; |

| · | any                                                                                              
 other Event of Default provided with respect to debt securities of that series that is described 
 in the applicable prospectus supplement.                                                         |

No Event of Default with
respect to a particular series of debt securities (except as to certain events of bankruptcy, insolvency or reorganization) necessarily
constitutes an Event of Default with respect to any other series of debt securities. The occurrence of certain Events of Default or an
acceleration under the indenture may constitute an event of default under certain indebtedness of ours or our subsidiaries outstanding
from time to time.

We will provide the trustee
written notice of any Default or Event of Default within 30 days of becoming aware of the occurrence of such Default or Event of Default,
which notice will describe in reasonable detail the status of such Default or Event of Default and what action we are taking or propose
to take in respect thereof.

If an Event of Default with
respect to debt securities of any series at the time outstanding occurs and is continuing, then the trustee or the holders of at least
25% in principal amount of the outstanding debt securities of that series may, by a notice in writing to us (and to the trustee if given
by the holders), declare to be due and payable immediately the principal of (or, if the debt securities of that series are discount securities,
that portion of the principal amount as may be specified in the terms of that series) and accrued and unpaid interest, if any, on all
debt securities of that series. In the case of an Event of Default resulting from certain events of bankruptcy, insolvency or reorganization,
the principal (or such specified amount) of and accrued and unpaid interest, if any, on all outstanding debt securities will become and
be immediately due and payable without any declaration or other act on the part of the trustee or any holder of outstanding debt securities.
At any time after a declaration of acceleration with respect to debt securities of any series has been made, but before a judgment or
decree for payment of the money due has been obtained by the trustee