Company: CPSS
Filing Date: 2025-03-26
Form Type: 424B2
Source: 0001683168-25-001896
Chunk: 54

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-26
Form: 424B2
Chunk 54
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 on holders of notes;                                                                                                                                                                                                |
| · | modifies or eliminates the right of the estate of a holder or a holder to cause us to repurchase a note upon the death or total permanent disability of a holder; or                                                                                                                                                     |
| · | makes any change in the foregoing amendment and waiver provisions.                                                                                                                                                                                                                                                       |

Notwithstanding the foregoing,
without the consent of any holder of the notes, we and the trustee may amend or supplement the indenture or the notes:

| · | to cure any ambiguity, defect or inconsistency;                                                                                                                                                                                                                                                                                   |
| · | to provide for assumption of our obligations to holders of the notes in the case of a merger, consolidation or sale of all or substantially all of our assets;                                                                                                                                                                    |
| · | to provide for additional uncertificated or certificated notes;                                                                                                                                                                                                                                                                   |
| · | to make any change that does not adversely affect the legal rights under the indenture of any such holder, including but not limited to an increase in the aggregate dollar amount of notes which may be outstanding under the indenture;                                                                                         |
| · | to modify our policy regarding repurchases elected by a holder of notes prior to maturity and our policy regarding repurchase of the notes prior to maturity upon the death or total permanent disability of any holder of the notes, but such modifications shall not materially adversely affect any then outstanding notes; or |
| · | to comply with requirements of the SEC in order to effect or maintain the qualification of the indenture under the Trust Indenture Act.                                                                                                                                                                                           |

| 36 |

The Trustee.Computershare
Trust Company, National Association has agreed to be the successor trustee to Wells Fargo Bank, National Association, under the indenture.
The indenture contains certain limitations on the rights of the trustee, should it become one of our creditors, to obtain payment of claims
in certain cases, or to realize on certain property received in respect of any claim as security or otherwise. The trustee will be permitted
to engage in other transactions with us.

Subject to certain exceptions,
the holders of a majority in principal amount of the then outstanding notes will have the right to direct the time, method and place of
conducting any proceeding for exercising any remedy available to the trustee. The indenture provides that in case an event of default
specified in the indenture shall occur and not be cured, the trustee will be required, in the exercise of its power, to use the degree
of care of a reasonable person in the conduct of his own affairs.