Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 54

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 54
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 LIBOR Act (as defined below) to the Series E Preferred Stock, the calculation agent for the Series E Preferred Stock determined that Three-Month CME Term SOFR plus the applicable tenor spread adjustment of 0.26161% per annum has replaced three-month LIBOR as the successor base rate for calculations of the dividend rate payable on the Series E Preferred Stock during the Floating Rate Period.

“Calculation Agent” means a third party independent financial institution of national standing with experience providing such services, which has been selected by us.

“Dividend Determination Date” means the second London Business Day (as defined below) immediately preceding the first date of the applicable Dividend Period.

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“Dividend Period” means the period from, and including, a dividend payment date to, but excluding, the next succeeding dividend payment date, except for the initial Dividend Period, which will be the period from, and including, the original issue date of the Series E Preferred Stock to, but excluding, January 15, 2020.

“LIBOR Act” means the Adjustable Interest Rate (LIBOR) Act of 2021, which establishes benchmark replacements for contracts governed by U.S. law that reference certain tenors of U.S. dollar LIBOR (the overnight and one-, three-, six-, and 12-month tenors) and that do not have terms that provide for the use of a clearly defined and practicable replacement benchmark rate following the first London banking day after June 30, 2023.

“London Business Day” means any day on which dealings in deposits in U.S. dollars are transacted in the London interbank market.

“SOFR” means the secured overnight financing rate published by the Federal Reserve Bank of New York (“FRBNY”), as the administrator of the Benchmark (or a successor administrator), on FRBNY’s Website.

“Three-Month CME Term SOFR” means the CME Term SOFR Reference Rates published for three-month tenors as administered by CME Group Benchmark Administration, Ltd. (or any successor administrator thereof).

No dividends on shares of Series E Preferred Stock may be authorized by our board of directors or paid or set apart for payment by us at any time when the terms and provisions of any agreement of ours, including any agreement relating to our indebtedness, prohibit the authorization, payment or setting apart for payment thereof or provide that the authorization, payment or setting apart for payment thereof would constitute a breach