Oct 042021
 

The company is managed and advised externally by the manager. During the year ending December 31, 2017, at the end of the Company`s IPO on July 25, 2017, the Management Agreement was terminated prior to the IPO (as defined below) without paying a termination fee to the Manager and the Company entered into a new Management Agreement with the Officer (the “Management Agreement”). On May 2, 2018, the Company and the Management Board amended the Management Agreement for the sole purpose of amending the definitions of “equity”, “core results” and “incentive compensation” in the Management Agreement. The amendments were made to include own funds issued by the company`s subsidiaries in the definition of own funds and to exclude transfers from own funds issued by subsidiaries from the calculation of the executive incentive remuneration. For the three and nine months of the 30th on September 27, 2018, the management fee and the incentive management fee have been calculated as part of the management agreement. We use guaranteed revolving pension transactions to fund some of our initiations or acquisitions of our target assets that may be accepted as collateral by a corresponding revolving pension lender. Once we have identified an asset and the asset has been approved as collateral by the secured revolving repo lender (the lender`s consent is at its sole discretion), we and the lender may enter into a transaction in which the lender advances us a percentage of the value of the asset called an “advance”. “as the purchase price for such a transaction, with our obligation to repurchase the asset from the lender for an amount equal to the purchase price of the transaction, plus a price difference calculated on the basis of an interest rate. For each transaction, we and the lender agree on a trading confirmation that sets, among other things, the purchase price, the maximum amount of the advance, the interest rate, the market value of the loan asset and any envisaged future financing commitments in relation to the specific transaction and/or the underlying credit value. For credit assets that include future financing commitments from us, the repurchase transaction may provide that the repurchase lender finances shares (for example. B in proportion to the maximum advance of the associated buy-back operation) of such future financing obligations.

In general, our secured revolving pensions allow renewable assets that allow us to voluntarily repay the assets and recover existing available credits. The principal of any guaranteed revolving retirement facility is a subsidiary separate from us, which is prevented from carrying out activities other than activities related to the use of its secured revolving redemption facility. . . .

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