AMR Initiation: 4 Days
Majority Equity
Election Notice
Manager/Majority Equity Equity sends notice to the
Trustee, including: AMR-eligible classes, AMR Pricing
Date, AMR Settlement Date, non-AMR period.
Information Notice
Trustee notifies KopenTech, Note Holders, Manager and Issuer (CC) with the following:
- AMR Pricing Date
- AMR Settlement Date
- Outstanding Amount
- Retained Amount
- Current Margin
- Cap Margin
- Redemption Price
- Participating B/Ds
- AMR Indenture Language
Trustee may cancel AMR if some conditions are not met.
Notification of
Broker-Dealers
KopenTech distributes
Information Notice
to Broker-Dealers via its platform.
Auction Day: 1 Day
Submission Deadline
Broker-Dealers submit orders to KopenTech.
Results Dissemination — Broker-Dealers
KopenTech displays auction results to the participants.
Allocation Error Correction Notification
KopenTech should be notified of any allocation errors.
Allocation Error Correction
KopenTech recalculates and disseminates auction results.
Results Dissemination — Public
KopenTech AMR displays results publicly on its website.
Settlement: 5 Days
Day Before Settlement
Funding Deadline
The Broker-Dealers with accepted
bids deposit
the Redemption Price of the
Notes
in the AMR
Settlement Account.
AMR Settlement Day
Delayed Funding
Deadline or Failed
Reset
A Broker-Dealer that failed to
deposit the required funds,
will be notified by the Trustee to fix
this issue.
If any Broker-Dealer fails to post
cash on
AMR Settlement Accounts, the
AMR fails.
Settlement Deadline
The Trustee will direct DTC to
transfer funds to original
Note
holders via the
relevant
AMR Settlement Account.
Notes Delivery
The Trustee directs DTC to
deposit the tendered Notes
into the relevant
AMR
Settlement Account and free
deliver Notes (or via DWAC)
to the
Broker-Dealers
(or
an
affiliate) purchasing the Notes.