Default & Enforcement

● GPUs secured by loan and given to the Underwriter in the initial ‘True Sale’ would be under control by the Underwriter. And any Creditors to GPU Provider 1 would be subordinate to Underwriter’s portion of GPUs. ● If the Underwriter is a 3rd party, the Participation Agreement would trigger an elevation, entitling SP to provisions and assets set under the Underlying Asset Agreement ● GAIB will assess several options including but not limited to, moving assets to another GPU Provider, or liquidation of assets. ● Due to perfected security interest in the SPC no single Investor can lay claim or control of SP1’s assets. ● The SPC setup also means SP2, SP3, SP… remain unaffected due to the distinction in asset and liabilities for each segregated portfolio (bankruptcy remote).