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ARTS Consumer S.r.l. (2023): 14 October 2023

The principal source of payment of interest and Variable Return and repayment of principal on the Notes will be constituted by collections and recoveries made in respect of monetary claims and connected rights arising out of consumer loan agreements entered into by UniCredit SpA, as Originator, and certain Debtors.

During the Revolving Period, if the Originator offers for sale Subsequent Portfolios and if certain conditions are met, the Issuer shall use the Principal Available Funds to purchase Subsequent Portfolios from the Originator. In addition, the Issuer has purchased and may purchase from the Originator certain Future Receivables deriving from the same Loan Agreements out of which the Receivables arise; upon coming into existence, such Future Receivables will, by operation of Italian law, be automatically transferred to the Issuer, subject to the provisions set out in the Master Receivables Purchase Agreement.

Eligibility criteria (includes): Loans granted to one or more individuals, at least one of which results to be, according to the last relevant communication received by UniCredit SpA, resident in the Republic of Italy; Loans which have been fully drawn down; Loans arising from Loan Agreements governed by the laws of the Republic of Italy; denominated in Euro; at least one Instalment has become due and has been paid by the relevant Debtor; which provide for the application of a fixed rate for the whole duration of the Loan; Loans which, even if classified as performing, have not been subject to restructuring or settlements after the date of their conclusion.

EU Risk Retention: The Originator has undertaken that, for so long as the Notes are outstanding, it will retain, on an on-going basis, a material net economic interest of not less than 5% in the securitisation in accordance with option (c) of Article 6(3) of the Regulation (EU) number 2402 of 12 December 2017.

US Risk Retention: The Originator intends to rely on an exemption provided for in Section __.20 of the US Risk Retention Rules regarding non-US transactions that meet certain requirements.

STS: The securitisation is intended to qualify as a simple, transparent and standardised (STS) securitisation within the meaning of Article 18 of the EU Securitisation Regulation.

Compare/contrast: ARTS Consumer Srl (2022), Golden Bar Srl 2023-2, Quarzo Srl (2023)