ACRES Commercial Realty amends repo agreement with JPMorgan, adjusts liquidity covenant, adds LIBOR fallback

ACRES Commercial Realty Corp.

Minimum liquidity covenant revised to 5% of aggregate outstanding repurchase price (amendment to Guarantee §9(a)(i)(B)).
Added detailed LIBOR replacement terms: alternate rates based on SOFR (Term SOFR, Compounded SOFR) and benchmark transition process.
LIBOR transition anticipated on July 1, 2023; includes alternate rate spread adjustments and conforming changes.
Amendment effective September 1, 2021, between subsidiary RCC Real Estate SPE 8, LLC and JPMorgan Chase Bank.
No new borrowing or change in financial performance; routine modification of existing credit facility terms.

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