Legal structuring

The following legal structure is for reference purposes only. As a protocol participant, you are responsible for complying with relevant laws and regulations in your jurisdiction. Your are encouraged to consult you own tax and legal counsels.
A legal structure set up by Untangled Finance Limted
  1. 1.
    Issuer SPV issues tokens to Investors under US Reg D 506c. Both Issuer SPV and Asset SPVs are Series of Up Series LLC (Delaware)
  2. 2.
    Originator sells participation interests to UP Series 2 (Asset SPV)
  3. 3.
    Originator (or other investors) subscribe to junior tranche/retain junior interest in the assets
  4. 4.
    Asset SPV borrows from Issuer SPV using eligible assets as collateral.
  5. 5.
    Originator repay participation interests + interest directly to SPV’s locked box (bank account or wallet)
  6. 6.
    Asset SPV repay principal + interests to Issuer SPV
  7. 7.
    Issuer SPV makes redemption to Investors
  8. 8.
    Asset SPV redeems junior tranche to Originator