Berg Finance 2021 DAC: 27 May 2021

The principal source of payment of interest on the Notes, and of repayment of principal on the Notes, will be a 95% share of all amounts received by the Issuer in respect of the Loans and, if applicable, the unutilised commitments available under the Big Mountain Facility Agreement.

The collateral for the Big Mountain portfolio comprises of 25 majority office assets located throughout The Netherlands and France. (As of the First Big Mountain Loan Utilisation Date, the Big Mountain Properties included one additional property, the Breguetlaan Property, located in Oude Meer in the Netherlands).

The Big Mountain Portfolio has 127,245 square metres of gross lettable area with an overall occupancy rate of approximately 87.0%, and a net initial yield (based on Cushman & Wakefield and Savills valuations) of 7.0%. In terms of location, the Big Mountain Portfolio is spread throughout The Netherlands and France, with 100% of the Dutch assets located in the Randstad region and 100% of the French assets located in Sophia Antipolis region.

EU Risk Retention: Goldman Sachs Bank Europe SE, as originator of the Loans, will retain a material net economic interest in the securitisation of not less than 5% in accordance with the text of Article 6(1) of the EU Securitisation Regulation. As at the Closing Date, such retained material net economic interest will comprise not less than 5% of the nominal value of each of the tranches sold or transferred to investors in accordance with Article 6(3)(a) of the EU Securitisation Regulation.

UK Risk Retention: Goldman Sachs Bank Europe SE, as originator of the Loans, will retain a material net economic interest in the securitisation of not less than 5% in accordance with the text of Article 6(1) of Regulation (EU) 2017/2402 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018. As at the Closing Date, such retained material net economic interest will comprise not less than 5% of the nominal value of each of the tranches sold or transferred to investors in accordance with Article 6(3)(a) of the UK Securitisation Regulation.

Compare/contrast: Magenta 2020 plc, Pearl Finance 2020