Securitisation Regulation Clause Samples
The Securitisation Regulation clause sets out the requirements and obligations related to compliance with the European Union's Securitisation Regulation (Regulation (EU) 2017/2402). This clause typically outlines the responsibilities of parties involved in a securitisation transaction, such as ensuring that due diligence, risk retention, and transparency requirements are met. For example, it may require the originator, sponsor, or original lender to provide specific disclosures or retain a portion of the risk associated with the securitised assets. The core function of this clause is to ensure that all parties adhere to regulatory standards, thereby promoting transparency, reducing systemic risk, and protecting investors in securitisation transactions.
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Securitisation Regulation. The Retention Holder hereby represents, warrants and agrees for the benefit of the Administrative Agent and the Lenders on the date hereof until the Final Payout Date that:
(i) it, as originator for purposes of the Securitisation Regulation, shall retain, on an ongoing basis, a material net economic interest in the Pool Receivables in an amount not less than 5% of the nominal value of the Pool Receivables in the form of a first loss tranche determined in accordance with sub-paragraph (d) of Article 6(3) of the Securitisation Regulation, as supplemented by Article 8 of the CRR Part Five RTS, in each case as in effect and as applicable as of the date hereof, which material economic interest shall be based upon (1) PG&E’s ownership of all of the membership interest of the Borrower and ownership of all of the Subordinated Notes issued by the Borrower, and (2) the Borrower’s right to receive payments under Section 3.01(a)(v) (the “Retained Interest”). The Retained Interest shall be measured as of the Closing Date and the last date of each Settlement Period.
(ii) it shall not change the manner in which it retains or the method of calculating the Retained Interest, except to the extent permitted under the Securitisation Regulation Rules;
(iii) it and the Borrower shall not, and shall not permit any of its Affiliates to, hedge or otherwise mitigate its credit risk under, or associated with the Retained Interest or, sell, transfer or otherwise surrender all or part of the rights, benefits or obligations arising from, the Retained Interest, except to the extent permitted under the Securitisation Regulation Rules;
(iv) it shall provide ongoing confirmation as to the continued compliance with the foregoing clauses (i) through (iii) above (A) by providing such confirmation to the Servicer on a monthly basis for inclusion in each Monthly Report, (B) promptly following the occurrence of any Event of Default, Unmatured Event of Default, Termination Event or Unmatured Termination Event and (C) from time to time promptly upon written request by the Administrative Agent (on behalf of any Lender) in connection with any material change in the performance of the Receivables or the transaction contemplated by the Transaction Documents or any material breach of the Transaction Documents;
(v) it shall notify the Administrative Agent, each Lender and each Group Agent promptly and in any event within five (5) Business Days of: (A) any change in the identity of the Person or Persons,...
Securitisation Regulation. At any time while this Agreement is in force and at the request of the Administrative Agent, the Borrower hereby agrees to use commercially reasonable efforts to enter into any additional agreements or amendments that the Administrative Agent (in consultation with the Servicer) reasonably determines, based on advice of nationally recognized counsel, are necessary to permit the parties hereto to comply with any amendments to the Securitisation Regulation which come into effect after the Closing Date.
Securitisation Regulation. Upon request by a Purchaser or the Subordinated Lender, the Seller shall promptly provide each Purchaser or the Subordinated Lender, as applicabale, with such information relating to the Purchased Receivables and the transactions under the Transaction Documents as any Purchaser or the Subordinated Lender may from time to time reasonably request in order to enable such Purchaser (in its capacity as Purchaser or as a sponsor) or the Subordinated Lender, as applicable, to comply with any and all applicable requirements of Article 5 and/or Article 7 of the Securitisation Regulation and any other due diligence provision or transparency provision of the Securitisation Regulation Requirements. The Seller shall make available all the information that an originator is required to make available in accordance with article 7 of the Securitisation Regulation.
Securitisation Regulation. (Article 7 requirements)
(a) The Master Issuer acknowledges and agrees with the Seller, the Servicer, Funding 2 and the Mortgages Trustee that it has been designated as the entity responsible for compliance with the requirements of Article 7 of the Securitisation Regulation.
(b) Each of the Seller, Funding 2 and the Mortgages Trustee covenant to take all such steps (including the provision of any documentation, reports or information), in each case at the cost of the Seller, as are reasonably requested by Master Issuer to enable the Master Issuer to comply with the requirements of Article 7 of the Securitisation Regulation, including disclosure of information in relation to the Loans in the Mortgages Trust and the transaction in accordance with the requirements of Articles 7(1)(a) of the Securitisation Regulation (subject to Article 43
Securitisation Regulation. CNE hereby represents, warrants and agrees for the benefit of the Agent and the Purchasers until the Final Payout Date that: (i) CNE, as originator for purposes of the Securitisation Regulation, shall retain a material net economic interest in the Receivables in an amount not less than 5% of the nominal value of the Receivables in the form of a first loss tranche determined in accordance with sub-paragraph (d) of Article 6(3) of the Securitisation Regulation, which material economic interest shall be based upon (1) CNE’s ownership of all of the membership interest of the Seller and ownership of all of the Subordinated Notes issued by the Seller, and (2) the Seller’s right to receive the RPA Deferred Purchase Price under Article II.
Securitisation Regulation re-securitisation' means a re-securitisation as defined in point (4) of
Securitisation Regulation. At any time while this Agreement is in force and at the request of the Administrative Agent, the parties hereto hereby agree to enter into any additional agreements or amendments that the Administrative Agent reasonably determines are necessary to permit the parties hereto to comply with the Securitisation Regulation.
Securitisation Regulation. Article 6
Securitisation Regulation securitisation position' means securitisation position as defined in point (19) of Article 2 of Regulation (EU) ...
Securitisation Regulation. EU risk retention, EU transparency requirements, simple, transparent and standardised securitisations and due diligence requirements