securitisation definition

securitisation means a transaction or scheme, whereby the credit risk associated with an exposure or pool of exposures is tranched, having both of the following characteristics:

securitisation means any securitisation (Shari’ah compliant or otherwise) of existing or future assets and/or revenues, provided that (a) any Security Interest given by the Issuer in connection therewith is limited solely to the assets and/or revenues which are the subject of the securitisation; (b) each Person participating in such securitisation expressly agrees to limit its recourse to the assets and/or revenues so securitised as the principal source of repayment for the money advanced or payment of any other liability; and (c) there is no other recourse to the Issuer in respect of any default by any Person under the securitisation.

securitisation means a transaction or scheme, whereby the credit risk associated with an exposure or a pool of exposures is tranched, having all of the following characteristics: (a) payments in the transaction or scheme are dependent upon the performance of the exposure or of the pool of exposures; (b) the subordination of tranches determines the distribution of losses during the ongoing life of the transaction or scheme; (c) the transaction or scheme does not create exposures which possess all of the characteristics listed in Article 147(8) of Regulation (EU) No 575/2013;

Examples of securitisation in a sentence

• The Issuer is the trustee, and the SF Manager is the manager, of the Securitisation Fund.

• Prior to the Termination Date, neither the Note Holder nor the OF Manager may seek to terminate or wind up the Securitisation Fund as a consequence of any breach of this agreement or any Note by the Issuer or the SF Manager.

• Each of the parties hereto acknowledges that none of the Administrative Agent, the Lenders, the Custodian, the Securities Intermediary and the Collateral Agent shall be responsible for and shall have no obligation to assist any other party hereto in connection with compliance with any requirement of the Securitisation Regulation applicable to them.

• Regulation (EU) 2017/2402 as it forms part of UK domestic law by operation of the EUWA, and as amended by the Securitisation (Amendment) (EU Exit) Regulations 2019, and as further amended.

• This limitation of the Issuer's liability applies despite any other provision of this deed and extends to all liabilities and obligations of the Issuer in any way connected with any representation, warranty, conduct, omission, agreement or transaction related to this deed or the Securitisation Fund.

More Definitions of securitisation

securitisation means any securitisation of existing or future assets and/or revenues, provided that (i) any Security Interest given by the Issuer, the relevant Guarantor or the relevant Principal Subsidiary, as the case may be, in connection therewith is limited solely to the assets and/or revenues which are the subject of the securitisation; (ii) each person participating in such securitisation expressly agrees to limit its recourse to the assets and/or revenues so securitised as the principal source of repayment for the money advanced or payment of any other liability; and(iii) there is no other recourse to the Issuer, the relevant Guarantor or the relevant Principal Subsidiary, as the case may be, in respect of any default by any person under the securitisation;

securitisation means securitisation as defined in point (61) of Article 4(1) of Regulation (EU) No 575/2013;

securitisation means a securitisation within the meaning of Article 4(36) of Directive 2006/48/EC;

securitisation means any securitisation of existing or future assets and/or revenues, provided that:

securitisation means a securitisation as defined in point (1) of Article 2 of Regulation (EU) 2017/2402;

securitisation means securitisation as defined in Article 2(1) of [Securitisation Regulation];

securitisation means securitisation as defined in Article 4(1)(61) of Regulation 575/2013 10 ;