U.S. Credit Risk Retention. World Omni shall comply in all material respects with all requirements imposed on the “sponsor” of the “securitization transaction” (as each such term is defined in the Credit Risk Retention Rules) described in the Basic Documents in accordance with the Credit Risk Retention Rules, including its requirements to (i) retain, either directly or through a “majority-owned affiliate” (as such term is defined in the Credit Risk Retention Rules) of World Omni, the “eligible horizontal residual interest” (as such term is defined in the Credit Risk Retention Rules) in such securitization transaction in accordance with the Credit Risk Retention Rules and shall not, and shall cause its affiliates to not, sell, transfer, finance, pledge or hedge such interest except as permitted under the Credit Risk Retention Rules, and (ii) satisfy the disclosure requirements set forth in the Credit Risk Retention Rules without any involvement from the underwriters.
U.S. Credit Risk Retention. The Securities may not be purchased by any person except for persons that are not "U.S. persons" as defined in the U.S. Risk Retention Rules (17 C.F.R Part 246.20(a)), or "Risk Retention U.S. Persons". "
U.S. Credit Risk Retention. (a) Ditech hereby represents, warrants and covenants to Barclays and each of the Noteholders of the Series 2019-VF1 Notes, that, as of the date hereof and as of each Seller’s Interest Measurement Date, for so long as the Series 2019-VF1 Notes are outstanding Ditech will comply (either directly, or indirectly through a “wholly owned affiliate” (as defined in Regulation RR)), and is the appropriate entity to comply, with all legal requirements imposed on the “sponsor” of a “securitization transaction” in accordance with Regulation RR.
U.S. Credit Risk Retention. Citibank will continue to comply with all requirements imposed on it as a “sponsor of a securitization transaction” by the U.S. Credit Risk Retention Rules for so long as those requirements are applicable, including by holding the Retained Interest for the duration required by the U.S. Credit Risk Retention Rules, without any impermissible hedging, transfer or financing of the Retained Interest.
U.S. Credit Risk Retention. The Seller is the appropriate entity to comply with all requirements imposed on the "sponsor of a securitization transaction" in accordance with the final rules contained in Regulation RR, 17 C.F.R. §246.1, et seq. (the "Credit Risk Retention Rules") implementing the credit risk retention requirements of Section 15G of the Exchange Act, in each case directly or (to the extent permitted by the Credit Risk Retention Rules) through one or more wholly-owned affiliates (as defined in the Credit Risk Retention Rules, each a "Wholly-Owned Affiliate"). The Seller or one or more of its Wholly-Owned Affiliates satisfies the Credit Risk Retention Rules by retaining the Retained Interest (as defined in the Pooling and Servicing Agreement), which is a "seller's interest" (as contemplated by the Credit Risk Retention Rules), in the Receivables in an amount not less than five percent (5%) of the aggregate unpaid principal balance of all outstanding investor "ABS interests" (as defined in the Credit Risk Retention Rules) in the Trust, determined in accordance with the requirements of the Credit Risk Retention Rules, without any impermissible transfer, hedging or financing of such retained interest.
U.S. Credit Risk Retention. World Omni shall comply in all material respects with all requirements imposed on the "sponsor" of the "securitization transaction" (as each such term is defined in the Credit Risk Retention Rules) described in the Basic Documents in accordance with the Credit Risk Retention Rules, including its requirements to (i) retain, either directly or through a “majority-owned affiliate” (as such term is defined in the Credit Risk Retention Rules) of World Omni, the "eligible horizontal residual interest" (as such term is defined in the Credit Risk Retention Rules) in such securitization transaction in accordance with the Credit Risk Retention Rules and shall not, and shall cause its affiliates to not, sell, transfer, finance, pledge or hedge such interest except as permitted under the Credit Risk Retention Rules[, (ii) cause to be established and funded, in cash, the Reserve Account, as an “eligible horizontal cash reserve account” (as such term is defined in the Credit Risk Retention Rules)] and (iii) satisfy the disclosure requirements set forth in the Credit Risk Retention Rules without any involvement from the underwriters.
