EU Retention Deficiency definition

EU Retention Deficiency. An event which shall occur if the Preferred Shares held by the Retention Holder are insufficient to constitute the EU Retained Interest.
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EU Retention Deficiency. The failure of the E.U. Retention Provider to hold the E.U. Retained Interest at such time.
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EU Retention Deficiency means, as of any date of determination, an event which occurs if the purchase price paid by the Retention Holder for the outstanding principal amount of the Subordinated Notes then held by the Retention Holder is less than 5% of the Retention Basis Amount and the EU Retention Requirements are not or would not be complied with as a result.
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Examples of EU Retention Deficiency in a sentence

  • For purposes of calculating the EU Retained Amount and determining whether aan EU Retention Deficiency has occurred, the Principal Balance of any Asset shall be its Principal Balance in each case without any adjustments for acquisition price or the application of haircuts or other adjustments.

  • From time to time, the Issuer may, subject to certain conditions, direct that the EU Retention Deficiency Reserve Amount in the EU Retention Deficiency Account be deposited into the Interest Account as Interest Proceeds.

  • The Trustee shall have no obligation to monitor or verify whether an EU Retention Deficiency or EU Retention Event has occurred or whether any of the EU Retention Requirements have been satisfied.

  • Further, this requirement does not apply to any additional issuance of Subordinated Notes if such issuance is required in order to prevent or cure an EU Retention Deficiency or to ensure compliance with the U.S. Risk Retention Rules.

  • In particular, if, at any time, the deposit of Trading Gains into the Principal Account would, in the sole discretion of the Collateral Manager cause (or would be likely to cause) an EU Retention Deficiency, such Trading Gains which would have been deposited into the Principal Account and designated for reinvestment or used to redeem the Notes in accordance with the Principal Proceeds Priority of Payments will instead be deposited into the Interest Account.

  • Pursuant to the Conditions, all or part of any Trading Gains which would have been deposited into the Principal Account and designated for reinvestment or used to redeem the Refinancing Notes shall (if the deposit of such amounts into the Principal Account would, in the sole discretion of BlueMountain A, cause an EU Retention Deficiency) instead be deposited into the Interest Account.

  • As a result, the Collateral Manager may be prevented from reinvesting available proceeds in Collateral Debt Obligations in circumstances where such reinvestment would cause (or would be likely to cause) an EU Retention Deficiency and therefore the Aggregate Principal Balance of Collateral Debt Obligations securing the Notes may be less than what would have otherwise have been the case if such amounts had been reinvested in Collateral Debt Obligations.

  • Where there has been an EU Retention Deficiency Cure Issuance, the net proceeds thereof that are not reinvested or retained for reinvestment (as designated by the Collateral Manager) shall be designated as Interest Proceeds.

  • Pursuant to the Conditions, all or part of any Trading Gains which would have been deposited into the Principal Account and designated for reinvestment or used to redeem the Notes shall (if the deposit of such amounts into the Principal Account would, in the sole discretion of the Investment Manager, cause an EU Retention Deficiency) instead be deposited into the Interest Account.

  • In addition, the Collateral Manager is not permitted to reinvest in Substitute Collateral Debt Obligations where such reinvestment would cause an EU Retention Deficiency.


More Definitions of EU Retention Deficiency

EU Retention Deficiency. An event which shall occur if the Subordinated Notes held by the EU Retention Provider are insufficient to constitute the EU Retained Amount.
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EU Retention Deficiency means, as of any date of determination, an event which shall occur if the principal amount of the equity interests in the Borrower held by the Retention Holder as of such time is less than 5% of the nominal value of all Collateral (other than cash that does not constitute Principal Collections) as of such date.
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Related to EU Retention Deficiency

  • Subordination Deficiency With respect to any Distribution Date, the excess, if any, of (a) the Specified Subordinated Amount applicable to such Distribution Date over (b) the Subordinated Amount applicable to such Distribution Date.

  • Overcollateralization Deficiency For any Distribution Date will be equal to the amount, if any, by which (x) the Targeted Overcollateralization Amount for such Distribution Date exceeds (y) the Overcollateralization Amount for such Distribution Date, calculated for this purpose after giving effect to the reduction on such Distribution Date of the aggregate Class Principal Balance of the Certificates resulting from the payment of the Principal Payment Amount on such Distribution Date, but prior to allocation of any Applied Loss Amount on such Distribution Date.

  • Erroneous Payment Return Deficiency has the meaning assigned thereto in Section 10.12(d).

  • Mental deficiency means mental deficiency as defined by appropriate clinical authorities to such extent that a person so afflicted is incapable of managing himself and his affairs, but shall not include mental illness as defined herein.

  • Construction defect means a deficiency in or a deficiency arising out of the design, specifications, surveying, planning, supervision, or observation of construction or construction of residential improvements that results from any of the following:

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Advance Deficiency As defined in Section 4.01(b).

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Class C Deficiency Amount is defined in Section 4.1(c).

  • Class D Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class D Interest Coverage Ratio is at least equal to 105.0 per cent.

  • Deficiency Claim Date means, with respect to any Distribution Date, the fourth Business Day immediately preceding such Distribution Date.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Net Proceeds Deficiency shall have the meaning set forth in Section 6.4(b)(vi) hereof.

  • Performing Note Deficiency means any time that less than 65% of the then aggregate outstanding principal amount of all Equipment Notes are Performing Equipment Notes.

  • Two-year claim limitation means no benefit is payable for any claim submitted two years or more from the date of admission or service provision.

  • Class C Required Amount means with respect to any Payment Date, an amount equal to the excess of the amount described in Section 4.4(a)(v) over Available Finance Charge Collections applied to pay such amount pursuant to Section 4.4(a).

  • Erroneous Payment Deficiency Assignment has the meaning assigned to it in Section 10.10(d).

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).

  • Class C Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class C Interest Coverage Ratio is at least equal to 110.0 per cent.

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2006-1 Liquidity Amount on such date and (b) the Series 2006-1 Required Liquidity Amount on such date.

  • Qualification Defect With respect to a Mortgage Loan, (a) a defective document in the Mortgage File, (b) the absence of a document in the Mortgage File, or (c) the breach of any representation, warranty or covenant with respect to the Mortgage Loan made by the Company, but, in each case, only if the affected Mortgage Loan would cease to qualify as a “qualified mortgage” for purposes of the REMIC Provisions.

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.