Examples of EU Retention Requirement in a sentence
Additionally, each of the parties hereto hereby agrees and, as evidenced by its acceptance of any benefits hereunder, the Certificateholder agrees, in no event shall the Owner Trustee have any responsibility to monitor compliance with, make calculations or provide or otherwise make available information or documents required by Regulation RR, EU Retention Requirement or any other rules or regulations regarding risk retention.
A failure by the Retention Holder to comply with the EU Retention Requirement may result in administrative and/or criminal penalties being imposed on the Retention Holder including, in the case of a legal person, pecuniary sanctions of at least EUR 5,000,000 (or its equivalent) or of up to 10 per cent.
On or after the Issue Date, BGFL (in its capacity as Risk Retention Holder and U.S. Retention Holder, as applicable) may directly or indirectly obtain funding to finance its economic exposure to some or all of (i) the UK Retained Interest and/or EU Retained Interest required to be retained in compliance with the UK Retention Requirement and/or EU Retention Requirement, and (ii) the U.S. Retained Interest required to be retained in compliance with the U.S. Retention Rules.
A Holder of Secured Notes (or a beneficial interest therein) that is subject to regulation under any EU Retention Requirement Law or party to liquidity or credit support arrangements provided by a financial institution that is subject to regulation under any EU Retention Requirement Law.An "institutional investor" as such term is defined in Article 2(12) of the EU Securitisation Regulation.
As regards the jurisdictional scope of the EU Retention Requirements, the Explanatory Memorandum to the original Commission proposal for a Securitisation Regulation implied that the EU Retention Requirement would not apply where none of the originator, sponsor or original lender is established in the EU.
European Union Regulation 575/2013The meaning specified in the definition of "EU Retention Requirement Laws".
If the direct obligation were to apply to the Retention Holder, failure by the Retention Holder to comply with the Securitisation Regulation’s direct retention requirements may result in a failure by the Retention Holder to comply with the EU Retention Requirement may result in administrative and/or criminal penalties being imposed on the Retention Holder including, in the case of a legal person, pecuniary sanctions of at least EUR 5,000,000 (or its equivalent) or of up to 10 per cent.
In such an event, with respect to the UK Retention Requirement and/or EU Retention Requirement, Notes held by other investors could be subject to an increased regulatory capital charge levied by a relevant regulator with jurisdiction over any such investor, and, also, with respect to the U.S. Retention Rules, the UK Retention Requirement and the EU Retention Requirement, the price and liquidity of the Notes held by an investor in the secondary market could be negatively impacted.
The following document is referenced elsewhere in this Section and is hereby incorporated by reference: Data Quality Screening Protocol, dated .
EU Retention Requirement The Retention Notes will be purchased by the Retention Holder on the Issue Date and, pursuant to the Retention Undertaking Letter, the Retention Holder will undertake to retain the Retention Notes in order to comply with the EU Retention Requirements.