Retention Deficiency definition

Retention Deficiency. A failure of the Retention Provider to retain the Retention Interest as required by the Retention of Net Economic Interest Letter.

Retention Deficiency. An event which shall occur if the Subordinated Notes held by the EU/UK Retention Provider are insufficient to constitute the Retained Amount.

Retention Deficiency. A failure by the EU/UK Retention Holder to hold the EU/UK Retention Interest as required by the Retention of Net Economic Interest Letter.

Examples of Retention Deficiency in a sentence

• However, this requirement does not apply to any additional issuance of Subordinated Notes if such issuance is required in order to prevent or cure a Retention Deficiency for any reason.

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

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

• Such Trading Gains will then be distributed as Interest Proceeds if the reinvestment of such amount would, in the sole discretion of the Portfolio Manager, cause (or would be likely to cause) a Retention Deficiency in accordance with the Priorities of Payment.

• In addition, the Collateral Manager is not permitted to reinvest in Substitute Collateral Obligations where such reinvestment would cause (or would be likely to cause) a Retention Deficiency.

More Definitions of Retention Deficiency

Retention Deficiency. The failure of the E.U./U.K. Retention Provider to hold the E.U./U.K. Retained Interest at the relevant measurement time.

Retention Deficiency. The failure of the Retention Holder to hold the EU/UK Retention Interest at the relevant measurement time.

Retention Deficiency. As of any date of determination (as reported by the Collateral Manager to the Issuer, the Trustee and the Collateral Administrator), an event which occurs if the Aggregate Outstanding Amount of Subordinated Notes held by the Retention Holder is less than 5% of the Retention Basis Amount and as a result the EU/UK Securitization Requirements are not or would not be complied with.

Retention Deficiency. As of any date of determination, an event which occurs if the amount of the Subordinated Notes held by the EU/UK Retention Holder is (or will be) insufficient to comply with the Securitization Regulations.

Retention Deficiency. As of any Measurement Date, an event that will occur if the aggregate Dollar purchase price of the Retention Securities (calculated as of the date of issuance thereof) is less than the Retention Amount.

Retention Deficiency. As of any date of determination, an event that occurs if the Aggregate Outstanding Amount of Subordinated Notes held by the Retention Holder is less than 5.0 percent of the Retention Basis Amount and the E.U. Retention Requirements are not or would not be complied with as a result.

Retention Deficiency. As of any date of determination, an event which occurs if the Aggregate Outstanding Amount of Subordinated Notes held by the Retention Holder is less than 5 percent of the Retention Basis Amount and the Retention Requirements are not or would not be complied with as a result."Retention Event": An event which occurs if at any time the Retention Holder (a) sells, xxxxxx or otherwise mitigates its credit risk under or associated with the Retention or the underlying portfolio of Collateral Obligations, except to the extent permitted (i) under the Risk Retention Letter, to a successor collateral manager upon a removal or resignation of ICG Debt Advisors LLC as the Collateral Manager or (ii) in accordance with the Retention Requirements or (b) materially breaches the terms of the Risk Retention Letter. plus (iii) without duplication, the amounts on deposit in the Collection Account (including Eligible Investments therein) representing Principal Proceeds.