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

• On or before the Determination Date in the first Collection Period, the Collateral Manager may direct that any portion of the Interest Reserve Amount be transferred to the Collection Account and included as Interest Proceeds or Principal Proceeds for such Collection Period; provided that the purchase of Collateral Obligations with such funds shall not cause an EU/UK Retention Deficiency.

• The Trustee shall not have any obligation to (i) confirm the compliance by the Issuer, the Retention Holder or any other Person with EU Securitization Laws, U.S. Risk Retention Rules or the retention requirements of any other jurisdiction or (ii) determine or monitor whether a Retention Deficiency occurs.

• If a Contribution is accepted, the Collateral Manager on behalf of the Issuer will apply such Contribution to a Permitted Use as directed by the Contributor at the time such Contribution is made (or, if no direction is given by the Contributor, at the direction of the Collateral Manager in its sole discretion); provided, that no Contribution shall be applied as Principal Proceeds if such application would cause a Retention Deficiency.

• For purposes of determining compliance with the Retention Requirement Laws, calculating the Retained Amount and determining whether a Retention Deficiency has occurred, the Principal Balance of any Asset shall be its Principal Balance in each case without any adjustments for purchase price or the application of haircuts or other adjustments.

• The Issuer shall not issue additional Notes if a Retention Deficiency would occur after giving effect to the additional issuance and the receipt by the Issuer of the proceeds thereof.

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. 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 means, as of any date of determination, any event which occurs when the Principal Amount Outstanding of the Subordinated Notes held by the Retention Holder is less than 5 per cent. of the Aggregate Collateral Balance.

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.

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 Regulation.

Retention Deficiency. As of any date of determination, an event which occurs if the Aggregate Principal Amount of Subordinated Notes held by the Retention Holder is less than 5 percent of the Retention Basis Amount and as a result EU Retention Requirements are not complied with.