Retention Deficiency definition

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.

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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.

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.
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.
The Investment Manager, on behalf of the Issuer, with the consent of a Majority of the Subordinated Notes, may accept or reject any Contribution in its sole discretion and shall notify the Trustee in writing of any such acceptance; provided that the Investment Manager will reject any proposed Contribution if so directed by the Retention Holder on the basis that the proposed Contribution would cause a Retention Deficiency.
For the avoidance of doubt, unless the deposit of Trading Gains into the Principal Collection Account would, in the sole discretion of the Collateral Manager cause (or would be likely to cause) a Retention Deficiency, Trading Gains shall be deposited in the Principal Collection Account as Principal Proceeds.
The Contributor hereby appoints the Master Servicer to hold any such distributions and receipt by the Master Servicer into the Huntsman Receipts Account of any such amounts shall discharge the amounts payable to the Contributor with respect to the Contribution Value hereunder Notwithstanding the foregoing, the Company shall not distribute any amounts to the Contributor in respect of Contribution Value, a distribution to equity or otherwise if such distribution would cause a Required Retention Deficiency.

More Definitions of Retention Deficiency

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. 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. A failure by the E.U./UK Retention Provider to hold the E.U./UK Retained Interest as required by the Risk Retention Letter.

Retention Deficiency. As of any date of determination, an event which occurs if the material net economic interest in the Debt held by the Retention Holder is less than 5% of the Retention Basis Amount and the EU/UK Risk Retention Requirements (as in effect on the Closing Date) 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 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 means, as of any date of determination, an event which occurs if the Principal Amount Outstanding of the Class M-1 Subordinated Notes held by the Retention Holder is less than 5 per cent. of the greater of (i) the Aggregate Collateral Balance and (ii) the Target Par Amount, and the Retention Requirements are not or would not be complied with as a result.