Examples of EU Retention Rules in a sentence
The portion of the Certificates being retained to satisfy the requirements of Regulation RR and the EU Retention Rules is referred to herein as the “Retained Interest.” As of the last day of the period covered by this report the depositor or another wholly-owned special purpose subsidiary of Santander Consumer continues to retain the Retained Interest in accordance with Regulation RR and Santander Consumer continues to hold indirectly the Retained Interest for purposes of the EU Retention Rules.
Failure by affected investors to comply with one or more of the requirements set out in the EU Retention Rules or Future EU Retention Rules may result in the imposition of a penalty regulatory capital charge through additional risk weights levied in respect of the offered notes acquired by applicable noteholders that are subject to the EU Retention Rules or any Future EU Retention Rules, or in the imposition of other regulatory sanctions.
However, Santander Consumer has not transferred or hedged the Retained Interest except as permitted under Regulation RR and the EU Retention Rules.
Santander Consumer has not changed the manner in which it retains the Retained Interest, except in accordance with Regulation RR and the EU Retention Rules.
Prospective investors are themselves responsible for monitoring and assessing changes to the EU Retention Rules and their regulatory capital requirements.
Failure by affected investors to comply with one or more of the requirements set out in the EU Retention Rules may result in the imposition of a penalty regulatory capital charge through additional risk weights levied in respect of the offered notes acquired by applicable noteholders that are subject to the EU Retention Rules, or in the imposition of other regulatory sanctions.
Each Affected Investor should consult with their own legal and regulatory advisors to determine whether, and to what extent, the information described is sufficient for compliance by that Affected Investor with any applicable EU Retention Rules.
Prospective noteholders are responsible for analyzing their own regulatory position and are advised to consult with their own advisors regarding the suitability of the offered notes for investment and compliance with the applicable EU Retention Rules.
There can be no assurance that the regulatory capital treatment of the Offered Notes for any investor will not be affected by any future implementation of, and changes to, the EU Retention Rules or other regulatory or accounting changes.
In the event that a regulator determines that the transaction did not comply or is no longer in compliance with the EU Retention Rules or the Affected Investor has insufficient information to satisfy its due diligence and/or ongoing monitoring requirements under the EU Retention Rules, then an Affected Investor may be required by its regulator to set aside additional capital against its investment in the Notes or take other remedial measures in respect of its investment in the Notes.