+Article 21 6.

Article 21 6.

The transaction documentation shall include appropriate early amortisation provisions or triggers for termination of the revolving period where the securitisation is a revolving securitisation, including at least the following:

(a) 

a deterioration in the credit quality of the underlying exposures to or below a predetermined threshold;

(b) 

the occurrence of an insolvency-related event with regard to the originator or the servicer;

(c) 

the value of the underlying exposures held by the SSPE falls below a predetermined threshold (early amortisation event); and

(d) 

a failure to generate sufficient new underlying exposures that meet the predetermined credit quality (trigger for termination of the revolving period).

1. Panoramica

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1.1 Riferimenti

1.2 Requisiti identificati

1.3 Standard correlati

2. Requisiti identificati

Requisiti

3. Standard correlati

Standard