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+Article 24 20. |
Article 24 20.The transaction documentation shall clearly specify:
(a)
the contractual obligations, duties and responsibilities of the sponsor, the servicer and the trustee, if any, and other ancillary service providers;
(b)
the processes and responsibilities necessary to ensure that a default or insolvency of the servicer does not result in a termination of servicing;
(c)
provisions that ensure the replacement of derivative counterparties and the account bank upon their default, insolvency and other specified events, where applicable; and
(d)
how the sponsor meets the requirements of Article 25(3). 1. Panoramica
1.1 Riferimenti1.2 Requisiti identificati1.3 Standard correlati2. Requisiti identificati
3. Standard correlati
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