Criterion B11: Voting and Enforcement Rights (Transaction Level)
Effective from Dec 28 2022 - Dec 31 2022
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| 18.145 | For each transaction, the sponsor should ensure that, in particular upon insolvency of the seller or where the obligor is in default on its obligation, all voting and enforcement rights related to the credit claims or receivables are, if applicable: | |
| (1) | Transferred to the conduit; and | |
| (2) | Clearly defined under all circumstances, including with respect to the rights of the conduit versus other parties with an interest (e.g. sellers), where relevant. | |