Regulation 13 - Obligation to redeem securitised debt instruments
Securities And Exchange Board Of India (Issue And Listing Of Securitised Debt Instruments And Security Receipts) Regulations, 2008 Chapter IV SCHEMES OF SPECIAL PURPOSE DISTINCT ENTITIES
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Obligation to redeem securitised debt instruments ensures timely payments to investors from asset pool realizations and credit enhancers. The trustee and the special purpose distinct entity must ensure timely payment of interest and redemption to investors from asset pool realisations, credit enhancers, or liquidity providers in terms of the offer document. The trustee must ensure the servicer adopts prudent recovery measures under the origination documents for obligor defaults. The offer document must disclose the expected maturity period for each scheme and the possibility and likely circumstances of any extension or shortening.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Obligation to redeem securitised debt instruments ensures timely payments to investors from asset pool realizations and credit enhancers.
The trustee and the special purpose distinct entity must ensure timely payment of interest and redemption to investors from asset pool realisations, credit enhancers, or liquidity providers in terms of the offer document. The trustee must ensure the servicer adopts prudent recovery measures under the origination documents for obligor defaults. The offer document must disclose the expected maturity period for each scheme and the possibility and likely circumstances of any extension or shortening.
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