(b)

where the securitisation has been set up with a revolving period, the transaction documentation provides for appropriate early amortisation events, which shall include at a minimum all of the following: a deterioration in the credit quality of the underlying exposures; a failure to generate sufficient new underlying exposures of at least similar credit quality; the occurrence of an insolvency-related event with regard to the originator or the servicer;

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Source: EUR-Lex (Cellar) · retrieved 2026-11-06 · Text as adopted (Official Journal); later amendments are not incorporated in this text.