What information must the issuer and sponsor include in the prospectus or other offering document of an ABS in order to represent that the ABS is eligible collateral for a TALF loan?
In addition to information required by applicable laws, the issuer and sponsor must ensure that the information included in a prospectus or other offering document of an ABS they represent as eligible collateral under the TALF includes a signed certification indicating, among other items, that (1) the ABS is TALF eligible and (2) the sponsor (or, if the sponsor is a special purpose vehicle, the sponsor’s direct or indirect ultimate parent) has executed and delivered an undertaking to the New York Fed indemnifying it from any losses it may suffer if such certifications are untrue. Such indemnity undertaking shall be delivered to the New York Fed no later than four business days prior to the TALF loan settlement date. The form of certification and indemnity is at: http://www.newyorkfed.org/markets/ Form_Certification_TALF_Eligibility.pdf. SBA Pool Certificates and Development Company Participation Certificates are not required to provide an issuer certification or indemnity. However, poo
In addition to information required by applicable laws, the issuer and sponsor must ensure that the information included in a prospectus or other offering document of an ABS they represent as eligible collateral under the TALF includes a signed certification (the form of which will be available on the New York Fed TALF website) indicating, among other items, that (a) the ABS is TALF eligible, (b) an accounting firm retained by the sponsor has provided a certification, in a form acceptable to the New York Fed, that the ABS is TALF eligible, (c) the sponsor (or the relevant entity as specified in forthcoming TALF certification documents) has agreed to comply with the executive compensation requirements of the TALF and (d) the issuer and sponsor have executed an undertaking to the New York Fed indemnifying it from any losses it may suffer if such certifications are untrue.
In addition to information required by applicable laws, the issuer and sponsor must ensure that the information included in a prospectus or other offering document of an ABS they represent as eligible collateral under the TALF includes a signed certification indicating, among other items, that (a) the ABS is TALF eligible, (b) an accounting firm retained by the sponsor has provided an accountant’s report, in a form acceptable to the New York Fed, that the ABS is TALF eligible, and (c) the sponsor (or, if the sponsor is a special purpose vehicle, the sponsor’s direct or indirect ultimate parent) has executed and delivered an undertaking to the New York Fed indemnifying it from any losses it may suffer if such certifications are untrue. Such indemnity undertaking shall be delivered to the New York Fed no later than four days prior to the TALF loan settlement date. The form of certification and indemnity is at: http://www.new yorkfed.org/markets/ Form_Certification_TALF_Eligibility.pdf. S
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