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Eligible Sponsors
Eligible Sponsors are approved by veANZ holders and all Eligible Transactions must be submitted by Eligible Sponsors. Eligible Sponsors must be sophisticated parties that understand the underlying asset class in which their prospective Eligible Transaction is associated. Eligible Sponsors must also understand the Eligibility Criteria and avoid submitting any prospective Eligible Transactions that do not ultimately meet Eligibility Criteria as determined by an independent 3rd party verification agent.
In connection with an Approved Eligible Transaction, Eligible Sponsors must be capable of being a party to the Reserve Agreement and fulfilling its reporting and notification obligations. Such obligations may entail notifying Anzen and the independent 3rd party verification on a Covered Default, providing ongoing information to the independent 3rd party verification agent in order to ensure Approved Eligible Transactions adhere to ongoing Eligibility Criteria and general logistics to execute Reserve Agreements.
An Eligible Sponsor may become an Ineligible Sponsor if any of the following events occur:
  1. 1.
    Submitting three consecutive prospective Eligible Transactions for approval that all result in an independent 3rd party verification agent to provide a Statement of Ineligibility. For clarity, any resubmissions of a prospective Eligible Transaction will count towards this consecutive threshold
  2. 2.
    Breaching its duties under any Reserve Agreement

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