ABS: Sponsor / Depositor

Sponsor defined

Entity that organizes and initiates an ABS transaction

By selling or transferring assets, either directly or indirectly, including through an affiliate, to the issuing entity
Where there is not an intermediate transfer of assets from the sponsor to the issuing entity, the sponsor is the depositor

SEC commentary

Depositor defined

Intermediate special purpose entities

Specific disclosures are required, if the depositor is different from the sponsor

SEC commentary

Disclosure items

Form 10-D

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