Common use of Commercial Paper Clause in Contracts

Commercial Paper. Securities bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States or any State so long as at the time of such investment or contractual commitment providing for such investment either the long-term, unsecured debt of such corporation has the highest available ratings from any two national rating agencies or the Titling Trustee shall have received a letter from any such rating agency that then rates any Trust-Related Obligation to the effect that such investment would not result in the qualification, downgrading or withdrawal of the rating then assigned to such Trust-Related Obligation, or commercial paper or other short-term debt rated by any national rating agency in one of its two highest rating categories.