Common use of Corporate Indenture Trustee Required; Eligibility Clause in Contracts

Corporate Indenture Trustee Required; Eligibility. The Issuers hereby agree that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal or state authority, the long-term unsecured debt of which is rated not lower than “A-” by S&P and the short-term debt of which is rated not lower than “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of any Person involved in the organization or operation of any Issuer or be directly or indirectly controlled by any Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers hereby agree that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal Federal or state State authority, the long-term unsecured debt of which is rated not lower than “A-” by S&P (or such other criteria set forth in the most recent Series Supplement) and the short-short term debt of which is rated not no lower than “A-1” A-1 by S&PS&P (or such other criteria set forth in the most recent Series Supplement), or another institution the retention of which satisfies the Rating Condition. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable said supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of any Person involved in the organization or operation of any Issuer or be directly or indirectly controlled by any Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers hereby agree that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 1000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal or state authority, the long-term unsecured debt of which is rated not lower than “A-” by S&P and the short-term debt of which is rated not lower than “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of any Person involved in the organization or operation of any Issuer or be directly or indirectly controlled by any Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers hereby agree that there shall There will at all times be an Indenture Trustee hereunder with respect to each Series, Class or Tranche of Notes, which shall will be either a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) or a corporation organized and doing business under the laws of the United States of America or of any State state thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, a combined capital and surplus and undivided profits of at least $100,000,00050,000,000, and subject to supervision or examination by federal or state authority, the long-term unsecured debt having a rating of which is rated not lower than at least “A-BBB-“ by Fitch, “Baa3” by S&P Moody’s and the short-term debt of which is rated not lower than “A-1BBB-” by S&P, S&P. The Indenture Trustee shall at all times meet the requirements of Rule 3a-7(a)(4)(i) under the Investment Company Act and shall not provide credit or another institution credit enhancement to the retention of which satisfies the Rating ConditionIssuing Entity. If such bank the Indenture Trustee publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital, capital and surplus and undivided profits of such bank shall corporation will be deemed to be its combined capital, capital and surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of Issuing Entity may not, nor may any Person involved in the organization or operation of any Issuer or be directly or indirectly controlling, controlled by any Issuerby, or under common control with the Issuing Entity, serve as Indenture Trustee. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased with respect to any Series, Class or Tranche of Notes will cease to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall it will resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VII.

Corporate Indenture Trustee Required; Eligibility. The Issuers Issuer hereby agree agrees, for the benefit of the Noteholders and the Certificate Insurer, that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx1940 Act) organized and doing business under the laws of the United States or Sxxxxx xx any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, a combined capital and surplus and undivided profits of at least $100,000,00050,000,000, and subject to supervision or examination by federal Federal or state State authority, and is otherwise acceptable to the long-term unsecured debt Certificate Insurer or, if a Certificate Insurer Default is then continuing, Holders representing a majority of which is rated not lower than “A-” by S&P and the short-term debt Note Principal Balance of which is rated not lower than “A-1” by S&P, or another institution the retention of which satisfies the Rating ConditionOutstanding Notes. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable said supervising or examining authority, then for the purposes of this Section, the combined capital, capital and surplus and undivided profits of such bank shall be deemed to be its combined capital, capital and surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any the Issuer or an Affiliate of any Person involved in the organization or operation of any the Issuer or be directly or indirectly controlled by any the Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers Issuer hereby agree agrees, for the benefit of the Noteholders, that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal Federal or state State authority, the long-term unsecured debt of which is rated not lower than “A-” by S&P and the short-long term debt of which is rated not lower than “A-1” "A" by S&P, or another institution the retention of which satisfies the any Rating ConditionAgency. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable said supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any the Issuer or an Affiliate of any Person involved in the organization or operation of any the Issuer or be directly or indirectly controlled by any the Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers hereby agree that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 1000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal or state authority, the long-term unsecured debt of which is rated not lower than “A-A” by S&P and the short-term debt of which is rated not lower than “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable supervising or examining authority, then for the purposes of this SectionSection 5.05, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of any Person involved in the organization or operation of any Issuer or be directly or indirectly controlled by any Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this SectionSection 5.05, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.Article V.

Corporate Indenture Trustee Required; Eligibility. The Issuers Issuer hereby agree agrees that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 1000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal Federal or state State authority, the long-term unsecured debt of which is rated not lower than “A-” by S&P and the short-term debt of which is rated not lower than “A-1A-2” by Moody’s and “A” by S&P, or another institution the retention of which satisfies is otherwise acceptable to the Rating ConditionAgencies (as evidenced by Rating Agency Confirmations). If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable said supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any the Issuer or an Affiliate of any Person involved in the organization or operation of any the Issuer or be directly or indirectly controlled by any the Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers hereby agree that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx1940 Act) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal or state authority, the long-term unsecured debt of which is rated not lower than “A-” by S&P and the short-term debt of which is rated not lower than “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of any Person involved in the organization or operation of any Issuer or be directly or indirectly controlled by any Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers Issuer hereby agree agrees that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,00050,000,000, and subject to supervision or examination by federal Federal or state State authority, the long-term unsecured debt of which is rated not lower than “A-” by S&P and the short-term debt of which is rated not lower than “P-1” by Xxxxx’x and “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition). If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable said supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of the Issuer or any Co-Issuer or an Affiliate of any Person involved in the organization or operation of the Issuer or any Co-Issuer or be directly or indirectly controlled by the Issuer or any Co-Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers hereby agree that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal Federal or state State authority, the long-term unsecured debt of which is rated not lower than “A-A1” by Moody’s and “A+” by S&P and the short-term debt of which is rated not lower than “P-1” by Moody’s and “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable said supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of any Person involved in the organization or operation of any Issuer or be directly or indirectly controlled by any Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers Issuer hereby agree that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal or state authority, the long-term unsecured debt of which is rated not lower than “A-” by S&P and the short-term debt of which is rated not lower than “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of any Person involved in the organization or operation of any Issuer or be directly or indirectly controlled by any Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers Issuer hereby agree agrees that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 1000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal Federal or state State authority, the long-term unsecured debt of which is rated not lower than “A-A+” by S&P and the short-term debt of which is rated not lower than “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition. S&P. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable supervising or examining authority, then for the purposes of this SectionSection 5.05, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any the Issuer or an Affiliate of any Person involved in the organization or operation of any the Issuer or be directly or indirectly controlled by any the Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this SectionSection 5.05, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers hereby agree that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal Federal or state State authority, the long-term unsecured debt of which is rated not lower than “A-A1” by Xxxxx’x and “A+” by S&P and the short-term debt of which is rated not lower than “P-1” by Xxxxx’x and “A-1” by S&P, or another institution the retention of which satisfies the Rating Condition. If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable said supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and and-undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any Issuer or an Affiliate of any Person involved in the organization or operation of any Issuer or be directly or indirectly controlled by any Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Corporate Indenture Trustee Required; Eligibility. The Issuers Issuer hereby agree agrees that there shall at all times be an Indenture Trustee hereunder which shall be a bank (within the meaning of Section 2(a)(5) of the 0000 Xxx) organized and doing business under the laws of the United States or any State thereof, authorized under such laws to exercise corporate trust powers, having aggregate capital, surplus and undivided profits of at least $100,000,000, and subject to supervision or examination by federal Federal or state State authority, the long-term unsecured debt of which is rated not lower than “A-A-1” by Moody’s and “A+” by S&P and the short-term debt of which is rated not lower than “P-1” by Moody’s and “A-1” by S&P, or another institution the retention of which satisfies the is otherwise acceptable to each Rating ConditionAgency (as evidenced by Rating Agency Confirmations). If such bank publishes reports of condition at least annually, pursuant to law or to the requirements of the applicable said supervising or examining authority, then for the purposes of this Section, the combined capital, surplus and undivided profits of such bank shall be deemed to be its combined capital, surplus and undivided profits as set forth in its most recent report of condition so published. The Indenture Trustee shall at all times meet the requirements of Section 26(a)(1) of the 1940 Act and shall in no event be an Affiliate of any the Issuer or an Affiliate of any Person involved in the organization or operation of any the Issuer or be directly or indirectly controlled by any the Issuer. If at any time a Responsible Officer of the Indenture Trustee becomes aware that the Indenture Trustee has ceased to be eligible in accordance with the provisions of this Section, the Indenture Trustee it shall resign immediately in the manner and with the effect hereinafter specified in this Article.