ELIGIBILITY AND DISQUALIFICATION. This Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee under Trust Indenture Act Sections 310(a)(1) and 310(a)(2). The Note Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTEREST" within the meaning of Trust Indenture Act Section 310(b), the Note Trustee and the Current Issuer shall comply with the provisions of Trust Indenture Act Section 310(b); provided, however, that there shall be excluded from the operation of Trust Indenture Act Section 310(b)(1) any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Issuer are outstanding if the requirements for such exclusion set forth in Trust Indenture Act Section 310(b) (1) are met. If at any time the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification), the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 (Retirement or Removal of Note Trustee).
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Samples: Issuer Trust Deed (Granite Mortgages 03-1 PLC), Issuer Trust Deed (Granite Mortgages 03-2 PLC), Issuer Trust Deed (Granite Mortgages 03-1 PLC)
ELIGIBILITY AND DISQUALIFICATION. This Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee under Trust Indenture Act Sections 310(a)(1) and 310(a)(2). The Note Trustee shall have a combined capital and surplus of at least $50,000,000 U.S.$50,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTERESTconflicting interest" within the meaning of Trust Indenture Act Section 310(b), the Note Trustee and the Current Master Issuer shall comply with the provisions of Trust Indenture Act Section 310(b); provided, however, that there shall be excluded from the operation of Trust Indenture Act Section 310(b)(1) any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Master Issuer are outstanding if the requirements for such exclusion set forth in Trust Indenture Act Section 310(b)
(1) are met. If at any time the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification), the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 (Retirement or Removal of Note Trustee).
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Samples: Issuer Trust Deed (Granite Finance Funding 2 LTD), Second Amended Issuer Trust Deed (Granite Finance Trustees LTD)
ELIGIBILITY AND DISQUALIFICATION. This Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee a note trustee under Trust Indenture Act Sections 310(a)(1) and 310(a)(2)) of the Trust Indenture Act. The Note Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTERESTconflicting interest" within the meaning of Section 310(b) of the Trust Indenture Act Section 310(b)Act, the Note Trustee and the Current Master Issuer shall comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b)Act; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the Trust Indenture Act Section 310(b)(1) any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Master Issuer are outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture Act Section 310(b)
(1) are met. If If, at any time time, the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification)22.1, the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 (Retirement or Removal of Note Trustee)23.
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ELIGIBILITY AND DISQUALIFICATION. This Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee under Trust Indenture Act Sections 310(a)(1) and 310(a)(2)) of the Trust Indenture Act. The Note Trustee shall have a combined capital and surplus of at least $50,000,000 U.S.$50,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTEREST" conflicting interest within the meaning of Section 310(b) of the Trust Indenture Act Section 310(b)Act, the Note Trustee and the Current Master Issuer shall comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b)Act; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the Trust Indenture Act Section 310(b)(1) any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Master Issuer are outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture Act Section 310(b)
(1) are met. If at any time the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification)21.1, the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 (Retirement or Removal of Note Trustee)22.
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Samples: Master Issuer Trust Deed (Permanent Funding (No. 2) LTD)
ELIGIBILITY AND DISQUALIFICATION. This Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee under Trust Indenture Act Sections 310(a)(1) and 310(a)(2)) of the Trust Indenture Act. The Note Trustee shall have a combined capital and surplus of at least $50,000,000 U.S.$50,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTEREST" conflicting interest within the meaning of Section 310(b) of the Trust Indenture Act Section 310(b)Act, the Note Trustee and the Current Issuer shall comply with the provisions of Section 310(b) of the Trust Indenture Act Section 310(b)Act; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the Trust Indenture Act Section 310(b)(1) any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Issuer are outstanding if the requirements for such exclusion set forth in Section 310(b)(1) of the Trust Indenture Act Section 310(b)
(1) are met. If at any time the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification)CLAUSE 21.1, the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 (Retirement or Removal of Note Trustee)CLAUSE 22.
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ELIGIBILITY AND DISQUALIFICATION. This Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee under Trust Indenture Act Sections 310(a)(1) and 310(a)(2). The Note Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTERESTconflicting interest" within the meaning of Trust Indenture Act Section 310(b), the Note Trustee and the Current Issuer shall comply with the provisions of Trust Indenture Act Section 310(b); provided, however, that there shall be excluded from the operation of Trust Indenture Act Section 310(b)(1) any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Issuer are outstanding if the requirements for such exclusion set forth in Trust Indenture Act Section 310(b)
(1) are met. If at any time the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification), the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 (Retirement or Removal of Note Trustee).
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ELIGIBILITY AND DISQUALIFICATION. This Note Trust Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee under Trust Indenture Act Sections 310(a)(1), 310(a)(2) and 310(a)(2)310(a)(5) of the TIA. The Note Trustee shall have a combined capital and surplus of at least $50,000,000 U.S.$150,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTERESTconflicting interest" within the meaning of Trust Indenture Act Section 310(b)) of the TIA, the Note Trustee and the Current Issuer Issuing Entity shall comply with the provisions of Trust Indenture Act Section 310(b); provided) of the TIA PROVIDED, howeverHOWEVER, that THAT there shall be excluded from the operation of Trust Indenture Act Section 310(b)(1) of the TIA any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Issuer Issuing Entity are outstanding if the requirements for such exclusion set forth in Trust Indenture Act Section 310(b)
(1310(b)(1) of the TIA are met. If at any time the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification)16.1, the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 16.4 (Retirement or Removal of Note TrusteeTrustees).
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ELIGIBILITY AND DISQUALIFICATION. This Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee under Trust Indenture Act Sections 310(a)(1) and 310(a)(2). The Note Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTERESTconflicting interest" within the meaning of Trust Indenture Act Section 310(b), the Note Trustee and the Current Master Issuer shall comply with the provisions of Trust Indenture Act Section 310(b); provided, however, that there shall be excluded from the operation of Trust Indenture Act Section 310(b)(1) any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Master Issuer are outstanding if the requirements for such exclusion set forth in Trust Indenture Act Section 310(b)
(1) are met. If at any time the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification), the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 (Retirement or Removal of Note Trustee).
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ELIGIBILITY AND DISQUALIFICATION. This Deed shall always have a Note Trustee which shall be eligible to act as Note Trustee under Trust Indenture Act Sections 310(a)(1) and 310(a)(2). The Note Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. If the Note Trustee has or shall acquire any "CONFLICTING INTERESTconflicting interest" within the meaning of Trust Indenture Act Section 310(b), the Note Trustee and the Current Eighth Issuer shall comply with the provisions of Trust Indenture Act Section 310(b); provided, however, that there shall be excluded from the operation of Trust Indenture Act Section 310(b)(1) any deed or deeds under which other securities or certificates of interest or participation in other securities of the Current Eighth Issuer are outstanding if the requirements for such exclusion set forth in Trust Indenture Act Section 310(b)
(1) are met. If at any time the Note Trustee shall cease to be eligible in accordance with the provisions of this Clause 14.2 (Eligibility and Disqualification)21.1, the Note Trustee shall resign promptly in the manner and with the effect specified in Clause 14.5 (Retirement or Removal of Note Trustee)22.
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Samples: Eighth Issuer Trust Deed (Holmes Financing No 8 PLC)