Common use of Eligibility of Collateral Agent Clause in Contracts

Eligibility of Collateral Agent. Any successor Collateral Agent shall be (a) a state or national bank or trust company in good standing, organized under the laws of the United States of America or of any state, having capital, surplus and undivided profits aggregating at least $500,000,000 and subject to supervision or examination by a Federal or state banking authority and (b) authorized under the laws of the jurisdiction of its incorporation or organization to assume the functions of the Collateral Agent, if there be such a bank or trust company willing and able to accept the duties hereunder upon reasonable and customary terms.

Eligibility of Collateral Agent. Any successor Collateral Agent shall be (a) a state or national bank or trust company in good standing, organized under the laws of the United States of America or of any stateState, having capital, surplus and undivided profits aggregating at least $500,000,000 and subject to supervision 100,000,000 or examination by a Federal guaranty of its obligations hereunder from such a bank or state banking authority and (b) authorized trust company or holding company in good standing, organized under the laws of the jurisdiction United States of its incorporation America or organization to assume the functions of the Collateral Agentany State having a capital, surplus and undivided profits aggregating at least $100,000,000, if there be such a bank or trust company willing and able to accept the duties hereunder upon reasonable and customary terms.

Eligibility of Collateral Agent. Any successor Collateral Agent shall be (a) a state or national bank or trust company in good standing, organized under the laws of the United States of America or of any state, having a capital, surplus and undivided profits aggregating at least $500,000,000 and subject to supervision or examination by a Federal or state banking authority and (b) authorized under the laws of the jurisdiction of its incorporation or organization to assume the functions of the Collateral Agent500,000,000, if there be such a bank or trust company willing and able to accept the duties hereunder upon reasonable and customary terms.