Common use of Eligibility Requirements for Delaware Trustee Clause in Contracts

Eligibility Requirements for Delaware Trustee. The Delaware Trustee will at all times (i) be authorized to exercise corporate trust powers, (ii) have a combined capital and surplus of at least $50,000,000, (iii) be a banking institution or trust company that is subject to supervision or examination by federal or state authorities, (iv) have or have a parent that has a rating (long-term debt) that is at least investment grade from at least one nationally recognized statistical rating organization; and (v) not be affiliated directly or indirectly with the Trustor (provided, that U.S. Bank Trust National Association may serve in trustee, fiduciary or other capacities in transactions involving the Trustor, affiliates of the Trustor, or trusts or other special purpose entities established by the Trustor). If such person will publish reports of condition at least annually pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such person will be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Delaware Trustee will at all times be a person satisfying the provisions of Section 3807(a) of the Statutory Trust Act. In case at any time the Delaware Trustee will cease to be eligible in accordance with the provisions of this Section, the Delaware Trustee will resign immediately in the manner and with the effect specified in Section 10.02.

Eligibility Requirements for Delaware Trustee. The Delaware Trustee will at all times (i) be authorized to exercise corporate trust powers, (ii) have a combined capital and surplus of at least $50,000,000, (iii) be a banking institution or trust company that is subject to supervision or examination by federal or state authorities, (iv) have or have a parent that has a rating (long-term debt) that is at least investment grade from at least one nationally recognized statistical rating organization; and (v) not be affiliated directly or indirectly with the Trustor (Trustor; provided, that U.S. Bank Trust National Association may serve in trustee, fiduciary or other capacities in transactions involving the Trustor, affiliates of the Trustor, or trusts or other special purpose entities established by the Trustor). If such person will publish reports of condition at least annually pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such person will be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Delaware Trustee will at all times be a person satisfying the provisions of Section 3807(a) of the Statutory Trust Act. In case at any time the Delaware Trustee will cease to be eligible in accordance with the provisions of this Section, the Delaware Trustee will resign immediately in the manner and with the effect specified in Section 10.02.

Eligibility Requirements for Delaware Trustee. The Delaware Trustee will at all times (i) be authorized to exercise corporate trust powers, (ii) have a combined capital and surplus of at least $50,000,000, (iii) be a banking institution or trust company that is subject to supervision or examination by federal or state authorities, (iv) have or have a parent that has a rating (long-term debt) that is at least investment grade from at least one nationally recognized statistical rating organization; and (v) not be affiliated directly or indirectly with the Trustor (provided, that U.S. Bank Trust National Association may serve in trustee, fiduciary or other capacities in transactions involving the Trustor, affiliates of the Trustor, or trusts or other special purpose entities established by the Trustor). If such person will publish reports of condition at least annually pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such person will be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Delaware Trustee will at all times be a person satisfying the provisions of Section 3807(a) of the Statutory Trust Act. In case at any time the Delaware Trustee will cease to be eligible in accordance with the provisions of this Section, the Delaware Trustee will resign immediately in the manner and with the effect specified in Section 10.02.10.02.‌

Eligibility Requirements for Delaware Trustee. The Delaware Trustee will at all times (i) be authorized to exercise corporate trust powers, (ii) have a combined capital and surplus of at least $50,000,000, (iii) be a banking institution or trust company that is subject to supervision or examination by federal or state authorities, (iv) have or have a parent that has a rating (long-term debt) that is at least investment grade from at least one nationally recognized statistical rating organization; and (v) not be affiliated directly or indirectly with the Trustor (provided, Trustor; provided that U.S. Bank Trust National Association may serve in trustee, fiduciary or other capacities in transactions involving the Trustor, affiliates of the Trustor, or trusts or other special purpose entities established by the Trustor). If such person will publish reports of condition at least annually pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such person will be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Delaware Trustee will at all times be a person satisfying the provisions of Section 3807(a) of the Statutory Trust Act. In case at any time the Delaware Trustee will cease to be eligible in accordance with the provisions of this Section, the Delaware Trustee will resign immediately in the manner and with the effect specified in Section 10.02.

Eligibility Requirements for Delaware Trustee. The Delaware Trustee will at all times (i) be authorized to exercise corporate trust powers, (ii) have a combined capital and surplus of at least $50,000,000, (iii) be a banking institution or trust company that is subject to supervision or examination by federal or state authorities, (iv) have or have a parent that has a rating (long-term debt) that is at least investment grade from at least one nationally recognized statistical rating organization; and (v) not be affiliated directly or indirectly with the Trustor (provided, provided that U.S. Bank Trust National Association may serve in trustee, fiduciary or other capacities in transactions involving the Trustor, affiliates of the Trustor, or trusts or other special purpose entities established by the Trustor). If such person will publish reports of condition at least annually pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section, the combined capital and surplus of such person will be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. The Delaware Trustee will at all times be a person satisfying the provisions of Section 3807(a) of the Statutory Trust Act. In case at any time the Delaware Trustee will cease to be eligible in accordance with the provisions of this Section, the Delaware Trustee will resign immediately in the manner and with the effect specified in Section 10.02.