Eligibility Requirements for Issuer Trustee. The Issuer Trustee shall at all times be a corporation satisfying the provisions of Section 3807(a) of the Statutory Trust Act; authorized to exercise corporate trust powers; having a combined capital and surplus of at least $50,000,000 (or whose obligations hereunder are guaranteed by a bank or trust company authorized to exercise corporate trust powers and subject to examination by Federal or state authority, of good standing and having a combined capital and surplus aggregating at least such amount) and subject to supervision or examination by federal or state authorities; and not affiliated directly or indirectly with the Owner (provided, that Wilmington Trust may serve in trustee, fiduciary or other capacities in transactions involving the Owner, affiliates of the Owner, or trusts or other special purpose entities established by the Owner) or involved in the organization of the Owner. If such corporation shall 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 corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Issuer Trustee shall cease to be eligible in accordance with the provisions of this Section, the Issuer Trustee shall resign immediately in the manner and with the effect specified in Section 10.02.
Eligibility Requirements for Issuer Trustee. The Issuer Trustee hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or any state thereof authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by Federal or state authority. If such corporation publishes 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 11.6, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In addition, no institution shall qualify as a Successor Issuer Trustee hereunder unless its long-term debt obligations are rated at least investment grade by each Rating Agency. In case at any time the Issuer Trustee shall cease to be eligible in accordance with the provisions of this Section 11.6, the Issuer Trustee shall resign immediately in the manner and with the effect specified in Section 11.7.
Eligibility Requirements for Issuer Trustee. The Issuer Trustee shall
