Common use of Eligibility Requirements for Owner Trustee Clause in Contracts

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; authorized 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 authorities; and having (or having a parent that has) time deposits that are rated at least “Baa2” by Xxxxx’x or at least “BBB” by S&P and, if rated by Fitch, Fitch’s equivalent rating. If such national banking association or 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2.

Eligibility Requirements for Owner Trustee. The Owner Trustee under this Agreement shall at all times be a national banking association or corporation (i) having an office in the same State as the location of the Corporate Trust Office as specified in this Agreement; (ii) organized and doing business under the laws of such State or the United States or any State and satisfying the provisions of Section 3807(aAmerica; (iii) of the Statutory Trust Statute; authorized under such laws to exercise corporate trust powers; (iv) having a combined capital and surplus net worth of at least $50,000,000 and 50,000,000; (v) subject to supervision or examination by federal or State authorities; and having (or having a parent that hasvi) time deposits that are the long-term unsecured debt of which is rated at least “Baa2” Baa3 or which is approved by Xxxxx’x or at least “BBB” by S&P and, if rated by Fitch, Fitch’s equivalent ratingthe Insurer and each Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 15.08, 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 15.08, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.215.09.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; authorized 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 authorities; and having (or having a parent that has) time deposits that are rated at least “Baa2” by Xxxxx’x Moody’s or at least “BBB” by S&P and, if rated by Fitch, Fitch’s equivalent rating. If such national banking association or 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; authorized 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 authorities; and having (or having a parent that has) time deposits that are rated at least “Baa2Prime-1” by Xxxxx’x or at least and “BBBA-1” by S&P and, if rated by Fitch, Fitch’s equivalent rating. If such national banking association or 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national trust company or a banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust StatuteAct; authorized 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 state authorities; and having (or having a parent that which has) time deposits that are rated a rating of at least “Baa2Baa3” by Xxxxx’x or Moody’s, at least “BBBBBB-” by S&P Standard & Poor’s and, if rated by Fitch, at least “BBB-” by Fitch’s equivalent rating, or if not rated, otherwise satisfactory to each Note Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.02.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national trust company or a banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Business Trust Statute; authorized 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 state authorities; and having (or having a parent that which has) time deposits that are rated a rating of at least “Baa2” "Baa3" by Xxxxx’x or Moody's, at least “BBB” "BBB-" by S&P Standard & Poor's and, if rated by Fitch, at least "BBB-" by Fitch’s equivalent rating, or if not rated, otherwise satisfactory to each Note Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.02.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times satisfy the requirement of Section 26(a)(1) of the Investment Company Act. The Owner Trustee shall at all times: (a) be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust StatuteAct; (b) be authorized to exercise corporate trust powers; having (c) have a combined capital and surplus of at least $50,000,000 and be subject to supervision or examination by federal or State authorities; and having (d) have (or having have a parent that which has) time deposits that are rated a long-term unsecured debt rating of at least “Baa2” Baa3 by Xxxxx’x or at least “BBB” by S&P andInvestors Service, if rated by Fitch, Fitch’s equivalent rating. Inc. If such national banking association or corporation shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 6.13, 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 If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.13, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.26.10.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national trust company or a banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust StatuteAct; authorized 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 state authorities; and having (or having a parent that which has) time deposits that are rated a rating of at least “Baa2Baa3” by Xxxxx’x or Xxxxx’x, at least “BBBBBB-” by S&P Standard & Poor’s and, if rated by Fitch, at least “BBB-” by Fitch’s equivalent rating, or if not rated, otherwise satisfactory to each Note Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.02.

Eligibility Requirements for Owner Trustee. The Owner Trustee under this Agreement shall at all times be a national banking association or corporation (i) having an office in the same State as the location of the Corporate Trust Office as specified in this Agreement; (ii) organized and doing business under the laws of such State or the United States or any State and satisfying the provisions of Section 3807(aAmerica; (iii) of the Statutory Trust Statute; authorized under such laws to exercise corporate trust powers; (iv) having a combined capital and surplus net worth of at least $50,000,000 and 50,000,000; (v) subject to supervision or examination by federal or State authorities; and having (or having a parent that hasvi) time deposits that are the long-term unsecured debt of which is rated at least “Baa2” Baa3 or which is approved by Xxxxx’x or at least “BBB” by S&P and, if rated by Fitch, Fitch’s equivalent ratingthe Insurer and each Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 14.08, 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 14.08, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.214.09.

Eligibility Requirements for Owner Trustee. The Owner Trustee under this Agreement shall at all times be a national banking association or corporation (i) having an office in the same State as the location of the Corporate Trust Office as specified in this Agreement; (ii) organized and doing business under the laws of such State or the United States or any State and satisfying the provisions of Section 3807(aAmerica; (iii) of the Statutory Trust Statute; authorized under such laws to exercise corporate trust powers; (iv) having a combined capital and surplus net worth of at least $50,000,000 and 50,000,000; (v) subject to supervision or examination by federal or State authorities; and having (or having a parent that hasvi) time deposits that are the long-term unsecured debt of which is rated at least “Baa2” ____ or which is approved by Xxxxx’x or at least “BBB” by S&P and, if rated by Fitch, Fitch’s equivalent ratingthe Insurer and each Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 15.08, 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 15.08, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.215.09.

Eligibility Requirements for Owner Trustee. The Owner Trustee under this Agreement shall at all times be a national banking association or corporation (i) having an office in the same State as the location of the Corporate Trust Office as specified in this Agreement; (ii) organized and doing business under the laws of such State or the United States or any State and satisfying the provisions of Section 3807(aAmerica; (iii) of the Statutory Trust Statute; authorized under such laws to exercise corporate trust powers; (iv) having a combined capital and surplus net worth of at least $50,000,000 and 50,000,000; (v) subject to supervision or examination by federal or State authorities; and having (or having a parent that hasvi) time deposits that are the long-term unsecured debt of which is rated at least “Baa2” Baa3 or which is approved by Xxxxx’x or at least “BBB” by S&P and, if rated by Fitch, Fitch’s equivalent ratingthe Insurer and each Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 15.08, the combined capital 50 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 15.08, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.215.09.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and Person satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; authorized to exercise corporate trust powers; having (or having either a parent which has or a Co-Trustee which has) a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or State state authorities; and having (or having either a parent that which has or a Co-Trustee which has) time deposits that are rated a rating of at least “Baa2” Baa3 by Xxxxx’x or Mxxxx’x, at least “BBB” BBB- by S&P and, if rated by Fitch, at least BBB- by Fitch’s equivalent rating. If such national banking association or corporation Person shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 9.1, the combined capital and surplus of such corporation Person 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 9.1, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.2.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national trust company or a banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust StatuteAct; authorized 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 state authorities; and having (or having a parent that which has) time deposits that are rated a rating of at least “Baa2” "Baa3" by Xxxxx’x or Xxxxx'x, at least “BBB” "BBB-" by S&P Standard & Poor's and, if rated by Fitch, at least "BBB-" by Fitch’s equivalent rating, or if not rated, otherwise satisfactory to each Note Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.02.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and Person satisfying the provisions of Section 3807(a) of the Statutory Business Trust Statute; authorized 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 state authorities; and having (or having a parent that which has) time deposits that are rated a rating of at least “Baa2” Baa3 by Xxxxx’x or Moody's, at least “BBB” BBB- by S&P Standard & Poor's and, if rated by Fitch, at least BBB- by Fitch’s equivalent rating, or otherwise satisfactory to each Rating Agency (it being understood that Wilmington Trust Company is satisfactory to each Rating Agency). If such national banking association or corporation Person shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 9.01, the combined capital and surplus of such corporation Person 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 9.01, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.02.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times times: (a) be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust StatuteAct; (b) be authorized to exercise corporate trust powers; having (c) have a combined capital and surplus of at least $50,000,000 and be subject to supervision or examination by federal or State state authorities; and having (or having d) have a parent that has) time deposits that are rated long-term unsecured debt rating of at least “Baa2” Baa2 by Xxxxx’x or be otherwise satisfactory to Xxxxx’x; and (e) have a long-term unsecured debt rating of at least “BBB” BBB by S&P and, if rated by Fitch, Fitch’s equivalent rating. or be otherwise satisfactory to S&P. If such national banking association or corporation shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 6.13, 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 If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.13, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.26.10.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; authorized 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 authorities; and having (or having a parent that has) time deposits that are rated at least “Baa2” by Xxxxx’x Moody’s or at least “BBB” by S&P S & P and, if rated by Fitch, Fitch’s equivalent rating. If such national banking association or 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; authorized 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 authorities; and having (or having a parent that has) time deposits that are rated at least “Baa2” by Xxxxx’x or at least “BBB” by S&P S & P and, if rated by Fitch, Fitch’s equivalent rating. If such national banking association or 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.2.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Delaware Trust Statute; authorized 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 Federal or State authoritiesstate authorities and, so long as the Class A Notes are Outstanding and no Insurer Default has occurred and is continuing, acceptable to the Insurer in its sole reasonable discretion; and having (or having a parent that which has) time deposits that are rated a short-term debt rating of at least “Baa2A-1” by Xxxxx’x or at least “BBB” by S&P andthe equivalent by, if rated by Fitchor which is otherwise acceptable to, Fitch’s equivalent ratingthe Rating Agencies. If such national banking association or corporation shall publish reports of condition at least annually 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.02.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times satisfy the requirement of Section 26(a)(1) of the Investment Company Act. The Owner Trustee shall at all times: (a) be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust StatuteAct; (b) be authorized to exercise corporate trust powers; having (c) have a combined capital and surplus of at least $50,000,000 and be subject to supervision or examination by federal or State state authorities; and having (d) have (or having have a parent that which has) time deposits that are rated a long-term unsecured debt rating of at least “Baa2” Baa3 by Xxxxx’x or at least “BBB” by S&P andMxxxx’x Investors Service, if rated by Fitch, Fitch’s equivalent rating. Inc. If such national banking association or corporation shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 6.13, 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 If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 6.13, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.26.10.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Delaware Trust Statute; authorized 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 Federal or State authoritiesstate authorities and, so long as the Notes are Outstanding and no Insurer Default has occurred and is continuing, acceptable to the Controlling Insurer in its sole reasonable discretion; and having (or having a parent that which has) time deposits that are rated a short-term debt rating of at least “Baa2A-1” by Xxxxx’x or at least “BBB” by S&P andthe equivalent by, if rated by Fitchor which is otherwise acceptable to, Fitch’s equivalent ratingthe Rating Agencies. If such national banking association or corporation shall publish reports of condition at least annually 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.02.

Eligibility Requirements for Owner Trustee. The Owner Trustee shall at all times be a national trust company or a banking association or corporation organized under the laws of the United States or any State and satisfying the provisions of Section 3807(a) of the Statutory Trust StatuteAct; authorized 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 state authorities; and having (or having a parent that which has) time deposits that are rated a rating of at least “Baa2Baa3” by Xxxxx’x or Xxxxx’x, at least “BBB” by S&P Standard & Poor’s and, if rated by Fitch, at least “BBB” by Fitch’s equivalent rating, or if not rated, otherwise satisfactory to each Note Rating Agency. If such national banking association or corporation shall publish reports of condition at least annually annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this SectionSection 9.01, 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 Owner Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 9.01, the Owner Trustee shall resign immediately in the manner and with the effect specified in Section 10.29.02.