Common use of Eligibility Requirements for the Trustee Clause in Contracts

Eligibility Requirements for the Trustee. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation or national banking association, organized and doing business under the laws of any State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate of the Master Servicer or the Servicer. If such corporation or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, for the purposes of this Section, the combined capital and surplus of such corporation or national banking association 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 Trustee shall cease to be eligible in accordance with provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.06.

Eligibility Requirements for the Trustee. The Trustee hereunder shall at all times be (i) an a bank or other depository institution insured by the FDIC, (ii) a corporation or national banking association, organized and doing business under the laws of any State or the United States of Americaor any state thereof, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of not less than at least $50,000,000 100,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate having a deposit rating of the Master Servicer or the Servicerat least BBB by Standard & Poor’s, Baa2 by Moody’s and, if rated by Fitch, BBB by Fitch. If such corporation or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, then for the purposes of this Section, the combined capital and surplus of such corporation or national banking association 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 Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.069.07.

Eligibility Requirements for the Trustee. The Trustee hereunder shall at all times be (i) an a bank or other depository institution insured by the FDIC, (ii) a corporation or national banking association, organized and doing business under the laws of any State or the United States of Americaor any state thereof, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of not less than at least $50,000,000 100,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate of the Master Servicer or the Servicerrated at least BBB by Standard & Poor's, and Baa2 by Xxxxx'x and, if rated by Fitch, BBB by Fitch. If such corporation or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, then for the purposes of this Section, the combined capital and surplus of such corporation or national banking association 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 Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.069.07. Any successor to the Trustee must be reasonably acceptable to the Certificate Insurer.