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 any 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 institution insured by the FDIC, (ii) be a corporation or a national banking association, association organized and doing business under the laws of any State state or the United States of AmericaAmerica or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of not less than at least $50,000,000 and subject to supervision or examination by federal or state authority and (iiiii) not an Affiliate satisfy the requirements of the Master Servicer or any Servicerparagraph (a) (4) of Rule 3a-7. 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, 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 6.065.07 hereof. The corporation or national banking association serving as Trustee may have normal banking and trust relationships with the Depositor and its affiliates; provided, however, that such corporation or association cannot be an affiliate of the Depositor.

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 any Servicerrated at least BBB by Standard & Poor's, and 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. Any successor to the Trustee must be reasonably acceptable to the Certificate Insurer.

Eligibility Requirements for the Trustee. The Trustee hereunder shall at all times (a) be (i) an institution insured by the FDIC, (ii) a corporation or national banking association, Person organized and doing business under the laws of any the State or the United States of AmericaDelaware, (b) be authorized under such laws to exercise corporate trust powers, having (c) have a combined capital and surplus of not less than at least $50,000,000 and be subject to supervision or examination by federal Federal or state authority State authorities, (d) have (or have a parent which has) a rating of at least Baa3 by Moody’s or BBB- by Standard & Poor’s, (e) be a “bank” within the meaning of Section 581 of the Code and (iiif) not an Affiliate be a “United States person” within the meaning of Section 7701(a)(30) of the Master Servicer or any ServicerCode. In addition, the Trustee shall be an entity with its Corporate Trust Office in the State of Delaware. If such corporation or national banking association publishes the Trustee shall publish reports of condition at least annually, pursuant to applicable law or to the requirements of the aforesaid supervising or examining authority, then, then for the purposes purpose of this SectionSection 8.01, the combined capital and surplus of such corporation or national banking association the Trustee 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 Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 8.01, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.068.02.