Common use of Eligibility Requirements for Trustee and Fiscal Agent Clause in Contracts

Eligibility Requirements for Trustee and Fiscal Agent. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation, authorized to exercise corporate trust powers, having a combined capital and surplus of not less than $100,000,000 and subject to supervision or examination by federal or state authority, and (iii) an institution whose long-term senior unsecured debt is, for so long as a Fiscal Agent is acting hereunder, rated not less than "BBB" by DCR and "BBB" by Fitch; provided that either the Trustee or the Fiscal Agent shall at all times be an institution whose long-term senior unsecured debt is rated not less than "AA" by DCR and "AA" by Fitch or otherwise acceptable to the Rating Agencies. If such corporation, national bank 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, national bank 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 or Fiscal Agent shall cease to be eligible in accordance with provisions of this Section, the Trustee or Fiscal Agent shall resign immediately in the manner and with the effect specified in Section 7.6.

Eligibility Requirements for Trustee and Fiscal Agent. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation, authorized to exercise corporate trust powers, having a combined capital and surplus of not less than $100,000,000 and subject to supervision or examination by federal or state authority, and (iii) an institution whose long-term senior unsecured debt is, for so long as a Fiscal Agent is acting hereunder, rated not less than "BBB" by DCR and "BBB" Baa2 by FitchXxxxx'x; provided that either the Trustee or the Fiscal Agent shall at all times be an institution whose long-term senior unsecured debt is rated not less than "AA" by DCR and "AA" Aa2 by Fitch Xxxxx'x or otherwise acceptable to the Rating Agencies. If such corporation, national bank 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, national bank 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 or Fiscal Agent shall cease to be eligible in accordance with provisions of this Section, the Trustee or Fiscal Agent shall resign immediately in the manner and with the effect specified in Section 7.6.

Eligibility Requirements for Trustee and Fiscal Agent. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation, national bank or national banking association authorized to exercise corporate trust powers, 103 having a combined capital and surplus of not less than $100,000,000 50,000,000 and subject to supervision or examination by federal or state authority, and (iii) an institution whose long-term senior unsecured debt is, for so long as a Fiscal Agent is acting hereunder, rated not less than "BBB" by DCR Fitch IBCA and "BBB" Baa2 by FitchXxxxx'x; provided that either the Trustee or the Fiscal Agent shall at all times be an institution whose long-term senior unsecured debt is rated not less than "AA" by DCR Fitch IBCA and "AA" Aa2 by Fitch Xxxxx'x or otherwise acceptable to the Rating AgenciesAgencies as evidenced by a Rating Agency Confirmation. If such corporation, national bank 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, national bank 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 or the Fiscal Agent shall cease to be eligible in accordance with provisions of this Section, the Trustee or Fiscal Agent shall resign immediately in the manner and with the effect specified in Section 7.6.

Eligibility Requirements for Trustee and Fiscal Agent. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation, authorized to exercise corporate trust powers, having a combined capital and surplus of not less than $100,000,000 50,000,000 and subject to supervision or examination by federal or state authority, and (iii) an institution whose long-term senior unsecured debt is, for so long as a Fiscal Agent is acting hereunder, rated not less than either (a) "AA" by S&P and, if rated by DCR, "AA" by DCR, and if not rated by DCR, then otherwise acceptable to DCR, if the Fiscal Agent does not have such ratings for its long-term senior secured debt, or (b) "BBB" by DCR and S&P and, if rated by DCR, "BBB" by Fitch; provided that either the Trustee DCR, or if not rated by DCR, then otherwise approved by DCR, if the Fiscal Agent shall at all times be an institution whose has a long-term senior unsecured secured debt is rated rating of not less than "AA" by DCR S&P and "AA" by Fitch or DCR, if rated by DCR, and if not rated by DCR, then otherwise acceptable to the Rating Agenciesapproved by DCR. If such corporation, corporation or national bank 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, corporation or national bank 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 or Fiscal Agent shall cease to be eligible in accordance with provisions of this Section, the Trustee or Fiscal Agent shall resign immediately in the manner and with the effect specified in Section 7.6.

Eligibility Requirements for Trustee and Fiscal Agent. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation, authorized to exercise corporate trust powers, having a combined capital and surplus of not less than $100,000,000 50,000,000 and subject to supervision or examination by federal or state authority, and (iii) an institution whose long-term senior unsecured debt is, for so long as a Fiscal Agent is acting hereunder, rated not less than "BBB" by DCR and (if rated by DCR or, if not rated by DCR, then an equivalent rating from another nationally recognized statistical rating organization other than Xxxxx'x) and, in any event, "BBBBaa2" by FitchXxxxx'x; provided that either the Trustee or the Fiscal Agent shall at all times be an institution whose long-term senior unsecured debt is rated not less than "AA" by DCR and (if rated by DCR or, if not rated by DCR, then an equivalent rating from another nationally recognized statistical rating organization other than Xxxxx'x) and, in any event, "AAAa2" by Fitch Xxxxx'x or otherwise acceptable to the Rating Agencies. If such corporation, national bank 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, national bank 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 or Fiscal Agent shall cease to be eligible in accordance with provisions of this Section, the Trustee or Fiscal Agent shall resign immediately in the manner and with the effect specified in Section 7.6.