Common use of Eligibility Requirements for Trustee Clause in Contracts

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agency. 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 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 8.07.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such any state or the United States of America, authorized under such laws to exercise corporate trust powers, having ratings on its long-term debt obligations at the time of such appointment in at least the third highest rating category by both Xxxxx’x or S&P or such lower ratings as will not cause Xxxxx’x or S&P to lower their then-current ratings of the Class A Certificates, having a combined capital and surplus of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 9.06 the combined capital and surplus of such corporation or 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 SectionSection 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.079.07 hereof.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be (i) an institution whose accounts are insured by the FDIC, (ii) a corporation or a national banking association having its principal office in a state and city acceptable to the Company and association, organized and doing business under the laws of such state any State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least not less than $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate of the short-term rating of such institution shall be A-1 Master Servicer or the Servicer (except in the case of Standard & Poor's if Standard & Poor's is a Rating Agencythe Trustee). 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 8.076.06.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking an association having its principal office in a state and city acceptable to (other than the Company and Depositor, the Originator, the Seller, the Master Servicer or any Affiliate of the foregoing) organized and doing business under the laws of such any state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 (or a member of a bank holding company whose capital and surplus is at least $50,000,000, ) and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. If such corporation or national banking association publishes reports of condition conditions 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 association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition conditions 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 8.07.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such any state or the United States of America, authorized under such laws to exercise corporate trust powers, having ratings on its long term debt obligations at the time of such appointment in at least the third highest rating category by both Xxxxx’x or S&P or such lower ratings as will not cause Xxxxx’x or S&P to lower their then current ratings of the Class A Certificates, having a combined capital and surplus of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 9.06 the combined capital and surplus of such corporation or 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 SectionSection 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.079.07 hereof.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such any state or the United States of America, authorized under such laws to exercise corporate trust powers, having ratings on its long-term debt obligations at the time of such appointment in at least the third highest rating category by both Fitch Ratings or S&P or such lower ratings as will not cause Fitch Ratings or S&P to lower their then-current ratings of the Class A Certificates, having a combined capital and surplus of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 9.06 the combined capital and surplus of such corporation or 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 SectionSection 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.079.07 hereof.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such any state or the United States of America, authorized under such laws to exercise corporate trust powers, having ratings on its long-term debt obligations at the time of such appointment in at least the third highest rating category by both Xxxxx’x and S&P or such lower ratings as will not cause Xxxxx’x or S&P to lower their then-current ratings of the Class A Certificates, having a combined capital and surplus of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 9.06 the combined capital and surplus of such corporation or 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 SectionSection 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.079.07 hereof.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such any state or the United States of America, authorized under such laws to exercise corporate trust powers, having ratings on its long term debt obligations at the time of such appointment in at least the third highest rating category by both Xxxxx’x and S&P or such lower ratings as will not cause Xxxxx’x or S&P to lower their then current ratings of the Class A Certificates, having a combined capital and surplus of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 9.06 the combined capital and surplus of such corporation or 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 SectionSection 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.079.07 hereof.

Eligibility Requirements for Trustee. The Trustee hereunder under this Agreement shall at all times be a corporation or a national banking association having its principal an office in a state and city acceptable to the Company same State as the location of the Corporate Trust Office as specified in this Agreement; and organized and doing business under the laws of such state State or the United States of America, ; authorized under such laws to exercise corporate trust powers, ; and having a combined capital and surplus net worth of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority State authorities and the shortlong-term rating unsecured debt of such institution shall be A-1 in which is rated at least Baa3 or which is approved by the case of Standard & Poor's if Standard & Poor's is a Surety Bond Issuer and each Rating Agency. If such corporation or national banking association publishes 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 purposes purpose of this Section 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 Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 15.08, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.0715.09.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to association, other than an Affiliate of the Company and Depositor, organized and doing business under the laws of such state or the United States of AmericaAmerica or any State thereof, authorized under such laws to exercise corporate trust powers, having its Corporate Trust Office in the State of New York or the Commonwealth of Massachusetts, having a combined capital and surplus of at least $50,000,000, 30,000,000 and subject to supervision or examination by federal or state authority and the short-term having a deposit rating of such institution shall be A-1 in the case category of Standard & Poor's if Standard & Poor's is a at least "A" from each Rating Agency. 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 8.06, 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 SectionSection 8.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.07.

Eligibility Requirements for Trustee. (a) The Trustee shall at all times satisfy the requirements of TIA Section 310(a) and Section (a)(4)(i) of Rule 3a-7 under the Investment Company Act. The Trustee hereunder shall at all times be a corporation or a national association which is not an Affiliate of the Depositor (but may have normal banking association having its principal office in a state and city acceptable relationships with the Depositor or any obligor with respect to the Company Underlying Securities with respect to such Series of Units and their respective Affiliates) organized and doing business under the laws of such state any State or the United States of AmericaStates, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, 200,000,000 and subject to supervision or examination by federal Federal or state authority State authority, and the shortlong-term rating debt obligations of such institution shall be A-1 which are rated in one of the case four highest categories assigned long-term debt obligations by each of Standard & Poor's if Standard & Poor's is a the Rating AgencyAgencies. If such corporation or national banking association publishes reports of condition conditions 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 association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition conditions so published. In case the event that at any time the Trustee shall cease to be eligible in accordance with the provisions terms of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.0710.07.

Eligibility Requirements for Trustee. The Trustee hereunder under this Agreement shall at all times be a corporation or a national banking association having its principal an office in a state and city acceptable to the Company same State as the location of the Corporate Trust Office as specified in this Agreement; and organized and doing business under the laws of such state State or the United States of America, ; authorized under such laws to exercise corporate trust powers, ; and having a combined capital and surplus net worth of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority State authorities and the shortlong-term rating unsecured debt of such institution shall be A-1 in which is rated at least Baa3 or which is approved by the case of Standard & Poor's if Standard & Poor's is a Insurer and each Rating Agency. If such corporation or national banking association publishes 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 purposes purpose of this Section 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 Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 15.08, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.0715.09.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be (i) an institution whose accounts are insured by the FDIC, (ii) a corporation or a national banking association having its principal office in a state and city acceptable to the Company and association, organized and doing business under the laws of such state any State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least not less than $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate of the short-term rating of such institution shall be A-1 Master Servicer or any Servicer (except in the case of Standard & Poor's if Standard & Poor's is a Rating Agencythe Trustee). 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 8.076.06.

Eligibility Requirements for Trustee. (a) The Trustee shall at all times satisfy the requirements of TIA Section 310(a) and Section (a)(4)(i) of Rule 3a-7 under the Investment Company Act. The Trustee hereunder shall at all times be a corporation or a national association which is not an Affiliate of the Depositor (but may have normal banking association having its principal office in a state and city acceptable relationships with the Depositor or any obligor with respect to the Company Underlying Securities with respect to such Series of Units and their respective Affiliates) organized and doing business under the laws of such state any State or the United States of AmericaStates, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal Federal or state authority State authority, and the shortlong-term rating debt obligations of such institution shall be A-1 which are rated in one of the case four highest categories assigned long-term debt obligations by each of Standard & Poor's if Standard & Poor's is a the Rating AgencyAgencies. If such corporation or national banking association publishes reports of condition conditions 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 association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition conditions so published. In case the event that at any time the Trustee shall cease to be eligible in accordance with the provisions terms of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.0710.07.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation or a national banking association having its principal office in a state and city acceptable to the Company and association, organized and doing business under the laws of such state any State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least not less than $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate of the short-term rating of such institution shall be A-1 in Servicer, the case of Standard & Poor's if Standard & Poor's is a Rating AgencyMaster Servicer or the Securities Administrator. 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 8.077.06.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be (i) an institution whose accounts are insured by the FDIC, (ii) a corporation or a national banking association having its principal office in a state and city acceptable to the Company and association, organized and doing business under the laws of such state any State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least not less than $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate of the short-Master Servicer or any Servicer. In addition, the Trustee shall have a minimum short term debt rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agency. at least “A-1” from S&P. 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 8.076.06.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such any state or the United States of America, (i) authorized under such laws to exercise corporate trust powers, (ii) having a combined capital and surplus of at least $50,000,00030,000,000, (iii) except in the case of the initial Trustee, whose unsecured and unguaranteed long-term debt obligations shall be rated at least "A" by S&P and (iv) subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 its 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 Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately resign, upon the request of the Majority Certificateholders, in the manner and with the effect specified in Section 8.0712.07.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association or a New York banking corporation having its principal office in a state and city acceptable to the Company Depositor and organized and doing business under the laws of such state or the United States of America000 xxxxx xx xxx Xxxxxx Xxxxxx xx Xxxxxxx, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and having a sufficient rating so as to maintain the shortthen-term rating current ratings of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating AgencyCertificates. 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 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 8.07.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agency. 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 102 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 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 8.07.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation or a national banking association having its principal office in a state and city acceptable to the Company and association, organized and doing business under the laws of such state any State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least not less than $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate of the short-term rating of such institution shall be A-1 in Servicer, the case of Standard & Poor's if Standard & Poor's is a Rating AgencyMaster Servicer or the Securities Administrator. 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 133 shall resign immediately in the manner and with the effect specified in Section 8.077.06.

Eligibility Requirements for Trustee. The Trustee hereunder (if other than Xxxxx Fargo) shall at all times be an Eligible Institution and a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such state or the United States of America, America or any state thereof 107 authorized under such laws to exercise corporate trust powers, having and such Trustee (including Xxxxx Fargo) shall have a combined capital and surplus of at least $50,000,00025,000,000 (or, in the case of a successor to the initial Trustee, $100,000,000) and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. If such corporation or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid federal or state supervising or examining authority, then for the purposes purpose of this Section 13.6, the combined capital and surplus of such corporation or 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 SectionSection 13.6, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.0713.7.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agency. 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 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 8.07. Section 8.07.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association association, other than an Affiliate of CMSI, having its principal office in a the same state and city acceptable to as that in which the Company initial Trustee under this Agreement has its principal office (or in the State of New York) and organized and doing business under the laws of such state State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, 30,000,000 and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 8.06, 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 SectionSection 8.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.07.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such any state or the United States of America, authorized under such laws to exercise corporate trust powers, having ratings on its long-term debt obligations at the time of such appointment in at least the third highest rating category by both Fitch or S&P or such lower ratings as will not cause Fitch or S&P to lower their then-current ratings of the Class A Certificates, having a combined capital and surplus of at least $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 9.06 the combined capital and surplus of such corporation or 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 SectionSection 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.079.07 hereof.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be (i) an institution insured by the FDIC, (ii) a corporation or a national banking association having its principal office in a state and city acceptable to the Company and association, organized and doing business under the laws of such state any State or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least not less than $50,000,000, 50,000,000 and subject to supervision or examination by federal or state authority and (iii) not an Affiliate of the shortMaster 113535 Sequoia 2004-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agency7 Pooling and Servicing Agmt. 73 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 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 8.076.06.

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be (a) an institution the deposits of which are fully insured by the FDIC and (b) a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such state or the United States of AmericaAmerica or of any State, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least not less than $50,000,000, 30,000,000 and subject to supervision or examination by federal Federal or state State authority and (c) with respect to every successor trustee hereunder either an institution (i) the shortlong-term rating unsecured debt obligations of such institution shall be A-1 which are rated at least "A" by S&P and "A" by Fitch or (ii) whose serving as Trustee hereunder would not result in the case lowering of Standard & Poor's if Standard & Poor's is a Rating Agencythe ratings originally assigned to any Class of Certificates. The Trustee shall not be an affiliate of the Depositor or the Master 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 9.05, 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 8.07.to

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agency. 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 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 8.07.. 100

Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such any 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 at least $50,000,000, a rating on its unsecured long-term debt in one of the four highest rating categories from each Rating Agency, and, if not rated by a Rating Agency, then otherwise acceptable to each Rating Agency, and subject to supervision or examination by federal or state authority and the short-term rating of such institution shall be A-1 in the case of Standard & Poor's if Standard & Poor's is a Rating Agencyauthority. 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 5.11 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 Trustee shall cease to be eligible in accordance with the provisions of this SectionSection 5.11, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.075.12.