Eligibility to Hold Posted Collateral. Custodians. Party B (or its Custodian) will be entitled to hold Posted Collateral pursuant to Paragraph 6(b), provided that the following conditions applicable to it are satisfied:
Eligibility to Hold Posted Collateral. Custodians. Party B (or its Custodian) will be entitled to hold Posted Collateral pursuant to Paragraph 6(b), provided that the following conditions applicable to it are satisfied:
(1) it is not a Defaulting Party.
(2) Posted Collateral consisting of Cash or certificated securities that cannot be paid or delivered by book-entry may be held only in any state of the United States which has adopted the Uniform Commercial Code.
(3) in the case of any Custodian for Party B, such Custodian (or, to the extent applicable, its parent company or credit support provider) shall then have a short-term unsecured and unsubordinated debt rating from S&P of at least “A-1”. Initially, the Custodian for Party B is: Swap Administrator
Eligibility to Hold Posted Collateral. Custodians. Party B (or any Custodian) will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:
(1) The Custodian is a bank or trust company located in the United States having total assets of at least $250,000,000 and a short term unsecured debt or counterparty rating of "Prime-1" from Moody's and "A-1" from Standard & Poor's. Initially, the Custodian for Party B is: The Bank of New York.
Eligibility to Hold Posted Collateral. Party A or its Custodian are entitled to hold Posted Collateral pursuant to Paragraph 6(b) in a segregated account provided that the following conditions applicable to them are satisfied:
(1) If Party A is holding the Posted Collateral, Party A is not a Defaulting Party.
(2) Posted Collateral may be held only in the following jurisdictions:the Province of Ontario, the Province of Quebec, or other jurisdictions as agreed from time to time by the parties.
(3) The Custodian is a domestic office of, or Party A is, a bank or trust company organized under the laws of the United States or Canada or a political subdivision thereof (in the case of a Custodian) or the laws of Canada (in the case of Party A) having assets of at least $10 Billion and a long term debt or deposit rating of a least “A2” from Mxxxx’x or “A” from S&P. Initially, the Custodian for Party A is: none
Eligibility to Hold Posted Collateral. Custodians. Party B (or any Custodian) will be entitled to hold Posted Collateral pursuant to Paragraph 6(b) so long as Party B (or any Custodian) is a financial institution located in the United States having total assets of at least $250,000,000 and (i) a short term unsecured and unsubordinated debt or counterparty rating of “Prime-1” from Xxxxx’x and (ii) a short-term unsecured and unsubordinated debt rating from S&P of “A-1” or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating from S&P of “A+”. In the event that Party B (or any Custodian) no longer satisfies the credit ratings of S&P set forth in clause (ii) above, Party B shall cause any Posted Collateral to be moved to another financial institution satisfying such credit ratings in clause (ii) above within 60 calendar days. Initially, the Custodian for Party B is: The Bank of New York.
Eligibility to Hold Posted Collateral. Party A shall hold all Posted Collateral with [The Bank of New York Mellon] in the Counterparty Collateral Account (as defined in the Series MSA Supplement, dated [—], between Equinox Trust, as Trust, Equinox Group Distributors, LLC, as Depositor, Equinox Institutional Asset Management, LP, as Evaluator and Supervisor, and The Bank of New York Mellon, as Custodian, Transfer Agent and Administrator (the “Series MSA Supplement”)). Party B shall hold all Posted Collateral with The Bank of New York Mellon in the Trust Collateral Account (as such term is defined in the Series MSA Supplement)
Eligibility to Hold Posted Collateral. Custodians. Party B (or any Custodian) will be entitled to hold Posted Collateral pursuant to Paragraph 6(b). Party B may appoint as Custodian (A) the entity then serving as Supplemental Interest Trustee or (B) any entity other than the entity then serving as Supplemental Interest Trustee if such other entity (or, to the extent applicable, its parent company or credit support provider) shall then have a short-term unsecured and unsubordinated debt rating from S&P of at least "A-1." Initially, the Custodian for Party B is: The Supplemental Interest Trust Trustee.
Eligibility to Hold Posted Collateral. Custodians. Counterparty and its Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:
(1) Counterparty is not a Defaulting Party; and
(2) Posted Collateral may be held only in the following jurisdictions: New York State or such other state in the United States in which the Counterparty is located; and
(3) the account is segregated from all other accounts held by the Counterparty and its Custodian.
(4) Party B may appoint as Custodian (A) the entity then serving as Indenture Trustee under the Indenture or (B) any other entity if such entity (or, to the extent applicable, the parent company or credit support provider) shall have a long-term senior unsecured debt rating by S&P of at least “A” or a short-term senior unsecured debt rating of at least “A-1” by S&P. If a Custodian ceases to have the required ratings then a replacement Custodian satisfying the ratings requirements must be in place within 60 calendar days of the date on which the original Custodian ceased to satisfy the ratings requirements. Initially, the Custodian for Counterparty is: None
Eligibility to Hold Posted Collateral. Custodian.
(1) Posted Collateral may be held only in the following jurisdictions: the United States of America; and
(2) Posted Collateral shall at all times be held (A) in a segregated trust account at the entity then serving as Indenture Trustee or (B) any entity other than the entity then serving as the Indenture Trustee if such other entity (or, to the extent applicable, its parent company or credit support provider) shall then have a shortterm unsecured and unsubordinated debt rating from S&P of at least “A1.” Initially, the Custodian for the Trust is the Indenture Trustee.
Eligibility to Hold Posted Collateral. Custodians. Party B or its Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:
(A) In the event that Party B holds Posted Collateral, Party B is not a Defaulting Party or an Affected Party under an Additional Termination Event.
(B) Posted Collateral may be held only in the following jurisdiction: New York and Minnesota.
(C) In the event that the Custodian holds Posted Collateral, the long-term unsubordinated unsecured debt of the Custodian is rated at least A+ by Standard & Poors, a division of The XxXxxx-Xxxx Companies, Inc. (or any successor thereto) and at least A1 by Xxxxx'x Investors Service, Inc. (or any successor thereto). Initially, the Custodian for Party B is Xxxxx Fargo Bank, N.A.
