Eligibility to Hold Posted Collateral; Custodian. Party B 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:
Eligibility to Hold Posted Collateral; Custodian. Party B 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:
(A) Party B is not a Defaulting Party.
(B) Posted Collateral may be held only in the following jurisdictions: the United States of America.
(C) Party B's Custodian (or its parent) shall have a Long Term Rating by S&P of at least "A" and a Short Term Rating by S&P of at least "A-1" by S&P. Initially, the Custodian for Party B is the Trustee.
Eligibility to Hold Posted Collateral; Custodian. The Trust 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) Posted Collateral other than Eligible Euro-Area Agency Paper or Eligible Euro-Area Government Paper may be held only in the following jurisdictions: the United States of America;
(2) Posted Collateral other than Eligible Euro-Area Agency Paper or Eligible Euro-Area Government Paper shall at all times be held (A) in a segregated trust account at an 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 short-term unsecured and unsubordinated debt rating from S&P of at least “A-1.”; and
(3) Posted Collateral consisting of Eligible Euro-Area Agency Paper or Eligible Euro-Area Government Paper may be held only in the following jurisdictions and subject to Rating Agency Condition: Brussels, Belgium. Initially, the Custodian for the Trust is The Bank of New York, for the benefit of Chase Bank USA, National Association, as Eligible Lender Trustee for the SLM Student Loan Trust 2007-4.
Eligibility to Hold Posted Collateral; Custodian. The Trust 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) Posted Collateral may be held only in the following jurisdictions: the United States of America.
(2) Posted Collateral shall at all times be held in a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the States or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution have a credit rating from Xxxxx’x, S&P, and, if such institution is rated by Fitch, Fitch, in one of their generic rating categories which signifies investment grade. Initially, the Custodian for the Trust is The Bank of New York, for the benefit of Chase Bank USA, National Association, as Trustee for the SLM Private Credit Student Loan Trust 2006-A.
Eligibility to Hold Posted Collateral; Custodian. Party B 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:
(A) If Party B is a Defaulting Party, it may not hold Posted Collateral, but Posted Collateral may still be held by Party B's Custodian in accordance with the terms of the Indenture.
(B) Posted Collateral may be held only in the following jurisdictions: the United States of America. Initially, the Custodian for Party B is the Trustee.
Eligibility to Hold Posted Collateral; Custodian. Party B 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:
(A) Party B is not a Defaulting Party.
(B) Posted Collateral may be held only in the following jurisdictions: the United States of America.
(C) Party B's Custodian (or its parent) shall have a Long Term Rating by S&P of at least "A" and a Short Term Rating by S&P of at least "A-1" by S&P.
(D) Posted Collateral may be held only in a segregated trust account. Initially, the Custodian for Party B is the Securities Administrator.
Eligibility to Hold Posted Collateral; Custodian. Party A 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) Party A is not a Defaulting Party.
(2) Posted Collateral is held only in the State of New York. Initially, the Custodian for Party A is: Jefferies & Co., Inc. Party B 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) Party B is not a Defaulting Party.
(2) Posted Collateral is held only in the States of New York.
(3) The long-term unsecured debt of such Custodian is rated at least in the “A” category by Standard & Poor’s Rating Group, a division of McGraw Hill Companies, Inc. or Xxxxx’x Investor Services, Inc. Initially, the Custodian for Party B is U. S. Bank, N.A. .
Eligibility to Hold Posted Collateral; Custodian. The Trust 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) 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 short-term unsecured and unsubordinated debt rating from S&P of at least “A-1.” Initially, the Custodian for the Trust is the Indenture Trustee.
Eligibility to Hold Posted Collateral; Custodian. The Trust 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:
Eligibility to Hold Posted Collateral; Custodian. The Trust’s Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:
(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 in a segregated account (i) with the corporate trust department of the entity serving as the Indenture Trustee or (ii) a depository institution organized under the laws of the United States of America or any one of the States or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers which is unaffiliated with the Trust having assets of at least $500 million and a long term debt or a deposit rating of at least (i) Baa2 from Xxxxx’x and (ii) A-1 from S&P, or is the Indenture Trustee, and a short term rating from Fitch of at least “F1”. If the Custodian is a party other than the Indenture Trustee and ceases to meet the requirements set forth in clause (i)(2) above, the Indenture Trustee shall replace such Custodian within 60 calendar days from the time such Custodian failed to be so eligible Initially, the Custodian for the Trust is Deutsche Bank Trust Company Americas, for the benefit of The Bank of New York Trust Company, N.A., in its capacity as Eligible Lender Trustee for the SLM Student Loan Trust 2007-6.
