Common use of Eligible Deposit Account Clause in Contracts

Eligible Deposit Account. Either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), acting as trustee for funds deposited in such account, so long as the long-term unsecured debt of such depository institution shall have a credit rating of BBB or better from S&P or such equivalent rating by each Rating Agency which signifies investment grade. Eligible Institution: Either (i) the corporate trust department of the Indenture Trustee, the Grantor Trust Trustee or the Owner Trustee, as applicable, or (ii) a depository institution organized under the laws of the United States of America or any State (or any domestic branch of a foreign bank), (A) which has either (1) a long-term unsecured debt rating of AA or better by S&P, or such other rating that is acceptable to each Rating Agency or (2) a short-term unsecured debt rating or certificate of deposit rating of A-1+ by S&P, or such other rating that is acceptable to each Rating Agency and (B) whose deposits are insured by the FDIC.

Eligible Deposit Account. Either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), acting as trustee for funds deposited in such account, account so long as the long-term unsecured debt of such depository institution shall have a credit rating of BBB or better from S&P or such equivalent rating by each Rating Agency which signifies investment grade. Eligible Institution: Either (i) the corporate trust department of the Indenture Trustee, the Grantor Trust Owner Trustee or the Owner Grantor Trust Trustee, as applicable, or (ii) a depository institution organized under the laws of the United States of America or any State (or any domestic branch of a foreign bank), (A) which has either (1) a long-term unsecured debt rating of AA or better by S&P, or such other rating that is acceptable to each Rating Agency or (2) a short-term unsecured debt rating or certificate of deposit rating of A-1+ by S&P, or such other rating that is acceptable to each Rating Agency and (B) whose deposits are insured by the FDIC.

Eligible Deposit Account. Either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), acting as trustee for funds deposited in such account, so long as the long-term unsecured debt of such depository institution shall have a credit rating of BBB or better from S&P or such equivalent rating by each Rating Agency which signifies investment grade. Eligible Institution: Either (i) the corporate trust department of the Indenture Trustee, the Grantor Trust Trustee or the Owner Trustee, as applicable, or (ii) a depository institution organized under the laws of the United States of America or any State (or any domestic branch of a foreign bank), (A) which has either (1) a long-term unsecured debt rating of AA or better by S&P, or such other rating that is acceptable to each Rating Agency or (2) a short-term unsecured debt rating or certificate of deposit rating of A-1+ by S&P, or such other rating that is acceptable to each Rating Agency and (B) whose deposits are insured by the FDIC.