Common use of Eligible Deposit Account Clause in Contracts

Eligible Deposit Account. Either (i) a segregated trust account with the trust department of a depository institution organized under the laws of the United States of America or any State thereof or the District of Columbia (or any domestic branch of a foreign bank), having a long-term deposit rating of at least Baa3 by Xxxxx’x, having trust powers and acting as trustee for funds deposited in such account, or (ii) a segregated deposit account with a depository institution organized under the laws of the United States of America or any State thereof (or any domestic branch of a foreign bank) the long-term deposit obligations of which are rated A3 or higher by Xxxxx’x and the short-term debt obligations of which are rated “A-1” by S&P and “P-1” by Xxxxx’x.

Eligible Deposit Account. Either (i) a segregated trust account with the trust department of a depository institution organized under the laws of the United States of America or any State thereof or the District of Columbia (or any domestic branch of a foreign bank), having a long-term deposit rating of at least Baa3 by Xxxxx’xMoody’s, having trust powers and acting as trustee for funds deposited in such account, or (ii) a segregated deposit account with a depository institution organized under the laws of the United States of America or any State thereof (or any domestic branch of a foreign bank) the long-term deposit obligations of which are rated A3 or higher by Xxxxx’x Moody’s and the short-term debt obligations of which are rated “A-1” by S&P and “P-1” by Xxxxx’xMoody’s.