Common use of Fiscal Agent Appointed; Concerning the Fiscal Agent Clause in Contracts

Fiscal Agent Appointed; Concerning the Fiscal Agent. (a) The Trustee hereby appoints ABN AMRO Bank, N.V. as the initial Fiscal Agent hereunder for the purposes of exercising and performing the obligations and duties imposed upon the Fiscal Agent hereunder. The Fiscal Agent shall at all times maintain a long-term unsecured debt rating of no less than "AA-" from S&P and "AA-" from Fitch (and if the Fiscal Agent is rated "AA-" by Fitch, a short-term rating of at least "F-1+" in the case of Fitch) (or, in the case of either Rating Agency, such other rating as each such Rating Agency shall permit so long as it is accompanied by a statement in writing that any of the then-current ratings assigned by such Rating Agency to the respective Classes of the Certificates would not be downgraded, qualified (if applicable) or withdrawn as a result of such rating).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass Through Certificates Series 2003-1), Pooling and Servicing Agreement (Banc of America Commercial Mort Pass Through Cert Ser 2002-2)

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Fiscal Agent Appointed; Concerning the Fiscal Agent. (a) The Trustee hereby appoints ABN AMRO Bank, Bank N.V. as the initial Fiscal Agent hereunder for the purposes of exercising and performing the obligations and duties imposed upon the Fiscal Agent hereunder. The Fiscal Agent shall at all times maintain a long-term unsecured debt rating of no less than "AA-Aa3" from S&P Moody's and "AA-" from Fitch (and if the Fiscal Agent is rated "AA-" by Fitch, a short-term rating of at least "F-1+" in the case of Fitch) S&P (or, in the case of either Rating Agency, such other suxx xxxxr rating as each such Rating Agency shall permit so long as it is accompanied by a statement in writing that any of the then-then current ratings assigned by such Rating Agency to the respective Classes of the Certificates would not be downgraded, qualified (if applicable) or withdrawn as a result of such rating).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2005-2)

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Fiscal Agent Appointed; Concerning the Fiscal Agent. (a) The Trustee hereby appoints ABN AMRO Bank, N.V. as the initial Fiscal Agent hereunder for the purposes of exercising and performing the obligations and duties imposed upon the Fiscal Agent hereunder. The Fiscal Agent shall at all times maintain a long-term unsecured debt rating of no less than "AA-" from S&P and "AA-Aa3" from Fitch (and if the Fiscal Agent is rated "AA-" by Fitch, a short-term rating of at least "F-1+" in the case of Fitch) Moody's (or, in the case of either Rating Agency, such other rating as each such xxxx xxch Rating Agency shall permit so long as it is accompanied by a statement in writing that any of the then-current ratings assigned by such Rating Agency to the respective Classes of the Certificates would not be downgraded, qualified (if applicable) or withdrawn as a result of such rating).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Comm Mort Inc Pass Throu Certs Series 2004 2)

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