Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, or (ii) be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) be rated (or have long-term debt rated) "BBB" or better by S&P and "Baa2" by Xxxxx'x; provided, however, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI.
Appears in 7 contracts
Samples: Indenture (Prudential Securities Secured Financing Corp), Execution (American Business Financial Services Inc /De/), Indenture (American Business Financial Services Inc /De/)
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000550,000,000, or (ii) be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) be rated (or have long-long- term debt rated) "“BBB" ” or better by S&P and "“Baa2" ” by Xxxxx'xXxxxx’x; provided, however, that the Indenture Trustee's ’s separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI.
Appears in 5 contracts
Samples: Indenture (Accredited Mortgage Loan Trust 2004-2), Indenture (Accredited Home Lenders Inc Mortgage Loan Trust 2004-1), Indenture (Accredited Mortgage Loan Trust 2003-3)
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, 50,000,000 or (ii) shall be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) shall at all times be rated (or have long-term debt rated) "BBB" " or better by S&P [Rating Agency] and "Baa2" " or better by Xxxxx'x[Rating Agency]; provided, however, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VIArticle.
Appears in 4 contracts
Samples: Indenture (Wachovia Mortgage Loan Trust, LLC), Wachovia Asset Funding Trust, LLC, Indenture (Wachovia Asset Securitization Inc)
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, 50,000,000 or (ii) shall be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) shall at all times be rated (or have long-term debt rated) "BBB" or better by S&P Standard & Poor's and "Baa2" by Xxxxx'xMoody's; provided, however, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VIArticle.
Appears in 3 contracts
Samples: Indenture (Prudential Securities Secured Financing Corp), Prudential Securities Secured Financing Corp, Home Equity Securitization Corp
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, or (ii) be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) be rated (or have long-term debt rated) "BBB" or better by S&P and "Baa2" by Xxxxx'xMoody's; provided, however, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI.
Appears in 3 contracts
Samples: Indenture (Prudential Securities Secured Financing Corp), Indenture (Bear Stearns Asset Backed Securities Inc), Morgan Stanley Abs Capital I Inc
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, 100,000,000 or (ii) shall be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) shall at all times be rated (or have long-term debt rated) "BBB" or better by S&P Standard & Poor's and "Baa2" by Xxxxx'xMoody's; provided, however, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VIArticle.
Appears in 2 contracts
Samples: Indenture (Fund America Investors Corp Ii), Fund America Investors Corp Ii
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000550,000,000, or (ii) be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) be rated (or have long-long- term debt rated) "BBB" or better by S&P and "Baa2" by Xxxxx'xMoody's; provided, however, that the Indenture Trustee's separate capital cxxxxxx and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI.
Appears in 2 contracts
Samples: Indenture (Accred Home LNDRS Inc Ac Mor Ln Tr 2002-1 as Bk Nt Se 2002-1), Indenture (Accredited Home Lenders Accredited Mort Loan Trust 2002-2)
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000550,000,000, or (ii) be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) be rated (or have long-long- term debt rated) "BBB" or better by S&P and "Baa2" by Xxxxx'x; provided, however, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI.
Appears in 1 contract
Samples: Indenture (Accred Home LNDRS Inc Ac Mor Ln Tr 2002-1 as Bk Nt Se 2002-1)
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, 100,000,000 or (ii) shall be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) shall at all times be rated (or have long-term debt rated) "BBB" or better by S&P [Standard & Poor's]and/or [Fitch] [and "Baa2" by Xxxxx'xMoody's]; provided, however, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2)6.08, it shall resign immediately in the manner and with the effect hereinafter specified in this Article VIArticle.
Appears in 1 contract
Samples: Indenture (Southpoint Residential Mortgage Securities Corp)
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000550,000,000, or (ii) be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) be rated (or have long-long- term debt rated) "BBB" or better by S&P and "Baa2" by Xxxxx'xMoody's; provided, however, that the Indenture Trustee's separate xxxxxxte capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI.
Appears in 1 contract
Samples: Indenture (Accredited Home Lenders Accredited Mort Loan Trust 2002-2)
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, 50,000,000 or (ii) shall be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) shall at all times be rated (or have long-term debt rated) "BBB" or better by S&P Standard & Poor's and "Baa2" by Xxxxx'x; providedPROVIDED, howeverHOWEVER, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VIArticle.
Appears in 1 contract
Samples: Indenture (American Residential Eagle Bond Trust 1992-2)
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, or (ii) be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) be rated (or have long-term debt rated) "BBB" or better by S&P and "Baa2" by Xxxxx'x; providedPROVIDED, howeverHOWEVER, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI.
Appears in 1 contract
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, 100,000,000 or (ii) shall be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) shall at all times be rated (or have long-term debt rated) "BBB" or better by S&P [Standard & Poor's][Fitch] and/or [Duff & Xxxxxx] [and "Baa2" by Xxxxx'xMoody's]; provided, however, that the Indenture Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2)6.08, it shall resign immediately in the manner and with the effect hereinafter specified in this Article VIArticle.
Appears in 1 contract
Indenture Trustee's Capital and Surplus. The Indenture Trustee shall at all times (a)(i) have a combined capital and surplus of at least $50,000,000, or (ii) be a member of a bank holding company system, the aggregate combined capital and surplus of which is at least $100,000,000 and (b) be rated (or have long-term debt rated) "BBB" or better by S&P and "Baa2" by Xxxxx'xMoody's; provided, however, that the Indenture Xxxxxxure Trustee's separate capital and surplus shall at all times be at least the amount required by TIA Section 310(a)(2). If the Indenture Trustee publishes annual reports of condition of the type described in TIA Section 310(a)(1), its combined capital and surplus for purposes of this Section 6.08 shall be as set forth in the latest such report. If at any time the Indenture Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08 and TIA Section 310(a)(2), it shall resign immediately in the manner and with the effect hereinafter specified in this Article VI.
Appears in 1 contract
Samples: Subsequent Pledge Agreement (Prudential Securities Secured Financing Corp)