Qualification of Trustee. The Trustee and any successor trustee shall be a corporation organized under laws of the United States, or any state thereof, which is authorized under such laws to exercise trust powers and has at all times an aggregate capital, surplus and undivided profits of not less than $5,000,000.
Qualification of Trustee. Except as otherwise provided in this Agreement, each Trustee under this Agreement shall at all times be (a) a bank or trust company organized under the laws of the United States or one of the fifty states of the United States or the District of Columbia, with capital and surplus of at least $50,000,000, and (b) in the case of the Delaware Trustee only, have a principal place of business, or shall have appointed an agent with a principal place of business, in the State of Delaware. Any Trustee need not meet the qualifications set forth in clause (a) above if such Trustee has appointed a Trust Agent that meets such qualifications.
Qualification of Trustee. 15 Section 6.3. Resignation or Removal of Trustees...............................................15 Section 6.4. Successor Trustee................................................................16 Section 6.5. Merger or Consolidation of Trustees..............................................16 Section 6.6. Appointment of Co-Trustee, Separate Trustee, or Nominee..........................17 Section 6.7. Representations and Warranties of Trustees.......................................18 Section 6.8. Trustee's Fees and Expenses......................................................19 TABLE OF CONTENTS (continued) PAGE Section 6.9. No Petition......................................................................19
Qualification of Trustee. Any Trustee will at all times (i) be a trust company or a banking corporation under the laws of its state of incorporation or a national banking association, having all corporate powers and all material governmental licenses, authorizations, consents and approvals required to carry on a trust business in the State of Delaware, (ii) comply with Section 3807 (and any other applicable Section) of the Delaware Code relating to the treatment of Delaware Business Trusts (Title 00, Xxxxxxx 00), (xxx) have a combined capital and surplus of not less than $50,000,000 (or have its obligations and liabilities irrevocably and unconditionally guaranteed by an affiliated Person having a combined capital and surplus of at least $50,000,000) and (iv) be rated at least BBB- by Standard & Poor's.
Qualification of Trustee. The Trustee shall be a corporation organized and doing business under the laws of the United States or any state thereof which is authorized under such laws to exercise corporate trust powers and having at all times an aggregate capital, surplus, and undivided profits of not less than $5,O0O,000.
Qualification of Trustee. (a) Except as otherwise provided in this Agreement, the Trustee shall at all times be (i) a corporation organized under the laws of the United States or any State (which corporation shall not be a Beneficiary or any Affiliate thereof), (ii) qualified to do business in the States requested in writing by the Servicer and (iii) otherwise acceptable to each Rating Agency.
(b) In the event the Trustee complies with Section 5.07
(a) but has its principal place of business outside of the State of Delaware, then there shall at all times be a co-trustee appointed to act as the Delaware Trustee pursuant to Section 3807 of the Delaware Act. The Delaware Trustee shall serve as such for the sole purpose of satisfying the requirement of Section 3807 of the Delaware Act that the Trust have at least one trustee with a principal place of business in Delaware. It is understood and agreed by the parties hereto and the Holders that the Delaware Trustee shall have none of the duties or Liabilities of the Trustee. The duties of the Delaware Trustee shall be limited to (i) accepting legal process served on the Trust in the State of Delaware and (ii) the execution of any certificates required to be filed with the Delaware Secretary of State which the Delaware Trustee is required to execute under Section 3811 of the Delaware Act. To the extent that, at law or in equity, the Delaware Trustee has duties (including fiduciary duties) or Liabilities relating thereto to the Trust or the Holders, it is hereby understood and agreed by the parties hereto and the Holders that such duties and Liabilities are replaced by the duties and Liabilities of the Delaware Trustee expressly set forth in this Agreement.
Qualification of Trustee. 17 Section 5.08. Resignation or Removal of Trustee................................ 17 Section 5.09.
Qualification of Trustee. The Trustee is subject to Section 310(b) of the Trust Indenture Act of 1939 regarding disqualification of a trustee upon acquiring any conflicting interest. In determining whether the Trustee has a conflicting interest within the meaning of the Trust Indenture Act with respect to Securities of any series, there shall be excluded this Indenture with respect to Securities of any series other than such series.
Qualification of Trustee. 21 SECTION 8.04. Co-trustees and Separate Trustees..........................21
Qualification of Trustee. Except as otherwise provided in this Agreement, each Trustee under this Agreement (with the exception of VMS as the initial UTI Trustee) shall at all times be (a) a bank or trust company organized under the laws of the United States or one of the fifty states of the United States or the District of Columbia, with capital and surplus of at least $100,000,000, and (b) in the case of the Delaware Trustee only, have a principal place of business, or shall have appointed an agent with a principal place of business, in the State of Delaware. Any Trustee need not meet the qualifications set forth in clause (a) above if such Trustee has appointed a Trust Agent that meets such qualifications.
