Common use of Qualifications of Successor Trustee Clause in Contracts

Qualifications of Successor Trustee. Every successor Trustee (a) shall be a bank or trust company duly organized under the laws of the United States or any state or territory thereof authorized by law to perform all the duties imposed upon it by this Indenture and (b) shall have (or the parent holding company of which shall have) a combined capital stock, surplus and undivided profits of at least $100,000,000 if there can be located, with reasonable effort, such an institution willing and able to accept the trust on reasonable and customary terms.

Qualifications of Successor Trustee. Every Any successor Trustee (a) shall to the Trustee, however appointed, will be a bank or trust company duly organized under the laws of the United States or any state or territory thereof authorized by law to perform all the duties imposed upon it by this Indenture and (b) shall have (or the parent holding company of which shall have) jurisdiction thereof, having a combined capital stock, and surplus and undivided profits of at least $100,000,000 if there can be located, with reasonable effort, such an institution willing and able to accept perform the trust on duties of the Trustee hereunder upon commercially reasonable and or customary terms.

Qualifications of Successor Trustee. Every successor Trustee (a) appointed pursuant to any of the foregoing provisions shall be a bank or trust company duly organized or a national banking association or state bank with trust powers in good standing located in or incorporated under the laws of the United States State, duly authorized to exercise trust powers and subject to examination by federal or any state or territory thereof authorized by law to perform all the duties imposed upon it by this Indenture and (b) shall have (or the parent holding company of which shall have) a combined capital stockauthority, surplus and undivided profits of at least $100,000,000 and, if there can be locatedsuch a trust company, with reasonable effort, such an institution national banking association or state bank willing and able to accept the trust on reasonable and customary terms, shall have a reported capital and surplus of not less than $100,000,000.