Common use of Qualified Depository Clause in Contracts

Qualified Depository. (i) A depository, the long-term unsecured debt obligations of which are rated by a nationally recognized statistical rating agency in one of its two highest rating categories at the time of any deposit therein, or (ii) a depository, the deposits of which are fully insured to the maximum extent permitted by the FDIC or (iii) the corporate trust department of a national bank; provided that they maintain a rating by a nationally recognized statistical rating agency in the highest rating categories for short term debt obligations.

Qualified Depository. (i) A depository, the long-term unsecured debt obligations of which are rated by a nationally recognized statistical rating agency in one of its two highest rating categories at the time of any deposit therein, or (ii) a depository, the deposits of which are fully insured to the maximum extent permitted by the FDIC or (iii) the corporate trust department of a national bank; provided that in case of (ii) and (iii) above, they maintain a rating by a nationally recognized statistical rating agency in the highest rating categories for short term debt obligations.

Qualified Depository. A depository institution, (ia) A depository, the long-accounts of which are insured by the FDIC and (b) the short term unsecured debt obligations ratings and the long term deposit ratings of which are rated by a nationally recognized statistical rating agency in one of its the two highest rating categories at by each of the time of any deposit therein, or (ii) a depository, the deposits of which are fully insured to the maximum extent permitted by the FDIC or (iii) the corporate trust department of a national bank; provided that they maintain a rating by a nationally recognized statistical rating agency in the highest rating categories for short term debt obligationsRating Agencies.

Qualified Depository. (i) A depository, the long-term unsecured debt obligations of which are rated by Moody's or S&P (or a nationally recognized statistical comparable rating agency agency) in one of its two highest rating categories at the time of any deposit thereincategories, or (ii) a depository, the deposits of which are fully insured to the maximum extent permitted by the FDIC or (iii) the corporate trust department of a national bank; bank or (iii) a depository which insures the Account and the Escrow Account with insurance provided that they maintain a rating by a nationally recognized statistical rating agency in the highest rating categories for short term debt obligationsFDIC to the full extent allowed by the applicable law.