Common use of Qualified Institution Clause in Contracts

Qualified Institution. A depository institution or trust company organized under the laws of the United States or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), (i) that has either a long-term unsecured debt rating of “A1” or better by Xxxxx’x or a short-term unsecured debt rating or certificate of deposit rating of “P-1” or better by Xxxxx’x, (ii) that has a short-term unsecured debt rating or certificate of deposit rating of “A-1” or better by S&P or, if such entity does not have a short-term unsecured debt rating or certificate of deposit rating from S&P, has a long-term unsecured debt rating of “A+” or better by S&P and (iii) whose deposits are insured by the Federal Deposit Insurance Corporation.

Qualified Institution. A depository institution or trust company organized under the laws of the United States or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), (i) that has either a long-term unsecured debt rating of “A1” or better by Xxxxx’x or Mooxx’x xx a short-term unsecured debt rating or certificate of deposit rating of “P-1” or better by Xxxxx’xMooxx’x, (ii) that has a short-term unsecured debt rating or certificate of deposit rating of “A-1” or better by S&P or, if such entity does not have a short-term unsecured debt rating or certificate of deposit rating from S&P, has a long-term unsecured debt rating of “A+” or better by S&P and (iii) whose deposits are insured by the Federal Deposit Insurance Corporation.

Qualified Institution. A depository institution or trust company organized under the laws of the United States or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), (i) that has either a long-term unsecured debt rating of “A1” or better by Xxxxx’x Moody’s or a short-term unsecured debt rating or certificate of deposit rating of “P-1P‑1” or better by Xxxxx’xMoody’s, (ii) that has a short-term unsecured debt rating or certificate of deposit rating of “A-1A‑1” or better by S&P or, if such entity does not have a short-term unsecured debt rating or certificate of deposit rating from S&P, has a long-term unsecured debt rating of “A+” or better by S&P and (iii) whose deposits are insured by the Federal Deposit Insurance Corporation.