Status of Successor Collateral Agent. Every successor Collateral Agent appointed pursuant to this Section 9 shall be a financial institution, including for purposes of Section 1.1441-1 of the Treasury Regulations, in good standing and having power to act as Collateral Agent hereunder, organized under the laws of the United States of America or any State thereof or the District of Columbia and shall have such level of experience and capabilities and also have capital, surplus and undivided profits of not less than $250,000,000 or such other amount of capital, surplus or profits as the Controlling Party shall deem acceptable in its sole discretion.
Appears in 6 contracts
Samples: Loan Agreement, Guarantee and Security Agreement (Nuveen Mortgage Opportunity Term Fund 2), Guarantee and Security Agreement (Nuveen Mortgage Opportunity Term Fund 2)
