Common use of Status of Successors to Second Priority Collateral Trustee Clause in Contracts

Status of Successors to Second Priority Collateral Trustee. Except as permitted by Section 6.14, every successor to the Second Priority Collateral Trustee appointed pursuant to Section 6.14 shall be a bank or trust company in good standing and having power so to act, incorporated under the laws of the United States or any State thereof or the District of Columbia, and having its principal corporate trust office within the forty-eight contiguous States, and shall also have capital, surplus and undivided profits of not less than $250,000,000.

Status of Successors to Second Priority Collateral Trustee. Except as permitted by Section 6.148.14, every successor to the Second Priority Collateral Trustee appointed pursuant to Section 6.14 8.14 shall be a bank or trust company in good standing and having power so to act, incorporated under the laws of the United States or any State thereof or the District of Columbia, and having its principal corporate trust office within the forty-eight contiguous States, and shall also have capital, surplus and undivided profits of not less than $250,000,000.

Status of Successors to Second Priority Collateral Trustee. Except as permitted by Section 6.147.14, every successor to the Second Priority Collateral Trustee appointed pursuant to Section 6.14 7.14 shall be a bank or trust company in good standing and having power so to act, incorporated under the laws of the United States or any State thereof or the District of Columbia, and having its principal corporate trust office within the forty-eight contiguous States, and shall also have capital, surplus and undivided profits of not less than $250,000,000.