Eligible Escrow Agent definition
Eligible Escrow Agent means ▇▇▇▇▇ Fargo Bank, N.A., or another escrow agent that has been approved in writing by the Agent.
Eligible Escrow Agent means any escrow agent reasonably acceptable to the Administrative Agent.
Eligible Escrow Agent means Wells Fargo Bank, N.A., or another escrow agent that has been approved in writing by the Agent.
More Definitions of Eligible Escrow Agent
Eligible Escrow Agent means either an attorney licensed to practice law in the Commonwealth of Pennsylvania who is independent of Buyer and Seller and their respective Affiliates or a bank or trust company doing business in the Commonwealth of Pennsylvania. Such amount and any interest earned thereon shall be held by such escrow agent until receipt of a joint direction from Buyer and Seller to disperse any funds or an order from a court of competent jurisdiction directing the escrow agent to disperse such funds. The fees of the escrow agent shall be paid one-half by the Buyer and one-half by the Seller.
Eligible Escrow Agent means ▇▇▇▇▇ Fargo Bank, N.A., or another escrow agent that has been approved in writing by the Agent. “Eligible Escrow Agreement” means (i) the Escrow Agreement dated as of the Closing Date among GWG Life Settlements, ▇▇▇▇▇ Fargo Bank, N.A., as escrow agent, and the Agent, as amended restated, supplemented or otherwise modified from time to time or (ii) another escrow agreement among GWG Life Settlements, an Eligible Escrow Agent and the Agent in form and substance satisfactory to the Agent. “Eligible Hedge Counterparty” means a Hedge Counterparty that (i) has a long-term unsecured, non-credit enhanced debt rating (a “Debt Rating”) from at least two out of the following three rating agencies: ▇▇▇▇▇’▇, Fitch and Standard & Poor’s, or has its obligations under the relevant Hedge Agreement guaranteed by another Person that has such Debt Ratings pursuant to a guaranty in form and substance satisfactory to the Agent, (ii) such Debt Ratings are not less than “A” by Fitch (if rated by Fitch), “A” by Standard & Poor’s (if rated by Standard & Poor’s) and “A2” by Moody’s (if rated by Moody’s) and (iii) has been approved by the Agent as an Eligible Hedge Counterparty hereunder. “Eligible Investments” means any one or more of the following types of investments, excluding any security with the “r” symbol attached to the rating from Standard & Poor’s and all mortgage-backed securities: (a) direct interest-bearing obligations of, and interest-bearing obligations guaranteed as to timely payment of principal and interest by, the United States or any agency or instrumentality of the United States the obligations of which are backed by the full faith and credit of the United States; 9