Holding and Using Posted Collateral. (i) Eligibility to Hold Posted Collateral; Custodians. Counterparty and its Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:
(1) Counterparty is not a Defaulting Party; and
(2) Posted Collateral may be held only in the following jurisdictions: New York State or such other state in the United States in which the Counterparty is located; and
(3) the account is segregated from all other accounts held by the Counterparty and its Custodian.
(4) Party B may appoint as Custodian (A) the entity then serving as Trustee under the Pooling Agreement or (B) any other entity if such entity (or, to the extent applicable, the parent company or credit support provider) shall have a long-term senior unsecured debt rating by S&P of at least “A” or a short-term senior unsecured debt rating of at least “A-1” by S&P. Initially, the Custodian for Counterparty is: None
Holding and Using Posted Collateral. Eligibility to Hold Posted Collateral; Custodians. Party B is not and will not be entitled to hold Posted Collateral. Party B's Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that initially, the Custodian for Party B is Wells Fargo Bank, National Association, not in its individuxx xxpacity, but solely as Administrator.
Holding and Using Posted Collateral. ELIGIBILITY TO HOLD POSTED COLLATERAL; CUSTODIANS. The Secured Party will not be entitled to hold Posted Collateral itself, but will hold Posted Collateral in an identifiable segregated account through a Custodian (which may be the Supplemental Interest Trust Trustee and which shall at all times be a financial institution as specified in the Pooling and Servicing Agreement). If not so specified, the Custodian shall be a commercial bank or trust company which is unaffiliated with Party B organized under the laws of the United States or any state thereof, having assets of at least $10 billion and a long term debt or a deposit rating of at least Baa2 from Moody's and A from S&P. For so long as the Certificates are rated by S&P, any Custodian other than the Supplemental Interest Trust Trustee shall have a short-term debt or deposit rating of at least A-1, or, if it has no short-term rating, a long-term debt or deposit rating of at least A+, from S&P and shall be replaced by the Trustee within sixty (60) calendar days after it ceases to have such ratings. Initially, the Custodian for Party B is: LaSalle Bank National Association
Holding and Using Posted Collateral. (i) Eligibility to Hold Posted Collateral; Custodians. Party B and its Custodian will be entitled to hold Posted Collateral, as applicable, pursuant to Paragraph 6(b); provided that the following conditions applicable to each party are satisfied:
(A) Party B, as the Secured Party, is not a Defaulting Party.
(B) Party B hereby covenants and agrees that it will, subject to Paragraph 13(n)(xi), cause all Posted Collateral received from the other party to be entered in an Eligible Deposit Account with an Eligible Institution (as such terms are defined in Part I of Appendix A to the Trust Sale and Servicing Agreement) having a short-term unsecured debt rating of at least “A-1” by S&P and assets of at least $10 billion, which account shall bear a title indicating the Secured Party’s interest in said account and the Posted Collateral in such account. If otherwise qualified, the Secured Party or its Custodian may act as an Eligible Institution and may move such Eligible Deposit Account from one Eligible Institution to another upon reasonable notice to the Pledgor. The Secured Party or its Custodian shall cause notices or statements concerning the Posted Collateral transferred or delivered by the Pledgor to be sent to the Pledgor on request, which may not be made more frequently than once in each calendar month. In the event any Posted Collateral is held in an Eligible Deposit Account with an entity that not longer satisfies the requirements of an Eligible Institution or ceases to meet otherwise the requirements set forth in the first sentence of this Paragraph 13(g)(i)(B) (the “Custodian Ineligibility Event”), Party B hereby covenants and agrees that it will cause all such Posted Collateral to be entered in an Eligible Deposit Account with another entity that meets the requirements of an Eligible Institution and the requirements set forth in the first sentence of this Paragraph 13(g)(i)(B) within 60 days of the occurrence of the Custodian Ineligibility Event. Initially, the Custodian for Party B is: The Bank of New York Trust Company, N.A., as Indenture Trustee.
Holding and Using Posted Collateral. (i) ELIGIBILITY TO HOLD POSTED COLLATERAL; CUSTODIANS. Party B (or any Custodian) will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:
(1) The Custodian is a bank or trust company located in the United States having total assets of at least $100,000,000 and a long term unsecured debt rating of at least "A+" and a short term unsecured debt rating of at least "A-1" from S&P and a long term unsecured debt rating of at least "Aa3" from Moody's. Initiallx, xxx Custodian for Party B is: LaSalle Bank National Association.
Holding and Using Posted Collateral. ELIGIBILITY TO HOLD POSTED COLLATERAL; CUSTODIANS. Party B or its Custodian will be entitled to hold Posted Collateral pursuant to Paragraph 6(b); provided that the following conditions applicable to it are satisfied:
Holding and Using Posted Collateral. (i) ELIGIBILITY TO HOLD POSTED COLLATERAL; CUSTODIANS. Secured Party will not be entitled to hold Posted Collateral itself, and instead the Secured Party will be entitled to hold Posted Collateral through a Custodian pursuant to Paragraph 6(b), provided that (1) Posted Collateral may be held only in New York City or an alternative jurisdiction within the United States acceptable to Party A, and (2) the Custodian shall at all times be a bank or trust company with total assets in excess of $10 billion and having a rating assigned to its unsecured and unsubordinated long-term debt or deposit obligations of at least BBB+ from S&P and Baa1 from Xxxxx'x. Initially the Custodian will be JPMorgan Chase Bank, N.A.
Holding and Using Posted Collateral. (a) Care Posted Collateral Without limiting the Secured Parties rights under Paragraph 6(c), the Secured Party will exercise reasonable care to assure the safe custody of all Posted Collateral to the extent required by applicable law, and in any event the secured Party will be deemed to have exercised reasonable care if it exercises at least the same degree of care as it would exercise with respect to its own property. Except as specified in the preceding sentence, the Secured Party will have no duty with respect to Posted Collateral, including, without limitation, any duty to collect any Distributions, or enforce or preserve any rights pertaining thereto.
Holding and Using Posted Collateral. Eligibility to Hold Posted Collateral; Custodians. Party B and its Custodian will be entitled to hold Posted Collateral, as applicable, pursuant to Paragraph 6(b); provided that the following conditions applicable to each party are satisfied:
Holding and Using Posted Collateral. ELIGIBILITY TO HOLD POSTED COLLATERAL; CUSTODIANS. The Secured Party will not be entitled to hold Posted Collateral itself. The Secured Party will hold Posted Collateral through a Custodian (which may be the Trustee and which shall at all times be a financial institution as specified under the Pooling and Servicing Agreement or, if not so specified, which shall be a commercial bank or trust company which is unaffiliated with Party B organized under the laws of the United States or any state thereof, having assets of at least $10 billion and a long term debt or a deposit rating of at least (i) Baa2 from Moody's and (ii) "A-1" or "A" from S&P in the Swap Collateral Account (defined below). Initially, the Custodian for Party B is: Xxxxx Fargo Bank, N.A.
