Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the applicable Rating Agencies.
Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority or (ii) an institution whose long-term senior unsecured debt is rated in either of the then in effect top three rating categories of each of the applicable Rating Agencies (or, if not rated by an applicable Rating Agency, an equivalent (or higher) rating from any two of Fitch, Xxxxx’x and S&P).
Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the Xxxxxx Xxxxxx xx Xxxxxxx, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the applicable Rating Agencies (or, if not rated by an applicable Rating Agency, an equivalent (or higher) rating from any two of Fitch, Xxxxx’x and S&P).
Examples of Qualified Trustee in a sentence
The obligations of the Qualified Trustee hereunder shall continue in effect until the security interest of the Department in the Securities Account has been terminated pursuant to the terms of the Security Agreement and the Department has notified the Qualified Trustee of such termination in writing.
Except for the claims and interest of the Department or the Administrator and of the Depository in the Securities Account, the Qualified Trustee does not know of any claim to, or interest in, the Securities Account or in any "financial asset," as defined in UCC § 8-102(a)(1), credited thereto.
The Chairman shall at all times be a Trustee who meets all applicable regulatory and other relevant requirements for serving in such capacity (a "Qualified Trustee").
The FHA Qualified Trustee may also consult with counsel (who may be counsel for the Liquidating Trust Board) with respect to those matters that relate to the FHA Qualified Trustee’s role as the FHA Qualified Trustee of the Liquidating Trust, and the reasonable legal fees incurred in connection with such consultation and any other reasonable out-of-pocket expenses of the FHA Qualified Trustee shall be reimbursed out of the Administrative Expenses Set Aside.
By its execution hereof, the FHA Qualified Trustee accepts the trusteeship of the Liquidating Trust on the terms set forth herein.
More Definitions of Qualified Trustee
Qualified Trustee means a person, other than the transferor, who meets all of the following conditions:
Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt is rated either of the then-in-effect top two rating categories of each of Fitch and S&P or Baa3 by Xxxxx’x.
Qualified Trustee means a person who is not a transferor and to whom both of the following apply:
Qualified Trustee means either:
Qualified Trustee. An institution (i) that is a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or state authority, (ii) that has either (A) a rating on its long term senior unsecured debt of at least “A2” by Xxxxx’x (provided, however, that Wilmington Trust, National Association as the initial trustee will be deemed to have met the eligibility requirements in this clause (ii)(A) for so long as (a) it has a rating on its unsecured long-term debt of at least “Baa3” by Xxxxx’x or a rating on its short-term debt of at least “P-2” by Xxxxx’x, and (b) the Servicer has a rating on its unsecured long-term debt of at least “A2” by Xxxxx’x or a rating on its short-term unsecured debt of at least “P-1” by Xxxxx’x), or (B) a long term counterparty risk assessment of at least “A2(cr)” by Xxxxx’x (or such other rating with respect to which Xxxxx’x has provided a Rating Agency Confirmation), (iii) that has a long term unsecured debt rating of at least “A” by DBRS Morningstar (or such other rating with respect to which DBRS Morningstar has provided a Rating Agency Confirmation) or, if not rated by DBRS Morningstar, at least an equivalent rating by two other NRSROs, (iv) as to which neither Xxxxx’x nor DBRS Morningstar has withdrawn, qualified or downgraded its rating of securities in a commercial mortgage loan securitization as a result of the performance by the Trustee, (v) that is not an Affiliate of the Servicer or the Special Servicer, and (vi) that is not the Third Party Purchaser or a Risk Retention Affiliate of the Third Party Purchaser.
Qualified Trustee. An institution (i) that is a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or state authority, (ii) that is insured by the Federal Deposit Insurance Corporation, (iii) whose long term senior unsecured debt is rated at least “A” by Fitch (or such other rating with respect to which the Rating Agency has provided a Rating Agency Confirmation), (iv) as to which neither Rating Agency has withdrawn, qualified or downgraded its rating of securities in a commercial mortgage loan securitization as a result of the performance by the Trustee and (v) that is not an Affiliate of the Servicer or the Special Servicer.