Common use of Corporate Collateral Agent Required; Eligibility Clause in Contracts

Corporate Collateral Agent Required; Eligibility. There shall at all times be a Collateral Agent hereunder which shall be (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of the United States of America or of any State thereof, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least U.S.$200,000,000, subject to supervision or examination by federal or State authority, or (ii) an institution insured by the Federal Deposit Insurance Corporation, that in the case of (i) or (ii), has a long-term unsecured debt rating of at least “A2” by Mxxxx’x; provided, that with respect to the Trustee, it may maintain a long-term unsecured debt rating of at least “Baa1” by Mxxxx’x and a short-term unsecured debt rating of at least “P-2” by Mxxxx’x so long as the Servicer maintains a long-term unsecured debt rating of at least “A2” by Mxxxx’x (the Servicer shall have no obligation to maintain such rating), and having an office within the United States. If such entity publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.17(g), the combined capital and surplus of such entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Collateral Agent shall cease to be eligible in accordance with the provisions of this Section 6.17(g), the Collateral Agent shall resign immediately in the manner and with the effect hereinafter specified in Section 6.17(h).

Corporate Collateral Agent Required; Eligibility. There shall at all times be a The Collateral Agent (including any successor Collateral Agent appointed pursuant to Section 7.5) hereunder which shall be (iA)(i) is a corporation, national bank, national banking association or a banking corporation or trust company, company organized and doing business under the laws of any state or the United States of America or of any State thereofStates, (ii) is authorized under such laws to exercise corporate trust powers, having (iii) has a combined capital and surplus of at least U.S.$200,000,000$200,000,000, (iv) is subject to supervision or examination by federal or State state authority, or (iiv) an institution insured by the Federal Deposit Insurance Corporation, that in the case of (i) or (ii), has a long-term unsecured debt rating of at least “A2” by Mxxxx’x; provided, that with respect to the Trustee, it may maintain a long-term unsecured debt issuer rating of at least “Baa1” (or then-equivalent grade) by Mxxxx’x and a short-term unsecured debt rating of at least “P-2BBB+” (or then-equivalent grade) by Mxxxx’x so long as the Servicer maintains a long-term unsecured debt rating of at least “A2” by Mxxxx’x S&P and (the Servicer shall have no obligation to maintain such rating), and having vi) has an office within the United StatesStates of America or (B) is otherwise acceptable to the Borrower (or the Collateral Manager on its behalf) and the Administrative Agent. If such entity banking association publishes reports of condition at least annually, pursuant to law Applicable Law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.17(g), the 4.4(g) its combined capital and surplus of such entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If In case at any time a Responsible Officer of the Collateral Agent shall cease to be has actual knowledge or receives written notice that the Collateral Agent is no longer eligible in accordance with the provisions of this Section 6.17(g4.4(g), the Collateral Agent shall resign immediately in give prompt notice to the manner Borrower, the Collateral Manager and with the effect hereinafter specified in Section 6.17(h)Lenders that it has ceased to be eligible to be the Collateral Agent.

Corporate Collateral Agent Required; Eligibility. There shall at all times be a The Collateral Agent (including any successor Collateral Agent appointed pursuant to Section 7.5) hereunder which shall be (iA)(i) is a corporation, national bank, national banking association or a banking corporation or trust company, company organized and doing business under the laws of any state or the United States of America or of any State thereofStates, (ii) is authorized under such laws to exercise corporate trust powers, having (iii) has a combined capital and surplus of at least U.S.$200,000,000$200,000,000, (iv) is subject to supervision or examination by federal or State state authority, or (iiv) an institution insured by the Federal Deposit Insurance Corporation, that in the case of (i) or (ii), has a long-term unsecured debt rating of at least “A2” by Mxxxx’x; provided, that with respect to the Trustee, it may maintain a long-term unsecured debt issuer rating of at least “Baa1” (or then-equivalent grade) by Mxxxx’x Moody’s and a short-term unsecured debt rating of at least “P-2BBB+” (or then-equivalent grade) by Mxxxx’x so long as the Servicer maintains a long-term unsecured debt rating of at least “A2” by Mxxxx’x S&P and (the Servicer shall have no obligation to maintain such rating), and having vi) has an office within the United StatesStates of America or (B) is otherwise acceptable to the Borrower (or the Collateral Manager on its behalf) and the Administrative Agent. If such entity banking association publishes reports of condition at least annually, pursuant to law Applicable Law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.17(g), the 4.4(g) its combined capital and surplus of such entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If In case at any time a Responsible Officer of the Collateral Agent shall cease to be has actual knowledge or receives written notice that the Collateral Agent is no longer eligible in accordance with the provisions of this Section 6.17(g4.4(g), the Collateral Agent shall resign immediately in give prompt notice to the manner Borrower, the Collateral Manager and with the effect hereinafter specified in Section 6.17(h)Lenders that it has ceased to be eligible to be the Collateral Agent.

Corporate Collateral Agent Required; Eligibility. There shall at all times be a Collateral Agent hereunder which shall be (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of the United States of America or of any State thereof, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least U.S.$200,000,000, subject to supervision or examination by federal or State authority, or (ii) an institution insured by the Federal Deposit Insurance Corporation, that in the case of (i) or (ii), has a long-term unsecured debt rating of at least “A2” by Mxxxx’x; provided, that with respect to the Trustee, it may maintain a long-term unsecured debt rating of at least “Baa1” by Mxxxx’x and a short-term unsecured debt rating of at least “P-2” by Mxxxx’x so long as the Servicer maintains a long-term unsecured debt rating of at least “A2” by Mxxxx’x (the Servicer shall have no obligation to maintain such rating)Mxxxx’x, and having an office within the United States. If such entity publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 6.17(g), the combined capital and surplus of such entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Collateral Agent shall cease to be eligible in accordance with the provisions of this Section 6.17(g), the Collateral Agent shall resign immediately in the manner and with the effect hereinafter specified in Section 6.17(h).