Common use of Corporate Trustee Required; Eligibility Clause in Contracts

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 28 contracts

Samples: Indenture (Chattem Inc), Indenture (Hp Inc), Indenture (Genpact LTD)

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Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person or bank holding company publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or bank holding company 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 22 contracts

Samples: Indenture (Chapman Construction Co., L.P.), Indenture (Energy Conversion Devices Inc), Indenture (SVB Financial Group)

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such such, and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,000100,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under common control with the Company may serve as Trustee. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 10 contracts

Samples: Indenture (Energy Services Puerto Rico LLC), Indenture (Hornbeck Offshore Services LLC), Indenture (Hornbeck Offshore Services LLC)

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company hasshall have) a combined capital and surplus of at least $50,000,000. If any such Person or bank holding company publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or bank holding company 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 8 contracts

Samples: Symantec Corp, Symantec Corp, Indenture (Solectron Corp)

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) a Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers having (or, in the Trust Indenture Act to act as such and has (or if case of the Trustee is a member subsidiary of a bank holding company systemthat guarantees the obligations of the Trustee under this Indenture, its bank such holding company hascompany’s parent shall have) a combined capital and surplus of at least $50,000,00050,000,000 subject to supervision or examination by federal or state authority. If any such Person corporation or holding company parent publishes reports of condition at least annually, pursuant to law or to the requirements of its said supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act6.09, the combined capital and surplus of such Person corporation or holding company parent 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this SectionSection 6.09, it shall resign immediately in the manner and with the effect hereinafter specified in this Articlearticle.

Appears in 8 contracts

Samples: Indenture (Global Indemnity Group, Inc.), Indenture (Global Indemnity Group, Inc.), Xl Group PLC

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) a Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant corporation or association organized and doing business under the laws of the United States of America or of any State authorized under such laws to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company systemexercise corporate trust powers, its bank holding company has) having a combined capital and surplus of at least $50,000,00050,000,000 subject to supervision or examination by the United States of America, or any state, acceptable to the Certificate Insurer and having a deposit rating of at least A- from Standard & Poor's and A2 by Moody's. If any such Person Trustee publishes reports of condition at least annually, pursuant to law or to the requirements of its the aforesaid supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture ActSection, the combined capital and surplus of such Person corporation or association 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall shall, upon the request of the Certificate Insurer, resign immediately in the manner and with the effect hereinafter specified in this Article.Article X.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp), Pooling and Servicing Agreement (Chec Asset Receivables Corp), Pooling and Servicing Agreement (Centex Home Equity Ln Asset Bk Cert Ser 1999-3)

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) a Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers having (or, in the Trust Indenture Act to act as such and has (or if case of the Trustee is a member subsidiary of a bank holding company systemthat guarantees the obligations of the Trustee under this Indenture, its bank such holding company hascompany's parent shall have) a combined capital and surplus of at least $50,000,00050,000,000 subject to supervision or examination by Federal or State authority. If any such Person corporation or holding company parent publishes reports of condition at least annually, pursuant to law or to the requirements of its said supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Actsection, the combined capital and surplus of such Person corporation or holding company parent 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Sectionsection, it shall resign immediately in the manner and with the effect hereinafter specified in this Articlearticle.

Appears in 7 contracts

Samples: Delphi Financial Group Inc/De, Xl Capital LTD, Xl Capital LTD

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) a Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers having (or, in the Trust Indenture Act to act as such and has (or if case of the Trustee is a member subsidiary of a bank holding company systemthat guarantees the obligations of the Trustee under this Indenture, its bank such holding company hascompany's parent shall have) a combined capital and surplus of at least $50,000,00050,000,000 subject to supervision or examination by Federal or State authority. If any such Person corporation or holding company parent publishes reports of condition at least annually, pursuant to law or to the requirements of its said supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture ActSection, the combined capital and surplus of such Person corporation or holding company parent 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 7 contracts

Samples: Indenture (Mediacom Capital Corp), Mediacom Capital Corp, Allied World Assurance Co Holdings LTD

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and such, has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $[50,000,000] and has its Corporate Trust Office in the [Borough of Manhattan, City of New York]. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 4 contracts

Samples: Tortoise Energy Infrastructure Corp, Nuveen Tax Advantaged Total Return Strategy Fund, Tortoise Energy Infrastructure Corp

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee trustee hereunder with respect to the Securities of each series, which may be the Trustee hereunder for Securities of one or more other series. Each Trustee , which shall be a Person that is eligible pursuant to corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws (including the Trust Indenture Act Act) to act as such and has (or if the Trustee is a member of a bank holding company systemexercise corporate trust powers, its bank holding company has) having a combined capital and surplus of at least $50,000,000. If any such Person corporation publishes reports of condition at least annually, pursuant to law or to the requirements of its said supervising or examining authority, then for the purposes of this Section Section, and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person corporation 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 3 contracts

Samples: Platinum Underwriters Holdings LTD, Platinum Underwriters Holdings LTD, Platinum Underwriters Holdings LTD

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) a Trustee hereunder with respect to the Securities of each series, issued hereunder which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall at all times be a corporation organized and doing business under the laws of the United States or any State or Territory thereof or of the District of Columbia, or a corporation or other Person that is eligible pursuant to the Trust Indenture Act permitted to act as trustee by the Commission, authorized under such and has (or if the Trustee is a member of a bank holding company systemlaws to exercise corporate trust powers, its bank holding company has) having a combined capital and surplus of at least $50,000,000100,000,000, and subject to supervision or examination by Federal, State, Territorial, or District of Columbia authority. If any such Person corporation publishes reports of condition at least annually, pursuant to law or to the requirements of its the aforesaid supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, 8.09 the combined capital and surplus of such Person corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If The Company may not, nor may any Affiliate of the Company, serve as Trustee. In case at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this SectionSection 8.09, it the Trustee shall resign immediately in the manner and with the effect hereinafter specified in this ArticleSection 8.10.

Appears in 3 contracts

Samples: Sothebys, Grede LLC, Grede LLC

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be the Trustee hereunder for Securities of one or more other series, and that satisfies the requirements of Sections 310(a)(1), (2) and (5) of the Trust Indenture Act. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 3 contracts

Samples: Kayne Anderson MLP Investment CO, Kayne Anderson MLP Investment CO, Kayne Anderson MLP Investment CO

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and such, has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,00050,000,000 and has its Corporate Trust Office in any major city in the contiguous United States that is acceptable to the Company. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section 609 and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent annual report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this SectionSection 609, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VI.

Appears in 3 contracts

Samples: Indenture (Marvell Technology Group LTD), Marvell Technology Group LTD, Marvell Technology Group LTD

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) a Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers having (or, in the Trust Indenture Act to act as such and has (or if case of the Trustee is a member subsidiary of a bank holding company systemthat guarantees the obligations of the Trustee under this Indenture, its bank such holding company hascompany’s parent shall have) a combined capital and surplus of at least $50,000,00050,000,000 subject to supervision or examination by Federal or State authority. If any such Person corporation or holding company parent publishes reports of condition at least annually, pursuant to law or to the requirements of its said supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act6.09, the combined capital and surplus of such Person corporation or holding company parent 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this SectionSection 6.09, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle Six.

Appears in 3 contracts

Samples: Indenture (Arch Capital Group Ltd.), Arch Capital Group (U.S.) Inc., Arch Capital Group Ltd.

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus (or if or, in the Trustee is case of a member of corporation included in a bank holding company system, its the related bank holding company hasshall have) a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or such bank holding company 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 2 contracts

Samples: Indenture (Pacificare Health Systems Inc /De/), Indenture (Pacifcare Operations Inc)

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) a Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers having (or, in the Trust Indenture Act to act as such and has (or if case of the Trustee is a member subsidiary of a bank holding company systemthat guarantees the obligations of the Trustee under this Indenture, its bank such holding company hascompany's parent shall have) a combined capital and surplus of at least $50,000,00050,000,000 subject to supervision or examination by Federal or State authority. If any such Person corporation or holding company parent publishes reports of condition at least annually, pursuant to law or to the requirements of its said supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Actsection, the combined capital and surplus of such Person corporation or holding company parent 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this SectionSection 609, it shall resign immediately in the manner and with the effect hereinafter specified in this ArticleArticle VI.

Appears in 2 contracts

Samples: Indenture (Nelnet Inc), Nelnet Inc

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member subsidiary of a bank holding company system, its bank holding company hasparent shall have) a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 2 contracts

Samples: Indenture (Cygnus Inc /De/), Cygnus Inc /De/

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Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, then its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person or bank holding company publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or bank holding company shall be deemed to be its combined capital and surplus as set asset forth in its most recent report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 1 contract

Samples: Northfield Laboratories Inc /De/

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member subsidiary of a 47 55 bank holding company system, its bank holding company hasparent shall have) a combined capital and surplus of at least $50,000,000100,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 1 contract

Samples: Indenture (Axys Pharmecueticals Inc)

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member subsidiary of a bank holding company system, its bank holding company hasparent shall have) a combined capital and surplus of at least $50,000,000100,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 1 contract

Samples: Axys Pharmecueticals Inc

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person 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 Trustee with respect to the Securities of any 51 series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 1 contract

Samples: Sun Microsystems Inc

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee trustee hereunder with respect to the Securities of each series, which may be the Trustee hereunder for Securities of one or more other series. Each Trustee Securities, which shall be a Person that is eligible pursuant to corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws (including the Trust Indenture Act Act) to act as such and has (or if the Trustee is a member of a bank holding company systemexercise corporate trust powers, its bank holding company has) having a combined capital and surplus of at least $50,000,000. If any such Person corporation publishes reports of condition at least annually, pursuant to law or to the requirements of its said supervising or examining authority, then for the purposes of this Section Section, and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person corporation 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 1 contract

Samples: Platinum Underwriters Holdings LTD

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person or bank holding company publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or bank holding company 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. The Trustee shall have no responsibility or liability for the action or inaction of a successor trustee.

Appears in 1 contract

Samples: Indenture (Omeros Corp)

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) a Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company systemtogether with its corporate parent, its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 1 contract

Samples: Indenture (Avery Dennison Corporation)

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company hasshall have) a combined capital and surplus of at least $50,000,000150,000,000. If any such Person or bank holding company publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or bank holding company 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 1 contract

Samples: Intuit Inc

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person or bank holding company publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or bank holding company 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.. <

Appears in 1 contract

Samples: Sigma Designs Inc

Corporate Trustee Required; Eligibility. There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may also be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has (or if the Trustee is a member of a bank holding company system, its bank holding company has) a combined capital and surplus of at least $50,000,000. If any such Person or bank holding company publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person or bank holding company 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 Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Appears in 1 contract

Samples: Waddell & Reed Financial Inc

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