Eligibility Requirements for Custodian. The Custodian hereunder shall at all times be a Schedule I chartered bank or a trust company or insurance company organized and doing business under the laws of Canada or any province thereof and, in each case, authorized under applicable law to exercise corporate trust powers, (i) having a combined capital and surplus of at least $50,000,000 and having received an investment grade rating from each of the Rating Agencies and be subject to supervision or examination by federal or provincial authorities; or (ii) satisfies the Rating Agency Condition. If such corporation publishes reports of condition at least annually, pursuant to applicable law or to the requirements of the aforesaid supervising or examining authorities, then, for the purpose of this Section 11.5, the combined capital and surplus of such 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 Custodian shall cease to be eligible in accordance with the provisions of this Section 11.5, the Custodian shall resign immediately in the manner and with the effect specified in Section 11.6.
Eligibility Requirements for Custodian. The Custodian hereunder shall at all times be a Schedule I chartered bank or a trust company or insurance company organized and doing business under the laws of Canada or any province thereof and, in each case, authorized under applicable law to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and having received an investment grade rating from the Rating Agencies, be subject to supervision or examination by federal or provincial authorities or otherwise satisfy the Rating Agency Condition and otherwise be satisfactory the Co- Owners and, if applicable, any Credit Enhancement Providers. If such corporation publishes reports of its financial condition at least annually, pursuant to applicable law or to the requirements of the aforesaid supervising or examining authorities, then, for the purpose of this Section 9.04, the combined capital and surplus of such 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 Custodian shall cease to be eligible in accordance with the provisions of this Section 9.04, the Custodian shall resign immediately in the manner and with the effect specified in Section 9.05.
Eligibility Requirements for Custodian. The Custodian hereunder shall at all times be a corporation or association organized and doing business under the laws of any state of the United States of America, authorized under such laws to exercise and to accept the powers conferred under this Agreement, having a combined capital and surplus of at least $50,000,000 and a rating on its unsecured long-term debt of at least "BBB" (or its equivalent rating) by each Applicable Rating Agency (or "AA" (or its equivalent rating) at any time when there is no Fiscal Agent appointed and acting hereunder or any such Fiscal Agent so appointed has a rating on its long-term unsecured debt that is lower than "AA" (without regard to any plus or minus) by each Applicable Rating Agency). If a corporation or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for purposes of this Section the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.
Eligibility Requirements for Custodian. 65 11.7 Resignation and Removal of Custodian .............................. 66 11.8
Eligibility Requirements for Custodian. The Custodian hereunder shall at all times be a trust company organized under the laws of Canada or any province of Canada and duly authorized and licensed to carry on business in all of the Provinces and Territories of Canada, having a combined capital and surplus of at least $10,000,000.00 and subject to supervision by the Office of the Superintendent of Financial Institutions or comparable provincial regulatory authority. If such company files reports at least
Eligibility Requirements for Custodian. 108 11.8. Resignation or Removal of Custodian..........................109 11.9. Successor Custodian..........................................109 11.10. Merger or Consolidation of Custodian.........................110 11.11. Co-Custodian.................................................110 Section Page ------- ----
Eligibility Requirements for Custodian. The Custodian under this Agreement shall at all times be 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 a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by Federal or State authorities; and having a rating, both with respect to long-term and short-term unsecured obligations, of not less than investment grade by the Rating Agencies. If such corporation shall publish reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purpose of this Section 11.7, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Custodian shall cease to be eligible in accordance with the provisions of this Section 11.7, the Custodian shall resign immediately in the manner and with the effect specified in Section 11.8.
Eligibility Requirements for Custodian. The Custodian hereunder shall at all times be a trust company, Schedule I chartered bank or insurance company organized and doing business under the laws of Canada or any Province thereof authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or provincial authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, for the purpose of this Section 11.06, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Custodian shall cease to be eligible in accordance with the provisions of this Section 11.06, the Custodian shall resign immediately in the manner and with the effect specified in Section 11.07.
