Location of Liquidation Account and Cash Reserve Account. If at anytime Xxxxxx Trust and Savings Bank is rated below A-1 by S&P or P-1 by Xxxxx’x, the Agent shall promptly establish a new Liquidation Account and a new Cash Reserve Account at a financial institution which is rated at least A-1+ by S&P (or if the financial institution is the Bank of Montreal A-1 by S&P) and P-1 by Xxxxx’x and transfer all amounts on deposit in such accounts at Xxxxxx Trust and Savings Bank to such new accounts at such financial institution, until such time as Xxxxxx Trust and Savings Bank is rated at least A-1 by S&P and P-1 by Xxxxx’x.
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Samples: Receivables Purchase Agreement (KAR Auction Services, Inc.), Receivables Purchase Agreement (KAR Auction Services, Inc.), Receivables Purchase Agreement (KAR Auction Services, Inc.)
Location of Liquidation Account and Cash Reserve Account. If at anytime Xxxxxx Hxxxxx Trust and Savings Bank is rated below A-1 by S&P or P-1 by Xxxxx’xMxxxx’x, the Agent shall promptly establish a new Liquidation Account and a new Cash Reserve Account at a financial institution which is rated at least A-1+ by S&P (or if the financial institution is the Bank of Montreal A-1 by S&P) and P-1 by Xxxxx’x Mxxxx’x and transfer all amounts on deposit in such accounts at Xxxxxx Hxxxxx Trust and Savings Bank to such new accounts at such financial institution, until such time as Xxxxxx Hxxxxx Trust and Savings Bank is rated at least A-1 by S&P and P-1 by Xxxxx’xMxxxx’x.
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