Qualification of Trustee. The Trustee shall be a corporation organized and doing business under the laws of the United States or any state thereof which is authorized under such laws to exercise corporate trust powers and having at all times an aggregate capital, surplus, and undivided profits of not less than $5,O0O,000.
Appears in 3 contracts
Samples: Trust Indenture and Agreement (National Equity Trust Low Five Portfolio Series 31), Trust Indenture and Agreement (National Equity Tr Short Term Low 5 Cover Write Opt Tr Ser 1), Distribution Agency Agreement (National Equity Trust Otc Growth Trust Series 5)
Qualification of Trustee. The Trustee shall at all times be a corporation bank or trust company organized and doing business under the laws of the United States or any state thereof which is authorized under such laws to exercise corporate trust powers one of the fifty states of the United States or the District of Columbia, with capital and having surplus of at least $50,000,000. The Trustee shall at all times an aggregate capital, surplus, and undivided profits be a Person which is not prohibited under applicable law from acting as a holder or transferee of not less than $5,O0O,000Liens.
Appears in 1 contract
Samples: Boat Mortgage Trust Agreement (Deutsche Recreational Asset Funding Corp)
Qualification of Trustee. The Trustee shall be a corporation organized and doing business under the laws of the United States or any state thereof which is authorized under such laws to exercise corporate trust powers and having at all times an aggregate capital, surplus, and undivided profits of not less than $5,O0O,0005,000,000.
Appears in 1 contract
Samples: Indenture and Agreement (National Equity Tr Short Term Low 5 Cover Write Opt Tr Ser 1)
