Qualifications of Tender Agent. The Tender Agent shall be a commercial bank or trust company with trust powers with a principal office, or an affiliate with a principal office, in New York, New York, having a combined capital and surplus of at least $50,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture. The Tender Agent shall be an affiliate of the Trustee (unless the Trustee is the Tender Agent) unless the Trustee has no affiliate meeting the requirements of the first sentence of this Section, in which case the selection of the Tender Agent shall be subject to the approval of the Credit Bank. The Tender Agent initially appointed hereunder, in the event that the Bonds cease to be in a Book-Entry System, is Bankers Trust Company of California, N.A. The Tender Agent may at any time resign and be discharged by giving at least thirty (30) days' notice to the Trustee, the Issuer and the Credit Bank. The Tender Agent may be removed at any time, with the approval of the Credit Bank, by an instrument signed by the Trustee and filed with the Tender Agent, the Remarketing Agent and the Issuer. In the event of the resignation or removal of the Tender Agent, the Tender Agent shall pay over, assign and deliver any moneys and Bonds held by it in such capacity, and shall deliver all books and records relating thereto, to its successor or, if there be no successor, to the Trustee. In the event that the initial Tender Agent shall resign or be removed, or be dissolved, or if the property or affairs of the Tender Agent shall be taken under the control of any state or federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Issuer shall not have appointed its successor as Tender Agent, the Trustee, notwithstanding the provisions of the first paragraph of this Section 9.17, shall be deemed to be the Tender Agent for all purposes of this Indenture until the appointment by the Trustee of the Tender Agent or a successor Tender Agent, as the case may be, notwithstanding the fact that the Trustee may not meet the qualifications set forth in the first paragraph of this Section 9.17. The Tender Agent shall pay to tendering Bondholders the Purchase Price of any Bonds for which it has received a Tender Notice and which have not been remarketed pursuant to Section 3.07 hereof, but solely from amounts received pursuant to a draw under the Letter of Credit; and the Tender Agent shall pay to tendering Bondholders the Purchase Price ...
Qualifications of Tender Agent. (a) The Tender Agent shall be a bank with trust powers or trust company duly organized under the laws of the United States or any state or territory thereof, having a combined capital stock, surplus and undivided profits of at least Fifty Million Dollars ($50,000,000) or that is a wholly-owned subsidiary of such a bank or trust company, and authorized by law to perform all duties imposed upon it by this Indenture and shall be rated at least Baa3/P-3 by Moody's if the Bonds are then rated by Moody's, or has received written evidence from Moody's that the use of such Tender Agent would not result in a reduction or withdrawal of the rating on the Bonds. The Tender Agent may at any time resign and be discharged of its duties and obligations by giving at least sixty (60) days' written notice to the Board, the Trustee, the Remarketing Agent, the Bank, and the Company; provided that such resignation shall not take effect until a successor Tender Agent is appointed and accepts such appointment. Upon the written approval of the Bank, the Tender Agent may be removed at any time by the Company upon written notice to the Board, the Trustee and the Remarketing Agent. Successor Tender Agents may be appointed from time to time by the Company, with the prior written consent of the Bank.
Qualifications of Tender Agent. The Tender Agent shall be an entity which is authorized by law to perform all the duties imposed upon it by this Indenture. The Tender Agent may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least sixty (60) days’ notice to the Issuer, the Bank, the Borrower, and the Trustee. The Tender Agent may be removed at any time, at the direction of the Borrower, with the prior written consent of the Bank, by an instrument, signed by the Issuer, filed with the Tender Agent, the Bank, the Remarketing Agent and the Trustee. In the event of the resignation or removal of the Tender Agent, the Tender Agent shall pay over, assign and deliver any moneys and Bonds held by it in such capacity to its successor or, if there be no successor, to the Trustee. In the event that the Issuer shall fail to appoint a Tender Agent hereunder, or in the event that the Tender Agent shall resign or be removed, or be dissolved, or if the property or affairs of the Tender Agent shall be taken under the control of any state or Federal court or administrative body because of bankruptcy or insolvency, or for any other reason, and the Issuer shall not have appointed its successor as Tender Agent, the Borrower, with the consent of the Bank shall appoint a successor Tender Agent and until a successor Tender Agent is appointed the Trustee but only upon its receipt of actual notice of such resignation, removal or dissolution shall ipso facto be deemed to be the Tender Agent for all purposes of this Indenture.
Qualifications of Tender Agent. (A) The Tender Agent shall be a corporation duly organized under the laws of the United States of America or any state or territory thereof, and, if the Bonds are rated by Moody's and, if not a bank or trust company, rated at least Baa3/P3 or otherwise qualified by Moody's, having a combined capital and surplus of at least $20,000,000 (or a combined capital and surplus in excess of $3,500,000 and the obligations of which, whether now in existence or hereafter incurred, are fully guaranteed by a corporation organized and doing business under the laws of the United States, and State or Territory thereof or of the District of Columbia, that has a combined capital and surplus of at least $50,000,000) and authorized by law to perform all the duties imposed upon it by this Indenture.
Qualifications of Tender Agent. (a) The Tender Agent shall be a bank, shall have a capitalization of at least $25,000,000 and shall be authorized by law to perform all the duties imposed upon it by this Indenture. The Tender Agent may at any time resign and be discharged of its duties hereunder by giving at least sixty (60) calendar days' notice to the Issuer, the Letter of Credit Provider, the Lessee, the Remarketing Agent, the Trustee and the Owners. The Tender Agent may be removed at any time by an instrument signed by the Lessee and reasonably approved by the Letter of Credit Provider and filed with the Issuer, the Remarketing Agent, the Letter of Credit Provider, the Trustee and the Owners; provided that neither such resignation nor such removal shall be effective unless and until a successor Tender Agent has been appointed by the Lessee and reasonably approved by the Letter of Credit Provider.
Qualifications of Tender Agent. 57 Section 9.09 .......
Qualifications of Tender Agent. (a) The Tender Agent shall be a bank or trust company duly organized under the laws of the United States of America or any state or territory thereof, having a combined capital stock, surplus and undivided profits of at least Fifty Million Dollars ($50,000,000) or that is a wholly-owned subsidiary of such a bank or trust company, and authorized by law to perform all duties imposed upon it by this Indenture and shall be rated, or its main banking affiliate or parent entity shall be rated, at least Baa3/P-3 by Moody's if the Bonds are then rated by Moody's, or has received written evidence from Moody's that the use of such Tender Agent would not result in a reduction or withdrawal of the rating on the Bonds. The Tender Agent may at any time resign and be discharged of its duties and obligations by giving at least sixty (60) days' notice to the Authority, the Trustee, the Remarketing Agent, the Bank, and the Company; provided that such resignation shall not take effect until the appointment of a successor Tender Agent, and in accordance with the provisions hereof. Upon the written approval of the Bank, the Tender Agent may be removed at any time by the Company upon written notice to the Authority, the Trustee and the Remarketing Agent; provided that such removal shall not take effect until the appointment of a successor Tender Agent, and in accordance with the provisions hereof. Successor Tender Agents may be appointed from time to time by the Company, with the prior written consent of the Bank.
Qualifications of Tender Agent. The Tender Agent shall be a commercial bank, a national banking association or trust company with a principal office, or with an affiliate with an office, in New York, New York, having a capitalization of at least $10,000,000 and authorized by law to perform all the duties imposed upon it by this Indenture; provided that, in any event, the Trustee may serve as the Tender Agent so long as the Bonds are in “book-entry-only” form. The Tender Agent shall be an affiliate of the Trustee (unless the Tender Agent is the Trustee), unless the Trustee has no affiliate meeting the requirements of the first sentence of this Section, in which case the selection of the Tender Agent shall be an entity appointed by the Trustee with the written consent of the Credit Facility Provider, the Issuer and the Borrower. The Tender Agent may at any time resign and be discharged by giving at least sixty
Qualifications of Tender Agent. Tender Agent shall be a bank or trust company or another institution having the powers of a trust company, authorized to perform all duties imposed upon it by this Indenture and the Remarketing Agreement, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority. If such bank or trust company or other institution publishes a report of condition at least annually, pursuant to law or to the requirements of any supervising or examining authority above referred to, then for the purpose of this subsection the combined capital and surplus of such bank or trust company or other institution shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. Tender Agent may at any time resign and be discharged of the duties and obligations created by this Indenture by giving at least 60 days’ notice to Borrower, Remarketing Agent and Trustee. With the written consent of Credit Issuer, Tender Agent may be removed at any time by Borrower, by filing an instrument, signed by Borrower, filed with Tender Agent, Remarketing Agent and Trustee. The initial Tender Agent appointed under this Indenture is Manufacturers and Traders Trust Company. Borrower, with the written consent and approval of Credit Issuer, shall appoint a successor Tender Agent and such successor Tender Agent shall evidence its acceptance of such appointment by executing and delivering to Credit Issuer and Borrower a written acceptance thereof. In the event Borrower fails to appoint a successor Tender Agent prior to the effective date of the removal or resignation of the current Tender Agent, the existing Tender Agent shall remain in place until a successor Tender Agent is appointed. If a successor Tender Agent is not appointed within 30 days as provided herein, Trustee shall be appointed as the successor Tender Agent.
Qualifications of Tender Agent
