Qualified Depository. A deposit account or accounts maintained with a federal or state chartered depository institution the deposits in which are insured by the FDIC to the applicable limits and the short-term unsecured debt obligations of which (or, in the case of a depository institution that is a subsidiary of a holding company, the short-term unsecured debt obligations of such holding company) are rated A-1 by Standard & Poor’s Ratings Group or Prime-1 by Xxxxx’x Investors Service, Inc. (or a comparable rating if another rating agency is specified by the Purchaser by written notice to the Company) at the time any deposits are held on deposit therein.
Appears in 2 contracts
Samples: Reconstituted Servicing Agreement (Structured Asset Mortgage Investments Inc), Reconstituted Servicing Agreement (Lehman Xs Trust Series 2005-3)
Qualified Depository. A deposit account or accounts maintained with a federal or state chartered depository institution the deposits in which are insured by the FDIC to the applicable limits and the short-term unsecured debt obligations of which (or, in the case of a depository institution that is a subsidiary of a holding company, the short-term unsecured debt obligations of such holding company) are rated A-1 by Standard & Poor’s Ratings Group Services or Prime-1 by Xxxxx’x Mxxxx’x Investors Service, Inc. (or a comparable rating if another rating agency is specified by the Purchaser by written notice to the Company) at the time any deposits are held on deposit therein.
Appears in 1 contract
Samples: Reconstituted Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2)
