Common use of Structured Notes Clause in Contracts

Structured Notes. The ▇▇▇▇▇'▇ Discount Factor applied to Structured Notes will be (A) in the case of a corporate issuer, the ▇▇▇▇▇'▇ Discount Factor determined in accordance with paragraph (ii) under this definition, whereby the rating on the issuer of the Structured Note will be the rating on the Structured Note for purposes of determining the ▇▇▇▇▇'▇ Discount Factor in the table in paragraph (ii); and (B) in the case of an issuer that is the U.S. government or an agency or instrumentality thereof, the ▇▇▇▇▇'▇ Discount Factor determined in accordance with paragraph (v) under this definition. The ▇▇▇▇▇'▇ Discount Factor for any ▇▇▇▇▇'▇ Eligible Asset other than the securities set forth above will be the percentage provided in writing by ▇▇▇▇▇'▇. Additionally, in order to merit consideration as a ▇▇▇▇▇'▇ Eligible Asset, securities should be issued by entities which: (a) have not filed for bankruptcy within the past three years, (b) are current on all principal and interest in their fixed income obligations, (c) are current on all preferred stock dividends, and (d) possess a current, unqualified auditor's report without qualified, explanatory language.

Structured Notes. The ▇▇▇▇▇'’▇ Discount Factor applied to Structured Notes will be (A) in the case of a corporate issuer, the ▇▇▇▇▇'’▇ Discount Factor determined in accordance with paragraph (ii) under this definition, whereby the rating on the issuer of the Structured Note will be the rating on the Structured Note for purposes of determining the ▇▇▇▇▇'’▇ Discount Factor in the table in paragraph (ii); and (B) in the case of an issuer that is the U.S. government or an agency or instrumentality thereof, the ▇▇▇▇▇'’▇ Discount Factor determined in accordance with paragraph (v) under this definition. The ▇▇▇▇▇'’▇ Discount Factor for any ▇▇▇▇▇'’▇ Eligible Asset other than the securities set forth above will be the percentage provided in writing by ▇▇▇▇▇'’▇. Additionally, in order to merit consideration as a ▇▇▇▇▇'’▇ Eligible Asset, securities should be issued by entities which: (a) have not filed for bankruptcy within the past three years, (b) are current on all principal and interest in their fixed income obligations, (c) are current on all preferred stock dividends, and (d) possess a current, unqualified auditor's ’s report without qualified, explanatory language.

Structured Notes. The M▇▇▇▇▇'’▇ Discount Factor applied to Structured Notes will be (A) in the case of a corporate issuer, the M▇▇▇▇▇'’▇ Discount Factor determined in accordance with paragraph (ii) under this definition, whereby the rating on the issuer of the Structured Note will be the rating on the Structured Note for purposes of determining the ▇▇▇▇▇'▇ Moody’s Discount Factor in the table in paragraph (ii); and (B) in the case of an issuer that is the U.S. government or an agency or instrumentality thereof, the ▇▇▇▇▇'▇ Moody’s Discount Factor determined in accordance with paragraph (v) under this definition. The ▇▇▇▇▇'▇ Moody’s Discount Factor for any ▇▇▇▇▇'▇ Moody’s Eligible Asset other than the securities set forth above will be the percentage provided in writing by ▇▇▇▇▇'▇Moody’s. Additionally, in order to merit consideration as a ▇▇▇▇▇'▇ Moody’s Eligible Asset, securities should be issued by entities which: (a) have not filed for bankruptcy within the past three years, (b) are current on all principal and interest in their fixed income obligations, (c) are current on all preferred stock dividends, and (d) possess a current, unqualified auditor's ’s report without qualified, explanatory language.