Common use of Bank Obligations Clause in Contracts

Bank Obligations. Certificates of deposit (and time deposits represented by such certificates of deposit) of, bankers’ acceptances issued by, or federal funds sold by any depository institution or trust company (including the Titling Trustee or any Affiliate thereof) incorporated under the laws of the United States or any state and subject to supervision and examination by federal and/or state banking authorities, so long as at the time of such investment or contractual commitment providing for such investment either the short-term, unsecured debt obligations of such depository institution or trust company have the highest available credit ratings from any two national rating agencies or the Titling Trustee shall have received a letter from any such rating agencies that then rate any Trust-Related Obligation to the effect that such investment would not result in the qualification, downgrading or withdrawal of any rating then assigned to such Trust-Related Obligation.