Eligible Depository definition

Eligible Depository. Any Reserve Bank or any depository institution or trust company incorporated under the laws of the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities, so long as at the time of determination of eligibility the commercial paper or other short-term debt obligations of such depository institution or trust company (or, in the case of a depository institution that is the principal subsidiary of a holding company, the commercial paper or other short-term debt obligations of such holding company) have the Highest Credit Rating Available from at least one Rating Agency.

Eligible Depository means a financial institution which has assigned to it short term credit ratings equal to or higher than (as the case may be) A-1 by S&P and P-1 by Moody's and includes the Servicer to the extent that:

Eligible Depository means any:

Examples of Eligible Depository in a sentence

• No investment shall mature later than the Business Day immediately preceding the Distribution Date upon which the related amounts are required to be applied to distributions pursuant hereto, except that any investment in the federal funds market or on which the Eligible Depository, in its commercial capacity, or Xxxxxx Xxx is the obligor may mature on the related Distribution Date.

• No investment shall mature later than the Business Day immediately preceding the Distribution Date upon which the related amounts are required to be applied to distributions pursuant hereto, except that any investment in the federal funds market or on which the Eligible Depository, in its commercial capacity, or Xxxxxx Mae is the obligor may mature on the related Distribution Date.

• The Trustee may consolidate funds in one or more Certificate Accounts (or through a clearing account at an Eligible Depository) prior to transfer to the Paying Agent.

• The Trustee will open with an Eligible Depository one or more segregated accounts in the name of the Trustee (or its designee) to hold funds for the benefit of the Holders under one or more Trusts.

• Each Custodial Account will be established in the name of the Master Servicer or the Trustee for the benefit of the Holders under one or more Trusts (or as otherwise directed in the related Servicing Contract) and so identified to the Eligible Depository (or other depository if permitted by paragraph (b) of this Subsection 6.1(1)) as a Custodial Account for the Master Servicer or the Trustee.

More Definitions of Eligible Depository

Eligible Depository means a financial institution which has assigned to it short term credit ratings equal to or higher than (as the case may be) A-1 by S&P, P-1 by Xxxxx'x and F1 by Fitch and includes the Servicer to the extent that:

Eligible Depository. Any Reserve Bank, the Trustee or any other depository institution or trust company approved in writing by an Authorized Officer of Farmer Mac inxxxxxxated under the laws of the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities.

Eligible Depository. Any Reserve Bank or any other depository institution or trust company incorporated under the laws of the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities, which institution or company is approved in writing by an Authorized Officer of the Purchaser.

Eligible Depository means a financial institution which has assigned to it short term credit ratings equal to or higher than (as the case may be) A-1 by S&P and P-1 by Xxxxx'x and includes the Servicer to the extent that:

Eligible Depository means the Depository Trust Company, the Federal Reserve book-entry system ("BES") or any other securities depository registered as a clearing agency under the 1934 Act.

Eligible Depository means any institution described in Ohio R.C. 135.03.

Eligible Depository. (a) Any Federal Reserve Bank (as that term is used in Section 2 of the Federal Reserve Act, 12 U.S.C. §225, as such statute may be amended from time to time),