Qualified Trustee definition
Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the applicable Rating Agencies.
Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority or (ii) an institution whose long-term senior unsecured debt is rated in either of the then in effect top three rating categories of each of the applicable Rating Agencies (or, if not rated by an applicable Rating Agency, an equivalent (or higher) rating from any two of Fitch, ▇▇▇▇▇’▇ and S&P).
Qualified Trustee means a person, other than the transferor, who meets all of the following conditions:
Examples of Qualified Trustee in a sentence
There are no other agreements entered into between the Qualified Trustee and the Depository with respect to the Securities Account, other than the safekeeping or custodial agreement pursuant to which the account was opened.
The Qualified Trustee shall require written authorization from the Administrator before effecting release of any of the Pledged Securities to the Depository.
This indemnification shall survive resignation of the Qualified Trustee or termination of this Agreement.
In the event of a maturity or redemption, the Qualified Trustee shall require the substitution of an appropriate amount of Approved Securities to satisfy the Pledge Amount.
The obligations of the Qualified Trustee hereunder shall continue in effect until the security interest of the Department in the Securities Account has been terminated pursuant to the terms of the Security Agreement and the Department has notified the Qualified Trustee of such termination in writing.
More Definitions of Qualified Trustee
Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the applicable Rating Agencies (or, if not rated by an applicable Rating Agency, an equivalent (or higher) rating from any two of Fitch, ▇▇▇▇▇’▇ and S&P).
Qualified Trustee. An institution (i) that is a corporation, federal savings bank, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or state authority; (ii) that is (if it is a depository institution) insured by the Federal Deposit Insurance Corporation; (iii) that has either (A) a rating on its long-term senior unsecured debt or a long-term issuer rating of at least “A2” by ▇▇▇▇▇’▇ or a long term counterparty risk assessment of at least “A2(cr)” by ▇▇▇▇▇’▇ (provided, however, that the Trustee shall be deemed to have met the eligibility requirements in this clause (iii)(A) for so long as (1) the Trustee has a rating on its long-term senior unsecured debt or a long-term issuer rating of at least “Baa3” by ▇▇▇▇▇’▇ or a long-term counterparty risk assessment of at least “Baa3(cr)” by Moody’s or a rating on its short-term unsecured debt of at least “P-2” by ▇▇▇▇▇’▇, and (2) either (a) the Servicer has a rating on its long-term senior unsecured debt or a long-term issuer rating of at least “A2” by Moody’s or a long term counterparty risk assessment of at least “A2(cr)” by ▇▇▇▇▇’▇ or a rating on its short-term unsecured debt of at least “P-1” by ▇▇▇▇▇’▇ or (b) the Back-Up Advancing Agent satisfies the Applicable Back-Up Advancing Agent Ratings Requirements) or (B) such other rating with respect to which ▇▇▇▇▇’▇ has provided a Rating Agency Confirmation; (iv) that has either (A) a rating on its long-term senior unsecured debt or an issuer credit rating of at least “A” by Fitch or a rating on its short-term unsecured debt of at least “F1” by Fitch (provided, however, that the Trustee will be deemed to have met the eligibility requirements in this clause (iv)(A) for so long as (1) the Trustee has a long-term senior unsecured debt rating or issuer credit rating of at least “BBB-” by Fitch and (2) either (a) the Servicer has a long-term senior unsecured debt rating or an issuer credit rating of at least “A” by Fitch or a short-term unsecured debt rating of at least “F1” by Fitch, or (b) the Back-Up Advancing Agent satisfies the Applicable Back-Up Advancing Agent Ratings Requirements or (B) such other rating with respect to which Fitch has provided a Rating Agency Confirmati...
Qualified Trustee means (A) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $300,000,000 and subject to supervision or examination by federal or state authority, (B) an institution insured by the Federal Deposit Insurance Corporation or (C) an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the Rating Agencies.
Qualified Trustee means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt is rated either of the then-in-effect top two rating categories of each of Fitch and S&P or Baa3 by ▇▇▇▇▇’▇.
Qualified Trustee. An entity meeting the eligibility requirements of Section 6.8 of the Indenture.
Qualified Trustee means either:
Qualified Trustee means a person who is not a transferor and to whom both of the following apply: