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, Xxxxx’x and S&P).
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 Xxxxxx Xxxxxx xx Xxxxxxx, 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, Xxxxx’x and S&P).
Examples of Qualified Trustee in a sentence
This indemnification shall survive resignation of the Qualified Trustee or termination of this Agreement.
This Agreement represents the entire agreement and understanding among the Depository, Qualified Trustee, and Administrator concerning the subject matter hereof and shall supersede any previous agreement among the Depository, Qualified Trustee, and Administrator.
The Qualified Trustee shall require written authorization from the Administrator before effecting release of any of the Pledged Securities to the Depository.
The Qualified Trustee will not pay the Depository any principal funds as a result of a maturity or redemption without (1) the receipt of written authorization by the Administrator, and (2) adequate collateral replacement of Approved Securities to ensure the Fair Market Value of the Securities Account exceeds the Pledge Amount, if needed.
Except for the claims and interest of the Department or the Administrator and of the Depository in the Securities Account, the Qualified Trustee does not know of any claim to, or interest in, the Securities Account or in any "financial asset," as defined in UCC § 8-102(a)(1), credited thereto.
More Definitions of Qualified Trustee
Qualified Trustee means a person, other than the transferor, who meets all of the following conditions:
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 Xxxxx’x.
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. An institution (i) that is 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) that is 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 Moody’s or a long term counterparty risk assessment of at least “A2(cr)” by Moody’s (provided, however, that the Trustee shall be deemed to have met the eligibility requirements in this clause (iii)(A) for so long as (1) it has a rating on its long-term senior unsecured debt or a long-term issuer rating of at least “Baa3” by Moody’s or a rating on its short-term debt of at least “P-2” by Moody’s, and (2) the Back-Up Advancing Agent or 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 Moody’s or a rating on its short-term unsecured debt of at least “P-1” by Moody’s) or (B) such other rating with respect to which Moody’s has provided a Rating Agency Confirmation, (iv) that has a rating on its long-term senior unsecured debt or an issuer credit rating of at least “BBB-” by KBRA (or, if not rated by KBRA, then at least an equivalent rating by two other NRSROs which may include Moody’s) (or such other rating with respect to which KBRA has provided a Rating Agency Confirmation), (v) as to which neither Moody’s nor KBRA has withdrawn, qualified or downgraded its rating of securities in a commercial mortgage loan securitization as a result of the performance by the Trustee and (vi) that is not an Affiliate of the Servicer or the Special Servicer.
Qualified Trustee means a person who is not a transferor and to whom both of the following apply:
Qualified Trustee means either: