Common use of Qualification of Successor Clause in Contracts

Qualification of Successor. A successor trustee shall be a national banking association with trust powers or a bank and trust company or a trust company having capital and surplus of at least $75,000,000 and acceptable to the Bond Insurer, if there be one able and willing to accept the trust on reasonable and customary terms.

Qualification of Successor. A successor trustee Trustee shall be a national banking association bank or trust company with trust powers or powers, having a bank and trust company or a trust company having combined net capital and surplus of at least $75,000,000 and acceptable to the Bond Insurer, if there be one able and willing to accept the trust on reasonable and customary terms50,000,000.

Qualification of Successor. A successor trustee shall be a national banking association with trust powers or a state banking corporation with trust powers or a bank and trust company or a trust company company, in each case having capital and surplus of at least $75,000,000 and acceptable to the Bond Insurer75,000,000, if there be one able and willing to accept the trust on reasonable acceptable and customary terms.

Qualification of Successor. A successor trustee shall be a national banking association with trust powers powers, a state bank or a bank and trust company or a trust company having capital and surplus of at least $75,000,000 and acceptable to the Bond Insurer, or if there be one able and no bank or trust company willing to accept the trust on reasonable and customary termsterms then such Trustee as may be appointed by a Court of competent jurisdiction, such successor trustee to have a minimum capital and surplus requirement of $50,000,000.

Qualification of Successor. A successor trustee shall be a national banking association bank with trust powers powers, a bank with trust powers, or a bank and trust company or a trust company organized under the laws of the State having reported capital and surplus of at least $75,000,000 and acceptable to the Bond Insurer, if there be one able and willing to accept the trust on reasonable and customary terms50,000,000.

Qualification of Successor. A successor trustee shall be a ------------ -------------------------- national banking association bank with trust powers or a bank, a bank and trust company or a trust company organized under the laws of one of the states of the United States, in each case having capital and surplus of at least $75,000,000 and acceptable to the Bond Insurer50,000,000, if there be one able and willing to accept the trust on reasonable and customary terms.