Qualified Depository. Any of the following: (i) a depository, the long-term unsecured debt obligations of which are rated by Moody's or S&P (or a comparable rating agency) in one of its three highest rating categories, (ii) the corporate trust department of a national bank, (iii) a depository that fully insures the Account and the Escrow Account with insurance provided by the FDIC, or (iv) the Servicer.
Appears in 1 contract
Sources: Assignment, Assumption and Recognition Agreement (Bear Stearns Asset Backed Securities Inc)
Qualified Depository. Any of the following: (i) a depository, the long-term unsecured debt obligations of which are rated by Moody's ’s or S&P (or a comparable rating agency) in one of its three highest rating categories, (ii) the corporate trust department of a national bank, (iii) a depository that fully insures the Account and the Escrow Account with insurance provided by the FDIC, or (iv) the Servicer. REMIC: A “real estate mortgage investment conduit” within the meaning of Section 860D of the Code.
Appears in 1 contract
Sources: Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A1)
Qualified Depository. Any of the following: (i) a depository, the long-term unsecured debt obligations of which are rated by Moody's or S&P any Rating Agency (or a comparable rating agency) in one of its three highest rating categories, (ii) the corporate trust department of a national bank, (iii) a depository that fully insures the Investment Account and or the Escrow Remittance Account with insurance provided by the FDIC, or (iv) the ServicerWashington Mutual Bank, FA.
Appears in 1 contract
Sources: Mortgage Loan Purchase and Sale Agreement (Luminent Mortgage Trust 2007-1)
Qualified Depository. Any of the following: (i) a depository, the long-term unsecured debt obligations of which are rated by Moody's ▇▇▇▇▇’▇ or S&P (or a comparable rating agency) in one of its three highest rating categories, (ii) the corporate trust department of a national bank, (iii) a depository that fully insures the Account and the Escrow Account with insurance provided by the FDIC, or (iv) the Servicer. REMIC: A "real estate mortgage investment conduit" within the meaning of Section 860D of the Code.
Appears in 1 contract
Sources: Servicing Agreement (Zuni 2006-Oa1)
Qualified Depository. Any of the following: (i) a A depository, the long-term unsecured debt obligations of which are rated by Moody's or S&P (or a comparable rating agency) in one of its three two highest rating categories, (ii) the corporate trust department of a national bank, bank or (iii) a depository that fully which insures the Account and the Escrow Account with insurance provided by the FDIC, or (iv) FDIC to the Servicerfull extent allowed by the applicable law.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp)