Laserfiche WebLink
third party is (a) a Federal Reserve Bank, (b) a <br />bank which is a member of the Federal Deposit <br />Insurance Corporation and which has combined <br />capital, surplus and undivided profits of not less <br />than $25 million, or (c) a bank approved in <br />writing for such purpose by Financial Guaranty <br />Insurance Company, and the Trustee shall have <br />received written confirmation from such third <br />party that it holds such securities, free and <br />clear of any lien, as agent for the Trustee; and <br />(3) a perfected first security interest under the <br />Uniform Commercial Code, or book entry procedures <br />prescribed at 31 C.F.R. 306.1 et seq. or 31 C.F.R. <br />350.0 et seq. in such securities is created for <br />the benefit of the Trustee; and <br />(4) the repurchase agreement has a term of thirty days <br />or less, or the Trustee will value the collateral <br />securities no less frequently than monthly and <br />will liquidate the collateral securities if any <br />deficiency in the required collateral percentage <br />is not restored within two business days or such <br />valuation; and <br />(5) the repurchase agreement matures at least ten days <br />(or other appropriate liquidation period) prior to <br />a debt service payment date, and <br />(6) the fair market value of the securities in <br />relation to the amount of the repurchase <br />obligation, including principal and interest, is <br />equal to at least 100%; and <br />k. investment agreements with a bank or insurance company <br />which has an unsecured, uninsured and unguaranteed <br />obligation (or claims -paying ability) rated "A3" or <br />better by Moody's Investors Service and "A-" or better <br />by Standard & Poor's Corporation, or is the lead bank <br />of a parent bank holding company with an uninsured, <br />unsecured and unguaranteed obligation meeting such <br />rating requirements, provided: <br />(1) interest is paid at least semi-annually at a fixed <br />rate during the entire term of the agreement, <br />consistent with bond payment dates, and <br />(2) moneys invested thereunder may be withdrawn <br />without any penalty, premium, or charge upon not <br />more than one day's notice (provided such notice <br />may be amended or cancelled at any time prior to <br />the withdrawal date), and <br />