Eligible Deposit Account

Eligible Deposit Account. Means either (a) a segregated account (including a securities account) maintained with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution (other than Synchrony Bank or any Affiliate thereof) organized under the laws of the United States of America or any state or the District of Columbia, or any domestic branch of a foreign bank, or a trust company acceptable to each applicable Rating Agency, and acting as a trustee for... funds deposited in such account, so long as the rating of any of the unsecured or unguaranteed senior debt securities of such depository institution satisfies the publicly published, controlling and applicable ratings criteria established by each Rating Agency. View More