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-10- <br />(f) certificates of deposit, savings accounts, deposit accounts or money market <br />deposits (including those of the Trustee and its affiliates) which are fully insured by the <br />Federal Deposit Insurance Corporation; <br />(g) investment agreements, including guaranteed investment contracts, which, <br />are general obligations of an entity whose long term debt obligations, or claims paying <br />ability, respectively, which are rated in one of the two highest rating categories by S&P <br />or which are collateralized so as to be rated in one of the two highest rating categories <br />by S&P; <br />(h) commercial paper rated, at the time of purchase, ""A-1" or better by S&P; <br />(i) bonds or notes issued by any state or municipality which are rated by S&P in <br />one of the two highest rating categories assigned by such agencies; <br />(j) federalfunds or bankers acceptances with a maximum term of one year of any <br />bank which has an unsecured, uninsured and unguaranteed obligation rating of "A-1" or <br />"A" or better by S&P; <br />(k) repurchase agreements for thirty (30) days or less (more than thirty (30) days <br />which provide for the transfer of securities from a dealer bank or securities firm <br />(seller/borrower) to the Trustee and the transfer of cash from the Trustee to the dealer <br />bank or securities firm with an agreement that the dealer bank or securities firm will <br />repay the cash plus a yield to the Trustee in exchange for the securities at a specified <br />date, which satisfy the following criteria: <br />(i) repurchase agreements must be between the Trustee and (A) a <br />primary dealer on the Federal Reserve reporting dealer list which falls under the <br />jurisdiction of the Securities Investors Protection Corporation and which are rated <br />"A" or better by S&P, or (B) a bank rated "A" or better by S&P; <br />(ii) the written repurchase agreement contract must include the following: <br />(A) securities acceptable for transfer, which may be direct U.S. government <br />obligations, or federal agencyobligations backed by the full faith and credit of the <br />U.S. government; (B) the term of the repurchase agreement may be up to 30 <br />days; (C) the collateral must be delivered to the Trustee or a third party acting as <br />agent for the Trustee simultaneous with payment (perfection by possession of <br />certificated securities); (D) the Trustee must have a perfected first priority <br />security interest in the collateral; (E) the collateral must be free and clear of third- <br />party liens and, in the case of a broker which falls under the jurisdiction of the <br />Securities Investors Protection Corporation, are not subject to a repurchase <br />agreement or a reverse repurchase agreement; (F) failure to maintain the <br />requisite collateral percentage, after a two day restoration period, will require the <br />Trustee to liquidate the collateral; (G) the securities must be valued weekly, <br />marked-to-market at current market price plus accrued interest and the value of <br />collateral must be equal to 104% of the amount of cash transferred by the <br />Trustee to the dealer bank or securities firm under the repurchase agreement <br />plus accrued interest (unless the securities used as collateral are obligations of <br />theFederal National Mortgage Association or the Federal Home Loan Mortgage <br />Corporation, in which case the collateral must be equal to 105% of the amount of <br />cash transferred by the Trustee to the dealer bank or securities firm under the