definiens: means, at any time : ( a ) any direct obligation of ( or unconditional ly guaranteed by ) the United States ( or any agency or political subdivision thereof, to the ext ent such obligations are supported by the full fait h and credit of the United States ) maturing not more than one year after such time ; - 2 - ( b ) commercial paper maturing not more than on e year from the date of issue, which is issued by a corporation ( other than an Affiliate of the Borrower or any of its Subsidiaries ) organized under the laws of any state of the United States or of the District of Columbia and rated A-1 or highe r by S&P or P-1 or higher by Moody ’s ; ( c ) any certificate of deposit, demand or time deposit or bankers acceptance, maturing not more than 180 days after its date of issuance, whic h is issued by or placed with any bank or trust company organized under the laws of the United Stat es ( or any state thereof ) and which has ( or is a subsidiary of a bank holding company which has ) ( x ) a credit rating of A2 or higher from Moody ’s or A or higher from S&P and ( y ) a combined capital and surplus greater than $ 500,000,000 ; or ( d ) investments in money market mutual funds a t least 95 % of the assets of which are comprised of securities of the types described in c lauses ( a ) through ( c ) of this definition